EX-10.4



 Exhibit 10.4 

EXECUTION VERSION 
 THE
LIENS AND SECURITY INTEREST GRANTED HEREBY ARE SUBORDINATE IN THE MANNER
AND TO THE EXTENT SET FORTH IN THAT CERTAIN CLOSING DATE
INTERCREDITOR AGREEMENT (THE “CLOSING DATE INTERCREDITOR AGREEMENT”) DATED AS
OF JUNE 30, 2014 BETWEEN DEUTSCHE BANK AG NEW YORK BRANCH, AS FIRST LIEN CREDIT AGREEMENT ADMINISTRATIVE
AGENT AND DEUTSCHE BANK AG NEW YORK BRANCH, AS SECOND LIEN CREDIT AGREEMENT ADMINISTRATIVE AGENT;
AND EACH HOLDER OF THIS INSTRUMENT, BY ITS ACCEPTANCE HEREOF, IRREVOCABLY
AGREES TO BE BOUND BY THE PROVISIONS OF THE CLOSING DATE
INTERCREDITOR AGREEMENT. 
 SECOND LIEN SECURITY AGREEMENT 

dated as of  

June 30, 2014 
 among 

THE GRANTORS IDENTIFIED HEREIN 

and 
 DEUTSCHE BANK AG NEW YORK
BRANCH, 
 as Administrative Agent 







 TABLE OF CONTENTS 

 
  

 

							
	 	  	 	  	PAGE	 
			
		  	 Article 1

Definitions
	  			
			
	 Section 1.01.
	  	 Credit Agreement
	  	 	1	  
	 Section 1.02.
	  	 Other Defined Terms
	  	 	1	  
			
		  	Article 2	  			
		  	Pledge of Securities	  			
			
	 Section 2.01.
	  	 Pledge
	  	 	5	  
	 Section 2.02.
	  	 Delivery of the Pledged Securities
	  	 	6	  
	 Section 2.03.
	  	 Representations, Warranties and Covenants
	  	 	6	  
	 Section 2.04.
	  	 Certification of Limited Liability Company and Limited Partnership Interests
	  	 	8	  
	 Section 2.05.
	  	 Registration in Nominee Name; Denominations
	  	 	9	  
	 Section 2.06.
	  	 Voting Rights; Dividends and Interest
	  	 	10	  
			
		  	Article 3	  			
		  	Security Interests in Personal Property	  			
			
	 Section 3.01.
	  	 Security Interest
	  	 	12	  
	 Section 3.02.
	  	 Representations and Warranties
	  	 	14	  
	 Section 3.03.
	  	 Covenants
	  	 	16	  
			
		  	Article 4	  			
		  	Remedies	  			
			
	 Section 4.01.
	  	 Remedies Upon Default
	  	 	18	  
	 Section 4.02.
	  	 Application of Proceeds
	  	 	20	  
	 Section 4.03.
	  	 Grant of License to Use Intellectual Property
	  	 	21	  
	 Section 4.04.
	  	 Effect of Securities Laws
	  	 	22	  
	 Section 4.05.
	  	 Deficiency
	  	 	22	  
			
		  	Article 5	  			
		  	Subordination	  			
			
	 Section 5.01.
	  	 Subordination
	  	 	22	  
			
		  	Article 6	  			
		  	Miscellaneous	  			
			
	 Section 6.01.
	  	 Notices
	  	 	23	  
	 Section 6.02.
	  	 Waivers; Amendment
	  	 	23	  
	 Section 6.03.
	  	 Administrative Agent’s Fees and Expenses; Indemnification
	  	 	23	  
	 Section 6.04.
	  	 Successors and Assigns
	  	 	24	  


  
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	 Section 6.05.
	  	 Survival of Agreement
	  	 	24	  
	 Section 6.06.
	  	 Counterparts; Effectiveness; Several Agreement
	  	 	24	  
	 Section 6.07.
	  	 Severability
	  	 	24	  
	 Section 6.08.
	  	 Governing Law; Jurisdiction; Venue; Waiver of Jury Trial; Consent to Service of Process
	  	 	25	  
	 Section 6.09.
	  	 Headings
	  	 	25	  
	 Section 6.10.
	  	 Security Interest Absolute
	  	 	25	  
	 Section 6.11.
	  	 Termination, Release or Subordination
	  	 	25	  
	 Section 6.12.
	  	 Additional Grantors
	  	 	26	  
	 Section 6.13.
	  	 Administrative Agent Appointed Attorney-in-Fact
	  	 	27	  
	 Section 6.14.
	  	 General Authority of the Administrative Agent
	  	 	28	  
	 Section 6.15.
	  	 Reasonable Care
	  	 	28	  
	 Section 6.16.
	  	 Delegation; Limitation
	  	 	28	  
	 Section 6.17.
	  	 Reinstatement
	  	 	28	  
	 Section 6.18.
	  	 Intercreditor Agreements
	  	 	28	  
	 Section 6.19.
	  	 Obligations of Grantors
	  	 	29	  

 Schedules 
  

			
	Schedule I	  	Subsidiary Parties
	Schedule II	  	Pledged Equity and Pledged Debt
	Schedule III	  	[Reserved].
	Schedule IV	  	Locations of Equipment and Inventory

 Exhibits 
  

			
	Exhibit I	  	Form of Security Agreement Supplement
	Exhibit II	  	Form of Perfection Certificate
	Exhibit III	  	Form of Patent Security Agreement
	Exhibit IV	  	Form of Trademark Security Agreement
	Exhibit V	  	Form of Copyright Security Agreement


  
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 SECOND LIEN SECURITY AGREEMENT dated as of June 30, 2014 (as amended, restated,
amended and restated, supplemented and otherwise modified from time to time, the “Agreement”), by and among the Grantors (as defined below) and Deutsche Bank AG New York Branch, as Administrative Agent for the Secured Parties (in
such capacity and together with its successors and permitted assigns in such capacity, the “Administrative Agent”). 

Reference is made to the Second Lien Credit Agreement dated as of June 30, 2014 (as amended, restated, amended and restated,
supplemented or otherwise modified in writing from time to time, the “Credit Agreement”), among, inter alios, Jason Incorporated, a Wisconsin corporation (the “Company” and the
“Borrower”), Jason Partners Holdings Inc., a Delaware corporation (“Holdings”), Jason Holdings, Inc. I, a Delaware corporation (“Intermediate Holdings”), the other guarantors from time to time party
thereto, Deutsche Bank AG New York Branch, as Administrative Agent and each lender from time to time party thereto (collectively, the “Lenders” and, individually, a “Lender”). The Lenders have agreed to extend
credit to the Borrower subject to the terms and conditions set forth in the Credit Agreement. The obligations of the Lenders to extend such credit are conditioned upon, among other things, the execution and delivery of this Agreement. Holdings,
Intermediate Holdings and the Subsidiary Parties (as defined below) are affiliates of the Company, will derive substantial benefits from the extension of credit by the Lenders pursuant to the Credit Agreement, and are willing to execute and deliver
this Agreement in order to induce the Lenders to extend such credit. It is acknowledged and agreed by all parties hereto that this Agreement is executed and effective on and from the Closing Date. Accordingly, the parties hereto agree as follows:

 ARTICLE 1 

DEFINITIONS 

Section 1.01. Credit Agreement. 

(a) Capitalized terms used in this Agreement and not otherwise defined herein have the meanings specified in the Credit Agreement. All terms
defined in the 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 UCC. 

(b) The rules of construction specified in Article I (including Sections 1.01 through 1.11) of the Credit Agreement also apply to this
Agreement. 
 Section 1.02. Other Defined Terms. As used in this Agreement, the following terms have the meanings specified
below: 
 “Account Debtor” means any Person who is or who may become obligated to any Grantor under, with respect to
or on account of an Account. 
 “Accounts” has the meaning specified in Article 9 of the UCC. 

  
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 “Administrative Agent” has the meaning assigned to such term in the preliminary
statements to this Agreement. 
 “Article 9 Collateral” has the meaning assigned to such term in Section 3.01(a). 

“Borrower” has the meaning assigned to such term in the preliminary statements to this Agreement. 

“Collateral” means the Article 9 Collateral and the Pledged Collateral. 

“Copyright License” means any written agreement, now or hereafter in effect, granting any right to any third party under any
Copyright now or hereafter owned by any Grantor or that such Grantor otherwise has the right to license, or granting any right to any Grantor under any Copyright now or hereafter owned by any third party, and all rights of such Grantor under any
such agreement. 
 “Copyrights” means all of the following now owned or hereafter acquired by any Grantor: (a) all
copyright rights in any work subject to the copyright Laws of the United States, whether as author, assignee, transferee or otherwise, and (b) all registrations and applications for registration of any such copyright in the United States,
including registrations, recordings, supplemental registrations and pending applications for registration in the USCO. 
 “Credit
Agreement” has the meaning assigned to such term in the preliminary statements to this Agreement. 
 “Designated First Lien
Representative” has the meaning assigned to such term in the Closing Date Intercreditor Agreement. 
 “Discharge of First
Lien Credit Agreement Obligations” has the meaning assigned to such term in the Closing Date Intercreditor Agreement. 

