Second Amended and Restated Credit Facility



 Exhibit 10.9 

EXECUTION VERSION 
  

 
  

 
 $75,000,000 

SECOND AMENDED AND RESTATED CREDIT AGREEMENT 

Dated as of August 12, 2016 
 and

 Effective as of September 20, 2016 

Among 
 CLAIRE’S STORES,
INC., 
 as Borrower, 

CLAIRE’S INC., 
 THE LENDERS
PARTY HERETO, 
 and 
 CREDIT
SUISSE AG, 
 as Administrative Agent, 
  

 
  







 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	
	 ARTICLE I
	   

	 Definitions
	   

			
	SECTION 1.01.	  	Defined Terms	  	 	1	  
			
	SECTION 1.02.	  	Terms Generally	  	 	42	  
			
	SECTION 1.03.	  	[Reserved]	  	 	43	  
			
	SECTION 1.04.	  	Exchange Rates; Currency Equivalents	  	 	43	  
	
	 ARTICLE II
	   

	 The Credits
	   

			
	SECTION 2.01.	  	Commitments	  	 	43	  
			
	SECTION 2.02.	  	Loans and Borrowings	  	 	44	  
			
	SECTION 2.03.	  	Requests for Borrowings	  	 	44	  
			
	SECTION 2.04.	  	[Reserved]	  	 	45	  
			
	SECTION 2.05.	  	Letters of Credit	  	 	45	  
			
	SECTION 2.06.	  	Funding of Borrowings	  	 	51	  
			
	SECTION 2.07.	  	Interest Elections	  	 	52	  
			
	SECTION 2.08.	  	Termination and Reduction of Commitments	  	 	53	  
			
	SECTION 2.09.	  	Repayment of Loans; Evidence of Debt	  	 	53	  
			
	SECTION 2.10.	  	Repayment of Revolving Facility Loans	  	 	54	  
			
	SECTION 2.11.	  	Prepayment of Loans	  	 	55	  
			
	SECTION 2.12.	  	Fees	  	 	56	  
			
	SECTION 2.13.	  	Interest	  	 	57	  
			
	SECTION 2.14.	  	Alternate Rate of Interest	  	 	58	  
			
	SECTION 2.15.	  	Increased Costs	  	 	58	  
			
	SECTION 2.16.	  	Break Funding Payments	  	 	59	  
			
	SECTION 2.17.	  	Taxes	  	 	60	  
			
	SECTION 2.18.	  	Payments Generally; Pro Rata Treatment; Sharing of Setoffs	  	 	63	  
			
	SECTION 2.19.	  	Mitigation Obligations; Replacement of Lenders	  	 	64	  
			
	SECTION 2.20.	  	Illegality	  	 	65	  
			
	SECTION 2.21.	  	[Reserved]	  	 	66	  
			
	SECTION 2.22.	  	Defaulting Lender	  	 	66	  


  
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 TABLE OF CONTENTS 

(continued) 
  


							
	 	  	 	  	Page	 
	
	 ARTICLE III
	   

	 Representations and Warranties
	   

			
	SECTION 3.01.	  	Organization; Powers	  	 	68	  
			
	SECTION 3.02.	  	Authorization	  	 	69	  
			
	SECTION 3.03.	  	Enforceability	  	 	69	  
			
	SECTION 3.04.	  	Governmental Approvals	  	 	69	  
			
	SECTION 3.05.	  	Financial Statements	  	 	70	  
			
	SECTION 3.06.	  	No Material Adverse Effect	  	 	70	  
			
	SECTION 3.07.	  	Title to Properties; Possession Under Leases	  	 	70	  
			
	SECTION 3.08.	  	Subsidiaries	  	 	71	  
			
	SECTION 3.09.	  	Litigation; Compliance with Laws	  	 	71	  
			
	SECTION 3.10.	  	Federal Reserve Regulations	  	 	71	  
			
	SECTION 3.11.	  	Investment Company Act	  	 	72	  
			
	SECTION 3.12.	  	Use of Proceeds	  	 	72	  
			
	SECTION 3.13.	  	Tax Returns	  	 	72	  
			
	SECTION 3.14.	  	No Material Misstatements	  	 	72	  
			
	SECTION 3.15.	  	Employee Benefit Plans	  	 	73	  
			
	SECTION 3.16.	  	Environmental Matters	  	 	73	  
			
	SECTION 3.17.	  	Security Documents	  	 	74	  
			
	SECTION 3.18.	  	Location of Real Property and Leased Premises	  	 	74	  
			
	SECTION 3.19.	  	Solvency	  	 	75	  
			
	SECTION 3.20.	  	Labor Matters	  	 	75	  
			
	SECTION 3.21.	  	Insurance	  	 	75	  
			
	SECTION 3.22.	  	No Default	  	 	75	  
			
	SECTION 3.23.	  	Intellectual Property; Licenses, Etc.	  	 	75	  
			
	SECTION 3.24.	  	Senior Debt	  	 	75	  
			
	SECTION 3.25.	  	Anti-Money Laundering and Economic Sanctions Laws	  	 	75	  
			
	SECTION 3.26.	  	FCPA	  	 	76	  


  
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 TABLE OF CONTENTS 

(continued) 
  


							
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	 ARTICLE IV
	   

	 Conditions of Lending
	   

			
	SECTION 4.01.	  	All Credit Events	  	 	77	  
			
	SECTION 4.02.	  	First Credit Event	  	 	78	  
	
	 ARTICLE V
	   

	 Affirmative Covenants
	   

			
	SECTION 5.01.	  	Existence; Businesses and Properties	  	 	78	  
			
	SECTION 5.02.	  	Insurance	  	 	78	  
			
	SECTION 5.03.	  	Taxes	  	 	79	  
			
	SECTION 5.04.	  	Financial Statements, Reports, etc.	  	 	80	  
			
	SECTION 5.05.	  	Litigation and Other Notices	  	 	83	  
			
	SECTION 5.06.	  	Compliance with Laws	  	 	83	  
			
	SECTION 5.07.	  	Maintaining Records; Access to Properties and Inspections	  	 	83	  
			
	SECTION 5.08.	  	Use of Proceeds	  	 	83	  
			
	SECTION 5.09.	  	Compliance with Environmental Laws	  	 	84	  
			
	SECTION 5.10.	  	Further Assurances; Additional Security	  	 	84	  
			
	SECTION 5.11.	  	Reserved	  	 	86	  
			
	SECTION 5.12.	  	Fiscal Year; Accounting	  	 	86	  
	
	 ARTICLE VI
	   

	 Negative Covenants
	   

			
	SECTION 6.01.	  	Indebtedness	  	 	86	  
			
	SECTION 6.02.	  	Liens	  	 	90	  
			
	SECTION 6.03.	  	Sale and Lease Back Transactions	  	 	94	  
			
	SECTION 6.04.	  	Investments, Loans and Advances	  	 	94	  
			
	SECTION 6.05.	  	Mergers, Consolidations, Sales of Assets and Acquisitions	  	 	98	  
			
	SECTION 6.06.	  	Restricted Payments	  	 	100	  
			
	SECTION 6.07.	  	Transactions with Affiliates	  	 	102	  
			
	SECTION 6.08.	  	Business of the Borrower and the Subsidiaries	  	 	105	  


  
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 TABLE OF CONTENTS 

(continued) 
  


							
	 	  	 	  	Page	 
	SECTION 6.09.	  	Limitation on Payments and Modifications of Indebtedness; Modifications of Certificate of Incorporation, By Laws and Certain Other Agreements; etc.	  	 	106	  
			
	SECTION 6.10.	  	Qualified CFC Holding Companies	  	 	108	  
			
	SECTION 6.11.	  	Total Net Secured Leverage Ratio	  	 	108	  
	
	 ARTICLE VI A
	   

	 Holdings Covenants
	   

	
	 ARTICLE VII
	   

	 Events of Default
	   

			
	SECTION 7.01.	  	Events of Default	  	 	110	  
			
	SECTION 7.02.	  	Exclusion of Immaterial Subsidiaries	  	 	113	  
			
	SECTION 7.03.	  	Right to Cure	  	 	113	  
	
	 ARTICLE VIII
	   

	 The Agents
	   

			
	SECTION 8.01.	  	Appointment	  	 	114	  
			
	SECTION 8.02.	  	Delegation of Duties	  	 	116	  
			
	SECTION 8.03.	  	Exculpatory Provisions	  	 	116	  
			
	SECTION 8.04.	  	Reliance by Administrative Agent	  	 	117	  
			
	SECTION 8.05.	  	Notice of Default	  	 	118	  
			
	SECTION 8.06.	  	Non-Reliance on Agents and Other Lenders	  	 	118	  
			
	SECTION 8.07.	  	Indemnification	  	 	119	  
			
	SECTION 8.08.	  	Agent in Its Individual Capacity	  	 	119	  
			
	SECTION 8.09.	  	Successor Administrative Agent	  	 	119	  
			
	SECTION 8.10.	  	[Reserved]	  	 	120	  
			
	SECTION 8.11.	  	Withholding Taxes	  	 	120	  
	
	 ARTICLE IX
	   

	 Miscellaneous
	   

			
	SECTION 9.01.	  	Notices; Communications	  	 	120	  
			
	SECTION 9.02.	  	Survival of Agreement	  	 	122	  
			
	SECTION 9.03.	  	Binding Effect	  	 	122	  


  
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(continued) 
  


							
	 	  	 	  	Page	 
	SECTION 9.04.	  	Successors and Assigns	  	 	122	  
			
	SECTION 9.05.	  	Expenses; Indemnity	  	 	127	  
			
	SECTION 9.06.	  	Right of Setoff	  	 	129	  
			
	SECTION 9.07.	  	Applicable Law	  	 	129	  
			
	SECTION 9.08.	  	Waivers; Amendment	  	 	129	  
			
	SECTION 9.09.	  	Interest Rate Limitation	  	 	132	  
			
	SECTION 9.10.	  	Entire Agreement	  	 	132	  
			
	SECTION 9.11.	  	WAIVER OF JURY TRIAL	  	 	132	  
			
	SECTION 9.12.	  	Severability	  	 	132	  
			
	SECTION 9.13.	  	Counterparts	  	 	132	  
			
	SECTION 9.14.	  	Headings	  	 	133	  
			
	SECTION 9.15.	  	Jurisdiction; Consent to Service of Process	  	 	133	  
			
	SECTION 9.16.	  	Confidentiality	  	 	134	  
			
	SECTION 9.17.	  	Platform; Borrower Materials	  	 	135	  
			
	SECTION 9.18.	  	Release of Liens and Guarantees	  	 	135	  
			
	SECTION 9.19.	  	Judgment Currency	  	 	136	  
			
	SECTION 9.20.	  	USA PATRIOT Act Notice	  	 	136	  
			
	SECTION 9.21.	  	No Liability of the Issuing Banks	  	 	136	  
			
	SECTION 9.22.	  	No Advisory or Fiduciary Responsibility	  	 	137	  
			
	SECTION 9.23.	  	Reaffirmation of Loan Documents	  	 	137	  
			
	SECTION 9.24.	  	Effect of Amendment and Restatement	  	 	138	  


  
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 Exhibits and Schedules 
  

			
	 Exhibit A
	  	 Form of Assignment and Acceptance

	 Exhibit C-1
	  	 Form of Borrowing Request

	 Exhibit C-2
	  	 [Reserved]

	 Exhibit C-3
	  	 Form of Letter of Credit Request

	 Exhibit D
	  	 Form of Interest Election Request

	 Exhibit E
	  	 Form of Restated Collateral Agreement

	 Exhibit F
	  	 Form of U.S. Tax Compliance Certificate

		
	 Schedule 1.01A
	  	 Excluded Subsidiaries

	 Schedule 1.01B
	  	 Mortgaged Properties

	 Schedule 1.01D
	  	 Immaterial Subsidiaries

	 Schedule 1.01E
	  	 Refinanced Indebtedness

	 Schedule 1.01F
	  	 Unrestricted Subsidiaries

	 Schedule 2.01
	  	 Commitments

	 Schedule 3.01
	  	 Organization and Good Standing

	 Schedule 3.04
	  	 Governmental Approvals

	 Schedule 3.07(b)
	  	 Possession under Leases

	 Schedule 3.07(c)
	  	 Intellectual Property

	 Schedule 3.08(a)
	  	 Subsidiaries

	 Schedule 3.08(b)
	  	 Subscriptions

	 Schedule 3.13
	  	 Taxes

	 Schedule 3.16
	  	 Environmental Matters

	 Schedule 3.18
	  	 Material Real Estate

	 Schedule 3.23
	  	 Intellectual Property

	 Schedule 3.25
	  	 Anti-Money Laundering Laws

	 Schedule 6.01
	  	 Indebtedness

	 Schedule 6.02(a)
	  	 Liens

	 Schedule 6.04
	  	 Investments

	 Schedule 6.07
	  	 Transactions with Affiliates

	 Schedule 9.01
	  	 Notice Information



  
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 SECOND AMENDED AND RESTATED CREDIT AGREEMENT, dated as of August 12, 2016 and effective as
of September 20, 2016 (this “Agreement”), among CLAIRE’S INC. (formerly known as Bauble Holdings Corp.), a Delaware corporation (“Holdings”), CLAIRE’S STORES, INC., a Florida corporation
(“Borrower”), the LENDERS party hereto from time to time, and CREDIT SUISSE AG, as administrative agent (in such capacity, the “Administrative Agent”) for the Lenders. 

WHEREAS, the Borrower is a party to that certain Amended and Restated Credit Agreement dated as of September 20, 2012 ((as amended on April
30, 2014, and as further amended on September 10, 2015) the “First Amended and Restated Credit Agreement”) among Holdings, the Borrower, certain lenders party thereto and Credit Suisse AG, as administrative agent for such lenders;

 WHEREAS, Holdings and the Borrower have informed the Lenders that the Borrower or one or more Subsidiaries of the Borrower intends to
commence an offer to acquire, and to cancel, at least $400,000,000 aggregate principal amount of the Senior Unsecured Notes, Senior Secured Second Lien Notes and Senior Subordinated Notes not held by Claire’s Inc. and its Affiliates or the Fund
(as defined herein) and its Affiliates and, to the extent necessary to meet such $400,00,000 threshold, Senior Subordinated Notes held by Claire’s Inc. and its affiliates or the Fund and its Affiliates (the “Note Exchange”), in
exchange for, or with the proceeds of, some combination of (i) up to $60 million of new unsecured debt of Claire’s (Gibraltar) Holdings Limited, (ii) up to $130 million of new term debt at an unrestricted U.S. subsidiary, which shall be secured
by certain intellectual property, and (iii) up to $40 million of new first lien debt of Claire’s Stores, Inc., guaranteed by Subsidiaries that are loan parties thereunder (the “New Loans”, and together with the Note Exchange,
the “Transaction”); 
 WHEREAS, in connection with the Transaction and the amendments and modifications of the
Borrower’s debt obligations, Holdings, the Borrower and the Lenders have agreed to amend the First Amended and Restated Credit Agreement to provide for Revolving Facility Loans extended as of the Second Amendment and Restatement Effective Date
and to provide that the aggregate amount of outstanding Revolving Facility Loans and letters of credit under the Second Amended and Restated Credit Agreement and loans and letters of credit under the ABL Credit Agreement together shall not at any
time exceed $75,000,000; and 
 WHEREAS, the parties have agreed to amend and restate the First Amended and Restated Credit Agreement as
provided in this Agreement; 
 NOW, THEREFORE, subject to the conditions set forth herein, the First Amended and Restated Credit Agreement
shall be and hereby is amended and restated in its entirety as follows: 
 ARTICLE I 

Definitions 
 SECTION
1.01. Defined Terms. As used in this Agreement (including the recitals hereto), the following terms shall have the meanings specified below: 







 “ABL Available Credit” shall have the meaning ascribed to the term
“Available Credit” in the ABL Credit Agreement. 
 “ABL Credit Agreement” shall mean that certain ABL Credit
Agreement dated as of August 12, 2016 and effective as of September 20, 2016 (as amended and in effect from time to time) among Holdings, the Borrower, certain lenders party thereto and Credit Suisse AG, as administrative agent for such
lenders. 
 “ABL Facility” shall mean the $75,000,000 credit facility under the ABL Credit Agreement. 

“ABL Facility Borrowing” shall have the meaning ascribed to such term in the ABL Credit Agreement. 

“ABL Facility Commitment” shall have the meaning ascribed to such term in the ABL Credit Agreement. 

“ABL Facility Credit Exposure” shall have the meaning ascribed to such term in the ABL Credit Agreement. 

“ABL Intercreditor Agreement” shall mean that certain Intercreditor Agreement in substantially the form of Exhibit G
to the ABL Credit Agreement. 
 “ABL L/C Rebalancing Amount” shall have the meaning ascribed to such term in the ABL Credit
Agreement. 
 “ABL Letters of Credit” shall mean letters of credit outstanding under the ABL Facility. 

“ABL Rebalancing Borrowing” shall mean a borrowing of Revolving Facility Loans the proceeds of which are required to make a
mandatory prepayment under Section 2.11(b) of the ABL Credit Agreement. 
 “ABL Revolving L/C Rebalancing” shall have the
meaning ascribed to such term in the ABL Credit Agreement. 
 “ABR” shall mean, for any day, a fluctuating rate per annum
equal to the higher of (a) the Federal Funds Rate plus 1/2 of 1.00%, (b) the rate of interest in effect for such day as designated from time to time by the Administrative Agent as its “prime rate” at its principal office in New York, New
York, (c) the Adjusted LIBO Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1.00%, and (d) zero; provided that, for the avoidance of doubt, the Adjusted LIBO Rate
for any day shall be based on the rate determined on such day at approximately 11 a.m. (London time) by reference to the ICE Benchmark Administration Limited Interest Settlement Rates for deposits in Dollars (as set forth by any service selected by
the Administrative Agent that has been nominated by the British Bankers’ Association as an authorized vendor for the purpose of displaying such rates). Any change in such rate due to a change in the Prime Rate, the Federal Funds Effective Rate
or the Adjusted LIBO Rate shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate, as the case may be. 

  
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 “ABR Borrowing” shall mean a Borrowing comprised of ABR Loans. 

“ABR Loan” shall mean any ABR Revolving Loan. 

“ABR Revolving Facility Borrowing” shall mean a Borrowing comprised of ABR Revolving Loans. 

“ABR Revolving Loan” shall mean any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in
accordance with the provisions of Article II. 
 “Additional Mortgage” shall have the meaning assigned to such term in
Section 5.10(c). 
 “Additional Obligations” shall have the meaning assigned to such term in the First Lien
Intercreditor Agreement. 
 “Adjusted LIBO Rate” shall mean, with respect to any Eurocurrency Borrowing for any Interest
Period, an interest rate per annum equal to (a) the LIBO Rate in effect for such Interest Period divided by (b) one minus the Statutory Reserves applicable to such Eurocurrency Borrowing, if any. 

“Administrative Agent” shall have the meaning assigned to such term in the introductory paragraph of this Agreement. 

“Administrative Agent Fees” shall have the meaning assigned to such term in Section 2.12(c). 

“Administrative Questionnaire” shall mean an Administrative Questionnaire in a form supplied by the Administrative Agent.

 “Affiliate” shall mean, when used with respect to a specified person, another person that directly, or indirectly
through one or more intermediaries, Controls or is Controlled by or is under common Control with the person specified. 

“Agents” shall mean the Administrative Agent and the Collateral Agent. 

“Agreement” shall have the meaning assigned to such term in the introductory paragraph of this Agreement. 

“Alternate Currency” shall mean, with respect to any Letter of Credit, Pounds Sterling, Canadian Dollars, Euros or Swiss
Franc or any other currency other than Dollars as may be acceptable to the Administrative Agent and the Issuing Bank with respect thereto in their sole discretion. 

  
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 “Alternate Currency Letter of Credit” shall mean any Letter of Credit
denominated in an Alternate Currency. 
 “Amendment No. 3” shall mean that certain Amendment No. 3 to the First Amended and
Restated Credit Agreement dated as of August 12, 2016, by and among Holdings, the Borrower, the Lenders and the Administrative Agent. 

“Amendment No. 3 Effective Date” shall have the meaning assigned to such term in Amendment No. 3. 

“Anti-Money Laundering Laws” means any and all laws, judgments, orders, executive orders, decrees, ordinances, rules,
regulations, statutes, case law or treaties applicable to a Loan Party, its Subsidiaries or Affiliates related to terrorism financing or money laundering, including any applicable provision of Title III of the Uniting and Strengthening America by
Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (USA PATRIOT Act) of 2001 (Title III of Pub. L. 107-56) and The Currency and Foreign Transactions Reporting Act (also known as the “Bank Secrecy Act”, 31
U.S.C. §§ 5311-5330 and 12 U.S.C. §§ 1818(s), 1820(b) and 1951-1959). 
 “Applicable Facility Fee”
shall mean 0.50% per annum. 
 “Applicable Margin” shall mean 4.50% per annum in the case of any Eurocurrency Loan and
3.50% per annum in the case of any ABR Loan. 
 “Approved Fund” shall have the meaning assigned to such term in
Section 9.04(b). 
 “Asset Sale” shall mean any loss, damage, destruction or condemnation of, or any sale, transfer or
other disposition (including any sale and leaseback of assets and any mortgage or lease of Real Property) to any person of any asset or assets of the Borrower or any Subsidiary. 

“Assignee” shall have the meaning assigned to such term in Section 9.04(b). 

“Assignment and Acceptance” shall mean an assignment and acceptance entered into by a Lender and an Assignee, and accepted by
the Administrative Agent and the Borrower (if required by Section 9.04), in the form of Exhibit A to this Agreement or such other form as shall be approved by the Administrative Agent and reasonably satisfactory to the Borrower. 

“Availability Period” shall mean the period from and including the Closing Date to but excluding the earlier of the Revolving
Facility Maturity Date and in the case of each of the Revolving Facility Loans, Revolving Facility Borrowings and Letters of Credit, the date of termination of the Revolving Facility Commitments. 

“Bail-In Action” shall mean the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority
in respect of any liability of an EEA Financial Institution. 

  
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 “Bail-In Legislation” shall mean, with respect to any EEA Member Country
implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule. 

“Board” shall mean the Board of Governors of the Federal Reserve System of the United States of America. 

“Board of Directors” shall mean, as to any person, the board of directors or other governing body of such person, or if such
person is owned or managed by a single entity, the board of directors or other governing body of such entity. 
 “Borrower”
shall have the meaning assigned to such term in the introductory paragraph of this Agreement. 
 “Borrower Qualified IPO”
shall mean an initial public offering of Equity Interests of the Borrower constituting a Qualified IPO. 
 “Borrowing”
shall mean a group of Loans of a single Type under a single Facility and made on a single date and, in the case of Eurocurrency Loans, as to which a single Interest Period is in effect. 

“Borrowing Base” shall have the meaning ascribed to such term in the ABL Credit Agreement. 

“Borrowing Minimum” shall mean $5.0 million. 

“Borrowing Multiple” shall mean $1.0 million. 

“Borrowing Request” shall mean a request by the Borrower in accordance with the terms of Section 2.03 and substantially in
the form of Exhibit C-1 to this Agreement. 
 “Budget” shall have the meaning assigned to such term in Section
5.04(e). 
 “Business Day” shall mean any day that is not a Saturday, Sunday or other day on which commercial banks in New
York City are authorized or required by law to remain closed; provided, that when used in connection with a Eurocurrency Loan, the term “Business Day” shall also exclude any day on which banks are not open for dealings in deposits
in the applicable currency in the London interbank market. 
 “Capital Lease Obligations” of any person shall mean the
obligations of such person to pay rent or other amounts under any lease of (or other similar arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted
for as capital leases on a balance sheet of such person under GAAP and, for purposes hereof, the amount of such obligations at any time shall be the capitalized amount thereof accounted for as a liability at such time determined in accordance with
GAAP. 

  
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 A “Change in Control” shall be deemed to occur if: 

(a) at any time, (i) prior to a Borrower Qualified IPO, Holdings shall fail to own, directly or indirectly, beneficially
and of record, 100% of the issued and outstanding Equity Interests of the Borrower, (ii) a majority of the seats (other than vacant seats) on the Board of Directors of Holdings (prior to a Borrower Qualified IPO) or the Borrower (following a
Borrower Qualified IPO) shall at any time be occupied by persons who were neither (A) nominated or approved by the Board of Directors of Holdings (prior to a Borrower Qualified IPO) or the Borrower (following a Borrower Qualified IPO) or a Permitted
Holder, (B) appointed by directors so nominated or approved nor (C) appointed by a Permitted Holder or (iii) a “change of control” (or similar event) shall occur under the Senior Unsecured Notes Indenture, the Senior Subordinated Notes
Indenture, the Senior Secured First Lien Notes Indenture, the Senior Secured Second Lien Notes Indenture, any Material Indebtedness or any Permitted Refinancing Indebtedness incurred to Refinance any of the foregoing or any Disqualified Stock (to
the extent the aggregate amount of the applicable Disqualified Stock exceeds $35 million); 
 (b) at any time prior to a
Qualified IPO, any combination of Permitted Holders shall fail to own beneficially (within the meaning of Rule 13d-5 of the Exchange Act as in effect on the Closing Date), directly or indirectly, in the aggregate Equity Interests representing at
least a majority of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests of Holdings; or 

(c) at any time after a Qualified IPO, any person or “group” (within the meaning of Rules 13d 3 and 13d 5 under
the Securities Exchange Act of 1934 as in effect on the Closing Date), other than any combination of the Permitted Holders or any “group” including any Permitted Holders (so long as Permitted Holders own not less than a majority of the
voting interest in Equity Interests of Holdings owned by all members of such “group” in the aggregate), shall have acquired beneficial ownership of 35% or more on a fully diluted basis of the voting interest in Equity Interests of Holdings
(prior to a Borrower Qualified IPO) or the Borrower (following a Borrower Qualified IPO) and the Permitted Holders shall own, directly or indirectly, less than such person or “group” on a fully diluted basis of the voting interest in
Equity Interests of Holdings (prior to a Borrower Qualified IPO) or the Borrower (following a Borrower Qualified IPO). 
 “Change in
Law” shall mean (a) the adoption of any law, rule or regulation after the Closing Date, (b) any change in law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the Closing Date or (c)
compliance by any Lender or Issuing Bank (or, for purposes of Section 2.15(b), by any lending office of such Lender or by such Lender’s or Issuing Bank’s holding company, if any) with any written request, guideline or directive (whether or
not having the force of law) of any Governmental Authority made or issued after the Closing Date; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests,
rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or
similar authority) or the United States or foreign regulatory authorities, in each case, pursuant to Basel III, shall in each case be deemed to be a “Change in Law,” regardless of the date enacted, adopted or issued. 

  
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 “Charges” shall have the meaning assigned to such term in Section 9.09. 

“Closing Date” shall mean August 12, 2016. 

“Code” shall mean the Internal Revenue Code of 1986, as amended from time to time and the regulations promulgated and rulings
issued thereunder. 
 “Collateral” shall mean the “Collateral” as defined in any Security Document and shall also
include the Mortgaged Properties and all other property that is subject to any Lien in favor of the Administrative Agent or any Subagent for the benefit of the Lenders pursuant to any Security Documents. 

“Collateral Access Agreement” means a landlord waiver, bailee letter, or acknowledgement agreement of any lessor,
warehouseman, processor, consignee, or other Person in possession of, having a Lien upon, or having rights or interests in the Borrower’s or its Subsidiaries’ books and records, Equipment, or Inventory, in each case, in form and substance
satisfactory to the Administrative Agent in its sole discretion. 
 “Collateral Agent” shall mean the Administrative Agent
acting as collateral agent for the Lenders and the other Secured Parties. 
 “Collateral Agreement” shall mean the
Guarantee and Collateral Agreement dated as of May 29, 2007 (as amended, supplemented or otherwise modified from time to time), among Holdings, the Borrower, each Subsidiary Loan Party and the Administrative Agent as restated as of the Closing Date
in the form of Exhibit E. 
 “Collateral and Guarantee Requirement” shall mean the requirement that: 

(a) on or prior to the Closing Date, the Collateral Agent shall have received (i) from Holdings, the Borrower and each
Subsidiary Loan Party, a counterpart of the Collateral Agreement in the form of Exhibit E to this Agreement (or, to the extent not executed and delivered prior to the Closing Date, a counterpart of the Collateral Agreement), duly executed and
delivered on behalf of such person , (ii) the ABL Intercreditor Agreement, executed and delivered by the parties thereto, and (iii) to the extent not executed and delivered prior to the Closing Date, an acknowledgment and consent in form and
substance satisfactory to the Collateral Agent, executed and delivered by each issuer of Pledged Collateral (as defined in the Collateral Agreement), if any, that is a Subsidiary of the Borrower but is not a Loan Party; 

(b) on or prior to the Closing Date, (i) the Collateral Agent shall have received (A) a pledge of all the issued and
outstanding Equity Interests of (x) the Borrower and (y) each Domestic Subsidiary (other than Subsidiaries listed on Schedule 1.01A) owned on the Closing Date directly by the Borrower or any Subsidiary Loan Party and (B) a pledge of 100% of
the outstanding non-voting Equity Interests and 65% of the outstanding voting Equity Interests of each (1) “first tier” Foreign Subsidiary directly owned by any 

  
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Loan Party and (2) each “first tier” Qualified CFC Holding Company directly owned by any Loan Party (other than Subsidiaries listed on Schedule 1.01A) and (ii) the Collateral
Agent (or a bailee on behalf of the Collateral Agent) shall have received all certificates or other instruments (if any) representing such Equity Interests, together with stock powers or other instruments of transfer with respect thereto endorsed in
blank; 
 (c) (i) any Indebtedness of Holdings, the Borrower and each Subsidiary having, in the case of each instance of
such Indebtedness, an aggregate principal amount in excess of $5.0 million (other than (A) intercompany current liabilities incurred in the ordinary course of business in connection with the cash management operations of Holdings, the Borrower and
the Subsidiaries or (B) to the extent that a pledge of such promissory note or instrument would violate applicable law) that is owing to any Loan Party shall be evidenced by a promissory note or an instrument and shall have been pledged pursuant to
the Collateral Agreement (or other applicable Security Document as reasonably required by the Collateral Agent), and (ii) the Collateral Agent (or a bailee on behalf of the Collateral Agent) shall have received all such promissory notes or
instruments, together with note powers or other instruments of transfer with respect thereto endorsed in blank; 

(d) in the case of any person that becomes a Subsidiary Loan Party after the Closing Date, the Collateral Agent shall have
received a supplement to the Collateral Agreement, in the form specified therein, duly executed and delivered on behalf of such Subsidiary Loan Party; 

(e) in the case of any person that becomes a “first tier” Foreign Subsidiary directly owned by the Borrower or a
Subsidiary Loan Party after the Closing Date, subject to Section 5.10(g), the Collateral Agent shall have received, as promptly as practicable following such event (unless the Collateral Agent, in its sole discretion, shall have waived such
requirement), a Foreign Pledge Agreement, duly executed and delivered on behalf of such Foreign Subsidiary and the direct parent company of such Foreign Subsidiary; provided, that such a pledge would not violate any applicable law or
agreements with other shareholders or joint venture partners; 
 (f) after the Closing Date, (i) all the outstanding
Equity Interests of (A) any person that becomes a Subsidiary Loan Party after the Closing Date and (B) subject to Section 5.10(g), all the Equity Interests that are acquired by a Loan Party after the Closing Date (including, without limitation, the
Equity Interests of any Special Purpose Receivables Subsidiary established after the Closing Date), shall have been pledged pursuant to the Collateral Agreement or a Foreign Pledge Agreement; provided, that in no event shall more than 65% of
the issued and outstanding voting Equity Interests of (1) any “first tier” Foreign Subsidiary or (2) any “first tier” Qualified CFC Holding Company directly owned by such Loan Party be pledged to secure Obligations of the
Borrower, and in no event shall any of the issued and outstanding Equity Interests of any Foreign Subsidiary that is not a “first tier” Foreign Subsidiary of a Loan Party or any Qualified CFC Holding Company that is not a “first
tier” Subsidiary of a Loan Party be pledged to secure the Obligations, and (ii) the Collateral Agent (or a bailee on behalf of the Collateral Agent) shall have received all certificates or other instruments (if any) representing such Equity
Interests, together with stock powers or other instruments of transfer with respect thereto endorsed in blank; 

  
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 (g) except as otherwise contemplated by any Security Document, all documents
and instruments, including Uniform Commercial Code financing statements, required by law or reasonably requested by the Collateral Agent to be filed, registered or recorded to create the Liens intended to be created by the Security Documents (in
each case, including any supplements thereto) and perfect such Liens to the extent required by, and with the priority required by, the Security Documents, shall have been filed, registered or recorded or delivered to the Collateral Agent for filing,
registration or the recording concurrently with, or promptly following, the execution and delivery of each such Security Document; 

(h) the Collateral Agent shall have received evidence of the insurance required by the terms of this Agreement and the
Mortgages (if any); 
 (i) except as otherwise contemplated by any Security Document, each Loan Party shall have
obtained all consents and approvals required to be obtained by it in connection with (i) the execution and delivery of all Security Documents (or supplements thereto) to which it is a party and the granting by it of the Liens thereunder and (ii) the
performance of its obligations thereunder; 
 (j) within ninety (90) days (as such period may be extended in the
Administrative Agent’s sole discretion) after (i) the Closing Date and (ii) the signing of a lease, the Borrower shall, and shall cause each of its Subsidiaries to, use commercially reasonable efforts to enter into Collateral Access Agreements
in favor of the Administrative Agent, in form and substance acceptable to the Administrative Agent; provided that such Collateral Access Agreements shall be required in connection with warehouse locations but not in connection with individual
store locations; 
 (k) the Borrower and each Subsidiary shall use commercially reasonable efforts to enter into a
customary Control Agreement over each Deposit Account (as defined by the New York Uniform Commercial Code) or Investment Account (as defined by the New York Uniform Commercial Code) maintained by such Person, subject to the other Collateral and
Guaranty Requirements, other than, in each case, with respect to (i) any Deposit Account exclusively used for payroll, payroll taxes, or other employee wage and benefit payments to or for the benefit of the Borrower’s or any such
Subsidiary’s employees, (ii) petty cash and other accounts, amounts on deposit in which do not exceed $100,000 in the aggregate at any one time, (iii) escrow, trust and fiduciary accounts, and (iv) any such accounts maintained outside the U.S.;
(x) in the case of any such accounts in existence on the Closing Date, within ninety (90) days following the Closing Date or such longer time period as agreed by the Administrative Agent in its sole discretion and (y) in the case of any such account
opened or acquired after the Closing Date or owned by any Person that becomes a Loan Party, a Borrower or a Subsidiary of the Borrower after the Closing Date within ninety (90) days following such opening or acquisition or such longer time period as
agreed by the Administrative Agent in its sole discretion, other than, in each case, with respect to (a) any Deposit Account exclusively used for payroll, 

  
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 payroll taxes, or other employee wage and benefit payments to or for the benefit of the
Borrower’s or any such Subsidiary’s employees, (b) petty cash and other accounts, amounts on deposit in which do not exceed $100,000 in the aggregate at any one time, (c) escrow, trust and fiduciary accounts, and (d) any such accounts
maintained outside the U.S.; and 
 (l) after the Closing Date, the Collateral Agent shall have received (i) such other
Security Documents as may be required to be delivered pursuant to Section 5.10, and (ii) upon reasonable request by the Collateral Agent, evidence of compliance with any other requirements of Section 5.10. 

“Commitments” shall mean with respect to any Revolving Facility Lender, such Revolving Facility Lender’s Revolving
Facility Commitment. 
 “Conduit Lender” shall mean any special purpose corporation organized and administered by any
Lender for the purpose of making Loans otherwise required to be made by such Lender and designated by such Lender in a written instrument; provided, that the designation by any Lender of a Conduit Lender shall not relieve the designating
Lender of any of its obligations to fund a Loan under this Agreement if, for any reason, its Conduit Lender fails to fund any such Loan, and the designating Lender (and not the Conduit Lender) shall have the sole right and responsibility to deliver
all consents and waivers required or requested under this Agreement with respect to its Conduit Lender; provided, further, that no Conduit Lender shall (a) be entitled to receive any greater amount pursuant to Section 2.15, 2.16, 2.17
or 9.05 than the designating Lender would have been entitled to receive in respect of the extensions of credit made by such Conduit Lender or (b) be deemed to have any Commitment. 

“Consolidated Debt” at any date shall mean the sum of (without duplication) the principal or face amount, regardless of
whether GAAP would require a different amount to be recited on the balance sheet of the Borrower, of all Indebtedness (other than letters of credit or bank guarantees, to the extent undrawn) consisting of Capital Lease Obligations, Indebtedness for
borrowed money, Disqualified Stock and Indebtedness in respect of the deferred purchase price of property or services of the Borrower and the Subsidiaries, in each case, as determined on a consolidated basis on such date. 

“Consolidated Net Income” shall mean, with respect to any person for any period, the aggregate of the Net Income of such
person and its subsidiaries for such period, on a consolidated basis; provided, however, that, without duplication, 

(i) any net after tax extraordinary, nonrecurring or unusual gains or losses or income or expense or charge (less all fees
and expenses relating thereto) including, without limitation, any severance, relocation or other restructuring expenses, any expenses related to any reconstruction, decommissioning, recommissioning or reconfiguration of fixed assets for alternative
uses, fees, expenses or charges relating to new product lines, plant shutdown costs, curtailments or modifications to pension and post-retirement employee benefit plans, excess pension charges, acquisition integration costs, facilities opening
costs, and expenses or charges related to any offering of Equity Interests or debt securities of Holdings or any Parent Entity, any Investment, acquisition, 

  
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disposition, recapitalization or issuance, repayment, refinancing, amendment or modification of Indebtedness (in each case, whether or not successful), in each case, shall be excluded, 

(ii) any net after tax income or loss from abandoned, closed or discontinued operations and any net after tax gain or loss
on disposal of disposed, abandoned, transferred, closed or discontinued operations shall be excluded, 
 (iii) any net
after tax gain or loss (less all fees and expenses or charges relating thereto) attributable to business dispositions or asset dispositions other than in the ordinary course of business (as determined in good faith by the Borrower) shall be
excluded, 
 (iv) any net after tax income or loss (less all fees and expenses or charges relating thereto) attributable
to the early extinguishment of indebtedness, Swap Agreements or other derivative instruments resulting from fair-value accounting required by the applicable standards under GAAP shall be excluded, 

(v) (A) the equity interest in the Net Income for such period of any person that is not a subsidiary of such person, or is
an Unrestricted Subsidiary, or that is accounted for by the equity method of accounting, shall be included only to the extent of the amount of dividends or distributions or other payments paid in cash (or to the extent converted into cash) to the
referent person or a subsidiary thereof in respect of such period and (B) the Net Income for such period shall include any ordinary course dividend, distribution or other payment in cash received from any person in excess of the amounts included in
clause (A), 
 (vi) Consolidated Net Income for such period shall not include the cumulative effect of a change in
accounting principles during such period, 
 (vii) effects of purchase accounting adjustments (including the effects of
such adjustments pushed down to such person and its subsidiaries) in component amounts required or permitted by GAAP, resulting from the application of purchase accounting in relation to any acquisition consummated after the Closing Date or the
amortization or write-off of any amounts thereof, net of taxes, shall be excluded, 
 (viii) any non-cash impairment
charges or asset write-offs, in each case pursuant to GAAP, and the amortization of intangibles, including key money amortization, arising pursuant to GAAP shall be excluded; 

(ix) any non cash expenses realized or resulting from stock option plans, employee benefit plans or post-employment
benefit plans, or grants or sales of stock, stock appreciation or similar rights, stock options, restricted stock, preferred stock or other rights shall be excluded, 

(x) expenses associated with additional accruals and reserves that were established or adjusted within twelve months after
February 28, 2012 and that are so required to be established or adjusted in accordance with GAAP or as a result of adoption or modification of accounting policies shall be excluded, 

  
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 (xi) non-cash gains, losses, income and expenses resulting from fair value
accounting required by the applicable standards under GAAP and related interpretations shall be excluded, 
 (xii) to
the extent otherwise included in Consolidated Net Income any currency translation gains and losses related to currency remeasurements of Indebtedness, and any net loss or gain resulting from Swap Agreements for currency exchange risk, shall be
excluded, 
 (xiii) (i) the non-cash portion of “straight-line” rent expense shall be excluded, (ii) the cash
portion of “straight-line” rent expense which exceeds the amount expensed in respect of such rent expense shall be included, (iii) the non-cash amortization of tenant allowances shall be excluded and (iv) cash received from landlords for
tenant allowances shall be included, 
 (xiv) an amount equal to the amount of any Restricted Payments actually made to
any parent or equity holder of such person in respect of such period in accordance with Section 6.06 shall be included as though such amounts had been paid as income taxes directly by such person for such period, and 

(xv) any (a) one-time non-cash compensation charges, (b) costs and expenses after February 28, 2012 related to employment
of terminated employees (including but not limited to change of control payments, “gross up” payments under Code Sections 280G and 4999 and the acceleration of options) or (c) costs or expenses realized in connection with or resulting from
stock appreciation or similar rights, stock options or other rights existing on February 28, 2012 of officers, directors and employees, in each case of such person or any of its Subsidiaries, shall be excluded. 

“Consolidated Total Assets” shall mean, as of any date, the total assets of the Borrower and the consolidated Subsidiaries,
determined in accordance with GAAP, as set forth on the consolidated balance sheet of the Borrower as of such date. 

“Control” shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management
or policies of a person, whether through the ownership of voting securities, by contract or otherwise, and “Controlling” and “Controlled” shall have meanings correlative thereto. 

“Control Agreement” means a control agreement, in form and substance reasonably satisfactory to the Administrative Agent,
executed and delivered by Borrower or one of its Subsidiaries, the Administrative Agent, and the applicable securities intermediary (with respect to a securities account) or bank (with respect to a deposit account). 

“Credit Event” shall have the meaning assigned to such term in Article IV. 

“Cure Amount” shall have the meaning assigned to such term in Section 7.03. 

  
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 “Cure Right” shall have the meaning assigned to such term in Section 7.03. 

“Debtor Relief Laws” shall mean the U.S. Bankruptcy Code and all other liquidation, conservatorship, bankruptcy, assignment
for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect. 

“Default” shall mean any event or condition which, but for the giving of notice, lapse of time or both would constitute an
Event of Default. 
 “Defaulting Lender” shall mean, subject to Section 2.22, any Lender that (a) has (i) failed to fund
all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such
Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, (ii) failed to pay to
the Administrative Agent, any Issuing Bank or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit) within two Business Days of the date when due, or (iii) become the
subject of a Bail-In Action (b) has notified the Borrower, the Administrative Agent or any Issuing Bank in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such
writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition precedent, together with
any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing
to the Administrative Agent and the Borrower that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written
confirmation by the Administrative Agent and the Borrower) or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had publicly appointed for it a receiver, custodian,
conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal
regulatory authority acting in such a capacity, or (iii) become the subject of a Bail-In Action; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any
direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of
judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a
Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.22) upon delivery of written
notice of such determination to the Borrower, each Issuing Bank and each Lender. 

  
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 “Disinterested Director” shall mean, with respect to any person and transaction,
a member of the Board of Directors of such person who does not have any material direct or indirect financial interest in or with respect to such transaction. 

“Disqualified Stock” shall mean, with respect to any person, any Equity Interests of such person that, by its terms (or by
the terms of any security or other Equity Interests into which it is convertible or for which it is redeemable or exchangeable), or upon the happening of any event or condition (a) matures or is mandatorily redeemable (other than solely for
Qualified Equity Interests), pursuant to a sinking fund obligation or otherwise (except as a result of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a change of control or asset sale event
shall be subject to the prior repayment in full of the Loans and all other Obligations that are accrued and payable and the termination of the Commitments), (b) is redeemable at the option of the holder thereof (other than solely for Qualified
Equity Interests), in whole or in part, (c) provides for the scheduled payments of dividends in cash or (d) either mandatorily or at the option of the holders thereof, is or becomes convertible into or exchangeable for Indebtedness or any other
Equity Interests that would constitute Disqualified Stock, in each case, prior to the date that is ninety-one (91) days after the earlier of (x) the Revolving Facility Maturity Date and (y) the date on which the Loans and all other Obligations that
are accrued and payable are repaid in full and the Commitments are terminated; provided, however, that only the portion of the Equity Interests that so mature or are mandatorily redeemable, are so convertible or exchangeable or are so
redeemable at the option of the holder thereof prior to such date shall be deemed to be Disqualified Stock; provided further, however, that if such Equity Interests are issued to any employee or to any plan for the benefit of
employees of the Borrower or the Subsidiaries or by any such plan to such employees, such Equity Interests shall not constitute Disqualified Stock solely because they may be required to be repurchased by the Borrower in order to satisfy applicable
statutory or regulatory obligations or as a result of such employee’s termination, death or disability; provided further, however, that any class of Equity Interests of such person that by its terms authorizes such person
to satisfy its obligations thereunder by delivery of Equity Interests that are not Disqualified Stock shall not be deemed to be Disqualified Stock. 

“Dollar Equivalent” shall mean, at any time, (a) with respect to any amount denominated in Dollars, such amount, and (b) with
respect to any amount denominated in any currency other than Dollars, the equivalent amount thereof in Dollars as determined by the Administrative Agent at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation
Date or other applicable date of determination) for the purchase of Dollars with such currency. 
 “Dollars” or
“$” shall mean lawful money of the United States of America. 
 “Domestic Subsidiary” shall mean any
Subsidiary that is not a Foreign Subsidiary, a Qualified CFC Holding Company or a Subsidiary listed on Schedule 1.01A. 

