EX-10.3



 Exhibit 10.3 

Execution Version 
 AMENDED
AND RESTATED 
 COLLATERAL AGREEMENT 

Dated as of August 1, 2014 

(originally dated as of May 11, 2012) 

among 
 VERSO PAPER HOLDINGS LLC,

 as Company, 
 each other
PLEDGOR identified herein, 
 and 

WILMINGTON TRUST, NATIONAL ASSOCIATION, 

as Collateral Agent 
 NOTWITHSTANDING ANYTHING
HEREIN TO THE CONTRARY, (I) THE LIENS AND SECURITY INTERESTS GRANTED TO THE COLLATERAL AGENT PURSUANT TO THIS AGREEMENT ARE EXPRESSLY SUBJECT AND SUBORDINATE TO THE LIENS AND SECURITY INTERESTS GRANTED TO ANY AGENT OR TRUSTEE FOR ANY
SENIOR LENDER (AS DEFINED IN THE INTERCREDITOR AGREEMENT REFERRED TO BELOW), AND (II) THE EXERCISE OF ANY RIGHT OR REMEDY BY THE COLLATERAL AGENT HEREUNDER IS SUBJECT TO THE LIMITATIONS AND PROVISIONS OF THE INTERCREDITOR AGREEMENT DATED AS OF
MAY 11, 2012 (AS FURTHER AMENDED, RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME, THE “INTERCREDITOR AGREEMENT”), BY AND AMONG CITIBANK, N.A., AS INTERCREDITOR AGENT AND AS ADMINISTRATIVE AGENT UNDER THE ABL CREDIT
AGREEMENT, CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, AS ADMINISTRATIVE AGENT UNDER THE CASH FLOW CREDIT AGREEMENT, WILMINGTON TRUST, NATIONAL ASSOCIATION, AS TRUSTEE UNDER THE 2019 FIRST-LIEN NOTES INDENTURE, WILMINGTON TRUST, NATIONAL ASSOCIATION,
AS TRUSTEE UNDER THE 1-1/2 LIEN NOTES INDENTURE, VERSO PAPER FINANCE HOLDINGS LLC, VERSO PAPER HOLDINGS, LLC AND THE SUBSIDIARIES PARTY THERETO. IN THE EVENT OF ANY CONFLICT BETWEEN THE TERMS OF THE INTERCREDITOR AGREEMENT AND THE TERMS OF THIS
AGREEMENT, THE TERMS OF THE INTERCREDITOR AGREEMENT SHALL GOVERN. 







 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE 1 DEFINITIONS
	  	 	2	  
			
	 Section 1.01.
	 	 Indenture
	  	 	2	  
			
	 Section 1.02.
	 	 Other Defined Terms
	  	 	2	  
		
	 ARTICLE 2 RESERVED
	  	 	9	  
		
	 ARTICLE 3 PLEDGE OF SECURITIES
	  	 	9	  
			
	 Section 3.01.
	 	 Pledge
	  	 	9	  
			
	 Section 3.02.
	 	 Delivery of the Pledged Collateral
	  	 	11	  
			
	 Section 3.03.
	 	 Representations, Warranties and Covenants
	  	 	12	  
			
	 Section 3.04.
	 	 Registration in Nominee Name; Denominations
	  	 	14	  
			
	 Section 3.05.
	 	 Voting Rights; Dividends and Interest, Etc
	  	 	14	  
		
	 ARTICLE 4 SECURITY INTERESTS IN OTHER PERSONAL PROPERTY
	  	 	16	  
			
	 Section 4.01.
	 	 Security Interest
	  	 	16	  
			
	 Section 4.02.
	 	 Representations and Warranties
	  	 	19	  
			
	 Section 4.03.
	 	 Covenants
	  	 	22	  
			
	 Section 4.04.
	 	 Other Actions
	  	 	24	  
			
	 Section 4.05.
	 	 Covenants Regarding Patent, Trademark and Copyright Collateral
	  	 	25	  
		
	 ARTICLE 5 REMEDIES
	  	 	27	  
			
	 Section 5.01.
	 	 Remedies Upon Default
	  	 	27	  
			
	 Section 5.02.
	 	 Application of Proceeds
	  	 	29	  
			
	 Section 5.03.
	 	 Securities Act, Etc
	  	 	30	  
		
	 ARTICLE 6 RESERVED
	  	 	30	  
		
	 ARTICLE 7 MISCELLANEOUS
	  	 	30	  
			
	 Section 7.01.
	 	 Notices
	  	 	30	  
			
	 Section 7.02.
	 	 Security Interest Absolute
	  	 	31	  
			
	 Section 7.03.
	 	 Limitation by Law
	  	 	31	  


  
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	 Section 7.04.
	 	 Binding Effect; Several Agreement
	  	 	31	  
			
	 Section 7.05.
	 	 Successors and Assigns
	  	 	31	  
			
	 Section 7.06.
	 	 Collateral Agent’s Fees and Expenses; Indemnification
	  	 	32	  
			
	 Section 7.07.
	 	 Collateral Agent Appointed Attorney-in-Fact
	  	 	33	  
			
	 Section 7.08.
	 	 GOVERNING LAW
	  	 	33	  
			
	 Section 7.09.
	 	 Waivers; Amendment
	  	 	33	  
			
	 Section 7.10.
	 	 WAIVER OF JURY TRIAL
	  	 	34	  
			
	 Section 7.11.
	 	 Severability
	  	 	34	  
			
	 Section 7.12.
	 	 Counterparts
	  	 	34	  
			
	 Section 7.13.
	 	 Headings
	  	 	35	  
			
	 Section 7.14.
	 	 Jurisdiction; Consent to Service Of Process
	  	 	35	  
			
	 Section 7.15.
	 	 Termination or Release
	  	 	35	  
			
	 Section 7.16.
	 	 Additional Subsidiaries
	  	 	36	  
			
	 Section 7.17.
	 	 Right of Set-off
	  	 	36	  
			
	 Section 7.18.
	 	 Intercreditor Agreements
	  	 	36	  
			
	 Section 7.19.
	 	 Other Senior Documents
	  	 	37	  
			
	 Section 7.20.
	 	 Other Pari Passu Obligations
	  	 	37	  

 Schedules 
  

			
	Schedule I	  	Subsidiary Parties
	Schedule II	  	Equity and Debt Securities
	Schedule III	  	Intellectual Property
	Schedule IV	  	Filing Jurisdictions
	Schedule V	  	Commercial Tort Claims
	Schedule VI	  	Matters Relating to Accounts and Inventory

 Exhibits 
  

			
	Exhibit I	  	Form of Supplement to the Collateral Agreement
	Exhibit II	  	Form of Other Pari Passu Obligations Secured Party Joinder Agreement
	Exhibit III	  	Form of Issuer Acknowledgment and Consent


  
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 AMENDED AND RESTATED COLLATERAL AGREEMENT dated as of August 1, 2014 (this
“Agreement”), among VERSO PAPER HOLDINGS LLC, a Delaware limited liability company (the “Company”), VERSO PAPER INC. (“Finance Co” and, together with the Company, the “Issuers”),
each Subsidiary of the Company identified on Schedule I or otherwise identified herein as a party (each, a “Subsidiary Party”), and Wilmington Trust, National Association, as collateral agent (in such capacity, together with any
successor collateral agent, the “Collateral Agent”) for the Secured Parties (as defined below). 
 WHEREAS, pursuant to the
Collateral Agreement (the “Original Collateral Agreement”), dated as of May 11, 2012 by and among the Issuers, the Subsidiary Parties and the Collateral Agent, the Pledgors, in order to induce the Secured Party to enter into
certain transactions, assigned and pledged the Collateral (as defined in the Original Collateral Agreement) to secure the Obligations. 

WHEREAS, pursuant to the terms, conditions and provisions of the Indenture, dated as of May 11, 2012 (as amended, restated, amended and
restated, supplemented, waived or otherwise modified from time to time, the “Indenture”), among the Issuers, the Subsidiary Parties, and Wilmington Trust, National Association, as trustee (the “Trustee), the Issuers
issued $271,573,000 aggregate principal amount of 11.75% Senior Secured Notes due 2019 (the “Notes”), which were and are guaranteed on a senior secured basis by each of the Subsidiary Parties. 

WHEREAS, pursuant to (i) the Credit Agreement dated as of May 4, 2012 (as amended, restated, supplemented or otherwise modified from
time to time, the “ABL Credit Agreement”), among Verso Paper Finance Holdings LLC, a Delaware limited liability company (“Holdings”), the Company, as borrower, certain lenders, Citibank, N.A., as administrative
agent (the “ABL Administrative Agent”), (ii) the Credit Agreement dated as of May 4, 2012 (as amended, restated, supplemented or otherwise modified from time to time, the “Cash Flow Credit Agreement”),
among Holdings, the Company, as borrower, certain lenders, Credit Suisse AG, Cayman Islands Branch, as administrative agent (the “Cash Flow Administrative Agent”) and (iii) the Indenture dated as of March 21, 2012 (as
amended, restated, supplemented or otherwise modified from time to time, the “First Lien Notes Indenture”), among the Issuers, the Guarantors named therein, and Wilmington Trust, National Association, as Trustee, the Pledgors (as
defined below) granted to the Senior Lenders (as defined in the Secured Notes Intercreditor Agreement) a first-priority lien and security interest in the Collateral. 

WHEREAS, the Issuers, the Subsidiary Parties, the Collateral Agent and the agents on behalf of the first-priority lien secured parties entered
into a Secured Notes Intercreditor Agreement dated as of May 11, 2012 (as amended, restated, supplemented or otherwise modified from time to time, the “Secured Notes Intercreditor Agreement”), pursuant to which the Liens upon
and security interest in the Collateral granted by the Original Collateral Agreement and this Agreement are and shall be subordinated in all respects to the Liens upon and security interest in the Collateral granted pursuant to, and subject to the
terms and conditions of, the Senior Lender Documents (as defined in the Secured Notes Intercreditor Agreement). 







 WHEREAS, from time to time after the date hereof, the Company may, subject to the terms and
conditions of the Indenture, incur Other Pari Passu Obligations, which when incurred would be equally and ratably secured with the Obligations. 

WHEREAS, pursuant to Section 7.18 below, this Agreement shall be subject to the terms and conditions of the Secured Notes Intercreditor
Agreement in all respects. 
 WHEREAS the parties now wish to amend and restate the Original Collateral Agreement, in the form hereof, in
connection with the Issuers’ exchange of certain second-lien notes, each Pledgor agrees with the Collateral Agent for the ratable benefit of the Secured Parties as follows: 

ARTICLE 1 

DEFINITIONS 

Section 1.01. Indenture. (a) Capitalized terms used in this Agreement and not otherwise defined herein have the respective
meanings assigned thereto in the Indenture. All terms defined in the New York UCC (as defined herein) and not defined in this Agreement have the meanings specified therein. The term “instrument” shall have the meaning specified in
Article 9 of the New York UCC. If the First Lien Termination Date (as defined below) has occurred, a reference in this Agreement to the Applicable Agent shall, unless the context requires otherwise, be construed as a reference to the Collateral
Agent and this agreement shall be interpreted accordingly. 
 (b) The definitions set forth or referred to in Section 1.02 shall apply
equally to both the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and
“including” shall be deemed to be followed by the phrase “without limitation.” All references herein to Articles, Sections, Exhibits and Schedules shall be deemed references to Articles and Sections of, and Exhibits and Schedules
to, this Agreement unless the context shall otherwise require. Except as otherwise expressly provided herein, any reference in this Agreement to any Note Document shall mean such document as amended, restated, amended and restated, supplemented or
otherwise modified from time to time. 
 Section 1.02. Other Defined Terms. As used in this Agreement, the following terms have
the meanings specified below: 
 “ABL Administrative Agent” has the meaning specified in the preamble, together with its
successors in such capacity. 
 “ABL Credit Agreement” has the meaning specified in the preamble. 

“Account Debtor” means any person who is or who may become obligated to any Pledgor under, with respect to or on account of
an Account, Chattel Paper, General Intangibles, Instruments or Investment Property. 
 “Amendment and Restatement Date”
means the date of this Agreement. 

  
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 “Applicable Agent” means the Intercreditor Agent (as defined in the Secured
Notes Intercreditor Agreement), provided that in the event the First Lien Termination Date shall have occurred, the Applicable Agent shall be the Collateral Agent. 

“Article 9 Collateral” has the meaning assigned to such term in Section 4.01. 

“Authorized Representative” with respect to any Other Pari Passu Obligations means the agent or trustee under the agreement
pursuant to which such Other Pari Passu Obligations are issued or incurred. 
 “Bucksport Co-Gen Assets” means all right,
title and interest of Verso Bucksport LLC in, to and under the Amended and Restated Co-Owners Ownership, Operating & Mutual Sales Agreement by and between Champion International Corporation and Bucksport Energy LLC, including without
limitation any ownership interests as tenants in common in the property rights established pursuant thereto. 
 “Cash Flow
Administrative Agent” has the meaning specified in the preamble, together with its successors in such capacity. 
 “Cash
Flow Credit Agreement” has the meaning specified in the preamble. 
 “CFC” means a “controlled foreign
corporation” within the meaning of section 957(a) of the Internal Revenue Code of 1986, as amended from time to time and the regulations promulgated and rulings issued thereunder. 

“CFC Holding Company” means any Subsidiary of the Company that (i) is a disregarded entity or partnership for U.S.
Federal income tax purposes and (ii) owns one or more CFCs, either directly or indirectly through other entities that are disregarded entities or partnerships for U.S. Federal income tax purposes, and all such entities have no material assets
(excluding equity interests in each other) other than equity interests of such CFCs. 
 “Closing Date” means the Issue Date
as defined in the Indenture. 
 “Collateral” means Article 9 Collateral and Pledged Collateral. 

“Company” has the meaning specified in the preamble. 

“Control Agreement” means a deposit account control agreement, a securities account control agreement or a commodity account
control agreement, as applicable, enabling the Collateral Agent to obtain “control” (within the meaning of the New York UCC) of any such accounts, in form and substance reasonably satisfactory to the Collateral Agent. 

“Copyright License” means any written agreement, now or hereafter in effect, granting any right to any Pledgor under any
Copyright now or hereafter owned by any third party, and all rights of any Pledgor under any such agreement (including, without limitation, any such rights that such Pledgor has the right to license). 

  
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 “Copyrights” means all of the following now owned or hereafter acquired by any
Pledgor: (a) all copyright rights in any work subject to the copyright laws of the United States or any other country, whether as author, assignee, transferee or otherwise, (b) all registrations and applications for registration of any
such Copyright in the United States or any other country, including registrations, supplemental registrations and pending applications for registration in the United States Copyright Office and the right to obtain all renewals thereof, including
those listed on Schedule III, (c) all claims for, and rights to sue for, past or future infringements of any of the foregoing and (d) all income, royalties, damages and payments now or hereafter due and payable with respect to any of the
foregoing, including damages and payments for past or future infringement thereof. 
 “Discharge of Senior Lender Claims”
has the meaning assigned to such term in the Secured Notes Intercreditor Agreement. 
 “Excluded Equity” means: 

(1) the issued and outstanding voting equity interests of any Foreign Subsidiary directly owned by a Pledgor, to the extent the pledge of any
such equity interest would cause more than 65% of the outstanding voting equity interests of such Foreign Subsidiary to be pledged; 
 (2)
to the extent applicable law requires that a Subsidiary of a Pledgor issue director’ qualifying shares, such shares or nominee or other similar shares, 

(3) any equity interests of a Subsidiary to the extent that, as of the Issue Date, and for so long as, such a pledge of such equity interests
would violate applicable law or an enforceable contractual obligation binding on or relating to such equity interests; 
 (4) any equity
interests acquired after the Issue Date in a person that is not a Subsidiary if, and to the extent that, and for so long as, a grant of a security interest in such equity interest would violate applicable law or an enforceable contractual obligation
binding on or relating to such equity interests (if such obligation existed at the time of acquisition of such equity interests and was not created or made binding on such equity interests in contemplation of or in connection with the acquisition of
such equity interests); and 
 (5) equity interests owned by Verso Paper LLC in each of (a) Androscoggin Reservoir Company and
(b) Gulf Island Oxygenation Project L.P., for so long as such interests are subject to an enforceable contractual obligation (including rights of first refusal) restricting the grant of a security interest therein. 

“Federal Securities Laws” has the meaning assigned to such term in Section 5.03. 

“Finance Co.” has the meaning specified in the preamble. 

“First Lien Termination Date” means, subject to Section 5.7 of the Secured Notes Intercreditor Agreement, the date on
which the Discharge of Senior Lender Claims 

  
 4 








 
occurs; provided that if, at any time after the First Lien Termination Date, the Discharge of Senior Lender Claims is deemed not to have occurred pursuant to Section 5.7 of the Intercreditor
Agreement, the First Lien Termination Date shall automatically be deemed not to have occurred for all purposes of this Agreement (other than with respect to any actions taken prior to the date of incurrence and designation of any Future First-Lien
Indebtedness as a result of the occurrence of such first Discharge of Senior Lender Claims). 
 “General Intangibles” means
all “General Intangibles” as defined in the New York UCC, including all choses in action and causes of action and all other intangible personal property of any Pledgor of every kind and nature (other than Accounts) now owned or hereafter
acquired by any Pledgor, including corporate or other business records, indemnification claims, contract rights (including rights under leases, whether entered into as lessor or lessee, Swap Agreements and other agreements), Intellectual Property
(but excluding “intent-to-use” applications for trademark or service mark registrations filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. § 1051, unless and until an Amendment to Allege Use or a Statement of Use
under Sections 1(c) and 1(d) of Lanham Act has been filed, to extent that, and solely during the period for which, any assignment of an “intent-to-use” application prior to such filing would violate the Lanham Act), goodwill,
registrations, franchises, tax refund claims and any guarantee, claim, security interest or other security held by or granted to any Pledgor to secure payment by an Account Debtor of any of the Accounts. 