“First Lien Administrative Agent” shall mean the Administrative Agent, in its capacity as administrative agent under the
First Lien Security Agreement, and any successors and permitted assigns thereof. 
 “General Intangibles” has the meaning
specified in Article 9 of the UCC. 
 “Grantor” means the Borrower, each Guarantor that is a party hereto, and each
Guarantor that is a Domestic Subsidiary that becomes a party to this Agreement after the Closing Date. 
 “Holdings” has
the meaning assigned to such term in the preliminary statements to this Agreement. 
 “Intellectual Property” means all
(a) intellectual property of every kind and nature now owned or hereafter acquired by any Grantor, including inventions, designs, Patents, Copyrights, Trademarks, trade secrets, the intellectual property rights in software


  
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and databases and related documentation and all additions and improvements to the foregoing, (b) renewals, extensions, supplements and continuations thereof, (c) income, fees,
royalties, damages, claims and payments now and hereafter due and/or payable thereunder or with respect thereto including damages and payments for past, present or future infringements or violations thereof, and (d) rights to sue for past,
present or future infringements or violations thereof, in each case whether such intellectual property is owned or licensed. 

“Intellectual Property Security Agreements” means the short-form Patent Security Agreement, short-form Trademark Security
Agreement, and short-form Copyright Security Agreement, each substantially in the form attached hereto as Exhibits III, IV and V, respectively. 

“Intermediate Holdings” has the meaning assigned to such term in the preliminary statements to this Agreement. 

“Lenders” has the meaning assigned to such term in the preliminary statements to this Agreement. 

“License” means any Patent License, Trademark License, Copyright License or other Intellectual Property license or sublicense
agreement to which any Grantor is a party; provided, that Licenses shall not include any Excluded Assets. 
 “Patent
License” means any written agreement, now or hereafter in effect, granting to any third party any right to make, use or sell any invention on which a Patent, now or hereafter owned by any Grantor or that any Grantor otherwise has the right
to license, is in existence, or granting to any Grantor any right to make, use or sell any invention on which a Patent, now or hereafter owned by any third party, is in existence, and all rights of any Grantor under any such agreement. 

“Patents” means all of the following now owned or hereafter acquired by any Grantor: (a) all letters patent of the
United States in or to which any Grantor now or hereafter has any right, title or interest therein, all registrations and recordings thereof, and all applications for letters patent of the United States, including registrations, recordings and
pending applications in the USPTO; and (b) all reissues, continuations, divisionals, continuations-in-part, improvements or extensions thereof, and the inventions disclosed or claimed therein, including the right to make, use and/or sell the
inventions disclosed or claimed therein. 
 “Perfection Certificate” means a certificate substantially in the form of
Exhibit II, completed and supplemented with the schedules and attachments contemplated thereby, and duly executed by a Responsible Officer of each Grantor. 

“Pledged Collateral” has the meaning assigned to such term in Section 2.01. 

“Pledged Debt” has the meaning assigned to such term in Section 2.01. 

  
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 “Pledged Equity” has the meaning assigned to such term in Section 2.01. 

“Pledged Securities” means the Pledged Equity and Pledged Debt. 

“Proceeds” shall mean all “proceeds” as such term is defined in the UCC. 

“Registered Intellectual Property Collateral” means the Collateral consisting of United States registered Patents, United
States registered Trademarks and United States registered Copyrights and, in each case, applications therefor. 
 “Security
Agreement Supplement” means an instrument substantially in the form of Exhibit I hereto. 
 “Security
Interest” has the meaning assigned to such term in Section 3.01(a). 
 “Subsidiary Parties” means (a) the
Restricted Subsidiaries identified on Schedule I and (b) each other Restricted Subsidiary that becomes a party to this Agreement as a Subsidiary Party after the Closing Date. 

“Trademark License” means any written agreement, now or hereafter in effect, granting to any third party any right to use any
Trademark now or hereafter owned by any Grantor or that any Grantor otherwise has the right to license, or granting to any Grantor any right to use any Trademark now or hereafter owned by any third party, and all rights of any Grantor under any such
agreement. 
 “Trademarks” means all of the following now owned or hereafter acquired by any Grantor: (a) all
trademarks, service marks, trade names, corporate names, trade dress, logos, designs, fictitious business names, and other source or business identifiers, now existing or hereafter adopted or acquired and whether registered or unregistered, all
registrations and recordings thereof, and all registration and recording applications filed in connection therewith, including registrations and registration applications in the USPTO or any similar offices in any State of the United States or any
political subdivision thereof, and all extensions or renewals thereof, as well as any unregistered trademarks and service marks used by a Grantor; and (b) all goodwill connected with the use of and symbolized thereby; provided, that
“Trademarks” shall not include any Excluded Assets. 
 “UCC” means the Uniform Commercial Code as from
time to time in effect in the State of New York; provided that, if perfection or the effect of perfection or non-perfection or the priority of the security interest in any Collateral is governed by the Uniform Commercial Code as in effect in
a jurisdiction other than the State of New York, “UCC” means the Uniform Commercial Code as in effect from time to time in such other jurisdiction for purposes of the provisions hereof relating to such perfection, effect of
perfection or non-perfection or priority. 
 “USCO” means the United States Copyright Office. 

“USPTO” means the United States Patent and Trademark Office. 

  
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 ARTICLE 2 

PLEDGE OF SECURITIES 

Section 2.01. Pledge. As security for the payment or performance in full of the Secured Obligations, including the Guaranteed
Obligations, each of the Grantors hereby pledges to the Administrative Agent, its successors and permitted assigns, for the benefit of the Secured Parties, and hereby grants to the Administrative Agent, its successors and permitted assigns, for the
benefit of the Secured Parties, a security interest in all of such Grantor’s right, title and interest in, to and under any and all of the following assets and properties now owned or at any time hereafter acquired by such Grantor or in which
such Grantor now has or at any time in the future may acquire right, title or interest: 
 (i) all Equity Interests held by
it, including, without limitation, the Equity Interests which are listed on Schedule II, and any other Equity Interests obtained in the future by such Grantor and the certificates (if any) representing all such Equity Interests (the
“Pledged Equity”); provided that the Pledged Equity shall not include (A) Excluded Assets or (B) for the avoidance of doubt, Equity Interests in excess of 65% of the issued and outstanding Equity Interests of
(1) any Restricted Subsidiary that is a CFC Holding Company and (2) any Restricted Subsidiary that is a wholly owned Foreign Subsidiary that is directly owned by the Borrower or by any Subsidiary Guarantor; 

(ii) (A) all debt securities owned by it, including without limitation, the debt securities which are listed opposite the name
of such Grantor on Schedule II, (B) any debt securities obtained in the future by such Grantor and (C) the promissory notes and any other instruments evidencing such debt securities (the “Pledged Debt”); 

(iii) subject to the terms of the Intercreditor Agreements, all other property that may be delivered to and held by the
Administrative Agent pursuant to the terms of this Agreement; 
 (iv) subject to Section 2.06, 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 (i) and (ii) above; 
 (v) subject to Section 2.06, all rights and privileges of such
Grantor with respect to the securities and other property referred to in clauses (i), (ii), (iii) and (iv) above; and 

(vi) all Proceeds of any of the foregoing 

(the items referred to in clauses (i) through (vi) above being collectively referred to as the “Pledged Collateral”). For the
avoidance of doubt, neither “Pledged Collateral” nor any defined term used therein shall include any Excluded Assets. 

  
 5 








 TO HAVE AND TO HOLD the Pledged Collateral, together with all right, title, interest, powers,
privileges and preferences pertaining or incidental thereto, unto the Administrative Agent, its successors and permitted assigns, for the benefit of the Secured Parties, forever, subject, however, to the terms, covenants and conditions hereinafter
set forth. 
 Section 2.02. Delivery of the Pledged Securities. 

(a) As of the Closing Date, each Grantor has delivered or caused to be delivered to the First Lien Administrative Agent, for the benefit of
the Secured Parties, any and all Pledged Equity evidenced by a certificate and, to the extent required to be delivered pursuant to Section 2.02(b) below, any and all Pledged Debt. After the Discharge of the First Lien Credit Agreement
Obligations and subject to the terms of any Parity Intercreditor Agreement (if any), each Grantor agrees promptly (but in any event within 10 Business Days after receipt by such Grantor or such longer period as the Administrative Agent may agree in
its reasonable discretion) to deliver or cause to be delivered to the Administrative Agent (subject to the Intercreditor Agreements), for the benefit of the Secured Parties, any and all Pledged Equity acquired after the Closing Date that is
evidenced by a certificate and, to the extent required to be delivered pursuant to Section 2.02(b), any and all Pledged Debt acquired after the Closing Date. 

(b) Each Grantor will cause any Indebtedness for borrowed money having an aggregate principal amount in excess of $5,000,000 owed to such
Grantor by any Person that is evidenced by a duly executed promissory note constituting a negotiable instrument to be pledged and, after the Discharge of First Lien Credit Agreement Obligations and subject to the terms of any Parity Intercreditor
Agreement (if any), delivered to the Administrative Agent, for the benefit of the Secured Parties, pursuant to the terms hereof. 
 (c) Upon
delivery to the Administrative Agent, any Pledged Securities shall be accompanied by stock or security powers, endorsements or allonges duly executed in blank or other instruments of transfer reasonably satisfactory to the Administrative Agent
(other than instruments or documents requiring actions in any non-U.S. jurisdiction related to Equity Interests of Foreign Subsidiaries). Each delivery of Pledged Securities shall be accompanied by (and to the extent such delivery is to an agent or
representative other than the Administrative Agent pursuant to the terms of the Intercreditor Agreements, the Borrower shall separately deliver) a schedule describing the Pledged Securities, which schedule shall be deemed to supplement Schedule
II and made a part hereof; provided that failure to supplement Schedule II shall not affect the validity of such pledge of such Pledged Securities. Each schedule so delivered shall supplement any prior schedules so delivered. 

