EXHIBIT 4.5

THIS SUBORDINATED PROMISSORY NOTE IS SUBJECT TO AN INTERCREDITOR AND SUBORDINATION AGREEMENT DATED AS OF AUGUST 11, 2008 (THE INTERCREDITOR AND SUBORDINATION
AGREEMENT) AMONG THE SUBORDINATED LENDERS PARTY THERETO, MODEL REORG ACQUISITION, LLC AND GENERAL ELECTRIC CAPITAL CORPORATION, AS AGENT AND COLLATERAL AGENT FOR CERTAIN LENDERS. BY ITS ACCEPTANCE OF THIS SUBORDINATED PROMISSORY NOTE, THE
HOLDER HEREOF AGREES TO BE BOUND BY THE PROVISIONS OF SUCH INTERCREDITOR AND SUBORDINATION AGREEMENT TO THE SAME EXTENT THAT THE SUBORDINATED LENDERS (AS DEFINED THEREIN) ARE BOUND.

MODEL REORG ACQUISITION, LLC

SUBORDINATED PROMISSORY NOTE



|              |  |                
|------------- |  | ---------------
|$7,388,212.15 |  | August 11, 2008

FOR VALUE RECEIVED, MODEL REORG ACQUISITION, LLC, a Delaware limited liability company and
successor by merger to Model Reorg, Inc., a New York corporation (the Company), hereby unconditionally promises to pay to the order of Arlene Nussdorf 10 year Grantor Retained Annuity Trust dated 11/1/98 (the Holder), in
immediately available funds, the principal amount of Seven Million Three Hundred Eighty-Eight Thousand Two Hundred Twelve and 15/100 Dollars ($7,388,212.15), and to pay interest on the unpaid principal amount hereof at the rate set forth in
Section 3. All amounts owed hereunder shall be paid in lawful money of the United States of America.

This Note is subject to the
following terms and conditions:

1. Payment of Principal. The principal amount hereof shall be payable in full on
February 11, 2012 (the Maturity Date).

2. Prepayment. The outstanding principal balance of this Note may be
prepaid by the Company at any time and from time to time, without premium or penalty of any kind or nature whatsoever. Prepayments shall be applied to accrued and unpaid interest due hereunder and then to the installments due hereunder in order of
maturity.

3. Payments of Interest. The Company shall pay or cause to be paid to Holder interest on the unpaid principal
amount hereof from time to time outstanding at a rate per annum equal to the then current Senior Debt Rate plus two percent (2%) per annum in



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arrears on the last day of each January, April, July and October commencing on January 31, 2009 and on the Maturity Date until this Note shall be paid
in full. Each change in any interest rate provided for in this Note based upon the Senior Debt Rate shall take effect at the time of such change in the Senior Debt Rate. Interest shall be calculated on the basis a 360 day year based on the actual
number of days elapsed.

As used herein:

Senior Debt Rate shall mean, as of any date, the interest rate applicable to the Revolving Credit Advances, as defined in and determined in accordance with that certain Credit Agreement dated as
August 11, 2008 among the Company, certain affiliates of the Company, the Lenders signatory thereto, General Electric Capital Corporation, as Agent, Collateral Agent and Lender, GE Capital Markets, Inc., as Joint Lead Arranger and Book Runner,
and Wachovia Capital Markets, as Joint Lead Arranger (as amended, the Senior Credit Agreement); provided that, if all of the Commitments (as defined in the Senior Credit Agreement) shall have been terminated in accordance with the
terms of the Senior Credit Agreement, the Senior Debt Rate, as of any date, shall be a rate per annum equal to (i) the rate published as of such date (or, if The Wall Street Journal shall not be published on such date, the
date on which its was last published) by The Wall Street Journal as the prime rate (or, if The Wall Street Journal ceases publishing a prime rate, the highest per annum rate of interest published by the Federal Reserve
Board in Federal Reserve statistical release H.15 (519) entitled Selected Interest Rates as the Bank prime loan rate or its equivalent) plus (ii) one percent (1%).

4. Payments. Any payment hereunder which is stated to be due on a day which is not a Business Day shall be made on the next succeeding
Business Day (and interest shall accrue for such extension of time). Business Day shall mean any day other than a Saturday or Sunday or a day on which banks in New York are authorized or required by law to be closed.

