Document:

Exhibit 10.1

 

*** Indicates a portion of the exhibit has been omitted based
on a request for confidential treatment submitted to the Securities and Exchange Commission. The omitted portions have been filed
separately with the Securities and Exchange Commission.

 

Execution Copy

 

DATED THIS        7th       
DAY OF        May           2012

 

Between

 

DBS TRUSTEE LIMITED 

AS TRUSTEE OF MAPLETREE INDUSTRIAL TRUST

as the Landlord

 

And

 

KULICKE & SOFFA PTE. LTD.

as the Tenant

 

 

 

AGREEMENT TO DEVELOP AND LEASE

 

 

 

WONGPARTNERSHIP LLP

One George Street

#20-01

Singapore 049145

Tel: +65 6416 8000

Fax: +65 6532 5711/+65 6532 5722

Email: contactus@wongpartnership.com

Website: www.wongpartnership.com.sg

 

    	 

    	 

    

 

TABLE OF CONTENTS

 

	CLAUSE	HEADING	PAGE
	 	 	 
	1.	DEFINITIONS AND INTERPRETATION	1
	 	 	 
	2.	GENERAL	6
	 	 	 
	3.	PERMITTED USE	6
	 	 	 
	3A.	INVESTMENT CRITERIA	7
	 	 	 
	4.	TENANT'S REPRESENTATIVE AND LANDLORD'S REPRESENTATIVE	8
	 	 	 
	5.	GENERAL OBLIGATIONS OF THE LANDLORD	9
	 	 	 
	6.	JTC LEASE DOCUMENTS	10
	 	 	 
	7.	MASTER SCHEDULE & KEY MILESTONES	10
	 	 	 
	8.	PRE-TOP ACCESS	12
	 	 	 
	9.	TENANT'S FITTING-OUT WORKS	13
	 	 	 
	10.	POST-TOP RENT FREE PERIOD	15
	 	 	 
	10A.	CHANGE IN CONTRACTED NLA	15
	 	 	 
	11.	AMENDMENT AND MODIFICATION	16
	 	 	 
	12.	DEFECTS	18
	 	 	 
	13.	NO ASSIGNMENT	19
	 	 	 
	14.	RESCISSION BY LANDLORD UPON THE TENANT'S DEFAULT	20
	 	 	 
	15.	EXECUTION AND TERMS OF THE LEASE	20
	 	 	 
	16.	RIGHTS AND OBLIGATIONS BEFORE EXECUTION OF THE LEASE	22
	 	 	 
	17.	SECURITY DEPOSIT	22
	 	 	 
	18.	RESCISSION BY TENANT	23
	 	 	 
	19.	SIGNAGE RIGHTS	24
	 	 	 
	20.	LEGAL FEES AND STAMP DUTY	24
	 	 	 
	21.	TAXES	25
	 	 	 
	22.	SETTLEMENT OF DISPUTES	26
	 	 	 
	23.	RECOVERY BY THE PARTIES	26
	 	 	 
	24.	GOVERNING LAW AND NOTICES	26
	 	 	 
	25.	MISCELLANEOUS	27
	 	 	 
	26.	ACKNOWLEDGEMENT BY PARTIES	27

  

    	 

    	 

    

 

	27.	CONFIDENTIALITY OF INFORMATION	28
	 	 	 
	APPENDIX 1	FORM OF BANK GUARANTEE (FOR THE SECURITY DEPOSIT AMOUNT)	30
	 	 	 
	APPENDIX 1A	FORM OF BANK GUARANTEE (FOR THE SECURITY DEPOSIT AMOUNT)	32
	 	 	 
	APPENDIX 2	BASE PLANS AND BASE SPECIFICATIONS	34
	 	 	 
	APPENDIX 3	CHANGE REQUEST FORM	58
	 	 	 
	APPENDIX 4	DETAILS	59
	 	 	 
	APPENDIX 5	LEASE AGREEMENT	60
	 	 	 
	APPENDIX 6	MASTER SCHEDULE	61
	 	 	 
	APPENDIX 7	KEY PARAMETERS	62

 

    	 

    	 

    

 

THIS AGREEMENT is made on
7 May 2012

 

BETWEEN:

 

		(1)	DBS TRUSTEE LIMITED (Registration No. 197502043G) as trustee of Mapletree Industrial
Trust, a company incorporated in Singapore with its registered office at 6 Shenton Way, DBS Building Tower 1, Singapore 068809
(the "Landlord"); and

 

		(2)	KULICKE & SOFFA PTE. LTD. (Registration No. 199902120H) a company incorporated
in Singapore with its registered office at 6 Serangoon North Avenue 5, #03-16 Serangoon North Industrial Estate, Singapore 554910
(the "Tenant").

 

(hereinafter individually referred
to as the "Party" and collectively referred to as the "Parties")

 

WHEREAS:

 

		(A)	The Landlord agrees to procure and/or undertake the development of the Building on the Land.

 

		(B)	The Landlord agrees to lease, and the Tenant agrees to take a lease in respect of the Premises
comprised in the Building, on terms contained/to be contained in the Lease Agreement.

 

		1.	DEFINITIONS AND INTERPRETATION

 

		1.1	Definitions

 

In this Agreement
(as hereinafter defined) the following words and expression shall have the meanings hereby assigned to them except where the context
otherwise requires:

 

"the
Agreed Sum" shall have the meaning ascribed to it in Clause 21(a);

 

"Agreement"
means this Agreement to Develop and Lease (including the Appendices), and such other letters and documents as the Parties may expressly
identify in writing and agree as forming part of this Agreement;

 

"Appendices"
means the appendices to this Agreement;

 

"Approvals"
means any and/or all relevant permissions, consents, approvals, licences, certificates and permits issued by any of the Authorities;

 

"Approved Contractors"
shall have the meaning ascribed to it in Clause 9.1(c);

 

"Authorities"
means all governmental, quasi-governmental, statutory and regulatory authorities having jurisdiction over the Works and/or the
Tenant and/or the Landlord, including any public authority or public service company whose systems are connected with and/or affected
by the Works;

 

"Bank Guarantee"
shall have the meaning ascribed to it in Clause 17.4, the form of which is attached in Appendix 1;

 

    	1

    	 

    

 

"Base
Plans" means the agreed plans depicting the Building (including the Premises), attached in Appendix 2;

 

"Base
Specifications" means the agreed specifications relating to the Building (including the Premises), attached in Appendix
2;

 

"Building"
means the building erected or to be erected at the Land in accordance with the Base Plans and Base Specifications;

 

"Business
Day" means a day (other than a Saturday, Sunday or a gazetted public holiday in Singapore) on which commercial banks
are open for business in Singapore;

 

"Certified
Net Lettable Floor Area" shall have the meaning ascribed to it in Clause 15.2;

 

"Change
Request Form" means the change request form set out in Appendix 3;

 

"Common
Areas" means all those parts of the Land which would usually have formed part of the common property under the Land
Titles (Strata) Act (Chapter 158 of Singapore) had the Building been strata subdivided;

 

"Contracted
NLA" means 198,134 square feet or such NLA of the Premises as may be notified by the Landlord to the Tenant pursuant
to Clause 10A upon finalisation of the surveyed area of the Land by JTC;

 

"CSC"
means the certificate of statutory completion for the Building issued by the Building and Construction Authority under the Building
Control Act (Chapter 29 of Singapore);

 

"Defects
Liability Period" means the Defects Liability Period set out in the Appendix 4;

 

"Deposit"
means the security deposit to be furnished by the Tenant to the Landlord under Clause 17.1;

 

"Detailed
Plans and Specifications" means all designs, drawings, plans, layout, details, specifications and other drawn or written
information which are necessary to complete the Works prepared and developed by the Landlord in accordance with the Base Plans
and Base Specifications;

 

"Estimated
Possession Notice Date" shall have the meaning ascribed to it in Clause 7.6 and stipulated in Appendix 4;

 

"Existing
Lease" shall have the meaning ascribed to it in Clause 7.9(a);

 

"Extended
Term" shall have the meaning ascribed to it in Clause 7.9(a);

 

"Force
Majeure Event" shall include the following:

 

		(a)	exceptionally adverse weather conditions;

 

		(b)	damage, disruptions to works, electricity outage or shortage of supplies caused by storm, lightning,
high winds, earthquake, or fire;

 

		(c)	damage, disruptions to works caused by aircraft or aerial objects (provided and to the extent that
any of the same are not due to any act, negligence, default, omission or breach of contract by the Landlord and/or the Main Contractor
or any of their agents, employees or sub-contractors, direct or indirect, whether in failing to take reasonable steps to protect
the Works or otherwise);

 

    	2

    	 

    

 

		(d)	war, hostilities (whether war be declared or not), invasion, act of foreign enemies, insurgency,
terrorism, civil commotion or riots;

 

		(e)	rebellion, revolution, insurrection or military or usurped power or civil war;

 

		(f)	riot, commotion, industrial action by workmen, strikes, lockouts or disorder;

 

		(g)	embargoes by any relevant bodies or authorities; and

 

		(h)	ionising radiations, or contamination by radio activity from any nuclear fuel, or from any nuclear
waste from the combustion of nuclear fuel, radioactive, toxic, explosive, or other hazardous properties of any explosive, nuclear
assembly or nuclear component;

 

"Guaranteed
Period" shall have the meaning ascribed to it in Clause 17.4(b);

 

"Guarantor"
shall have the meaning ascribed to it in Clause 17.4(a);

 

"Initial
Period" shall have the meaning ascribed to it in Clause 17.4(b);

 

"Interested
Parties" shall have the meaning ascribed to it in Clause 27;

 

"JTC"
means JTC Corporation, a body corporate incorporated under the Jurong Town Corporation Act, Chapter 150 of Singapore and having
its office at The JTC Summit, 8 Jurong Town Hall Road, Singapore 609434;

 

"JTC Lease Documents"
means collectively, (i) the JTC Letter (ii) the Schedule of Building Terms and the form of lease (attached to the Schedule
of Building Terms), both referred to in the JTC Letter; and (iii) all other appendices and schedules referred to in (i) and (ii);

 

"JTC
Letter" means the letter of offer issued by JTC to the Landlord in respect of the lease of the Land to the Landlord;

 

"Key
Milestones" means the key events and stages of completion to be achieved throughout the carrying on of the Works in
accordance with the Master Schedule;

 

"Key
Parameters" means the specifications in respect of the Building set out in Appendix 7;

 

"Land"
shall mean all that piece of land comprised in Lot 17622A Pt Mukim 18 at Serangoon North Avenue 5 (which expression includes any
part thereof and the Building);

 

"Landlord’s
Investment Criteria Fulfilment Date" shall have the meaning ascribed to it in Clause 3A.

 

"Landlord’s
Obligations" means the covenants, conditions, terms, stipulations, undertakings and obligations to be performed, fulfilled
or observed by the Landlord under or pursuant to this Agreement;

 

"Landlord's
Representative" means the person appointed as such by the Landlord pursuant to Clause 4.5 of this Agreement;

 

    	3

    	 

    

 

"Laws"
means any and/or all present and future laws, legislation, subsidiary legislation, statutes, orders, by-laws, rules, regulations,
and notices and requirements of any Authorities;

 

"Lease
Agreement" means the lease to be entered into between the Tenant and the Landlord in respect of the Premises, in the
form appended as Appendix 5;

 

"Lease
Commencement Date" shall have the meaning ascribed to it in Clause 15.1;

 

"Main
Contract" means the contract in respect of the Project made between (i) the Landlord (as employer) of the one part
and (ii) the Main Contractor (as main contractor for the Project);

 

"Main
Contractor" means the main building contractor under the Main Contract employed by the Landlord from time to time
in respect of the Project;

 

"Mapletree
Industrial Trust" means Mapletree Industrial Trust established in Singapore as a collective investment scheme and
constituted by the MIT Trust Deed;

 

"Master
Schedule" shall have the meaning ascribed to it in Clause 7.1. The initial Master Schedule is appended as Appendix
6, and may be revised from time to time by mutual agreement of the Parties;

 

"MIT
Trust Deed" means the trust deed dated 29 January 2008 entered into between Mapletree Industrial Fund Management Pte.
Ltd. and Mapletree Trustee Pte. Ltd., as amended by (i) a supplemental deed of change of name of the trust deed dated 8 April 2008,
(ii) a second supplemental deed dated 17 June 2008, (iii) an amending and restating deed dated 20 May 2009, (iv) a supplemental
deed of appointment and retirement of manager dated 27 September 2010, (v) a supplemental deed of appointment and retirement of
trustee dated 27 September 2010 and (vi) a second amending and restating deed dated 27 September 2010, and as further amended,
modified or supplemented from time to time;

 

"NLA"
means the aggregate net lettable floor area of the Premises measured to include the edge of the slab which forms the external boundary
of the space being measured and half the thickness of the internal walls/partitions/glass as well as the areas occupied by all
pillars, columns, mullions, internal partitions and projections within the space being measured;

 

"NLA
Certificate" shall have the meaning ascribed to it in Clause 15.2;

 

"Other
Premises" shall mean premises in the Building other than the Premises;

 

"Permit
to Commence Work" shall mean the permit to commence work in respect of the Works, issued by the relevant Authorities;

 

"Permitted
Use" shall have the meaning ascribed to it in Clause 3.1;

 

"Possession
Notice" shall have the meaning ascribed to it in Clause 7.6;

 

"Premises"
means such part of the Building to be let to the Tenant pursuant to the Lease Agreement, comprising office space and facilities,
and more particularly described in the Lease Agreement;

 

"Project"
means the development to be constructed on the Land and which includes the Building;

 

"QP"
means the qualified person appointed by the Landlord for the Project;

 

    	4

    	 

    

 

"QP
Sign-Off" means the certificate addressed to the Landlord and Tenant, from the QP certifying that (a) the Works in
respect of the Premises have been substantially completed in accordance with the Base Plans and Base Specifications and (b) there
is no deviation in respect of any of the Key Parameters;

 

"qualified
person" shall have the same meaning as that defined in the Building Control Act (Chapter 29 of Singapore);

 

"Relevant
Consents" means those permissions, consents, approvals, licences, certificates and permits in legally effectual form
as may be necessary lawfully to commence, carry out and complete the Tenant's Fitting-Out Works;

 

"Service
Address" shall have the meaning ascribed to it in Clause 24.2;

 

"SIAC"
means the Singapore International Arbitration Centre;

 

"Taxes"
shall have the meaning ascribed to it in Clause 21(a);

 

"Tenant’s
Investment Criteria Fulfilment Date" shall have the meaning ascribed to it in Clause 3A.

 

"Tenant's
Fitting-Out Works" means all renovation and fitting out works relating only to the erection of partitions, the installation
of machinery and the installation of furniture to be carried out by the Tenant at or to the Premises;

 

"Tenant's
Representative" means the person appointed as such by the Tenant pursuant to Clause 4.1 of this Agreement;

 

"TOP"
means the temporary occupation permit for the Building issued by the Building and Construction Authority under the Building Control
Act (Chapter 29 of Singapore);

 

"TOP
Liquidated Damages Date" shall have the meaning ascribed to it in Clause 7.10.

 

"TOP
Rescission Date" shall have the meaning ascribed to it in Clause 7.9(b).

 

"Utilities"
means electricity, water, chilled water, sewerage, gas, cable, telecommunications and other like supplies, if any;

 

"Works"
means the works carried out/to be carried out at the Land for the development of the Building; and

 

"S$"
or "Singapore Dollars" means the lawful currency of Singapore.

 

		1.2	Singular and Plural

 

Words importing
the singular also include the plural and vice versa where the context requires.

 

		1.3	Headings and Marginal Notes

 

The headings
and marginal notes in this Agreement shall not be deemed to be part of this Agreement or to be taken into consideration in the
interpretation or construction of this Agreement.

 

    	5

    	 

    

 

		1.4	Joint and Several Liability

 

If a Party
is a joint venture partnership, the individual partners or companies comprising the Party shall be deemed jointly and severally
liable to the other Party under this Agreement.

 

		2.	GENERAL

 

Headings
are for convenience only and do not affect interpretation. The following rules of interpretation apply unless the context requires
otherwise:

 

		(a)	The singular includes the plural and conversely.

 

		(b)	A gender includes all genders.

 

		(c)	A person includes any individual, corporation, company, firm, partnership, joint venture, association,
organisation, trust, state or agency of a state (in each case, whether or not having separate legal personality).

 

		(d)	A reference to the Landlord includes its successors. A reference to the Tenant includes its successors
and permitted assigns.

 

		(e)	Each schedule, annexure and appendix to this Agreement forms part of it.

 

		(f)	Unless stated otherwise, one word or provision does not limit the effect of another.

 

		(g)	Reference to the whole includes part.

 

		(h)	A reference to an Act of Parliament refers to that Act as it applies at the date of this Agreement
and any later amendment or re-enactment of it.

 

		(i)	This Agreement shall be construed without regard to any presumption or rule requiring construction
or interpretation against the Party drafting or causing this Agreement to be drafted.

 

		3.	PERMITTED USE

 

		3.1	Permitted Use

 

The
Premises are permitted to be used for the following authorised uses (collectively, the "Permitted Use"):

 

		(a)	research, design and manufacturing of semiconductor, high-precision equipment and assembly equipment
only; and

 

		(b)	all other allowable uses that are approved by JTC and the other relevant Authorities and by the
Landlord (such approval by the Landlord not to be unreasonably withheld).

 

		3.2	Approvals 

 

The
Tenant shall:

 

		(a)	apply for the requisite Approvals from the relevant Authorities for the Permitted Use;

 

    	6

    	 

    

 

		(b)	ensure that such Approvals from the relevant Authorities are obtained before using the Premises
and the Common Areas for such uses;

 

		(c)	at its own costs and expense, comply with all terms and conditions imposed by JTC and the relevant
Authorities in connection with such Approvals for the Permitted Use;

 

		(d)	provide copies of such Approvals to the Landlord (if the Landlord is not already in receipt of
the same); and

 

		(e)	pay for all costs incurred in connection with such Approvals and pertaining to any necessary applications
for the uses referred to in Clause 3.1, including without limitation, any differential premium and development charges.

 

		3A.	INVESTMENT CRITERIA

 

			It is hereby agreed between the Landlord
and the Tenant that by 30 June 2015,

 

		(a)	the Landlord shall invest at least S$36,000,000.00 (or such smaller amount as JTC may agree)
on building and civil works and at least S$4,000,000.00 (or such smaller amount as JTC may agree) on plant and machinery on the
Land; and

 

		(b)	the Tenant shall invest at least S$2,682,000.00 (or such smaller amount as JTC may agree)
on building and civil works and at least S$6,796,000.00 (or such smaller amount as JTC may agree) on plant and machinery on the
Land (of which at least S$2,060,000.00 must consist of new investment on plant and machinery and the remainder S$4,736,000.00 may
consist of net book value of the existing plant and machinery as at 31 December 2010).

 

It
is further agreed between the Landlord and the Tenant that, subject to any changes by JTC, the Tenant shall provide to the Landlord
by 30 June 2015 (the "Tenant’s Investment Criteria Fulfilment Date")
due proof of fulfilment on the Tenant’s part of the total investment criteria under paragraph (b) of this Clause by way of
a statement certified by the Tenant’s external auditors. The Landlord shall, subject to any changes by JTC, provide to JTC
by 31 December 2015 (the "Landlord’s Investment Criteria Fulfilment Date")
due proof of fulfilment of the total investment criteria (including the investment on the Landlord’s part) by way of a statement
certified by the Landlord’s external auditors.

 

Notwithstanding the aforesaid,
the Tenant agrees that, subject to their operational requirements, it shall endeavour to fulfil the investment criteria on its
part of the total investment criteria under paragraph (b) of this Clause and provide proof of fulfilment as early as practicable.

 

In
the event that the Tenant fails to provide to the Landlord by the Tenant’s Investment Criteria Fulfilment Date, due proof
of fulfilment on the Tenant’s part of the total investment criteria under paragraph (b) of this Clause, the Tenant shall
be deemed to be in breach of this Agreement and shall indemnify the Landlord in respect of all claims, demands, actions, suits,
proceedings, orders, damages, costs, losses and expenses of any nature whatsoever suffered or incurred by the Landlord as a result
of the Tenant’s breach of this Agreement.

 

In
the event that the Landlord fails to provide to the Tenant by the Landlord’s Investment Criteria Fulfilment Date, due proof
of fulfilment on the Landlord’s part of the total investment criteria under paragraph (a) of this Clause, the Landlord shall
be deemed to be in breach of this Agreement and shall indemnify the Tenant in respect of all claims, demands, actions, suits, proceedings,
orders, damages, costs, losses and expenses of any nature whatsoever suffered or incurred by the Tenant as a result of the Landlord’s
breach of this Agreement.

 

    	7

    	 

    

 

		4.	TENANT'S REPRESENTATIVE AND LANDLORD'S REPRESENTATIVE

 

		4.1	Tenant's Representative

 

		(a)	The Tenant shall appoint a competent and authorised person to represent the Tenant and shall notify
in writing the Landlord of the name of such person. The Tenant shall have the right to change the Tenant's Representative at any
time by giving reasonable prior notice in writing to the Landlord.

 

		(b)	All communications between the Landlord and the Tenant may be made through the Tenant's Representative
and any communications directed by the Landlord to the Tenant's Representative shall be deemed to have been received by the Tenant.

 

		4.2	Tenant's Representative's Authority

 

The Tenant's
Representative is authorized by the Tenant to amend, vary or cancel any of the Tenant's previously communicated requirements or
instructions, and to otherwise bind the Tenant to any proposed amendments, variations or cancellations of any specifications in
the Base Plans, Base Specifications or Detailed Plans and Specifications.

 

		4.3	Site Visits by Tenant's Representative

 

The Tenant's
Representative may visit the construction site, Provided always that the Tenant's Representative shall:

 

		(a)	comply with all reasonable rules, regulations and directions of or imposed by the Landlord and/or
the Main Contractor; and

 

		(b)	enter onto the site at his own risk, and the Landlord is not responsible to the Tenant or to the
Tenant's Representative for any death, injury, loss or damage sustained at or originating from the site or the Building, directly
or indirectly caused by, resulting from or in connection with such visit, except where caused by the Landlord's and/or the Main
Contractor's or any of their agents', employees' or sub-contractors' negligence or wilful default.

 

		4.4	Reports and Project Meetings

 

		(a)	The Landlord shall provide the Tenant with copies of all relevant project construction progress
reports issued by the Main Contractor to the Landlord.

 

		(b)	The Landlord shall notify the Tenant’s Representative in advance of all regular project meetings.

 

		(c)	The Tenant’s Representative may attend and participate in the said project meetings referred
to in Clause 4.4(b) above.

 

		4.5	Landlord's Representative

 

		(a)	The Landlord shall appoint such competent and authorised persons to represent the Landlord and
shall notify in writing the Tenant of the names of such persons. The Landlord shall have the right to change the Landlord's Representative
at any time by giving reasonable prior notice in writing to the Tenant.

 

    	8

    	 

    

 

		(b)	All communications between the Landlord and the Tenant may be made through the Landlord's Representative
and any communications directed by the Tenant to the Landlord's Representative shall be deemed to have been received by the Landlord.

 

		(c)	The Landlord’s Representative is authorised by the Landlord to amend, vary or cancel any
of the Landlord’s previously communicated requirements and instructions and bind the Landlord to any proposed amendments,
variations or cancellations of any specifications in the Base Plans, Base Specifications or Detailed Plans and Specifications.

 

		5.	GENERAL OBLIGATIONS OF THE LANDLORD

 

		5.1	Landlord's Obligations

 

		(a)	The Parties acknowledge that the Base Plans and Base Specifications incorporate the requirements
of the Tenant, as agreed with the Tenant, in respect of its general requirements for the design and specifications of the Premises.

 

		(b)	The Landlord shall develop and produce the Detailed Plans and Specifications in accordance with
the Base Plans and Base Specifications. In the preparation of the Detailed Plans and Specifications, the Landlord shall be responsible
for ensuring that:

 

		(a)	these Detailed Plans and Specifications and the design set out therein are adequate and are based
on and in conformity with the content, quality and intent shown and described in the Base Plans and Base Specifications;

 

		(b)	the Building is constructed, installed and commissioned (if applicable) in accordance with the
Detailed Plans and Specifications;

 

		(c)	these Detailed Plans and Specifications comply with all requirements, stipulations, obligations
and conditions of JTC and other relevant Authorities;

 

		(d)	these Detailed Plans and Specifications comply with all requirements and conditions imposed by
the relevant Authorities in respect of the Works;

 

		(e)	wherever necessary, these Detailed Plans and Specifications shall have regard to the Master Schedule
and the obligations of the Landlord under this Agreement including, but not limited to its obligation to issue to the Tenant the
Possession Notice on or before the Estimated Possession Notice Date; and

 

		(f)	these Detailed Plans and Specifications comply with any other applicable requirements contained
in this Agreement.

 

		(c)	The Landlord shall at its own cost develop and complete the Building in accordance with the Detailed
Plans and Specifications, subject to such amendment and modification as may be made thereto in accordance with the provisions of
this Agreement. The Landlord shall ensure that the development works carried out by it are in compliance with applicable Laws and
regulations.

 

		5.2	Drawings, Submission Plans and Operation and Maintenance Manuals

 

		(a)	The Landlord shall provide the Tenant with a complete set of the Detailed Plans and Specifications
for the Works relating to any part of the Premises, as soon as practicable.

 

    	9

    	 

    

 

		(b)	The Landlord shall maintain a complete set of the as-built drawings of the Works showing the dimensions
of the Works as carried out including reference to the Detailed Plans and Specifications, and furnish a set of such as-built drawings
relating to the Premises to the Tenant as soon as practicable after the same have been endorsed by the Authorities.

 

		(c)	In addition, the Landlord shall submit to the Tenant's Representative, the operation and maintenance
manuals for the Works relating to the Premises as soon as practicable.

 

		5.3	The Landlord shall procure that the Main Contractor effects defect liability (maintenance period)
insurance for a minimum period of one (1) year from the date of the TOP.

 

		6.	JTC LEASE DOCUMENTS

 

		6.1	Grant of JTC Lease

 

This offer
of the lease of the Premises and the acceptance thereof is subject to (i) the grant of a lease from JTC to the Landlord for the
Land on the terms and conditions of the JTC Lease Documents and (ii) the Tenant obtaining the necessary approvals from JTC and
all relevant Authorities for the Permitted Use.

 

		6.2	JTC Lease Documents

 

		(a)	The Landlord has provided to the Tenant copies of the JTC Lease Documents issued by JTC pursuant
to the JTC Letter. All stamp duty and registration fees on the JTC Lease Documents shall be borne by the Landlord.

 

		(b)	Neither Party shall cause or do or suffer to be done any act or thing which may as between the
Landlord and JTC constitute or cause a breach by the Landlord of any of the terms, covenants, conditions or stipulations on the
part of the Landlord to be observed or performed by virtue of the JTC Letter (including the terms and conditions contained in the
Schedule of Building Terms and the form of lease (attached to the Schedule of Building Terms), both referred to in the JTC Letter).

 

		7.	MASTER SCHEDULE & KEY MILESTONES

 

		7.1	The Landlord and the Tenant hereby agree that the master schedule (the "Master Schedule")
drawn up and endorsed by the Parties shall form the basis of the Tenant's expectations on timelines and due dates of the Key Milestones
identified in the Master Schedule.

 

		7.2	The Key Milestones identified in the Master Schedule shall include inter alia the estimated
date of the issuance of the Permit to Commence Work, the date of the issuance of the QP Sign-Off and the date of the issuance of
the TOP.

 

		7.3	The Permit to Commence Work shall be issued on or before the expiry of six (6) months from the
date of this Agreement. In the event that the Permit to Commence Work is not issued by the expiry of the said six (6) months, it
is hereby agreed by the Parties that the date of the issuance of the Permit to Commence Work stated in the Master Schedule shall
be extended by the same number of days after the date the Permit to Commence Work shall be issued and the Master Schedule shall
be revised accordingly. The Landlord shall use reasonable efforts to ensure the Permit to Commence Work is issued as quickly as
possible and the Master Schedule shall not be extended if the Landlord is in breach of this obligation to use reasonable efforts
to obtain the Permit to Commence Work as soon as possible.

 

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		7.4	The Master Schedule may be revised from time to time during the course of construction by written
agreement between/written endorsement of the Parties. Nothing in this Agreement shall require either Party to agree to changes
in the Master Schedule which such Party disagrees with.

 

		7.5	The Landlord shall furnish to the Tenant a copy of the CSC relating to the development of the Building
within seven (7) Business Days of receipt by the Landlord.

 

		7.6	Subject to the provisions of this Agreement, the Landlord shall issue to the Tenant a written notice
(the "Possession Notice") to notify the Tenant to take possession of the Premises when the Tenant subsequently
receives a copy of the TOP from the Landlord which written notice is estimated to be issued on or before the expiry of fourteen
(14) months from the date of receiving the Permit to Commence Work from the relevant Authorities (the "Estimated Possession
Notice Date").

 

	7.7	(a)	 The Landlord shall approximately two (2) weeks
before the issuance of TOP, serve the Possession Notice on the Tenant, Provided always that the Possession Notice must be accompanied
by (a) the QP Sign-Off and (b) the NLA Certificate.

 

		(b)	Upon the issuance of TOP, the Landlord shall serve a copy of the TOP on the Tenant whereupon the
Tenant is deemed to have taken possession of the Premises on the date of such service of the copy of the TOP and the term of the
lease under the Lease Agreement shall be deemed to have also commenced on such date, Provided always that the Landlord shall not
be entitled to serve a copy of the TOP on the Tenant under this Clause 7.7(b) unless the Landlord has, at least seven (7) days
before the date of service of the TOP, served the Possession Notice on the Tenant in accordance with the provisions of Clause 7.7(a).

 

		7.8	If there is any delay in the issuance of the TOP, as a result solely of the occurrence of any of
the following events, the TOP Liquidated Damages Date and/or the TOP Rescission Date, as the case may be, shall be extended by
a reasonable period (taking into account the delay caused by the occurrence of such event) as determined by the QP. In the event
that the Tenant does not agree with the QP’s determination of the period of extension, the Parties shall refer the matter
to the President of the SIAC (or other body as the Parties may agree) to appoint a qualified person who shall act as an expert
and not an arbitrator to determine the period of such extension:

 

		(a)	any Force Majeure Event;

 

		(b)	a change in any government legislation, regulations or by-laws from that which were applicable
at the date of this Agreement;

 

		(c)	any act of prevention or breach of contract by the Tenant;

 

		(d)	a requirement from the Authorities for infrastructure diversion which was not applicable and which
neither Party had knowledge of at the date of this Agreement;

 

		(e)	any amendment or modification to the Base Plans or Base Specifications made as a result of any
requirement of JTC or the relevant Authorities which was not applicable at the date of this Agreement;

 

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		(f)	any amendment or modification to the Base Plans or Base Specifications made as a result of a request
by the Tenant or which is approved by the Tenant;

 

		(g)	any variation orders to works requested by the Tenant; and

 

		(h)	any works or activities (including the Tenant's Fitting-Out Works) or act or omission of the Tenant.

 

Provided always
that, in relation to paragraphs (c), (f), (g) and (h), the Landlord shall not be entitled to any extension of time where the instructions,
omissions or acts of, or requests made by the Tenant or the Tenant's Representative are necessitated by or intended to cure any
default of or breach of Agreement by the Landlord.

 

		7.9	In the event that a copy of the TOP is not served on the Tenant by the Landlord in accordance with
Clause 7.7(b):

 

		(a)	by 24 July 2013 for any reason save in the event of paragraph (c) of Clause 7.8, the Landlord shall
grant the Tenant an extension of its lease at 6 Serangoon North Avenue 5 #02-01/02, #02-03, #02-04/05/06, #03-13/14/15/16,
#04-09/10, #02-04/05/06(A1) and #03-13/14/15/16(A1), Serangoon North Industrial Estate, Singapore 554910 (the "Existing
Lease") for a period up to the earlier of the TOP Rescission Date (defined below) and the seventh day following the
day on which the TOP is served on the Tenant by the Landlord in accordance with Clause 7.7(b) (the "Extended Term")
at the same rate of rent and service charge payable under the Existing Lease and on the same terms and conditions of the Existing
Lease;

 

		(b)	(subject to Clause 7.8) by 31 August 2014 (the "TOP Rescission Date"),
the provisions of Clause 18.1(c) shall apply.

 

		7.10	In the event that the Landlord does not serve a copy of the TOP on the Tenant in accordance with
Clause 7.7(b) by 31 October 2013 (the "TOP Liquidated Damages Date"), the
Landlord shall be liable to the Tenant for liquidated damages at the rate of S$1,700 per day for each day of delay from 31 October
2013 to the date of expiry of the Extended Term but provided that if the TOP Liquidated Damages Date is extended by any period
pursuant to Clause 7.8, the Landlord shall not be liable to pay liquidated damages to the Tenant for the delay in respect of such
period but the Landlord shall be liable to pay liquidated damages for any delay in serving a copy of the TOP commencing after the
expiry of such period.

 

		8.	PRE-TOP ACCESS

 

		8.1	Subject to the conditions herein and without prejudice to any other provisions in this Agreement,
the Landlord shall, grant the Tenant access to the Premises from the date no later than eleven
(11) months from the date of issuance of the Permit to Commence Works at no cost to the Tenant
on a non-exclusive basis for the sole purpose of carrying out the Tenant's Fitting-Out Works,
subject to:

 

		(a)	the Tenant submitting all detailed plans and drawings for the Tenant's Fitting-Out Works for the
Premises to the Landlord for approval, which approval shall not be unreasonably withheld or delayed; and

 

		(b)	the Tenant obtaining and delivering to the Landlord the Relevant Consents for the Tenant's Fitting-Out
Works (if any),

 

before such
access is granted by the Landlord to the Tenant. The Landlord shall not be liable to the Tenant if less than ninety (90) days access
to the Premises is granted to the Tenant.

 

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		8.2	In addition and without prejudice to any provision in this Agreement, the grant of access by the
Landlord to the Tenant to the Premises prior to the date of issuance of the TOP shall be on the condition inter alia that
the Tenant complies with the Main Contractor's reasonable directions on the conduct of the Tenant's Fitting-Out Works.

 

		8.3	The Tenant shall be deemed to be a licensee with permitted access to the Premises on a non-exclusive
basis during its pre-TOP access to conduct the Tenant's Fitting-Out Works.

 

		8.4	The Tenant's licence to access the Premises on a non-exclusive basis on the date the Landlord grants
access to the Premises to the Tenant shall be subject to the following terms and conditions:

 

		(a)	the Tenant, its employees, agents, contractors, licensees and invitees enter the Land, the Building,
the Premises and perform the Tenant's Fitting-Out Works at its/their own risk, and the Landlord is not responsible to the Tenant
or to the Tenant's employees, agents, contractors, licensees and invitees for any death, injury, loss or damage sustained at or
originating from the Land, the Building or the Premises, directly or indirectly caused by, resulting from or in connection with
such entry into the Land, the Building, the Premises and/or the performance of the Tenant's Fitting-Out Works unless caused by
the Landlord's and/or the Main Contractor's or any of their agents', employees' or sub-contractors' negligence or willful default;

 

		(b)	the Tenant must first agree with the Main Contractor on the use of access routes through the Land
and the Building;

 

		(c)	the Tenant must make the necessary arrangements with the Main Contractor for the use of any equipment,
electricity, water and other Utilities on site, including refuse disposal, subject to the payment by the Tenant of such charges
as may reasonably be determined by the Main Contractor in respect of such use; and

 

		(d)	the Tenant, its employees, agents, contractors, licensees and invitees must co-ordinate their respective
activities with those of the Main Contractor, and comply with all reasonable instructions of the Main Contractor and the Landlord's
consultants so as not to delay the completion of the Works or the obtaining of the TOP. In this respect, the completion of the
Works and the obtaining of the TOP shall at all times have priority over the Tenant's Fitting-Out Works. Subject to the above provisions,
the Landlord shall and shall ensure that the Main Contractor and the Landlord's consultants provide reasonable assistance and do
not unreasonably hinder the Tenant and its subcontractors enabling them to carry out the Tenant's Fitting-Out Works expeditiously.

 

		9.	TENANT'S FITTING-OUT WORKS

 

		9.1	In carrying out the Tenant's Fitting-Out Works, the Tenant must:

 

		(a)	not carry out any works other than renovation and fitting out works relating only to the erection
of partitions, the installation of machinery and the installation of furniture at or to the Premises;

 

		(b)	appoint the Landlord's nominated contractors, or such contractors which the Landlord may consent
to (such consent not to be unreasonably withheld or delayed) in respect of such works which the Landlord may specify. The Landlord's
nominated contractors appointed by the Tenant pursuant to this Clause shall not be deemed to be agents or employees of the Landlord
and the Tenant shall not have any claim whatsoever against the Landlord in respect of any act, omission, default, misconduct or
negligence of any of the Landlord's nominated contractors;

 

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		(c)	appoint other contractors or consultants of its choice to carry out the rest of the Tenant's Fitting-Out
Works subject to the Landlord's approval (such approval not to be unreasonably withheld or delayed) of those contractors or consultants
(such contractors or consultants as approved by the Landlord shall hereinafter be called the "Approved Contractors").
Such contractor or consultant appointed by the Tenant for the rest of the Tenant's Fitting-Out Works must be an Approved Contractor
before he can start any work. For electrical installations, the Tenant must obtain endorsement from the Landlord's licensed electrical
worker (such endorsement not to be unreasonably withheld or delayed) for such utility application; and

 

		(d)	prior to the commencement of the Tenant's Fitting-Out Works, procure its main contractor to effect
and maintain a comprehensive public liability insurance policy, covering the period from the date of commencement of the Tenant's
Fitting-Out Works to the date of completion of the Tenant's Fitting-Out Works for such amount, having regard to the nature and
scope of the Tenant's Fitting-Out Works, with an insurance company approved by the Landlord (which approval shall not be unreasonably
withheld or delayed), naming the Landlord and the Main Contractor as the co-insured parties for their respective rights and interests.

 

		9.2	In carrying out the Tenant's Fitting-Out Works, the Tenant covenants that:

 

		(a)	the Tenant shall use its best endeavours to procure that no damage, obstruction or interference
is caused by the Tenant, its employees, agents, contractors, licensees or invitees to the Land, the Building, the Premises (including
all installations and equipment provided by the Landlord in the Premises) or the main building works. The Tenant must, at its own
cost and expense, make good to the satisfaction of the Landlord and its contractors and consultants, all such damage or remove
such obstruction or interference;

 

		(b)	(i) the Landlord and other persons authorised by the Landlord, and (ii) the Main Contractor and
other persons authorised by the Main Contractor, may enter the Premises to effect or carry out and complete all works which are
required by the relevant Authorities or which are considered necessary by the Landlord and/or the Main Contractor for the issue
of the TOP and/or QP Sign-Off; and

 

		(c)	the Tenant must not carry out or permit to be carried out any works or activities which may delay
or affect the issue of the TOP or QP Sign-Off. In the event the issue of the TOP or QP Sign-Off is delayed or affected because
of any works or activities (including the Tenant's Fitting-Out Works) or act or omission of the Tenant without prejudice to the
provisions of Clause 7.8(h), the Landlord may, by written notice, require the Tenant, at the Tenant's cost and expense, to carry
out all and any rectification works in order for the Landlord to obtain the TOP and the QP Sign-Off within such time as may be
required by the Landlord. If the Tenant does not comply in time, the Landlord and/or the Main Contractor shall have the right to
carry out such rectification works. The Tenant must pay all costs and expenses incurred by the Landlord, to the Landlord within
fourteen (14) days of the date of a written notice from the Landlord.

 

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		9.3	During and on completion of the Tenant's Fitting-Out Works, the Tenant must promptly remove from
the Premises, the Building and the Land all waste materials and debris resulting from the Tenant's Fitting-Out Works. If the Tenant
does not do so within three (3) days after written notice from the Landlord, the Landlord may remove them and recover the cost
of removal and disposal from the Tenant. A statement from the Landlord (supported by documentary evidence) as to the cost and expenses
of such removal and disposal shall (save for manifest error) be conclusive and binding on the Tenant. All costs and expenses of
such removal and disposal must be paid by the Tenant to the Landlord within fourteen (14) days of the date of the Tenant's receipt
of the statement (together with documentary evidence) from the Landlord.

 

		9.4	On completion of the Tenant's Fitting-Out Works, the Tenant shall submit to the Landlord the as-built
drawings relating to the Tenant's Fitting-Out Works to enable the Landlord to apply for CSC. If the Tenant fails to do so within
two (2) months after written notice from the Landlord, the Landlord shall be entitled to take all action necessary (including engaging
consultants to prepare the relevant as-built drawings and making payments to the Tenant's consultants) for submission of such as-built
drawings to the relevant Authorities. A statement from the Landlord (supported by documentary evidence) as to the expenses incurred
by it for submission of such as-built drawings to the relevant Authorities shall be furnished to the Tenant. All expenses so incurred
by the Landlord together with interest from and including the date of the Tenant's receipt of the statement (together with documentary
evidence) until the date they are paid by the Tenant to the Landlord, shall be paid by the Tenant to the Landlord and if unpaid,
shall be recoverable from the Tenant as if they were rent in arrears.

 

		9.5	The Tenant shall indemnify and keep the Landlord indemnified against:

 

		(a)	the breach, non-observance or non-performance of any Relevant Consents in relation to the Tenant's
Fitting-Out Works; and

 

		(b)	any claims, demands or proceedings brought by any adjoining owner, tenant, occupier or member of
the public arising out of or incidental to the execution of the Tenant's Fitting-Out Works.

 

		9.6	No delay in carrying out and completing all or any of the Tenant's Fitting-Out Works in or at the
Premises, whether caused by any Authorities or otherwise, shall be a ground for postponing the Lease Commencement Date or relieve
in any way the Tenant from the performance and observance of the covenants, conditions, stipulations or agreements herein contained
and on its part to be performed and observed, save that where such delay is caused by the default of the Landlord, the rent free
period to be granted under Clause 10 shall be extended by a period equal to the period of such delay.

 

		10.	POST-TOP RENT FREE PERIOD

 

Subject to
any extension that may be granted pursuant to Clause 9.6, the Tenant shall be granted a rent free period of three (3) months commencing
from the Lease Commencement Date.

 

		10A.	CHANGE IN CONTRACTED NLA

 

The Land is subject to final
survey by JTC and upon finalisation of the survey and notification by JTC to the Landlord of the final surveyed area of the Land,
the Landlord shall based on the advice of the QP and acting reasonably and in good faith, make adjustment to the Contracted NLA
of the Premises (by reason solely of the increase or reduction in the area of the Land based on the final survey by JTC), and will
notify the Tenant in writing the adjusted Contracted NLA of the Premises. The adjusted Contracted NLA shall serve as the "Contracted
NLA" for the purposes of this Agreement and all references to Contracted NLA in this Agreement shall refer to such
adjusted Contracted NLA as determined by the Landlord under this Clause.

 

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		11.	AMENDMENT AND MODIFICATION

 

		11.1	The Landlord shall not make any amendment or modification to the Base Plans and the Base Specifications
insofar as these relate to the Premises, save for such amendment or modification as may be made as a result of:

 

		(a)	any changes in the Contracted NLA pursuant to Clause 10A (only to the extent of reflecting changes
in area where referred to therein as may be affected by the change in Contracted NLA);

 

		(b)	any requirement of JTC or the relevant Authorities; or

 

		(c)	a request by the Tenant which is acceded to by the Landlord; or

 

		(d)	a proposal or request by the Landlord which is acceded to by the Tenant in writing.

 

Any Party requesting
any changes to the Base Plans and Base Specifications shall submit to the other Party the Change Request Form in the form appended
hereto as Appendix 3, annexing drawings and plans where expedient or requested by the other Party, for the other Party's
approval of the changes detailed in the Change Request Form. Where the changes are required pursuant to paragraph (a) above, by
the JTC or relevant Authorities, the Landlord shall communicate the required changes to the Tenant in such form and manner as the
Landlord deems appropriate.

 

		11.2	Nothing in this Clause 11 shall:

 

		(a)	be construed to imply any obligation on the Landlord to accede to any amendment or modification
requested by the Tenant; or

 

		(b)	be construed to imply any obligation on the Tenant to accede to any amendment or modification requested
by the Landlord; or

 

		(c)	prejudice the right of the Landlord to make any amendment or modification, as it deems fit, to
the Base Plans and Base Specifications relating to any part of the Building other than the Premises which does not affect the reasonable
use and enjoyment of the Premises or the Key Parameters.

 

		11.3	Without prejudice to the other provisions of this Agreement, if any amendment or modification is
made to the Base Plans and Base Specifications, the following provisions shall apply:

 

		(a)	Where such amendment or modification to the Base Plans and Base Specifications is:

 

		(i)	(subject to paragraph (b)(i) below) made as a result of any requirement of JTC or the relevant
Authorities to comply with any codes of practice, regulatory requirements or statutory requirements; or

 

		(ii)	initiated, proposed or requested by the Landlord and consented to by the Tenant; or

 

		(iii)	related to any part of the Building other than the Premises; or

 

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		(iv)	due to or necessitated by or is intended to cure any default or breach of contract by the Landlord,

 

any increase
or reduction in cost arising from the implementation of such amendment or modification shall be borne by the Landlord or, as the
case may be, shall accrue solely to the benefit of the Landlord.

 

		(b)	Where such amendment or modification to the Base Plans and Base Specifications is made as a result
of:

 

		(i)	any requirement of JTC or the relevant Authorities to comply with any codes of practice, regulatory
requirements or statutory requirements which are applicable solely by reason of the actual specific use that is required by the
Tenant Provided always that such requirements of JTC or the relevant Authorities are imposed only after this Agreement is entered
into; or

 

		(ii)	a request by the Tenant which request is approved by the Landlord; or

 

		(iii)	a recommendation by the Landlord sought by the Tenant, which recommendation is accepted by the
Tenant,

 

any increase
or reduction in cost arising from the implementation of such amendment or modification shall be solely borne by the Tenant or,
as the case may be, shall accrue solely to the benefit of the Tenant in the manner prescribed in Clause 11.8 below.

 

		11.4	The Landlord shall, (in relation to Clause 11.3(b)(ii)) at the time of the Landlord's approval
and (in relation to Clause 11.3(b)(iii)) at the time of the Landlord's recommendation, notify the Tenant in writing of (1) the
estimated costs of implementing such amendment or modification to the Base Plans and Base Specifications (which shall include but
not be limited to the supply, construction and installation of the relevant materials and the fees payable to the relevant consultants,
contractors and relevant Authorities in relation to the carrying out of such construction works), and (2) the extension required
in respect of the timelines and relevant Key Milestones in the Master Schedule, to enable the Tenant to seek necessary internal
approvals for proceeding with such amendment or modification, and the Tenant shall revert to the Landlord on whether to implement
such amendment or modification to the Base Plans and Base Specifications not later than one (1) week after the date of the Landlord's
approval of the Tenant's requested amendment or the Landlord's recommendation (as the case may be).

 

		11.5	In relation to Clause 11.3(b)(ii), the Landlord shall revert to the Tenant on whether the Tenant's
request to amend or modify the Base Plans or Base Specifications is approved by the Landlord within two (2) weeks of the date of
such request by the Tenant.

 

		11.6	The Tenant shall pay to the Landlord the fees incurred and payable by the Landlord to consultants
engaged by the Landlord to examine or advise upon any proposals by the Tenant for any amendment or modifications to the Base Plans
and Base Specifications after the same have been approved by the relevant Authorities (including any plans, specifications or material
submitted by the Tenant in connection therewith) within fourteen (14) days of a demand from the Landlord (accompanied by invoices
in relation to such fees).

 

		11.7	Where any amendment or modification to the Base Plans and Base Specifications is required to be
made as a result of any requirement of JTC or the relevant Authorities, the Landlord shall consult with the Tenant on the same,
provided that nothing herein shall be construed to imply any obligation on the part of the Landlord to comply with any unreasonable
directions or requirements of the Tenant.

 

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		11.8	Where such amendment or modification to the Base Plans and Base Specifications is made pursuant
to Clause 11.3(b) above, then:

 

		(a)	any increase in costs arising from the implementation of such amendment or modification to be borne
by the Tenant shall be payable within fourteen (14) days after receipt from the Landlord of the Landlord's qualified person certifying
that the relevant works have been completed and the actual amount of cost increase (which shall include but not be limited to the
supply, construction and installation of the relevant materials and the fees payable to the relevant consultants, contractors and
relevant authorities in relation to the carrying out of such construction works); and

 

		(b)	any savings from costs reduction arising from the implementation of such amendment or modification
accruing to the Tenant shall be payable by the Landlord to the Tenant, accompanied by the Landlord's qualified person's certification
that the relevant works have been completed and stating the actual amount of cost reduction. The amount of such cost reduction
shall be set off against the rental payable by the Tenant under the Lease Agreement,

 

Provided always
that the certificate of the qualified person, referred to in Clause 11.8(a) and (b) above shall be final and conclusive and binding
on the Parties (save for errors therein).

 

		12.	DEFECTS

 

		12.1	Remedying Defects

 

Notwithstanding
the Landlord's and Tenant's obligations under the Lease Agreement in respect of repair and maintenance of the Building and upkeep
of the Land, the Landlord must make good at its own cost and expense:

 

		(a)	any defect in the Premises; and

 

		(b)	any defect in such parts of the Building for common enjoyment of occupants in the Building,

 

resulting solely
from the workmanship and/or materials of the Landlord and/or Main Contractor or any of their agents, employees or sub-contractors,
including any damage, shrinkage, deterioration, seepage, leakage, failure, lack of fitness, non-satisfaction of performance specifications
or other requirements under the Detailed Plans and Specifications, or other faults in relation to the Works, which appears or becomes
apparent within the Defects Liability Period.

 

For the avoidance
of doubt, the Landlord shall not be required to make good any defect which is caused by any act, negligence or omission of the
Tenant, its employees, agents, workmen, contractor or invitees.

 

		12.2	Cost of Remedying Defects

 

Subject to
Clause 12.3, all rectification works referred to in Clause 12.1 shall be executed by the Landlord at its own cost.

 

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		12.3	Landlord to Investigate

 

If any defect
in the Premises or in such parts of the Building appears at any time from the commencement of Works to the end of the Defects Liability
Period, the Tenant's Representative may instruct the Landlord to investigate under the direction of the Tenant's Representative
the cause of the defect. If such defect is one which arose from some default by the Landlord and/or the Main Contractor or any
of their agents, employees or sub-contractors, the cost of the work carried out in such investigation shall be borne by the Landlord,
but if such defect(s) arose from the default by the Tenant or any of its agents, employees or sub-contractors, the costs of the
works carried out in such investigations shall be borne by the Tenant.

 

		12.4	Urgent Repairs

 

Notwithstanding
the provisions in Clause 12.1, if due to any accident or failure or other event occurring during the Defects Liability Period,
any remedial or other work shall be urgently necessary for safety and/or security reasons, and the Landlord is unable or unwilling
do such remedial or other work within reasonable time (having regard to the nature of the event and the extent of the remedial
work required), the Tenant shall be entitled to proceed with the necessary remedial work with its own contractors and seek reimbursement
of the costs of such remedial work incurred by the Tenant from the Landlord, such costs of rectification to be supported by documentary
evidence to be produced by the Tenant to the Landlord.

 

		12.5	Liability at Common Law

 

The provisions
of Clauses 12.1 to 12.4 shall not derogate in any way whatsoever from the Landlord's liability under this Agreement or otherwise
for defective work at common law.

 

		13.	NO ASSIGNMENT

 

		13.1	The Tenant shall not assign its interests, rights or benefits under this Agreement nor transfer
its liability under this Agreement except with the prior written consents of JTC and the Landlord (whose consent shall not be unreasonably
delayed or withheld whilst having regard to JTC's conditions as set out in the JTC Lease Documents).

 

		13.2	The Landlord shall not prior to the Lease Commencement Date, assign the interest, rights or benefits
or transfer it obligations and liabilities under this Agreement save only that the Landlord may deal with its interest, rights,
benefits, obligations and liabilities under this Agreement and the Lease Agreement (as the case may be) in accordance with the
terms thereof, in connection with any mortgage or charge or by way of assignment or debenture created by the Landlord over the
Land.

 

		13.3	The Landlord shall not apply for the subdivision of the Building.

 

		13.4	The rights of the Tenant under these Clauses 13.2 and 13.3 are personal to the Tenant and will
not be binding on any party having or acquiring an interest in the Premises including any permitted assignees (except a related
corporation of the Tenant (as defined under the Companies Act of Singapore (Chapter 50 of Singapore)) or sublessees of the Tenant.

 

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		14.	RESCISSION BY LANDLORD UPON THE TENANT'S DEFAULT

 

		14.1	For the purposes of this Clause 14, an event of default shall occur if:

 

		(a)	the Tenant is in breach of the provisions of Clause 13.1; or

 

		(b)	the Tenant becomes insolvent or a judicial manager and/or receiver is appointed in respect of any
properties or assets of the Tenant or distress or execution is enforced against any part of the assets of the Tenant, or if events
or circumstances analogous to any of the foregoing events occurs in relation to the Tenant under the laws of any jurisdiction.

 

		14.2	Upon the occurrence of an event of default under Clause 14.1 at any time prior to the issuance
of the Possession Notice, the Landlord may rescind this Agreement and the Lease Agreement by giving fourteen (14) days' written
notice to the Tenant to that effect (but such rescission shall not prejudice the rights and remedies of either Party against the
other in respect of any antecedent breaches).

 

		14.3	Upon such rescission by the Landlord:

 

		(a)	the Tenant's interest in and the rights in relation to the Premises shall cease and determine;
and

 

		(b)	provided that the Tenant's Fitting-Out Works (whether completed, uncompleted or partially completed)
have been carried out at the date of such rescission by the Landlord, the Tenant shall at its own cost and expense reinstate and
restore the Premises to their original state and condition as at the completion of the Works in accordance with the Landlord's
as-built plans for the Premises (removing all trade equipment of the Tenant that may be installed at the Premises, if any) and
if the Tenant fails to do so, the Landlord may effect the same at the Tenant's cost and expense and all such costs and expenses
to reinstate and restore the Premises to their original state and condition incurred by the Landlord shall be paid by the Tenant
to the Landlord within fourteen (14) days of demand from the Landlord.

 

		15.	EXECUTION AND TERMS OF THE LEASE

 

		15.1	The Parties hereby acknowledge and agree that the commencement date of the Lease Agreement shall
be the date of service by the Landlord on the Tenant of a copy of the TOP pursuant to Clause 7.7(b) (the "Lease Commencement
Date").

 

		15.2	Prior to the commencement of the Lease Agreement, the Landlord shall at its own cost cause to be
carried out a survey of the Premises by a registered surveyor to determine the NLA. The NLA so determined by the registered surveyor
and certified by such registered surveyor in a certificate (the "NLA Certificate") to the Tenant or Landlord
and Tenant (the "Certified Net Lettable Floor Area") shall be final and conclusive. The Certified Net Lettable
Floor Area shall be inserted in the First Schedule of the Lease Agreement as the floor area of the Premises. For the avoidance
of doubt, the rent and service charge payable under the Lease Agreement shall be computed on the Certified Net Lettable Floor Area,
provided that if the Certified Net Lettable Floor Area exceeds 105% of the Contracted NLA, the rent and service charge payable
under the Lease Agreement shall be computed based on 105% of the Contracted NLA.

 

    	20

    	 

    

 

		15.3	The Tenant and the Landlord shall execute the Lease Agreement in duplicate concurrently with their
execution of this Agreement. The Lease Agreement (in duplicate) shall be executed in escrow and held by the Landlord's solicitors
in safekeeping on behalf of the Parties pending the service of a copy of the TOP by the Landlord on the Tenant pursuant to Clause
7.7(b). Subject to the provisions of Clauses 15.4 and 15.5, the Landlord shall obtain the Tenant's prior written consent for all
variations, additions or modifications to the Lease Agreement made after the Parties' execution of the Lease Agreement.

 

		15.4	Upon the service of a copy of the TOP by the Landlord on the Tenant pursuant to Clause 7.7(b):

 

		(a)	the Landlord shall grant to the Tenant and the Tenant hereby agrees to take a lease of the Premises
for the Term on the terms and subject to the conditions set out in the Lease Agreement; and

 

		(b)	it is agreed that:

 

		(a)	the Lease Agreement shall be dated the date of service of a copy of the TOP by the Landlord on
the Tenant pursuant to Clause 7.7(b);

 

		(b)	(after the NLA has been certified by the Landlord's registered surveyor in accordance with Clause
15.2 above) the Certified Net Lettable Floor Area shall be inserted as the floor area of the Premises in the First Schedule of
the Lease Agreement as the NLA;

 

		(c)	the security deposit amount payable by the Tenant for the term shall be inserted in Clause 3 of
the Lease Agreement; and

 

		(d)	upon the determination of the Contracted NLA pursuant to Clause 10A, all references to Contracted
NLA in the Lease Agreement shall be amended to refer to such net lettable floor area as determined and all references to net lettable
area in the Lease Agreement shall be adjusted to take into account the change in Contracted NLA.

 

For the avoidance
of doubt, notwithstanding the date of the Lease Agreement, the commencement date of the Lease Agreement shall be the Lease Commencement
Date as provided in Clause 15.1.

 

		15.5	The Tenant agrees that the Landlord may, prior to the date of perfection of the Lease Agreement,
without the consent of the Tenant:

 

		(a)	make such variations to the Lease Agreement only as may be required pursuant to any applicable
laws, rules or regulations of any relevant regulatory, administrative or supervisory body including without limitation, any relevant
stock exchange or securities council;

 

		(b)	make such additions or modifications to the Lease Agreement or the plans to be annexed to the Lease
Agreement as may be reasonably required to properly describe the Premises or the Building as eventually designed and constructed
if such final design or constructed form is binding on the Tenant under the terms of this Agreement or has been accepted by the
Tenant in writing or as the Premises or the Building may eventually be named or numbered in accordance with the Laws; and

 

    	21

    	 

    

 

		(c)	make such additions to the Lease Agreement in order to complete the dates and other particulars
in the Lease Agreement.

 

		15.6	The Tenant shall be notified in writing of all changes made by the Landlord in accordance with
Clauses 15.4 and 15.5 and a copy of such revisions shall be furnished to the Tenant for the Tenant's information as soon as practicable
but in any event before the commencement of the Lease Agreement.

 

		16.	RIGHTS AND OBLIGATIONS BEFORE EXECUTION OF THE LEASE

 

		16.1	Until the date of perfection of the Lease Agreement,

 

		(a)	the terms of the Lease Agreement will apply and be binding on the Parties as though they had been
incorporated in this Agreement;

 

		(b)	the Parties must comply with their respective obligations in the Lease Agreement;

 

		(c)	the Landlord may use any available remedy for a breach of obligation by the Tenant as if the Lease
Agreement had been granted;

 

		(d)	the Tenant may use any available remedy for a breach of obligation by the Landlord as if the Lease
Agreement had been granted; and

 

		(e)	the Tenant must make all payments in the same manner and at the same times as if the Lease Agreement
had been granted.

 

For the purposes
of Clauses 15 and 16, the "date of perfection" of the Lease Agreement means the date of the Lease Agreement. The Landlord
shall date the Lease Agreement signed in escrow by the Parties in accordance with Clause 15.4 hereof.

 

		16.2	The provisions of this Agreement shall remain in full force and effect after the date of perfection
of the Lease Agreement, in so far as such provisions are still required to be observed and performed and are not repeated or inconsistent
with the Lease Agreement.

 

		17.	SECURITY DEPOSIT

 

		17.1	The Tenant shall furnish a deposit (the "Deposit") with the Landlord for
the sum of S$3.42 million within three (3) days from the date of the signing of this Agreement.

 

		17.2	The Deposit shall be held by the Landlord as security for the due performance and observance by
the Tenant of all the covenants and provisions contained in this Agreement and as security for any claim by the Landlord at any
time against the Tenant in relation to any matter in connection with the Premises whether a lease is subsisting or not.

 

		17.3	If the Tenant commits a breach of any of the provisions of this Agreement or should there be any
default by the Tenant in connection with the giving rise to a right of the Landlord to make a claim against the Tenant, the Landlord
shall, after giving to the Tenant fourteen (14) days' notice (or such longer period as may be reasonable, having regard to the
nature and extent of the breach as may be determined by the Landlord acting reasonably) to rectify such default, and if the default
has not been duly rectified by the Tenant by the expiry of such notice, be entitled but not obliged to apply the Deposit or any
part thereof in or towards payment of monies outstanding or making good the default or to deduct from the Deposit the loss or expense
to the Landlord occasioned by such default but without prejudice to any other remedy which the Landlord may be entitled. If any
part of the Deposit shall be applied by the Landlord as aforesaid, the Tenant shall within fourteen (14) days of demand by the
Landlord deposit with the Landlord the amount set-off by the Landlord from the Deposit. No part of the Deposit shall without the
written consent of the Landlord be set-off by the Tenant against any sums owing to the Landlord under this Agreement.

 

    	22

    	 

    

 

		17.4	If the Deposit is furnished by the Tenant to the Landlord by way of a bank guarantee ("Bank
Guarantee"), the following conditions shall apply:

 

		(a)	the Bank Guarantee shall be irrevocable and unconditional, issued by a commercial bank holding
a full banking licence with the Monetary Authority of Singapore and acceptable to the Landlord, acting reasonably (the ("Guarantor");

 

		(b)	the Bank Guarantee shall:

 

		(i)	have an initial validity period of twelve (12) months commencing from the date of this Agreement
("Initial Period")

 

		(ii)	be automatically extended for a further period of twelve (12) months (each such twelve (12) month
period shall herein be called a "Guaranteed Period") after the expiry of the Initial Period or the relevant
Guaranteed Period (as the case may be), save that in respect of the final Guaranteed Period, the validity period of the Bank Guarantee
shall be extended to the Lease Commencement Date; and

 

		(iii)	have a claim period which shall
                                                               be on a date falling three (3) months after the date of expiry
                                                               of the Initial Period or the Guaranteed Period (as the case may
                                                               be) or in respect of the final Guaranteed Period, three (3) months
                                                               after the Lease Commencement Date; and 

 

		(c)	the Bank Guarantee shall be an "on-demand" bank guarantee in the form attached as Appendix
1, subject to such amendments thereto as the parties may agree.

 

		17.5	If the Guarantor gives to the Landlord
ninety (90) days’ written notice prior to the expiry of the Initial Period or the Guaranteed Period (as the case may be)
of the Guarantor’s intention not to extend this Guarantee in respect of any future extension, the
Landlord shall be entitled upon receiving such notice of the Guarantor’s intention to demand payment under the Bank Guarantee
unless the Tenant provides cash in place of the Bank Guarantee or a replacement Bank Guarantee in the form attached as Appendix
1A before the expiry of the Initial Period or the Guaranteed Period (as the case may be) which shall be valid up to the Lease
Commencement Date and with a claim period of three (3) months after the Lease Commencement Date.

 

		17.6	Upon the Lease Commencement Date, the Deposit (if furnished in cash) shall be transferred to the
account of the security deposit required to be furnished by the Tenant under the Lease Agreement or subject to the Landlord’s
approval, a fresh Bank Guarantee in the form attached as Appendix 1A (with the necessary modifications) shall be furnished
for the security deposit required to be furnished by the Tenant under the Lease.