“EBITDA” shall mean, with respect to the Borrower and the Subsidiaries on a consolidated basis for any period, the
Consolidated Net Income of the Borrower and the Subsidiaries for such period plus (a) the sum of (in each case without duplication and to the extent the respective amounts described in subclauses (i) through (xiii) of this clause (a) reduced


  
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such Consolidated Net Income (and were not excluded therefrom) for the respective period for which EBITDA is being determined): 

(i) provision for Taxes based on income, profits or capital of the Borrower and the Subsidiaries for such period,
including, without limitation, state, franchise and similar Taxes and foreign withholding Taxes (including any penalties and interest related to such Taxes or arising from Tax examinations), 

(ii) Interest Expense (and to the extent not included in Interest Expense, (x) all cash dividend payments (excluding items
eliminated in consolidation) on any series of preferred stock or Disqualified Stock and (y) costs of surety bonds in connection with financing activities) of the Borrower and the Subsidiaries for such period (net of interest income of the Borrower
and the Subsidiaries for such period), 
 (iii) depreciation and amortization expenses of the Borrower and the
Subsidiaries for such period including the amortization of intangible assets, key money expense, deferred financing fees and capitalized software expenditures and amortization of unrecognized prior service costs and actuarial gains and losses
related to pensions and other post-employment benefits, 
 (iv) any expenses or charges (other than depreciation or
amortization expense as described in the preceding clause (iii)) related to any issuance of Equity Interests, Investment, acquisition, disposition, recapitalization or the incurrence, modification or repayment of Indebtedness permitted to be
incurred by this Agreement (including a refinancing thereof) (whether or not successful), including (x) such fees, expenses or charges related to the offering of the Senior Secured First Lien Notes and the Obligations and (y) any amendment or other
modification of the Obligations or other Indebtedness, 
 (v) commissions, discounts, yield and other fees and charges
(including any interest expense) related to any Permitted Receivables Financing, 
 (vi) restructuring charges or
reserves, 
 (vii) any other non cash charges; provided, that, for purposes of this subclause (vi) of this clause
(a), any non cash charges or losses shall be treated as cash charges or losses in any subsequent period during which cash disbursements attributable thereto are made (but excluding, for the avoidance of doubt, amortization of a prepaid cash item
that was paid in a prior period and any other item specifically identified in the definition of “Consolidated Net Income” or in this definition of “EBITDA”), 

(viii) the amount of management, consulting, monitoring, transaction and advisory fees and related expenses paid to the
Fund or any Fund Affiliate (or any accruals related to such fees and related expenses) during such period; provided, that such amount shall not exceed in any four quarter period the sum of (i) the greater of $6 million and 2.0% of EBITDA for
such four quarter period, plus any reasonable out of pocket costs and expenses in connection therewith and unpaid amounts accrued for prior periods, plus (ii) the amount of deferred fees (to the extent such fees would otherwise have been permitted
to be included in clause (i) if paid, but were not included in such clause (i)), 

  
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plus (iii) 2.0% of the value of transactions permitted hereunder and entered into by Holdings and the Subsidiaries with respect to which the Fund or any Fund Affiliate provides any of the
aforementioned types of services, plus (iv) the payment of the present value of all amounts payable pursuant to any agreement described in this subclause (vii) of this clause (a) in connection with the termination of such agreement, 

(ix) the amount of loss on sale of receivables and related assets to a Special Purpose Receivables Subsidiary in
connection with a Permitted Receivables Financing, 
 (x) any costs or expense incurred pursuant to any management
equity plan or stock option plan or any other management or employee benefit plan or agreement, to the extent that such cost or expenses are funded with cash proceeds contributed to the capital of the Borrower or a Subsidiary Loan Party, 

(xi) non-cash stock compensation expense including GAAP charges associated with any long-term incentive plan now in effect
or later established, 
 (xii) any non-cash charges associated with any income or loss from disposed, abandoned,
discontinued operations or store closures to the extent not already captured in (a)(ii) of the definition of “Consolidated Net Income”, 

(xiii) [Reserved], 

(xiv) Exchange Transaction Expenses, and 

(xv) [Reserved], 

minus (b) the sum of (without duplication and to the extent the amounts described in this clause (b) increased such Consolidated Net Income for the
respective period for which EBITDA is being determined) non cash items increasing Consolidated Net Income of the Borrower and the Subsidiaries for such period (but excluding any such items (A) in respect of which cash was received in a prior period
or will be received in a future period or (B) which represent the reversal of any accrual of, or cash reserve for, anticipated cash charges that reduced EBITDA in any prior period). 

“Economic Sanctions Laws” means those laws, executive orders, enabling legislation or regulations administered and enforced
by the United States or other Governmental Authority pursuant to which Sanctions have been imposed on any person, entity, organization, country or regime, including without limitation the Trading with the Enemy Act, the International Emergency
Economic Powers Act, the Iran Sanctions Act, the Sudan Accountability and Divestment Act. 
 “EEA Financial Institution”
shall mean (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an
institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated
supervision with its parent. 

  
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 “EEA Member Country” shall mean any of the member states of the European Union,
Iceland, Liechtenstein, and Norway. 
 “EEA Resolution Authority” shall mean any public administrative authority or any
person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Embargoed Person” shall mean (i) any country or territory that is the subject of a sanctions program administered by the
U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) or (ii) any party that (w) is publicly identified on the most current list of “Specially Designated Nationals and Blocked Persons” published by
OFAC, (x) is a “designated national” pursuant to OFAC’s Cuban Assets Control Regulations (31 C.F.R. 515.305), (y) resides, is organized or chartered, or has a place of business in a country or territory that is the subject of a
sanctions program administered by OFAC or (z) is publicly identified as prohibited from doing business with the United States under the International Emergency Economic Powers Act, the Trading With the Enemy Act, or any other requirement of law.

 “environment” shall mean ambient and indoor air, surface water and groundwater (including potable water, navigable water
and wetlands), the land surface or subsurface strata, natural resources such as flora and fauna, the workplace or as otherwise defined in any Environmental Law. 

“Environmental Laws” shall mean all applicable laws (including common law), rules, regulations, codes, ordinances, orders,
decrees or judgments, promulgated or entered into by any Governmental Authority, relating in any way to the environment, preservation or reclamation of natural resources, the generation, management, Release or threatened Release of, or exposure to,
any Hazardous Material or to occupational health and safety matters (to the extent relating to the environment or Hazardous Materials). 

“Equity Interests” of any person shall mean any and all shares, interests, rights to purchase or otherwise acquire, warrants,
options, participations or other equivalents of or interests in (however designated) equity or ownership of such person, including any preferred stock, any limited or general partnership interest and any limited liability company membership
interest, and any securities or other rights or interests convertible into or exchangeable for any of the foregoing. 

“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as the same may be amended from time to time and any
regulations promulgated and the rulings issued thereunder. 
 “ERISA Affiliate” shall mean any trade or business (whether
or not incorporated) that, together with the Borrower or a Subsidiary, is treated as a single employer under Section 414(b) or (c) of the Code, or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single
employer under Section 414(b) and (c) of the Code. 
 “ERISA Event” shall mean (a) any Reportable Event occurs or the
requirements of Section 4043(b) of ERISA apply with respect to a Plan; (b) the existence with respect to any Plan of an “accumulated funding deficiency” (as defined in Section 412 of the Code or Section


  
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302 of ERISA) and, on and after the effectiveness of Title I of the Pension Act, any failure by any Plan to satisfy the minimum funding standards (within the meaning of Section 412 of the Code or
Section 302 of ERISA) applicable to such Plan, whether or not waived; (c) the filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan, the
failure to make by its due date a required installment under Section 412(m) of the Code with respect to any Plan or the failure to make any required contribution to a Multiemployer Plan; (d) the incurrence by Holdings, the Borrower, a Subsidiary or
any ERISA Affiliate of any liability under Title IV of ERISA with respect to the termination of any Plan or Multiemployer Plan; (e) the receipt by Holdings, the Borrower, a Subsidiary or any ERISA Affiliate from the PBGC or a plan administrator of
any notice relating to an intention to terminate any Plan or to appoint a trustee to administer any Plan under Section 4042 of ERISA; (f) the incurrence by Holdings, the Borrower, a Subsidiary or any ERISA Affiliate of any liability with respect to
the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; (g) the receipt by Holdings, the Borrower, a Subsidiary or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from Holdings, the Borrower, a
Subsidiary or any ERISA Affiliate of any notice, concerning the impending imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of
ERISA (or, after the effectiveness of Title II of the Pension Act, that it is in endangered or critical status, within the meaning of Section 305 of ERISA); (h) the conditions for imposition of a lien under Section 302(f) of ERISA shall have been
met with respect to any Plan; (i) on and after the effectiveness of Title I of the Pension Act, a determination that any Plan is, or is expected to be, in “at risk” status (as defined in Section 303(i)(4)(A) of ERISA or Section
430(i)(4)(A) of the Code); or (j) the adoption of an amendment to a Plan requiring the provision of security to such Plan pursuant to Section 307 of ERISA. 

“EU Bail-In Legislation Schedule” shall mean the EU Bail-In Legislation Schedule published by the Loan Market Association (or
any successor person), as in effect from time to time. 
 “Eurocurrency Borrowing” shall mean a Borrowing comprised of
Eurocurrency Loans. 
 “Eurocurrency Loan” shall mean any Revolving Facility Loan bearing interest at a rate determined by
reference to the Adjusted LIBO Rate in accordance with the provisions of Article II. 
 “European Term Loan Credit
Agreement” shall mean that certain Credit Agreement, dated as of August 12, 2016 and effective as of September 20, 2016, by and among Claire’s (Gibraltar) Holdings Limited, the Lenders party thereto and Credit Suisse AG as
Administrative Agent thereunder. 
 “Event of Default” shall have the meaning assigned to such term in Section 7.01. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

“Exchange Transaction Documents” shall mean the Offer to Exchange by Claire’s Stores, Inc., CLSIP LLC, Claire’s
(Gibraltar) Holdings Limited, dated August 12, 2016, and all 

  
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documents related to the exchange contemplated therein, including, without limitation, the Term Loan Credit Agreement in substantially the form attached as Annex A-1 to such Offer to Exchange,
the Newco Term Loan Credit Agreement in substantially the form attached as Annex A-2 to such Offer to Exchange, the Intellectual Property Agreement between CLSIP LLC and CBI Distributing Corp. referred to therein, the Claire’s Gibraltar Term
Loan Credit Agreement in substantially the form attached as Annex A-3 to such Offer to Exchange, together with all collateral agreements, intercreditor agreements and other documents entered into in connection with any of the foregoing. 

“Exchange Transaction Expenses” shall mean any fees or expenses incurred or paid by the Fund, Holdings, the Borrower (or any
direct or indirect parent of the Borrower) or any of the Subsidiaries directly or indirectly in connection with the Exchange Transactions, this Agreement and the other Loan Documents and the Existing Revolving Credit Facility Documents (including
expenses in connection with Swap Agreements) and the transactions contemplated hereby and thereby including, without limitation, payments which are accelerated or increased by reason of the consummation of the Exchange Transactions. 

“Exchange Transactions” shall mean, collectively, the transactions that have or will occur pursuant to the Exchange
Transaction Documents. 
 “Excluded Taxes” shall mean, with respect to the Administrative Agent, any Lender, any Issuing
Bank or any other recipient of any payment to be made by or on account of any obligation of any Loan Party under any Loan Document, (a) any income Taxes imposed on (or measured by) its net income (however denominated or franchise Taxes imposed in
lieu of net income Taxes) by the jurisdiction under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable lending office is located or any other jurisdiction
as a result of such recipient engaging in a trade or business in such jurisdiction for tax purposes, (b) any branch profits Tax or any similar Tax that is imposed by any jurisdiction described in clause (a) above, (c) in the case of a Lender making
a Loan, (x) except in the case of a Lender that is an assignee pursuant to a request by the Borrower under Section 2.19, any U.S. federal withholding Tax that is in effect and would apply to amounts payable hereunder to such Lender at the time such
Lender becomes a party to such Loan (or designates a new lending office) except to the extent that such Lender (or its assignor, if any) was entitled, immediately before the designation of a new lending office (or assignment), to receive additional
amounts from a Loan Party with respect to any withholding Tax pursuant to Section 2.17(a) or Section 2.17(c) or (y) any withholding Tax that is attributable to such Lender’s failure to comply with Section 2.17(e) or Section 2.17(f) with respect
to such Loan, and (d) any U.S. federal withholding Taxes imposed under FATCA. 
 “Existing European Revolving Credit
Agreement” shall mean that certain Multicurrency Revolving Facility Agreement, dated as of October 2, 2014, by and among Claire’s Accessories UK Ltd, the Guarantors party thereto and HSBC Bank PLC, as Lender (as amended, supplemented
or otherwise modified on the date hereof). 
 “Existing Letters of Credit” shall mean those Standby Letters of Credit
issued and outstanding under the First Amended and Restated Credit Agreement as of the Closing Date. 

  
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 “Existing Revolver L/C Rebalancing” shall have the meaning ascribed to such term
in the ABL Credit Agreement. 
 “Existing Revolver Rebalancing Borrowing” shall have the meaning ascribed to such term in
the ABL Credit Agreement. 
 “Facility” shall mean the respective facility and commitments utilized in making Loans and
credit extensions hereunder. 
 “Facility Fee” shall have the meaning assigned to such term in Section 2.12(a). 

“FATCA” shall mean Sections 1471 through 1474 of the Code (including, for the avoidance of doubt, any agreements entered into
pursuant to Section 1471(b)(1) of the Code) as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with) and any current or future regulations or official
interpretations thereof. 
 “FCPA” shall mean the Foreign Corrupt Practices Act of 1977, as amended, and the rules and
regulations thereunder. 
 “Federal Funds Rate” shall mean, for any day, the rate per annum equal to the weighted average
of the rates on overnight Federal funds transactions , as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day. 

“Fees” shall mean the Facility Fees, the L/C Participation Fees, the Issuing Bank Fees and the Administrative Agent Fees.

 “Financial Officer” of any person shall mean the Chief Financial Officer, principal accounting officer, Treasurer,
Assistant Treasurer or Controller (or the equivalents in the relevant jurisdictions) of such person. 
 “Financial Performance
Covenant” shall mean the covenant of the Borrower set forth in Section 6.11. 
 “First Lien Intercreditor
Agreement” shall mean the First Lien Intercreditor Agreement dated as of March 2, 2012, as amended (as the same may be amended, supplemented or otherwise modified from time to time), among the Collateral Agent in its capacity as collateral
agent under this Agreement and under the ABL Credit Agreement, the Bank of New York Mellon Trust Company, N.A., in its capacity as collateral agent and trustee under the Senior Secured First Lien Indenture as Indenture Agent (as defined therein)
thereunder, the Grantors referred to therein and each additional agent from time to time referred to therein. 
 “Fixed Charge
Coverage Ratio” shall mean, on any date, the ratio, determined on a Pro Forma Basis, of (a) EBITDA for the period of four consecutive fiscal quarters of the Borrower most recently ended as of such date, all determined on a consolidated
basis in accordance with GAAP to (b) Net Cash Interest Expense for such period. 

  
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 “Flood Insurance Laws” shall mean, collectively, (i) the National Flood
Insurance Act of 1968 as now or hereafter in effect or any successor statute thereto, (ii) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statue thereto, (iii) the National Flood Insurance Reform Act of 1994
as now or hereafter in effect or any successor statute thereto and (iv) the Flood Insurance Reform Act of 2004 as now or hereafter in effect or any successor statute thereto. 

“Foreign Lender” shall mean any Lender that is not a “United States Person” as defined in Section 7701(a)(30) of
the Code. 
 “Foreign Pledge Agreement” shall mean a pledge agreement with respect to the Pledged Collateral that
constitutes Equity Interests of a “first tier” Foreign Subsidiary, in form and substance reasonably satisfactory to the Administrative Agent; provided, that in no event shall more than 65% of the issued and outstanding voting Equity
Interests of such Foreign Subsidiary be pledged to secure Obligations of the Borrower. 
 “Foreign Subsidiary” shall mean
any Subsidiary that is incorporated or organized under the laws of any jurisdiction other than the United States of America, any State thereof or the District of Columbia. 

“Fronting Exposure” shall mean, at any time there is a Defaulting Lender, with respect to any Issuing Bank, such Defaulting
Lender’s Revolving Facility Percentage of Revolving L/C Exposure with respect to Letters of Credit issued by such Issuing Bank other than such Revolving L/C Exposure as to which such Defaulting Lender’s participation obligation has been
reallocated to other Lenders or cash collateralized in accordance with the terms hereof. 
 “Fund” shall mean,
collectively, Apollo Management VI, L.P. and other affiliated co-investment partnerships. 
 “Fund Affiliate” shall mean
(i) each Affiliate of the Fund and (ii) any individual who is a partner or employee of Apollo Management, L.P. or the Fund. 
 “Fund
Termination Fee” shall have the meaning specified in Section 6.07(b)(xiv). 
 “GAAP” shall mean generally accepted
accounting principles in effect from time to time in the United States, applied on a consistent basis, subject to the provisions of Section 1.02; provided that any reference to the application of GAAP in Sections 3.13(b), 3.20, 5.03, 5.07 and
6.02(e) to a Foreign Subsidiary (and not as a consolidated Subsidiary of the Borrower) shall mean generally accepted accounting principles in effect from time to time in the jurisdiction of organization of such Foreign Subsidiary. 

“Governmental Authority” shall mean any federal, state, local or foreign court or governmental agency, authority,
instrumentality or regulatory or legislative body. 
 “Guarantee” of or by any person (the “guarantor”)
shall mean (a) any obligation, contingent or otherwise, of the guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation payable or performable by another person (the “primary
obligor”) in any manner, whether directly or indirectly, and including any obligation of 

  
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the guarantor, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation (whether arising by virtue of
partnership arrangements, by agreement to keep well, to purchase assets, goods, securities or services, to take or pay or otherwise) or to purchase (or to advance or supply funds for the purchase of) any security for the payment of such Indebtedness
or other obligations, (ii) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (iii) to maintain working capital, equity capital or any other
financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, (iv) entered into for the purpose of assuring in any other manner the holders of such Indebtedness or
other obligation of the payment thereof or to protect such holders against loss in respect thereof (in whole or in part) or (v) as an account party in respect of any letter of credit, bank guarantee or other letter of guaranty issued to support such
Indebtedness or other obligation, or (b) any Lien on any assets of the guarantor securing any Indebtedness (or any existing right, contingent or otherwise, of the holder of Indebtedness to be secured by such a Lien) of any other person, whether or
not such Indebtedness or other obligation is assumed by the guarantor; provided, however, the term “Guarantee” shall not include endorsements for deposit or collection in the ordinary course of business or customary and
reasonable indemnity obligations in effect on the Closing Date or entered into in connection with any acquisition or disposition of assets permitted by this Agreement (other than such obligations with respect to Indebtedness). The amount of any
Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the Indebtedness in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof
(assuming such person is required to perform thereunder) as determined by such person in good faith. 
 “guarantor” shall
have the meaning assigned to such term in the definition of the term “Guarantee.” 
 “Hazardous Materials” shall
mean all pollutants, contaminants, wastes, chemicals, materials, substances and constituents, including, without limitation, explosive or radioactive substances or petroleum or petroleum distillates, asbestos or asbestos containing materials,
polychlorinated biphenyls or radon gas, of any nature subject to regulation or which can give rise to liability under any Environmental Law. 

“Holdings” shall have the meaning assigned to such term in the introductory paragraph of this Agreement. 

“Immaterial Subsidiary” shall mean any Subsidiary that (a) did not, as of the last day of the fiscal quarter of the Borrower
most recently ended, have assets with a value in excess of 2.5% of the Consolidated Total Assets or revenues representing in excess of 2.5% of total revenues of the Borrower and the Subsidiaries on a consolidated basis for the applicable Test
Period, and (b) taken together with all Immaterial Subsidiaries as of the last day of the fiscal quarter of the Borrower most recently ended, did not have assets with a value in excess of 5.0% of Consolidated Total Assets or revenues representing in
excess of 5.0% of total revenues of the Borrower and the Subsidiaries on a consolidated basis for the applicable Test Period. Each Immaterial Subsidiary as of the Closing Date shall be set forth in Schedule 1.01D. 

  
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 “Indebtedness” of any person shall mean, without duplication, (a) all
obligations of such person for borrowed money, (b) all obligations of such person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such person under conditional sale or title retention agreements relating to
property or assets purchased by such person, (d) all obligations of such person issued or assumed as the deferred purchase price of property or services, to the extent the same would be required to be shown as a long-term liability on a balance
sheet prepared in accordance with GAAP, (e) all Capital Lease Obligations of such person, (f) all net payments that such person would have to make in the event of an early termination, on the date Indebtedness of such person is being determined, in
respect of outstanding Swap Agreements, (g) the principal component of all obligations, contingent or otherwise, of such person as an account party in respect of letters of credit and bank guarantees, (h) the principal component of all obligations
of such person in respect of bankers’ acceptances, (i) all Guarantees by such person of Indebtedness described in clauses (a) to (h) above) and (j) the amount of all obligations of such person with respect to the redemption, repayment or other
repurchase of any Disqualified Stock (excluding accrued dividends that have not increased the liquidation preference of such Disqualified Stock); provided, that Indebtedness shall not include (A) trade payables, accrued expenses and
intercompany liabilities arising in the ordinary course of business, (B) prepaid or deferred revenue arising in the ordinary course of business, (C) purchase price holdbacks arising in the ordinary course of business in respect of a portion of the
purchase prices of an asset to satisfy unperformed obligations of the seller of such asset or (D) earn-out obligations until such obligations become a liability on the balance sheet of such person in accordance with GAAP. The Indebtedness of
any person shall include the Indebtedness of any partnership in which such person is a general partner, other than to the extent that the instrument or agreement evidencing such Indebtedness expressly limits the liability of such person in respect
thereof. To the extent not otherwise included, Indebtedness shall include the amount of any Receivables Net Investment. 

“Indemnified Taxes” shall mean all Taxes other than Excluded Taxes and Other Taxes. 

“Indemnitee” shall have the meaning assigned to such term in Section 9.05(b). 

“Ineligible Institution” shall mean the persons identified in writing to the Administrative Agent by the Borrower on the
Closing Date, and as may be identified in writing to the Administrative Agent by the Borrower from time to time thereafter in order to update such list with bona fide competitors of the Borrower and its Subsidiaries, with the written consent of the
Administrative Agent, by delivery of a notice thereof to the Administrative Agent setting forth such person or persons (or the person or persons previously identified to the Administrative Agent that are to be no longer considered “Ineligible
Institutions”). 
 “Interest Election Request” shall mean a request by the Borrower to convert or continue a Revolving
Facility Borrowing in accordance with Section 2.07. 
 “Interest Expense” shall mean, with respect to any person for any
period, the sum of (a) gross interest expense of such person for such period on a consolidated basis, including (i) the amortization of debt discounts, (ii) the amortization of all fees (including fees with respect to Swap Agreements) payable in
connection with the incurrence of Indebtedness to the extent 

  
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included in interest expense and (iii) the portion of any payments or accruals with respect to Capital Lease Obligations allocable to interest expense, (b) capitalized interest of such person,
and (c) commissions, discounts, yield and other fees and charges incurred in connection with any Permitted Receivables Financing which are payable to any person other than the Borrower or a Subsidiary Loan Party. For purposes of the foregoing,
gross interest expense shall be determined after giving effect to any net payments made or received and costs incurred by the Borrower and the Subsidiaries with respect to Swap Agreements, and interest on a Capitalized Lease Obligation shall be
deemed to accrue at an interest rate reasonably determined by the Borrower to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. 

“Interest Payment Date” shall mean, (a) with respect to any Eurocurrency Loan, the last day of the Interest Period applicable
to the Borrowing of which such Loan is a part and, in the case of a Eurocurrency Borrowing with an Interest Period of more than three months’ duration, each day that would have been an Interest Payment Date had successive Interest Periods of
three months’ duration been applicable to such Borrowing and, in addition, the date of any refinancing or conversion of such Borrowing with or to a Borrowing of a different Type and (b) with respect to any ABR Loan, the last Business Day of
each March, June, September and December. 
 “Interest Period” shall mean, as to any Eurocurrency Borrowing, the period
commencing on the date of such Borrowing or on the last day of the immediately preceding Interest Period applicable to such Borrowing, as applicable, and ending on the numerically corresponding day (or, if there is no numerically corresponding day,
on the last day) in the calendar month that is 1, 2, 3 or 6 months thereafter (or 12 months, if at the time of the relevant Borrowing, all Lenders make interest periods of such length available), as the Borrower may elect, or the date any
Eurocurrency Borrowing is converted to an ABR Borrowing in accordance with Section 2.07 or repaid or prepaid in accordance with Section 2.09, 2.10 or 2.11; provided, however, that if any Interest Period would end on a day other than a
Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business
Day. Interest shall accrue from and including the first day of an Interest Period to but excluding the last day of such Interest Period. 

“Interpolated Rate” shall mean, in relation to the LIBO Rate Loans for any Loan, the rate which results from interpolating on
a linear basis between: (a) the rate appearing on Reuters Screen LIBOR01 Page (or otherwise on the Reuters screen) for the longest period (for which that rate is available) which is less than the Interest Period and (b) the rate appearing on Reuters
Screen LIBOR01 Page (or otherwise on the Reuters screen) for the shortest period (for which that rate is available) which exceeds the Interest Period, each as of approximately 11:00 A.M., London time, two Business Days prior to the commencement of
such Interest Period. 
 “Investment” shall have the meaning assigned to such term in Section 6.04. 

“IP Sale and Lease Back Transaction” shall mean the transfer of intellectual property by CBI Distributing Corp. to CLSIP LLC
pursuant to the Intellectual Property Agreement entered into as of the Closing Date. 

  
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 “Issuing Bank” shall mean Credit Suisse and each other Issuing Bank designated
pursuant to Section 2.05(k), in each case in its capacity as an issuer of Letters of Credit hereunder, and its successors in such capacity as provided in Section 2.05(i). An Issuing Bank may, in its discretion, arrange for one or more Letters of
Credit to be issued by Affiliates of such Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate. 

“Issuing Bank Fees” shall have the meaning assigned to such term in Section 2.12(b). 

“Junior Financing” shall have the meaning assigned to such term in Section 6.09(b). 

“L/C Disbursement” shall mean a payment or disbursement made by an Issuing Bank pursuant to a Letter of Credit. 

“L/C Participation Fee” shall have the meaning assigned such term in Section 2.12(b). 

“Lender” shall mean each financial institution listed on Schedule 2.01 (other than any such person that has ceased to
be a party hereto pursuant to an Assignment and Acceptance in accordance with Section 9.04), as well as any person that becomes a “Lender” hereunder pursuant to Section 9.04. 

“lending office” shall mean, as to any Lender, the applicable branch, office or Affiliate of such Lender designated by such
Lender to make Loans. 
 “Letter of Credit” shall mean any letter of credit issued pursuant to Section 2.05, including any
Alternate Currency Letter of Credit. 
 “Letter of Credit Commitment” shall mean, with respect to each Issuing Bank, the
commitment of such Issuing Bank to issue Letters of Credit pursuant to Section 2.05. 
 “Letter of Credit Request” shall
mean a request by the Borrower substantially in the form of Exhibit C-3. 
 “Letter of Credit Sublimit” shall mean the
aggregate Letter of Credit Commitments of the Issuing Banks, in an amount not to exceed $35 million (or the equivalent thereof in an Alternate Currency). 

“LIBO Rate” shall mean, with respect to any Eurocurrency Borrowing for any Interest Period, the greater of (a) zero, and (b)
the rate per annum equal to the London interbank offered rate as administered by ICE Benchmark Administration Limited (“ICE LIBOR”), as published by Bloomberg (or other commercially available source providing quotations of ICE LIBOR
as designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period)
with a term equivalent to such Interest Period; provided, that if such rate is not available at such time for any reason, then the “LIBO Rate” for such Interest Period shall be the Interpolated Rate. 

  
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 “Lien” shall mean, with respect to any asset, (a) any mortgage, deed of trust,
lien, hypothecation, pledge, charge, security interest or similar encumbrance in or on such asset and (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease
having substantially the same economic effect as any of the foregoing) relating to such asset; provided that in no event shall an operating lease or an agreement to sell be deemed to constitute a Lien. 

“Loan Documents” shall mean this Agreement, the First Lien Intercreditor Agreement, the Second Lien Intercreditor Agreement,
the ABL Intercreditor Agreement, the Letters of Credit, the Security Documents and any Note issued under Section 2.09(e), and solely for the purposes of Section 7.01 hereof, the Fee Letter. 

“Loan Document Obligations” shall mean (a) the due and punctual payment by the Borrower of (i) the unpaid principal of and
interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans made to the Borrower, when and as due,
whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in
respect of reimbursement of disbursements, interest thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and
obligations to provide cash collateral and (iii) all other monetary obligations of the Borrower to any of the Secured Parties under this Agreement and each of the other Loan Documents, including obligations to pay fees, expense and reimbursement
obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding,
regardless of whether allowed or allowable in such proceeding), (b) the due and punctual performance of all other obligations of the Borrower under or pursuant to this Agreement and each of the other Loan Documents and (c) the due and punctual
payment and performance of all the obligations of each other Loan Party under or pursuant to this Agreement and each of the other Loan Documents. 

“Loan Parties” shall mean Holdings (prior to a Borrower Qualified IPO), the Borrower and the Subsidiary Loan Parties. 

“Loans” shall mean the Revolving Facility Loans. 

“Local Time” shall mean New York City time. 

“Management Group” shall mean the group consisting of the directors, executive officers and other management personnel of
Holdings, the Borrower and the Subsidiaries, as the case may be, on the Closing Date together with (x) any new directors whose election by such boards of directors or whose nomination for election by the shareholders of the Borrower or


  
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Holdings, as the case may be, was approved by a vote of a majority of the directors of the Borrower or Holdings, as the case may be, then still in office who were either directors on the Closing
Date or whose election or nomination was previously so approved and (y) executive officers and other management personnel of Holdings, the Borrower and the Subsidiaries, as the case may be, hired at a time when the directors on the Closing Date
together with the directors so approved constituted a majority of the directors of the Borrower or Holdings, as the case may be. 

“Margin Stock” shall have the meaning assigned to such term in Regulation U. 

“Material Adverse Effect” shall mean a material adverse effect on the business, property, operations or condition of the
Borrower and the Subsidiaries, taken as a whole, or the validity or enforceability of any of the material Loan Documents or the rights and remedies of the Administrative Agent and the Lenders thereunder. 

“Material Indebtedness” shall mean Indebtedness (other than Loans and Letters of Credit) of any one or more of Holdings, the
Borrower or any Subsidiary in an aggregate principal amount exceeding $30 million. 
 “Material Subsidiary” shall mean any
Subsidiary other than Immaterial Subsidiaries. 
 “Maximum Rate” shall have the meaning assigned to such term in Section
9.09. 
 “Moody’s” shall mean Moody’s Investors Service, Inc. 

“Mortgaged Properties” shall mean the Real Properties owned in fee by the Borrower and each Subsidiary Loan Party that are
set forth on Schedule 1.01B and each additional Real Property encumbered by a Mortgage pursuant to Section 5.10. 

“Mortgages” shall mean, collectively, the mortgages, trust deeds, deeds of trust, deeds to secure debt, assignments of leases
and rents, and other security documents delivered with respect to Mortgaged Properties, each in form reasonably satisfactory to the Administrative Agent), as amended, restated, supplemented or otherwise modified from time to time. 

“Multiemployer Plan” shall mean a multiemployer plan as defined in Section 4001(a)(3) of ERISA to which the Borrower,
Holdings or any Subsidiary or any ERISA Affiliate (other than one considered an ERISA Affiliate only pursuant to subsection (m) or (o) of Code Section 414) is making or accruing an obligation to make contributions, or has within any of the preceding
six plan years made or accrued an obligation to make contributions. 
 “Net Cash Interest Expense” shall mean, for any
period, total cash interest expense, net of interest income, of the Borrower and its consolidated Subsidiaries (other than Unrestricted Subsidiaries) for such period (including all commissions, discounts and other fees and charges owed with respect
to letters of credit and bankers’ acceptances and net costs under swap agreements in respect of interest rates to the extent such costs are paid in cash during such period), calculated on a consolidated basis. 

  
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 “Net Income” shall mean, with respect to any person, the net income (loss) of
such person, determined in accordance with GAAP and before any reduction in respect of preferred stock dividends. 
 “Non Consenting
Lender” shall have the meaning assigned to such term in Section 2.19(c). 
 “Note” shall have the meaning assigned
to such term in Section 2.09(e). 
 “Obligations” shall mean (a) the Loan Document Obligations, (b) the due and punctual
payment and performance of all obligations of each Loan Party under each Swap Agreement that (i) is in effect on the Closing Date with a counterparty that is a Lender or an agent or an Affiliate of a Lender as of the Closing Date or (ii) is
entered into after the Closing Date with any counterparty that is a Lender or an agent or an Affiliate of a Lender at the time such Swap Agreement is entered into and (c) the due and punctual payment and performance of all obligations of the
Borrower and any of its Subsidiaries in respect of overdrafts and related liabilities owed to a Lender or any of its Affiliates (or any other Person designated by the Borrower as a provider of cash management services and entitled to the benefit of
this Agreement) and arising from cash management services (including treasury, depository, overdraft, credit or debit card, electronic funds transfer, ACH services and other cash management arrangements). 

“Other Taxes” shall mean any and all present or future stamp or documentary Taxes or any other excise, transfer, sales,
property, intangible, mortgage recording, or similar Taxes arising from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise with respect to, the Loan Documents, and any and all interest, penalties and additions
related thereto (but not Excluded Taxes). 
 “Overadvance Amount” shall have the meaning ascribed to such term in the ABL
Credit Agreement. 
 “Parent Entity” shall mean any direct or indirect parent of Holdings. 

“Participant” shall have the meaning assigned to such term in Section 9.04(d). 

“PBGC” shall mean the Pension Benefit Guaranty Corporation referred to and defined in ERISA. 

“Pension Act” shall mean the Pension Protection Act of 2006, as amended. 

“Perfection Certificate” shall mean the Perfection Certificate with respect to the Borrower and the other Loan Parties in a
form reasonably satisfactory to the Administrative Agent. 
 “Permitted Business Acquisition” shall mean any acquisition in
the ordinary course of the Loan Parties’ business (including the acquisitions of stores, leases for stores or other operating assets) of all or substantially all the assets of, or all the Equity Interests (other than directors’ qualifying
shares) in, or merger, consolidation or amalgamation with, a person or 

  
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division or line of business of a person (or any subsequent investment made in a person, division or line of business previously acquired in a Permitted Business Acquisition), if immediately
after giving effect thereto: (i) no Event of Default shall have occurred and be continuing or would result therefrom; (ii) all transactions related thereto shall be consummated in accordance with applicable laws; (iii) any acquired or newly
formed Subsidiary shall not be liable for any Indebtedness except for Indebtedness permitted by Section 6.01; (iv) to the extent required by Section 5.10, any person acquired in such acquisition, if acquired by the Borrower or a Domestic Subsidiary,
shall be merged into the Borrower or a Subsidiary Loan Party or become upon consummation of such acquisition a Subsidiary Loan Party, and (v) the aggregate amount of such acquisitions and investments made for cash consideration shall not exceed $5
million. 
 “Permitted Cure Securities” shall mean any Equity Interests of Holdings or a Parent Entity issued pursuant to
the Cure Right other than Disqualified Stock. 
 “Permitted Holder” shall mean each of (i) the Fund and the Fund
Affiliates, and (ii) the Management Group. 
 “Permitted Investments” shall mean: 

(a) direct obligations of the United States of America or any member of the European Union or any agency thereof or
obligations guaranteed by the United States of America or any member of the European Union or any agency thereof, in each case with maturities not exceeding two years; 

(b) time deposit accounts, certificates of deposit and money market deposits maturing within 180 days of the date of
acquisition thereof issued by a bank or trust company that is organized under the laws of the United States of America, any state thereof or any foreign country recognized by the United States of America having capital, surplus and undivided profits
in excess of $250.0 million and whose long term debt, or whose parent holding company’s long term debt, is rated A by S&P or A by Moody’s; 

(c) repurchase obligations with a term of not more than 180 days for underlying securities of the types described in
clause (a) above entered into with a bank meeting the qualifications described in clause (b) above; 
 (d) commercial
paper, maturing not more than one year after the date of acquisition, issued by a corporation (other than an Affiliate of the Borrower) organized and in existence under the laws of the United States of America or any foreign country recognized by
the United States of America with a rating at the time as of which any investment therein is made of P 1 (or higher) according to Moody’s, or A 1 (or higher) according to S&P; 

(e) securities with maturities of two years or less from the date of acquisition issued or fully guaranteed by any State,
commonwealth or territory of the United States of America, or by any political subdivision or taxing authority thereof, and rated at least A by S&P or A by Moody’s; 

  
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 (f) shares of mutual funds whose investment guidelines restrict 95% of such
funds’ investments to those satisfying the provisions of clauses (a) through (e) above; 
 (g) money market funds
that (i) comply with the criteria set forth in Rule 2a 7 under the Investment Company Act of 1940, (ii) are rated AAA by S&P and Aaa by Moody’s and (iii) have portfolio assets of at least $5,000.0 million; 

(h) time deposit accounts, certificates of deposit and money market deposits in an aggregate face amount not in excess of
0.5% of the total assets of the Borrower and the Subsidiaries, on a consolidated basis, as of the end of the Borrower’s most recently completed fiscal year; and 

(i) instruments equivalent to those referred to in clauses (a) through (h) above denominated in any foreign currency
comparable in credit quality and tenor to those referred to above and commonly used by corporations for cash management purposes in any jurisdiction outside the United States to the extent reasonably required in connection with any business
conducted by any Subsidiary organized in such jurisdiction. 
 “Permitted Liens” shall have the meaning assigned to such
term in Section 6.02. 
 “Permitted Receivables Documents” shall mean all documents and agreements evidencing, relating to
or otherwise governing a Permitted Receivables Financing. 
 “Permitted Receivables Financing” shall mean one or more
transactions pursuant to which (i) Receivables Assets or interests therein are sold to or financed by one or more Special Purpose Receivables Subsidiaries, and (ii) such Special Purpose Receivables Subsidiaries finance their acquisition of such
Receivables Assets or interests therein, or the financing thereof, by selling or borrowing against Receivables Assets; provided, that (A) recourse to the Borrower or any Subsidiary (other than the Special Purpose Receivables Subsidiaries) in
connection with such transactions shall be limited to the extent customary for similar transactions in the applicable jurisdictions (including, to the extent applicable, in a manner consistent with the delivery of a “true
sale”/“absolute transfer” opinion with respect to any transfer by the Borrower or any Subsidiary (other than a Special Purpose Receivables Subsidiary) and (B) the aggregate Receivables Net Investment since the Closing Date shall not
exceed $50 million at any time outstanding. 
 “Permitted Refinancing Indebtedness” shall mean any Indebtedness issued in
exchange for, or the net proceeds of which are used to extend, refinance, renew, replace, defease or refund (collectively, to “Refinance”), the Indebtedness being Refinanced (or previous refinancings thereof constituting Permitted
Refinancing Indebtedness); provided, that (a) the principal amount (or accreted value, if applicable) of such Permitted Refinancing Indebtedness does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness so
Refinanced (plus unpaid accrued interest and premium (including tender premiums) thereon and underwriting discounts, defeasance costs, fees, commissions and expenses), (b) except with respect to Section 6.01(i), the weighted average life to maturity
of such Permitted Refinancing Indebtedness is greater than or equal to the shorter of (i) the weighted average life to maturity of the Indebtedness being Refinanced and (ii) the weighted average life to maturity that would result if all payments of
principal on the Indebtedness being Refinanced that were due on or after the date that is one year following the Revolving Facility Maturity Date were instead due on the date that is one year following the Revolving Facility Maturity Date, (c) if
the Indebtedness being Refinanced is subordinated in right of payment to the Obligations under this Agreement, such Permitted Refinancing Indebtedness shall be subordinated in right of payment to such Obligations on terms at least as favorable to
the Lenders as those contained in the documentation governing the Indebtedness being Refinanced and (d) no Permitted Refinancing Indebtedness shall have different obligors, or greater guarantees or security, than the Indebtedness being Refinanced,
except that the Indebtedness under the Existing European Revolving Credit Agreement may be refinanced by Claire’s (Gibraltar) Intermediate Holdings Limited instead of Claire’s (Gibraltar) Holdings Limited in connection with the refinancing
of such Indebtedness; provided further, that with respect to a Refinancing of (x) the Senior Subordinated Notes or other Indebtedness permitted hereunder that is subordinated, such Permitted Refinancing Indebtedness shall (i) be
subordinated to the guarantee by the Loan Parties of the Facilities, and (ii) be otherwise on terms not materially less favorable to the Lenders than those contained in the documentation governing the Indebtedness being Refinanced. 

  
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 “person” shall mean any natural person, corporation, business trust, joint
venture, association, company, partnership, limited liability company or government, individual or family trusts, or any agency or political subdivision thereof. 

“Plan” shall mean any employee pension benefit plan (other than a Multiemployer Plan) that is, (i) subject to the provisions
of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and (ii) sponsored or maintained (at the time of determination or at any time within the five years prior thereto) by Holdings, the Borrower or any ERISA Affiliate, and (iii)
in respect of which Holdings, the Borrower, any Subsidiary or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 

“Platform” shall have the meaning assigned to such term in Section 9.17(a). 

“Pledged Collateral” shall have the meaning assigned to such term in the Collateral Agreement. 

“primary obligor” shall have the meaning given such term in the definition of the term “Guarantee.” 

“Pro Forma Basis” shall mean, as to any person, for any events as described below that occur subsequent to the commencement
of a period for which the financial effect of such events is being calculated, and giving effect to the events for which such calculation is being made, such calculation as will give pro forma effect to such events as if such events occurred on the
first day of the four consecutive fiscal quarter period ended on or before the occurrence of such event (the “Reference Period”): (i) in making any determination of EBITDA, effect shall be given to any Asset Sale, any acquisition,
Investment, disposition, merger, amalgamation, consolidation (or any similar transaction or transactions not otherwise permitted under Section 6.04 or 6.05 that require a waiver or consent of the Required Lenders and such waiver or consent has been
obtained), any dividend, distribution or other similar payment, any designation of any Subsidiary as an Unrestricted Subsidiary and any Subsidiary Redesignation, and any restructurings of the business of the Borrower or any of the Subsidiaries that
the Borrower or any of the Subsidiaries has determined to make and/or made and are expected to 

  
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have a continuing impact and are factually supportable, which would include cost savings resulting from head count reduction, closure of facilities and similar operational and other cost savings,
which adjustments the Borrower determines are reasonable as set forth in a certificate of a Financial Officer of the Borrower (the foregoing, together with any transactions related thereto or in connection therewith, the “relevant
transactions”), in each case that occurred during the Reference Period (or (x) in the case of restructurings determined to be made, will occur within twelve months after the date of such certificate or (y) in the case of determinations made
pursuant to the definition of the term “Permitted Business Acquisition” or pursuant to any other calculation of the Senior Secured Leverage Ratio (except any determination of whether a Default has occurred under Section 6.11),
occurring during the Reference Period or thereafter and through and including the date upon which the respective Permitted Business Acquisition or incurrence of Indebtedness or Liens or other relevant transaction is consummated), (ii) in making any
determination on a Pro Forma Basis, (x) all Indebtedness (including Indebtedness issued, incurred or assumed as a result of, or to finance, any relevant transactions and for which the financial effect is being calculated, whether incurred under this
Agreement or otherwise, but excluding normal fluctuations in revolving Indebtedness incurred for working capital purposes and amounts outstanding under any Permitted Receivables Financing, in each case not to finance any acquisition) issued,
incurred, assumed or permanently repaid during the Reference Period (or, in the case of determinations made pursuant to the definition of the term “Permitted Business Acquisition” or any other calculation of the Senior Secured Leverage
Ratio (except any determination of whether a Default has occurred under Section 6.11), occurring during the Reference Period or thereafter and through and including the date upon which the respective Permitted Business Acquisition or incurrence of
Indebtedness or Liens or other relevant transaction is consummated) shall be deemed to have been issued, incurred, assumed or permanently repaid at the beginning of such period and (y) Interest Expense of such person attributable to interest on any
Indebtedness, for which pro forma effect is being given as provided in preceding clause (x), bearing floating interest rates shall be computed on a pro forma basis as if the rates that would have been in effect during the period for which pro forma
effect is being given had been actually in effect during such periods and (iii) (A) any Subsidiary Redesignation then being designated, effect shall be given to such Subsidiary Redesignation and all other Subsidiary Redesignations after the first
day of the relevant Reference Period and on or prior to the date of the respective Subsidiary Redesignation then being designated, collectively, and (B) any designation of a Subsidiary as an Unrestricted Subsidiary, effect shall be given to such
designation and all other designations of Subsidiaries as Unrestricted Subsidiaries after the first day of the relevant Reference Period and on or prior to the date of the then applicable designation of a Subsidiary as an Unrestricted Subsidiary,
collectively. 
 Pro forma calculations made pursuant to the definition of the term “Pro Forma Basis” shall be determined
in good faith by a Responsible Officer of the Borrower and may include, (i) for any fiscal period ending on or prior to the second anniversary of any relevant pro forma event, adjustments to reflect (1) operating expense reductions and other
operating improvements, synergies or cost savings reasonably expected to result from such relevant pro forma event (including, to the extent applicable, the Exchange Transactions) and (2) all adjustments of the type used in connection with the
calculation of Adjusted EBITDA as set forth in footnote 2 to the “Summary Historical Consolidated Financial Information” under “Summary” in the Notes Offering Memorandum to the extent such adjustments, without duplication,
continue to be applicable. The Borrower shall deliver to the Administrative Agent a certificate of a 

  
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Financial Officer of the Borrower setting forth such demonstrable or additional operating expense reductions and other operating improvements, synergies or cost savings and information and
calculations supporting them in reasonable detail. 
 For purposes of this definition, any amount in a currency other than Dollars will be
converted to Dollars based on the average exchange rate for such currency for the most recent twelve month period immediately prior to the date of determination in a manner consistent with that used in calculating EBITDA for the applicable period.

 “Projections” shall mean the projections and any forward looking statements (including statements with respect to booked
business) of Holdings, the Borrower and the Subsidiaries furnished to the Lenders or the Administrative Agent by or on behalf of Holdings, the Borrower or any of the Subsidiaries prior to the Closing Date. 

“Qualified CFC Holding Company” shall mean a Wholly Owned Subsidiary of the Borrower (a) that is a Delaware limited liability
company that is treated as a disregarded entity for U.S. federal income tax purposes, (b) the primary asset of which consists of Equity Interests in either (i) one or more Foreign Subsidiaries or (ii) one or more other Qualified CFC Holding
Companies and (c) has no outstanding Guarantee of Indebtedness of Holdings, the Borrower or any Domestic Subsidiary. 
 “Qualified
Equity Interests” shall mean any Equity Interests other than Disqualified Stock. 
 “Qualified IPO” shall mean an
underwritten public offering of the Equity Interests of the Borrower, Holdings or any direct or indirect parent of Holdings which generates cash proceeds of at least $50 million. 

“Qualified Liens” shall mean those Liens expressly permitted by Sections 6.02(d) or (e) (solely as such relate to (a)
statutory landlord’s liens on Inventory located on such leased premises of the Loan Parties or (b) possessory liens of a carrier or warehouseman or similar possessory liens upon Inventory in the possession of such carrier or warehouseman
securing only the freight charges or storage charges for the transportation or storage of such Inventory of the Loan Parties) and 6.02(k)). 

“Real Property” shall mean, collectively, all right, title and interest (including any leasehold estate) in and to any and
all parcels of or interests in real property owned in fee or leased by any Loan Party, together with, in each case, all easements, hereditaments and appurtenances relating thereto, and all improvements and appurtenant fixtures incidental to the
ownership or lease thereof. 
 “Receivables Assets” shall mean accounts receivable (including any bills of exchange) and
related assets and property from time to time originated, acquired or otherwise owned by the Borrower or any Subsidiary. 

“Receivables Net Investment” shall mean the aggregate cash amount paid by the lenders or purchasers under any Permitted
Receivables Financing in connection with their purchase of, or the making of loans secured by, Receivables Assets or interests therein, as the 

  
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same may be reduced from time to time by collections with respect to such Receivables Assets or otherwise in accordance with the terms of the Permitted Receivables Documents (but excluding any
such collections used to make payments of items included in clause (c) of the definition of Interest Expense); provided, however, that if all or any part of such Receivables Net Investment shall have been reduced by application of any
distribution and thereafter such distribution is rescinded or must otherwise be returned for any reason, such Receivables Net Investment shall be increased by the amount of such distribution, all as though such distribution had not been made. 

“Reference Period” shall have the meaning assigned to such term in the definition of the term “Pro Forma Basis.”

 “Refinance” shall have the meaning assigned to such term in the definition of the term “Permitted Refinancing
Indebtedness,” and “Refinanced” shall have a meaning correlative thereto. 
 “Refinanced
Indebtedness” shall mean the Indebtedness described on Schedule 1.01E. 
 “Register”
shall have the meaning assigned to such term in Section 9.04(b). 
 “Regulation U” shall mean Regulation U of the Board as
from time to time in effect and all official rulings and interpretations thereunder or thereof. 
 “Regulation X” shall
mean Regulation X of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof. 