“Governmental Authority” shall mean any federal, state, local or foreign court or governmental agency, authority,
instrumentality or regulatory or legislative body. 
 “Holdings” has the meaning specified in the preamble. 

“Indenture” has the meaning specified in the preamble. 

“Indenture Documents” means (a) the Indenture, the Notes, the Security Documents and this Agreement and (b) any
other related documents or instruments executed and delivered pursuant to the Indenture or any Security Document, in each case, as such agreements may be amended, restated, supplemented or otherwise modified from time to time. 

“Indenture Parties” means the Issuers and the Subsidiary Parties. 

“Intellectual Property” means all intellectual property of every kind and nature now owned or hereafter acquired by any
Pledgor, including, inventions, designs, Patents, Copyrights, Trademarks, Patent Licenses, Copyright Licenses, Trademark Licenses, trade secrets, domain names, confidential or proprietary technical and business information, know-how, show-how or
other data or information and all related documentation. 
 “Intellectual Property Security Agreement” means a security
agreement in the form hereof or a short form hereof, in each case, which form shall be reasonably acceptable to the Collateral Agent. 

  
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 “IP Agreements” means all material Copyright Licenses, Patent Licenses,
Trademark Licenses, and all other agreements, permits, consents, orders and franchises relating to the license, development, use or disclosure of any material Intellectual Property to which a Pledgor, now or hereafter, is a party or a beneficiary,
including, without limitation, the agreements set forth on Schedule III hereto. 
 “Issuers” has the meaning specified in
the preamble. 
 “Letter of Credit” means a letter of credit issued under any Credit Agreement. 

“Material Adverse Effect” shall mean a material adverse effect on the business, property, operations or condition of
Holdings, the Company and their Subsidiaries, taken as a whole, or the validity or enforceability of any of the material Note Documents or the rights and remedies of the Secured Parties thereunder. 

“New York UCC” means the Uniform Commercial Code as from time to time in effect in the State of New York. 

“Note Documents” means this Agreement, the Indenture, the Notes and the Security Documents. 

“Note Obligations” has the meaning set forth in the Indenture. 

“Obligations” means (a) the Note Obligations and (b) if any Other Pari Passu Obligations are incurred, (1) the
due and punctual payment by the Company of (i) the unpaid principal of and interest (including interest accruing during the pendency interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other
similar proceeding, regardless of whether allowed or allowable in such proceeding) owing to any holder of Other Pari Passu Obligations under any Other Pari Passu Obligations Documents, when and as due, whether at maturity, by acceleration, upon one
or more dates set for prepayment or otherwise, and (ii) all other monetary obligations of the Company to any holder of Other Pari Passu Obligations under the Other Pari Passu Obligations Documents, including obligations to pay fees, expense
reimbursement obligations and indemnification obligations, 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), (2) the due and punctual performance of all other obligations of the Company under or pursuant to the Other Pari Passu Obligations Documents and (3) the due and
punctual payment and performance of all the obligations of each other Pledgor under or pursuant to this Agreement and the Other Pari Passu Obligations Documents. 

“Other Pari Passu Obligations” means other Indebtedness of the Company and its Restricted Subsidiaries that is equally and
ratably secured with the Securities as permitted by the Indenture and any Other Pari Passu Obligations Documents in effect at the time such Indebtedness is incurred and which is designated by the Company as an Other Pari Passu Obligation in
accordance with Section 7.20 hereof. 

  
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 “Other Pari Passu Obligations Documents” means any document or instrument
executed and delivered with respect to any Other Pari Passu Obligations, including the Security Documents and this Agreement, in each case, as such agreements, documents or instruments may be amended, restated, supplemented or otherwise modified
from time to time. 
 “Other Pari Passu Obligations Secured Party Joinder Agreement” means a Joinder Agreement,
substantially in the form of Exhibit II hereto, executed by the Authorized Representative of any holders of Other Pari Passu Obligations pursuant to Section 7.20. 

“Patent License” means any written agreement, now or hereafter in effect, granting to any Pledgor any right to make, use or
sell any invention covered by a Patent, now or hereafter owned by any third party (including, without limitation, any such rights that such Pledgor has the right to license). 

“Patents” means all of the following now owned or hereafter acquired by any Pledgor: (a) all letters patent of the
United States or the equivalent thereof in any other country or jurisdiction, including those listed on Schedule III, and all applications for letters patent of the United States or the equivalent thereof in any other country or jurisdiction,
including those listed on Schedule III, (b) all provisionals, reissues, extensions, continuations, divisions, continuations-in-part, reexaminations or revisions thereof, and the inventions disclosed or claimed therein, including the right to
make, use, import and/or sell the inventions disclosed or claimed therein, (c) all claims for, and rights to sue for, past or future infringements of any of the foregoing and (d) all income, royalties, damages and payments now or hereafter
due and payable with respect to any of the foregoing, including damages and payments for past or future infringement thereof. 

“Permitted Liens” means Liens that are not prohibited by the Indenture or any Other Pari Passu Obligations Document. 

“person” shall mean any natural person, corporation, business trust, joint venture, association, company, partnership,
limited liability company or government, individual or family trusts, or any agency or political subdivision thereof. 
 “Pledged
Collateral” has the meaning assigned to such term in Section 3.01. 
 “Pledged Debt Securities” has the
meaning assigned to such term in Section 3.01. 
 “Pledged Securities” means any promissory notes, stock certificates
or other certificated securities now or hereinafter included in the Pledged Collateral, including all certificates, instruments or other documents representing or evidencing any Pledged Collateral. 

“Pledged Stock” has the meaning assigned to such term in Section 3.01. 

“Pledgor” shall mean each Issuer and each Subsidiary Party. 

  
 7 








 “SEC” means the Securities and Exchange Commission, or any Governmental
Authority succeeding to any of its principal functions. 
 “Second-Priority Lien Documents” means the Note Documents and
the Other Pari Passu Obligations Documents. 
 “Secured Notes Intercreditor Agreement” has the meaning assigned to such
term in the recitals of this Agreement. 
 “Secured Parties” means (a) the Collateral Agent, (b) the holders of
the Securities and any other Note Obligations, (c) the beneficiaries of each indemnification obligation undertaken by any Indenture Party under any Indenture Document, (d) the Trustee, (e) the holders of any Other Pari Passu
Obligations and their Authorized Representative, provided that such Authorized Representative executes an Other Pari Passu Obligations Secured Party Joinder Agreement, and (f) the successors and permitted assigns of each of the
foregoing. 
 “Security Documents” means this Agreement, any agreement pursuant to which assets are added to the Collateral
and any other instruments or documents entered into and delivered in connection with any of the foregoing, in each case, in favor of the Collateral Agent as security for the Obligations, as such agreements, instruments or documents may from time to
time be amended. 
 “Security Interest” has the meaning assigned to such term in Section 4.01. 

“Senior Collateral Documents” has the meaning assigned to such term in the Secured Notes Intercreditor Agreement. 

“Senior Lender Claims” has the meaning assigned to such term in the Secured Notes Intercreditor Agreement. 

“Senior Lender Documents” has the meaning assigned to such term in the Secured Notes Intercreditor Agreement. 

“Senior Lenders” has the meaning assigned to such term in the Secured Notes Intercreditor Agreement. 

“Subsidiary Party” has the meaning assigned to such term in the preliminary statement of this Agreement, and any Subsidiary
that becomes a party hereto pursuant to Section 7.16. 
 “Swap Agreement” shall mean any agreement with respect to any
swap, forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or
measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided, that no phantom stock or similar plan providing for payments only on account of services provided by
current or former directors, officers, employees or consultants of Holdings, the Company or any of the Subsidiaries shall be a Swap Agreement. 

  
 8 








 “Trademark License” means any written agreement, now or hereafter in effect,
granting to any Pledgor any right to use any Trademark now or hereafter owned by any third party (including, without limitation, any such rights that such Pledgor has the right to license). 

“Trademarks” means all of the following now owned or hereafter acquired by any Pledgor: (a) all trademarks, service
marks, corporate names, company names, business names, fictitious business names, trade styles, trade dress, logos, other source or business identifiers, designs and general intangibles of like nature, now existing or hereafter adopted or acquired,
all registrations thereof (if any), and all registration and recording applications filed in connection therewith, including registrations and registration applications in the United States Patent and Trademark Office or any similar offices in any
State of the United States or any other country or any political subdivision thereof (except for “intent-to-use” applications for trademark or service mark registrations filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C.
§ 1051, unless and until an Amendment to Allege Use or a Statement of Use under Sections 1(c) and 1(d) of Lanham Act has been filed, to extent that, and solely during the period for which, any assignment of an
“intent-to-use” application prior to such filing would violate the Lanham Act), and all renewals thereof, including those listed on Schedule III, (b) all goodwill associated therewith or symbolized thereby, (c) all claims for,
and rights to sue for, past or future infringements of any of the foregoing and (d) all income, royalties, damages and payments now or hereafter due and payable with respect to any of the foregoing, including damages and payments for past or
future infringement thereof. 
 “Trustee” has the meaning specified in the preamble. 

ARTICLE 2 
 RESERVED

 ARTICLE 3 

PLEDGE OF SECURITIES 

Section 3.01. Pledge. As security for the payment or performance, as the case may be, in full of its Obligations, each
Pledgor hereby assigns and pledges to the Collateral Agent, its successors and permitted assigns, for the ratable benefit of the Secured Parties, and hereby grants to the Collateral Agent, its successors and permitted assigns, for the ratable
benefit of the Secured Parties, a security interest in all of such Pledgor’s right, title and interest in, to and under (a) the Equity Interests directly owned by it (including those listed on Schedule II) and any other Equity Interests
obtained in the future by such Pledgor and any certificates representing all such Equity Interests (the “Pledged Stock”); provided that the Pledged Stock shall not include (i) (A) more than 65% of the issued and
outstanding voting Equity Interests of any “first tier” Foreign 

  
 9 








 
Subsidiary directly owned by such Pledgor, (B) more than 65% of the issued and outstanding voting Equity Interests of any “first tier” CFC Holding Company directly owned by such
Pledgor, (C) any issued and outstanding Equity Interest of any Foreign Subsidiary that is not a “first tier” Foreign Subsidiary, and (D) any issued and outstanding Equity Interests of any CFC Holding Company that is not a
“first tier” CFC Holding Company, (ii) to the extent applicable law requires that a Subsidiary of such Pledgor issue directors’ qualifying shares, such shares or nominee or other similar shares, (iii) any Equity Interests of
a Subsidiary to the extent that, as of the Amendment and Restatement Date, and for so long as, such a pledge of such Equity Interests would violate applicable law or an enforceable contractual obligation binding on or relating to such Equity
Interests, or (iv) any Equity Interests of a person that is not directly or indirectly a Subsidiary, as to which Article 4 shall apply; (b)(i) the debt obligations listed opposite the name of such Pledgor on Schedule II, (ii) any
debt securities in the future issued to such Pledgor having, in the case of each instance of debt securities, an aggregate principal amount in excess of $5.0 million, and (iii) the certificates, promissory notes and any other instruments, if
any, evidencing such debt securities (the “Pledged Debt Securities”); (c) subject to Section 3.05 hereof, all payments of principal or interest, dividends, cash, instruments and other property from time to time received,
receivable or otherwise distributed in respect of, in exchange for or upon the conversion of, and all other proceeds received in respect of, the securities referred to in clauses (a) and (b) above; (d) subject to Section 3.05
hereof, all rights and privileges of such Pledgor with respect to the securities and other property referred to in clauses (a), (b) and (c) above; and (e) all proceeds of any of the foregoing (the items referred to in clauses
(a) through (c) above being collectively referred to as the “Pledged Collateral”). 
 TO HAVE AND TO HOLD, to the
extent consistent with the terms of the Secured Notes Intercreditor Agreement, the Pledged Collateral, together with all right, title, interest, powers, privileges and preferences pertaining or incidental thereto, unto the Collateral Agent, its
successors and permitted assigns, for the ratable benefit of the Secured Parties, forever; subject, however, to the terms, covenants and conditions hereinafter set forth. 

Notwithstanding anything else contained in this Agreement in the event that Rule 3-16 of Regulation S-X under the United States
Securities Act of 1933 would require (or is replaced with another rule or regulation, or any other law, rule or regulation is adopted, which would require) (such law, rule or regulation, as amended or replaced with another
rule or regulation, “Rule 3-16”) the filing with the SEC of separate financial statements of any Subsidiary of the Company due to the fact that a security interest in such Subsidiary’s Equity Interests or other
securities has been granted hereunder as security for the payment or performance of the Note Obligations, then, solely to the extent securing the Note Obligations, the Lien granted pursuant to this Agreement or any other Security Document in such
Equity Interests (the “Rule 3-16 Excluded Collateral”) shall not secure, or constitute “Collateral” with respect to the Note Obligations solely to the extent necessary and only for so long as required to cause the
Company and its Subsidiaries to not be subject to such requirement. In such event, the Collateral Agent may and (at the written request and expense of the Company) shall take actions, without the consent of any Secured Party, to the extent necessary
to evidence such exclusion from 

  
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the Lien granted hereunder in favor of the Collateral Agent of the Rule 3-16 Excluded Collateral solely with respect to the Note Obligations; provided that the Collateral Agent shall
not be required to take any such action unless the Company shall have delivered to the Collateral Agent, together with such written request, a certificate of an Officer of the Company certifying that such action is permitted by the Note Documents,
and any such action taken by the Collateral Agent shall be without recourse to or warranty by the Collateral Agent. In the event that Rule 3-16 is amended, modified or interpreted by the SEC to permit (or is replaced with another rule or
regulation, or any other law, rule or regulation is adopted, which would permit) any Rule 3-16 Excluded Collateral to secure the Note Obligations in excess of the amount then pledged without the filing with the SEC (or any other
Governmental Authority) of separate financial statements for such Subsidiary of the Company, then the Equity Interest of such Subsidiary will automatically be deemed to be a part of the Collateral for the Note Obligations, to the extent otherwise
required by this Agreement. 
 Section 3.02. Delivery of the Pledged Collateral. (a) Each Pledgor agrees promptly to
deliver or cause to be delivered to the Applicable Agent, for the ratable benefit of the Secured Parties, any and all Pledged Securities to the extent such Pledged Securities, in the case of promissory notes or other instruments evidencing
Indebtedness, are required to be delivered pursuant to paragraph (b) of this Section 3.02. 
 (b) Each Pledgor will cause any
Indebtedness for borrowed money having an aggregate principal amount in excess of $5.0 million (other than (i) intercompany current liabilities incurred in the ordinary course of business in connection with the cash management operations and
intercompany sales of Holdings, the Company and its Subsidiaries or (ii) to the extent that a pledge of such promissory note or instrument would violate applicable law) owed to such Pledgor by any person to be evidenced by a duly executed
promissory note that is pledged and delivered to the Applicable Agent, for the ratable benefit of the Secured Parties, pursuant to the terms hereof. To the extent any such promissory note is a demand note, each Pledgor party thereto agrees, if
requested by the Collateral Agent, to immediately demand payment thereunder upon an Event of Default specified under Sections 6.01(a), (b), (e), (f), or (g) of the Indenture, unless such demand would not be commercially reasonable or would
otherwise expose Pledgor to liability to the maker. 
 (c) Upon delivery to the Applicable Agent, (i) any Pledged Securities required
to be delivered pursuant to the foregoing paragraphs (a) and (b) of this Section 3.02 shall be accompanied by stock powers or note powers, as applicable duly executed in blank or other instruments of transfer reasonably satisfactory
to the Applicable Agent and by such other instruments and documents as the Applicable Agent may reasonably request and (ii) all other property composing part of the Pledged Collateral delivered pursuant to the terms of this Agreement shall be
accompanied to the extent necessary to perfect the security interest in or allow realization on the Pledged Collateral by proper instruments of assignment duly executed by the applicable Pledgor and such other instruments or documents (including
issuer acknowledgments in respect of uncertificated securities in the form of Exhibit III hereto) as the Applicable Agent may reasonably request. Each delivery of Pledged Securities shall be accompanied by a


  
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schedule describing the securities, which schedule shall be attached hereto as Schedule II (or a supplement to Schedule II, as applicable) and made a part hereof; provided that failure to
attach any such schedule hereto shall not affect the validity of such pledge of such Pledged Securities. Each schedule so delivered shall supplement any prior schedules so delivered. 