 

		18.	RESCISSION
                                                                                                           BY TENANT

 

		18.1	For the purpose of this Clause 18, an event of default shall be deemed to have occurred if:

 

		(a)	the Landlord is in breach of the provisions of Clause 13.2; or

 

    	23

    	 

    

 

		(b)	the Landlord becomes insolvent or a judicial manager and/or receiver is appointed in respect of
any properties or assets of Mapletree Industrial Trust over which the Landlord in its capacity as trustee has recourse, or distress
or execution is enforced against any part of such assets, or if events or circumstances analogous to any of the foregoing events
occurs in relation to the Landlord under the laws of any jurisdiction; or

 

		(c)	a copy of the TOP is not served on the Tenant in accordance with Clause 7.7(b) by the TOP Rescission
Date, subject always to Clause 7.8.

 

		18.2	Upon the occurrence of an event of default, the Tenant may at its option rescind this Agreement
and the Lease Agreement by giving fourteen (14) days’ written notice to the Landlord to that effect (but such rescission
shall not prejudice the rights and remedies of either Party against the other in respect of any antecedent breaches).

 

		18.3	Upon such rescission by the Tenant, the Tenant shall not be required to reinstate the Premises
but shall remove all its equipment and vacate the Premises (if it has taken possession) in its existing state.

 

		19.	SIGNAGE RIGHTS

 

		19.1	Signage Rights

 

Subject to
JTC’s consent and the Landlord’s approval (such approval not to be unreasonably delayed or withheld) as to the size,
materials to be used, design and content, the Tenant shall have signage rights in respect of the main facades of the Building Provided
always that the Landlord shall be entitled to display such number of signages equal to the number of signages which the Tenant
is displaying, on any façade of the Building or at any part of the Land without the prior consent of the Tenant. The Landlord
shall not charge the Tenant for the signage rights.

 

		19.2	Costs of Signage Works

 

The costs of
all signage works required by the Tenant and applications to the Authorities for the relevant Approvals relating to the signage
shall be borne by the Tenant

 

		19.3	Pylon Signage

 

			The Tenant shall be entitled to erect a pylon on the Land for the purpose of displaying its signage
subject to the Landlord's approval.

 

		20.	LEGAL FEES AND STAMP DUTY

 

		20.1	The Tenant will be required to pay the estimate stamp duties and any necessary adjudication fees
on the acceptance of this Agreement (in duplicate). Upon the outcome of the stamp duty assessment, where the estimated stamp duty
so paid is less than the assessed duty, the Tenant shall within the time period prescribed by law, top up the shortfall to enable
the Landlord to effect stamping within the time prescribed and any penalty payable arising from delay in stamping attributable
to the Tenant shall be borne by the Tenant. Any excess estimated stamp duty paid by the Tenant shall be refunded to the Tenant
without interest after the assessed duty is known.

 

    	24

    	 

    

 

		20.2	The Tenant shall pay or indemnify the Landlord (on a full indemnity basis) against:

 

		(a)	the stamp duty including penalty fees, adjudication fees and additional stamp duty (if any) in
respect of this Agreement and any other document relating to this Agreement herein and the Lease Agreement; and

 

		(b)	all legal costs and fees and such other expenses incurred by the Landlord in consulting solicitors
and/or in connection with the enforcement of any provision of this Agreement and the Lease Agreement in the event that the Tenant
acknowledges or does not dispute that it is in breach or is adjudged by a court, tribunal
or arbitrator to be in breach of any provision of this Agreement and the Lease Agreement.

 

		20.3	The Parties shall bear their respective legal costs, fees and disbursements incurred by it in connection
with the negotiation, preparation and completion of this Agreement (in duplicate), the Lease Agreement and any other document relating
to this Agreement.

 

		20.4	The Landlord shall pay or indemnify the Tenant (on a full indemnity basis) against all legal costs
and fees and such other expenses incurred by the Tenant in consulting solicitors in connection with the enforcement of any material
provision of this Agreement in the event that the Landlord acknowledges or does not dispute that it is in breach of any material
provision of this Agreement or is adjudged by a court, tribunal or arbitrator to be in breach of any material provision of this
Agreement.

 

		21.	TAXES 

 

		(a)	The rent and other sums payable by the Tenant under this Agreement (hereinafter collectively called
"the Agreed Sum") shall, as between the Landlord and the Tenant, be exclusive of any applicable goods and
services tax, imposition, duty and levy whatsoever (hereinafter collectively called "Taxes") which may
from time to time be imposed or charged before, on or after the commencement of the Term (including any subsequent revisions thereto)
by any government, quasi-government, statutory or tax authority on or calculated by reference to the amount of the Agreed Sum (or
any part thereof) and the Tenant shall pay all such Taxes reimburse the Landlord for the payment of such Taxes, as the case may
be, in such manner and within such period as to comply or enable the Landlord to comply with any applicable orders or directives
of such authorities and the relevant laws and regulations.

 

		(b)	The rights of the Landlord under this Clause shall be in addition and without prejudice to any
other rights or powers of the Landlord under any applicable order or directive of the Authorities or any relevant law or regulation,
to recover from the Tenant the amount of such Taxes which may be or is to be paid or borne by the Landlord.

 

		(c)	The Tenant shall indemnify and hold harmless the Landlord from any losses, damages, claims, demands,
proceedings, actions, costs, expenses, interests and penalties suffered or incurred by the landlord arising from any claim, demand,
proceeding or action that may be made or instituted by the Authorities in respect of such Taxes and resulting from any failure
or delay on the part of the Tenant in the payment and discharge of any such Taxes.

 

		(d)	Without prejudice to Clause 21(a), the Tenant shall not be liable for any income tax that may be
levied or imposed on the income of the Landlord.

 

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		22.	SETTLEMENT OF DISPUTES

 

Reference
to Arbitration

 

In the event
of any dispute between the Parties in connection with or arising out of this Agreement or the Works, including any dispute as to
the existence, validity or termination of this Agreement, the Parties shall refer the dispute for arbitration by a sole arbitrator
agreed upon by the Parties within fourteen (14) days of either Party giving written notice requiring arbitration to the other.
If no agreement can be reached, the arbitrator shall be appointed, on the application of either Party, by the Chairman for the
time being of the Singapore International Arbitration Centre. The place of arbitration shall be Singapore. Any such reference shall
be deemed to be submission to arbitration within the meaning of the Arbitration Act (Chapter 10 of Singapore) or any re-enactment
or modification thereof and be in accordance with the Arbitration Rules of the Singapore International Arbitration Centre at the
time being in force.

 

		23.	RECOVERY BY THE PARTIES

 

		23.1	Wherever in this Agreement provision is made for a Party to recover any amount from the other Party
such amount may be deducted from or reduced by any sum due or to become due at any time thereafter from the first Party to the
other Party under this Agreement or may be recovered by the first Party from the other Party as a debt.

 

		23.2	In the event there is a delay in payment by a Party of any sum to the other Party under this Agreement,
the first-mentioned Party shall be liable to pay interest to the other Party at the rate of twelve per cent (12%) per annum commencing
from the day immediately following the due date of payment up to the actual date of payment.

 

		24.	GOVERNING LAW AND NOTICES

 

		24.1	Law

 

		(a)	The law governing this Agreement and any arbitration commenced under this Agreement shall be the
law of Singapore, and any such arbitration shall be held in Singapore.

 

		(b)	Unless otherwise expressly stated in this Agreement, a person who is not a party to this Agreement
shall have no right under the Contracts (Rights of Third Parties) Act (Chapter 53B of Singapore) to enforce any of its terms.

 

		24.2	Notices

 

		(a)	Each Party shall provide an address in Singapore for service of document (hereinafter referred
to as the "Service Address").

 

		(b)	Each Party shall give fourteen (14) days written notice to the other Party before any change in
the Service Address.

 

		(c)	All certificates, notices or instruction to be given by a Party to the other Party under the terms
of the Agreement shall be sent by post or facsimile transmission to or left at the Service Address.

 

    	26

    	 

    

 

		(d)	Without prejudice to any other method of service that is authorised by law, service of any originating
process by a Party on the other Party shall be deemed to be due service if it is posted to or left at the Service Address.

 

		25.	MISCELLANEOUS

 

		25.1	Variation of Agreement

 

This Agreement
may not be varied except by an agreement in writing signed by the duly authorised representative of both Parties.

 

		25.2	Representations

 

It is acknowledged
by the Parties that in relation to this Agreement, each Party has not acted or relied on any representations made by or on behalf
of the other Party except those which are contained in this Agreement (if any). This Agreement and the Lease Agreement constitute
the entire contract between the Parties. However, nothing in this Clause shall affect the validity and binding effect of any subsequent
agreements in writing signed between the Parties.

 

		25.3	Non-Merger

 

The provisions
of this Agreement shall remain in full force and effect after the grant of the Lease Agreement, in so far as they are still required
to be observed and performed and are not repeated or inconsistent with the Lease Agreement.

 

		26.	ACKNOWLEDGEMENT BY PARTIES

 

		26.1	Capacity

 

Notwithstanding
any provision to the contrary in this Agreement, each of the parties to this Agreement acknowledges and agrees that the Landlord
has entered into this Agreement only in its capacity as trustee of Mapletree Industrial Trust and not in the Landlord’s personal
capacity and all references to the Landlord in this Agreement shall be construed accordingly. Accordingly, notwithstanding any
provision in this Agreement, the Landlord has assumed all obligations under this Agreement in its capacity as trustee of Mapletree
Industrial Trust and not in its personal capacity and any liability of or indemnity given by the Landlord under this Agreement
any power or right conferred on any receiver, attorney, agent and/or delegate is limited to the assets of Mapletree Industrial
Trust over which the Landlord has recourse and shall not extend to any personal or other assets of the Landlord or any assets held
by the Landlord as trustee of any trust (other than Mapletree Industrial Trust). Any obligation, matter, act, action or thing required
to be done, performed or undertaken by the Landlord under this Agreement shall only be in connection with matters relating to Mapletree
Industrial Trust (and shall not extend to the Landlord’s obligations in respect of any other trust or real estate investment
trust of which it is a trustee). 

 

		26.2	No recourse

 

It
is hereby agreed that the Landlord’s obligations under this Agreement will be solely the corporate obligations of the Landlord
and there shall be no recourse against the shareholders, directors, officers or employees of the Landlord for any claims, losses,
damages, liabilities or other obligations whatsoever in connection with any of the transactions contemplated by the provisions
of this Agreement. 

 

    	27

    	 

    

 

		26.3	Legal action or proceedings

 

For
the avoidance of doubt, any legal action or proceedings commenced against the Landlord whether in Singapore or elsewhere pursuant
to this Agreement shall be brought against the Landlord in its capacity as trustee of Mapletree Industrial Trust and not in its
personal capacity. 

 

		27.	CONFIDENTIALITY OF INFORMATION

 

Both Parties
agree to hold all the terms and conditions of this Agreement in strict confidence and not to disclose the same to any party except
to each Party's respective shareholders, officers and employees who are directly involved in this Agreement. Notwithstanding the
aforesaid, the confidentiality obligations shall not apply to:

 

		(a)	any information which is already generally known to the public and which is not released to the
public domain in breach of either Party's confidentiality obligations hereunder;

 

		(b)	any information which is required to be disclosed pursuant to any applicable laws or to any Authorities
or pursuant to rules or regulations of any relevant regulatory, administrative or supervisory body (including without limitation,
any relevant stock exchange or securities council) including in the event of a public listing of securities within the meaning
of the Securities and Futures Act (Chapter 289 of Singapore) affecting the Premises, any information where such disclosure is required
by the prevailing listing rules, a regulatory authority or stock exchange or as part of a due diligence exercise;

 

		(c)	any information which is required to be disclosed by law or pursuant to any legal process issued
by any court of law or tribunal in Singapore and any disclosure to a court of law, arbitrator, tribunal or mediator in connection
with any legal proceedings, arbitration or mediation shall be deemed to be disclosure required by law;

 

		(d)	any information disclosed by either of the Parties to their respective bankers, financial advisors,
auditors, consultants, Main Contractor, licensed valuers and legal or other advisors;

 

		(e)	any information which is required to be disclosed to the holding company of either Party and either
Party's branches or offices or related corporations (as defined in the Companies Act (Chapter 50 of Singapore);

 

		(f)	(in respect of either Party's confidentiality obligation) any information which is required to
be disclosed to any actual or potential purchaser or transferee of the Building or any part thereof, any actual or potential assignee
of either Party, any actual or potential investor, mortgagee, chargee, financial adviser, consultant, valuer, manager, trustee,
legal or other advisers in either Party or the Building or any part thereof (collectively, "Interested Parties"),
or to any actual or potential banker, mortgagee, chargee, financial advisor, consultant, valuer, manager, trustee, legal or other
advisers of any of the Interested Parties, and in connection with such disclosure, either Party is entitled to include any such
information in any document which is publicly available;

 

		(g)	any information which either Party has consented in writing to its disclosure by the other Party;
and

 

    	28

    	 

    

 

		(h)	any information disclosed to potential tenants in the Building for the purposes of evidencing the
Landlord’s obligations under this Agreement when marketing the premises in the Building.

 

[The rest of this page
is intentionally left blank.]

 

    	29

    	 

    

 

APPENDIX
1

 

FORM
OF BANK GUARANTEE

(FOR
THE SECURITY DEPOSIT AMOUNT)

 

	Date	:	[·]
	 	 	 
	To	:	DBS TRUSTEE LIMITED AS TRUSTEE OF MAPLETREE INDUSTRIAL TRUST
	 	 	 
	 	 	("Landlord")

 

Dear Sirs

 

OUR BANK GUARANTEE NO: ___________________
FOR S$3.42 MILLION________________

 

		1.	IN CONSIDERATION OF the Landlord agreeing to:

 

		(a)	develop and lease to KULICKE & SOFFA PTE. LTD. ("Tenant") the
property known as [·] ("Property"), on the terms and conditions
of an agreement to develop and lease ("Agreement") dated [●] and a lease, both to be entered into
between the Landlord and the Tenant; and

 

		(b)	allow the Tenant to furnish a bank guarantee for the whole of the Deposit amount (as defined in
the Agreement) required under the Agreement,

 

we [●] ("Guarantor"),
irrevocably and unconditionally, agree, as a primary obligation ("guaranteed obligation"), to pay to the
Landlord on demand in writing by the Landlord, any sum or sums demanded not exceeding in aggregate the sum of S$3.42 million ("Guaranteed
Sum").

 

		2.	Payment of the Guaranteed Sum shall be made by the Guarantor to the Landlord:

 

		(a)	whether or not the Guarantor gives prior notice of the payment to the Tenant;

 

		(b)	despite any dispute between the Landlord and the Tenant or any notice given to the Guarantor by
the Tenant not to pay to the Landlord any sums payable under this Guarantee; and

 

		(c)	irrespective of the performance or non-performance by the Tenant or the Landlord of the terms of
the Agreement or any obligation under or in connection with the Agreement in any respect.

 

		3.	The Guarantor's liability under this Guarantee is not affected or discharged in any way by:

 

		(a)	any variation of the Agreement; or

 

		(b)	any extension of time or other forbearance given by the Landlord to the Tenant; or

 

		(c)	the insolvency, bankruptcy, winding up or judicial management (as may be the case) of the Tenant;
or

 

    	30

    	 

    

 

 

		(d)	any
                                                               other circumstance, act or omission which (except for this provision)
                                                               may operate to exonerate the Guarantor from that liability or affect
                                                               that liability at law or in equity.

 

		4.	It is expressly
                                                          acknowledged and declared that partial and multiple drawings on this
                                                          Guarantee are permitted.

 

		5.	This Guarantee
                                                          is a continuing security and remains in full force and effect from [insert
                                                          effective date] until [insert expiry date] ("Expiry
                                                          Date") provided always that the Expiry Date and the Guarantor’s
                                                          liability thereunder shall be automatically extended for successive
                                                          periods of twelve (12) months unless the Guarantor gives to the Landlord
                                                          ninety (90) days’ written notice prior to the Expiry Date of the
                                                          Guarantor’s intention not to extend this Guarantee in respect
                                                          of any future extension and provided further that in such an event,
                                                          the Landlord shall be entitled upon receiving such notice of the Guarantor’s
                                                          intention that this Guarantee is not extended, and within the period
                                                          specified in Clause 7 hereof, to make a claim under this Guarantee and
                                                          the Guarantor shall pay the Guaranteed Sum.

 

		6.	This Guarantee
                                                          is governed by and will be construed in accordance with the laws of
                                                          the Republic of Singapore.

 

		7.	Any claim
                                                          under this Guarantee must be made in writing not later than three (3)
                                                          months after the Expiry Date and must be delivered personally or sent
                                                          by prepaid registered post addressed to the Guarantor.

 

		8.	In the event
                                                          of any assignment by the Landlord of its rights and benefits under this
                                                          Guarantee to any subsequent purchaser(s) of the Property, all references
                                                          to "Landlord" in this Guarantee shall thenceforth mean
                                                          and refer to any such assignee.

 

		9.	A person
                                                          who is not the Guarantor, a successor of the Guarantor, the Landlord
                                                          or a successor or assign of the Landlord, has no right under the Contracts
                                                          (Rights of Third Parties) Act (Chapter 53B of Singapore) to enforce
                                                          any term of this Guarantee.

 

Yours faithfully

for (Bank issuing
the Bank Guarantee)

 

	 	 	 
	Date:	 	Name of signatory(ies):
	 	 	Designation:

 

    	31

    	 

    

 

APPENDIX
1A

 

FORM
OF BANK GUARANTEE

(FOR
THE SECURITY DEPOSIT AMOUNT)

 

	Date	:	[·]
	 	 	 
	To	:	DBS TRUSTEE LIMITED AS TRUSTEE OF MAPLETREE
    INDUSTRIAL TRUST
	 	 	 
	 	 	("Landlord")

 

Dear Sirs

 

OUR BANK
GUARANTEE NO: ___________________ FOR S$ 3.42 MILLION________________

 

		1.	IN CONSIDERATION
                                                          OF the Landlord agreeing to:

 

		(a)	lease
                                                               to KULICKE & SOFFA PTE. LTD. ("Tenant")
                                                               the property known as [·]
                                                               ("Property"), on the terms and conditions
                                                               of a lease agreement ("Agreement") dated
                                                               [●] entered into between the Landlord and the Tenant; and

 

		(b)	allow
                                                               the Tenant to furnish a bank guarantee for the whole of the Deposit
                                                               amount (as defined in the Agreement) required under the Agreement,

 

we
[●] ("Guarantor"), irrevocably and unconditionally, agree, as a primary obligation ("guaranteed
obligation"), to pay to the Landlord on demand in writing by the Landlord, any sum or sums demanded not exceeding
in aggregate the sum of S$[3.42 million] ("Guaranteed Sum").

 

		2.	Payment of
                                                          the Guaranteed Sum shall be made by the Guarantor to the Landlord:

 

		(a)	whether
                                                               or not the Guarantor gives prior notice of the payment to the Tenant;

 

		(b)	despite
                                                               any dispute between the Landlord and the Tenant or any notice given
                                                               to the Guarantor by the Tenant not to pay to the Landlord any sums
                                                               payable under this Guarantee; and

 

		(c)	irrespective
                                                               of the performance or non-performance by the Tenant or the Landlord
                                                               of the terms of the Agreement or any obligation under or in connection
                                                               with the Agreement in any respect.

 

		3.	The Guarantor's
                                                          liability under this Guarantee is not affected or discharged in any
                                                          way by:

 

		(a)	any
                                                               variation of the Agreement; or

 

		(b)	any
                                                               extension of time or other forbearance given by the Landlord to
                                                               the Tenant; or

 

		(c)	the
                                                               insolvency, bankruptcy, winding up or judicial management (as may
                                                               be the case) of the Tenant; or

 

		(d)	any
                                                               other circumstance, act or omission which (except for this provision)
                                                               may operate to exonerate the Guarantor from that liability or affect
                                                               that liability at law or in equity.

 

    	32

    	 

    

 

		4.	It is expressly
                                                          acknowledged and declared that partial and multiple drawings on this
                                                          Guarantee are permitted.

 

		5.	This Guarantee
                                                          is a continuing security and shall remain in full force and effect from
                                                          [insert effective date] until [insert expiry date] ("Expiry
                                                          Date").

 

		6.	This Guarantee
                                                          is governed by and will be construed in accordance with the laws of
                                                          the Republic of Singapore.

 

		7.	Any claim
                                                          under this Guarantee must be made in writing not later than three (3)
                                                          months after the Expiry Date and must be delivered personally or sent
                                                          by prepaid registered post addressed to the Guarantor.

 

		8.	In the event
                                                          of any assignment by the Landlord of its rights and benefits under this
                                                          Guarantee to any subsequent purchaser(s) of the Property, all references
                                                          to "Landlord" in this Guarantee shall thenceforth mean
                                                          and refer to any such assignee.

 

		9.	A person
                                                          who is not the Guarantor, a successor of the Guarantor, the Landlord
                                                          or a successor or assign of the Landlord, has no right under the Contracts
                                                          (Rights of Third Parties) Act (Chapter 53B of Singapore) to enforce
                                                          any term of this Guarantee.

 

Yours faithfully

for (Bank issuing
the Bank Guarantee)

 

	 	 	 
	Date:	 	Name of signatory(ies):
	 	 	Designation:

 

    	33

    	 

    

 

APPENDIX
2

 

BASE
PLANS AND BASE SPECIFICATIONS

 

Base
Plan: Site Plan 

 

    	34

    	 

    

 

Base
Plan: 1st Storey Plan

 

    	35

    	 

    

 

Base
Plan: 2nd Storey Plan

 

    	36

    	 

    

 

Base
Plan: 3rd Storey Plan

 

    	37

    	 

    

 

Base
Plan: 5th Storey Plan

 

    	38

    	 

    

 

Base
Plan: Roof PlanS

 

    	39

    	 

    

 

Base Plan: Elevation (1)

 

    	40

    	 

    

 

Base Plan: Elevation (2)

 

    	41

    	 

    

 

Base
Plan: Section Plan

 

    	42

    	 

    

 

Base
Plan: Artist’s Impression

 

    	43

    	 

    

 

Base
Specifications

 

CONTENT PAGE

 

		1.	DESCRIPTION OF WORK

 

		2.	TECHNICAL DATA

 

		3.	EXCLUSIONS

  

    	44

    	 

    

 

		1.	DESCRIPTION
                                                                                                                    OF WORK

 

The Extent
of Work includes the Build-to-Suit of a 5-storey production facility for Kulicke and Soffa. The work includes the following:

 

		v	Structural
                                                                                                      Works

 

		v	Architectural
                                                                                                      Works

 

		v	External
                                                                                                      Works

 

		v	M&E
                                                                                                      Services :

 

		-	Air-conditioning
                                                                                                                               System

		-	Mechanical
                                                                                                                               Ventilation
                                                                                                                               System

		-	Engineered
                                                                                                                               Smoke
                                                                                                                               Control
                                                                                                                               System
                                                                                                                               (if
                                                                                                                               necessary)

		-	Fire
                                                                                                                               Protection
                                                                                                                               System

		-	Water
                                                                                                                               Reticulation
                                                                                                                               System

		-	Sanitary
                                                                                                                               &
                                                                                                                               Plumbing
                                                                                                                               System

		-	Electrical
                                                                                                                               System

		-	Lighting
                                                                                                                               &
                                                                                                                               Power
                                                                                                                               Requirement

		-	Security
                                                                                                                               System

		-	Communication
                                                                                                                               System

		-	Vertical
                                                                                                                               Transport
                                                                                                                               System

 

		v	All
                                                                                                      works will be designed and
                                                                                                      constructed according to
                                                                                                      the relevant Code of Practices,
                                                                                                      authorities' requirements
                                                                                                      and National Productivity
                                                                                                      and Quality Specifications
                                                                                                      (“NPQS”).

 

		v	The
                                                                                                      development is subject to
                                                                                                      the development target of
                                                                                                      Greenmark Gold Certification.

 

    	45

    	 

    

  

		2.	TECHNICAL DATA

 

		2.1.	Area Breakdown

 

	Site Area	:	12,346 m2
	GFA	:	Approx 30,865 m2
	Proposed Plot Ratio	:	2.5

 

 

	Description	 	GFA (m2)	 	 	GFA (ft2)	 	 	NLA (ft2)
    K&S	 	 	NLA (ft2) Others	 
	1st Storey	 	 	6,686	 	 	 	71,968	 	 	 	45,673	 	 	 	11,069	 
	2nd Storey	 	 	326	 	 	 	3,509	 	 	 	-	 	 	 	-	 
	3rd Storey	 	 	8,309	 	 	 	89,437	 	 	 	82,796	 	 	 	-	 
	4th Storey	 	 	8,099	 	 	 	87,177	 	 	 	-	 	 	 	76,584	 
	5th Storey	 	 	6,979	 	 	 	75,121	 	 	 	69,665	 	 	 	-	 
	Roof	 	 	465	 	 	 	5,005	 	 	 	-	 	 	 	-	 
	TOTAL	 	 	30,864	 	 	 	332,217	 	 	 	198,134	 	 	 	87,653	 

 

    	46

    	 

    

 

		2.2.	Structural Works

 

		v	All
                                                                                                          structural works shall
                                                                                                          be designed and constructed
                                                                                                          in accordance with the
                                                                                                          relevant Singapore Code
                                                                                                          of Practice (CP) and
                                                                                                          British Standards (BS)
                                                                                                          unless otherwise directed
                                                                                                          by the Engineer.

 

		(a)	Floor Design Loading

 

	Area	 	Floor Loading (KN / m2)
	1st storey warehouse	 	20.0
	2nd storey carpark	 	2.5
	3rd – 5th storey Production / R&D / Office	 	15.0
	Other Ancillary Areas	 	Designed to Suit

 

		(b)	Floor to Floor Height

 

	Storey	 	Floor to Floor Height (m)
	First storey warehouse	 	8.0
	2nd storey carpark	 	3.2
	3rd – 5th storey Production / R&D / Office	 	6.0
	Other Ancillary Areas	 	Designed to Suit

 

		(c)	Foundation

 

The building shall be designed
to be supported on pile foundation, with RC-Driven Piles or Bored Piles.

 

Ground floor slab is designed
to be suspended flat slab system with perimeter beams.

 

		(d)	Upper Slab

 

Upper slabs are designed as
post-tensioned flat slab system with drop panels or pre-stressed one way banded beams system where applicable.

 

		(e)	Column

 

The columns are cast in-situ
reinforced concrete supported on pile foundation.

 

		(f)	Roof

The roof consists of partial
RC Flat roof and metal roof. The RC flat roof is to be waterproofed and designed to support M&E services and equipments. Metal
roof (Zipdek, Klip-lok or equivalent) is designed to be structural steel system supported on main columns with rockwool blanket
50mm thick x 64 kg/m3 and with mesh support.

 

    	47

    	 

    

 

		2.3.	Architectural
                                                                 Works

 

		(a)	External Façade
                                                                  & Finishes

 

Main Facade

		-	Combination
                                                                                                                               of
                                                                                                                               curtain
                                                                                                                               wall,
                                                                                                                               aluminum
                                                                                                                               cladding
                                                                                                                               and
                                                                                                                               windows.

 

		-	Windows
                                                                                                                               shall
                                                                                                                               be
                                                                                                                               aluminum
                                                                                                                               frame
                                                                                                                               windows
                                                                                                                               with
                                                                                                                               6mm
                                                                                                                               thick
                                                                                                                               tinted
                                                                                                                               float
                                                                                                                               glass.

 

Other Facades

		-	Acrylic
                                                                                                                               emulsion
                                                                                                                               coating
                                                                                                                               on
                                                                                                                               masonry
                                                                                                                               wall
                                                                                                                               with
                                                                                                                               window
                                                                                                                               openings.

 

		(b)	Internal Finishes (TOP)

 

	Description	 	Floor	 	Wall	 	Ceiling
	Tenants
    Area
	Warehouse / Production / R&D Areas	 	Concrete with Polyurethane finish (PC Rate: $30 per m2)	 	Plaster and paint (perimeter walls only)	 	Concrete with paint finish
	 	 	 	 	 	 	 
	Office Area	 	Concrete	 	Plaster and paint

        (perimeter walls only)
	 	Mineral fibre ceiling board
	 	 	 	 	 	 	 
	Common
    Area
	Main Lobby	 	Granite tiles	 	Plaster and paint	 	Fibrous plaster ceiling
	 	 	 	 	 	 	 
	Other Common Lobbies	 	Homogeneous tiles	 	Plaster and paint	 	Fibrous plaster ceiling
	 	 	 	 	 	 	 
	Cargo Lift Lobbies	 	Concrete	 	Plaster and paint	 	Concrete with paint finish
	 	 	 	 	 	 	 
	Toilets	 	Homogeneous tiles	 	Homogenous tiles	 	Calcium silicate board

  

		(c)	ROOF AND CANOPY

 

		-	The
                                                                                                                                roof
                                                                                                                                is
                                                                                                                                to
                                                                                                                                slope
                                                                                                                                as
                                                                                                                                per
                                                                                                                                Architectural
                                                                                                                                plans
                                                                                                                                without
                                                                                                                                rainwater
                                                                                                                                gutters
                                                                                                                                unless
                                                                                                                                site
                                                                                                                                condition
                                                                                                                                requires.
                                                                                                                                (Gutters
                                                                                                                                subjected
                                                                                                                                to
                                                                                                                                authority
                                                                                                                                approval.)

 

		-	Pedestrian
                                                                                                                                canopy
                                                                                                                                at
                                                                                                                                the
                                                                                                                                first
                                                                                                                                storey
                                                                                                                                and
                                                                                                                                on
                                                                                                                                5th
                                                                                                                                storey
                                                                                                                                terrace
                                                                                                                                doors
                                                                                                                                entrances
                                                                                                                                to
                                                                                                                                be
                                                                                                                                of
                                                                                                                                composite
                                                                                                                                material
                                                                                                                                with
                                                                                                                                metal
                                                                                                                                skins
                                                                                                                                construction
                                                                                                                                on
                                                                                                                                tubular
                                                                                                                                framing
                                                                                                                                supported
                                                                                                                                by
                                                                                                                                side
                                                                                                                                wall
                                                                                                                                and
                                                                                                                                columns.

 

		(d)	SIDEWALLS

 

		-	The
                                                                                                                                external
                                                                                                                                walls
                                                                                                                                are
                                                                                                                                to
                                                                                                                                be
                                                                                                                                constructed
                                                                                                                                with
                                                                                                                                masonry
                                                                                                                                walls.

 

		-	Internal
                                                                                                                                walls
                                                                                                                                are
                                                                                                                                to
                                                                                                                                be
                                                                                                                                constructed
                                                                                                                                in
                                                                                                                                100mm
                                                                                                                                thick
                                                                                                                                block
                                                                                                                                wall
                                                                                                                                rendered
                                                                                                                                and
                                                                                                                                painted
                                                                                                                                on
                                                                                                                                both
                                                                                                                                sides.

 

		-	Windows
                                                                                                                                are
                                                                                                                                to
                                                                                                                                be
                                                                                                                                aluminum
                                                                                                                                powder
                                                                                                                                coated
                                                                                                                                with
                                                                                                                                tinted
                                                                                                                                glass.

 

    	48

    	 

    

 

		(e)	ROLLER SHUTTERS

 

		-	Electrically-operated
                                                                                                                                roller
                                                                                                                                shutters
                                                                                                                                at
                                                                                                                                3rd,
                                                                                                                                4th
                                                                                                                                and
                                                                                                                                5th
                                                                                                                                storey
                                                                                                                                shall
                                                                                                                                be
                                                                                                                                6.0m
                                                                                                                                wide
                                                                                                                                by
                                                                                                                                4.0m
                                                                                                                                high.

 

		(f)	LOADING DOCK 

 

		-	Angle
                                                                                                                                Guards
                                                                                                                                to
                                                                                                                                be
                                                                                                                                provided
                                                                                                                                to
                                                                                                                                all
                                                                                                                                door
                                                                                                                                entrances
                                                                                                                                to
                                                                                                                                the
                                                                                                                                loading
                                                                                                                                dock.

 

		-	Edge
                                                                                                                                protection
                                                                                                                                is
                                                                                                                                to
                                                                                                                                be
                                                                                                                                installed
                                                                                                                                along
                                                                                                                                the
                                                                                                                                loading
                                                                                                                                dock.

 

		-	Dock
                                                                                                                                Levelers
                                                                                                                                shall
                                                                                                                                have
                                                                                                                                the
                                                                                                                                rated
                                                                                                                                capacity
                                                                                                                                of
                                                                                                                                minimum
                                                                                                                                13,000kg
                                                                                                                                of
                                                                                                                                load
                                                                                                                                with
                                                                                                                                deck
                                                                                                                                width
                                                                                                                                1830mm
                                                                                                                                x
                                                                                                                                deck
                                                                                                                                length
                                                                                                                                2125mm,
                                                                                                                                single
                                                                                                                                button
                                                                                                                                control
                                                                                                                                station,
                                                                                                                                hydraulic
                                                                                                                                operated.
                                                                                                                                (MHE/KELLY
                                                                                                                                or
                                                                                                                                equivalent).

 

		(g)	PERIMETER FENCE

 

		-	1.80m
                                                                                                                                (6ft)
                                                                                                                                tall
                                                                                                                                hot
                                                                                                                                dip
                                                                                                                                galvanized
                                                                                                                                BRC
                                                                                                                                mesh
                                                                                                                                with
                                                                                                                                vertical
                                                                                                                                wires
                                                                                                                                opening
                                                                                                                                no
                                                                                                                                greater
                                                                                                                                than
                                                                                                                                50mm.
                                                                                                                                (Only
                                                                                                                                at
                                                                                                                                back
                                                                                                                                of
                                                                                                                                building).

 

		(h)	DOORS

 

		-	All
                                                                                                                                external
                                                                                                                                doors
                                                                                                                                must
                                                                                                                                be
                                                                                                                                of
                                                                                                                                metal
                                                                                                                                construction.

 

		-	Doors
                                                                                                                                are
                                                                                                                                to
                                                                                                                                be
                                                                                                                                equipped
                                                                                                                                with
                                                                                                                                automatic
                                                                                                                                door
                                                                                                                                closing
                                                                                                                                devices
                                                                                                                                and
                                                                                                                                fitted
                                                                                                                                with
                                                                                                                                strong
                                                                                                                                dead
                                                                                                                                bolts
                                                                                                                                and
                                                                                                                                heavy
                                                                                                                                latches.

 

		-	All
                                                                                                                                office
                                                                                                                                doors
                                                                                                                                are
                                                                                                                                to
                                                                                                                                be
                                                                                                                                installed
                                                                                                                                with
                                                                                                                                dead
                                                                                                                                bolts.

 

		-	Doors
                                                                                                                                assigned
                                                                                                                                as
                                                                                                                                emergency
                                                                                                                                exits
                                                                                                                                should
                                                                                                                                have
                                                                                                                                exterior
                                                                                                                                hardware
                                                                                                                                removed
                                                                                                                                so
                                                                                                                                that
                                                                                                                                they
                                                                                                                                cannot
                                                                                                                                be
                                                                                                                                opened
                                                                                                                                from
                                                                                                                                the
                                                                                                                                outside.

 

		(i)	BUILDING SIGNAGES

 

		-	TOP
                                                                                                                                signages
                                                                                                                                as
                                                                                                                                required
                                                                                                                                by
                                                                                                                                Building
                                                                                                                                Regulations
                                                                                                                                all
                                                                                                                                other
                                                                                                                                building
                                                                                                                                signages
                                                                                                                                are
                                                                                                                                excluded.

 

    	49

    	 

    

 

		2.4.	External Works

 

		(j)	Scope of Work

 

		v	Entrances
                                                                                                         include culvert drains

 

		v	Non-suspended
                                                                                                         driveway as per specifications

 

		v	Car
                                                                                                         Park Lots

 

		v	Bicycle
                                                                                                         Lots

 

		v	Surface
                                                                                                         water drainage

 

		v	1
                                                                                                         x Guard House

 

		v	Bin
                                                                                                         Centre

 

		v	Driveway

		-	All
                                                                                                                            driveways
                                                                                                                            should
                                                                                                                            be
                                                                                                                            paved
                                                                                                                            with
                                                                                                                            bituminous
                                                                                                                            finish.

		-	Parking
                                                                                                                            areas
                                                                                                                            divided
                                                                                                                            into
                                                                                                                            lots
                                                                                                                            by
                                                                                                                            white
                                                                                                                            lines.

		-	Road
                                                                                                                            signage
                                                                                                                            provided
                                                                                                                            as
                                                                                                                            per
                                                                                                                            regulation.

		-	Truck
                                                                                                                            parking
                                                                                                                            at
                                                                                                                            loading
                                                                                                                            and
                                                                                                                            unloading
                                                                                                                            area
                                                                                                                            to
                                                                                                                            be
                                                                                                                            in
                                                                                                                            concrete.

 

		v	Landscaping

 

		-	Provisional
                                                                                                                            sum
                                                                                                                            of
                                                                                                                            S$50,000
                                                                                                                            for
                                                                                                                            Landscaping.

 

    	50

    	 

    

 

		2.5.	M&E Detailed
                                                                 Design Write-Up

 

		2.5.1.	INTRODUCTION

 

The extent of building
services systems cover:

 

vAir-conditioning
System

 

vMechanical
Ventilation System

 

vEngineered
Smoke Control System (if necessary)

 

vFire
Protection System

 

vWater
Reticulation System

 

vSanitary
& Plumbing System

 

vElectrical
System

 

vLighting
& Power Requirement

 

vSecurity
System

 

vCommunication
System

 

vVertical
Transport System

 

    	51

    	 

    

 

		2.5.2.	STANDARD AND
                                                                   STATUTORY REQUIREMENTS

 

All building services systems
shall be designed to comply with the latest version of the following standards and local code of practices.

 

		a.	SS 530 - Code of Practice for Energy
                                                               Efficiency Standard for Building Services and Equipment

		b.	SS 531 – Code of Practice
                                                               for Artificial Lighting in Buildings

		c.	SS 535 : 2007 – Code of Practice
                                                               for Installation, Operation, Maintenance and Constructional Requirements
                                                               of Mains Failure Standby Generating Systems

		d.	SS 538 : 2008 - Code of Practice
                                                               for Maintenance of Electrical Equipment of Electrical Installations

		e.	SS 546: 2009 – Code of Practice
                                                               for Emergency Voice Communication Systems in Buildings

		f.	SS 550 : 2009 – Code of Practice
                                                               for Installation, Operation and Maintenance of Electric Passenger
                                                               and Goods Lifts

		g.	SS 551 - Code of Practice for Earthing

		h.	SS 553 – Code of Practice
                                                               for Mechanical Ventilation and Air Conditioning in buildings

		i.	SS 554 – Code of Practice
                                                               for Indoor Air Quality for Air Conditioned Building

		j.	SS555 - Code of Practice for Protection
                                                               Against Lightning

		k.	Public Utilities Act

		l.	The Building Control Act

		m.	Code of Practice on Environment
                                                               Health

		n.	Code of Practice for Fire Precautions
                                                               in Building, 2007

		o.	Code of Practice for Pollution
                                                               Control (2000 edition with amendments)

		p.	Code of Practice on Sewage and
                                                               Sanitary Works

		q.	COPIF - Code of Practice for Info-Communications
                                                               Facilities in Buildings

		r.	Code on Barrier-Free Accessibility
                                                               in Buildings 2002 Ver.1.0

		s.	Power Grid hand book

		t.	CP 5 - Code of Practice for Electrical
                                                               Installations

		u.	CP 10 - Code of Practice for the
                                                               Installation and Servicing of Electrical Fire Alarm Systems

		v.	CP 19 - Code of Practice for the
                                                               Installation and Maintenance of Emergency Lighting and Power Supply
                                                               Systems in Buildings

		w.	CP 29 - Code of Practice for Fire
                                                               Hydrant Systems and Hose Reels

		x.	CP 48 - Code of Practice for Water
                                                               Service Installation

		y.	CP 51 – Code of Practice
                                                               for Manufactured Gas Pipe Installation

		z.	CP 52 - Code of Practice for Automatic
                                                               Fire sprinkler installation

 

    	52

    	 

    

 

		2.5.3.	AIR CONDITIONING
                                                                   SYSTEM 

 

Chilled water system with 2
nos. of 1000RT duty chillers and 1 no. of 1000RT standby chillers located at the roof in the M&E Plant room. The condensing
water side of the chiller system will be directed to the cooling tower located at the roof.

 

The chillers will be controlled
by the BMS located at the FCC Room. It will control and monitor the various sensors to achieve the required setting and comfort
of the building.

 

The design for air-conditioning
to the whole building would be by Air Handling Units (AHU) and Fan Coil Units (FCU) with duct work to individual spaces.

For all Kulicke & Soffa
(K&S) areas, AHU would be provided with duct works including VAV terminal units.

 

The estimated total cooling
load at this stage is as follows:

 

	Area	 	Temperature

    (oC)	 	Relative

        Humidity

        (%)
	 	Occupancy

        (m2 per

        person)
	 	Cooling

        Load 

        Estimate

        (W/m2)
	 	Fresh
    Air
	Office	 	24±1	 	60±5	 	10	 	120	 	5.5 l/s per person
	Laboratory	 	24±1	 	60±5	 	10	 	200	 	5.5 l/s per person
	Production	 	23.5±1	 	55±5	 	10	 	320	 	5.5 l/s per person
	Warehouse	 	24±1	 	60±5	 	30	 	150	 	0.3 l/s per m2
	Lift Lobby	 	24±1	 	60±5	 	5	 	100	 	3.3 l/s per person
	Fire Command Centre / Security	 	24±1	 	60±5	 	10	 	120	 	5.5 l/s per person

 

		2.5.4.	MECHANICAL VENTILATION
                                                                   SYSTEM 

 

The MV system will be using
ventilation fans for various locations such as toilets, carpark, etc.

 

Smoke stop/fire-fighting lobby
– 4 ACH (normal) & 10 ACH (emergency), Carpark – 6 ACH (N=normal); 9 ACH (emergency).

Toilet – 20 ACH.

 

		2.5.5.	ENGINEERED SMOKE
                                                                   CONTROL SYSTEM

 

Engineering smoke control system
(where necessary) shall be provided.

 

		2.5.6.	FIRE PROTECTION
                                                                   SYSTEM 

 

The fire system consists of
sprinkler, fire alarm, hose reel & dry riser system.

    	53

    	 

    

 

The main fire alarm panel will
be located at the FCC Room at Level 1. It will monitor all sub-alarm panels at all floors. The Sprinkler tank & pump room
house 2 sprinkler pumps, 1 jockey pump and sprinkler tank.

 

The Fire Protection System is
designed in accordance to CP52.

 

		2.5.7.	WATER RETICULATION
                                                                   SYSTEM 

 

The PUB incoming will flow through
the bulk meter outside the building to serve 3 types of water services:

 

		a.	Domestic
                                                                                                                              water

		b.	Sprinkler
                                                                                                                              system

		c.	Private
                                                                                                                              Fire
                                                                                                                              hydrants

 

The domestic water will be directly
collected at the transfer water tank at level 1 and it will pump to the roof storage tank sized to one day usage. The domestic
booster pump will operate when pressure falls under the requirement setting and will serve general areas such as toilets. Newater
will be used for cooling tower and toilet flushing.

 

		2.5.8.	SANITARY AND
                                                                   PLUMBING SYSTEM

 

The system shall be fully vented
to serve all new toilets and vent pipe extending to the highest level of the building to release foul air and pressure build up
within the system.

 

	SCHEDULE OF FIXTURE
	Type	 	 	WC	 	 	 	WB	 	 	 	WB1	 	 	 	UR	 	 	 	HD	 	 	 	BT	 	 	 	SH	 
	1st Storey	 	 	9	 	 	 	10	 	 	 	1	 	 	 	5	 	 	 	5	 	 	 	2	 	 	 	0	 
	2nd Storey	 	 	2	 	 	 	2	 	 	 	0	 	 	 	1	 	 	 	2	 	 	 	2	 	 	 	2	 
	3rd Storey	 	 	18	 	 	 	20	 	 	 	1	 	 	 	11	 	 	 	5	 	 	 	4	 	 	 	0	 
	4th Storey	 	 	18	 	 	 	20	 	 	 	1	 	 	 	11	 	 	 	5	 	 	 	4	 	 	 	0	 
	5th Storey	 	 	19	 	 	 	21	 	 	 	1	 	 	 	11	 	 	 	6	 	 	 	5	 	 	 	0	 
	TOTAL	 	 	66	 	 	 	73	 	 	 	4	 	 	 	39	 	 	 	23	 	 	 	17	 	 	 	2	 

 

		2.5.9.	ELECTRICAL SYSTEM
                                                                   

 

The maximum demand is estimated
to be around 6000 kVA.

 

Electricity supply will be taken
at 22kV from PowerGrid via two feeders. PowerGrid Substation, HV Consumer Switch room, Transformer Room, LV switch room will be
located at 1st storey, next to each other for easy interconnecting cable.

 

We propose 3 nos. of 2000kVA
power transformers. The total essential load is estimated to be about 565 kVA, including the emergency supply to lifts, fire services,
carpark ventilation, emergency voice communication system, security system etc. including essential load to K&S. There will
be one 600kVA standby generator c/w weatherproof enclosure install at roof, fitted with a day tank for continuous operation of
6 hours.

 

    	54

    	 

    

 

Digital Power Meter and digital
Protection Relay will be provided at high voltage switchboard and the intake of Main switch board to capture the events locally
and high level interface with BAS system.

 

The load density as specified
shall be used in the calculation of the electrical loads:

 

Load Density

 

	Area	 	Lighting
    (watts/m2)	 	Power
    (watts/m2)
	Production Area	 	15 watts/m2 floor area	 	150 watts/m2 floor area
	Research Laboratory	 	12 watts/m2 floor area	 	100 watts/m2 floor area
	Warehouse	 	12 watts/m2 floor area	 	5 watts/m2 floor area
	Office	 	12 watts/m2 floor area	 	30 watts/m2 floor area

 

		2.5.10.	LIGHTING & POWER
                                                                           REQUIREMENT

 

Lighting Luminance Level Requirement:

 

	Location	 	Luminance Level (Lux)
	Production floors	 	750Lux
	Laboratory floors	 	500Lux
	Office floors	 	500Lux
	Warehouse floors	 	500Lux

 

Power Installation Requirement:

 

	Location	 	Requirement
	K&S Areas (Warehouse, production areas, Laboratory areas and offices)	 	13A switched socket outlets at every 100sqm for general purposes

 

		2.5.11.	SECURITY SYSTEM
                                                                           

 

The security system shall consist
of:

 

		-	CCTV
                                                                                                                               System

		-	Card
                                                                                                                               Access
                                                                                                                               System

		-	Intrusion
                                                                                                                               Detection
                                                                                                                               System

 

		2.5.12.	CCTV SYSTEM

 

The CCTV cameras will be provided
at the external area monitoring the EXIT doors at 1st storey, carpark, loading/unloading area and 1st storey
lift lobbies. The system provides a continuous surveillance to all specific areas. The monitors, matrix switches, digital recorder,
etc will be located at the FCC room for 24hrs monitoring.

 

    	55

    	 

    

 

		2.5.13.	CARD ACCESS SYSTEM

 

The card readers will be activated
using proximity card system. The server for programming/monitoring of card Access system will be located at FCC room. Card readers
are to be made compatible with existing system.

 

Intrusion Detection System

The door at all exit staircases
shall be installed with door contact to monitor the door status and to ensure the doors are closed at all time. Otherwise, alarm
signal will send to FCC room.

 

		2.5.14.	COMMUNICATION SYSTEM
                                                                           

 

The communication system shall
consist of for code compliance:

 

		-	One
                                                                                                                               Way
                                                                                                                               Emergency
                                                                                                                               Voice
                                                                                                                               Communication
                                                                                                                               System

 

		-	Fireman
                                                                                                                               Intercom
                                                                                                                               System

 

The telecom services will be
brought to the MDF room via lead-in pipes at 1st storey, with cable link to the telephone riser. Telephone risers are
provided at all storeys, and cable trays will be provided between the MDF room and the telephone risers, complying with COPIF.
400 pairs of intermediate distribution frame (IDF) will be installed at telephone risers at every tenanted floor.

 

		2.5.15.	VERTICAL TRANSPORTATION
                                                                           SYSTEM

 

The provision of Lifts shall
be as follows:

 

	Lift	 	Serving
	 	 	 
	2 nos. 1360kg passenger
    for 20 persons at 1.75m/s	 	1st to 5th
    storey
	2 nos. 1360kg Fireman
    Lift for 20 persons at
    1.75m/s	 	1st to 5th
    storey
	4
        nos. 5 tonnes Cargo Lift with a static load of 130% at 0.5 m/s.

        Lift
        Car size: 3.0m(W) x 3.0m(D) x 2.5m(H)
	 	1st
    to 5th storey (excluding 2nd storey carpark)

 

    	56

    	 

    

 

		3.	EXCLUSIONS

 

		·	All others except
                                                                                                              mentioned above.

 

		·	All loose furniture
                                                                                                              or build-in furniture.

 

		·	Office partition
                                                                                                              works (Tenant’s
                                                                                                              Fit-Out Works)

 

		·	Raised floor
                                                                                                              to office.

 

		·	Telephone systems
                                                                                                              (Cabling from Telecom
                                                                                                              Riser to tenant
                                                                                                              areas shall be provided
                                                                                                              by others)

 

		·	Television systems

 

		·	Structural cabling
                                                                                                              system

 

		·	Carpark guidance
                                                                                                              system

 

		·	Corporate logo
                                                                                                              signages

 

    	57

    	 

    

 

APPENDIX
3

 

CHANGE
REQUEST FORM

 

	Change
    Request No.:	 
	Requestor:	Date:

 

Description

 

	Title:
	Details of the
        Change:

         

         

	Reasons for
        the Change:

         

         

  

Impact

 

	(a)
        Costs:

         

        (b)
        Schedule and Deadlines:

         

 

 

Decision By Tenant

 

	Agree
    / Disagree:	 	 
	Name:	Signature:	Date:
	Copy
    to:	 	 

 

Decision By Landlord

 

	Agree
    / Disagree:	 	 
	Name:	Signature:	Date:
	Copy
    to:	 	 

 

    	58

    	 

    

 

APPENDIX
4

 

DETAILS

 

	Item	 	Description and

        Clause Reference
	 	Details
	 	 	 	 	 
	1.	 	Estimated Possession Notice Date	 	Date falling at the expiry of fourteen (14) months from the date the Landlord receives the
    Permit to Commence Work from the relevant Authorities.
	 	 	 	 	 
	 	 	(Clause 7.6)	 	 
	 	 	 	 	 
	2.	 	Defects Liability Period	 	Twelve (12) months from the date of service on the Tenant of the TOP.
	 	 	 	 	 
	 	 	(Clause 12.1)	 	 

 

    	59

    	 

    

 

APPENDIX
5

 

LEASE
AGREEMENT

 

    	60

    	 

    
 

 

*** Indicates a portion of the exhibit has been omitted based
on a request for confidential treatment submitted to the Securities and Exchange Commission. The omitted portions have been filed
separately with the Securities and Exchange Commission.

 

Execution Copy

 

DATED THIS [·]
DAY
OF [·] 2012

 

Between

 

DBS TRUSTEE LIMITED 

AS TRUSTEE OF MAPLETREE INDUSTRIAL TRUST

as the Landlord

 

And

 

KULICKE & SOFFA PTE. LTD.

as the Tenant

  

 

 

LEASE AGREEMENT

 

 

 

WONGPARTNERSHIP LLP

One George Street

#20-01

Singapore 049145

Tel: +65 6416 8000

Fax: +65 6532 5711/+65 6532 5722

Email: contactus@wongpartnership.com

Website: www.wongpartnership.com.sg

 

    	

    	 

    

  

TABLE OF CONTENTS

 

	CLAUSE	HEADING	PAGE
	 	 	 
	1.	INTERPRETATION	1
	 	 	 
	2.	DEMISE	6
	 	 	 
	3.	DEPOSIT	7
	 	 	 
	4.	FITTING OUT	9
	 	 	 
	5.	TENANT'S COVENANTS	9
	 	 	 
	6.	HOLDING OVER	25
	 	 	 
	7.	INDEMNIFICATION AGAINST ALL OTHER LOSSES AND DAMAGES	25
	 	 	 
	8.	LANDLORD'S COVENANTS	25
	 	 	 
	9.	GENERAL PROVISIONS	28
	 	 	 
	THE FIRST SCHEDULE	48
	 	 
	THE SECOND SCHEDULE	49
	 	 
	THE THIRD SCHEDULE	51
	 	 
	THE FOURTH SCHEDULE	53
	 	 
	THE FIFTH SCHEDULE	58
	 	 
	THE SIXTH SCHEDULE	59
	 	 
	APPENDIX 1	FORM OF BANK GUARANTEE (FOR THE SECURITY DEPOSIT AMOUNT)	63
	 	 	 
	APPENDIX 2	KEY PARAMETERS	65
	 	 	 
	APPENDIX 3	PROHIBITED PARTIES	66
	 	 	 
	APPENDIX 4	DESIGNATED LOADING DOCKS	70
	 	 	 
	APPENDIX 5	LICENSED AREA	71
	 	 	 
	APPENDIX 6	[CARGO LIFT]	72
	 	 	 
	APPENDIX 7	[THE PREMISES]	73
	 	 	 
	APPENDIX 8	[PLANS SHOWING RESERVED PREMISES 1 AND RESERVED PREMISES 2]	76

  

    	 

    	 

    

 

THIS LEASE AGREEMENT is made
on [●]

 

BETWEEN:

 

		(1)	DBS TRUSTEE LIMITED (Registration No. [●]) a company incorporated in Singapore
with its registered office at [●] as trustee of Mapletree Industrial Trust (the "Landlord"); and

 

		(2)	KULICKE & SOFFA PTE. LTD. (Registration No. [●]) a company incorporated
in Singapore with its registered office at [●] (the "Tenant").

 

(hereinafter individually referred
to as the "Party" and collectively referred to as the "Parties")

 

NOW IT IS HEREBY AGREED as
follows:

 

		1.	INTERPRETATION

 

		1.1	Definitions

 

In
the terms of this Agreement and in any rules and regulations made hereunder or annexed hereto unless the contrary intention appears:

 

"the
Agreed Sum" shall
have the meaning ascribed to it in the Clause 9.21(a);

 

"A.H.U"
shall have the meaning ascribed to it in Paragraph 3(f) of the Second Schedule;

 

"Adjusted
Security Deposit Amount" shall have the meaning ascribed
to it in Clause 9.17(a)(vi);

 

"Agreement"
or "Lease" means this Lease Agreement (including
the Appendices), and such other letters and documents as the Parties may expressly identify in writing and agree as forming part
of this Agreement or Lease';

 

"Agreement
to Develop and Lease" means the Agreement to Develop and
Lease dated [·]
whereby the Landlord agreed to undertake the development of the Building on the Land on the terms thereof; 

 

"Allocated
Car Park Lots" has the meaning ascribed to it in Clause
9.13(a)(i);

 

"Appendices"
means the appendices to this Agreement;

 

"Appointed
Valuer" has the meaning ascribed to it in Paragraph 3(a)
of the Sixth Schedule;

 

"Appointed
Valuer's Rent Review Date" has
the meaning ascribed to it in Paragraph 3(a) of the Sixth Schedule;

 

"Approvals"
means any and/or all relevant permissions, consents, approvals, licences, certificates and permits issued by any of the Authorities;

 

"Approved
Valuer" has the meaning ascribed to it in Paragraph 3(c)
of the Sixth Schedule;

 

"Approved
Valuer's Rent Review Date" has
the meaning ascribed to it in Paragraph 3(c) of the Sixth Schedule;

 

    	1

    	 

    

 

"Authorities"
means all governmental, quasi-governmental, statutory and regulatory authorities having jurisdiction
over the Premises and/or the Tenant and/or the Landlord in connection with the Premises, including any public authority or public
service company whose systems are connected with the Premises;

 

"Balance
Premises" shall have the meaning ascribed to it in Clause
9.17(b);

 

"Bank
Guarantee" shall have the meaning ascribed to it in Clause
3.4, the form of which is attached in Appendix 1;

 

"Building"
means the building erected on the Land and within which the Premises are situated, and the expression "the Building"
includes any part thereof;

 

"Business
Day" means a day (other than a Saturday, Sunday or a gazetted
public holiday in Singapore) on which commercial banks are open for business in Singapore;

 

"Common
Area" means all those parts of the Land which would usually
have formed part of the common property under the Land Titles (Strata) Act (Chapter 158 of Singapore) had the Building been strata
subdivided;

 

"Common
Facilities" means the mechanical and electrical services
and other services, amenities and facilities on the Land from time to time serving the Building or for common use or benefit;

 

"Certified
Net Lettable Floor Area" means the net lettable area of
the Premises as determined by a registered surveyor and certified by such registered surveyor in a certificate, pursuant to Clause
15.2 of the Agreement to Develop and Lease;

 

"Conducting
Media" means drains, sewers, conduits, flues, gutters, gullies,
channels, ducts, shafts, watercourses, pipes, cables, wires and mains or any of them;

 

"Contracted NLA" means [198,134]
square feet;

  

"CSC"
means the certificate of statutory completion for the Building issued by the Building and Construction Authority under the Building
Control Act (Chapter 29 of Singapore);

 

"Designated
Loading Docks" means the seven loading docks delineated
in red in the plan attached hereto and marked Appendix 4 for the purpose of identification;

 

"Designated
Suppliers" shall have the meaning ascribed to it in Clause
5.5(a);

 

"Deposit"
means the sum stated in Item 5 of the Third Schedule and includes any increases thereto;

 

"First
Option Term" has the meaning ascribed to it in Clause 9.14
and refers to the period specified in Item 7A of the Third Schedule and commencing from
the expiration of the Term;

 

"Fitting-Out
Consents" has the meaning ascribed to it in Paragraph 2.1
of the Fourth Schedule;

 

"Fitting-Out
Manual" means the booklet as revised, amended or supplemented
from time to time, supplied by the Landlord, containing guidelines applicable to the Fitting-Out Works;

 

["Fitting-Out
Period" means such period granted by the Landlord for the
Tenant to carry out Fitting_Out Works;

 

    	2

    	 

    

 

"Fitting-Out
Works" means all renovation and fitting out works to be
carried out at or to the Premises or to any additional premises, where approvals for these works are granted after the Lease Commencement
Date, by the Tenant in connection with the use and enjoyment of the Premises or such additional premises (if any) for the Permitted
Use as set out in this Agreement, including but not limited to all the fitting out works to be carried out by the Tenant as specified
in the Fitting-Out Manual;]

 

"Gross
Rent" means the
Rent and the Service Charge;

 

"Head
Lease" means the Lease dated [·]
registered as Lease No. [·]
with the Singapore Land Authority and made between the Head Lessor as lessor and the Landlord as lessee;

 

"Head
Lessor" means JTC, and includes its assigns and successors-in-title;

 

"Initial
Premises" shall have the meaning ascribed to it in Clause
9.14.

 

"Interested
Parties" shall have the meaning ascribed to it in Clause
9.31(f);

 

"JTC"
means Jurong Town Corporation, a body corporate incorporated under the Jurong Town Corporation Act and having its head office at
The JTC Summit, 8 Jurong Town Hall Road, Singapore 609434;

 

"JTC Lease Documents"
means collectively, (i) the JTC Letter (ii) the Schedule of Building Terms and the form of lease (attached to the Schedule
of Building Terms), both referred to in the JTC Letter; and (iii) all other appendices and schedules referred to in (i) and (ii);

 

"JTC
Letter" means the letter of offer issued by JTC to the Landlord in respect of the lease of the Land to the Landlord;

 

"Key
Parameters" means the specifications in respect of the Building
set out in Appendix 2;

 

"Land"
means all that piece of land comprised in Lot 17622A Pt Mukim 18 at Serangoon North Avenue 5 (which expression includes any part
thereof);

 

"Landlord"
means DBS Trustee Limited as trustee of Mapletree Industrial Trust;

 

"Landlord's
Consultants" means the Landlord's Architects, Structural
Engineers, Mechanical and Electrical Engineers, Acoustic Consultants, Landscape Consultant, and/or any other persons and/or firms
engaged by the Landlord in respect of the Building or anyone or more of them;

 

"Landlord’s
Offer" shall have
the meaning ascribed to it in Clause 9.18(a)(ii);

 

"Lease
Commencement Date" means [·];

 

"Licence"
shall have the meaning ascribed to it in Clause 8.8(a);

 

"Licensed
Area" shall have the meaning ascribed to it in Clause 8.8(a);

 

"Mapletree Industrial
Trust" means Mapletree Industrial Trust established in Singapore as a collective investment scheme and constituted
by the MIT Trust Deed;

 

    	3

    	 

    

 

"MIT Trust Deed"
means the trust deed dated 29 January 2008 entered into between Mapletree Industrial Fund Management Pte. Ltd. and Mapletree Trustee
Pte. Ltd., as amended by (i) a supplemental deed of change of name of the trust deed dated 8 April 2008, (ii) a second supplemental
deed dated 17 June 2008, (iii) an amending and restating deed dated 20 May 2009, (iv) a supplemental deed of appointment and retirement
of manager dated 27 September 2010, (v) a supplemental deed of appointment and retirement of trustee dated 27 September 2010 and
(vi) a second amending and restating deed dated 27 September 2010;

 

"NLA"
means the aggregate net lettable floor area of the Premises measured to include the edge of the slab which forms the external boundary
of the space being measured and half the thickness of the internal walls/partitions/glass as well as the areas occupied by all
pillars, columns, mullions, internal partitions and projections within the space being measured;

 

"Offer
to Purchase" shall
have the meaning ascribed to it in Clause 9.15;

 

"Option
to Renew" shall have the meaning ascribed to it in Clause
9.14;

 

"Option
to Terminate" shall
have the meaning ascribed to it in Clause 9.16;

 

"Option
Term" shall have the meaning ascribed to it in Clause 9.14;

 

"Original
Condition" means the state and condition of the Premises
including the Landlord's installations therein (as the case may be) as at the date the Tenant took possession of the Premises and
includes the concrete raised floor, ceiling boards, standard lighting and sprinklers originally provided by the Landlord;

 

"Other
Premises" shall
mean premises in the Building other than the Premises;

 

"Partial
Surrender Rights" shall
have the meaning ascribed to it in Clause 9.17;

 

"Parties'
Rent Review Date" shall
have the meaning ascribed to it in Paragraph 2 of the Sixth Schedule;

 

"Payment
Date" shall have the meaning ascribed to it in Clause 2.2;

 

"Permitted
Use" shall have the meaning ascribed to it in Clause 5.14;

 

"person"
shall be deemed to include a corporation;

 

"Possession
Notice" shall have the meaning ascribed to it in Clause
7.6 of the Agreement to Develop and Lease;

 

"Premises"
means premises hereby leased as more particularly described in the First Schedule hereto
and includes any part thereof save and except the external walls thereof which shall remain vested in the Landlord;

 

"Prevailing
Market Rent" shall have the meaning ascribed to it in Paragraph
4 of the Sixth Schedule;

 

"Prohibited
Parties" means the
parties as set out, or whose activities/operations are described, in Appendix 3,
as may be refreshed from time to time in accordance with the provisions of Appendix 3;

 

"Property"
means the whole of the Land including the Building erected thereon ;

"Rent"
means the monthly rent specified in Item 3 of the Third Schedule and includes any increases
thereto;

 

    	4

    	 

    

 

"Rent
Commencement Month" shall have the meaning ascribed to it
in Clause 2.2;

 

"Rent
Free Period" means the rent free period specified in Item
8 of the Third Schedule;

 

"Replacement
Amount" shall have the meaning ascribed to it in Clause
3.1;

 

"Reserved
Premises 1" shall have the meaning ascribed to it in Clause
9.18A(a)(i);

 

"Reserved
Premises 2" shall have the meaning ascribed to it in Clause
9.18A(a)(ii);

 

"Reserved
Premises" shall have the meaning ascribed to it in Clause
9.18A(a)(iii);

 

"Reserved
Premises Option" shall have the meaning ascribed to it in
Clause 9.18A(b);

 

"Reserved
Premises Option Fee" shall have the meaning ascribed to
it in Clause 9.18A(b);

 

"restoration
works" shall have the meaning ascribed to it in Clause 5.35(b);

 

"Right
of First Refusal" shall have the meaning ascribed to it
in Clause 9.18;

 

"RFR
Premises" shall have the meaning ascribed to it in Clause
9.18(a)(i);

 

"Second
Option Term" has the meaning ascribed to it in Clause 9.14
and refers to the period specified in Item 7B of the Third Schedule and commencing from
the expiration of the First Option Term;

 

"Service
Charge" means the sum specified in Item 4
of the Third Schedule and includes any increases thereto;

 

"Sub-Tenant(s)"
shall have the meaning ascribed to it in Clause 5.33(c);

 

"Surrender
Premises" has the meaning ascribed to it in Clause 9.17(b);

 

"Taxes"
shall have the meaning ascribed to it in Clause 9.21(a);

 

"the
Tenant" shall include its successors-in-title and permitted
assigns and where the context so permits, the expression "the Tenant" shall include the Tenant's Occupiers;

 

"Tenant’s
Notice" shall have the meaning ascribed to it in Clause
9.18(a)(iii);

 

"Tenant's
Occupiers" means the Tenant's employees, servants, agents,
independent contractors, licensees, sub-tenants (if consented to by the Landlord), invitees, customers and any person claiming
rights to use, enjoy, visit or be at the Premises expressly or by implication with the Tenant's consent or authority;

 

"Term"
means the period specified in Item 6 of the Third Schedule;

 

"Utilities
Provider" means such utilities provider(s) as may from time
to time be appointed by the Tenant (if the Premises are separately metered) or the Landlord (if the Premises are not separately
metered) as the case may be, to undertake the supply of water, gas, electricity and/or other utilities to the Premises; 

 

"Year"
means each period of twelve (12) calendar months (during the Term) commencing from the Lease
Commencement Date and immediately thereafter in succession (during and throughout the Term), each consecutive 12-month period
following the First Year; and

 

    	5

    	 

    

 

"S$"
or "Singapore Dollars" means the lawful currency of
Singapore.