“Related Fund” shall mean, with respect to any Lender that is a fund that invests in bank or commercial loans and similar
extensions of credit, any other fund that invests in bank or commercial loans and similar extensions of credit and is advised or managed by (a) such Lender, (b) an Affiliate of such Lender or (c) an entity (or an Affiliate of such entity) that
administers, advises or manages such Lender. 
 “Related Parties” shall mean, with respect to any specified person, such
person’s Affiliates and the respective directors, trustees, officers, employees, agents and advisors of such person and such person’s Affiliates. 

“Release” shall mean any spilling, leaking, seepage, pumping, pouring, emitting, emptying, discharging, injecting, escaping,
leaching, dumping, disposing, depositing, emanating or migrating in, into, onto or through the environment. 
 “Remaining Present
Value” shall mean, as of any date with respect to any lease, the present value as of such date of the scheduled future lease payments with respect to such lease, determined with a discount rate equal to a market rate of interest for such
lease reasonably determined at the time such lease was entered into. 

  
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 “Reportable Event” shall mean any reportable event as defined in Section 4043(c)
of ERISA or the regulations issued thereunder, other than those events as to which the 30 day notice period referred to in Section 4043(c) of ERISA has been waived, with respect to a Plan. 

“Required Lenders” shall mean, at any time, Lenders (other than Defaulting Lenders) having a majority in aggregate principal
amount of the Revolving Facility Commitments of all Lenders (other than Revolving Facility Commitments of Defaulting Lenders) or, if the Revolving Facility Commitments shall have terminated, having a majority in aggregate principal amount of the
Revolving Facility Credit Exposure of all Lenders (other than Revolving Facility Credit Exposure of Defaulting Lenders). 

“Responsible Officer” of any person shall mean any executive officer or Financial Officer of such person and any other
officer or similar official thereof responsible for the administration of the obligations of such person in respect of this Agreement. 

“Restricted Payments” shall have the meaning assigned to such term in Section 6.06. 

“Revaluation Date” shall mean, with respect to any Alternate Currency Letter of Credit, each of the following: (i) each date
of issuance of an Alternate Currency Letter of Credit, (ii) each date of an amendment of any Alternate Currency Letter of Credit having the effect of increasing the amount thereof (solely with respect to the increased amount), (iii) each date of any
payment by the Issuing Bank under any Alternate Currency Letter of Credit, and (iv) such additional dates as the Administrative Agent or the Issuing Bank shall determine or the Required Lenders shall require. 

“Revolving Facility” shall mean the Revolving Facility Commitments and the extensions of credit made hereunder by the
Revolving Facility Lenders. 
 “Revolving Facility Borrowing” shall mean a Borrowing comprised of Revolving Facility Loans.

 “Revolving Facility Commitment” shall mean, with respect to each Revolving Facility Lender, the commitment of such
Revolving Facility Lender to make Revolving Facility Loans pursuant to Section 2.01, expressed as an amount representing the maximum aggregate permitted amount of such Revolving Facility Lender’s Revolving Facility Credit Exposure hereunder, as
such commitment may be (a) reduced from time to time pursuant to Section 2.08 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender under Section 9.04. The amount of each Lender’s Revolving Facility
Commitment is set forth on Schedule 2.01, or in the Assignment and Acceptance pursuant to which such Lender shall have assumed its Revolving Facility Commitment. The aggregate amount of the Lenders’ Revolving Facility Commitments on the
Closing Date is $75 million. 
 “Revolving Facility Credit Exposure” shall mean, at any time, the sum of (a) the aggregate
principal amount of the Revolving Facility Loans outstanding at such time, and (b) the Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Revolving Facility Lender at any time shall be the product of (x) such
Revolving Facility Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Revolving Facility Lenders, collectively, at such time. 

  
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 “Revolving Facility Lender” shall mean a Lender with a Revolving Facility
Commitment or with outstanding Revolving Facility Loans. 
 “Revolving Facility Loan” shall mean a Loan made by a Revolving
Facility Lender pursuant to Section 2.01. 
 “Revolving Facility Maturity Date” shall mean (i) February 4, 2019 or (ii) if
the Senior Subordinated Notes have not been repaid or refinanced in full on or before March 31, 2017, April 1, 2017. For purposes of this definition, the extension of the term of the 10.50% PIK Senior Subordinated Notes due 2017 to June 1, 2019
shall be deemed a refinancing. 
 “Revolving Facility Percentage” shall mean, with respect to any Revolving Facility
Lender, the percentage of the total Revolving Facility Commitments represented by such Lender’s Revolving Facility Commitment. If the Revolving Facility Commitments have terminated or expired, the Revolving Facility Percentages shall be
determined based upon the Revolving Facility Commitments most recently in effect, giving effect to any assignments pursuant to Section 9.04. 

“Revolving L/C Exposure” shall mean at any time the sum of (a) the aggregate undrawn amount of all Letters of Credit
outstanding at such time (calculated, in the case of Alternate Currency Letters of Credit, based on the Dollar Equivalent thereof) and (b) the aggregate principal amount of all L/C Disbursements that have not yet been reimbursed at such time
(calculated, in the case of Alternate Currency Letters of Credit, based on the Dollar Equivalent thereof). The Revolving L/C Exposure of any Revolving Facility Lender at any time shall mean its Revolving Facility Percentage of the aggregate
Revolving L/C Exposure at such time. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the
International Standard Practices, International Chamber of Commerce No. 590, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. Unless otherwise specified herein, the amount of a
Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, that with respect to any Letter of Credit that, by its terms or the terms of any document related thereto,
provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such
maximum stated amount is in effect at such time. 
 “S&P” shall mean Standard & Poor’s Ratings Group, Inc.

 “Sale and Lease Back Transaction” shall have the meaning assigned to such term in Section 6.03. 

“SEC” shall mean the Securities and Exchange Commission or any successor thereto. 

  
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 “Second Lien Intercreditor Agreement” shall mean the Second Lien Intercreditor
Agreement dated as of March 4, 2011 (as the same may be amended, supplemented or otherwise modified from time to time) among the Collateral Agent, as a First Lien Agent and each other First Lien Obligations Agent (as defined therein) thereunder from
time to time, the Bank of New York Mellon Trust Company, N.A., as a Second Priority Agent and each other Second Priority Agent (as defined therein) from time to time party thereto, Holdings, the Borrower and each Subsidiary of the Borrower referred
to therein. 
 “Second Restatement Effective Date” shall have the meaning assigned to such term in Amendment No. 3. 

“Secured Parties” shall mean the “Secured Parties” as defined in the Collateral Agreement. 

“Securities Act” shall mean the Securities Act of 1933, as amended. 

“Security Documents” shall mean the Mortgages, the Collateral Agreement, the Foreign Pledge Agreements and each of the
security agreements and other instruments and documents executed and delivered pursuant to any of the foregoing or pursuant to Section 5.10. 

“Senior Secured Debt” at any date shall mean (i) the aggregate principal amount of Consolidated Debt of the Borrower and the
Subsidiaries outstanding at such date that consists of, without duplication, (A) Revolving Facility Credit Exposure, (B) Indebtedness that in each case is then secured by a Lien (other than Liens securing the Senior Secured Second Lien Notes and
other Liens that are subordinated to the Liens securing the Obligations (it being understood that such Liens may be senior in priority to, or pari passu with, or junior in priority to, Liens securing Indebtedness other than the Obligations)
and (C) Indebtedness of a Subsidiary that is not a Loan Party, less (ii) without duplication, the sum of (x) Unrestricted Cash and Permitted Investments of the Borrower and the Subsidiaries on such date plus (y) prior to a Borrower Qualified IPO,
the lesser of (A) the Unrestricted Cash and Permitted Investments that would appear on an unconsolidated balance sheet of Holdings on such date and (B) 25% of EBITDA for the relevant four quarter period used in calculating the Total Net Secured
Leverage Ratio. 
 “Senior Secured First Lien Note Documents” shall mean the Senior Secured First Lien Notes and the Senior
Secured First Lien Notes Indenture. 
 “Senior Secured First Lien Notes” shall mean the 9.00% Senior Secured First Lien
Notes due 2019 in an aggregate principal amount of $1,125 million and the 6.125% Senior Secured First Lien Notes due 2020 in a principal amount of $210 million, in each case, issued by the Borrower pursuant to the Senior Secured First Lien Notes
Indenture and outstanding on the Closing Date. 
 “Senior Secured First Lien Notes Indenture” shall mean, collectively, the
Indenture dated as of February 28, 2012 and the Indenture dated March 15, 2013 under which the Borrower issued its Senior Secured First Lien Notes, in each case, among the Borrower, certain of the Subsidiaries party thereto and the trustee named
therein from time to time, as amended, restated, supplemented or otherwise modified from time to time in accordance with the requirements of this Agreement. 

  
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 “Senior Secured Second Lien Note Documents” shall mean the Senior Secured Second
Lien Notes and the Senior Secured Second Lien Notes Indenture. 
 “Senior Secured Second Lien Notes” shall mean up to $450
million aggregate principal amount of the Borrower’s 8.875% Senior Secured Second Lien Notes due 2019 issued pursuant to the Senior Secured Second Lien Notes Indenture and outstanding on the Second Restatement Effective Date. 

“Senior Secured Second Lien Notes Indenture” shall mean the Indenture dated as of March 4, 2011 under which the Senior
Secured Second Lien Notes were issued, among the Borrower and certain of the Subsidiaries party thereto and the trustee named therein from time to time, as amended, restated, supplemented or otherwise modified from time to time in accordance with
the requirements thereof and of this Agreement. 
 “Senior Subordinated Note Documents” shall mean the Senior Subordinated
Notes and the Senior Subordinated Notes Indenture. 
 “Senior Subordinated Notes” shall mean up to $85.2 million aggregate
principal amount of the Borrower’s 10.5% Senior Subordinated Notes due 2017 and up to $183.556 million 10.50% PIK Senior Subordinated Notes due 2017, issued pursuant to the Senior Subordinated Notes Indenture and outstanding on the Second
Restatement Effective Date. 
 “Senior Subordinated Notes Indenture” shall mean the Indenture dated as of May 29, 2007
under which the Senior Subordinated Notes were issued, among the Borrower and certain of the Subsidiaries party thereto and the trustee named therein from time to time, as amended, restated, supplemented or otherwise modified from time to time in
accordance with the requirements thereof and of this Agreement. 
 “Senior Unsecured Note Documents” shall mean the Senior
Unsecured Notes and the Senior Unsecured Notes Indenture. 
 “Senior Unsecured Notes” shall mean up to $320 million
aggregate principal amount of the Borrower’s 7.75% Senior Notes due 2020, issued pursuant to the Senior Unsecured Notes Indenture and outstanding on the Second Restatement Effective Date. 

“Senior Unsecured Notes Indenture” shall mean the Indenture dated as of May 14, 2013 under which the Senior Unsecured Notes
were issued, among the Borrower and certain of the Subsidiaries party thereto and the trustee named therein from time to time, as amended, restated, supplemented or otherwise modified from time to time in accordance with the requirements thereof and
of this Agreement. 
 “Special Purpose Receivables Subsidiary” shall mean a direct or indirect Subsidiary of the Borrower
established in connection with a Permitted Receivables Financing for the acquisition of Receivables Assets or interests therein, and which is organized in a manner intended to reduce the likelihood that it would be substantively consolidated with
the Borrower or any of the Subsidiaries (other than Special Purpose Receivables Subsidiaries) in the event the Borrower or any such Subsidiary becomes subject to a proceeding under the U.S. Bankruptcy Code (or other insolvency law). 

  
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 “Spot Rate” for a currency shall mean the rate determined by the Administrative
Agent or the Issuing Bank, as applicable, to be the rate quoted by the person acting in such capacity as the spot rate for the purchase by such person of such currency with another currency through its principal foreign exchange trading office at
approximately 11:00 a.m. on the date three Business Days prior to the date as of which the foreign exchange computation is made (or on such other day and time as may be mutually agreed by the Borrower and the Administrative Agent, provided such date
is not more than three Business Days prior to the date of such computation) or if such rate cannot be computed as of such date such other date as the Administrative Agent or the Issuing Bank shall reasonably determine is appropriate under the
circumstances; provided that the Administrative Agent or the Issuing Bank may obtain such spot rate from another financial institution designated by the Administrative Agent or the Issuing Bank if the person acting in such capacity does not
have as of the date of determination a spot buying rate for any such currency. 
 “Standby Letter of Credit” shall have the
meaning assigned to such term in Section 2.05(a). 
 “Statutory Reserves” shall mean, with respect to any currency, any
reserve, liquid asset or similar requirements established by any Governmental Authority of the United States of America or of the jurisdiction of such currency or any jurisdiction in which Loans in such currency are made to which banks in such
jurisdiction are subject for any category of deposits or liabilities customarily used to fund loans in such currency or by reference to which interest rates applicable to Loans in such currency are determined. 

“Subagent” shall have the meaning assigned to such term in Section 8.02. 

“Subordinated Intercompany Debt” shall have the meaning assigned to such term in Section 6.01(e). 

“subsidiary” shall mean, with respect to any person (herein referred to as the “parent”), any corporation,
partnership, association or other business entity (a) of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or more than 50% of the general partnership interests are,
at the time any determination is being made, directly or indirectly, owned, Controlled or held, or (b) that is, at the time any determination is made, otherwise Controlled, by the parent or one or more subsidiaries of the parent or by the parent and
one or more subsidiaries of the parent. 
 “Subsidiary” shall mean, unless the context otherwise requires, a subsidiary of
the Borrower. Notwithstanding the foregoing (and except for purposes of Sections 3.09, 3.13, 3.15, 3.16, 5.03, 5.09 and 7.01(k), and the definition of Unrestricted Subsidiary contained herein), an Unrestricted Subsidiary shall be deemed not to be a
Subsidiary of the Borrower or any of the Subsidiaries for purposes of this Agreement. 
 “Subsidiary Loan Parties” shall
mean (a) each Wholly Owned Domestic Subsidiary of the Borrower on the Closing Date (other than a Wholly Owned Domestic Subsidiary that is a Subsidiary of a Foreign Subsidiary and other than those set forth on Schedule 1.01F) and (b) each
Wholly Owned Domestic Subsidiary of the Borrower (other than a Wholly Owned Domestic Subsidiary that is a Subsidiary of a Foreign Subsidiary) that becomes, or is required to become, a party to the Collateral Agreement after the Closing Date. 

  
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 “Subsidiary Redesignation” shall have the meaning provided in the definition of
“Unrestricted Subsidiary” contained in this Section 1.01. 
 “Swap Agreement” shall mean any agreement with
respect to any swap, forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or
pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided, that no phantom stock or similar plan providing for payments only on account of
services provided by current or former directors, officers, employees or consultants of Holdings, the Borrower or any of the Subsidiaries shall be a Swap Agreement. 

“Synthetic Lease Obligations” shall mean obligations of a Loan Party as lessee/borrower under any transaction which is
classified as an operating lease under GAAP but as a financing for tax purposes. 
 “Taxes” shall mean any and all present
or future taxes, levies, imposts, duties (including stamp duties), deductions, withholdings or similar charges (including ad valorem charges) imposed by any Governmental Authority and any and all interest, penalties and additions
related thereto. 
 “Test Period” shall mean, on any date of determination, the period of four consecutive fiscal quarters
of the Borrower then most recently ended (taken as one accounting period). 
 “Total Net Secured Leverage Ratio” shall
mean, on any date, the ratio of (a) Senior Secured Debt as of such date to (b) EBITDA for the period of four consecutive fiscal quarters of the Borrower most recently ended as of such date, all determined on a consolidated basis in accordance with
GAAP; provided, that EBITDA shall be determined for the relevant Test Period on a Pro Forma Basis. 
 “Trade Letter of
Credit” shall have the meaning assigned to such term in Section 2.05(a). 
 “Trust Asset Account” shall mean
assets dedicated to fund deferred compensation amounts held within the Claire’s Stores, Inc. Amended and Restated Deferred Compensation Trust, effective February 4, 2005, by and among Claire’s Stores, Inc. and La Salle Bank National
Association which serves as a funding medium for the Claire’s Stores, Inc. Management Deferred Compensation Plan and the Claire’s Stores, Inc. 2005 Management Deferred Compensation Plan. 

“Type” shall mean, when used in respect of any Loan or Borrowing, the Rate by reference to which interest on such Loan or on
the Loans comprising such Borrowing is determined. For purposes hereof, the term “Rate” shall include the Adjusted LIBO Rate and the ABR. 

  
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 “Unfunded Pension Liability” shall mean, as of the most recent valuation date
for the applicable Plan, the excess of (1) the Plan’s actuarial present value (determined on the basis of reasonable assumptions employed by the independent actuary for such Plan for purposes of Section 412 of the Code or Section 302 of ERISA)
of its benefit liabilities (as defined in Section 4001(a)(16) of ERISA) over (2) the fair market value of the assets of such Plan. 

“Uniform Commercial Code” shall mean the Uniform Commercial Code as the same may from time to time be in effect in the State
of New York or the Uniform Commercial Code (or similar code or statute) of another jurisdiction, to the extent it may be required to apply to any item or items of Collateral. 

“Unrestricted Cash” shall mean cash or cash equivalents of the Borrower or any of the Subsidiaries that would not appear as
“restricted” on a consolidated balance sheet of the Borrower or any of the Subsidiaries; provided, that, solely for purposes of clause (ii)(y)(A) of the definition of “Senior Secured Debt”, “Unrestricted
Cash” shall mean cash or cash equivalents of Holdings or any of the Subsidiaries (other than the Borrower and its Subsidiaries) that would not appear as “restricted” on a consolidated balance sheet of Holdings or any of the
Subsidiaries. 
 “Unrestricted Subsidiary” shall mean (1) any Subsidiary identified on
Schedule 1.01F to the ABL Credit Agreement (each such Subsidiary shall automatically be an Unrestricted Subsidiary hereunder, without regard to the other provisions set forth herein) and (2) any Subsidiary designated by the
Borrower as an Unrestricted Subsidiary hereunder by written notice to the Administrative Agent; provided, that the Borrower shall only be permitted to so designate a new Unrestricted Subsidiary after the Closing Date and so long as (a) no
Default or Event of Default has occurred and is continuing or would result therefrom, (b) such Unrestricted Subsidiary shall be capitalized (to the extent capitalized by the Borrower or any of the Subsidiaries) through Investments as permitted by,
and in compliance with, Section 6.04(j), and any prior or concurrent Investments in such Subsidiary by the Borrower or any of the Subsidiaries shall be deemed to have been made under Section 6.04(j), (c) without duplication of clause (b), any assets
owned by such Unrestricted Subsidiary at the time of the initial designation thereof shall be treated as Investments pursuant to Section 6.04(j) and (d) such Subsidiary shall have been designated an “unrestricted subsidiary” (or otherwise
not be subject to the covenants and defaults) under the Senior Subordinated Notes Indenture, the Senior Unsecured Notes Indenture, the Senior Secured First Lien Notes Indenture, the Senior Secured Second Lien Notes Indenture, the Senior Unsecured
Notes Indenture and any other Indebtedness in excess of $100 million permitted to be incurred hereunder and all Permitted Refinancing Indebtedness in respect of any of the foregoing and all Disqualified Stock; provided, further, that
at the time of the initial Investment by the Borrower or any of the Subsidiaries in such Subsidiary, the Borrower shall designate such entity as an Unrestricted Subsidiary in a written notice to the Administrative Agent. The Borrower may designate
any Unrestricted Subsidiary to be a Subsidiary for purposes of this Agreement (each, a “Subsidiary Redesignation”); provided, further, that (i) such Unrestricted Subsidiary, both before and after giving effect to such
designation, shall be a Wholly Owned Subsidiary of the Borrower, (ii) no Default or Event of Default has occurred and is continuing or would result therefrom, (iii) the Borrower would be in compliance, on a Pro Forma Basis as of the last day of the
most recent fiscal quarter for which financial statements are available to the Borrower, with Section 6.11 (but only to the extent the Revolving Facility Credit Exposure then exceeds $15 million), (iv) all representations and warranties contained
herein and 

  
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in the Loan Documents shall be true and correct in all material respects with the same effect as though such representations and warranties have been made on and as of the date of such Subsidiary
Redesignation (both before and after giving effect thereto), unless stated to relate to a specific earlier date, in which case such representations and warranties shall be true and correct in all material respects as of such earlier date and (v) the
Borrower shall have delivered to the Administrative Agent an officer’s certificate executed by a Responsible Officer of the Borrower, certifying to the best of such officer’s knowledge, compliance with the requirements of preceding clauses
(i) through (iv), inclusive. Unrestricted Subsidiaries shall not be subject to the affirmative or negative covenants, or, except as specified in the definition of “Subsidiary,” Event of Default provisions contained in this Agreement. 

“U.S. Bankruptcy Code” shall mean Title 11 of the United States Code, as amended, or any similar federal or state law for the
relief of debtors. 
 “USA PATRIOT Act” shall mean the Uniting and Strengthening America by Providing Appropriate Tools
Required to Intercept and Obstruct Terrorism Act of 2001 (Title III of Pub. L. No. 107-56 (signed into law October 26, 2001)). 

“Wholly Owned Domestic Subsidiary” of any person shall mean a Domestic Subsidiary of such person that is a Wholly Owned
Subsidiary. 
 “Wholly Owned Foreign Subsidiary” of any person shall mean a Foreign Subsidiary of such person that is a
Wholly Owned Subsidiary. 
 “Wholly Owned Subsidiary” of any person shall mean a subsidiary of such person, all of the
Equity Interests of which (other than directors’ qualifying shares or nominee or other similar shares required pursuant to applicable law) are owned by such person or another Wholly Owned Subsidiary of such person. 

“Withdrawal Liability” shall mean liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such
Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 
 “Write-Down and Conversion
Powers” shall mean, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down
and conversion powers are described in the EU Bail-In Legislation Schedule. 
 SECTION 1.02. Terms Generally. The definitions
set forth or referred to in Section 1.01 shall apply equally to both the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words
“include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.” All references herein to Articles, Sections, Exhibits and Schedules shall be deemed references to
Articles and Sections of, and Exhibits and Schedules to, this Agreement unless the context shall otherwise require. Except as otherwise expressly provided herein, any reference in this Agreement to any Loan Document shall mean such document as
amended, restated, supplemented or otherwise modified from time to time in accordance with the requirements hereof and thereof. Except as otherwise expressly provided 

  
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herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time; provided, that, if the Borrower notifies the
Administrative Agent that the Borrower requests an amendment to any provision hereof to eliminate the effect of any change occurring after the Closing Date in GAAP or in the application thereof on the operation of such provision (or if the
Administrative Agent notifies the Borrower that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof,
then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. 

SECTION 1.03. [Reserved]. 

SECTION 1.04. Exchange Rates; Currency Equivalents. 

(a) The Administrative Agent shall determine the Spot Rate as of each Revaluation Date to be used for calculating Dollar Equivalent
amounts of Alternate Currency Letters of Credit. Such Spot Rate shall become effective as of such Revaluation Date and shall be the Spot Rate employed in converting any amounts between the Dollars and each Alternate Currency until the next
Revaluation Date to occur. Except for purposes of financial statements delivered by Loan Parties hereunder or except as otherwise provided herein, the applicable amount of any currency (other than Dollars) for purposes of the Loan Documents
shall be such Dollar Equivalent amount as so determined by the Administrative Agent. No Default or Event of Default shall arise as a result of any limitation or threshold set forth in U.S. Dollars in Article VI or paragraph (f) or (j) of
Section 7.01 being exceeded solely as a result of changes in currency exchange rates from those rates applicable on the first day of the fiscal quarter in which such determination occurs or in respect of which such determination is being made. 

(b) Wherever in this Agreement in connection with an Alternate Currency Letter of Credit, an amount, such as a required minimum or
multiple amount, is expressed in Dollars, such amount shall be the Dollar Equivalent of such Dollar amount (rounded to the nearest unit of such Alternate Currency, with 0.5 of a unit being rounded upward), as determined by the Administrative Agent.

 ARTICLE II  

The Credits 
 SECTION
2.01. Commitments. Subject to the terms and conditions set forth herein, each Lender agrees to make Revolving Facility Loans to the Borrower from time to time during the Availability Period in an aggregate principal amount that will not
result in (i) such Lender’s Revolving Facility Credit Exposure exceeding such Lender’s Revolving Facility Commitment, (ii) the Revolving Facility Credit Exposure exceeding the total Revolving Facility Commitments or (iii) the sum of the
Revolving Facility Credit Exposure and the ABL Facility Credit Exposure exceeding an aggregate amount of $75,000,000 at any time. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay
and reborrow Revolving Facility Loans. 

  
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 SECTION 2.02. Loans and Borrowings. 

(a) Each Loan shall be made as part of a Borrowing consisting of Loans under the same Facility and of the same Type made by the Lenders
ratably in accordance with their respective Commitments under the applicable Facility; provided, however, that Revolving Facility Loans shall be made by the Revolving Facility Lenders ratably in accordance with their respective
Revolving Facility Percentages on the date such Loans are made hereunder. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided, that the
Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Loans as required. 

(b) Subject to Section 2.14, each Borrowing shall be comprised entirely of ABR Loans or Eurocurrency Loans as the Borrower may request in
accordance herewith. Each Lender at its option may make any ABR Loan or Eurocurrency Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided, that any exercise of such option shall not
affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement and such Lender shall not be entitled to any amounts payable under Section 2.15 or 2.17 solely in respect of increased costs resulting from such
exercise and existing at the time of such exercise. 
 (c) At the commencement of each Interest Period for any Eurocurrency Borrowing,
such Borrowing shall be in an aggregate amount that is an integral multiple of the Borrowing Multiple and not less than the Borrowing Minimum. At the time that each ABR Revolving Facility Borrowing is made, such Borrowing shall be in an
aggregate amount that is an integral multiple of the Borrowing Multiple and not less than the Borrowing Minimum; provided, that an ABR Revolving Facility Borrowing may be in an aggregate amount that is equal to the entire unused balance of the
Revolving Facility Commitments or that is required to finance the reimbursement of an L/C Disbursement as contemplated by Section 2.05(e). Borrowings of more than one Type and under more than one Facility may be outstanding at the same time;
provided, that there shall not at any time be more than a total of 10 Eurocurrency Borrowings outstanding under the Revolving Facility. 

(d) Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request, or to elect to convert or
continue, any Borrowing if the Interest Period requested with respect thereto would end after the Revolving Facility Maturity Date. 

SECTION 2.03. Requests for Borrowings. To request a Revolving Facility Borrowing, the Borrower shall notify the
Administrative Agent of such request by telephone (a) in the case of a Eurocurrency Borrowing, not later than 12:00 p.m., Local Time, three Business Days before the date of the proposed Borrowing or (b) in the case of an ABR Borrowing, not later
than 12:00 noon, Local Time, one Business Day before the date of the proposed Borrowing; provided, that any such notice of an ABR Revolving Facility Borrowing to finance the reimbursement of an L/C Disbursement as contemplated by Section
2.05(e) may be given not later than 10:00 a.m., Local Time, on the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative
Agent of a written Borrowing Request in a form approved by the 

  
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Administrative Agent and signed by the Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02: 

(i) the aggregate amount of the requested Borrowing; 

(ii) the date of such Borrowing, which shall be a Business Day; 

(iii) whether such Borrowing is to be an ABR Borrowing or a Eurocurrency Borrowing; 

(iv) in the case of a Eurocurrency Borrowing, the initial Interest Period to be applicable thereto, which shall be a
period contemplated by the definition of the term “Interest Period”; and 
 (v) the location and number of the
Borrower’s account to which funds are to be disbursed. 
 If no election as to the Type of Revolving Facility Borrowing is specified, then the
requested Revolving Facility Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurocurrency Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s
duration. Promptly following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested
Borrowing. 
 SECTION 2.04. [Reserved]. 

SECTION 2.05. Letters of Credit. 

(a) General. Subject to the terms and conditions set forth herein, the Borrower, for its own benefit or for the benefit of any
Subsidiary, may request the issuance of (x) trade letters of credit in support of trade obligations of the Borrower and the Subsidiaries incurred in the ordinary course of business (such letters of credit issued for such purposes, “Trade
Letters of Credit”) and (y) standby letters of credit issued for any other lawful purposes of the Borrower and the Subsidiaries (other than to support the incurrence of Indebtedness for borrowed money by the Borrower or any Subsidiary)
(such letters of credit issued for such purposes, “Standby Letters of Credit”) for its own account or for the account of any Subsidiary in a form reasonably acceptable to the applicable Issuing Bank, at any time and from time to
time during the Availability Period and prior to the date that is 5 Business Days prior to the Revolving Facility Maturity Date. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any
form of letter of credit application or other agreement submitted by the Borrower to, or entered into by the Borrower with, an Issuing Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall control. Unless otherwise
expressly agreed by the Issuing Bank and the Borrower, when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the International Standby Practices shall apply to each Standby
Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each Trade Letter


  
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of Credit. “Letters of Credit” shall include Trade Letters of Credit and Standby Letters of Credit; provided that Credit Suisse shall be under no obligation to issue Trade
Letters of Credit. Each of the Existing Letters of Credit shall be deemed to be Letters of Credit issued under this Agreement on the Closing Date. 

(b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the
amendment, renewal (other than an automatic extension in accordance with paragraph (c) of this Section) or extension of an outstanding Letter of Credit), the Borrower shall hand deliver or telecopy (or transmit by electronic communication, if
arrangements for doing so have been approved by the applicable Issuing Bank) to the applicable Issuing Bank and the Administrative Agent (three Business Days in advance of the requested date of issuance, amendment or extension or such shorter period
as the Administrative Agent and the Issuing Bank in their sole discretion may agree) a Letter of Credit Request, or identifying the Letter of Credit to be amended or extended, and specifying the date of issuance, amendment or extension (which shall
be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount and currency (which may be Dollars or an Alternate Currency) of such Letter of Credit, the name and address
of the beneficiary thereof, whether such Letter of Credit constitutes a Standby Letter of Credit or a Trade Letter of Credit, and such other information as shall be necessary to issue, amend or extend such Letter of Credit. If requested by the
applicable Issuing Bank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended or extended only if
(and upon issuance, amendment or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment or extension (i) the Revolving L/C Exposure shall not exceed the Letter
of Credit Sublimit, (ii) the Revolving Facility Credit Exposure shall not exceed the total Revolving Facility Commitments and (iii) no Alternate Currency Letter of Credit shall be issued if, after giving effect thereto, the aggregate amount of L/C
Exposure with respect to all Alternate Currency Letters of Credit would exceed $30 million. 
 (c) Expiration Date. Each
Standby Letter of Credit shall expire at or prior to the close of business on the earlier of (i) the date one year (unless otherwise agreed upon by the Administrative Agent and the relevant Issuing Bank in their sole discretion) after the date of
the issuance of such Standby Letter of Credit (or, in the case of any renewal or extension thereof, one year (unless otherwise agreed upon by the Administrative Agent and the relevant Issuing Bank in their sole discretion) after such renewal or
extension) and (ii) the date that is five Business Days prior to the Revolving Facility Maturity Date; provided, that any Standby Letter of Credit with one year tenor may provide for automatic extension thereof for additional one year periods
(which, in no event, shall extend beyond the date referred to in clause (ii) of this paragraph (c)) so long as such Standby Letter of Credit permits the Issuing Bank to prevent any such extension at least once in each twelve-month period (commencing
with the date of issuance of such Standby Letter of Credit) by giving prior notice to the beneficiary thereof within a time period during such twelve-month period to be agreed upon at the time such Standby Letter of Credit is issued;
provided, further, that if the Issuing Bank and the Administrative Agent each consent in their sole discretion, the expiration date on any Standby Letter of Credit may extend beyond the date referred to in clause (ii) above, provided,
that (x) if any such Standby Letter of Credit is outstanding or is issued after the date that is 30 days prior to the Revolving Facility 

  
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Maturity Date the Borrower shall provide cash collateral pursuant to documentation reasonably satisfactory to the Administrative Agent and the relevant Issuing Bank in an amount equal to 105% of
the face amount of each such Standby Letter of Credit or provide a back-to-back letter of credit, in form and substance and from an issuing bank satisfactory to the relevant Issuing Bank on or prior to the date that is 30 days prior to the Revolving
Facility Maturity Date or, if later, such date of issuance and (y) each Lender’s participation in any undrawn Letter of Credit that is outstanding on the Revolving Facility Maturity Date shall terminate on the Revolving Facility Maturity Date.
Each Trade Letter of Credit shall expire on the earlier of (x) 180 days after such Trade Letter of Credit’s date of issuance or (y) the date that is five Business Days prior to the Revolving Facility Maturity Date. 

(d) Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof)
and without any further action on the part of the applicable Issuing Bank or the Revolving Facility Lenders, such Issuing Bank hereby grants to each Revolving Facility Lender, and each Revolving Facility Lender hereby acquires from such Issuing
Bank, a participation in such Letter of Credit equal to such Revolving Facility Lender’s Revolving Facility Percentage of the aggregate amount available to be drawn under such Letter of Credit (calculated, in the case of Alternate Currency
Letters of Credit, based on the Dollar Equivalent thereof). In consideration and in furtherance of the foregoing, each Revolving Facility Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the
applicable Issuing Bank, in Dollars, such Revolving Facility Lender’s Revolving Facility Percentage of each L/C Disbursement made by such Issuing Bank and not reimbursed by the Borrower on the date due as provided in paragraph (e) of this
Section, or of any reimbursement payment required to be refunded to the Borrower for any reason (calculated, in the case of any Alternate Currency Letter of Credit, based on the Dollar Equivalent thereof). Each Revolving Facility Lender acknowledges
and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension
of any Letter of Credit or the occurrence and continuance of a Default or Event of Default or reduction or termination of the Commitments or the fact that, as a result of changes in currency exchange rates, such Revolving Facility Lender’s
Revolving Facility Credit Exposure at any time might exceed its Revolving Facility Commitment at such time and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. 

(e) Reimbursement. If the applicable Issuing Bank shall make any L/C Disbursement in respect of a Letter of Credit, the
Borrower shall reimburse such L/C Disbursement by paying to the Administrative Agent an amount in Dollars equal to such L/C Disbursement (or, in the case of an Alternate Currency Letter of Credit, the Dollar Equivalent thereof) not later than 2:00
p.m., Local Time, on the next Business Day after the Borrower receives notice under paragraph (g) of this Section of such L/C Disbursement, together with accrued interest thereon from the date of such L/C Disbursement at the rate applicable to ABR
Loans; provided, that the Borrower may, subject to the conditions to borrowing set forth herein, request in accordance with Section 2.03 that such payment be financed with an ABR Revolving Facility Borrowing in an equivalent amount and, to
the extent so financed, the Borrower’s obligation to make such payment shall be discharged and replaced by the resulting ABR Revolving Facility Borrowing. If the Borrower fails to reimburse any L/C Disbursement when


  
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due, then the Administrative Agent shall promptly notify the applicable Issuing Bank and each other Revolving Facility Lender of the applicable L/C Disbursement, the payment then due from the
Borrower in respect thereof and, in the case of a Revolving Facility Lender, such Lender’s Revolving Facility Percentage thereof. Promptly following receipt of such notice, each Revolving Facility Lender shall pay to the Administrative Agent in
Dollars its Revolving Facility Percentage of the payment then due from the Borrower in the same manner as provided in Section 2.06 with respect to Loans made by such Lender (and Section 2.06 shall apply, mutatis mutandis, to the
payment obligations of the Revolving Facility Lenders), and the Administrative Agent shall promptly pay to the applicable Issuing Bank the amounts so received by it from the Revolving Facility Lenders. Promptly following receipt by the
Administrative Agent of any payment from the Borrower pursuant to this paragraph, the Administrative Agent shall distribute such payment to the applicable Issuing Bank or, to the extent that Revolving Facility Lenders have made payments pursuant to
this paragraph to reimburse such Issuing Bank, then to such Lenders and such Issuing Bank as their interests may appear. Any payment made by a Revolving Facility Lender pursuant to this paragraph to reimburse an Issuing Bank for any L/C
Disbursement (other than the funding of an ABR Revolving Loan as contemplated above) shall not constitute a Loan and shall not relieve the Borrower of its obligation to reimburse such L/C Disbursement. 

(f) Obligations Absolute. The obligation of the Borrower to reimburse L/C Disbursements as provided in paragraph (e) of this
Section shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any
Letter of Credit or this Agreement, or any term or provision therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate
in any respect, (iii) payment by the applicable Issuing Bank under a Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of Credit or (iv) any other event or circumstance whatsoever,
whether or not similar to any of the foregoing, that might, but for the provisions of this Section, constitute a legal or equitable discharge of, or provide a right of setoff against, the Borrower’s obligations hereunder. Neither the
Administrative Agent, the Lenders nor any Issuing Bank, nor any of their Related Parties, shall have any liability or responsibility by reason of or in connection with the issuance or transfer of any Letter of Credit or any payment or failure to
make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or
relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms or any consequence arising from causes beyond the control of such Issuing Bank, or any of the
circumstances referred to in clauses (i), (ii) or (iii) of the first sentence; provided, that the foregoing shall not be construed to excuse the applicable Issuing Bank from liability to the Borrower to the extent of any direct damages (as
opposed to consequential damages, claims in respect of which are hereby waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower that are determined by a decision of a court of competent jurisdiction to have been
caused by such Issuing Bank’s failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross
negligence or willful misconduct on the part of the applicable Issuing Bank, such Issuing Bank shall be deemed to have exercised 

  
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care in each such determination. In furtherance of the foregoing and without limiting the generality thereof, the parties agree that, with respect to documents presented which appear on
their face to be in substantial compliance with the terms of a Letter of Credit, the applicable Issuing Bank may, in its sole discretion, either accept and make payment upon such documents without responsibility for further investigation, regardless
of any notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms of such Letter of Credit. 

(g) Disbursement Procedures. The applicable Issuing Bank shall, promptly following its receipt thereof, examine all documents
purporting to represent a demand for payment under a Letter of Credit. Such Issuing Bank shall promptly notify the Administrative Agent and the Borrower by telephone (confirmed by telecopy) of any such demand for payment under a Letter of
Credit and whether such Issuing Bank has made or will make an L/C Disbursement thereunder; provided, that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse such Issuing Bank
and/or the Revolving Facility Lenders with respect to any such L/C Disbursement. 
 (h) Interim Interest. If an Issuing
Bank shall make any L/C Disbursement, then, unless the Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C
Disbursement is made to but excluding the date that the Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided, that, if such L/C Disbursement is not reimbursed by the Borrower when
due pursuant to paragraph (e) of this Section, then Section 2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment
by any Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Revolving Facility Lender to the extent of such payment. 

(i) Replacement of an Issuing Bank. An Issuing Bank may be replaced at any time by written agreement among the Borrower, the
Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank. The Administrative Agent shall notify the Revolving Facility Lenders of any such replacement of an Issuing Bank. At the time any such replacement shall become effective,
the Borrower shall pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 2.12. From and after the effective date of any such replacement, (i) the successor Issuing Bank shall have all the rights and obligations
of the replaced Issuing Bank under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or to any previous Issuing Bank,
or to such successor and all previous Issuing Banks, as the context shall require. After the replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of
such Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such replacement but shall not be required to issue additional Letters of Credit. 

(j) Cash Collateralization. If any Event of Default shall occur and be continuing, (i) in the case of an Event of Default
described in Section 7.01(h) or (i), on the Business Day or (ii) in the case of any other Event of Default, on the third Business Day, in each 

  
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case, following the date on which the Borrower receives notice from the Administrative Agent (or, if the maturity of the Loans has been accelerated, the Required Lenders) demanding the deposit of
cash collateral pursuant to this paragraph, the Borrower shall deposit in an account with or at the direction of the Administrative Agent, in the name of the Administrative Agent and for the benefit of the Revolving Facility Lenders, an amount in
cash in Dollars equal to the Revolving L/C Exposure as of such date plus any accrued and unpaid interest thereon; provided, that upon the occurrence of any Event of Default with respect to the Borrower described in clause (h) or (i) of
Section 7.01, the obligation to deposit such cash collateral shall become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind. Each such deposit pursuant to this paragraph
shall be held by the Collateral Agent as collateral for the payment and performance of the obligations of the Borrower under this Agreement. The Administrative Agent shall have exclusive dominion and control, including the exclusive right of
withdrawal, over such account. Other than any interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion of (i) for so long as an Event of Default shall be continuing, the
Administrative Agent and (ii) at any other time, the Borrower, in each case, in Permitted Investments and at the risk and expense of the Borrower, such deposits shall not bear interest. Interest or profits, if any, on such investments shall
accumulate in such account. Moneys in such account shall be applied by the Administrative Agent to reimburse each Issuing Bank for L/C Disbursements for which such Issuing Bank has not been reimbursed and, to the extent not so applied, shall be
held for the satisfaction of the reimbursement obligations of the Borrower for the Revolving L/C Exposure at such time or, if the maturity of the Loans has been accelerated (but subject to the consent of the Required Lenders), be applied to satisfy
other obligations of the Borrower under this Agreement. If the Borrower is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid)
shall be returned to the Borrower within three Business Days after all Events of Default have been cured or waived. 

(k) Additional Issuing Banks. From time to time, the Borrower may by notice to the Administrative Agent designate any
Revolving Facility Lender (in addition to Credit Suisse) that may agree (in its sole discretion) to act in such capacity and is reasonably satisfactory to the Administrative Agent as an Issuing Bank. Each such additional Issuing Bank shall
execute a counterpart of this Agreement upon the approval of the Administrative Agent (which approval shall not be unreasonably withheld) and shall thereafter be an Issuing Bank hereunder for all purposes. The Borrower can, in its sole
discretion, request the issuance of a Letter of Credit from any Issuing Bank. 
 (l) Reporting. Unless otherwise requested
by the Administrative Agent, each Issuing Bank shall (i) provide to the Administrative Agent copies of any notice received from the Borrower pursuant to Section 2.05(b) no later than the next Business Day after receipt thereof and (ii) report in
writing to the Administrative Agent (A) on or prior to each Business Day on which such Issuing Bank expects to issue, amend or extend any Letter of Credit, the date of such issuance, amendment or extension, and the aggregate face amount of the
Letters of Credit to be issued, amended or extended by it and outstanding after giving effect to such issuance, amendment or extension occurred (and whether the amount thereof changed), and the Issuing Bank shall be permitted to issue, amend or
extend such Letter of Credit if the Administrative Agent shall not have advised the Issuing Bank that such issuance, amendment or extension 

  
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would not be in conformity with the requirements of this Agreement, (B) on each Business Day on which such Issuing Bank makes any L/C Disbursement, the date of such L/C Disbursement and the
amount of such L/C Disbursement and (C) on any other Business Day, such other information with respect to the outstanding Letters of Credit issued by such Issuing Bank as the Administrative Agent shall reasonably request, including but not limited
to prompt verification of such information as may be requested by the Administrative Agent. Upon request from time to time by any Revolving Facility Lender, the Administrative Agent shall provide information with respect to the current amount
of Letters of Credit outstanding. 
 (m) L/C Rebalancings. Upon notification by the Borrower to the Administrative Agent
pursuant to Section 2.11(b) of the ABL Credit Agreement of an ABL Revolving L/C Rebalancing, the Administrative Agent shall advise the Revolving Facility Lenders of such ABL Revolving L/C Rebalancing. Any ABL Revolving L/C Rebalancing shall not
require any further action other than the notice by the Administrative Agent to the Issuer of such ABL Revolving L/C Rebalancing, and letters of credit formerly outstanding under the ABL Credit Agreement shall to the extent of such ABL L/C
Rebalancing Amount be Letters of Credit hereunder and shall no longer be ABL Letters of Credit. 
 (n) L/C Shifting. If
after giving effect to a prepayment under Section 2.11(b), the ABL Available Credit continues to exceed the current ABL Facility Credit Exposure, the Letters of Credit outstanding hereunder shall be deemed to be Letters of Credit outstanding under
the ABL Credit Agreement to the extent of such excess in accordance with Section 2.05(m) of the ABL Credit Agreement, and shall to such extent no longer be Letters of Credit issued hereunder. 

SECTION 2.06. Funding of Borrowings. 

(a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available
funds by 12:00 noon, Local Time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent will make such Loans available to the Borrower by promptly crediting
the amounts so received, in like funds, to an account of the Borrower as specified in the Borrowing Request; provided, that ABR Revolving Loans made to finance the reimbursement of an L/C Disbursement and reimbursements as provided in Section
2.05(e) shall be remitted by the Administrative Agent to the applicable Issuing Bank. 
 (b) Unless the Administrative Agent shall have
received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made
such share available on such date in accordance with paragraph (a) of this Section and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the
applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand (without duplication) such corresponding amount with interest thereon, for
each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of (A) the Federal Funds


  
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Rate and (B) a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation or (ii) in the case of the Borrower, the interest rate applicable to
ABR Loans at such time. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing. 

SECTION 2.07. Interest Elections. 

(a) Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurocurrency
Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurocurrency
Borrowing, may elect Interest Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably
among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. 

(b) To make an election pursuant to this Section, the Borrower shall notify the Administrative Agent of such election by telephone by the
time that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such telephonic Interest Election
Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Interest Election Request in the form of Exhibit D and signed by the Borrower. 

(c) Each telephonic and written Interest Election Request shall be irrevocable and shall specify the following information in compliance
with Section 2.02: 
 (i) the Borrowing to which such Interest Election Request applies and, if different options are
being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be specified for each resulting
Borrowing); 
 (ii) the effective date of the election made pursuant to such Interest Election Request, which shall be a
Business Day; 
 (iii) whether the resulting Borrowing is to be an ABR Borrowing or a Eurocurrency Borrowing; and 

(iv) if the resulting Borrowing is a Eurocurrency Borrowing, the Interest Period to be applicable thereto after giving
effect to such election, which shall be a period contemplated by the definition of the term “Interest Period.” 
 If any such Interest Election
Request requests a Eurocurrency Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. 

  
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 (d) Promptly following receipt of an Interest Election Request, the Administrative Agent
shall advise each Lender to which such Interest Election Request relates of the details thereof and of such Lender’s portion of each resulting Borrowing. 

(e) If the Borrower fails to deliver a timely Interest Election Request with respect to a Eurocurrency Borrowing prior to the end of the
Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be converted to an ABR Borrowing. Notwithstanding any contrary provision hereof, if an Event
of Default has occurred and is continuing and the Administrative Agent, at the written request (including a request through electronic means) of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing (i)
no outstanding Borrowing may be converted to or continued as a Eurocurrency Borrowing and (ii) unless repaid, each Eurocurrency Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto. 

SECTION 2.08. Termination and Reduction of Commitments. 

(a) Unless previously terminated, the Revolving Facility Commitments shall terminate on the Revolving Facility Maturity Date. 

(b) The Borrower may at any time terminate, or from time to time reduce, the Revolving Facility Commitments; provided, that (i)
each reduction of the Revolving Facility Commitments shall be in an amount that is an integral multiple of $1.0 million and not less than $5.0 million (or, if less, the remaining amount of the Revolving Facility Commitments) and (ii) the Borrower
shall not terminate or reduce the Revolving Facility Commitments if, after giving effect to any concurrent prepayment of the Revolving Facility Loans in accordance with Section 2.11, the Revolving Facility Credit Exposure would exceed the total
Revolving Facility Commitments. 
 (c) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the
Revolving Facility Commitments under paragraph (b) of this Section at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of
any notice, the Administrative Agent shall advise the applicable Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided, that a notice of termination of the
Revolving Facility Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on
or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Commitments shall be permanent. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with
their respective Commitments. 
 SECTION 2.09. Repayment of Loans; Evidence of Debt. 

(a) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Revolving Facility Lender the
then unpaid principal amount of each Revolving Facility Loan to the Borrower on the Revolving Facility Maturity Date with respect to the Revolving Facility Loans of such Lender. 