Section 3.03. Representations, Warranties and Covenants. The Pledgors, jointly and severally, represent, warrant and covenant to
and with the Collateral Agent, for the ratable benefit of the Secured Parties, that: 
 (a) Schedule II correctly sets forth the percentage
of the issued and outstanding shares of each class of Equity Interests of the issuer thereof represented by such Pledged Stock and includes all Equity Interests, debt securities and promissory notes or instruments evidencing Indebtedness required to
be (i) pledged in order to satisfy the requirements of the Note Documents, or (ii) delivered pursuant to Section 3.02(b); 

(b) the Pledged Stock and the Pledged Debt Securities (solely with respect to Pledged Debt Securities issued by a person that is not a
Subsidiary of Holdings or an Affiliate of any such Subsidiary, to the best of each Pledgor’s knowledge) have been duly and validly authorized and issued by the issuers thereof and (i) in the case of Pledged Stock, are fully paid and
nonassessable (other than with respect to Pledged Stock consisting of membership interests of limited liability companies to the extent provided in Sections 18-502 and 18-607 of the Delaware Limited Liability Company Act) and (ii) in the case
of Pledged Debt Securities (solely with respect to Pledged Debt Securities issued by a person that is not a Subsidiary of Holdings or an Affiliate of any such subsidiary, to the best of each Pledgor’s knowledge) are legal, valid and binding
obligations of the issuers thereof, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, general equitable principles
(whether considered in a proceeding at law or in equity) and an implied covenant of good faith and fair dealing; 
 (c) except for the
security interests granted hereunder, each Pledgor (i) is and, subject to any transfers made in compliance with the Note Documents, will continue to be the direct owner, beneficially and of record, of the Pledged Securities indicated on
Schedule II as owned by such Pledgor, (ii) holds the same free and clear of all Liens, other than Permitted Liens, (iii) will make no assignment, pledge, hypothecation or transfer of, or create or permit to exist any security interest in
or other Lien on, the Pledged Collateral, other than pursuant to a transaction permitted by the Note Documents and other than Permitted Liens and (iv) subject to the rights of such Pledgor under the Note Documents to dispose of Pledged
Collateral, will use commercially reasonable efforts to defend its title or interest hereto or therein against any and all Liens (other than Permitted Liens), however arising, of all persons; 

(d) other than as set forth in the Credit Agreement or the schedules thereto, and except for restrictions and limitations imposed by the Notes
Documents or securities laws generally or otherwise permitted to exist pursuant to the terms of the Notes Documents, the Pledged Stock (other than partnership interests) is and will 

  
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continue to be freely transferable and assignable, and none of the Pledged Stock is or will be subject to any option, right of first refusal, shareholders agreement, charter or by-law provisions
or contractual restriction of any nature that might prohibit, impair, delay or otherwise affect the pledge of such Pledged Stock hereunder, the sale or disposition thereof pursuant hereto or the exercise by the Collateral Agent of rights and
remedies hereunder; 
 (e) each Pledgor has the power and authority to pledge the Pledged Collateral pledged by it hereunder in the manner
hereby done or contemplated; 
 (f) no action, consent or approval of, registration or filing with or any other action by any Governmental
Authority is or will be required in connection with the perfection or maintenance of the Liens created hereunder or the exercise by the Collateral Agent or any Secured Party of its rights hereunder or the remedies in respect of the Collateral,
except for (a) the filing of Uniform Commercial Code financing statements, (b) filings with the United States Patent and Trademark Office and the United States Copyright Office and comparable offices in foreign jurisdictions and equivalent
filings in foreign jurisdictions, (c) such actions, consents, approvals, registrations and filings have been made or obtained and are in full force and effect and (d) such actions, consents, approvals, registrations and filings the failure
of which to be obtained or made would not reasonably be expected to have a Material Adverse Effect; 
 (g) by virtue of the execution and
delivery by the Pledgors of this Agreement any pledge agreement governed by foreign law, when any Pledged Securities (including foreign stock covered by any pledge agreement governed by foreign law) are delivered to the Collateral Agent, for the
ratable benefit of the Secured Parties, in accordance with this Agreement and a financing statement covering such Pledged Securities is filed in the appropriate filing office, the Collateral Agent will obtain, for the ratable benefit of the Secured
Parties, a legal, valid and perfected lien upon and security interest in such Pledged Securities under the New York UCC, subject only to Liens permitted under the Note Documents, as security for the payment and performance of the Obligations; 

(h) each Pledgor that is an issuer of the Pledged Collateral confirms that it has received notice of the security interest granted hereunder;

 (i) as of the Amendment and Restatement Date, none of the Equity Interests in limited liability companies or partnerships that is pledged
by the Pledgors hereunder constitutes a security under Section 8-103 of the New York UCC or the corresponding code or statute of any other applicable jurisdiction; and 

(j) the Pledgors shall not amend, or permit to be amended, the limited liability company agreement (or operating agreement or similar
agreement) or partnership agreement of any Subsidiary of any Issuer whose Equity Interests are, or are required to be, Collateral in a manner to cause such Equity Interests to constitute a security under Section 8-103 of the New York UCC or the
corresponding code or statute of any other applicable jurisdiction unless such Loan Party shall have first delivered 10 days written 

  
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notice to the Collateral Agent and shall have taken all actions contemplated hereby and as otherwise reasonably required by the Collateral Agent to maintain the security interest of the
Collateral Agent therein as a valid, perfected security interest. 
 Section 3.04. Registration in Nominee Name; Denominations.
The Applicable Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in the name of the applicable Pledgor, endorsed or assigned in blank or in favor of the Applicable
Agent or, if an Event of Default shall have occurred and be continuing, in its own name as pledgee or the name of its nominee (as pledgee or as sub-agent). Each Pledgor will promptly give to the Applicable Agent copies of any notices or other
communications received by it with respect to Pledged Securities registered in the name of such Pledgor. If an Event of Default shall have occurred and be continuing, the Applicable Agent shall have the right to exchange the certificates
representing Pledged Securities for certificates of smaller or larger denominations for any purpose consistent with this Agreement. Each Pledgor shall use its commercially reasonable efforts to cause any Indenture Party that is not a party to this
Agreement to comply with a request by the Applicable Agent, pursuant to this Section 3.04, to exchange certificates representing Pledged Securities of such Indenture Party for certificates of smaller or larger denominations. 

Section 3.05. Voting Rights; Dividends and Interest, Etc. (a) Unless and until an Event of Default shall have occurred and be
continuing and the Collateral Agent shall have given notice to the relevant Pledgors of the Collateral Agent’s intention to exercise its rights hereunder: 

(i) Each Pledgor shall be entitled to exercise any and all voting and/or other consensual rights and powers inuring to an owner
of Pledged Collateral or any part thereof for any purpose consistent with the terms of this Agreement and the other Note Documents; provided, that, except as permitted under the Note Documents, such rights and powers shall not be exercised in
any manner that could materially and adversely affect the rights inuring to a holder of any Pledged Collateral, the rights and remedies of any of the Collateral Agent or the other Secured Parties under any Note Document or the ability of the Secured
Parties to exercise the same. 
 (ii) The Collateral Agent shall promptly execute and deliver to each Pledgor, or cause to be
executed and delivered to such Pledgor, all such proxies, powers of attorney and other instruments as such Pledgor may reasonably request for the purpose of enabling such Pledgor to exercise the voting and/or consensual rights and powers it is
entitled to exercise pursuant to subparagraph (i) above. 
 (iii) Each Pledgor shall be entitled to receive and retain
any and all dividends, interest, principal and other distributions paid on or distributed in respect of the Pledged Collateral to the extent and only to the extent that such dividends, interest, principal and other distributions are permitted by,
and otherwise paid or distributed in accordance with, the terms and conditions of the 

  
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Note Documents and applicable laws; provided, that (A) any noncash dividends, interest, principal or other distributions, payments or other consideration in respect thereof, including
any rights to receive the same to the extent not so distributed or paid, that would constitute Pledged Securities, whether resulting from a subdivision, combination or reclassification of the outstanding Equity Interests of the issuer of any Pledged
Securities, received in exchange for Pledged Securities or any part thereof, or in redemption thereof, as a result of any merger, consolidation, acquisition or other exchange of assets to which such issuer may be a party or otherwise or (B) any
non-cash dividends and other distributions paid or payable in respect of any Pledged Securities that would constitute Pledged Securities in connection with a partial or total liquidation or dissolution or in connection with a reduction of capital,
capital surplus or paid in surplus, shall be and become part of the Pledged Collateral, and, if received by any Pledgor, shall not be commingled by such Pledgor with any of its other funds or property but shall be held separate and apart therefrom,
shall be held in trust for the benefit of the Applicable Agent and the Collateral Agent, for the ratable benefit of the Secured Parties, and shall be forthwith delivered to the Applicable Agent, for the ratable benefit of the Secured Parties, in the
same form as so received (endorsed in a manner reasonably satisfactory to the Applicable Agent). 
 (b) In accordance with, and to the
extent consistent with, the terms of the Secured Notes Intercreditor Agreement, upon the occurrence and during the continuance of an Event of Default and after notice by the Collateral Agent to the Company of the Collateral Agent’s intention to
exercise its rights hereunder, all rights of any Pledgor to dividends, interest, principal or other distributions that such Pledgor is authorized to receive pursuant to paragraph (a)(iii) of this Section 3.05 shall cease, and all such
rights shall thereupon become vested, for the ratable benefit of the Secured Parties, in the Applicable Agent which shall have the sole and exclusive right and authority to receive and retain such dividends, interest, principal or other
distributions; provided, however, that even after the occurrence of an Event of Default, any Pledgor may continue to exercise dividend and distribution rights solely to the extent permitted under subclause (xii) and subclause
(xiii) of Section 4.04(b) of the Indenture, and not otherwise prohibited by any Note Documents. All dividends, interest, principal or other distributions received by any Pledgor contrary to the provisions of this Section 3.05 shall
not be commingled by such Pledgor with any of its other funds or property but shall be held separate and apart therefrom, shall be held in trust for the benefit of the Applicable Agent, for the ratable benefit of the Secured Parties, and shall be
forthwith delivered to the Applicable Agent, for the ratable benefit of the Secured Parties, in the same form as so received (endorsed in a manner reasonably satisfactory to the Applicable Agent). Any and all money and other property paid over to or
received by the Applicable Agent pursuant to the provisions of this paragraph (b) shall be retained by the Applicable Agent in an account to be established by the Applicable Agent upon receipt of such money or other property and shall be
applied in accordance with the provisions of Section 5.02 hereof. After all Events of Default have been cured or waived and the Company has delivered to the Applicable Agent a certificate to that effect, the Applicable Agent shall promptly
release to each Pledgor (without interest) all dividends, interest, principal or other distributions that such Pledgor would otherwise be permitted to retain pursuant to the terms of paragraph (a)(iii) of this Section 3.05 and that remain
in such account. 

  
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 (c) In accordance with, and to the extent consistent with, the terms of the Secured Notes
Intercreditor Agreement, upon the occurrence and during the continuance of an Event of Default and after notice by the Collateral Agent to the Company of the Collateral Agent’s intention to exercise its rights hereunder, all rights of any
Pledgor to exercise the voting and/or consensual rights and powers it is entitled to exercise pursuant to paragraph (a)(i) of this Section 3.05, and the obligations of the Collateral Agent under paragraph (a)(ii) of this
Section 3.05, shall cease, and all such rights shall thereupon become vested in the Collateral Agent (subject to the Secured Notes Intercreditor Agreement), for the ratable benefit of the Secured Parties, which shall have the sole and exclusive
right and authority to exercise such voting and consensual rights and powers; provided that, to the extent consistent with, the terms of the Secured Notes Intercreditor Agreement and the Indenture, unless the Collateral Agent shall have
received written objections from Holders of at least 25% in principal amount of the Notes, the Collateral Agent shall have the right from time to time following and during the continuance of an Event of Default to permit the Pledgors to exercise
such rights. After all Events of Default have been cured or waived and the Company has delivered to the Collateral Agent a certificate to that effect, each Pledgor shall have the right to exercise the voting and/or consensual rights and powers that
such Pledgor would otherwise be entitled to exercise pursuant to the terms of paragraph (a)(i) above. 
 ARTICLE 4 

SECURITY INTERESTS IN OTHER PERSONAL PROPERTY 

Section 4.01. Security Interest. (a) As security for the payment or performance when due (whether at the stated
maturity, by acceleration or otherwise), as the case may be, in full of its Obligations, each Pledgor hereby assigns and pledges to the Collateral Agent, its successors and permitted assigns, for the ratable benefit of the Secured Parties, and
hereby grants to the Collateral Agent, its successors and permitted assigns, for the ratable benefit of the Secured Parties, a security interest (the “Security Interest”) in all right, title and interest in or to any and all of the
following assets and properties now owned or at any time hereafter acquired by such Pledgor or in which such Pledgor now has or at any time in the future may acquire any right, title or interest (collectively, the “Article 9
Collateral”): 
 (i) all Accounts; 

(ii) all Chattel Paper; 

(iii) all cash and Deposit Accounts; 

(iv) all Documents; 

(v) all Equipment; 

(vi) all General Intangibles; 

  
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 (vii) all Instruments; 

(viii) all Inventory; 

(ix) all Investment Property; 

(x) all Letter of Credit Rights; 

(xi) all Commercial Tort Claims; 

(xii) (1) Securities Accounts, (2) Financial Assets credited to Securities Accounts or Deposit Accounts from time to time
and all Security Entitlements in respect thereof, (3) all cash held any Securities Account or Deposit Account and (4) all other money in the possession of the Collateral Agent; 

(xiii) all timber to be cut; 

(xiv) all other personal property not otherwise described above (except for property specifically excluded from any defined
term used in any of the foregoing clauses); 
 (xv) all books and records pertaining to the Article 9 Collateral; and

 (xvi) to the extent not otherwise included, all proceeds, Supporting Obligations and products of any and all of the
foregoing and all collateral security and guarantees given by any person with respect to any of the foregoing. 
 Notwithstanding anything to the contrary
in this Agreement, the Indenture or any Security Documents, this Agreement shall not constitute a grant of a security interest in (and the following shall not constitute Collateral for the Obligations) (A) any property or assets owned by any
Foreign Subsidiaries, (B) Excluded Equity, (C) any debt securities issued to a Pledgor having, in the case of each instance of debt securities, an aggregate principal amount not in excess of $5.0 million, (D) any securities of any of
the Company’s Subsidiaries to the extent a pledge of such securities to secure any of the Notes would require the filing of financial statements pursuant to Rule 3-16 of Regulation S-X, (E) any vehicle covered by a certificate of title or
ownership, whether now owned or hereafter acquired, (F) (i) the Bucksport Co-Gen Assets and (ii) any assets acquired after the Closing Date to the extent that, and for so long as, granting a security interest in such assets would
violate an enforceable contractual obligation binding on such assets that existed at the time of acquisition thereof and was not created or made binding on such assets in contemplation or in connection with the acquisition of such assets (except in
the case of assets acquired with Indebtedness of the type permitted pursuant to Section 4.03(b)(iv) of the Indenture or any equivalent exception under any other agreement governing indebtedness that is secured by a Permitted Lien), (G) any
property excluded from the definition of Pledged Collateral by virtue of the proviso to Section 3.01 hereof, (H) any Letter of Credit Rights to the extent any Pledgor is required by applicable


  
 17 








 
law to apply the proceeds of a drawing of such Letter of Credit for a specified purpose, (I) any Pledgor’s right, title or interest in any license, contract or agreement to which such
Pledgor is a party or any of its right, title or interest thereunder to the extent, but only to the extent, that such a grant would, under the terms of such license, contract or agreement, result in a breach of the terms of, or constitute a default
under, or result in the abandonment, invalidation or unenforceability of, any license, contract or agreement to which such Pledgor is a party (other than to the extent that any such term would be rendered ineffective pursuant to Section 9-406, 9-407, 9-408 or 9-409 of the New York UCC or any other applicable law (including, without limitation, Title 11 of the United States Code) or principles of equity); provided, that immediately upon the
ineffectiveness, lapse or termination of any such provision, the Collateral shall include, and such Pledgor shall be deemed to have granted a security interest in, all such rights and interests as if such provision had never been in effect, or
(J) any asset or property that is not at any time subject to a Lien securing the Senior Lender Claims at such time. 
 (b) Each Pledgor
hereby irrevocably authorizes the Collateral Agent at any time and from time to time to file in any relevant jurisdiction any financing statements (including fixture filings and filings with respect to timber to be cut) with respect to the
Article 9 Collateral or any part thereof and amendments thereto that contain the information required by Article 9 of the Uniform Commercial Code of each applicable jurisdiction for the filing of any financing statement or amendment,
including (i) whether such Pledgor is an organization, the type of organization and any organizational identification number issued to such Pledgor, (ii) in the case of a financing statement filed as a fixture filing, a sufficient
description of the real property to which such Article 9 Collateral relates and (iii) a description of collateral that describes such property in any other manner as the Collateral Agent may reasonably determine is necessary or advisable
to ensure the perfection of the security interest in the Article 9 Collateral granted under this Agreement, including describing such property as “all assets” or “all property.” Each Pledgor agrees to provide such
information to the Collateral Agent promptly upon request, including providing within 30 days of any reasonable request therefor legal descriptions of real property (other than real property subject to a Mortgage) on which timber to be cut of such
Pledgor is located. 
 The Collateral Agent is further authorized to file with the United States Patent and Trademark Office or United
States Copyright Office (or any successor office) such documents as may be reasonably necessary or advisable for the purpose of perfecting, confirming, continuing, enforcing or protecting the Security Interest granted by each Pledgor, without the
signature of any Pledgor, and naming any Pledgor or the Pledgors as debtors and the Collateral Agent as secured party. Notwithstanding anything to the contrary herein, no Pledgor shall be required to take any action under the laws of any
jurisdiction other than the United States (or any political subdivision thereof) and its territories and possessions for the purpose of perfecting the Security Interest in any Article 9 Collateral of such Pledgor constituting Patents,
Trademarks or Copyrights. 
 (c) The Security Interest is granted as security only and shall not subject the Collateral Agent or any other
Secured Party to, or in any way alter or modify, any obligation or liability of any Pledgor with respect to or arising out of the Article 9 Collateral. 

(d) Notwithstanding anything to the contrary in the Note Documents, none of the Pledgors shall be required to enter into any Control Agreement
with respect to any cash or Deposit Account or (except as provided in Section 4.04(b)) any Securities Account. 