5. Default.The occurrence of any one or more of the following events shall constitute an event of default (each an Event of
Default) hereunder:

(i) if the Company becomes insolvent or makes an assignment for the benefit of creditors;

(ii) if there shall be filed by or against the Company any petition for any relief under the bankruptcy laws of the United States now or hereafter in
effect or any proceeding shall be commenced with respect to the Company under any insolvency, readjustment of debt, reorganization, dissolution, liquidation or similar law or statute of any jurisdiction now or hereafter in effect (whether at law or
in equity), provided that in the case of any involuntary filing or the commencement of any involuntary proceeding against the Company such proceeding or petition shall have continued undismissed and unvacated for ninety (90) days; or

(iii) if any petition or application to any court or tribunal, at law or in equity, shall be filed by or against the Company for the
appointment of any receiver for the Company or any material part of the property of the Company; provided that in the case of any involuntary filing against the Company, such proceeding or appointment shall have continued undismissed and unvacated
for ninety (90) days; or



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(iv) if the Company shall fail for any reason to make any payment of principal and/or interest hereunder
within ten (10) Business Days after such payment is due; or

(v) if the Company shall fail for any reason to make any payment of
principal and interest under the Senior Credit Agreement or any senior credit facility to which this Note shall be subordinated, within thirty (30) days after such payment is due.

6. Remedies Upon Default; Default Interest.

(i) If any Event of Default shall occur for any reason, then and in any such event, in addition to all rights and remedies of the Holder under applicable law or otherwise, all such rights and remedies being
cumulative, not exclusive and enforceable alternatively, successively and concurrently, the Holder may, at its option, declare any or all amounts owing under this Note to be due and payable, whereupon the then unpaid balance hereof, together with
all accrued and unpaid interest thereon, shall forthwith become due and payable.

(ii) Upon the occurrence of an Event of Default, or upon
the maturity hereof (by demand, acceleration or otherwise), the principal and any accrued but unpaid interest owing on said principal sum (the Obligations) shall bear interest from the date of occurrence of such Event of Default or such
maturity until collection (including any period of time occurring after judgment), at the Default Rate, being the lower of (A) the highest rate allowed by applicable law, or (B) a simple interest rate per annum equal to 3%
above the rate pursuant to Section 3 hereof in effect on the date of maturity (acceleration or otherwise). All default interest charges (X) shall be in addition to, and not in lieu of, any other remedy available to Holder; (Y) shall
be added to the Obligations , and (Z) shall not be construed as an agreement or privilege to extend the date of the payment of the Obligations, nor as a waiver of any other right or remedy accruing to Holder by reason of the occurrence of any
Event of Default.

7. Lost, Stolen, Mutilated or Destroyed Note. If this Note shall be mutilated, lost, stolen, or destroyed,
the Company shall execute and deliver, in exchange and substitution for and upon cancellation of a mutilated Note, or in lieu of or in substitution for a lost, stolen, or destroyed Note, a new Note for the principal amount of this Note so mutilated,
lost, stolen, or destroyed but only upon receipt of evidence (which may consist of a signed affidavit of the Holder) of such loss, theft, or destruction of such Note, and of the ownership thereof, and indemnity all reasonably satisfactory to the
Company.

8. Other Matters

(a) Modification; Waiver. This Note may be amended, modified, superseded, canceled, renewed or extended, and the terms hereof may be waived, only by a written instrument signed by the Company and the
Holder. Any waiver by the Company or the Holder of a breach of any provision of this Note shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Note. The failure of
the Company or the Holder to insist upon strict adherence to any term of this Note on one or more occasions shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term
of this Note. No delay on the part of any party in exercising



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any right, power or privilege hereunder shall operate as a waiver thereof or hereof, nor shall any waiver on the part of any party of any right, power or
privilege hereunder preclude any other or further exercise hereof or the exercise of any other right, power or privilege hereunder. Any waiver must be in writing. The rights and remedies provided herein are cumulative and are not exclusive of any
rights or remedies which any party may otherwise have at law or in equity.

(b) Notices. Any notice required or permitted to
be given hereunder (Notices) shall be in writing and delivered personally or mailed by registered or certified mail, postage prepaid and return receipt requested, or by fax, as follows: (i) if to the Company: 35 Sawgrass Drive,
Suite 2, Bellport, NY 11713, Attention: Michael W. Katz, Fax No.: (631) 866-4231; and (ii) if to the Holder: c/o Alfred R. Paliani, Esq., 35 Sawgrass Drive, Suite 1, Bellport, NY 11713, Fax No.: (631) 439-2262, in either case with a
copy to Edwards Angell Palmer & Dodge LLP, 750 Lexington Avenue, New York, New York, 10022 Attn: Patricia Kantor, fax no. (212) 408-4844, or such other address as the Company or the Holder hereto may designate by Notice to the other.

(c) Severability. If any provision of this Note is invalid, illegal, or unenforceable, the balance of this Note shall remain
in effect, and if any provision is inapplicable to any person or circumstance, it shall nevertheless remain applicable to all other persons and circumstances.

(d) Headings. The headings in this Note are solely for convenience of reference and shall be given no effect in the construction or interpretation of this Note.