  
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 (b) Each Lender shall maintain in accordance with its usual practice an account or accounts
evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. 

(c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Facility
and Type thereof and the Interest Period (if any) applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) any amount received by the
Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof. ABL Rebalancing Borrowings, ABL Revolving L/C Rebalancings, Existing Revolver Rebalancing Borrowings, and Existing Revolver L/C Rebalancings may be
effected by the Administrative Agent by recording in the accounts without the necessity of any funding (or any action in respect of a Letter of Credit) by such Lender to the extent that such Lender, by virtue of its holdings or participations in the
Existing Revolving Credit Agreement and this Agreement, would result in such Lender receiving an equal amount of the proceeds of such Loan as such Lender would have otherwise funded or an equal participation in such Letter of Credit. 

(d) The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this Section shall be prima facie evidence of the
existence and amounts of the obligations recorded therein; provided, that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to
repay the Loans in accordance with the terms of this Agreement. 
 (e) Any Lender may request that Loans made by it be evidenced by a
promissory note (a “Note”). In such event, the Borrower shall prepare, execute and deliver to such Lender a promissory note payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered
assigns) and in a form approved by the Administrative Agent and reasonably acceptable to the Borrower. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section
9.04) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). 

SECTION 2.10. Repayment of Revolving Facility Loans. 

(a) [Reserved]. 

(b) To the extent not previously paid, outstanding Revolving Facility Loans shall be due and payable on the Revolving Facility Maturity
Date. 
 (c) [Reserved]. 

  
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 (d) Prior to any repayment of any Revolving Facility Loans, the Borrower shall select the
Borrowing or Borrowings under the Revolving Facility to be repaid and shall notify the Administrative Agent by telephone (confirmed by telecopy) of such selection not later than 1:00 p.m., Local Time, (i) in the case of an ABR Borrowing, one
Business Day before the scheduled date of such repayment and (ii) in the case of a Eurocurrency Borrowing, three Business Days before the scheduled date of such repayment. Each repayment of a Borrowing in the case of the Revolving Facility
shall be applied to the Revolving Facility Loans included in the repaid Borrowing such that each Revolving Facility Lender receives its ratable share of such repayment (based upon the respective Revolving Facility Credit Exposures of the Revolving
Facility Lenders at the time of such repayment). Repayments of Eurocurrency Borrowings shall be accompanied by accrued interest on the amount repaid. 

SECTION 2.11. Prepayment of Loans. 

(a) The Borrower shall have the right at any time and from time to time to prepay any Loan in whole or in part, without premium or
penalty (but subject to Section 2.16), in an aggregate principal amount that is an integral multiple of the Borrowing Multiple and not less than the Borrowing Minimum or, if less, the amount outstanding, subject to prior notice in accordance with
Section 2.10(d), which notice shall be irrevocable except to the extent conditioned on a refinancing of all or any portion of the Facilities; provided that no prepayment of Revolving Facility Loans shall be permitted unless the outstanding
amount of Letters of Credit and Revolving Facility Loans is zero. 
 (b) To the extent that the ABL Available Credit exceeds the
current ABL Credit Exposure as of the last Business Day of any calendar month, the Borrower shall promptly borrow under the ABL Facility and use the net proceeds of such borrowing to pay down the principal amount of Revolving Facility Loans under
this Agreement (net of LIBOR breakage costs and other transaction costs). 
 (c) If at any time the sum of the Revolving Facility
Credit Exposure and the outstanding principal balance and any letter of credit exposure under the ABL Facility exceeds an aggregate amount of $75,000,000 at any time, the Borrower shall (i) first, immediately prepay Revolving Facility Borrowings to
the extent of such excess, and (ii) second, immediately thereafter prepay ABL Facility Borrowings to eliminate any remaining excess. 

(d) In the event and on such occasion that the total Revolving Facility Credit Exposure exceeds the total Revolving Facility Commitments,
the Borrower shall prepay Revolving Facility Borrowings. In the event and on such occasion that the total Revolving Facility Credit Exposure exceeds the total Revolving Facility Commitments, the Borrower shall prepay Revolving Facility Borrowings
(or, if no such Borrowings are outstanding, deposit cash collateral in an account with the Administrative Agent pursuant to Section 2.05(j)) in an aggregate amount equal to such excess. 

(e) In the event and on such occasion as the Revolving L/C Exposure exceeds the Letter of Credit Sublimit, the Borrower shall deposit
cash collateral in an account with the Administrative Agent pursuant to Section 2.05(j) in an amount equal to such excess. 

  
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 (f) [Reserved]. 

(g) If as a result of changes in currency exchange rates, on any Revaluation Date, (i) the total Revolving Facility Credit Exposure
exceeds the total Revolving Facility Commitments, (ii) the Revolving L/C Exposure exceeds the Letter of Credit Sublimit or (iii) the Revolving L/C Exposure with respect to all Alternate Currency Letters of Credit exceeds $30 million, the Borrower
shall within 5 days of such Revaluation Date (A) prepay Revolving Facility Borrowings or (B) deposit cash collateral in an account with the Administrative Agent pursuant to Section 2.05(j), in an aggregate amount such that the applicable exposure
does not exceed the applicable commitment, sublimit or amount set forth above. 
 SECTION 2.12. Fees. 

(a) The Borrower agrees to pay to each Lender (other than any Defaulting Lender), through the Administrative Agent, on the last Business
Day of each March, June, September and December and on the date on which the Revolving Facility Commitments of all the Lenders shall be terminated as provided herein and thereafter on demand, a facility fee (a “Facility Fee”) on the
daily amount of the difference between (x) $75,000,000 minus (y) the aggregate of the Revolving Facility Credit Exposure and the outstanding principal balance of loans and outstanding letter of credit exposure under the ABL Facility for the
preceding quarter (or other period commencing with the Closing Date or ending with the date on which the last of the Commitments of such Lender shall be terminated and such Lender’s Revolving Facility Credit Exposure has been reduced to zero)
at a rate equal to the Applicable Facility Fee. All Facility Fees shall be computed on the basis of the actual number of days elapsed in a year of 360 days. The Facility Fee due to each Lender shall commence to accrue on the Closing Date and shall
cease to accrue on the date on which the last of the Commitments of such Lender shall be terminated as provided herein. 
 (b) The
Borrower from time to time agrees to pay (i) to each Revolving Facility Lender (other than any Defaulting Lender), through the Administrative Agent, on the last Business Day of each March, June, September and December and on the date on which the
Revolving Facility Commitments of all the Lenders shall be terminated as provided herein, a fee (an “L/C Participation Fee”) on such Lender’s Revolving Facility Percentage of the daily aggregate Revolving L/C Exposure
(excluding the portion thereof attributable to unreimbursed L/C Disbursements), during the preceding quarter (or shorter period commencing with the Closing Date or ending with the Revolving Facility Maturity Date or the date on which the Revolving
Facility Commitments shall be terminated) at the rate per annum equal to the Applicable Margin for Eurocurrency Borrowings effective for each day in such period, it being agreed that, notwithstanding anything to the contrary in Section 1.04, in
calculating the Dollar Equivalent amount of Alternate Currency Letters of Credit, the Administrative Agent may elect to employ the Spot Rate determined on the date such L/C Participation Fees are determined retroactively to each day for which such
L/C Participation Fee is calculated and (ii) to each Issuing Bank, for its own account (x) on the last Business Day of each March, June, September and December and the date on which the Revolving Facility Commitments of all the Lenders shall be
terminated as provided herein, a fronting fee in respect of each Letter of Credit issued by such Issuing Bank for the period from and including the date of issuance of such Letter of Credit to and including the termination of such Letter of Credit,
computed at a rate equal to 1/4 of 1% 

  
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per annum of the daily stated amount of such Letter of Credit), plus (y) in connection with the issuance, amendment or transfer of any such Letter of Credit or any L/C Disbursement thereunder,
such Issuing Bank’s customary documentary and processing fees and charges (collectively, “Issuing Bank Fees”). All L/C Participation Fees and Issuing Bank Fees that are payable in Dollars on a per annum basis shall be computed
on the basis of the actual number of days elapsed in a year of 360 days. 
 (c) The Borrower agrees to pay to the Administrative Agent,
for the account of the Administrative Agent, the agency fees set forth in the Fee Letter, as amended, restated, supplemented or otherwise modified from time to time, at the times specified therein (the “Administrative Agent Fees”).

 (d) All Fees shall be paid on the dates due, in immediately available funds, to the Administrative Agent for distribution, if and as
appropriate, among the Lenders, except that Issuing Bank Fees shall be paid directly to the applicable Issuing Banks. Once paid, none of the Fees shall be refundable under any circumstances. 

SECTION 2.13. Interest. 

(a) The Loans comprising each ABR Borrowing shall bear interest at the ABR plus the Applicable Margin. 

(b) The Loans comprising each Eurocurrency Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for
such Borrowing plus the Applicable Margin. 
 (c) Automatically and for so long as any Event of Default shall have occurred and be
continuing under Section 7.01(b), (c), (h) or (i), or at the election upon notice of the Administrative Agent or Required Lenders for so long as any other Event of Default shall have occurred and be continuing, (i) any Loan shall bear interest
at a rate per annum equal to 2% plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section or (ii) in the case of any other amount (including, but not limited to, fees to be paid under the Loan
Documents), such amount shall bear interest at a rate per annum equal to 2% plus the rate applicable to Loans as provided in paragraph (a) of this Section. 

(d) Accrued interest on each Loan shall be payable in arrears (i) on each Interest Payment Date for such Loan and (ii) in the case of
Revolving Facility Loans, upon termination of the Revolving Facility Commitments; provided, that (x) interest accrued pursuant to paragraph (c) of this Section shall be payable on demand, (y) in the event of any repayment or prepayment of any
Loan (other than a prepayment of an ABR Revolving Loan prior to the end of the Availability Period), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (z) in the event of any
conversion of any Eurocurrency Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion. 

(e) All interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to the ABR
shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual 

  
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number of days elapsed (including the first day but excluding the last day). The applicable ABR, Adjusted LIBO Rate or LIBO Rate shall be determined by the Administrative Agent, and such
determination shall be conclusive absent manifest error. 
 SECTION 2.14. Alternate Rate of Interest. If prior to the
commencement of any Interest Period for a Eurocurrency Borrowing: 
 (a) the Administrative Agent determines (which
determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period; or 

(b) the Administrative Agent is advised by the Required Lenders under the Revolving Facility that the Adjusted LIBO Rate
or the LIBO Rate, as applicable, for such Interest Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining their Loans included in such Borrowing for such Interest Period; 

then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone or telecopy as promptly as practicable
thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests the conversion of any Borrowing to, or
continuation of any Borrowing as, a Eurocurrency Borrowing denominated in such currency shall be ineffective and such Borrowing shall be converted to or continued as on the last day of the Interest Period applicable thereto an ABR Borrowing, and
(ii) if any Borrowing Request requests a Eurocurrency Borrowing, such Borrowing shall be made as an ABR Borrowing. 
 SECTION
2.15. Increased Costs. 
 (a) If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit or similar requirement against assets of, deposits with
or for the account of, or credit extended by, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate) or Issuing Bank; 

(ii) subject any Lender or Issuing Bank to any additional Taxes (other than (A) Indemnified Taxes and Other Taxes
indemnified under Section 2.17 and (B) Excluded Taxes); or 
 (iii) impose on any Lender or Issuing Bank or the London
interbank market any other condition affecting this Agreement or Eurocurrency Loans made by such Lender or any Letter of Credit or participation therein; 

and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any Eurocurrency Loan (or of maintaining its
obligation to make any such Loan) or to increase the cost to such Lender or Issuing Bank of participating in, issuing or maintaining any Letter of Credit or to reduce the amount of any sum received or receivable by such Lender or


  
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Issuing Bank hereunder (whether of principal, interest or otherwise), then the Borrower will pay to such Lender or Issuing Bank, as applicable, such additional amount or amounts as will
compensate such Lender or Issuing Bank, as applicable, for such additional costs incurred or reduction suffered. 
 (b) If any Lender
or Issuing Bank determines that any Change in Law affecting such Lender or Issuing Bank or any lending office of such Lender or such Lender’s or Issuing Bank’s holding company, if any, regarding capital and liquidity requirements has or
would have the effect of reducing the rate of return on such Lender’s or Issuing Bank’s capital or on the capital of such Lender’s or Issuing Bank’s holding company, if any, as a consequence of this Agreement or the Loans made
by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by such Issuing Bank, to a level below that which such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s holding company
could have achieved but for such Change in Law (taking into consideration such Lender’s or such Issuing Bank’s policies and the policies of such Lender’s or such Issuing Bank’s holding company with respect to capital adequacy and
liquidity), then from time to time the Borrower shall pay to such Lender or such Issuing Bank, as applicable, such additional amount or amounts as will compensate such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s
holding company for any such reduction suffered. 
 (c) A certificate of a Lender or an Issuing Bank setting forth the amount or
amounts necessary to compensate such Lender or Issuing Bank or its holding company, as applicable, as specified in paragraph (a) or (b) of this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The
Borrower shall pay such Lender or Issuing Bank, as applicable, the amount shown as due on any such certificate within 10 days after receipt thereof. 

(d) Promptly after any Lender or any Issuing Bank has determined that it will make a request for increased compensation pursuant to this
Section 2.15, such Lender or Issuing Bank shall notify the Borrower thereof. Failure or delay on the part of any Lender or Issuing Bank to demand compensation pursuant to this Section shall not constitute a waiver of such Lender’s or Issuing
Bank’s right to demand such compensation; provided, that the Borrower shall not be required to compensate a Lender or an Issuing Bank pursuant to this Section for any increased costs or reductions incurred more than 180 days prior to the
date that such Lender or Issuing Bank, as applicable, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s or Issuing Bank’s intention to claim compensation therefor;
provided, further, that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 180 day period referred to above shall be extended to include the period of retroactive effect thereof. 

SECTION 2.16. Break Funding Payments. In the event of (a) the payment of any principal of any Eurocurrency Loan other than on
the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurocurrency Loan other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow,
convert, continue or prepay any Eurocurrency Loan on the date specified in any notice delivered pursuant hereto or (d) the assignment of any Eurocurrency Loan other than on the last day of the Interest Period applicable thereto as a result of a
request by the Borrower 

  
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pursuant to Section 2.19, then, in any such event, the Borrower shall compensate each Lender for the loss, cost and expense attributable to such event. In the case of a Eurocurrency Loan,
such loss, cost or expense to any Lender shall be deemed to be the amount determined by such Lender (it being understood that the deemed amount shall not exceed the actual amount) to be the excess, if any, of (i) the amount of interest which would
have accrued on the principal amount of such Loan had such event not occurred, at the Adjusted LIBO Rate that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest Period
therefor (or, in the case of a failure to borrow, convert or continue a Eurocurrency Loan, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue on such principal amount for such
period at the interest rate which such Lender would bid were it to bid, at the commencement of such period, for deposits in dollars of a comparable amount and period from other banks in the Eurocurrency market. A certificate of any Lender
setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on
any such certificate within 10 days after receipt thereof. 
 SECTION 2.17. Taxes. 

(a) Any and all payments by or on account of any obligation of any Loan Party under any Loan Document shall be made free and clear of and
without deduction for any Taxes, except where required by applicable law. If any applicable withholding agent shall be required by applicable law to deduct any Taxes from such payments, then (i) to the extent the deduction is an account of
Indemnified Taxes or Other Taxes, the sum payable by the applicable Loan Party shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 2.17) the
Administrative Agent, any Lender or any Issuing Bank, as applicable, receives an amount equal to the sum it would have received had no such deductions been made, (ii) the applicable withholding agent shall make such deductions and (iii) the
applicable withholding agent shall timely pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law. 

(b) In addition, the Loan Parties shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable
law. 
 (c) Each Loan Party shall indemnify the Administrative Agent, each Lender and each Issuing Bank, within 10 days after written
demand therefor, for the full amount of any Indemnified Taxes payable by the Administrative Agent, such Lender or such Issuing Bank, as applicable, on or with respect to any payment by or on account of any obligation of such Loan Party under any
Loan Document and any Other Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section 2.17) and any reasonable expenses arising therefrom or with respect thereto, whether or not
such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to such Loan Party by a Lender or an Issuing Bank,
or by the Administrative Agent on its own behalf, on behalf of another Agent or on behalf of a Lender or an Issuing Bank, shall be conclusive absent manifest error. 

  
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 (d) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by a Loan
Party to a Governmental Authority, such Loan Party shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or
other evidence of such payment reasonably satisfactory to the Administrative Agent. 
 (e) Any Lender that is entitled to an exemption
from or reduction of withholding Tax or backup withholding Tax with respect to payments under any Loan Document shall deliver to the Borrower (with a copy to the Administrative Agent), to the extent such Lender is legally eligible to do so, at the
time or times prescribed by applicable law, such properly completed and executed documentation prescribed by applicable law, or as may reasonably be requested by the Borrower or the Administrative Agent to permit such payments to be made without
such withholding tax or at a reduced rate. In addition, each Lender shall deliver such forms, if legally eligible to deliver such forms, promptly upon the obsolescence, expiration or invalidity of any form previously delivered by such Foreign
Lender. Each Foreign Lender shall promptly notify the Borrower and the Administrative Agent at any time it determines that it is no longer in a position to provide any previously delivered certificate (or any other form of certification adopted
by the United States of America or other taxing authorities for such purpose). 
 (f) Without limiting the generality of Section
2.17(e) above: 
 (A) Each Foreign Lender shall deliver to the Borrower and the Administrative Agent on or before the
date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent or as otherwise required by applicable law), two executed originals, of
whichever of the following is applicable: (i) duly completed Internal Revenue Service Form W-8BEN or W-8BENE, as applicable (or any subsequent versions thereof or successors thereto), claiming eligibility for benefits of an income tax treaty to
which the United States of America is a party, (ii) duly completed Internal Revenue Service Form W-8ECI (or any subsequent versions thereof or successors thereto), (iii) in the case of a Foreign Lender claiming the benefits of the exemption for
portfolio interest under section 871(h) or 881(c) of the Code, (x) a certificate substantially in the form of Exhibit F to the effect that such Foreign Lender is not (A) a “bank” within the meaning of section 881(c)(3)(A) of the
Code, (B) a “10 percent shareholder” of the Borrower within the meaning of section 871(h)(3) or 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in section 881(c)(3)(C) of the Code (a “U.S.
Tax Compliance Certificate”) and (y) duly completed copies of Internal Revenue Service Form W-8BEN or W-8BENE, as applicable (or any subsequent versions thereof or successors thereto), (iv) to the extent a Foreign Lender is not the
beneficial owner, duly completed Internal Revenue Service Form W-8IMY, together with forms and certificates described in clauses (i) through (iii) above (and additional Form W-8IMYs) as may be required, provided that if the Foreign Lender is
a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the benefits of the exemption for portfolio interest, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of
Exhibit F on behalf of each such direct and indirect partner, or (v) any other form prescribed by applicable law as a basis for claiming exemption 

  
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from or a reduction in United States federal withholding tax duly completed together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower to
determine the withholding or deduction required to be made. 
 (B) If a payment made to a Lender under any Loan Document
would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such
Lender shall deliver to the Borrower and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable law
(including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with
their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this Section 2.17(f),
“FATCA” shall include any amendments made to FATCA after the date of this Agreement. 
 (C) Each Lender that
is not a Foreign Lender shall deliver to the Borrower and the Administrative Agent two executed originals of Internal Revenue Service Form W 9 (or any subsequent versions thereof or successors thereto) on or before the date such Lender becomes a
party and upon the expiration of any form previously delivered by such Lender. 
 (D) Notwithstanding any other
provision of this Section 2.17, a Lender shall not be required to deliver any form pursuant to this paragraph that such Lender is not legally eligible to deliver. 

(g) If the Administrative Agent, Issuing Bank, or Lender has received a refund (in cash or as an offset against other Taxes payable) of
any Indemnified Taxes or Other Taxes as to which it has been indemnified by a Loan Party or with respect to which such Loan Party has paid additional amounts pursuant to this Section 2.17, it shall pay over such refund to such Loan Party (but only
to the extent of indemnity payments made, or additional amounts paid, by such Loan Party under this Section 2.17 with respect to the Indemnified Taxes or Other Taxes giving rise to such refund), net of all out of pocket expenses of the
Administrative Agent, such Issuing Bank or such Lender (including any Taxes imposed with respect to such refund) as is determined by the Administrative Agent, such Issuing Bank or Lender in good faith and in its sole discretion, and without interest
(other than any interest paid by the relevant Governmental Authority with respect to such refund); provided, that such Loan Party, upon the request of the Administrative Agent, such Issuing Bank or Lender, agrees to repay as soon as
reasonably practicable the amount paid over to such Loan Party (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Administrative Agent, such Issuing Bank or such Lender in the event the
Administrative Agent, such Issuing Bank or such Lender is required to repay such refund to such Governmental Authority. This Section 2.17 shall not be construed to require the Administrative Agent, any Issuing Bank or any Lender to make
available its Tax returns (or any other information relating to its Taxes which it deems in good faith to be confidential) to the Loan Parties or any other person. 

  
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 SECTION 2.18. Payments Generally; Pro Rata Treatment; Sharing of Setoffs. 

(a) Unless otherwise specified, the Borrower shall make each payment required to be made by it hereunder (whether of principal, interest,
fees or reimbursement of L/C Disbursements, or of amounts payable under Section 2.15, 2.16, or 2.17, or otherwise) prior to 2:00 p.m., Local Time, on the date when due, in immediately available funds, without condition or deduction for any defense,
recoupment, set off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest
thereon. All such payments shall be made to the Administrative Agent to the applicable account designated to the Borrower by the Administrative Agent, except payments to be made directly to the applicable Issuing Bank as expressly provided
herein and except that payments pursuant to Sections 2.15, 2.16, 2.17 and 9.05 shall be made directly to the persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for the account of any other
person to the appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, then unless otherwise provided with respect to such payment, the date for payment shall be
extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments under the Loan Documents shall be made in Dollars. Any
payment required to be made by the Administrative Agent hereunder shall be deemed to have been made by the time required if the Administrative Agent shall, at or before such time, have taken the necessary steps to make such payment in accordance
with the regulations or operating procedures of the clearing or settlement system used by the Administrative Agent to make such payment. 

(b) If at any time insufficient funds are received by and available to the Administrative Agent from the Borrower to pay fully all
amounts of principal, unreimbursed L/C Disbursements, interest and fees then due from the Borrower hereunder, such funds shall be applied pursuant to Section 5.02 of the Collateral Agreement. 

(c) If any Lender shall, by exercising any right of set off or counterclaim or otherwise, obtain payment in respect of any principal of
or interest on any of its Revolving Facility Loans or (in the case of a Revolving Facility Lender) participations in L/C Disbursements resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Revolving
Facility Loans and (in the case of a Revolving Facility Lender) participations in L/C Disbursements and accrued interest thereon than the proportion received by any other Lender, then the Lender receiving such greater proportion shall purchase (for
cash at face value) participations in Revolving Facility Loans and (in the case of a Revolving Facility Lender) participations in L/C Disbursements of other Lenders to the extent necessary so that the benefit of all such payments shall be shared by
the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Revolving Facility Loans and participations in (in the case of a Revolving Facility Lender) L/C Disbursements; provided, that
(i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price 

  
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restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph (c) shall not be construed to apply to any payment made by the Borrower pursuant to and in
accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or participations in (in the case of a Revolving Facility Lender) L/C
Disbursements to any assignee or participant, other than to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph (c) shall apply). The Borrower consents to the foregoing and agrees, to the extent it
may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of set off and counterclaim with respect to such participation as fully as if such
Lender were a direct creditor of the Borrower in the amount of such participation. 
 (d) Unless the Administrative Agent shall have
received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the applicable Issuing Bank hereunder that the Borrower will not make such payment, the Administrative
Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the applicable Issuing Bank, as applicable, the amount due. In such event, if
the Borrower has not in fact made such payment, then each of the Lenders or the applicable Issuing Bank, as applicable, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or Issuing
Bank with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate and a rate determined by the
Administrative Agent in accordance with banking industry rules on interbank compensation. 
 (e) If any Lender shall fail to make any
payment required to be made by it pursuant to Section 2.06(b) or 2.18(d), or, in the case of any Revolving Facility Lender, Section 2.05(d) or (e), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof),
apply any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid. 

SECTION 2.19. Mitigation Obligations; Replacement of Lenders. 

(a) If any Lender requests compensation under Section 2.15, or if the Borrower is required to pay any additional amount to any Lender or
any Governmental Authority for the account of any Lender with respect to Indemnified Taxes pursuant to Section 2.17, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or
to assign its rights and obligations hereunder to another of its offices, branches or Affiliates, if, in the reasonable judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.15 or
2.17, as applicable, in the future and (ii) would not subject such Lender to any material unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender in any material respect. The Borrower hereby agrees to pay all
reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 

  
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 (b) If any Lender requests compensation under Section 2.15, or if the Borrower is required
to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender with respect to Indemnified Taxes pursuant to Section 2.17, or is a Defaulting Lender, then the Borrower may, at its sole expense and effort, upon
notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 9.04), all its interests, rights and obligations under this
Agreement and the ABL Credit Agreement to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided, that (i) the Borrower shall have received the prior written
consent of the Administrative Agent (and, if in respect of any Revolving Facility Commitment or Revolving Facility Loan and the Issuing Bank), which consent shall not unreasonably be withheld, (ii) such Lender shall have received payment of an
amount equal to the outstanding principal of its Loans and participations in L/C Disbursements, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and
accrued interest and fees) or the Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.15 or payments required to be made with respect to Indemnified Taxes
pursuant to Section 2.17, such assignment will result in a reduction in such compensation or payments. Nothing in this Section 2.19 shall be deemed to prejudice any rights that the Borrower may have against any Lender that is a Defaulting
Lender. 
 (c) If any Lender (such Lender, a “Non Consenting Lender”) has failed to consent to a proposed amendment,
waiver, discharge or termination which pursuant to the terms of Section 9.08 requires the consent of all of the Lenders affected and with respect to which the Required Lenders shall have granted their consent, then the Borrower shall have the right
(unless such Non Consenting Lender grants such consent) at its sole expense (including with respect to the processing and recordation fee referred to in Section 9.04(b)(ii)(B)) to replace such Non Consenting Lender by deeming such Non Consenting
Lender to have assigned its Loans, and its Commitments hereunder and under the ABL Credit Agreement to one or more assignees reasonably acceptable to the Administrative Agent and the Issuing Bank; provided, that: (a) all Obligations of
the Borrower owing to such Non Consenting Lender being replaced shall be paid in full to such Non Consenting Lender concurrently with such assignment and (b) the replacement Lender shall purchase the foregoing by paying to such Non Consenting Lender
a price equal to the principal amount thereof plus accrued and unpaid interest thereon. No action by or consent of the Non-Consenting Lender shall be necessary in connection with such assignment, which
shall be immediately and automatically effective upon payment of such purchase price. In connection with any such assignment the Borrower, Administrative Agent, such Non Consenting Lender and the replacement Lender shall otherwise comply with
Section 9.04; provided, that if such Non-Consenting Lender does not comply with Section 9.04 within three Business Days after Borrower’s request, compliance with Section 9.04 shall not be required
to effect such assignment. 
 SECTION 2.20. Illegality. If any Lender reasonably determines that any change in law has made
it unlawful, or that any Governmental Authority has asserted after the Closing Date that it is unlawful, for any Lender or its applicable lending office to make or maintain any Eurocurrency Loans, then, on notice thereof by such Lender to the
Borrower through the Administrative Agent, any obligations of such Lender to make or continue 

  
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Eurocurrency Loans or to convert ABR Borrowings to Eurocurrency Borrowings shall be suspended until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving
rise to such determination no longer exist. Upon receipt of such notice, the Borrower shall upon demand from such Lender (with a copy to the Administrative Agent), either convert all Eurocurrency Borrowings of such Lender to ABR Borrowings
without reference to clause (c) of the ABR definition, either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurocurrency Borrowings to such day, or immediately, if such Lender may not lawfully
continue to maintain such Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted. 

SECTION 2.21. [Reserved]. 

SECTION 2.22. Defaulting Lender. 

(a) Defaulting Lender Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender
becomes a Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable law: 

(i) Waivers and Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or
consent with respect to this Agreement shall be restricted as set forth in the definition of Required Lenders. 

(ii) Defaulting Lender Waterfall. Any payment of principal, interest, fees or other amounts received by the
Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, following an Event of Default or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to Section 9.06 shall
be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder, second, to the payment on a
pro rata basis of any amounts owing by such Defaulting Lender to any Issuing Bank hereunder, third, to cash collateralize the Issuing Banks’ Fronting Exposure with respect to such Defaulting Lender in a manner consistent with Section
2.05(j) except that such cash collateral shall only be held in respect of the Fronting Exposure with respect to such Defaulting Lender, fourth, as the Borrower may request (so long as no Default or Event of Default exists), to the funding of
any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent, fifth, if so determined by the Administrative Agent and the Borrower, to be
held in a deposit account and released pro rata in order to (x) satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement and (y) cash collateralize the Issuing Banks’ future Fronting
Exposure with respect to such Defaulting Lender with respect to future Letters of Credit issued under this Agreement, in a manner consistent with Section 2.05(j) except that such cash collateral shall only be held in respect of the Fronting Exposure
with respect to such Defaulting Lender, sixth, to the payment of any amounts owing to the Lenders or the Issuing Banks as a result of any judgment of a court of competent jurisdiction obtained by any Lender or the Issuing Banks against such
Defaulting Lender as a result of such 

  
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Defaulting Lender’s breach of its obligations under this Agreement, seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a
result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement, and eighth, to such Defaulting
Lender or as otherwise directed by a court of competent jurisdiction. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post cash
collateral pursuant to this Section 2.22 shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto. 

(iii) Certain Fees. (A) No Defaulting Lender shall be entitled to receive any Facility Fee on the unutilized
portion of its Revolving Facility Commitment for any period during which that Lender is a Defaulting Lender. 
 (B) Each Defaulting
Lender shall be entitled to receive L/C Participation Fees for any period during which that Lender is a Defaulting Lender only to the extent allocable to its pro rata share of the stated amount of Letters of Credit for which it has provided cash
collateral. 
 (C) With respect to any Facility Fee or L/C Participation Fee not required to be paid to any Defaulting Lender pursuant
to clause (A) or (B) above, the Borrower shall (x) pay to each Lender that is not a Defaulting Lender (a “Non-Defaulting Lender”) that portion of any such fee otherwise payable to such Defaulting Lender with respect to such
Defaulting Lender’s participation in Letters of Credit that has been reallocated to such Non-Defaulting Lender pursuant to clause (iv) below, (y) pay to each Issuing Bank the amount of any such fee
otherwise payable to such Defaulting Lender to the extent allocable to such Issuing Bank’s Fronting Exposure to such Defaulting Lender, and (z) not be required to pay the remaining amount of any such fee. 

(iv) Reallocation of Participations to Reduce Fronting Exposure. All or any part of such Defaulting Lender’s
participation in Letters of Credit shall be reallocated among the Non-Defaulting Lenders in accordance with their respective pro rata Commitments (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that (x)
the conditions set forth in Section 4.01 are satisfied at the time of such reallocation (and, unless the Borrower shall have otherwise notified the Administrative Agent at such time, the Borrower shall be deemed to have represented and warranted
that such conditions are satisfied at such time) and (y) such reallocation does not cause the aggregate Revolving Facility Credit Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting
Lender’s Revolving Facility Commitment. No reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any
claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following such reallocation. 

(v) Cash Collateral. If the reallocation described in clause (iv) above cannot, or can only partially, be effected,
the Borrower shall, without prejudice to any right or remedy available to it hereunder or under law cash collateralize the Issuing Banks’ Fronting Exposure in a manner consistent with the procedures set forth in Section 2.05(j) except that such
cash collateral shall only be held in respect of such Fronting Exposure. 

  
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 (b) Defaulting Lender Cure. If the Borrower, the Administrative Agent and each
Issuing Bank agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein
(which may include arrangements with respect to any cash collateral), that Lender will, to the extent applicable, purchase at par that portion of outstanding Revolving Facility Loans of the other Lenders or take such other actions as the
Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit to be held pro rata by the Lenders in accordance with their Revolving Facility Commitments (without giving effect to
Section 2.22(a)(iv)), whereupon such Lender will cease to be a Defaulting Lender; provided that, no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a
Defaulting Lender; provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party
hereunder arising from that Lender’s having been a Defaulting Lender. 
 (c) New Letters of Credit. So long as any
Lender is a Defaulting Lender, the Issuing Banks shall not be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure with respect to such Defaulting Lender after giving effect
thereto. 
 ARTICLE III 

Representations and Warranties 

On the date of each Credit Event as provided in Section 4.01, the Borrower represents and warrants to each of the Lenders that (as of the date
of such Credit Event, which shall, in the case of a Credit Event on the Closing Date be deemed to be after the effectiveness of the Exchange Transactions): 

SECTION 3.01. Organization; Powers. Except as set forth on Schedule 3.01, each of Holdings (prior to
a Borrower Qualified IPO), the Borrower and each of the Material Subsidiaries (a) is a partnership, limited liability company or corporation duly organized, validly existing and in good standing (or in any foreign jurisdiction where an equivalent
status exists, enjoys the equivalent status under the laws of such foreign jurisdiction of organization outside of the United States) under the laws of the jurisdiction of its organization, (b) has all requisite power and authority to own its
property and assets and to carry on its business as now conducted, (c) is qualified to do business in each jurisdiction where such qualification is required, except where the failure so to qualify would not reasonably be expected to have a Material
Adverse Effect, and (d) has the power and authority to execute, deliver and perform its obligations under each of the Loan Documents and each other agreement or instrument contemplated thereby to which it is or will be a party and, in the case of
the Borrower, to borrow and otherwise obtain credit hereunder. 

  
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 SECTION 3.02. Authorization. The execution, delivery and performance by Holdings
(prior to a Borrower Qualified IPO), the Borrower and each of the Subsidiary Loan Parties of each of the Loan Documents to which it is a party, and the borrowings hereunder (a) have been duly authorized by all corporate, stockholder, partnership or
limited liability company action required to be obtained by Holdings, the Borrower and such Subsidiary Loan Parties and (b) will not (i) violate (A) any provision of law, statute, rule or regulation, or of the certificate or articles of
incorporation or other constitutive documents (including any partnership, limited liability company or operating agreements) or by laws of Holdings, the Borrower or any such Subsidiary Loan Party, (B) any applicable order of any court or any rule,
regulation or order of any Governmental Authority or (C) any provision of any indenture, certificate of designation for preferred stock, agreement or other instrument to which Holdings, the Borrower or any such Subsidiary Loan Party is a party or by
which any of them or any of their property is or may be bound, (ii) be in conflict with, result in a breach of or constitute (alone or with notice or lapse of time or both) a default under, give rise to a right of or result in any cancellation or
acceleration of any right or obligation (including any payment) or to a loss of a material benefit under any such indenture, certificate of designation for preferred stock, agreement or other instrument, where any such conflict, violation, breach or
default referred to in clause (i) or (ii) of this Section 3.02(b), would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, or (iii) result in the creation or imposition of any Lien upon or with respect to
any property or assets now owned or hereafter acquired by Holdings (prior to a Borrower Qualified IPO), the Borrower or any such Subsidiary Loan Party, other than the Liens created by the Loan Documents and Permitted Liens. 

SECTION 3.03. Enforceability. This Agreement has been duly executed and delivered by Holdings and the Borrower and constitutes,
and each other Loan Document when executed and delivered by each Loan Party that is party thereto will constitute, a legal, valid and binding obligation of such Loan Party enforceable against each such Loan Party in accordance with its terms,
subject to (i) the effects of bankruptcy, insolvency, moratorium, reorganization, fraudulent conveyance or other similar laws affecting creditors’ rights generally, (ii) general principles of equity (regardless of whether such enforceability is
considered in a proceeding in equity or at law), (iii) implied covenants of good faith and fair dealing and (iv) except to the extent set forth in the applicable Foreign Pledge Agreements, any foreign laws, rules and regulations as they relate to
pledges of Equity Interests in Foreign Subsidiaries. 
 SECTION 3.04. Governmental Approvals. No action, consent or
approval of, registration or filing with or any other action by any Governmental Authority is or will be required in connection with this Agreement, the perfection or maintenance of the Liens created under the Security Documents or the exercise by
the Administrative Agent or any Lender of its rights under the Loan Documents or the remedies in respect of the Collateral, except for (a) the filing of Uniform Commercial Code financing statements, (b) filings with the United States Patent and
Trademark Office and the United States Copyright Office and comparable offices in foreign jurisdictions and equivalent filings in foreign jurisdictions, (c) recordation of the Mortgages, (d) filings and investigation or remediation activities which
may be required under Environmental Laws, (e) such as have been made or obtained and are in full force and effect, (f) such actions, consents and approvals the failure of which to be obtained or made would not reasonably be expected to have a
Material Adverse Effect and (g) filings or other actions listed on Schedule 3.04. 

  
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 SECTION 3.05. Financial Statements. The audited consolidated balance sheet of the
Borrower and its subsidiaries as at January 30, 2016, and the related audited consolidated statements of income and cash flows for such fiscal year, reported on by and accompanied by a report from the Loan Parties’ independent auditors, copies
of which have heretofore been furnished to each Lender, present fairly in all material respects the consolidated financial position of the Borrower as at such date and the consolidated results of operations and cash flows of the Borrower for the
fiscal year then ended. 
 SECTION 3.06. No Material Adverse Effect. Since January 30, 2016, there has been no event or
circumstance that has had or would reasonably be expected to have a Material Adverse Effect. 
 SECTION 3.07. Title to Properties;
Possession Under Leases. 
 (a) Each of Holdings, the Borrower and the Subsidiaries has valid fee simple title to, or valid
leasehold interests in, or easements or other limited property interests in, all its Real Properties (including all Mortgaged Properties) and has valid title to its personal property and assets, in each case, except for Permitted Liens and except
for defects in title that do not materially interfere with its ability to conduct its business as currently conducted or to utilize such properties and assets for their intended purposes and except where the failure to have such title would not
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. All such properties and assets are free and clear of Liens, other than Permitted Liens. 

(b) None of the Borrower or the Subsidiaries has defaulted under any leases to which it is a party, except for such defaults as would not
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. All of the Borrower’s or Subsidiaries’ leases are in full force and effect, except leases in respect of which the failure to be in full force and
effect would not reasonably be expected to have a Material Adverse Effect. Except as set forth on Schedule 3.07(b), the Borrower and each of the Subsidiaries enjoys peaceful and undisturbed possession under all such leases, other than leases
in respect of which the failure to enjoy peaceful and undisturbed possession would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 

(c) Each of the Borrower and the Subsidiaries owns or possesses, or is licensed to use, all patents, trademarks, service marks, trade
names and copyrights, all applications for any of the foregoing and all licenses and rights with respect to the foregoing necessary for the present conduct of its business, without any conflict (of which the Borrower has been notified in writing)
with the rights of others, and free from any burdensome restrictions on the present conduct of the business of the Borrower, except where such conflicts and restrictions would not reasonably be expected to have, individually or in the aggregate, a
Material Adverse Effect or except as set forth on Schedule 3.07(c). 
 (d) As of the Closing Date, none of the Borrower and the
Subsidiaries has received any written notice of any pending or contemplated condemnation proceeding affecting any material portion of the Mortgaged Properties or any sale or disposition thereof in lieu of condemnation that remains unresolved as of
the Closing Date. 

  
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 (e) None of the Borrower and the Subsidiaries is obligated on the Closing Date under any
right of first refusal, option or other contractual right to sell, assign or otherwise dispose of any Mortgaged Property or any interest therein, except as permitted under Section 6.02 or 6.05. 

SECTION 3.08. Subsidiaries. 

(a) Schedule 3.08(a) sets forth as of the Closing Date the name and jurisdiction of incorporation, formation or organization of
each subsidiary of Holdings other than Immaterial Subsidiaries and, as to each such subsidiary, the percentage of each class of Equity Interests owned by Holdings or by any such subsidiary. 

(b) As of the Closing Date, there are no outstanding subscriptions, options, warrants, calls, rights or other agreements or commitments
(other than stock options granted to employees or directors and directors’ qualifying shares) of any nature relating to any Equity Interests of Holdings, the Borrower or any of the Subsidiaries, except rights of employees to purchase Equity
Interests of Holdings or as set forth on Schedule 3.08(b). 
 SECTION 3.09. Litigation; Compliance with Laws. 

(a) There are no actions, suits or proceedings at law or in equity or by or on behalf of any Governmental Authority or in arbitration now
pending, or, to the knowledge of Holdings (prior to a Borrower Qualified IPO) or the Borrower, threatened in writing against or affecting Holdings or the Borrower or any of the Subsidiaries or any business, property or rights of any such person
which would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 
 (b) None of Holdings (prior
to a Borrower Qualified IPO), the Borrower, the Subsidiaries and their respective properties or assets is in violation of (nor will the continued operation of their material properties and assets as currently conducted violate), any law, rule or
regulation (including any zoning, building, ordinance, code or approval, or any building permit, but excluding any Environmental Laws, which are subject to Section 3.16) or any restriction of record or agreement affecting any Mortgaged Property, or
is in default with respect to any judgment, writ, injunction or decree of any Governmental Authority, where such violation or default would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 

SECTION 3.10. Federal Reserve Regulations. 

(a) None of Holdings (prior to a Borrower Qualified IPO), the Borrower and the Subsidiaries is engaged principally, or as one of its
important activities, in the business of extending credit for the purpose of purchasing or carrying Margin Stock. 
 (b) No part of the
proceeds of any Loan will be used, whether directly or indirectly, and whether immediately, incidentally or ultimately, (i) to purchase or carry Margin Stock or to extend credit to others for the purpose of purchasing or carrying Margin Stock or to
refund indebtedness originally incurred for such purpose, or (ii) for any purpose that entails a violation of, or that is inconsistent with, the provisions of the Regulations of the Board, including Regulation U or Regulation X. 

  
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 SECTION 3.11. Investment Company Act. None of Holdings, the Borrower and the
Subsidiaries is an “investment company” as defined in, or subject to regulation under, the Investment Company Act of 1940, as amended. 

SECTION 3.12. Use of Proceeds. The Borrower will use the proceeds of the Revolving Facility Loans, and may request the
issuance of Letters of Credit, for general corporate purposes (including, without limitation, for Permitted Business Acquisitions). 

SECTION 3.13. Tax Returns. Except as set forth on Schedule 3.13: 

(a) Except as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect,
each of Holdings, the Borrower and the Subsidiaries has filed or caused to be filed all federal, state, local and non U.S. Tax returns required to have been filed by it and each such Tax return is true and correct; 

(b) Each of Holdings, the Borrower and the Subsidiaries has timely paid or caused to be timely paid all Taxes shown to be
due and payable by it on the returns referred to in clause (a) and all other Taxes or assessments (or made adequate provision (in accordance with GAAP) for the payment of all Taxes due) with respect to all periods or portions thereof ending on or
before the Closing Date (except Taxes or assessments that are being contested in good faith by appropriate proceedings in accordance with Section 5.03 and for which Holdings, the Borrower or any of the Subsidiaries (as the case may be) has set aside
on its books adequate reserves in accordance with GAAP), except for Taxes, which if not paid or adequately provided for, would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; and 

(c) Other than as would not be, individually or in the aggregate, reasonably expected to have a Material Adverse
Effect: as of the Closing Date, with respect to each of Holdings, the Borrower and the Subsidiaries, there are no claims being asserted in writing with respect to any Taxes. 

SECTION 3.14. No Material Misstatements. All written information (other than estimates and information of a general economic
nature or general industry nature) concerning Holdings, the Borrower, the Subsidiaries, the Exchange Transactions and any other transactions contemplated hereby or otherwise prepared by or on behalf of the foregoing or their representatives and made
available to any Lenders or the Administrative Agent in connection with the Exchange Transactions or the other transactions contemplated hereby, when taken as a whole, was true and correct in all material respects, as of the date such Information
was furnished to the Lenders and as of the Closing Date and did not, taken as a whole, contain any untrue statement of a material fact as of any such date or omit to state a material fact necessary in order to make the statements contained therein,
taken as a whole, not materially misleading in light of the circumstances under which such statements were made. 

  
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 SECTION 3.15. Employee Benefit Plans. 

(a) Except as would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect: (i) each Plan is in
compliance in all material respects with the applicable provisions of ERISA and the Code; (ii) no Reportable Event has occurred during the past five years as to which the Borrower, Holdings, any of their Subsidiaries or any ERISA Affiliate was
required to file a report with the PBGC, other than reports that have been filed; (iii) no Plan has any Unfunded Pension Liability in excess of $15.0 million and the aggregate amount of Unfunded Pension Liabilities for all Plans is not in excess of
$15.0 million; (iv) no ERISA Event has occurred or is reasonably expected to occur; (v) none of Holdings, the Borrower or the Subsidiaries has engaged in a “prohibited transaction” (as defined in Section 406 of ERISA and Code Section 4975)
in connection with any employee pension benefit plan (as defined in Section 3(2) of ERISA) that would subject Holdings, the Borrower or any Subsidiary to tax; and (vi) none of the Borrower, Holdings, the Subsidiaries and the ERISA Affiliates (A) has
received any written notification that any Multiemployer Plan is in reorganization or has been terminated within the meaning of Title IV of ERISA, or has knowledge that any Multiemployer Plan is reasonably expected to be in reorganization or to be
terminated (or, after the effectiveness of Title II of the Pension Act, that it is in endangered or critical status, or is reasonably expected to be in endangered or critical status, within the meaning of Section 305 of ERISA) or (B) has incurred or
is reasonably expected to incur any withdrawal liability to any Multiemployer Plan. 
 (b) Each of Holdings, the Borrower and the
Subsidiaries is in compliance (i) with all applicable provisions of law and all applicable regulations and published interpretations thereunder with respect to any employee pension benefit plan or other employee benefit plan governed by the laws of
a jurisdiction other than the United States and (ii) with the terms of any such plan, except, in each case, for such noncompliance that would not reasonably be expected to have a Material Adverse Effect. 

(c) Except as would not reasonably be expected to result in a Material Adverse Effect, there are no pending, or to the knowledge of the
Borrower, threatened claims (other than claims for benefits in the normal course), sanctions, actions or lawsuits, asserted or instituted against any Plan or any person as fiduciary or sponsor of any Plan that could result in liability to Holdings,
the Borrower, any Subsidiaries or the ERISA Affiliates. 
 (d) Within the last five years, no Plan of Holdings, the Borrower, any
Subsidiaries or the ERISA Affiliates has been terminated, whether or not in a “standard termination” as that term is used in Section 404(b)(1) of ERISA, that would reasonably be expected to result in liability to the Borrower, any
Subsidiaries or the ERISA Affiliates in excess of $15.0 million, nor has any Plan of Holdings, the Borrower, any Subsidiaries or the ERISA Affiliates (determined at any time within the past five years) with Unfunded Pension Liabilities been
transferred outside of the “controlled group” (within the meaning of Section 4001(a)(14) of ERISA) of the Borrower, any Subsidiaries or the ERISA Affiliates that has or would reasonably be expected to result in a Material Adverse Effect.