  
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 Section 4.02. Representations and Warranties. The Pledgors jointly and severally
represent and warrant to the Collateral Agent and the Secured Parties that: 
 (a) Each Pledgor has good and valid rights in and title to
the Article 9 Collateral with respect to which it has purported to grant a Security Interest hereunder and has full power and authority to grant to the Collateral Agent the Security Interest in such Article 9 Collateral pursuant hereto and
to execute, deliver and perform its obligations in accordance with the terms of this Agreement, without the consent or approval of any other person other than any consent or approval that has been obtained and is in full force and effect or has
otherwise been disclosed herein or in the Indenture. 
 (b) The information set forth in the Schedules attached hereto is correct and
complete, in all material respects, as of the Amendment and Restatement Date. The Uniform Commercial Code financing statements (including fixture filings, as applicable) or other appropriate filings, recordings or registrations containing a
description of the Article 9 Collateral that have been prepared by the Collateral Agent for filing in each governmental, municipal or other office specified in Schedule IV (or specified by notice from the Company to the Collateral Agent after
the Closing Date in the case of filings, recordings or registrations required by Section 4.16 of the Indenture or corresponding provisions of any other Note Documents) and in each relevant governmental, municipal or other office pertaining to
real property for which a legal description is provided pursuant to Section 4.01(b) constitute all the filings, recordings and registrations (except to the extent that filings are required to be made in the United States Patent and
Trademark Office and the United States Copyright Office, or any similar office in any other jurisdiction, in order to perfect the Security Interest in Article 9 Collateral consisting of United States Patents, United States registered Trademarks
and United States registered Copyrights) that are necessary to publish notice of and protect the validity of and to establish a legal, valid and perfected security interest in favor of the Collateral Agent (for the ratable benefit of the Secured
Parties) in respect of all Article 9 Collateral in which the Security Interest may be perfected by filing, recording or registration in the United States (or any political subdivision thereof) and its territories and possessions, and no further
or subsequent filing, refiling, recording, rerecording, registration or reregistration is necessary in any such jurisdiction, except as provided under applicable law with respect to the filing of continuation statements or amendments. Each Pledgor
represents and warrants that a fully executed Intellectual Property Security Agreement containing a description of all Article 9 Collateral consisting of Intellectual Property with respect to United States Patents (and Patents for which United
States applications are pending), United States registered Trademarks (and Trademarks for which United States registration applications are pending) and United States registered 

  
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Copyrights (and Copyrights for which United States registration applications are pending) has been delivered to the Collateral Agent for recording with the United States Patent and Trademark
Office and the United States Copyright Office pursuant to 35 U.S.C. § 261, 15 U.S.C. § 1060 or 17 U.S.C. § 205 and the regulations thereunder, as applicable, and reasonably requested by the Collateral Agent, to protect
the validity of and to establish a legal, valid and perfected security interest in favor of the Collateral Agent, for the ratable benefit of the Secured Parties, in respect of all Article 9 Collateral consisting of such Intellectual Property in
which a security interest may be perfected by recording with the United States Patent and Trademark Office and the United States Copyright Office, and no further or subsequent filing, refiling, recording, rerecording, registration or reregistration
is necessary (other than the Uniform Commercial Code financing statements referred to above, and other than such actions as are necessary to perfect the Security Interest with respect to any Article 9 Collateral consisting of United States
Patents, Trademarks and Copyrights (or registration or application for registration thereof) acquired or developed after the date hereof). 

(c) The Security Interest constitutes (i) a legal and valid security interest in all the Article 9 Collateral securing the payment
and performance of the Obligations, (ii) subject to the filings described in Section 4.02(b), a perfected security interest in all Article 9 Collateral in which a security interest may be perfected by filing, recording or registering
a financing statement or analogous document in the United States (or any political subdivision thereof) and its territories and possessions pursuant to the Uniform Commercial Code or other applicable law in such jurisdictions and (iii) a
security interest that shall be perfected in all Article 9 Collateral in which a security interest may be perfected upon the receipt and recording of the Intellectual Property Security Agreement with the United States Patent and Trademark
Office and the United States Copyright Office, as applicable. The Security Interest is and shall be a second priority Security Interest, prior to any other Lien on any of the Article 9 Collateral, other than Liens in respect of Senior Lender
Claims, subject to Permitted Liens. 
 (d) The Article 9 Collateral is owned by the Pledgors free and clear of any Lien, other than
Permitted Liens. None of the Pledgors has filed or consented to the filing of (i) any financing statement or analogous document under the Uniform Commercial Code or any other applicable laws covering any Article 9 Collateral, (ii) any
assignment in which any Pledgor assigns any Article 9 Collateral or any security agreement or similar instrument covering any Article 9 Collateral with the United States Patent and Trademark Office or the United States Copyright Office or
(iii) any assignment in which any Pledgor assigns any Article 9 Collateral or any security agreement or similar instrument covering any Article 9 Collateral with any foreign governmental, municipal or other office, which financing
statement or analogous document, assignment, security agreement or similar instrument is still in effect, except, in each case, for Permitted Liens. 

(e) None of the Pledgors holds any Commercial Tort Claim individually in excess of $5.0 million as of the Amendment and Restatement Date
except as indicated on Schedule V. 

  
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 (f) Except as set forth in Schedule VI, as of the Amendment and Restatement Date, all Accounts
have been originated by the Pledgors and all Inventory has been produced or acquired by the Pledgors in the ordinary course of business. 

(g) As to itself and its Article 9 Collateral consisting of Intellectual Property (the “Intellectual Property
Collateral”), to the best of each Pledgor’s knowledge: 
 (i) The Intellectual Property Collateral set forth on
Schedule III includes all of the material Patents, Trademarks, Copyrights and IP Agreements owned by such Pledgor as of the date hereof. 

(ii) The Intellectual Property Collateral is subsisting and, to the best of such Pledgor’s knowledge, has not been
adjudged invalid or unenforceable in whole or part (except for office actions issued in the ordinary course by the United States Patent and Trademark Office or any similar office in any foreign jurisdiction), and to the best of such Pledgor’s
knowledge, is valid and enforceable, except as would not reasonably be expected to have a Material Adverse Effect. Such Pledgor is not aware of any uses of any item of Intellectual Property Collateral that would be expected to lead to such item
becoming invalid or unenforceable, except as would not reasonably be expected to have a Material Adverse Effect. 
 (iii)
Such Pledgor has made or performed all commercially reasonable acts, including without limitation filings, recordings and payment of all required fees and taxes, required to maintain and protect its interest in each and every item of Intellectual
Property Collateral in full force and effect in the United States and such Pledgor has used proper statutory notice in connection with its use of each Patent, Trademark and Copyright in the Intellectual Property Collateral, in each case, except to
the extent that the failure to do so would not reasonably be expected to have a Material Adverse Effect. 
 (iv) With respect
to each IP Agreement, the absence, termination or violation of which would reasonably be expected to have a Material Adverse Effect: (A) such Pledgor has not received any notice of termination or cancellation under such IP Agreement;
(B) such Pledgor has not received any notice of a breach or default under such IP Agreement, which breach or default has not been cured or waived; and (C) to the knowledge of such Pledgor, neither such Pledgor nor any other party to such
IP Agreement is in breach or default thereof in any material respect, and no event has occurred that, with notice or lapse of time or both, would constitute such a breach or default or permit termination, modification or acceleration under such IP
Agreement. 
 (v) Except as would not reasonably be expected to have a Material Adverse Effect, no Pledgor or Intellectual
Property Collateral is subject to any outstanding consent, settlement, decree, order, injunction, judgment or ruling restricting the use of any Intellectual Property Collateral or that would impair the validity or enforceability of such Intellectual
Property Collateral. 

  
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 Section 4.03. Covenants. (a) Each Pledgor agrees to provide at least 10
days’ prior written notice to Collateral Agent of any change (i) in its corporate or organization name, (ii) in its identity or type of organization or corporate structure, (iii) in its Federal Taxpayer Identification Number or
organizational identification number or (iv) in its “location” (determined as provided in the Uniform Commercial Code Section 9-307). Each Pledgor agrees promptly to provide the Collateral Agent with certified
organizational documents reflecting any of the changes described in the immediately preceding sentence. Each Pledgor agrees not to effect or permit any change referred to in the first sentence of this paragraph (a) unless all filings have been
made, or will have been made within any applicable statutory period, under the Uniform Commercial Code or otherwise that are required in order for the Collateral Agent to continue at all times following such change to have a valid, legal and
perfected first priority security interest in all the Article 9 Collateral, for the ratable benefit of the Secured Parties. Each Pledgor agrees promptly to notify the Collateral Agent if any material portion of the Article 9 Collateral
owned or held by such Pledgor is damaged or destroyed. 
 (b) Subject to the rights of such Pledgor under the Note Documents to dispose of
Collateral, each Pledgor shall, at its own expense, use commercially reasonable efforts to defend title to the Article 9 Collateral against all persons and to defend the Security Interest of the Collateral Agent, for the ratable benefit of the
Secured Parties, in the Article 9 Collateral and the priority thereof against any Lien that is not a Permitted Lien. 
 (c) Each
Pledgor agrees, at its own expense, to execute, acknowledge, deliver and cause to be duly filed all such further instruments and documents and take all such actions that, in accordance with, and to the extent consistent with the terms of the Secured
Notes Intercreditor Agreement and the Indenture, the Holders of at least 25% in principal amount of the Notes or the Collateral Agent may from time to time reasonably request to better assure, preserve, protect and perfect the Security Interest and
the rights and remedies created hereby, including the payment of any fees and taxes required in connection with the execution and delivery of this Agreement and the granting of the Security Interest and the filing of any financing statements
(including fixture filings) or other documents in connection herewith or therewith. If any amount payable under or in connection with any of the Article 9 Collateral that is in excess of $5.0 million shall be or become evidenced by any
promissory note or other instrument, such note or instrument shall be promptly pledged and delivered to the Applicable Agent, for the ratable benefit of the Secured Parties, duly endorsed in a manner reasonably satisfactory to the Applicable Agent.

 Without limiting the generality of the foregoing, each Pledgor hereby authorizes the Applicable Agent, with prompt notice thereof to the
Pledgors, to supplement this Agreement by supplementing Schedule III or adding additional schedules hereto to specifically identify any asset or item that may constitute material Copyrights, Patents, Trademarks, Copyright Licenses, Patent Licenses
or Trademark Licenses; provided that 

  
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any Pledgor shall have the right, exercisable within 30 days after the Company has been notified by the Applicable Agent of the specific identification of such Article 9 Collateral, to
advise the Applicable Agent in writing of any inaccuracy of the representations and warranties made by such Pledgor hereunder with respect to such Article 9 Collateral. Each Pledgor agrees that it will use its commercially reasonable efforts to
take such action as shall be necessary in order that all representations and warranties hereunder shall be true and correct with respect to such Article 9 Collateral within 30 days after the date it has been notified by the Applicable Agent of
the specific identification of such Article 9 Collateral. 
 (d) In accordance with, and to the extent consistent with, the terms of
the Secured Notes Intercreditor Agreement, after the occurrence of an Event of Default and during the continuance thereof, the Collateral Agent shall have the right to verify under reasonable procedures the validity, amount, quality, quantity,
value, condition and status of, or any other matter relating to, the Article 9 Collateral, including, in the case of Accounts or Article 9 Collateral in the possession of any third person, by contacting Account Debtors or the third person
possessing such Article 9 Collateral for the purpose of making such a verification. The Collateral Agent shall have the right to share any information it gains from such inspection or verification with any Secured Party. 

(e) In accordance with, and to the extent consistent with, the terms of the Secured Notes Intercreditor Agreement, at its option, the
Collateral Agent may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Article 9 Collateral and not a Permitted Lien, and may pay for the maintenance and
preservation of the Article 9 Collateral to the extent any Pledgor fails to do so as required by the Note Documents or this Agreement, and each Pledgor jointly and severally agrees to reimburse the Collateral Agent on demand for any reasonable
payment made or any reasonable expense incurred by the Collateral Agent pursuant to the foregoing authorization; provided, however, that nothing in this Section 4.03(e) shall be interpreted as excusing any Pledgor from the
performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other promises of any Pledgor with respect to taxes, assessments, charges, fees, Liens, security interests or other
encumbrances and maintenance as set forth herein or in the other Note Documents. 
 (f) Each Pledgor (rather than the Collateral Agent or
any Secured Party) shall remain liable for the observance and performance of all the conditions and obligations to be observed and performed by it under each contract, agreement or instrument relating to the Article 9 Collateral and each
Pledgor jointly and severally agrees to indemnify and hold harmless the Collateral Agent and the Secured Parties from and against any and all liability for such performance. 

(g) None of the Pledgors shall make or permit to be made an assignment, pledge or hypothecation of the Article 9 Collateral or shall
grant any other Lien in respect of the Article 9 Collateral, except as permitted by the Note Documents and the other provisions hereof. None of the Pledgors shall make or permit to be made any transfer of the Article 9 Collateral and each
Pledgor shall remain at all times in possession of the Article 9 Collateral owned by it, except as permitted by the Note Documents and the other provisions hereof. 

  
 23 








 (h) None of the Pledgors will, without the Collateral Agent’s prior written consent (which
consent shall not be unreasonably withheld), grant any extension of the time of payment of any Accounts included in the Article 9 Collateral, compromise, compound or settle the same for less than the full amount thereof, release, wholly or
partly, any person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with
prudent business practices or as otherwise permitted under the Note Documents. 
 (i) Each Pledgor irrevocably makes, constitutes and
appoints the Applicable Agent (and all officers, employees or agents designated by the Applicable Agent) as such Pledgor’s true and lawful agent (and attorney-in-fact) for the purpose, during the continuance of an Event of Default, of making,
settling and adjusting claims in respect of Article 9 Collateral under policies of insurance, endorsing the name of such Pledgor on any check, draft, instrument or other item of payment for the proceeds of such policies of insurance and for
making all determinations and decisions with respect thereto. In the event that any Pledgor at any time or times shall fail to obtain or maintain any of the policies of insurance required hereby or to pay any premium in whole or part relating
thereto, the Applicable Agent may, without waiving or releasing any obligation or liability of the Pledgors hereunder or any Event of Default, in its sole discretion, obtain and maintain such policies of insurance and pay such premium and take any
other actions with respect thereto as the Applicable Agent reasonably deems advisable. All sums disbursed by the Applicable Agent in connection with this Section 4.03(i), including reasonable attorneys’ fees, court costs, expenses and
other charges relating thereto, shall be payable, upon demand, by the Pledgors to the Applicable Agent and shall be additional Obligations secured hereby. 

Section 4.04. Other Actions. In order to further ensure the attachment, perfection and priority of, and the ability of the
Collateral Agent to enforce, for the ratable benefit of the Secured Parties, the Collateral Agent’s security interest in the Article 9 Collateral, each Pledgor agrees, in each case at such Pledgor’s own expense, to take the following
actions with respect to the following Article 9 Collateral: 
 (a) Instruments and Tangible Chattel Paper. If any Pledgor shall
at any time hold or acquire any Instrument (other than checks received and processed in the ordinary course of business) or Tangible Chattel Paper evidencing an amount in excess of $5.0 million, such Pledgor shall forthwith endorse, assign and
deliver the same to the Applicable Agent, accompanied by such instruments of transfer or assignment duly executed in blank as the Applicable Agent may from time to time reasonably request. 

(b) Investment Property. Except to the extent otherwise provided in Article 3, if any Pledgor shall at any time hold or acquire
any certificated security constituting Pledged Collateral or Article 9 Collateral, such Pledgor shall forthwith endorse, assign and deliver the same to the Applicable Agent, accompanied by such 


  
 24 








 
instruments of transfer or assignment duly executed in blank as the Applicable Agent may from time to time reasonably specify. If any security of a domestic issuer now owned or hereafter acquired
by any Pledgor is uncertificated and is issued to such Pledgor or its nominee directly by the issuer thereof, such Pledgor shall promptly notify the Applicable Agent of such uncertificated securities and (i) upon the Applicable Agent’s
reasonable request or (ii) upon the occurrence and during the continuance of an Event of Default, such Pledgor shall pursuant to an agreement in form and substance reasonably satisfactory to the Applicable Agent, either (x) cause the
issuer thereof to execute and deliver to the Applicable Agent an issuer acknowledgement in respect of such uncertificated securities in the form of Exhibit III hereto or (y) cause the issuer to register the Applicable Agent as the registered
owner of such security. If any security or other Investment Property, whether certificated or uncertificated, representing an Equity Interest in a third party and having a fair market value in excess of $5.0 million now or hereafter acquired by any
Pledgor is held by such Pledgor or its nominee through a securities intermediary or commodity intermediary, such Pledgor shall promptly notify the Applicable Agent thereof and, at the Applicable Agent’s request and option, pursuant to a Control
Agreement in form and substance reasonably satisfactory to the Applicable Agent, either (A) cause such securities intermediary or commodity intermediary, as applicable, to agree, in the case of a securities intermediary, to comply with
entitlement orders or other instructions from the Applicable Agent to such securities intermediary as to such securities or other Investment Property or, in the case of a commodity intermediary, to apply any value distributed on account of any
commodity contract as directed by the Applicable Agent to such commodity intermediary, in each case without further consent of any Pledgor or such nominee, or (B) in the case of Financial Assets or other Investment Property held through a
securities intermediary, arrange for the Applicable Agent to become the entitlement holder with respect to such Investment Property, for the ratable benefit of the Secured Parties, with such Pledgor being permitted, only with the consent of the
Applicable Agent, to exercise rights to withdraw or otherwise deal with such Investment Property. The Applicable Agent agrees with each of the Pledgors that the Applicable Agent shall not give any such entitlement orders or instructions or
directions to any such issuer, securities intermediary or commodity intermediary, and shall not withhold its consent to the exercise of any withdrawal or dealing rights by any Pledgor, unless an Event of Default has occurred and is continuing or,
after giving effect to any such withdrawal or dealing rights, would occur. The provisions of this paragraph (b) shall not apply to any Financial Assets credited to a Securities Account for which the Applicable Agent is the securities
intermediary. 
 (c) Commercial Tort Claims. If any Pledgor shall at any time hold or acquire a Commercial Tort Claim in an amount
reasonably estimated to exceed $5.0 million, such Pledgor shall promptly notify the Applicable Agent thereof in a writing signed by such Pledgor, including a summary description of such claim, and grant to the Applicable Agent in writing a security
interest therein and in the proceeds thereof, all under the terms and provisions of this Agreement, with such writing to be in form and substance reasonably satisfactory to the Applicable Agent. 