(e) Governing Law. This Note shall be governed by and construed in all respects under the laws of the State of New York, without reference
to its conflict of laws, rules or principles that would defer to the laws of another jurisdiction.

(f) Venue and
Jurisdiction. Any action brought by the Company or the Holder against the other concerning the transactions contemplated by this Note shall be brought only in the civil or state courts of New York in the State of New York, County of Suffolk
or in the U.S. District Court for the Eastern District of New York. The Company and the Holder by its acceptance hereof agree to submit to the jurisdiction of such courts. The prevailing party shall be entitled to recover from the other party its
reasonable attorneys fees and costs.

(g) Expenses. The Company shall reimburse Holder for all reasonable costs and
expenses, including without limitation, reasonable attorneys fees and expenses, incurred in connection with enforcing any provisions of this Note and/or collecting any amounts due under this Note.

(h) Waiver of Demand, Etc. The Company hereby waives presentment for payment, protest and demand, and notice of protest, demand and/or
dishonor and nonpayment of this Note, notice of any Event of Default except as otherwise specifically provided herein, and all other notices or demands otherwise required by law that the Company may lawfully waive. The Company expressly agrees that
this Note, or any payment hereunder, may be extended from time to time, without in any way affecting the liability of the Company. No unilateral consent or waiver by the Holder with respect to any action or failure to act which, without consent,
would constitute a breach of any provision of this Note shall be valid and binding unless in writing and signed by the Holder.



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(i) Waiver of Jury Trial. The Company and the Holder by its acceptance hereof hereby
irrevocably waive any and all rights to trial by jury in any legal proceeding arising out of or relating to this Note.

(j) Pro Rata
Treatment of Noteholders. This Note is one of a number of Subordinated Promissory Notes of the Company described on Exhibit A attached hereto (collectively, the Trust Notes). Each payment or prepayment of principal of this Note
or any other Trust Note shall be made to the holders of the Trust Notes pro rata in accordance with the respective unpaid principal amounts of such holders respective Trust Notes. Each payment of interest on the Trust Notes shall be made to
the holders of the Trust Notes pro rata in accordance with the amounts of interest due and payable to such holders under such holders respective Trust Notes. Each distribution of cash, property, securities or other value received by the
holders of the Trust Notes in respect of the indebtedness outstanding under the Trust Notes, after payment of collection and other expenses as provided in the Trust Notes, shall be apportioned to such holders pro rata in accordance with the
respective unpaid principal amounts of and interest on such holders respective Trust Notes. In the event the Holder shall receive any payment of principal or interest under this Note or any other cash, property, securities or other value with
respect to this Note in excess of its pro rata share thereof as set forth above, the Holder shall hold such excess in trust for the benefit of the holders of the other Trust Notes.

(k) Saving Clause. This Note is subject to the express condition that at no time shall the Company be obligated or required to pay interest
on the principal balance due hereunder at a rate which could subject Holder to either civil or criminal liability as a result of being in excess of the maximum interest rate which the Company is permitted by law to contract or agree to pay. If by
the terms of this Note, the Company is at any time required or obligated to pay interest on the principal balance due hereunder, at a rate in excess of such maximum rate, the interest rate shall be deemed to be immediately reduced to such maximum
rate and all previous payments in excess of the maximum rate shall be deemed to have been payments in reduction of principal and not on account of the interest due hereunder notwithstanding the other provisions hereof.

IN WITNESS WHEREOF, the Company has caused this Note to be executed on its behalf by the undersigned officer thereunto duly authorized.



MODEL REORG ACQUISITION, LLCBy:

/s/    Michael W. KatzName:

Michael W. KatzTitle:

President and CEO




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EXHIBIT A

TRUST NOTES



|                                                                      |  |           |              
|--------------------------------------------------------------------- |  | --------- | -------------
|Trust Name                                                            |  | Principal
|Glenn Nussdorf 10 year Grantor Retained Annuity Trust dated 11/1/98   |  | $         | 7,388,212.15 
|Glenn Nussdorf 15 year Grantor Retained Annuity Trust dated 11/2/98   |  | $         | 11,067,018.85
|Stephen Nussdorf 10 year Grantor Retained Annuity Trust dated 11/1/98 |  | $         | 7,388,212.15 
|Stephen Nussdorf 15 year Grantor Retained Annuity Trust dated 11/2/98 |  | $         | 11,067,018.85
|Arlene Nussdorf 10 year Grantor Retained Annuity Trust dated 11/1/98  |  | $         | 7,388,212.15 
|Arlene Nussdorf 15 year Grantor Retained Annuity Trust dated 11/2/98  |  | $         | 11,067,018.85
|                                                                      |  |           |              
|Total Principal                                                       |  | $         | 55,365,693.00
|                                                                      |  |           |