Document:

Exhibit

Exhibit 10.1
CONFIDENTIAL AGREEMENT AND RELEASE
THIS CONFIDENTIAL AGREEMENT AND RELEASE (“Agreement”) is made and entered into by and between Robert Dozier (“Dozier”), on the one hand, and Federal Home Loan Bank of Atlanta (“FHLBA”), on the other hand, referred to collectively herein as the “Parties.”
WHEREAS, Dozier is employed by FHLBA as Executive Vice President, Chief Business Officer; and
WHEREAS, Dozier has announced his intention to retire from employment with FHLBA; and
WHEREAS, FHLBA wishes to ensure an orderly transition of Dozier’s duties and responsibilities;
WHEREAS, FHLBA’s promises made herein represent consideration to which Dozier would not otherwise be entitled, and, in exchange therefore, Dozier has agreed to a general and complete release and waiver of all claims, and to abide by the terms of this Agreement;
NOW, THEREFORE, IN CONSIDERATION of the provisions and mutual promises herein contained and other good and valuable consideration the sufficiency of which is hereby acknowledged, it is agreed as follows:
1.  SEPARATION OF EMPLOYMENT AND TRANSITION PERIOD.  FHLBA and Dozier agree that Dozier’s last day of active employment shall be December 31, 2019 or such earlier date on which Dozier commences employment with an entity other than FHLBA or Dozier is terminated from employment by FHLBA for Cause (“Separation Date”).  During the period which remains before the Separation Date (the “Transition Period”), Dozier will assist in the transitioning of his responsibilities to others as directed by FHLBA’s Chief Executive Officer (“CEO”) and shall serve as a consultant to the CEO as directed, complying with all other conditions of employment as determined by the CEO. 
 
For purposes of this Agreement, “Cause” shall mean the occurrence of any of the following events: (a) Dozier’s continued failure to perform substantially his duties with FHLBA or to follow any lawful directive of the FHLBA’s Chief Executive Officer (“CEO”) or FHLBA Board of Directors (“Board”); (b) Dozier’s engaging in illegal conduct or willful misconduct which is, or is likely to be, materially injurious to FHLBA, its financial condition, or its reputation; (c) Dozier’s material violation of law or regulation applicable to FHLBA, or material violation of FHLBA’s written policies or guidelines, including, without limitation, any code of conduct or ethics adopted by FHLBA; (d) Dozier’s commission of, indictment for or conviction of, plea of guilty or nolo contendere with respect to, or agreement to enter into a pre-trial diversion or similar program in connection with the prosecution for, a felony of any type or any crime involving fraud, theft, misappropriation, embezzlement, dishonesty, breach of trust or money laundering or any form of moral turpitude; (e) Dozier’s breach of fiduciary duties owed the FHLBA; or (f)(i) FHLBA’s receipt of a written notice under 12 U.S.C. Section 1422b(a)(2) seeking Dozier’s removal or suspension, (i) the issuance of a notice of charges by the FHFA against Dozier or FHLBA based upon the actions or activities of Dozier under 12 U.S.C. 1422b(a)(5), (iii) the seeking of or entry of a cease and desist order by the FHFA against Dozier or FHLBA relating to actions of or conduct by Dozier, or (iv) the imposition of civil money penalties by the FHFA relating to action or conduct by Dozier.  Notwithstanding the foregoing, in the case of any conduct described in clauses (a), (c), or (e) of the immediately preceding sentence, if such conduct is reasonably susceptible of being cured, then Dozier’s termination shall be for “Cause” only if Dozier fails to cure such conduct within ten business (10) days after receiving written notice from FHLBA describing such conduct in reasonable detail.

2.CONSIDERATION.  Dozier acknowledges and agrees that Dozier has been paid all wages and accrued benefits due through the date of this Agreement, except for those due in the normal course for pay periods from the date of this Agreement through September 13, 2019, which will be paid via normal payroll practices, and further acknowledges and agrees that FHLBA will have no further obligation to Dozier for wages, back pay, severance pay, bonuses, incentive pay, benefits, insurance, vacation pay, sick leave, other leave, or for any other reason, except for the foregoing and as specifically set forth in this Agreement.  Any benefits to which Dozier may be entitled will be governed by the terms of the relevant benefit plan or applicable law.  

As consideration for Dozier’s promises, releases and covenant not to sue as set forth in this Agreement, FHLBA agrees as follows:

2.1 Transition Period Consideration. During the Transition Period, Dozier will be paid Dozier’s full biweekly base salary, less all applicable deductions and withholdings, and Dozier shall be entitled to continue in all FHLBA benefit plans on the same cost shared basis as Dozier participated immediately prior to the Effective Date of this Agreement. The Parties agree that, after September 13, 2019, Dozier will work remotely and will not report to the offices of FHLBA except on those occasions as directed by FHLBA’s CEO.  Further, the Parties agree that, subject to Dozier obtaining prior approval from FHLBA, which shall not be unreasonably withheld, Dozier may serve on the Board of other entities during the Transition Period.  

2.2 Special Retention/Severance Payment.  Provided that Dozier (a) remains employed until December 31, 2019; (b) complies during the Transition Period with all lawful requests and instructions from the CEO and Board and all terms of this Agreement, including, but not limited to Sections 8 through 12; and (c) executes and does not revoke a Supplemental General Release and Covenant Not to Sue in the form of Exhibit A hereto (the “Supplemental Release”), then, within fifteen (15) days following the Separation Date, FHLBA will pay Dozier the total sum of Eight Hundred Eighty One Thousand Two Hundred Fifty Dollars and Zero Cents ($881,250) as a lump sum, less all applicable deductions and withholdings (“Retention/Severance Payment”).  Fifty Thousand Dollars and Zero Cents ($50,000.00) of the Retention/Severance Payment is in consideration for Dozier’s waiver of any alleged claim arising under the Age Discrimination in Employment Act of 1967 (“ADEA”) and the remainder of the Retention/Severance Payment is in consideration of all other promises, releases and covenants by Dozier as set forth in this Agreement.  

No interest will accrue or be due on any of the payments described in this Section 2.  
3.TAX CONSEQUENCES OF SETTLEMENT.  Except for the amounts withheld by FHLBA from the payments specified in Section 2 of this Agreement, Dozier agrees that FHLBA is not liable for the payment of any tax assessed against Dozier in connection with this settlement.  Rather, Dozier agrees that any such tax shall be his sole responsibility.  Nothing contained herein shall be construed or relied upon as any advice or opinion by or on behalf of FHLBA regarding the tax treatment of the payments described in this Agreement, and Dozier hereby expressly acknowledges that he will rely solely on his own accountants, attorneys, or advisors for such advice or opinion.