 

Words
importing the singular number shall be deemed to include the plural or singular number respectively and words importing the masculine
gender only shall include the feminine or neuter and vice versa and words importing persons shall include corporations.

 

		1.2	Headings

 

Headings
of Clauses, paragraphs and schedules have been inserted for ease of reference only and shall not be deemed to form any part of
the context nor to be taken into account in the construction or interpretation of any provision herein. References to "Clauses"
and "Schedules" are to be construed as references to Clauses of and schedules to this Agreement.

 

		1.3	Schedules and Appendices

 

The
Schedules and Appendices to this Agreement shall be taken, read and construed as parts of this Agreement and the provisions thereof
shall have the same force and effect as if expressly set out in this Agreement.

 

		1.4	Statutes

 

References
in this Lease to any statutes or statutory instruments shall include and refer to any statutes or statutory instrument amending,
consolidating or replacing them respectively from time to time and for the time being in force.

 

		1.5	Joint and Several Obligations

 

Where
two or more persons are included in the expression "the Tenant"
all covenants, agreements, terms, conditions and restrictions shall be binding on them jointly and each of them severally and shall
also be binding on their personal representatives and permitted assigns respectively jointly and severally.

 

		1.6	Tenant's Occupiers

 

In
any case where the Tenant is placed under a restriction by reason of the covenants and conditions contained in this Agreement,
the restriction shall be deemed to include the obligation on the Tenant not to permit or allow the infringement of the restriction
by any of the Tenant's Occupiers.

 

		1.7	References to Landlord

 

The
expression "the Landlord" includes its successors-in-title
and assigns.

 

		2.	DEMISE

 

		2.1	Demise

 

The Landlord
hereby lets and the Tenant hereby takes the Premises together with all the fixtures and fittings therein installed and now belonging
to the Landlord and together also with the right for the Tenant and others duly authorised by the Tenant in common with the Landlord
and all others so authorised by the Landlord and all others so entitled thereto at all times during the Term for all purposes connected
with the use of the Premises but not for any other purposes:

 

    	6

    	 

    

 

		(a)	of ingress to and egress from the Premises in over and along the usual entrances, the lobbies,
staircases, landings and passage-ways leading to and from the Premises;

 

		(b)	to use the lifts provided in the Building during the hours stipulated in Item 12 of the Third Schedule;

 

		(c)	to use such lavatory and toilet facilities within the Building as shall be designated from time
to time by the Landlord; and

 

		(d)	to enjoy the benefit of the air-conditioning system (where installed) in the Building during the
hours stipulated in Item 13 of the Third Schedule,

 

EXCEPTING
AND RESERVING unto the Landlord and all persons authorised by the Landlord the rights specified in the Second Schedule hereto,
for the Term yielding and paying monthly in advance therefor without any reduction, counterclaim or set-off the Rent and Service
Charge.

 

		2.2	Payment of Rent

 

The Rent and
Service Charge shall be paid by the Tenant monthly in advance, without demand, by GIRO on the first day of each month of the Term
after the Rent Commencement Month (each such due date for payment shall hereinafter be called a "Payment Date").

 

The Tenant
shall commence payment to the Landlord of the Rent and Service Charge (or, if applicable, the pro-rated Rent and the pro-rated
Service Charge) upon the expiry of three (3) months from the Lease Commencement Date for the period from and including the day
falling immediately after such expiry up to and including the last day of the month in which the Rent and Service Charge commenced
to be payable (the "Rent Commencement Month").

 

The
Tenant shall pay to the Landlord each subsequent monthly payment of the Rent after the Rent Commencement Month by GIRO by equal
monthly payments in advance on each Payment Date, the first of such payments to be made on the first Payment Date immediately falling
after the Rent Commencement Month.

 

		3.	DEPOSIT

 

		3.1	Deposit

 

The
Tenant shall within seven (7) days after the issuance of the Possession Notice deposit with the Landlord the sum set out in Item
5 of the Third Schedule. The Deposit shall be held by the Landlord as security for the
due performance and observance by the Tenant of all and singular the several stipulations covenants and conditions on the part
of the Tenant herein contained and if the Tenant shall fail to perform and observe the said stipulations covenants and conditions
and has not commenced the remedy of such breach within fourteen (14) days after receipt
of the Landlord’s written notice in that effect (or such shorter period as may be reasonably determined by the Landlord having
regard to the extent and nature of the breach), the Landlord shall be entitled (but not obliged) to apply the Deposit or any part
thereof towards payment of moneys outstanding or making good any breach by the Tenant or to deduct from the Deposit the loss or
expense to the Landlord occasioned by such breach but without prejudice to any other right or remedy which the Landlord may be
entitled to. If any part of the Deposit shall be applied or deducted as aforesaid, the Tenant shall within fourteen (14) days of
demand by the Landlord furnish to the Landlord in cash or by way of a fresh bank guarantee an amount equivalent to the sum so applied
and/or deducted from the Deposit ("Replacement Amount")
Provided Always that the Tenant is to deposit with the Landlord the Replacement Amount in cash if no bank guarantee is issued for
the Replacement Amount in fourteen (14) days. The Landlord shall within thirty (30) days after the Premises have been yielded up
to the Landlord in accordance with the provisions of this Lease (or if the restoration works have not been completed in accordance
with the provisions of this Agreement, completion of the restoration works) repay the Deposit to the Tenant without interest and
subject to any proper deductions made pursuant to this Agreement. No part of the Deposit shall, without the written consent of
the Landlord, be set-off by the Tenant against any Rent, Service Charge or other sums owing to the Landlord.

 

    	7

    	 

    

 

		3.2	Increase in Deposit

 

The
Deposit shall throughout the Term be maintained at the level stated in Item 5 of the Third
Schedule. If the Rent or Service Charge has been increased in accordance with the provisions of this Agreement then the Deposit
shall be increased proportionately and the Tenant shall within fourteen (14) days of demand furnish to the Landlord in cash or
by way of a fresh bank guarantee an amount equivalent to the increment in the Deposit. 

 

		3.3	Forfeiture of Deposit

 

Notwithstanding
Clause 3.1, the whole of the Deposit may in the Landlord's sole discretion be forfeited to the Landlord if the Tenant goes into
liquidation or if a person, is made a bankrupt, or have any order made or resolution passed for its winding-up or shall otherwise
become insolvent or make an assignment or arrangement for the benefit of its creditors.

 

For
the avoidance of doubt, it is hereby agreed and declared that the Deposit does not constitute a penalty or liquidated damages and
that any forfeiture of the Deposit by the Landlord shall be without prejudice to any other rights or remedies that the Landlord
may be entitled to.

 

		3.4	In lieu of a cash security deposit, the Tenant may furnish to the Landlord the Deposit by way of
bank guarantee(s) (each, a "Bank guarantee"), in which case the following conditions shall apply:

 

		(a)	the Bank Guarantee shall be irrevocable and unconditional, issued by a commercial bank holding
a full banking licence with the Monetary Authority of Singapore acceptable to the Landlord, acting reasonably;

 

		(b)	the Bank Guarantee shall be an "on-demand" bank guarantee in the form in Appendix 1,
with such modifications as may be agreed between the Parties; and

 

		(c)	the date of expiry of the Bank Guarantee
for the Deposit shall be on the date of expiry of the relevant Year for which such Bank Guarantee is furnished to the Landlord,
save that in respect of a Bank Guarantee issued for the last Year of the Term, the Bank Guarantee shall have a claim period of
three (3) months (or such shorter period as the Landlord may agree in writing from time to time in its sole discretion) after the
date of expiry of the last Year.

 

		3.5	Any Bank Guarantee furnished by the Tenant to the Landlord
for any Replacement Amount required under Clause 3.1 shall also comply with the provisions of Clause 3.4.

 

		3.6	The Tenant shall, no later than sixty (60) days (or such
shorter period as the Landlord may agree in writing from time to time in its sole discretion) prior to the commencement date of
each Year, provide to the Landlord a currently dated fresh Bank Guarantee for the Deposit for each such Year with effective date
commencing on the first day of such Year.

 

    	8

    	 

    

 

		3.7	Where the Deposit and/or any Replacement Amount has been
furnished by the Tenant by way of bank guarantee(s), the Landlord must return to the Tenant such Bank Guarantees within thirty
(30) days after the date of expiry of the claim period under the relevant Bank Guarantees for cancellation.

 

		4.	FITTING OUT

 

If the Tenant has been granted
approvals before the Lease Commencement Date to carry out Fitting-Out Works on the Premises under the Agreement to Develop and
Lease, the provisions thereof shall apply to the exclusion of the Fourth Schedule. Where the Landlord’s approvals for further
Fitting-Out Works or for such works in respect of any additional premises are granted after the Lease Commencement Date, the provisions
of the Fourth Schedule shall solely govern the carrying out and completion of such works.

 

		5.	TENANT'S COVENANTS

 

The
Tenant hereby covenants with the Landlord as follows:

 

		5.1	Rent and Service Charge

 

To
pay the Rent and Service Charge to the Landlord monthly in advance at the times and in the manner specified in Clause 2.2 without
any set-off counterclaim or deduction whatsoever.

 

		5.2	Increase in Service Charge

 

To
pay any increase in Service Charge at a yearly service charge escalation of two per cent (2%) per annum on the preceding year’s
Service Charge. In the event that the Tenant requires any air-conditioning services to the Premises to be extended beyond the hours
specified in Item 13 of the Third Schedule, the Tenant shall give prior notice to the Landlord of such extension and shall pay
all costs and expenses relating to the extension of the services and the Landlord shall extend the air-conditioning services accordingly
save in the event of repairs or maintenance works which are required to be carried out to the air-conditioning system
and/or any ancillary works which are required to be carried out which will affect the proper operation of the air-conditioning
system, or any other reasons beyond the Landlord’s control in which case, the Landlord shall inform the Tenant accordingly.
Any extension of the said services shall be subject to the Tenant not being in arrears of any rent or other sums payable under
this Agreement for a period exceeding fourteen (14) days.

 

		5.3	Property Tax

 

To
pay on demand any increase in the property tax (whether retrospective or otherwise) over and above the amount of property tax for
the Premises payable by the Landlord on the commencement of the Term due to an increase in the rate of property tax payable. The
Landlord may in its sole discretion lodge any objections with the Property Tax Department or any other relevant authority against
the increase in property tax, or without imposing any obligation on the Landlord so to do, assist the Tenant at the Tenant's sole
costs and expense in their lodgement of any such objections. In the event of the Premises not being separately assessed but the
Building being assessed as a whole then, for the purpose of ascertaining the additional or other amount payable by the Tenant under
this clause any increase in property tax shall be apportioned by the Landlord and the Tenant shall pay on demand such proportion
thereof as determined by the Landlord based on the proportion that the area of the Premises bears to the net lettable floor area
of the Building.

 

    	9

    	 

    

 

		5.4	Utilities and Telecommunication charges

 

		(a)	Subject always to Clause 5.5 hereinbelow, to pay directly to the Utilities Provider all charges
and costs including any taxes now or in the future imposed in respect of water, gas, electricity, sewerage and any other utilities/services
supplied to the Premises and the Tenant shall at its own expense apply to the Utilities Provider for the installation and testing
of an electricity meter at the Premises. Where the utilities enjoyed by the Premises are not separately metered, to reimburse the
Landlord for a proportionate part of such costs, such costs to be calculated by the Landlord and notified to the Tenant in writing,
such statement to be final and conclusive as to the amount thereof, save for manifest error. In the event of the Utilities Provider
increasing the charges therefor, the Tenant shall pay to them or reimburse the Landlord (as the case may be) for the additional
costs, such costs to be calculated by the Landlord and notified to the Tenant by a statement in writing from the Landlord, such
statement to be final and conclusive as to the amount thereof save for manifest error; and

 

		(b)	To pay all charges in respect of any telephone, telex, teleprinters, facsimile, internet, satellite,
broadcasting and/or other services connected to the Premises and all other charges or impositions (including but not limited to
connection charges and installation fees) imposed by any statutory authority or service provider (such service provider to be a
service provider approved by the authorities) for the services separately supplied to the Premises.

 

		5.5	Utilities Suppliers

 

		(a)	The Tenant shall use only utilities from such suppliers as are designated by the Landlord ("Designated
Suppliers") and shall arrange at its own costs with the relevant authorities or Designated Suppliers for the connection
of all such utilities supply required by the Tenant and for the installation of any meters or equipment in connection with such
supply in accordance with the Landlord's requirements and any rules and regulations set from time to time by the Landlord regarding
such connections and installations.

 

		(b)	In particular, where the Landlord at its discretion and
acting in good faith, deems it beneficial for the Building and its occupants to purchase any utilities in bulk from any
Designated Suppliers for supply to the entire Building including the Premises (either by having the Landlord purchase such utilities
in bulk for the entire Building or by requiring all tenants in the Building to purchase such utilities from the same Designated
Suppliers), the Tenant shall not object to the Landlord's choice of Designated Suppliers for such utilities nor object to the Landlord's
request to change Designated Suppliers for the utilities and shall:

 

		(i)	upon the Landlord's notification, accept the Landlord's choice of Designated Supplier for such
utilities and, if required by the Landlord, join the Landlord in its application to the relevant authorities and/or to the Designated
Supplier for such purchase;

 

		(ii)	enter into an utilities supply agreement with the Landlord or such other party or parties as the
Landlord may determine on terms prescribed by the Landlord; and

 

		(iii)	at the Landlord's request, take the necessary steps to cease supply from the Tenant's current retail
utilities supplier at the Tenant's costs.

 

    	10

    	 

    

 

		(c)	In connection with Clause 5.5(b), the Tenant shall sign, where the Landlord
acting in good faith deems necessary, in the Tenant's name all necessary documents, applications or forms and make all necessary
arrangements for purposes of any connection of bulk supply of utilities to the Premises or in respect of any necessary termination
of the Tenant's previous utilities account with another supplier. Costs of all connections or termination of supply and any necessary
installation of new or separate meters required by the Landlord, the Designated Suppliers or the Authorities as a result of the
Landlord's request for change in Designated Suppliers hereunder shall be borne by the Tenant.

 

		(d)	The Tenant hereby agrees that where the Landlord,
acting in good faith, purchases any utilities in bulk for supply to the Building including the Premises in accordance with
Clause 5.5(b), then:

 

		(i)	the Tenant acknowledges agrees and confirms that the Designated Suppliers are the suppliers of
the utilities and unless arising from or in connection with the wilful default or gross negligence of the Landlord, its employees,
agents independent contractors or licencees, the Landlord shall not be responsible and/or liable for any and all losses damages
and/or liability suffered or incurred by the Tenant including any economic loss and/or loss of revenue and/or profits and/or business
or custom howsoever occurring caused by or as a result of any defect inconsistency failure delay or interruption or any reduction
surge or variation of the supply and transmission wherever or whenever occurring;

 

		(ii)	where any agreement for bulk purchase of utilities made between the Landlord and the Designated
Suppliers for supply to the entire Building (including the Premises) is terminated for reasons beyond the reasonable control of
the Landlord and not due to the wilful default or gross negligence of the Landlord, its employees, agents independent contractors
or licencees, the Landlord shall not be required to compensate the Tenant for any loss or damage including any economic loss and/or
loss of revenue and/or profits and/or business or custom howsoever occurring to the Tenant as a result of such termination of supply
to the Premises;

 

		(iii)	The Tenant shall pay to the Landlord such quantum of deposit as security for payment of utilities
charges equal to two (2) times the amount of monthly charges as estimated by the Landlord acting in good faith; and

 

		(iv)	The Landlord shall be entitled to terminate utilities supply to the Premises if the Tenant shall
fail to pay any part of the charges and taxes in respect of the supply thereof payable by the Tenant hereunder for more than thirty
(30) days after due date of such payments or fails to pay Rent or any other monies due hereunder for more than fourteen (14) days
after the due date of such payments.

 

		5.6	Circuit breaker

 

To
install and maintain in good working condition at the Tenant's expense the circuit breaker(s) to the Tenant's electricity supply
which are installed in the Premises and if the Tenant shall fail for whatever reason to install or maintain the same, then the
Landlord may do so and the costs of installation and/or maintenance shall be a debt due from the Tenant to the Landlord and be
recoverable forthwith as such. For the avoidance of doubt, the Tenant shall not be liable to maintain any other circuit breakers
which are not installed in the Premises, notwithstanding that the same may be installed in relation to the electricity supply to
the Premises.

 

    	11

    	 

    

 

		5.7	Telephones, etc.

 

To
install at its own cost and expense all telephones, teleprinters, facsimile machines and computer modems and to run the wires thereof
in such a manner that shall have been previously approved by the Landlord, which approval shall not be unreasonably withheld and
to ensure that all installation works shall be carried out by the appropriate authority, or in the absence of such workmen, by
a contractor approved by the Landlord, which approval shall not be unreasonably withheld Provided Always that the Tenant shall
not install or cause to be installed any pay-telephone except with the prior written approval of the Landlord.

 

		5.8	Landlord's right of access

 

To
permit the Landlord and its duly authorised agents with or without workmen and others at all reasonable times and by prior appointment
(except in case of an emergency or suspected material breach of this Agreement) to enter upon the Premises:

 

		(a)	to view the condition thereof; and/or

 

		(b)	to do such works and things as may
be required for any rectifications repairs alterations or improvements to the Premises or any part or parts of the Building. In
carrying out such works and things, the Landlord shall use reasonable efforts to minimise the interference to the Tenant’s
use and enjoyment of the Premises; and/or

 

		(c)	to rectify repair amend and make
good in a proper and workmanlike manner any defects for which the Tenant is liable and of which written notice shall be served
on the Tenant at the Premises and the Tenant does not, within fourteen (14) days after the service of such notice, proceed diligently
with the execution of such repairs or works. 

 

The Tenant shall pay the Landlord's
costs of survey or otherwise in respect of the preparation of such notice and the cost of rectifications repairs or works carried
out by the Landlord pursuant to Clause 5.8(c) and such sums shall be a debt due from the Tenant to the Landlord and be recoverable
forthwith as if it were arrears in rent.

 

		5.9	Emergency

 

To
permit the Landlord free and immediate access into the Premises at all times in all cases of emergency.

 

		5.10	Interior

 

To
keep the interior of the Premises including the flooring and interior plaster or other surface material or rendering on the walls
and ceilings and the Landlord's fixtures therein including doors, windows, wires, installations and fittings in good and tenantable
repair and condition (save for fair wear and tear and damage by fire other than that caused
by the Tenant) and to give immediate notice to the Landlord of any damage that may occur to the Premises and of any accident to
or defects in the water pipes, air-conditioning ducts, telephone conduits, electrical wiring or fixtures or other facilities whatsoever
provided by the Landlord.

 

		5.11	Fixtures and fittings

 

To
keep (where applicable) all taps, washbasins, water closets, sinks, cisterns, pipes, wires, conduits, fittings, equipment, facility
and apparatus within or serving the Premises clean and in good order and repair and in respect of such fixtures and fittings to
make good all damage occasioned to the Premises or to any other part of the Building through improper use or by the negligence
of the Tenant or of any person for the time being in or using the Premises, save that in respect of such fixtures and fittings
within the Premises, to make good all damage occasioned to the Premises, whether or not such damage was caused through the improper
use or by the negligence of the Tenant or of any person for the time being in or using the Premises. 

 

    	12

    	 

    

 

		5.11A	The Tenant shall ensure that the
air-conditioning system does not create condensation to the floor, wall and ceiling of the neighbouring units.

 

		5.12	Drains

 

To
clean, clear and remove any debris from any drains (where applicable) in the Premises or in the Building where such build up of
debris has been contributed by the Tenant and in the event that the Tenant fails to do so after being notified by the Landlord,
the Landlord may (but without being under any obligation so to do) remove any debris, clear and/or clean the drains and the Tenant
shall on demand reimburse to the Landlord all costs, expenses and disbursements incurred thereby. 

 

		5.13	Pests and animals

 

To
take all reasonable precautions to keep the Premises free of rodents, vermin, insects, pest, birds, pets and any other animals
and if so required by the Landlord at the cost of the Tenant to employ from time to time or periodically pest exterminators approved
by the Landlord.

 

		5.14	Permitted Use

 

Until
and unless the necessary approvals, consents, licenses and permits have been obtained, the Tenant shall not use the Premises or
any part thereof for any purpose other than the use as specified in Item 9 of the Third
Schedule (the "Permitted Use"). The Tenant
shall be responsible for obtaining, prior to the commencement of the Term, and keeping in force during the Tenant's occupation
of the Premises all governmental approvals licences and permits necessary for the conduct of the business at the Premises and for
ensuring the terms and conditions of such approvals licences and permits are strictly adhered to and shall indemnify the Landlord
against any consequences or proceedings arising from the Tenant's default in complying with the provisions of this Clause.

 

		5.15	Prohibited activities

 

Not
to:

 

		(a)	reside in or permit any person to reside in any part of the Premises or use the same or permit
the same to be used as a dwelling house;

 

		(b)	conduct or permit to be conducted on the Premises any auction sale or religious activity and not
to erect or display or permit to be erected or displayed any altar or religious artefact in or about the Premises;

 

		(c)	use any electrical, heating, cooking, data, communication or other devices which may interfere
with the air-conditioning system, lift, lighting, power, electrical, data or communication system in the Premises or in any part
of the Building;

 

		(d)	install any vending machine on the Premises without the prior written consent of the Landlord;

   

    	13

    	 

    

 

		(e)	cook or permit anyone to cook any food in the Premises or in the Building provided that this Clause
5.15 shall not be construed to prevent or restrict any person from warming up food in an area within the Premises designated for
use as a pantry;

  

		(f)	permit without the prior written consent of the Landlord the vendors of food or drink or the servants
or agents of such vendors to bring on to the Premises or any part thereof or on to the Building or any part thereof food or drink
for consumption by the occupiers of the Premises save and except in the case of the contractor given the right by the Landlord
to provide a food and drink service for the occupiers of the Building;

 

		5.15A	If Premises are used as a factory

 

Where
the Building or Premises is a factory, not to:

 

		(a)	use the Premises for industries with liquid waste requiring pretreatment before discharge or industries
requiring the use of naked light or involving hotwork;

 

		(b)	utilise the Premises before obtaining clearance on the use of the Premises from the Pollution Control
Department, Ministry of Environment and other relevant Authorities;

 

		(c)	use the Premises for any other industries except for the research, design and manufacturing of
semiconductor, high precision equipment and assembly equipment;

 

		(d)	occupy the Premises before submitting details of the manufacturing processes and trade effluent
discharge to the Pollution Control Department, Ministry of Environment and other relevant Authorities for consideration; and

 

		(e)	use the Premises for electroplating industries.

 

		5.16	Machinery

 

Not
to bring or allow to be brought onto the Premises or any parts of the Building used in common with the Landlord and its other tenants
or occupiers of other parts of the Building and subject to Clause 5.27, any machine or machinery save for typewriters, information
processing systems, copy machines, computers and such other equipment as are required for the purposes of the Tenant's business
or approved by the Landlord and/or their architects and structural engineers.

 

		5.17	No obstruction

 

Not
to:

 

		(a)	place, leave or cause to be placed or left any refuse, cartons, papers, furniture, parcels, bottles
or other goods or things of any type; or to permit or cause to be permitted the placing or parking of bicycles, motor cycles or
scooters, trolleys, fork-lift trucks and other wheeled vehicles, which may obstruct or are likely to obstruct the operations area
of the Building and/or the entrance hall, lobby, staircases or landings leading to the Premises and other Common Areas in the Building;
or

 

		(b)	cause any obstruction in or on the approaches private roads or passage ways adjacent to or leading
to the Building by leaving or parking or permitting to be left or parked any motor vehicle or other carriages belonging to or used
by the Tenant or by any of the Tenant's Occupiers.

 

    	14

    	 

    

 

Provided
Always that the Landlord shall have the full right and liberty and absolute discretion to remove and clear any such obstruction
and all costs and expenses incurred thereby shall be recoverable from the Tenant as a debt payable on demand. Further Provided
that the Landlord shall not be liable to the Tenant or any third party for any loss damage or inconvenience caused by such removal
and the Tenant hereby indemnifies the Landlord in this respect.

 

		5.18	Hazardous goods, etc.

 

Not
to store or bring upon the Premises or any part thereof arms, ammunition or unlawful goods, gun-powder, salt-petre, chemicals,
petrol, kerosene, gas or any goods or things which in the opinion of the Landlord are of an obnoxious, dangerous or hazardous nature
or any explosive or combustible substance and not to place or leave in the entrance, stairways, passages, corridors, lobbies or
other parts of the Common Area any boxes or rubbish or otherwise encumber the same PROVIDED ALWAYS that:

 

		(a)	nothing in this Clause shall be construed to prevent or restrict the Tenant in connection with
the Tenant's current usage of the Premises (which falls within the Permitted Use) from bringing upon the Premises, storing or using
any chemical or substance which may be obnoxious, dangerous, hazardous, explosive or combustible if:

 

		(i)	such chemical or substance is required to be used by the Tenant in its ordinary course of business;
and

 

		(ii)	the bringing upon the Premises, its storage or use of such chemical or substance has, where necessary,
been approved by National Environment Agency and/or other relevant authorities and are otherwise in compliance with the laws of
Singapore,

 

Provided Always
that prior notice is given to the Landlord with proof of such approvals (if applicable and available) and that the Tenant shall
ensure that it applies reasonable skill and care in accordance with good industry practice when using and/or storing such chemical
and substance; and

 

		(b)	in the event:

 

		(i)	the Tenant engages in or undertakes
any new activities or operations at the Premises which fall within the Permitted Use (but do not fall within the scope of the current
usage of the Premises); and

 

		(ii)	such new activities or operations involve
the bringing upon the Premises and/or storage or use at the Premises, of any chemical or substance which may be of an obnoxious,
dangerous or hazardous nature, or are explosive or combustible substances, 

 

the
Tenant shall also furnish to the Landlord proof of the approvals obtained (where necessary) from National Environment Agency and/or
other relevant authorities in relation to the bringing upon the Premises and/or storage or use at the Premises of such chemical
or substance. Any increase in premium for fire or other insurance by the Landlord’s insurer, brought about as a direct consequence
of such bringing upon the Premises and/or storage or use at the Premises of the chemical or substance as provided under this Clause
5.18(b) and levied by the Landlord’s insurer (acting in accordance with standard industry practice), shall be borne by the
Tenant Provided Always that prior notice is given to the Landlord with proof of such approvals and that the Tenant shall
ensure that it applies reasonable skill and care in accordance with good industry practice when using and/or storing such chemical
and substance.

 

    	15

    	 

    

 

		(c)	save as provided in (i) Clause
5.18(a) for which the Tenant shall not be liable for any increase in premium, and
(ii) Clause 5.18(b) for which the Tenant shall be liable only in the manner provided thereunder, if combustible or inflammable
materials are stored in the Premises or any part thereof with the consent in writing of the Landlord, any increase in the premium
for fire or other insurance as may have been taken out by the Landlord shall be borne by the Tenant.

 

		5.19	Litter

 

Not
to throw, place or allow to fall or cause or permit to be thrown or placed in the Common Area, passages, lift shafts, toilets or
other conveniences in the Building any sweepings, rubbish, rags, waste paper or other similar substances or anything of an inflammable
nature, and on demand to pay to the Landlord the costs of removing such things and/or the costs of repairing any damage to common
areas, passages, lift shafts, toilets or other conveniences in the Building arising from the breach hereof.

 

		5.20	Signage, etc.

 

		(a)	Subject to (b) below, not to affix, erect, paint, attach or otherwise exhibit or permit or suffer
so to be upon any part of the exterior of the Premises or the windows thereof any name, writing, drawing, sign-board, plate, placard,
poster, sign post, flag pole, television, radio or wireless mast or advertisement whatsoever Provided Always that subject to the
approval of the Landlord which approval shall not be unreasonably withheld as to the size, materials to be used and design and
content, the Tenant shall be at liberty to affix its name on the entrance door of the Premises and to have its name and location
shown on a notice board giving the names of the tenants in the Building which shall be provided by the Landlord in the entrance
foyer of the Building and at such other areas as the Landlord may provide and Provided Always that any signage shall be at the
Tenant's own cost and expense.

 

		(b)	Subject to JTC’s consent and the Landlord’s approval (such approval not to be unreasonably
delayed or withheld) as to the size, materials to be used, design and content, the Tenant shall have signage rights in respect
of the main facades of the Building provided always that the Landlord shall be entitled to display an equal
number of signages which the Tenant is displaying, on any facade of the Building or at any part of the Land without the prior consent
of the Tenant. The Landlord shall not charge the Tenant for the signage rights. The costs of all signage works required by the
Tenant and applications to the Authorities for the relevant Approvals relating to the signage shall be borne by the Tenant.

 

		(c)	The Tenant shall be entitled to erect a pylon on the Land for the purpose of displaying its signage,
subject to the Landlord's approval (which approval shall not be unreasonably withheld) as to the design, location and size thereof.

 

		5.21	Nuisance

 

Not
to do or permit to be done any act or thing which may become a nuisance to or give cause for reasonable complaint from the occupants
of neighbouring premises or of other parts of the Building and not to cause, make, permit or allow excessive noise in or to emanate
from the Premises.

 

    	16

    	 

    

 

		5.22	Illegal or Immoral use

 

Not
to do or suffer to be done anything in or upon the Premises or any part thereof of an illegal or immoral nature and not to use
the Premises or any part thereof for any unlawful purpose.

 

		5.23	Compliance with statutes and regulations

 

At
all times to comply with all such requirements as may be imposed on the occupier and/or user of the Premises by any statute now
or hereafter in force and any orders rules requirements regulations and notices thereunder.

 

		5.24	Foreign workers

 

Without
prejudice to the generality of Clauses 5.22 and 5.23, not to use, permit or suffer the Premises to be kept or used as a place or
premises in which any person is employed in contravention of Section 57(1)(e) of the Immigration Act (Chapter 133 of Singapore),
Section 5 of the Employment of Foreign Manpower Act (Chapter 91A of Singapore) or any other laws, statutory modification or re-enactment
thereof for the time being in force and to indemnify the Landlord against all costs, claims, liabilities, fines or expenses whatsoever
which may fall upon the Landlord by reason of any non-compliance thereof.

 

		5.25	Use of "Mapletree" name

 

Not
to use any name or description in connection with the Tenant's business similar to or bearing any resemblance to the name of "Mapletree".

 

		5.26	Use of passenger lifts

 

Not
to place or take into the passenger lifts any baggage parcels, sacks, bags or other goods save such light articles as brief cases
attache cases or handbags and not to permit any persons who are carrying out renovation, redecoration, alteration or such other
works to the Premises to use the passenger lifts.

 

		5.27	Floor loading

 

		(a)	Not to load or permit or suffer to be loaded on any part of the floors of the Building or the Premises
a weight greater than the weight stated in Item 10 of the Third Schedule without the prior written consent of the Landlord
and the Tenant shall comply with the advice of the Landlord or the Landlord's Consultants and pay all the costs and expenses of
the Landlord's Consultants in ensuring that the Tenant complies with the requirements of this Clause.

 

		(b)	To ensure that in no event shall any such machinery cabinets safes equipment or goods be of such
nature or size as to cause or in the opinion of the Landlord be likely to cause structural or other damage to the floor or walls
or any other parts of the Premises or the Common Area including the service lift and to ensure that all such machinery cabinets
safes equipment or goods brought upon the Premises are placed or located so as to distribute their weight in compliance with this
covenant and shall when required by the Landlord distribute any load on any part of the floor of the Premises in accordance with
the direction and requirements of the Landlord and in the interpretation and application of the provisions of this Clause the decision
of the Structural Engineer or Architect of the Landlord shall be final and binding on the Tenant.

 

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		(c)	To obtain from time to time acting reasonably, and/or whenever necessary, at its own cost and expense
the following:

 

		(i)	the requisite certificate from the Landlord's Consultants certifying that the floor loading in
the Premises is within the approved load bearing limits of the Premises in accordance with the provisions of this Clause 5.27 and
shall forthwith produce and deliver to the Landlord the said certificate for the Landlord's inspection; and

 

		(ii)	all necessary planning permission and other permission necessary under the provisions of any statute
rule order regulation or bye-law in respect of floor loading. The Landlord shall render its assistance, at the Tenant's request,
in executing or endorsing any forms, plans, letters and documents to be submitted to the relevant authorities in this regard, with
all costs and expenses to be borne by the Tenant.

 

		5.28	Structural review

 

To
obtain the prior written consent of the Landlord and to pay all costs and expenses incurred by the Landlord in any structural review
relating to the relocation of all such machinery cabinets safes equipment or goods.

 

		5.29	Relocation

 

In
the event that any relocation whatsoever whether with or without the Landlord’s
consent shall cause injury or damage to person or property as a result of the Tenant’s breach of the terms
of this Agreement or the Tenant’s wilful default or gross negligence, the Tenant
shall hold the Landlord indemnified against all claims in respect thereof and shall repay to the Landlord any sums paid by the
Landlord in connection with claims arising from such injury or damage and shall pay for all costs incurred in repairing any damage
caused to the Building or its appurtenances.

 

		5.30	Delivery vehicles

 

Not
to permit trade vehicles while being used for delivery and pick up of merchandise to or from the Premises to be driven parked or
stopped at any place or time within the Building except within the Designated Loading Docks, or such other loading docks of the
Building and except at such other place or places and at such time or times as the Landlord may reasonably and specifically allow
and the Tenant shall prohibit its employees service suppliers and others over whom it may have control from parking delivery vehicles
during loading or unloading in any place other than the said Designated Loading Docks and such other loading docks or such other
places which the Landlord may from time to time allot for such purposes and from obstructing in any manner howsoever the entrances
exits and driveways in and to the common parking areas and also the pedestrian footways in or to the Common Area.

 

		5.31	Insurance

 

The
Tenant shall at all times during the Term and during any period of holding over to:

 

		(a)	effect and keep current a public liability insurance policy against claims for third party personal
injury, death, property damage or loss (which shall be taken out with a reputable insurance company and which shall include a provision
for waiver of subrogation against the Landlord) for a sum not less than the sum stated in Item 11 of the Third Schedule or such
other sum as may be specified by the Landlord from time to time in respect of the Premises and where requested by the Landlord,
the Tenant shall procure issuance of a certificate by its insurers, noting the Landlord’s interest as landlord of the Premises;

 

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		(b)	effect and keep current an adequate insurance policy (which shall be taken out with a reputable
insurance company and which shall include a provision for waiver of subrogation against the Landlord) on the internal partitions,
all of the Tenant’s property including all plant, equipment and installations permanently affixed to the Premises, the furniture,
plate and tempered glass, fixtures and fittings, and all goods and stock-in-trade belonging to or held in trust by the Tenant in
the Premises to their full insurable value against all risks commonly insured against in respect of such property (subject to the
standard exclusions made by reputable insurers); and 

 

and
to promptly pay all premiums costs and disbursements in connection therewith and to produce to the Landlord on demand certificates
issued by the Tenant’s insurers relating to the policies referred to above as well as the receipts evidencing payment of
the premiums in respect thereof. Provided Always that nothing herein shall render the Landlord liable for the correctness or adequacy
of any such policies or for ensuring that they comply with all relevant legislation pertaining to such insurance. 

 

		5.32	Not to void insurance for Building

 

Not
to do or permit or suffer anything to be done whereby:

 

		(a)	the policy or policies of insurance on the Building against loss or damage by fire and/or other
risks for the time being subsisting may become void or voidable; or

 

		(b)	the rate of premium thereon may be increased and to repay to the Landlord all sums paid (the "Increased
Payments") by way of increased premium or increased contribution for premium and all expenses incurred by the Landlord
or contributions therefor in or about the renewal of such policy or policies rendered necessary by a breach or non-observance of
this stipulation, save for:

 

		(i)	any Increased Payments brought about
by the Tenant’s activities which are in compliance with the Permitted Use and/or Clauses 5.18(a); and

 

		(ii)	any Increased Payments arising from
the matters under Clause 5.18(b), for which the Tenant shall only be liable to the extent therein provided; 

 

and
to appoint a fire safety manager under the Fire Safety Act (Chapter 109A of Singapore) to maintain, inter alia, the fire
alarm and fire protection systems on the Premises.

 

		5.33	Sub-letting, assignment, etc.

 

		(a)	Subject to Clauses 5.33(b) and 5.33(c), not to assign sub-let license or in any way dispose of
or part with possession of the Premises or any part thereof either by way of sub-letting sharing or other means whereby any company
or person or persons not a party to this Lease obtains the use or possession of the Premises or any part thereof irrespective of
whether or not any rental or other consideration is given for such use or possession and in the event of such action by the Tenant,
this Agreement shall at the option of the Landlord forthwith be determined and the Tenant shall forthwith surrender the Premises
to the Landlord with vacant possession. For the purpose hereof any amalgamation and/or reconstruction shall be deemed an assignment
of this Lease. The provisions of Section 17 of the Conveyancing and Law of Property Act (Chapter 61 of Singapore) shall not apply
to this Agreement.

  

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		(b)	The Tenant may assign sub-let license or dispose of or part with possession of the Premises or
any part thereof (either by way of sub-letting sharing or other means) to a related corporation of the Tenant as defined under
the Companies Act (Chapter 50 of Singapore) with the prior written consent of JTC and the Landlord, (whose consent shall not be
unreasonably withheld having regard to JTC’s conditions as set out in the JTC Lease Documents).

  

		(c)	Notwithstanding Clause 5.33(a) above, the Landlord hereby allows the Tenant during the Term to
sub-let part of the Premises to other corporations that are not related to the Tenant (the "Sub-Tenant(s)"),
subject to JTC’s prior written consent and to the Landlord’s prior written consent (whose consent shall not be unreasonably
withheld having regard to JTC’s conditions as set out in the JTC Lease Documents) and to such conditions as may be imposed
by the Landlord, including but not limited to the following:

 

		(i)	The Landlord and Tenant hereby acknowledge
that, in subletting part of the Premises, it is not the intention of the Tenant to compete with the Landlord. As such, the Tenant
hereby undertakes to use commercially reasonable efforts to sublease the Premises at a rate per square foot at the prevailing market
rate of the Premises acceptable to the Landlord, acting reasonably, as at the date of the Tenant’s notification or application
for consent (as the case may be) for proposed subletting of the Premises. 

 

		(ii)	Subject to the approval of the Tenant (acting reasonably), all profit rent shall accrue to the
Landlord. The profit rent shall be calculated as an amount equivalent to the difference between
(I) the total amounts / rent and service charge (if any) payable
by the Sub-Tenant to the Tenant, after deducting the aggregate of the
following costs: estate agent’s commission, costs of any alterations to facilitate access to the sublet premises,
costs of any consequent loss of space (due to alteration required to facilitate access to the sublet premises and the introduction
of any corridor in the Premises), and (II) the Gross Rent paid
by the Tenant to the Landlord and which are apportioned to the sublet premises
Provided Always that the Tenant shall act reasonably in incurring the costs referred to in sub-paragraph (I) of this Clause 5.33(c)(ii);

 

		(iii)	The Tenant shall continue to occupy at least [166,200] square
feet of the net lettable area of the Building after each subletting;

 

		(iv)	The Tenant shall provide the Landlord with a copy of the subletting agreement;

 

		(v)	The configuration of the sublet premises shall be subject to the Landlord’s prior approval,
which approval shall not be unreasonably withheld;

 

		(vi)	All costs and expenses in relation to the subletting shall be borne by the Tenant;

 

		(vii)	The term of the subletting shall end on or before the day immediately prior to the date of expiry
of the Term herein; and

 

		(viii)	The Tenant shall continue to be responsible to the Landlord for the due performance
of the Tenant’s covenants and obligations under the Lease, including but not limited to the Tenant’s obligation to
pay the Rent and to reinstate the Premises in accordance with the provisions of this Agreement on or before the expiry of the Term.

 

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		5.34	Additions and alterations

 

Not
to make any alterations in or additions to the Premises and/or any of the Landlord's furniture fixtures and fittings in or belonging
to the Premises without the previous consent in writing of the Landlord (which shall not be unreasonably withheld) and if the Landlord
shall consent to such alterations or additions the Tenant shall:

 

		(a)	observe and comply with the requirements of the Landlord (which shall be reasonable) and obtain
at its own expense all necessary planning permission and other permission necessary under the provisions of any statute, rule,
order, regulation or bye-law applicable thereto and shall carry out such alterations or additions in accordance with the conditions
thereof; and

 

		(b)	produce to the Landlord a copy of the Certificate of Supervision issued by the Landlord's Architect
or other authorised person making the submissions to the relevant authority for the planning and other permission,

 

and
upon completion of any such alterations or additions, to produce to the Landlord the "as-built" drawings duly endorsed
by the relevant authority.

 

		5.35	Yielding up

 

At
the expiry or sooner determination of the Term (unless renewed), to peaceably and quietly yield up the Premises with all locks
and keys complete (whether held by the Tenant or any of the Tenant's employees or agents irrespective of whether the same have
been supplied by the Landlord) to the Landlord together with the fixtures and fittings therein in good and tenantable repair state
and condition (save for fair wear and tear and damage by fire other than that caused by the Tenant ) in accordance with the stipulations
hereinbefore contained and in accordance also with the covenants and conditions contained or imposed in or by virtue of any licence
granted by the Landlord herein and prior to the termination of the Term to do the following:

 

		(a)	forthwith replace with items of similar character and comparable value, all of the Landlord's fixtures
and fittings which shall be missing, broken, damaged or destroyed and for which the Tenant is liable to make good;

 

		(b)	in the event that any alterations or fitting-out works have been carried out to the Premises or
to any other part of the Building by the Tenant, its contractors, servants or agents, then (if and so required by the Landlord)
to restore the Premises to its Original Condition and in any event to remove any lettering, moulding, sign, writing or painting
of the name or business of the Tenant and other persons from the Premises and all internal partitions, fixtures and installations
of the Tenant as are specified by the Landlord and any other Tenant's equipment placed within or on the Building and to restore
all air-conditioning installations or other electrical installations to their Original Condition to the reasonable satisfaction
of the Landlord (all such works being hereinafter referred to as the "restoration works"). The restoration
works relating to the reinstatement of all architectural and structural
works, air-conditioning installations, sprinkler systems and other mechanical and engineering, building and sanitary installations
shall be carried out by a contractor approved by the Landlord which approval shall not be unreasonably withheld and under the supervision
of the Landlord's Consultant(s) and the Tenant shall pay for all reasonable costs, charges, fees, disbursements and expenses of
the Landlord's Consultant(s), an estimate for which will be notified to the Tenant beforehand. In all other cases, the removal
and restoration works in respect of the Premises shall be carried out by a contractor approved by the Landlord, which approval
shall not be unreasonably withheld Provided Always that the Tenant shall obtain all necessary governmental and/or statutory consents
and approvals in respect of the restoration works before commencing the same and shall comply with all statutes and with the terms,
conditions and requirements of all such consents and approvals in the execution of any restoration works; and

 

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		(c)	make good all damage or defacement done to the Premises or the Building by the restoration works
or by the removal of the Tenant's furniture, fixtures, fittings and effects,

 

AND if the Tenant fails to comply
with and perform its obligations under this sub-clause, the Landlord may (but shall not be obliged to) do all things necessary
to effect such compliance and/or performance to the Landlord's satisfaction. If the Landlord carries out the necessary works, the
Landlord must endeavour to complete the works as soon as possible. The Tenant shall on demand pay all costs incurred by the Landlord
in connection therewith and an administrative fee at 7.5% of the costs incurred and a sum equivalent to the Rent and Service Charge
for and calculated based on the period taken by the Landlord to complete the works . In the event that the period taken extends
beyond the expiry of three (3) months after the expiry of the Term, the Tenant shall pay to the Landlord a sum equivalent to double
the Rent and Service Charge for such period which falls after the three (3) months period as aforesaid. Such costs, the Rent, Service
Charge and other amounts shall be a debt due from the Tenant to the Landlord and recoverable forthwith as such. For the avoidance
of doubt, any request for reinstatement works to be carried out after expiry or sooner determination of the Term shall be at the
sole discretion and under the direction of the Landlord.

 

		5.36	Indemnity

 

The
Tenant shall indemnify and keep indemnified the Landlord in full from and/or against the following where the same has been caused
directly or indirectly by the Tenant or by any of the Tenant’s occupiers:

 

		(a)	all claims demands actions suits proceedings orders damages costs losses and expenses of any nature
whatsoever which the Landlord may suffer or incur in connection with loss of life personal injury and/or damage to property arising
from or out of any occurrences in upon or at the Premises or the use of the Premises or any part thereof; and

 

		(b)	all loss and damage to the Premises and the Building or any part thereof and to all property therein
and in particular but without limiting the generality of the foregoing caused directly or indirectly by the use or misuse waste
or abuse of water gas or electricity or faulty fittings or fixtures of the Tenant.

 

Provided
That: 

 

		(i)	No claims demands actions or proceedings
shall be made or brought by the Landlord against the Tenant and the Tenant shall not be liable to the Landlord for any loss, damage,
costs or expenses arising from or in connection with the wilful default or gross negligence of the Landlord, its employees, agents,
independent contractors, authorised persons or licensees. 

 

		(ii)	However in
the case where there is contributory negligence on the part of the Tenant, the Tenant shall be liable under this Clause 5.36 to
indemnify the Landlord but only to the extent of its negligence, which caused the loss of life, personal injury and/or damage to
property arising from or out of any occurrences in upon or at the Premises or the use of the Premises or any part thereof.

 

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		5.37	Rules and regulations

 

To
observe and perform and to cause all the Tenant's Occupiers to observe and perform all the
rules and regulations made by the Landlord from time to time for the management safety care or cleanliness of the Building and
the Building or for the preservation of good order therein or for the convenience of tenants and notified in writing by the Landlord
to the Tenant from time to time Provided Always that: 

 

		(a)	reasonable prior notice shall be given to the Tenant before implementation of the rules and regulations;
and

 

		(b)	the Landlord shall not be liable to the Tenant in any way for violation of the rules and regulations
by any persons including other tenants of the Building or the employees, independent contractors, agents, visitors, invitees or
licensees thereof.

 

Where
there is a conflict between the provisions of this Agreement and such rules and regulations, the provisions of this Agreement will
prevail.

 

		5.38	Re-Ietting

 

Save
where the Tenant has exercised the option for the First Option Term or the Second Option Term (as the case may be), to permit the
Landlord and/or its agents and/or any prospective tenants of the Landlord during the twelve (12) calendar months prior to the expiry
of the Term upon prior appointment to have free ingress to and egress from the Premises to view the Premises for the purpose of
letting the same.

 

		5.39	Legal costs and expenses (Indemnity by Tenant)

 

The
Tenant shall pay or indemnify the Landlord (on a full indemnity basis) against:

 

		(a)	the stamp duty including penalty fees, adjudication fees and additional stamp duty (if any) in
respect of this Agreement and any other document relating to this Agreement herein; and

 

		(b)	all legal costs and fees and such other expenses incurred by the Landlord in consulting solicitors
and/or in connection with the enforcement of any provision of this Agreement in the event that the Tenant acknowledges
or does not dispute that it is in breach or is adjudged by a court, tribunal or arbitrator to be in breach of any provision
of this Agreement.

 

		5.40	Disposal of waste by Tenant

 

To
dispose of all swill debris and waste materials of whatever nature (including, but not limited to, noxious industrial waste, packaging
materials and trade waste) in a manner prescribed by the Landlord and in accordance with the requirements of the relevant authorities
failing which the Landlord reserves the right (without under any obligation to do so) to dispose of the same as aforesaid and all
costs and expenses incurred by the Landlord in this respect (including but not limited to the costs of treating any waste materials
before disposal) shall be paid by the Tenant to the Landlord within fourteen (14) days of the Landlord notifying the Tenant of
the amount thereof Provided Always that in the event that the Tenant is unable or unwilling to comply with the manner of swill
debris and/or waste removal prescribed by the Landlord, the Tenant shall engage the services of a cleaning contractor appointed
by the Landlord (as a third party contractor and not an employee or agent) to be responsible for the swill/debris/waste disposal
on the following terms and conditions:

 

    	23

    	 

    

 

		(a)	The Tenant shall pay for its share of the costs of engaging the said contractor, which share shall
be calculated by dividing the area of the Premises by the sum of the area of all units engaging the services of the said contractor.
A certificate by the Landlord setting out the Tenant's said share shall be deemed to be final and conclusive (save for manifest
error) and binding on all parties.

 

		(b)	The Tenant shall give the Landlord one (1) month's prior written notice of its intention to engage
the said contractor.

 

		(c)	The said contractor shall carry out its services only in accordance with the Landlord's prescribed
guidelines.

 

		(d)	Subject to the provisos to Clauses 9.6 and 9.7 which shall apply hereto as if expressly set out
herein, the Landlord shall not be responsible for any damage loss costs or expenses resulting directly or otherwise from the services
of the said contractor.

 

		(e)	Subject to the extent of the Tenant’s liability as set out in Clause 5.40(a), the Tenant
shall indemnify and keep the Landlord indemnified against any claim relating to any damage loss costs or expenses under this Clause
5.40.

 

For
the avoidance of doubt, the Service Charge payable by the Tenant shall not include the costs and expenses to be borne by the Tenant
for any of the above-mentioned swill, debris and waste disposal.

 

		5.41	Subdivision

 

Not
during the continuance of the Term to register this Agreement nor lodge any caveat or notification of this Agreement at the Singapore
Land Authority or at any other registry in Singapore, nor shall the Tenant be entitled to require the Landlord to subdivide the
Building or to do any act or thing which could result in the Landlord being required to subdivide the Building. 

 

		5.42	Air-conditioning

 

To
periodically inspect, service, repair, overhaul and maintain to the satisfaction of the Landlord the air-conditioning unit system
installed in the Premises, including but not limited to the air-conditioning ducts, and to pay the costs and charges thereof.

 

		5.43	Other Charges

 

To
pay all charges in respect of any service which the Landlord has provided to the Tenant in relation to the Premises from time to
time, at the Tenant's request, as may be imposed by the Landlord. The Landlord may apply and apportion any amount received in whatever
order as it deems fit.

 

		5.44	Observance of Head lease

 

Not
to do or omit any act or thing which is likely to cause the Landlord to be in breach of its obligations under the Head Lease.

 

    	24

    	 

    

 

		6.	HOLDING OVER

 

If
the Tenant fails to deliver vacant possession of or continues to occupy the Premises after the expiration of the Term and there
is no express agreement between the Landlord and the Tenant to extend the Term, the Tenant shall be deemed to be holding over and,
without prejudice to any right or remedy of the Landlord, shall pay to the Landlord for every day of such holding over double the
amount of Rent or the prevailing market rent for the Premises (whichever is higher) and double the amount of Service Charge and
there shall be no renewal of this Lease by operation of law or pursuant to the provisions of this Lease Provided always that the
Tenant may continue to occupy the Premises for a period of three (3) months after the expiration of the Term at the same Rent and
Service Charge subject to the Tenant giving written notice to the Landlord of its intention to do so no later than three (3) months
before the expiration of the Term. Save as provided, the provisions herein shall not be construed as the Landlord's consent for
the Tenant to hold over after the expiration or earlier determination of the Term. All sums under this Clause shall be payable
by the Tenant to the Landlord within fourteen (14) days of demand.

 

		7.	INDEMNIFICATION AGAINST ALL OTHER LOSSES AND DAMAGES

 

Without
prejudice to the Landlord's rights under Section 28(4) of the Civil Law Act (Chapter 43 of Singapore), and/or any of the Clauses
provided herein, the Tenant will reimburse or indemnify the Landlord against all other losses and damages suffered by the Landlord
as a result of the Tenant's breach or non-observance of any of the terms in this Lease, save where the same has arisen as a result
of the gross negligence or wilful default of the Landlord, and/or, save as provided in Clause 6, the Tenant's holding over of the
Premises after the expiration of the Term hereby created.

 

		8.	LANDLORD'S COVENANTS

 

The
Landlord hereby agrees with the Tenant as follows:

 

		8.1	Quiet enjoyment

 

That
the Tenant duly paying the monthly Rent and monthly Service Charge hereby reserved and observing and performing the several provisions
and stipulations on the Tenant's part hereinbefore contained the Tenant shall peaceably hold and enjoy the Premises during the
Term without any disturbance by the Landlord or any person lawfully claiming under or in trust for the Landlord.

 

		8.2	Destruction

 

In
the event of the Premises or any part thereof at anytime during the term hereby created being so damaged or destroyed by fire act
of God or other cause beyond the control of the Landlord as to render the Premises unfit for use or access thereto impossible then
(except where such fire has been caused by the default or negligence of the Tenant or the Tenant's servants or agents) the Rent
and Service Charge hereby reserved or a fair proportion thereof according to the nature and extent of the damage sustained shall
be suspended until the Premises shall again be rendered fit for occupation and use or until access thereto may be obtained as the
case may be.

 

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If the unfitness
of the Premises or inaccessibility thereto as aforesaid shall continue for a period of more than sixty (60) days, either the Landlord
or the Tenant shall be at liberty by notice in writing to determine the Term hereby created and upon such notice being given the
Term hereby granted shall absolutely cease and determine but without prejudice to any right of action of the Landlord or the Tenant
in respect of any antecedent breach of this Lease by the Tenant or the Landlord as the case may be. Notwithstanding anything herein
contained the Landlord shall not be bound to rebuild or reinstate the Premises or any part thereof unless the Landlord shall in
its discretion think fit. Upon such termination, the Tenant must (if still in occupation) vacate the Premises without having to
reinstate the Premises in accordance with Clause 5.35.

 

		8.3	Fire insurance

 

At
all times throughout the Term hereby created to insure the Building (excluding the fixtures and fittings of the Tenant) against
loss or damage by fire.

 

		8.4	Repair

 

To
keep in proper state of repair and condition: 

 

		(a)	the structure and roof and the main drains and pipes; and

 

		(b)	the mechanical and electrical services and other services, amenities and facilities in the Building
provided by the Landlord from time to time to serve the Premises in the Building or for common use or benefit of all occupiers
of the Building.

 

		8.5	Services

 

So
far as practicable and subject always to Clause 9.7(g) to provide and pay for:

 

		(a)	(where there are lift(s) in the Building) the lift services during the hours specified in Item
12 of the Third Schedule and as further provided in Clause 9.13B;

 

		(b)	air-conditioning in the Premises during the hours specified in Item 13 of the Third Schedule
PROVIDED ALWAYS that the Landlord shall at the request of the Tenant and at the Tenant's costs and expense extend such services
beyond the specified hours subject always to Clause 5.2;

 

		(c)	air-conditioning services in such parts of the Common Area as the Landlord deems fit and such other
relevant services provided by the Landlord in the Building PROVIDED ALWAYS that the Landlord may not extend the provision of the
air-conditioning services beyond the usual operating hours in such parts of the Common Area due to repairs, maintenance works or
any other reasons beyond the Landlord’s control in which case, the Landlord shall inform the Tenant accordingly;

 

		(d)	electricity and water as are necessary for the lighting of the passages corridors lavatories and
other parts of the Building used by the Tenant in common with others; and

 

		(e)	the services set out in the Fifth Schedule.

 

		8.6	Land Rent and Property Tax

 

To
pay the land rent payable to JTC in respect of the Land and subject always to Clause 5.3
to pay all property tax imposed upon or in respect of the Premises.

 

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		8.7	Other Services

 

That
the Landlord may at the Tenant's request agree (but shall not be obliged) to provide such services in relation to the Premises
from time to time as the Tenant may require, subject to the payment of such fees as the Landlord may impose.

 

		8.8	Licence for reception area

 

 

		(a)	The Landlord shall grant the Tenant a licence (the "Licence") to use such
area at the ground floor main lobby of the Building with an estimated area of approximately [560 square feet] as shown delineated
in red in the plan attached hereto and marked "Appendix 5" for the purpose of identification (the "Licensed
Area") for the duration of the Term, free of any licence fee or service charge.

 

		(b)	The Licensed Area shall be used as the Tenant’s reception area and the Tenant shall be allowed
to set up their reception or concierge counter at the Licensed Area.

 

		(c)	The design of the Licensed Area shall be subject to the approval of the Landlord, which approval
shall not be unreasonably withheld.

 

		(d)	The Tenant may install a signage within the Licensed Area and the exact location and design of
the signage shall be subject to the approval of the Landlord, which approval shall not be unreasonably withheld.

 

		(e)	The Tenant shall bear the costs of fitting out the Licensed Area and the installation of the signage.

 

		(f)	The Landlord shall not, and shall not permit or suffer any other person to, erect or place any
other concierge or reception counter or desk at the ground floor main lobby of the Building for the duration of the Term,
save for the erection or placing of any counter or desk on a temporary basis subject to the prior written approval of the Tenant
(which approval shall not be unreasonably withheld).

 

		(g)	At the expiry or sooner determination of the Term (unless renewed) or in the event of termination
of the Licence, the Tenant must at its own cost and expense yield up the Licensed Area to the Landlord together with the fixtures
and fittings therein in the state and condition as at the date the Tenant commences occupation of the Licensed Area and shall comply
with the provisions of Clause 5.35.

 

		(h)	The use of the Licensed Area shall be subject to the same covenants and conditions of this Lease
(to the extent applicable to a licence and in so far as such covenants and conditions are not inconsistent with the provisions
of this Clause 8.8.

 

		(i)	The Tenant has a personal right of occupation in respect of the Licensed Area on the terms specified
in this Lease and has no interest in the land on which the Licensed Area is situated. The licence of the Licensed Area contained
in this Lease shall not create a tenancy. The legal right to possession and control over the Licensed Area remains vested in the
Landlord throughout the Term of the licence in respect of the Licensed Area.

 

		(j)	Nothing in this clause shall prevent or restrict the Landlord from displaying a tenants’
directory board within the Licensed Area. The size and design of such directory board shall be subject to the Tenant’s
consent, which shall not be unreasonably withheld. 

 

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		9.	GENERAL PROVISIONS

 

Provided
always that it is hereby agreed and declared as follows:

 

		9.1	Interest

 

Without
prejudice to the Landlord's rights reserved under Clause 9.2 hereinafter appearing the Landlord will charge interest at the rate
of one per cent (1%) per month after as well as before any judgement is obtained calculated on a daily basis computed from the
due date for the payment of all monies due under this Lease up to (but excluding the actual date of payment) if the said monies
remain unpaid for fourteen (14) days after its due date (whether formally demanded or not).

 

		9.2	Re-entry

 

		(a)	If the Rent or Service Charge or any other monies hereby reserved or any part thereof shall at
any time be unpaid for ten (10) days after becoming payable (whether formally demanded or not) or if any stipulation on the Tenant's
part herein contained shall not be performed or observed and the Tenant has not
remedied such breach within fourteen (14) days after receiving the Landlord’s written notice to that effect
(or such longer period as the Landlord may reasonably stipulate having regard to the nature and extent of the breach) or
if the Tenant makes any assignment for the benefit of his creditors for a composition in satisfaction of his debts or if being
a company makes any arrangement with its creditors for liquidation of its debts by composition or otherwise or if it shall go into
liquidation (except for the purpose of amalgamation or reconstruction) or if a receiver shall be appointed then and in anyone of
the said cases it shall be lawful for the Landlord at any time thereafter to re-enter the Premises or any part thereof in the name
of the whole and thereupon this tenancy shall absolutely cease and determine but without prejudice to the right of action of the
Landlord in respect of any antecedent breach of the Tenant's stipulations herein contained.

 

		(b)	If the Rent or Service Charge or any other monies hereby reserved or any part thereof shall at
any time be unpaid after becoming payable (whether formally demanded or not), the Landlord shall have the right to distrain in
the manner provided by the Distress Act (Chapter 84 of Singapore). For the avoidance of doubt, for the purposes of distress herein,
the Service Charge and all other monies payable herein by the Tenant (including but not limited to utilities charges, legal costs
and expenses and car park charges) shall be treated as part of the rent distrained.

 

		9.3	Removal of goods

 

		(a)	Upon the Landlord becoming entitled to re-enter the Premises pursuant to any provision of this
Lease, any goods and/or fittings (which expression where hereinafter used in this Clause (a)
shall include personal property of every description) found in the Premises after re-entry shall be deemed to be abandoned by the
Tenant and the Landlord upon entering into possession of the Premises may sell, retain or dispose of the same at such time or times
and at such price or prices as the Landlord shall think fit and without prejudice to the other rights and remedies of the Landlord,
the Landlord shall after payment out of the proceeds of sale the costs and expenses connected with the said sale apply the net
proceeds of sale towards payment of all arrears of rent and the interest thereon and all other sums of money due and payable by
the Tenant to the Landlord under this Lease and the balance (if any) shall be paid over to the Tenant.

 

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		(b)	Notwithstanding anything herein contained, if this Lease shall come to an end whether by effluxion
of time or otherwise and the Tenant shall fail to remove all his goods (which expression where hereinafter used shall include personal
property of every description) from the Premises forthwith or if the Tenant shall abandon the Premises and the Tenant shall be
deemed to have abandoned the Premises and terminated this Lease unilaterally if the Tenant without the consent of the Landlord
fails to open the Premises for business for a continuous period of thirty (30) days then and in any of the said cases it shall
be lawful for the Landlord to sell or otherwise dispose of the goods of the Tenant in the Premises at such time or times and at
such price or prices as the Landlord shall think fit and without prejudice to the other rights and remedies of the Landlord, the
Landlord shall after payment out of the proceeds of sale the costs and expenses connected with the said sale apply the net proceeds
of sale towards payment of all arrears of rent and the interest thereon and all other sums of money due and payable by the Tenant
to the Landlord under this Lease and the balance (if any) shall be paid over to the Tenant.