Section 2.03. Representations, Warranties and Covenants. Each Grantor represents, warrants and covenants to and with the
Administrative Agent, for the benefit of the Secured Parties, that: 
 (a) As of the date hereof, Schedule II includes all Equity
Interests, debt securities and promissory notes required to be pledged by such Grantor hereunder in order to satisfy the Collateral and Guarantee Requirement; 

  
 6 








 (b) the Pledged Equity issued by the Borrower or a wholly-owned Restricted Subsidiary have been
duly and validly authorized and issued by the issuers thereof and are fully paid and non-assessable (if applicable); 
 (c) except for the
security interests granted hereunder, such Grantor (i) is, subject to any transfers made in compliance with the Credit Agreement, the direct owner, beneficially and of record, of the Pledged Securities indicated on Schedule II to be
owned by such Grantor, (ii) holds the same free and clear of all Liens, other than (A) Liens created by the Collateral Documents and (B) Liens permitted pursuant to Section 7.01 of the Credit Agreement, and (iii) if
reasonably requested by the Administrative Agent, will use commercially reasonable efforts to defend its title or interest thereto or therein against any and all Liens (other than the Liens permitted pursuant to this Section 2.03(c), however
arising, of all Persons whomsoever; 
 (d) as of the Closing Date, except for restrictions and limitations (i) imposed or permitted by
the First Lien Loan Documents, the Loan Documents, Contractual Obligations permitted pursuant to Section 7.09 of the Credit Agreement, or securities laws generally and (ii) in the case of Pledged Equity of Persons that are not
Subsidiaries, transfer restrictions that exist at the time of acquisition of Equity Interests in such Persons (but not entered into in contemplation thereof), the Pledged Collateral is freely transferable and assignable, and none of the Pledged
Collateral is subject to any option, right of first refusal, shareholders agreement, charter or bylaw provisions or contractual restriction of any nature that could reasonably be expected to prohibit, impair, delay or otherwise affect, in each case,
in any manner material and adverse to the Secured Parties the pledge of such Pledged Collateral hereunder, the sale or disposition thereof pursuant hereto or the exercise by the Administrative Agent of rights and remedies hereunder; 

(e) the execution and performance by the Grantors of this Agreement are within each Grantor’s corporate or limited liability company
powers and have been duly authorized by all necessary corporate action or other organizational action; 
 (f) no approval, consent,
exemption, authorization or other action, filing, notice or registration is necessary to ensure the validity of the pledge effected hereby, except for (i) approvals, consents, exemptions, authorizations, or other actions by, or notices to, or
filings and registrations necessary to perfect the Liens on the Collateral granted by the Loan Parties in favor of the Secured Parties (or release existing Liens) under applicable U.S. law, (ii) the approvals, consents, exemptions,
authorizations, actions, notices and filings which have been duly obtained, taken, given or made and are in full force and effect (except to the extent not required to be obtained, taken, given or made or in full force and effect pursuant to the
Collateral and Guarantee Requirement) and (iii) those approvals, consents, exemptions, authorizations or other actions, notices or filings, the failure of which to obtain or make could not reasonably be expected to have a Material Adverse
Effect; 

  
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 (g) by virtue of the execution and delivery by each Grantor of this Agreement, and delivery of
the Pledged Equity to and continued possession by the Designated First Lien Representative (on behalf of the First Lien Administrative Agent in accordance with the terms of the Closing Date Intercreditor Agreement) in the State of New York, the
Administrative Agent (for the benefit of the Secured Parties) has a legal, valid and perfected second-priority lien upon and security interest in such Pledged Equity as security for the payment and performance of the Secured Obligations to the
extent such perfection is governed by the UCC, subject only to the provisions of the Closing Date Intercreditor Agreement, Liens permitted by Section 7.01 of the Credit Agreement and the Enforcement Qualifications; 

(h) by virtue of (i) the filing of UCC financing statements or other appropriate filings, recordings or registrations prepared by the
Administrative Agent based upon the information provided to the Administrative Agent in the Perfection Certificate for filing in the applicable filing office, in each case, as required by the Collateral and Guarantee Requirement and
Section 6.11 and 6.20 of the Credit Agreement and (ii) delivery of the Pledged Debt to and continued possession of the Pledged Debt by the Designated First Lien Representative (on behalf of the First Lien Administrative Agent in accordance
with the terms of the Closing Date Intercreditor Agreement) in the State of New York, the Administrative Agent (for the benefit of the Secured Parties) has a legal, valid and perfected security interest in respect of all Collateral in which the
Security Interest in the Pledged Debt may be perfected by filing or recording in the United States (or any political subdivision thereof) and its territories and possessions pursuant to the UCC or by possession of the Pledged Debt (subject, in each
case, to the Enforcement Qualifications); and 
 (i) subject to the terms of the Intercreditor Agreements, the pledge effected hereby is
effective to vest in the Administrative Agent, for the benefit of the Secured Parties, the rights set forth herein of the Administrative Agent in the Pledged Collateral. 

Subject to the terms of this Agreement and the Intercreditor Agreements, each Grantor hereby agrees that upon the occurrence and during the
continuance of an Event of Default, it will comply with instructions of the Administrative Agent with respect to the Equity Interests in such Grantor that constitute Pledged Equity hereunder without further consent by the applicable owner or holder
of such Equity Interests. 
 Notwithstanding anything to the contrary in this Agreement, to the extent any provision of this Agreement or
the Credit Agreement excludes any assets from the scope of the Pledged Collateral, or from any requirement to take any action to perfect any security interest in favor of the Administrative Agent in the Pledged Collateral, the representations,
warranties and covenants made by any relevant Grantor in this Agreement with respect to the creation, perfection or priority (as applicable) of the security interest granted in favor of the Administrative Agent (including, without limitation, this
Section 2.03) shall be deemed not to apply to such excluded assets. 
 Section 2.04. Certification of Limited Liability Company
and Limited Partnership Interests. No interest in any limited liability company or limited partnership 

  
 8 








 
controlled by any Grantor that constitutes Pledged Equity is, or shall be, represented by a certificate unless the limited liability company agreement or partnership agreement expressly provides
that such interests shall be a “security” within the meaning of Article 8 of the UCC; provided that, regardless of whether such Pledged Equity is a “security” within the meaning of Article 8 of the UCC, any and all certificates
evidencing such Pledged Equity shall, after Discharge of the First Lien Credit Agreement Obligations and subject to the terms of any Parity Intercreditor Agreement (if any), be delivered to the Administrative Agent in accordance with
Section 2.02. If any limited liability company or limited partnership controlled by any Grantor, the interest of which is pledged under Section 2.01, includes in its limited liability company agreement or partnership agreement that any
interests in such limited liability company or such limited partnership be a “security” as defined under Article 8 of the UCC, the applicable Grantor shall promptly certificate any Equity Interests in any such limited liability company or
such limited partnership. To the extent an interest in any limited liability company or limited partnership controlled by any Grantor and pledged under Section 2.01 is certificated or becomes certificated, (i) each such certificate shall,
after Discharge of the First Lien Credit Agreement Obligations and subject to the terms of any Parity Intercreditor Agreement (if any), be delivered to the Administrative Agent, pursuant to Section 2.02(a) and (ii) such Grantor shall
fulfill all other requirements under Section 2.02 applicable in respect thereof. To the extent an interest in any limited liability company or limited partnership controlled by any Grantor and pledged under Section 2.01 is an
“uncertificated security” as defined under Article 8 of the UCC, each Grantor shall not permit any issuer of such uncertificated securities (other than (x) an uncertificated security credited on the books of a Clearing Corporation or
Securities Intermediary and (y) an uncertificated security issued by a Person that is not a Restricted Subsidiary of the Borrower) to (i) enter into any agreement with any Person, other than the Administrative Agent, whereby such issuer
effectively delivers “control” of such uncertificated securities under the UCC to such Person, or (ii) allow such uncertificated securities to become “certificated securities”, as defined under Article 8 of the UCC, unless
such Grantor complies with the procedures set forth in this Section 2.04. 
 Section 2.05. Registration in Nominee Name;
Denominations. If an Event of Default shall have occurred and be continuing and the Administrative Agent shall have given the Borrower two (2) Business Days prior written notice of its intent to exercise such rights, (a) the
Administrative Agent, on behalf of the Secured Parties, shall (subject to the terms of the Intercreditor Agreements) have the right to hold the Pledged Equity in its own name as pledgee, the name of its nominee (as pledgee or as subagent) or the
name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent and each Grantor will promptly give to the Administrative Agent copies of any written notices or other written communications received by it with
respect to Pledged Equity registered in the name of such Grantor and (b) to the extent permitted by the documentation governing such Pledged Equity, the Administrative Agent shall have the right (subject to the terms of the Intercreditor
Agreements) to exchange the certificates representing Pledged Equity for certificates of smaller or larger denominations for any purpose consistent with this Agreement. 

  
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 Section 2.06. Voting Rights; Dividends and Interest. 

(a) Subject to the terms of the Intercreditor Agreements, unless and until an Event of Default shall have occurred and be continuing and the
Administrative Agent shall have provided two (2) Business Days prior written notice to the Borrower that the rights of the Grantor under this Section 2.06 are being suspended: 

(i) Each Grantor shall be entitled to exercise any and all voting and/or other consensual rights and powers inuring to an owner
of Pledged Securities or any part thereof and each Grantor agrees that it shall not exercise such rights in violation of this Agreement, the Credit Agreement and the other Loan Documents. 