4.GENERAL AND COMPLETE WAIVER AND RELEASE. Dozier waives, discharges and releases FHLBA, its affiliates, subsidiaries, officers, directors, employees, agents, shareholders, attorneys and successors and assigns (the “FHLBA Releasees”) from any and all claims, demands, charges, complaints, liabilities, obligations, actions, causes of action, suits, costs, expenses, losses, attorneys’ fees, and damages of any nature whatsoever, known or unknown, for relief of any nature at law or in equity, which Dozier now 

has, owns or holds, or claims to have, own or hold, or which Dozier at any time heretofore had, owned or held, or claimed to have, own or hold against any of the FHLBA Releasees and expressly waives and opts out of all claims, whether asserted on an individual or class action basis, against the FHLBA Releasees, including, but in no way limited to: any claim arising from or related to Dozier’s employment by FHLBA or separation from employment with FHLBA, any claim under the Age Discrimination in Employment Act of 1967 (“ADEA”), as amended; Title VII of the Civil Rights Act of 1964, as amended; 42 U.S.C. § 1981; The Civil Rights Act of 1866; the Civil Rights Act of 1991; The Americans With Disabilities Act (“ADA”); the Rehabilitation Act of 1973; the Family and Medical Leave Act (“FMLA”); the Employee Retirement Income Security Act (“ERISA”); the Equal Pay Act (“EPA”); the Consolidated Omnibus Budget Reconciliation Act (“COBRA”); the Occupational Safety and Health Act (“OSHA”); all “whistleblower claims” or other claims involving the violation of public policy, retaliation, or interference with legal rights, but only to the extent allowed by law, and all claims alleging an adverse employment action motivated by employee activity protected by any local, state, or federal law; any and all other federal, state, and local employment or discrimination laws; any tort, or constitutional claims; and any alleged breach of contract claims (specifically including, but not limited to, any claim based on any contract of employment) or claims of promissory estoppel through the Effective Date of this Agreement. Dozier represents that Dozier has not assigned to any other person any of such claims and that Dozier has the full right to grant this release. It is agreed that this is a general release and it is to be broadly construed as a release of all claims; provided that, notwithstanding the foregoing, this Section expressly does not include a release of any claims that cannot be released hereunder by law and provided further that, notwithstanding the foregoing, this Section expressly does not include a release of any claims for vested pension or other benefits.  

Dozier understands that Dozier is releasing claims that Dozier may not know about.  Dozier acknowledges that Dozier is doing so knowingly and voluntarily.  Dozier expressly waives all rights Dozier might have under any law that is intended to protect Dozier from waiving unknown claims.  Dozier understands the significance of doing so.
5.COVENANT NOT TO SUE.  Dozier covenants not to file a lawsuit, commence an arbitration or otherwise pursue any of the claims released by this Agreement. This Covenant Not to Sue includes, but is not limited to, claims arising under federal, state or local laws prohibiting employment discrimination and whistleblower retaliation, claims arising under severance plans and contracts, tort claims and claims growing out of any legal restrictions on FHLBA’s rights to take any employment action, whether statutory, contractual or arising under common law or case law.  It is understood and agreed that Dozier is not prohibited from filing an administrative charge with or participating in an investigation conducted by the U.S. Equal Employment Opportunity Commission (“EEOC”) or other local, state or federal governmental agency. With respect to such agency filings or charges, however, Dozier agrees that Dozier waives all claims for, and is not entitled to, any damages for alleged violations of Dozier’s rights or personal injuries suffered by Dozier occurring before the Effective Date of this Agreement.

6.EMPLOYMENT REFERENCE.  Dozier will direct any person or entity seeking a reference or information from FHLBA concerning Dozier exclusively to either Wesley McMullan, FHLBA’s CEO, or Bryan Delong, FHLBA’s Chief Human Resources Officer, or Mr. Delong’s successor (“CHRO”), who will provide a reference consistent with the content of Exhibit B.  Dozier will not provide the name of any other employee, officer, or director of FHLBA as a potential reference without first obtaining the express written consent of FHLBA’s CEO or CHRO.

7.RECORDS / FHLBA PROPERTY.  Dozier covenants and agrees that, prior to the Separation Date, he will return to FHLBA all physical and electronic files, memoranda, records, documents, photographs, 

computer discs, audiotapes, videotapes, and manuals, including all copies or reproductions of the same, that Dozier received from FHLBA or directly obtained through his employment with FHLBA, and all equipment or other property furnished to him by FHLBA, including, but in no way limited to, all security passes and credit cards; provided, however, that Dozier shall be permitted to retain his FHLBA issued cell phone and iPad after FHLBA ensures that FHLBA information is removed from such devices.

8.CONFIDENTIALITY.  Dozier agrees not to disclose nor cause to be disclosed, either directly or indirectly, the existence of this Agreement or the terms of this Agreement unless ordered or required to do so by law, a governmental entity or by court process or order and, if so required, Dozier shall give FHLBA prompt notice sufficient to permit FHLBA to seek a protective order or other appropriate relief before disclosure is made; provided, however, that Dozier may disclose such information to his immediate family living in his household and also to his attorney, to his financial advisor and to his professional tax advisor or tax return preparer for the limited purpose of obtaining advice regarding such tax return or returns as may be necessary.  If Dozier makes such limited disclosure to such persons as is specifically authorized herein, Dozier shall affirmatively instruct the individual(s) to whom disclosure is made to abide strictly by the conditions of confidentiality imposed hereunder.  FHLBA agrees to limit its disclosure of the existence and terms of this Agreement to those who have a legitimate need to know and such disclosure as may be required by law, including the Securities Exchange Act of 1934.  

9.NON-DISPARAGEMENT.  Dozier agrees not to make any oral or written statement that would portray FHLBA, its officers, directors, employees or services in a disparaging manner or negative or poor light, except as may be required in providing truthful testimony pursuant to a lawfully issued and served subpoena to testify at a legal proceeding.  

10.COOPERATION.  Following the Separation Date, upon the receipt of reasonable notice from FHLBA, Dozier agrees that Dozier will cooperate with FHLBA’s attorneys and representatives and provide truthful information with regard to matters within his knowledge concerning FHLBA’s business and operations which may be requested in connection with corporate disclosures and filings or other matters, including, without limitation, matters which may be the subject of a regulatory inquiry, regulatory filings, an investigation, or threatened or pending litigation.  Dozier will provide reasonable assistance to FHLBA and its attorneys or other representatives in defense or prosecution of any litigation, including providing truthful testimony in any jurisdiction in which FHLBA requests without need for subpoena or other compulsory process.  Upon presentation of appropriate documentation, FHLBA shall pay or reimburse Dozier for all reasonable out-of-pocket expenses incurred by Dozier in complying with this Section 10. 

11.TRADE SECRETS AND CONFIDENTIAL INFORMATION. Dozier covenants and agrees that he will hold in confidence all Trade Secrets of FHLBA that came into his knowledge during his employment by FHLBA and will not disclose, publish, or use such Trade Secrets on his own behalf or on behalf of another entity for as long as the information remains a Trade Secret. “Trade Secrets” means data or other information relating to the business of FHLBA protectable as a trade secret under applicable law, including, without limitation, and without regard to form: technical or non-technical data, a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing, a process, financial data, financial plans, product plans, or a list of actual or potential customers, vendors, or suppliers which is not commonly known by or available to the public and which information (1) derives economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use and (2) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy. For purposes of this Agreement, the term Trade Secret does not include any data or information that has been voluntarily disclosed to the public by FHLBA (except where such public disclosure has been made by me without authorization) or that has been independently 

developed and disclosed by others or that otherwise enters the public domain through lawful means. For the avoidance of doubt, Trade Secrets shall not include the concepts of “Banking with Heart” and “Leading with Heart” as those concepts have been developed by Dozier, and Dozier shall be permitted to use such concepts after the Separation Date. Dozier also covenants and agrees that he will hold in confidence all Confidential Information of FHLBA that came into his knowledge during his employment by FHLBA and will not disclose, publish, or use such Confidential Information on his own behalf or on behalf of another entity for as long as the information remains Confidential Information. “Confidential Information” means data or other information relating to the business of FHLBA that has been disclosed to Dozier or of which Dozier became aware as a consequence of or through his relationship with FHLBA and which has value to the Company, and is not generally known to the Company’s competitors or the public, including but not limited to methods of operation, names of customers, vendors, or suppliers, price lists, financial information and projections, marketing and strategic plans, and personnel data. Confidential Information does not include any data or information that has been voluntarily disclosed to the public by FHLBA or that otherwise enters the public domain through lawful means.  

