SEC Contract Filing

Filing Date: 2017-03-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.16
<SEQUENCE>2
<FILENAME>v461072_ex10-16.htm
<DESCRIPTION>EXHIBIT 10.16
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<P STYLE="margin: 0; text-align: left"><B>Exhibit 10.16</B></P>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">EXECUTION COPY</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: normal">THIRD
AMENDMENT TO<BR>
SECOND AMENDED AND RESTATED LOAN AGREEMENT</FONT></P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Third Amendment
to Second Amended and Restated Loan Agreement (the &ldquo;<U>Amendment</U>&rdquo;) is made and entered into as of March 3, 2017
by and among Black Diamond, Inc., a Delaware corporation, Black Diamond Equipment, Ltd., a Delaware corporation, Black Diamond
Retail, Inc., a Delaware corporation, Everest/Sapphire Acquisition, LLC, a Delaware limited liability company, BD North American
Holdings, LLC, a Delaware limited liability company, PIEPS Service, LLC, a Delaware limited liability company, and BD European
Holdings, LLC, a Delaware limited liability company (collectively, &ldquo;<U>Borrowers</U>&rdquo;), and ZB, N.A. dba Zions First
National Bank (&ldquo;<U>Lender</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="text-transform: none"><U>Recitals</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lender
has previously extended a loan to Borrowers consisting of a revolving loan in the maximum principal amount of $30,000,000 (the
&ldquo;<U>Loan</U>&rdquo;), which is governed by that certain Second Amended and Restated Loan Agreement dated as of October 31,
2014 among Borrowers, the other Loan Parties from time to time party thereto and Lender, as amended by that certain (i) First Amendment
to Second Amended and Restated Credit Agreement dated November 9, 2015 and (ii) Second Amendment to Second Amended and Restated
Credit Agreement dated March 11, 2016, in each case, among Borrowers and Lender (as so amended and as the same may be further amended
from time to time, the &ldquo;<U>Loan Agreement</U>&rdquo;). The Loan is evidenced by that certain Second Amended and Restated
Promissory Note (Revolving Loan) dated October 31, 2014 executed by Borrowers in favor of Lender in the maximum principal amount
of $30,000,000 (the &ldquo;<U>Note</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrowers
and Lender desire to modify and amend the Loan Agreement as provided herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="text-transform: none"><U>Amendment</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Lender and Borrowers hereby agree and amend and modify
the Loan Agreement as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Recitals</U>.
Each of Borrowers and Lender hereby acknowledges the accuracy of the Recitals, which are incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Definitions.</U>
Except as otherwise provided herein, terms defined in the Loan Agreement shall have the same meaning when used herein. Terms defined
in the singular shall have the same meaning when used in the plural and vice versa.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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