Item 1.01 Entry into a Material Definitive Agreement.

On June 15, 2023, ARC Document Solutions, LLC (the "Company"), a wholly-owned subsidiary of ARC Document Solutions, Inc. ("ARC"), entered into an amendment (the "Amendment") to its Credit Agreement dated as of April 22, 2021 (the "Credit Agreement") with U.S. Bank National Association, as administrative agent and the lenders party thereto.

The Amendment, among other things, modifies certain terms of the Credit Agreement to replace the relevant benchmark provisions from the London Interbank Offered Rate to the forward-looking term rate based on the Secured Overnight Financing Rate. The Amendment also modifies certain terms of the Credit Agreement relating the payment of dividends and stock repurchases by ARC and the related component calculations included in the fixed charge coverage ratio that ARC is required to maintain. After giving effect to the Amendment, ARC is permitted to repurchase up $10 million of its stock in any twelve-month period and all such permitted stock repurchases will be excluded from the calculation of the fixed charge coverage ratio. In addition, ARC is permitted to make other restricted payments that are not stock repurchases, such as the payment of dividends, and up to $12 million of all such other restricted payments that are not stock repurchases made during any twelve-month period will be excluded from the calculation of the fixed charge coverage ratio. The making of stock repurchases and the payment of dividends and other restricted payments is subject, in each case, to pro forma compliance with the financial covenants and other customary conditions set forth in the Credit Agreement.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the complete text of the Amendment, a copy of which is attached hereto as Exhibit 10.1 and is incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits



(d) Exhibits

   Exhibit No.           Description

                           Amendment to Credit Agreement, dated June 15, 2023, among ARC Document
       10.1              Solutions, LLC, U.S. Bank National Association, as administrative agent and
                         the lenders party thereto.

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