12.NON-SOLICITATION.  Dozier agrees that during the Transition Period and for a period of twelve (12) months following the Separation Date, he will not, directly or indirectly, whether on his own behalf or as a principal or representative of any other person or entity, recruit or solicit, or attempt to recruit or solicit, any employee or independent contractor of FHLB to terminate his or her employment or other relationship with FHLB or to enter into employment or any other kind of business relationship with Dozier or another person or entity.  

13.PROTECTED RIGHTS.  The Parties acknowledge and agree that nothing in this Agreement is intended to prevent or impede Dozier from providing truthful information in connection with an investigation or proceeding authorized by law and conducted by a government agency, or from making disclosures to, or communicating with, a government agency regarding suspected or possible violations of law, without prior notice to FHLBA.

14.NO ADMISSION.  The Parties recognize and acknowledge that this Agreement does not constitute and shall not be construed as an admission of any acts of misconduct by either FHLBA or Dozier.  The Parties do not admit, and in fact specifically deny, any wrongdoing, liability, or culpability arising out of, related to, or connected with Dozier’s employment, or termination of employment, with FHLBA. 
 
15.ARBITRATION AND REMEDY FOR BREACH.  To the maximum extent allowed by applicable law, any dispute between the Parties arising regarding the interpretation, enforcement, or performance of this Agreement shall be resolved by an expedited, binding, confidential arbitration before a single arbitrator who shall have full authority to enforce this Agreement.  Dozier also agrees to resolve through final and binding arbitration any disputes Dozier may have with any other Released Party who elects to arbitrate those disputes under this subsection.  Arbitrations shall be conducted according to standards consistent with federal law and the rules set forth by a mutually agreed upon arbitration provider, or if none is agreed upon, by the American Arbitration Association (“AAA”) under the AAA’s Employment Rules. Any arbitration will be conducted in Atlanta, Georgia.  The Bank will be responsible for paying the cost of any filing fee and the fees and costs of the Arbitrator and the arbitration; provided, however, that if Dozier is the party initiating the claim, he is responsible for contributing an amount equal to the filing fee to initiate a claim in the court of general jurisdiction in the State of Georgia, City of Atlanta.  Each party will pay for its own costs and attorney's fees, if any.   The Parties acknowledge that all claims for damages and other relief available to the parties in a court of law will be available to be awarded by the arbitrator.  The prevailing party in any such arbitration shall be entitled to attorneys’ fees and expenses of the arbitration. The Parties waive any right to trial by jury or to go to court for a trial of any such disputes. Notwithstanding the foregoing 

acknowledgement to arbitrate disputes, this provision shall not apply to agency proceedings and actions by either Party for a temporary restraining order or other preliminary injunctive relief which may be pursued in a court of competent jurisdiction pending resolution of the underlying dispute in arbitration.  

16.NOTICE.  For purposes of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given on the date of delivery if delivered by hand or via email, addressed as follows:

If to FHLBA:
M. Bryan Delong
Senior Vice President and Chief Human Resources Officer
Federal Home Loan Bank of Atlanta.
1475 Peachtree Street NE
Atlanta, GA  30309
Email: bdelong@fhlbatl.com

With a Copy to:
Reginald T. O'Shields
Senior Vice President and General Counsel
Federal Home Loan Bank of Atlanta.
1475 Peachtree Street NE
Atlanta, GA  30309
Email: roshields@fhlbatl.com   

If to Dozier:
Robert Dozier
760 Burning Tree Dr. SE
Marietta, GA 30067
Email:  dozierrobert@comcast.net

17.GOVERNING LAW. This Agreement, and all questions relating to its validity, interpretation, performance and enforcement, as well as the legal relations hereby created between the parties hereto, shall be governed by and construed under, and interpreted and enforced in accordance with, the laws of the State of Georgia notwithstanding any conflict of law principle to the contrary.

18.RIGHT TO CONSULT WITH AN ATTORNEY, TIME TO CONSIDER.  Dozier acknowledges that FHLBA has advised Dozier to consult with an attorney before executing this Agreement and that Dozier has been represented by counsel in connection with the negotiation of this Agreement.  Dozier further acknowledges that Dozier has been given twenty-one (21) days from the time Dozier received this Agreement to consider whether to sign it.  Any material or non-material changes made in this Agreement after first presented to Dozier do not restart the running of the twenty-one (21) day period.  If this Agreement is signed before the end of the twenty-one (21) day period, Dozier agrees that it is because Dozier freely chose to do so after carefully considering the terms of this Agreement and after having had an opportunity to consult with an attorney of his choosing.  

19.NO WAIVER. No waiver of any term or condition contained in this Agreement shall be effective unless made or confirmed in writing by the person or entity alleged to have waived the right. Unless that writing expressly states otherwise, no such waiver shall be construed as a waiver of a subsequent breach or failure of the same term or condition or a waiver of any other term or condition contained in this Agreement.

20.ENTIRE AGREEMENT. This Agreement and the Exhibits hereto set forth the entire agreement between the Parties including, but not limited to, the separation of Dozier from employment as described herein, and fully supersede any and all prior agreements or understandings between them except for Dozier’s obligations as set forth in FHLBA’s Code of Conduct and Human Resources Policies, which obligations and provisions Dozier agrees survive termination of the employment relationship. It is agreed that this Agreement may be modified only by a subsequent, written agreement, executed by both Parties.

21.SEVERABILITY. Should any portion of this Agreement be declared or be determined to be illegal, invalid, or unenforceable, the validity of the remaining parts, terms, or provisions shall not be affected thereby and said illegal, invalid, or unenforceable part, term, or provision shall be deemed not to be a part of this Agreement.

22.SUCCESSORS AND ASSIGNS, BINDING AGREEMENT.  This Agreement shall inure to the benefit of and shall be binding upon the successors and assigns of the Parties, including the surviving or resulting entity in the event FHLBA transfers all or substantially all of its assets.  It is the intent of the Parties that any “Surviving Company” in a merger, asset sale or other business combination shall be treated as FHLBA and shall be entitled to invoke FHLBA’s rights hereunder and shall remain liable for all payments and performance due Dozier.  It is also acknowledged that this Agreement shall inure to the benefit of the heirs of Dozier in the event of his death.

23.NO PRESUMPTION AGAINST DRAFTER.  This Agreement has been negotiated, drafted, and reviewed through a cooperative effort of the Parties and neither FHLBA nor Dozier shall be considered the drafter of this Agreement so as to give rise to any presumption or convention regarding construction of this document.

24.EFFECTIVE DATE AND REVOCATION.  This Agreement will be enforceable and effective on the eighth (8th) day after Dozier signs it and returns it to FHLBA (the “Effective Date”).  The Parties agree that Dozier may revoke this Agreement any time during the first seven (7) days after Dozier signs it.  To make a valid revocation of this Agreement, Dozier must deliver a signed notice of revocation to FHLBA, either via personal delivery or via next day overnight delivery by a reliable carrier, to the attention of:  Bryan Delong, Chief Human Resource Officer, Federal Home Loan Bank of Atlanta, 1475 Peachtree St NE, Atlanta, GA 30309.  This notice of revocation must be received before the end of the seven (7) day revocation period.  Upon delivery of a timely notice of revocation, this Agreement will be null and void, and neither Dozier nor FHLBA will have rights or obligations under it.  The Agreement may not be revoked after the Effective Date.  If Dozier attempts to rescind, revoke or annul this Agreement after the Effective Date, or if he attempts at any time to make, assert or prosecute any claim covered by the release contained in Section 4 above, he agrees, prior to filing or instituting such claim, to return to FHLBA any and all payments already received by him under this Agreement and, if FHLBA prevails in defending the enforceability of any portion of the Agreement or in defending itself against any such claim brought by Dozier, he will pay FHLBA’s attorney’s fees and costs incurred in defending itself against the claims and/or the attempted revocation, rescission or annulment.  FHLBA agrees, however, that Dozier shall not be required to repay the monies paid to him under the terms of this Agreement in consideration of his waiver of claims under the ADEA or pay FHLBA all of its attorneys’ fees and costs incurred in its defense of Dozier’s action (except those attorneys’ fees or costs specifically authorized under federal or state law) in the event that Dozier seeks to challenge his waiver of claims under the ADEA.  