Section 4.05. Covenants Regarding Patent, Trademark and Copyright Collateral. Except as permitted by the Note Documents:
(a) Each Pledgor agrees that it 

  
 25 








 
will not knowingly do any act or omit to do any act (and will exercise commercially reasonable efforts to prevent its licensees from doing any act or omitting to do any act) whereby any Patent
that is material to the normal conduct of such Pledgor’s business may become prematurely invalidated, abandoned, lapsed or dedicated to the public, and agrees that it shall take commercially reasonable steps with respect to any material
products covered by any such Patent as necessary and sufficient to establish and preserve its rights under applicable patent laws. 
 (b)
Each Pledgor will, and will use its commercially reasonable efforts to cause its licensees or its sublicensees to, for each material Trademark necessary to the normal conduct of such Pledgor’s business, (i) maintain such Trademark in full
force free from any adjudication of abandonment or invalidity for non-use, (ii) maintain the quality of products and services offered under such Trademark, (iii) display such Trademark with notice of federal or foreign registration or
claim of trademark or service mark as required under applicable law and (iv) not knowingly use or knowingly permit its licensees’ use of such Trademark in violation of any third-party rights. 

(c) Each Pledgor will, and will use its commercially reasonable efforts to cause its licensees or its sublicensees to, for each work covered
by a material Copyright necessary to the normal conduct of such Pledgor’s business that it publishes, displays and distributes, use a copyright notice as provided by applicable copyright laws. 

(d) Each Pledgor shall notify the Applicable Agent promptly if it knows that any Patent, Trademark or Copyright material to the normal conduct
of such Pledgor’s business may imminently become abandoned, lapsed or dedicated to the public, or of any materially adverse determination or development, excluding office actions and similar determinations or developments in the United States
Patent and Trademark Office, United States Copyright Office, any court or any similar office of any country, regarding such Pledgor’s ownership of any such material Patent, Trademark or Copyright or its right to register or to maintain the
same. 
 (e) Each Pledgor, either itself or through any agent, employee, licensee or designee, shall (i) inform the Applicable Agent on
an annual basis of each application by itself, or through any agent, employee, licensee or designee, for any Patent with the United States Patent and Trademark Office and each registration of any Trademark or Copyright with the United States Patent
and Trademark Office, the United States Copyright Office or any comparable office or agency in any other country filed during the preceding twelve-month period, and (ii) upon the reasonable request of the Applicable Agent, execute and deliver
any and all agreements, instruments, documents and papers as the Applicable Agent may reasonably request to evidence the Applicable Agent’s security interest for the ratable benefit of the Secured Parties in such Patent, Trademark or Copyright.

 (f) Each Pledgor shall exercise its reasonable business judgment consistent with the practice in any proceeding before the United States
Patent and Trademark Office, the United States Copyright Office or any comparable office or agency in any other country with respect to maintaining and pursuing each application relating to 

  
 26 








 
any Patent, Trademark and/or Copyright (and obtaining the relevant grant or registration) material to the normal conduct of such Pledgor’s business and to maintain (i) each issued
Patent and (ii) the registrations of each Trademark and each Copyright that is material to the normal conduct of such Pledgor’s business, including, when applicable and necessary in such Pledgor’s reasonable business judgment, timely
filings of applications for renewal, affidavits of use, affidavits of incontestability and payment of maintenance fees, and, if any Pledgor believes necessary in its reasonable business judgment, to initiate opposition, interference and cancellation
proceedings against third parties. 
 (g) In the event that any Pledgor knows or has reason to know that any Article 9 Collateral
consisting of a Patent, Trademark or Copyright material to the normal conduct of its business has been or is about to be materially infringed, misappropriated or diluted by a third party, such Pledgor shall promptly notify the Applicable Agent and
shall, if such Pledgor deems it necessary in its reasonable business judgment, promptly sue and recover any and all damages, and take such other actions as are reasonably appropriate under the circumstances. 

ARTICLE 5 
 REMEDIES

 Section 5.01. Remedies Upon Default. In accordance with, and to the extent consistent with, the terms of the Secured
Notes Intercreditor Agreement, upon the occurrence and during the continuance of an Event of Default, each Pledgor agrees to deliver each item of Collateral to the Collateral Agent on demand, and it is agreed that the Collateral Agent shall have the
right to take any of or all the following actions at the same or different times: (a) with respect to any Article 9 Collateral consisting of Intellectual Property, on demand, to cause the Security Interest to become an assignment, transfer
and conveyance of any of or all such Article 9 Collateral by the applicable Pledgors to the Collateral Agent or to license or sublicense, whether general, special or otherwise, and whether on an exclusive or a nonexclusive basis, any such
Article 9 Collateral throughout the world on such terms and conditions and in such manner as the Collateral Agent shall determine (other than in violation of any then-existing licensing arrangements to the extent that waivers thereunder cannot
be obtained with the use of commercially reasonable efforts, which each Pledgor hereby agrees to use) and (b) with or without legal process and with or without prior notice or demand for performance, to take possession of the Article 9
Collateral and without liability for trespass to the applicable Pledgor to enter any premises where the Article 9 Collateral may be located for the purpose of taking possession of or removing the Article 9 Collateral and, generally, to
exercise any and all rights afforded to a secured party under the applicable Uniform Commercial Code or other applicable law. Without limiting the generality of the foregoing, each Pledgor agrees that the Collateral Agent shall have the right,
subject to the mandatory requirements of applicable law, to sell or otherwise dispose of all or any part of the Collateral at a public or private sale or at any broker’s board or on any securities exchange, for cash, upon credit or for future
delivery as the Collateral Agent shall deem appropriate. The Collateral Agent shall be authorized in connection with any sale of a security (if it deems it advisable to do so) pursuant to the foregoing to restrict the prospective bidders or
purchasers to persons who represent and agree that they are 

  
 27 








 
purchasing such security for their own account, for investment, and not with a view to the distribution or sale thereof. Upon consummation of any such sale of Collateral pursuant to this
Section 5.01 the Collateral Agent shall have the right to assign, transfer and deliver to the purchaser or purchasers thereof the Collateral so sold. Each such purchaser at any such sale shall hold the property sold absolutely, free from any
claim or right on the part of any Pledgor, and each Pledgor hereby waives and releases (to the extent permitted by law) all rights of redemption, stay, valuation and appraisal that such Pledgor now has or may at any time in the future have under any
rule of law or statute now existing or hereafter enacted. 
 The Collateral Agent shall, except in the case of Collateral that is
perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, give the applicable Pledgors 10 Business Days’ written notice (which each Pledgor agrees is reasonable notice within the meaning of
Section 9-611 of the New York UCC or its equivalent in other jurisdictions) of the Collateral Agent’s intention to make any sale of Collateral. Such notice, in the case of a public sale, shall state the time and place for such sale and, in
the case of a sale at a broker’s board or on a securities exchange, shall state the board or exchange at which such sale is to be made and the day on which the Collateral, or portion thereof, will first be offered for sale at such board or
exchange. Any such public sale shall be held at such time or times within ordinary business hours and at such place or places as the Collateral Agent may fix and state in the notice (if any) of such sale. At any such sale, the Collateral, or the
portion thereof, to be sold may be sold in one lot as an entirety or in separate parcels, as the Collateral Agent may (in its sole and absolute discretion) determine. The Collateral Agent shall not be obligated to make any sale of any Collateral if
it shall determine not to do so, regardless of the fact that notice of sale of such Collateral shall have been given. The Collateral Agent may, without notice or publication, adjourn any public or private sale or cause the same to be adjourned from
time to time by announcement at the time and place fixed for sale, and such sale may, without further notice, be made at the time and place to which the same was so adjourned. In the case of any sale of all or any part of the Collateral made on
credit or for future delivery, the Collateral so sold may be retained by the Collateral Agent until the sale price is paid by the purchaser or purchasers thereof, but the Collateral Agent shall not incur any liability in the event that any such
purchaser or purchasers shall fail to take up and pay for the Collateral so sold and, in the case of any such failure, such Collateral may be sold again upon notice given in accordance with provisions above. At any public (or, to the extent
permitted by law, private) sale made pursuant to this Section 5.01, any Secured Party may bid for or purchase for cash, free (to the extent permitted by law) from any right of redemption, stay, valuation or appraisal on the part of any Pledgor
(all such rights being also hereby waived and released to the extent permitted by law), the Collateral or any part thereof offered for sale and such Secured Party may, upon compliance with the terms of sale, hold, retain and dispose of such property
in accordance with Section 5.02 hereof without further accountability to any Pledgor therefor. For purposes hereof, a written agreement to purchase the Collateral or any portion thereof shall be treated as a sale thereof; the Collateral Agent
shall be free to carry out such sale pursuant to such agreement and no Pledgor shall be entitled to the return of the Collateral or any portion thereof subject thereto, notwithstanding the fact that after the Collateral Agent shall have entered into
such an agreement all Events of Default shall 

  
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have been remedied and the Obligations paid in full. As an alternative to exercising the power of sale herein conferred upon it, the Collateral Agent may proceed by a suit or suits at law or in
equity to foreclose this Agreement and to sell the Collateral or any portion thereof pursuant to a judgment or decree of a court or courts having competent jurisdiction or pursuant to a proceeding by a court-appointed receiver. Any sale pursuant to
the provisions of this Section 5.01 shall be deemed to conform to the commercially reasonable standards as provided in Section 9-610(b) of the New York UCC or its equivalent in other jurisdictions. 

Section 5.02. Application of Proceeds. 

In accordance with, and to the extent consistent with, the terms of the Secured Notes Intercreditor Agreement, the Collateral Agent shall
promptly apply the proceeds, moneys or balances of any collection or sale of Collateral, as well as any Collateral consisting of cash, as follows: 

FIRST, to the payment of all costs and expenses incurred by the Collateral Agent in connection with such collection or sale or
otherwise in connection with this Agreement, any Note Document or any of the Obligations, including without limitation all court costs and the fees and expenses of agents and legal counsel for the Collateral Agent, the repayment of all advances made
by the Collateral Agent hereunder or under any Note Document on behalf of any Pledgor, any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Note Document, and all other fees,
indemnities and other amounts owing or reimbursable to the Collateral Agent under any Note Document or any Security Document in its capacity as such; 

SECOND, to interest in respect of the Obligations which such Collateral secures; 

THIRD, to the principal of the Obligations which such Collateral secures; and 

FOURTH, to the Pledgors, their successors or assigns, or as a court of competent jurisdiction may otherwise direct. 

The Collateral Agent shall have absolute discretion as to the time of application of any such proceeds, moneys or balances in accordance with this Agreement.
Upon any sale of Collateral by the Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the purchase money by the Collateral Agent or of the officer making the sale shall be a
sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Collateral Agent or such officer or be
answerable in any way for the misapplication thereof. 

  
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 Section 5.03. Securities Act, Etc. In view of the position of the Pledgors in
relation to the Pledged Collateral, or because of other current or future circumstances, a question may arise under the Securities Act of 1933, as now or hereafter in effect, or any similar federal statute hereafter enacted analogous in purpose or
effect (such Act and any such similar statute as from time to time in effect being called the “Federal Securities Laws”) with respect to any disposition of the Pledged Collateral permitted hereunder. Each Pledgor understands that
compliance with the Federal Securities Laws might very strictly limit the course of conduct of the Collateral Agent if the Collateral Agent were to attempt to dispose of all or any part of the Pledged Collateral, and might also limit the extent to
which or the manner in which any subsequent transferee of any Pledged Collateral could dispose of the same. Similarly, there may be other legal restrictions or limitations affecting the Collateral Agent in any attempt to dispose of all or part of
the Pledged Collateral under applicable Blue Sky or other state securities laws or similar laws analogous in purpose or effect. Each Pledgor acknowledges and agrees that in light of such restrictions and limitations, the Collateral Agent, in its
sole and absolute discretion, (a) may proceed to make such a sale whether or not a registration statement for the purpose of registering such Pledged Collateral or part thereof shall have been filed under the Federal Securities Laws or, to the
extent applicable, Blue Sky or other state securities laws and (b) may approach and negotiate with a single potential purchaser to effect such sale. Each Pledgor acknowledges and agrees that any such sale might result in prices and other terms
less favorable to the seller than if such sale were a public sale without such restrictions. In the event of any such sale, the Collateral Agent shall incur no responsibility or liability for selling all or any part of the Pledged Collateral at a
price that the Collateral Agent, in its sole and absolute discretion, may in good faith deem reasonable under the circumstances, notwithstanding the possibility that a substantially higher price might have been realized if the sale were deferred
until after registration as aforesaid or if more than a single purchaser were approached. The provisions of this Section 5.03 will apply notwithstanding the existence of a public or private market upon which the quotations or sales prices may
exceed substantially the price at which the Collateral Agent sells. 
 ARTICLE 6 

RESERVED 
 ARTICLE 7

 MISCELLANEOUS 

Section 7.01. Notices. All communications and notices hereunder (including communications and notices to the Collateral Agent)
shall (except as otherwise permitted or provided herein) be in writing and given as provided in Section 13.02 of the Indenture. All communications and notices hereunder to any Subsidiary Party shall be given to it in care of the Company, with
such notice to be given as provided in Section 13.02 of the Indenture. Any such notice and other communication shall be deemed to be given or made at such time as set forth in the Indenture. Any party hereto may change its notice details by
notice to the other parties hereto. 

  
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 Section 7.02. Security Interest Absolute. All rights of the Collateral Agent
hereunder, the Security Interest in the Article 9 Collateral, the security interest in the Pledged Collateral and all obligations of each Pledgor hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or
enforceability of any Note Document, any agreement with respect to any of the Obligations or any other agreement or instrument relating to any of the foregoing, (b) any change in the time, manner or place of payment of, or in any other term of,
all or any of the Obligations, or any other amendment or waiver of or any consent to any departure from any Note Document or any other agreement or instrument, (c) any exchange, release or non-perfection of any Lien on other collateral, or any
release or amendment or waiver of or consent under or departure from any guarantee, securing or guaranteeing all or any of the Obligations or (d) any other circumstance that might otherwise constitute a defense available to, or a discharge of,
any Pledgor in respect of the Obligations or this Agreement (other than a defense of payment or performance). 
 Section 7.03.
Limitation by Law. All rights, remedies and powers provided in this Agreement may be exercised only to the extent that the exercise thereof does not violate any applicable provision of law, and all the provisions of this Agreement are
intended to be subject to all applicable mandatory provisions of law that may be controlling and to be limited to the extent necessary so that they shall not render this Agreement invalid, unenforceable, in whole or in part, or not entitled to be
recorded, registered or filed under the provisions of any applicable law. 
 Section 7.04. Binding Effect; Several Agreement.
This Agreement shall become effective as to any party to this Agreement when a counterpart hereof executed on behalf of such party shall have been delivered to the Collateral Agent and a counterpart hereof shall have been executed on behalf of the
Collateral Agent, and thereafter shall be binding upon such party and the Collateral Agent and their respective permitted successors and assigns, and shall inure to the benefit of such party, the Collateral Agent and the other Secured Parties and
their respective permitted successors and assigns, except that no party shall have the right to assign or transfer its rights or obligations hereunder or any interest herein or in the Collateral (and any such assignment or transfer shall be void)
except as expressly contemplated by this Agreement or the Note Documents. This Agreement shall be construed as a separate agreement with respect to each party and may be amended, modified, supplemented, waived or released with respect to any party
without the approval of any other party and without affecting the obligations of any other party hereunder. 
 Section 7.05.
Successors and Assigns. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on
behalf of any Pledgor or the Collateral Agent that are contained in this Agreement shall bind and inure to the benefit of their respective permitted successors and assigns; provided that no Pledgor may assign, transfer or delegate any of its
rights or obligations under this Agreement without the prior written consent of the Collateral Agent, except as permitted by the Indenture. The Collateral Agent hereunder shall at all times be the same person that is the Collateral Agent under the
Indenture. Written notice of resignation by 

  
 31 








 
the Collateral Agent as trustee pursuant to the Indenture shall also constitute notice of resignation as the Collateral Agent under this Agreement. Upon the acceptance of any appointment as the
trustee under the Indenture by a successor Collateral Agent, that successor trustee shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent pursuant hereto. 

Section 7.06. Collateral Agent’s Fees and Expenses; Indemnification 

(a) In accordance with, and to the extent consistent with, the terms of the Secured Notes Intercreditor Agreement, each Pledgor jointly and
severally agrees to pay upon demand to the Collateral Agent the amount of any and all reasonable expenses, including the reasonable fees, disbursements and other charges of its counsel and of any experts or agents, which the Collateral Agent may
incur in connection with (i) the administration of this Agreement, (ii) the custody or preservation of, or the sale of, collection from or other realization upon any of the Collateral, (iii) the exercise, enforcement or protection of
any rights of the Collateral Agent hereunder or (iv) the failure of any Pledgor to perform or observe any of the provisions hereof applicable to it. 