 SECTION 3.16. Environmental Matters. Except as set forth in Schedule 3.16 and except as to matters that would not
reasonably be expected to have, individually or in the 

  
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aggregate, a Material Adverse Effect: (i) no written notice has been received by the Borrower or any of the Subsidiaries, and there are no judicial, administrative or other actions, suits or
proceedings pending or, to the Borrower’s knowledge, threatened which allege a violation of any Environmental Laws, in each case relating to the Borrower or any of the Subsidiaries, (ii) each of the Borrower and the Subsidiaries has all
environmental permits, licenses and other approvals necessary for its operations to comply with all applicable Environmental Laws and is in compliance with the terms of such permits, licenses and other approvals and with all other applicable
Environmental Laws, (iii) to the Borrower’s knowledge, no Hazardous Material is located at, on or under any property currently owned, operated or leased by the Borrower or any of the Subsidiaries that would reasonably be expected to give rise
to any cost, liability or obligation of the Borrower or any of the Subsidiaries under any Environmental Laws, and no Hazardous Material has been generated, owned, treated, stored, handled or controlled by the Borrower or any of the Subsidiaries and
transported to or Released at any location in a manner that would reasonably be expected to give rise to any cost, liability or obligation of the Borrower or any of the Subsidiaries under any Environmental Laws and (iv) there are no agreements in
which the Borrower or any of the Subsidiaries has expressly assumed or undertaken responsibility for any known or reasonably likely liability or obligation of any other person arising under or relating to Environmental Laws, which in any such case
has not been made available to the Administrative Agent prior to the date hereof. 
 SECTION 3.17. Security Documents. The
Collateral Agreement is effective to create in favor of the Collateral Agent (for the benefit of the Secured Parties) a legal, valid and enforceable security interest in the Collateral described therein and proceeds thereof. In the case of the
Pledged Collateral described in the Collateral Agreement, when certificates or promissory notes, as applicable, representing such Pledged Collateral are delivered to the Collateral Agent (or a designated bailee), and in the case of the other
Collateral described in the Collateral Agreement (other than the Intellectual Property (as defined in the Collateral Agreement)), when financing statements and other filings specified in the Perfection Certificate are filed in the offices specified
in the Perfection Certificate, the Collateral Agent (for the benefit of the Secured Parties) shall have a perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in such Collateral and, subject to Section 9 315
of the New York Uniform Commercial Code, the proceeds thereof, as security for the Obligations to the extent perfection can be obtained by filing Uniform Commercial Code financing statements, in each case prior and superior in right to the Lien of
any other person (except for Permitted Liens). 
 SECTION 3.18. Location of Real Property and Leased Premises. 

(a) Schedule 3.18 correctly identifies, in all material respects, as of the Closing Date all material Real Property owned in fee
by the Borrower or any of its Subsidiaries. As of the Closing Date, Holdings, the Borrower and the Subsidiary Loan Parties own in fee all the Real Property set forth as being owned by them on such Schedule. 

(b) As of the Closing Date, Holdings, the Borrower and the Subsidiary Loan Parties have in all material respects valid leases in all Real
Property being leased by them. 

  
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 SECTION 3.19. [Reserved]. 

SECTION 3.20. Labor Matters. Except as, individually or in the aggregate, would not reasonably be expected to have a Material
Adverse Effect: (a) there are no strikes or other labor disputes pending or threatened against Holdings (prior to a Borrower Qualified IPO), the Borrower or any of the Subsidiaries; (b) the hours worked and payments made to employees of
Holdings (prior to a Borrower Qualified IPO), the Borrower and the Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable law dealing with such matters; and (c) all payments due from Holdings (prior to a
Borrower Qualified IPO), the Borrower or any of the Subsidiaries or for which any claim may be made against Holdings (prior to a Borrower Qualified IPO), the Borrower or any of the Subsidiaries, on account of wages and employee health and welfare
insurance and other benefits have been paid or accrued as a liability on the books of Holdings (prior to a Borrower Qualified IPO), the Borrower or such Subsidiary to the extent required by GAAP. 

SECTION 3.21. Insurance. As of the Closing Date, all material insurance maintained by or on behalf of Holdings, the Borrower
and the Subsidiaries is in full force and effect. 
 SECTION 3.22. No Default. No Default or Event of Default has occurred
and is continuing or would result from the consummation of the transactions contemplated by this Agreement or any other Loan Document. 

SECTION 3.23. Intellectual Property; Licenses, Etc. Except as would not reasonably be expected to have a Material Adverse
Effect and as set forth in Schedule 3.23, (a) the Borrower and each of the Subsidiaries owns, or possesses the right to use, all of the patents, registered trademarks, registered service marks or trade names, registered copyrights or
mask works, domain names, applications and registrations for any of the foregoing (collectively, “Intellectual Property Rights”) that are reasonably necessary for the operation of their respective businesses, without conflict with
the rights of any other person, (b) to the best knowledge of the Borrower, the Borrower and the Subsidiaries are not interfering with, infringing upon, misappropriating or otherwise violating Intellectual Property Rights of any person, and (c) no
claim or litigation regarding any of the foregoing is pending or, to the best knowledge of the Borrower, threatened. 
 SECTION
3.24. Senior Debt. The Obligations constitute “Senior Debt” (or the equivalent thereof) and “Designated Senior Debt” (or the equivalent thereof, if any) under the Senior Subordinated Notes Indenture and under the
documentation governing any other subordinated Indebtedness permitted to be incurred hereunder or any Permitted Refinancing Indebtedness in respect of the Senior Subordinated Notes or any other Indebtedness permitted to be incurred hereunder
constituting subordinated Indebtedness. 
 SECTION 3.25. Anti-Money Laundering and Economic Sanctions Laws. Except as could
not reasonably be expected to have a Material Adverse Effect, no Loan Party nor any of its Subsidiaries or its Affiliates and none of the respective officers, directors or agents of such Loan Party, Subsidiary or Affiliate has violated or is in
violation of any applicable Anti-Money Laundering Laws. No Loan Party nor any of its Subsidiaries or its Affiliates nor 

  
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any director, officer, employee, agent, Affiliate or representative of such Loan Party or Subsidiary (each, a “Specified Person”) is an individual or entity currently the subject
of any sanctions administered or enforced by OFAC, the United Nations Security Council, the European Union, Her Majesty’s Treasury or other relevant sanctions authority (collectively, “Sanctions”), nor is any Loan Party or any
of its Subsidiaries or its Affiliates located, organized or resident in a country or territory that is the subject of Sanctions. 
 No
Specified Person will use any proceeds of the Loans or lend, contribute or otherwise make available such proceeds to any Person for the purpose of financing the activities of or with any Person or in any country or territory that, at the time of
funding, is an Embargoed Person. 
 Except to the extent conducted in accordance with applicable Law, no Loan Party, nor any of its
Subsidiaries and Affiliates and none of the respective officers, directors, brokers or agents of such Loan Party, such Subsidiary or such Affiliate acting or benefiting in any capacity in connection with the Loans (i) conducts any business or
engages in making or receiving any contribution of funds, goods or services to or for the benefit of any Embargoed Person, (ii) deals in, or otherwise engages in any transaction related to, any property or interests in property blocked pursuant to
any Sanctions or (iii) engages in or conspires to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the applicable prohibitions set forth in any Economic Sanctions Laws. 

Except as otherwise disclosed in Schedule 3.25, to the Borrower’s knowledge, within the past five years, each of the Loan Parties
and its Subsidiaries is in compliance in all material respects with and has not committed any material violation of applicable law or regulation, permit, order or other decision or requirement having the force or effect of law or regulation of any
governmental entity concerning the importation of products, the exportation or re-exportation of products (including technology and services), the terms and conduct of international transactions and the making or receiving of international payments,
including, as applicable, the Tariff Act of 1930, as amended, and other laws, regulations and programs administered or enforced by U.S. Customs and Border Protection and U.S. Immigration and Customs Enforcement, and their predecessor agencies, the
Export Administration Act of 1979, as amended, the Export Administration Regulations, the International Emergency Economic Powers Act, as amended, the Trading With the Enemy Act, as amended, the Arms Export Control Act, as amended, the International
Traffic in Arms Regulations, Executive Orders of the President regarding embargoes and restrictions on transactions with designated entities, the embargoes and restrictions administered by the U.S. Office of Foreign Assets Control, the anti-boycott laws administered by the U.S. Department of Commerce and the anti-boycott laws administered by the U.S. Department of the Treasury. 

SECTION 3.26. FCPA. None of Holdings, the Borrower and its Subsidiaries nor any director, officer, agent, employee or
Affiliate of such Loan Party or Subsidiary is aware of or has taken any action, directly or indirectly, that would result in a violation by such persons of the FCPA or any other applicable anti-corruption laws, including, without limitation, making
use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or authorization or approval of the payment of any money, or other property, gift, promise to give or authorization
of the giving of anything of value, 

  
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directly or indirectly, to any “foreign official” (as such term is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office
in contravention of the FCPA or any other applicable anti-corruption laws. Holdings, the Borrower, and its Subsidiaries and their respective Affiliates have conducted their businesses in compliance with applicable anti-corruption laws and the FCPA
and will maintain policies and procedures designed to promote and achieve compliance with such laws and with the representation and warranty contained herein. 

ARTICLE IV  
 Conditions
of Lending 
 The obligations of (a) the Lenders to make Loans and (b) any Issuing Bank to issue Letters of Credit or increase the
stated amounts of Letters of Credit hereunder (each, a “Credit Event”) are subject to the satisfaction of the following conditions: 

SECTION 4.01. All Credit Events. On the date of each Borrowing and on the date of each issuance, amendment, extension or
renewal of a Letter of Credit: 
 (a) The Administrative Agent shall have received, in the case of a Borrowing, a
Borrowing Request as required by Section 2.03 (or a Borrowing Request shall have been deemed given in accordance with the last paragraph of Section 2.03) or, in the case of the issuance of a Letter of Credit, the applicable Issuing Bank and the
Administrative Agent shall have received a notice requesting the issuance of such Letter of Credit as required by Section 2.05(b). 

(b) Except in the case of an ABL Rebalancing Borrowing or an ABL Revolving L/C Rebalancing, the representations and
warranties set forth in the Loan Documents shall be true and correct in all material respects as of such date (other than an amendment, extension or renewal of a Letter of Credit without any increase in the stated amount of such Letter of Credit),
as applicable, with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date (in which case such representations and warranties shall be true and correct in
all material respects as of such earlier date). 
 (c) Except in the case of an ABL Rebalancing Borrowing or an ABL
Revolving L/C Rebalancing, at the time of and immediately after such Borrowing or issuance, amendment, extension or renewal of a Letter of Credit (other than an amendment, extension or renewal of a Letter of Credit without any increase in the stated
amount of such Letter of Credit), as applicable, no Event of Default or Default shall have occurred and be continuing. 
 Except in the case
of an ABL Rebalancing Borrowing or an ABL Revolving L/C Rebalancing, each such Borrowing and each issuance, amendment, extension or renewal of a Letter of Credit shall be deemed to constitute a representation and warranty by the Borrower on the date
of such Borrowing, issuance, amendment, extension or renewal as applicable, as to the matters specified in paragraphs (b) and (c) of this Section 4.01. 

  
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 SECTION 4.02. First Credit Event. The Amendment No. 3 Effective Date and the
Second Restatement Effective Date shall have occurred. 
 ARTICLE V  

Affirmative Covenants 

The Borrower covenants and agrees with each Lender that so long as this Agreement shall remain in effect (other than in respect of contingent
indemnification and expense reimbursement obligations for which no claim has been made) and until the Commitments have been terminated and the principal of and interest on each Loan, all Fees and all other expenses or amounts payable under any Loan
Document shall have been paid in full and all Letters of Credit have been canceled or have expired and all amounts drawn or paid thereunder have been reimbursed in full, unless the Required Lenders shall otherwise consent in writing, the Borrower
will, and will cause each of the Material Subsidiaries to: 
 SECTION 5.01. Existence; Businesses and Properties. 

(a) Do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence, except, in the
case of a Subsidiary, where the failure to do so would not reasonably be expected to have a Material Adverse Effect, and except as otherwise expressly permitted under Section 6.05; provided that the Borrower may liquidate or dissolve one or more
Subsidiaries if the assets of such Subsidiaries to the extent they exceed estimated liabilities are acquired by the Borrower or a Wholly Owned Subsidiary of the Borrower in such liquidation or dissolution, except that Subsidiary Loan Parties may not
be liquidated into Subsidiaries that are not Loan Parties and Domestic Subsidiaries may not be liquidated into Foreign Subsidiaries. 

(b) Except where the failure to do so would not reasonably be expected to have a Material Adverse Effect, do or cause to be done all
things necessary to (i) lawfully obtain, preserve, renew, extend and keep in full force and effect the permits, franchises, authorizations, patents, trademarks, service marks, trade names, copyrights, licenses and rights with respect thereto
necessary to the normal conduct of its business, and (ii) at all times maintain and preserve all property necessary to the normal conduct of its business and keep such property in good repair, working order and condition and from time to time make,
or cause to be made, all needful and proper repairs, renewals, additions, improvements and replacements thereto necessary in order that the business carried on in connection therewith, if any, may be properly conducted at all times (in each case
except as expressly permitted by this Agreement). 
 SECTION 5.02. Insurance. 

(a) Maintain, with financially sound and reputable insurance companies, insurance in such amounts and against such risks as are
customarily maintained by similarly situated companies engaged in the same or similar businesses operating in the same or similar locations and cause the Collateral Agent to be listed as a co loss payee on property and casualty policies and as an
additional insured on liability policies. 

  
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 (b) If any improvements located on any Mortgaged Property are at any time located in an area
identified by the Federal Emergency Management Agency (or any successor agency) as a Special Flood Hazard Area with respect to which flood insurance has been made available under the National Flood Insurance Act of 1968 (as now or hereafter in
effect or successor act thereto), then the Borrower shall, or shall cause the applicable Loan Party to (i) maintain, or cause to be maintained, with a financially sound and reputable insurer, flood insurance in an amount and otherwise sufficient to
comply with all applicable rules and regulations promulgated pursuant to the Flood Insurance Laws and (ii) deliver to the Administrative Agent evidence of such compliance in form and substance reasonably acceptable to the Administrative Agent 

(c) In connection with the covenants set forth in this Section 5.02, it is understood and agreed that: 

(i) neither the Administrative Agent, the Lenders, the Issuing Bank nor their respective agents or employees shall be
liable for any loss or damage insured by the insurance policies required to be maintained under this Section 5.02, it being understood that (A) the Loan Parties shall look solely to their insurance companies or any other parties other than the
aforesaid parties for the recovery of such loss or damage and (B) such insurance companies shall have no rights of subrogation against the Administrative Agent, the Lenders, any Issuing Bank or their agents or employees. If, however, the
insurance policies, as a matter of the internal policy of such insurer, do not provide waiver of subrogation rights against such parties, as required above, then each of Holdings and the Borrower, on behalf of itself and behalf of each of the
Subsidiaries, hereby agrees, to the extent permitted by law, to waive, and further agrees to cause each of the Subsidiaries to waive, its right of recovery, if any, against the Administrative Agent, the Lenders, any Issuing Bank and their agents and
employees; and 
 (ii) the designation of any form, type or amount of insurance coverage by the Administrative Agent
under this Section 5.02 shall in no event be deemed a representation, warranty or advice by the Administrative Agent or the Lenders that such insurance is adequate for the purposes of the business of Holdings, the Borrower and the Subsidiaries or
the protection of their properties. 
 SECTION 5.03. Taxes. Pay and discharge promptly when due all material Taxes imposed
upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims which, if unpaid, might give rise to a Lien (other than a Permitted Lien) upon such properties
or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such Tax so long as (a) the validity or amount thereof shall be contested in good faith by appropriate proceedings and
(b) Holdings, the Borrower or the affected Subsidiary, as applicable, shall have set aside on its books reserves in accordance with GAAP with respect thereto. 

  
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 SECTION 5.04. Financial Statements, Reports, etc. Furnish to the Administrative
Agent (which will promptly furnish such information to the Lenders): 
 (a) Within 90 days (or such other time period as
specified in the SEC’s rules and regulations with respect to non-accelerated filers for the filing of annual reports on Form 10-K), for each fiscal year (commencing with the fiscal year ending February 2, 2008), a consolidated balance sheet and
related statements of operations, cash flows and owners’ equity showing the financial position of the Borrower and the Subsidiaries as of the close of such fiscal year and the consolidated results of their operations during such year and,
starting with the fiscal year ending February 2, 2008, setting forth in comparative form the corresponding figures for the prior fiscal year, which consolidated balance sheet and related statements of operations, cash flows and owners’ equity
shall be audited by independent public accountants of recognized national standing and accompanied by an opinion of such accountants (which shall not be qualified as to scope of audit or as to the status of the Borrower or any Material Subsidiary as
a going concern) to the effect that such consolidated financial statements fairly present, in all material respects, the financial position and results of operations of the Borrower and the Subsidiaries on a consolidated basis in accordance with
GAAP, subject to exceptions consistent with the presentation of financial information contained in the Notes Offering Memorandum (it being understood that the filing with the Securities and Exchange Commission of annual reports on Form 10 K of the
Borrower and its consolidated Subsidiaries, or delivery by the Borrower of such reports to the Administrative Agent, shall satisfy the requirements of this Section 5.04(a) to the extent such annual reports include the information specified herein);

 (b) Within 45 days (or such other time period as specified in the SEC’s rules and regulations with respect to
non-accelerated filers for the filing of quarterly reports on Form 10 Q), for each of the first three fiscal quarters of each fiscal year, a consolidated balance sheet and related statements of operations and cash flows showing the financial
position of the Borrower and the Subsidiaries as of the close of such fiscal quarter and the consolidated results of their operations during such fiscal quarter and the then elapsed portion of the fiscal year and setting forth in comparative form
the corresponding figures for the corresponding periods of the prior fiscal year, all of which shall be in reasonable detail and which consolidated balance sheet and related statements of operations and cash flows shall be certified by a Financial
Officer of the Borrower on behalf of the Borrower as fairly presenting, in all material respects, the financial position and results of operations of the Borrower and the Subsidiaries on a consolidated basis in accordance with GAAP (subject to
normal year-end audit adjustments and the absence of footnotes, and to exceptions consistent with the presentation of financial information contained in the Notes Offering Memorandum (it being understood that the filing with the Securities and
Exchange Commission of quarterly reports on Form 10 Q of the Borrower and its consolidated Subsidiaries, or delivery by the Borrower of such reports to the Administrative Agent, shall satisfy the requirements of this Section 5.04(b) to the extent
such quarterly reports include the information specified herein); 
 (c) (x) concurrently with any delivery of financial
statements under paragraphs (a) or (b) above, a certificate of a Financial Officer of the Borrower (i) 

  
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certifying that no Event of Default or Default has occurred or, if such an Event of Default or Default has occurred, specifying the nature and extent thereof and any corrective action taken or
proposed to be taken with respect thereto and (ii) setting forth computations in reasonable detail demonstrating compliance with the Financial Performance Covenant as of the end of the applicable fiscal period, (y) certifying a list of names of all
Unrestricted Subsidiaries and that each Subsidiary set forth on such list qualifies as an Unrestricted Subsidiary and (z) concurrently with any delivery of financial statements under paragraph (a) above, if the accounting firm is not restricted from
providing such a certificate by its policies, a certificate of the accounting firm opining on or certifying such statements stating whether they obtained knowledge during the course of their examination of such statements of any Default or Event of
Default (which certificate may be limited to accounting matters and disclaim responsibility for legal interpretations); 

(d) promptly after the same become publicly available, copies of all periodic and other publicly available reports, proxy
statements and, to the extent requested by the Administrative Agent, other materials filed by Holdings, the Borrower or any of the Subsidiaries with the SEC, or after an initial public offering, distributed to its stockholders generally, as
applicable; provided, however, that such reports, proxy statements, filings and other materials required to be delivered pursuant to this clause (d) shall be deemed delivered for purposes of this Agreement when posted to the website of
the Borrower; 
 (e) within 120 days after the beginning of each fiscal year, a reasonably detailed consolidated annual
budget for such fiscal year (including a projected consolidated balance sheet of the Borrower and the Subsidiaries as of the end of the following fiscal year, and the related consolidated statements of projected cash flow and projected income),
including a description of underlying assumptions with respect thereto (collectively, the “Budget”), which Budget shall in each case be accompanied by the statement of a Financial Officer of the Borrower to the effect that, the
Budget is based on assumptions believed by such Financial Officer to be reasonable as of the date of delivery thereof; 

(f) upon the reasonable request of the Administrative Agent, an updated Perfection Certificate (or, to the extent such
request relates to specified information contained in the Perfection Certificate, such information) reflecting all changes since the date of the information most recently received pursuant to this paragraph (f) or Section 5.10(e); 

(g) promptly, from time to time, such other information regarding the operations, business affairs and financial condition
of Holdings, the Borrower or any of the Subsidiaries, or compliance with the terms of any Loan Document, as in each case the Administrative Agent may reasonably request (for itself or on behalf of any Lender); 

(h) in the event that Holdings or a Parent Entity is not engaged in any business or activity, and does not own any assets
or have other liabilities, other than those incidental to its ownership directly or indirectly of the Equity Interests of the Borrower 

  
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and the incurrence of Indebtedness for borrowed money (and, without limitation on the foregoing, does not have any subsidiaries other than the Borrower and the Borrower’s Subsidiaries and
any direct or indirect parent companies of the Borrower that are not engaged in any other business or activity and do not hold any other assets or have any liabilities except as indicated above) such consolidated reporting at such Parent
Entity’s level in a manner consistent with that described in paragraphs (a) and (b) of this Section 5.04 for the Borrower will satisfy the requirements of such paragraphs; 

(i) promptly upon request by the Administrative Agent, copies of: (i) each Schedule B (Actuarial Information) to the
most recent annual report (Form 5500 Series) filed with the Internal Revenue Service with respect to a Plan; (ii) the most recent actuarial valuation report for any Plan; (iii) all notices received from a Multiemployer Plan sponsor, a plan
administrator or any governmental agency, or provided to any Multiemployer Plan by the Borrower, a Subsidiary or any ERISA Affiliate, concerning an ERISA Event; and (iv) with respect to any employee benefit pension plan or other employee benefit
plan governed by the laws of a jurisdiction other than the United States, any available annual reports, actuarial valuation reports or notices from plan sponsors or any governmental entity with respect to such plans; 

(j) promptly following any request therefore by the Administrative Agent, on and after the effectiveness of Title V of the
Pension Act, copies of (i) any documents described in Section 101(k)(1) of ERISA that Holdings, the Borrower, a Subsidiary or any ERISA Affiliates may request with respect to any Multiemployer Plan and (ii) any notices described in Section 101(l)(1)
of ERISA that the Holdings, the Borrower, a Subsidiary or any of its ERISA Affiliates may request with respect to any Multiemployer Plan; provided that if Holdings, the Borrower, a Subsidiary or any of its ERISA Affiliates have not requested such
documents or notices from the administrator or sponsor of the applicable Multiemployer Plan, Holdings, the Borrower, a Subsidiary or its ERISA Affiliates shall promptly make a request for such documents or notices from the such administrator or
sponsor and shall provide copies of such documents and notices promptly after receipt thereof; and 
 (k) within 30 days
after the end of each fiscal month of the Borrower (commencing with fiscal September 2016) , (i) an unaudited consolidated statement of operations of the Borrower and the Subsidiaries setting forth the consolidated results of its operations during
such fiscal month and the then elapsed portion of the fiscal year and setting forth in comparative form the corresponding figures for the corresponding periods of the prior fiscal year, all of which shall be in a format consistent with the
Borrower’s most recent quarterly report on Form 10-Q and which consolidated statement of operations shall be certified by a Financial Officer of the Borrower on behalf of the Borrower as fairly presenting, in all material respects, the results
of operations of the Borrower and the Subsidiaries on a consolidated basis in accordance with GAAP (subject to normal quarter-end and year-end audit adjustments and the absence of footnotes) and (ii) a projected statement of cash flows for the 13
week period commencing on the day following the last day of the fiscal month for which financial statements are being delivered pursuant to subclause (i) above including a description of underlying assumptions with respect thereto, which projected
cash flow statement shall in each case 

  
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be accompanied by the statement of a Financial Officer of the Borrower to the effect that, such projected cash flow statement is based on assumptions believed by such Financial Officer to be
reasonable as of the date of delivery thereof. 
 SECTION 5.05. Litigation and Other Notices. Furnish to the Administrative
Agent (which will promptly thereafter furnish to the Lenders) written notice of the following promptly after any Responsible Officer of Holdings or the Borrower obtains actual knowledge thereof: 

(a) any Event of Default or Default, specifying the nature and extent thereof and the corrective action (if any) proposed to be taken with
respect thereto; 
 (b) the filing or commencement of, or any written threat or notice of intention of any person to file or commence,
any action, suit or proceeding, whether at law or in equity or by or before any Governmental Authority or in arbitration, against Holdings, the Borrower or any of the Subsidiaries as to which an adverse determination is reasonably probable and
which, if adversely determined, would reasonably be expected to have a Material Adverse Effect; 
 (c) any other development specific
to Holdings, the Borrower or any of the Subsidiaries that is not a matter of general public knowledge and that has had, or would reasonably be expected to have, a Material Adverse Effect; and 

(d) the development of any ERISA Event that, together with all other ERISA Events that have developed or occurred, would reasonably be
expected to have a Material Adverse Effect. 
 SECTION 5.06. Compliance with Laws. Comply with all laws, rules, regulations
and orders of any Governmental Authority applicable to it or its property, except where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect; provided, that this
Section 5.06 shall not apply to Environmental Laws, which are the subject of Section 5.09, or to laws related to Taxes, which are the subject of Section 5.03. 

SECTION 5.07. Maintaining Records; Access to Properties and Inspections. Maintain all financial records in accordance with GAAP
and permit any persons designated by the Administrative Agent or, upon the occurrence and during the continuance of an Event of Default, any Lender to visit and inspect the financial records and the properties of Holdings, the Borrower or any of the
Subsidiaries at reasonable times, upon reasonable prior notice to Holdings or the Borrower, and as often as reasonably requested and to make extracts from and copies of such financial records, and permit any persons designated by the Administrative
Agent or, upon the occurrence and during the continuance of an Event of Default, any Lender upon reasonable prior notice to Holdings or the Borrower to discuss the affairs, finances and condition of Holdings, the Borrower or any of the Subsidiaries
with the officers thereof and independent accountants therefor (subject to reasonable requirements of confidentiality, including requirements imposed by law or by contract). 

SECTION 5.08. Use of Proceeds. Use the proceeds of the Revolving Facility Loans and request issuance of Letters of Credit
solely for general corporate purposes. 

  
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 SECTION 5.09. Compliance with Environmental Laws. Comply, and make reasonable
efforts to cause all lessees and other persons occupying its properties to comply, with all Environmental Laws applicable to its operations and properties; and obtain and renew all material authorizations and permits required pursuant to
Environmental Law for its operations and properties, in each case in accordance with Environmental Laws, except, in each case with respect to this Section 5.09, to the extent the failure to do so would not reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect. 
 SECTION 5.10. Further Assurances; Additional Security. 

(a) Execute any and all further documents, financing statements, agreements and instruments, and take all such further actions (including
the filing and recording of financing statements, fixture filings, Mortgages and other documents and recordings of Liens in stock registries), that may be required under any applicable law, or that the Collateral Agent may reasonably request, to
satisfy the Collateral and Guarantee Requirement and to cause the Collateral and Guarantee Requirement to be and remain satisfied, all at the expense of the Loan Parties and provide to the Collateral Agent, from time to time upon reasonable request,
evidence reasonably satisfactory to the Collateral Agent as to the perfection and priority of the Liens created or intended to be created by the Security Documents. 

(b) If any asset (including any owned Real Property (other than owned Real Property covered by paragraph (c) below) or improvements
thereto or any interest therein) that has an individual fair market value in an amount greater than $1.0 million is acquired by the Borrower or any other Loan Party after the Closing Date or owned by an entity at the time it becomes a Subsidiary
Loan Party (in each case other than (x) assets constituting Collateral under a Security Document that become subject to the Lien of such Security Document upon acquisition thereof and (y) assets that are not required to become subject to Liens in
favor of the Collateral Agent pursuant to Section 5.10(g) or the Security Documents) will (i) notify the Collateral Agent thereof, (ii) if such asset is comprised of Real Property, deliver to Collateral Agent an updated Schedule 1.01B
reflecting the addition of such asset, and (iii) cause such asset to be subjected to a Lien securing the Obligations and take, and cause the Subsidiary Loan Parties to take, such actions as shall be necessary or reasonably requested by the
Collateral Agent to grant and perfect such Liens, including actions described in paragraph (a) of this Section, all at the expense of the Loan Parties, subject to paragraph (g) below. 

(c) As soon as practicable but in no event later than the date of delivery of financial statements immediately following the acquisition
of such Real Property pursuant to Section 5.04(a) or (b), notify the Collateral Agent of the acquisition of, grant and cause each of the Subsidiary Loan Parties to grant to the Collateral Agent security interests and mortgages in such owned Real
Property of the Borrower or any such Subsidiary Loan Parties as are not covered by the then existing Mortgages, to the extent acquired after the Closing Date and having a value at the time of acquisition in excess of $5.0 million pursuant to
Mortgages (each, an “Additional Mortgage”) and constituting valid and enforceable Liens subject to no other Liens except Permitted Liens at the time of perfection thereof, record or file, and cause each such Subsidiary to record or
file, the Additional Mortgage or instruments related thereto in such manner and in such places as is required by law to establish, perfect, preserve and protect the Liens in favor of the Collateral Agent required to be granted pursuant to the
Additional 

  
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Mortgages and pay, and cause each such Subsidiary to pay, in full, all Taxes, fees and other charges payable in connection therewith, in each case subject to paragraph (g) below. Unless
otherwise waived by the Collateral Agent, with respect to each such Additional Mortgage, the Borrower shall deliver to the Collateral Agent contemporaneously therewith a title insurance policy, and a survey. 

(d) If any additional direct or indirect Subsidiary of the Borrower is formed or acquired after the Closing Date and if such Subsidiary
is a Subsidiary Loan Party, within five Business Days after the date such Subsidiary is formed or acquired, the Borrower shall notify the Collateral Agent and the Lenders thereof and, within 20 Business Days after the date such Subsidiary is formed
or acquired or such longer period as the Collateral Agent shall agree, cause the Collateral and Guarantee Requirement to be satisfied with respect to such Subsidiary and with respect to any Equity Interest in or Indebtedness of such Subsidiary owned
by or on behalf of any Loan Party, subject to paragraph (g) below. 
 (e) If any additional Foreign Subsidiary of the Borrower is
formed or acquired after the Closing Date and if such Subsidiary is a “first tier” Foreign Subsidiary, within five Business Days after the date such Foreign Subsidiary is formed or acquired, the Borrower shall notify the Collateral Agent
and the Lenders thereof and, within 20 Business Days after the date such Foreign Subsidiary is formed or acquired or such longer period as the Collateral Agent shall agree, cause the Collateral and Guarantee Requirement to be satisfied with respect
to any Equity Interest in such Foreign Subsidiary owned by or on behalf of any Loan Party, subject to paragraph (g) below. 
 (f) (i)
Furnish to the Collateral Agent prompt written notice of any change (A) in any Loan Party’s corporate or organization name, (B) in any Loan Party’s identity or organizational structure or (C) in any Loan Party’s organizational
identification number; provided, that the Borrower shall not effect or permit any such change unless all filings have been made, or will have been made within any statutory period, under the Uniform Commercial Code or otherwise that are
required in order for the Collateral Agent to continue at all times following such change to have a valid, legal and perfected security interest in all the Collateral for the benefit of the Secured Parties and (ii) promptly notify the Collateral
Agent if any material portion of the Collateral is damaged or destroyed. 
 (g) The Collateral and Guarantee Requirement and the other
provisions of this Section 5.10 need not be satisfied with respect to (i) any interests in Real Property held by the Borrower or any of its Subsidiaries as a lessee under a lease or that has an individual fair market value in an amount less than
$5.0 million, (ii) any vehicle, (iii) perfection of cash, deposit accounts and securities accounts, (iv) any Equity Interests acquired after the Closing Date (other than Equity Interests in the Borrower or, in the case of any person which is a
Subsidiary, Equity Interests in such person issued or acquired after such person became a Subsidiary) in accordance with this Agreement if, and to the extent that, and for so long as (A) doing so would violate applicable law or a contractual
obligation binding on such Equity Interests and (B) with respect to contractual obligations, such obligation existed at the time of the acquisition thereof and was not created or made binding on such Equity Interests in contemplation of or in
connection with the acquisition of such Subsidiary, (v) any assets acquired after the Closing Date, to the extent that, and for so long as, taking such actions would violate applicable law or an enforceable


  
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contractual obligation binding on such assets that existed at the time of the acquisition thereof and was not created or made binding on such assets in contemplation or in connection with the
acquisition of such assets (except in the case of assets acquired with Indebtedness permitted pursuant to Section 6.01(i) that is secured by a Permitted Lien) or (vi) those assets as to which the Administrative Agent shall reasonably determine that
the costs of obtaining or perfecting such a security interest are excessive in relation to the value of the security to be afforded thereby; provided, that, upon the reasonable request of the Collateral Agent, the Borrower shall, and shall
cause any applicable Subsidiary to, use commercially reasonable efforts to have waived or eliminated any contractual obligation of the types described in clauses (iv) and (v) above. 

SECTION 5.11. Reserved. 

SECTION 5.12. Fiscal Year; Accounting. In the case of the Borrower, cause its fiscal year to end on the Saturday closest to
January 31, unless prior written notice of a change is given to the Administrative Agent concurrently with any required notice to the SEC. 

ARTICLE VI 
 Negative Covenants

 The Borrower covenants and agrees with each Lender that, so long as this Agreement shall remain in effect (other than in respect of
contingent indemnification and expense reimbursement obligations for which no claim has been made) and until the Commitments have been terminated and the principal of and interest on each Loan, all Fees and all other expenses or amounts payable
under any Loan Document have been paid in full and all Letters of Credit have been canceled or have expired and all amounts drawn or paid thereunder have been reimbursed in full, unless the Required Lenders shall otherwise consent in writing, the
Borrower will not, and will not permit any of the Subsidiaries to: 
 SECTION 6.01. Indebtedness. Incur, create, assume or
permit to exist any Indebtedness, except: 
 (a) Indebtedness existing on the Closing Date and set forth on Schedule
6.01 (other than Capital Lease Obligations) and any Permitted Refinancing Indebtedness incurred to Refinance such Indebtedness (other than intercompany indebtedness Refinanced with Indebtedness owed to a person not affiliated with the Borrower
or any Subsidiary); 
 (b) Indebtedness created hereunder and under the other Loan Documents, the Senior Unsecured
Notes, the Senior Subordinated Notes, the Senior Secured First Lien Notes, the Senior Secured Second Lien Notes, the ABL Credit Agreement and any Permitted Refinancing Indebtedness incurred to Refinance any such Indebtedness; 

(c) Indebtedness of the Borrower or any Subsidiary pursuant to Swap Agreements; 

(d) Indebtedness owed to (including obligations in respect of letters of credit or bank guarantees or similar instruments
for the benefit of) any person providing 

  
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workers’ compensation, health, disability or other employee benefits or property, casualty or liability insurance to the Borrower or any Subsidiary, pursuant to reimbursement or
indemnification obligations to such person, in each case in the ordinary course of business; provided, that upon the incurrence of Indebtedness with respect to reimbursement obligations regarding workers’ compensation claims, such
obligations are reimbursed not later than 30 days following such incurrence; 
 (e) Indebtedness of the Borrower or
Holdings to any Subsidiary and of any Subsidiary to the Borrower, Holdings or any Subsidiary; provided, that (i) Indebtedness of any Subsidiary that is not a Subsidiary Loan Party owing to the Loan Parties shall be subject to Section 6.04(b)
and (ii) Indebtedness of the Borrower or any Subsidiary to any Subsidiary that is not a Subsidiary Loan Party (the “Subordinated Intercompany Debt”) to the greatest extent permitted by applicable law (with the Borrower to advise the
Administrative Agent in reasonable detail of any limitations under applicable law), (A) shall be subordinated to the Obligations on terms reasonably satisfactory to the Administrative Agent, and (B) such Indebtedness (and all interest thereon
and all fees, expenses, and other amounts payable in respect thereof) shall only be payable in kind; 
 (f) Indebtedness
in respect of performance bonds, bid bonds, appeal bonds, surety bonds and completion guarantees and similar obligations, in each case provided in the ordinary course of business, including those incurred to secure health, safety and environmental
obligations in the ordinary course of business; 
 (g) Indebtedness arising from the honoring by a bank or other
financial institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business or other cash management services in the ordinary course of business; provided, that (x) such Indebtedness
(other than credit or purchase cards) is extinguished within ten Business Days of notification to the Borrower of its incurrence and (y) such Indebtedness in respect of credit or purchase cards is extinguished within 60 days from its incurrence;

 (h) [Reserved]; 

(i) Capital Lease Obligations, mortgage financings and purchase money Indebtedness incurred by the Borrower or any
Subsidiary prior to or within 270 days after the acquisition, lease or improvement of the respective property (real or personal, and whether through the direct purchase of property or the Equity Interests of any person owning such property)
permitted under this Agreement in order to finance such acquisition, lease or improvement, and any Permitted Refinancing Indebtedness in respect thereof; provided, that the amount of Indebtedness incurred pursuant to this Section 6.01(i),
when combined with the aggregate principal amount of Indebtedness incurred pursuant to (i) Section 6.01(h) and Sections 6.01(i) and 6.01(j) of the ABL Credit Agreement, and (ii) the Remaining Present Value of outstanding leases permitted under
Section 6.03 and Section 6.03 of the ABL Credit Agreement, shall not exceed an aggregate principal amount equal to $37 million at any time outstanding; and provided, further, that any lease arrangements that are not (or, if entered
into after the Closing Date, would not have been) Capital Lease Obligations as of the Closing Date but subsequently 

  
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become Capital Lease Obligations whether as a result of (x) any changes in GAAP or (y) any changes in the terms of such arrangements required in connection with the ordinary course renewal or
extension thereof, shall not constitute Capital Lease Obligations hereunder or for any other provision of this Agreement; 

(j) Capital Lease Obligations or other obligations incurred by the Borrower or any Subsidiary in respect of any Sale and
Lease Back Transaction that is permitted under Section 6.03, and any Permitted Refinancing Indebtedness in respect thereof; 

(k) other Indebtedness of the Borrower or any Subsidiary, in an aggregate principal amount that at the time of, and after
giving effect to, the incurrence thereof, would not exceed $100 million; 
 (l) Guarantees (i) by the Loan Parties of
the Indebtedness of the Borrower described in paragraphs (a) and (b) of this Section 6.01, so long as the Guarantee of the Senior Subordinated Notes or any Permitted Refinancing Indebtedness in respect thereof are subordinated substantially on terms
as set forth in the Senior Subordinated Notes Indenture with respect to the Senior Subordinated Notes, (ii) by the Borrower or any Subsidiary Loan Party of any Indebtedness or other obligations of the Borrower or any Subsidiary Loan Party permitted
to be incurred under this Agreement, (iii) by the Borrower or any Subsidiary Loan Party of Indebtedness otherwise permitted hereunder of any Subsidiary that is not a Subsidiary Loan Party to the extent such Guarantees are permitted by Section 6.04
(other than Section 6.04(v)), (iv) by any Foreign Subsidiary of Indebtedness of another Foreign Subsidiary, and (v) by the Borrower of Indebtedness of Foreign Subsidiaries incurred for working capital purposes in the ordinary course of business on
ordinary business terms so long as such Indebtedness is permitted to be incurred under Section 6.01(r) to the extent such Guarantees are permitted by 6.04 (other than Section 6.04(v)); provided, that Guarantees by the Borrower or any Loan
Party under this Section 6.01(l) of any other Indebtedness of a person that is subordinated to other Indebtedness of such person shall be expressly subordinated to the Obligations to at least the same extent as the Guarantee of the Senior
Subordinated Notes is under the Senior Subordinated Notes Indenture; 
 (m) Indebtedness arising from agreements of the
Borrower or any Subsidiary providing for indemnification, adjustment of purchase or acquisition price or similar obligations, in each case, incurred or assumed in connection with the Exchange Transactions and any Permitted Business Acquisition or
the disposition of any business, assets or a Subsidiary not prohibited by this Agreement, other than Guarantees of Indebtedness incurred by any person acquiring all or any portion of such business, assets or a Subsidiary for the purpose of financing
such acquisition; provided, that the aggregate amount at any time outstanding under this Section 6.01(m) shall not exceed $5 million; 

(n) Indebtedness in respect of letters of credit, bank guarantees, warehouse receipts or similar instruments issued to
support performance obligations and trade letters of credit (other than obligations in respect of other Indebtedness) in the ordinary course of business; 

  
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 (o) (o) Indebtedness (other than Indebtedness for borrowed money)
supported by a Letter of Credit, in a principal amount not in excess of the stated amount of such Letter of Credit; 

(p) Indebtedness consisting of (i) the financing of insurance premiums or (ii) take or pay obligations contained in supply
arrangements, in each case, in the ordinary course of business; 
 (q) Indebtedness in connection with (i) Permitted
Receivables Financings, (ii) the Existing European Revolving Credit Agreement and (iii) Permitted Refinancing Indebtedness of any of the foregoing clauses (i) and (ii); provided that the combined aggregate amounts under any such Indebtedness shall
not exceed $50 million at any time outstanding; subject, in the case of the Existing European Revolving Credit Agreement to the condition that any such refinancing Indebtedness will rank pari passu or junior to the Obligations in all respects; 

(r) unsecured Indebtedness in respect of obligations of the Borrower or any Subsidiary to pay the deferred purchase price
of goods or services or progress payments in connection with such goods and services; provided, that such obligations are incurred in connection with open accounts extended by suppliers on customary trade terms (which require that all such
payments be made within 60 days after the incurrence of the related obligations) in the ordinary course of business and not in connection with the borrowing of money or any Swap Agreements; 

(s) Indebtedness representing deferred compensation to employees of the Borrower or any Subsidiary incurred in the
ordinary course of business; 
 (t) [Reserved]; 

(u) [Reserved]; 

(v) Indebtedness incurred on behalf of, or representing Guarantees of Indebtedness of, joint ventures not in excess, at
any one time outstanding when combined with the total amount of any Investments in joint ventures made pursuant to Section 6.04(cc), of the greater of $10 million or 1.0% of Consolidated Total Assets as of the end of the fiscal quarter immediately
prior to the date of such incurrence for which financial statements have been delivered pursuant to Section 5.04; 

(w) Indebtedness issued by the Borrower or any Subsidiary to current or former officers, directors and employees, their
respective estates, spouses or former spouses to finance the purchase or redemption of Equity Interests of Holdings or any Parent Entity permitted by Section 6.06; 

(x) [Reserved]; and 

(y) all premium (if any, including tender premiums), defeasance costs, interest (including post petition interest), fees,
expenses, charges and additional or contingent interest on obligations described in paragraphs (a) through (y) above. 

  
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 For purposes of determining compliance with this Section 6.01, the amount of any Indebtedness denominated in any
currency other than Dollars shall be calculated based on customary currency exchange rates in effect, in the case of such Indebtedness incurred (in respect of term Indebtedness) or committed (in respect of revolving Indebtedness) on or prior to the
Closing Date, on the Closing Date and, in the case of such Indebtedness incurred (in respect of term Indebtedness) or committed (in respect of revolving Indebtedness) after the Closing Date, on the date that such Indebtedness was incurred (in
respect of term Indebtedness) or committed (in respect of revolving Indebtedness); provided that if such Indebtedness is incurred to refinance other Indebtedness denominated in a currency other than Dollars (or in a different currency from the
Indebtedness being refinanced), and such refinancing would cause the applicable Dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such Dollar-denominated
restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing Indebtedness does not exceed (i) the outstanding or committed principal amount, as applicable, of such Indebtedness being refinanced plus (ii)
the aggregate amount of fees, underwriting discounts, premiums (including tender premiums), defeasance costs and other costs and expenses incurred in connection with such refinancing. 