 

		(c)	The Tenant shall indemnify the Landlord against any and all liability incurred by the Landlord
to any third party whose property shall have been sold or disposed of by the Landlord in the bona fide belief (which shall be presumed
unless the contrary be proved) that such property belonged to the Tenant and was liable to be dealt with as such pursuant to this
Clause (c).

 

		(d)	For the avoidance of doubts, it is hereby expressly declared that the provisions of Clauses 9.3(a)
and 9.3(b) above are in addition and without prejudice to the Landlord's rights under the Distress Act.

 

		9.4	Amendment of rules and regulations

 

The
Landlord shall have the right at any time and from time to time to make, add to, amend, cancel or suspend such rules and regulations
in respect of the Building as in the judgment of the Landlord may from time to time be required for the management, safety, care
and/or cleanliness of the Building and the Building and/or for the preservation of good order therein and/or the convenience of
tenants and all such rules and regulations shall bind the Tenant upon and from the date on which notice in writing thereof is given
by the Landlord to the Tenant. Where there is a conflict between the provisions of this Agreement and the provisions of such rules
and regulations the provisions of this Agreement shall prevail.

 

		9.5	No enforcement of other covenants

 

Nothing
herein contained shall confer on the Tenant any right to enforce any covenant or agreement relating to other portions of the Building
and/or the Building demised by the Landlord or limit or affect the right of the Landlord in respect of any such other premises
to deal with the same. The Landlord reserves the right to impose and/or vary such terms and conditions in respect thereof in any
manner as the Landlord may think fit.

 

		9.6	No liability

 

Notwithstanding
anything herein contained the Landlord shall be under no liability either to the Tenant or the Tenant's Occupiers or to others
who may be permitted to enter or use the Building or any part thereof for accidents happening or injuries sustained or for loss
of or damage to property goods or chattels in the Building or in any part thereof whether arising from the negligence or otherwise
of the Landlord or that of any servant or agent of the Landlord Provided that the provisions of this Clause shall not apply in
the event of any loss or damage arising from the wilful default or gross negligence of the Landlord, its employee, agent or independent
contractor.

 

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		9.7	No claims

 

Notwithstanding
anything herein contained the Landlord shall not be liable to the Tenant, its agents, servants, invitees or licensees nor shall
the Tenant have any claim against the Landlord in respect of:

 

		(a)	any interruption in any of the services hereinbefore mentioned by reason of necessary repair or
maintenance of any installations or apparatus or damage thereto or destruction thereof by fire, water, riot, act of God or other
cause beyond the Landlord's control or by reason of mechanical or other defect or breakdown or other inclement conditions or shortage
of manpower, fuel, materials, electricity or water or by reason of labour disputes;

 

		(b)	any act, omission, default, misconduct or negligence of any porter, attendant or other servant
or employee, independent contractor or agent of the Landlord in or about the performance or purported performance of any duty relating
to the provision of the said services or any of them;

 

		(c)	any damage, injury or loss arising out of explosion, falling plaster, escape of water or leakage
of or defect in the piping, wiring and/or sprinkler system in the Building and/or the structure of the Building and/or any defect
in the Building and/or any of the same arising in respect of the Building;

 

		(d)	any damage, injury or loss due to any accident or circumstances whatsoever occurring or any works
whatsoever (and however extensive) being carried out at the Premises, the Building or any part thereof or arising out of any defect
or flaw whatsoever in or non-performance of any of the equipment, products, systems and processes utilised by the Landlord (including
without limitation all hardware, software and networks);

 

		(e)	any damage, injury or loss caused by other tenants, occupants or any independent contractor or
any persons whatsoever or from any occurrence or works at any other premises or within the Premises, the Building or any part thereof;

 

		(f)	any nuisance, interference, obstruction, disturbance or other inconvenience or any loss of business
caused by any works carried out, whether by the Landlord or otherwise, on or in respect of the Premises, the Building or any part
thereof;

 

		(g)	any loss of life, personal injury and/or damage to property arising from or out of anything else
done in connection with the Premises; and

 

		(h)	any loss or damage to the Premises or any property herein caused directly or indirectly by the
main contractor or by any other contractor or any attendant, servant or employee of the Landlord in or about the performance or
purported performance of any duty relating to the Premises.

 

Provided that
the provisions of this Clause shall not apply in the event of any loss or damage arising from the wilful default or gross negligence
of the Landlord, its employee, agent or independent contractor.

 

		9.8	Vicarious liability

 

No
architect, engineer or other consultant or contractor of any kind (including without limitation any contractors providing cleaning
and waste removal services} approved, nominated or appointed by the Landlord or the Tenant for any purpose related to this Agreement
or the Premises shall in any way be deemed to be the agent or employee of the Landlord, and the Landlord shall not in any way be
liable nor responsible for any act, omission, default, misconduct or negligence of such architect, engineer, consultant or contractor.

 

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		9.9	Alterations to the Building

 

The
Landlord shall be at liberty at any time and from time to time and in any manner whatsoever to improve, extend, amend, alter, renovate
and/or refurbish the the Building (excluding the Premises) and/or the Common Area Provided that any works which the Landlord carries
out under this Clause shall not result in a breach of the Key Parameters, or any of them. Without limiting the generality of the
foregoing, the Landlord may increase the total lettable floor area of the Building and/or the Building in any manner whatsoever
notwithstanding that by so doing, the access of light or air to the Premises or any liberties, easement, right or advantage belonging
to the Tenant may thereby be diminished or interfered with or prejudicially affected (but not so as to interfere unreasonably with
the Tenant's use and enjoyment of the Premises) and for the purposes of this sub-clause or any purposes whatsoever, the Landlord
and its duly authorised agents with or without workmen may at all reasonable times enter upon the Premises by prior appointment,
the Common Area and/or any part of the Building to do such works, acts and things as the Landlord may deem necessary.

 

		9.10	Change of name

 

		(a)	The Landlord agrees that, subject to the Landlord's prior written approval as to the name (which
approval shall not be unreasonably withheld) and the Tenant occupying at least [166,200] square feet of the net lettable area of
the Building, the Tenant shall have the right, for the duration of the Term to:

 

		(i)	name the Building; and

 

		(ii)	change the name of the Building,

 

Provided Always
that the Tenant's naming rights to the Building shall lapse one (1) month prior to the expiry of the term then in force in the
event that the Tenant does not renew (I) the initial Term granted
for the first ten years or (II) the term after expiry of the second
ten years, as the case may be, whereupon the Landlord shall, subject to Clause 9.10(d), have naming rights to the Building.

 

		(b)	The Landlord shall not be entitled to any naming rights to the Building during the Term (save as
provided in Clause 9.10(a)) nor shall the Landlord be entitled, save as provided in Clause 5.20(b), to put up any monument, signs,
advertisements, notices or banners at the Property during the Term.

 

		(c)	Where the Tenant requires a change of the name of the Building, the Landlord shall endorse on any
application, notice or other document that may be necessary by the Tenant to be filed with the relevant authority to facilitate
any such change in the name of the Building. The Landlord shall return to the Tenant the relevant application, notice or other
document duly endorsed by it within fourteen (14) days of the Tenant’s delivery of the same to the Landlord for endorsement.

 

		(d)	At the expiration or sooner determination of the Term, the Landlord shall, at the Tenant’s
request or if the Tenant has not on its own accord done so, within fourteen (14) days after such date of expiration or earlier
determination of the Term, at the Tenant’s cost and expense, apply to the relevant authority for the cessation of the use
of such name as may be used as the name of the Building as at such expiration or sooner determination of the Term and in this connection,
the Landlord hereby undertakes not to use the Tenant's name as the name of the Building at any time thereafter.

 

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		9.11	CSC

 

Without
prejudice to the generality of Clause 9.9 above, if at any time after the delivery of the Premises to the Tenant but before the
issue of the CSC (or its equivalent) in respect of the Building, any governmental, statutory or other competent authority having
jurisdiction over or in respect of the Premises or the user thereof requests, requires, notifies or orders any alterations, additions,
conversions, improvements or other works to be made/carried out to the Premises, the Tenant shall at all times permit the Landlord
and its workmen and agents to enter upon the Premises for the purpose of making or carrying out any such alterations, additions,
conversions, improvements or other works. The Tenant shall, if so requested by the Landlord, remove such of the Tenant's installations,
machinery, furniture, fixtures or articles as the Landlord may specify in order to facilitate or enable the Landlord and its workmen
and agents to carry out the necessary works.

 

		9.12	Tenant not to jeopardise CSC

 

In
the event that the issue of the CSC for the Building is rejected or otherwise withheld or delayed as a result of any modification,
alteration or addition or any installation carried out or caused to be carried out by the Tenant without the prior written consent
of the Landlord or as a result of any act, default or omission on the part of the Tenant, the Landlord may by notice in writing
require the Tenant to rectify the same within a period of fourteen (14) days. If the Tenant fails to rectify the same within the
said period of fourteen (14) days, the Landlord, its workmen and/or agents shall be entitled to enter upon the Premises and carry
out such works as may be necessary to comply with the requirements of the competent authorities. The cost of such works and any
losses or damages suffered by the Landlord consequent upon the rejection, withholding or delay (as the case may be) of the CSC
as aforesaid shall be a debt due by the Tenant and recoverable forthwith.

 

		9.13	Car parks

 

		(a)	Subject to Clause 9.13(b),

 

		(i)	The Landlord shall provide to the Tenant 150 car park lots at the Premises during the Term (the
"Allocated Car Park Lots") free of charge for the use of the Allocated Car Park Lots.

 

		(ii)	The Tenant shall have a one-time first right of refusal in respect of the allocation of the 151st
to 190th car park lots at the rate of S$90 per lot per month. Any further request for car park lots is subject to availability
on a first-come-first-served basis at the same rate of S$90 per lot per month.

 

		(b)	In the event of any surrender of the Premises under Clause 9.17 such that the Tenant occupies less
than [166,200] square feet of the net lettable area of the Building, the Tenant’s entitlement under Clause 9.13(a) shall
be revoked entirely and the Landlord will allocate one car park lot for every intergral multiple of [1,200]
square feet of the net lettable area of the Building occupied by the Tenant after the surrender subject to payment for the car
park lots at the rate under Clause 9.13(a)(ii).

 

		9.13A	Designated Loading Docks

 

The
Landlord shall for the duration of the Term provide the Designated Loading Docks for use by the Tenant and all persons authorised
by the Tenant, free of charge. Where any of the Designated Loading Docks is not in use, any occupier in the Building may use the
same provided always that when the Tenant or persons authorised by the Tenant wishes to use the Designated Loading Docks and notifies
the Landlord accordingly, the Landlord shall take appropriate steps to clear such occupier from the Designated Loading Docks, in
order to facilitate the use of the same by the Tenant or other person(s) authorised by the Tenant .

 

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		9.13B	Lift/Cargo Lift

 

Subject
to the Landlord’s right to cease the operation of the lifts for repairs and maintenance works and provided that the Tenant
occupies at least [166,200] square feet of the net lettable area of the Building, the Landlord shall for the duration of the Term,
provide to the Tenant for exclusive use by the Tenant and all persons authorised by the Tenant free of charge, two (2) cargo lifts
at the Building as shown delineated in red in the plan attached hereto and marked Appendix 6 for the purpose of identification.
The operating hours for the cargo lifts are as follows: 

 

		(a)	one (1) of the two (2) cargo lifts designated for the Tenant's use and one (1) of the other two
(2) cargo lifts for common use by all tenants of the Building shall operate for twenty-four (24) hours from Mondays to Sundays
(gazetted public holidays included); and

 

		(b)	the other cargo lift designated for the Tenant's use and the other common cargo lift shall operate
from 6.00 a.m. to 12.00 midnight from Mondays to Sundays (gazetted public holidays included).

 

The Landlord shall for the duration
of the Term provide the use of all four (4) passenger lifts at the following operating hours:

 

		(i)	two (2) passenger lifts located at the rear lobby shall operate for twenty-four (24) hours from
Mondays to Sundays (gazetted public holidays included); and

 

		(ii)	two (2) passenger lifts located at the front lobby shall operate from 6.00 a.m. to 12.00 a.m. from
Mondays to Fridays and from 6.00 a.m. to 1.00 p.m. on Saturdays (Sundays and gazetted public holidays excluded).

 

		9.14	Option to Renew

 

Option
Terms

 

The
Tenant shall be entitled to two options to renew the Lease Agreement, subject to JTC’s consent:

 

Each
renewal lease term shall be called an "Option Term"
and each Option Term shall be for the following periods: 

 

	(a)	First Option Term	Ten (10) years commencing on the day after expiry of the Term.
	 	 	 
	(b)	Second Option Term	(i)	In the event the Landlord’s leasehold estate in the Land under the Head Lease is extended, ten (10) years; and
	 	 	 	 
	 	 	(ii)	In the event the Landlord’s leasehold estate in the Land under the Head Lease is not extended, such period equivalent to the remainder of the Landlord’s leasehold estate in the Land, less one day or such other term as may be agreed between the Landlord and the Tenant,
	 	 	 
	 	 	commencing on the day after expiry of the First Option Term.

 

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(collectively,
the "Option to Renew").

 

Terms
of the Renewed Leases

 

The
lease for each Option Term shall contain the same terms and conditions as this Agreement save
for the provisions in this Agreement in relation to the Partial Surrender Rights (Clause 9.17) and Reserved Premises Option (Clause
9.18A) which shall be omitted for both the First Option Term and the Second Option Term, and the following: :

 

		(a)	this Clause 9.14, which shall be
incorporated in the lease relating to the First Option Term, with the necessary variations or modifications made thereto, to set
out the option granted to the Tenant for the Second Option Term; 

 

		(b)	this Clause 9.14, which shall be
omitted entirely from the lease relating to the Second Option Term; 

 

		(c)	the Rent and Service Charge in respect
of the Premises which shall be revised and determined in the manner provided in the Sixth Schedule hereto;
and

 

		(d)	in its application
to the First Option Term, the provisions of Clause 9.16 shall apply, save that the period of seventy-two (72) months therein shall
be varied to sixty (60) months and in its application to the Second Option Term, the provisions of Clause 9.16 shall apply, save
that the period of seventy-two (72) months therein shall be varied to sixty (60) months.

 

Exercise
of Option to Renew 

 

To
exercise its Option to Renew in respect of the First Option Term or the Second Option Term (as the case may be), the Tenant shall
give written notice to the Landlord of its intention to exercise such Option to Renew, such notice to be given not less than eighteen
(18) months prior to expiration of the Tenant’s lease agreement then in force Provided Always that:

 

		(a)	the Option to Renew for the First
Option Term shall be in respect of (i) the area of [166,200] square feet of NLA let to the Tenant at the Lease Commencement Date
(the "Initial Premises") or (ii) all premises
then leased by the Tenant when such notice to renew is given to the Landlord (the "FOT Premises"),
which includes the Premises, the RFR Premises (if any), the Reserved Premises (if any) and excluding any Surrender Premises (as
the case may be);

 

		(b)	the Tenant shall have taken a lease
of an area of not less than [219,659] square feet of the net lettable area of the Building by the last day of the 81st
month from the Lease Commencement Date , before the Tenant may exercise the right to lease the Year 10 Premises; and

 

		(c)	the Option to Renew for the Second
Option Term shall be in respect of all premises then leased by the Tenant when such notice to renew is given to the Landlord (the
"SOT Premises"), which includes the Premises,
the RFR Premises, the Reserved Premises and excluding any Surrender Premises (as the case may be).

 

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		9.15	Offer to Purchase

 

Subject to
JTC's right of first refusal pursuant to Clause 6.3(a) of the JTC Letter of Offer, after the expiry of three (3) years from the
Lease Commencement Date and provided that the Tenant occupies at least [166,200] square feet of the net lettable area of the Building:

 

		(a)	The Tenant may approach the Landlord to offer to purchase the Property subject to terms and conditions
to be agreed between the Landlord and the Tenant at the point of offer (the "Offer to Purchase").

 

		(b)	In the event that the Landlord wishes to sell the Property or receives from a third party any offer
to purchase the Property which the Landlord intends to accept, the Landlord shall issue a written notice to the Tenant to that
effect, and in the latter case, setting out material details
of the offer. If the Tenant notifies the Landlord that it does not wish to purchase the Property within fourteen (14) days or such
other period as may be mutually agreed by the Landlord and the Tenant) from the date of the Tenant’s receipt of the written
notice or if the Tenant does not enter into a binding commitment for the purchase of the Property within fourteen (14) days or
such other period as may be mutually agreed by the Landlord and the Tenant from the date of the Tenant's receipt of the written
notice, the Landlord shall be entitled to dispose of its interest in the Property to a third party on substantially the same terms
and conditions as those offered to the Tenant. If completion of the disposal of the Property does not occur within eighteen (18)
months from the date of the Landlord’s written notice referred to in this Clause 9.15(b), any proposal to dispose of the
Property or to accept any offer to purchase in respect of the same after the aforesaid eighteen (18) month period shall then remain
subject to the right of first refusal under this Clause 9.15(b).

 

		(c)	Clause 9.15 is personal to the Landlord and the Tenant and save for assignees which are the Tenant's
related corporations, will not enure to the benefit of any other party having or acquiring an interest in the Premises from the
Tenant, including the permitted assignees or Sub-Tenant of the Tenant.

 

		9.16	Option to Terminate

 

The Tenant
shall have the right to terminate the Lease Agreement after the expiry of seventy-two (72) months from the Lease Commencement Date
without being liable for any penalty, fee (save for any administration fee payable) or compensation whatsoever, by serving on the
Landlord not less than twelve (12) months’ prior written notice of its intention to terminate, such notice not to be served
before seventy-two (72) months from the Lease Commencement Date, with the intention that the effective date of termination would
fall after the expiry of eighty-four (84) months from the Lease Commencement Date (the "Option to Terminate").

 

		9.17	Partial Surrender Rights

 

		(a)	Subject to JTC’s consent and to JTC’s conditions (if any) imposed in respect of such
partial surrender, the Tenant shall, after the expiry of forty-eight (48) months from the Lease Commencement Date, have the option
to surrender from time to time such premises leased by it under or pursuant to this Agreement (including, where applicable, the
RFR Premises and the Reserved Premises) so long as it continues to occupy at least [166,200] square feet of the net lettable
area of the Building after each surrender without being liable for any penalty, fee (save for any administration fee payable) or
compensation whatsoever to the Landlord (the "Partial Surrender Rights") Provided that such partial surrender
of the Premises shall be on the following terms and conditions:

 

    	35

    	 

    

 

		(i)	the Tenant shall give the Landlord not less than twelve (12) months’ prior written notice
of its intention to surrender, such notice not to be served before the expiry of forty-eight (48) months from the Lease Commencement
Date, with the intent that the effective date of surrender would fall after the expiry of sixty (60) months from the Lease Commencement
Date;

 

		(ii)	the size, location, configuration and layout of the part of the Premises to be surrendered shall
be subject to the Landlord’s approval and to the surrendered space being contiguous and deemed marketable by the Landlord
for leasing to any other party at the time of its surrender and which has reasonable access to Common Facilities and over the Common
Areas;

 

		(iii)	the Tenant shall bear the costs of (a) any necessary reconfiguration to create new access ways,
corridors, partitions and party walls resulting from such surrender and (b) the preparation and finalisation of all necessary surrender
documents to effect the surrender (excluding the Landlord’s legal fees) and stamp duty payable thereon (if any);

 

		(iv)	with effect from (and including)
the first partial surrender of the relevant Surrender Premises, the term "Premises"
wherever it appears in this Lease Agreement shall refer (where the context so admits) to the Balance Premises remaining after each
instance of surrender by the Tenant of part of the Premises;

 

		(v)	the Tenant shall pay:

 

		(i)	the monthly rent for the Balance Premises on the net lettable floor area of the Balance Premises
calculated at the rate of Rent then applicable; and

 

		(ii)	the monthly service charge for the Balance Premises on the net lettable floor area of the Balance
Premises calculated at the rate of Service Charge then applicable; and

 

		(vi)	the amount of security deposit held
under this Agreement shall be adjusted (each an "Adjusted Security Deposit Amount")
to an amount equivalent to ten (10) months’ of the monthly rent and service charge for the Balance Premises. Within thirty
(30) days after the effective date of surrender of the Surrender Premises, the Landlord shall return to the Tenant the bank guarantee(s)
held by the Landlord in exchange for a bank guarantee for an amount equivalent to the Adjusted Security Deposit Amount.

 

		(b)	Subject to Clause 9.19B, the Landlord may lease the Surrender Premises to any third party. For
the purpose of this Clause (q),

 

"Balance
Premises" means the premises in the Building remaining leased
by the Tenant at the relevant time after each surrender of the Surrender Premises; and 

 

"Surrender
Premises" means
the relevant premises (where applicable) in the Building surrendered by the Tenant to the Landlord from time to time pursuant to
this Clause 9.17.

 

    	36

    	 

    

 

		9.18	Right of First Refusal

 

		(a)	For the purposes of this Clause, the following words have the following meanings:

 

		(i)	"RFR Premises" means the space available for rent in the Building
from time to time (including for the avoidance of doubt, any Surrender Premises
which is available for rent after eighteen (18) months from
the date of surrender of the relevant premises);

 

		(ii)	"Landlord’s Offer" means the offer made by the Landlord to the Tenant
for lease of the RFR Premises at the prevailing market rent but otherwise on the same terms and conditions as are contained in
this Agreement ; and

 

		(iii)	"Tenant’s Notice" means the notice given by the Tenant to the Landlord
accepting the Landlord’s Offer.

 

		(b)	Subject as provided in this Clause, after the expiry of eighteen (18) months from the Lease Commencement
Date, if the RFR Premises becomes available for lease for a term during the Term, the Landlord shall and for as long as the Tenant
is occupying at least [166,200] square feet of the net lettable area of the Building, give the Landlord’s Offer to the Tenant
first before the Landlord can offer that RFR Premises for lease to any other party (the "Right of First Refusal").
The Landlord’s offer shall be for a lease of the RFR Premises then available, at a rent and service charge which are the
prevailing market rates for the RFR Premises but otherwise on the same terms and conditions as contained in this Agreement. If
the Tenant:

 

		(i)	wishes to lease the whole of that RFR Premises (and not part of it), the Tenant must give the Tenant’s
Notice to the Landlord within fourteen (14) days (time being of the essence) from the date of the Landlord’s Offer; or

 

		(ii)	does not give the Tenant’s Notice to the Landlord before expiry of the fourteen (14) day
period referred to in Clause 9.18(b)(i) then the Tenant shall in such instance be deemed to have rejected the Landlord’s
Offerfor lease of the whole of that RFR Premises (and not part of it) and the Tenant’s rights under this Clause 9.18(b)(ii)
will not be exercisable by the Tenant for a period of twelve (12) months from the date of that Landlord's Offer. The Landlord may
then offer to lease the whole or any part of that RFR Premises to any other party at a rent and on terms determined by the Landlord
and shall be under no further obligation to offer to lease the RFR Premises (or any part thereof) to the Tenant until after the
expiry of twelve (12) months from the date of that Landlord's Offer if the RFR Premises (or any part thereof) remain available
for lease.

 

		(c)	The Landlord is entitled to give first priority to any existing tenant of the RFR Premises to extend
or renew its lease over such relevant RFR Premises leased from the Landlord pursuant to an option to renew whether
granted to such tenant at the commencement of its term or upon a renewal
of that term.

 

		(d)	The right to lease the RFR Premises will absolutely lapse and will not be exercisable by the Tenant
during the Term if the Tenant occupies less than [166,200] square feet of the the net lettable area of the Building.

 

		(e)	If the Tenant has fully complied with the provisions of this Clause,
the Landlord must grant and the Tenant must accept a lease of the RFR Premises on the terms set out in the Landlord’s Offer.

 

    	37

    	 

    

 

		(f)	The lease document for the RFR Premises will be prepared by the Landlord
at the Tenant’s cost and must be signed by the Tenant within fourteen (14) days of receipt.

 

		9.18A	Reserved Premises Option

 

		(a)	For the purposes of this Clause, the following words have the following meanings:

 

		(i)	"Reserved Premises 1" means such rentable
space at the first storey of the Building with an area of approximately [10,764] square feet as reserved by the Landlord within
the area shown delineated in red in the plans attached as Appendix 8 

 

		(ii)	"Reserved Premises 2" means such rentable
space at the fourth storey of the Building with an approximate area of [43,056] square feet as reserved by the Landlord, within
the area shown delineated in pink in the plan attached
as Appendix 8;

 

		(iii)	"Reserved Premises" means both Reserved
Premises 1 and Reserved Premises 2 or either one of Reserved Premises 1 or Reserved Premises 2, as the case may be;

 

		(iv)	"Landlord’s Reserved Premises
1 Offer" means the offer by the Landlord to the Tenant of the lease of the Year
7 Premises at prevailing market rent but otherwise on the same terms and conditions as are contained in this Agreement
; and

 

		(v)	"Tenant’s Reserved Premises 1
Notice" means the notice given by the Tenant to the Landlord accepting the Landlord’s Reserved Premises
1 Offer for the Year 7 Premises.

 

		(iv)	"Landlord’s Reserved Premises
2 Offer" means the offer by the Landlord to the Tenant of the lease of the
Year 10 Reserved Premises at prevailing market rent but otherwise on the same terms and conditions as are contained in this Agreement;

 

		(vi)	"Tenant’s
Reserved Premises 2 Notice" means the notice given by the Tenant to the Landlord
accepting the Landlord’s Reserved Premises 2 Offer for the Year 10 Premises.

 

		(vii)	"RP1
Acceptance Deadline" means the last day of the 66th month from
the Lease Commencement Date;

 

		(viii)	"Reserved
Premises 1 Notification Deadline" means the last day of the 60th
month from the Lease Commencement Date;

 

		(ix)	"Reserved
Premises 2 Notification Period " means the period commencing from the last
day of the 84th month from the Lease Commencement Date and expiring on the last day of the 96th month from
the Lease Commencement Date;

 

		(v)	"RP2 Acceptance Deadline"
means the last day of the 102nd month from the Lease Commencement Date;

 

    	38

    	 

    

 

		(x)	"Year 7 Premises Commencement Period"
means the period commencing on the first day of the 70th month from the Lease Commencement Date, and expiring on the
first day of the 82nd month from the Lease Commencement Date;

 

		(xi)	“Year 10 Premises”
means the balance of the [32,292] square feet of the Reserved Premises 2 as shown in the plan attached as Appendix 8 and not let
to the Tenant as part of the Year 7 Premises

 

		(xii)	"Year 10 Premises
Commencement Period" means the period commencing on the first day of the
106th month from the Lease Commencement Date and expiring on the first day of the 118th month from the Lease
Commencement Date.

 

		(b)	In consideration of the payment by the Tenant to the Landlord of a fee of S$[250,000.00] ("Reserved
Premises Option Fee") to be made at the same time as the payment of the Deposit under Clause 3.1, the Landlord hereby
reserves for the Tenant the Reserved Premises on the following terms and conditions ("Reserved Premises Option").

 

		(c)	Subject to the Tenant occupying
[166,200] square feet or more of the the net lettable area of the Building of the Building, the
Landlord shall:

 

		(i)	notify the Tenant, no later than
the Reserved Premises 1 Notification Deadline of the availability of
the Reserved Premises 1 and part of the Reserved Premises 2 (such area on
the first storey and selected area on the fourth storey
of the Building (as selected by the Landlord) hereinafter referred
to as the "Year 7 Premises"), The Year 7 Premises
shall be of an aggregate area of 21,528 square feet, (subject to an adjustment by the Landlord upwards or downwards of the
aforesaid area on the fourth storey of the Building by 2,153 square feet); and

 

		(ii)	offer to the Tenant for lease at prevailing
market rent but otherwise on the same terms and conditions as are contained in this Agreement, such Year 7 Premises as aforesaid
(the "Landlord’s Reserved Premises 1 Offer"), for
a term commencing on a date which falls within the Year 7 Premises
Commencement Period and expiring on the same date as the Term.
Such offer shall be in respect of the whole and not part of the Year 7 Premises.

 

		(d)	If the Tenant wishes to accept
the Landlord’s Reserved Premises 1 Offer,
the Tenant must give the Tenant’s Reserved Premises 1 Notice
to the Landlord no later than the RP1 Acceptance Deadline (time
being of the essence); If the Tenant does not give the Tenant’s Reserved Premises 1
Notice to the Landlord by the RP1 Acceptance Deadline,
the Tenant’s right to lease the Year 7 Premises under the Reserved Premises
1 Option will absolutely lapse with respect to the whole of the Reserved Premises 1 and Reserved Premises 2 (and not part
of it) and will not be exercisable by the Tenant during the remainder of the Term, save that the Tenant’s right of first
refusal under Clause 9.18 over the Reserved Premises 1 and Reserved Premises 2 throughout the Term shall not be affected in any
way and Clause 9.18 shall apply mutatis mutandis to this right of first refusal. The Landlord may then offer to lease the
whole or any part of the Reserved Premises 1 and Reserved Premises 2 to any other party at a rent and on terms determined by the
Landlord and shall be under no further obligation to offer to lease the Reserved Premises 2 (or any part thereof) to the Tenant
by the Reserved Premises 2 Notification Deadline without prejudice
however to the Tenant’s right of first refusal over the Reserved Premises 1 and the Reserved Premises 2 should the Reserved
Premises 1 and/or the Reserved Premises 2 become subsequently available for lease during the remainder of the Term.

 

    	39

    	 

    

 

		(e)	If the Tenant’s Reserved Premises 1
Notice is given to the Landlord by the RP1 Acceptance Deadline
as referred to in Clause 9.18A(d), the Landlord shall grant and the Tenant shall accept a lease of the Year 7 Premises on
the terms set out in the Landlord’s Reserved Premises 1 Offer
and the lease document will be prepared by the Landlord at the Tenant’s cost and must be signed within fourteen (14) days
of receipt.

 

		(f)	Subject to:

 

		(i)	the Tenant having served its notice under Clause 9.14 to exercise its Option to Renew the Term
for the First Option Term; and

 

		(ii)	the Year 7 Premises not having been surrendered at any time prior to the expiry of the Term,

 

the Landlord
will notify the Tenant, within the Reserved Premises 2 Notification
Period of the availability of the Year 10 Premises (which shall be contiguous to the part of the Year 7 Premises on the
fourth storey of the Building leased to the Tenant) and so long as the Tenant occupies [217,506 ] square feet of the net lettable
area of the Building at that time, offer to the Tenant for lease the Year 10 Premises at
the prevailing market rent but otherwise on the same terms and conditions as are contained in this Agreement, for a term
commencing on a date which falls within the Year 10 Premises Commencement
Period and expiring on the same date as the First Option Term.

 

		(g)	If the Tenant wishes to accept
the Landlord’s Reserved Premises 2
Offer, the Tenant must give the Tenant’s Reserved Premises 2
Notice to the Landlord no later than the RP2 Acceptance Deadline
(time being of the essence). If the Tenant does not give the Tenant’s Reserved Premises 2
Notice to the Landlord by the RP2 Acceptance Deadline,
the Tenant’s right to lease the Year 10 Premises under the Reserved Premises Option will absolutely lapse with respect to
the whole of the Reserved Premises 2 (or the balance thereof not let to the Tenant as part of the Year 7 Premises, as the case
may be ) and will not be exercisable by the Tenant during the remainder of the Term save that the Tenant’s right of first
refusal under Clause 9.18 over the Reserved Premises 2 throughout the Term shall not be affected in any way and Clause 9.18 shall
apply mutatis mutandis to this right of first refusal. The Landlord may then offer to lease the whole or any part of the
Reserved Premises 2 to any other party at a rent and on terms determined by the Landlord without prejudice to the Tenant’s
right of first refusal for the Reserved Premises 2 should the Reserved Premises 2 become subsequently available for lease during
the remainder of the Term.

 

		(h)	If the Tenant’s Reserved Premises 2
Notice is given to the Landlord by the RP2 Acceptance Deadline,
the Landlord shall grant and the Tenant shall accept a lease of the Year 10 Premises or such part thereof on the terms set out
in the Landlord’s Reserved Premises 2 Offer and the lease
document will be prepared by the Landlord at the Tenant’s cost and must be signed within fourteen (14) days of receipt.

 

		(i)	For the avoidance of doubt, (i) this Clause 9.18A shall apply only to the Term and shall not apply
to the First Option Term or the Second Option Term; and (ii) the availability of the Reserved Premises is subject to such Reserved
Premises or any part thereof not having been already leased by the Tenant pursuant to its rights under Clause 9.18.

 

    	40

    	 

    

 

		9.18B	Prohibition Regarding Prohibited Parties

 

		9.18B.1	The Landlord hereby undertakes that for as long as the
Tenant occupies at least [166,200] square feet of the net lettable area of the Building, it will not:

 

		(a)	grant any lease, licence or other occupation rights in respect of any part of the Building or any
part of the Land to a Prohibited Party;

 

		(b)	grant or permit any signages bearing the name or logo of any Prohibited Party to be located on
any part of the Building or at any part of the Land; and

 

		(c)	allow any part of the Building or any part of the Land, to be sub-leased, sub-licensed or occupied
by any Prohibited Party; or

 

		(d)	sell, assign or otherwise dispose of the Property or any part thereof, to a Prohibited Party.

 

		9.18B.2	The right in this Clause is personal to the Tenant and
(save for assignees which are the Tenant's related corporations (as defined in the Companies Act, cap 50 of Singapore) will not
enure to the benefit of any other party having or acquiring an interest in the Premises from the Tenant including a permitted
assignee or Sub-Tenant of the Tenant. Provided Always that the prohibitions set out in Clause 9.18B.1 above shall not apply to
any occupier who is already occupying space or any party who has accepted an offer to lease space prior to such occupier or party
being notified by the Tenant to the Landlord as being a Prohibited Party in accordance with Appendix 3.

 

		9.18B.3	The Landlord hereby undertakes that it shall take such
appropriate steps against any occupier of the Other Premises to restrain such occupier from engaging in any activity that is pollutive
or hazardous, or emits noise, vibration or smell, in each case, excessively.

 

		9.19	Termination

 

		(a)	Notwithstanding the other provisions of this Letter, if the Landlord intends to redevelop, retrofit,
or upgrade the Building, the Landlord shall be entitled to determine this Lease by giving to the Tenant not less than twenty-four
(24) months' notice in writing to the Tenant to that effect, and upon the expiry of such notice, the Term shall absolutely cease
and determine and the Tenant shall (if still in occupation) vacate the Premises without compensation from or any claim whatsoever
against the Landlord but such termination shall be without prejudice to any right of action of either Party against the other in
respect of any antecedent breach of the Lease. Provided always that during the Term such notice shall not be served before the
expiry of ten (10) years of the Term or in the event of a renewal of this Agreement pursuant to Clause 9.14, before the expiry
of five (5) years of the First Option Term.

 

		(b)	Notwithstanding the other provisions of this Lease, if
any notice, order or gazette notification of intended acquisition or of acquisition is issued, made or served by the Government
or any competent authority acquiring or intending to acquirethe Property, or such part thereof:

 

		(i)	such that the Property is rendered substantially unfit for the Tenant’s use or occupation,
or

 

		(ii)	such that access to the Property is adversely affected,

 

    	41

    	 

    

 

the Landlord shall be entitled
to determine the Term herein by giving a notice in writing to the Tenant to that effect and on the date of termination of this
Lease as specified in the said notice, the Term shall absolutely cease and determine provided always that such date shall not be
earlier than the earliest of:

 

		(A)	the date the Landlord is required to deliver possession of the Property to the acquiring authority
or JTC;

 

		(B)	the date of termination of the Head Lease; or

 

		(C)	such other relevant date as may be imposed by the acquiring authority or JTC;

 

and provided further that the
Tenant shall vacate the Premises earlier, if required, to facilitate compliance with the terms of the relevant notice issued pursuant
to the provisions of the Land Acquisition Act (Chapter 152 of Singapore) for the taking of possession by the competent authority
but no reinstatement works are required to be carried out by the Tenant unless such reinstatement of the Premises is required to
enable the Landlord to comply with its obligations or any requirements of the competent authority prior to the taking of possession
of the Premises by the competent authority.

 

		9.19A	Termination of Head lease

 

If
the Head Lease is terminated for any reason whatsoever, then upon such termination and without prejudice to the other terms of
this Lease, the Term shall absolutely cease and terminate without prejudice to any rights and remedies of either party for any
antecedent breach of the terms of this Lease by the other party, and where termination of the Head Lease does not arise from or
in connection with any wilful default or gross negligence of the Landlord, the Landlord shall not be liable for any inconvenience,
loss, damage, compensation, costs or expenses whatsoever due to the termination of the Head Lease and the subsequent termination
of this Lease.

 

		9.20	Landlord's Right to Assign

 

		(a)	Subject to Clause 9.18B and subject
further to the Tenant’s rights under Clause 9.15, in the event of a sale, transfer or disposal of the Property, the
Landlord shall be entitled to assign all its rights, interest and title under this Agreement.

 

		(b)	The Tenant hereby expressly acknowledges and undertakes to the Landlord that where the Landlord,
in the event of a sale, transfer or disposal of the Property, assigns its rights and interest in under or arising out of this Lease
(including the transfer of the Deposit), then subject to the transferee having undertaken in writing to the Tenant to be bound
by all the terms, covenants, stipulations and conditions of this Agreement on the part of the Landlord to be observed, performed
and complied with (excluding Clause 9.15 and including but not limited to, the obligation to refund the Deposit and any other sums
under this Agreement to the Tenant in accordance with the provisions of this Agreement), and
subject further to Clause 9.18B and the Tenant’s rights under Clause 9.15, the Tenant shall be deemed to have consented
to such assignment and shall accept any transferee of the Landlord as its new landlord and shall release the Landlord from all
its obligations under the provisions of this Lease and in particular the obligation of the Landlord to refund the Deposit and any
other sums pursuant to this Lease. Where required by the Landlord, the Tenant shall enter into and execute any novation agreement
entered into or to be entered into by the Landlord and its transferee, such agreement to contain the usual terms found in novation
agreements and to be prepared by and at the expense of the Landlord.

 

    	42

    	 

    

 

		9.21	Taxes

 

		(a)	The rent and other sums payable by the Tenant under this Agreement (hereinafter collectively called
"the Agreed Sum") shall, as between the Landlord and the Tenant, be exclusive of any applicable goods and
services tax, imposition, duty and levy whatsoever (hereinafter collectively called "Taxes") which may
from time to time be imposed or charged before, on or after the commencement of the Term (including any subsequent revisions thereto)
by any government, quasi-government, statutory or tax authority on or calculated by reference to the amount of the Agreed Sum (or
any part thereof) and the Tenant shall pay all such Taxes reimburse the Landlord for the payment of such Taxes, as the case may
be, in such manner and within such period as to comply or enable the Landlord to comply with any applicable orders or directives
of such authorities and the relevant laws and regulations.

 

		(b)	The rights of the Landlord under this Clause shall be in addition and without prejudice to any
other rights or powers of the Landlord under any applicable order or directive of the Authorities or any relevant law or regulation,
to recover from the Tenant the amount of such Taxes which may be or is to be paid or borne by the Landlord.

 

		(c)	The Tenant shall indemnify and hold harmless the Landlord from any losses, damages, claims, demands,
proceedings, actions, costs, expenses, interests and penalties suffered or incurred by the landlord arising from any claim, demand,
proceeding or action that may be made or instituted by the Authorities in respect of such Taxes and resulting from any failure
or delay on the part of the Tenant in the payment and discharge of any such Taxes.

 

		(d)	Without prejudice to Clause 9.21(a), the Tenant shall not be liable for any income tax that may
be levied or imposed on the income of the Landlord

 

		9.22	No warranty

 

The
Tenant shall accept the Premises "as is where is" on the date on which the Premises are made available to it. Save and
except that the Premises are as at the date of this Agreement approved by JTC for the Permitted Use as set out in the JTC Letter
of Offer, the Landlord does not expressly or impliedly warrant that the Premises are now or will remain suitable or adequate for
all or any of the purposes of the Tenant and warranties (if any) as to the suitability or adequacy of the Premises implied by law
are hereby expressly negated.

 

		9.23	Payments

 

Any
and all payments made or sent to the Landlord may be applied and/or appropriated by the Landlord in any order or manner as the
Landlord shall in its absolute discretion deem fit notwithstanding any specific appropriation instructions or conditions imposed
by the Tenant or any other person making payment on behalf of the Tenant. The Landlord shall not be bound by any appropriation
instructions or conditions imposed by the Tenant by virtue of the Landlord's acceptance of any payment tendered by or on behalf
of the Tenant.

 

		9.24	Severability

 

If
anyone or more of the provisions contained in this Lease shall be deemed invalid, unlawful or unenforceable in any respect under
any applicable law, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way
be affected or impaired.

 

    	43

    	 

    

 

		9.25	Waiver

 

		(a)	No waiver whether express implied or due to an oversight by the Landlord of a breach default or
non-observance or non- performance of provisions in this Lease contained or implied shall operate as a waiver of any continuing
or subsequent breach of the same or of any other covenant obligation or provision in this Lease contained or implied nor shall
it operate in any manner so as to defeat or affect in any way the rights of the Landlord in respect of any such continuing or subsequent
breach default or non-observance or non-performance.

 

		(b)	Any time or other indulgence granted by the Landlord's rights under this Lease shall be without
prejudice to and shall not be taken as a waiver of any of the Landlord's rights under this Lease nor shall it prejudice or in any
way limit or affect any statutory rights powers and remedies from time to time vested in or exercisable by the Landlord.

 

		(c)	Any consent given by the Landlord shall operate as a consent only for the particular matter to
which it relates and shall in no way operate as a waiver or release of any of the provisions hereof, nor shall it be construed
as dispensing with the necessity of obtaining the specific written consent of the Landlord in future, unless expressly so extended.

 

		9.26	Consents and Approvals

 

In
any case where the Landlord's consent or approval is required, such consent or approval shall be obtained before the act or event
to which it applies is carried out or occurs and shall be effective only when the consent or approval is given in writing. Such
consent or approval may be withheld or given at the Landlord's absolute discretion or given subject to such terms and conditions
as the Landlord deems fit.

 

		9.27	Notices

 

Any
notice under this Lease shall be in writing. Any notice to be given hereunder shall be served on the Landlord by delivering the
same personally or by sending it through prepaid registered post addressed to the Landlord at its registered office aforesaid or
at such other address as the Landlord may from time to time notify the Tenant in writing and any notice to be served on the Tenant
shall be sufficiently served if served personally or if forwarded by prepaid registered post to the Premises or at such other address
as the Tenant may from time to time notify the Landlord in writing and any notice sent by post shall be deemed to be given at the
time when in due course of post it would be delivered at the address to which it is sent.

 

		9.28	Governing law

 

The
validity, construction, interpretation and enforcement of this Lease and any document or agreement contemplated herein and all
rights, remedies, powers, obligations and liabilities hereunder shall be governed by the laws of the Republic of Singapore and
the parties hereto agree to submit to the nonexclusive jurisdiction of the courts of Singapore.

 

		9.29	Entire agreement

 

The
Agreement to Develop and Lease sets forth the entire and only agreement and understanding between the parties hereto and this Agreement
and no purported variation or amendment shall be effective unless made in writing with the mutual express consent of the parties
hereto. The parties hereto declare that no further or other covenants agreements provisions or terms whether in respect of the
Premises or the Building or the other tenants thereof or otherwise shall be deemed to be implied herein or to arise between the
Parties by way of collateral or other agreement by reason of any promise representation warranty or undertaking given or made by
either party hereto and the existence of any such implication or collateral to the other on or prior to the execution hereof or
other agreement is hereby made invalid.

 

    	44

    	 

    

 

		9.30	Lease Agreement to Prevail

 

All
provisions of the Agreement to Develop and Lease shall continue to bind the Parties as though they are expressly incorporated into
this Agreement so long as they are still relevant and to be observed and performed and are not repeated or inconsistent with the
provisions of this Agreement. If there shall be any inconsistency between the provisions of this Agreement and the provisions of
the Agreement to Develop and Lease, then the provisions of this Agreement shall prevail.

 

		9.31	Confidentiality of Information

 

Both Parties
agree to hold all the terms and conditions of this Agreement in strict confidence and not to disclose the same to any party except
to each Party's respective shareholders, officers and employees who are directly involved in this Agreement. Notwithstanding the
aforesaid, the confidentiality obligations shall not apply to:

 

		(a)	any information which is already generally known to the public and which is not released to the
public domain in breach of either Party's confidentiality obligations hereunder;

 

		(b)	any information which is required to be disclosed pursuant to any applicable laws or to any Authorities
or pursuant to rules or regulations of any relevant regulatory, administrative or supervisory body (including without limitation,
any relevant stock exchange or securities council) including in the event of a public listing of securities within the meaning
of the Securities and Futures Act (Chapter 289 of Singapore) affecting the Premises, any information where such disclosure is required
by the prevailing listing rules, a regulatory authority or stock exchange or as part of a due diligence exercise;

 

		(c)	any information which is required to be disclosed by law or pursuant to any legal process issued
by any court of law or tribunal in Singapore and any disclosure to a court of law, arbitrator, tribunal or mediator in connection
with any legal proceedings, arbitration or mediation shall be deemed to be disclosure required by law;

 

		(d)	any information disclosed by either of the Parties to their respective bankers, financial advisors,
auditors, consultants, Main Contractor, licensed valuers and legal or other advisors;

 

		(e)	any information which is required to be disclosed to the holding company of either Party and either
Party's branches or offices or related corporations (as defined in the Companies Act (Chapter 50 of Singapore);

 

		(f)	(in respect of either Party's confidentiality obligation) any information which is required to
be disclosed to any actual or potential purchaser or transferee of the Building or any part thereof, any actual or potential assignee
of either Party, any actual or potential investor, mortgagee, chargee, financial adviser, consultant, valuer, manager, trustee,
legal or other advisers in either Party or the Building or any part thereof (collectively, "Interested Parties"),
or to any actual or potential banker, mortgagee, chargee, financial advisor, consultant, valuer, manager, trustee, legal or other
advisers of any of the Interested Parties, and in connection with such disclosure, either Party is entitled to include any such
information in any document which is publicly available;

 

    	45

    	 

    

 

		(g)	any information which either Party has consented in writing to its disclosure by the other Party;
and

 

		(h)	any information disclosed to potential tenants in the Building, for the purposes
of evidencing the Landlord’s obligations under this Agreement
when marketing the premises in the Building.

 

		9.32	Contracts (Rights of Third Parties) Act

 

A
person who is not a party to this Agreement shall have no rights under the Contracts (Rights of Third Parties) Act (Chapter 53B
of Singapore) to enforce any of their terms.

 

		9.33	Costs and Expenses

 

		(a)	The Parties shall bear their respective
legal costs, fees and disbursements incurred by in connection with the negotiation, preparation and completion of this Agreement
(in duplicate) and any other document relating to this Agreement.

 

		(b)	The Landlord shall pay or indemnify the Tenant (on a full
indemnity basis) against all legal costs and fees incurred by the Tenant in consulting solicitors in connection with the enforcement
of any material provision of this Agreement in the event that the Landlord acknowledges or does not dispute that it is in breach
of any material provision of this Agreement or is adjudged by a court, tribunal or arbitrator to be in breach of any material provision
of this Agreement.

 

		9.34	Acknowledgement by Parties

 

Capacity

 

Notwithstanding
any provision to the contrary in this Agreement, each of the parties to this Agreement acknowledges and agrees that the Landlord
has entered into this Agreement only in its capacity as trustee of Mapletree Industrial Trust and not in the Landlord’s personal
capacity and all references to the Landlord in this Agreement shall be construed accordingly. Accordingly, notwithstanding any
provision in this Agreement, the Landlord has assumed all obligations under this Agreement in its capacity as trustee of Mapletree
Industrial Trust and not in its personal capacity and any liability of or indemnity given by the Landlord under this Agreement
any power or right conferred on any receiver, attorney, agent and/or delegate is limited to the assets of Mapletree Industrial
Trust over which the Landlord has recourse and shall not extend to any personal or other assets of the Landlord or any assets held
by the Landlord as trustee of any trust (other than Mapletree Industrial Trust). Any obligation, matter, act, action or thing required
to be done, performed or undertaken by the Landlord under this Agreement shall only be in connection with matters relating to Mapletree
Industrial Trust (and shall not extend to the Landlord’s obligations in respect of any other trust or real estate investment
trust of which it is a trustee).

 

No
recourse

 

It
is hereby agreed that the Landlord’s obligations under this Agreement will be solely the corporate obligations of the Landlord
and there shall be no recourse against the shareholders, directors, officers or employees of the Landlord for any claims, losses,
damages, liabilities or other obligations whatsoever in connection with any of the transactions contemplated by the provisions
of this Agreement.

 

    	46

    	 

    

 

Legal
action or proceedings

 

For
the avoidance of doubt, any legal action or proceedings commenced against the Landlord whether in Singapore or elsewhere pursuant
to this Agreement shall be brought against the Landlord in its capacity as trustee of Mapletree Industrial Trust and not in its
personal capacity.

 

    	47

    	 

    

 

THE FIRST SCHEDULE
ABOVE REFERRED TO

 

All
that/those unit(s) containing an aggregate floor area of [198,134] square feet as which said unit(s) is/are known as [·]
and are more particularly delineated and edged red on the plan(s) annexed hereto and marked Appendix 7 for the purpose of
identification.

 

    	48

    	 

    

 

THE SECOND SCHEDULE
ABOVE REFERRED TO

 

The "rights" excepted and reserved
by the Landlord and all persons

authorised by the Landlord referred to in
Clause 2

 

		1.	Use of Conducting Media

 

The right to the free and uninterrupted
passage and running of water, sewerage, electricity, telephone and other services or supplies from and to other parts of the Building
in and through the Conducting Media which now or may during the Term be In, on, under or over the Premises.

 

		2.	Construction of Conducting Media

 

The right to construct or erect
in or under through or over the Premises or repair and maintain at any time during the Term any Conducting Media for the benefit
of any other part of the Building.

 

		3.	Access

 

The right at all reasonable times
and by prior appointment (save in cases of emergency) to enter and in cases of emergency to break into and enter the Premises:

 

		(a)	To examine the same and to make such alterations, improvements or additions as the Landlord may
deem necessary or desirable, and the Landlord shall be allowed to take all materials that may be required therefore into and upon
the Premises without the same constituting an eviction of the Tenant in whole or in part;

 

		(b)	To inspect, repair and/or test the mechanical, electrical, fire safety systems and other facilities
serving the Building, the Building or the Premises and to conduct any exercise or acts relating to the safety, protection, preservation
or improvement of the Building;

 

		(c)	To inspect, cleanse, connect, repair, remove, replace with others, alter or execute any works whatsoever
to or in connection with the Conducting Media easements or services referred to in paragraphs 1 and 2 of this Schedule;

 

		(d)	To view the state and condition of and repair and maintain the Premises and the Building or any
part thereof where such viewing or work would not otherwise be reasonably practicable;

 

		(e)	To carry out any work or do anything whatever comprised within the Landlord's obligations in law
or under this Lease;

 

		(f)	(if there is an Air Handling Unit ("A.H.U") room in the Premises) To gain
access to the A.H.U. room for the purpose of servicing or carrying out any repairs or works in the A.H.U. room but provided always
that in the event the Landlord shall require access after the Operating Hours in Singapore for such purposes, the Tenant shall
permit the same and the Landlord shall notify the Tenant immediately upon completion of such works but shall not be responsible
for the securing or locking of the Premises upon completion of the servicing and/or repairs or works in the A.H.U. room, and without
limiting the generality of Clause 9.7 of the Lease, the Landlord shall not be responsible for any damage to or loss of goods or
property (whether belonging to the Tenant or to others) or loss, damage or injury to the Premises howsoever caused or any consequential
loss therefrom;

 

    	49

    	 

    

 

		(g)	To take schedules or inventories of fixtures and other items to be yielded up on the expiry of
the Term;

 

		(h)	To construct, alter, maintain, repair or fix anything or additional thing serving the Building
or the adjoining premises or property of the Landlord, and running through or on the Premises;

 

		(i)	To exercise any of the rights granted to the Landlord by this Lease; and

 

		(j)	In connection with the development of the remainder of the Building or any adjoining or neighbouring
land or premises, including the right to build on or onto or in prolongation of any boundary wall of the Premises.

 

		4.	Scaffolding

 

The right to erect scaffolding
for the purpose of inspecting repairing or cleaning the Building or the Building notwithstanding such scaffolding may temporarily
restrict the access to or use and enjoyment of the Premises Provided that the Landlord shall use its best endeavours to ensure
that this does not materially affect the Tenant’s ability to use or access the Premises.

 

		5.	Light, Air, Support. etc.

 

The rights of light, air, support,
protection, shelter and all other easements and rights now or after the date of this Agreement belonging to or enjoyed by any parts
of the Building or the Building.

 

		6.	Changes to Building

 

Full right and liberty at any
time after the date of this Lease to alter, raise the height of or rebuild the Building excluding the Premises in such manner as
the Landlord shall think fit notwithstanding the fact that the same may obstruct, affect or interfere with the amenity of or access
to the Premises or the passage of light and air to the Premises. Provided that any works which the Landlord carries out under this
Clause shall not result in a breach of the Key Parameters, or any of them.

 

		7.	Prevention of Access

 

		(a)	Full right in the event of invasion, mob,
riot, public excitement or other circumstances rendering such action advisable in the Landlord's opinion to prevent access to the
Building including closing the entrances thereto during the continuance of the same and for so long and in such manner as the Landlord
deems necessary or appropriate.

 

		(b)	The right at all times to refuse access
to the Building or the Building or otherwise control such access in respect of any person whose presence in the Building or the
Building may in the opinion of the Landlord be prejudicial to the safety, character, reputation and interests of the Building,
its occupants or the Landlord.

 

		8.	Rights on Tenant's Default

 

On each and every occasion on
which the Tenant omits or neglects to do or effect anything which the Tenant is obliged by this Lease to do or effect, it shall
be lawful (but not obligatory upon the Landlord and without prejudice to any rights and powers arising from such default) for the
Landlord to do or effect such thing by its architects, contractors, workmen, servants, employees and agents as if the Landlord
or its architects, contractors, workmen, servants employees and agents may enter upon the Premises and there remain for the purpose
of doing or effecting any such thing and all costs and expense of carrying out such thing or works shall be payable by the Tenant
on demand.

 

    	50

    	 

    

 

THE THIRD SCHEDULE
ABOVE REFERRED TO

 

	S/No	 	Item	Particulars
	 	 	 	 
	1.	 	Agreement to Develop and Lease	Dated [·]
	 	 	 	 
	2.	 	Tenant	Kulicke & Soffa Pte. Ltd.
	 	 	 	 	 
	3.	 	Rent	[    ] per month calculated at the rate of S$1.27 per square foot per month on the NLA subject to a yearly rent escalation of two per cent (2%) per annum on the preceding year’s Rent.
	 	 	 	 
	4.	 	Service Charge	[    ] per month calculated at the rate of S$0.45 per square foot per month subject to a yearly service charge escalation of two per cent (2%) per annum on the preceding year’s Service Charge.
	 	 	 	 	 
	5.	 	Deposit	$3.42 million being the equivalent to the aggregate of ten (10) months' Rent and Service Charge. The Deposit is subject to increase in the event of an increase in the Rent and/or the Service Charge or in the event of adjustment of the Rent and Service Charge upon determination of the floor area as set out in the First Schedule, if applicable.
	 	 	 	 	 
	6.	 	Term	Ten (10) years commencing from [    ] and expiring on [    ].
	 	 	 	 	 
	7.	(A)	First Option Term	Ten (10) years commencing from the day falling immediately after the expiry of the Term at a revised rent and service charge to be determined in accordance with the Sixth Schedule.
	 	 	 	 	 
	 	(B)	Second Option Term	(i)	In the event the Landlord’s leasehold estate in the Land under the Head Lease is extended, ten (10) years; and
	 	 	 	 	 
	 	 	 	(ii)	In the event the Landlord’s leasehold estate in the Land under the Head Lease is not extended, such period equivalent to the remainder of the Landlord’s leasehold estate in the Land, less one day or such other term as may be agreed between the Landlord and the Tenant,
	 	 	 	 	 
	 	 	 	commencing on the day after expiry of the First Option Term at a revised rent and service charge to be determined in accordance with the Sixth Schedule.
	 	 	 	 	 
	8.	 	Rent Free Period	Three (3) months commencing from the Lease Commencement Date.
	 	 	 	 	 
	9.	 	Permitted Use	(a)	research, design and manufacturing of semiconductor, high precision equipment and assembly equipment only; and

 

    	51

    	 

    

 

	 	 	 	(b)	all other allowable uses that are approved by JTC and the other relevant Authorities and by the Landlord (such approval by the Landlord not to be unreasonably withheld).
	 	 	 	 	 
	10.	 	Maximum Floor Loading	20 kN/m2 (for 1st storey of the Building)
	 	 	 	2.5 kN/m2 (for 2nd storey carpark of the Building)
	 	 	 	15 kN/m2(from 3rd to 5th storeys of the Building)
	 	 	 	 	 
	11.	 	Public Liability Insurance	[S$5 million]
	 	 	 	 
	12.	 	Lift Services	Cargo lifts
	 	 	 	 	 
	 	 	 	(a)	One (1) of the two (2) cargo lifts designated for the Tenant's use and one (1) of the other two (2) cargo lifts for common use by all tenants of the Building shall operate for twenty-four (24) hours from Mondays to Sundays (gazetted public holidays included); and
	 	 	 	 	 
	 	 	 	(b)	The other cargo lift designated for the Tenant's use and the other common cargo lift shall operate from 6.00 a.m. to 12.00 midnight from Mondays to Sundays (gazetted public holidays included).
	 	 	 	 	 
	 	 	 	Passenger lifts
	 	 	 	 	 
	 	 	 	(a)	Two (2) passenger lifts located at the rear lobby shall operate for twenty-four (24) hours from Mondays to Sundays (gazetted public holidays included); and
	 	 	 	 	 
	 	 	 	(b)	Two (2) passenger lifts located at the front lobby shall operate from 6.00 a.m. to 12.00 midnight from Mondays to Fridays and from 6.00 a.m. to 1.00 p.m. on Saturdays (Sundays and gazetted public holidays excluded).
	 	 	 	 	 
	13.	 	Air-Conditioning	The Landlord shall provide air-conditioning services to the Tenant from 8.00 a.m. to 6.00 p.m. from Mondays to Fridays and from 8.00 a.m. to 1.00 p.m. on Saturdays (Sundays and gazetted public holidays excluded) at no extra charge to the Tenant.
	 	 	 	 	 
	 	 	 	Tenant shall pay for such air-conditioning services provided by the Landlord to the Premises at the rate of $0.0011per square foot per hour, subject to the air-conditioning services being provided by the Landlord for a minimum of 10 hours or such longer period as may be requested by the Tenant, outside of 8.00 a.m. to 6.00 p.m. in accordance with Clause 5.2 of this Agreement. The Landlord shall, acting reasonably, be entitled at any time and from time to time to revise these rates by giving to the Tenant at least one (1) week's written notice.

 

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THE FOURTH SCHEDULE
ABOVE REFERRED TO

 

For the purposes of this Fourth Schedule
only, reference to "Premises" shall mean the Initial Premises and any additional premises (if any) which may be let to
the Tenant from time to time.

 

		1.	FITTING-OUT

 

		1.1	Fitting-Out Period

 

The Landlord shall grant the
Tenant a licence to the Premises for the duration of the Fitting-Out Period for the sole purpose of carrying out the Tenant's Fitting-Out
Works during such times as shall be notified to the Tenant by the Landlord from time to time.

 

		1.2	Purpose

 

During the Fitting-Out Period,
the Tenant shall not without the prior written consent of the Landlord (which consent may be granted on such terms and conditions
as the Landlord deems fit in its absolute discretion) use the Premises for any purpose other than for the Tenant's Fitting-Out
Works.

 

		1.3	Rent and Service Charge during Fitting-Out Period

 

No Rent or Service Charge shall
be payable during the Fitting-Out Period provided that the Tenant complies with all the terms and conditions of this Lease. For
the avoidance of doubt, in the event that the Tenant obtains the Landlord's consent pursuant to Clause 1.2 of this Schedule to
commence business on the Premises during the Fitting-Out Period, the Tenant shall have to pay Rent or Service Charge during the
Fitting-Out Period. In the event that the Term is prematurely terminated by the Tenant for any reason whatsoever (save for a termination
pursuant to the Tenant’s rights under Clause 9.16) or this Lease is determined by the Landlord in consequence of the Tenant's
breach of any of the terms or conditions applicable to this Lease, then in addition and without prejudice to the other rights or
remedies of the Landlord, the Tenant shall compensate and pay to the Landlord, on demand, an amount equivalent to the Rent and
Service Charge that would have been payable for the entire Fitting-Out Period as if the Fitting-Out Period had constituted part
of the Term.

 

		1.4	No Lease

 

Notwithstanding the foregoing,
the Tenant's occupation of the Premises during the Fitting-Out Period does not operate as a lease and shall be by way of license
only. During the Fitting-Out Period, the Tenant does not have and is not entitled to any estate, right or interest in the Premises
either as completed or in the course of renovation or in any materials other than those materials deposited by the Tenant on the
Premises in connection with the Tenant's Fitting-Out Works and not yet utilised in the renovation.

 

		1.5	Terms and Conditions

 

The Tenant shall comply fully
with all provisions and stipulations set out in the Fourth Schedule.

 

		1.6	No delay in commencement of Term

 

No delay in carrying out or completing
all or any of the Tenant's Fitting-Out Works whether caused by any governmental and/or statutory authorities or by the Tenant's
consultants or contractors or otherwise howsoever shall be a ground for delaying the commencement of the Term and/or relieving
the Tenant from the performance and observance of the stipulations, covenants and conditions contained in this Lease and to be
observed and performed by the Tenant.

 

    	53

    	 

    

 

		1.7	Fitting-Out Plans

 

The Fitting-Out Plans shall comprise
all plans and designs relating to the renovation and fitting-out of the Premises including but not limited to:

 

		(a)	particulars of the type, quality, materials and specifications of all internal partitions to be
used in the Premises;

 

		(b)	all construction, furnishing, installation, improvements, equipment and fixtures within the Premises;
and

 

		(c)	all works relating to the interior of the Premises such as interior design and decorations, partitioning,
fittings, flooring, carpeting, carpentry, lighting and light fixtures, plumbing, ceilings and other interior finishes.

 

		1.8	Submissions

 

The Tenant shall at its own cost
and expense submit through the Landlord's Consultants all Fitting-Out Plans and other documents (if any) which are required to
be submitted to the Building and Construction Authority, Singapore and/or any other relevant authorities for their respective approvals.

 

		1.9	Landlord's expenses

 

All costs and expenses relating
to the preparation submission and approval of the Fitting-Out Plans and all of the Tenant's Fitting-Out Works and all architects,
engineers and other consultants' fees incurred in connection with the same including the Landlord's Consultants' reasonable fees
shall be borne solely by the Tenant and shall be payable on demand.