25.SECTION HEADINGS; INCONSISTENCY.  The section headings used in this Agreement are included solely for convenience and shall not affect, or be used in connection with, the interpretation of 

this Agreement.  In the event of any inconsistency between the terms of this Agreement and any form, award, plan or policy of FHLBA, the terms of this Agreement shall govern and control.

26.COUNTERPARTS.  This Agreement may be executed in counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

PLEASE READ CAREFULLY. THIS AGREEMENT INCLUDES A WAIVER AND RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

	
		
	ROBERT DOZIER
	FEDERAL HOME LOAN BANK OF ATLANTA

	 
	 

	/s/ Robert Dozier
	/s/ W. Wesley McMullan

	Robert Dozier
	W. Wesley McMullan

	 
	President and Chief Executive Officer

	9/12/2019
	 

	DATE
	9/12/2019

	 
	DATE

	 
	 

	 
	/s/ M. Bryan Delong

	 
	M. Bryan Delong

	 
	Senior Vice President and

	 
	Chief Human Resources Officer

	 
	 

	 
	9/12/2019

	 
	DATE

	 
	 

EXHIBIT A

SUPPLEMENTAL WAIVER AND RELEASE AGREEMENT

This Supplemental Waiver and Release Agreement (“Supplemental Release”) is entered into by and between Robert Dozier (“Dozier”) on the one hand, and the Federal Home Loan Bank of Atlanta (“FHLBA”), on the other hand, referred to collectively herein as the “Parties,” as a condition of Dozier’s receipt of certain special consideration from the FHLBA to which he is not otherwise entitled as more particularly described in the Confidential Agreement and Release to which this Supplemental Release was attached as Exhibit “A.” 
1.GENERAL AND COMPLETE WAIVER AND RELEASE.  Dozier waives, discharges and releases the FHLBA, their affiliates, subsidiaries, officers, directors, employees, agents, attorneys and successors and assigns (the “Releasees”) from any and all claims, demands, charges, complaints, liabilities, obligations, actions, causes of action, suits, costs, expenses, losses, attorneys’ fees, and damages of any nature whatsoever, known or unknown, for relief of any nature at law or in equity, which Dozier now has, owns or holds, or claims to have, own or hold, or which Dozier at any time heretofore had, owned or held, or claimed to have, own or hold against any of the Releasees and expressly waives and opts out of all claims, whether asserted on an individual or class action basis, against the Releasees, including, but in no way limited to:  any claim arising from or related to Dozier’s employment by the FHLBA or separation from employment with the FHLBA, any claim under Title VII of the Civil Rights Act of 1964, as amended; 42 U.S.C. § 1981; The Civil Rights Act of 1866; the Civil Rights Act of 1991; The Age Discrimination in Employment Act (“ADEA”), 29 U.S.C. § 621, et seq.; The Americans With Disabilities Act (“ADA”); the Rehabilitation Act of 1973; The Family and Medical Leave Act (“FMLA”); The Employee Retirement Income Security Act (“ERISA”); The Equal Pay Act (“EPA”); the Consolidated Omnibus Budget Reconciliation Act “COBRA”), and the Occupational Safety and Health Act (“OSHA”); OCGA § 34-1-3; The Georgia Minimum Wage Law, OCGA § 34-4-1 et seq.; OCGA § 34-5-1; The Georgia Equal Employment for Persons with Disabilities Code, OCGA § 34-6A-1 et seq.; OCGA § 34-7-2; OCGA § 45-19-28; all “whistleblower claims” or other claims involving the violation of public policy, retaliation, or interference with legal rights, but only to the extent allowed by law, and all claims alleging an adverse employment action motivated by employee activity protected by any local, state, or federal law; any and all other federal, state, and local employment or discrimination laws; any tort, or constitutional claims; and any alleged breach of contract claims (specifically including, but not limited to, any claim based on any contract of employment) or claims of promissory estoppel through the Effective Date of this Supplemental Release.  Dozier represents that Dozier has not assigned to any other person any of such claims and that Dozier has the full right to grant this release.  It is agreed that this is a general release and it is to be broadly construed as a release of all claims; provided that, notwithstanding the foregoing, this Section expressly does not include a release of any claims that cannot be released hereunder by law.

Dozier understands that Dozier is releasing claims that Dozier may not know about.  Dozier acknowledges that Dozier is doing so knowingly and voluntarily, even though Dozier recognizes that someday Dozier might learn that some or all of the facts Dozier currently believes to be true are untrue and even though Dozier might then regret having signed this release.  Dozier acknowledges that Dozier is assuming that risk and that Dozier agrees that this Supplemental Release shall remain effective in all respects in any such case.  Dozier expressly waives all rights Dozier might have under any law that is intended to protect Dozier from waiving unknown claims.  Dozier understands the significance of doing so.
2.COVENANT NOT TO SUE.  Dozier covenants not to file a lawsuit or otherwise pursue any of the claims released by this Supplemental Release.  Dozier’s Covenant Not To Sue includes, but is not limited to, claims arising under federal, state or local laws prohibiting employment discrimination, claims 

arising under severance plans and contracts, tort claims and claims growing out of any legal restrictions on the FHLBA’s rights to terminate its employees or to take any other employment action, whether statutory, contractual or arising under common law or case law.  Provided that, Dozier is not prohibited from filing an administrative charge of discrimination with the U.S. Equal Employment Opportunity Commission (“EEOC”) or other state or federal agency and nothing in this Supplemental Release shall limit or restrict Dozier’s ability to participate or cooperate in any inquiry or investigation by the EEOC or other state or federal agency.  With respect to such agency claims or charges, however, Dozier agrees that Dozier waives and is not entitled to any damages or monetary compensation from the FHLBA after the Effective Date of this Supplemental Release for any claim which is based on events alleged to have occurred before the Effective Date of this Supplemental Release.  

3.STIPULATIONS, ADVICE OF COUNSEL, CONSIDERATION, AND REVOCATION PERIOD.  By executing this Supplemental Release, Dozier stipulates, agrees, and warrants that: the terms of this Supplemental Release are reasonable and in exchange for consideration to which Dozier would not otherwise be entitled; that prior to executing this Supplemental Release, Dozier has been advised to, and had the opportunity to, consult with an attorney and has carefully read and understands all of the provisions of this Supplemental Release; and that that Dozier is legally competent and is voluntarily entering into this Supplemental Release.  Dozier specifically acknowledges and agrees that Dozier has knowingly and voluntarily released the FHLBA and all other Releasees from any and all claims arising under the Age Discrimination in Employment Act (“ADEA”), 29 U.S.C. § 621, et seq., which Dozier has or may have against any of the Releasees based upon facts occurring on or before the date on which Dozier signed this Supplemental Release.  Dozier further acknowledges that Dozier has been given at least twenty-one (21) days to consider this Supplemental Release prior to its execution.  Dozier also understands that Dozier may revoke this Supplemental Release at any time within seven (7) days following its execution.  Dozier acknowledges, however, that this Supplemental Release shall not become effective and that the Retention/Severance Payment described in Section 2 of the Confidential Agreement and Release shall not be paid to Dozier until after the expiration of the seven-day revocation period.