SECTION 6.02. Liens. Create, incur, assume or permit to exist any Lien on any property or assets (including stock or other
securities of any person, including the Borrower and any Subsidiary) at the time owned by it or on any income or revenues or rights in respect of any thereof, except the following (collectively, “Permitted Liens”): 

(a) Liens on property or assets of the Borrower and the Subsidiaries existing on the Closing Date (x) and set forth on
Schedule 6.02(a) or, to the extent not listed in such Schedule, where such property or assets have a fair market value that does not exceed $10 million in the aggregate, and any modifications, replacements, renewals or extensions thereof;
provided, that such Liens shall secure only those obligations that they secure on the Closing Date (and any Permitted Refinancing Indebtedness in respect of such obligations permitted by Section 6.01(a)) and shall not subsequently apply to any other
property or assets of the Borrower or any Subsidiary other than (A) after-acquired property that is affixed or incorporated into the property covered by such Lien, and (B) proceeds and products thereof or (y) related to Indebtedness permitted under
Section 6.01(b) secured by Liens as of the Closing Date (and Permitted Refinancing Indebtedness incurred to Refinance such Indebtedness) may be secured by Liens on after-acquired property or assets to the extent otherwise permitted under this
Section 6.02; 
 (b) any Lien created under the Loan Documents (including, without limitation, Liens created under the
Loan Documents securing Obligations in respect of Swap Agreements) or permitted in respect of any Mortgaged Property by the terms of the applicable Mortgage; 

(c) any Lien on any property or asset of the Borrower or any Subsidiary securing Indebtedness or Permitted Refinancing
Indebtedness permitted by Section 6.01(h); provided, that such Lien (i) does not apply to any other property or assets of the Borrower or any of the Subsidiaries not securing such Indebtedness at the date of the acquisition of such property
or asset (other than after acquired property subjected to a 

  
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Lien securing Indebtedness and other obligations incurred prior to such date and which Indebtedness and other obligations are permitted hereunder that require a pledge of after acquired property,
it being understood that such requirement shall not be permitted to apply to any property to which such requirement would not have applied but for such acquisition), (ii) such Lien is not created in contemplation of or in connection with such
acquisition and (iii) in the case of a Lien securing Permitted Refinancing Indebtedness, any such Lien is permitted, subject to compliance with clause (d) of the definition of the term “Permitted Refinancing Indebtedness”; 

(d) Liens for Taxes, assessments or other governmental charges or levies not yet delinquent or that are being contested in
compliance with Section 5.03; 
 (e) Liens imposed by law, including landlord’s, carriers’,
warehousemen’s, mechanics’, materialmen’s, repairmen’s, construction or other like Liens arising in the ordinary course of business, securing obligations that are not overdue by more than 30 days or that are being contested in
good faith by appropriate proceedings and in respect of which, if applicable, the Borrower or any Subsidiary shall have set aside on its books reserves in accordance with GAAP; 

(f) (i) pledges and deposits and other Liens made in the ordinary course of business in compliance with the Federal
Employers Liability Act or any other workers’ compensation, unemployment insurance and other social security laws or regulations and deposits securing liability to insurance carriers under insurance or self-insurance arrangements in respect of
such obligations and (ii) pledges and deposits and other Liens securing liability for reimbursement or indemnification obligations of (including obligations in respect of letters of credit or bank guarantees for the benefit of) insurance carriers
providing property, casualty or liability insurance to the Borrower or any Subsidiary; 
 (g) deposits and other Liens
to secure the performance of bids, trade contracts (other than for Indebtedness), leases (other than Capital Lease Obligations), statutory obligations, surety and appeal bonds, performance and return of money bonds, bids, leases, government
contracts, trade contracts, agreements with utilities, and other obligations of a like nature (including letters of credit in lieu of any such bonds or to support the issuance thereof) incurred by the Borrower or any Subsidiary in the ordinary
course of business, including those incurred to secure health, safety and environmental obligations in the ordinary course of business; 

(h) restrictions, survey exceptions and such matters as an accurate survey would disclose, easements, trackage rights,
leases (other than Capital Lease Obligations), licenses, special assessments, rights of way, covenants, conditions, restrictions and declarations on or with respect to the use of Real Property, servicing agreements, development agreements, site plan
agreements and other similar encumbrances incurred in the ordinary course of business and title defects or irregularities that are of a minor nature and that, in the aggregate, do not interfere in any material respect with the ordinary conduct of
the business of the Borrower or any Subsidiary; 

  
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 (i) Liens securing Indebtedness permitted by Section 6.01(i) (limited to the
assets subject to such Indebtedness); 
 (j) Liens arising out of capitalized lease transactions permitted under Section
6.03, so long as such Liens attach only to the property sold and being leased in such transaction and any accessions thereto or proceeds thereof and related property; 

(k) Liens securing judgments that do not constitute an Event of Default under Section 7.01(j); 

(l) Liens disclosed by the title insurance policies delivered pursuant to Section 5.10 and any replacement, extension or
renewal of any such Lien; provided, that such replacement, extension or renewal Lien shall not cover any property other than the property that was subject to such Lien prior to such replacement, extension or renewal; provided,
further, that the Indebtedness and other obligations secured by such replacement, extension or renewal Lien are permitted by this Agreement; 

(m) any interest or title of a lessor or sublessor under any leases or subleases entered into by the Borrower or any
Subsidiary in the ordinary course of business; 
 (n) Liens that are contractual rights of set off (i) relating to the
establishment of depository relations with banks not given in connection with the issuance of Indebtedness, (ii) relating to pooled deposit or sweep accounts of the Borrower or any Subsidiary to permit satisfaction of overdraft or similar
obligations incurred in the ordinary course of business of the Borrower or any Subsidiary or (iii) relating to purchase orders and other agreements entered into with customers of the Borrower or any Subsidiary in the ordinary course of business;

 (o) Liens arising solely by virtue of any statutory or common law provision relating to banker’s liens, rights
of set off or similar rights; 
 (p) Liens securing obligations in respect of trade related letters of credit, bank
guarantees or similar obligations permitted under Section 6.01(f), (i) or (k) and covering the property (or the documents of title in respect of such property) financed by such letters of credit, bank guarantees or similar obligations and the
proceeds and products thereof; 
 (q) leases or subleases, licenses or sublicenses (including with respect to
intellectual property and software) granted to others in the ordinary course of business not interfering in any material respect with the business of the Borrower and the Subsidiaries, taken as a whole; 

(r) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in
connection with the importation of goods; 
 (s) Liens solely on any cash earnest money deposits made by the Borrower or
any of the Subsidiaries in connection with any letter of intent or purchase agreement in respect of any Investment permitted hereunder; 

  
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 (t) Liens with respect to property or assets of any Foreign Subsidiary
securing Indebtedness of a Foreign Subsidiary permitted under Section 6.01; 
 (u) other Liens on the Collateral ranking
pari passu or junior to the Liens securing the Obligations; provided that (i) (except in the case of Liens that are subordinated to the Liens securing the Obligations and that secure Indebtedness incurred to Refinance the Senior Subordinated
Notes or the Senior Unsecured Notes) after giving effect to any such Lien and the incurrence of Indebtedness, if any, secured by such Lien (x) the total principal amount of such Indebtedness (other than the Senior Secured Second Lien Notes and other
Indebtedness secured by Liens that are subordinated to the Liens securing the Obligations (it being understood that such Liens may be senior in priority to, or pari passu with, or junior in priority to, Liens securing Indebtedness other than the
Obligations), when aggregated with the principal amount of the Senior Secured First Lien Notes, the principal amount of Additional Obligations and the principal amount of ABL Facility Commitments and Revolving Facility Commitments (provided that the
aggregate funded outstanding balance of commitments under this Agreement and the ABL Credit Agreement shall not exceed $75 million) then in effect, shall not exceed $1,450 million, or (y) if such total principal amount is equal to or exceeds $1,450
million, immediately after giving effect to the incurrence of such Indebtedness, the Total Net Secured Leverage Ratio on a Pro Forma Basis (but excluding the proceeds of such Indebtedness from Unrestricted Cash) shall be less than or equal to 3.75
to 1.00, (ii) at the time of the incurrence of such Lien and after giving effect thereto, no Default or Event of Default shall have occurred and be continuing or would result therefrom and (iii) the Indebtedness or other obligations secured by such
Lien are otherwise permitted by this Agreement; provided, further, that to the extent such Liens (x) are subordinated to the Liens granted hereunder, the trustee or agent with respect to such Indebtedness shall have become a party to
the Second Lien Intercreditor Agreement as a “Second Priority Agent” (as defined therein) or (y) are pari passu to the Liens granted hereunder, the trustee or agent with respect to such Indebtedness shall have become a party to the First
Lien Intercreditor Agreement and, if applicable, the ABL Intercreditor Agreement, as a “Collateral Agent” (as defined in such intercreditor agreements); 

(v) the prior rights of consignees and their lenders under consignment arrangements entered into in the ordinary course of
business; 
 (w) Liens arising from precautionary Uniform Commercial Code financing statements or consignments entered
into in connection with any transaction otherwise permitted under this Agreement; 
 (x) Liens on Equity Interests in
joint ventures securing obligations of such joint venture; 
 (y) Liens on securities that are the subject of repurchase
agreements constituting Permitted Investments under clause (c) of the definition thereof; 
 (z) Liens in respect of
Permitted Receivables Financings that extend only to the receivables subject thereto; 

  
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 (aa) Liens on goods or inventory the purchase, shipment or storage price of
which is financed by a documentary letter of credit, bank guarantee or bankers’ acceptance issued or created for the account of the Borrower or any Subsidiary in the ordinary course of business; provided, that such Lien secures only the
obligations of the Borrower or such Subsidiaries in respect of such letter of credit, bank guarantee or banker’s acceptance to the extent permitted under Section 6.01; 

(bb) Liens securing insurance premiums financing arrangements, provided, that such Liens are limited to the
applicable unearned insurance premiums; 
 (cc) Liens in favor of the Borrower or any Subsidiary Loan Party; provided
that if any such Lien shall cover any Collateral, the holder of such Lien shall execute and deliver to the Administrative Agent a subordination agreement in form and substance reasonably satisfactory to the Administrative Agent; 

(dd) Liens on not more than $30 million of deposits securing Swap Agreements; and 

(ee) [Reserved]. 

SECTION 6.03. Sale and Lease Back Transactions. Enter into any arrangement, directly or indirectly, with any person whereby it
shall sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property that it intends to use for substantially the same purpose or
purposes as the property being sold or transferred, in each case, whether or not treated as a “sale-leaseback” under GAAP (a “Sale and Lease Back Transaction”); provided, that (x) the IP Sale and Lease Back
Transaction shall be permitted and (y) any other Sale and Lease Back Transaction shall be permitted (a) with respect to property owned (i) by the Borrower or any Domestic Subsidiary that is acquired after the Closing Date so long as such Sale and
Lease Back Transaction is consummated within 270 days of the acquisition of such property or (ii) by any Foreign Subsidiary regardless of when such property was acquired, and (b) with respect to any property owned by the Borrower or any Domestic
Subsidiary, if at the time the lease in connection therewith is entered into, and after giving effect to the entering into of such lease, the Remaining Present Value of such lease, together with Indebtedness outstanding pursuant to Sections 6.01(i)
and the Remaining Present Value of outstanding leases previously entered into under this Section 6.03(b), would not exceed $37 million at any time outstanding. 

SECTION 6.04. Investments, Loans and Advances. Purchase, hold or acquire (including pursuant to any merger, consolidation or
amalgamation with a person that is not a Wholly Owned Subsidiary immediately prior to such merger, consolidation or amalgamation) any Equity Interests, evidences of Indebtedness or other securities of, make or permit to exist any loans or advances
to or Guarantees of the obligations of, or make or permit to exist any investment or any other interest in (each, an “Investment”), any other person, except: 

(a) the Exchange Transactions; 

(b) (i) Investments by the Borrower, Holdings or any Subsidiary in the Equity Interests of the Borrower, Holdings or any
Subsidiary; (ii) intercompany loans from the 

  
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Borrower, Holdings or any Subsidiary to the Borrower, Holdings or any Subsidiary; and (iii) Guarantees by the Borrower or any Subsidiary Loan Party of Indebtedness otherwise expressly permitted
hereunder of the Borrower or any Subsidiary; provided, that the sum of (A) Investments (valued at the time of the making thereof and without giving effect to any write downs or write offs thereof) made after the Closing Date by the Loan
Parties pursuant to clause (i) in Subsidiaries that are not Subsidiary Loan Parties, plus (B) net intercompany loans made after the Closing Date to Subsidiaries that are not Subsidiary Loan Parties pursuant to clause (ii), plus (C)
Guarantees of Indebtedness after the Closing Date of Subsidiaries that are not Subsidiary Loan Parties pursuant to clause (iii), plus (D) any Investments made pursuant to subsection (j) of this Section shall not exceed an aggregate net amount equal
to $8 million (plus any return of capital actually received by the respective investors in respect of Investments theretofore made by them pursuant to this paragraph (b)); provided, further, that (x) intercompany current
liabilities incurred in the ordinary course of business in connection with the cash management operations of the Borrower and the Subsidiaries and (y) intercompany loans, advances or Indebtedness having a term not exceeding 364 days (inclusive of
any roll-overs or extensions of terms) and made in the ordinary course of business consistent with past practice shall not be included in calculating the limitation in this paragraph at any time; 

(c) Permitted Investments and Investments that were Permitted Investments when made; 

(d) Investments arising out of the receipt by the Borrower or any Subsidiary of noncash consideration for the sale of
assets permitted under Section 6.05; 
 (e) loans and advances to officers, directors, employees or consultants of the
Borrower or any Subsidiary (i) in the ordinary course of business not to exceed the greater of $5 million and 0.25% of Consolidated Total Assets as of the end of the fiscal quarter immediately prior to the date of such loan or advance for which
financial statements have been delivered pursuant to Section 5.04 in the aggregate at any time outstanding (calculated without regard to write downs or write offs thereof), (ii) in respect of payroll payments and expenses in the ordinary course of
business and (iii) in connection with such person’s purchase of Equity Interests of Holdings (or any Parent Entity) solely to the extent that the amount of such loans and advances shall be contributed to the Borrower in cash as common equity;

 (f) accounts receivable, security deposits and prepayments arising and trade credit granted in the ordinary course of
business and any assets or securities received in satisfaction or partial satisfaction thereof from financially troubled account debtors to the extent reasonably necessary in order to prevent or limit loss and any prepayments and other credits to
suppliers made in the ordinary course of business; 
 (g) Swap Agreements permitted pursuant to Section 6.01; 

(h) Investments existing on, or contractually committed as of, the Closing Date and set forth on Schedule 6.04 and
any extensions, renewals or reinvestments thereof, so long as the aggregate amount of all Investments pursuant to this clause (h) is 

  
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not increased at any time above the amount of such Investment existing or committed on the Closing Date (other than pursuant to an increase as required by the terms of any such Investment as in
existence on the Closing Date); 
 (i) Investments resulting from pledges and deposits under Sections 6.02(f), (g), (k),
(r), (s), (u) and (dd); 
 (j) other Investments by the Borrower or any Subsidiary in an aggregate amount (valued at the
time of the making thereof, and without giving effect to any write downs or write offs thereof) that, when combined with Investments made pursuant to subsection (b) of this Section and any Restricted Payments made pursuant to Section 6.06(e), shall
not exceed $8 million (plus any returns of capital actually received by the respective investor in respect of investments theretofore made by it pursuant to this paragraph (j)); 

(k) Investments constituting Permitted Business Acquisitions; 

(l) intercompany loans between Foreign Subsidiaries and Guarantees by Foreign Subsidiaries permitted by Section 6.01(m);

 (m) Investments received in connection with the bankruptcy or reorganization of, or settlement of delinquent accounts
and disputes with or judgments against, customers and suppliers, in each case in the ordinary course of business or Investments acquired by the Borrower or any of the Subsidiaries as a result of a foreclosure by the Borrower or any of the
Subsidiaries with respect to any secured Investments or other transfer of title with respect to any secured Investment in default; 

(n) Investments of a Subsidiary acquired after the Closing Date or of an entity merged into, or consolidated or
amalgamated with, the Borrower or merged into or consolidated or amalgamated with a Subsidiary after the Closing Date, in each case, (i) to the extent permitted under this Section 6.04 and, (ii) in the case of any acquisition, merger, consolidation
or amalgamation, in accordance with Section 6.05 and (iii) to the extent that such Investments were not made in contemplation of or in connection with such acquisition, merger, consolidation or amalgamation and were in existence on the date of such
acquisition, merger, consolidation or amalgamation; 
 (o) acquisitions by the Borrower of obligations of one or more
officers or other employees of Holdings, any Parent Entity, the Borrower or the Subsidiaries in connection with such officer’s or employee’s acquisition of Equity Interests of Holdings or any Parent Entity, so long as no cash is actually
advanced by the Borrower or any of the Subsidiaries to such officers or employees in connection with the acquisition of any such obligations; 

(p) Guarantees by the Borrower or any Subsidiary of operating leases (other than Capital Lease Obligations) or of other
obligations that do not constitute Indebtedness, in each case entered into by the Borrower or any Subsidiary in the ordinary course of business; 

  
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 (q) Investments to the extent that payment for such Investments is made with
Equity Interests of Holdings (or any Parent Entity); 
 (r) [Reserved]; 

(s) Investments consisting of the redemption, purchase, repurchase or retirement of any Equity Interests permitted under
Section 6.06; 
 (t) Investments in the ordinary course of business consisting of Uniform Commercial Code Article 3
endorsements for collection or deposit and Uniform Commercial Code Article 4 customary trade arrangements with customers consistent with past practices; 

(u) [Reserved]; 

(v) Guarantees permitted under Section 6.01 (except to the extent such Guarantee is expressly subject to Section 6.04);

 (w) advances in the form of a prepayment of expenses, so long as such expenses are being paid in accordance with
customary trade terms of the Borrower or such Subsidiary; 
 (x) Investments by the Borrower and the Subsidiaries,
including loans and advances to any direct or indirect parent of the Borrower, if the Borrower or any other Subsidiary would otherwise be permitted to make a Restricted Payment in such amount (provided that the amount of any such Investment shall
also be deemed to be a Restricted Payment under the appropriate clause of Section 6.06 for all purposes of this Agreement); 

(y) Investments arising as a result of Permitted Receivables Financings; 

(z) Investments consisting of the licensing or contribution of intellectual property pursuant to joint marketing
arrangements with other persons; 
 (aa) purchases and acquisitions of inventory, supplies, materials and equipment or
purchases of contract rights or licenses or leases of intellectual property in each case in the ordinary course of business, to the extent such purchases and acquisitions constitute Investments; 

(bb) Investments received substantially contemporaneously in exchange for Equity Interests of Holdings or any Parent
Entity; and 
 (cc) Investments in joint ventures not in excess, when combined with the aggregate amount of any
outstanding Indebtedness incurred in connection with joint ventures pursuant to Section 6.01(v) of the greater of $10 million and 1.0% of Consolidated Total Assets as of the end of the fiscal quarter immediately prior to the date of such Investment
for which financial statements have been delivered pursuant to Section 5.04 in the aggregate at any time outstanding (calculated without regard to write-downs or write-offs thereof); provided that if any Investment pursuant to this clause
(cc) 

  
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is made in any person that is not a Subsidiary of the Borrower at the date of the making of such Investment and such person becomes a Subsidiary of the Borrower after such date pursuant to
another Investment the amount of which, when taken together with the amount of the prior Investment, would be permitted under another provision of this Section 6.04, any Investment in such person outstanding under this Section 6.04(cc) shall
thereafter be deemed to have been made pursuant to such other provision and shall cease to have been made pursuant to this clause (cc) for so long as such person continues to be a Subsidiary of the Borrower. 

The amount of Investments that may be made at any time pursuant to Section 6.04(b) or 6.04(j) (such Sections, the “Related Sections”) may, at
the election of the Borrower, be increased by the amount of Investments that could be made at such time under the other Related Section; provided that the amount of each such increase in respect of one Related Section shall be treated as having been
used under the other Related Section. 
 SECTION 6.05. Mergers, Consolidations, Sales of Assets and Acquisitions. Merge
into, or consolidate or amalgamate with any other person, or permit any other person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one transaction or in a series of transactions) all or any part of its
assets (whether now owned or hereafter acquired), or issue, sell, transfer or otherwise dispose of any Equity Interests of the Borrower or any Subsidiary, or purchase, lease or otherwise acquire (in one transaction or a series of transactions) all
or any substantial part of the assets of any other person or any division or business unit of any other person, except that this Section shall not prohibit: 

(a) (i) the purchase and sale of inventory in the ordinary course of business by the Borrower or any Subsidiary, (ii) the
acquisition or lease (pursuant to an operating lease) of any other asset in the ordinary course of business by the Borrower or any Subsidiary, (iii) the sale of surplus, obsolete, damaged or worn out equipment or other property in the ordinary
course of business by the Borrower or any Subsidiary or (iv) the sale of Permitted Investments in the ordinary course of business; 

(b) if at the time thereof and immediately after giving effect thereto no Event of Default shall have occurred and be
continuing or would result therefrom, (i) the merger, consolidation or amalgamation of any Subsidiary of the Borrower into or with the Borrower in a transaction in which the Borrower is the survivor, (ii) the merger, consolidation or amalgamation of
any Subsidiary into or with any Subsidiary that is a Loan Party in a transaction in which the surviving or resulting entity is a Subsidiary Loan Party and, in the case of each of clauses (i) and (ii), no person other than the Borrower or a
Subsidiary Loan Party receives any consideration, (iii) the merger, consolidation or amalgamation of any Subsidiary that is not a Subsidiary Loan Party into or with any other Subsidiary that is not a Subsidiary Loan Party, (iv) the liquidation or
dissolution or change in form of entity of any Subsidiary (other than the Borrower) if the Borrower determines in good faith that such liquidation, dissolution or change in form is in the best interests of the Borrower and is not materially
disadvantageous to the Lenders or (v) any Subsidiary may merge, consolidate or amalgamate into or with any other person in order to effect an Investment permitted pursuant to Section 6.04 so long as the continuing or surviving person shall be a
Subsidiary, which shall be a Loan Party if the merging, consolidating or amalgamating Subsidiary was a Loan Party and which together with each of the Subsidiaries shall have complied with the requirements of Section 5.10; 

  
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 (c) sales, transfers, leases or other dispositions to the Borrower or a
Subsidiary (upon voluntary liquidation or otherwise); provided, that any sales, transfers, leases or other dispositions by a Loan Party to a Subsidiary that is not a Subsidiary Loan Party in reliance on this paragraph (c) shall be made in
compliance with Section 6.07 and shall be included in Section 6.05(h); 
 (d) transfers by any Loan Party of Equity
Interests in a “first tier” Foreign Subsidiary or “first tier” Qualified CFC Holding Company to a “first tier” Foreign Subsidiary or “first tier” Qualified CFC Holding Company; provided, that (i) if the
Equity Interests of the transferee have not already been pledged pursuant to a Foreign Pledge Agreement, the pledge of the Equity Interests of such “first tier” Foreign Subsidiary or “first tier” Qualified CFC Holding Company
shall be made in accordance with Section 5.10(e) hereof and (ii) the pledge of any Equity Interests so transferred shall be released by the Collateral Agent upon the consummation of such transfer; 

(e) Sale and Lease Back Transactions permitted by Section 6.03; 

(f) Investments permitted by Section 6.04, Permitted Liens, Restricted Payments permitted by Section 6.06; 

(g) the sale of defaulted receivables in the ordinary course of business and not as part of an accounts receivables
financing transaction; 
 (h) sales, transfers, leases, licenses or other dispositions of assets not otherwise permitted
by this Section 6.05 (or required to be included in this clause (h) pursuant to Section 6.05(c)); provided, that (i) the aggregate gross proceeds (including noncash proceeds) of any or all assets, sold, transferred, leased or otherwise
disposed of in reliance under this paragraph (h) shall not exceed, in any fiscal year of the Borrower, $10 million and (ii) no Default or Event of Default exists or would result therefrom; and provided, further, that the proceeds of
any bulk sales of Inventory (which, for the avoidance of doubt, shall not include sales of Inventory in connection with any individual store location closures) not in the ordinary course of business shall be applied (x) first, to repay the
outstanding principal balance of the Existing Revolving Credit Facility, and (y) second, to the extent of any such proceeds remaining, repay the outstanding principal balance of any ABL Facility Borrowings, in each case (with any such repayment
permanently reducing the ABL Facility Commitment and the Revolving Facility Commitments by the amount of such prepayment, i.e., a $5 million repayment would reduce the ABL Facility Commitment by $5 million and the Revolving Facility Commitment by $5
million); 
 (i) Permitted Business Acquisitions (including any merger, consolidation or amalgamation in order to effect
a Permitted Business Acquisition); provided, that following any such merger, consolidation or amalgamation (i) involving the Borrower, the Borrower is the surviving corporation, (ii) involving a Domestic Subsidiary, the


  
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surviving or resulting entity shall be a Subsidiary Loan Party that is a Wholly Owned Subsidiary and (iii) involving a Foreign Subsidiary, the surviving or resulting entity shall be a Wholly
Owned Subsidiary; 
 (j) leases, licenses, or subleases or sublicenses of any real or personal property in the ordinary
course of business; 
 (k) sales, leases or other dispositions of inventory of the Borrower and the Subsidiaries
determined by the management of the Borrower to be no longer useful or necessary in the operation of the business of the Borrower or any of the Subsidiaries; 

(l) Permitted Business Acquisitions and purchases of assets useful in the business of the Borrower and its Subsidiaries
made within 18 months following any Asset Sale in an amount not to exceed the proceeds from such Asset Sale; 
 (m) the
purchase and sale or other transfer (including by capital contribution) of Receivables Assets pursuant to Permitted Receivables Financings; 

(n) [Reserved]; and 

(o) any disposition of Equity Interests of a Subsidiary pursuant to an agreement or other obligation with or to a person
(other than the Borrower and the Subsidiaries) from whom such Subsidiary was acquired or from whom such Subsidiary acquired its business and assets (having been newly formed in connection with such acquisition), made as part of such acquisition and
in each case comprising all or a portion of the consideration in respect of such sale or acquisition; provided, that the net investment in the Equity Interests of the Subsidiary would be permitted by Section 6.04 if made on the date of such
disposition. 
 Notwithstanding anything to the contrary contained in Section 6.05 above, (i) no sale, transfer or other disposition of assets shall be
permitted by this Section 6.05 (other than sales, transfers, leases, licenses or other dispositions to Loan Parties pursuant to paragraph (c) hereof) unless such disposition is for fair market value, and (ii) no sale, transfer or other disposition
of assets shall be permitted by paragraph (a) or (e) of this Section 6.05 unless such disposition is for at least 75% cash consideration; provided that the provisions of clause (ii) shall not apply to any individual transaction or series of
related transactions involving assets with a fair market value of less than $10 million or to other transactions involving assets with a fair market value of not more than $25 million in the aggregate for all such transactions during the term of
this Agreement. To the extent any Collateral is disposed of in a transaction expressly permitted by this Section 6.05 to any person other than Holdings, the Borrower or any Subsidiary, such Collateral shall be sold free and clear of the Liens
created by the Loan Documents, and the Administrative Agent shall take, and shall be authorized by each Lender to take, any actions reasonably requested by the Borrower in order to evidence the foregoing. 

SECTION 6.06. Restricted Payments. Declare or pay any dividend or make any other distribution (by reduction of capital or
otherwise), whether in cash, property, securities or a combination thereof, with respect to any of its Equity Interests (other than dividends and distributions on Equity Interests payable solely by the issuance of additional Equity Interests


  
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(other than Disqualified Stock) of the person paying such dividends or distributions) or directly or indirectly redeem, purchase, retire or otherwise acquire for value (or permit any Subsidiary
to purchase or acquire) any of its Equity Interests or set aside any amount for any such purpose (other than through the issuance of additional Equity Interests (other than Disqualified Stock) of the person redeeming, purchasing, retiring or
acquiring such shares) (the foregoing, “Restricted Payments”); provided, however, that: 

(a) any Subsidiary of the Borrower may make Restricted Payments to the Borrower or to any Wholly Owned Subsidiary of the
Borrower (or, in the case of non Wholly Owned Subsidiaries, to the Borrower or any Subsidiary that is a direct or indirect parent of such Subsidiary and to each other owner of Equity Interests of such Subsidiary on a pro rata basis (or more
favorable basis from the perspective of the Borrower or such Subsidiary) based on their relative ownership interests so long as any repurchase of its Equity Interests from a person that is not the Borrower or a Subsidiary is permitted under Section
6.04); 
 (b) (x) the Borrower may make Restricted Payments to Holdings in respect of (i) overhead, legal, accounting
and other professional fees and expenses of Holdings or any Parent Entity, (ii) fees and expenses related to any public offering or private placement of debt or equity securities of Holdings or any Parent Entity whether or not consummated, (iii)
franchise taxes and other fees, taxes and expenses in connection with the maintenance of its existence and its (or any Parent Entity’s indirect) ownership of the Borrower, (iv) payments permitted by Section 6.07(b), and (v) customary salary,
bonus and other benefits payable to, and indemnities provided on behalf of, officers and employees of Holdings or any Parent Entity, in each case in order to permit Holdings or any Parent Entity to make such payments; provided, that in the
case of clauses (i), (ii) and (iii), the amount of such Restricted Payments shall not exceed the portion of any amounts referred to in such clauses (i), (ii) and (iii) that are allocable to the Borrower and its Subsidiaries (which shall be 100% for
so long as Holdings or such Parent Entity, as the case may be, owns no assets other than the Equity Interests in the Borrower, Holdings, or another Parent Entity) and (y) the Borrower may make Restricted Payments to any direct or indirect parent
company of the Borrower that files a consolidated U.S. federal tax return that includes the Borrower and any of its Subsidiaries, in each case in an amount not to exceed the amount that the Borrower and such Subsidiaries would have been required to
pay in respect of federal, state or local taxes (as the case may be) in respect of such year if the Borrower and such Subsidiaries paid such taxes directly as a stand-alone taxpayer (or stand-alone group); 

(c) the Borrower may make Restricted Payments to Holdings the proceeds of which are used to purchase or redeem the Equity
Interests of Holdings or any Parent Entity (including related stock appreciation rights or similar securities) held by then present or former directors, consultants, officers or employees of Holdings, the Borrower or any of the Subsidiaries or by
any Plan or any shareholders’ agreement then in effect upon such person’s death, disability, retirement or termination of employment or under the terms of any such Plan or any other agreement under which such shares of stock or related
rights were issued; provided, that the aggregate amount of such purchases or redemptions under this paragraph (c) shall not exceed in any fiscal year $10 million, plus 

  
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(x) the amount of net proceeds contributed to the Borrower that were received by Holdings or any Parent Entity during such calendar year from sales of Equity Interests of Holdings or any Parent
Entity of Holdings to directors, consultants, officers or employees of Holdings, any Parent Entity, the Borrower or any Subsidiary in connection with permitted employee compensation and incentive arrangements, and (y) the amount of net proceeds of
any key man life insurance policies received during such calendar year; and provided, further, that cancellation of Indebtedness owing to the Borrower or any Subsidiary from members of management of Holdings, any Parent Entity, the
Borrower or the Subsidiaries in connection with a repurchase of Equity Interests of Holdings or any Parent Entity will not be deemed to constitute a Restricted Payment for purposes of this Section 6.06; 

(d) noncash repurchases of Equity Interests deemed to occur upon exercise of stock options if such Equity Interests
represent a portion of the exercise price of such options; 
 (e) So long as no Event of Default is continuing and, as
of the last day of the most recent fiscal quarter and after giving effect to such Restricted Payment, the Total Net Secured Leverage Ratio does not exceed 6.75 to 1.00, the Borrower and Holdings may make Restricted Payments in an aggregate amount,
together with any Investments made pursuant 6.04(j), not to exceed $6 million; 
 (f) the Borrower may make Restricted
Payments on or following the Closing Date necessary to effect the transactions contemplated by the Exchange Transaction Documents; 

(g) the Borrower may make Restricted Payments to allow Holdings or any Parent Entity to make payments in cash, in lieu of
the issuance of fractional shares, upon the exercise of warrants or upon the conversion or exchange of Equity Interests of any such person; 

(h) after a Qualified IPO, the Borrower may make Restricted Payments in an amount equal to 6.0% per annum of the net
proceeds received by or contributed to the Borrower from any public offering of Equity Interests of the Borrower, Holdings or any Parent Entity; 

(i) [Reserved]; and 

(j) the Borrower may make any payment otherwise permitted under Section 6.07(b)(xiv) to the extent such payment is
considered a Restricted Payment. 
 SECTION 6.07. Transactions with Affiliates. 

(a) Sell or transfer any property or assets to, or purchase or acquire any property or assets from, or otherwise engage in any other
transaction with, any of its Affiliates or any known direct or indirect holder of 10% or more of any class of Equity Interests of Holdings (prior to a Borrower Qualified IPO) or the Borrower in a transaction involving aggregate consideration in
excess of $5 million, unless such transaction is (i) otherwise permitted (or 

  
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required) under this Agreement or (ii) upon terms no less favorable to the Borrower or such Subsidiary, as applicable, than would be obtained in a comparable arm’s length transaction with a
person that is not an Affiliate. 
 (b) The foregoing paragraph (a) shall not prohibit, to the extent otherwise permitted under this
Agreement, 
 (i) any issuance of securities, or other payments, awards or grants in cash, securities or otherwise
pursuant to, or the funding of, employment arrangements, equity purchase agreements, stock options and stock ownership plans approved by the Board of Directors of Holdings or of the Borrower, 

(ii) loans or advances to employees or consultants of Holdings (or any Parent Entity), the Borrower or any of the
Subsidiaries in accordance with Section 6.04(e), 
 (iii) transactions among the Borrower or any Subsidiary or any
entity that becomes a Subsidiary as a result of such transaction (including via merger, consolidation or amalgamation in which a Subsidiary is the surviving entity), 

(iv) the payment of fees, reasonable out-of-pocket costs and indemnities to directors, officers, consultants and employees
of Holdings, any Parent Entity, the Borrower and the Subsidiaries in the ordinary course of business (limited, in the case of any Parent Entity, to the portion of such fees and expenses that are allocable to the Borrower and the Subsidiaries (which
shall be 100% for so long as Holdings or such Parent Entity, as the case may be, owns no assets other than the Equity Interests in the Borrower, Holdings or another Parent Entity and assets incidental to the ownership of the Borrower and its
Subsidiaries)), 
 (v) subject to the limitations set forth in Section 6.07(b)(xiv), if applicable, transactions
pursuant to the Exchange Transaction Documents and permitted transactions, agreements and arrangements in existence on or following the Closing Date and set forth on Schedule 6.07 or any amendment thereto to the extent such amendment is not
adverse to the Lenders in any material respect, 
 (vi) (A) any employment agreements entered into by the Borrower or
any of the Subsidiaries in the ordinary course of business, (B) any subscription agreement or similar agreement pertaining to the repurchase of Equity Interests pursuant to put/call rights or similar rights with employees, officers or directors, and
(C) any employee compensation, benefit plan or arrangement, any health, disability or similar insurance plan which covers employees, and any reasonable employment contract and transactions pursuant thereto, 

(vii) Restricted Payments permitted under Section 6.06, including payments to Holdings (and any Parent Entity), 

(viii) any purchase by Holdings of the Equity Interests of the Borrower; provided, that any Equity Interests of the
Borrower purchased by Holdings shall be pledged to the Collateral Agent on behalf of the Lenders pursuant to the Collateral Agreement, 

  
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 (ix) payments by the Borrower or any of the Subsidiaries to the Fund or any
Fund Affiliate made for any financial advisory, financing, underwriting or placement services or in respect of other investment banking activities, including in connection with acquisitions or divestitures, which payments are approved by the
majority of the Board of Directors of the Borrower, or a majority of the Disinterested Directors of the Borrower, in good faith, 

(x) transactions with Wholly Owned Subsidiaries for the purchase or sale of goods, products, parts and services entered
into in the ordinary course of business in a manner consistent with past practice, 
 (xi) any transaction in respect of
which the Borrower delivers to the Administrative Agent (for delivery to the Lenders) a letter addressed to the Board of Directors of the Borrower from an accounting, appraisal or investment banking firm, in each case of nationally recognized
standing that is (A) in the good faith determination of the Borrower qualified to render such letter and (B) reasonably satisfactory to the Administrative Agent, which letter states that such transaction is on terms that are no less favorable to the
Borrower or such Subsidiary, as applicable, than would be obtained in a comparable arm’s length transaction with a person that is not an Affiliate, 

(xii) subject to paragraph (xiv) below, the payment of all fees, expenses, bonuses and awards related to the transactions
contemplated by the Exchange Transaction Documents, 
 (xiii) transactions with joint ventures for the purchase or sale
of goods, equipment and services entered into in the ordinary course of business and in a manner consistent with past practice, 

(xiv) any agreement to pay, and the payment of, monitoring, consulting, management, transaction, advisory or similar fees
payable to the Fund or any Fund Affiliate (A) in an aggregate amount in any fiscal year not to exceed the sum of (1) the greater of $6.0 million and 2.0% of EBITDA for such fiscal year, plus reasonable out of pocket costs and expenses in connection
therewith and unpaid amounts accrued for prior periods; plus (2) any deferred fees (to the extent such fees were within such amount in clause (A) (1) above originally), plus (B) 2.0% of the value of transactions with respect to which the Fund or any
Fund Affiliate provides any transaction, advisory or other services, plus (C) so long as no Event of Default has occurred and is continuing, in the event of a Qualified IPO, the present value of all future amounts payable pursuant to any agreement
referred to in clause (A)(1) above in connection with the termination of such agreement with the Fund and its Fund Affiliates (the “Fund Termination Fee”); provided, that if any such payment pursuant to clause (C) is not
permitted to be paid as a result of an Event of Default, such payment shall accrue and may be payable when no Events of Default are continuing to the extent that no further Event of Default would result therefrom, 

  
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 (xv) the issuance, sale, transfer of Equity Interests of the Borrower to
Holdings and capital contributions by Holdings to the Borrower, 
 (xvi) following a Borrower Qualified IPO, the
issuance of Equity Interests (other than Disqualified Equity Interests) of the Borrower to the management of the Borrower or any Subsidiary, 

(xvii) payments by Holdings (and any Parent Entity), the Borrower and the Subsidiaries pursuant to tax sharing agreements
among Holdings (and any such Parent Entity), the Borrower and the Subsidiaries on customary terms that require each party to make payments when such taxes are due or refunds received of amounts equal to the income tax liabilities and refunds
generated by each such party calculated on a separate return basis and payments to the party generating tax benefits and credits of amounts equal to the value of such tax benefits and credits made available to the group by such party, 

(xviii) transactions pursuant to any Permitted Receivables Financing, 

(xix) payments or loans (or cancellation of loans) to employees or consultants that are (i) approved by a majority of the
Disinterested Directors of the Board of Directors of Holdings or the Borrower in good faith, (ii) made in compliance with applicable law and (iii) otherwise permitted under this Agreement, 

(xx) transactions with customers, clients, suppliers, or purchasers or sellers of goods or services, in each case in the
ordinary course of business and otherwise in compliance with the terms of this Agreement that are fair to the Borrower or the Subsidiaries, 

(xxi) transactions between the Borrower or any of the Subsidiaries and any person, a director of which is also a director
of the Borrower or any direct or indirect parent company of the Borrower, provided, however, that (A) such director abstains from voting as a director of the Borrower or such direct or indirect parent company, as the case may be, on
any matter involving such other person and (B) such person is not an Affiliate of the Borrower for any reason other than such director’s acting in such capacity, 

(xxii) transactions permitted by, and complying with, the provisions of (x) Section 6.04(b) and Section 6.05(b) (other
than Section 6.05(b)(v)) or (y) Section 6.05(d), or 
 (xxiii) intercompany transactions undertaken in good faith (as
certified by a Responsible Officer of the Borrower) for the purpose of improving the consolidated tax efficiency of the Borrower and the Subsidiaries and not for the purpose of circumventing any covenant set forth herein. 

SECTION 6.08. Business of the Borrower and the Subsidiaries. Notwithstanding any other provisions hereof, engage at any time
in any business or business activity other than any business or business activity conducted by any of them on the Closing Date and any business or business activities incidental or related thereto, or any business or


  
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activity that is reasonably similar or complementary thereto or a reasonable extension, development or expansion thereof or ancillary thereto, and in the case of a Special Purpose Receivables
Subsidiary, Permitted Receivables Financings. 
 SECTION 6.09. Limitation on Payments and Modifications of Indebtedness;
Modifications of Certificate of Incorporation, By Laws and Certain Other Agreements; etc. 
 (a) Amend or modify in any manner
materially adverse to the Lenders, or grant any waiver or release under or terminate in any manner (if such granting or termination shall be materially adverse to the Lenders), the articles or certificate of incorporation, by laws, limited liability
company operating agreement, partnership agreement or other organizational documents of the Borrower or any of the Subsidiaries or the Merger Agreement. 

(b) (i) Make, or agree or offer to pay or make, directly or indirectly, any payment or other distribution (whether in cash, securities or
other property) of or in respect of principal of or interest on the loans under the Senior Subordinated Notes or any Permitted Refinancing Indebtedness in respect of the foregoing or any preferred Equity Interests or any Disqualified Stock
(“Junior Financing”), or any payment or other distribution (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation
or termination in respect of any Junior Financing except for (A) Refinancings permitted by Section 6.01(k) or (q) (other than Refinancings of Junior Financing in exchange for or with the proceeds of Additional Obligations), (B) payments of regularly
scheduled interest, and, to the extent this Agreement is then in effect, principal on the scheduled maturity date of any Junior Financing, (C) payments or distributions in respect of all or any portion of the Junior Financing with the proceeds
contributed to the Borrower by Holdings from the issuance, sale or exchange by Holdings (or any direct or indirect parent of Holdings) of Equity Interests made within eighteen months prior thereto, (D) the conversion of any Junior Financing to
Equity Interests of Holdings or any of its direct or indirect parents; and (E) any such payment, redemption, repurchase, defeasance, acquisition or retirement or other distribution in respect of the Senior Subordinated Notes, or any Refinancing
thereof, in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of such payment, redemption, repurchase, defeasance, acquisition, retirement or other
distribution, except in respect of Senior Subordinated Notes held by the Borrower or its Affiliates; or 
 (ii) Amend or
modify, or permit the amendment or modification of, any provision of Junior Financing, any Permitted Receivables Document, or any agreement, document or instrument evidencing or relating thereto, other than amendments or modifications that (A) are
not in any manner materially adverse to Lenders and that do not affect the subordination or payment provisions thereof (if any) in a manner adverse to the Lenders or (B) otherwise comply with the definition of “Permitted Refinancing
Indebtedness”. 

  
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 (c) Permit any Subsidiary to enter into any agreement or instrument that by its terms
restricts (i) the payment of dividends or distributions or the making of cash advances to the Borrower or any Subsidiary that is a direct or indirect parent of such Subsidiary or (ii) the granting of Liens by the Borrower or such Subsidiary pursuant
to the Security Documents, in each case other than those arising under any Loan Document, except, in each case, restrictions existing by reason of: 

(A) restrictions imposed by applicable law; 

(B) contractual encumbrances or restrictions in effect on the Closing Date under Indebtedness existing on the Closing Date
and set forth on Schedule 6.01, the Senior Subordinated Notes or any agreements related to any Permitted Refinancing Indebtedness in respect of any such Indebtedness that does not expand the scope of any such encumbrance or restriction; 

(C) any restriction on a Subsidiary imposed pursuant to an agreement entered into for the sale or disposition of the
Equity Interests or assets of a Subsidiary; 
 (D) customary provisions in joint venture agreements, similar agreements
applicable to joint ventures and other similar agreements entered into in the ordinary course of business; 
 (E) any
restrictions imposed by any agreement relating to secured Indebtedness permitted by this Agreement to the extent that such restrictions apply only to the property or assets securing such Indebtedness; 

(F) any restrictions imposed by any agreement relating to Indebtedness incurred pursuant to Sections 6.01(j) or 6.01(q) or
Permitted Refinancing Indebtedness in respect thereof, to the extent such restrictions are not more restrictive, taken as a whole, than the restrictions contained in the Senior Subordinated Note Documents; 

(G) customary provisions contained in leases or licenses of intellectual property and other similar agreements entered
into in the ordinary course of business; 
 (H) customary provisions restricting subletting or assignment of any lease
governing a leasehold interest; 
 (I) customary provisions restricting assignment of any agreement entered into in the
ordinary course of business; 
 (J) customary restrictions and conditions contained in any agreement relating to the
sale, transfer, lease or other disposition of any asset permitted under Section 6.05 pending the consummation of such sale, transfer, lease or other disposition; 

(K) customary restrictions and conditions contained in the document relating to any Lien, so long as (1) such Lien is a
Permitted Lien and such restrictions or conditions relate only to the specific asset subject to such Lien, and (2) such restrictions and conditions are not created for the purpose of avoiding the restrictions imposed by this Section 6.09; 

(L) customary net worth provisions contained in Real Property leases entered into by Subsidiaries of the Borrower, so long
as the Borrower has determined in good faith that such net worth provisions would not reasonably be expected to impair the ability of the Borrower and its Subsidiaries to meet their ongoing obligations; 

  
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 (M) any agreement in effect at the time such subsidiary becomes a
Subsidiary, so long as such agreement was not entered into in contemplation of such person becoming a Subsidiary; 

(N) restrictions in agreements representing Indebtedness permitted under Section 6.01 of a Subsidiary of the Borrower that
is not a Subsidiary Loan Party; 
 (O) customary restrictions on leases, subleases, licenses or Equity Interests or
asset sale agreements otherwise permitted hereby as long as such restrictions relate to the Equity Interests and assets subject thereto; 

(P) restrictions on cash or other deposits imposed by customers under contracts entered into in the ordinary course of
business; 
 (Q) restrictions contained in any Permitted Receivables Document with respect to any Special Purpose
Receivables Subsidiary; or 
 (R) any encumbrances or restrictions of the type referred to in Sections 6.09(c)(i) and
6.09(c)(ii) above imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations referred to in clauses (A) through (Q) above; provided
that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith judgment of the Borrower, no more restrictive with respect to such dividend and other payment
restrictions than those contained in the dividend or other payment restrictions prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing. 

SECTION 6.10. Qualified CFC Holding Companies. Permit any Qualified CFC Holding Company to (a) create, incur or assume any
Indebtedness or other liability, or create, incur, assume or suffer to exist any Lien on, or sell, transfer or otherwise dispose of, other than in a transaction permitted under Section 6.05, any of the Equity Interests of a Foreign Subsidiary held
by such Qualified CFC Holding Company, or any other assets, or (b) engage in any business or activity or acquire or hold any assets other than the Equity Interests of one or more Foreign Subsidiaries of the Borrower and/or one or more other
Qualified CFC Holding Companies and the receipt and distribution of dividends and distributions in respect thereof. 
 SECTION
6.11. Total Net Secured Leverage Ratio. Permit the Total Net Secured Leverage Ratio to exceed the Required Maintenance Level (as defined below) as of (i) the last day of any fiscal quarter when the Revolving Facility Credit Exposure
outstanding exceeds $15 million as of such day, and (ii) on the date of any Borrowing or issuance, amendment, extension or renewal of a Letter of Credit, other than an ABL Revolving Borrowing or an ABL Revolving L/C Rebalancing (each such date
hereinafter being referred to as an “Interim Testing Date”) if, after giving effect thereto the Revolving Facility Credit Exposure outstanding shall exceed $15 million; provided, however, that in the case of clause (ii), the Total


  
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Net Secured Leverage Ratio shall be calculated as of the last day of the most recent fiscal quarter for which financial statements have been or were required to be delivered pursuant to Section
5.04(a) or (b) on or prior to such Interim Testing Date but for purposes of such calculation the amount of Senior Secured Debt as of the last day of such fiscal quarter shall be adjusted by removing all Revolving Facility Credit Exposure outstanding
at such last day of such fiscal quarter (to the extent otherwise included in Senior Secured Debt as of the last day of such fiscal quarter) and adding in the Revolving Facility Credit Exposure outstanding on such Interim Testing Date (after giving
effect to any Borrowing on such Interim Testing Date) to the extent such Revolving Facility Credit Exposure would otherwise be included in Senior Secured Debt as of such date. For the avoidance of doubt, in the case of clause (ii), the Total Net
Secured Leverage Ratio shall be calculated without including any proceeds of any Borrowing on the applicable Interim Testing Date in Unrestricted Cash. 

For purposes of this Section 6.11, “Required Maintenance Level” shall mean, on the last day of any fiscal quarter of the Borrower, the level
set forth opposite such fiscal quarter in the table set forth below: 
  

			
	Fiscal Quarter	  	Required Maintenance Level
	 Fiscal quarters prior to the first fiscal quarter of 2018
	  	8.95 to 1.00
		
	 Fiscal quarters commencing with the first fiscal quarter of 2018
	  	8.00 to 1.00

 For the avoidance of doubt, the Administrative Agent and the Lenders confirm that any failure to comply with the Required
Maintenance Level as in effect prior to the Third Amendment Effective Date has been waived. 
 SECTION 6.12. Fixed Charge Coverage
Ratio. Permit the Fixed Coverage Ratio to be less than 1.00:1.00 as of (i) the last day of any fiscal quarter when the Revolving Facility Credit Exposure outstanding exceeds $15 million as of such day, and (ii) on the date of any Borrowing
or issuance, amendment, extension or renewal of a Letter of Credit (other than an ABL Rebalancing Borrowing or an ABL Revolving L/C Rebalancing) if, after giving effect thereto the Revolving Facility Credit Exposure outstanding shall exceed $15
million. 
 ARTICLE VI A  

Holdings Covenants 

Holdings (prior to a Borrower Qualified IPO) covenants and agrees with each Lender that, so long as this Agreement shall remain in effect
(other than in respect of contingent indemnification and expense reimbursement obligations for which no claim has been made) and 

  
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until the Commitments have been terminated and the principal of and interest on each Loan, all Fees and all other expenses or amounts payable under any Loan Document have been paid in full and
all Letters of Credit have been canceled or have expired and all amounts drawn or paid thereunder have been reimbursed in full, unless the Required Lenders shall otherwise consent in writing, (a) Holdings will not create, incur, assume or permit to
exist any Lien (other than Liens of a type described in Section 6.02(d), (e) or (k)) on any of the Equity Interests issued by the Borrower other than the Liens created under the Loan Documents, (b) Holdings shall do or cause to be done all things
necessary to preserve, renew and keep in full force and effect its legal existence; provided, that so long as no Default exists or would result therefrom, Holdings may merge with any other person and (c) Holdings shall at all times own
directly 100% of the Equity Interests of the Borrower and shall not sell, transfer or otherwise dispose of the Equity Interests in the Borrower and (d) Holdings will maintain its passive holding company status. 