 

		2.	TENANT'S FITTING-OUT WORKS

 

		2.1	Approvals

 

The Tenant's Fitting-Out Works
shall be carried out by the Tenant in accordance with the Fitting-Out Plans approved by the Landlord and, where applicable, the
Landlord's Consultants. The approval of the Landlord and the Landlord’s Consultants shall not be unreasonably withheld. The
Tenant undertakes to obtain or procure all necessary governmental and statutory consents, permissions and approvals in respect
of the Tenant's Fitting-Out Works (the "Fitting-Out Consents") prior to the commencement of any such works
and to comply with all statutes and with the terms, conditions and requirements of all Fitting-Out Consents in the execution of
any fitting-out works.

 

		2.2	Conditions Precedent

 

The Tenant shall prior to the
commencement of the Tenant's Fitting-Out Works:

 

		(a)	effect and maintain, or procure the effecting and maintenance of, policies of insurance in such
form as the Landlord may specify with an insurance company approved by the Landlord (which approval shall not be unreasonably withheld)
to cover all risks and third party liability and/or such other risks as the Landlord may from time to time require and for such
sum as may be reasonably specified by the Landlord (having regard to industry practice and the extent and nature of the fitting
out works) in respect of any one occurrence covering the period between the date of commencement of the Fitting-Out Period and
the date of commencement of the Term and shall in all such policies name the Landlord and the Tenant's fitting-out contractor as
the co-insured parties for their respective interests;

 

    	54

    	 

    

 

		(b)	establish an account with the Utilities Provider for the supply of electricity and/or water to
the Premises to be separately metered for the account of the Tenant. Provided That the Landlord may in its absolute discretion
permit the Tenant to utilise during the Fitting-Out Period electricity and/or water supplies from a source other than the Tenant's
established account with the Utilities Provider as aforesaid, in which case the Tenant shall pay to the Landlord from time to time
such additional sums as the Landlord may determine as being the estimated fees for the use of such electricity and/or water. In
this regard, the Landlord's determination of the sum payable by the Tenant shall, in the absence of manifest error, be conclusive
and binding on the Tenant;

 

		(c)	deposit with the Landlord, an amount notified by the Landlord to the Tenant computed on the basis
of S$1.50 per square foot of the premises being fitted out subject to a minimum of S$2,000.00, as security for the due performance
and observance by the Tenant of the terms and conditions hereof and or the Tenant's compliance with the following:

 

		(i)	duly carrying out and completing the Tenant's Fitting-Out Works within the Fitting-Out Period;

 

		(ii)	paying on written demand the costs of rectifying all damage to the Premises, adjoining premises
and/or the Building caused by the Tenant, its employees, agents, contractors, sub-contractors or invitees;

 

		(iii)	keeping the Premises and the Building clean and tidy and on completion of the Tenant's Fitting-Out
Works removing therefrom all waste and debris to such location outside the Building as designated by the relevant authorities;

 

		(iv)	disposing of all waste and debris immediately after the Tenant's Fitting-Out Works;

 

		(v)	paying to the Landlord the fees for use of the electricity and water as provided in Clause 2.2(b)
of this Schedule.

 

		2.3	Refund of Fitting-Out Deposit

 

The cash deposit paid by the
Tenant under Clause 2.2(c) of this Schedule will be refunded to the Tenant without interest within thirty (30) days from the date
of completion of the Tenant's Fitting-Out Works to the satisfaction of the Landlord and submission of the "as-built"
drawings referred to in Clause 2.11 of this Schedule subject to any proper deductions which the Landlord may make. If the cash
deposit shall be insufficient to meet the Landlord's costs in the event of default by the Tenant in relation to any of the abovementioned
events hereof, the Tenant shall within fourteen (14) days of demand pay the Landlord the difference between such additional costs
and the cash deposit paid by the Tenant.

 

    	55

    	 

    

 

		2.4	Design and Supervision of Mechanical and Electrical Works

 

The Tenant shall appoint the
Landlord's mechanical and electrical consultants and engineers for the design and supervision of all mechanical and electrical
works being part of the Tenant's Fitting-Out Works in respect of the Premises Provided Always that such consultants and engineers
shall not in any way be deemed to be the agent or employee of the Landlord and the Landlord shall not in any way be liable nor
responsible for any act, omission, default, misconduct or negligence of such consultants or engineers.

 

		2.5	Sanitary and Plumbing Works, etc.

 

The Tenant's Fitting-Out Works
relating to sanitary and plumbing works, electrical works, air-conditioning and mechanical ventilation works and fire protection
works shall only be carried out by the Landlord's contractor under the supervision of the Landlord's Consultants but none of the
Landlord's Consultants (or anyone or more of them) shall be deemed to be the agent or

employee of the Landlord. Provided
Always that with the written approval of the Landlord, the Tenant can engage their contractor to carry out works other than the
aforesaid works to be carried out solely by the Landlord's contractor which said other works shall also be subject to the supervision
of the Landlord's Consultants.

 

		2.6	Costs

 

All costs incurred or to be incurred
in respect of Clause 2 of this Schedule including but not limited to the costs chargeable by the Landlord's Consultants shall be
borne solely by the Tenant. The Landlord shall furnish to the Tenant, an estimate of such costs, prior to appointment of the respective
consultants Provided Always that such estimate of costs is subject to further changes and negotiations and is non-binding on the
Landlord and/or the Landlord's Consultants.

 

		2.7	Landlord's Access

 

For the avoidance of doubt, it
is hereby declared that the Landlord, its servants and agents may at all times during the Fitting-Out Period enter the Premises
with prior notice for any of the following purposes:

 

		(a)	to ensure that works are carried out by the Tenant in accordance with the approved Fitting-Out
Plans; and

 

		(b)	for any other purpose which the Landlord shall deem fit.

 

		2.8	Non-compliance with plans

 

The Tenant shall, immediately
upon receiving written notice from the Landlord that any of the Tenant's Fitting-Out Works are not in accordance with the fitting-out
plans approved by the Landlord, take all necessary steps to forthwith rectify the same at the Tenant's costs and expense.

 

		2.9	Co-ordination

 

The Tenant, its contractors,
agents and/or servants in carrying out the Tenant's Fitting-Out Works shall co-ordinate their activities with and comply with the
instructions of the Landlord and/or the Landlord's Consultants, contractors, agents, employees and/or servants and shall be bound
by the terms set by the Landlord and in particular shall observe the time schedule agreed to between the Landlord and the Tenant
for the carrying out and completion of the Tenant's Fitting-Out Works. In relation to the various matters under this Clause, the
Landlord shall act reasonably.

 

    	56

    	 

    

 

		2.10	No hacking

 

The Tenant shall not, whether
in the course of the Tenant's Fitting-Out Works or as an ancillary thereto or at any time for any purpose whatsoever, execute or
permit to be executed any works involving the hacking of the structural columns, beams, and/or floors of the Premises or the Building.

 

		2.11	"As-built" drawings

 

The Tenant shall, upon completion
of the Tenant's Fitting-Out Works, submit to the Landlord "as- built" drawings and plans of the works carried out.

 

		3.	USE AT TENANT'S RISK

 

The Tenant shall use the Premises
and occupy the Premises during the Fitting-Out Period at the Tenant's sole risk and responsibility and shall indemnify and keep
indemnified the Landlord fully from and against:

 

		(a)	failure to obtain any of the Fitting-Out Consents;

 

		(b)	breach, non-observance or non-performance of any terms, conditions or requirements of statute or
the Fitting-Out Consents;

 

		(c)	all claims demands actions suits proceedings orders damages costs losses and expenses of any nature
whatsoever which the Landlord may suffer or incur in connection with loss of life personal injury and/or damage to property arising
from or out of any occurrences in upon or at the Premises or the use of the Premises or any part thereof caused by the Tenant or
by any of the Tenant's Occupiers; and

 

		(d)	all loss and damage to the Premises and the Building or any part thereof and to all property therein
caused directly or indirectly by the Tenant or the Tenant's Occupiers.

 

    	57

    	 

    

 

THE FIFTH SCHEDULE
ABOVE REFERRED TO

 

The Landlord
shall bear the cost and expenses relating to:

 

		(a)	Subject to Clauses 5.11 and 5.42 above, preventive maintenance for Landlord’s building facilities
covering the electrical system (including annual testing and renewal of electrical licence), ACMV system, fire protection system
(excluding Tenant’s server room/data room, if any), plumbing & sanitary system, life system (including testing for renewal
of lift certificate), dock leveler and automatic car-park barriers;

 

		(b)	Landscaping works and pest control works for the external part of the Property only;

 

		(c)	Facade painting, cleaning of curtain walling/cladding and 5-yearly structural inspection;

 

		(d)	Replacement of building structure, building services and systems provided that the need to carry
out such replacement is not caused by the act, omission or negligence of the Tenant, its servants, agents, contractors, invitees
or permitted occupiers;

 

		(e)	Re-roofing and replacement of waterproofing;

 

		(f)	Re-surfacing of carpark;

 

		(g)	Provision of office-hour air-conditioning (i.e. 8.00 a.m. to 6.00 p.m., from Mondays to Fridays
and from [8.00 a.m. to 1.00 p.m.] on Saturdays (Sundays and gazetted public holidays excluded);

 

		(h)	Provision of 24-hour 7-day security guards (2 guards during day shift and 1 guard during night
shift);

 

		(i)	Daily cleaning of external common areas;

 

		(j)	Daily refuse disposal;

 

		(k)	Daily cleaning of internal common areas and toilets; and

 

		(l)	The provision of a gym in the Building with usage fees (to be determined by the Landlord) being
payable.

 

    	58

    	 

    

 

THE SIXTH SCHEDULE
ABOVE REFERRED TO

 

RENT REVIEW

 

		1.	Revision

 

		(a)	The rent applicable as at the commencement of each of the First Option Term and the Second Option
Term shall be revised and determined in accordance with the provisions of this Sixth Schedule.

 

		(b)	In respect of the First Option Term:

 

		(i)	the monthly rent (excluding service
charge) payable for each month comprised in the first year of the First Option Term shall be the Prevailing Market Rent as at the
commencement of the First Option Term, subject to a cap equivalent to 105% of the effective rent (excluding service charge) payable
for the last month of the Term but in any case shall not be below the rent payable for
the year immediately preceding; and

 

		(ii)	subsequent thereto, the rent (excluding
service charge) for each subsequent year comprised in the remaining period of the First Option Term shall be revised to a rent
to be agreed between the Parties at the time of renewal of the First Option Term, which rent shall be subject to a yearly escalation
not exceeding five per cent (5%) over the rent (excluding service charge) applicable to the year immediately preceding each such
year but in any case shall not be below the rent payable for the year immediately preceding each such year.

 

		(c)	In respect of the Second Option Term:

 

		(i)	the monthly rent (excluding service
charge) payable for each month comprised in the first year of the Second Option Term shall be the Prevailing Market Rent as at
the commencement of the Second Option Term but in any case shall not be below the rent payable for the year immediately preceding;
and

 

		(ii)	subsequent thereto, the rent (excluding
service charge) for each subsequent year comprised in the remaining period of the Second Option Term shall be revised to a rent
to be agreed between the Parties at the time of renewal of the Second Option Term, which rent shall be subject
to a yearly escalation not exceeding five per cent (5%) over the rent (excluding service charge) applicable to the year immediately
preceding each such year but in any case shall not be below the rent payable for the year immediately preceding each such
year.

 

		(d)	The Service Charge applicable for
each month comprised in the First Option Term and the Second Option Term shall be determined by the Landlord from time to time,
acting reasonably and having regard to the rates of service charge applicable to comparable properties (if
any).

 

		2.	Agreement on Prevailing Market Rate

 

The
Landlord and the Tenant shall endeavour to agree on the Prevailing Market Rent no later than the date ("Parties'
Rent Review Date") falling six (6) months before the commencement
of the First Option Term or the Second Option Term, as the case may be.

 

    	59

    	 

    

  

		3.	Determination by Third Parties

 

			If the Landlord and the Tenant fail to agree on the Prevailing Market Rent by the date stipulated
in Paragraph 2 of this Schedule, the following provisions shall apply:

 

		(a)	within fourteen (14) days after the
date stipulated in Paragraph 2 of this Schedule, each of the Landlord and the Tenant shall at its own cost appoint any one of the
following valuers:

 

		(i)	Colliers International;

		(ii)	Jones Lang LaSalle Property Consultants Pte Ltd;

		(iii)	CB Richard Ellis (Pte) Ltd;

		(iv)	DTZ Debenham Tie Leung (SEA) Pte Ltd; and

		(v)	Knight Frank Pte Ltd,

 

to determine the Prevailing Market
Rent and shall instruct the valuer so appointed by it (the "Appointed Valuer") to report in writing to
both the parties hereto, no later than thirty (30) days (the "Appointed Valuer's Rent Review Date") after
the Appointed Valuer’s appointment, the Appointed Valuer’s valuation of the Prevailing Market Rent. The valuer so appointed
shall act as an expert and not an arbitrator;

 

		(b)	if the variance between the two valuations
obtained pursuant to the valuation carried out under Paragraph 3(a) does not exceed five per cent (5%) of the higher valuation
obtained, the average of the two Appointed Valuers’ valuations made in accordance with paragraph 3(a) of this Schedule shall
be the Prevailing Market Rent and be binding and conclusive on both the Landlord and the Tenant but if only one Appointed Valuer
has been appointed or has reported in accordance with the said paragraph 3(a), the valuation of the Appointed Valuer so appointed
and reporting shall be the Prevailing Market Rent and shall be conclusive and binding on the Landlord and the Tenant; and

 

		(c)	if
                                                                                                        the variance between the
                                                                                                        two valuations obtained
                                                                                                        pursuant to the valuation
                                                                                                        carried out under Paragraph
                                                                                                        3(a) of this Schedule
                                                                                                        exceeds five per cent
                                                                                                        (5%) of the higher valuation
                                                                                                        obtained, the Landlord
                                                                                                        and the Tenant shall within
                                                                                                        seven (7) days from the
                                                                                                        date of the later valuation
                                                                                                        report jointly appoint
                                                                                                        a third approved valuer
                                                                                                        (the "Approved
                                                                                                        Valuer")
                                                                                                        from the aforesaid list
                                                                                                        of Appointed Valuer or
                                                                                                        in the event that the
                                                                                                        Landlord and the Tenant
                                                                                                        cannot agree on the appointment
                                                                                                        of the Approved Valuer,
                                                                                                        such Approved Valuer as
                                                                                                        appointed by the President
                                                                                                        of the Institution of
                                                                                                        Surveyors and Valuers
                                                                                                        to whom the Parties shall
                                                                                                        refer, to report in writing
                                                                                                        to both parties hereto,
                                                                                                        the Approved Valuer’s
                                                                                                        valuation of the Prevailing
                                                                                                        Market Rent within twenty-one
                                                                                                        (21) days of his appointment
                                                                                                        (the "Approved
                                                                                                        Valuer's Rent Review Date").
                                                                                                        Such Approved Valuer shall
                                                                                                        act as an expert and not
                                                                                                        an arbitrator and the
                                                                                                        Prevailing Market Rent
                                                                                                        shall in such case be
                                                                                                        derived by taking the
                                                                                                        average of the two valuations
                                                                                                        which are closest in value
                                                                                                        from the three valuation
                                                                                                        reports obtained pursuant
                                                                                                        to Paragraphs 3(b) and
                                                                                                        (c) herein, and such Prevailing
                                                                                                        Market Rent shall be binding
                                                                                                        on the Landlord and Tenant.
                                                                                                        The costs and expenses
                                                                                                        of the Approved Valuer
                                                                                                        shall be borne by the
                                                                                                        parties in equal shares.

 

	 	(d)	For the avoidance of doubt, if the Prevailing Market Rent is not determined by the commencement date of the First Option Term or Second Option Term, as the case may be, the Tenant shall continue to pay the Rent then applicable to the Landlord until the Prevailing Market Rent has been determined. Upon determination of the Prevailing Market Rent, the rent, service charge and security deposit amount will be adjusted accordingly with effect from the Relevant Rent Review Date. If there is any underpayment, the shortfall must be paid by the Tenant to the Landlord, free of interest, within fourteen (14) days from the date of determination of the Prevailing Market Rent. If there is any overpayment, the excess will be paid by the Landlord to the Tenant, free of interest, within fourteen (14) days of the date of determination of the Prevailing Market Rent or (at the Landlord’s discretion) be applied by the Landlord towards the rent and service charge payable by the Tenant on the next Payment Date.

 

    	60

    	 

    

 

		4.	Definitions

 

For the purpose of
this Paragraph 4:

 

"Prevailing Market
Rent" means the monthly unit rent (expressed in per square foot or per square metre) at which the Premises might reasonably
be expected to be let in the open market on the Parties' Rent Review Date, the Appointed Valuer's Rent Review Date or the Approved
Valuer's Rent Review Date, as the case may be.

 

ASSUMING

 

		(a)	the letting is substantially on the same terms and conditions as those applicable to the First
Option Term or the Second Option Term (as the case may be);

 

		(b)	the Premises are available to let as a whole, with vacant possession, by a willing landlord to
a willing tenant, without premium;

 

		(c)	the Premises are ready, fit and available for immediate occupation and use and all fitting out
and other tenant’s works required by the tenant have been completed immediately prior to the commencement of the First Option
Term or Second Option Term, as the case may be;

 

		(d)	the Landlord and the Tenant have complied with their respective obligations under this Agreement,
the agreement relating to the First Option Term or the agreement relating to the Second Option Term, as the case may be, but without
prejudice to any rights of the parties;

 

		(e)	if the whole or any part of the Premises or the means of access or any services to them have been
destroyed or damaged, they have been fully reinstated;

 

		(f)	the rates of rent payable for single lettings of comparable premises in the vicinity of the Property;

 

		(g)	the effective rent on a new single letting of space of similar size and condition to the Property
with vacant possession; and

 

		(h)	the Property being available only for the use as that set forth in this Agreement as may be supplemented,
varied or amended from time to time.

 

BUT TAKING NO ACCOUNT OF

 

		(I)	any goodwill attributable to the Premises by reason of any business of Kulicke & Soffa Pte.
Ltd. carried on there;

 

		(II)	any effect on rent of the fact that any tenant and any permitted occupier is or has been in occupation
of the Premises;

 

		(III)	the value of the fixtures and fittings of the Tenant and any permitted occupier; and

 

    	61

    	 

    

 

		(IV)	any sublease or other sub-tenancy agreement, licence or occupational arrangement in respect of
any part of the Property and any rental fees or money payable under any of them.

 

    	62

    	 

    

 

APPENDIX 1

 

FORM
OF BANK GUARANTEE

(FOR
THE SECURITY DEPOSIT AMOUNT)

 

	Date	:	[·]
	 	 	 
	To	:	DBS TRUSTEE LIMITED AS TRUSTEE OF MAPLETREE INDUSTRIAL TRUST
	 		 
	 	 	("Landlord")

 

Dear Sirs

 

OUR BANK GUARANTEE NO: ___________________
FOR S$ 3.42 MILLION________________

 

		1.	IN CONSIDERATION OF the Landlord agreeing to:

 

		(a)	lease to KULICKE & SOFFA PTE. LTD.
("Tenant") the property known as [·]
("Property"), on the terms and conditions of a lease agreement ("Agreement") dated
[●] entered into between the Landlord and the Tenant; and

 

		(b)	allow the Tenant to furnish a bank guarantee for the whole of the Deposit amount (as defined in
the Agreement) required under the Agreement,

 

we [●] ("Guarantor"),
irrevocably and unconditionally, agree, as a primary obligation ("guaranteed obligation"), to pay to the
Landlord on demand in writing by the Landlord, any sum or sums demanded not exceeding in aggregate the sum of S$[3.42 million]
("Guaranteed Sum").

 

		2.	Payment of the Guaranteed Sum shall be made by the Guarantor
to the Landlord:

 

		(a)	whether or not the Guarantor gives prior notice of the payment to the Tenant;

 

		(b)	despite any dispute between the Landlord and the Tenant or any notice given to the Guarantor by
the Tenant not to pay to the Landlord any sums payable under this Guarantee; and

 

		(c)	irrespective of the performance or non-performance by the Tenant or the Landlord of the terms of
the Agreement or any obligation under or in connection with the Agreement in any respect.

 

		3.	The Guarantor's liability under this Guarantee is not affected or discharged in any way by:

 

		(a)	any variation of the Agreement; or

 

		(b)	any extension of time or other forbearance given by the Landlord to the Tenant; or

 

		(c)	the insolvency, bankruptcy, winding up or judicial management (as may be the case) of the Tenant;
or

 

		(d)	any other circumstance, act or omission which (except for this provision) may operate to exonerate
the Guarantor from that liability or affect that liability at law or in equity.

 

    	63

    	 

    

 

		4.	It is expressly acknowledged and declared that partial and multiple drawings on this Guarantee
are permitted.

 

		5.	This Guarantee shall remain in full force and effect from [insert effective date] until
[insert expiry date] ("Expiry Date").

 

		6.	This Guarantee is governed by and will be construed in accordance with the laws of the Republic
of Singapore.

 

		7.	Any claim under this Guarantee must be made in writing not later than [Expiry Date]* [three (3)
months after the Expiry Date]** and must be delivered personally or sent by prepaid registered post addressed to the Guarantor.

 

		8.	In the event of any assignment by the Landlord of its rights and benefits under this Guarantee
to any subsequent purchaser(s) of the Property, all references to "Landlord" in this Guarantee shall thenceforth
mean and refer to any such assignee.

 

		9.	A person who is not the Guarantor, a successor of the Guarantor, the Landlord or a successor or
assign of the Landlord, has no right under the Contracts (Rights of Third Parties) Act (Chapter
53B of Singapore) to enforce any term of this Guarantee.

 

Yours faithfully

for (Bank issuing the Bank Guarantee)

 

	 	 	 
	Date:	 	Name of signatory(ies):
	 	 	Designation:

 

*
Applicable for all Years, except the final Year

**
Applicable only for final Year

 

    	64

    	 

    

 

APPENDIX 2

 

KEY
PARAMETERS

 

		1.	The Certified Net Lettable Floor Area shall not be less
than 95% of the Contracted NLA.

 

		2.	Net Lettable Floor Area shall not be less than 81,267
sq feet (7,550 sq metres) at 3rd storey.

 

    	65

    	 

    

 

*** Indicates a portion of the exhibit has been omitted based
on a request for confidential treatment submitted to the Securities and Exchange Commission. The omitted portions have been filed
separately with the Securities and Exchange Commission.

 

APPENDIX 3

 

PROHIBITED
PARTIES

 

		1.	For the purposes of this Agreement, Prohibited Parties refer to:

 

		(a)	the parties listed in Part A;

 

		(b)	the parties carrying out (i) manufacturing, (ii) manufacturing and sale, or (iii) manufacturing,
, sale and maintenance, of such equipment described in Part B below; and

 

		(c)	the parties carrying out (i) manufacturing, (ii) manufacturing and sale, or (iii) manufacturing,
sale and maintenance, of such equipment described in Part C below, provided that the Tenant commences carrying
out any of the following (viz: (i) manufacturing, (ii) manufacturing and sale, or (iii) manufacturing, sale and maintenance, of
such equipment described in Part C) and has migrated the description of the equipment found under Part C to Part B pursuant
to paragraph 2 (b) below ( each, entity under the foregoing paragraphs 1(b) and (c), a “Part B Entity”)

 

Provided
Always that:

 

		(a)	the Landlord’s obligations under
Clause 9.18B1with respect to any Part B Entity taking a lease or licence of or other occupation rights (as the case may be) in
respect of any part of the Building or any part of the Land shall be considered satisfied if

 

		(i)	the Landlord includes a covenant in
all the leases, licences or other document(s) (as the case may be) relating to such occupation rights in respect of any part of
the Building or any part of the Land,that prohibit the tenant, licencee or occupant thereunder (as the case may be) from engaging
in or undertaking the (I) manufacture, (II) manufacture and sale, or (III) manufacture, sale and maintenance, of the equipment
listed in Part B. For the avoidance of doubt, where this covenant is included in the relevant lease, licence or other document(s)
(as the case may be) relating to such occupation rights, theLandlord
is not required to audit or conduct further due diligence into the relevant occupant’s activities; and

 

		(ii)	In the event the Tenant notifies the
Landlord that any of the tenant, licencee or occupant referred to in the foregoing paragraph (a)(i) of this proviso is in breach
of the covenant, the
Landlord must investigate and enforce the covenant against the relevant tenant, licencee or occupant, if applicable.

 

		(b)	for the avoidance of doubt, (i) entities using but not manufacturing such equipment described
in Part B and Part C for its business and carrying out the maintenance of such equipment either on its own or through a third party;
(ii) entities that manufacture and supply parts for the manufacture of the equipment, and (iii) entities which either maintain
or sell such equipment only, do not qualify as a Part B Entity.

 

subject to
the rights of the Tenant to review and refresh the list in

 

		(a)	Part A; and

 

		(b)	the descriptions in Part B by a migration
of the description previously found under Part C, to Part B consequent upon the Tenant carrying out (i) manufacturing, (ii) manufacturing
and sale, or (iii) manufacturing, sale and maintenance, of such equipment described in Part C,

 

    	66

    	 

    

 

from time to
time in accordance with the provisions of this Appendix 3.

 

		2.	The Tenant is entitled to review
and refresh by notice in writing (each, a "Refresher Notice") to the
Landlord :

 

		(a)	the
list of entities in Part A, so long as:

 

		(i)	the total number of entities in the
list in Part A does not exceed fifty; and

 

		(ii)	any new entity
introduced as part of the refresher exercise is in competition with the Tenant’s then current activities and operations,
or is a related company (as defined under Section 6 of the Companies Act (Cap 50)) of such entity listed in Part A; and

 

		(b)	the description of the equipment
in Part B, by a migration of the description of the equipment previously found under Part C, to Part B
consequent upon the Tenant carrying out (i) manufacturing, (ii) manufacturing and sale, or (iii) manufacturing, sale and maintenance,
of such equipment described in Part C.

 

The
refresher may be on an annual or a more frequent basis, as may be determined by the Tenant acting in good faith. Every notification
issued by the Tenant for the purpose of refreshing the contents of Part A and/or Part B shall take effect thirty (30) Business
Days from the date of service of the notice on the Landlord.

 

		3.	In the event of a dispute as to whether
an entity qualifies as a Prohibited Party under Clause 9.18B and Appendix 3 (the "Disputed Prohibited Party"),
the Landlord’s undertaking under Clause 9.18B.1 shall apply to such Disputed Prohibited Party as if it were a Prohibited
Party under this Agreement, until such a dispute has been resolved between the Parties.

 

	Part A	 	S/No	 	Name as in ACRA
	ASM	 	1	 	ASM ASSEMBLY SYSTEMS PTE. LTD.
	 	 	2	 	ASM ASSEMBLY SYSTEMS SINGAPORE PTE. LTD.
	 	 	3	 	ASM TECHNOLOGY R&D CENTER SINGAPORE PTE. LTD.
	 	 	4	 	ASM TECHNOLOGY SINGAPORE PTE LTD
	 	 	5	 	ASM WAFER PROCESS EQUIPMENT SINGAPORE PTE LTD
	 	 	6	 	ASM FRONT-END MANUFACTURING SINGAPORE PTE. LTD.
	BE Semiconductor Industries N.V	 	7	 	BESI SINGAPORE PTE. LTD.
	 	 	8	 	Fico Sales & Service Pte. Ltd.
	 	 	9	 	Meco Equipment Engineers (Far East) Pte. Ltd.
	 	 	10	 	Esec (Singapore) Pte. Ltd.
	DISCO Corporation	 	11	 	DISCO HI-TEC (SINGAPORE) PTE LTD

 

    	67

    	 

    

 

	Part A	 	S/No	 	Name as in ACRA
	EVG	 	12	 	Linkfab Technologies Pte Ltd.
	F & K Delvotec	 	13	 	F & K DELVOTEC BONDTECHNIK GMBH & CO. KG
	Hitachi High-Technologies Corp	 	14	 	HITACHI HIGH-TECHNOLOGIES (SINGAPORE) PTE. LTD.
	Paloma Technologies	 	15	 	PALOMAR TECHNOLOGIES (SE ASIA) PTE. LTD.
	Panasonic Factory Solutions Co Ltd	 	16	 	 PANASONIC FACTORY SOLUTIONS ASIA PACIFIC
	 	 	17	 	PANASONIC FACTORY SOLUTIONS ASIA PACIFIC PTE. LTD.
	Shinkawa Ltd	 	18	 	SHINKAWA SINGAPORE PTE LTD
	Small Precision tools	 	19	 	SPT ASIA PTE LTD
	Suss Microtec	 	20	 	SUSS MICROTEC (SINGAPORE) PTE. LTD.
	 	 	21	 	ZMC TECHNOLOGIES (SINGAPORE) PTE. LTD.
	 	 	22	 	ZMC TECHNOLOGIES PTE LTD
	Toray Engineering Co Ltd	 	23	 	TORAY ASIA PTE. LTD.
	 	 	24	 	TORAY INTERNATIONAL SINGAPORE PTE. LTD.
	West Bond Inc	 	25	 	DYMEK ASIA (S) PTE LTD

 

	Part A	 	S/No	 	Name not in ACRA yet
	Canon Machinery Inc	 	26	 	Canon Machinery Inc
	DIAS Automation	 	27	 	DIAS Automation
	Hesse & Knipps	 	28	 	Hesse & Knipps
	Kaijo Corp	 	29	 	Kaijo Corp
	Muehlbauer Holding AG & Co. KGaA	 	30	 	Muehlbauer Holding AG & Co. KGaA
	PECO Co., Ltd	 	31	 	PECO Co., Ltd
	Shibaura Mechatronics Corp	 	32	 	Shibaura Mechatronics Corp
	Ultrasonic Engineering Co., Ltd	 	33	 	Ultrasonic Engineering Co., Ltd

 

    	68

    	 

    

 

*** Indicates a
portion of the exhibit has been omitted based on a request for confidential treatment submitted to the Securities and Exchange
Commission. The omitted portions have been filed separately with the Securities and Exchange Commission.

 

	S/No	 	Part B	 
	1	 	Wire Bonding Equipment	 
	2	 	Die Attach equipment	 
	3	 	Stud bumper	 
	4	 	Bonding tools	 
	5	 	Dicing blades	 
	6	 	 	 
	7	 	 	 
	 	 	 	 
	S/No	 	Part C	 
	1	 	***	 
	2	 	***	 
	3	 	Flip Chip Equipment	 
	4	 	Molding & Sealing Equipment	 
	5	 	***	 
	6	 	***	 
	7	 	***	 
	8	 	***	 
	9	 	***	 
	10	 	***	 
	11	 	***	 
	12	 	***	 
	13	 	 	 
	14	 	 	 
	15	 	 	 
	16	 	 	 

 

    	69

    	 

    

 

APPENDIX 4

 

DESIGNATED
LOADING DOCKS

 

    	70

    	 

    

 

APPENDIX 5

 

LICENSED
AREA

 

    	71

    	 

    

 

APPENDIX 6

 

CARGO
LIFT

 

    	72

    	 

    

 

APPENDIX 7

 

THE
PREMISES 

 

 

    	73

    	 

    

 

 

    	74

    	 

    

 

 

    	75

    	 

    

 

APPENDIX 8

[PLANS
SHOWING RESERVED PREMISES 1

AND
RESERVED PREMISES 2]

 

Reserved Premises 1

 

 

	
        Conversion Rate: 1 square metre = 10.7639 square foot
	 

 

    	76

    	 

    

Reserved Premises 2

 

 

	
        Conversion Rate: 1 square metre = 10.7639 square foot
	 

 

    	77

    	 

    

 

IN WITNESS WHEREOF this Agreement has been entered into
on the date stated at the beginning.

 

THE LANDLORD

 

	SIGNED by	)
	for and on behalf of	)
	DBS TRUSTEE LIMITED	)
	AS TRUSTEE OF MAPLETREE INDUSTRIAL TRUST	)
	in the presence of:	)

 

	 	 
	Witness’ signature	 
	Name:	 

 

THE TENANT

 

	SIGNED by	)
	for and on behalf of	)
	KULICKE & SOFFA PTE. LTD.	)
	in the presence of:	)

 

	 	 
	Witness’ signature	 
	Name:	 

 

    	 

    	 

    

 

APPENDIX
6

 

MASTER
SCHEDULE

 

 

    	61

    	 

    

 

APPENDIX
7

 

KEY
PARAMETERS

 

		1.	The Certified Net Lettable Floor Area shall not be less than 95%
                                                          of the Contracted NLA.

 

		2.	Net Lettable Floor Area shall not be less than 81,267 sq feet at
                                                          3rd storey.

 

    	62

    	 

    

 

IN WITNESS WHEREOF this Agreement has been entered into
on the date stated at the beginning.

 

	THE LANDLORD	 	 	 
	 	 	 	 
	SIGNED by	)	 	 
	for and on behalf of	)	    /s/ Tham Kuo Wei	 
	DBS TRUSTEE LIMITED	)	 	 
	AS TRUSTEE OF MAPLETREE INDUSTRIAL TRUST	)	 	 
	in the presence of:	)	 	 
	 	 	 	 
	/s/ Carol Anne Tan	 	 	 
	Witness’ signature	 	 	 
	Name: Carol Anne Tan	 	 	 
	 	 	 	 
	THE TENANT	 	 	 
	 	 	 	 
	SIGNED by	)	 	 
	for and on behalf of	)	/s/ Jonathan H. Chou	 
	KULICKE & SOFFA PTE. LTD.	)	 	 
	in the presence of:	)	 	 
	 	 	 	 
	/s/ Cheung Yong Fung	 	 	 
	Witness’ signature	 	 	 
	Name: Cheung Yong Fung	 	 	 

 

    	63$200,000,000

 

FOURTH AMENDED AND RESTATED

CREDIT AGREEMENT

 

dated as of

 

July 30, 2012

 

among

 

BENCHMARK ELECTRONICS, INC.,

 

The Borrowing Subsidiaries,

 

The Lenders Party Hereto,

 

JPMORGAN CHASE BANK, N.A.,

as Administrative Agent

 

and

 

WELLS FARGO BANK, N.A.

and

COMPASS BANK,

as Co-Syndication Agent

 

* * * * *

 

J.P. MORGAN SECURITIES LLC,

as Lead Arranger

 

 

 

 

    	 

    	 

    

  

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	ARTICLE I Definitions	2
	Section 1.01	Defined Terms	2
	Section 1.02	Terms Generally	27
	Section 1.03	Accounting Terms; GAAP	27
	Section 1.04	Classification of Loans and Borrowings	28
	 	 	 
	ARTICLE II The Credits	28
	Section 2.01	Commitments	28
	Section 2.02	Loans and Borrowings	28
	Section 2.03	Requests for Borrowings	29
	Section 2.04	Swingline Loans	30
	Section 2.05	Letters of Credit	31
	Section 2.06	Funding of Borrowings	35
	Section 2.07	Interest Elections	35
	Section 2.08	Termination and Reduction of Commitments	37
	Section 2.09	Repayment of Loans; Evidence of Debt	37
	Section 2.10	Prepayment of Loans	38
	Section 2.11	Fees	39
	Section 2.12	Interest	40
	Section 2.13	Alternate Rate of Interest	40
	Section 2.14	Increased Costs	41
	Section 2.15	Break Funding Payments	42
	Section 2.16	Taxes	43
	Section 2.17	Payments Generally; Pro Rata Treatment; Sharing of Set-offs	47
	Section 2.18	Mitigation Obligations; Replacement of Lenders	48
	Section 2.19	Increase of Commitments	49
	Section 2.20	Borrowing Subsidiaries	51
	Section 2.21	Cash Collateral	51
	Section 2.22	Defaulting Lenders	52
	 	 	 
	ARTICLE III Representations and Warranties	54
	Section 3.01	Organization	54
	Section 3.02	Authorization; Enforceability	55
	Section 3.03	Governmental Approvals; No Conflicts	55
	Section 3.04	Financial Statements; No Material Adverse Change	55
	Section 3.05	Properties	56
	Section 3.06	Litigation and Environmental Matters	56
	Section 3.07	Compliance with Laws and Agreements	56
	Section 3.08	Intellectual Property	56
	Section 3.09	Investment Company Status	57
	Section 3.10	Taxes	57
	Section 3.11	ERISA	57

 

    	-i-

    	 

    

 

	Section 3.12	Labor Matters	57
	Section 3.13	Insurance	57
	Section 3.14	Solvency	58
	Section 3.15	Subsidiaries	58
	Section 3.16	Disclosure	58
	Section 3.17	Margin Stock	58
	Section 3.18	Use of Proceeds	59
	Section 3.19	No Undisclosed Liabilities	59
	Section 3.20	USA PATRIOT Act	59
	Section 3.21	Embargoed Person	59
	 	 	 
	ARTICLE IV Conditions	60
	Section 4.01	Effective Date	60
	Section 4.02	Each Credit Event	61
	Section 4.03	Initial Credit Event for each Borrowing Subsidiary	62
	 	 	 
	ARTICLE V Affirmative Covenants	62
	Section 5.01	Financial Statements and Other Information	62
	Section 5.02	Notices of Material Events	64
	Section 5.03	Information Regarding Collateral	65
	Section 5.04	Existence; Conduct of Business	65
	Section 5.05	Payment of Obligations	65
	Section 5.06	Maintenance of Properties; Insurance	65
	Section 5.07	Insurance	65
	Section 5.08	Books and Records; Inspection and Audit Rights	66
	Section 5.09	Compliance with Laws	66
	Section 5.10	Use of Proceeds and Letters of Credit	66
	Section 5.11	Additional Subsidiaries	66
	Section 5.12	Ownership of Subsidiaries	66
	Section 5.13	Further Assurances	67
	 	 	 
	ARTICLE VI Negative Covenants	67
	Section 6.01	Indebtedness	67
	Section 6.02	Liens	68
	Section 6.03	Fundamental Changes	69
	Section 6.04	Investments, Loans, Advances, Guarantees and Acquisitions	70
	Section 6.05	Asset Sales, etc	71
	Section 6.06	Sale and Leaseback Transactions	72
	Section 6.07	Swap Agreements	72
	Section 6.08	Restricted Payments; Certain Payments in Respect of Indebtedness	72
	Section 6.09	Transactions with Affiliates	73
	Section 6.10	Restrictive Agreements	73
	Section 6.11	Change in Fiscal Year	73
	Section 6.12	Constitutive Documents	73
	Section 6.13	Sales and Assignments of Income, Revenues and Receivables	74
	Section 6.14	Amendment of Material Documents	74
	Section 6.15	Required Material Domestic Subsidiaries	74

 

    	-ii-

    	 

    

 

	Section 6.16	Adjusted Leverage Ratio; Leverage Ratio	74
	Section 6.17	Fixed Charge Coverage Ratio	74
	 	 	 
	ARTICLE VII Events of Default and Remedies	74
	Section 7.01	Events of Default	74
	Section 7.02	Cash Collateral	77
	 	 	 
	ARTICLE VIII The Administrative Agent	77
	 	 	 
	ARTICLE IX Miscellaneous	79
	Section 9.01	Notices	79
	Section 9.02	Waivers; Amendments	82
	Section 9.03	Expenses; Indemnity; Damage Waiver	83
	Section 9.04	Successors and Assigns	85
	Section 9.05	Survival	89
	Section 9.06	Counterparts; Integration; Effectiveness	89
	Section 9.07	Severability	89
	Section 9.08	Right of Setoff	89
	Section 9.09	Governing Law; Consent to Service of Process	90
	Section 9.10	WAIVER OF JURY TRIAL	91
	Section 9.11	Headings	91
	Section 9.12	Confidentiality	91
	Section 9.13	Interest	92
	Section 9.14	Release of Liens and Guarantees	92
	Section 9.15	No Novation	93
	Section 9.16	USA Patriot Act	93
	Section 9.17	Joint and Several Liability	93
	Section 9.18	Release of Non-Material Domestic Subsidiaries	93
	Section 9.19	FINAL AGREEMENT OF THE PARTIES	94

 

    	-iii-

    	 

    

 

SCHEDULES:

 

	Schedule 1.01	–	Unrestricted Subsidiaries
	Schedule 2.01	–	Commitments
	Schedule 3.01	–	Organization
	Schedule 3.06	–	Disclosed Matters
	Schedule 3.13	–	Insurance
	Schedule 3.15	–	Subsidiaries of Company
	Schedule 3.19	–	Liabilities
	Schedule 6.01	–	Existing Indebtedness
	Schedule 6.02	–	Existing Liens
	Schedule 6.04	–	Existing Investments
	Schedule 6.10	–	Restrictive Agreements

 

EXHIBITS:

 

	Exhibit 1.01A	–	Form of Assignment and Assumption
	Exhibit 1.01B	–	Form of Borrowing Request
	Exhibit 1.01C	–	Form of Borrowing Subsidiary Agreement
	Exhibit 1.01D	–	Form of Borrowing Subsidiary Termination
	Exhibit 1.01E	–	Form of Commitment Increase Agreement
	Exhibit 1.01F	–	Form of New Lender Agreement
	Exhibit 2.16A	–	U.S. Tax Compliance Certificate (For Foreign Lenders that are not Partnerships for U.S. Federal Income Tax Purposes)
	Exhibit 2.16B	–	U.S. Tax Compliance Certificate (For Foreign Participants that are not Partnerships for U.S. Federal Income Tax Purposes)
	Exhibit 2.16C	–	U.S. Tax Compliance Certificate (For Foreign Participants that are Partnerships for U.S.  Federal Income Tax Purposes)
	Exhibit 2.16D	–	U.S. Tax Compliance Certificate (For Foreign Lenders that are Partnerships for U.S. Federal Income Tax Purposes)

 

    	-iv-

    	 

    

 

FOURTH AMENDED AND RESTATED
CREDIT AGREEMENT (this “Agreement”) dated as of July 30, 2012 (the “Effective Date”), among
Benchmark Electronics, Inc., a Texas corporation (the “Company”), the Borrowing Subsidiaries party hereto, the
Lenders party hereto, JPMorgan Chase Bank, N.A., as Administrative Agent, and Wells Fargo Bank, N.A. and Compass Bank, as Co-Syndication
Agent.

 

PRELIMINARY STATEMENT:

 

WHEREAS, on August 24,
1999, the Company, the lenders party thereto and the Administrative Agent entered into the Credit Agreement (the “Original
Credit Agreement”) whereby, upon the terms and conditions therein stated, such lenders agreed to make term loans and
revolving loans to the Company up to the aggregate amount of $225,000,000, to be used by the Company for the purposes set forth
in Section 5.10 of the Original Credit Agreement; and

 

WHEREAS, on June 23,
2000, the Company, the lenders party thereto and the Agent amended the Original Credit Agreement and entered into Amended and Restated
Credit Agreement (as subsequently amended, hereinafter called the “Amended and Restated Agreement”) whereby,
upon the terms and conditions therein stated, such lenders agreed to increase the aggregate amount of the revolving loans to $175,000,000,
increasing the aggregate amount of the credit facility to $268,000,000, to be used by the Company for the purposes set forth in
Section 5.10 of the Amended and Restated Agreement; and

 

WHEREAS, on January 20,
2005, the Company, the lenders party thereto and the Administrative Agent amended the Amended and Restated Agreement and entered
into a Second Amended and Restated Credit Agreement (as subsequently amended, hereinafter called the “Second Amended and
Restated Agreement”) whereby, upon the terms and conditions therein stated, such lenders agreed to reduce the
amount of the credit facility to $100,000,000, to be used by the Company for the purposes set forth in Section 5.10 of the Second
Amended and Restated Agreement; and

 

WHEREAS, on December
21, 2007, the Company, the lenders party thereto and the Administrative Agent amended the Second Amended and Restated Agreement
and entered into a Third Amended and Restated Credit Agreement (as subsequently amended, hereinafter called the “Third
Amended and Restated Agreement”) whereby, upon the terms and conditions therein stated, such lenders agreed to extend
the credit facility in the amount of $100,000,000, to be used by the Company for the purposes set forth in Section 5.10 of the
Third Amended and Restated Agreement; and

 

WHEREAS, the Company,
the Lenders and the Agent mutually desire to amend and restate certain aspects of the Third Amended and Restated Agreement;

 

NOW, THEREFORE, in consideration
of the foregoing and the mutual covenants set forth herein, the Company, the Borrowing Subsidiaries, the Administrative Agent and
the Lenders agree to amend and restate the Third Amended and Restated Agreement in its entirety as follows:

 

    	 

    	 

    

 

ARTICLE
I

 

Definitions

 

Section
1.01         Defined Terms. As used in this Agreement, the following
terms have the meanings specified below:

 

“ABR”,
when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing
interest at a rate determined by reference to the Alternate Base Rate.

 

“Acquisition”
means any acquisition permitted under Section 6.04(f).

 

“Adjusted Leverage
Ratio” means, on any date, the ratio of (a) Total Indebtedness as of such date to (b) Consolidated EBITDA for the period
of four consecutive Fiscal Quarters ended on such date (or, if such date is not the last day of a Fiscal Quarter, ended on the
last day of the Fiscal Quarter most recently ended prior to such date).

 

“Adjusted LIBO
Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, an interest rate per annum (rounded upwards,
if necessary, to the next 1/16 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve
Rate.

 

“Administrative
Agent” means JPMorgan Chase Bank, N.A., in its capacity as administrative agent for the Lenders hereunder.

 

“Administrative
Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent.

 

“Affiliate”
means, with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls
or is Controlled by or is under common Control with the Person specified.

 

“Alternate Base
Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the
Federal Funds Effective Rate in effect on such day plus 1⁄2 of 1% and (c) the Adjusted LIBO Rate for a one month interest
period on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1%. Any change in the Alternate
Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate shall be effective from
and including the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate,
respectively.

 

“Applicable
Margin” means, for any day, the applicable per annum percentage set forth at the appropriate intersection in the table
shown below, based on the Adjusted Leverage Ratio for the most recently ended four consecutive Fiscal Quarter period with respect
to which the Company is required to have delivered the financial statements pursuant to Section 5.01(a) or (b) hereof,
as applicable (as such Adjusted Leverage Ratio is reflected in the compliance certificate delivered under Section 5.01(c)
by the Company in connection with such financial statements):

 

    	-2-

    	 

    

 

	Category	 	Adjusted Leverage

    Ratio	 	ABR Margin	 	 	Eurodollar Margin	 	 	Commitment Fee Rate	 
	I	 	X ≥ 2.00	 	 	1.75	%	 	 	2.75	%	 	 	0.400	%
	II	 	2.00 > X ≥ 1.50	 	 	1.50	%	 	 	2.50	%	 	 	0.375	%
	III	 	1.50 > X ≥ 1.00	 	 	1.25	%	 	 	2.25	%	 	 	0.350	%
	IV	 	1.00 > X ≥ 0.50	 	 	1.00	%	 	 	2.00	%	 	 	0.325	%
	V	 	x < 0.50	 	 	0.75	%	 	 	1.75	%	 	 	0.300	%

 

Each change in the Applicable
Margin shall take effect on each date on which such financial statements and compliance certificate are required to be delivered
pursuant to Section 5.01, commencing with the date on which such financial statements and compliance certificate are required
to be delivered for the Fiscal Quarter ending June 30, 2012. Notwithstanding the foregoing, for the period from the Effective Date
through the date on which the financial statements and related compliance certificate are required to be delivered pursuant to
Section 5.01 for the Fiscal Quarter ending June 30, 2012, the Applicable Margin shall be determined at Category V. In the
event that any financial statement or certificate delivered pursuant to Section 5.01(a), (b) or (c), as applicable,
is shown to be inaccurate when delivered (regardless of whether this Agreement or the Commitments are in effect when such inaccuracy
is discovered, but in any event not to exceed three (3) years past the Maturity Date), and such inaccuracy, if corrected, would
have led to the application of a higher Applicable Margin for any period (an “Applicable Period”) than the Applicable
Margin applied for such Applicable Period, and only in such case, then the Company shall immediately (i) deliver to the Administrative
Agent corrected financial statements for such Applicable Period, (ii) determine the Applicable Margin for such Applicable Period
based upon the corrected financial statements, and (iii) pay to the Administrative Agent the accrued additional interest owing
as a result of such increased Applicable Margin for such Applicable Period, which payment shall be promptly applied by the Administrative
Agent in accordance with Section 2.17. This provision is in addition to rights of the Administrative Agents and Lenders
with respect to Section 2.12(c) and their other respective rights under this Agreement. If the Company fails to deliver
the financial statements and corresponding compliance certificate to the Administrative Agent at the time required pursuant to
Section 5.01, then, at the option of the Administrative Agent or at the request of the Required Lenders, effective as of
the date such financial statements and corresponding compliance certificate were required to be delivered pursuant to Section
5.01, the Applicable Margin shall be determined at Category I and shall remain at such level until the date such financial
statements and corresponding compliance certificate are so delivered by the Company.

 

“Applicable
Percentage” means, with respect to any Lender, the percentage of the total Commitments represented by such Lender’s
Commitment. If the Commitments have terminated or expired, the Applicable Percentages shall be determined based upon the Commitments
most recently in effect, giving effect to any assignments.

 

“Approved Jurisdiction”
means any of the Republic of Ireland, Scotland, the Kingdom of Sweden or the Republic of Singapore.

 

    	-3-

    	 

    

 

“Assignment
and Assumption” means an assignment and assumption entered into by a Lender and an assignee (with the consent of any
party whose consent is required by Section 9.04), and accepted by the Administrative Agent, in the form of Exhibit
1.01A or any other form approved by the Administrative Agent.

 

“Availability
Period” means the period from and including the Effective Date to but excluding the earlier of the Maturity Date and
the date of termination of the Commitments.

 

“Bank Products”
means each and any of the following bank services provided to the Company or any Subsidiary by a Lender or any of its Affiliates:
(a) commercial credit cards, (b) commercial checking accounts, (c) stored value cards and (d) treasury management
services (including, without limitation, controlled disbursements, automated clearinghouse transactions, return items, overdrafts
and interstate depository network services).

 

“Board”
means the Board of Governors of the Federal Reserve System of the United States of America.

 

“Board of Directors”
means the Board of Directors of the Company or any committee thereof duly authorized to act on behalf of such Board.

 

“Borrower”
means the Company or any Borrowing Subsidiary.

 

“Borrowing”
means (a) Revolving Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans,
as to which a single Interest Period is in effect or (b) a Swingline Loan.

 

“Borrowing Request”
means a request by a Borrower for a Borrowing in accordance with Section 2.03, substantially in the form of Exhibit 1.01B.

 

“Borrowing Subsidiary”
means, at any time, each Restricted Subsidiary incorporated or organized in a State of the United States of America or an Approved
Jurisdiction that has been designated as a Borrowing Subsidiary by the Company pursuant to Section 2.20 and that has not
ceased to be a Borrowing Subsidiary as provided in such Section.

 

“Borrowing Subsidiary
Agreement” means a Borrowing Subsidiary Agreement substantially in the form of Exhibit 1.01C.

 

“Borrowing Subsidiary
Termination” means a Borrowing Subsidiary Termination substantially in the form of Exhibit 1.01D.

 

“Business Day”
means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required
by law to remain closed; provided that, when used in connection with a Eurodollar Loan, the term “Business Day”
shall also exclude any day on which banks are not open for dealings in dollar deposits in the London interbank market.

 

    	-4-

    	 

    

 

“Capital Expenditures”
means, for any period, all expenditures (whether paid in cash or accrued as a liability, including the portion of Capital Lease
Obligations originally incurred during such period that are capitalized on the consolidated balance sheet of the Company) by the
Company and its Restricted Subsidiaries during such period, that, in conformity with GAAP, are included in “capital expenditures”,
“additions to property, plant or equipment” or comparable items in the consolidated financial statements of the Company,
but excluding (a) expenditures for the restoration, repair or replacement of any fixed or capital asset that was destroyed
or damaged, in whole or in part, in an amount equal to any insurance proceeds received in connection with such destruction or damage
and (b) expenditures for Acquisitions that for GAAP purposes are treated as “capital expenditures” up to an aggregate
amount of $20,000,000 during the term of this Agreement.

 

“Capital Lease
Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any lease of (or other
arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to
be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations
shall be the capitalized amount thereof determined in accordance with GAAP and any obligations of such Person under any synthetic
lease financing whether or not such obligation is classified as a capital lease under GAAP.

 

“Cash Collateralize”
means, to pledge and deposit with or deliver to the Administrative Agent, for the benefit of one or more of the Issuing Lender
or the Lenders, as collateral for the LC Exposure at such time or obligations of the Lenders to fund participations in respect
of Letters of Credit, cash or deposit account balances or, if the Administrative Agent and the Issuing Lender shall agree, in their
sole discretion, other credit support, in each case pursuant to documentation in form and substance satisfactory to the Administrative
Agent and the Issuing Lender. “Cash Collateral” shall have a meaning correlative to the foregoing and shall
include the proceeds of such Cash Collateral and other credit support.

 

“Cash Interest
Expense” means, for any period, the sum of all cash payments of interest and prepayment charges, if any, including, without
limitation, all net amounts payable (or receivable) under interest rate protection agreements and all imputed interest in respect
of Capital Lease Obligations paid by the Company and its Restricted Subsidiaries on all consolidated basis during such period.

 

“Change in Control”
means (a) the acquisition of ownership, directly or indirectly, beneficially or of record, by any Person or group (within the meaning
of the Securities Exchange Act of 1934 and the rules of the Securities and Exchange Commission thereunder as in effect on the Effective
Date), of Equity Interests representing more than 50% of either the aggregate ordinary voting power or the aggregate equity value
represented by the issued and outstanding Equity Interests in the Company; (b) occupation of a majority of the seats (other than
vacant seats) on the Board of Directors by Persons who were neither (i) nominated by the current Board of Directors nor (ii) appointed
by directors so nominated; or (c) a Change of Control or similar event, however denominated, under any Subordinated Indebtedness
or any other Material Indebtedness.

 

    	-5-

    	 

    

 

“Change in Law”
means the occurrence after the Effective Date or, with respect to any Lender, such later date on which such Lender becomes a party
to this Agreement) of any of the following: (a) the adoption or taking into effect of any law, rule, regulation or treaty,
(b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application
thereof by any Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether
or not having the force of law) by any Governmental Authority; provided
that, notwithstanding anything herein to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and
all requests, rules, guidelines or directives thereunder or issued in connection therewith and (ii) all requests, rules, guidelines
or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor
or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each
case be deemed to be a “Change in Law”, regardless of the date enacted, adopted or issued.

 

“Class”,
when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are Revolving
Loans or Swingline Loans.

 

“Co-Syndication
Agent” means Wells Fargo Bank, N.A. and Compass Bank, each in their capacity as Co-Syndication Agent.

 

“Code”
means the Internal Revenue Code of 1986, as amended from time to time.

 

“Collateral”
means any and all “Collateral”, as defined in any applicable Security Document.

 

“Collateral
Agent” means JPMorgan Chase Bank, N.A. in its capacity as collateral agent for the Lenders hereunder.

 

“Collateral
and Guarantee Requirement” means, at any time, that the following requirements shall be satisfied (to the extent such
requirements are stated to be applicable at the time under clause (a) or (b) below):

 

(a)          at
all times on and after the Effective Date:

 

(i)          the
Guarantee Agreement (or a supplement thereto) shall have been executed by the Company and each Material Domestic Subsidiary existing
at such time, shall have been delivered to the Collateral Agent and shall be in full force and effect;

 

(ii)         one
or more Pledge Agreements (or supplements thereto) shall have been duly executed and delivered by the Company and each Material
Domestic Subsidiary existing at such time and directly owning any outstanding Equity Interests or any Indebtedness, and there shall
have been duly and validly pledged to the Collateral Agent thereunder, for the ratable benefit of the Secured Parties (A) all the
outstanding Equity Interests (other than Equity Interests in any Foreign Subsidiary) owned directly by the Company or any Material
Domestic Subsidiary, (B) 65% of the outstanding voting Equity Interests, and 100% of the outstanding non-voting Equity Interests
(or, in each case, such lesser percentages as shall be owned by the Company and the Material Domestic Subsidiaries) in each Foreign
Subsidiary owned in whole or in part directly by the Company or any Material Domestic Subsidiary and (C) all Indebtedness that
is owed to the Company or any Material Domestic Subsidiary; and any certificates, promissory notes or other instruments representing
the Equity Interests or Indebtedness pledged or subjected to a charge under the Pledge Agreements, accompanied by stock powers
or other instruments of transfer endorsed in blank, shall be in the actual possession of the Collateral Agent and all other steps
required under applicable law or requested by the Collateral Agent to ensure that the Pledge Agreements create valid, first priority,
perfected Liens (subject to Permitted Encumbrances) on all the Collateral subject thereto shall have been taken;

 

    	-6-

    	 

    

 

(iii)        one
or more Security Agreements (or supplements thereto) shall have been duly executed and delivered by the Company and each Material
Domestic Subsidiary existing at such time and there shall have been subjected to security interests thereunder securing the Obligations
all the assets of each such Person in which a security interest can be created under the UCC, and all documents and instruments,
including UCC financing statements, required by law or reasonably requested by the Collateral Agent to be filed, registered or
recorded to create the security interests intended to be created by the Security Agreements and perfect such Liens to the extent
required by, and with the priority required by, the Security Agreements, shall have been filed, registered or recorded (or arrangements
satisfactory to the Collateral Agent for such filing, registration or recording shall have been made);

 

(iv)         the
Indemnity, Subrogation and Contribution Agreement (or a supplement thereto) shall have been executed by the Company and each Material
Domestic Subsidiary party to the Guarantee Agreement, any Pledge Agreement or any Security Agreement, shall have been delivered
to the Collateral Agent and shall be in full force and effect; and

 

(v)          each
Loan Party shall have obtained all consents and approvals required to be obtained by it in connection with the execution and delivery
of all Security Documents to which it is a party, the performance of its obligations thereunder and the granting by it of the Liens
thereunder; and

 

(b)          at
all times when there shall be one or more Foreign Borrowers under this Agreement:

 

(i)          the
Guarantee Agreement (or a supplement thereto) shall have been executed by each Foreign Parent (it being understood that each Foreign
Parent will guarantee only the Obligations of Foreign Borrowers that are its subsidiaries), shall have been delivered to the Collateral
Agent and shall be in full force and effect;

 

(ii)         one
or more Pledge Agreements (or supplements thereto) shall have been duly executed and delivered by each Foreign Borrower and each
Foreign Parent of such Foreign Borrower existing at such time, and there shall have been duly and validly pledged to the Collateral
Agent under the Pledge Agreement, for the ratable benefit of the Secured Parties, (A) all the Equity Interests in such Foreign
Borrower, each Foreign Parent of such Foreign Borrower and each Subsidiary directly owned in whole or in part by such Foreign Borrower
or any such Foreign Parent, including any such Equity Interests owned by the Company and the Domestic Subsidiaries that are not
pledged pursuant to clause (a)(ii) above and (B) all the Indebtedness that is owed to such Foreign Borrower or a Foreign Parent
(it being understood that the Equity Interests and Indebtedness referred to in this clause (ii) will secure only the Obligations
of such Foreign Borrower); and any certificates, promissory notes or other instruments representing such Equity Interests or Indebtedness,
accompanied by stock powers or other instruments of transfer endorsed in blank, shall be in the actual possession of the Collateral
Agent and all other steps required under applicable law or requested by the Collateral Agent to ensure that the Pledge Agreements
create valid, first priority, perfected Liens (subject to Permitted Encumbrances) on all the Collateral subject thereto shall have
been taken; and

 

    	-7-

    	 

    

 

(iii)        one
or more Security Agreements (or supplements thereto) shall have been duly executed and delivered by each Foreign Borrower or Foreign
Parent of such Foreign Borrower existing at such time and there shall have been subjected to security interests thereunder securing
the Obligations of such Foreign Borrower (but not any obligations of the Company or any Domestic Subsidiary) all the personal property
or fixtures (within the meaning of the UCC) of such Person in which a security interest can be created under the laws of each applicable
jurisdiction, with such exceptions as the Collateral Agent may approve in its sole discretion, and without liability to any party
hereto, taking into account the cost and difficulty involved in creating or perfecting any such security interest and the benefits
to the Lenders that would result therefrom, and all documents and instruments required by law or reasonably requested by the Collateral
Agent to be filed, registered or recorded to create the security interests intended to be created by the Security Agreements and
perfect such Liens to the extent required by, and with the priority required by, the Security Agreements, shall have been filed,
registered or recorded (or arrangements satisfactory to the Collateral Agent for such filing, registration or recording shall have
been made).

 

Notwithstanding any of the foregoing provisions of this definition,
if the Company or any Material Domestic Subsidiary shall be using commercially reasonable efforts to create or perfect any pledge
of Equity Interests in or Indebtedness of any Foreign Subsidiary, the failure to have created or perfected such pledge shall not,
in and of itself, prevent the Collateral and Guarantee Requirement from being satisfied until (x) the later of (1) the 90th day
after the Effective Date and (2) the 90th day after the acquisition of such Collateral by the Company or a Material Domestic Subsidiary
or the designation of a Foreign Borrower or (y) if, in the judgment of the Collateral Agent, the Company is endeavoring in good
faith to satisfy the Collateral and Guarantee Requirement, the 180th day after the acquisition of such Collateral by the Company
or a Material Domestic Subsidiary or the designation of a Foreign Borrower.

 

“Commitment”
means, with respect to each Lender, the commitment of such Lender to make Revolving Loans and to acquire participations in Letters
of Credit and Swingline Loans hereunder, expressed as an amount representing the maximum aggregate amount of such Lender’s
Revolving Exposure hereunder, as such commitment may be (a) reduced or increased from time to time pursuant to Section 2.08
or Section 2.19 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to
Section 9.04. The initial amount of each Lender’s Commitment is set forth on Schedule 2.01, or in the Assignment
and Assumption pursuant to which such Lender shall have assumed its Commitment, as applicable. The initial aggregate amount of
the Lenders’ Commitments is $200,000,000.

 

    	-8-

    	 

    

 

“Commitment
Increase Agreement” means a Commitment Increase Agreement substantially in the form of Exhibit 1.01E among the
Borrowers, the Administrative Agent and a Lender.

 

“Commitment
Increase Notice” has the meaning assigned to such term in Section 2.19.

 

“Company”
means Benchmark Electronics, Inc., a Texas corporation.

 

“Connection
Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that
are franchise Taxes or branch profits Taxes.

 

“Consolidated
EBITDA” means, for any period, the EBITDA of the Company and its Restricted Subsidiaries for such period determined on
a consolidated basis, plus to the extent deducted in determining Consolidated Net Income (a) restructuring expenses
incurred during the fiscal year of the Company ended December 31, 2011 in an amount not to exceed $4,515,000 and (b) losses directly
related to the 2011 flooding in Thailand, net of estimated insurance recoveries; provided that (i) solely for purposes
of calculating the Leverage Ratio and Adjusted Leverage Ratio, but not for any other purpose, Consolidated EBITDA for any period
of four consecutive Fiscal Quarters during which an Acquisition shall have occurred shall be computed on a pro forma consolidated
basis to include the EBITDA of such Acquisition, (ii) solely for purposes of calculating the Fixed Charge Coverage Ratio but not
for any other purpose, Consolidated EBITDA shall include distributions from Unrestricted Subsidiaries to the extent actually received
by the Company or any Restricted Subsidiary, and (iii) solely for purposes of calculating the Leverage Ratio but not for any
other purpose, all references to Restricted Subsidiaries in this definition and in the definitions referred to herein shall be
deemed references to Subsidiaries.