(ii) The Administrative Agent shall promptly (after reasonable advance notice) execute and deliver to each Grantor, or cause to
be executed and delivered to such Grantor, all such proxies, powers of attorney and other instruments as such Grantor may reasonably request for the purpose of enabling such Grantor to exercise the voting and/or consensual rights and powers it is
entitled to exercise pursuant to subparagraph (i) above. 
 (iii) Each Grantor 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 Securities 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 Credit Agreement, the other Loan Documents and applicable Laws; provided that any noncash dividends, interest, principal or other distributions that would
constitute Pledged Equity or Pledged Debt, whether resulting from a subdivision, combination or reclassification of the outstanding Equity Interests of the issuer of any Pledged Securities or received in exchange for Pledged Securities or any part
thereof, or in redemption thereof, or as a result of any merger, consolidation, acquisition or other exchange of assets to which such issuer may be a party or otherwise, shall be and become part of the Pledged Collateral, and, if received by any
Grantor, shall be held for the benefit of the Administrative Agent and the Secured Parties and shall (subject to the terms of the Intercreditor Agreements) be promptly (and in any event within 10 Business Days or such longer period as the
Administrative Agent may agree in its reasonable discretion) delivered to the Administrative Agent in the same form as so received (with any endorsement reasonably requested by the Administrative Agent). So long as no Event of Default has occurred
and is continuing, the Administrative Agent shall promptly deliver to each Grantor any Pledged Securities in its possession if requested to be delivered to the issuer thereof in connection with any exchange or redemption of such Pledged Securities
permitted by the Credit Agreement in accordance with this Section 2.06(a)(iii). 
 (b) Subject to the terms of the Intercreditor Agreements,
upon the occurrence and during the continuance of an Event of Default, after the Administrative Agent shall 

  
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have notified the Borrower of the suspension of the Grantors’ rights under paragraph (a)(iii) of this Section 2.06, then all rights of any Grantor to dividends, interest, principal or
other distributions that such Grantor is authorized to receive pursuant to paragraph (a)(iii) of this Section 2.06 shall cease, and all such rights shall thereupon become vested in the Administrative Agent, which (subject to the terms of the
Intercreditor Agreements) shall have the sole and exclusive right and authority to receive and retain such dividends, interest, principal or other distributions. All dividends, interest, principal or other distributions received by any Grantor
contrary to the provisions of this Section 2.06 shall be held for the benefit of the Administrative Agent and the Secured Parties and shall (subject to the terms of the Intercreditor Agreements) be promptly (and in any event within 10 Business
Days or such longer period as the Administrative Agent may agree in its reasonable discretion) delivered to the Administrative Agent upon demand in the same form as so received (with any endorsement reasonably requested by the Administrative Agent).
Any and all money and other property paid over to or received by the Administrative Agent pursuant to the provisions of this paragraph (b) shall be retained by the Administrative Agent in an account to be established by the Administrative Agent
upon receipt of such money or other property and (subject to the terms of the Intercreditor Agreements) shall be applied in accordance with the provisions of Section 4.02. After all Events of Default have been cured or waived, the
Administrative Agent shall promptly repay to each Grantor (without interest) all dividends, interest, principal or other distributions that such Grantor would otherwise be permitted to retain pursuant to the terms of paragraph (a)(ii) of this
Section 2.06 and that remain in such account. 
 (c) Subject to the terms of the Intercreditor Agreements, upon the occurrence and
during the continuance of an Event of Default, after the Administrative Agent shall have provided the Borrower with notice of the suspension of its rights under paragraph (a)(i) of this Section 2.06, then all rights of any Grantor to exercise
the voting and consensual rights and powers it is entitled to exercise pursuant to paragraph (a)(i) of this Section 2.06, and the obligations of the Administrative Agent under paragraph (a)(ii) of this Section 2.06, shall cease, and all
such rights shall thereupon become vested in the Administrative Agent, which shall have the sole and exclusive right and authority to exercise such voting and consensual rights and powers; provided that, unless otherwise directed by the
Required Lenders, the Administrative Agent shall have the right from time to time following and during the continuance of an Event of Default to permit the Grantors to exercise such rights. After all Events of Default have been cured or waived, each
Grantor shall have the exclusive right to exercise the voting and/or consensual rights and powers that the Borrower would otherwise be entitled to exercise pursuant to the terms of paragraph (a)(i) above, and the obligations of the Administrative
Agent under paragraph (a)(ii) of this Section 2.06 shall be reinstated. 
 (d) In order to permit the Administrative Agent to exercise
the voting and other consensual rights which it may be entitled to exercise pursuant hereto and to receive all dividends and other distributions which it may be entitled to receive hereunder, each Grantor shall promptly execute and deliver (or cause
to be executed and delivered) to the Administrative Agent all proxies, dividend payment orders and other instruments as the Administrative Agent may from time to time reasonably request, but in any event solely


  
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after an Event of Default has occurred and is continuing, and after having provided required notice to Borrower of its desire to exercise its rights hereunder, and each Grantor acknowledges that
the Administrative Agent may (subject to the terms of the Intercreditor Agreements) utilize the power of attorney set forth in Section 6.13 herein in accordance with the terms thereof. 

(e) Any notice given by the Administrative Agent to the Borrower under Section 2.05 or this Section 2.06 (i) shall be given in
writing, (ii) may be given with respect to one or more Grantors at the same or different times, (iii) may suspend the rights of the Grantors under paragraph (a)(i) or paragraph (a)(iii) of this Section 2.06 in part without suspending
all such rights (as specified by the Administrative Agent in its sole and absolute discretion) and without waiving or otherwise affecting the Administrative Agent’s rights to give additional notices from time to time suspending other rights so
long as an Event of Default has occurred and is continuing and (iv) shall be given in accordance with any applicable Intercreditor Agreement. 

ARTICLE 3 
 SECURITY
INTERESTS IN PERSONAL PROPERTY 
 Section 3.01. Security Interest.

 (a) As security for the payment or performance in full of the Secured Obligations, including the Guaranteed Obligations, each Grantor
hereby pledges to the Administrative Agent, its successors and permitted assigns, for the benefit of the Secured Parties, and hereby grants to the Administrative Agent, its successors and permitted assigns, for the benefit of the Secured Parties, a
security interest (the “Security Interest”) in, all right, title or interest in or to any and all of the following assets and properties now owned or at any time hereafter acquired by such Grantor or in which such Grantor 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 Documents; 

(iv) all Equipment and Fixtures; 

(v) all General Intangibles; 

(vi) all Goods; 

(vii) all Instruments; 

(viii) all Inventory; 

(ix) all Investment Property; 

  
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 (x) all Letter-of-Credit Rights to the extent constituting a Supporting
Obligation for other Article 9 Collateral as to which perfection of security interests in such Article 9 Collateral is accomplished solely by the filing of a UCC financing statement; 

(xi) all books and records pertaining to the Article 9 Collateral; 

(xii) all Intellectual Property and Licenses; and 

(xiii) to the extent not otherwise included, all Proceeds, products, accessions, rents and profits of any and all of the
foregoing and all Supporting Obligations, collateral security and guarantees given by any Person with respect to any of the foregoing; 
 provided
that, notwithstanding anything to the contrary in this Agreement, (i) this Agreement shall not constitute a grant of a security interest in any Excluded Assets and (ii) the Article 9 Collateral (nor any defined term therein) shall not
include any Excluded Assets. 
 (b) Subject to Section 3.01(e), each Grantor hereby irrevocably authorizes the Administrative
Agent for the benefit of the Secured Parties at any time and from time to time to file in any relevant jurisdiction any financing statements with respect to the Collateral or any part thereof and amendments thereto and continuations thereof that
(i) indicate the Collateral as “all assets of the debtor, whether now existing or hereafter arising” or words of similar effect as being of an equal or lesser scope or with greater detail and (ii) contain the information required
by Article 9 of the UCC or the analogous legislation of each applicable jurisdiction for the filing of any financing statement or amendment, including whether such Grantor is an organization, the type of organization and, if required, any
organizational identification number issued to such Grantor. Each Grantor agrees to provide such information to the Administrative Agent promptly upon any reasonable request. 

(c) The Security Interest is granted as security only and shall not subject the Administrative Agent or any other Secured Party to, or in any
way alter or modify, any obligation or liability of any Grantor with respect to or arising out of the Collateral; provided that the foregoing will not limit or otherwise affect the obligations and liabilities of the Grantors to the extent set
forth herein and in the other Loan Documents. 
 (d) Upon three (3) Business Days prior written notice to the applicable Grantor, the
Administrative Agent is authorized to file with the USPTO or the USCO (or any successor office) any additional documents (including any Intellectual Property Security Agreements and/or supplements thereto) as may be necessary for the purpose of
perfecting, confirming, continuing, enforcing (subject to the terms of the Intercreditor Agreements) or protecting the Security Interest in United States Intellectual Property of each Grantor in which a security interest has been granted by each
Grantor, and naming any Grantor as debtor and the Administrative Agent as secured party. 

