<SEC-DOCUMENT>0001529628-18-000087.txt : 20180718
<SEC-HEADER>0001529628-18-000087.hdr.sgml : 20180718
<ACCEPTANCE-DATETIME>20180718160702
ACCESSION NUMBER:		0001529628-18-000087
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180713
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180718
DATE AS OF CHANGE:		20180718

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Smart Sand, Inc.
		CENTRAL INDEX KEY:			0001529628
		STANDARD INDUSTRIAL CLASSIFICATION:	MINING, QUARRYING OF NONMETALLIC MINERALS (NO FUELS) [1400]
		IRS NUMBER:				452809926
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37936
		FILM NUMBER:		18958508

	BUSINESS ADDRESS:	
		STREET 1:		24 WATERWAY AVENUE, SUITE 350
		CITY:			THE WOODLANDS
		STATE:			TX
		ZIP:			77380
		BUSINESS PHONE:		(281) 231-2660

	MAIL ADDRESS:	
		STREET 1:		24 WATERWAY AVENUE, SUITE 350
		CITY:			THE WOODLANDS
		STATE:			TX
		ZIP:			77380
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a20188kcreditfacilityamend.htm
<DESCRIPTION>8-K
<TEXT>
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<div><a name="s7D554D9794FF53EFB94AECB49A2B5474"></a></div><div style="line-height:120%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">UNITED STATES <br>SECURITIES AND EXCHANGE COMMISSION</font><font style="font-family:inherit;font-size:14pt;">&#32;</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Washington, DC 20549</font><font style="font-family:inherit;font-size:12pt;">&#32;</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">_______________________________</font></div><div style="line-height:120%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">FORM 8-K</font><font style="font-family:inherit;font-size:14pt;">&#32;</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">CURRENT REPORT</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Pursuant to Section&#160;13 or 15(d) of the </font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Securities Exchange Act of 1934</font><font style="font-family:inherit;font-size:12pt;">&#32;</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">_________________________________</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Date of Report (Date of earliest event reported): July 13, 2018</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:16pt;"><font style="font-family:inherit;font-size:16pt;font-weight:bold;">SMART SAND, INC.</font><font style="font-family:inherit;font-size:16pt;">&#32;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(Exact Name of Registrant as Specified in Its Charter) </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:95.08547008547008%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:32%;"></td><td style="width:3%;"></td><td style="width:31%;"></td><td style="width:3%;"></td><td style="width:31%;"></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Delaware</font><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">001-37936</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">45-2809926</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(State or Other Jurisdiction of Incorporation)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(Commission </font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">File Number) </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(IRS Employer Identification No.)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">1725 Hughes Landing Blvd., Suite 800</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#32;The Woodlands, Texas 77380</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(Address of principal executive offices and zip code)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(281) 231-2660</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(Registrant&#8217;s telephone number, including area code) </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Not Applicable</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(Former name or former address, if changed since last report)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">[ ]</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">[ ]</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">[ ]</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">[ ]</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div></td></tr></table><div style="line-height:120%;text-align:left;padding-left:24px;text-indent:-24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter). </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Emerging growth company&#160;</font><font style="font-family:Wingdings;font-size:10pt;">x</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&#160;13(a) of the Exchange Act.&#160;&#160;&#160;&#160;</font><font style="font-family:Wingdings;font-size:10pt;">x</font></div><div><br></div><hr style="page-break-after:always"><div><a name="s993de63666834c569e076ddd9ac88c73"></a></div><div><br></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Item&#160;1.01.&#160;Entry into a Material Definitive Agreement.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">On July 13, 2018, Smart Sand, Inc. (the "Company") entered into the Second Amendment to Credit Agreement and First Amendment to Guarantee and Collateral Agreement, by and among the Company, the subsidiary guarantors party thereto, Jefferies Finance, LLC, as administrative agent (in such capacity, the "Administrative Agent") and collateral agent (in such capacity, the "Collateral Agent"), and the lenders party thereto (the "Amendment").&#160; The Amendment amends each of (i) the Credit Agreement, dated as of December 8, 2016 and amended as of April 6, 2018, by and among the Company, the Administrative Agent and the lenders party thereto (the "Credit Agreement") and (ii) the Guarantee and Collateral Agreement, dated as of December 8, 2016, by and among the Company, the subsidiary guarantors party thereto and the Collateral Agent.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Among other things, the Amendment (i) increased the limit on the Company's ability to sell, transfer or dispose of assets, subject to certain conditions, from an aggregate amount of $25 million to $55 million, (ii) increased the limit on the Company's ability to incur capital lease obligations from an aggregate principal amount of $15 million to $30 million and (iii) excluded certain current and future earn-out obligations from the definition of "Indebtedness" in the Credit Agreement.