 

“Consolidated
Net Income” means, for any Person for any period, the net income (or loss) of such Person and its subsidiaries during
such period, calculated and consolidated or combined in accordance with GAAP; provided that there shall be excluded from
such net income (to the extent otherwise included therein) the following: (a) any non-cash, non-recurring charges, (b) gains or
losses attributable to Property sales not in the ordinary course of business, and (c) the cumulative effect of a change in
accounting principles and any gains or losses attributable to writeups or writedowns of assets.

 

“Consolidated
Net Tangible Assets” means the total assets of the Company and its Restricted Subsidiaries less, without duplication,
(a) intangible assets including, without limitation, goodwill, research and development costs, trademarks, trade names, patents,
franchises, copyrights, licenses and like general intangibles, experimental or organizational expense, unamortized debt discount
and expense carried as an asset, all reserves and any write-up in the book of value of assets made after the Effective Date (other
than write-ups of assets of a going concern business made within 12 months after the acquisition of such business), net of accumulated
amortization and (b) all reserves for depreciation and other asset valuation reserves (but excluding reserves for federal, state
and other income taxes).

 

    	-9-

    	 

    

 

“Control”
means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a
Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled”
have meanings correlative thereto.

 

“Debt Service”
means, for any period, the sum of (a) Cash Interest Expense for such period and (b) scheduled principal payments on Total Indebtedness
for such period.

 

“Debtor Relief
Laws” means the Bankruptcy Code of the United States of America, and all other liquidation, conservatorship, bankruptcy,
assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization or similar debtor
relief Laws of the United States or other applicable jurisdictions from time to time in effect.

 

“Default”
means any event or condition that constitutes an Event of Default or that upon notice, lapse of time or both would, unless cured
or waived, become an Event of Default.

 

“Defaulting
Lender” means, subject to Section 2.22(b), any Lender that (a) has failed to (i) fund all or any portion of its
Loans within two Business Days of the date such Loans were required to be funded by it hereunder unless such Lender notifies the
Administrative Agent and the Company in writing that such failure is the result of such Lender’s determination that one or
more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically
identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent, the Issuing Lender, the Swingline
Lender or any other Lender any other amount required to be paid by it hereunder (including in respect of its participations in
Letters of Credit or Swingline Loans) within two Business Days of the date when due, (b) has notified the Company, the Administrative
Agent, the Issuing Lender or the Swingline Lender in writing that it does not intend to comply with its funding obligations hereunder
or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation
to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent
to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or
public statement) cannot be satisfied, (c) has failed, within three Business Days after written request by the Administrative
Agent or the Company, to confirm in writing that it will comply with its prospective funding obligations hereunder (provided
that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by
the Administrative Agent and the Company), or (d) has, or has a direct or indirect parent company that has, (i) become the subject
of a proceeding under any Debtor Relief Law or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator,
assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including
the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such capacity; provided
that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that
Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not
result in or provide such Lender with immunity from the jurisdiction of the courts within the United States or from the enforcement
of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate,
disavow or disaffirm any contracts or agreements made by such Person.

 

    	-10-

    	 

    

 

“Disclosed Matters”
means the actions, suits and proceedings and the environmental matters disclosed in Schedule 3.06.

 

“dollars”
or “$” refers to lawful money of the United States of America.

 

“Domestic Subsidiaries”
means all Subsidiaries that are U.S. Persons.

 

“EBITDA”
means, for any Person for any period, without duplication, the Consolidated Net Income of such Person for such period plus,
to the extent deducted in determining such Consolidated Net Income, Cash Interest Expense, depreciation, amortization, other non-cash,
non-recurring charges and income tax (including state franchise taxes based upon income) expense.

 

“Effective Date”
has the meaning in the preamble of this Agreement.

 

“Environmental
Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions, notices or binding
agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to the environment, preservation
or reclamation of natural resources, the management, release or threatened release of any Hazardous Material or to health and safety
matters.

 

“Environmental
Liability” means any liability, contingent or otherwise (including any liability for damages, costs of environmental
remediation, fines, penalties or indemnities), of the Company or any Subsidiary directly or indirectly resulting from or based
upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal
of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials
into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed
with respect to any of the foregoing.

 

“Equity Interests”
means shares of capital stock, partnership interests, membership interests in a limited liability company, beneficial interests
in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof
to purchase or acquire any such equity interest.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended from time to time.

 

“ERISA Affiliate”
means any trade or business (whether or not incorporated) that, together with the Company, is treated as a single employer under
Section 414(b) or (c) of the Code or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a
single employer under Section 414 of the Code.

 

    	-11-

    	 

    

 

“ERISA Event”
means (a) any “reportable event”, as defined in Section 4043 of ERISA or the regulations issued thereunder with respect
to a Plan (other than an event for which the 30 day notice period is waived); (b) the existence with respect to any Plan of any
unpaid “minimum required contribution” (as defined in Section 430 of the Code or Section 303 of ERISA), whether or
not waived, or with respect to a Multiemployer Plan, any “accumulated funding deficiency” (as defined in Section 431
of the Code or Section 304 of ERISA), whether or not waived; (c) the filing pursuant to Section 412(c) of the Code or Section 302(c)
of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by the Company
or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan; (e) the receipt
by the Company or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate
any Plan or Plans or to appoint a trustee to administer any Plan; (f) the incurrence by the Company or any of its ERISA Affiliates
of any liability with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; or (g) the receipt by
the Company or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from the Company or any ERISA Affiliate
of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected
to be, insolvent or in reorganization, within the meaning of Title IV of ERISA.

 

“Eurodollar”,
when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing
interest at a rate determined by reference to the Adjusted LIBO Rate.

 

“Event of Default”
has the meaning assigned to such term in ARTICLE VII.

 

“Excluded Taxes”
means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted from a payment
to a Recipient: (a) Taxes imposed on or measured by net income (however denominated), franchise, taxable margin or similar
Taxes and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having
its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax
(or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding
Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment
pursuant to a law in effect on the date on which (i) such Lender acquires such interest in the Loan or Commitment (other than
pursuant to an assignment request by the Company under Section 2.18(b)) or (ii) such Lender changes its lending office,
except in each case to the extent that, pursuant to Section 2.16, amounts with respect to such Taxes were payable either
to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed
its lending office, (c) Taxes attributable to such Recipient’s failure to comply with Section 2.16(f) and (d) any
U.S. federal withholding Taxes imposed under FATCA.

 

“Executive Order”
has the meaning set forth in Section 3.21.

 

“FATCA”
means Sections 1471 through 1474 of the Code, as of the Effective Date (or any amended or successor version that is substantively
comparable and not materially more onerous to comply with) and any current or future regulations or official interpretations thereof.

 

    	-12-

    	 

    

 

“Federal Funds
Effective Rate” means, for any day, the weighted average (rounded upwards, if necessary, to the next 1/100 of 1%) of
the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers,
as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published
for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for
such day for such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected
by it.

 

“Fee Letter”
means the letter agreement dated June 4, 2012, among the Company, the Administrative Agent and the Lead Arranger.

 

“Financial Officer”
means the chief financial officer, principal accounting officer, treasurer or controller of the Company.

 

“Fiscal Quarter”
means the fiscal quarter of the Company, ending on the last day of each March, June, September and December of each year.

 

“Fixed Charge
Coverage Ratio” means, for any period, the ratio of (i) Consolidated EBITDA plus Lease Expense and less cash taxes of
the Company and its Restricted Subsidiaries for such period to (ii) the Debt Service plus Capital Expenditures plus Lease Expense
of the Company and its Restricted Subsidiaries for such period.

 

“Foreign Borrower”
means any Borrowing Subsidiary that is a Foreign Subsidiary.

 

“Foreign Lender”
means (a) if a Borrower is a U.S. Person, a Lender that is not a U.S. Person and (b) if a Borrower is not a U.S. Person, a Lender
that is resident or organized under the laws of a jurisdiction other than that in which such Borrower is resident for tax purposes.

 

“Foreign Parent”
means a Foreign Subsidiary that is a direct or indirect parent of a Foreign Borrower.

 

“Foreign Subsidiary”
means any Subsidiary that is not a U.S. Person.

 

“Fronting Exposure”
means, at any time there is a Defaulting Lender, (a) with respect to the Issuing Lender, such Defaulting Lender’s Applicable
Percentage of the LC Exposure at such time other than LC Exposure as to which such Defaulting Lender’s participation obligation
has been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof and (b) with respect to the Swingline
Lender, such Defaulting Lender’s Applicable Percentage of the Swingline Exposure at such time other than Swingline Exposure
as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders.

 

    	-13-

    	 

    

 

“GAAP”
means generally accepted accounting principles in the United States of America.

 

“Governmental
Approval” means (a) any authorization, consent, approval, license, waiver, ruling, permit, tariff, rate, certification,
exemption, filing, variance, claim, order, judgment, decree, sanction or publication of, by or with; (b) any notice to; (c) any
declaration of or with; or (d) any registration by or with, or any other action or deemed action by or on behalf of, any Governmental
Authority.

 

“Governmental
Authority” means the government of the United States of America, any other nation or any political subdivision thereof,
whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising
executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including
any supra-national bodies such as the European Union or the European Central Bank).

 

“Guarantee”
of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the guarantor guaranteeing
or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”)
in any manner, whether directly or indirectly, and including any obligation of the guarantor, direct or indirect, (a) to purchase
or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to
advance or supply funds for the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities
or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (c) to maintain
working capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable
the primary obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of any letter of credit
or letter of guaranty issued to support such Indebtedness or obligation; provided, that the term Guarantee shall not include
endorsements for collection or deposit in the ordinary course of business.

 

“Guarantee Agreement”
means the Guarantee Agreement dated as of August 24, 1999 and executed in connection with the Original Credit Agreement among the
Company, the Guarantors from time to time party thereto and the Collateral Agent for the benefit of the Secured Parties, as the
same may be amended, modified or supplemented from time to time in accordance with the provisions hereof.

 

“Guarantors”
means all the Material Domestic Subsidiaries and the Foreign Parent of each Foreign Borrower who is required to execute a Guarantee
Agreement pursuant to paragraph (b)(i) of the definition of Collateral and Guarantee Requirement.

 

“Hazardous Materials”
means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes or other pollutants, including
petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious
or medical wastes and all other substances or wastes of any nature regulated pursuant to any Environmental Law.

 

    	-14-

    	 

    

 

“Highest Lawful
Rate” means, as to any Lender or the Issuing Lender, the maximum nonusurious rate of interest that, under applicable
law, may be contracted for, taken, reserved, charged or received by such Lender on the Loans or under the Loan Documents at any
time or from time to time. If the maximum nonusurious rate of interest which, under applicable law, any of such Lenders are permitted
to charge the Borrowers on the Loans shall change after the Effective Date, to the extent permitted by applicable law, the Highest
Lawful Rate shall be automatically increased or decreased, as the case may be, as of the effective time of such change without
notice to the Borrowers or any other Person.

 

“Indebtedness”
of any Person means, without duplication, (a) all obligations of such Person for borrowed money or with respect to deposits
or advances of any kind, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments,
(c) all obligations of such Person under conditional sale or other title retention agreements relating to property acquired
by such Person, (d) all obligations of such Person in respect of the deferred purchase price of property or services (excluding
accounts payable incurred in the ordinary course of business), (e) all Indebtedness of others secured by (or for which the holder
of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by
such Person, whether or not the Indebtedness secured thereby has been assumed, (f) all Guarantees by such Person of Indebtedness
of others, (g) all Capital Lease Obligations of such Person, (h) all obligations, contingent or otherwise, of such Person as an
account party in respect of letters of credit and letters of guaranty and (i) all obligations, contingent or otherwise, of such
Person in respect of bankers’ acceptances. The Indebtedness of any Person shall include the Indebtedness of any other entity
(including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result
of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness
provide that such Person is not liable therefor.

 

“Indemnified
Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account
of any obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes.

 

“Indemnity,
Subrogation and Contribution Agreement” means the Indemnity, Subrogation and Contribution Agreement dated as of August
24, 1999 and executed in connection with the Original Credit Agreement among the Company, the Domestic Subsidiaries from time to
time party thereto and the Collateral Agent for the benefit of the Secured Parties, as the same may be amended, modified or supplemented
from time to time in accordance with the provisions hereof.

 

“Intercompany
Indebtedness” means any indebtedness of the Company or any Subsidiary owed to and held by the Company or any Wholly Owned
Subsidiary; provided that any subsequent issuance or transfer of any Equity Interest which results in any such Wholly Owned
Subsidiary ceasing to be a Wholly Owned Subsidiary or any subsequent transfer of such indebtedness (other than to the Company or
another Wholly Owned Subsidiary) shall be deemed, in each case, to constitute a new incurrence of Indebtedness other than Intercompany
Indebtedness by the issuer thereof.

 

    	-15-

    	 

    

 

“Interest Election
Request” means a request by a Borrower to convert or continue a Borrowing in accordance with Section 2.07.

 

“Interest Payment
Date” means (a) with respect to any ABR Loan (other than a Swingline Loan), the last day of each March, June, September
and December, (b) with respect to any Eurodollar Loan, the last day of the Interest Period applicable to the Borrowing of which
such Loan is a part and, in the case of a Eurodollar Borrowing with an Interest Period of more than three months’ duration,
each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first
day of such Interest Period and (c) with respect to any Swingline Loan, the day that such Loan is required to be repaid.

 

“Interest Period”
means with respect to any Eurodollar Borrowing, the period commencing on the date of such Borrowing and ending on the numerically
corresponding day in the calendar month that is one, two, three or six months thereafter, as a Borrower may elect; provided, that
(a) if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding
Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period
shall end on the next preceding Business Day and (b) any Interest Period that commences on the last Business Day of a calendar
month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall
end on the last Business Day of the last calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially
shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation
of such Borrowing.

 

“IRS”
means the United States Internal Revenue Service.

 

“Issuing Lender”
means JPMorgan Chase Bank, N.A. in its capacity as the issuer of Letters of Credit hereunder, and its successors in such capacity
as provided in Section 2.05. The Issuing Lender may, in its discretion, arrange for one or more Letters of Credit to be
issued by Affiliates of the Issuing Lender, in which case the term “Issuing Lender” shall include any such Affiliate
with respect to Letters of Credit issued by such Affiliate.

 

“Joinder to,
Ratification and Amendment of Guarantee Agreement” means that certain Joinder to, Ratification and Amendment of Guarantee
Agreement dated as of the Effective Date by and among the Company, all Material Domestic Subsidiaries of the Company as of the
Effective Date, all Foreign Parents of all Foreign Borrowers and Administrative Agent.

 

“Joinder to,
Ratification and Amendment of Indemnity, Subrogation and Contribution Agreement” means that certain Joinder to, Ratification
and Amendment of Indemnity, Subrogation and Contribution Agreement dated as of the Effective Date by and among the Company, all
Material Domestic Subsidiaries of the Company as of the Effective Date and Administrative Agent.

 

“Joinder to,
Ratification and Amendment of Pledge Agreement” means that certain Joinder to, Ratification and Amendment of Pledge Agreement
dated as of the Effective Date by and among the Company, all Material Domestic Subsidiaries of the Company as of the Effective
Date, all Foreign Parents of all Foreign Borrowers as of the Effective Date, all Foreign Borrowers as of the Effective Date and
Administrative Agent.

 

    	-16-

    	 

    

 

“Joinder to,
Ratification and Amendment of Security Agreement” means that certain Joinder to, Ratification and Amendment of Security
Agreement dated as of the Effective Date by and among the Company, all Material Domestic Subsidiaries of the Company as of the
Effective Date, all Foreign Parents of all Foreign Borrowers as of the Effective Date, all Foreign Borrowers as of the Effective
Date and Administrative Agent.

 

“Law”
means all laws, statutes, treaties, ordinances, codes, acts, rules, regulations, Government Approvals and Orders of all Governmental
Authorities, whether now or hereafter in effect.

 

“LC Disbursement”
means a payment made by the Issuing Lender pursuant to a Letter of Credit.

 

“LC Exposure”
means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit at such time plus (b)
the aggregate amount of all LC Disbursements that have not yet been reimbursed by or on behalf of the Borrowers at such time. The
LC Exposure of any Lender at any time shall be its Applicable Percentage of the total LC Exposure at such time.

 

“Lead Arranger”
means J.P. Morgan Securities LLC, in its capacity as Lead Arranger.

 

“Lease Expense”
for any period shall mean gross operating lease obligations of the Company and its Restricted Subsidiaries for any relevant period
for which such calculation is being utilized.

 

“Lenders”
means the Persons listed on Schedule 2.01 and any other Person that shall have become a Lender hereto pursuant to an Assignment
and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. Unless the
context requires otherwise, the term “Lenders” includes the Swingline Lender.

 

“Letter of Credit”
means any letter of credit issued pursuant to this Agreement.

 

“Leverage Ratio”
means, on any date, the ratio of (a) Total Indebtedness as of such date to (b) Consolidated EBITDA for the period of four consecutive
Fiscal Quarters ended on such date (or, if such date is not the last day of a Fiscal Quarter, ended on the last day of the Fiscal
Quarter mostly recently ended prior to such date); provided, that for purposes of determining the Leverage Ratio, all references
in the definitions of Total Indebtedness and Consolidated EBITDA (and in the definitions used therein) to Restricted Subsidiaries
shall be deemed references to Subsidiaries.

 

    	-17-

    	 

    

 

“LIBO Rate”
means, (a) with respect to any Eurodollar Borrowing for any Interest Period, the rate appearing on the Reuters Screen LIBOR01
page (or on any successor or substitute page of such Service, or any successor to or substitute for such Service, providing rate
quotations comparable to those currently provided on such page of such Service, as determined by the Administrative Agent from
time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market)
at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, as the rate for
dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not available at such time for
any reason, then the “LIBO Rate” with respect to such Eurodollar Borrowing for such Interest Period shall be
the rate at which dollar deposits of $5,000,000 and for a maturity comparable to such Interest Period are offered by the principal
London office of the Administrative Agent in immediately available funds in the London interbank market at approximately 11:00
a.m., London time, two Business Days prior to the commencement of such Interest Period and (b) with respect to the calculation
of clause (c) in the definition of Alternate Base Rate, the LIBO Rate determined in accordance with the methods specified in clause
(a) above but at approximately 11:00 a.m., London time, on each Business Day for delivery on such Business Day.

 

“Lien”
means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security
interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease
or title retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating
to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such
securities. For the purposes of this Agreement and the other Loan Documents, the Company or any Subsidiary shall be deemed to be
the owner of any Property which it has acquired or holds subject to a conditional sale agreement, financing lease or other arrangement
pursuant to which title to the Property has been retained by or vested in some other Person for security purposes.

 

“Loan Documents”
means this Agreement, each Borrowing Subsidiary Agreement, each Borrowing Subsidiary Termination, the Indemnity Subrogation and
Contribution Agreement, any applications for Letters of Credit and reimbursement agreements relating thereto, the Security Documents
and any promissory note issued pursuant to Section 2.09.

 

“Loan Parties”
means each Borrower and each Subsidiary that is party to any Loan Document.

 

“Loans”
means the loans (including Revolving Loans and Swingline Loans) made by the Lenders to the Borrowers pursuant to this Agreement.

 

“Material Adverse
Effect” means any event, development or circumstance that has had or could reasonably be expected to have a material
adverse effect on (a) the business, assets, property or condition (financial or otherwise) of the Company and the Subsidiaries
taken as a whole, or (b) the validity or enforceability of any of the Loan Documents or the rights or remedies of the Administrative
Agent or the Lenders.

 

“Material Domestic
Subsidiary” means a Domestic Subsidiary that either (a) generates 5% or more of the EBITDA of the Company and the
Subsidiaries on a consolidated basis or (b) holds assets that constitute 5% or more of the all assets of the Company and the
Subsidiaries as a whole.

 

    	-18-

    	 

    

 

“Material Indebtedness”
means Indebtedness (other than the Loans and Letters of Credit), or obligations in respect of one or more Swap Agreements, of any
one or more of the Company and its Restricted Subsidiaries in an aggregate principal amount exceeding $25,000,000. For purposes
of determining Material Indebtedness, the “principal amount” of the obligations of the Company or any Restricted Subsidiary
in respect of any Swap Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that
the Company or such Restricted Subsidiary would be required to pay if such Swap Agreement were terminated at such time.

 

“Maturity Date”
means July 30, 2017.

 

“Moody’s”
means Moody’s Investors Service, Inc.

 

“Multiemployer
Plan” means a multiemployer plan as defined in Section 4001(a)(3) of ERISA.

 

“Net Proceeds”
means, with respect to any event, the proceeds received in respect of such event net of all brokerage commissions, reasonable fees
and out-of-pocket expenses paid by the Company to third parties (other than Affiliates) in connection with such event.

 

“New Lender”
has the meaning set forth in Section 2.19(b).

 

“New Lender
Agreement” means an agreement among the Borrower, the Administrative Agent and a New Lender in substantially in the form
of Exhibit 1.01F or a form that is reasonably satisfactory to the Administrative Agent.

 

“Non-Consenting
Lender” means any Lender that does not approve any consent, waiver or amendment that (a) requires the approval of
all affected Lenders in accordance with the terms of Section 9.02 and (b) has been approved by the Required Lenders.

 

“Non-Defaulting
Lender” means, at any time, each Lender that is not a Defaulting Lender at such time.

 

“Obligations”
means (a) the due and punctual payment by the Borrowers or the applicable Loan Parties of (i) the principal of and premium, if
any, and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar
proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans, when and as due, whether at maturity,
by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrowers
under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements,
interest thereon and obligations to provide cash collateral and (iii) all other monetary obligations, including fees, costs, expenses
and indemnities, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during
the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable
in such proceeding), of the Loan Parties to the Secured Parties under this Agreement and the other Loan Documents, (b) the due
and punctual payment and performance of all covenants, agreements, obligations and liabilities of the Loan Parties, monetary or
otherwise, under or pursuant to this Agreement and the other Loan Documents, (c) the due and punctual payment of all obligations
of the Company under each Swap Agreement entered into (i) prior to the Effective Date with any counterparty that is a Lender (or
an Affiliate thereof) on the Effective Date or (ii) on or after the Effective Date with any counterparty that is a Lender (or an
Affiliate thereof) at the time such Swap Agreement is entered into and (d) the due and punctual payment of all obligations of the
Company or any Subsidiary in respect of Bank Products.

 

    	-19-

    	 

    

 

“OFAC”
means Office of Foreign Assets Control of the United States Department of the Treasury.

 

“Order”
means an order, writ, judgment, award, injunction, decree, ruling or decision of any Governmental Authority or arbitrator.

 

“Original Credit
Agreement” has the meaning set forth in the Preliminary Statement.

 

“Other Connection
Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such
Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered,
become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged
in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).

 

“Other Taxes”
means any and all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from
any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection
of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection
Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 2.18(b)).

 

“Participant”
has the meaning set forth in Section 9.04(c).

 

“Participant
Register” has the meaning set forth in Section 9.04(c).

 

“PBGC”
means the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor entity performing similar functions.

 

“Permitted Encumbrances”
means:

 

(a)          Liens
imposed by law for Taxes that are not yet due or are being contested in compliance with Section 5.05;

 

(b)          carriers’,
warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like Liens imposed by law, arising in
the ordinary course of business and securing obligations that are not overdue by more than 90 days or are being contested in compliance
with Section 5.05;

 

    	-20-

    	 

    

 

(c)          pledges
and deposits made in the ordinary course of business in compliance with workers’ compensation, unemployment insurance and
other social security laws or regulations;

 

(d)          deposits
to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and
other obligations of a like nature, in each case in the ordinary course of business;

 

(e)          judgment
liens in respect of judgments that do not constitute an Event of Default under clause (k) of Article VII;

 

(f)          easements,
zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of
business that do not secure any monetary obligations and do not materially detract from the value of the affected property or interfere
with the ordinary conduct of business of the Company or any Subsidiary;

 

(g)          any
obligations or duties affecting any of the property of the Company or the Subsidiaries to any municipality or public authority
with respect to any franchise, grant, license or permit which do not materially impair the use of such property for the purposes
for which it is held;

 

(h)          Liens
arising from precautionary UCC financing statements regarding operating leases; and

 

(i)        
  Liens arising out of consignment or similar arrangements for the sale of goods entered into by the Company or any
of its Subsidiaries in the ordinary course of business.

 

provided that the term “Permitted Encumbrances”
shall not include any Lien securing Indebtedness.

 

“Permitted Foreign
Investments” means investments in certificates of deposit, banker’s acceptances and time deposits maturing within
364 days from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued
or offered by any office of any commercial bank organized under the laws of any jurisdiction outside of the United States of America.

 

“Permitted Investments”
means:

 

(a)          direct
obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of America
(or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States of America),
in each case maturing within one year from the date of acquisition thereof;

 

(b)          investments
in commercial paper maturing within one year from the date of acquisition thereof and having, at such date of acquisition, the
highest credit rating obtainable from S&P or from Moody’s;

 

    	-21-

    	 

    

 

(c)          investments
in certificates of deposit, banker’s acceptances and time deposits maturing within 364 days from the date of acquisition
thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, any domestic office of
any commercial bank organized under the laws of the United States of America or any State thereof which (i) has a combined capital
and surplus and undivided profits of not less than $500,000,000 and (ii) has short-term credit ratings of at least A1 and P1 by
S&P and Moody’s, respectively;

 

(d)          fully
collateralized repurchase agreements with a term of not more than 30 days for securities described in clause (a) above and entered
into with a financial institution satisfying the criteria described in clause (c) above; provided that the Company
shall take possession of all securities purchased by the Company or any Subsidiary under repurchase agreements and shall adhere
to customary margin and mark-to-market procedures with respect to fluctuations in value; and

 

(e)          money
market funds that (i) comply with the criteria set forth in Securities and Exchange Commission Rule 2a-7 under the Investment Company
Act of 1940, (ii) are rated AAA by S&P and Aaa by Moody’s or invest solely in the assets described in clauses (a)
through (d) above and (iii) have portfolio assets of at least $5,000,000,000;

 

(f)          municipal
(tax-exempt) investments with a rating of AAA or equivalent rating from at least two of Moody’s, S&P and Fitch, and a
maximum maturity of one year (for securities where the interest rate is adjusted periodically (e.g. floating rate securities),
the interest rate reset date will be used to determine the maturity date); and

 

(g)          variable
rate notes issued by, or guaranteed by, any state agency, municipality or domestic corporation rated A-1 (or the equivalent thereof)
or better by S&P or P-1 (or the equivalent thereof) or better by Moody’s and maturing within 364 days from the date of
acquisition (the interest rate reset date will be used to determine the maturity date).

 

“Person”
means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental
Authority or other entity.

 

“Plan”
means any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section
412 of the Code or Section 302 of ERISA, and in respect of which the Company or any ERISA Affiliate is (or, if such plan were terminated,
would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA.

 

“Pledge Agreements”
means (a) the Pledge Agreement dated August 24, 1999 and executed in connection with the Original Credit Agreement among the Company,
the Subsidiaries from time to time party thereto and the Collateral Agent and (b) in connection with pledges of shares of or other
equity interests in Foreign Subsidiaries, other pledge agreements or similar agreements in form and substance satisfactory to the
Collateral Agent, as the same may be amended, modified or supplemented from time to time in accordance with the provisions hereof.

 

“Prime Rate”
means the rate of interest per annum publicly announced from time to time by JPMorgan Chase Bank, N.A. as its prime rate in effect
at its principal office in New York City; each change in the Prime Rate shall be effective from and including the date such change
is publicly announced as being effective.

 

    	-22-

    	 

    

 

“Prohibited
Person” means any Person (a) listed in the Annex to the Executive Order or identified pursuant to Section 1 of the Executive
Order; (b) that is owned or controlled by, or acting for or on behalf of, any Person listed in the Annex to the Executive Order
or identified pursuant to the provisions of Section 1 of the Executive Order; (c) with whom a Lender is prohibited from dealing
or otherwise engaging in any transaction by any terrorism or anti-laundering law, including the Executive Order; (d) who commits,
threatens, conspires to commit, or support “terrorism” as defined in the Executive Order; (e) who is named as a “Specially
designated national or blocked person” on the most current list published by the OFAC at its official website, at http://www.treas.gov/offices/enforcement/ofac/sdn/t11sdn.pdf
or any replacement website or other replacement official publication of such list; or (f) who is owned or controlled by a
Person listed above in clause (c) or (e).

 

“Qualified Foreign
Subsidiary Holding Company” means a Domestic Subsidiary that does not own any assets other than, or engage in any business
or activity other than the ownership of, Equity Interests of one or more Foreign Subsidiaries and that does not have any Indebtedness
or liabilities other than (a) liabilities incidental to its ownership of such Equity Interests and (b) liabilities as a Guarantor
of the Obligations.

 

“Quarterly Dates”
means the last day of each March, June, September and December in each year.

 

“Re-Allocation
Date” has the meaning set forth in Section 2.19(e).

 

“Recipient”
means (a) the Administrative Agent, (b) any Lender and (c) the Issuing Lender, as applicable.

 

“Register”
has the meaning set forth in Section 9.04(b).

 

“Related Parties”
means, with respect to any specified Person, such Person’s Affiliates and the respective directors, officers, employees,
agents and advisors of such Person and such Person’s Affiliates.

 

“Required Lenders”
means, at any time, Lenders having Revolving Exposures and unused Commitments representing at least 51% of the sum of the total
Revolving Exposures and unused Commitments at such time. The Revolving Exposures and unused Commitments of any Defaulting Lender
shall be disregarded in determining Required Lenders at any time.

 

“Restricted
Payment” means any dividend or other distribution (whether in cash, securities or other property) with respect to any
Equity Interests in the Company or any Subsidiary, or any payment (whether in cash, securities or other property), including any
sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of
any such Equity Interests in the Company or any option, warrant or other right to acquire any such Equity Interests in the Company.

 

    	-23-

    	 

    

 

“Restricted
Subsidiary” means any Subsidiary that is not an Unrestricted Subsidiary.

 

“Revolving Exposure”
means, with respect to any Lender at any time, the sum of the (a) outstanding principal amount of such Lender’s Revolving
Loans and (b) such Lender’s LC Exposure and Swingline Exposure, in each case at such time.

 

“Revolving Loan”
means a Loan made pursuant to Section 2.01.

 

“S&P”
means Standard & Poor’s Rating Services, a division of The McGraw-Hill Companies, Inc. and any successor thereto.

 

“Second Amended
and Restated Agreement” has the meaning set forth in the Preliminary Statement.

 

“Secured Parties”
means the Administrative Agent, the Collateral Agent, each Lender, the Issuing Lender and each other Person to which any of the
Obligations is owed.

 

“Security Agreements”
means (a) the Security Agreement dated August 24, 1999 and executed in connection with the Original Credit Agreement among the
Company, the Domestic Subsidiaries from time to time party thereto and the Collateral Agent for the benefit of the Secured Parties
and (b) in connection with the creation of security interests in the assets of Foreign Subsidiaries, other security agreements
or similar agreements in form and substance satisfactory to the Collateral Agent, as the same may be ratified, amended, modified
or supplemented from time to time in accordance with the provisions hereof.

 

“Security Documents”
means the Security Agreements, the Pledge Agreements, the Guarantee Agreements, the Joinder to, Ratification and Amendment of Guarantee
Agreements, the Joinder to, Ratification and Amendment of Pledge Agreement, the Joinder to, Ratification and Amendment of Security
Agreement, the Joinder to, Ratification and Amendment of the Indemnity Subrogation and Contribution Agreement and each other security
document or pledge agreement delivered pursuant to Section 5.11 or Section 5.13 to secure any of the Obligations
or in accordance with applicable local or foreign law to grant a valid, perfected security interest in any property, and all UCC
or other financing statements or instruments of perfection required by this Agreement or any security agreement to be filed with
respect to the security interests in property and fixtures created pursuant to the Security Agreement and any other document or
instrument utilized to pledge as collateral for the Obligations any property of whatever kind or nature.

 

“Statutory Reserve
Rate” means a fraction (expressed as a decimal), the numerator of which is the number one and the denominator of which
is the number one minus the aggregate of the maximum reserve percentage (including any marginal, special, emergency or supplemental
reserves) expressed as a decimal established by the Board to which the Administrative Agent is subject with respect to the Adjusted
LIBO Rate, for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board).
Such reserve percentage shall include those imposed pursuant to such Regulation D. Eurodollar Loans shall be deemed to constitute
eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets
that may be available from time to time to any Lender under such Regulation D or any comparable regulation. The Statutory Reserve
Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage.

 

    	-24-

    	 

    

 

“Subordinated
Indebtedness” means subordinated debt securities issued by the Company that (a) are subordinated to the Obligations pursuant
to subordination provisions approved by Administrative Agent, (b) contain covenants, events of default and mandatory redemption,
repayment, prepayment or repurchase requirements approved by Administrative Agent, and (c) do not mature, and are not subject to
any scheduled amortization, redemption, repayment, prepayment or repurchase requirement, prior to the date one year after the Maturity
Date.

 

“subsidiary”
means, with respect to any Person (the “parent”) at any date, any corporation, limited liability company, partnership,
association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated
financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any other corporation,
limited liability company, partnership, association or other entity (a) of which Equity Interests representing more than 50% of
the equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership
interests are, as of such date, owned, controlled or held, or (b) that is, as of such date, otherwise Controlled, by the parent
or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent.

 

“Subsidiary”
means any subsidiary of the Company.

 

“Swap Agreement”
means any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving,
or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic,
financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination
of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services
provided by current or former directors, officers, employees or consultants of the Company or the Subsidiaries shall be a Swap
Agreement.

 

“Swingline Exposure”
means, at any time, the aggregate principal amount of all Swingline Loans outstanding at such time. The Swingline Exposure of any
Lender at any time shall be its Applicable Percentage of the total Swingline Exposure at such time.

 

“Swingline Lender”
means JPMorgan Chase Bank, N.A., in its capacity as lender of Swingline Loans hereunder.

 

“Swingline Loan”
means a Loan made pursuant to Section 2.04.

 

“Taxes”
means any and all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments,
fees or other charges imposed by any Governmental Authority including any interest, additions to tax or penalties applicable thereto.

 

    	-25-

    	 

    

 

“Third Amended
and Restated Agreement” has the meaning set forth in the Preliminary Statement.

 

“Total Indebtedness”
means, as of any date, the sum of (a) the aggregate principal amount of Indebtedness of the Company and its Restricted Subsidiaries
outstanding as of such date, in the amount that would be reflected on a balance sheet prepared as of such date on a consolidated
basis in accordance with GAAP, plus (b) the aggregate principal amount of Indebtedness of the Company and its Restricted Subsidiaries
outstanding as of such date that is not required to be reflected on a balance sheet in accordance with GAAP, determined on a consolidated
basis; provided that, (i) for purposes of clause (b) above, the term “Indebtedness” shall not include contingent
obligations of the Company or any Restricted Subsidiary as an account party in respect of any letter of credit or letter of guaranty
unless such letter of credit or letter of guaranty supports an obligation that constitutes Indebtedness and (ii)
solely for purposes of calculating the Leverage Ratio but not for any other purpose, all references to Restricted Subsidiaries
in this definition and in the definitions referred to herein shall be deemed references to Subsidiaries.

 

“Transactions”
means the execution, delivery and performance by the Borrowers of this Agreement, the execution, delivery and performance by the
Loan Parties of the other Loan Documents, the borrowing of Loans, the use of the proceeds thereof and the issuance of Letters of
Credit hereunder.

 

“Type”,
when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising
such Borrowing, is determined by reference to the Adjusted LIBO Rate or the Alternate Base Rate.

 

“UCC”
means the Uniform Commercial Code as from time to time in effect in the State of Texas or, where applicable as to specific Collateral,
any other relevant state.

 

“Unrestricted
Subsidiary” means (i) any Foreign Subsidiary of the Company that at the time of determination shall have been designated
as an Unrestricted Subsidiary by the Company in the manner provided below (and shall not subsequently have been designated as a
Restricted Subsidiary) and (ii) any subsidiary of an Unrestricted Subsidiary. The Company may from time to time designate any Foreign
Subsidiary (other than a Foreign Subsidiary that, immediately after such designation, shall hold any Indebtedness of or Equity
Interest in the Company or any Restricted Subsidiary) as an Unrestricted Subsidiary, and may designate any Unrestricted Subsidiary
as a Restricted Subsidiary so long as, immediately after giving effect to such designation, no Default shall have occurred and
be continuing. Any designation by the Company pursuant to this definition shall be made in an officer’s certificate delivered
to the Administrative Agent and containing a certification that such designation is in compliance with the terms of this definition.
Notwithstanding the foregoing, no Borrowing Subsidiary shall at any time be an Unrestricted Subsidiary. Schedule 1.01 contains
a list of the Subsidiaries that are or have been designated by the Company as Unrestricted Subsidiaries as of the Effective Date.

 

“USA PATRIOT
Act” has the meaning set forth in Section 9.16.

 

    	-26-

    	 

    

 

“U.S. Person”
means a “United States person” within the meaning of Section 7701(a)(30) of the Code.

 

“U.S. Tax
Compliance Certificate” has the meaning assigned to such term in Section 2.16(f)(ii)(B)(3).

 

“Wholly Owned
Subsidiary” means any Subsidiary of the Company all the Equity Interests of which (other than directors’ qualifying
shares and Equity Interests held by other than the Persons to the extent such Equity Interests are required by applicable law to
be held by a Person other than the Company or one of its Subsidiaries) is owned by the Company or one or more Wholly Owned Subsidiaries.

 

“Withdrawal
Liability” means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer
Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA.

 

Section
1.02         Terms Generally. The definitions of terms herein shall
apply equally to 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. The words “include”, “includes” and “including”
shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed
to have the same meaning and effect as the word “shall”. Unless the context requires otherwise (a) any definition
of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument
or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments,
supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s
successors and assigns, (c) the words “herein”, “hereof” and “hereunder”, and words of similar
import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references
herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and
Schedules to, this Agreement and (e) the words “asset” and “property” shall be construed to have the same
meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts
and contract rights.

 

Section
1.03         Accounting Terms; GAAP. Except as otherwise expressly
provided herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from
time to time; provided that, if the Company notifies the Administrative Agent that the Company requests an amendment to
any provision hereof to eliminate the effect of any change occurring after the Effective Date in GAAP or in the application thereof
on the operation of such provision (or if the Administrative Agent notifies the Company that the Required Lenders request an amendment
to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP
or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately
before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance
herewith. Notwithstanding any other provision contained herein, all terms of an accounting or financial nature used herein shall
be construed, and all computations of amounts and ratios referred to herein shall be made (i) without giving effect to any election
under Accounting Standards Codification 825-10-25 (or any other Accounting Standards Codification or Financial Accounting Standard
having a similar result or effect) to value any Indebtedness or other liabilities of the Company or any Subsidiary at “fair
value”, as defined therein and (ii) without giving effect to any treatment of Indebtedness in respect of convertible debt
instruments under Accounting Standards Codification 470-20 (or any other Accounting Standards Codification or Financial Accounting
Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein,
and such Indebtedness shall at all times be valued at the full stated principal amount thereof.

 

    	-27-

    	 

    

 

Section
1.04         Classification of Loans and Borrowings.
For purposes of this Agreement, Loans may be classified and referred to by Class (e.g., a “Revolving Loan”)
or by Type (e.g., a “Eurodollar Loan”) or by Class and Type (e.g., a “Eurodollar Revolving Loan”).
Borrowings also may be classified and referred to by Class (e.g., a “Revolving Borrowing”) or by Type (e.g.,
a “Eurodollar Borrowing”) or by Class and Type (e.g., a “Eurodollar Revolving Borrowing”).

 

ARTICLE
II

 

The Credits

 

Section
2.01         Commitments. Subject to the terms and conditions set forth
herein each Lender agrees to make Revolving Loans to any Borrower from time to time during the Availability Period in an aggregate
principal amount that will not result in (i) such Lender’s Revolving Exposure exceeding such Lender’s Commitment or
(ii) in the case of any Foreign Borrower, the sum of the aggregate outstanding principal amount of the Loans of all Foreign Borrowers
exceeding $20,000,000. Within the foregoing limits and subject to the terms and conditions set forth herein, any Borrower may
borrow, prepay and reborrow Revolving Loans.

 

Section
2.02         Loans and Borrowings.

 

(a)          Each
Revolving Loan shall be made as part of a Borrowing consisting of Loans of the same Type made by the Lenders ratably in accordance
with their respective Commitments. The failure of any Lender to make any Loan required to be made by it shall not relieve any other
Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no Lender shall be responsible
for any other Lender’s failure to make Loans as required.

 

(b)          Subject
to Section 2.13, each Borrowing shall be comprised entirely of ABR Loans or Eurodollar Loans as such Borrower may request
in accordance herewith. Each Swingline Loan shall be an ABR Loan. Each Lender at its option may make any Eurodollar Loan by causing
any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option
shall not affect the obligation of the applicable Borrower to repay such Loan in accordance with the terms of this Agreement.

 

    	-28-

    	 

    

 

(c)          At
the commencement of each Interest Period for any Eurodollar Borrowing, such Borrowing shall be in an aggregate amount that is an
integral multiple of $500,000 and not less than $1,000,000. At the time that each ABR Borrowing is made, such Borrowing shall be
in an aggregate amount that is an integral multiple of $500,000; provided that an ABR Borrowing may be in an aggregate amount
that is equal to (i) the entire unused balance of the total Commitments, (ii) that which is required to repay a Swingline
Loan or (iii) that which is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.05(e).
Borrowings of more than one Type may be outstanding at the same time; provided that there shall not at any time be more
than a total of eight Eurodollar Borrowings outstanding.

 

(d)          Notwithstanding
any other provision of this Agreement, no Borrower shall be entitled to request, or to elect to convert or continue, any Borrowing
if the Interest Period requested with respect thereto would end after the Maturity Date.

 

Section
2.03         Requests for Borrowings. To request a Borrowing, the applicable
Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later
than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing or (b) in the case of an ABR
Borrowing, not later than 10:00 a.m., New York City time, on the date of the proposed Borrowing. Each such telephonic Borrowing
Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written
Borrowing Request signed by the applicable Borrower. Each such telephonic and written Borrowing Request shall specify the following
information in compliance with Section 2.02:

 

(i)          the
aggregate amount of the requested Borrowing;

 

(ii)         the
date of such Borrowing, which shall be a Business Day;

 

(iii)        whether
such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;

 

(iv)        in
the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated
by the definition of the term “Interest Period”;

 

(v)         the
Borrower requesting such Borrowing; and

 

(vi)        the
location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements
of Section 2.06(a).

 

If no election as to the Type of Borrowing is specified, then
the requested Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar
Borrowing, then the applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly
following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender of
the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.

 

    	-29-

    	 

    

 

Section
2.04         Swingline Loans.

 

(a)          Subject
to the terms and conditions set forth herein, the Swingline Lender agrees to make Swingline Loans to the Company from time to time
during the Availability Period, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate
principal amount of outstanding Swingline Loans exceeding $10,000,000 or (ii) the sum of the total Revolving Exposures exceeding
the total Commitments; provided that the Swingline Lender shall not be required to make a Swingline Loan to refinance an
outstanding Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Company may
borrow, prepay and reborrow Swingline Loans. Each Swingline Loan shall be in an amount that is not less than $100,000.

 

(b)          To
request a Swingline Loan, the Company shall notify the Administrative Agent of such request by telephone (confirmed by telecopy),
not later than 12:00 noon, New York City time, on the day of a proposed Swingline Loan. Each such notice shall be irrevocable and
shall specify the requested date (which shall be a Business Day) and amount of the requested Swingline Loan. The Administrative
Agent will promptly advise the Swingline Lender of any such notice received from the Company. The Swingline Lender shall make each
Swingline Loan available to the Company by means of a credit to the general deposit account of the Company with the Swingline Lender
(or, in the case of a Swingline Loan made to finance the reimbursement of an LC Disbursement as provided in Section 2.05(e),
by remittance to the Issuing Lender) by 3:00 p.m., New York City time, on the requested date of such Swingline Loan.

 

(c)          The
Swingline Lender may by written notice given to the Administrative Agent not later than 10:00 a.m., New York City time, on
any Business Day require the Lenders to acquire participations on such Business Day in all or a portion of the Swingline Loans
outstanding. Such notice shall specify the aggregate amount of Swingline Loans in which Lenders will participate. Promptly upon
receipt of such notice, the Administrative Agent will give notice thereof to each Lender, specifying in such notice such Lender’s
Applicable Percentage of such Swingline Loan or Loans. Each Lender hereby absolutely and unconditionally agrees, upon receipt of
notice as provided above, to pay to the Administrative Agent, for the account of the Swingline Lender, such Lender’s Applicable
Percentage of such Swingline Loan or Loans. Each Lender acknowledges and agrees that its obligation to acquire participations in
Swingline Loans pursuant to this paragraph is absolute and unconditional and shall not be affected by any circumstance whatsoever,
including the occurrence and continuance of a Default or reduction or termination of the Commitments, and that each such payment
shall be made without any offset, abatement, withholding or reduction whatsoever. Each Lender shall comply with its obligation
under this paragraph by wire transfer of immediately available funds, in the same manner as provided in Section 2.06 with
respect to Revolving Loans made by such Lender (and Section 2.06 shall apply, mutatis mutandis, to the payment
obligations of the Lenders), and the Administrative Agent shall promptly pay to the Swingline Lender the amounts so received by
it from the Lenders. The Administrative Agent shall notify the Company of any participations in any Swingline Loan acquired pursuant
to this paragraph, and thereafter payments in respect of such Swingline Loan shall be made to the Administrative Agent and not
to the Swingline Lender. Any amounts received by the Swingline Lender from the Company (or other party on behalf of the Company)
in respect of a Swingline Loan after receipt by the Swingline Lender of the proceeds of a sale of participations therein shall
be promptly remitted to the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted
by the Administrative Agent to the Lenders that shall have made their payments pursuant to this paragraph and to the Swingline
Lender, as their interests may appear; provided that any such payment so remitted shall be repaid to the Swingline Lender
or to the Administrative Agent, as applicable, if and to the extent such payment is required to be refunded to the Company for
any reason. The purchase of participations in a Swingline Loan pursuant to this paragraph shall not relieve the Company of any
default in the payment thereof.

 

    	-30-

    	 

    

 

Section
2.05         Letters of Credit.

 

(a)          General.
Subject to the terms and conditions set forth herein, the Company may request the issuance of Letters of Credit for its own account
or for the joint and several account of the Company and a Borrowing Subsidiary in a form reasonably acceptable to the Administrative
Agent and the Issuing Lender, at any time and from time to time during the Availability Period. Such Letters of Credit may be used
for the benefit of any Subsidiary and may identify such Subsidiary in the text thereof so long as either the Company or any Borrowing
Subsidiary is the account party thereon. In the event of any inconsistency between the terms and conditions of this Agreement and
the terms and conditions of any form of letter of credit application or other agreement submitted by the Company to, or entered
into by the Company with, the Issuing Lender relating to any Letter of Credit, the terms and conditions of this Agreement shall
control.

 

(b)          Notice
of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment,
renewal or extension of an outstanding Letter of Credit), the Company shall hand deliver or telecopy (or transmit by electronic
communication, if arrangements for doing so have been approved by the Issuing Lender) to the Issuing Lender and the Administrative
Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance
of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance,
amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall
comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof
and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the
Issuing Lender, the Company also shall submit a letter of credit application on the Issuing Lender’s standard form in connection
with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance,
amendment, renewal or extension of each Letter of Credit the Company shall be deemed to represent and warrant that), after giving
effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $20,000,000 and (ii) the total Revolving
Exposures shall not exceed the total Commitments.

 

(c)          Expiration
Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i) the date one year after
the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after such renewal
or extension) and (ii) the date that is five Business Days prior to the Maturity Date; provided, however, that any
Letter of Credit with a one-year tenor may provide for the renewal thereof for additional one-year periods (which shall in no event
extend beyond the date referred to in clause (ii) above).

 

    	-31-

    	 

    

 

(d)          Participations.
By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further
action on the part of the Issuing Lender or the Lenders, the Issuing Lender hereby grants to each Lender, and each Lender hereby
acquires from the Issuing Lender, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage of
the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each
Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the Issuing Lender,
such Lender’s Applicable Percentage of each LC Disbursement made by the Issuing Lender and not reimbursed by the Company
on the date due as provided in paragraph (e) of this Section, or of any reimbursement payment required to be refunded to the Company
for any reason. Each Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in
respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including
any amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination
of the Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.

 

(e)          Reimbursement.
If the Issuing Lender shall make any LC Disbursement in respect of a Letter of Credit, the Company shall reimburse such LC Disbursement
by paying to the Administrative Agent an amount equal to such LC Disbursement not later than 12:00 noon, New York City time, on
the date that such LC Disbursement is made, if the Company shall have received notice of such LC Disbursement prior to 10:00 a.m.,
New York City time, on such date, or, if such notice has not been received by the Company prior to such time on such date, then
not later than 12:00 noon, New York City time, on the Business Day immediately following the day that the Company receives such
notice; provided that, if such LC Disbursement is not less than $100,000, the Company may, subject to the conditions to
borrowing set forth herein, request in accordance with Section 2.03 or Section 2.04 that such payment be financed
with an ABR Revolving Loan or a Swingline Loan in an equivalent amount, and to the extent so financed, the Company’s obligation
to make such payment shall be discharged and replaced by the resulting ABR Revolving Borrowing or Swingline Loan. If the Company
fails to make such payment when due, the Administrative Agent shall notify each Lender of the applicable LC Disbursement, the payment
then due from the Company in respect thereof and such Lender’s Applicable Percentage thereof. Promptly following receipt
of such notice, each Lender shall pay to the Administrative Agent its Applicable Percentage of the payment then due from the Company,
in the same manner as provided in Section 2.06 with respect to Loans made by such Lender (and Section 2.06 shall
apply, mutatis mutandis, to the payment obligations of the Lenders), and the Administrative Agent shall promptly pay to
the Issuing Lender the amounts so received by it from the Lenders. Promptly following receipt by the Administrative Agent of any
payment from the Company pursuant to this paragraph, the Administrative Agent shall distribute such payment to the Issuing Lender
or, to the extent that Lenders have made payments pursuant to this paragraph to reimburse the Issuing Lender, then to such Lenders
and the Issuing Lender as their interests may appear. Any payment made by a Lender pursuant to this paragraph to reimburse the
Issuing Lender for any LC Disbursement (other than the funding of ABR Revolving Loans or a Swingline Loan as contemplated above)
shall not constitute a Loan and shall not relieve the Company of its obligation to reimburse such LC Disbursement.

 

    	-32-

    	 

    

 

(f)          Obligations
Absolute. The Company’s obligation to reimburse LC Disbursements as provided in paragraph (e) of this Section shall be
absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any
and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any Letter of Credit or this
Agreement, or any term or provision therein, (ii) any draft or other document presented under a Letter of Credit proving to be
forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii) payment
by the Issuing Lender under a Letter of Credit against presentation of a draft or other document that does not comply with the
terms of such Letter of Credit, or (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing,
that might, but for the provisions of this Section, constitute a legal or equitable discharge of, or provide a right of setoff
against, the Company’s obligations hereunder. Neither the Administrative Agent, the Lenders nor the Issuing Lender, nor any
of their Related Parties, shall have any liability or responsibility by reason of or in connection with the issuance or transfer
of any Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred
to in the preceding sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any draft, notice
or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder),
any error in interpretation of technical terms or any consequence arising from causes beyond the control of the Issuing Lender;
provided that the foregoing shall not be construed to excuse the Issuing Lender from liability to the Company to the extent
of any direct damages (as opposed to special, indirect, consequential or punitive damages, claims in respect of which are hereby
waived by the Company to the extent permitted by applicable law) suffered by the Company that are caused by the Issuing Lender’s
failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply with the
terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part of
the Issuing Lender (as finally determined by a court of competent jurisdiction), the Issuing Lender shall be deemed to have exercised
care in each such determination. In furtherance of the foregoing and without limiting the generality thereof, the parties agree
that, with respect to documents presented which appear on their face to be in substantial compliance with the terms of a Letter
of Credit, the Issuing Lender may, in its sole discretion, either accept and make payment upon such documents without responsibility
for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such
documents if such documents are not in strict compliance with the terms of such Letter of Credit.

 

(g)          Disbursement
Procedures. The Issuing Lender shall promptly notify the Administrative Agent and the Company by telephone (confirmed by telecopy)
of any demand for payment under a Letter of Credit and whether the Issuing Lender has made or will make an LC Disbursement thereunder;
provided that any failure to give or delay in giving such notice shall not relieve the Company of its obligation to reimburse
the Issuing Lender and the Lenders with respect to any such LC Disbursement.

 

(h)          Interim
Interest. If the Issuing Lender shall make any LC Disbursement, then, unless the Company shall reimburse such LC Disbursement
in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including
the date such LC Disbursement is made to but excluding the date that the Company reimburses such LC Disbursement, at the rate per
annum then applicable to ABR Revolving Loans; provided that, if the Company fails to reimburse such LC Disbursement when
due pursuant to paragraph (e) of this Section, then Section 2.12(c) shall apply. Interest accrued pursuant to this paragraph
shall be for the account of the Issuing Lender, except that interest accrued on and after the date of payment by any Lender pursuant
to paragraph (e) of this Section to reimburse the Issuing Lender shall be for the account of such Lender to the extent of such
payment.

 

    	-33-

    	 

    

 

(i)          Replacement
of the Issuing Lender. The Issuing Lender may be replaced at any time by written agreement among the Company, the Administrative
Agent, the replaced Issuing Lender and the successor Issuing Lender. The Administrative Agent shall notify the Lenders of any such
replacement of the Issuing Lender. At the time any such replacement shall become effective, the Company shall pay all unpaid fees
accrued for the account of the replaced Issuing Lender pursuant to Section 2.11(b). From and after the effective date of
any such replacement, (i) the successor Issuing Lender shall have all the rights and obligations of the Issuing Lender under this
Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term “Issuing Lender”
shall be deemed to refer to such successor or to any previous Issuing Lender, or to such successor and all previous Issuing Lenders,
as the context shall require. After the replacement of an Issuing Lender hereunder, the replaced Issuing Lender shall remain a
party hereto and shall continue to have all the rights and obligations of an Issuing Lender under this Agreement with respect to
Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit.

 

(j)          Cash
Collateralization. If any Event of Default shall occur and be continuing, on the Business Day that the Company receives notice
from the Administrative Agent or the Required Lenders demanding the deposit of cash collateral pursuant to this paragraph, the
Company shall deposit in an account with the Administrative Agent, in the name of the Administrative Agent and for the benefit
of the Lenders, an amount of Cash Collateral equal to the LC Exposure as of such date plus any accrued and unpaid interest thereon;
provided that the obligation to deposit such Cash Collateral shall become effective immediately, and such deposit shall
become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default described
in clause (h) or (i) of ARTICLE VII. The Company also shall deposit Cash Collateral pursuant to this paragraph
as and to the extent required by Section 2.10(b). Each such deposit shall be held by the Administrative Agent as collateral
for the payment and performance of the obligations of the Company under this Agreement. The Administrative Agent shall have exclusive
dominion and control, including the exclusive right of withdrawal, over such account. Other than any interest earned on the investment
of such deposits, which investments shall be made at the option and sole discretion of the Administrative Agent and at the Company’s
risk and expense, such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such
account. Moneys in such account shall be applied by the Administrative Agent to reimburse the Issuing Lender for LC Disbursements
for which it has not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the reimbursement
obligations of the Company for the LC Exposure at such time or, if the maturity of the Loans has been accelerated (but subject
to the consent of Lenders with LC Exposure representing greater than 50% of the total LC Exposure), be applied to satisfy other
obligations of the Company under this Agreement. If the Company is required to provide an amount of Cash Collateral hereunder as
a result of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned to the
Company within three Business Days after all Events of Default have been cured or waived. If the Company is required to provide
an amount of cash collateral hereunder pursuant to Section 2.10(b), such amount (to the extent not applied as aforesaid)
shall be returned to the Company as and to the extent that, after giving effect to such return, the Company would remain in compliance
with Section 2.10(b) and no Default shall have occurred and be continuing.

 

    	-34-

    	 

    

 

(k)          Cash
Collateralization upon Termination of Commitments. In the event that the Company terminates the Commitments pursuant to Section
2.08 and there are outstanding Letters of Credit at such time, the Company shall pledge to, and deposit in an account with,
the Issuing Lender an amount of Cash Collateral equal to the aggregate face amount of such Letters of Credit.

 

Section
2.06         Funding of Borrowings.

 

(a)          Each
Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available funds
by 12:00 noon, New York City time, to the account of the Administrative Agent most recently designated by it for such purpose by
notice to the Lenders; provided that Swingline Loans shall be made as provided in Section 2.04. The Administrative
Agent will make such Loans available to the applicable Borrower by promptly crediting the amounts so received, in like funds, to
an account of the Borrower maintained with the Administrative Agent and designated by such Borrower in the applicable Borrowing
Request; provided that ABR Revolving Loans or Swingline Loans made to finance the reimbursement of an LC Disbursement as
provided in Section 2.05(e) shall be remitted by the Administrative Agent to the Issuing Lender.

 

(b)          Unless
the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender
will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume
that such Lender has made such share available on such date in accordance with paragraph (a) of this Section and may, in reliance
upon such assumption, make available to the applicable Borrower a corresponding amount. In such event, if a Lender has not in fact
made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the applicable
Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon,
for each day from and including the date such amount is made available to such Borrower to but excluding the date of payment to
the Administrative Agent, at (i) in the case of such Lender, the greater of the Federal Funds Effective Rate and a rate determined
by the Administrative Agent in accordance with banking industry rules on interbank compensation or (ii) in the case of the applicable
Borrower, the interest rate applicable to ABR Loans. If such Lender pays such amount to the Administrative Agent, then such amount
shall constitute such Lender’s Loan included in such Borrowing.

 

Section
2.07         Interest Elections.

 

(a)          Each
Revolving Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar
Revolving Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the applicable Borrower
may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurodollar Borrowing,
may elect Interest Periods therefor, all as provided in this Section. Each Borrower may elect different options with respect to
different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding
the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. This
Section shall not apply to Swingline Loans, which may not be converted or continued.

 

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(b)          To
make an election pursuant to this Section, the applicable Borrower shall notify the Administrative Agent of such election by telephone
by the time that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Borrowing of
the Type resulting from such election to be made on the effective date of such election. Each such telephonic Interest Election
Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written
Interest Election Request in a form approved by the Administrative Agent and signed by the applicable Borrower.

 

(c)          Each
telephonic and written Interest Election Request shall specify the following information in compliance with Section 2.02:

 

(i)          the
Borrowing to which such Interest Election Request applies and, if different options are being elected with respect to different
portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified
pursuant to clauses (iii) and (iv) below shall be specified for each resulting Borrowing);

 

(ii)         the
effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day;

 

(iii)        whether
the resulting Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; and

 

(iv)        if
the resulting Borrowing is a Eurodollar Borrowing, the Interest Period to be applicable thereto after giving effect to such election,
which shall be a period contemplated by the definition of the term “Interest Period”.

 

If any such Interest Election Request requests a Eurodollar
Borrowing but does not specify an Interest Period, then the applicable Borrower shall be deemed to have selected an Interest Period
of one month’s duration.

 

(d)          Promptly
following receipt of an Interest Election Request, the Administrative Agent shall advise each Lender of the details thereof and
of such Lender’s portion of each resulting Borrowing.

 

(e)          If
the applicable Borrower fails to deliver a timely Interest Election Request with respect to a Eurodollar Borrowing prior to the
end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest
Period such Borrowing shall be converted to an ABR Borrowing. Notwithstanding any contrary provision hereof, if an Event of Default
has occurred and is continuing and the Administrative Agent so notifies the Company, then, so long as an Event of Default is continuing
(i) no outstanding Borrowing may be converted to or continued as a Eurodollar Borrowing and (ii) unless repaid, each Eurodollar
Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto.

 

    	-36-

    	 

    

 

Section
2.08         Termination and Reduction of Commitments.

 

(a)          Unless
previously terminated, the Commitments shall terminate on the Maturity Date.

 

(b)          The
Company may at any time terminate or from time to time reduce the Commitments; provided that (i) each reduction of the Commitments
shall be in an amount that is an integral multiple of $5,000,000 and (ii) the Company shall not terminate or reduce the Commitments
if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.10, the sum of the Revolving
Exposures would exceed the total Commitments.

 

(c)          The
Company shall notify the Administrative Agent of any election to terminate or reduce the Commitments under paragraph (b) of this
Section at least three Business Days prior to the effective date of such termination or reduction, specifying such election and
the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the
contents thereof. Each notice delivered by the Company pursuant to this Section shall be irrevocable; provided that a notice
of termination of the Commitments delivered by the Company may state that such notice is conditioned upon the effectiveness of
other credit facilities, in which case such notice may be revoked by the Company (by notice to the Administrative Agent on or prior
to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Commitments shall be permanent.
Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their respective Commitments.

 

Section
2.09         Repayment of Loans; Evidence of Debt.

 

(a)          Each
Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the then unpaid principal
amount of each Revolving Loan of such Lender on the Maturity Date. The Company hereby unconditionally promises to pay to the Swingline
Lender the then unpaid principal amount of each Swingline Loan on the earlier of the Maturity Date and the fifteenth day of the
calendar month after such Swingline Loan is made; provided that on each date that a Revolving Borrowing is made, the Company
shall repay all Swingline Loans then outstanding.

 

(b)          Each
Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of each Borrower
to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to
such Lender from time to time hereunder.

 

(c)          The
Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and
Type thereof and the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become
due and payable from the Borrowers to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent
hereunder for the account of the Lenders and each Lender’s share thereof.

 

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(d)          The
entries made in the accounts maintained pursuant to paragraph (b) or (c) of this Section shall be prima facie evidence
of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative
Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of any Borrower to repay the
Loans in accordance with the terms of this Agreement.

 

(e)          Any
Lender may request that Loans made by it be evidenced by a promissory note. In such event, the applicable Borrower shall prepare,
execute and deliver to such Lender a promissory note payable to the order of such Lender (or, if requested by such Lender, to such
Lender and its registered assigns) and in a form approved by the Administrative Agent and the Company. Thereafter, the Loans evidenced
by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be
represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory
note is a registered note, to such payee and its registered assigns).

 

Section
2.10         Prepayment of Loans.

 

(a)          Each
Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to prior notice
in accordance with paragraph (c) of this Section.

 

(b)          In
the event and on each occasion that the sum of the Revolving Exposures exceeds the total Commitments, the Borrowers shall prepay
Borrowings (or, if no such Borrowings are outstanding, deposit cash collateral in an account with the Administrative Agent pursuant
to Section 2.05(j)) in an aggregate amount equal to such excess.

 

(c)          The
Company shall notify the Administrative Agent (and in the case of prepayment of a Swingline Loan, the Swingline Lender) by telephone
(confirmed by telecopy) of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 11:00
a.m., New York City time, three Business Days before the date of prepayment, (ii) in the case of prepayment of an ABR Revolving
Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the date of prepayment or (iii) in the case
of prepayment of a Swingline Loan, not later than 12:00 noon, New York City time, on the date of prepayment. Each such notice shall
be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid;
provided that, if a notice of optional prepayment is given in connection with a conditional notice of termination of the
Commitments as contemplated by Section 2.08, then such notice of prepayment may be revoked if such notice of termination
is revoked in accordance with Section 2.08. Promptly following receipt of any such notice relating to a Borrowing, the Administrative
Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would
be permitted in the case of an advance of a Borrowing of the same Type as provided in Section 2.02. Each prepayment
of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued
interest to the extent required by Section 2.12.