(b) Without limitation of its indemnification obligations under the other Note Documents, each Pledgor jointly and severally agrees to
indemnify the Collateral Agent, the Trustee, and each Affiliate of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and
related expenses, including reasonable counsel fees, charges and disbursements, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of, (i) the execution, delivery or performance of this Agreement
or any other Note Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto and thereto of their respective obligations thereunder or the consummation of the transactions contemplated hereby,
(ii) the use of proceeds of Notes or other Obligations or (iii) any claim, litigation, investigation or proceeding relating to any of the foregoing, or to the Collateral, whether or not any Indemnitee is a party thereto; provided
that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have
resulted from the gross negligence or willful misconduct of such Indemnitee. 
 (c) Any such amounts payable as provided hereunder shall be
additional Obligations secured hereby and by the other Note Documents. Notwithstanding anything to the contrary in this Agreement, the provisions of this Section 7.06 shall remain operative and in full force and effect regardless of the
termination of this Agreement or any other Note Document, the consummation of the transactions contemplated hereby, the repayment of any of the Obligations, the invalidity or unenforceability of any term or provision of this Agreement or any other
Note Document, or any investigation made by or on behalf of the Collateral Agent or any other Secured Party. All amounts due under this Section 7.06 shall be payable on written demand therefor. 

  
 32 








 Section 7.07. Collateral Agent Appointed Attorney-in-Fact. In accordance with, and to
the extent consistent with, the terms of the Secured Notes Intercreditor Agreement, each Pledgor hereby appoints the Collateral Agent the attorney-in-fact of such Pledgor for the purpose of carrying out the provisions of this Agreement and taking
any action and executing any instrument that the Collateral Agent may deem necessary or advisable to accomplish the purposes hereof, which appointment is irrevocable and coupled with an interest. The Collateral Agent shall have the right, upon the
occurrence and during the continuance of an Event of Default, with full power of substitution either in the Collateral Agent’s name or in the name of such Pledgor, (a) to receive, endorse, assign or deliver any and all notes, acceptances,
checks, drafts, money orders or other evidences of payment relating to the Collateral or any part thereof, (b) to demand, collect, receive payment of, give receipt for and give discharges and releases of all or any of the Collateral;
(c) to ask for, demand, sue for, collect, receive and give acquittance for any and all moneys due or to become due under and by virtue of any Collateral; (d) to sign the name of any Pledgor on any invoice or bill of lading relating to any
of the Collateral; (e) to send verifications of Accounts to any Account Debtor; (f) to commence and prosecute any and all suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect or otherwise
realize on all or any of the Collateral or to enforce any rights in respect of any Collateral; (g) to settle, compromise, compound, adjust or defend any actions, suits or proceedings relating to all or any of the Collateral; (h) to notify,
or to require any Pledgor to notify, Account Debtors to make payment directly to the Collateral Agent; and (i) to use, sell, assign, transfer, pledge, make any agreement with respect to or otherwise deal with all or any of the Collateral, and
to do all other acts and things necessary to carry out the purposes of this Agreement, as fully and completely as though the Collateral Agent were the absolute owner of the Collateral for all purposes; provided that nothing herein contained
shall be construed as requiring or obligating the Collateral Agent to make any commitment or to make any inquiry as to the nature or sufficiency of any payment received by the Collateral Agent, or to present or file any claim or notice, or to take
any action with respect to the Collateral or any part thereof or the moneys due or to become due in respect thereof or any property covered thereby. The Collateral Agent and the other Secured Parties shall be accountable only for amounts actually
received as a result of the exercise of the powers granted to them herein, and neither they nor their officers, directors, employees or agents shall be responsible to any Pledgor for any act or failure to act hereunder, except for their own gross
negligence or willful misconduct. 
 Section 7.08. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES UNDER THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 

Section 7.09. Waivers; Amendment. (a) No failure or delay by the Collateral Agent, or any Secured Party in exercising any
right, power or remedy hereunder or under any other Note Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy, or any abandonment or discontinuance of steps to enforce such a right,
power or remedy, preclude any other or further exercise thereof or the exercise of any other right, power or remedy. The rights, powers and 

  
 33 








 
remedies of the Collateral Agent and the Secured Parties hereunder and under the other Note Documents are cumulative and are not exclusive of any rights, powers or remedies that they would
otherwise have. No waiver of any provision of this Agreement or consent to any departure by any Secured Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section 7.09, and then such
waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice or demand on any Pledgor in any case shall entitle any Pledgor to any other or further notice or demand in similar or other
circumstances. 
 (b) Neither this Agreement, the Secured Notes Intercreditor Agreement, any of the other Note Documents or any provision of
any of the foregoing may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Collateral Agent and the Pledgor or Pledgors with respect to which such waiver, amendment or modification is to
apply, subject to the limitations in the Secured Notes Intercreditor Agreement or as otherwise provided in the Secured Notes Intercreditor Agreement. 

Section 7.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW,
ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER SECURITY DOCUMENT. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE,
AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN
INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 7.10. 

Section 7.11. Severability. In the event any one or more of the provisions contained in this Agreement or in any other Security
Document 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. 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. 

Section 7.12. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall constitute an original
but all of which when taken together shall constitute but one contract, and shall become effective as provided in Section 7.04 hereof. Delivery of an executed counterpart to this Agreement by facsimile transmission shall be as effective as
delivery of a manually signed original. 

  
 34 








 Section 7.13. Headings. Article and Section headings and the Table of
Contents used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

Section 7.14. Jurisdiction; Consent to Service Of Process. (a) Each party to this Agreement hereby irrevocably and
unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of any New York State court or federal court of the United States of America sitting in New York City, and any appellate court from any thereof, in any action or
proceeding arising out of or relating to this Agreement or any other Security Documents, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of
any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive
and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that the Collateral Agent, or any Secured Party may otherwise have to bring any action or
proceeding relating to this Agreement or any other Note Documents or Security Documents against any Pledgor, or its properties, in the courts of any jurisdiction. 

(b) Each party to this Agreement hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so,
any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Note Documents in any New York State or federal court. Each of the parties hereto
hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

Section 7.15. Termination or Release. (a) This Agreement, the pledges made herein, the Security Interest and all other
security interests granted hereby shall terminate when all the Obligations (other than contingent indemnity or expense reimbursement obligations in respect of which no claim has been made) have been defeased in accordance with its terms and any
other requirements set forth in the Note Documents then effective are satisfied. 
 (b) The Liens securing the Note Obligations will be
released in whole or in part, as provided in Section 11.04 of the Indenture. 
 (c) A Subsidiary Party shall automatically be released
from its obligations hereunder and the security interests in the Collateral of such Subsidiary Party shall be automatically released if such Subsidiary Party is released from its guarantee pursuant to Section 12.02(b) of the Indenture. 

(d) Upon any sale or other transfer by any Pledgor of any Collateral that is permitted under the Note Documents, or upon the effectiveness of
any written consent to the release of the security interest granted hereby in any Collateral pursuant to the Note Documents, the security interest in such Collateral shall be automatically released. 

  
 35 








 (e) In connection with any termination or release pursuant to paragraph (a), (b), (c) or
(d) of this Section 7.15, the Collateral Agent shall execute and deliver to any Pledgor, at such Pledgor’s expense, all documents that such Pledgor shall reasonably request to evidence such termination or release and will duly assign
and transfer to such Pledgor such of the Pledged Collateral that may be in the possession of the Collateral Agent and has not theretofore been sold or otherwise applied or released pursuant to this Agreement; provided, that the Collateral
Agent shall not be required to take any action under this Section 7.15(e) unless such Pledgor shall have delivered to the Collateral Agent together with such request, which may be incorporated into such request, an Officers’
Certificate of the Company or such Pledgor certifying that the transaction giving rise to such termination or release is permitted by the Note Documents and was consummated in compliance with the Note Documents. Any execution and delivery of
documents pursuant to this Section 7.15 shall be without recourse to or warranty by the Collateral Agent. In connection with any termination or release pursuant to paragraph (a), (b), (c) or (d) above, the Pledgors shall be permitted
to take any action in connection therewith consistent with such release including, without limitation, the filing of UCC termination statements. 

Section 7.16. Additional Subsidiaries. Upon execution and delivery by the Collateral Agent and any Subsidiary that is required to
become a party hereto by any Note Document of an instrument in the form of Exhibit I hereto, such Subsidiary shall become a Subsidiary Party hereunder with the same force and effect as if originally named as a Subsidiary Party herein. The execution
and delivery of any such instrument shall not require the consent of any other party to this Agreement. The rights and obligations of each party to this Agreement shall remain in full force and effect notwithstanding the addition of any new party to
this Agreement. 
 Section 7.17. Right of Set-off. If an Event of Default shall have occurred and be continuing, each Secured
Party is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set-off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any
time owing by such Secured Party to or for the credit or the account of any party to this Agreement against any of and all the obligations of such party now or hereafter existing under this Agreement owed to such Secured Party, irrespective of
whether or not Secured Party shall have made any demand under this Agreement and although such obligations may be unmatured. The rights of each Secured Party under this Section 7.17 are in addition to other rights and remedies (including other
rights of set-off) that such Secured Party may have. 
 Section 7.18. Intercreditor Agreements. Notwithstanding anything herein
to the contrary, (i) the liens and security interests granted to the Collateral Agent pursuant to this Agreement are expressly subject and subordinate to the liens and security interests granted to the Senior Priority Agents (as defined in the
Secured Notes Intercreditor Agreement) or any agent or trustee for any other Senior Lenders, and (ii) the exercise of 

  
 36 








 
any right or remedy by the Collateral Agent hereunder or the application of proceeds (including insurance proceeds and condemnation proceeds) of any Collateral are subject to the limitations and
provisions of the Secured Notes Intercreditor Agreement. In the event of any conflict between the terms of the Secured Notes Intercreditor Agreement and the terms of this Agreement, the terms of the Secured Notes Intercreditor Agreement shall
govern. 
 Section 7.19. Other Senior Documents. The Collateral Agent acknowledges and agrees, on behalf of itself and any
Secured Party, that any provision of this Agreement to the contrary notwithstanding, until the First Lien Termination Date, the Pledgors shall not be required to act or refrain from acting pursuant to the Security Documents or with respect to any
Collateral on which the Applicable Agent or any other Senior Priority Agent has a Lien superior in priority to the Collateral Agent’s Lien thereon in any manner that would result in a default under the terms and provisions of the Senior Lender
Documents. 
 Section 7.20. Other Pari Passu Obligations. On or after the date hereof and so long as the obligations are
permitted to be incurred under the Note Documents and are not prohibited by any Other Pari Passu Documents then in effect, the Company may from time to time designate obligations in respect of Indebtedness to be secured on a pari passu basis with
the Obligations as Other Pari Passu Obligations hereunder and under the other Security Documents by delivering to the Collateral Agent, Trustee and each other Authorized Representative (a) a certificate signed by an Authorized Officer of the
Company (i) identifying the obligations so designated and the initial aggregate principal amount or face amount thereof, (ii) stating that such obligations are designated as Other Pari Passu Obligations for purposes hereof and of the other
Security Documents, (iii) representing that such designation of such obligations as Other Pari Passu Obligations complies with the terms of the Indenture and any Other Pari Passu Document then in effect, (iv) specifying the name and
address of the Authorized Representative for such obligations and (v) identifying the documents to be designated as the related Other Pari Passu Obligations Documents and (b) a fully executed Other Pari Passu Obligations Secured Party
Joinder Agreement. The Collateral Agent, Trustee and each Authorized Representative agree that upon the satisfaction of all conditions set forth in the preceding sentence, the Collateral Agent shall act as agent under and subject to the terms of the
Security Documents for the benefit of all Secured Parties, including without limitation, any Secured Parties that hold any such Other Pari Passu Obligations, and the Collateral Agent and each Authorized Representative agree to the appointment, and
acceptance of the appointment, of the Collateral Agent as agent for the holders of such Other Pari Passu Obligations as set forth in each Other Pari Passu Obligations Secured Party Joinder Agreement and agree, on behalf of itself and each Secured
Party it represents, to be bound by this Agreement, the other Security Documents, and the Secured Notes Intercreditor Agreement. 

Section 7.21. Amendment and Restatement. On the Amendment and Restatement Date, following the execution and delivery hereof by the
parties hereto, without further action by any of the parties to the Original Collateral Agreement, the Original Collateral Agreement will be automatically amended and restated to read as this Agreement reads. On and after the Amendment and
Restatement Date, the rights and obligations of the parties hereto shall be governed by the provisions hereof. 
 [Signature Page Follows]


  
 37 








 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year
first above written. 
  

					
	VERSO PAPER HOLDINGS LLC
	 VERSO PAPER INC.
 VERSO PAPER
LLC
 VERSO ANDROSCOGGIN LLC

	 VERSO BUCKSPORT LLC
 VERSO FIBER
FARM LLC
 VERSO MAINE ENERGY LLC

	 VERSO QUINNESEC LLC
 VERSO SARTELL
LLC

	VERSO QUINNESEC REP HOLDING INC.
	NEXTIER SOLUTIONS CORPORATION
		
	By:	 	 /s/ Robert P. Mundy

		 	Name:	 	Robert P. Mundy
		 	Title:	 	Senior Vice President and Chief Financial Officer



  
 [Signature Page to
Amended & Restated 1.5 Lien Notes Collateral Agreement] 








 
					
	 WILMINGTON TRUST, NATIONAL ASSOCIATION, as Collateral Agent

		
	By:	 	 /s/ Jane Schweiger

		 	Name:	 	Jane Schweiger
		 	Title:	 	Vice President



  
 [Signature Page to
Amended & Restated 1.5 Lien Notes Collateral Agreement] 








 SCHEDULE I 

SUBSIDIARY PARTIES 
  

					
	 Legal Name
	  	 Type of Entity
	  	 Jurisdiction of Organization

	Verso Paper LLC	  	Limited Liability Company	  	Delaware
	Verso Androscoggin LLC	  	Limited Liability Company	  	Delaware
	Verso Bucksport LLC	  	Limited Liability Company	  	Delaware
	Verso Fiber Farm LLC	  	Limited Liability Company	  	Delaware
	Verso Maine Energy LLC	  	Limited Liability Company	  	Delaware
	Verso Quinnesec LLC	  	Limited Liability Company	  	Delaware
	Verso Sartell LLC	  	Limited Liability Company	  	Delaware
	Verso Quinnesec REP Holding Inc.	  	Corporation	  	Delaware
	nexTier Solutions Corporation	  	Corporation	  	California


  
 I-1 








 SCHEDULE II 

EQUITY 
  

											
	 Issuer
	  	 Registered Owner
	  	 Number and Class of

Equity Interest
	  	Percentage
of Equity
Interests	 	 	Certificate
Number
	 Verso Paper Holdings LLC
	  	 Verso Paper Finance Holdings LLC
	  	 LLC interest
	  	 	100	% 	 	N/A
	 Verso Paper LLC
	  	 Verso Paper Holdings LLC
	  	 LLC interest
	  	 	100	% 	 	N/A
	 Verso Paper Inc.
	  	 Verso Paper Holdings LLC
	  	 1,000 shares of common stock
	  	 	100	% 	 	1
	 Verso Androscoggin LLC
	  	 Verso Paper LLC
	  	 LLC interest
	  	 	100	% 	 	N/A
	 Verso Bucksport LLC
	  	 Verso Paper LLC
	  	 LLC interest
	  	 	100	% 	 	N/A
	 Bucksport Leasing LLC
	  	 Verso Paper LLC
	  	 LLC interest
	  	 	100	% 	 	N/A
	 Verso Maine Energy LLC
	  	 Verso Paper LLC
	  	 LLC interest
	  	 	100	% 	 	N/A
	 Verso Maine Power Holdings LLC
	  	 Verso Paper LLC
	  	 LLC interest
	  	 	100	% 	 	N/A
	 Verso Quinnesec REP Holding Inc.
	  	 Verso Paper LLC
	  	 1,000 shares of common stock
	  	 	100	% 	 	1
	 Verso Quinnesec LLC
	  	 Verso Paper LLC
	  	 LLC interest
	  	 	99.9	% 	 	N/A
	  	 Verso Quinnesec REP Holding Inc.
	  	 LLC interest
	  	 	0.1	% 	 	N/A
	 Verso Quinnesec REP LLC
	  	 Verso Quinnesec LLC
	  	 LLC interest
	  	 	100	% 	 	N/A
	 Verso Sartell LLC
	  	 Verso Paper LLC
	  	 LLC interest
	  	 	100	% 	 	N/A
	 Verso Fiber Farm LLC
	  	 Verso Paper LLC
	  	 LLC interest
	  	 	100	% 	 	N/A
	 nexTier Solutions Corporation
	  	 Verso Paper LLC
	  	 1,000 shares of common stock
	  	 	100	% 	 	20

 DEBT SECURITIES 
  

	1.	Approximately $77 million Demand Note No. 1, dated August 1, 2006, issued by Verso Androscoggin LLC to Verso Paper Holdings LLC. 


 

	2.	Approximately $108 million Demand Note No. 2, dated August 1, 2006, issued by Verso Androscoggin LLC to Verso Paper Holdings LLC. 


 

	3.	Approximately $92 million Demand Note No. 3, dated August 1, 2006, issued by Verso Androscoggin LLC to Verso Paper Holdings LLC. 


 

	4.	Approximately $88 million Demand Note No. 4, dated August 1, 2006, issued by Verso Androscoggin LLC to Verso Paper Holdings LLC. 


 

	5.	Approximately $53 million Demand Note No. 1, dated August 1, 2006, issued by Verso Bucksport LLC to Verso Paper Holdings LLC. 


 

	6.	Approximately $74 million Demand Note No. 2, dated August 1, 2006, issued by Verso Bucksport LLC to Verso Paper Holdings LLC. 


 

	7.	Approximately $63 million Demand Note No. 3, dated August 1, 2006, issued by Verso Bucksport LLC to Verso Paper Holdings LLC. 


 

	8.	Approximately $60 million Demand Note No. 4, dated August 1, 2006, issued by Verso Bucksport LLC to Verso Paper Holdings LLC. 