  
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 (e) Notwithstanding anything to the contrary in the Loan Documents, none of the Grantors shall be
required, nor is the Administrative Agent authorized, (i) to perfect the Security Interests granted by this Agreement (including Security Interests in Investment Property and Fixtures) by any means other than by (A) filings pursuant to the
UCC in the office of the secretary of state (or similar central filing office) of the relevant State(s), and filings in the applicable real estate records with respect to any fixtures relating to Mortgaged Property to the extent required by the
Collateral and Guarantee Requirement, (B) filings in United States government offices with respect to Intellectual Property of Grantor as expressly required elsewhere herein, (C) delivery to the Administrative Agent to be held in its
possession of all Collateral consisting of Instruments or certificated Pledged Collateral as expressly required and subject to the limitations specified elsewhere herein or (D) other methods expressly provided herein, (ii) to enter into
any deposit account control agreement, securities account control agreement or any other control agreement with respect to any deposit account, securities account or any other Collateral that requires perfection by “control,” (iii) to
take any action (other than the actions listed in clauses (i)(A) and (C) above) with respect to any assets located outside of the United States or any other assets, including any Intellectual Property registered in any non-U.S. jurisdiction
(and no security agreements or pledge agreements governed under the laws of any non-U.S. jurisdiction shall be required), (iv) to perfect in any assets subject to a certificate of title statute or (v) to deliver any Equity Interests except
as expressly provided in Section 2.02. 
 Section 3.02. Representations and Warranties. Each Grantor, jointly and severally
represents and warrants, to the Administrative Agent and the Secured Parties that: 
 (a) Each Grantor has good and valid rights in and
title (except as otherwise permitted by the Loan Documents) to the Article 9 Collateral with respect to which it has purported to grant a Security Interest hereunder and has full organizational power and authority to grant to the Administrative
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 Governmental Authority other than
(i) any consent or approval that has been obtained or (ii) any consent or approval the lack thereof could not reasonably be expected to cause a Material Adverse Effect. 

(b) The Perfection Certificate has been duly prepared, completed and executed and the information set forth therein is correct and complete in
all material respects (except the information therein with respect to the exact legal name of each Grantor shall be correct and complete in all respects) as of the Closing Date. The UCC financing statements or other appropriate filings, recordings
or registrations prepared by the Administrative Agent based upon the information provided to the Administrative Agent in the Perfection Certificate for filing in the applicable filing office (or specified by notice from the Borrower to the
Administrative Agent after the Closing Date in the case of filings, recordings or registrations (other than filings required to be made in the USPTO and the USCO in order to perfect the Security Interest in Article 9 Collateral consisting of United
States Patents, Trademarks and Copyrights), in each case, as required by the 

  
 14 








 
Collateral and Guarantee Requirement and Section 6.11 and 6.20 of the Credit Agreement), are all the filings, recordings and registrations that are necessary to establish a legal, valid and
perfected security interest in favor of the Administrative Agent (for the benefit of the Secured Parties) in respect of all 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 pursuant to the UCC. 
 (c) Each Grantor represents and warrants that the
Intellectual Property Security Agreements containing a description of all Article 9 Collateral consisting of Registered Intellectual Property Collateral (other than, in each case, any Excluded Assets), have been delivered as of or prior to the date
hereof to the Administrative Agent for recording by the USPTO and the USCO pursuant to 35 U.S.C. § 261, 15 U.S.C. § 1060 or 17 U.S.C. § 205 and the regulations thereunder, as applicable, (for the benefit of the Secured Parties) in
respect of all Article 9 Collateral consisting of Registered Intellectual Property Collateral to the extent required by this Agreement or the Credit Agreement. To the extent a security interest may be perfected by filing, recording or registration
in USPTO or USCO under the U.S. Federal intellectual property laws, then no further or subsequent filing, re-filing, recording, rerecording, registration or reregistration is necessary (other than (i) such filings and actions as are necessary
to perfect the Security Interest with respect to any Article 9 Collateral consisting of Registered Intellectual Property Collateral (or registration or application for registration thereof) acquired, owned, filed or developed by any Grantor after
the date hereof and (ii) the UCC financing and continuation statements contemplated in Section 3.02(b)). 
 (d) The Security
Interest constitutes (i) a legal and valid security interest in all the Article 9 Collateral securing the payment and performance of the Secured Obligations, (ii) subject to the filings described in Section 3.02(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) pursuant to the
UCC, and (iii) subject to the filings described in Section 3.02(c), a perfected security interest in all Intellectual Property included in the Article 9 Collateral in which a security interest may be perfected by filing, recording or
registering a security agreement or analogous document with the USPTO or the USCO, as applicable. The Security Interest is and shall be prior to any other Lien on any of the Article 9 Collateral, other than any Liens permitted pursuant to
Section 7.01 of the Credit Agreement. 
 (e) The Article 9 Collateral is owned by the Grantors free and clear of any Lien, except for
Liens permitted pursuant to Section 7.01 of the Credit Agreement. None of the Grantors has filed or consented to the filing of (i) any assignment in which any Grantor assigns any Article 9 Collateral or any security agreement or similar
instrument covering any Article 9 Collateral with the USPTO or the USCO or (ii) any assignment in which any Grantor assigns any Collateral or any security agreement or similar instrument covering any 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 Liens expressly permitted pursuant to Section 7.01 of the Credit
Agreement and assignments expressly permitted by the Credit Agreement. 

  
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 (f) [Reserved]. 

(g) As of the date hereof, Schedule IV lists the locations at which more than $2,500,000 (per location) of Inventory and Equipment
(other than (x) mobile goods, (y) Inventory or Equipment in transit or out for repair or refurbishment, and (z) Inventory and Equipment in the possession of employees or customers of the Grantors in the ordinary course of business) of
the Grantors are kept. 
 Section 3.03. Covenants. 

(a) The Borrower agrees to notify the Administrative Agent in writing (x) promptly, but in any event within 5 Business Days prior to (or
such longer period as the Administrative Agent may agree in its reasonable discretion), any change in (i) the legal name of any Grantor, (ii) the identity or type of organization or corporate structure of any Grantor, or (iii) the
jurisdiction of organization of any Grantor and (y) promptly, but at any event within twenty (20) Business Days (or such longer period as the Administrative Agent may agree in its reasonable discretion) after any change in (i) the
chief executive office of any Grantor or (ii) the organizational identification number of such Grantor, if any. 
 (b) Subject to
Section 3.01(e), each Grantor shall, at its own expense, upon the reasonable request of the Administrative Agent, take any and all commercially reasonable actions necessary to defend title to the Collateral against all Persons and to defend the
Security Interest of the Administrative Agent in the Article 9 Collateral and the priority thereof against any Lien not permitted pursuant to Section 7.01 of the Credit Agreement; provided that, nothing in this Agreement shall prevent
any Grantor from discontinuing the operation or maintenance of any of its assets or properties if such discontinuance is permitted by the Credit Agreement. 

(c) Subject to Section 3.01(e) and the terms of the Intercreditor Agreements, each Grantor agrees, at its own expense, to promptly
execute, acknowledge, deliver and cause to be filed all such further instruments and documents and take all such actions as the Administrative 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 reasonably required in connection with the execution and delivery of this Agreement, the granting of the Security Interest and the filing of
any financing statements or other documents in connection herewith or therewith. Notwithstanding the foregoing, nothing in this Agreement or in any other Loan Document shall require any Grantor to make any filings or take any other actions in any
jurisdiction outside of the United States to record or perfect the Administrative Agent’s security interest in any Intellectual Property of any Grantor. 

(d) At its option after the occurrence and during the continuance of an Event of Default, upon five (5) Business Days’ prior written
notice to the Grantors, the 

  
 16 








 
Administrative Agent may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral and not permitted
pursuant to Section 7.01 of the Credit Agreement, and may pay for the maintenance and preservation of the Collateral to the extent any Grantor fails to do so as required by the Credit Agreement or any other Loan Document and within a reasonable
period of time after the Administrative Agent has required that it do so, and each Grantor jointly and severally agrees to reimburse the Administrative Agent pursuant to the terms of the Credit Agreement; provided, however, the
Grantors shall not be obligated to reimburse the Administrative Agent with respect to any Intellectual Property that any Grantor has failed to maintain or pursue, or otherwise allowed to lapse, terminate or be put into the public domain in
accordance with Section 3.03(f)(iv). Nothing in this paragraph shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Administrative Agent or any Secured Party to cure or perform, any covenants
or other promises of any Grantor with respect to taxes, assessments, charges, fees, Liens, security interests or other encumbrances and maintenance as set forth herein or in the other Loan Documents. 

(e) If at any time any Grantor shall take a security interest in any property of an Account Debtor or any other Person the value of which is
in excess of $2,500,000 to secure payment and performance of an Account, such Grantor shall promptly grant a security interest to the Administrative Agent for the benefit of the Secured Parties; provided that, notwithstanding anything to the
contrary in this Agreement, such grant shall not constitute a grant of a security interest in any Excluded Assets. Such grant need not be filed of public record unless necessary to continue the perfected status of the security interest against
creditors of and transferees from the Account Debtor or other Person granting the security interest. 
 (f) Intellectual Property Covenants.