&#160; </font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The foregoing description is not complete and is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><a name="s5370511838a34a3f9a51551f312a9e3c"></a></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Item&#160;2.03. Creation of a Direct Financial Obligation under an Off-Balance Sheet Arrangement of a Registrant.</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The description of the Amendment contained in Item 1.01 in this Current Report on Form 8-K is incorporated by reference into this Item 2.03.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><a name="s3f60677892854723a741fbe22ea07da7"></a></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Item&#160;9.01. Financial Statements and Exhibits.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.93162393162393%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:20%;"></td><td style="width:80%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Exhibit No.</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Description</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">10.1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="second_amendmentxtoxcredit.htm"><font style="font-family:inherit;font-size:11pt;">Second Amendment to Credit Agreement and First Amendment to Guarantee and Collateral Agreement, dated as of July 13, 2018, among Smart Sand, Inc., as borrower, the subsidiaries of Smart Sand, Inc. party thereto, as guarantors, the lenders party thereto, and Jefferies Finance LLC, as administrative agent and collateral agent</font></a></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><hr style="page-break-after:always"><div><a name="s2A42FE588BAE57DEAFAB40A0293A7CC8"></a></div><div><br></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SIGNATURES</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Date: July 18, 2018</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SMART SAND, INC.</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Lee E. Beckelman</font><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Lee E. Beckelman</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Chief Financial Officer</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div>	</body>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>second_amendmentxtoxcredit.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="s535B6E81D11904DB6374A3C351E828F4"></a></div><div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EXECUTION VERSION</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">SECOND AMENDMENT TO CREDIT AGREEMENT AND FIRST AMENDMENT TO GUARANTEE AND COLLATERAL AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">This SECOND AMENDMENT TO CREDIT AGREEMENT AND FIRST AMENDMENT TO GUARANTEE AND COLLATERAL AGREEMENT, dated as of July 13, 2018 (this &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Amendment</font><font style="font-family:inherit;font-size:11pt;">&#8221;), by and among, SMART SAND, INC., a Delaware corporation (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Borrower</font><font style="font-family:inherit;font-size:11pt;">&#8221;), the Subsidiary Guarantors party hereto (together with the Borrower, the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Loan Parties</font><font style="font-family:inherit;font-size:11pt;">&#8221;), JEFFERIES FINANCE LLC, as administrative agent (in such capacity, including any successor thereto, the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Administrative Agent</font><font style="font-family:inherit;font-size:11pt;">&#8221;) and collateral agent (in such capacity, including any successor thereto, the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Collateral Agent</font><font style="font-family:inherit;font-size:11pt;">&#8221;) for the Secured Parties, and the Lenders (as defined below) party hereto.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, reference is hereby made to (i) the Credit Agreement, dated as of December 8, 2016 (as amended by that certain First Amendment to Credit Agreement and Incremental Assumption Agreement, dated as of April 6, 2018, and as further amended, restated, supplemented and/or otherwise modified from time to time prior to the date hereof, the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Credit Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;), by and among, </font><font style="font-family:inherit;font-size:11pt;font-style:italic;">inter alios</font><font style="font-family:inherit;font-size:11pt;">, the Borrower, the Administrative Agent and the lenders party thereto from time to time (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Lenders</font><font style="font-family:inherit;font-size:11pt;">&#8221;) and (ii) the Guarantee and Collateral Agreement, dated as of December 8, 2016 (as amended, restated, supplemented and/or otherwise modified from time to time prior to the date hereof, the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Guarantee and Collateral Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;), by and among, the Loan Parties and the Collateral Agent; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the Borrower has requested that the Lenders agree to amend, and the Lenders have agreed to amend, the Credit Agreement and the Guarantee and Collateral Agreement as provided in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2</font><font style="font-family:inherit;font-size:11pt;">&#32;hereof, in each case, upon the terms and subject to the conditions set forth herein and effective as of the Second Amendment Effective Date (as hereinafter defined).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">NOW, THEREFORE, in consideration of the premises and agreements, provisions and covenants herein contained, the parties hereto agree as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:11pt;font-weight:bold;padding-right:96px;">Section 1</font><font style="font-family:inherit;font-size:11pt;font-style:italic;">.  Defined Terms; References.  </font><font style="font-family:inherit;font-size:11pt;">Unless otherwise specifically defined herein, each term used herein which is defined in the Credit Agreement has the meaning assigned to such term in the Credit Agreement.  Each reference to &#8220;hereof&#8221;, &#8220;hereunder&#8221;, &#8220;herein&#8221; and &#8220;hereby&#8221; and each other similar reference and each reference to &#8220;this Agreement&#8221; and each other similar reference contained in the Credit Agreement and the Guarantee and Collateral Agreement shall, as of and after the Second Amendment Effective Date (as defined below), refer, respectively, to the Credit Agreement, as amended by this Amendment (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Amended Credit Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;) or the Guarantee and Collateral Agreement, as amended by this Amendment, as applicable (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Amended Guarantee and Collateral Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221; and, together with the Amended Credit Agreement, the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Amended Loan Documents</font><font style="font-family:inherit;font-size:11pt;">&#8221;).  </font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:150px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SECTION 2</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">. Amendment to Credit Agreement.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:62px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Effective as of the Second Amendment Effective Date,</font><font style="font-family:inherit;font-size:11pt;font-style:italic;">&#32;</font><font style="font-family:inherit;font-size:11pt;">the parties hereto agree that the Credit Agreement is hereby amended as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Section 1.01 of the Credit Agreement is hereby amended by adding the following new definitions in proper alphabetical order therein:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:40%;"></td><td style="width:20%;"></td><td style="width:40%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:4pt;"><font style="font-family:inherit;font-size:4pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Other Secured Obligations</font><font style="font-family:inherit;font-size:11pt;">&#8221;&#160;&#160;&#160;&#160;shall mean, collectively, the Secured Bank Products Obligations and the Secured Hedging Obligations.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#32;&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Royalty Obligations</font><font style="font-family:inherit;font-size:11pt;">&#8221; means obligations in respect of royalty or similar payments, whether or not incurred as deferred purchase price for assets or otherwise denominated as indebtedness. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Secured</font><font style="font-family:inherit;font-size:11pt;">&#32;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Bank Product Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221; shall mean any (x) cash management arrangements, (y) commercial credit card, purchase card or merchant card services or (z) other banking products or services as may be requested by ant Loan Party (collectively, &#8220;Bank Products&#8221;) with a Loan Party that (i) is in effect on the Second Amendment Effective Date with a counterparty that is the Administrative Agent or a Lender or an Affiliate of the Administrative Agent or a Lender as of the Second Amendment Effective Date or (ii) is entered into after the Second Amendment Effective Date with any counterparty that is the Administrative Agent or a Lender or an Affiliate of the Administrative Agent or a Lender at the time such Bank Product is entered into.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Secured</font><font style="font-family:inherit;font-size:11pt;">&#32;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Bank Products Obligations</font><font style="font-family:inherit;font-size:11pt;">&#8221; shall mean all obligations, liabilities and indebtedness, 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) under or with respect to any Secured Bank Product Agreement; </font><font style="font-family:inherit;font-size:11pt;font-style:italic;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that (i) the provider of such Bank Products (if not the Administrative Agent) and Borrower have provided notice to Administrative Agent setting forth the maximum amount of Bank Products to be secured by the Collateral (and the methodology to be used in calculating such amount) and (ii) the aggregate amount of Secured Bank Products Obligations shall not exceed $10,000,000.&#8221;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">The definition of &#8220;Current Liabilities&#8221; appearing in Section 1.01 of the Credit Agreement is hereby deleted and replaced with the following in lieu thereof:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Current Liabilities</font><font style="font-family:inherit;font-size:11pt;">&#8221; shall mean, at any time, the consolidated current liabilities of the Borrower and the Subsidiaries at such time, but excluding, without duplication, (a)&#160;the current portion of any long-term Indebtedness, (b) outstanding Revolving Loans and Swingline Loans and other revolving Indebtedness, (c) unearned or deferred revenue, and (d) Royalty Obligations.&#8221;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">The last sentence of the definition of &#8220;Indebtedness&#8221; appearing in Section 1.01 of the Credit Agreement is hereby deleted and replaced with the following in lieu thereof:</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;Notwithstanding the foregoing, the term &#8220;Indebtedness&#8221; shall not include, for any Person, (i)&#160;in connection with any Specified Transaction or any permitted disposition, contingent post-closing purchase price adjustments, indemnification payments, earn-outs or other contingent payments until such purchase price adjustments, indemnification payments, earn-outs or other contingent payments become liabilities on the balance sheet of such Person in accordance with GAAP, (ii)&#160;obligations of such Person in respect of operating leases, or (iii) Royalty Obligations.