 

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Section
2.11         Fees.

 

(a)          The
Company shall pay to the Administrative Agent for the account of each Lender a commitment fee, which shall accrue at the Applicable
Margin on the daily amount of the unused Commitment of such Lender during the period from and including the Effective Date to but
excluding the date on which such Commitment terminates. Accrued commitment fees shall be payable in arrears on the third Business
Day following the last day of March, June, September and December of each year and on the date on which the Commitments terminate,
commencing on the first such date to occur after the Effective Date. All commitment fees shall be computed on the basis of a year
of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). For
purposes of calculating the unused Commitment of each Lender, Swingline Loans made by or deemed made or attributable to such Lender
shall not count as usage.

 

(b)          The
Company shall pay (i) to the Administrative Agent for the account of each Lender a participation fee with respect to its participations
in Letters of Credit, which shall accrue at the same Applicable Margin used to determine the interest rate applicable to Eurodollar
Loans on the average daily amount of such Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed
LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which such
Lender’s Commitment terminates and the date on which it ceases to have any LC Exposure, and (ii) to the Issuing Lender a
fronting fee, which shall accrue at the rate of 0.125% per annum on the average daily amount of the LC Exposure (excluding any
portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding
the later of the date of termination of the Commitments and the date on which there ceases to be any LC Exposure, as well as the
Issuing Lender’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing
of drawings thereunder. Participation fees and fronting fees accrued through and including the last day of March, June, September
and December of each year shall be payable on the third Business Day following such last day, commencing on the first such date
to occur after the Effective Date; provided that all such fees shall be payable on the date on which the Commitments terminate
and any such fees accruing after the date on which the Commitments terminate shall be payable on demand. Any other fees payable
to the Issuing Lender pursuant to this paragraph shall be payable within 10 days after demand. All participation fees and fronting
fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including
the first day but excluding the last day).

 

(c)          The
Company shall pay to the Administrative Agent, for its own account, fees payable in the amounts and at the times set forth in the
Fee Letter.

 

(d)          All
fees payable hereunder shall be paid on the dates due, in immediately available funds, to the Administrative Agent (or to the Issuing
Lender, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Lenders.
Fees paid shall not be refundable under any circumstances.

 

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Section
2.12         Interest.

 

(a)          The
Loans comprising each ABR Borrowing (including each Swingline Loan) shall bear interest at the Alternate Base Rate plus the Applicable
Margin.

 

(b)          The
Loans comprising each Eurodollar Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for
such Borrowing plus the Applicable Margin.

 

(c)          Notwithstanding
the foregoing, if any principal of or interest on any Loan or any fee or other amount payable by a Borrower hereunder is not paid
when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest, after as well as
before judgment, at a rate per annum equal to (i) in the case of overdue principal of any Loan, 2% plus the rate otherwise applicable
to such Loan as provided in the preceding paragraphs of this Section or (ii) in the case of any other amount, 2% plus the rate
applicable to ABR Loans as provided in paragraph (a) of this Section.

 

(d)          Accrued
interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and, in the case of Loans, upon termination
of the Commitments; provided that (i) interest accrued pursuant to paragraph (c) of this Section shall be payable on demand, (ii)
in the event of any repayment or prepayment of any Loan (other than a prepayment of an ABR Loan prior to the end of the Availability
Period), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment
and (iii) in the event of any conversion of any Eurodollar Loan prior to the end of the current Interest Period therefor,
accrued interest on such Loan shall be payable on the effective date of such conversion.

 

(e)          All
interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to the Alternate
Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days
(or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day
but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate or LIBO Rate shall be determined by the Administrative
Agent, and such determination shall be conclusive absent manifest error.

 

Section
2.13        Alternate Rate of Interest. If prior to the commencement
of any Interest Period for a Eurodollar Borrowing:

 

(i)          the
Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means
do not exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period; or

 

(ii)         the
Administrative Agent is advised by the Required Lenders that the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest
Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining their Loans included in such Borrowing
for such Interest Period;

 

    	-40-

    	 

    

 

then the Administrative Agent shall give notice thereof to the
Company and the Lenders by telephone or telecopy as promptly as practicable thereafter and, until the Administrative Agent notifies
the Company and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request
that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective,
and (ii) if any Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made as an ABR Borrowing; provided
that if the circumstances giving rise to such notice affect only one Type of Borrowings, then the other Type of Borrowings shall
be permitted.

 

Section
2.14         Increased Costs.

 

(a)          If
any Change in Law shall:

 

(i)          impose,
modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets
of, deposits with or for the account of, or credit extended by or participated in, any Lender (except any such reserve requirement
reflected in the Adjusted LIBO Rate) or the Issuing Lender;

 

(ii)         subject
any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of the definition
of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations,
or its deposits, reserves, other liabilities or capital attributable thereto; or

 

(iii)        impose
on any Lender or the Issuing Lender or the London interbank market any other condition, cost or expense (other than Taxes) affecting
this Agreement or Loans made by such Lender or any Letter of Credit or participation therein;

 

and the result of any of the foregoing shall be to increase
the cost to such Lender or to such other Recipient of making, converting to, continuing or maintaining any Loan (or of maintaining
its obligation to make any such Loan) or to increase the cost to such Lender, the Issuing Lender or such other Recipient of participating
in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit)
or to reduce the amount of any sum received or receivable by such Lender, the Issuing Lender or such other Recipient hereunder
(whether of principal, interest or any other amount), then, upon the request of such Lender, the Issuing Lender or such other Recipient,
the Company will pay to such Lender, the Issuing Lender or such other Recipient, as the case may be, such additional amount or
amounts as will compensate such Lender, the Issuing Lender or other Recipient, as the case may be, for such additional costs incurred
or reduction suffered.

 

(b)          If
any Lender or the Issuing Lender determines that any Change in Law affecting such Lender or the Issuing Lender or any lending office
of such Lender or such Lender’s or the Issuing Lender’s holding company, if any, regarding capital or liquidity requirements
has or would have the effect of reducing the rate of return on such Lender’s or the Issuing Lender’s capital or on
the capital of such Lender’s or the Issuing Lender’s holding company, if any, as a consequence of this Agreement, the
Commitments of such Lender or the Loans made by, or participations in Letters of Credit or Swingline Loans held by, such Lender,
or the Letters of Credit issued by the Issuing Lender, to a level below that which such Lender or the Issuing Lender or such Lender’s
or the Issuing Lender’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s
or the Issuing Lender’s policies and the policies of such Lender’s or the Issuing Lender’s holding company with
respect to capital adequacy), then from time to time the Company will pay to such Lender or the Issuing Lender, as the case may
be, such additional amount or amounts as will compensate such Lender or the Issuing Lender or such Lender’s or the Issuing
Lender’s holding company for any such reduction suffered.

 

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(c)          A
certificate of a Lender or the Issuing Lender setting forth the amount or amounts necessary to compensate such Lender or the Issuing
Lender or its holding company, as the case may be, as specified in paragraph (a) or (b) of this Section shall be delivered to the
Company and shall be conclusive absent manifest error. The Company shall pay such Lender or the Issuing Lender, as the case may
be, the amount shown as due on any such certificate within 10 days after receipt thereof.

 

(d)          Failure
or delay on the part of any Lender or the Issuing Lender to demand compensation pursuant to this Section shall not constitute a
waiver of such Lender’s or the Issuing Lender’s right to demand such compensation; provided that the Company
shall not be required to compensate a Lender or the Issuing Lender pursuant to this Section for any increased costs or reductions
incurred more than 270 days prior to the date that such Lender or the Issuing Lender, as the case may be, notifies the Company
of the Change in Law giving rise to such increased costs or reductions and of such Lender’s or the Issuing Lender’s
intention to claim compensation therefor; provided further that, if the Change in Law giving rise to such increased
costs or reductions is retroactive, then the 270-day period referred to above shall be extended to include the period of retroactive
effect thereof.

 

Section
2.15         Break Funding Payments. In the event of (a) the payment
of any principal of any Eurodollar Loan other than on the last day of an Interest Period applicable thereto (including as a result
of an Event of Default), (b) the conversion of any Eurodollar Loan other than on the last day of the Interest Period applicable
thereto, (c) the failure to borrow, convert, continue or prepay any Revolving Loan on the date specified in any notice delivered
pursuant hereto (regardless of whether such notice may be revoked under Section 2.10(c) and is revoked in accordance therewith),
or (d) the assignment of any Eurodollar Loan other than on the last day of the Interest Period applicable thereto as a result
of a request by the applicable Borrower pursuant to Section 2.18, then, in any such event, the applicable Borrower shall
compensate each Lender for the loss, cost and expense attributable to such event. In the case of a Eurodollar Loan, such loss,
cost or expense to any Lender shall be deemed to include an amount determined by such Lender to be the excess, if any, of (i)
the amount of interest that would have accrued on the principal amount of such Loan had such event not occurred, at the Adjusted
LIBO Rate that would have been applicable to such Loan, for the period from the date of such event to the last day of the then
current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have
been the Interest Period for such Loan), over (ii) the amount of interest that would accrue on such principal amount for such
period at the interest rate that such Lender would bid were it to bid, at the commencement of such period, for dollar deposits
of a comparable amount and period from other banks in the eurodollar market. A certificate of any Lender setting forth any amount
or amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the applicable Borrower and
shall be conclusive absent manifest error. The applicable Borrower shall pay such Lender the amount shown as due on any such certificate
within 10 days after receipt thereof.

 

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Section
2.16         Taxes.

 

(a)          Payments
Free of Taxes. Any and all payments by or on account of any obligation of any Loan Party under any Loan Document shall be made
without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as determined in the
good faith discretion of an applicable withholding agent) requires the deduction or withholding of any Tax from any such payment
by a withholding agent, then the applicable withholding agent shall be entitled to make such deduction or withholding and shall
timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if
such Tax is an Indemnified Tax, then the sum payable by the applicable Loan Party shall be increased as necessary so that after
such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under
this Section 2.16) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction
or withholding been made.

 

(b)          Payment
of Other Taxes by the Loan Parties. The Loan Parties shall timely pay to the relevant Governmental Authority in accordance
with applicable law, or at the option of the Administrative Agent timely reimburse it for, Other Taxes.

 

(c)          Indemnification
by the Loan Parties. The Loan Parties shall jointly and severally indemnify each Recipient, within 10 days after demand therefor,
for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable
under this Section) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient and
any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally
imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered
to the Company by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf
of a Lender, shall be conclusive absent manifest error.

 

(d)          Indemnification
by the Lenders. Each Lender shall severally indemnify the Administrative Agent, within 10 days after demand therefor, for (i)
any Indemnified Taxes attributable to such Lender (but only to the extent that any Loan Party has not already indemnified the Administrative
Agent for such Indemnified Taxes and without limiting the obligation of the Loan Parties to do so), (ii) any Taxes attributable
to such Lender’s failure to comply with the provisions of Section 9.04(c) relating to the maintenance of a Participant
Register and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the Administrative
Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not
such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount
of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each
Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under
any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other source against any amount due to
the Administrative Agent under this paragraph (d).

 

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(e)          Evidence
of Payments. As soon as practicable after any payment of Taxes by any Loan Party to a Governmental Authority pursuant to this
Section 2.16, such Loan Party shall deliver to the Administrative Agent the original or a certified copy of a receipt issued
by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment
reasonably satisfactory to the Administrative Agent.

 

(f)          Status
of Lenders.

 

(i)          Any
Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document
shall deliver to the Company and the Administrative Agent, at the time or times reasonably requested by the Company or the Administrative
Agent, such properly completed and executed documentation reasonably requested by the Company or the Administrative Agent as will
permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably
requested by the Company or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably
requested by the Company or the Administrative Agent as will enable the Company or the Administrative Agent to determine whether
or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary
in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set
forth in Section 2.17(f)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s
reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense
or would materially prejudice the legal or commercial position of such Lender.

 

(ii)         Without
limiting the generality of the foregoing, in the event that the Borrower is a U.S. Person,

  

(A)         any
Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Lender
becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative
Agent), executed originals of IRS Form W-9 certifying that such Lender is exempt from U.S. Federal backup withholding tax;

 

(B)         any
Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such
number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender
under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent),
whichever of the following is applicable:

 

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(1)         in
the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect
to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN establishing an exemption from, or reduction
of, U.S. Federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any
other applicable payments under any Loan Document, IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. Federal
withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty;

 

(2)         executed
originals of IRS Form W-8ECI;

 

(3)         in
the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x)
a certificate substantially in the form of Exhibit 2.16A to the effect that such Foreign Lender is not a “bank”
within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Borrower within the meaning
of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the
Code (a “U.S. Tax Compliance Certificate”) and (y) executed originals of IRS Form W-8BEN; or

 

(4)         to
the extent a Foreign Lender is not the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI,
IRS Form W-8BEN, a U.S. Tax Compliance Certificate substantially in the form of Exhibit 2.16B or Exhibit 2.16C, IRS
Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender
is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption,
such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit 2.16D on behalf of
each such direct and indirect partner;

 

(C)         any
Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such
number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender
under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent),
executed originals of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S.
Federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law
to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made; and

 

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(D)         if
a payment made to a Lender under any Loan Document would be subject to U.S. Federal withholding Tax imposed by FATCA if such Lender
were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b)
of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent at the time or times prescribed
by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed
by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably
requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply
with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA
or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA”
shall include any amendments made to FATCA after the Effective Date.

 

Each Lender agrees
that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update
such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do
so.

 

(g)          Treatment
of Certain Refunds. If the Administrative Agent, a Lender or the Issuing Lender determines, in its sole discretion, that it
has received a refund of any Taxes or Other Taxes as to which it has been indemnified by the Company or with respect to which any
Loan Party has paid additional amounts pursuant to this Section 2.16, it shall pay over such refund to the Company (but
only to the extent of indemnity payments made, or additional amounts paid, by the Company under this Section 2.16 with respect
to the Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the Administrative Agent, such Lender
or the Issuing Lender and without interest (other than any interest paid by the relevant Governmental Authority with respect to
such refund); provided, that the Company, upon the request of the Administrative Agent, such Lender or the Issuing Lender
agrees to repay the amount paid over to the Company (plus any penalties, interest or other charges imposed by the relevant Governmental
Authority) to the Administrative Agent, such Lender or the Issuing Lender in the event the Administrative Agent, such Lender or
the Issuing Lender is required to repay such refund to such Governmental Authority. This Section shall not be construed to require
the Administrative Agent, any Lender or the Issuing Lender to make available its tax returns (or any other information relating
to its taxes that it deems confidential) to the Company or any other Person.

 

(h)          Survival.
Each party’s obligations under this Section 2.16 shall survive the resignation or replacement of the Administrative
Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction
or discharge of all obligations under any Loan Document.

 

(i)          For
purposes of this Section 2.16, the term “Lender” includes the Issuing Lender.

 

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Section
2.17         Payments Generally; Pro Rata Treatment; Sharing of Set-offs.

 

(a)          Each
Borrower shall make each payment required to be made by it hereunder (whether of principal, interest, fees or reimbursement of
LC Disbursements, or of amounts payable under Section 2.14, 2.15 or 2.16, or otherwise) prior to 12:00 noon,
Houston time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after
such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding
Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at its offices
at 712 Main Street, Houston, Texas, except payments to be made directly to the Issuing Lender or Swingline Lender as expressly
provided herein and except that payments pursuant to Section 2.14, 2.15, 2.16 and 9.03 shall be made
directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for the account
of any other Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on a
day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of
any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments hereunder shall
be made in dollars.

 

(b)          If
at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal,
unreimbursed LC Disbursements, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of
interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and
fees then due to such parties, and (ii) second, towards payment of principal and unreimbursed LC Disbursements then due hereunder,
ratably among the parties entitled thereto in accordance with the amounts of principal and unreimbursed LC Disbursements then due
to such parties.

 

(c)          If
any Lender shall, by exercising any right of set-off or counterclaim or otherwise, obtain payment in respect of any principal of
or interest on any of its Revolving Loans, or participations in LC Disbursements or Swingline Loans, resulting in such Lender receiving
payment of a greater proportion of the aggregate amount of its Revolving Loans, and participations in LC Disbursements and Swingline
Loans, and accrued interest thereon than the proportion received by any other Lender, then the Lender receiving such greater proportion
shall purchase (for cash at face value) participations in the Revolving Loans, and participations in LC Disbursements and Swingline
Loans of other Lenders to the extent necessary so that the benefit of all such payments shall be shared by the Lenders ratably
in accordance with the aggregate amount of principal of and accrued interest on their respective Loans, and participations in LC
Disbursements and Swingline Loans; provided that (i) if any such participations are purchased and all or any portion of
the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent
of such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment
made by a Borrower pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as
consideration for the assignment of or sale of a participation in any of its Loans or participations in LC Disbursements to any
assignee or participant, other than to the Company or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph
shall apply). Each Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law,
that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of set-off
and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of such Borrower in the amount
of such participation.

 

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(d)          Unless
the Administrative Agent shall have received notice from a Borrower prior to the date on which any payment is due to the Administrative
Agent for the account of the Lenders or the Issuing Lender hereunder that such Borrower will not make such payment, the Administrative
Agent may assume that such Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption,
distribute to the Lenders or the Issuing Lender, as the case may be, the amount due. In such event, if such Borrower has not in
fact made such payment, then each of the Lenders or the Issuing Lender, as the case may be, severally agrees to repay to the Administrative
Agent forthwith on demand the amount so distributed to such Lender or Issuing Lender with interest thereon, for each day from and
including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater
of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules
on interbank compensation.

 

(e)          If
any Lender shall fail to make any payment required to be made by it pursuant to Section 2.05(d), or (e), 2.06(b),
2.17(d) or 9.03(c), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision
hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s
obligations under such Sections until all such unsatisfied obligations are fully paid.

 

Section
2.18         Mitigation Obligations; Replacement of Lenders.

 

(a)          If
any Lender requests compensation under Section 2.14, or if a Borrower is required to pay any Indemnified Taxes or additional
amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.16, then such Lender
shall (at the request of the Borrower) use reasonable efforts to designate a different lending office for funding or booking its
Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the
judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.14
or 2.16, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and
would not otherwise be disadvantageous to such Lender. The Borrowers shall pay all reasonable costs and expenses incurred by any
Lender in connection with any such designation or assignment.

 

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(b)          If
any Lender requests compensation under Section 2.14, or if a Borrower is required to pay any Indemnified Taxes or additional
amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.16, and, in each
case, such Lender has declined or is unable to designate a different lending office in accordance with paragraph (a) above, or
if any Lender is a Defaulting Lender or a Non-Consenting Lender, then the Borrower may, at its sole expense and effort, upon notice
to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and
subject to the restrictions contained in Section 9.04), all its interests, rights (other than its existing rights to payments
made pursuant to Sections 2.14 and 2.16) and obligations under this Agreement to an assignee that shall assume such
obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that (i) the Borrower
shall have received the prior written consent of the Administrative Agent (and if a Commitment is being assigned, the Issuing Lender),
which consent shall not unreasonably be withheld, (ii) such Lender shall have received payment of an amount equal to the outstanding
principal of its Loans and participations in LC Disbursements and Swingline Loans, accrued interest thereon, accrued fees and all
other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and
fees) or the Borrower (in the case of all other amounts), (iii) in the case of any such assignment resulting from a claim for compensation
under Section 2.14 or payments required to be made pursuant to Section 2.16, such assignment will result in a reduction
in such compensation or payments and (iv) in the case of any assignment resulting from a Lender becoming a Non-Consenting
Lender, the applicable assignee shall have consented to the applicable amendment, waiver or consent. A Lender shall not be required
to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances
entitling the Borrower to require such assignment and delegation cease to apply.

 

Section
2.19         Increase of Commitments.

 

(a)          If
no Default, Event of Default or Material Adverse Effect shall have occurred and be continuing and all of the conditions described
in Section 4.02(a) and (d) are satisfied, the Company may at any time and from time to time request an increase of
the aggregate Commitments by notice to the Administrative Agent in writing of the amount of such proposed increase (such notice,
a “Commitment Increase Notice”); provided, however, that (i) each such increase shall be at least
$10,000,000, (ii) the cumulative increase in Commitments pursuant to this Section 2.19 shall not exceed $100,000,000,
(iii) the Commitment of any Lender may not be increased without such Lender’s consent, and (iv) the aggregate amount
of the Lenders’ Commitments shall not exceed $300,000,000. Following any Commitment Increase Notice, the Company may, in
its sole discretion, but with the consent of the Administrative Agent, the Issuing Lender and the Swingline Lender as to any Person
that is not at such time a Lender (which consent shall not be unreasonably withheld or delayed), offer to any existing Lender or
to one or more additional banks or financial institutions the opportunity to participate in all or a portion of such unsubscribed
portion of the increased Commitments pursuant to paragraph (b) or (c) below, as applicable, by notice to the Administrative Agent.
Promptly and in any event within ten (10) Business Days after receipt of notice from the Company of
its desire to offer such unsubscribed commitments to certain existing Lenders, to the additional banks or financial institutions
identified therein or such existing Lenders, additional banks or financial institutions identified by the Administrative Agent
and approved by the Company, the Administrative Agent shall notify such proposed lenders of the opportunity to participate in all
or a portion of such unsubscribed portion of the increased Commitments.

 

(b)          Any
additional bank or financial institution that the Company selects to offer participation in the increased Commitments shall notify
the Administrative Agent of its agreement to participate in the increased Commitments within ten (10) Business Days of the date
the Administrative Agent’s notice described in paragraph (a) above is sent and shall execute and deliver to the Administrative
Agent a New Lender Agreement setting forth its Commitment, and, upon the effectiveness of such New Lender Agreement, such bank
or financial institution (a “New Lender”) shall become a Lender for all purposes and to the same extent as if
originally a party hereto and shall be bound by and entitled to the benefits of this Agreement, and the signature pages hereof
shall be deemed to be amended to add the name of such New Lender and the definition of Commitment in Section 1.01 hereof
shall be deemed amended to increase the aggregate Commitments of the Lenders by the Commitment of such New Lender, provided
that the Commitment of any New Lender shall be an amount not less than $5,000,000 (or any remaining portion of the increased Commitments
not subscribed to by the Lenders).

 

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(c)          Any
Lender that accepts an offer to it by the Company to increase its Commitment pursuant to this Section 2.19 shall, in each
case, execute and deliver to the Administrative Agent a Commitment Increase Agreement setting forth its Commitment, and, upon the
effectiveness of such Commitment Increase Agreement, such Lender shall be bound by and entitled to the benefits of this Agreement
with respect to the full amount of its Commitment as so increased, and the definition of Commitment in Section 1.01 hereof
shall be deemed to be amended to reflect such increase.

 

(d)          The
effectiveness of any New Lender Agreement or Commitment Increase Agreement shall be contingent upon receipt by the Administrative
Agent of such corporate resolutions of the Company and legal opinions of counsel to the Company as the Administrative Agent shall
reasonably request with respect thereto, in each case in form and substance reasonably satisfactory to the Administrative Agent.

 

(e)          If
any bank or financial institution becomes a New Lender pursuant to Section 2.19(b) or any Lender’s Commitment is increased
pursuant to Section 2.19(c), additional Loans made on or after the effectiveness thereof (the “Re-Allocation Date”)
shall be made pro rata based on their respective Commitments in effect on or after such Re-Allocation Date (except to the extent
that any such pro rata borrowings would result in any Lender making an aggregate principal amount of Loans in excess of its Commitment,
in which case such excess amount will be allocated to, and made by, such New Lender and/or Lenders with such increased Commitments
to the extent of, and pro rata based on, their respective Commitments), and continuations of Loans outstanding on such Re-Allocation
Date shall be effected by repayment of such Loans on the last day of the Interest Period applicable thereto and the making of new
Loans pro rata based on the respective Commitments in effect on and after such Re-Allocation Date.

 

(f)          If
on any Re-Allocation Date there is an unpaid principal amount of Eurodollar Loans or ABR Loans, such Eurodollar Loans or ABR Loans
shall remain outstanding with the respective holders thereof until the expiration of their respective Interest Periods (unless
the Company elects to prepay any thereof in accordance with the applicable provisions of this Agreement), and interest on and repayments
of such Eurodollar Loans or ABR Loans will be paid thereon to the respective Lenders holding such Eurodollar Loans or ABR Loans
pro rata based on the respective principal amounts thereof outstanding.

 

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Section
2.20         Borrowing Subsidiaries. On or after the Effective Date,
the Company may designate any Restricted Subsidiary of the Company as a Borrowing Subsidiary by delivery to the Administrative
Agent of a Borrowing Subsidiary Agreement executed by such Restricted Subsidiary and the Company, and five (5) Business Days following
(i) such delivery and (ii) receipt of documentation reasonably requested by the Lenders in order to comply with the USA PATRIOT
Act, such Restricted Subsidiary shall for all purposes of this Agreement be a Borrowing Subsidiary and a party to this Agreement
until the Company shall have executed and delivered to the Administrative Agent a Borrowing Subsidiary Termination with respect
to such Restricted Subsidiary, whereupon such Restricted Subsidiary shall cease to be a Borrowing Subsidiary and a party to this
Agreement. Notwithstanding the preceding sentence, no Borrowing Subsidiary Termination will become effective as to any Borrowing
Subsidiary at a time when any principal of or interest on any Revolving Loan to such Borrowing Subsidiary or any Letter of Credit
issued for the account of such Borrowing Subsidiary shall be outstanding hereunder; provided that such Borrowing Subsidiary
Termination shall be effective to terminate such Borrowing Subsidiary’s right to make further Borrowings or to request Letters
of Credit under this Agreement. As soon as practicable upon receipt of a Borrowing Subsidiary Agreement, the Administrative Agent
shall send a copy thereof to each Lender.

 

Section
2.21         Cash Collateral. At
any time that there shall exist a Defaulting Lender, within one Business Day following the written request of the Administrative
Agent or the Issuing Lender (with a copy to the Administrative Agent), the Company shall Cash Collateralize the Issuing Lender’s
Fronting Exposure with respect to such Defaulting Lender (determined after giving effect to Section 2.22(a)(iv) and any
Cash Collateral provided by such Defaulting Lender) in an amount equal to the LC Exposure as of such date.

 

(a)          Grant
of Security Interest. The Company, and to the extent provided by any Defaulting Lender, such Defaulting Lender, hereby grants
to the Administrative Agent, for the benefit of the Issuing Lender, and agrees to maintain, a first priority security interest
in all such Cash Collateral as security for the Defaulting Lender’s obligation to fund participations in respect of Letters
of Credit, to be applied pursuant to clause (b) below. If at any time the Administrative Agent determines that Cash Collateral
is subject to any right or claim of any Person other than the Administrative Agent and the Issuing Lender as herein provided, or
that the total amount of such Cash Collateral is less than the LC Exposure as of such date, the Company will, promptly upon demand
by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate
such deficiency (after giving effect to any Cash Collateral provided by the Defaulting Lender).

 

(b)          Application.
Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under this Section 2.21 or
Section 2.22 in respect of Letters of Credit shall be applied to the satisfaction of the Defaulting Lender’s obligation
to fund participations in respect of Letters of Credit (including, as to Cash Collateral provided by a Defaulting Lender, any interest
accrued on such obligation) for which the Cash Collateral was so provided, prior to any other application of such property as may
otherwise be provided for herein.

 

(c)          Termination
of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce the Issuing Lender’s Fronting
Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 2.21 following (i) the elimination
of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (ii)
the determination by the Administrative Agent and the Issuing Lender that there exists excess Cash Collateral; provided
that, subject to Section 2.21, the Person providing Cash Collateral and the Issuing Lender may agree that Cash Collateral
shall be held to support future anticipated Fronting Exposure or other obligations and provided further that to the
extent that such Cash Collateral was provided by the Company, such Cash Collateral shall remain subject to the security interest
granted pursuant to the Loan Documents.

 

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Section
2.22         Defaulting Lenders.

 

(a)          Defaulting
Lender Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting
Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable law:

 

(i)          Waivers
and Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect
to this Agreement shall be restricted as set forth in the definition of Required Lenders and the last sentence of Section 9.02.

 

(ii)         Defaulting
Lender Waterfall. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account
of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VII or otherwise) or received by the
Administrative Agent from a Defaulting Lender pursuant to Section 9.08 shall be applied at such time or times as may be
determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender
to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by such Defaulting
Lender to the Issuing Lender or Swingline Lender hereunder; third, to Cash Collateralize the Issuing Lender’s Fronting
Exposure with respect to such Defaulting Lender in accordance with Section 2.21; fourth, as the Company may request
(so long as no Default or Event of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed
to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so determined
by the Administrative Agent and the Company, to be held in a deposit account and released pro rata in order to (x) satisfy such
Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement and (y) Cash Collateralize
the Issuing Lender’s future Fronting Exposure with respect to such Defaulting Lender with respect to future Letters of Credit
issued under this Agreement, in accordance with Section 2.21; sixth, to the payment of any amounts owing to the Lenders,
the Issuing Lender or Swingline Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender,
the Issuing Lender or Swingline Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its
obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any amounts
owing to the Company as a result of any judgment of a court of competent jurisdiction obtained by the Company against such Defaulting
Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to such
Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a
payment of the principal amount of any Loans or LC Disbursements in respect of which such Defaulting Lender has not fully funded
its appropriate share, and (y) such Loans were made or the related Letters of Credit were issued at a time when the conditions
set forth in Section 4.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and LC Disbursements
owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or LC Disbursements
owed to, such Defaulting Lender until such time as all Loans and funded and unfunded participations in LC Obligations and Swingline
Loans are held by the Lenders pro rata in accordance with the Commitments hereunder without giving effect to Section 2.22(a)(iv).
Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed
by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.22(a)(ii) shall be deemed paid to and redirected
by such Defaulting Lender, and each Lender irrevocably consents hereto.

 

    	-52-

    	 

    

 

(iii)        Certain
Fees.

 

(A)         No
Defaulting Lender shall be entitled to receive any commitment fee pursuant to Section 2.11(a) for any period during which
that Lender is a Defaulting Lender (and the Company shall not be required to pay any such fee that otherwise would have been required
to have been paid to that Defaulting Lender).

 

(B)         Each
Defaulting Lender shall be entitled to receive participation fees pursuant to Section 2.11(b) for any period during which
that Lender is a Defaulting Lender only to the extent allocable to its Applicable Percentage of the stated amount of Letters of
Credit for which it has provided Cash Collateral pursuant to Section 2.21.

 

(C)         With
respect to any participation fees not required to be paid to any Defaulting Lender pursuant to clause (B) above, the Company shall
(1) pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to
such Defaulting Lender’s participation in LC Disbursements or Swingline Loans that has been reallocated to such Non-Defaulting
Lender pursuant to clause (iv) below, (2) pay to the Issuing Lender the amount of any such fee otherwise payable to such Defaulting
Lender to the extent allocable to the Issuing Lender’s Fronting Exposure to such Defaulting Lender, and (3) not be required
to pay the remaining amount of any such fee.

 

(iv)         Reallocation
of Participations to Reduce Fronting Exposure. All or any part of such Defaulting Lender’s participation in LC Disbursements
and Swingline Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Applicable Percentages
(calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that (A) the conditions set forth
in Section 4.02 are satisfied at the time of such reallocation (and, unless the Company shall have otherwise notified the
Administrative Agent at such time, the Company shall be deemed to have represented and warranted that such conditions are satisfied
at such time), and (B) such reallocation does not cause the aggregate Revolving Exposure of any Non-Defaulting Lender to exceed
such Non-Defaulting Lender’s Commitment. No reallocation hereunder shall constitute a waiver or release of any claim of any
party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of
a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following such reallocation.

 

    	-53-

    	 

    

 

(v)          Cash
Collateral, Repayment of Swingline Loans. If the reallocation described in clause (iv) above cannot, or can only partially,
be effected, the Company shall, without prejudice to any right or remedy available to it hereunder or under law, (A) first, prepay
Swingline Loans in an amount equal to the Swingline Lender’s Fronting Exposure and (B) second, Cash Collateralize the Issuing
Lender’s Fronting Exposure in accordance with the procedures set forth in Section 2.21.

 

(b)          Defaulting
Lender Cure. If the Company, the Administrative Agent, the Swingline Lender and the Issuing Lender agree in writing that a
Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective
date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any
Cash Collateral), that Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders
or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded
participations in Letters of Credit and Swingline Loans to be held pro rata by the Lenders in accordance with the Commitments (without
giving effect to Section 2.22(a)(iv), whereupon such Lender will cease to be a Defaulting Lender; provided that no
adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Company while that
Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the
affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any
party hereunder arising from that Lender’s having been a Defaulting Lender.

 

(c)          New
Swingline Loans/Letters of Credit. So long as any Lender is a Defaulting Lender, (i) the Swingline Lender shall not be required
to fund any Swingline Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swingline
Loan and (ii) the Issuing Lender shall not be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied
that it will have no Fronting Exposure after giving effect thereto.

 

ARTICLE
III

 

Representations and Warranties

 

Each Borrower represents
and warrants to the Lenders that:

 

Section
3.01         Organization. As of the Effective Date, each of the Company
and its Subsidiaries (i) is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization,
(ii) has the requisite power and authority to conduct its business as it is presently being conducted, and (iii) is duly qualified
or licensed to conduct business and is in good standing in each jurisdiction listed in Schedule 3.01. The Company and its
Subsidiaries are qualified and licensed in all jurisdictions where they are required to be so qualified or licensed to operate
their business and where the failure to so qualify or be in good standing, individually or in the aggregate, could not reasonably
be expected to have a Material Adverse Effect. No proceeding to dissolve any Loan Party is pending or, to the Company’s
knowledge, threatened except for any merger, consolidation, liquidation, or dissolution permitted under Section 6.03.

 

    	-54-

    	 

    

 

Section
3.02         Authorization; Enforceability. The Transactions to be
entered into by each Loan Party are within such Loan Party’s corporate powers and have been duly authorized by all necessary
corporate and, if required, stockholder action. This Agreement has been duly executed and delivered by the Borrowers and constitutes,
and each other Loan Document to which any Loan Party is to be a party, when executed and delivered by such Loan Party, will constitute,
a legal, valid and binding obligation of the Borrowers or such Loan Party (as the case may be), enforceable in accordance with
its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’
rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at
law.

 

Section
3.03         Governmental Approvals; No Conflicts. The Transactions
(a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority,
except (i) such as have been obtained or made and are in full force and effect, (ii) filings necessary to perfect Liens created
under the Loan Documents and (iii) those the failure to obtain or make which, individually or in the aggregate, could not reasonably
be expected to result in a Material Adverse Effect, (b) will not violate any applicable law or regulation or the charter, by-laws
or other organizational documents of the Company or any of its Subsidiaries or any order of any Governmental Authority, (c) will
not violate or result in a default under any indenture, material agreement or other material instrument binding upon the Company
or any of its Subsidiaries or their respective assets, or give rise to a right thereunder to require any payment to be made by
the Company or any of its Subsidiaries and (d) will not result in the creation or imposition of any Lien on any asset of the Company
or any of its Subsidiaries, except Liens created under the Loan Documents.

 

Section
3.04         Financial Statements; No Material Adverse Change.

 

(a)          The
Company has heretofore furnished to the Lenders its consolidated balance sheet and statements of income, stockholders equity and
cash flows (i) as of and for the fiscal year ended December 31, 2011, reported on by KPMG LLP, independent certified public
accountants, and (ii) as of and for the Fiscal Quarter and the portion of the current fiscal year ended March 31, 2012, certified
by a Financial Officer. Such financial statements present fairly, in all material respects, the financial position and results
of operations and cash flows of the Company and its consolidated Subsidiaries as of such dates and for such periods in accordance
with GAAP, subject to year-end audit adjustments and the absence of footnotes in the case of the statements referred to in clause
(ii) above.

 

(b)          Except
as disclosed in the financial statements referred to above or the notes thereto and except for the Disclosed Matters, after giving
effect to the Transactions, none of the Company or its Subsidiaries has, as of the Effective Date, any material contingent liabilities,
unusual long-term commitments or unrealized losses.

 

    	-55-

    	 

    

 

(c)          Since
December 31, 2011, there has been no material adverse change in the business, assets, property, condition (financial or otherwise),
of the Company and its Subsidiaries taken as a whole.

 

Section
3.05         Properties. Each of the Company and its Subsidiaries has
good title to, or valid leasehold interests in, all its real and personal property material to its business, except for minor
defects in title that (i) do not interfere with its ability to conduct its business as currently conducted or to utilize such
properties for their intended purposes and (ii) individually or in the aggregate, could not reasonably be expected to result in
a Material Adverse Effect.

 

Section
3.06         Litigation and Environmental Matters.

 

(a)          There
are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending against or, to the knowledge
of the Company, threatened against or affecting the Company or any of its Subsidiaries (i) as to which there is a reasonable possibility
of an adverse determination and that, if adversely determined, could reasonably be expected, individually or in the aggregate,
to result in a Material Adverse Effect (other than the Disclosed Matters) or (ii) that involve any of the Loan Documents or the
Transactions.

 

(b)          Except
for the Disclosed Matters and except with respect to any other matters that, individually or in the aggregate, could not reasonably
be expected to result in a Material Adverse Effect, neither the Company nor any of its Subsidiaries (i) has failed to comply with
any Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any Environmental
Law, (ii) has become subject to any Environmental Liability, (iii) has received notice of any claim with respect to any Environmental
Liability or (iv) knows of any basis for any Environmental Liability.

 

(c)          Since
the Effective Date, there has been no change in the status of the Disclosed Matters that, individually or in the aggregate, has
resulted in, or materially increased the likelihood of, a Material Adverse Effect.

 

Section
3.07         Compliance with Laws and Agreements. Each of the Company
and its Subsidiaries is in compliance with all Laws, regulations and orders of any Governmental Authority applicable to it or
its property and all indentures, material agreements and other material instruments binding upon it or its property, except where
the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect.
No Default has occurred and is continuing.

 

Section
3.08         Intellectual Property. The Company and each of its Subsidiaries
owns, or is licensed to use, all patents, trademarks, trade names, service marks, copyrights, technology, know-how and processes
(together with all applications therefor and licenses granting rights therein, “Intellectual Property”) reasonably
necessary for the conduct of its business as currently conducted, except for those the failure to own or be licensed to use which
could not reasonably be expected to result in a Material Adverse Effect. To the knowledge of the Company, (a) the use of Intellectual
Property by the Company and its Subsidiaries does not infringe on the rights of any person, (b) no Intellectual Property of the
Company or any of its Subsidiaries is being infringed upon by any person, and (c) no claim is pending or threatened in writing
challenging the use or the validity of any Intellectual Property of the Company or any Subsidiary, except for infringements and
claims referred to in the foregoing clauses (a), (b) and (c) that, in the aggregate, could not reasonably be expected to result
in a Material Adverse Effect.

 

    	-56-

    	 

    

 

Section
3.09         Investment Company Status. Neither the Company nor any
of its Subsidiaries is an “investment company” as defined in, or subject to regulation under, the Investment Company
Act of 1940, as amended.

 

Section
3.10         Taxes. Each of the Company and its Subsidiaries has timely
filed or caused to be filed all Tax returns and reports required to have been filed and has paid or caused to be paid all Taxes
required to have been paid by it, except (a) any Taxes that are being contested in good faith by appropriate proceedings and for
which the Company or such Subsidiary, as applicable, has set aside on its books adequate reserves or (b) to the extent that the
failure to do so could not reasonably be expected to result in a Material Adverse Effect.

 

Section
3.11         ERISA. No ERISA Event has occurred or is reasonably expected
to occur that, when taken together with all other such ERISA Events for which liability is reasonably expected to occur, could
reasonably be expected to result in a Material Adverse Effect. The present value of all accumulated benefit obligations under
each Plan (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the
date of the most recent financial statements reflecting such amounts, exceed by more than $10,000,000 (inclusive of fees and penalties)
the fair market value of the assets of such Plan, and the present value of all accumulated benefit obligations of all underfunded
Plans (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the date
of the most recent financial statements reflecting such amounts, exceed by more than $25,000,000 (inclusive of fees and penalties)
the fair market value of the assets of all such underfunded Plans.

 

Section
3.12         Labor Matters. As of the Effective Date, there are no
strikes, lockouts or slowdowns against the Company or any of its Subsidiaries pending or, to the knowledge of the Company, threatened.
The hours worked by and payments made to employees of the Company and its Subsidiaries have not been in violation of the Fair
Labor Standards Act or any other Law dealing with such matters in any manner that could reasonably be expected to have a Material
Adverse Effect. All payments due from the Company or any Subsidiary, or for which any claim may be made against any of them, on
account of wages and employee health and welfare insurance and other benefits, have been paid or accrued as a liability on the
books of the Company and its Subsidiaries except to the extent non-payment could reasonably be expected to have a Material Adverse
Effect. The consummation of the Transactions will not give rise to any right of termination or right of renegotiation on the part
of any union under any collective bargaining agreement to which the Company or any of its Subsidiaries is bound.

 

Section
3.13         Insurance. Schedule 3.13 lists all policies or
binders of fire, liability, worker’s compensation, vehicular or other insurance held by or for the benefit of the Company
or any of its Subsidiaries (specifying the insurer, the policy number or covering note number with respect to binders) as of the
Effective Date. As of the Effective Date, all premiums in respect of such insurance have been paid. All insurance required by
Section 5.07 is in full force and effect, is with financially sound and reputable insurers and is in amounts and provides
coverage that are reasonable and customary for Persons engaged in businesses similar to those conducted by the Company and its
Subsidiaries.

 

    	-57-

    	 

    

 

Section
3.14         Solvency. Immediately after the consummation of the Transactions
to occur on the Effective Date, and immediately following the making of each Loan made on the Effective Date and after giving
effect to the application of the proceeds of such Loans, (a) the fair market value of the assets of each Loan Party (individually
and on a consolidated basis with its subsidiaries) will exceed its debts and liabilities, subordinate, contingent or otherwise;
(b) the present fair saleable value of the property of each Loan Party (individually and on a consolidated basis with its subsidiaries)
will be greater than the amount that will be required to pay the probable liability of its debts and other liabilities; (c) each
Loan Party (individually and on a consolidated basis with its subsidiaries) will be able to pay its debts and liabilities, subordinate,
contingent or otherwise as they become absolute and mature; and (d) each Loan Party (individually and on a consolidated basis
with its subsidiaries) will not have unreasonably small capital with which to conduct its business as such business is now conducted
and is proposed to be conducted following the Effective Date.

 

Section
3.15         Subsidiaries. Schedule 3.15 sets forth the name
of, and the ownership interest of the Company in, each Subsidiary of the Company and identifies each Subsidiary that is a Domestic
Subsidiary, each that is a Material Domestic Subsidiary and each that is a Foreign Subsidiary, in each case as of the Effective
Date. As of Effective Date, there are no Borrowing Subsidiaries or any Unrestricted Subsidiaries and no Person has executed a
Borrowing Subsidiary Agreement (as defined in the Third Amended and Restated Agreement) or obtained a Loan under Section 2.01
of the Original Credit Agreement, as amended.

 

Section
3.16         Disclosure. The Company has disclosed to the Lenders all
agreements, instruments and corporate or other restrictions to which it or any of its Subsidiaries is subject, and all other matters
known to it, that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect. None
of the reports, financial statements, certificates or other information furnished by or on behalf of the Company or any of its
Subsidiaries to the Administrative Agent or any Lender in connection with the negotiation of this Agreement or any Loan Document
or delivered hereunder (as modified or supplemented by other information so furnished) contain any material misstatement of fact
or omits to state any material fact necessary to make the statements therein, taken as a whole in the light of the circumstances
under which they were made, not misleading; provided that, with respect to projected financial information, the Borrowers
represent only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time.

 

Section
3.17         Margin Stock. Neither the Company nor any Subsidiary is
engaged principally, or as one of its important activities, in the business of extending credit for the purpose of buying or carrying
margin stock (within the meaning of Regulation U of the Board). The proceeds of the Loans and the Letters of Credit will not be
used, directly or indirectly, immediately, incidentally or ultimately, for the purpose of purchasing or carrying any margin stock
or for the purpose of reducing or retiring any Indebtedness which was originally incurred to purchase or carry margin stock or
for any other purpose which might cause any of the Loans or the Letters of Credit under this Agreement to be “purpose credit”
within the meaning of Regulation U or Regulation X of the Board.

 

    	-58-

    	 

    

 

Section
3.18         Use of Proceeds. The proceeds of the Loans shall be used
only for working capital and other general corporate purposes, including without limitation, Acquisitions. Each Borrower represents
and warrants to the Lenders and the Administrative Agent that all Loans will be for business, commercial, investment or other
similar purpose and not primarily for personal, family, household or agricultural use, as such terms are used in the Texas Finance
Code.

 

Section
3.19         No Undisclosed Liabilities. Except as set forth in Schedule
3.19, the Company and its Subsidiaries have no liabilities or obligations of any nature (whether known or unknown, and whether
absolute, accrued, contingent or otherwise) except for (i) liabilities or obligations reflected or reserved against in the financial
statements most recently delivered by the Borrower pursuant to Section 5.01, (ii) current liabilities incurred in the ordinary
course of business since the date of such financial statements, (iii) liabilities or obligations that are not required to be included
in financial statements prepared in accordance with GAAP, (iv) liabilities or obligations arising under Governmental Approvals
or contracts to which the Company or any of its Subsidiaries is a party or otherwise subject and (v) liabilities or obligations
incurred after the most recently delivered financial statements and specifically permitted to be incurred under this Agreement.

 

Section
3.20         USA PATRIOT Act.

 

(a)          Neither
the Company nor any of its Subsidiaries or, to the knowledge of the Company, any of their respective Affiliates over which any
of the foregoing exercises management control (each, a “Controlled Affiliate”) is a Prohibited Person, and the
Company, its Subsidiaries and, to the knowledge of the Company, such Controlled Affiliates are in compliance with all applicable
orders, rules and regulations of OFAC.

 

(b)          Neither
the Company nor any of its Subsidiaries or, to the knowledge of the Company, any of their respective Affiliates (i) is targeted
by United States or multilateral economic or trade sanctions currently in force; (ii) is owned or controlled by, or acts on behalf
of, any Person that is targeted by United States or multilateral economic or trade sanctions currently in force; or (iii) is named,
identified or described on any list of Persons with whom United States Persons may not conduct business, including any such blocked
persons list, designated nationals list, denied persons list, entity list, debarred party list, unverified list, sanctions list
or other such lists published or maintained by the United States, including OFAC, the United States Department of Commerce or the
United States Department of State.

 

Section
3.21         Embargoed Person. None of Company’s assets constitute
property of, or are beneficially owned, directly or indirectly, by any Person targeted by economic or trade sanctions under US
law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading
with the Enemy Act, 50 U.S.C. App. 1 et seq. (the “Trading With the Enemy Act”), any of the foreign assets
control regulations of the Treasury (31 C.F.R., Subtitle B, Chapter V, as amended) (the “Foreign Assets Control Regulations”)
or any enabling legislation or regulations promulgated thereunder or executive order relating thereto (which includes, without
limitation, (a) Executive Order No. 13224, effective as of September 24, 2001, and relating to Blocking Property and Prohibiting
Transaction With Persons Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)) (the “Executive
Order”) and (b) the USA PATRIOT Act, if the result of such ownership would be that any Loan made by any Lender
would be in violation of law (“Embargoed Person”). No Embargoed Person has any interest of any nature whatsoever
in the Company if the result of such interest would be that any Loan would be in violation of law. The Company has not engaged
in business with Embargoed Persons if the result of such business would be that any Loan made by any Lender would be in violation
of law. Neither the Company nor any Controlled Affiliate (a) is or will become a “blocked person” as described
in the Executive Order, the Trading With the Enemy Act or the Foreign Assets Control Regulations or (b) engages or will engage
in any dealings or transactions, or be otherwise associated, with any such “blocked person”. For purposes of determining
whether or not a representation is true or a covenant is being complied with under this Section 3.21, the Borrower shall
not be required to make any investigation into (a) the ownership of publicly traded stock or other publicly traded securities
or (b) the beneficial ownership of any collective investment fund.

 

    	-59-

    	 

    

 

ARTICLE
IV

 

Conditions

 

Section
4.01         Effective Date. The obligations of the Lenders to make
Loans and of the Issuing Lender to issue Letters of Credit hereunder shall not become effective until the date on which each of
the following conditions is satisfied (or waived in accordance with Section 9.02):

 

(a)          The
Administrative Agent (or its counsel) shall have received from each party hereto either (i) a counterpart of this Agreement signed
on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent (which may include telecopy or email
transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement.

 

(b)          The
Administrative Agent shall have received a favorable written opinion (addressed to the Administrative Agent, the Collateral Agent,
the Issuing Lender and the Lenders and dated the Effective Date) of Latham & Watkins LLP, counsel for the Company, and of Fees
& Burgess, P.C., local Alabama counsel for the Company, both in form and substance reasonably satisfactory to the Administrative
Agent and Required Lenders, and covering such other matters relating to the Loan Parties, the Loan Documents or the Transactions
as the Required Lenders shall reasonably request. The Company hereby requests such counsel to deliver such opinion.

 

(c)          The
Administrative Agent shall have received such documents and certificates as the Administrative Agent or its counsel may reasonably
request relating to the organization, existence and good standing of each Loan Party, the authorization of the Transactions and
any other legal matters relating to the Loan Parties, this Agreement or the Transactions, all in form and substance reasonably
satisfactory to the Administrative Agent and its counsel.

 

(d)          The
Administrative Agent shall have received all fees and other amounts due and payable on or prior to the Effective Date, including,
to the extent invoiced, reimbursement or payment of all out-of-pocket expenses (including reasonable legal fees) required to be
reimbursed or paid by any Loan Party hereunder or under any Loan Documents.

 

    	-60-

    	 

    

 

(e)          All
material governmental and third party approvals necessary or, in the discretion of the Administrative Agent, advisable in connection
with the financing contemplated hereby and the continuing operations of the Company and the Subsidiaries shall have been obtained
and be in full force and effect.

 

(f)          The
Lenders shall have received (i) audited consolidated financial statements of the Company and its Subsidiaries for the two most
recent fiscal years ended prior to the Effective Date as to which such financial statements are available and (ii) satisfactory
unaudited interim consolidated financial statements of the Borrower and its Subsidiaries for each Fiscal Quarter ended subsequent
to the date of the latest financial statements delivered pursuant to clause (i) of this paragraph as to which such financial statements
are available which financial statements shall not be materially inconsistent with the financial statements or forecasts previously
provided.

 

(g)          The
Administrative Agent shall have received (i) promissory notes for each of the Lenders and (ii) each of the Security Documents and
they shall constitute satisfactory security documentation to create first priority security interests in the Collateral (free and
clear of all Liens, other than Liens permitted by Section 6.02).

 

(h)          The
Collateral and Guarantee Requirement shall have been satisfied.

 

The Administrative Agent shall notify the Company and the Lenders
of the Effective Date, and such notice shall be conclusive and binding. Notwithstanding the foregoing, the obligations of the Lenders
to make Loans and of the Issuing Lender to issue Letters of Credit hereunder shall not become effective unless each of the foregoing
conditions is satisfied (or waived pursuant to Section 9.02).

 

Section
4.02         Each Credit Event. The obligation of each Lender to make
a Loan on the occasion of any Borrowing, and of the Issuing Lender to issue, amend, renew or extend any Letter of Credit, is subject
to the satisfaction of the following conditions:

 

(a)          The
representations and warranties of each Loan Party set forth in this Agreement or any other Loan Document shall be deemed to have
been made as a part of said request for a Borrowing and shall be true and correct in all material respects on and as of the date
of such Borrowing or the date of issuance, amendment, renewal or extension of such Letter of Credit, as applicable except to the
extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct
as of such earlier date.

 

(b)          No
Material Adverse Effect shall have occurred since the date of the most recent Borrowing by the Company.

 

(c)          The
Administrative Agent shall have received a request for a Borrowing as required by Section 2.03 or the Issuing Lender and
the Administrative Agent shall have received a request for the issuance of a Letter of Credit as required by Section 2.05(b);

 

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(d)          At
the time of and immediately after giving effect to such Borrowing or the issuance, amendment, renewal or extension of such Letter
of Credit, as applicable, no Default shall have occurred and be continuing.

 

Each Borrowing and each issuance, amendment, renewal or extension
of a Letter of Credit shall be deemed to constitute a representation and warranty by the Borrowers on the date thereof as to the
matters specified in paragraphs (a), (b) and (d) of this Section.

 

Section
4.03         Initial Credit Event for each Borrowing Subsidiary. The
obligation of the Lenders to make Loans to any Borrowing Subsidiary and the obligations of the Issuing Lender to issue Letters
of Credit for the account of any Borrowing Subsidiary are subject to the satisfaction of the following conditions:

 

(a)          The
Administrative Agent (or its counsel) shall have received a Borrowing Subsidiary Agreement duly executed by such Borrowing Subsidiary
and the other parties thereto.

 

(b)          The
Administrative Agent shall have received a favorable written opinion of counsel for such Borrowing Subsidiary, in form and substance
reasonably satisfactory to Administrative Agent and Required Lenders, and covering such other matters relating to such Borrowing
Subsidiary and its Borrowing Subsidiary Agreement as the Administrative Agent shall reasonably request.

 

(c)          The
Administrative Agent shall have received such documents and certificates as the Administrative Agent or its counsel may reasonably
request relating to the organization, existence and good standing of such Borrowing Subsidiary, the authorization of the Transactions
insofar as they relate to such Borrowing Subsidiary, the satisfaction of the Collateral and Guarantee Requirement insofar as it
relates to the assets of such Borrowing Subsidiary and any other legal matters relating to such Borrowing Subsidiary, its Borrowing
Subsidiary Agreement or such Transactions, all in form and substance reasonably satisfactory to the Administrative Agent and its
counsel.

 

ARTICLE
V

 

Affirmative
Covenants

 

Until the Commitments
have expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder shall have been paid
in full and all Letters of Credit shall have expired or terminated and all LC Disbursements shall have been reimbursed, each Borrower
covenants and agrees with the Lenders that:

 

Section
5.01         Financial Statements and Other Information. The Company
will furnish to the Administrative Agent and each Lender:

 

(a)          within
90 days after the end of each fiscal year of the Company, the audited consolidated balance sheet and related statements of operations,
stockholders’ equity and cash flows as of the end of and for such year, setting forth in each case in comparative form the
figures for the previous fiscal year, of the Company and the consolidated Subsidiaries as of such year, all reported on by KPMG
LLP or other independent public accountants of recognized national standing (without a “going concern” or like qualification
or exception and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial
statements present fairly in all material respects the financial condition and results of operations of the Company and the consolidated
Subsidiaries on a consolidated basis in accordance with GAAP consistently applied;

 

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(b)          within
45 days after the end of each of the first three Fiscal Quarters of each fiscal year of the Company, the consolidated balance sheets
and related statements of operations, stockholders’ equity and cash flows as of the end of and for such Fiscal Quarter and
the then elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for the corresponding period
or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, of the Company and the consolidated
Subsidiaries and Company and the Restricted Subsidiaries as of such year, all certified by one of the Company’s Financial
Officers as presenting fairly in all material respects the financial condition and results of operations of the Company and its
consolidated Subsidiaries or the Company on a consolidated basis in accordance with GAAP consistently applied, subject to normal
year-end audit adjustments and the absence of footnotes;

 

(c)          concurrently
with any delivery of financial statements under clause (a) or (b) above, a certificate of a Financial Officer of the Company (i)
certifying as to whether a Default has occurred and, if a Default has occurred, specifying the details thereof and any action taken
or proposed to be taken with respect thereto, (ii) setting forth reasonably detailed calculations demonstrating compliance with
Section 6.16 and 6.17, (iii) setting forth in a reasonably detailed schedule, a comparison of the consolidated
results under clause (a) or (b) above with the financial condition and results of operations of the Company and its consolidated
Restricted Subsidiaries, and (iv) stating whether any change in GAAP or in the application thereof has occurred since the date
of the audited financial statements referred to in Section 3.04 and, if any such change has occurred, specifying the effect
of such change on the financial statements accompanying such certificate;

 

(d)          concurrently
with any delivery of financial statements under clause (a) above, any management letter delivered to the management of the
Company by the accounting firm that reported on such financial statements;

 

(e)          promptly
after the same become publicly available, copies of all periodic and other reports, proxy statements and other materials filed
by the Company or any Subsidiary with the Securities and Exchange Commission, or any Governmental Authority succeeding to any or
all of the functions of said Commission, or with any national securities exchange, or distributed by the Company to its shareholders
generally, as the case may be;

 

(f)          promptly
following any request therefor, such other information regarding the operations, business affairs and financial condition of the
Company or any Subsidiary, or compliance with the terms of this Agreement, as the Administrative Agent or any Lender may reasonably
request;

 

(g)          within
120 days after the end of each fiscal year, a summary description of the insurance policies of the Company and its Subsidiaries;
and

 

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(h)          promptly
following any request thereof, all information and/or documentation necessary to comply with the USA PATRIOT Act or for Administrative
Agent to confirm compliance with the USA PATRIOT Act.

 

Documents required to
be delivered pursuant to Section 5.01 may be delivered electronically and if so delivered, shall be deemed to have been
delivered on the date (i) on which the Company posts such documents, or provides a link thereto on the Company’s website
on the Internet at www.bench.com or (ii) on which such documents are delivered to the Administrative Agent. The Administrative
Agent shall post such documents on the Company’s behalf on an Internet or intranet website, if any, to which each Lender
and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative
Agent); provided that the Company shall deliver such documents in a form acceptable to the Administrative Agent; provided
further that Company shall be obligated to pay for all start-up and on-going maintenance costs associated with such Internet
or intranet website. Except for such compliance certificates, the Administrative Agent shall have no obligation to maintain copies
of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Company with any
such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies
of such documents.

 

Section
5.02         Notices of Material Events. The Company will furnish to
the Administrative Agent and each Lender prompt and, in any event, within five Business Days, written notice of the following:

 

(a)          the
occurrence of any Default;

 

(b)          the
filing or commencement of any action, suit or proceeding by or before any arbitrator or Governmental Authority against or affecting
the Company or any of its Subsidiaries or any Affiliate thereof that, if adversely determined, could reasonably be expected to
result in a Material Adverse Effect or that in any manner questions the validity of the Loan Documents;

 

(c)          the
occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, could reasonably be expected
to result in liability of the Company and its Subsidiaries in an aggregate amount exceeding $25,000,000 (inclusive of fees and
penalties);

 

(d)          the
occurrence of any event or any other development by which the Company or any of its Subsidiaries (i) fails to comply with
any Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any Environmental
Law, (ii) becomes subject to any Environmental Liability, (iii) receives notice of any claim with respect to any Environmental
Liability or (iv) becomes aware of any basis for any Environmental Liability and in each of the preceding clauses, which individually
or in the aggregate, could reasonably be expected to result in a Material Adverse Effect; and

 

(e)          any
other development (including the termination of any material contract) that results in, or could reasonably be expected to result
in, a Material Adverse Effect.

 

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Each notice delivered under this Section shall be accompanied
by a statement of a Financial Officer or other executive officer of the Company setting forth the details of the event or development
requiring such notice and any action taken or proposed to be taken with respect thereto.

 

Section
5.03         Information Regarding Collateral. The Company will furnish
to the Administrative Agent prompt written notice of any change (a) in any Loan Party’s corporate name or in the ownership
of its properties, (b) in any Loan Party’s identity or corporate structure or (c) in any Loan Party’s Federal
Taxpayer Identification Number and, at the time of the delivery of the financial statements required under Section 5.01(a),
the Company will furnish to the Administrative Agent written notice of any change in the location of any office or facility at
which Collateral is located or in which any Loan Party maintains books or records relating to Collateral owned by it. The Company
agrees not to effect or permit any change referred to in the preceding sentence unless all filings have been made under the UCC
or otherwise that are required in order for the Administrative Agent to continue at all times following such change to have a
valid, legal and perfected security interest in all the Collateral. The Company also agrees promptly to notify the Administrative
Agent if any material portion of the Collateral is damaged or destroyed.

 

Section
5.04         Existence; Conduct of Business. The Company will, and
will cause each of its Subsidiaries to, do or cause to be done all things necessary to preserve, renew and keep in full force
and effect its legal existence and the rights, licenses, permits, privileges, franchises, patents, copyrights, trademarks and
trade names material to the conduct of its business, except where the failure to do so, individually or in the aggregate, could
not reasonably be expected to result in a Material Adverse Effect; provided that the foregoing shall not prohibit any merger,
consolidation, liquidation or dissolution permitted under Section 6.03.

 

Section
5.05         Payment of Obligations. The Company will, and will cause
each of its Subsidiaries to, pay its Indebtedness and other obligations, including Tax liabilities, before the same shall become
delinquent or in default, except where (a) the validity or amount thereof is being contested in good faith by appropriate proceedings,
(b) the Company or such Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with GAAP,
(c) such contest effectively suspends collection of the contested obligation and enforcement of any Lien securing such obligation
and (d) the failure to make payment pending such contest could not reasonably be expected to result in a Material Adverse Effect.

 

Section
5.06         Maintenance of Properties; Insurance. The Company will,
and will cause each of its Subsidiaries to keep and maintain all property material to the conduct of its business in good working
order and condition, ordinary wear and tear excepted, except where the failure to do so, individually or in the aggregate, could
not reasonably be expected to result in a Material Adverse Effect.

 

Section
5.07         Insurance. The Company will, and will cause each of its
Subsidiaries to, maintain, with financially sound and reputable insurance companies (a) insurance in such amounts (with no greater
risk retention) and against such risks as are customarily maintained by companies of established repute engaged in the same or
similar businesses operating in the same or similar locations and (b) all insurance required to be maintained pursuant to the
Security Documents.

 

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Section
5.08         Books and Records; Inspection and Audit Rights. The Company
will, and will cause each of its Subsidiaries to, keep proper books of record and account in which full, true and correct entries
are made of all material dealings and transactions in relation to its business and activities. The Company will, and will cause
each of its Subsidiaries to, permit any representatives designated by the Administrative Agent or any Lender, upon reasonable
prior notice, to visit and inspect its properties, to examine and make extracts from its books and records, and to discuss its
affairs, finances and condition with its officers and independent accountants, all at such reasonable times and as often as reasonably
requested, all at the Administrative Agent’s or such Lender’s expense, except with respect to any inspection or examination
and related discussions during a Default or Event of Default, in which case, the provisions of Section 9.03 shall apply.

 

Section
5.09         Compliance with Laws. The Company will, and will cause
each of its Subsidiaries to, comply with all Laws (including Environmental Laws) and Orders applicable to it or its property,
except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material
Adverse Effect.

 

Section
5.10         Use of Proceeds and Letters of Credit. The proceeds of
the Loans will be used only for working capital and other general corporate purposes, including, without limitation, Acquisitions.
No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of
any of the Regulations of the Board, including Regulations T, U and X.

 

Section
5.11         Additional Subsidiaries. If any additional Subsidiary
is formed or acquired after the Effective Date, the Company will, no more than thirty days after such Subsidiary is formed or
acquired, notify the Administrative Agent and the Lenders thereof and cause the Collateral and Guarantee Requirement to be satisfied
(to the extent applicable) with respect to such Subsidiary and with respect to any Equity Interest in or Indebtedness of such
Subsidiary owned or to be owned by or on behalf of the Company or any other Subsidiary.

 

Section
5.12         Ownership of Subsidiaries.

 

(a)          The
Company will, and will cause each of the Subsidiaries to, ensure that all Equity Interests in Domestic Subsidiaries are owned directly
or indirectly at all times only by the Company or one or more other Domestic Subsidiaries.