  
 I-2 









	9.	Approximately $77 million Demand Note No. 1, dated August 1, 2006, issued by Verso Quinnesec LLC to Verso Paper Holdings LLC. 


 

	10.	Approximately $108 million Demand Note No. 2, dated August 1, 2006, issued by Verso Quinnesec LLC to Verso Paper Holdings LLC. 


 

	11.	Approximately $93 million Demand Note No. 3, dated August 1, 2006, issued by Verso Quinnesec LLC to Verso Paper Holdings LLC. 


 

	12.	Approximately $88 million Demand Note No. 4, dated August 1, 2006, issued by Verso Quinnesec LLC to Verso Paper Holdings LLC. 


 

	13.	Approximately $29 million Demand Note No. 1, dated August 1, 2006, issued by Verso Sartell LLC to Verso Paper Holdings LLC. 


 

	14.	Approximately $41 million Demand Note No. 2, dated August 1, 2006, issued by Verso Sartell LLC to Verso Paper Holdings LLC. 


 

	15.	Approximately $35 million Demand Note No. 3, dated August 1, 2006, issued by Verso Sartell LLC to Verso Paper Holdings LLC. 


 

	16.	Approximately $33 million Demand Note No. 4, dated August 1, 2006, issued by Verso Sartell LLC to Verso Paper Holdings LLC. 


  
 I-3 








 SCHEDULE III 

INTELLECTUAL PROPERTY 
 Copyrights 

 

			
	Publication	  	EZ-Suite Computer Program
	Owner	  	Verso Paper LLC
	USA	  	Copyright No. TXuI-043-100 issued on June 25, 2002

 Patents 
  

					
	1.	 	Patent	  	Elimination of alum yellowing of aspen thermomechanical pulp through pulp washing
		 	Owner	  	Verso Paper LLC
		 	USA	  	Patent No. 7,018,509 issued on March 28, 2006
			
	2.	 	Patent	  	Multi-party, multi-tier system for managing paper purchase and distribution
		 	Owner	  	Verso Paper LLC
		 	Brazil	  	Application No. PI0313537-3 filed on July 15, 2003
		 	Canada	  	Application No. 2494414 filed on July 15, 2003
		 	USA	  	Patent No. 8,260,672 issued on September 4, 2012
		 	USA	  	Application No. 14/100,520 filed on December 9, 2013
		 	USA	  	Patent No. 8,630,910 issued on January 14, 2014
			
	3.	 	Patent	  	Process for producing super high bulk, light weight coated papers
		 	Owner	  	Verso Paper LLC
		 	Austria	  	Patent No. E366338 issued on October 16, 2007
		 	Belgium	  	Patent No. 1565614 issued on October 4, 2007
		 	Canada	  	Patent No. 2503966 filed on October 18, 2011
		 	Finland	  	Patent No. 1565614 issued on October 3, 2007
		 	Germany	  	Patent No. 1565614 issued on October 2, 2007
		 	Great Britain	  	Patent No. 1565614 issued on September 20, 2007
		 	Italy	  	Patent No. 72236BE/2007 issued on September 28, 2007
		 	Netherlands	  	Patent No. 1565614 issued on October 4, 2007
		 	Sweden	  	Patent No. 1565614 issued on October 3, 2007
			
	4.	 	Patent	  	Quality control apparatus and method for paper mill
		 	Owner	  	Verso Paper LLC
		 	USA	  	Patent No. 6,024,835 issued on February 15, 2000
			
	5.	 	Patent	  	System and method for print analysis
		 	Owner	  	Verso Paper LLC
		 	USA	  	Patent No. 6,504,625 issued on January 7, 2003
			
	6.	 	Patent	  	Using a metered size press to produce lightweight coated rotogravure paper
		 	Owner	  	Verso Paper LLC
		 	Austria	  	Patent No. E355412 issued on February 28, 2007
		 	Belgium	  	Patent No. 1623068 issued on February 28, 2007
		 	Finland	  	Patent No. 1623068 issued on February 28, 2007
		 	Germany	  	Patent No. 602004005024.5 issued on February 28, 2007
		 	Great Britain	  	Patent No. 1623068 issued on February 28, 2007
		 	Italy	  	Patent No. 70020BE/2007 issued on February 28, 2007
		 	Netherlands	  	Patent No. 1623068 issued on February 28, 2007
		 	Sweden	  	Patent No. 1623068 issued on February 28, 2007


  
 I-4 








 Trademarks 
  

					
	1.	 	Mark	  	Advocate
		 	Type	  	Trademark
		 	Use	  	Rolls of coated and uncoated paper sold to commercial printers and publishers for use in commercial printing of magazines, catalogs, books and other publications
		 	Owner	  	Verso Paper LLC
		 	USA	  	Registration No. 2,703,228 issued on April 1, 2003
			
	2.	 	Mark	  	EZ-Control
		 	Type	  	Service mark
		 	Use	  	Providing on-line non-downloadable software for collaboratively managing procurement, production planning and inventory control in the supply chain for the publication, catalog, print and related paper industries
		 	Owner	  	Verso Paper LLC
		 	USA	  	Registration No. 4,171,353 issued on July 10, 2012
			
	3.	 	Mark	  	EZ-Printer
		 	Type	  	Service mark
		 	Use	  	Providing on-line non-downloadable software for collaboratively managing procurement, production planning and inventory control in the supply chain for the publication, catalog, print and related paper industries
		 	Owner	  	Verso Paper LLC
		 	USA	  	Registration No. 4,171,354 issued on July 10, 2012
			
	4.	 	Mark	  	EZ-Suite
		 	Type	  	Service mark
		 	Use	  	On-line web based business management services, namely, collaboratively managing supply chain interactions between paper suppliers, publishers and printers for others
		 	Owner	  	Verso Paper LLC
		 	USA	  	Registration No. 3,030,600 issued on December 13, 2005
			
	5.	 	Mark	  	EZ-Supplier
		 	Type	  	Service mark
		 	Use	  	Providing on-line non-downloadable software for collaboratively managing procurement, production planning and inventory control in the supply chain for the publication, catalog, print and related paper industries
		 	Owner	  	Verso Paper LLC
		 	USA	  	Registration No. 4,171,355 issued on July 10, 2012
			
	6.	 	Mark	  	Influence
		 	Type	  	Trademark
		 	Use	  	Printing and publication paper
		 	Owner	  	Verso Paper LLC
		 	USA	  	Registration No. 1,542,526 issued on June 6, 1989
			
	7.	 	Mark	  	Influence Soft-Gloss
		 	Type	  	Trademark
		 	Use	  	Printing, writing, publication, cover and copy paper
		 	Owner	  	Verso Paper LLC
		 	USA	  	Registration No. 2,331,367 issued on March 21, 2000


  
 I-5 









					
	8.	 	Mark	  	Liberty
		 	Type	  	Trademark
		 	Use	  	Rolls of coated paper for commercial printing sold to catalogers, magazine publishers, distributors and commercial printers
		 	Owner	  	Verso Paper LLC
		 	USA	  	Registration No. 3,051,555 issued on January 24, 2006
			
	9.	 	Mark	  	Nextier
		 	Type	  	Service mark
		 	Use	  	Business management services, namely, providing web-based, business-to-business supply chain management services for others in the areas of catalog, magazine, publication and related paper products industries
		 	Owner	  	Verso Paper LLC
		 	USA	  	Registration No. 4,212,921 issued on September 25, 2012
			
	10.	 	Mark	  	Nextier Solutions
		 	Type	  	Service mark
		 	Use	  	Business management services, namely, providing web-based, business-to-business supply chain management services for others in the areas of catalog, magazine, publication and related paper products
		 	Owner	  	Verso Paper LLC
		 	USA	  	Registration No. 4,224,530 issued on October 16, 2012
			
	11.	 	Mark	  	NXTR (and design)
		 	Type	  	Service mark
		 	Use	  	Business management services, namely, providing web-based, business-to-business supply chain management services for others in the areas of catalog, magazine, publication and related paper products
		 	Owner	  	Verso Paper LLC
		 	USA	  	Registration No. 4,212,936 issued on September 25, 2012
			
	12.	 	Mark	  	Quinnesec
		 	Type	  	Trademark
		 	Use	  	Wood pulp
		 	Owner	  	Verso Paper LLC
		 	USA	  	Registration No. 1,232,416 issued on March 29, 1983
			
	13.	 	Mark	  	Velocity
		 	Type	  	Trademark
		 	Use	  	Rolls of coated and/or uncoated paper for use in commercial printing
		 	Owner	  	Verso Paper LLC
		 	USA	  	Registration No. 2,576,468 issued on June 4, 2002
			
	14.	 	Mark	  	Verso
		 	Type	  	Trademark
		 	Use	  	Coated paper; supercalendered paper; specialty paper for use in print media and print marketing, such as catalogs, magazines, inserts, commercial print, direct mail advertising, advertising brochures, and annual reports; kraft pulp
for manufacturing purposes
		 	Owner	  	Verso Paper LLC
		 	USA	  	Registration No. 3,446,920 issued on June 10, 2008
			
	15.	 	Mark	  	Verso Paper
		 	Type	  	Trademark
		 	Use	  	Coated paper; supercalendered paper; specialty paper for use in print media and print marketing, such as catalogs, magazines, inserts, commercial print, direct mail advertising, advertising brochures, and annual reports
		 	Owner	  	Verso Paper LLC
		 	USA	  	Registration No. 3,428,676 issued on May 13, 2008


  
 I-6 








 IP Agreements 
  

	1.	Intellectual Property Agreement between International Paper Company and Verso Paper LLC, effective as of August 1, 2006. 

  

	2.	Intellectual Property Agreement between International Paper Company and Verso Fiber Farm LLC, effective as of August 1, 2006. 

  

	3.	Letter agreement between International Paper Company and Martha Stewart Living Omnimedia, Inc. granting International Paper Company a royalty-free license to manufacture and sell coated papers under the names
“Martha Gloss Offset” and “Martha Gloss Gravure” dated April 1, 2003. 

  

	4.	Application Service Provider and Software License Agreement For EZ-Printer Services and Software between Brown Printing Company and Nextier, dated Sept. 20, 2002. 


 

	5.	Application Service Provider and Software License Agreement For EZ- Printer Services and Software between Conley Printing and Nextier, dated Dec. 28, 2005. 


 

	6.	Application Service Provider and Software License Agreement For EZ- Printer Services and Software between JCM Print Services and Nextier, dated May 3, 2004. 


 

	7.	Application Service Provider and Software License Agreement For EZ- Printer Services and Software between Neston Colour Limited and Nextier, dated May 29, 2003. 


 

	8.	Application Service Provider and Software License Agreement For EZ- Printer Services and Software between Polestar Chromoworks and Nextier, dated November 17, 2003. 


 

	9.	Application Service Provider and Software License Agreement For EZ- Printer Services and Software between Polestar - Purnell and Nextier, dated Dec. 23, 2002. 


 

	10.	Letter Agreement on EZ-Printer Services and Software between Quad/Graphics and International Paper Company (for Nextier Solutions Corporation), dated March 25, 2003. 


 

	11.	Application Service Provider and Software License Agreement for EZ-Printer Services and Software between Nextier Solutions Corporation and Quebecor World (USA) Inc., dated Dec. 21, 2005. 


 

	12.	Application Service Provider and Software License Agreement for EZ-Printer Services and Software between Nextier Solutions Corporation and Quebecor World Inc., dated July 15, 2005. 


 

	13.	Application Service Provider and Software License Agreement for EZ-Printer Services and Software between Nextier Solutions Corporation and R.R. Donnelley & Sons Company, dated Nov. 17, 2005. 


  
 I-7 









	14.	Application Service Provider and Software License Agreement for EZ-Printer Services and Software between Nextier Solutions Corporation and Three Z Printing Co., dated April 4, 2005. 


 

	15.	Application Service Provider and Software License Agreement for EZ-Printer Services and Software between Nextier Solutions Corporation and Transcontinental Inc., dated Feb. 16, 2005. 


 

	16.	Application Service Provider and Software License Agreement for EZ-Printer Services and Software between Nextier Solutions Corporation and Ringier Print Zofingen AG, dated Nov. 11, 2002. 


 

	17.	Application Service Provider and Software License Agreement for EZ-Supplier Services and Software between Nextier Solutions Corporation and Abitibi Consolidated, dated June 6, 2005. 


 

	18.	Application Service Provider and Software License Agreement for EZ- Supplier Services and Software between Nextier Solutions Corporation and Fraser Papers Inc., dated February 11, 2002. 


 

	19.	Application Service Provider and Software License Agreement for EZ- Supplier Services and Software between Nextier Solutions Corporation and International Paper Company, dated Feb. 22, 2002. 


 

	20.	Application Service Provider and Software License Agreement for EZ- Supplier Services and Software between Nextier Solutions Corporation and Gould Paper, dated Feb. 25, 2005. 


 

	21.	Application Service Provider and Software License Agreement for EZ- Supplier Services and Software between Nextier Solutions Corporation and Kruger Inc. dated Oct. 1, 2003. 


 

	22.	Application Service Provider and Software License Agreement for EZ- Supplier Services and Software between Nextier Solutions Corporation and Lindenmeyr Central, dated Sept. 6, 2005. 


 

	23.	Application Service Provider and Software License Agreement for EZ- Supplier Services and Software between Nextier Solutions Corporation and Mead Corporation and Westvaco Corporation, dated June 5, 2002.


  

	24.	Application Service Provider and Software License Agreement for EZ- Supplier Services and Software between Nextier Solutions Corporation and Norske Skog and Norske Canada, dated Dec. 30, 2003. 


 

	25.	Application Service Provider and Software License Agreement for EZ- Supplier Services and Software between Nextier Solutions Corporation and Norske Skog Canada Limited, dated June 28, 2005. 


 

	26.	Application Service Provider and Software License Agreement for EZ- Supplier Services and Software between Nextier Solutions Corporation and SCA Graphic Laakirchen AG, dated Sept. 1, 2004. 


  
 I-8 









	27.	Application Service Provider and Software License Agreement for EZ- Supplier Services and Software between Nextier Solutions Corporation and SCA North America, dated Nov. 3, 2004. 


 

	28.	Application Service Provider and Software License Agreement for EZ- Supplier Services and Software between Nextier Solutions Corporation and St. Marys Paper Ltd., dated April 1, 2004. 


 

	29.	Application Service Provider and Software License Agreement for EZ- Supplier Services and Software between Nextier Solutions Corporation and Tembec, Inc., dated January 8, 2003. 


 

	30.	Application Service Provider and Software License Agreement for EZ- Supplier Services and Software between Nextier Solutions Corporation and UPM-Kymmene, Inc., dated February 6, 2002. 


 

	31.	Application Service Provider and Software License Agreement for EZ- Supplier Services and Software between Nextier Solutions Corporation and West Linn Paper Co., dated May 8, 2002. 


 

	32.	Application Service Provider and Software License Agreement for EZ- Supplier Services and Software between Nextier Solutions Corporation and Weyerhaeuser Company Fine Paper, dated Nov. 29, 2001. 


 

	33.	Application Service Provider and Software License Agreement For EZ-Control Services and Software between Nextier Solutions Corporation and American Media, Inc., dated January 24, 2005. 


 

	34.	Application Service Provider and Software License Agreement For EZ-Control Services and Software between Nextier Solutions Corporation and A.T. Clayton, dated July 19, 2002. 


 

	35.	Application Service Provider and Software License Agreement For EZ-Supplier Services and Software between Nextier Solutions Corporation and Graphic Communications Holdings, Inc., dated Feb. 4, 2002. 


 

	36.	Application Service Provider and Software License Agreement For EZ-Control Services and Software between Nextier Solutions Corporation and Land’s End, Inc., dated May 16, 2002. 


 

	37.	Application Service Provider and Software License Agreement For EZ-Control Services and Software between Nextier Solutions Corporation and Primedia Magazines, Inc., dated January 5, 2004. 


 

	38.	Application Service Provider and Software License Agreement For EZ-Control Services and Software between Nextier Solutions Corporation and Sears Canada Inc., dated Feb. 17, 2004. 


 

	39.	Application Service Provider and Software License Agreement For EZ-Control Services and Software between Nextier Solutions Corporation and Strategic Paper Group LLC, dated Feb. 11, 2002. 


  
 I-9 









	40.	Application Service Provider and Software License Agreement For EZ-Control Services and Software between Nextier Solutions Corporation and Xpedx, dated May 31, 2002. 


 

	41.	Application Service Provider and Software License Agreement For EZ-Control Services and Software between Nextier Solutions Corporation and Athens Paper Company, Inc. dated August 1, 2010. 


 

	42.	Application Service Provider and Software License Agreement For EZ-Supplier Services and Software between Bowater America Inc. (confidential) and Nextier, dated January 17, 2002. 


 

	43.	Application Service Provider and Software License Agreement for EZ-Supplier Services and Software between Nextier Solutions Corporation and Stora Enso dated Oct. 1, 2003. 


 

	44.	Message Delivery Agreement between Liaison Technologies, LLC and Nextier Solutions Corporation dated June 1, 2007. 

  

	45.	SAVVIS Master Services Agreement between SAVVIS Communications Corporation and Nextier Solutions Corporation dated Dec. 2, 2005. 

  

	46.	Support and Maintenance Contract for the EPC Messenger between Ponton Consulting GmbH and Nextier Solutions Corporation dated Sept. 1, 2005. 


 

	47.	Agreement between Prinovi Nurnberg and Nextier, dated March 3, 2006. 

  

	48.	VisionSuite Master Service Agreement between International Paper Company, Coated and SC Papers Division and Transcentric, Inc. dated September 1, 2005. 