&#8221;</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:40%;"></td><td style="width:20%;"></td><td style="width:40%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:4pt;"><font style="font-family:inherit;font-size:4pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iv)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Section 6.01 of the Credit Agreement is hereby amended by deleting clause (d) thereof in its entirety and by substituting the following in lieu thereof:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;(d)&#160;&#160;&#160;&#160;Indebtedness of the Borrower or any Subsidiary incurred to finance the acquisition, construction, improvement or repair of any fixed or capital assets, and any Permitted Refinancing Indebtedness in respect thereof; </font><font style="font-family:inherit;font-size:11pt;font-style:italic;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;font-style:italic;">&#32;</font><font style="font-family:inherit;font-size:11pt;">that (i) such Indebtedness is initially incurred prior to or within 120 days after such acquisition or the completion of such construction, improvement or repair and (ii) the outstanding aggregate principal amount of Indebtedness permitted by this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 6.01(d)</font><font style="font-family:inherit;font-size:11pt;">, when combined with the aggregate principal amount of all Capital Lease Obligations incurred pursuant to </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 6.01(e)</font><font style="font-family:inherit;font-size:11pt;">, shall not exceed $30,000,000 at any time;&#8221; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(v)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Section 6.01 of the Credit Agreement is hereby amended by deleting clause (e) thereof in its entirety and by substituting the following in lieu thereof:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;(e)&#160;&#160;&#160;&#160;Capital Lease Obligations in an outstanding aggregate principal amount, when combined with the aggregate principal amount of all Indebtedness incurred pursuant to </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 6.01(d)</font><font style="font-family:inherit;font-size:11pt;">, not in excess of $30,000,000 at any time;&#8221; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(vi)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Section 6.05(b)(iv)(B) of the Credit Agreement is hereby amended by deleting the reference to &#8220;$25,000,000&#8221; in such clause in its entirety and by substituting &#8220;$55,000,000&#8221; in lieu thereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(vii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Section 7.02 of the Credit Agreement is hereby amended by deleting the text &#8220;any Secured Hedging Agreement&#8221; and the text &#8220;the Secured Hedging Agreements&#8221; in each instance where any such text appears in the fifth and sixth paragraph of such Section and inserting the following new text in lieu thereof &#8220;any Secured Hedging Agreement and any Secured Bank Product Agreement&#8221;. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(viii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">The first paragraph of Article V of the Credit Agreement, the first paragraph of Article VI of the Credit Agreement and Section 9.08(d) of the Credit Agreement are each hereby amended by deleting the text &#8220;Secured Hedging Obligations&#8221; in each instance where such text appears in each such paragraph and section and inserting the following new text in lieu thereof &#8220;Other Secured Obligations&#8221;. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:62px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Effective as of the Second Amendment Effective Date,</font><font style="font-family:inherit;font-size:11pt;font-style:italic;">&#32;</font><font style="font-family:inherit;font-size:11pt;">the parties hereto agree that the Guarantee and Collateral Agreement is hereby amended as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Section 1.02 of the Guarantee and Collateral Agreement is hereby amended by deleting in its entirety the definition of &#8220;Secured Obligations&#8221; appearing therein and inserting the following new definition in lieu thereof:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Secured Obligations</font><font style="font-family:inherit;font-size:11pt;">&#8221; means, collectively, the Obligations and the Other Secured Obligations.&#8221;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Section 1.02 of the Guarantee and Collateral Agreement is hereby amended by deleting in its entirety the definition of &#8220;Secured Parties&#8221; appearing therein and inserting the following new definition in lieu thereof: </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:40%;"></td><td style="width:20%;"></td><td style="width:40%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:4pt;"><font style="font-family:inherit;font-size:4pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Secured Parties</font><font style="font-family:inherit;font-size:11pt;">&#8221; 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Without limiting the generality of the foregoing, the Security Documents and all of the Collateral described therein shall continue to secure the payment of all Obligations of the Borrower, as amended by this Amendment.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:62px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents.  On and after the Second Amendment Effective Date, this Amendment shall for all purposes constitute a Loan Document.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:6px;text-indent:42px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SECTION 3</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">.  </font><font style="font-family:inherit;font-size:11pt;font-style:italic;">Severability</font><font style="font-family:inherit;font-size:11pt;">.  In the event any one or more of the provisions contained in this Amendment should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby (it being understood that the invalidity of a particular provision in a particular jurisdiction shall not in and of itself affect the validity of such provision in any other jurisdiction).  The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:6px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SECTION 4</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">.  </font><font style="font-family:inherit;font-size:11pt;font-style:italic;">Headings</font><font style="font-family:inherit;font-size:11pt;">.  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Any other previous agreement among the parties with respect to the subject matter hereof is superseded by this Amendment and the other Loan Documents.  Nothing in this Amendment or in the other Loan Documents, expressed or implied, is intended to confer upon any Person (other than the parties hereto and thereto, their respective successors and assigns permitted hereunder (including any Affiliate of any Issuing Bank that issues any Letter of Credit) and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the Collateral Agent, the Issuing Banks and the Lenders) any rights, remedies, obligations or liabilities under or by reason of this Amendment or the other Loan Documents.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:6px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SECTION 6</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;">.  