 

(b)          The
Company will, and will cause each of the Subsidiaries to, ensure that any Foreign Subsidiary (including each Foreign Subsidiary
acquired in connection with an Acquisition), is owned directly or indirectly at all times by the Company or a Qualified Foreign
Subsidiary Holding Company.

 

(c)          The
Company will, and will cause each of the Subsidiaries to, ensure that all Equity Interests in Material Domestic Subsidiaries are
owned directly or indirectly at all times only by the Company or one or more Material Domestic Subsidiaries.

 

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Section
5.13         Further Assurances. The Company will, and will cause each
Subsidiary to, at its own cost and expense, execute, acknowledge and deliver any and all further documents, financing statements,
agreements and instruments and take all such further actions, (including the filing and recording of financing statements, and
other documents) which may be required under any applicable Law, or which may from time to time be reasonably necessary or as
the Required Lenders may from time to time reasonably request in order to carry out the intent and purpose of the Loan Documents
and the Transactions, including all such actions to establish, preserve, protect and perfect the estate, right, title and interest
of the Lenders, or the Administrative Agent for the benefit of the Lenders, to the Collateral (including Collateral acquired after
the Effective Date) and preserve, protect and perfect first priority Liens (subject to Liens permitted by Section 6.02)
in favor of the Lenders, or the Administrative Agent for the benefit of the Lenders, on any and all assets of the Company and
the Subsidiaries, now owned or hereafter acquired, that are Collateral.

 

ARTICLE
VI

Negative Covenants

 

Until the Commitments
have expired or terminated and the principal of and interest on each Loan and all fees payable hereunder shall have been paid in
full and all Letters of Credit have expired or terminated and all LC Disbursements shall have been reimbursed, each Borrower covenants
and agrees with the Lenders that:

 

Section
6.01         Indebtedness. The Company will not, and will not permit
any Subsidiary to, create, incur, assume or permit to exist any Indebtedness, except:

 

(a)          the
Obligations;

 

(b)          Subordinated
Indebtedness;

 

(c)          Indebtedness
existing on the Effective Date and set forth in Schedule 6.01 and extensions, renewals and replacements of any such Indebtedness
that do not increase the outstanding principal amount thereof or shorten the maturity or the weighted average life thereof;

 

(d)          Intercompany
Indebtedness (to the extent permitted by Section 6.04);

 

(e)          Guarantees
by the Company or any Subsidiary of Indebtedness of the Company or any Restricted Subsidiary which Indebtedness is permitted under
this Section, provided, in no event shall the Company or any Subsidiary guarantee the Indebtedness of any Unrestricted Subsidiary
or any Subsidiary that is not a Loan Party hereunder other than guarantees of trade payables of Unrestricted Subsidiaries in the
ordinary course of business not to exceed $10,000,000 at any time outstanding.

 

(f)          Indebtedness
of the Company or any Domestic Subsidiary or any Foreign Borrower incurred to finance the acquisition, construction or improvement
of any fixed or capital assets, including Capital Lease Obligations, and any Indebtedness assumed in connection with the acquisition
of any such assets or secured by a Lien on any such assets prior to the acquisition thereof, and extensions, renewals and replacements
of any such Indebtedness that do not increase the outstanding principal amount thereof or result in an earlier maturity date or
decreased weighted average life thereof; provided that (i) such Indebtedness is incurred prior to or within 90 days after
such acquisition or the completion of such construction or improvement and (ii) the aggregate principal amount of Indebtedness
permitted by this clause (f) shall not exceed $100,000,000 at any time outstanding;

 

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(g)          Indebtedness
of any Person that becomes a Domestic Subsidiary or a Foreign Borrower after the Effective Date; provided that (i) such
Indebtedness exists at the time such Person becomes a Domestic Subsidiary or a Foreign Borrower, as the case may be, and is not
created in contemplation of or in connection with such Person becoming a Domestic Subsidiary or a Foreign Borrower and (ii) the
aggregate principal amount of Indebtedness permitted by this clause (g) shall not exceed twenty-five percent (25%) of pro forma
Consolidated EBITDA for the four consecutive Fiscal Quarter period ending on the last day of the immediately prior Fiscal Quarter
at the time such Person becomes a Domestic Subsidiary or a Foreign Borrower;

 

(h)          Indebtedness
of Unrestricted Subsidiaries for which neither the Company nor any Restricted Subsidiary shall be liable as obligor, under any
Guarantee or otherwise;

 

(i)          other
unsecured Indebtedness so long as, after giving effect thereto, the Company is in proforma compliance with the financial covenants
in Section 6.16 and Section 6.17; and

 

(j)          other
secured Indebtedness incurred by Foreign Subsidiaries that are Restricted Subsidiaries for working capital purposes in an aggregate
principal amount not exceeding twenty-five percent (25%) of Consolidated EBITDA for the four consecutive Fiscal Quarter period
ending on the last day of the immediately prior Fiscal Quarter at the time such Indebtedness is incurred.

 

Section
6.02         Liens. The Company will not, and will not permit any Subsidiary
to, create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired by it, or assign
or sell any income or revenues (including accounts receivable) or rights in respect of any thereof, except:

 

(a)          Liens
created under the Loan Documents;

 

(b)          Permitted
Encumbrances;

 

(c)          any
Lien on any property or asset of the Company or any Subsidiary existing on the Effective Date and set forth in Schedule 6.02;
provided that (i) such Lien shall not apply to any other property or asset of the Company or any Subsidiary and (ii) such
Lien shall secure only those obligations which it secures on the Effective Date, and extensions, renewals and replacements thereof
that do not increase the outstanding principal amount thereof;

 

(d)          any
Lien existing on any property or asset prior to the acquisition thereof by the Company or any Subsidiary or existing on any property
or asset of any Person that is merged or consolidated with or into the Company or any of its Subsidiaries or becomes a Subsidiary
after the Effective Date prior to the time such Person is so merged or consolidated or becomes a Subsidiary; provided that (i)
such Lien is not created in contemplation of or in connection with such acquisition or such Person becoming a Subsidiary, as the
case may be, (ii) such Lien shall not apply to any other property or assets of the Company or any Subsidiary and (iii) such
Lien shall secure only those obligations which it secures on the date of such acquisition or the date such Person becomes a Subsidiary,
as the case may be, and extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof;

 

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(e)          Liens
on fixed or capital assets acquired, constructed or improved by the Company or any Subsidiary, including Liens deemed to exist
in respect of assets subject to Capital Lease Obligations; provided that (i) such security interests secure Indebtedness
permitted by clause (f) of Section 6.01, (ii) such security interests and the Indebtedness secured thereby are incurred
prior to or within 90 days after such acquisition or the completion of such construction or improvement, (iii) the Indebtedness
secured thereby does not exceed the cost of acquiring, constructing or improving such fixed or capital assets and (iv) such security
interests shall not apply to any other property or assets of the Company or any Subsidiary;

 

(f)          Liens
securing Intercompany Indebtedness permitted under Section 6.01(d);

 

(g)          Extensions,
renewals or replacements of any Lien referred to in clauses (c), (d) and (e) of this Section; provided that the principal
amount of the Indebtedness or obligations secured thereby is not increased and that any such extension, renewal or replacement
is limited to the assets originally encumbered thereby;

 

(h)          Liens
on the assets of Unrestricted Subsidiaries securing Indebtedness permitted under Section 6.01(h);

 

(i)          Liens
securing Indebtedness permitted under Section 6.01(j); and

 

(j)          additional
Liens incurred by the Company and its Subsidiaries so long as the value of the property subject to such Liens, and the Indebtedness
and other obligations secured thereby do not exceed $5,000,000 at any time.

 

Section
6.03         Fundamental Changes.

 

(a)          The
Company will not, and will not permit any Subsidiary to, merge into or consolidate with any other Person, or permit any other Person
to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one transaction or in a series of transactions)
all or substantially all of its assets, or all or substantially all of the Equity Interests of any of its Subsidiaries (in each
case, whether now owned or hereafter acquired), or liquidate or dissolve, except that, if at the time thereof and immediately after
giving effect thereto no Default shall have occurred and be continuing

 

(i)          any
Person may merge into the Company in a transaction in which the Company is the surviving corporation;

 

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(ii)         any
Person may merge with or into any Subsidiary in a transaction in which the surviving entity is a Subsidiary; provided that
(A) if any party to such merger is a Loan Party the surviving Person must also be a Loan Party and must succeed to all the obligations
of such Loan Party under the Loan Documents and (B) if any party to such merger is a Restricted Subsidiary the surviving Person
shall also be a Restricted Subsidiary unless designated as an Unrestricted Subsidiary pursuant to the definition of such term;

 

(iii)        any
Subsidiary (other than a Loan Party) may liquidate or dissolve if the Company determines in good faith that such liquidation or
dissolution is in the best interests of the Company and is not materially disadvantageous to the Lenders; and

 

(iv)         sales
permitted by Section 6.05;

 

provided that any such merger involving a Person that
is not a Wholly Owned Subsidiary immediately prior to such merger shall not be permitted unless also permitted by Section 6.04.

 

(b)          The
Company will not, and will not permit any of its Subsidiaries to, engage to any material extent in any business other than businesses
of the type conducted by the Company and its Subsidiaries on the Effective Date and businesses reasonably related thereto.

 

Section
6.04         Investments, Loans, Advances, Guarantees and Acquisitions.
The Company will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger
with any Person that was not a Wholly Owned Subsidiary prior to such merger) any Equity Interests in or evidences of indebtedness
or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist
any loans or advances to, Guarantee any obligations of, or make or permit to exist any investment or any other interest in, any
other Person (all of the foregoing being collectively called “Investments”), or purchase or otherwise acquire
(in one transaction or a series of transactions) any assets of any other Person (other than inventory acquired in the ordinary
course of business) constituting a business unit or are substantial in relation to the consolidated assets of the Company, except:

 

(a)          Permitted
Investments by the Company and any Subsidiary and Permitted Foreign Investments by any Foreign Subsidiary, to the extent such Permitted
Foreign Investments are either (i) generated by a Foreign Subsidiary organized in the same jurisdiction of organization of the
commercial bank with which such Investment is maintained or (ii) consist of capital contributions made to such Foreign Subsidiary
for the purpose of operations in the ordinary course of business;

 

(b)          Investments
existing on the Effective Date and set forth on Schedule 6.04;

 

(c)          Investments
existing on the Effective Date in Subsidiaries;

 

(d)          additional
Investments in Persons that, immediately prior to such investments, are Restricted Subsidiaries;

 

(e)          Investments
by Unrestricted Subsidiaries in Persons that, immediately prior to such investments, are Unrestricted Subsidiaries;

 

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(f)          Investments
consisting of all the issued and outstanding capital stock, or all or substantially all the assets, of Persons engaged in lines
of business permitted under Section 6.03(b); provided that (i) no Default shall have occurred and be continuing
at the time any such Investment is made or would occur as a result thereof, and (ii) immediately after giving effect to such Investment,
the proforma Leverage Ratio shall not exceed 2.75 to 1.0; provided, further, that if the proforma Leverage Ratio
shall be greater than 2.25 to 1.0 but less than or equal to 2.75 to 1.0 immediately after giving effect to such Investment, such
Investment shall be paid for with cash consideration only in an amount, when combined with the aggregate cash consideration for
all other Investments made pursuant to this clause (f) at times when the proforma Leverage Ratio shall be greater than 2.25 to
1.0 but less than or equal to 2.75 to 1.0, not to exceed $50,000,000 in the aggregate over the term of this Agreement;

 

(g)          Guarantees
constituting Indebtedness permitted by Section 6.01; provided that a Subsidiary shall not Guarantee any Subordinated
Indebtedness;

 

(h)          investments
received in connection with the bankruptcy or reorganization of, or settlement of delinquent accounts and disputes with, customers
and suppliers, in each case in the ordinary course of business;

 

(i)          accounts
receivable arising in the ordinary course of business;

 

(j)          Investments
held by any Subsidiary at the time it becomes a Subsidiary in a transaction permitted by this Section;

 

(k)         reasonable
advances to officers and employees of the Company and any Subsidiary for travel arising in the ordinary course of business;

 

(l)          loans
to officers and employees of the Company or any Subsidiary, not to exceed $1,000,000 in the aggregate at any one time outstanding;

 

(m)        promissory
notes and other noncash consideration received by the Company and its Subsidiaries in connection with any asset sale permitted
hereunder;

 

(n)         advances
in the form of prepayments of expenses, so long as such expenses were incurred in the ordinary course of business and are paid
in accordance with customary trade terms of the Company or any of its Subsidiaries;

 

(o)         Guarantees
by the Company of obligations of Restricted Subsidiaries incurred in the ordinary course of business and not constituting Indebtedness;
and

 

(p)         other
Investments made by the Company, any Domestic Subsidiary or any Foreign Subsidiary at times when no Default or Event of Default
shall have occurred and be continuing or would occur as a result thereof and that, taken together with all other investments made
after the Effective Date under this clause (p) would not exceed $25,000,000.

 

Section
6.05         Asset Sales, etc. The Company will not, and will not permit
any of its Restricted Subsidiaries to, sell, transfer, lease or otherwise dispose of any asset, including any Equity Interest,
except:

 

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(a)          sales
of inventory, used or surplus equipment, Permitted Investments and Permitted Foreign Investments in the ordinary course of business
or as expressly permitted elsewhere in this Agreement;

 

(b)          sales,
transfers and dispositions to the Company or a Restricted Subsidiary;

 

(c)          sales,
transfers and dispositions to any Unrestricted Subsidiary; provided that such sales, transfers and dispositions are in the
ordinary course of business at prices and on terms and conditions not less favorable to the Company or such Unrestricted Subsidiary
than could be obtained on an arm’s-length basis from unrelated third parties; and

 

(d)          sales,
transfers and other dispositions of other assets (other than transfers of less than 100% of the Equity Interests in any Subsidiary);
provided that (i) the aggregate proceeds from such sales, transfers and other dispositions during any fiscal year shall
not exceed the greater of (A) 10% of Consolidated Net Tangible Assets as of the beginning of such fiscal year and (B) 10% of Consolidated
Net Income of the Company (excluding Unrestricted Subsidiaries) for such fiscal year and (ii) not more than 25% of the aggregate
proceeds from such sales, transfers and other dispositions shall be received in noncash proceeds during any fiscal year.

 

Section
6.06         Sale and Leaseback Transactions. The Company will not,
and will not permit any of its Restricted Subsidiaries to, enter into any arrangement, directly or indirectly, whereby it shall
sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereinafter acquired, and
thereafter rent or lease such property or other property that it intends to use for substantially the same purpose or purposes
as the property sold or transferred.

 

Section
6.07         Swap Agreements. The Company will not, and will not permit
any of its Subsidiaries to, enter into any Swap Agreement, except (a) Swap Agreements entered into to hedge or mitigate risks
to which the Company or any Subsidiary has actual exposure (other than those in respect of Equity Interests of the Company or
any of its Subsidiaries), and (b) Swap Agreements entered into in order to effectively cap, collar or exchange interest rates
(from fixed to floating rates, from one floating rate to another floating rate or otherwise) with respect to any interest-bearing
liability or investment of the Company or any Subsidiary.

 

Section
6.08         Restricted Payments; Certain Payments in Respect of Indebtedness.

 

(a)          The
Company will not, and will not permit any Restricted Subsidiary to, declare or make, or agree to make, directly or indirectly,
any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except that (i) Restricted Subsidiaries may
declare and pay dividends ratably with respect to their capital stock and (ii) if no Default or Event of Default has occurred and
is continuing or would occur as a result thereof, the Company may make any Restricted Payment if after giving effect to such Restricted
Payment the proforma Leverage Ratio would not exceed 2.25 to 1.0.

 

    	-72-

    	 

    

 

(b)          The
Company will not, and will not permit any Restricted Subsidiary to, make or agree to make, directly or indirectly, any payment
or other distribution (whether in cash, securities or other property) of or in respect of the principal of or interest on any Subordinated
Indebtedness, or any payment or other distribution (whether in cash, securities or other property), including any sinking fund
or similar deposit, on account of the purchase, redemption, retirement, defeasance, cancellation or termination of any Subordinated
Indebtedness, except scheduled and other mandatory payments of interest and principal in respect of Subordinated Indebtedness;
provided that no payment shall be made in respect of Subordinated Indebtedness that is prohibited by the subordination provisions
applicable to such Subordinated Indebtedness.

 

Section
6.09         Transactions with Affiliates. The Company will not, and
will not permit any of its Subsidiaries to, sell, lease or otherwise transfer any property or assets to, or purchase, lease or
otherwise acquire any property or assets from, or otherwise engage in any other transactions with, any of its Affiliates, except
(a) in the ordinary course of business at prices and on terms and conditions not less favorable to the Company or such Subsidiary
than could be obtained on an arm’s-length basis from unrelated third parties, (b) transactions between or among the Company
and its Restricted Subsidiaries not involving any other Affiliate, (c) transactions among or between Unrestricted Subsidiaries
and (d) any Restricted Payment permitted by Section 6.08.

 

Section
6.10         Restrictive Agreements. The Company will not, and will
not permit any Restricted Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other
arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Company or any Restricted Subsidiary
to create, incur or permit to exist any Lien upon any of its property or assets, or (b) the ability of any Restricted Subsidiary
(i) to declare or make any Restricted Payment, (ii) to make or repay loans or advances to the Company or any other Restricted
Subsidiary, (iii) to Guarantee Indebtedness of the Company or any other Restricted Subsidiary, or (iv) sell, lease or transfer
any of its Property to the Company or any other Restricted Subsidiary; provided that (A) the foregoing shall not apply
to restrictions and conditions imposed by law or by this Agreement, (B) the foregoing shall not apply to restrictions and conditions
existing on the Effective Date identified on Schedule 6.10 (but shall apply to any extension or renewal of, or any amendment
or modification expanding the scope of, any such restriction or condition), (C) the foregoing shall not apply to customary restrictions
and conditions contained in agreements relating to the sale of a Restricted Subsidiary pending such sale, provided such restrictions
and conditions apply only to the Restricted Subsidiary that is to be sold and such sale is permitted hereunder, (D) clause (a)
of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to secured Indebtedness permitted
by this Agreement if such restrictions or conditions apply only to the property or assets securing such Indebtedness and (E) clause
(a) of the foregoing shall not apply to customary provisions in leases and other contracts restricting the assignment thereof.

 

Section
6.11         Change in Fiscal Year. The Company will not change the
end of its fiscal year to a date other than December 31.

 

Section
6.12         Constitutive Documents. The Company will not, and will
not permit any Restricted Subsidiary to, amend its charter or by-laws or other constitutive documents in any manner which could
adversely and materially affect the rights of the Lenders under this Agreement or their ability to enforce the same, except as
otherwise permitted pursuant to Sections 6.03 or 6.04.

 

    	-73-

    	 

    

 

Section
6.13         Sales and Assignments of Income, Revenues and Receivables.
The Company will not, and will not permit any Restricted Subsidiary to, sell or assign, with or without recourse, for discount
or otherwise, any income or revenues, including notes and accounts receivable.

 

Section
6.14         Amendment of Material Documents. The Company will not,
and will not permit any Restricted Subsidiary to, amend, modify or waive in any respect materially adverse to the Company or to
the rights or interests of the Lenders any of its rights under any document evidencing or governing Subordinated Indebtedness.

 

Section
6.15         Required Material Domestic Subsidiaries. The Company will
not permit (a) the EBITDA of Domestic Subsidiaries that are not Material Domestic Subsidiaries to exceed 10% of EBITDA of
the Company and the Domestic Subsidiaries on a consolidated basis or (b) the combined assets of Domestic Subsidiaries that
are not Material Domestic Subsidiaries to exceed 10% of the assets of the Company and the Domestic Subsidiaries taken as a whole.

 

Section
6.16         Adjusted Leverage Ratio; Leverage Ratio.

 

(a)          The
Company will not permit the Adjusted Leverage Ratio as of the end of any Fiscal Quarter to exceed the ratio of 2.75 to 1.00.

 

(b)          The
Company will not permit the Leverage Ratio as of the end of any Fiscal Quarter to exceed the ratio of 2.75 to 1.00.

 

Section
6.17         Fixed Charge Coverage Ratio. The Company will not permit
the Fixed Charge Coverage Ratio as of the end of any Fiscal Quarter to be less than the ratio of 1.20 to 1.00.

 

ARTICLE
VII

 

Events of Default
and Remedies

 

Section
7.01         Events of Default. If any of the following events (“Events
of Default”) shall occur:

 

(a)          any
Borrower shall fail to pay any principal of any Loan or any reimbursement obligation in respect of any LC Disbursement when and
as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise;

 

(b)          any
Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to in clause
(a) of this Section 7.01) payable under this Agreement or the other Loan Documents, when and as the same shall become due
and payable, and such failure shall continue unremedied for a period of five days;

 

    	-74-

    	 

    

 

(c)          any
representation or warranty made or deemed made by or on behalf of the Company or any Subsidiary in or in connection with this Agreement
or any amendment or modification hereof or waiver hereunder, or in any report, certificate, financial statement, Loan Document
or other document furnished pursuant to or in connection with this Agreement or any amendment or modification hereof or waiver
hereunder, shall prove to have been incorrect in any material respect when made or deemed made;

 

(d)          the
Company or any Subsidiary shall fail to observe or perform any covenant, condition or agreement contained in Section 5.02,
5.04 (with respect to the existence of any Borrower) or 5.10 or in Article VI;

 

(e)          any
Loan Party shall fail to observe or perform any covenant, condition or agreement contained in this Agreement (other than those
specified in clause (a), (b) or (d) of this Article) or in any other Loan Document, and such failure shall continue unremedied
for a period of 30 days after the earlier of (i) the Company’s obtaining knowledge thereof or (ii) written notice thereof
from the Administrative Agent to the Company (which notice will be given at the request of any Lender);

 

(f)          the
Company or any Restricted Subsidiary shall fail to make any payment (whether of principal or interest and regardless of amount)
in respect of any Material Indebtedness, when and as the same shall become due and payable after giving effect to any applicable
grace period;

 

(g)          any
event or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or that enables
or permits (with or without the giving of notice, the lapse of time or both) the holder or holders of any Material Indebtedness
or any trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to require the prepayment,
repurchase, redemption or defeasance thereof, prior to its scheduled maturity; provided that this clause (g) shall not apply
to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such
Indebtedness;

 

(h)          an
involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization or
other relief in respect of the Company or any Restricted Subsidiary or its debts, or of a substantial part of its assets, under
any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect or (ii) the appointment
of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Company or any Restricted Subsidiary or
for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue undismissed for 60 days
or an order or decree approving or ordering any of the foregoing shall be entered;

 

(i)          the
Company or any Restricted Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization
or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect,
(ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described
in clause (h) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator
or similar official for the Company or any Restricted Subsidiary or for a substantial part of its assets, (iv) file an answer admitting
the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of
creditors or (vi) take any action for the purpose of effecting any of the foregoing;

 

    	-75-

    	 

    

 

(j)          the
Company or any Restricted Subsidiary shall become unable, admit in writing its inability or fail generally to pay its debts as
they become due;

 

(k)          one
or more judgments for the payment of money in an aggregate amount in excess of $25,000,000 shall be rendered against the Company,
any Restricted Subsidiary or any combination thereof and the same shall remain undischarged for a period of 30 consecutive days
during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or
levy upon any assets of the Company or any Restricted Subsidiary to enforce any such judgment;

 

(l)          an
ERISA Event shall have occurred that, in the opinion of the Required Lenders, when taken together with all other ERISA Events that
have occurred, could reasonably be expected to result in liability of the Company and its Subsidiaries in an aggregate amount exceeding
(i) $10,000,000 (inclusive of fees and penalties) in any year or (ii) $25,000,000 (inclusive of fees and penalties) for all periods;

 

(m)          any
Loan Document or any material provision thereof shall at any time cease to be in full force and effect, or a proceeding shall be
commenced by any Loan Party or any other Person seeking to establish the invalidity or unenforceability thereof (exclusive of questions
of interpretation thereof), or any Loan Party shall repudiate or deny that it has any liability or obligation for the payment of
principal or interest or other obligations purported to be created under any Loan Document;

 

(n)          any
Lien created by any of the Security Documents shall at any time fail to constitute a valid and (to the extent required by the Security
Documents) perfected Lien on any material portion of the Collateral purported to be subject thereto, securing the obligations purported
to be secured thereby, with the priority required by the Loan Documents, or any Loan Party shall so assert in writing; or

 

(o)          a
Change in Control shall occur;

 

then, and in every such event (other than an event with respect
to the Company described in clause (h) or (i) of this Article), and at any time thereafter during the continuance of such event,
the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Company, take any or all of the
following actions, at the same or different times: (i) terminate the Commitments, and thereupon the Commitments shall terminate
immediately, (ii) declare the Loans then outstanding to be due and payable in whole (or in part, in which case any principal not
so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so
declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Borrowers accrued
hereunder, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which
are hereby waived by the Borrowers; and in case of any event with respect to the Company described in clause (h) or (i) of this
Article, the Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued interest
thereon and all fees and other obligations of the Borrowers accrued hereunder, shall automatically become due and payable, without
presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers, and (iii) exercise any
or all of the remedies available to it under the Security Documents, at law or in equity.

 

    	-76-

    	 

    

 

Section
7.02         Cash Collateral. Upon the occurrence and during the continuance
of any Event of Default, the Company shall, if requested by the Administrative Agent or the Required Lenders, pay to the Administrative
Agent an amount in immediately available funds (which funds shall be held as collateral pursuant to arrangements satisfactory
to the Administrative Agent) equal to the LC Exposure as of such date plus any accrued and unpaid interest thereon under all Letters
of Credit then outstanding at such time; provided that, upon the occurrence of any Event of Default specified in Section 7.01(h)
or (i), the Company shall pay such amount forthwith without any notice or demand or any other act by the Administrative
Agent or the Lenders.

 

ARTICLE
VIII

 

The Administrative
Agent

 

Each of the Lenders and
the Issuing Lender hereby irrevocably appoints the Administrative Agent as its agent and authorizes the Administrative Agent to
take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof, together
with such actions and powers as are reasonably incidental thereto.

 

The bank serving as the
Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise
the same as though it were not the Administrative Agent, and such bank and its Affiliates may accept deposits from, lend money
to and generally engage in any kind of business with the Company or any Subsidiary or other Affiliate thereof as if it were not
the Administrative Agent hereunder.

 

The Administrative Agent
shall not have any duties or obligations except those expressly set forth herein. Without limiting the generality of the foregoing,
(a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has
occurred and is continuing, (b) the Administrative Agent shall not have any duty to take any discretionary action or exercise any
discretionary powers, except discretionary rights and powers expressly contemplated hereby that the Administrative Agent is required
to exercise in writing as directed by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary
under the circumstances as provided in Section 9.02), and (c) except as expressly set forth herein, the Administrative Agent shall
not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Company or
any of its Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent or any of its Affiliates
in any capacity. The Administrative Agent shall not be liable for any action taken or not taken by it with the consent or at the
request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances
as provided in Section 9.02) or in the absence of its own gross negligence or willful misconduct. The Administrative Agent
shall be deemed not to have knowledge of any Default unless and until written notice thereof is given to the Administrative Agent
by the Company or a Lender, and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire
into (i) any statement, warranty or representation made in or in connection with this Agreement, (ii) the contents of any certificate,
report or other document delivered hereunder or in connection herewith, (iii) the performance or observance of any of the covenants,
agreements or other terms or conditions set forth herein, (iv) the validity, enforceability, effectiveness or genuineness of this
Agreement or any other agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article IV
or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent.

 

    	-77-

    	 

    

 

The Administrative Agent
shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent,
statement, instrument, document or other writing believed by it to be genuine and to have been signed or sent by the proper Person.
The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to be made by the
proper Person, and shall not incur any liability for relying thereon. The Administrative Agent may consult with legal counsel (who
may be counsel for the Company), independent accountants and other experts selected by it, and shall not be liable for any action
taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

 

The Administrative Agent
may perform any and all its duties and exercise its rights and powers by or through any one or more sub-agents appointed by the
Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all its duties and exercise its rights
and powers through their respective Related Parties. The exculpatory provisions of the preceding paragraphs shall apply to any
such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective
activities in connection with the syndication of the credit facilities provided for herein as well as activities as Administrative
Agent.

 

In addition, each of
the Lenders and the Issuing Lender hereby indemnifies the Administrative Agent (to the extent not reimbursed by the Borrowers),
ratably according to its respective pro rata share of the total of the Commitments, or if no Commitments are outstanding, the respective
pro rata share of the total of the Commitments immediately prior to the time Commitments ceased to be outstanding held by each
of them, from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses
or disbursements of any kind or nature whatsoever which may be imposed on, incurred by, or asserted against the Administrative
Agent in any way relating to or arising out of this Agreement or any action taken or omitted by the Administrative Agent under
this Agreement or the other Loan Documents (including any action taken or omitted under Article II of this Agreement); provided
that such indemnity shall not be available to the extent such liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses or disbursements are determined by a court of competent jurisdiction by final and non-appealable judgment
to have resulted from the gross negligence or willful misconduct of the Administrative Agent. Without limitation of the foregoing,
each Lender and the Issuing Lender agrees to reimburse the Administrative Agent promptly upon demand for its respective pro rata
share of the total of the Commitments of any out-of-pocket expenses (including reasonable counsel fees) incurred by the Administrative
Agent in connection with the preparation, execution, administration or enforcement of, or legal advice in respect of rights or
responsibilities under, this Agreement or the other Loan Documents to the extent that the Administrative Agent is not reimbursed
for such expenses by the Borrowers. The provisions of this section shall survive the termination of this Agreement and the payment
of the Obligations.

 

    	-78-

    	 

    

 

Subject to the appointment
and acceptance of a successor Administrative Agent as provided in this paragraph, the Administrative Agent may resign at any time
by notifying the Lenders, the Issuing Lender and the Company. Upon any such resignation, the Required Lenders shall have the right,
with the consent of Company unless an Event of Default has occurred and is continuing, to appoint a successor. If no successor
shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring
Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may, on behalf of the Lenders and
the Issuing Lender, appoint a successor Administrative Agent which shall be a bank with an office in New York, New York, or an
Affiliate of any such bank. Upon the acceptance of its appointment as Administrative Agent hereunder by a successor, such successor
shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and
the retiring Administrative Agent shall be discharged from its duties and obligations hereunder. The fees payable by the Company
to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Company
and such successor. After the Administrative Agent’s resignation hereunder, the provisions of this Article and Section
9.03 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related
Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Administrative Agent.

 

Each Lender acknowledges
that it has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and
information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender also
acknowledges 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 from time to time deem appropriate, continue to make its own decisions in taking or not taking
action under or based upon this Agreement, any related agreement or any document furnished hereunder or thereunder.

 

It is expressly understood
that the Co-Syndication Agent shall not have any duties or responsibilities under this Agreement.

 

ARTICLE
IX

 

Miscellaneous

 

Section
9.01         Notices.

 

(a)          Except
in the case of notices and other communications expressly permitted to be given by telephone (and subject to paragraph (b) below),
all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier
service, mailed by certified or registered mail or sent by telecopy, as follows:

 

    	-79-

    	 

    

 

(i)          if
to the Company or any Borrowing Subsidiary, to it, or to it in care of the Company:

 

Benchmark
Electronics, Inc.

3000 Technology
Drive

Angleton,
Texas 77515

Attention:
Kenneth S. Barrow

Telecopy No.:
979-848-5225

Telephone
No.: 979-849-6550 (ext. 1247)

 

(ii)         if
to the Administrative Agent, to

 

JPMorgan Chase
Bank, N.A.

712 Main St,
8th Floor North

Houston, Texas
77002

Attention:
Tony Eastman

Telecopy No.:
713-216-6710

Telephone
No.: 713-216-4943

 

with a copy
to:

 

JPMorgan Chase,
N.A.

10 South Dearborn,
Floor 7

IL1-0010

Chicago, Illinois
60603-2003

Attention:
Maribel Lorenzo

Telecopy No.:
312-385-7096

Telephone
No.: 312-732-5548

 

with a copy
to:

 

Andrews Kurth
LLP

600 Travis,
Suite 4200

Houston, Texas
77002

Attention:
Martha “Marty” Smith DeBusk

Telecopy No.:
713-220-4372

Telephone
No.: 713-220-7202

 

    	-80-

    	 

    

 

(iii)        if
to the Issuing Lender, to

 

JPMorgan Chase
Bank, N.A.

712 Main St,
8th Floor North

Houston, Texas
77002

Attention:
Tony Eastman

Telecopy No.:
713-216-6710

Telephone
No.: 713-216-4943

 

with a copy
to:

 

JPMorgan Chase,
N.A.

10 South Dearborn,
Floor 7

IL1-0010

Chicago, Illinois
60603-2003

Attention:
Maribel Lorenzo

Telecopy No.:
312-385-7096

Telephone
No.: 312-732-5548

 

(iv)         if
to the Swingline Lender, to

 

JPMorgan Chase
Bank, N.A.

712 Main St,
8th Floor North

Houston, Texas
77002

Attention:
Tony Eastman

Telecopy No.:
713-216-6710

Telephone
No.: 713-216-4943

 

with a copy
to:

 

JPMorgan Chase,
N.A.

10 South Dearborn,
Floor 7

IL1-0010

Chicago, Illinois
60603-2003

Attention:
Maribel Lorenzo

Telecopy No.:
312-385-7096

Telephone
No.: 312-732-5548

 

(v)          if
to any other Lender, to it at its address (or telecopy number) set forth in its Administrative Questionnaire.

 

(b)          Notices
and other communications to the Lenders hereunder may be delivered or furnished by electronic communications pursuant to procedures
approved by the Administrative Agent; provided that the foregoing shall not apply to notices pursuant to Article II
unless otherwise agreed by the Administrative Agent and the applicable Lender. The Administrative Agent or the Company may, in
its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures
approved by it; provided that approval of such procedures may be limited to particular notices or communications.

 

    	-81-

    	 

    

 

(c)          Any
party hereto may change its address or telecopy number for notices and other communications hereunder by notice to the other parties
hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall
be deemed to have been given on the date of receipt.

 

Section
9.02         Waivers; Amendments.

 

(a)          No
failure or delay by the Administrative Agent, the Issuing Lender or any Lender in exercising any right or power hereunder shall
operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance
of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or
power. The rights and remedies of the Administrative Agent, the Issuing Lender and the Lenders hereunder are cumulative and are
not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent
to any departure by the Loan Parties therefrom shall in any event be effective unless the same shall be permitted by paragraph
(b) of this Section, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which
given. Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed
as a waiver of any Default, regardless of whether the Administrative Agent, any Lender or the Issuing Lender may have had notice
or knowledge of such Default at the time.

 

(b)          Neither
this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing
entered into by the Company and the Required Lenders or, in the case of any other Loan Documents, pursuant to an agreement or agreements
in writing entered into by the Administrative Agent and the Loan Party or Loan Parties that are parties thereto, in each case with
the consent of the Required Lenders; provided that no such agreement shall (i) increase the Commitment of any Lender without the
written consent of such Lender, (ii) reduce the principal amount of any Loan or LC Disbursement or reduce the rate of interest
thereon, or reduce any fees payable hereunder, without the written consent of each Lender affected thereby, (iii) postpone the
scheduled date of payment of the principal amount of any Loan or LC Disbursement, or any interest thereon, or any fees payable
hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any Commitment,
without the written consent of each Lender affected thereby, (iv) change Section 2.17(b) or (c) in a manner that
would alter the pro rata sharing of payments required thereby, without the written consent of each Lender, (v) change any
of the provisions of this Section or the definition of “Required Lenders” or any other provision hereof specifying
the number or percentage of Lenders required to waive, amend or modify any rights hereunder or make any determination or grant
any consent hereunder, without the written consent of each Lender, (vi) release all or substantially all the Guarantors from their
Guarantees under the Guarantee Agreement except as expressly provided in the Guarantee Agreement or Section 9.14, or limit
the liability of the Guarantors in respect of their Guarantee, without the written consent of each Lender or (vii) release all
or substantially all of the Collateral without the written consent of each Lender, provided, that nothing herein shall prohibit
the Administrative Agent from releasing any Collateral, or require the consent of the other Lenders for such release, in respect
of items sold to the extent such sale is permitted or not prohibited hereunder; provided further that no such agreement
shall amend, modify or otherwise affect the rights or duties of the Administrative Agent, the Issuing Lender or the Swingline Lender
hereunder without the prior written consent of the Administrative Agent, the Issuing Lender or the Swingline Lender, as the case
may be. Notwithstanding the foregoing, any provision of this Agreement may be amended by an agreement in writing entered into by
the Company, the Required Lenders and the Administrative Agent (and, if their rights or obligations are affected thereby the Issuing
Lender) if (i) by the terms of such agreement the Commitment of each Lender not consenting to the amendment provided for therein
shall terminate upon the effectiveness of such amendment and (ii) at the time such amendment becomes effective, each Lender not
consenting thereto receives payment in full of the principal of and interest accrued on each Loan made by it and all other amounts
owing to it or accrued for its account under this Agreement. Notwithstanding anything to the contrary herein, no Defaulting Lender
shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except that the Commitment of such Defaulting
Lender may not be increased or extended without the consent of such Defaulting Lender.

 

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Section
9.03         Expenses; Indemnity; Damage Waiver.

 

(a)          The
Company shall pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates, including
the reasonable fees, charges and disbursements of counsel and consultants for the Administrative Agent and such Affiliates, in
connection with the syndication of the credit facilities provided for herein, due diligence undertaken by the Administrative Agent
with respect to the financing contemplated by this Agreement, the preparation and administration of this Agreement or any amendments,
modifications or waivers of the provisions hereof (whether or not the transactions contemplated hereby or thereby shall be consummated),
(ii) all reasonable out-of-pocket expenses incurred by the Issuing Lender in connection with the issuance, amendment, renewal or
extension of any Letter of Credit or any demand for payment thereunder and (iii) all out-of-pocket expenses incurred by the Administrative
Agent, the Issuing Lender or, after the occurrence and during the continuance of any Default, any Lender, including the fees, charges
and disbursements of any counsel and consultant for the Administrative Agent, the Issuing Lender or any Lender, in connection with
the enforcement or protection of its rights in connection with this Agreement, including its rights under this Section, or in connection
with the Loans made or Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout,
restructuring or negotiations in respect of such Loans or Letters of Credit.

 

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(b)          The
Company shall indemnify the Administrative Agent, the Issuing Lender and each Lender, and each Related Party of any of the foregoing
Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any
and all losses, claims, damages, liabilities and related expenses, including the fees, charges and disbursements of any counsel
for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of (i) the
execution or delivery of this Agreement, the Commitment Letter dated June 4, 2012, among the Company, the Administrative Agent
and the Lead Arranger, or any agreement or instrument contemplated hereby, the performance by the parties hereto of their respective
obligations hereunder or the consummation of the Transactions or any other transactions contemplated hereby, (ii) any Loan or Letter
of Credit or the use of the proceeds therefrom (including any refusal by the Issuing Lender to honor a demand for payment under
a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter
of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property currently or formerly
owned or operated by the Company or any of its Subsidiaries, or any Environmental Liability related in any way to the Company or
any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the
foregoing, whether based on contract, tort or any other theory and regardless of whether any Indemnitee is a party thereto and
whether or not caused by the ordinary, sole or contributory negligence of any Indemnitee; provided that such indemnity
shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses
(A) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross
negligence or willful misconduct of such Indemnitee, (B) result from a claim brought by the Company or any other Loan Party
against an Indemnitee for breach in bad faith of such Indemnitee’s funding obligations hereunder, if the Company or such
Loan Party has obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction
or (C) disputes arising solely between Indemnitees and (1) not involving any action or inaction by the Company or any Subsidiary
or (2) not relating to any action of such Indemnitee in its capacity as Administrative Agent or Lead Arranger. This Section
9.03(b) shall not apply with respect to Taxes other than Taxes that represent losses, claims or damages arising from any non-Tax
claim.

 

(c)          To
the extent that the Company fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid
by it to the Administrative Agent, the Issuing Lender, the Swingline Lender or any Related Party of the foregoing, each Lender
severally agrees to pay to the Administrative Agent, the Issuing Lender, the Swingline Lender or such Related Party, as the case
may be, such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity
payment is sought based on each Lender’s Applicable Percentage of the Revolving Exposure at such time) of such unpaid amount
(including any such unpaid amount in respect of a claim asserted by such Lender); provided that the unreimbursed expense
or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative
Agent, the Issuing Lender or the Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing
acting for the Administrative Agent, the Issuing Lender or Swingline Lender in connection with such capacity.

 

(d)          To
the extent permitted by applicable Law, each party to this Agreement agrees not to assert, and each such party hereby waives, any
claim against any other party, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed
to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement or any agreement or instrument
contemplated hereby, the Transactions, any Loan or Letter of Credit or the use of the proceeds thereof; provided that nothing
in this paragraph (d) shall relieve the Company of any obligation it may have to indemnify an Indemnitee against special, indirect,
consequential or punitive damages asserted against such Indemnitee by a third party. No Indemnitee referred to in paragraph (b)
above shall be liable for damages arising from the use by unintended recipients of any information or other materials distributed
by it through telecommunications, electronic or other information transmission systems in connection with this Agreement or the
other Loan Documents or the transactions contemplated hereby or thereby, except to the extent any such damages are determined by
a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct
of such Indemnitee.

 

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(e)          All
amounts due under this Section shall be payable promptly after written demand therefor.

 

(f)          Each
party’s obligations under this Section shall survive the termination of the Loan Documents and payment of the obligations
thereunder.

 

Section
9.04         Successors and Assigns.

 

(a)          The
provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors
and assigns permitted hereby (including any Affiliate of the Issuing Lender that issues any Letter of Credit), except that (i)
a Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of
the Administrative Agent and each Lender (and any attempted assignment or transfer by a Borrower without such consent shall be
null and void) and (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance with
this Section. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person any legal or equitable
right, remedy or claim under or by reason of this Agreement, other than rights, remedies or claims in favor of the parties hereto,
their respective successors and assigns permitted hereby (including any Affiliate of the Issuing Lender that issues any Letter
of Credit), Participants (to the extent provided in paragraph (c) of this Section) and, to the extent expressly contemplated hereby,
the Related Parties of each of the Administrative Agent, the Issuing Lender and the Lenders.

 

(b)          (i)
Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or more assignees all or a portion
of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing
to it) with the prior written consent (such consent not to be unreasonably withheld) of:

 

(A)         the
Company, provided that the Company shall be deemed to have consented to an assignment unless it shall have objected thereto
by written notice to the Administrative Agent within five Business Days after having received notice thereof; provided further
that no consent of the Company shall be required for an assignment to a Lender or an Affiliate of a Lender or, if an Event of Default
under clause (a), (b), (h) or (i) of Article VII has occurred and is continuing, any other assignee;

 

(B)         the
Administrative Agent; provided that no such consent shall be required for an assignment of any Commitment to an assignee
that is a Lender with a Commitment immediately prior to giving effect to such assignment; and

 

(C)         the
Issuing Lender and the Swingline Lender.

 

(ii)         Assignments
shall be subject to the following additional conditions:

 

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(A)         except
in the case of an assignment to a Lender or an Affiliate of a Lender or an assignment of the entire remaining amount of the assigning
Lender’s Commitment, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined
as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not
be less than $5,000,000 unless each of the Company and the Administrative Agent otherwise consent, provided that no such
consent of the Company shall be required if an Event of Default under clause (a), (b), (h) or (i) of Article VII has occurred
and is continuing;

 

(B)         each
partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations
under this Agreement;

 

(C)         the
parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a
processing and recordation fee of $3,500;

 

(D)         the
assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire;

 

(E)         no
assignment shall be made to (1) a natural Person, (2) the Company or any of the Company’s Affiliates or Subsidiaries
or (3) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute
any of the foregoing Persons described in this clause (3); and

 

(F)         in
the case of an assignment to a CLO (as defined below), the assignment Lender shall retain the sole right to approve any amendment,
modification or waiver of any provisions of this Agreement, provided that the Assignment and Assumption between such Lender and
such CLO may provide that such Lender will not, without the consent of such CLO, agree to any amendment, modification or waiver
described in the first proviso to Section 9.02(b) that affects such CLO.

For the purposes
of this Section 9.04(b), the term “CLO” has the following meaning:

 

“CLO”
means any entity (whether a corporation, partnership, trust or otherwise) that is engaged in making, purchasing, holding or investing
in bank loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by (a)
a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender.

 

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(iii)        Subject
to acceptance and recording thereof pursuant to paragraph (b)(iv) of this Section, from and after the effective date specified
in each Assignment and Assumption the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by
such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder
shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement
(and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this
Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Section 2.14,
2.15, 2.16 and 9.03). Any assignment or transfer by a Lender of rights or obligations under this Agreement
that does not comply with this Section 9.04(b) shall be treated for purposes of this Agreement as a sale by such Lender
of a participation in such rights and obligations in accordance with paragraph (c) of this Section.

 

(iv)         The
Administrative Agent, acting for this purpose as an agent of the Borrowers, shall maintain at one of its offices a copy of each
Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the
Commitment of, and principal amount of the Loans and LC Disbursements owing to, each Lender pursuant to the terms hereof from time
to time (the “Register”). The entries in the Register shall be conclusive, and the Borrowers, the Administrative
Agent, the Issuing Lender and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms
hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be
available for inspection by any Borrower, the Issuing Lender and any Lender, at any reasonable time and from time to time upon
reasonable prior notice.

 

(v)          Upon
its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an assignee, the assignee’s
completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation
fee referred to in paragraph (b) of this Section and any written consent to such assignment required by paragraph (b) of this Section,
the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register;
provided that if either the assigning Lender or the assignee shall have failed to make any payment required to be made by
it pursuant to Section 2.04(c), 2.05(d) or (e), 2.06(b), 2.17(d) or 9.03(c), the Administrative
Agent shall have no obligation to accept such Assignment and Assumption and record the information therein in the Register unless
and until such payment shall have been made in full, together with all accrued interest thereon. No assignment shall be effective
for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph.

 

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(c)          Any
Lender may, without the consent of the Company, the Administrative Agent, the Issuing Lender or the Swingline Lender, sell participations
to any Person (other than any Person described in paragraph (b)(ii)(E) of this Section) (a “Participant”) in
all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment
and the Loans owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged,
(ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii)
the Company, the Administrative Agent, the Issuing Lender and the other Lenders shall continue to deal solely and directly with
such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant
to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement
and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or
instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification
or waiver described in the first proviso to Section 9.02(b) that affects such Participant. The Company agrees that each
Participant shall be entitled to the benefits of Section 2.14, 2.15 and 2.16 (subject to the requirements
and limitations therein, including the requirements under Section 2.16(f) (it being understood that the documentation required
under Section 2.16(f) shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had
acquired its interest by assignment pursuant to paragraph (b) of this Section; provided that such Participant (i) agrees
to be subject to the provisions of Section 2.18 as if it were an assignee under paragraph (b) of this Section and (ii) shall not
be entitled to receive any greater payment under Section 2.14 or 2.16, with respect to any participation, than its
participating Lender would have been entitled to receive, except to the extent such entitlement to receive a greater payment results
from a Change in Law that occurs after the Participant acquired the applicable participation. Each Lender that sells a participation
agrees, at the Company’s request and expense, to use reasonable efforts to cooperate with the Company to effectuate the provisions
of Section 2.18(b) with respect to any participant. To the extent permitted by law, each Participant also shall be entitled
to the benefits of Section 9.08 as though it were a Lender; provided that such Participant agrees to be subject to
Section 2.17(c) as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose
as an agent of the Company, maintain a register on which it enters the name and address of each Participant and the principal amounts
(and stated interest) of each Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant
Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant
Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments,
loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that such disclosure
is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section
5f.103-1(c) of the United Stated Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest
error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation
for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent
(in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register.

 

(d)          Any
Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure
obligations of such Lender, including without limitation any pledge or assignment to secure obligations to a Federal Reserve Bank,
and this Section shall not apply to any such pledge or assignment of a security interest; provided that no such pledge or
assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or
assignee for such Lender as a party hereto.

 

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Section
9.05         Survival. All covenants, agreements, representations and
warranties made by the Loan Parties herein and in the certificates or other instruments delivered in connection with or pursuant
to this Agreement shall be considered to have been relied upon by the other parties hereto and shall survive the execution and
delivery of this Agreement and the making of any Loans and issuance of any Letters of Credit, regardless of any investigation
made by any such other party or on its behalf and notwithstanding that the Administrative Agent, the Issuing Lender or any Lender
may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended hereunder,
and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any
other amount payable under this Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the
Commitments have not expired or terminated. The provisions of Section 2.14, 2.15, 2.16 and 9.03 and
Article VIII shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated
hereby, the repayment of the Loans, the expiration or termination of the Letters of Credit and the Commitments or the termination
of this Agreement or any provision hereof.

 

Section
9.06         Counterparts; Integration; Effectiveness. This Agreement
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. This Agreement, the other Loan Documents and
the Fee Letter constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all
previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section
4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative
Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto,
and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
Delivery of an executed counterpart of a signature page of this Agreement by telecopy, emailed pdf or any other electronic means
that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart
of this Agreement.

 

Section
9.07         Severability. Any provision of this Agreement 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.

 

Section
9.08         Right of Setoff. If an Event of Default shall have occurred
and be continuing, each Lender, the Issuing Lender and each of their respective Affiliates is hereby authorized at any time and
from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time
or demand, provisional or final) at any time held, and other obligations at any time owing, by such Lender, the Issuing Lender
or any such Affiliate to or for the credit or the account of any Borrower against any and all of the Obligations of any Borrower
now or hereafter existing under this Agreement or any other Loan Document to such Lender, the Issuing Lender or their respective
Affiliates, irrespective of whether or not such Lender, the Issuing Lender or such Affiliate shall have made any demand under
this Agreement or any other Loan Document and although such obligations may be unmatured; provided that in the event that
any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the
Administrative Agent for further application in accordance with the provisions of Section 2.22 and, pending such payment,
shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative
Agent, the Issuing Lender, and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a
statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right
of setoff. The rights of each Lender, the Issuing Lender and their respective Affiliates under this Section are in addition to
other rights and remedies (including other rights of setoff) that such Lender, the Issuing Lender or their respective Affiliates
may have. Each Lender and the Issuing Lender agrees to notify the Company and the Administrative Agent promptly after any such
setoff and application; provided that the failure to give such notice shall not affect the validity of such setoff and
application.

 

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Section
9.09         Governing Law; Consent to Service of Process.

 

(a)          This
Agreement and the Loan Documents shall be construed in accordance with and governed by the law of the State of Texas.

 

(b)          The
Company and each other Borrower hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive
jurisdiction of the court of the State of Texas sitting in Harris County and of the United States District Court of the Southern
District of Texas, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement,
or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees
that all claims in respect of any such action or proceeding may be heard and determined in such Texas State or, to the extent permitted
by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in
this Agreement shall affect any right that the Administrative Agent, the Issuing Lender or any Lender may otherwise have to bring
any action or proceeding relating to this Agreement against any Borrower or its properties in the courts of any jurisdiction.

 

(c)          Each
Borrower hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection
that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement
in any court referred to in paragraph (b) of this Section. Each of the parties hereto hereby irrevocably waives, to the fullest
extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

 

Without limitation of
the foregoing, nothing in this Agreement, or in the Notes or in any other Loan Document shall be deemed to constitute a waiver
of any rights which any Lender, or the holder of any Note may have under applicable federal legislation relating to the amount
of interest which such Lender or holder may contract for, take, receive or charge in respect of the Loan and the Loan Documents,
including any right to take, receive, reserve and charge interest at the rate allowed by the law of the state where any Lender
is located. The Administrative Agent, each Lender and each Borrower further agree that insofar as the provisions of Chapter 303
of the Texas Finance Code, as amended, are applicable to the determination of the Highest Lawful Rate with respect to the Notes
and the Obligations hereunder and under the other Loan Documents, the indicated rate ceiling of such Article shall be applicable;
provided, however, that to the extent permitted by such Article, the Administrative Agent may from time to time by notice to the
Company revise the election of such interest rate ceiling as such ceiling affects the then current or future balances of the Loans.
The provisions of Chapter 346 of the Texas Finance Code, as amended, do not apply to this Agreement, any Note issued hereunder
or the other Loan Documents.

 

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Section
9.10         WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY 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 ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT
OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT 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 THE FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE
MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

Section
9.11         Headings. Article and Section headings and the Table of
Contents used herein are for convenience of reference only, are not part of this Agreement and shall not affect the construction
of, or be taken into consideration in interpreting, this Agreement.

 

Section
9.12         Confidentiality. Each of the Administrative Agent, the
Issuing Lender and the Lenders agrees to maintain the confidentiality of the Information (as defined below), except that Information
may be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal
counsel and other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential
nature of such Information and instructed to keep such Information confidential), (b) to the extent requested by any regulatory
authority, (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any
other party to this Agreement, (e) in connection with the exercise of any remedies hereunder or any suit, action or proceeding
relating to this Agreement or the enforcement of rights hereunder, (f) subject to an agreement containing provisions substantially
the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in,
any of its rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or its advisors) to any
swap or derivative transaction relating to any Borrower and its obligations, (g) with the consent of the Company or (h) to the
extent such Information (i) becomes publicly available other than as a result of a breach of this Section or (ii) becomes available
to the Administrative Agent, the Issuing Lender or any Lender on a nonconfidential basis from a source other than the Company.
For the purposes of this Section, “Information” means all information received from the Company relating to
the Company or its business, other than any such information that is available to the Administrative Agent, the Issuing Lender
or any Lender on a nonconfidential basis prior to disclosure by the Company; provided that, in the case of information
received from the Company after the Effective Date, such information is clearly identified at the time of delivery as confidential.
Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied
with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information
as such Person would accord to its own confidential information.

 

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Section
9.13         Interest. Each provision in this Agreement and each other
Loan Document is expressly limited so that in no event whatsoever shall the amount paid, or otherwise agreed to be paid, to the
Administrative Agent or any Lender or charged, contracted for, reserved, taken or received by the Administrative Agent or any
such Lender, for the use, forbearance or detention of the money to be loaned under this Agreement or any Loan Document or otherwise
(including any sums paid as required by any covenant or obligation contained herein or in any other Loan Document which is for
the use, forbearance or detention of such money), exceed that amount of money which would cause the effective rate of interest
to exceed the Highest Lawful Rate, and all amounts owed under this Agreement and each other Loan Document shall be held to be
subject to reduction to the effect that such amounts so paid or agreed to be paid, charged, contracted for, reserved, taken or
received which are for the use, forbearance or detention of money under this Agreement or such Loan Document shall in no event
exceed that amount of money which would cause the effective rate of interest to exceed the Highest Lawful Rate. Anything in any
Note or any other Loan Document to the contrary notwithstanding, the Borrowers shall not be required to pay unearned interest
on any Note and the Borrowers shall not be required to pay interest on the Obligations at a rate in excess of the Highest Lawful
Rate, and if the effective rate of interest which would otherwise be payable under such Note and such Loan Documents would exceed
the Highest Lawful Rate, or if the holder of such Note shall receive any unearned interest or shall receive monies that are deemed
to constitute interest which would increase the effective rate of interest payable by the Borrowers under such Note and the other
Loan Documents to a rate in excess of the Highest Lawful Rate, then (a) the amount of interest which would otherwise be payable
by the Borrowers shall be reduced to the amount allowed under applicable law and (b) any unearned interest paid by the Borrowers
or any interest paid by the Borrowers in excess of the Highest Lawful Rate shall in the first instance be credited on the principal
of the obligations of the Borrowers (or if all such obligations shall have been paid in full, refunded to the Borrowers). It is
further agreed that, without the limitation of the foregoing, all calculations of the rate of interest contracted for, reserved,
taken, charged or received by any Lender under the Notes and the Obligations and under the other Loan Documents are made for the
purpose of determining whether such rate exceeds the Highest Lawful Rate, and shall be made, to the extent permitted by usury
laws applicable to such Lender, by amortizing, prorating and spreading in equal parts during the period of the full stated term
of the Notes and this Agreement and all interest at any time contracted for, charged or received by such Lender in connection
therewith.

 

Section
9.14         Release of Liens and Guarantees. In the event that the
Company or any Subsidiary sells, transfers or otherwise disposes of all or any portion of any of the Equity Interests, assets
or property owned by the Company or such Subsidiary in a transaction not prohibited by this Agreement, the Administrative Agent
and the Collateral Agent shall promptly (and the Lenders hereby authorize and instruct the Administrative Agent and the Collateral
Agent to) take such action and execute any such documents as may be reasonably requested by the Company and at the Company’s
expense to release any Liens created by any Loan Document in respect of such Equity Interests, assets or property, including the
release and satisfaction of record of any mortgage or deed of trust granted in connection herewith, and, in the case of a disposition
of all or substantially all the Equity Interests or assets of any Subsidiary that is a Loan Party, terminate such Subsidiary’s
obligations under the Guarantee Agreement and each other Loan Document. In addition, the Administrative Agent and the Collateral
Agent agree to take such actions as are reasonably requested by the Company and at the Company’s expense to terminate the
Liens and security interests created by the Loan Documents when all the Obligations have been paid in full and all Letters of
Credit and Commitments terminated.

 

    	-92-

    	 

    

 

Section
9.15         No Novation. The execution, delivery and effectiveness
of this Agreement shall not extinguish the obligations for the payment of money outstanding under the Original Credit Agreement,
as amended, or discharge or release the Lien or priority of any Security Document or any other security therefor. Nothing herein
contained shall be construed as a substitution or novation of the obligations outstanding under the Original Credit Agreement,
as amended or any agreements securing the same, which shall remain in full force and effect, except as modified hereby or by agreements
executed concurrently herewith. Nothing expressed or implied in this Agreement or any other document contemplated hereby shall
be construed as a release or other discharge of Company under the Original Credit Agreement, as amended, or any Guarantor under
any Loan Document from any of its obligations and liabilities thereunder. Each of the Amended and Restated Agreement and the other
Loan Documents shall remain in full force and effect until and except as expressly modified hereby.

 

Section
9.16         USA Patriot Act. Each Lender hereby notifies the Borrowers
that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)
(the “USA PATRIOT Act”), it is required to obtain, verify and record information that identifies the Borrowers,
which information includes the name and address of any Borrower and other information that will allow such Lender to identify
any Borrower in accordance with the Act.

 

Section
9.17         Joint and Several Liability. The Obligations of the Company
and each of its Domestic Subsidiaries that are Borrowing Subsidiaries hereunder and under the Loan Documents are joint and several
and the obligations of the Domestic Subsidiaries that are Guarantors under the Loan Documents are joint and several. The Obligations
of the Foreign Borrowers hereunder and under the Loan Documents are joint and several. Notwithstanding anything to the contrary
herein or under the Loan Documents, no Foreign Borrower shall have any liability whatsoever in respect of the Obligations of the
Company or any of its Domestic Subsidiaries.

 

Section
9.18         Release of Non-Material Domestic Subsidiaries.
The Company represents and warrants to the Lenders and the Administrative Agent that as of the Effective Date, Benchmark
BV Holdings, Inc., Benchmark Electronics Delaware Corp. and Benchmark Electronics Services, Inc. are not Material Domestic Subsidiaries.
In reliance upon the foregoing, the Lenders and the Administrative Agent hereby release Benchmark BV Holdings, Inc., Benchmark
Electronics Delaware Corp. and Benchmark Electronics Services, Inc. from their respective obligations under the Security Documents
to which they are a party from and after the Effective Date.

 

    	-93-

    	 

    

 

Section
9.19         FINAL AGREEMENT OF THE PARTIES. THIS AGREEMENT (INCLUDING
THE SCHEDULES AND EXHIBITS HERETO), THE NOTES AND OTHER LOAN DOCUMENTS CONSTITUTE A “LOAN AGREEMENT” AS DEFINED IN
SECTION 26.02(a) OF THE TEXAS BUSINESS AND COMMERCIAL CODE, AND REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES RELATING TO
THE SUBJECT MATTER HEREOF AND THEREOF AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS
OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

 

    	-94-

    	 

    

 

IN WITNESS WHEREOF, the
parties hereto have caused this Agreement to be duly executed by their respective authorized officers as of the day and year first
above written.

 

	 	BENCHMARK ELECTRONICS, INC.
	 	 	 
	 	By:	/s/ Gayla J. Delly
	 	Name:  	Gayla J. Delly
	 	Title:	President and Chief Executive Officer

 

    	 

    	 

    

 

	 	JPMORGAN CHASE BANK, N.A., individually
	 	and as Administrative Agent, Issuing Lender and
	 	Swingline Lender
	 	 	 
	 	By:	/s/ Anthony A. Eastman
	 	Name:  	Anthony A. Eastman
	 	Title:	Underwriter

 

    	 

    	 

    

 

	 	WELLS FARGO BANK, N.A., individually and
	 	as Co-Syndication Agent
	 	 	 
	 	By:	/s/ Greg Crowe
	 	Name:  	Greg Crowe
	 	Title: 	Senior Vice President

 

    	 

    	 

    

 

	 	COMPASS BANK, individually and as Co-
	 	Syndication Agent
	 	 	 
	 	By:	/s/ Stuart Murray
	 	Name:  	Stuart Murray
	 	Title:	Senior Vice President

 

    	 

    	 

    

 

	 	FIFTH THIRD BANK
	 	 	 
	 	By:	/s/Brian Anderson
	 	Name:  	Brian Anderson
	 	Title:	Vice President

 

    	 

    	 

    

 

	 	BRANCH BANKING AND TRUST COMPANY
	 	 	 
	 	By:	/s/ Elizabeth Willis
	 	Name:  	Elizabeth Willis
	 	Title:	Assistant Vice President

 

    	 

    	 

    

 

	 	COMERICA BANK
	 	 	 
	 	By:	/s/ Joey Powell
	 	Name:  	Joey Powell
	 	Title:	Vice President

 

    	 

    	 

    

 

	 	BANK OF AMERICA, N.A.
	 	 	 
	 	By:	/s/ Gary L. Mingle
	 	Name:  	Gary L. Mingle
	 	Title:	Senior Vice-President

 

    	 

    	 

    

 

	 	HSBC BANK USA, N.A.
	 	 	 
	 	By:	/s/ Sarah S Knudsen
	 	Name:  	Sarah S Knudsen
	 	Title:	Vice President

 

    	 

    	 

    

 

	 	BOKF, dba BANK OF TEXAS
	 	 	 
	 	By:	/s/ Marian Livingston
	 	Name:  	Marian Livingston
	 	Title:	Senior Vice President

 

    	 

    	 

    

 

Schedule 2.01

 

Commitments

 

	Lender	 	Commitment	 
	JPMorgan Chase Bank, N.A.	 	$	38,000,000.00	 
	Wells Fargo Bank, N.A.	 	$	30,000,000.00	 
	Compass Bank	 	$	27,000,000.00	 
	Fifth Third Bank	 	$	20,000,000.00	 
	Branch Banking and Trust Company	 	$	20,000,000.00	 
	Comerica Bank	 	$	20,000,000.00	 
	Bank of America, N.A.	 	$	15,000,000.00	 
	HSBC Bank USA, Inc.	 	$	15,000,000.00	 
	BOKF, NA dba Bank of Texas	 	$	15,000,000.00	 
	TOTAL	 	$	200,000,000.00	 

 

 Schedule
2.01

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