 (i) Other than to the extent not prohibited herein or in the Credit Agreement, or with respect to registrations and
applications no longer used or useful, or except to the extent failure to act would not, as deemed by the applicable Grantor in its reasonable business judgment, reasonably be expected to have a Material Adverse Effect, with respect to each
registration or pending application of each item of its Intellectual Property for which such Grantor has standing to do so, each Grantor agrees to take, at its expense, all reasonable steps, including, without limitation, in the USPTO, the USCO and
any other governmental authority located in the United States, to pursue the registration and maintenance of each Patent, Trademark, or Copyright registration or application now or hereafter included in the Intellectual Property owned by such
Grantor that are not Excluded Assets. 
 (ii) Other than to the extent not prohibited herein or in the Credit Agreement, or
with respect to registrations and applications no longer used or useful, or except as would not, as deemed by the applicable Grantor in its reasonable business judgment, reasonably be expected to have a Material Adverse Effect, no Grantor shall do
or permit any act or knowingly omit to do any act 

  
 17 








 
whereby any Intellectual Property owned by such Grantor, excluding Excluded Assets, may lapse, be terminated, become invalid or unenforceable or placed in the public domain (or in the case of a
trade secret, become publicly known). 
 (iii) Other than as excluded or as not prohibited herein or in the Credit Agreement,
or with respect to Patents, Copyrights or Trademarks which are no longer used or useful in the applicable Grantor’s business operations, or except where failure to do so would not, as deemed by the applicable Grantor in its reasonable business
judgment, reasonably be expected to have a Material Adverse Effect, each Grantor shall take all reasonable steps to preserve and protect each item of Intellectual Property owned by such Grantor, including, without limitation, maintaining the quality
of any and all products or services used or provided in connection with any of the Trademarks owned by such Grantor, consistent with the quality of the products and services as of the Closing Date, and taking reasonable steps necessary to ensure
that all licensed users of any of the Trademarks abide by the applicable license’s terms with respect to standards of quality. 

(iv) Notwithstanding any other provision of this Agreement, nothing in this Agreement or any other Loan Document prevents or
shall be deemed to prevent any Grantor from disposing of, discontinuing the use or maintenance of, failing to pursue, or otherwise allowing to lapse, terminate or be put into the public domain, any of its Intellectual Property to the extent
permitted by the Credit Agreement if such Grantor determines in its reasonable business judgment that such discontinuance is desirable in the conduct of its business. 

(v) Within the same delivery period as required for the delivery of the annual Compliance Certificate required to be delivered
under Section 6.02 of the Credit Agreement, the Borrower shall provide a list of any Registered Intellectual Property Collateral owned by all Grantors not listed in any Intellectual Property Security Agreement previously delivered to the
Administrative Agent, together with supplemental Intellectual Property Security Agreements covering all such Registered Intellectual Property Collateral duly executed by such Grantors and in proper form for recording, and shall promptly file and
record such supplemental Intellectual Property Security Agreements with the USPTO or the USCO, as applicable. 
 ARTICLE 4 

REMEDIES 

Section 4.01. Remedies Upon Default. Upon the occurrence and during the continuance of an Event of Default, it is agreed that the
Administrative Agent shall have the right (subject to the terms of the Intercreditor Agreements) to exercise any and all rights afforded to a secured party with respect to the Secured Obligations, including the Guarantees, under the UCC or other
applicable Law or in equity and also may (i) require each Grantor to, and each Grantor agrees that it will at its expense and upon request of 

  
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the Administrative Agent, promptly assemble all or part of the Collateral as directed by the Administrative Agent and make it available to the Administrative Agent at a place and time to be
designated by the Administrative Agent that is reasonably convenient to both parties; (ii) occupy any premises owned or, to the extent lawful and permitted, leased by any of the Grantors where the Collateral or any part thereof is assembled or
located for a reasonable period in order to effectuate its rights and remedies hereunder or under Law, without obligation to such Grantor in respect of such occupation; provided that the Administrative Agent shall provide the applicable Grantor with
written notice thereof prior to such occupancy; (iii) exercise any and all rights and remedies of any of the Grantors under or in connection with the Collateral, or otherwise in respect of the Collateral; provided that the Administrative Agent
shall provide the applicable Grantor with written notice thereof prior to such exercise; and (iv) subject to the mandatory requirements of applicable Law and the notice requirements described below, sell or otherwise dispose of all or any part
of the Collateral securing the Secured Obligations 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 Administrative Agent shall deem appropriate. The
Administrative Agent shall be authorized (subject to the terms of the Intercreditor Agreements) at any such sale of securities (if it deems it advisable to do so) to restrict the prospective bidders or purchasers to Persons who will represent and
agree that they are purchasing the Collateral for their own account for investment and not with a view to the distribution or sale thereof, and upon consummation of any such sale the Administrative 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 sale of Collateral shall hold the property sold absolutely, free from any claim or right on the part of any Grantor, and each Grantor hereby waives (to
the extent permitted by Law) all rights of redemption, stay and appraisal which such Grantor now has or may at any time in the future have under any Law now existing or hereafter enacted. 

The Administrative Agent shall give the applicable Grantors 10 days’ written notice (which each Grantor agrees is commercially reasonable
notice within the meaning of Section 9-611 of the UCC or its equivalent in other jurisdictions) of the Administrative 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 Administrative Agent may fix and state in the notice (if any) of such sale. At any such
sale, the Collateral, or portion thereof, to be sold may be sold in one lot as an entirety or in separate parcels, as the Administrative Agent may (in its sole and absolute discretion but subject to the terms of the Intercreditor Agreements)
determine. The Administrative 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 Administrative 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 

  
 19 








 
same was so adjourned. In case any sale of all or any part of the Collateral is made on credit or for future delivery, the Collateral so sold may (subject to the terms of the Intercreditor
Agreements) be retained by the Administrative Agent until the sale price is paid by the purchaser or purchasers thereof, but the Administrative Agent shall not incur any liability in case any such purchaser or purchasers shall fail to take up and
pay for the Collateral so sold and, in case of any such failure, such Collateral may be sold again upon like notice. At any public (or, to the extent permitted by applicable Law, private) sale made pursuant to this Agreement, any Secured Party may
bid for or purchase, free (to the extent permitted by applicable Law) from any right of redemption, stay, valuation or appraisal on the part of any Grantor (all said rights being also hereby waived and released to the extent permitted by applicable
Law), the Collateral or any part thereof offered for sale and may make payment on account thereof by using any claim then due and payable to such Secured Party from any Grantor as a credit against the purchase price, and such Secured Party may, upon
compliance with the terms of sale, hold, retain and dispose of such property without further accountability to any Grantor therefor. For purposes hereof, a written agreement to purchase the Collateral or any portion thereof shall be treated as a
sale thereof; the Administrative Agent shall (subject to the terms of the Intercreditor Agreements) be free to carry out such sale pursuant to such agreement and no Grantor shall be entitled to the return of the Collateral or any portion thereof
subject thereto, notwithstanding the fact that after the Administrative Agent shall have entered into such an agreement all Events of Default shall have been remedied and the Secured Obligations paid in full. As an alternative to exercising the
power of sale herein conferred upon it, the Administrative Agent may (subject to the terms of the Intercreditor Agreements) 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 4.01 shall be deemed to conform to the
commercially reasonable standards as provided in Section 9-610(b) of the UCC or its equivalent in other jurisdictions. 

Section 4.02. Application of Proceeds. The Administrative Agent shall apply the proceeds of any collection or sale of Collateral,
including any Collateral consisting of cash in accordance with Section 8.03 of the Credit Agreement and subject to the terms of the Intercreditor Agreements. 

The Administrative 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 Administrative Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the Administrative 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 Administrative Agent or such
officer or be answerable in any way for the misapplication thereof. 
 The Administrative Agent shall have no liability to any of the
Secured Parties for actions taken in reliance on information supplied to it as to the amounts of unpaid 

  
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principal and interest and other amounts outstanding with respect to the Secured Obligations, provided that nothing in this sentence shall prevent any Grantor from contesting any amounts
claimed by any Secured Party in any information so supplied. All distributions made by the Administrative Agent pursuant to this Section 4.02 shall be final (absent manifest error). 

Section 4.03. Grant of License to Use Intellectual Property. For the exclusive purpose of enabling the Administrative Agent to
exercise rights and remedies under this Agreement at and during the continuance of such time as the Administrative Agent shall be lawfully entitled to exercise such rights and remedies at any time after and during the continuance of an Event of
Default, subject to the terms of the Intercreditor Agreements, each Grantor hereby grants to the Administrative Agent a nonexclusive, royalty-free, limited license (exercisable until the termination or cure of the Event of Default) to use, license
or sublicense any of the Intellectual Property now owned or hereafter acquired by such Grantor or for which such Grantor has the ability to grant sublicenses, and wherever the same may be located, and including in such license reasonable access to
all media in which any of the licensed items may be recorded or stored and to all computer software used for the compilation or printout thereof; provided, however, that all of the foregoing rights of the Administrative Agent to use such licenses,
sublicenses and other rights, and (to the extent permitted by the terms of such licenses and sublicenses) all licenses and sublicenses granted thereunder, shall expire immediately upon the termination or cure of all Events of Default (together with
the Borrower’s written notice to the Administrative Agent of such termination or cure) and shall be exercised by the Administrative Agent solely in connection with the Administrative Agent’s exercise of remedies pursuant to
Section 4.01 and, to the extent reasonably practicable, upon prior written notice to the Borrower, and nothing in this Section 4.03 shall require Grantors to grant any license that is prohibited by any rule of law, statute or regulation,
or is prohibited by, or constitutes a breach or default under or results in the termination of any contract, license, agreement, instrument or other document evidencing, giving rise to or theretofore granted, to the extent permitted by the Credit
Agreement, with respect to such property or otherwise unreasonably prejudices the value thereof to the relevant Grantor; provided, further, that any such license and any such license granted by the Administrative Agent to a third party shall include
reasonable and customary terms and conditions necessary to preserve the existence, validity and enforceability of the affected Intellectual Property, including provisions requiring the continuing confidential handling of trade secrets, requiring the
use of appropriate notices and prohibiting the use of false notices, quality control and inurement provisions with regard to Trademarks, patent designation provisions with regard to Patents, copyright notices and restrictions on decompilation and
reverse engineering of copyrighted software (it being understood and agreed that, without limiting any other rights and remedies of the Administrative Agent under this Agreement, any other Loan Document or applicable Law, nothing in the foregoing
license grant shall be construed as granting the Administrative Agent rights in and to such Intellectual Property above and beyond (x) the rights to such Intellectual Property that each Grantor has reserved for itself and (y) in the case
of Intellectual Property that is licensed to any such Grantor by a third party, the extent to which such Grantor has the right to grant a sublicense to such Intellectual Property hereunder). For the avoidance of doubt, the use of