4.COUNTERPARTS.  This Supplemental Release may be executed in counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

PLEASE READ CAREFULLY.  THIS AGREEMENT INCLUDES A WAIVER AND RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

	
		
	EMPLOYEE
	FEDERAL HOME LOAN BANK OF ATLANTA

	 
	 

	______________
	______________________

	Robert Dozier
	W. Wesley McMullan

	 
	President and Chief Executive Officer

	_____________
	 

	DATE
	_______________

	 
	DATE

	 
	 

	 
	____________________

	 
	M. Bryan Delong

	 
	Senior Vice President and

	 
	Chief Human Resources Officer

	 
	 

	 
	_______________

	 
	DATEExhibit

Exhibit 4.1
EXECUTION COPY

	
	
	 

REVLON CONSUMER PRODUCTS CORPORATION, 
as Borrower
________________________

 
AMENDED AND RESTATED 2019 SENIOR UNSECURED LINE OF CREDIT AGREEMENT 

Dated as of November 7, 2019
_________________________
MACANDREWS & FORBES GROUP, LLC,

as Lender
	
	
	 

SC1:4681711.3
Doc#: US1:12898236v4

        

TABLE OF CONTENTS
Page
		
	SECTION 1. DEFINITIONS
	1

		
	1.1
	Defined Terms    1

		
	1.2
	Other Definition Provisions    3

		
	SECTION 2. AMOUNT AND TERMS OF COMMITMENT
	4

		
	2.1
	The Commitment    4

		
	2.2
	Procedure for Borrowing    4

		
	2.3
	Voluntary Termination or Reduction of the Commitment    4

		
	2.4
	Repayment of Loans; Evidence of Debt    5

		
	SECTION 3. PROVISIONS RELATING TO THE LOANS
	5

		
	3.1
	Optional Prepayments    5

		
	3.2
	Mandatory Prepayments    5

		
	3.3
	Interest Rate and Payment Dates    6

		
	3.4
	Method of Payments    6

		
	SECTION 4. REPRESENTATIONS AND WARRANTIES
	7

		
	4.1
	Corporate Existence    7

		
	4.2
	Corporate Power    7

		
	4.3
	No Legal Bar to Loans    7

		
	4.4
	Use of Proceeds    7

		
	SECTION 5. CONDITIONS PRECEDENT
	7

		
	5.1
	Conditions to Initial Loan    7

		
	5.2
	Conditions to Each Loan    8

		
	SECTION 6. FURTHER ASSURANCES
	8

		
	6.1
	Notices; Further Assurances    8

    

        

		
	SECTION 7. EVENTS OF DEFAULT
	9

		
	7.1
	Events of Default    9

		
	SECTION 8. MISCELLANEOUS
	10

		
	8.1
	Amendments and Waivers    10

		
	8.2
	Notices    11

		
	8.3
	No Waiver; Cumulative Remedies    11

		
	8.4
	Survival of Representations and Warranties    11

		
	8.5
	Payment of Expenses; General Indemnity    11

		
	8.6
	Successors and Assigns    12

		
	8.7
	Counterparts    12

		
	8.8
	Severability    12

		
	8.9
	Integration    13

		
	8.10
	GOVERNING LAW    13

		
	8.11
	Submission To Jurisdiction; Waivers    13

		
	8.12
	WAIVERS OF JURY TRIAL    13

    

2019 AMENDED AND RESTATED SENIOR UNSECURED LINE OF CREDIT AGREEMENT
2019 AMENDED AND RESTATED SENIOR UNSECURED LINE OF CREDIT AGREEMENT, dated as of November 7, 2019, between REVLON CONSUMER PRODUCTS CORPORATION, a Delaware corporation (the “Borrower”), and MACANDREWS & FORBES GROUP, LLC, a Delaware limited liability company (the “Lender”).
W I T N E S S E T H :
WHEREAS, the Borrower has requested the Lender to extend credit on an unsecured basis in order to enable the Borrower, subject to the terms and conditions of this Agreement, to borrow on a revolving basis from time to time prior to the Termination Date;
WHEREAS, the Lender is willing to make such loans to the Borrower only on the terms and subject to the conditions set forth herein;
NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, the parties hereto hereby agree as follows:
SECTION 1. DEFINITIONS
1.1    Defined Terms.  As used in this Agreement, the following terms shall have the following respective meanings (such definitions to be equally applicable to the singular and plural forms thereof):
“Affiliate” of any Person means any Person that directly or indirectly controls, or is under common control with, or is controlled by, such Person.  As used in this definition, “control” (including with its correlative meanings, “controlled by” and “under common control with”) shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person (whether through ownership of securities or partnership or other ownership interests, by contract or otherwise).
“Agreement” shall mean this Amended and Restated 2019 Senior Unsecured Line of Credit Agreement, as the same may be amended, supplemented or otherwise modified from time to time.
“Applicable Bank Account” is defined in Section 2.2(a) hereof.
“Bank Revolving Credit Agreement” means the Asset-Based Revolving Credit Agreement, dated as of September 7, 2016, as amended and restated as of April 17, 2018, by and among the Borrower, certain Local Borrowing Subsidiaries from time to time parties thereto, Revlon, Inc., certain financial institutions from time to time parties thereto, and Citibank, N.A., as Administrative Agent, as amended, supplemented and otherwise modified from time to time.

 “Bankruptcy Law” means Title 11 of the United States Code or any similar Federal or state law for the relief of debtors.
“Borrower” is defined in the introductory paragraph of this Agreement.
“Borrowing Amount”, “Borrowing Date” and “Borrowing Notice” are each defined in Section 2.2(a) hereof.
“Business Day” means a day other than a Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required by law to close.
“Commitment” means the obligation of the Lender to make Loans to the Borrower hereunder in an aggregate principal amount at any one time outstanding of up to $30,000,000, as such obligation may be reduced from time to time in accordance with Section 2.3 hereof.
“Commitment Period” means the period from and including the Effective Date to but not including the Termination Date.
“Contractual Obligation” means, with respect to any Person, any provision of any material debt security or of any material preferred stock or other equity interest issued by such Person or of any material indenture, mortgage, agreement, guarantee, instrument or undertaking to which such Person is a party or by which it or any of its material property is bound.
“Custodian” means any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law.
“Default” means any of the events specified in Section 7.1 hereof, whether or not any requirement for the giving of notice, the lapse of time, or both, or any other condition specifically set forth therein, has been satisfied.
“Dollars” and “$” mean dollars in lawful currency of the United States of America.
“Effective Date” is defined in Section 5.1 hereof.
“Event of Default” means any of the events specified in Section 7.1 hereof; provided, that any requirement for the giving of notice, the lapse of time, or both, or any other condition specifically set forth therein, has been satisfied.
“Foreign Asset-Based Term Loan Agreement” means the Asset-Based Term Loan Credit Agreement, dated as of July 9, 2018, among Revlon Holdings B.V. and Revlon Finance LLC, as borrowers, certain subsidiaries of the Borrower, as guarantors, certain financial institutions from time to time parties thereto, and Citibank, N.A., as 

administrative agent and collateral agent, as amended, supplemented and otherwise modified from time to time.
“Governmental Authority” means any nation or government, any state or other political subdivision thereof and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government (including, without limitation, any governmental department, commission, board, bureau, agency or instrumentality, or other court or arbitrator, in each case whether of the United States of America or foreign).
“Interest Payment Date” means, as to any Loan, December 31, 2019, March 31, 2020, June 30, 2020, September 30, 2020 and December 31, 2020.
“Lender” is defined in the introductory paragraph of this Agreement.
“Loans” is defined in Section 2.1(a) hereof.
“Person” means an individual, a partnership, a corporation, a business trust, a joint stock company, a limited liability company, a trust, an unincorporated association, a joint venture, a Governmental Authority or any other entity of any nature whatsoever.
“Requirement of Law” means, for any Person, the certificate of incorporation and by‐laws or other organizational or governing documents of such Person, and any law, treaty, rule or regulation, or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its material property or to which such Person or any of its material property is subject.
“Restricted Subsidiary” has the meaning set forth in the Bank Revolving Credit Agreement.
“Significant Subsidiary” means any Subsidiary other than an “Immaterial Subsidiary” (as defined in the Bank Revolving Credit Agreement).
“Subsidiary” of any Person means a corporation or other entity of which shares of capital stock or other ownership interests having ordinary voting power (other than stock or other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the directors of such corporation, or other Persons performing similar functions for such entity, are owned, directly or indirectly, by such Person; provided, that (a) unless otherwise qualified, all references to a “Subsidiary” or to “Subsidiaries” in this Agreement shall refer to a Subsidiary or Subsidiaries of the Borrower and (b) unless otherwise qualified, all references to a “wholly‐owned Subsidiary” in this Agreement shall refer to a Subsidiary or Subsidiaries of the Borrower of which the Borrower directly or indirectly owns all of the capital stock or other ownership interests (other than directors’ qualifying shares).