Ratification and Reaffirmation.</font><font style="font-family:inherit;font-size:11pt;">&#32;&#32;Each Loan Party party hereto hereby ratifies and reaffirms (a) its Obligations under the Amended Loan Documents and each of the other Loan Documents to which it is a party and all of the covenants, duties, guarantees, indemnities, indebtedness and liabilities under the Amended Loan Documents and the other Loan Documents to which it is a party and (b) the Liens and security interests created in favor of the Collateral Agent and the Secured Parties pursuant to each Security Agreement, which Liens and security interests shall continue in full force and effect during the term of the Amended Loan Documents, and shall continue to secure the Obligations (as defined in the Amended Loan Documents). Each Loan Party party hereto confirms that the secured liabilities (however </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:40%;"></td><td style="width:20%;"></td><td style="width:40%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:4pt;"><font style="font-family:inherit;font-size:4pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:6px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">described in the Security Documents) cover the Obligations, in each case, on and subject to the terms and conditions set forth in the Amended Loan Documents and the other Loan Documents.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:6px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SECTION 7</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;">.  Representations and Warranties.  </font><font style="font-family:inherit;font-size:11pt;">The Loan Parties hereby represent and warrant to the Administrative Agent and the Lenders that:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:62px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Each Loan Party party hereto has the power and authority to execute, deliver and perform its obligations under this Amendment. The execution, delivery and performance of this Amendment have been duly authorized by all requisite corporate, partnership, limited liability company, and, if required, stockholder, partner or member action, as applicable, of each Loan Party party hereto.  This Amendment has been duly executed and delivered by each Loan Party party hereto and constitutes the legal, valid and binding obligation of such Loan Party, enforceable against such Loan Party in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors&#8217; rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:62px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">The execution, delivery and performance of this Amendment by each Loan Party do not require any consent or approval of, registration or filing with, certificate, certification, permit, license or authorization from, or any other action by any Governmental Authority, in each case, except for such as have been made or obtained and are in full force and effect.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:62px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">The execution, delivery and performance of this Amendment by each Loan Party party hereto and the consummation of the transactions contemplated hereby will not (i) violate (A)&#160;any provision of law, statute, rule or regulation, (B) any order of or undertaking with any Governmental Authority or (C) any provision of any indenture, agreement or other instrument to which such Loan Party is a party or by which any of them or any of their property is bound, except such violation as could not reasonably be expected to have a Material Adverse Effect, (ii) result in the creation or imposition of (or the obligation to create or impose) any Lien upon or with respect to any property or assets now owned or hereafter acquired by such Loan Party or (iii) violate any provision of the certificate or articles of incorporation or certificate of formation or other constitutive documents or by-laws, partnership agreement or limited liability company agreement of such Loan Party.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:62px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">The representations and warranties set forth in Article III of the Amended Credit Agreement and in each other Loan Document are true and correct in all material respects on and as of the Second Amendment Effective Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, in which case they were true and correct in all material respects as of such earlier date; </font><font style="font-family:inherit;font-size:11pt;font-style:italic;">provided</font><font style="font-family:inherit;font-size:11pt;">, that any representation and warranty that is qualified as to &#8220;materiality,&#8221; &#8220;Material Adverse Effect&#8221; or similar language is true and correct (after giving effect to any qualification contained therein) in all respects.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:62px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">On and immediately after the Second Amendment Effective Date, no Default or Event of Default has occurred and is continuing.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SECTION 8</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;">.  Governing Law; Consent to Jurisdiction; Waiver of Jury Trial.  </font><font style="font-family:inherit;font-size:11pt;">The terms of Section 9.07, 9.11 and 9.15 of the Credit Agreement are incorporated herein by reference, </font><font style="font-family:inherit;font-size:11pt;font-style:italic;">mutatis mutandis</font><font style="font-family:inherit;font-size:11pt;">, and the parties hereto agree to such terms.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SECTION 9</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;">.  Counterparts.  </font><font style="font-family:inherit;font-size:11pt;">This Amendment may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original but all of which when </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:40%;"></td><td style="width:20%;"></td><td style="width:40%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:4pt;"><font style="font-family:inherit;font-size:4pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">taken together shall constitute a single contract.  Delivery of an executed signature page to this Amendment by facsimile or other customary means of electronic transmission, including by PDF file, shall be as effective as delivery of a manually signed counterpart of this Amendment.