ARTICLE VII  
 Events of
Default 
 SECTION 7.01. Events of Default. In case of the happening of any of the following events (each, an “Event
of Default”): 
 (a) any representation or warranty made or deemed made by Holdings, the Borrower or any other
Loan Party herein or in any other Loan Document or any certificate or document delivered pursuant hereto or thereto shall prove to have been false or misleading in any material respect when so made or deemed made; 

(b) default shall be made in the payment of any principal of any Loan when and as the same shall become due and payable,
whether at the due date thereof or at a date fixed for prepayment thereof or by acceleration thereof or otherwise; 

(c) default shall be made in the payment of any interest on any Loan or the reimbursement with respect to any L/C
Disbursement or in the payment of any Fee or any other amount (other than an amount referred to in (b) above) due under any Loan Document, when and as the same shall become due and payable, and such default shall continue unremedied for a period of
five Business Days; 
 (d) default shall be made in the due observance or performance by Holdings, the Borrower or any
of the Subsidiaries of any covenant, condition or agreement contained in Section 2.05(c), 5.01(a), 5.05(a) or 5.08 or in Article VI or Article VIA; 

(e) default shall be made in the due observance or performance by Holdings, the Borrower or any of the Subsidiaries of (i)
any covenant, condition or agreement contained in Section 5.05 (l), (m) or (n), and such default shall continue unremedied for a period of 3 days, or (ii) any covenant, condition or agreement contained in any Loan Document (other than those
specified in paragraphs (b), (c) and (d) and clause (i) above) and such default shall continue unremedied for a period of 30 days (or 60 days if such default results solely from a Foreign Subsidiary’s failure to duly observe or perform any such
covenant, condition or agreement) after notice thereof from the Administrative Agent to the Borrower; 

  
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 (f) (i) any event or condition occurs that (A) results in any Material
Indebtedness becoming due prior to its scheduled maturity or (B) enables or permits (with all applicable grace periods having expired) the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf shall cause such
Material Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity as a result of an event of default thereunder; or (ii) the Borrower or any of the Subsidiaries shall
fail to pay the principal of any Material Indebtedness at the stated final maturity thereof; provided, that this clause (f) shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property
or assets securing such Indebtedness if such sale or transfer is permitted hereunder and under the documents providing for such Indebtedness; and provided, further, that, in the absence of an exercise of remedies, this clause (f) shall
not apply to a default under the Existing European Revolving Credit Agreement for as long as a forbearance agreement between the borrower and lender thereunder regarding such default and prohibiting the exercise of remedies is in effect; 

(g) there shall have occurred a Change in Control; 

(h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed in a court of competent
jurisdiction seeking (i) relief in respect of Holdings (prior to a Borrower Qualified IPO), the Borrower or any of the Subsidiaries, or of a substantial part of the property or assets of Holdings (prior to a Borrower Qualified IPO), the Borrower or
any Subsidiary, under Title 11 of the United States Code, as now constituted or hereafter amended, or any other federal, state or foreign bankruptcy, insolvency, receivership or similar law, (ii) the appointment of a receiver, trustee, custodian,
sequestrator, conservator or similar official for Holdings (prior to a Borrower Qualified IPO), the Borrower or any of the Subsidiaries or for a substantial part of the property or assets of Holdings (prior to a Borrower Qualified IPO), the Borrower
or any of the Subsidiaries or (iii) the winding up or liquidation of Holdings (prior to a Borrower Qualified IPO), the Borrower or any Subsidiary (except, in the case of any Subsidiary, in a transaction permitted by Section 6.05); and such
proceeding or petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; 

(i) Holdings (prior to a Borrower Qualified IPO), the Borrower or any Subsidiary shall (i) voluntarily commence any
proceeding or file any petition seeking relief under Title 11 of the United States Code, as now constituted or hereafter amended, or any other federal, state or foreign bankruptcy, insolvency, receivership or similar law, (ii) consent to the
institution of, or fail to contest in a timely and appropriate manner, any proceeding or the filing of any petition described in paragraph (h) above, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator,
conservator or similar official for Holdings (prior to a Borrower Qualified IPO), the Borrower or any of the Subsidiaries or for a substantial part of the property or assets of Holdings (prior to a Borrower Qualified IPO), the Borrower or any
Subsidiary, (iv) file an answer admitting 

  
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the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) become unable or admit in writing its inability
or fail generally to pay its debts as they become due; 
 (j) the failure by Holdings (prior to a Borrower Qualified
IPO), the Borrower or any Subsidiary to pay one or more final judgments aggregating in excess of $5 million (to the extent not covered by insurance), which judgments are not discharged or effectively waived or stayed for a period of 45 consecutive
days, or any action shall be legally taken by a judgment creditor to levy upon assets or properties of Holdings (prior to a Borrower Qualified IPO), the Borrower or any Subsidiary to enforce any such judgment; 

(k) (i) a trustee shall be appointed by a United States district court to administer any Plan, (ii) an ERISA Event or
ERISA Events shall have occurred with respect to any Plan or Multiemployer Plan, (iii) the PBGC shall institute proceedings (including giving notice of intent thereof) to terminate any Plan or Plans, (iv) Holdings (prior to a Borrower Qualified
IPO), the Borrower or any Subsidiary or any ERISA Affiliate shall have been notified by the sponsor of a Multiemployer Plan that such Multiemployer Plan is in reorganization or is being terminated, within the meaning of Title IV of ERISA (or, after
the effectiveness of Title II of the Pension Act, that it is in endangered or critical status, within the meaning of Section 305 of ERISA) or (v) Holdings (prior to a Borrower Qualified IPO), the Borrower or any Subsidiary or any ERISA Affiliate
shall engage in any “prohibited transaction” (as defined in Section 406 of ERISA or Section 4975 of the Code) involving any Plan; and in each case in clauses (i) through (v) above, such event or condition, together with all other such
events or conditions, if any, would reasonably be expected to have a Material Adverse Effect; or 
 (l) (i) any material
provision of any Loan Document shall for any reason be asserted in writing by Holdings (prior to a Borrower Qualified IPO), the Borrower or any Subsidiary not to be a legal, valid and binding obligation of any party thereto, (ii) any security
interest purported to be created by any Security Document and to extend to assets that are not immaterial to Holdings (prior to a Borrower Qualified IPO), the Borrower and the Subsidiaries on a consolidated basis shall cease to be, or shall be
asserted in writing by the Borrower or any other Loan Party not to be, a valid and perfected security interest (perfected as or having the priority required by this Agreement or the relevant Security Document and subject to such limitations and
restrictions as are set forth herein and therein) in the securities, assets or properties covered thereby, except to the extent that any such loss of perfection or priority results from the limitations of foreign laws, rules and regulations as they
apply to pledges of Equity Interests in Foreign Subsidiaries or the application thereof, or from the failure of the Collateral Agent to maintain possession of certificates actually delivered to it representing securities pledged under the Collateral
Agreement or to file Uniform Commercial Code continuation statements or take the actions described on Schedule 3.04 and except to the extent that such loss is covered by a lender’s title insurance policy and the Collateral Agent shall be
reasonably satisfied with the credit of such insurer, or (iii) the Guarantees pursuant to the Security Documents by Holdings (prior to a Borrower Qualified IPO), the Borrower or the Subsidiary Loan Parties of any of the Obligations shall cease to be
in full force and 

  
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effect (other than in accordance with the terms thereof), or shall be asserted in writing by Holdings (prior to a Borrower Qualified IPO) or the Borrower or any Subsidiary Loan Party not to be in
effect or not to be legal, valid and binding obligations; or 
 (m) (i) the Obligations shall fail to constitute
“Senior Debt” (or the equivalent thereof) and “Designated Senior Debt” (or the equivalent thereof) under the Senior Subordinated Notes Indentures or under any Permitted Refinancing Indebtedness in respect of the Senior
Subordinated Notes, or (ii) the subordination provisions thereunder shall be invalidated or otherwise cease, or shall be asserted in writing by Holdings, the Borrower or any Subsidiary Loan Party to be invalid or to cease to be legal, valid and
binding obligations of the parties thereto, enforceable in accordance with their terms; 
 then, and in every such event (other than an event with respect
to the Borrower described in paragraph (h) or (i) above), and at any time thereafter during the continuance of such event, the Administrative Agent, at the request of the Required Lenders, shall, by notice to the Borrower, take any or all of the
following actions, at the same or different times: (i) terminate forthwith the Commitments, (ii) declare the Loans then outstanding to be forthwith due and payable in whole or in part, whereupon the principal of the Loans so declared to be due
and payable, together with accrued interest thereon and any unpaid accrued Fees and all other liabilities of the Borrower accrued hereunder and under any other Loan Document, shall become forthwith due and payable, without presentment, demand,
protest or any other notice of any kind, all of which are hereby expressly waived by the Borrower, anything contained herein or in any other Loan Document to the contrary notwithstanding and (iii) if the Loans have been declared due and payable
pursuant to clause (ii) above, demand cash collateral pursuant to Section 2.05(j); and in any event with respect to the Borrower described in paragraph (h) or (i) above, the Commitments shall automatically terminate, the principal of the Loans then
outstanding, together with accrued interest thereon and any unpaid accrued Fees and all other liabilities of the Borrower accrued hereunder and under any other Loan Document, shall automatically become due and payable and the Administrative Agent
shall be deemed to have made a demand for cash collateral to the full extent permitted under Section 2.05(j), without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived by the Borrower, anything
contained herein or in any other Loan Document to the contrary notwithstanding. 
 SECTION 7.02. Exclusion of Immaterial
Subsidiaries. Solely for the purposes of determining whether an Event of Default has occurred under clause (h), (i) or (l) of Section 7.01, any reference in any such clause to any Subsidiary shall be deemed not to include any Immaterial
Subsidiary affected by any event or circumstance referred to in any such clause. 
 SECTION 7.03. Right to Cure. Notwithstanding
anything to the contrary contained in Section 7.01, in the event that the Borrower fails (or, but for the operation of this Section 7.03, would fail) to comply with the requirements of the Financial Performance Covenant as of the last day of any
fiscal quarter, then from the first day of such fiscal quarter until the expiration of the 10th day subsequent to the date the certificate calculating such Financial Performance Covenant for such fiscal quarter is required to be delivered pursuant
to Section 5.04(c), any Parent Entity and/or Holdings shall have the right to issue Permitted Cure Securities for cash or otherwise receive cash contributions to the capital of any Parent Entity and/or Holdings and, in each case, to contribute any
such cash, or other cash on the balance sheet of Holdings on or prior to the closing of the Exchange Transactions, up to $11.5 million, to the capital of the Borrower (collectively, the “Cure Right”), and upon the receipt by the Borrower
of such cash as a contribution to the common equity of the Borrower (the “Cure Amount”) pursuant to the exercise by any Parent Entity and/or Holdings of such Cure Right such Financial Performance Covenant shall be recalculated giving
effect to a pro forma adjustment by which EBITDA shall be increased with respect to such applicable quarter and any four-quarter period that contains such quarter, solely for the purpose of measuring the Financial Performance Covenant and not for
any other purpose under this Agreement, by an amount equal to the Cure Amount; provided, that, (i) there shall be no more than five exercises of the Cure Right in the aggregate and in each four-fiscal-quarter period there shall at least two fiscal
quarters in which the Cure Right is not exercised, (ii) for purposes of this Section 7.03, except in the case of cash on the balance sheet of Holdings on or prior to the closing of the Exchange Transactions, up to $11.5 million, the Cure Amount
shall be no greater than the amount required for purposes of complying with the Financial Performance Covenant, (iii) there shall be no pro forma reduction in Senior Secured Debt as a result of any exercise of a Cure Right (including with respect to
the up to $11.5 million contributed from any Parent Entity and/or Holdings to the capital of the Borrower as described above) and (iv) the Cure Amount shall not increase any “basket” set forth herein or constitute the basis for any other
exception to any restriction on making Investments, Restricted Payments or prepayments of Junior Debt. If, after giving effect to the adjustments in this Section 7.03, the Borrower shall then be in compliance with the requirements of the Financial
Performance Covenant, the Borrower shall be deemed to have satisfied the requirements of the Financial Performance Covenant as of the relevant date of determination with the same effect as though there had been no failure to comply therewith at such
date, and the applicable breach or default of the Financial Performance Covenant that had occurred shall be deemed cured for the purposes of this Agreement. 

  
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 ARTICLE VIII  

The Agents 
 SECTION
8.01. Appointment. 
 (a) Each Lender (in its capacities as a Lender and on behalf of itself and, to the extent such Lender
has the requisite authority, its Affiliates as potential counterparties to Swap Agreements) and each Issuing Bank (in such capacities and on behalf of itself and its Affiliates as potential counterparties to Swap Agreements) hereby irrevocably
designates and appoints the Administrative Agent as the agent of such Lender under this Agreement and the other Loan Documents, including as the Collateral Agent for such Lender and the other Secured Parties under the Security Documents, and each
such Lender irrevocably authorizes the Administrative Agent, in such capacity, to take such action on its behalf under the provisions of this Agreement and the other Loan Documents and to exercise such powers and perform such duties as are expressly
delegated to the Administrative Agent by the terms of this Agreement and the other Loan Documents, together with such other powers as are reasonably incidental thereto. In addition, to the extent required under the laws of any jurisdiction other
than the United States, each of the Lenders and the Issuing Banks hereby grants to the Administrative Agent any required powers of attorney to execute any Security Document governed by the laws of such jurisdiction on such Lender’s or Issuing
Bank’s behalf. Notwithstanding any provision to the contrary elsewhere in this Agreement, the Administrative Agent shall not have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with any
Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Administrative Agent. 

  
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 (b) In furtherance of the foregoing, each Lender (in its capacities as a Lender and on
behalf of itself and, to the extent such Lender has the requisite authority, its Affiliates as potential counterparties to Swap Agreements) and each Issuing Bank (in such capacities and on behalf of itself and its Affiliates as potential
counterparties to Swap Agreements) hereby appoints and authorizes the Administrative Agent to act as the agent of such Lender for purposes of acquiring, holding and enforcing any and all Liens on Collateral granted by any of the Loan Parties to
secure any of the Obligations, together with such powers and discretion as are reasonably incidental thereto. In this connection, the Administrative Agent (and any Subagents appointed by the Administrative Agent pursuant to Section 8.02 for purposes
of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Security Documents, or for exercising any rights or remedies thereunder at the direction of the Administrative Agent) shall be entitled to the benefits of
this Article VIII (including, without limitation, Section 8.07) as though the Administrative Agent (and any such Subagents) were an “Agent” under the Loan Documents, as if set forth in full herein with respect thereto. 

(c) Each Lender (in its capacities as a Lender and on behalf of itself and, to the extent such Lender has the requisite authority, its
Affiliates as potential counterparties to Swap Agreements) and each Issuing Bank (in such capacities and on behalf of itself and its Affiliates as potential counterparties to Swap Agreements) irrevocably authorizes the Administrative Agent, at its
option and in its discretion, (i) to release any Lien on any property granted to or held by the Administrative Agent under any Loan Document (A) upon termination of the Commitments and payment in full of all Obligations (other than in respect of
contingent indemnification and expense reimbursement obligations for which no claim has been made) and the expiration, termination or cash collateralization of all Letters of Credit, (B) that is sold or to be sold as part of or in connection with
any sale permitted hereunder or under any other Loan Document, or (C) if approved, authorized or ratified in writing in accordance with Section 9.08 hereof, (ii) to release any Guarantor from its obligations under the Loan Documents if such person
ceases to be a Subsidiary as a result of a transaction permitted hereunder; and (iii) to subordinate any Lien on any property granted to or held by the Administrative Agent under any Loan Document to the holder of any Lien on such property that is
permitted by Section 6.02(i) and (j). Upon request by the Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s authority to release its interest in particular types or items of property, or
to release any Guarantor from its obligations under the Loan Documents. 
 (d) In case of the pendency of any receivership, insolvency,
liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to any Loan Party, (i) the Administrative Agent (irrespective of whether the principal of any Obligation shall then be due and
payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise (A) to file
and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of any or all of the Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims
of the Lenders, the Issuing Banks and the Administrative Agent and any Subagents allowed in such judicial 

  
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proceeding, and (B) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same, and (ii) any custodian, receiver, assignee, trustee,
liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender and Issuing Bank to make such payments to the Administrative Agent and, if the Administrative Agent shall consent to the making of
such payments directly to the Lenders and the Issuing Banks, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any
other amounts due the Administrative Agent under the Loan Documents. Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender or Issuing Bank any plan
of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or Issuing Bank or to authorize the Administrative Agent to vote in respect of the claim of any Lender or Issuing Bank in any such
proceeding. 
 SECTION 8.02. Delegation of Duties. The Administrative Agent may execute any of its duties under this Agreement
and the other Loan Documents (including for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) by or through agents, employees or attorneys-in-fact and shall be entitled to advice of counsel and other consultants or
experts concerning all matters pertaining to such duties. The Administrative Agent shall not be responsible for the negligence or misconduct of any agents or attorneys-in-fact selected by it with reasonable care. The Administrative Agent may also
from time to time, when the Administrative Agent deems it to be necessary or desirable, appoint one or more trustees, co-trustees, collateral co-agents, collateral subagents or attorneys-in-fact (each, a “Subagent”) with respect to
all or any part of the Collateral; provided, that no such Subagent shall be authorized to take any action with respect to any Collateral unless and except to the extent expressly authorized in writing by the Administrative Agent. Should any
instrument in writing from the Borrower or any other Loan Party be required by any Subagent so appointed by the Administrative Agent to more fully or certainly vest in and confirm to such Subagent such rights, powers, privileges and duties, the
Borrower shall, or shall cause such Loan Party to, execute, acknowledge and deliver any and all such instruments promptly upon request by the Administrative Agent. If any Subagent, or successor thereto, shall die, become incapable of acting, resign
or be removed, all rights, powers, privileges and duties of such Subagent, to the extent permitted by law, shall automatically vest in and be exercised by the Administrative Agent until the appointment of a new Subagent. The Administrative Agent
shall not be responsible for the negligence or misconduct of any agent, attorney-in-fact or Subagent that it selects in accordance with the foregoing provisions of this Section 8.02 in the absence of the Administrative Agent’s gross negligence
or willful misconduct. 
 SECTION 8.03. Exculpatory Provisions. Neither any Agent or its Affiliates nor any of their respective
officers, directors, employees, agents, attorneys-in-fact or affiliates shall be (a) liable for any action lawfully taken or omitted to be taken by it or such person under or in connection with this Agreement or any other Loan Document (except to
the extent that any of the foregoing are found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from its or such person’s own gross negligence or willful misconduct) or (b) responsible in any manner to
any of the Lenders for any recitals, statements, representations or warranties made by any Loan Party or any officer thereof contained in this Agreement or any other Loan Document or in any certificate, report, statement or other document referred
to or 

  
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provided for in, or received by the Agents under or in connection with, this Agreement or any other Loan Document or for the value, validity, effectiveness, genuineness, enforceability or
sufficiency of this Agreement or any other Loan Document or for any failure of any Loan Party a party thereto to perform its obligations hereunder or thereunder. The Agents shall not be under any obligation to any Lender to ascertain or to
inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of any Loan Party. The Administrative Agent shall not
have any duties or obligations except those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other implied
duties, regardless of whether a Default or Event of Default has occurred and is continuing, and (b) the Administrative Agent shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be
liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the person serving as the Administrative Agent or any of its Affiliates in any capacity. The
Administrative Agent shall be deemed not to have knowledge of any Default or Event of Default unless and until notice describing such Default or Event of Default is given to the Administrative Agent in writing by the Borrower, a Lender or an Issuing
Bank. The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents
of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein
or the occurrence of any Default or Event of Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, or the creation, perfection or priority
of any Lien purported to be created by the Security Documents, (v) the value or the sufficiency of any Collateral, or (vi) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items
expressly required to be delivered to the Administrative Agent. 
 SECTION 8.04. Reliance by Administrative Agent. The
Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or
intranet website posting or other distribution) or conversation believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper person. The Administrative Agent also may rely upon any statement made to it
orally or by telephone and believed by it to have been made by the proper person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to any Credit Event, that by its terms must be
fulfilled to the satisfaction of a Lender or any Issuing Bank, the Administrative Agent may presume that such condition is satisfactory to such Lender or Issuing Bank unless the Administrative Agent shall have received notice to the contrary from
such Lender or the Issuing Bank prior to such Credit Event. The Administrative Agent may consult with legal counsel (including counsel to Holdings or the Borrower), independent accountants and other experts selected by it, and shall not be
liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. The Administrative Agent may deem and treat the payee of any Note as the owner thereof for all purposes unless a written
notice of assignment, negotiation or transfer thereof shall have been 

  
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filed with the Administrative Agent. The Administrative Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other Loan Document unless it
shall first receive such advice or concurrence of the Required Lenders (or, if so specified by this Agreement, all or other Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all
liability and expense that may be incurred by it by reason of taking or continuing to take any such action. The Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the
other Loan Documents in accordance with a request of the Required Lenders (or, if so specified by this Agreement, all or other Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders
and all future holders of the Loans. 
 SECTION 8.05. Notice of Default. The Administrative Agent shall not be deemed to have
knowledge or notice of the occurrence of any Default or Event of Default unless the Administrative Agent has received written notice from a Lender, Holdings or the Borrower referring to this Agreement, describing such Default or Event of Default and
stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with
respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all or other Lenders); provided, that unless and until the Administrative Agent shall have received such
directions, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders. 

SECTION 8.06. Non-Reliance on Agents and Other Lenders. Each Lender expressly acknowledges that neither the Agents nor any of
their respective officers, directors, employees, agents, attorneys-in-fact or affiliates have made any representations or warranties to it and that no act by any Agent hereafter taken, including any review of the affairs of a Loan Party or any
affiliate of a Loan Party, shall be deemed to constitute any representation or warranty by any Agent to any Lender. Each Lender represents to the Agents that it has, independently and without reliance upon any Agent or any other Lender, and
based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of the Loan Parties and their affiliates
and made its own decision to make its Loans hereunder and enter into this Agreement. Each Lender also represents that it will, independently and without reliance upon any Agent or any other Lender, and based on such documents and information as
it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to make such investigation as it deems necessary to
inform itself as to the business, operations, property, financial and other condition and creditworthiness of the Loan Parties and their affiliates. Except for notices, reports and other documents expressly required to be furnished to the
Lenders by the Administrative Agent hereunder, the Administrative Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, operations, property, condition (financial or
otherwise), prospects or creditworthiness of any Loan Party or any affiliate of a Loan Party that may come into the possession of the Administrative Agent or any of its officers, directors, employees, agents, attorneys-in-fact or affiliates. 

  
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 SECTION 8.07. Indemnification. The Lenders agree to indemnify each Agent and
each Issuing Bank in its capacity as such (to the extent not reimbursed by Holdings or the Borrower and without limiting the obligation of Holdings or the Borrower to do so), in the amount of its pro rata share (based on its aggregate Revolving
Facility Credit Exposure and unused Commitments hereunder; provided, that the aggregate principal amount of L/C Disbursements owing to any Issuing Bank shall be considered to be owed to the Revolving Facility Lenders ratably in
accordance with their respective Revolving Facility Credit Exposure) (determined at the time such indemnity is sought), from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or
disbursements of any kind whatsoever that may at any time (whether before or after the payment of the Loans) be imposed on, incurred by or asserted against such Agent or such Issuing Bank in any way relating to or arising out of the Commitments,
this Agreement, any of the other Loan Documents or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or any action taken or omitted by such Agent or such Issuing Bank under or in
connection with any of the foregoing; provided, that no Lender shall be liable for the payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements that are
found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from such Agent’s or such Issuing Bank’s gross negligence or willful misconduct. The failure of any Lender to reimburse any Agent or any
Issuing Bank, as the case may be, promptly upon demand for its ratable share of any amount required to be paid by the Lenders to such Agent or such Issuing Bank, as the case may be, as provided herein shall not relieve any other Lender of its
obligation hereunder to reimburse such Agent or such Issuing Bank, as the case may be, for its ratable share of such amount, but no Lender shall be responsible for the failure of any other Lender to reimburse such Agent or such Issuing Bank, as the
case may be, for such other Lender’s ratable share of such amount. The agreements in this Section shall survive the payment of the Loans and all other amounts payable hereunder. 

SECTION 8.08. Agent in Its Individual Capacity. Each Agent and its affiliates may make loans to, accept deposits from, and
generally engage in any kind of business with any Loan Party as though such Agent were not an Agent. With respect to its Loans made or renewed by it and with respect to any Letter of Credit issued, or Letter of Credit participated in, by it, each
Agent shall have the same rights and powers under this Agreement and the other Loan Documents as any Lender and may exercise the same as though it were not an Agent, and the terms “Lender” and “Lenders” shall include each Agent
in its individual capacity. 
 SECTION 8.09. Successor Administrative Agent. The Administrative Agent may resign as
Administrative Agent upon 10 days’ notice to the Lenders and the Borrower. If the Administrative Agent shall resign as Administrative Agent under this Agreement and the other Loan Documents, then the Required Lenders shall appoint from among
the Lenders a successor agent for the Lenders, which successor agent shall (unless an Event of Default under Section 7.01(b), (c), (h) or (i) shall have occurred and be continuing) be subject to approval by the Borrower (which approval shall not be
unreasonably withheld or delayed), whereupon such successor agent shall succeed to the rights, powers and duties of the Administrative Agent, and the term “Administrative Agent” shall mean such successor agent effective upon such
appointment and approval, and the former Administrative Agent’s rights, powers and duties as Administrative Agent shall be terminated, without any other or further act or deed on the part of 

  
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such former Administrative Agent or any of the parties to this Agreement or any holders of the Loans. If no successor agent has accepted appointment as Administrative Agent by the date that is 10
days following a retiring Administrative Agent’s notice of resignation, the retiring Administrative Agent’s resignation shall nevertheless thereupon become effective, and the retiring Administrative Agent shall, on behalf of the Lenders
and the Issuing Bank, appoint a successor agent which shall (unless an Event of Default under Section 7.01(b), (c), (h) or (i) shall have occurred and be continuing) be subject to approval by the Borrower (which approval shall not be unreasonably
withheld or delayed). After any retiring Administrative Agent’s resignation as Administrative Agent, the provisions of this Section 8.09 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative
Agent under this Agreement and the other Loan Documents. 
 SECTION 8.10. [Reserved]. 

SECTION 8.11. Withholding Taxes. To the extent required by any applicable laws, the Administrative Agent may withhold from any
payment to any Lender an amount equivalent to any applicable withholding Tax. Without limiting or expanding the provisions of Section 2.17, each Lender shall indemnify and hold harmless the Administrative Agent against, within 10 days after written
demand therefor, any and all Taxes and any and all related losses, claims, liabilities and expenses (including fees, charges and disbursements of any counsel for the Administrative Agent) incurred by or asserted against the Administrative Agent by
the Internal Revenue Service or any other Governmental Authority as a result of the failure of the Administrative Agent to properly withhold Tax from amounts paid to or for the account of any Lender for any reason (including, without limitation,
because the appropriate form was not delivered or not properly executed, or because such Lender failed to notify the Administrative Agent of a change in circumstance that rendered the exemption from, or reduction of, withholding Tax ineffective). A
certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts
at any time owing to such Lender under this Agreement or any other Loan Document against any amount due the Administrative Agent under this Section 8.11. The agreements in this Section 8.11 shall survive the resignation and/or replacement of the
Administrative Agent, any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations. For the avoidance of doubt, the term “Lender” in
this Section 8.11 shall include any Issuing Bank. 
 ARTICLE IX  

Miscellaneous 
 SECTION
9.01. Notices; Communications. 
 (a) Except in the case of notices and other communications expressly permitted to be
given by telephone (and except as provided in Section 9.01(b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or
sent by telecopier as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 

  
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 (i) if to any Loan Party, the Administrative Agent or the Issuing Bank, to
the address, telecopier number, electronic mail address or telephone number specified for such person on Schedule 9.01; and 

(ii) if to any other Lender, to the address, telecopier number, electronic mail address or telephone number specified in
its Administrative Questionnaire. 
 (b) Notices and other communications to the Lenders and the Issuing Bank hereunder may be
delivered or furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices to any Lender or the
Issuing Bank pursuant to Article II if such Lender or the Issuing Bank, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication. The Administrative Agent or
the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular
notices or communications. 
 (c) Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall
be deemed to have been given when received. Notices sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of
business on the next business day for the recipient). Notices delivered through electronic communications to the extent provided in Section 9.01(b) above shall be effective as provided in such Section 9.01(b). 

(d) Any party hereto may change its address or telecopy number for notices and other communications hereunder by notice to the other
parties hereto. 
 (e) Documents required to be delivered pursuant to Section 5.04 (to the extent any such documents are included in
materials otherwise filed with the SEC) may be delivered electronically (including as set forth in Section 9.17) and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides a
link thereto on the Borrower’s website on the Internet at the website address listed on Schedule 9.01, or (ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which each
Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent); provided, that (A) the Borrower shall deliver paper copies of such documents to the Administrative
Agent or any Lender that requests the Borrower to deliver such paper copies until a written request to cease delivering paper copies is given by the Administrative Agent or such Lender, and (B) the Borrower shall notify the Administrative Agent and
each Lender (by telecopier or electronic mail) of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents. Notwithstanding anything contained herein,
in every instance the Borrower shall be required to provide paper copies of the certificates required by Section 5.04(c) to the Administrative Agent. Except for 

  
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such certificates required by Section 5.04(c), the Administrative Agent shall have no obligation to request the delivery or to maintain copies of the documents referred to above, and in any event
shall have no responsibility to monitor compliance by the Borrower with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. 

SECTION 9.02. Survival of Agreement. All covenants, agreements, representations and warranties made by the Loan Parties
herein, in the other Loan Documents and in the certificates or other instruments prepared or delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the Lenders and each
Issuing Bank and shall survive the making by the Lenders of the Loans, the execution and delivery of the Loan Documents and the issuance of the Letters of Credit, regardless of any investigation made by such persons or on their behalf, and shall
continue in full force and effect as long as the principal of or any accrued interest on any Loan or L/C Disbursement or any Fee or any other amount payable under this Agreement or any other Loan Document is outstanding and unpaid or any Letter of
Credit is outstanding and so long as the Commitments have not been terminated. Without prejudice to the survival of any other agreements contained herein, indemnification and reimbursement obligations contained herein (including pursuant to
Sections 2.15, 2.17 and 9.05) shall survive the payment in full of the principal and interest hereunder, the expiration of the Letters of Credit and the termination of the Commitments or this Agreement. 

SECTION 9.03. Binding Effect. This Agreement shall become effective when it shall have been executed by Holdings, the
Borrower and the Administrative Agent and when the Administrative Agent shall have received copies hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the
benefit of Holdings, the Borrower, each Issuing Bank, the Administrative Agent and each Lender and their respective permitted successors and assigns. 

SECTION 9.04. Successors and Assigns. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and assigns permitted hereby (including any affiliate of the Issuing Bank that issues any Letter of Credit), except that (i) the Borrower may not assign or otherwise transfer any of its rights or
obligations hereunder without the prior written consent of each Lender (and any attempted assignment or transfer by the Borrower without such consent shall be null and void) except in connection with the addition of one or more Domestic Subsidiaries
as a joint and several co-borrower hereunder, and (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance with this Section 9.04. Nothing in this Agreement, expressed or implied, shall be
construed to confer upon any person (other than the parties hereto, their respective successors and assigns permitted hereby (including any Affiliate of the Issuing Bank that issues any Letter of Credit), Participants (to the extent provided in
paragraph (d) of this Section 9.04), and, to the extent expressly contemplated hereby, the Related Parties of each of the Agents, the Issuing Bank and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement or
the other Loan Documents. 
 (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or
more assignees other than the Borrower or any of its Affiliates 

  
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(each, an “Assignee”) all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitments and the Loans at the time owing to it)
with the prior written consent (such consent not to be unreasonably withheld or delayed) of: 
 (A) the Borrower;
provided, that no consent of the Borrower shall be required for an assignment to a Lender, an affiliate of a Lender, an Approved Fund (as defined below) or, if an Event of Default has occurred and is continuing, any other person (other than a
natural person) that is engaged in making, purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary course; 

(B) the Administrative Agent; and 

(C) the Issuing Bank. 

(ii) Assignments shall be subject to the following additional conditions: 

(A) except in the case of an assignment to a Lender, an affiliate of a Lender or an Approved Fund or an assignment of the
entire remaining amount of the assigning Lender’s Commitments or Loans under any Facility, the amount of the Commitments or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Acceptance
with respect to such assignment is delivered to the Administrative Agent) shall not be less than $5.0 million in the case of Revolving Facility Loans or Revolving Facility Commitments, unless each of the Borrower and the Administrative Agent
otherwise consent; provided, that (1) no such consent of the Borrower shall be required if an Event of Default under Sections 7.01(b), (c), (h) or (i) has occurred and is continuing and (2) such amounts shall be aggregated in respect of each
Lender and its Affiliates or Approved Funds (with simultaneous assignments to or by two or more Approved Funds shall be treated as one assignment), if any; 

(B) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Acceptance via
an electronic settlement system acceptable to the Administrative Agent (or, if previously agreed with the Administrative Agent, manually), and shall pay to the Administrative Agent a processing and recordation fee of $3,500 (which fee may be waived
or reduced in the sole discretion of the Administrative Agent); provided that only one such fee shall be due in respect of a simultaneous assignment to more than one Affiliate of a Lender or Approved Fund; 

(C) if the Assignee is assigning Revolving Facility Loans and Revolving Facility Commitments the Assignee is
simultaneously assigning to the Assignor loans and commitments under the ABL Facility in amounts equal to the Revolving Facility Loans and Revolving Facility Commitments being assigned hereunder; and 

(D) the Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire
and any tax forms required to be delivered pursuant to Section 2.17. 
 For the purposes of this Section 9.04, “Approved Fund” means any
person (other than a natural person) that is engaged in making, purchasing, holding or investing in bank loans and similar 

  
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extensions of credit in the ordinary course and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or
manages a Lender. 
 (iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(v) below, from and
after the effective date specified in each Assignment and Acceptance the Assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Acceptance, have the rights and obligations of a Lender under
this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Acceptance, be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all
of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.15, 2.16, 2.17 and 9.05). Any assignment or transfer by a Lender
of rights or obligations under this Agreement that does not comply with this Section 9.04 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (d) of
this Section 9.04. 
 (iv) The Administrative Agent, acting for this purpose as an agent of the Borrower, shall maintain
at one of its offices a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amount of the Loans and Revolving L/C Exposure owing
to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and the Borrower, the Administrative Agent, the Issuing Bank and the Lenders shall treat each person
whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower, the Issuing Bank
and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 
 (v) Upon its receipt of a
duly completed Assignment and Acceptance executed by an assigning Lender and an Assignee, the Assignee’s completed Administrative Questionnaire (unless the Assignee shall already be a Lender hereunder), all applicable tax forms, the processing
and recordation fee referred to in paragraph (b) of this Section and any written consent to such assignment required by paragraph (b) of this Section, the Administrative Agent promptly shall accept such Assignment and Acceptance and record the
information contained therein in the Register. No assignment, whether or not evidenced by a promissory note, shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph (b)(v). 

(c) By executing and delivering an Assignment and Acceptance, the assigning Lender thereunder and the Assignee thereunder shall be deemed
to confirm to and agree with each other and the other parties hereto as follows: (i) such assigning Lender warrants that it is the legal and beneficial owner of the interest being assigned thereby free and clear of any adverse claim and that
its Revolving Facility Commitment and the outstanding balances of its Revolving Facility Loans and same percentage of the loans, and commitments under the Existing Revolving 

  
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Credit Agreement, in each case without giving effect to assignments thereof which have not become effective, are as set forth in such Assignment and Acceptance, (ii) except as set forth in clause
(i) above, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Agreement, or the execution, legality, validity,
enforceability, genuineness, sufficiency or value of this Agreement, any other Loan Document or any other instrument or document furnished pursuant hereto, or the financial condition of Holdings, the Borrower or any Subsidiary or the performance or
observance by Holdings, the Borrower or any Subsidiary of any of its obligations under this Agreement, any other Loan Document or any other instrument or document furnished pursuant hereto; (iii) the Assignee represents and warrants that it is
legally authorized to enter into such Assignment and Acceptance and the related assignment and acceptance under the Existing Revolving Credit Agreement; (iv) the Assignee confirms that it has received a copy of this Agreement, together with copies
of the most recent financial statements referred to in Section 3.05 (or delivered pursuant to Section 5.04), and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such
Assignment and Acceptance; (v) the Assignee will independently and without reliance upon the Administrative Agent, the Collateral Agent, such assigning Lender or any other Lender and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement; (vi) the Assignee appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise
such powers under this Agreement as are delegated to the Administrative Agent by the terms of this Agreement, together with such powers as are reasonably incidental thereto; and (vii) the Assignee agrees that it will perform in accordance with their
terms all the obligations which by the terms of this Agreement are required to be performed by it as a Lender. 
 (d) (i) Any Lender
may, without the consent of the Borrower or the Administrative Agent, sell participations to one or more banks or other entities (a “Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement
(including all or a portion of its Commitments and the Loans owing to it) provided it is simultaneously selling participations in the same amount of its rights and obligations under the Existing Revolving Credit Agreement to the same participant;
provided, that (A) such Lender’s obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Borrower, the
Administrative Agent, the Issuing Bank and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement pursuant to which a Lender
sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and the other Loan Documents and to approve any amendment, modification or waiver of any provision of this Agreement and the other Loan
Documents; provided, that (x) such agreement may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver that (1) requires the consent of each Lender directly affected thereby
pursuant to Section 9.04(a)(i) or clauses (i), (ii), (iii), (iv), (v) or (vi) of the first proviso to Section 9.08(b) and (2) directly affects such Participant and (y) no other agreement with respect to amendment, modification or waiver may exist
between such Lender and such Participant. Subject to paragraph (c)(ii) of this Section 9.04, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.15, 2.16 and 2.17 (subject to the requirements and


  
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limitations of such Sections) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section 9.04. To the extent permitted by
law, each Participant also shall be entitled to the benefits of Section 9.06 as though it were a Lender, provided such Participant shall be subject to Section 2.18(c) as though it were a Lender. 

(ii) A Participant shall not be entitled to receive any greater payment under Section 2.15, 2.16 or 2.17 than the
applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written consent (not to be unreasonably
withheld or delayed). Each Lender that sells a participation shall, acting solely for this purpose as an agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and interest
amounts) of each Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the
Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the
extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register
shall be conclusive absent manifest error. 
 (e) Any Lender may at any time pledge or assign a security interest in all or any portion
of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank and in the case of any Lender that is an Approved Fund, any pledge or assignment to any
holders of obligations owed, or securities issued, by such Lender, including to any trustee for, or any other representative of, such holders, and this Section 9.04 shall not apply to any such pledge or assignment of a security interest;
provided, that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or Assignee for such Lender as a party hereto. 

(f) The Borrower, upon receipt of written notice from the relevant Lender, agrees to issue Notes to any Lender requiring Notes to
facilitate transactions of the type described in paragraph (d) above. 
 (g) Notwithstanding the foregoing, any Conduit Lender may
assign any or all of the Loans it may have funded hereunder to its designating Lender without the consent of the Borrower or the Administrative Agent. Each of Holdings, the Borrower, each Lender and the Administrative Agent hereby confirms that
it will not institute against a Conduit Lender or join any other person in instituting against a Conduit Lender any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding under any state bankruptcy or similar law, for one year
and one day after the payment in full of the latest maturing commercial paper note issued by such Conduit Lender; provided, however, that each Lender designating any Conduit Lender hereby agrees to indemnify, save and hold harmless
each other party hereto and each Loan Party for any loss, cost, damage or expense arising out of its inability to institute such a proceeding against such Conduit Lender during such period of forbearance. 

  
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 (h) If the Borrower wishes to replace the Loans or Commitments under any Facility with ones
having different terms, it shall have the option, with the consent of the Administrative Agent and subject to at least three Business Days’ advance notice to the Lenders under such Facility, instead of prepaying the Loans or reducing or
terminating the Commitments to be replaced, to (i) require the Lenders under such Facility to assign such Loans or Commitments to the Administrative Agent or its designees and (ii) amend the terms thereof in accordance with Section 9.08 (with such
replacement, if applicable, being deemed to have been made pursuant to Section 9.08(d)). Pursuant to any such assignment, all Loans and Commitments to be replaced shall be purchased at par (allocated among the Lenders under such Facility in the same
manner as would be required if such Loans were being optionally prepaid or such Commitments were being optionally reduced or terminated by the Borrower), accompanied by payment of any accrued interest and fees thereon and any amounts owing pursuant
to Section 9.05(b). By receiving such purchase price, the Lenders under such Facility shall automatically be deemed to have assigned the Loans or Commitments under such Facility pursuant to the terms of the form of Assignment and Acceptance attached
as Exhibit A, and accordingly no other action by such Lenders shall be required in connection therewith. The provisions of this paragraph (h) are intended to facilitate the maintenance of the perfection and priority of existing security
interests in the Collateral during any such replacement. 
 (i) Notwithstanding the foregoing, no assignment may be made or
participation sold to an Ineligible Institution without the prior written consent of the Borrower. Notwithstanding anything to the contrary in this Agreement, the Borrower and the Lenders acknowledge and agree that the Administrative Agent
shall have no responsibility to monitor whether assignments or participations are made to Ineligible Institutions, and that none of the Borrower or any of its Subsidiaries shall bring a claim to such effect. 

SECTION 9.05. Expenses; Indemnity. 

(a) The Borrower agrees to pay (i) all reasonable out of pocket expenses (including Other Taxes) incurred by the Administrative Agent in
connection with the preparation of this Agreement and the other Loan Documents, or by the Administrative Agent in connection with the syndication of the Commitments or the administration of this Agreement (including expenses incurred in connection
with due diligence and initial and ongoing Collateral examination to the extent incurred with the reasonable prior approval of the Borrower and the reasonable fees, disbursements and charges for no more than one counsel in each jurisdiction where
Collateral is located) or in connection with the administration of this Agreement and any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions hereby contemplated shall be consummated), including
the reasonable fees, charges and disbursements of Gibson, Dunn & Crutcher LLP, counsel for the Administrative Agent and the Joint Lead Arrangers and, if necessary, the reasonable fees, charges and disbursements of one local counsel per
jurisdiction, and (ii) all out of pocket expenses (including Other Taxes) incurred by the Administrative Agent, any Joint Lead Arranger or any Lender in connection with the enforcement or protection of their rights in connection with this Agreement
and the other Loan Documents, in connection with the Loans made or the Letters of Credit issued hereunder, including the fees, charges and disbursements of counsel for the Administrative Agent (including any special and local counsel). 

  
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 (b) The Borrower agrees to indemnify the Administrative Agent, the Agents, the Joint Lead
Arrangers, each Issuing Bank, each Lender, each of their respective Affiliates and each of their respective directors, trustees, officers, employees, agents, trustees and advisors (each such person being called an “Indemnitee”)
against, and to hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including reasonable counsel fees, charges and disbursements (except the allocated costs of in-house counsel), incurred by or
asserted against any Indemnitee arising out of, in any way connected with, or as a result of (i) the execution or delivery of this Agreement or any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by
the parties hereto and thereto of their respective obligations thereunder or the consummation of the transactions contemplated hereby, (ii) the use of the proceeds of the Loans or the use of any Letter of Credit or (iii) any claim, litigation,
investigation or proceeding relating to any of the foregoing, whether or not any Indemnitee is a party thereto and regardless of whether such matter is initiated by a third party or by Holdings, the Borrower or any of their subsidiaries or
Affiliates; provided, that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a final, non appealable judgment of a court of
competent jurisdiction to have resulted from the gross negligence or willful misconduct of such Indemnitee (for purposes of this proviso only, each of the Administrative Agent, any Joint Lead Arranger, any Issuing Bank or any Lender shall be treated
as several and separate Indemnitees, but each of them together with its respective Related Parties, shall be treated as a single Indemnitee). Subject to and without limiting the generality of the foregoing sentence, the Borrower agrees to
indemnify each Indemnitee against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including reasonable counsel or consultant fees, charges and disbursements (limited to not more than
one counsel, plus, if necessary, one local counsel per jurisdiction) (except the allocated costs of in-house counsel), incurred by or asserted against any Indemnitee arising out of, in any way connected with, or as a result of (A) any claim related
in any way to Environmental Laws and Holdings, the Borrower or any of their Subsidiaries, or (B) any actual or alleged presence, Release or threatened Release of Hazardous Materials at, under, on, from or to any Property; provided, that such
indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from
the gross negligence or willful misconduct of such Indemnitee or any of its Related Parties. None of the Indemnitees (or any of their respective affiliates) shall be responsible or liable to the Fund, Holdings, the Borrower or any of their
respective subsidiaries, Affiliates or stockholders or any other person or entity for any special, indirect, consequential or punitive damages, which may be alleged as a result of the Facilities. The provisions of this Section 9.05 shall remain
operative and in full force and effect regardless of the expiration of the term of this Agreement, the consummation of the transactions contemplated hereby, the repayment of any of the Obligations, the invalidity or unenforceability of any term or
provision of this Agreement or any other Loan Document, or any investigation made by or on behalf of the Administrative Agent, any Issuing Bank or any Lender. All amounts due under this Section 9.05 shall be payable on written demand therefor
accompanied by reasonable documentation with respect to any reimbursement, indemnification or other amount requested. 
 (c) Except as
expressly provided in Section 9.05(a) with respect to Other Taxes, which shall not be duplicative with any amounts paid pursuant to Section 2.17, this Section 9.05 shall not apply to Taxes other than Taxes that represent losses, claims, damages,
liabilities and expenses with respect to a non-Tax claim. 

  
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 (d) To the fullest extent permitted by applicable law, Holdings and the Borrower shall not
assert, and hereby waive, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this
Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee shall be liable for any
damages arising from the use by unintended recipients of any information or other materials distributed by it through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan
Documents or the transactions contemplated hereby or thereby. 
 (e) The agreements in this Section 9.05 shall survive the resignation
of the Administrative Agent, any Issuing Bank, the replacement of any Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all the other Obligations and the termination of this Agreement. 

SECTION 9.06. Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender and each Issuing
Bank is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any
time owing by such Lender or such Issuing Bank to or for the credit or the account of Holdings (prior to a Borrower Qualified IPO), the Borrower or any Subsidiary against any of and all the obligations of Holdings (prior to a Borrower Qualified IPO)
or the Borrower now or hereafter existing under this Agreement or any other Loan Document held by such Lender or such Issuing Bank, irrespective of whether or not such Lender or such Issuing Bank shall have made any demand under this Agreement or
such other Loan Document and although the obligations may be unmatured. The rights of each Lender and each Issuing Bank under this Section 9.06 are in addition to other rights and remedies (including other rights of setoff) that such Lender or
such Issuing Bank may have. 
 SECTION 9.07. Applicable Law. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (OTHER THAN
LETTERS OF CREDIT AND AS EXPRESSLY SET FORTH IN OTHER LOAN DOCUMENTS) SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 

SECTION 9.08. Waivers; Amendment. 

(a) No failure or delay of the Administrative Agent, any Issuing Bank or any Lender in exercising any right or power hereunder or under
any Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof
or the exercise of any other right or power. The rights and remedies of the Administrative Agent, each Issuing Bank and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that
they would 

  
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otherwise have. No waiver of any provision of this Agreement or any other Loan Document or consent to any departure by Holdings (prior to a Borrower Qualified IPO), the Borrower or any other
Loan Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) below, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice or
demand on Holdings, the Borrower or any other Loan Party in any case shall entitle such person to any other or further notice or demand in similar or other circumstances. 