  
 21 








 
such license by the Administrative Agent may be exercised, subject to the terms of the Intercreditor Agreements, at the option of the Administrative Agent, only during the continuance of an Event
of Default. Subject to the terms of the Intercreditor Agreements, upon the occurrence and during the continuance of an Event of Default, the Administrative Agent may also exercise the rights afforded under Section 4.01 of this Agreement with
respect to Intellectual Property contained in the Article 9 Collateral. 
 Section 4.04. Effect of Securities Laws. Each Grantor
recognizes that the Administrative Agent may be unable to effect a public sale of any or all of the Pledged Collateral by reason of certain prohibitions contained in the Securities Act and applicable state securities laws or otherwise, and may be
compelled to resort to one or more private sales thereof to a restricted group of purchasers which will be obliged to agree, among other things, to acquire such securities for their own account for investment and not with a view to the distribution
or resale thereof. Each Grantor acknowledges and agrees that any such private sale may result in prices and other terms less favorable than if such sale were a public sale and, notwithstanding such circumstances, agrees that any such private sale
shall be deemed to have been made in a commercially reasonable manner. The Administrative Agent shall be under no obligation to delay a sale of any of the Pledged Collateral for the period of time necessary to permit the applicable issuer thereof to
register such securities for public sale under the Securities Act, or under applicable state securities laws, even if such issuer would agree to do so. 

Section 4.05. Deficiency. Each Grantor shall remain liable for any deficiency if the proceeds of any sale or other disposition of
the Collateral are insufficient to pay its Secured Obligations and, to the extent set forth herein and in the other Loan Documents, the fees and disbursements of any attorneys employed by any Secured Party to collect such deficiency. 

ARTICLE 5 

SUBORDINATION 

Section 5.01. Subordination. 

(a) Notwithstanding any provision of this Agreement to the contrary, all rights of the Grantors to indemnity, contribution or subrogation
under applicable Law or otherwise shall be fully subordinated to the payment in full of the Obligations (other than contingent indemnification obligations as to which no claim has been asserted). No failure on the part of the Borrower or any Grantor
to make the payments required under applicable Law or otherwise shall in any respect limit the obligations and liabilities of any Grantor with respect to its obligations hereunder, and each Grantor shall remain liable for the full amount of the
Obligations of such Grantor hereunder. 
 (b) Each Grantor hereby agrees that upon the occurrence and during the continuance of an Event of
Default and after written notice from the Administrative Agent, all Indebtedness owed to it by any other Grantor shall be fully subordinated to the payment in full of the Obligations (other than contingent indemnification obligations as to which no
claim has been asserted). 

  
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 ARTICLE 6

MISCELLANEOUS 

Section 6.01. Notices. All communications and notices hereunder shall (except as otherwise expressly permitted herein) be in
writing and given as provided in Section 10.02 of the Credit Agreement. All communications and notices hereunder to the Borrower or any other Grantor shall be given to it in care of the Borrower as provided in Section 10.02 of the Credit
Agreement. 
 Section 6.02. Waivers; Amendment. 

(a) No failure or delay by any Secured Party in exercising any right, remedy, power or privilege hereunder or under any other Loan Document
shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The
rights, remedies, powers and privileges of the Secured Parties herein provided, and provided under each other Loan Document, are cumulative and are not exclusive of any rights, remedies, powers and privileges provided by Law. No waiver of any
provision of this Agreement or consent to any departure by any Grantor therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section 6.02, and then such waiver or consent shall be effective
only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan shall not be construed as a waiver of any Default or Event of Default, regardless of whether any Secured Party
may have had notice or knowledge of such Default or Event of Default at the time. 
 (b) Subject to the terms of the Intercreditor
Agreements, neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Administrative Agent and the Grantor or Grantors with respect to which such
waiver, amendment or modification is to apply, subject to the Collateral and Guarantee Requirement and any consent required in accordance with Section 10.01 of the Credit Agreement. 

Section 6.03. Administrative Agent’s Fees and Expenses; Indemnification. 

(a) The parties hereto agree that the Administrative Agent shall be entitled to reimbursement of its reasonable and documented out-of-pocket
expenses incurred hereunder and indemnity for its actions in connection herewith as provided in Sections 10.04 and 10.05 of the Credit Agreement. 

(b) Any such amounts payable as provided hereunder shall be additional Secured Obligations secured hereby and by the other Collateral
Documents. The provisions of this Section 6.03 shall remain operative and in full force and effect regardless of the termination of this Agreement or any other Loan Document, the consummation of the transactions contemplated hereby, the
repayment of any of the Secured Obligations, the invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document, or any investigation made by or on behalf of the


  
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Administrative Agent or any other Secured Party. All amounts due under this Section 6.03 shall be payable within 30 days of written demand therefor (including documentation reasonably
supporting such request). 
 Section 6.04. Successors and Assigns. The provisions of this Agreement shall be binding upon and
inure to the benefit of the parties here to and their respective successors and assigns. 
 Section 6.05. Survival of Agreement.
All covenants, agreements, representations and warranties made by the Grantors hereunder and in the other Loan Documents and in the certificates or other instruments prepared or delivered in connection with or pursuant to this Agreement shall be
considered to have been relied upon by the Secured Parties and shall survive the execution and delivery of the Loan Documents and the making of any Loans, regardless of any investigation made by any Secured Party or on its behalf and notwithstanding
that any Secured Party may have had notice or knowledge of any Default or Event of Default at the time any credit is extended under the Credit Agreement, and shall continue in full force and effect as long as this Agreement has not been terminated
or released pursuant to Section 6.11 below. 
 Section 6.06. Counterparts; Effectiveness; Several Agreement. This Agreement
may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery by facsimile or other electronic communication of an executed counterpart of a
signature page to this Agreement shall be effective as delivery of an original executed counterpart of this Agreement. This Agreement shall become effective as to any Grantor when a counterpart hereof executed on behalf of such Grantor shall have
been delivered to the Administrative Agent and a counterpart hereof shall have been executed on behalf of the Administrative Agent, and thereafter shall be binding upon such Grantor and the Administrative Agent and their respective permitted
successors and assigns, and shall inure to the benefit of such Grantor, the Administrative Agent and the other Secured Parties and their respective permitted successors and assigns, except that no Grantor shall have the right to assign or transfer
its rights or obligations hereunder or any interest herein (and any such assignment or transfer shall be void) without the prior written consent of the Administrative Agent, except to the extent permitted by the Credit Agreement. This Agreement
shall be construed as a separate agreement with respect to each Grantor and may be amended, restated, modified, supplemented, waived or released with respect to any Grantor without the approval of any other Grantor and without affecting the
obligations of any other Grantor hereunder. 
 Section 6.07. Severability. If any provision of this Agreement is held to be
illegal, invalid or unenforceable, the legality, validity and enforceability of the remaining provisions of this Agreement shall not be affected or impaired thereby. The invalidity of a provision in a particular jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction. 

  
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 Section 6.08. Governing Law; Jurisdiction; Venue; Waiver of Jury Trial; Consent to
Service of Process. 
 (a) The terms of Sections 10.15 and 10.16 of the Credit Agreement with respect to governing law, submission of
jurisdiction, venue and waiver of jury trial are incorporated herein by reference, mutatis mutandis, and the parties hereto agree to such terms. 

(b) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 6.01. Nothing
in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by Law. 

Section 6.09. 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 6.10. Security Interest Absolute. To the extent permitted by Law, all rights of the Administrative Agent hereunder, the
Security Interest, the grant of a security interest in the Collateral and all obligations of each Grantor hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of the Credit Agreement, any
other Loan Document, any agreement with respect to any of the Secured 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 Secured Obligations, or any other amendment or waiver of or any consent to any departure from the Credit Agreement, any other Loan 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 Secured Obligations or (d) any other circumstance that might otherwise constitute a
defense (other than defense of payment or performance) available to, or a discharge of, any Grantor in respect of the Secured Obligations or this Agreement. 

Section 6.11. Termination, Release or Subordination. 

(a) This Agreement (other than with respect to provisions hereof that expressly survive termination), the Security Interest and all other
security interests granted hereby shall terminate with respect to all Secured Obligations and any Liens arising therefrom shall be automatically released upon termination of the Aggregate Commitments and payment in full of all Secured Obligations
and the expiration or termination of all Letters of Credit (other than, in each case, contingent indemnification obligations as to which no claim has been asserted). 

(b) A Subsidiary Party shall automatically be released from its obligations hereunder and the Security Interest and any Liens granted herein
to the Administrative Agent in the Collateral of such Subsidiary Party shall be automatically released upon the consummation of any transaction permitted by and in accordance with the terms of the Credit Agreement as a result of which such
Subsidiary Party ceases to be a Restricted Subsidiary of the Borrower or or otherwise becomes a Transferred Guarantor that is released from its obligations hereunder pursuant to, and in accordance with the requirements of, Section 11.09 of the
Credit Agreement. 