“Termination Date” means December 31, 2020 or, if earlier, the date upon which the Commitment shall terminate in accordance with the terms hereof.
“Term Loan Agreement” means the Term Loan Credit Agreement, dated as of September 7, 2016, by and among the Borrower, Revlon, Inc., certain financial institutions from time to time parties thereto, and Citibank, N.A., as Administrative Agent, as amended, supplemented and otherwise modified from time to time.
 “2019 Term Loan Agreement” means the 2019 Term Loan Agreement, dated as of August 6, 2019, by and among the Borrower, certain affiliated funds, investment vehicles or accounts managed or advised by Ares Management LLC, as lender, and Wilmington Trust, National Association, as administrative and collateral agent.
1.2    Other Definition Provisions.
(a)    All terms defined in this Agreement shall have such defined meanings when used in any certificate or other document made or delivered pursuant hereto or thereto unless otherwise defined therein.
(b)    The words “hereof”, “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement; and Section and subsection references contained in this Agreement are references to Sections and subsections in or to this Agreement, unless otherwise specified.
		
	SECTION 2. 
	AMOUNT AND TERMS OF COMMITMENT

2.1    The Commitment.
(a)    Subject to the terms and conditions hereof, the Lender agrees to make revolving loans (“Loans”) in Dollars to the Borrower from time to time during the Commitment Period with an aggregate principal amount outstanding at any one time not to exceed the amount of the Commitment then in effect.
(b)    During the Commitment Period, the Borrower may use the Commitment by borrowing, prepaying the Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof.
2.2    Procedure for Borrowing.
(a)    The Borrower may borrow under the Commitment during the Commitment Period on any Business Day; provided, that, unless the Lender otherwise agrees, the Borrower shall deliver to the Lender a written notice (or provide a telephonic notice promptly confirmed in writing) (a “Borrowing Notice”) which must (i) specify the date on which such borrowing is to be made (the “Borrowing Date”), the amount to be borrowed from the Lender on such Borrowing Date (the “Borrowing Amount”), and the bank account and other pertinent wire transfer instructions to which such borrowing is to be deposited by the Lender (the “Applicable Bank Account”), (ii) certify that all applicable conditions to such borrowing hereunder have been satisfied and (iii) be received by the Lender prior to 1:00 p.m., New York City time, at least one Business Day prior to such Borrowing Date or, in the case of a Loan to be made on the Effective Date, on or before the Borrowing Date.

(b)    On each Borrowing Date set forth in a Borrowing Notice, the Lender will make a Loan to the Borrower in an amount equal to the lesser of (i) the Borrowing Amount set forth in such Borrowing Notice, and (ii) the undrawn portion of the Commitment as then in effect by making the proceeds thereof available to the Borrower in immediately available funds in Dollars not later than 4:00 p.m., New York City time, on such Borrowing Date to the Applicable Bank Account.
2.3    Voluntary Termination or Reduction of the Commitment.  The Borrower shall have the right, in its sole discretion, to terminate the Commitment or, from time to time, to permanently reduce the Commitment during the Commitment Period by delivering to the Lender a written notice specifying such termination or the amount of such reduction. Any termination of or permanent reduction in the Commitment pursuant to this Section 2.3 shall take effect on the date specified in such written notice.
2.4    Repayment of Loans; Evidence of Debt.
(a)    The Borrower hereby unconditionally promises to pay to the Lender the then unpaid principal amount of each Loan on the Termination Date.  The Borrower hereby further agrees to pay to the Lender interest on the unpaid principal amount of each Loan from time to time outstanding from the date hereof until payment in full thereof at the rates per annum and in the manner set forth in Section 3.4 hereof.
(b)    The Lender shall maintain an account evidencing the indebtedness of the Borrower to the Lender resulting from the Loans, including the outstanding principal amount of each Loan, accrued and unpaid interest outstanding in respect thereof and the amount of any sum received by the Lender hereunder from the Borrower in respect of the Loans and the manner in which it was applied.  The entries made in such account of the Lender shall, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Borrower therein recorded; provided, however, that the failure of the Lender to maintain any such account, or any error therein, shall not in any manner affect the obligation of the Borrower to repay (with applicable interest) the Loans in accordance with the terms of this Agreement.  
		
	SECTION 3. 
	PROVISIONS RELATING TO THE LOANS

3.1    Optional Prepayments.  The Borrower may prepay the Loans, in whole or in part, at any time without premium or penalty, together with any interest accrued but unpaid on the amount prepaid.  Each such optional prepayment shall be applied, first, to the aggregate principal amount outstanding under the Loans, and, second, to any accrued and unpaid interest on the Loans.
3.2    Mandatory Prepayments.  
(a)    If, at any time, the aggregate outstanding principal amount of the Loans exceeds the Commitment then in effect, the Borrower shall immediately repay the principal amount of the Loans in an amount equal to such excess, together with any interest accrued but unpaid on the amount prepaid.
(b)    Upon the effective date of any reduction in the Commitment pursuant to Section 2.3 hereof, the Borrower shall prepay on such date the aggregate principal amount of the Loans then outstanding in excess of the Commitment 

after giving effect to such reduction, together with any interest accrued but unpaid on the amount prepaid.
(c)    If on any date for any reason the Borrower and its Subsidiaries have available unrestricted cash in excess of amounts required in the Borrower’s reasonable judgment to run the operations of the Borrower and its Subsidiaries in the ordinary course of business, Borrower shall prepay on such date the aggregate principal amount of the Loans then outstanding in an amount equal to such available borrowing capacity or excess cash, as applicable (except to the extent that using such excess cash to prepay Loans would result in material adverse tax consequences after taking into account all relevant factors), together with interest accrued but unpaid on such amount.
(d)    On the Termination Date, the Commitment shall terminate and the Borrower shall cause all outstanding Loans, together with any interest accrued but unpaid thereon, to be paid in full.
3.3    Interest Rate and Payment Dates.
(a)    Each Loan shall bear interest on the unpaid principal amount thereof at a rate per annum from time to time equal to 8.00%. 
(b)    If all or a portion of any Loan, any interest payable thereon or any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration, as a result of an event requiring a mandatory prepayment or otherwise), then, for so long as such amount remains unpaid, such overdue amount shall bear interest at a rate per annum equal to the rate otherwise in effect plus 2%.
(c)    Interest accrued from time to time in respect of each Loan shall be payable in cash in arrears on each Interest Payment Date; provided, that interest accruing pursuant to paragraph (b) of this Section 3.3 shall be payable from time to time on demand.  Any accrued and unpaid interest on the Loans shall be payable in full in cash on the Termination Date.
(d)    Interest shall be calculated on the basis of a 365 (or 366, as the case may be) day year for the actual days elapsed.
3.4    Method of Payments.
(a)    All payments (including prepayments) to be made by the Borrower on account of principal, interest, costs and expenses shall be made without set‐off, counterclaim, deduction or withholding and shall be made to the Lender at such location or to such account as the Lender may specify to the Borrower, on or prior to 1:00 p.m., New York City time, on the due date thereof, in Dollars and in immediately available funds.
(b)    If any payment hereunder becomes due and payable on a day other than a Business Day, such payment shall be extended to the next succeeding Business Day and interest thereon shall be payable at the then applicable rate during such extension.
SECTION 4.     REPRESENTATIONS AND WARRANTIES