 

	49.	Beta Software Testing Agreement between Nextier Solutions Corporation and Lands’ End, Inc. dated October 6, 2000. 

  

	50.	Software License Agreement between Nextier Solutions Corporation and Lands’ End, Inc. dated October 6, 2000. 

  

	51.	System Purchase Agreement for Production Management Information System between Champion International Corporation (Quinnesec, MI) and Majiq Inc. effective December 20, 1996. 


 

	52.	System Purchase Agreement for Production Management System between Champion International Corporation (Sartell, MN) and Majiq Inc. effective September 25, 1992. 


 

	53.	System Purchase Agreement for Production Management System between Champion International Corporation (Bucksport, ME) and Majiq Inc. effective August 1, 1994. 


 

	54.	International Paper Company Services Contract between International Paper Company and Advanced Service Providers, dated May 1, 2005. 


 

	55.	PROVOX Instrumentation License Agreement between Fisher Controls International, Inc. and Champion, dated April 5, 1993. 

  

	56.	Master License Agreement between Fisher Controls International, Inc. and Champion, dated March 25, 1992. 


  
 I-10 









	57.	End User License Agreement between International Paper Company and Northern Dynamic, Inc. (undated). 

  

	58.	Software License Agreement between International Paper Company and Cognex (undated). 

  

	59.	Agreement between International Paper Company and Emerson Process Management dated July 1, 2005. 

  

	60.	End-User License Agreement between International Paper Company and Environmental Support Solutions, Inc. (undated). 

  

	61.	Software License Agreement between International Paper Company and TISCOR (undated). 

  

	62.	Lifetime Support Services Agreement and Software License Agreement between International Paper Company and Invensys Systems, Inc. (undated). 


 

	63.	Software License Agreement between International Paper Company and Digital Equipment of Canada (undated). 

  

	64.	Software License Agreement between International Paper Company and Mynah Technologies dated January 2005. 

  

	65.	iRMX Run-time Operating System Software License Agreement between International Paper Company and RadiSys Corporation (undated). 

  

	66.	Software License Agreement between International Paper Company and Intersoft, Inc. (undated). 

  

	67.	Software License Agreement between International Paper Company and Invensys Software Systems (undated). 

  

	68.	Software License Agreement between International Paper Company and The Foxboro Company (undated). 

  

	69.	Interact License Agreements between International Paper Company and Computer Technology Corporation (undated). 

  

	70.	Statement of Work #1 dated March 9, 2006 between Abbottsfield industrial Training, Inc. and International Paper Company. 

  

	71.	Software License Agreement, and related Schedule of Products Number 1, Schedule of Products Number 2, Schedule of Products Number 3, and Schedule of Products Number 4, effective on August 1, 2006, between Cincom
Systems, Inc. and Verso Paper LLC. 

  

	72.	Software License Agreement between Apex Analytical, Inc. and Verso Paper LLC, dated June 6, 2007. 

  

	73.	Software License Agreement between Captaris, Inc. and Verso Paper LLC, dated March 7, 2008. 

  

	74.	Outsourcing Service Provider Agreement between CASS Service Agreement and Verso Paper LLC, dated September 14, 2006. 


  
 I-11 









	75.	Software License Agreement between Cincom Systems, Inc., and Verso Paper LLC, dated August 1, 2006. 

  

	76.	Cognos General Software License, Support & Services Terms between Cognos Corporation and Verso Paper LLC, dated April 30, 2007. 


 

	77.	Ektron, Inc. Software License Agreement between Ektron, Inc. and Verso Paper LLC, dated June 22, 2007. 

  

	78.	Participation Agreement, incorporating FileNet Software License and Support Agreement, between FileNet Corporation and Verso Paper LLC, dated April 30, 2007. 


 

	79.	Software License Agreement between GE Intelligent Platforms, Inc. and Verso Paper Corp, dated November 25, 2012. 

  

	80.	Software License Agreement between Greycon Inc., and Verso Paper LLC, dated June 18, 2007. 

  

	81.	U.S. Relicense Application for VAX and Alpha Software Hewlett–Packard Company and Verso Paper LLC, dated May 7, 2007. 

  

	82.	Software License Agreement between IBM (Lotus Notes) and Verso Paper LLC, dated August 1, 2006. 

  

	83.	End-User License Agreement between Loftware, Inc. and Verso Paper LLC, dated July 16, 2007. 

  

	84.	System Purchase Agreement between TietoEnator Majiq, Inc. and Verso Androscoggin LLC dated November 20, 2006. 

  

	85.	Business and Services Agreement between Microsoft Licensing, GP and Verso Paper LLC, dated August 1, 2006. 

  

	86.	Enterprise License and Services Agreement between OSIsoft, Inc., and Verso Paper Corp., dated October 3, 2012. 

  

	87.	Support and Maintenance Contract for the EPC Messenger between Ponton Consulting GmbH and Verso Paper LLC dated October 1, 2007. 


 

	88.	Subscription License Agreement between Sabrix, Inc., and Verso Paper LLC, dated April 10, 2007. 

  

	89.	Software End-User License Agreement between SAP America, Inc. and Verso Paper Holdings LLC, dated December 28, 2006. 

  

	90.	Software License Agreement between SAP America, Inc. and Verso Paper Holdings LLC (Appendix 2) dated September 28, 2007. 

  

	91.	Software Contract between Solid Works and Verso Paper LLC, as assignee from International Paper Company, dated August 1, 2006. 

  


	92.	Software Contract between Symantec and Verso Paper LLC, as assignee from International Paper Company, dated August 1, 2006. 

  

	93.	Software License Agreement between VTN Technologies, Inc. and Verso Paper LLC, dated September 5, 2007. 


  
 I-12 









	94.	Outsourcing Services Agreement between Dell Marketing LLP and Verso Paper Corp., dated March 1, 2012. 

  

	95.	Software License Agreement between SAP America, Inc. and Verso Paper Holdings LLC (Appendix 3) dated June 2, 2009. 

  

	96.	Software License Agreement between SAP America, Inc. and Verso Paper Holdings LLC (Appendix 4) dated December 23, 2009. 

  

	97.	Software License Agreement between SAP America, Inc. and Verso Paper Holdings LLC (Appendix 5) dated December 15, 2010. 

  

	98.	Software License Agreement between SAP America, Inc. and Verso Paper Holdings LLC (Appendix 1) dated December 28, 2006. 

  

	99.	Software License and Services Agreement between Oracle USA, Inc. and Verso Paper LLC. dated May 11, 2013. 

  

	100.	Business Systems Agreement and Subscription Services Agreement between Honeywell International Inc. and Verso Paper Corp. dated September 11, 2012. 


 

	101.	Software License Agreement between Enterprise Performance Solutions, Inc. and Verso Paper Corp. dated May 11, 2013. 

  

	102.	Software License Agreement between VMware, Inc. and Verso Paper Corp. dated September 23, 2009. 

  

	103.	Software License Agreement between SAP America, Inc. and Verso Paper Holdings LLC (Appendix 6) dated June 28, 2012. 


  
 I-13 








 SCHEDULE IV 

FILING JURISDICTIONS 
  

			
	 Pledgor
	  	 Filing Jurisdiction

	Verso Paper Holdings LLC	  	Delaware Secretary of State
	Verso Paper Inc.	  	Delaware Secretary of State
	Verso Paper LLC	  	Delaware Secretary of State
	Verso Androscoggin LLC	  	Delaware Secretary of State
	Verso Bucksport LLC	  	Delaware Secretary of State
	Verso Fiber Farm LLC	  	Delaware Secretary of State
	Verso Maine Energy LLC	  	Delaware Secretary of State
	Verso Quinnesec LLC	  	Delaware Secretary of State
	Verso Sartell LLC	  	Delaware Secretary of State
	Verso Quinnesec REP Holding Inc.	  	Delaware Secretary of State
	nexTier Solutions Corporation	  	California Secretary of State


  
 I-14 








 SCHEDULE V 

COMMERCIAL TORT CLAIMS 
 None. 

  
 I-15 








 SCHEDULE VI 

MATTERS RELATING TO ACCOUNTS AND INVENTORY 
 None.


  
 I-16 








 Exhibit I 

to Collateral Agreement 

SUPPLEMENT NO.              dated as of
                     (this “Supplement”), to the Amended and Restated Collateral Agreement dated as of August 1, 2014 (the
“Collateral Agreement”), among VERSO PAPER HOLDINGS LLC, a Delaware limited liability company (the “Company”), VERSO PAPER INC. (“Finance Co” and, together with the Company, the
“Issuers”), each Subsidiary of the Company identified on Schedule I or otherwise identified therein as a party (each, a “Subsidiary Party”), and Wilmington Trust, National Association, as collateral agent (in such
capacity, together with any successor collateral agent, the “Collateral Agent”) for the Secured Parties (as defined therein). 

Section 7.16 of the Collateral Agreement provides that additional Subsidiaries may become Subsidiary Parties under the Collateral
Agreement by execution and delivery of an instrument in the form of this Supplement. The undersigned Subsidiary (the “New Subsidiary”) is executing this Supplement to become a Subsidiary Party under the Collateral Agreement in order
to induce the Secured Parties to make or continue extensions of credit. 
 Accordingly, the Collateral Agent and the New Subsidiary agree as
follows: 
 SECTION 1. In accordance with Section 7.16 of the Collateral Agreement, the New Subsidiary by its signature below becomes a
Subsidiary Party and a Pledgor under the Collateral Agreement with the same force and effect as if originally named therein as a Subsidiary Party and a Pledgor, and the New Subsidiary hereby (a) agrees to all the terms and provisions of the
Collateral Agreement applicable to it as a Subsidiary Party and a Pledgor thereunder and (b) represents and warrants that the representations and warranties made by it as a Pledgor thereunder are true and correct, in all material respects, on
and as of the date hereof. In furtherance of the foregoing, the New Subsidiary, as security for the payment and performance in full of the Obligations (as defined in the Collateral Agreement), does hereby create and grant to the Collateral Agent,
for the ratable benefit of the Secured Parties, a security interest in and Lien on all the New Subsidiary’s right, title and interest in and to the Collateral (as defined in the Collateral Agreement) of the New Subsidiary. Each reference to a
“Subsidiary Party” or a “Pledgor” in the Collateral Agreement shall be deemed to include the New Subsidiary. The Collateral Agreement is hereby incorporated herein by reference. 

SECTION 2. The New Subsidiary represents and warrants to the Collateral Agent and the other Secured Parties that this Supplement has been duly
authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, subject to (i) the effects of bankruptcy, insolvency, moratorium, reorganization, fraudulent
conveyance or other similar laws affecting creditors’ rights generally, (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law) and (iii) implied covenants of
good faith and fair dealing. 

  
 I-1 








 SECTION 3. This Agreement may be executed in two or more counterparts, each of which shall
constitute an original but all of which when taken together shall constitute but one contract. This Supplement shall become effective when (a) the Collateral Agent shall have received a counterpart of this Supplement that bears the signature of
the New Subsidiary and (b) the Collateral Agent has executed a counterpart hereof. 
 SECTION 4. The New Subsidiary hereby represents
and warrants that (a) set forth on Schedule I attached hereto is a true and correct schedule of all the Pledged Debt Securities of the New Subsidiary as of the date hereof, (b) set forth on Schedule II attached hereto is a true and correct
schedule of all of the material Patents, Trademarks and Copyrights of the New Subsidiary as of the date hereof, (c) set forth on Schedule III attached hereto is a true and correct schedule of all Commercial Tort Claims of the New Subsidiary
individually in excess of $5.0 million as of the date hereof and (d) set forth under its signature hereto, is the true and correct legal name of the New Subsidiary, its jurisdiction of formation and the location of its chief executive office.

 SECTION 5. Except as expressly supplemented hereby, the Collateral Agreement shall remain in full force and effect. 

SECTION 6. THIS SUPPLEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS SUPPLEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 7. In the event any one or more of the provisions contained in this Supplement
should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and in the Collateral Agreement shall not in any way be affected or impaired thereby. 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. 

SECTION 8. All communications and notices hereunder shall be in writing and given as provided in Section 7.01 of the Collateral
Agreement. 
 SECTION 9. The New Subsidiary agrees to reimburse the Collateral Agent for its reasonable out-of-pocket expenses in connection
with this Supplement, including the reasonable fees, disbursements and other charges of counsel for the Collateral Agent. 

  
 I-2 








 IN WITNESS WHEREOF, the New Subsidiary and the Collateral Agent have duly executed this
Supplement to the Collateral Agreement as of the day and year first above written. 
  

			
	[Name of New Subsidiary]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Legal Name:
	
	Jurisdiction of Formation:
	
	Location of Chief Executive Office:
	
	 WILMINGTON TRUST, National Association,

as Collateral Agent

		
	By:	 	  

	Name:	 	
	Title:	 	









 Schedule I 

to Supplement No.      to the 

Collateral Agreement 
 Pledged
Securities of the New Subsidiary 
 EQUITY INTERESTS 
  

							
	 Number of Issuer

Certificate
	  	 Registered Owner
	  	 Number and Class
of Equity Interest
	  	 Percentage of Equity
Interests

		  		  		  	
		  		  		  	
		  		  		  	

 DEBT SECURITIES 
  

							
	 Issuer
	  	 Principal Amount
	  	 Date of Note
	  	 Maturity Date

		  		  		  	
		  		  		  	
		  		  		  	


  
 I-2 








 Schedule II 

to Supplement No.      to the 

Collateral Agreement 
 PATENTS,
TRADEMARKS AND COPYRIGHTS 

  
 I-3 








 Schedule III 

to Supplement No.      to the 

Collateral Agreement 
 COMMERCIAL
TORT CLAIMS 

  
 I-4 








 Exhibit II 

to Collateral Agreement 
 Form
of Other Pari Passu Obligations Secured Party Joinder Agreement 
 [Name of Additional Secured Creditor] 

[Address of Additional Secured Creditor] 
 [Date] 

 
  
  

 
  

 
  

 
 The undersigned is the agent or trustee (the
“Authorized Representative”) for persons wishing to become “Secured Parties” (the “New Secured Parties”) under the Collateral Agreement dated as of May 11, 2012 (as heretofore amended and/or
supplemented, the “Collateral Agreement” (capitalized terms used without definition herein have the meanings assigned to such term by the Collateral Agreement)) among VERSO PAPER HOLDINGS LLC, a Delaware limited liability company
(the “Company”), VERSO PAPER INC. (“Finance Co” and, together with the Company, the “Issuers”), each subsidiary of the Company identified therein as a party (each, a “Subsidiary
Pledgor”) and Wilmington Trust, National Association, as collateral agent (in such capacity, the “Collateral Agent”) for the Secured Parties (as defined therein). 

In consideration of the foregoing, the undersigned hereby: 

(i) represents that the Authorized Representative has been authorized by the New Secured Parties to become a party to the
Collateral Agreement on behalf of the New Secured Parties under that [DESCRIBE OPERATIVE AGREEMENT] (the “New Secured Obligation”) and to act as the Authorized Representative for the New Secured Parties; 

(ii) acknowledges that the New Secured Parties has received a copy of the Collateral Agreement; 

(iii) appoints and authorizes the Collateral Agent to take such action as agent on its behalf and on behalf of all other
Secured Parties and to exercise such powers under the Collateral Agreement as are delegated to the Collateral Agent by the terms thereof, together with all such powers as are reasonably incidental thereto; and 

(iv) accepts and acknowledges the terms of the Collateral Agreement and agrees to serve as Authorized Representative for the
New Secured 

  
 I-5 








 
Parties with respect to the New Secured Obligations and agrees on its own behalf and on behalf of the New Secured Parties to be bound by the terms hereof applicable to holders of Other
Second-Lien Obligations, with all the rights and obligations of a Secured Party thereunder and bound by all the provisions thereof as fully as if it had been a Secured Party on the effective date of the Collateral Agreement. 

The Collateral Agent, by acknowledging and agreeing to this Additional Secured Party Consent, accepts the appointment set forth in clause (iii) above.

 The name and address of the Authorized Representative for purposes of Section 6.01 of the Collateral Agreement are as follows: 

[name and address of Authorized Representative] 
 THIS
ADDITIONAL SECURED PARTY CONSENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 IN
WITNESS WHEREOF, the undersigned has caused this Additional Secured Party Consent to be duly executed by its authorized officer as of the      day of 20    . 

 

			
	[NAME OF AUTHORIZED REPRESENTATIVE]
		
	By:	 	  

		 	Name:
		 	Title:
	
	ACKNOWLEDGED AND AGREED WILMINGTON TRUST, NATIONAL ASSOCIATION
		
	By:	 	  

		 	Name:
		 	Title:


  
 I-6 









			
	VERSO PAPER HOLDINGS LLC. 
		
	By:	 	  

		 	Name:
		 	Title:


  
 I-7 








 Exhibit III 

to the Collateral Agreement 

ACKNOWLEDGEMENT AND CONSENT 

[DATE] 
 The undersigned hereby
acknowledges receipt of a copy of the Amended and Restated Collateral Agreement dated as of August [—], 2014 (the “Agreement”), made by the Pledgors parties thereto for the benefit
of Wilmington Trust, National Association, as Collateral Agent. The undersigned agrees for the benefit of the Collateral Agent and the Secured Parties as follows: 

The undersigned acknowledges that its Equity Interests (as defined in the Agreement) have been pledged pursuant to the terms of the Agreement
and will comply with all actions that may be required of it pursuant to Section 3.05 and 4.04(b) of the Agreement. 
 [Signature on the
following page] 








 Exhibit III 

to the Collateral Agreement 
  

 IN WITNESS WHEREOF, the undersigned has duly executed this acknowledgement and consent as of
the date first written above. 
  

			
	[NAME OF ISSUER]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Address for Notices:
	
	  

	  

	  

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