  
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 (c) Upon any Disposition by any Grantor of any Collateral that is permitted under and in
accordance with the terms of the Credit Agreement (other than a sale or transfer to another Loan Party), or upon the effectiveness of any written consent to the release of the security interest granted hereby in any Collateral pursuant to
Section 10.01 of the Credit Agreement, the security interest in such Collateral shall be automatically released. 
 (d) The security
interest granted hereby in any Collateral shall be subordinated to another Lien permitted by Section 7.01 of the Credit Agreement which is to be senior to the Liens securing the Secured Obligations, in accordance with the terms of
Section 9.10(c) of the Credit Agreement, either (i) upon an election by the Administrative Agent to subordinate such security interest or (ii) in respect of Liens permitted by Sections 7.01(b), (u), (w) (with respect to assumed
Indebtedness), (aa) (with respect to Sections 7.01(b), (u), and (w) (as to assumed Indebtedness) of the Credit Agreement) and (bb) of the Credit Agreement, upon the Borrower’s reasonable request (with Administrative Agent’s consent,
not to be unreasonably withheld, delayed or conditioned). 
 (e) Subject to the terms of the Closing Date Intercreditor Agreement, the
security interest granted hereby in any Collateral shall automatically be released if the security interest granted in the Collateral pursuant to the First Lien Security Agreement is released (unless such release is in connection with the Discharge
of First Lien Credit Agreement Obligations). 
 (f) In connection with any termination or release pursuant to paragraph (a), (b),
(c) or (d) of this Section 6.11, the Administrative Agent shall execute and deliver to any Grantor, at such Grantor’s expense, all documents that such Grantor shall reasonably request to evidence such termination or release and
shall perform such other actions reasonably requested by such Grantor to effect such release, including delivery of certificates, securities and instruments. Any execution and delivery of documents pursuant to this Section 6.11 shall be without
recourse to or warranty by the Administrative Agent. 
 Section 6.12. Additional Grantors. Pursuant to Section 6.11 of the
Credit Agreement, certain additional Restricted Subsidiaries of the Grantors may be required to enter in this Agreement as Grantors. Upon execution and delivery by the Administrative Agent and a Restricted Subsidiary of a Security Agreement
Supplement, such Restricted Subsidiary shall become a Grantor hereunder with the same force and effect as if originally named as a Grantor herein. The execution and delivery of any such instrument shall not require the consent of any other Grantor
hereunder, except to the extent obtained on or prior to such date and in full force and effect on such date. The rights and obligations of each Grantor hereunder shall remain in full force and effect notwithstanding the addition of any new Grantor
as a party to this Agreement. 

  
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 Section 6.13. Administrative Agent Appointed Attorney-in-Fact. Subject to the terms
of the Intercreditor Agreements, each Grantor hereby appoints the Administrative Agent the attorney-in-fact of such Grantor for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instrument that the
Administrative Agent may deem necessary or advisable to accomplish the purposes hereof, in each case, at any time after the occurrence and during the continuance of an Event of Default, which appointment is irrevocable and coupled with an interest.
Without limiting the generality of the foregoing, subject to the terms of the Intercreditor Agreements, the Administrative Agent shall have the right, after the occurrence and during the continuance of an Event of Default and, to the extent
reasonably practicable, notice by the Administrative Agent to the applicable Grantor of the Administrative Agent’s intent to exercise such rights, with full power of substitution either in the Administrative Agent’s name or in the name of
such Grantor (a) to receive, endorse, assign and/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 sign the name of any Grantor on any invoice or bill of lading relating to any of the Collateral; (d) upon prior written notice to the Borrower,
to send verifications of accounts receivable to any Account Debtor; (e) 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; (f) to settle, compromise, compound, adjust or defend any actions, suits or proceedings relating to all or any of the Collateral; (g) upon prior written notice to the
Borrower, to notify, or to require the Borrower or any Grantor to notify, Account Debtors to make payment directly to the Administrative Agent; (h) upon prior written notice to the Borrower, to otherwise communicate with any Account Debtor;
(i) to make, settle and adjust claims in respect of Collateral under policies of insurance, endorse the name of such Grantor on any check, draft, instrument or other item of payment for the proceeds of such policies of insurance; (j) to
make all determinations and decisions with respect to policies of insurance; (k) to obtain or maintain the policies of insurance required by Section 6.07 of the Credit Agreement or to pay any premium in whole or in part relating thereto;
and (l) 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 Administrative Agent were the absolute owner of the Collateral for all purposes; provided that nothing herein contained shall be construed as requiring or obligating the Administrative Agent to make any commitment or to make
any inquiry as to the nature or sufficiency of any payment received by the Administrative 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 Administrative 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 Grantor for any act or failure to act hereunder, except for their own gross negligence, bad faith, willful misconduct, or material breach of this Agreement or that of any of
their Affiliates, directors, officers, employees, partners, advisors, 

  
 27 








 
counsel, agents, attorneys-in-fact or other representatives, in each case, as determined by a final non-appealable judgment of a court of competent jurisdiction. All sums disbursed by the
Administrative Agent in connection with this paragraph shall be payable pursuant to the terms of Section 10.04 of the Credit Agreement. 

Section 6.14. General Authority of the Administrative Agent. By acceptance of the benefits of this Agreement and any other
Collateral Documents, each Secured Party (whether or not a signatory hereto) shall be deemed irrevocably (a) to consent to the appointment of the Administrative Agent as its agent hereunder and under such other Collateral Documents, (b) to
confirm that the Administrative Agent shall have the authority to act as the exclusive agent of such Secured Party for the enforcement of any provisions of this Agreement and such other Collateral Documents against any Grantor, the exercise of
remedies hereunder or thereunder and the giving or withholding of any consent or approval hereunder or thereunder relating to any Collateral or any Grantor’s obligations with respect thereto, (c) to agree that it shall not take any action
to enforce any provisions of this Agreement or any other Collateral Document against any Grantor, to exercise any remedy hereunder or thereunder or to give any consents or approvals hereunder or thereunder except as expressly provided in this
Agreement or any other Collateral Document and (d) to agree to be bound by the terms of this Agreement and any other Collateral Documents. 

Section 6.15. Reasonable Care. The Administrative Agent is required to use reasonable care in the custody and preservation of any
of the Collateral in its possession; provided, that the Administrative Agent shall be deemed to have used reasonable care in the custody and preservation of any of the Collateral, if such Collateral is accorded treatment substantially similar to
that which the Administrative Agent accords its own property. 
 Section 6.16. Delegation; Limitation. The Administrative Agent
may execute any of the powers granted under this Agreement and perform any duty hereunder either directly or by or through agents or attorneys-in-fact, and shall not be responsible for the gross negligence or willful misconduct of any agents or
attorneys-in-fact selected by it with reasonable care and without gross negligence or willful misconduct. 
 Section 6.17.
Reinstatement. The obligations of the Grantors under this Agreement shall be automatically reinstated if and to the extent that for any reason any payment by or on behalf of the Borrower or other Loan Party in respect of the Secured
Obligations is rescinded or must be otherwise restored by any holder of any of the Secured Obligations, whether as a result of any proceedings in bankruptcy or reorganization or otherwise. 

Section 6.18. Intercreditor Agreements. Notwithstanding anything herein to the contrary, the Liens and the Security Interest
granted to the Administrative Agent pursuant to this Agreement and the exercise of any right or remedy by the Administrative Agent hereunder, are subject in all respects to the provisions of the Intercreditor Agreements. In the event of any conflict
between the terms of any Intercreditor Agreement and this Agreement, the terms of such Intercreditor Agreement shall govern and control. 

  
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 Section 6.19. Obligations of Grantors. The terms and conditions of this Agreement are
subject to the terms and conditions of the Intercreditor Agreements. To the extent that the obligations of any Grantor hereunder shall conflict, or shall be inconsistent, with the obligations of such Grantor under the First Lien Security Agreement,
the provisions of the First Lien Security Agreement shall prevail. Notwithstanding anything to the contrary in this Agreement, prior to the Discharge of the First Lien Credit Agreement Obligations, any obligation of any Grantor in this Agreement
that requires (or any representation or warranty hereunder to the extent that it would have the effect of requiring) delivery of Collateral (including any endorsements related thereto) to, or the possession or control of Collateral by, the
Administrative Agent, shall be deemed complied with and satisfied (or, in the case of any representation or warranty hereunder, shall be deemed to be true) if such delivery of Collateral is made to, or such possession or control of Collateral is
with, the First Lien Administrative Agent or Designated First Lien Representative. 
 [Signature Pages Follow] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the
date first above written. 
  

			
	JASON INCORPORATED
	 JASON PARTNERS HOLDINGS INC.

JASON HOLDINGS, INC. I

		
	By:	 	 /s/ William P. Schultz

	Name:	 	William Schultz
	Title:	 	Assistant Secretary
	
	ADVANCE WIRE PRODUCTS, INC. ASSEMBLED PRODUCTS, INC.
	JASON INTERNATIONAL HOLDINGS, INC.
	JASON NEVADA, INC.
	 JASON OHIO CORPORATION

METALEX CORPORATION
 MORTON MANUFACTURING
COMPANY

		
	By:	 	 /s/ William P. Schultz

	Name:	 	William Schultz
	Title:	 	Vice President and Secretary


 [Project Brewer - Signature Page to Second Lien Security Agreement] 







 
					
	DEUTSCHE BANK AG NEW YORK BRANCH, as Administrative Agent and Collateral Agent
		
	By:	 	 /s/ Peter Cucchiara

		 	Name:	 	Peter Cucchiara
		 	Title:	 	Vice President
		
	By:	 	 /s/ Kirk L. Tashjian

		 	Name:	 	Kirk L. Tashjian
		 	Title:	 	Vice President


 [Project Brewer - Signature Page to Second Lien Security Agreement]