In order to induce the Lender to enter into this Agreement and to make the Loans hereunder, the Borrower hereby represents and warrants to the Lender that:
4.1    Corporate Existence.  The Borrower is duly incorporated, validly existing and in good standing under the laws of the State of Delaware.
4.2    Corporate Power.
(a)    The Borrower has the corporate power, authority and legal right to execute, deliver and perform this Agreement and to borrow hereunder, and it has taken as of the Effective Date all necessary corporate action to authorize its borrowings on the terms and conditions of this Agreement and to authorize the execution, delivery and performance of this Agreement.
(b)    No consent of any other Person (including, without limitation, stockholders or creditors of the Borrower or of any parent entity of the Borrower), and no consent, license, permit, approval or authorization of, exemption by, or registration, filing or declaration with, any Governmental Authority is required in connection with the execution, delivery, performance, validity or enforceability of this Agreement by or against the Borrower, except for any consents, licenses, permits, approvals or authorizations, exemptions, registrations, filings or declarations that have already been obtained and remain in full force and effect.
(c)    This Agreement has been executed and delivered by a duly authorized officer of the Borrower and constitutes the legal, valid and binding obligation of the Borrower, enforceable against it in accordance with its terms except as enforceability may be limited by Bankruptcy Laws or other similar laws affecting creditors’ rights generally and except as enforceability may be limited by general principles of equity.
4.3    No Legal Bar to Loans.  The execution, delivery and performance of this Agreement, and the consummation of the transactions contemplated hereby, will not violate any Contractual Obligation or material Requirement of Law to which the Borrower or any of its Subsidiaries is a party, or by which the Borrower or any of its Subsidiaries or any of their respective material properties or assets may be bound, and will not result in the creation or imposition of any lien on any of their respective material properties or assets pursuant to the provisions of any such Contractual Obligation. 
4.4    Use of Proceeds.  The Borrower will use the proceeds of the Loans hereunder to provide working capital for the Borrower and its Subsidiaries and for other general corporate purposes.
		
	SECTION 5. 
	CONDITIONS PRECEDENT

5.1    Conditions to Initial Loan.  The obligation of the Lender to make the initial Loan requested to be made by it shall be subject to the satisfaction or waiver by the Lender of the following conditions precedent (the date on which said conditions are satisfied or waived being herein called the “Effective Date”):
(a)    Agreement.  The Lender shall have received this Agreement, executed and delivered by a duly authorized officer of the Borrower.

(b)    Additional Matters.  All corporate and other proceedings, and all documents, instruments and other legal matters in connection with the transactions contemplated by this Agreement shall be reasonably satisfactory in form and substance to the Lender, and the conditions set forth in Section 5.2 hereof shall have been satisfied or waived by the Lender.
5.2    Conditions to Each Loan.  The obligation of the Lender to make any Loan requested to be made on any Borrowing Date (including, without limitation, the initial Loan) shall be subject to the satisfaction or waiver by the Lender of the following conditions precedent:
(a)    Credit Availability.  The amount of the Loan requested to be made on such Borrowing Date shall not exceed the amount that the Lender is obligated to make in accordance with Section 2.1(a) hereof.
(b)    Representations and Warranties.  Each of the representations and warranties made by the Borrower in or pursuant to this Agreement (other than Section 4.4 hereof) shall be true and correct in all material respects on and as of such Borrowing Date as if made on and as of such date and the representations and warranties made by the Borrower in Section 4.4 hereof shall be true and correct on and as of such Borrowing Date as if made on and as of such date, in all cases both before and after giving effect to such Loan and the use of the proceeds thereof.
(c)    No Default.  No Default or Event of Default shall have occurred and be continuing on such Borrowing Date, both before and after giving effect to the Loan requested to be made on such date.
Each borrowing by the Borrower hereunder shall constitute a representation and warranty by the Borrower as of the Borrowing Date thereof that the conditions contained in this Section 5.2 have been satisfied.
SECTION 6.     FURTHER ASSURANCES
6.1    Notices; Further Assurances.  The Borrower shall notify the Lender in writing promptly following the occurrence of any Event of Default, as defined in any of the Bank Revolving Credit Agreement, the Foreign Asset-Based Term Loan Agreement, the Term Loan Agreement, the 2019 Term Loan Agreement and the indentures for the 2021 Notes and the 2024 Notes (each as defined in the Bank Revolving Credit Agreement).  Upon the request of the Lender, the Borrower will execute and deliver such further instruments, provide such further information and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Agreement.
SECTION 7.     EVENTS OF DEFAULT
7.1    Events of Default.  An “Event of Default” occurs if:
(a)    the Borrower defaults in any payment of interest on any Loan when the same becomes due and payable and such default continues for a period of 30 days;
(b)    the Borrower defaults in the payment of the principal of any Loan when the same becomes due and payable;

(c)    the Borrower fails to comply with any of the other material covenants or agreements applicable to it in this Agreement (other than those referred to in (a) or (b) above) and such failure continues for 60 days after receipt of written notice thereof from the Lender;
(d)    any representation or warranty made or deemed made by the Borrower in this Agreement shall prove to have been incorrect, false or misleading in any material respect on or as of the date when made or deemed to have been made;
(e)    an Event of Default, as defined in any of the Bank Revolving Credit Agreement, the Foreign Asset-Based Term Loan Agreement, the Term Loan Agreement, the 2019 Term Loan Agreement and the indentures for the 2021 Notes and the 2024 Notes (each as defined in the Bank Revolving Credit Agreement), occurs and is continuing;
(f)    the Borrower or any Restricted Subsidiary of the Borrower that is a Significant Subsidiary pursuant to or within the meaning of any Bankruptcy Law:
(i)    commences a voluntary case;
(ii)    consents to the entry of an order for relief against it in an involuntary case;
(iii)    consents to the appointment of a Custodian of it or for any substantial part of its property; or
(iv)    makes a general assignment for the benefit of its creditors; or takes any comparable action under any foreign Bankruptcy Laws;
(g)    a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:
(i)    is for relief against the Borrower or any Restricted Subsidiary of the Borrower that is a Significant Subsidiary in an involuntary case;
(ii)    appoints a Custodian of the Borrower or any Restricted Subsidiary of the Borrower that is a Significant Subsidiary for any substantial part of the Borrower’s property; or
(iii)    orders the winding up or liquidation of the Borrower or any Restricted Subsidiary of the Borrower that is a Significant Subsidiary;
or any similar relief is granted under any foreign Bankruptcy Laws and the order or decree remains unstayed and in effect for 60 consecutive days; or
(h)    any final judgment or final judgments for the payment of money in excess (net of amounts covered by third-party insurance with insurance carriers who in the reasonable judgment of the Borrower are creditworthy and who have not disclaimed liability with respect to such judgment or judgments) of $50 million or its foreign currency equivalent is entered against the Borrower or any Restricted Subsidiary of the Borrower that is a Significant Subsidiary and is not discharged and either (A) an enforcement proceeding has been commenced by any creditor upon such judgment or 