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SECTION 10</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;">.  Effectiveness.  </font><font style="font-family:inherit;font-size:11pt;">This Amendment shall become effective on the date on which each of the following conditions shall have been satisfied or waived (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Second Amendment Effective Date</font><font style="font-family:inherit;font-size:11pt;">&#8221;):</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:62px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">the Administrative Agent shall have received counterparts of this Amendment executed by the Borrower, each Subsidiary Guarantor, the Administrative Agent, the Collateral Agent, each Issuing Bank, the Swingline Lender and each other Lender; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:62px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">the Administrative Agent shall have received a certificate of a Responsible Officer of the Borrower certifying that the statements in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Sections 7(d)</font><font style="font-family:inherit;font-size:11pt;">&#32;and </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">(e)</font><font style="font-family:inherit;font-size:11pt;">&#32;are true as of the Second Amendment Effective Date; 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/s/ Lee E. Beckelman&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">&#32;<br>Name:  Lee E. 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Beckelman&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">&#32;<br>Name:  Lee E. 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Beckelman&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">&#32;<br>Name:  Lee E. Beckelman</font></div><div style="line-height:120%;text-align:justify;padding-left:312px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Title: Chief Financial Officer   </font></div><div style="line-height:120%;text-align:justify;padding-left:336px;text-indent:-24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:336px;text-indent:-24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">FAIRVIEW CRANBERRY COMPANY, LLC,</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:336px;text-indent:-24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">as a Subsidiary Guarantor </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:312px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By: Smart Sand, Inc., its Manager</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font></div><div style="line-height:120%;text-align:justify;padding-left:312px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By:</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">&#160;&#160;&#160;&#160; /s/ Lee E. Beckelman&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">&#32;<br>Name:  Lee E. Beckelman</font></div><div style="line-height:120%;text-align:justify;padding-left:312px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Title: Chief Financial Officer   </font></div><div style="line-height:120%;text-align:justify;padding-left:336px;text-indent:-24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:336px;text-indent:-24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WILL LOGISTICS, LLC, </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:336px;text-indent:-24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">as a Subsidiary Guarantor </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:312px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By: Smart Sand, Inc., its Manager</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font></div><div style="line-height:120%;text-align:justify;padding-left:312px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By:</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">&#160;&#160;&#160;&#160; /s/ Lee E. Beckelman&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">&#32;<br>Name:  Lee E. 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font-size:10pt;"><tr><td style="width:312px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:288px;"><font style="font-family:inherit;font-size:11pt;">By:</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">/s/ Chris Lam&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:11pt;">Name: Chris Lam</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:312px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Title: Authorized Signatory&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;padding-left:312px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-style:italic;">[Signature page to Second Amendment to Credit Agreement]</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:40%;"></td><td style="width:20%;"></td><td style="width:40%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:4pt;"><font style="font-family:inherit;font-size:4pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sE7D997C80B9F85533974A3C35C9DB050"></a></div><div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:justify;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">DEUTSCHE BANK AG NEW YORK BRANCH, as a Lender </font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; 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<br>Title: Vice President</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-style:italic;">[Signature page to Second Amendment to Credit Agreement]</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:40%;"></td><td style="width:20%;"></td><td style="width:40%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:4pt;"><font style="font-family:inherit;font-size:4pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s466D4D06F131E91070FCA3C35EAD78B2"></a></div><div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:justify;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">IBERIABANK, as a Lender</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By:</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">&#160;&#160;&#160;&#160;/s/ John Michael Robinson III&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">&#32;<br>Name:&#160;&#160;&#160;&#160;John Michael Robinson III <br>Title: Vice President</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-style:italic;">[Signature page to Second Amendment to Credit Agreement]</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:40%;"></td><td style="width:20%;"></td><td style="width:40%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:4pt;"><font style="font-family:inherit;font-size:4pt;"><br></font></div></div>	</body>
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