decree or (B) there is a period of 60 days following the entry of such judgment or decree during which such judgment or decree is not discharged, waived or the execution thereof stayed and, in the case of (B), such default continues for 60 consecutive days.
For the avoidance of doubt, after the commencement of an event specified in paragraph (f) or (g) of this Section 7.1 with respect to a Restricted Subsidiary that is not a Significant Subsidiary, if such Restricted Subsidiary subsequently becomes a Significant Subsidiary, the occurrence any events specified in paragraph (f) or (g) of this Section 7.1 with respect to such Restricted Subsidiary arising from or in connection with such previously commenced event shall not constitute an Event of Default pursuant to such paragraph (f) or (g).
If an Event of Default shall have occurred and is continuing, (A) if such event is an Event of Default specified in paragraph (f) or (g) of this Section 7.1 with respect to the Borrower, automatically the Commitment shall immediately terminate and the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement shall immediately become due and payable, and (B) if such event is any other Event of Default, either or both of the following actions may be taken:  (i) the Lender may by notice to the Borrower declare the Commitment to be terminated forthwith, whereupon such Commitment shall immediately terminate; and (ii) the Lender may by notice to the Borrower declare the Loans hereunder (with accrued interest thereon) and all other amounts owing by the Borrower under this Agreement to be due and payable forthwith, whereupon the same shall immediately become due and payable.  Except as expressly provided above in this Section 7.1, presentment, demand, protest and all other notices of any kind are hereby expressly waived.
SECTION 8.     MISCELLANEOUS
8.1    Amendments and Waivers.  This Agreement shall not be amended, supplemented or otherwise modified, except by written instrument which has been duly executed and delivered by each party hereto.  In the case of any waiver of the terms hereof, the parties to this Agreement shall be restored to their former positions and rights hereunder, and any Default or any Event of Default waived shall, to the extent provided in such waiver, be deemed to be cured and not continuing; but, no such waiver shall extend to any subsequent or other Default or Event of Default, or impair any right consequent thereon.
8.2    Notices.  All notices, consents, requests and demands to or upon the respective parties hereto to be effective shall be in writing and, unless otherwise expressly provided herein, shall be deemed to have been duly given or made when delivered by hand, or three Business Days after being deposited in the mail, certified mail, return receipt requested, postage prepaid, or, in the case of electronic mail notice, when sent and receipt has been confirmed, addressed as follows (or to such other address as may be hereafter notified by any of the respective parties hereto):

		
	Borrower:
	Revlon Consumer Products Corporation 
One New York Plaza 
New York, New York 10004 
Attention:  Michael Sheehan 

		
	Lender:
	MacAndrews & Forbes Group, LLC 
35 East 62nd Street 
New York, New York 10065 
Attention:  Shiri Ben-Yishai 

provided, that any notice, request or demand to or upon the Lender pursuant to Sections 2 and 3 shall not be effective until received.
8.3    No Waiver; Cumulative Remedies.  No failure to exercise and no delay in exercising, on the part of the Lender, any right, remedy, power or privilege hereunder, shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.  The rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.
8.4    Survival of Representations and Warranties.  All representations and warranties made hereunder and in any document, certificate or statement delivered pursuant hereto or in connection herewith shall survive the execution and delivery of this Agreement and the making of the Loans hereunder.
8.5    Payment of Expenses; General Indemnity.  The Borrower agrees (a) to pay or reimburse the Lender for all of its reasonable out‐of‐pocket attorneys’ fees and expenses incurred in connection with the preparation, execution and delivery of, and any amendment, supplement or modification to, this Agreement and any other documents prepared in connection herewith, and the consummation of the transactions contemplated hereby and thereby, (b) to pay or reimburse the Lender for all its reasonable out‐of‐pocket costs and expenses (including, without limitation, reasonable attorneys’ fees and expenses) incurred in connection with the enforcement or preservation of any rights under this Agreement and any such other documents, (c) to pay, indemnify, and to hold the Lender harmless from, any and all recording and filing fees and any and all liabilities with respect to, or resulting from any delay caused by the Borrower in paying, stamp, excise and other similar taxes, if any, if legal, which may be payable or determined to be payable in connection with the execution and delivery of, or consummation of any of the transactions contemplated by, or any amendment, supplement or modification of, or any waiver or consent under or in respect of, this Agreement and any such other documents, and (d) to pay, indemnify, and hold harmless the Lender from and against any and all other liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever (including, without limitation, reasonable attorneys’ fees and expenses) with respect to the execution, delivery, consummation, enforcement, performance and administration of this Agreement and any such other documents (all of the foregoing, collectively, the “indemnified liabilities”); provided, that the Borrower shall have no obligation hereunder with respect to indemnified liabilities arising from (i) the gross negligence or willful misconduct of the Lender, (ii) legal proceedings 

commenced against the Lender by any security holder or creditor thereof arising out of and based upon rights afforded any such security holder or creditor solely in its capacity as such or (iii) amounts of the types referred to in clauses (a) through (c) above except as provided therein.  The agreements in this Section 8.5 shall survive the termination of the Commitment and the repayment of the Loans and all other amounts payable hereunder.
8.6    Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of the Borrower, the Lender and their respective successors and permitted assigns and, except as set forth below, neither the Borrower nor the Lender may assign or transfer any of its rights or obligations under this Agreement without the prior written consent of the other party.  This Agreement, or the Lender’s obligations hereunder, may be assigned, delegated or transferred, in whole or in part, by the Lender to any Affiliate of the Lender over which the Lender or any of its Affiliates exercises investment authority, including, without limitation, with respect to voting and dispositive rights; provided any such assignee assumes the obligations of the Lender hereunder and agrees in writing to be bound by the terms of this Agreement in the same manner as the Lender.  Notwithstanding the foregoing, no such assignment shall relieve the Lender of its obligations hereunder if such assignee fails to perform such obligations.  Without complying with the provisions of this Section 8.6, the Lender may satisfy its obligations under Sections 2.1 or 2.2 hereof by causing an Affiliate of the Lender to satisfy its obligations under such Sections.
8.7    Counterparts.  This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts (including by electronic transmission), and all of said counterparts taken together shall be deemed to constitute one and the same instrument.
8.8    Severability.  Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.
8.9    Integration.  This Agreement represents the agreement of the Borrower and the Lender with respect to the subject matter hereof, and there are no promises, undertakings, representations or warranties by the Lender for the benefit of the Borrower relative to the subject matter hereof not expressly set forth or referred to herein.
8.10    GOVERNING LAW.  THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
8.11    Submission To Jurisdiction; Waivers.  The Borrower hereby irrevocably and unconditionally:
(a)    submits for itself and its property in any legal action or proceeding relating to this Agreement, or for recognition and enforcement of any judgment in respect thereof, to the non‐exclusive general jurisdiction of the Courts of the State of New York, the courts of the United States of America for the Southern District of New York, and appellate courts from any thereof;

(b)    consents that any such action or proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same;
(c)    agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to the Borrower at its address set forth in Section 8.2 or at such other address of which the Lender shall have been notified pursuant thereto;
(d)    agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or shall limit the right to sue in any other jurisdiction; and
(e)    waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding referred to in this subsection any special, exemplary, punitive or consequential damages.
8.12    WAIVERS OF JURY TRIAL
.  THE BORROWER AND THE LENDER HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT AND FOR ANY COUNTERCLAIM THEREIN.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers as of the day and year first above written.

REVLON CONSUMER PRODUCTS CORPORATION

		
	By:  
	/s/ Michael T. Sheehan     
Michael T. Sheehan      
Senior Vice President, Deputy General Counsel & Secretary    

MACANDREWS & FORBES GROUP, LLC

		
	By:  
	/s/ Shiri Ben-Yishai         
Shiri Ben-Yishai 
Secretary

[Amended and Restated 2019 Senior Unsecured Line of Credit Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00301-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00301-of-00352.parquet"}]]