(b) Neither this Agreement nor any other Loan Document nor any provision hereof or thereof may be waived, amended or modified except
(x) in the case of this Agreement, pursuant to an agreement or agreements in writing entered into by Holdings, the Borrower and the Required Lenders, and (y) in the case of any other Loan Document, pursuant to an agreement or agreements in
writing entered into by each party thereto and the Administrative Agent and consented to by the Required Lenders; provided, however, that no such agreement shall 

(i) decrease or forgive the principal amount of, or extend the final maturity of, or decrease the rate of interest on, any
Loan or any L/C Disbursement, or extend the stated expiration of any Letter of Credit beyond the Revolving Facility Maturity Date, without the prior written consent of each Lender directly affected thereby, except as provided in Section 2.05(c);
provided that any amendment to the financial covenant definitions in this Agreement shall not constitute a reduction in the rate of interest for purposes of this clause (i), 

(ii) increase or extend the Commitment of any Lender or decrease the Facility Fees, Issuing Bank Fees or L/C Participation
Fees or other fees of any Lender, Agent or Issuing Bank without the prior written consent of such Lender, Agent or Issuing Bank (it being understood that waivers or modifications of conditions precedent, covenants, Defaults or Events of Default or
of a mandatory reduction in the aggregate Commitments shall not constitute an increase of the Commitments of any Lender), 

(iii) extend any date on which payment of interest on any Loan or any L/C Disbursement or any Fees is due, without the
prior written consent of each Lender adversely affected thereby, 
 (iv) amend the provisions of Section 5.02 of the
Collateral Agreement, or any analogous provision of any other Security Document, in a manner that would by its terms alter the pro rata sharing of payments required thereby, without the prior written consent of each Lender adversely affected
thereby, 
 (v) amend or modify the provisions of this Section 9.08 or the definition of the terms “Required
Lenders” or any other provision hereof specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder, without the prior written consent of each
Lender adversely affected thereby (it being understood that, with the consent of the Required Lenders, additional extensions of credit pursuant to this Agreement may be included in the determination of the Required Lenders on substantially the same
basis as the Loans and Commitments are included on the Closing Date), 

  
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 (vi) release all or substantially all the Collateral or release any of
Holdings (prior to a Borrower Qualified IPO), the Borrower or all or substantially all of the Subsidiary Loan Parties from their respective Guarantees under the Collateral Agreement, unless, in the case of a Subsidiary Loan Party, all or
substantially all the Equity Interests of such Subsidiary Loan Party is sold or otherwise disposed of in a transaction permitted by this Agreement, without the prior written consent of each Lender; 

(vii) effect any waiver, amendment or modification that by its terms adversely affects the rights in respect of payments
or collateral of Lenders participating in any Facility differently from those of Lenders participating in another Facility, without the consent of the Required Lenders participating in the adversely affected Facility (it being agreed that the
Required Lenders may waive, in whole or in part, any prepayment or Commitment reduction required by Section 2.11 so long as the application of any prepayment or Commitment reduction still required to be made is not changed); 

provided, further, that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent or an Issuing Bank
hereunder without the prior written consent of the Administrative Agent or such Issuing Bank acting as such at the effective date of such agreement, as applicable. Each Lender shall be bound by any waiver, amendment or modification authorized
by this Section 9.08 and any consent by any Lender pursuant to this Section 9.08 shall bind any assignee of such Lender. 
 (c) Without
the consent of any Joint Lead Arranger or Lender or Issuing Bank, the Loan Parties and the Administrative Agent may (in their respective sole discretion, or shall, to the extent required by any Loan Document) enter into any amendment, modification
or waiver of any Loan Document, or enter into any new agreement or instrument, to effect the granting, perfection, protection, expansion or enhancement of any security interest in any Collateral or additional property to become Collateral for the
benefit of the Secured Parties, or as required by local law to give effect to, or protect any security interest for the benefit of the Secured Parties, in any property or so that the security interests therein comply with applicable law. 

(d) Notwithstanding the foregoing, this Agreement may be amended (or amended and restated) with the written consent of the Required
Lenders, the Administrative Agent, Holdings and the Borrower (a) to add one or more additional credit facilities to this Agreement and to permit the extensions of credit from time to time outstanding thereunder and the accrued interest and fees in
respect thereof to share ratably in the benefits of this Agreement and the other Loan Documents with the Revolving Facility Loans and the accrued interest and fees in respect thereof and (b) to include appropriately the Lenders holding such credit
facilities in any determination of the Required Lenders. 
 (e) Notwithstanding the foregoing, technical and conforming modifications
to the Loan Documents may be made with the consent of the Borrower and the Administrative Agent to the extent necessary to correct any inconsistencies between this Agreement and the ABL Credit Agreement. 

  
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 SECTION 9.09. Interest Rate Limitation. Notwithstanding anything herein to the
contrary, if at any time the applicable interest rate, together with all fees and charges that are treated as interest under applicable law (collectively, the “Charges”), as provided for herein or in any other document executed in
connection herewith, or otherwise contracted for, charged, received, taken or reserved by any Lender or any Issuing Bank, shall exceed the maximum lawful rate (the “Maximum Rate”) that may be contracted for, charged, taken, received
or reserved by such Lender in accordance with applicable law, the rate of interest payable hereunder, together with all Charges payable to such Lender or such Issuing Bank, shall be limited to the Maximum Rate; provided, that such excess
amount shall be paid to such Lender or such Issuing Bank on subsequent payment dates to the extent not exceeding the legal limitation. 

SECTION 9.10. Entire Agreement. This Agreement, the other Loan Documents and the agreements regarding certain Fees referred
to herein constitute the entire contract between the parties relative to the subject matter hereof. Any previous agreement among or representations from the parties or their Affiliates with respect to the subject matter hereof is superseded by
this Agreement and the other Loan Documents. Notwithstanding the foregoing, the Fee Letter shall survive the execution and delivery of this Agreement and remain in full force and effect. Nothing in this Agreement or in the other Loan
Documents, expressed or implied, is intended to confer upon any party other than the parties hereto and thereto any rights, remedies, obligations or liabilities under or by reason of this Agreement or the other Loan Documents. 

SECTION 9.11. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE,
AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN
INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 9.11. 

SECTION 9.12. Severability. In the event any one or more of the provisions contained in this Agreement or in any other Loan
Document should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby. The parties shall
endeavor in good faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

SECTION 9.13. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall constitute an
original but all of which, when taken together, shall constitute but one contract, and shall become effective as provided in Section 9.03. Delivery of an executed counterpart to this Agreement by facsimile transmission (or other electronic
transmission pursuant to procedures approved by the Administrative Agent) shall be as effective as delivery of a manually signed original. 

  
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 SECTION 9.14. 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 9.15. Jurisdiction; Consent to Service of Process. Each party hereto hereby irrevocably and unconditionally: 

(a) submits for itself and its property in any legal action or proceeding relating to this Agreement and the other Loan
Documents to which it is a party, or for recognition and enforcement of any judgment in respect thereof, to the general and exclusive jurisdiction of the Supreme Court of the State of New York for the County of New York (the “New York
Supreme Court”), and the United States District Court for the Southern District of New York (the “Federal District Court”, and together with the New York Supreme Court, the “New York Courts”), and appellate
courts from either of them; 
 (b) consents that any such action or proceeding may be brought in such courts and waives,
to the maximum extent not prohibited by law, any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient forum and agrees not to
plead or claim the same; 
 (c) agrees that the New York Courts and appellate courts from either of them shall be the
exclusive forum for any legal action or proceeding relating to this Agreement and the other Loan Documents to which it is a party, and that it shall not initiate (or collusively assist in the initiation or prosecution of) any such action or
proceeding in any court other than the New York Courts and appellate courts from either of them; provided that 

(i) if all such New York Courts decline jurisdiction over any Person, or decline (or in the case of the Federal District
Court, lack) jurisdiction over the subject matter of such action or proceeding, a legal action or proceeding may be brought with respect thereto in another court having such jurisdiction; 

(ii) in the event that a legal action or proceeding is brought against any party hereto or involving any of its property
or assets in another court (without any collusive assistance by such party or any of its Subsidiaries or Affiliates), such party shall be entitled to assert any claim or defense (including any claim or defense that this Section 9.15(c) would
otherwise require to be asserted in a legal action or proceeding in a New York Court) in any such action or proceeding; 

(iii) the Administrative Agent and the Lenders may bring any legal action or proceeding against any Loan Party in any
jurisdiction in connection with the exercise of any rights under any Security Documents; provided that any Loan Party shall be entitled to assert any claim or defense (including any claim or defense that this Section 9.15(c) would otherwise
require to be asserted in a legal action or proceeding in a New York Court) in any such action or proceeding; and 

  
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 (iv) any party hereto may bring any legal action or proceeding in any
jurisdiction for the recognition and enforcement of any judgment; 
 (d) agrees that service of process in any such
action or proceeding may be effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to the Borrower, the applicable Lender or the Administrative Agent, as the case may be, at
the address specified in Section 9.01 or at such other address of which the Administrative Agent, any such Lender and the Borrower shall have been notified pursuant thereto; and 

(e) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or
(subject to the preceding clause (c)) shall limit the right to sue in any other jurisdiction. 
 SECTION 9.16. Confidentiality.
Each of the Lenders, each Issuing Bank and each of the Agents agrees that it shall maintain in confidence any information relating to Holdings, the Borrower and any Subsidiary furnished to it by or on behalf of Holdings, the Borrower or any
Subsidiary (other than information that (a) has become generally available to the public other than as a result of a disclosure by such party in violation of this Section 9.16, (b) has been independently developed by such Lender, such Issuing Bank
or such Agent without violating this Section 9.16 or (c) was available to such Lender, such Issuing Bank or such Agent from a third party having, to such person’s knowledge, no obligations of confidentiality to Holdings, the Borrower or any
other Loan Party) and shall not reveal the same other than to its directors, trustees, officers, employees, advisors and any numbering, administration or settlement service providers with a need to know or to any person that approves or administers
the Loans on behalf of such Lender (so long as each such person shall have been instructed to keep the same confidential in accordance with this Section 9.16), except: (A) to the extent necessary to comply with law or any legal process or the
requirements of any Governmental Authority, the National Association of Insurance Commissioners or of any securities exchange on which securities of the disclosing party or any Affiliate of the disclosing party are listed or traded, (B) as part of
normal reporting or review procedures to, or examinations by, Governmental Authorities or self regulatory authorities, including the National Association of Insurance Commissioners or the National Association of Securities Dealers, Inc., (C) to its
parent companies, Affiliates or auditors (so long as each such person shall have been instructed to keep the same confidential in accordance with this Section 9.16), (D) in order to enforce its rights under any Loan Document in a legal proceeding,
(E) to other Lenders and to any pledgee under Section 9.04(d) or any other prospective assignee of, or prospective Participant in, any of its rights under this Agreement (so long as such person is subject to this Section 9.16 or shall have been
instructed to keep the same confidential in accordance with this Section 9.16) and (F) to any direct or indirect contractual counterparty in Swap Agreements or such contractual counterparty’s professional advisor (so long as such contractual
counterparty or professional advisor to such contractual counterparty agrees to be bound by the provisions of this Section 9.16). 

  
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 SECTION 9.17. Platform; Borrower Materials. The Borrower hereby acknowledges that (a)
the Administrative Agent will make available to the Lenders and the Issuing Bank materials and/or information provided by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials
on IntraLinks or another similar electronic system (the “Platform”), and (b) certain of the Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to receive material
non-public information with respect to the Borrower or its securities) (each, a “Public Lender”). The Borrower hereby agrees that it will use commercially reasonable efforts to identify that
portion of the Borrower Materials that may be distributed to the Public Lenders and that (i) all such Borrower Materials shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC”
shall appear prominently on the first page thereof, (ii) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized the Administrative Agent, the Issuing Bank and the Lenders to treat such Borrower Materials as
either publicly available information or not material information (although it may be sensitive and proprietary) with respect to the Borrower or its securities for purposes of United States Federal and state securities laws, (iii) all Borrower
Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Investor;” and (iv) the Administrative Agent shall be entitled to treat any Borrower Materials that are not marked
“PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Investor.” Notwithstanding the foregoing, the following Borrower Materials shall be deemed to be marked “PUBLIC,” unless
the Borrower notifies the Administrative Agent promptly that any such document contains material nonpublic information: (1) the Loan Documents, (2) any notification of changes in the terms of the credit facilities and (3) all information delivered
pursuant to Section 5.04. 
 SECTION 9.18. Release of Liens and Guarantees. In the event that any Loan Party conveys, sells,
leases, assigns, transfers or otherwise disposes of all or any portion of any of the Equity Interests or assets of any Subsidiary Loan Party to a person that is not (and is not required to become) a Loan Party in a transaction not prohibited by
Section 6.05, any Liens created by any Loan Document in respect of such Equity Interests or assets shall be automatically released and the Administrative Agent shall promptly (and the Lenders hereby authorize the Administrative Agent to) take such
action and execute any such documents as may be reasonably requested by Holdings or the Borrower and at the Borrower’s expense in connection with the release of any Liens created by any Loan Document in respect of such Equity Interests or
assets, and, in the case of a disposition of the Equity Interests of any Subsidiary Loan Party in a transaction permitted by Section 6.05 (including through merger, consolidation, amalgamation or otherwise) and as a result of which such Subsidiary
Loan Party would cease to be a Subsidiary, such Subsidiary Loan Party’s obligations under its Guarantee shall be automatically terminated and the Administrative Agent shall promptly (and the Lenders hereby authorize the Administrative Agent to)
take such action and execute any such documents as may be reasonably requested by Holdings or the Borrower to terminate such Subsidiary Loan Party’s obligations under its Guarantee. In addition, the Administrative Agent agrees to take such
actions as are reasonably requested by Holdings or the Borrower and at the Borrower’s expense to terminate the Liens and security interests created by the Loan Documents when all the Obligations (other than contingent indemnification
Obligations and expense reimbursement claims to the extent no claim therefor has been made) are paid in full and all Letters of Credit and Commitments are terminated. Without limiting the foregoing, upon the consummation of a Borrower Qualified IPO,
Holdings shall be released from its Guarantee, shall cease to be a Loan Party, and any Liens created by any Loan Documents on any assets or Equity Interests owned by Holdings shall be released. 

  
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 SECTION 9.19. Judgment Currency. If, for the purposes of obtaining judgment in any
court, it is necessary to convert a sum due hereunder or any other Loan Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could
purchase the first currency with such other currency on the Business Day preceding that on which final judgment is given. The obligation of the Borrower in respect of any such sum due from it to the Administrative Agent or the Lenders hereunder or
under the other Loan Documents shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with the applicable provisions of this Agreement (the
“Agreement Currency”), be discharged only to the extent that on the Business Day following receipt by the Administrative Agent of any sum adjudged to be so due in the Judgment Currency, the Administrative Agent may in accordance
with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due to the Administrative Agent from the Borrower in the Agreement
Currency, the Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or the person to whom such obligation was owing against such loss. If the amount of the Agreement Currency so
purchased is greater than the sum originally due to the Administrative Agent in such currency, the Administrative Agent agrees to return the amount of any excess to the Borrower (or to any other person who may be entitled thereto under applicable
law). 
 SECTION 9.20. USA PATRIOT Act Notice. Each Lender that is subject to the Act (as hereinafter defined) and the
Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act, it is required to obtain, verify and record information that identifies each Loan Party, which
information includes the name and address of each Loan Party and other information that will allow such Lender or the Administrative Agent, as applicable, to identify each Loan Party in accordance with the USA PATRIOT Act. 

SECTION 9.21. No Liability of the Issuing Banks. The Borrower assumes all risks of the acts or omissions of any beneficiary or
transferee of any Letter of Credit with respect to its use of such Letter of Credit. Neither any Issuing Bank nor any of its officers or directors shall be liable or responsible for: (a) the use that may be made of any Letter of Credit or any acts
or omissions of any beneficiary or transferee in connection therewith; (b) the validity, sufficiency or genuineness of documents, or of any endorsement thereon, even if such documents should prove to be in any or all respects invalid, insufficient,
fraudulent or forged; (c) payment by such Issuing Bank against presentation of documents that do not comply with the terms of a Letter of Credit, including failure of any documents to bear any reference or adequate reference to the Letter of Credit;
or (d) any other circumstances whatsoever in making or failing to make payment under any Letter of Credit, except that the Borrower shall have a claim against such Issuing Bank, and such Issuing Bank shall be liable to the Borrower, to the extent of
any direct, but not consequential, damages suffered by the Borrower that the Borrower proves were caused by (i) such Issuing Bank’s willful misconduct or gross negligence as determined in a final, non-appealable judgment by a court of competent
jurisdiction in determining whether documents 

  
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presented under any Letter of Credit comply with the terms of the Letter of Credit or (ii) such Issuing Bank’s willful failure to make lawful payment under a Letter of Credit after the
presentation to it of a draft and certificates strictly complying with the terms and conditions of the Letter of Credit. In furtherance and not in limitation of the foregoing, such Issuing Bank may accept documents that appear on their face to be in
order, without responsibility for further investigation, regardless of any notice or information to the contrary. 
 SECTION
9.22. No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), each
of the Borrower and Holdings acknowledges (on its own behalf and on behalf of its Affiliates) and agrees that (i) (A) the arranging and other services regarding this Agreement provided by the Agents and the Lenders are arm’s-length commercial
transactions between the Borrower, Holdings and their respective Affiliates, on the one hand, and the Agents and the Lenders, on the other hand, (B) each of the Borrower and Holdings has consulted its own legal, accounting, regulatory and tax
advisors to the extent it has deemed appropriate, and (C) each of the Borrower and Holdings is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan
Documents; (ii) (A) each of the Agents and the Lenders is and has been acting solely as a principal and has not been, is not and will not be acting as an advisor, agent or fiduciary for the Borrower, Holdings, any of their respective Affiliates or
any other Person and (B) none of the Agents or the Lenders has any obligation to the Borrower, Holdings or any of their respective Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein
and in the other Loan Documents; and (iii) the Agents, the Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Borrower, Holdings and their respective
Affiliates, and none of the Agents or the Lenders has any obligation to disclose any of such interests to the Borrower, Holdings or any of their respective Affiliates. To the fullest extent permitted by applicable law, each of the Borrower and
Holdings hereby waives and releases any claims that it may have against the Agent and the Lenders with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. 

SECTION 9.23. Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary
in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Lender that is an EEA Financial Institution arising under any Loan Document, to the extent
such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

 

	(a)	the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any Lender that is an EEA Financial Institution; and


  

	(b)	the effects of any Bail-in Action on any such liability, including, if applicable: 

  

	 	(i)	a reduction in full or in part or cancellation of any such liability; 


  
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	 	(ii)	a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise
conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or 


 

	 	(iii)	the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority. 


SECTION 9.24. Reaffirmation of Loan Documents. The Loan Parties hereby acknowledge and reaffirm each of the Loan Parties’
obligations, duties, covenants and liabilities, including, without limitation, each guaranty, pledge and grant of security interest, under or in connection with the Loan Documents as defined in the First Amended and Restated Credit Agreement (the
“Original Loan Documents”). The Loan Parties hereby represent, warrant and agree that (a) the current amount due under the Loan Documents as of August 1, 2016 is $1,455 million, (b) as of the date hereof, there are no claims, demands,
offsets or defenses at law or in equity that would defeat or diminish any present and unconditional right of the Agent to collect the indebtedness or other amounts due and owing evidenced by, or arising in connection with, the Original Loan
Documents and to proceed to enforce the rights and remedies available to the Agent pursuant to the Original Loan Documents or under Applicable Law, and (c) they each affirmatively waive any and all claims, demands, offsets or defenses at law or in
equity that would defeat or diminish any present and unconditional right of the Agent to collect the indebtedness or other amounts due and owing evidenced by, or arising in connection with, the Original Loan Documents and to proceed to enforce the
rights and remedies available to the Agent pursuant to the Original Loan Documents or under Applicable Law that would exist absent this waiver. 

SECTION 9.25. Effect of Amendment and Restatement. This Agreement shall, except as otherwise expressly set forth herein,
supersede the Original Credit Agreement from and after the Closing Date with respect to the transactions hereunder with respect to the Loans and Letters of Credit outstanding under the Original Credit Agreement as of the Closing Date. The
parties hereto acknowledge and agree that (i) the Liens and security interests in favor of the Collateral Agent (for the benefit of the Secured Parties) as in effect prior to the Closing Date are in all respects continuing in full force and effect
with respect to all Obligations, (ii) all references in the other Loan Documents to the Credit Agreement shall automatically and without need of any further amendment be deemed to refer to this Agreement and (iii) the First Lien Intercreditor
Agreement, the Second Lien Intercreditor Agreement, the Pari Passu Intercreditor Agreement and the ABL Intercreditor Agreement shall continue to govern the Liens created by the Loan Documents. In the event of a conflict between First Lien
Intercreditor Agreement, the Second Lien Intercreditor Agreement, the Pari Passu Intercreditor Agreement and the ABL Intercreditor Agreement and this Agreement, the applicable intercreditor agreement shall control. 

[Signature Pages Follow] 

  
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 IN WITNESS WHEREOF, the undersigned, intending to be legally bound hereby, have duly executed
this Agreement as of the date first set forth above. 
  

					
	BORROWER:
	
	CLAIRE’S STORES, INC.
		
	By:	 	 /s/ J. Per Brodin

		 	Name:	 	J. Per Brodin
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer
	
	 HOLDINGS:

	
	 CLAIRE’S INC.

		
	By:	 	 /s/ J. Per Brodin

		 	Name:	 	J. Per Brodin
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer


  

					
	GUARANTORS:
	
	BMS DISTRIBUTING CORP.
		
	By:	 	 /s/ J. Per Brodin

		 	Name:	 	J. Per Brodin
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer
	
	 CBI DISTRIBUTING CORP.

		
	By:	 	 /s/ J. Per Brodin

		 	Name:	 	J. Per Brodin
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer









					
	
	CLAIRE’S BOUTIQUES, INC.
		
	By:	 	 /s/ J. Per Brodin

		 	Name:	 	J. Per Brodin
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer
	
	CLAIRE’S CANADA CORP.
		
	By:	 	 /s/ J. Per Brodin

		 	Name:	 	J. Per Brodin
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer
	
	CLAIRE’S PUERTO RICO CORP.
		
	By:	 	 /s/ J. Per Brodin

		 	Name:	 	J. Per Brodin
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer
	
	CSI CANADA LLC
		
	By:	 	 /s/ J. Per Brodin

		 	Name:	 	J. Per Brodin
		 	Title:	 	Manager








 
					
	 CREDIT SUISSE AG, CAYMAN ISLANDS

BRANCH, as Administrative Agent and a Lender

		
	By:	 	 /s/ Bryan J. Matthews

		 	Name:	 	Bryan J. Matthews
		 	Title:	 	Authorized Signatory
		
	By:	 	 /s/ Jeremy Roberts Stern

		 	Name:	 	Jeremy Roberts Stern
		 	Title:	 	Authorized Signatory









 
					
	 GOLDMAN SACHS BANK USA, as a Lender

		
	By:	 	 /s/ Rebecca Kratz

		 	Name:	 	Rebecca Kratz
		 	Title:	 	Authorized Signatory


  







 
					
	 ING CAPITAL LLC, as a Lender

		
	By:	 	 /s/ Ian Nyi

		 	Name:	 	Ian Nyi
		 	Title:	 	Vice President
		
	By	 	 /s/ Joe McAdams

		 	Name:	 	Joe McAdams
		 	Title:	 	Managing Director









 
					
	 JPMORGAN CHASE BANK, N.A., as a Lender

		
	By:	 	 /s/ Neil R. Boylan

		 	Name:	 	Neil R. Boylan
		 	Title:	 	Managing Director









 
					
	ROYAL BANK OF CANADA, as a Lender
		
	By:	 	 /s/ Leslie P. Vowell

		 	Name:	 	Leslie P. Vowell
		 	Title:	 	Attorney-in-Fact


  
  
  







 EXHIBIT A 

[FORM OF] 
 ASSIGNMENT
AND ACCEPTANCE 
 This Assignment and Acceptance (the “Assignment and Acceptance”) is dated as of the Effective
Date set forth below and is entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the “Assignee”). Capitalized terms used but not defined
herein shall have the meanings given to them in the Credit Agreement identified below (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), receipt of a copy of
which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Acceptance as if set forth herein
in full. 
 For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby
irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i) all of the
Assignor’s rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of
such outstanding rights and obligations of the Assignor under the respective facilities identified below (including any guarantees included in such facilities) and (ii) to the extent permitted to be assigned under applicable law, all claims, suits,
causes of action and any other right of the Assignor (in its capacity as a Lender) against any person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto
or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and
obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as the “Assigned Interest”). Such sale and
assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Acceptance, without representation or warranty by the Assignor. 
  

					
	1.	  	Assignor:	  	  

			
	2.	  	Assignee:	  	  

		  	[and is an Affiliate/Approved Fund of [identify Lender]1
			
	3.	  	Borrower:	  	Claire’s Stores, Inc.
			
	4.	  	Administrative Agent:	  	Credit Suisse AG, Cayman Islands Branch as administrative agent under the Credit Agreement.

  

	1 	Select as applicable. 









					
	5.	  	Credit Agreement:	  	Second Amended and Restated Loan Credit Agreement, dated as of August 12, 2016 and effective as of September 20, 2016 (as the same may be further amended, restated, amended and restated, supplemented or otherwise modified from time
to time), among Claire’s Store’s Inc., a Florida corporation (the “Borrower”), the Lenders party thereto from time to time and Credit Suisse AG, Cayman Islands Branch, as Administrative Agent for the
Lenders.
			
	6.	  	Assigned Interest:	  	

  

													
	 Facility
	  	Aggregate Amount of
Loans	 	  	Amount of Loans
Assigned	 	  	Percentage Assigned of
Loans2	 
	 Term Loan Facility
	  	$	            	  	  	$	            	  	  	 	            	% 
	 Revolving Facility
	  	$	            	  	  	$	            	  	  	 	            	% 

 Effective Date:             , 20     [TO
BE INSERTED BY THE ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR]. 

 

	2 	Set forth, to at least 9 decimals, as a percentage of the Loans of all Lenders thereunder. 


  
 A-2 








 The terms set forth in this Assignment and Acceptance are hereby agreed to: 

 

			
	ASSIGNOR
		
		 	[NAME OF ASSIGNOR]
		
		 	By:
		
		 	  

		 	Name:
		 	Title:
	
	ASSIGNEE
		
		 	[NAME OF ASSIGNEE]
		
		 	By:
		
		 	  

		 	Name:
		 	Title:


 [Acknowledged:]3 

 

			
	 CREDIT SUISSE AG, Cayman Islands Branch,

as Administrative Agent


		
	By:	 	
		
		 	  

		 	Name:
		 	Title:
		
	By:	 	
		
		 	  

		 	Name:
		 	Title:

  

	3 	To be added only if the acknowledgment of the Administrative Agent is required pursuant to Section 9.04 of the Credit Agreement. 


  
 A-3 








 [Consented to:]4 

 

			
	[CLAIRE’S STORES, INC.]
		
	By:	 	
		
		 	  

		 	Name:
		 	Title:

  

	4 	To be added only if the consent of the Borrower is required pursuant to Section 9.04 of the Credit Agreement. 


  
 A-4 








 ANNEX 1 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ACCEPTANCE 

1. Representations and Warranties. 

1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned Interest,
(ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim, (iii) its Commitment, and the outstanding balances of its Loans, in each case without giving effect to assignments thereof which have not become effective,
are as set forth herein, and (iv) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Acceptance and to consummate the transactions contemplated hereby; and (b) assumes no responsibility
with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan
Documents or any collateral thereunder, (iii) the financial condition of the Borrower, any of its Subsidiaries or Affiliates or any other person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrower, any of
its Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Loan Document. 
 1.2
Assignee. The Assignee (a) represents and warrants that (i) it is an eligible Assignee and has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Acceptance and to consummate the
transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it satisfies the requirements, if any, specified in the Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest and
become a Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it has
received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 5.04 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own
credit analysis and decision to enter into this Assignment and Acceptance and to purchase the Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other
Lender, and (v) if it is a Foreign Lender, attached to the Assignment and Acceptance is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that
(i) it will, independently and without reliance on the Administrative Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking
or not taking action under the Loan Documents, (ii) it appoints and authorizes the Administrative Agent to take such action on its behalf and to exercise such powers under the Credit Agreement as are delegated to the Administrative Agent, by the
terms thereof, together with such powers as are reasonably incidental thereto, and (iii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender.


  
 A-5 








 2. Payments. From and after the Effective Date, the Administrative Agent shall make
all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and to the Assignee for amounts which have
accrued from and after the Effective Date. 
 3. General Provisions. This Assignment and Acceptance shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Acceptance may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed
counterpart of a signature page of this Assignment and Acceptance by facsimile shall be effective as delivery of a manually executed counterpart of this Assignment and Acceptance. This Assignment and Acceptance shall be construed in accordance with
and governed by the laws of the State of New York. 

  
 A-6 








 EXHIBIT C-1 

[FORM OF] 
 BORROWING
REQUEST 
  

			
	Date:1	 	            ,        
		
	To:	 	 Credit Suisse AG, Cayman Islands Branch
 Eleven
Madison Avenue
 New York, NY 10010


 Ladies and Gentlemen: 

Reference is made to the Second Amended and Restated Credit Agreement, dated as of August 12, 2016 and effective as of September 20,
2016 (as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Claire’s Inc. (formerly known as Bauble Holdings Corp.), a Delaware
corporation, Claire’s Stores, Inc., a Florida corporation (the “Borrower”), the Lenders from time to time party thereto (“Lenders”) and Credit Suisse AG, Cayman Islands Branch, as administrative
agent for the Lenders (the “Administrative Agent”). Capitalized terms used and not defined herein have the meanings ascribed to such terms in the Credit Agreement. This notice constitutes a Borrowing Request, and the Borrower
hereby requests a Borrowing under the Credit Agreement, and in connection therewith, the Borrower specifies the following information with respect to such Borrowing: 
  

	 	1.	The Borrowing will be a Borrowing of             
Loan.2 

  

	 	2.	The Business Day of the proposed Borrowing is         . 

  

	 	3.	The aggregate amount of the proposed Borrowing is $        . 

  

	 	4.	The Borrowing is comprised of $         of ABR Loans and $         of Eurocurrency Loans. 


 

	 	5.	The duration of the Interest Period for the Eurocurrency Loans, if any, included in the Borrowing shall be              months. 


 

	 	6.	The location and number of Borrower’s account to which the proceeds of such Borrowing are to be disbursed is             . 


 

	1 	Must be received by the Administrative Agent no later than (a) 12:00 p.m., Local Time three (3) Business Days prior to the proposed Borrowing in the case of a Eurocurrency Borrowing and (b) 12:00 p.m., Local
Time one (1) Business Day before the date of the proposed Borrowing, in the case of an ABR Borrowing; provided, that any such notice of an ABR Borrowing to finance the reimbursement of an L/C Disbursement as contemplated by Section 2.05(e) may
be given not later than 10:00 a.m., Local Time, on the date of the proposed Borrowing. 


	2 	Specify Revolving Loans and/or Other Revolving Loans. 








 This Borrowing Request is issued pursuant to and is subject to the Credit Agreement. The Borrower
named below hereby represents and warrants that the conditions specified in paragraphs (b) and (c) of Section 4.01 of the Credit Agreement are satisfied. 
  

			
	Very truly yours,
	
	CLAIRE’S STORES, INC.
		
	By:	 	  

		 	Name:
		 	Title:









 EXHIBIT C-3 

[FORM OF] 
 LETTER OF
CREDIT REQUEST 
 Credit Suisse AG, Cayman Islands Branch, 

as Administrative Agent for 
 the
Lenders referred to below 
 Eleven Madison Avenue 
 New York,
NY 10010 
 Attention: Agency Group Manager 

[DATE]1 

To:             ,2 as Letter of Credit Issuer

 [Address] 
 Attention: 

Ladies and Gentlemen: 
 Reference is made to the
Second Amended and Restated Credit Agreement, dated as of August 12, 2016 and effective as of September 20, 2016 (as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, the
“Credit Agreement”), among Claire’s Inc. (formerly known as Bauble Holdings Corp.), a Delaware corporation, Claire’s Stores, Inc., a Florida corporation (the “Borrower”), the Lenders from
time to time party thereto (“Lenders”) and Credit Suisse AG, Cayman Islands Branch, as administrative agent for the Lenders (the “Administrative Agent”). Capitalized terms used and not defined herein
have the meanings ascribed to such terms in the Credit Agreement. 
 The undersigned hereby requests that
                    ,3 as Letter of Credit Issuer, issue a Letter of Credit for the account of
                    4 on
            , 20    5 (the “Date of Issuance”) in the aggregate stated amount of
                    .6 The requested Letter of Credit shall be denominated in
                    7 and will be a [Standby Letter of Credit][Trade Letter of Credit]. 

The beneficiary of the requested Letter of Credit will be
                    8 and the address of such beneficiary is
                    . The Letter of Credit will have a stated expiration date of
            , 20    .9 The Letter of Credit will support
                    .10 

 

	1 	Request date must be a Business Day and must be received by the Administrative Agent three Business Days in advance of the requested date of issuance, amendment or extension or such shorter period as the Administrative
Agent and the Issuing Bank in their sole discretion may agree. 


	2 	Insert name of Letter of Credit Issuer. 


	3 	Insert name of Letter of Credit Issuer. 


	4 	Insert name of Credit Party the Letter of Credit is being issued on behalf of. 


	5 	Insert proposed issuance date. 


	6 	Insert stated amount of Letter of Credit. 


	7 	Dollars or an Alternate Currency. 


	8 	Insert name and address of beneficiary. 


	9 	Insert the last date upon which drafts may be presented in accordance with the Credit Agreement. 


	10 	Insert brief description of obligations to be supported by the Letter of Credit. 


  
 C-3 - 1 








 The undersigned hereby certifies that, on the date of this Letter of Credit Request and on the
Date of Issuance, the conditions to issuance of any Letter of Credit specified in Section 4.01 of the Credit Agreement have been satisfied. 

Copies of all documentation reasonably requested by the Administrative Agent and/or the Issuing Bank with respect to the supported transaction
are attached hereto. 
  

			
	[CLAIRE’S STORES, INC.]11
		
	By:	 	  

		 	Name:
		 	Title:


  

	11 	Insert name of Credit Party if different than the Borrower. 


  
 C-3 - 2 








 EXHIBIT D 

[FORM OF] 
 INTEREST
ELECTION REQUEST 
 Credit Suisse AG, Cayman Islands Branch, 

as Administrative Agent 
 for the Lenders referred
to below 
 Eleven Madison Avenue 
 New York, New York 10010

 Attention: Agency Group 
 [DATE] 

Ladies and Gentlemen: 
 Reference is made to the
Second Amended and Restated Credit Agreement, dated as of August 12, 2016 and effective as of September 20, 2016 (as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, the
“Credit Agreement”), among Claire’s Inc. (formerly known as Bauble Holdings Corp.), a Delaware corporation, Claire’s Stores, Inc., a Florida corporation (the “Borrower”), the Lenders from
time to time party thereto (“Lenders”), and Credit Suisse AG, Cayman Islands Branch, as administrative agent for the Lenders (the “Administrative Agent”). Capitalized terms used and not defined herein
have the meanings ascribed to such terms in the Credit Agreement. 
 This notice constitutes a notice of conversion or notice of
continuation, as applicable (an “Election”), under Section 2.07 of the Credit Agreement, and the Borrower hereby irrevocably notifies the Administrative Agent of the following information with respect to the conversion or
continuation requested hereby: 
  

					
	(i)	  	Borrowing to which Interest Election applies:	 	
		  	Principal Amount:	 	  

		  	Type (ABR/Eurocurrency):	 	  

		  	Interest Period (if Eurocurrency):	 	  

			
	(ii)	  	Effective Date of Election:	 	  

			
	(iii)	  	Resulting Borrowings(s)	 	
		  	 Resulting Borrowing (1)
	 	
		  	 Principal Amount (or % of Borrowing in (1))
	 	  

		  	 Type (ABR/Eurocurrency):
	 	  

		  	 Interest Period (if Eurocurrency):
	 	  

			
		  	 Resulting Borrowing (2)1
	 	
		  	 Principal Amount (or % of Borrowing in (i))
	 	  

		  	 Type (ABAR/Eurocurrency):
	 	  

		  	 Interest Period (if Eurocurrency):
	 	  


  

	1 	Add as many resulting Borrowings as applicable. 


  
 D-1 








 The undersigned certifies, represents and warrants on behalf of the Borrower that the Borrower is
entitled to receive the requested continuation or conversion under the terms and conditions of the Credit Agreement. 
  

			
	CLAIRE’S STORES, INC.
		
	By:	 	  

		 	Name:
		 	Title:



  
 D-2 








 EXECUTION VERSION 

AMENDED AND RESTATED 
 GUARANTEE
AND COLLATERAL AGREEMENT 
 Dated as of August 12, 2016, 

Effective as of September 20, 2016, 

among 
 CLAIRE’S INC., 

CLAIRE’S STORES, INC., 
 as
Borrower, 
 each Subsidiary Loan Party, 

and 
 CREDIT SUISSE AG, CAYMAN
ISLANDS BRANCH, 
 as Administrative Agent 







 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	
	ARTICLE I	  
	DEFINITIONS	  
			
	 Section 1.01.
	 	 Credit Agreement
	  	 	1	  
	 Section 1.02.
	 	 Other Defined Terms
	  	 	1	  
	
	ARTICLE II	  
	GUARANTEE	  
			
	 Section 2.01.
	 	 Guarantee
	  	 	4	  
	 Section 2.02.
	 	 Guarantee of Payment
	  	 	5	  
	 Section 2.03.
	 	 No Limitations, Etc
	  	 	5	  
	 Section 2.04.
	 	 Reinstatement
	  	 	6	  
	 Section 2.05.
	 	 Agreement To Pay; Contribution; Subrogation
	  	 	6	  
	 Section 2.06.
	 	 Information
	  	 	7	  
	 Section 2.07.
	 	 Maximum Liability
	  	 	7	  
	 Section 2.08.
	 	 Payment Free and Clear of Taxes
	  	 	7	  
	
	ARTICLE III	  
	PLEDGE OF SECURITIES	  
			
	 Section 3.01.
	 	 Pledge
	  	 	8	  
	 Section 3.02.
	 	 Delivery of the Pledged Collateral
	  	 	8	  
	 Section 3.03.
	 	 Representations, Warranties and Covenants
	  	 	10	  
	 Section 3.04.
	 	 Registration in Nominee Name; Denominations
	  	 	11	  
	 Section 3.05.
	 	 Voting Rights; Dividends and Interest, Etc
	  	 	12	  
	
	ARTICLE IV	  
	SECURITY INTERESTS IN OTHER PERSONAL PROPERTY	  
			
	 Section 4.01.
	 	 Security Interest
	  	 	13	  
	 Section 4.02.
	 	 Representations and Warranties
	  	 	16	  
	 Section 4.03.
	 	 Covenants
	  	 	18	  
	 Section 4.04.
	 	 Other Actions
	  	 	21	  
	 Section 4.05.
	 	 Covenants Regarding Patent, Trademark and Copyright Collateral
	  	 	21	  
	
	ARTICLE V	  
	REMEDIES	  
			
	 Section 5.01.
	 	 Remedies Upon Default
	  	 	23	  
	 Section 5.02.
	 	 Application of Proceeds
	  	 	24	  


  
 -i- 









 TABLE OF CONTENTS 

(continued) 
  


							
	 	 	 	  	Page	 
			
	 Section 5.03.
	 	 Securities Act, Etc
	  	 	25	  
	
	ARTICLE VI	  
	INDEMNITY, SUBROGATION AND SUBORDINATION	  
			
	 Section 6.01.
	 	 Indemnity
	  	 	26	  
	 Section 6.02.
	 	 Contribution and Subrogation
	  	 	26	  
	 Section 6.03.
	 	 Subordination; Subrogation
	  	 	27	  
	
	ARTICLE VII	  
	MISCELLANEOUS	  
			
	 Section 7.01.
	 	 Notices
	  	 	29	  
	 Section 7.02.
	 	 Security Interest Absolute
	  	 	29	  
	 Section 7.03.
	 	 Limitation By Law
	  	 	29	  
	 Section 7.04.
	 	 Binding Effect; Several Agreement
	  	 	29	  
	 Section 7.05.
	 	 Successors and Assigns
	  	 	30	  
	 Section 7.06.
	 	 Administrative Agent’s Fees and Expenses; Indemnification
	  	 	30	  
	 Section 7.07.
	 	 Administrative Agent Appointed Attorney-in-Fact
	  	 	31	  
	 Section 7.08.
	 	 GOVERNING LAW
	  	 	31	  
	 Section 7.09.
	 	 Waivers; Amendment
	  	 	31	  
	 Section 7.10.
	 	 WAIVER OF JURY TRIAL
	  	 	32	  
	 Section 7.11.
	 	 Severability
	  	 	32	  
	 Section 7.12.
	 	 Counterparts
	  	 	32	  
	 Section 7.13.
	 	 Headings
	  	 	32	  
	 Section 7.14.
	 	 Jurisdiction; Consent to Service of Process
	  	 	32	  
	 Section 7.15.
	 	 Termination or Release
	  	 	33	  
	 Section 7.16.
	 	 Additional Subsidiaries
	  	 	34	  
	 Section 7.17.
	 	 Right of Set-off
	  	 	34	  
	 Section 7.18.
	 	Intercreditor Agreements	  	 	34	  

  

  
 -ii- 








 AMENDED AND RESTATED GUARANTEE AND COLLATERAL AGREEMENT dated as of August 12, 2016, and
effective as of September 20, 2016 (this “Agreement”), among CLAIRE’S INC., a Delaware corporation (“Holdings”), CLAIRE’S STORES, INC., a Florida corporation (the “Borrower”), each
Subsidiary Loan Party and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as administrative agent and collateral agent (in such capacities, the “Administrative Agent”) for the Secured Parties (as defined below). 

Reference is made to the Second Amended and Restated Credit Agreement dated as of August 12, 2016, and effective as of September 20,
2016 (as amended, restated, amended and restated, supplemented, waived or otherwise modified from time to time, the “Credit Agreement”), among Holdings, the Borrower, the Lenders party thereto from time to time and the
Administrative Agent. 
 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 and the Subsidiary Loan Parties are affiliates of the Borrower, will
derive substantial benefits from the extension of credit to the Borrower pursuant to the Credit Agreement and are willing to execute and deliver this Agreement in order to induce the Lenders to extend such credit. Accordingly, the parties
hereto hereby agree as follows: 
 ARTICLE I 

DEFINITIONS 
 Section
1.01.    Credit Agreement. (a) Capitalized terms used in this Agreement and not otherwise defined herein have the respective meanings assigned thereto in the Credit Agreement. All capitalized terms defined in the
New York UCC (as defined herein) and not defined in this Agreement have the meanings specified therein. The term “instrument” shall have the meaning specified in Article 9 of the New York UCC. 

(b)    The rules of construction specified in Section 1.02 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: 
 “ABL Intercreditor Agreement” has the meaning assigned to such term in the Credit Agreement.

“Account Debtor” means any person who is or who may become obligated to any Pledgor under, with respect to or on account of
an Account, Chattel Paper, General Intangibles, Instruments or Investment Property. 
 “Article 9 Collateral” has the
meaning assigned to such term in Section 4.01. 
 “Collateral” means the collective reference to Article 9 Collateral and
Pledged Collateral. 







 “Copyright License” means any written agreement, now or hereafter in effect, any
right granting any right to any Pledgor under any Copyright now or hereafter owned by any third party, and all rights of any Pledgor under any such agreement (including, without limitation, any such rights that such Pledgor has the right to
license). 
 “Copyrights” means all of the following now owned or hereafter acquired by any Pledgor: (a) all copyright
rights in any work subject to the copyright laws of the United States or any other country, whether as author, assignee, transferee or otherwise, (b) all registrations and applications for registration of any such Copyright in the United States or
any other country, including registrations, supplemental registrations and pending applications for registration in the United States Copyright Office and the right to obtain all renewals thereof, including those listed on Schedule II, (c)
all claims for, and rights to sue for, past or future infringements of any of the foregoing and (d) all income, royalties, damages and payments now or hereafter due and payable with respect to any of the foregoing, including damages and payments for
past or future infringement thereof. 
 “Credit Agreement” has the meaning assigned to such term in the preliminary
statement of this Agreement. 
 “Federal Securities Laws” has the meaning assigned to such term in Section 5.03. 

“General Intangibles” means all “General Intangibles” as defined in the New York UCC, including all choses in
action and causes of action and all other intangible personal property of any Pledgor of every kind and nature (other than Accounts) now owned or hereafter acquired by any Pledgor, including corporate or other business records, indemnification
claims, contract rights (including rights under leases, whether entered into as lessor or lessee, Swap Agreements and other agreements), Intellectual Property (but excluding “intent-to-use” applications for trademark or service mark
registrations filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. § 1051, unless and until an Amendment to Allege Use or a Statement of Use under Sections 1(e) and 1(d) of the Lanham Act has been filed, to the extent that, and solely
during the period for which, any assignment of an “intent-to-use” application prior to such filing would violate the Lanham Act), goodwill, registrations, franchises, tax refund claims and any guarantee, claim, security interest or other
security held by or granted to any Pledgor to secure payment by an Account Debtor of any of the Accounts. 
 “Guarantors”
means Holdings (prior to a Borrower Qualified IPO), and the Subsidiary Loan Parties. 
 “Intellectual Property” means all
intellectual property of every kind and nature now owned or hereafter acquired by any Pledgor, including inventions, designs, Patents, Copyrights, Trademarks, Patent Licenses, Copyright Licenses, Trademark Licenses, trade secrets, domain names,
confidential or proprietary technical and business information, know-how, show-how or other data or information and all related documentation. 

“Intellectual Property Security Agreement” means a security agreement in the form hereof or a short form hereof, in each
case, which form shall be reasonably acceptable to the Administrative Agent. 

  
 2 








 “IP Agreements” means all material Copyright Licenses, Patent Licenses,
Trademark Licenses, and all other agreements, permits, consents, orders and franchises relating to the license, development, use or disclosure of any material Intellectual Property to which a Pledgor, now or hereafter, is a party or a beneficiary,
including, without limitation, the agreements set forth on Schedule II hereto. 
 “Loan Document Obligations” has
the meaning assigned to such term in the Credit Agreement. 
 “New York UCC” means the Uniform Commercial Code as from time
to time in effect in the State of New York. 
 “Obligations” has the meaning assigned to such term in the Credit Agreement.

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

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

“Permitted Liens” means any Lien permitted by Section 6.02 of the Credit Agreement. 

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

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

“Pledged Securities” means any promissory notes, stock certificates or other certificated securities now or hereafter
included in the Pledged Collateral, including all certificates, instruments or other documents representing or evidencing any Pledged Collateral. 

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

“Pledgor” shall mean the Borrower and each Guarantor. 

  
 3 








 “Secured Parties” means (a) the Lenders (and any Affiliate of a Lender
designated by the Borrower as a provider of cash management services to which any obligation referred to in clause (c) of the definition of the term Obligations is owed), (b) the Administrative Agent, (c) each Issuing Bank, (d) each
counterparty to any Swap Agreement entered into with a Loan Party or any Affiliate of a Loan Party, the obligations under which constitute Obligations, (e) the beneficiaries of each indemnification obligation undertaken by any Loan Party under any
Loan Document and (f) the successors and permitted assigns of each of the foregoing. 
 “Security Interest” has the meaning
assigned to such term in Section 4.01. 
 “Subsidiary Loan Party” means any Subsidiary that is a party hereto or any
Subsidiary that becomes a party hereto pursuant to Section 7.16. 
 “Trademark License” means any written agreement, now or
hereafter in effect, granting to any Pledgor any right to use any Trademark now or hereafter owned by any third party (including, without limitation, any such rights that such Pledgor has the right to license). 

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

ARTICLE II 
 GUARANTEE 

Section 2.01.    Guarantee. Each Guarantor unconditionally guarantees, jointly with the other Guarantors and
severally, to the Administrative Agent, for the ratable benefit of the Secured Parties, as a primary obligor and not merely as a surety, the due and punctual payment and performance of the Obligations. Each Guarantor further agrees that the
Obligations may be extended or renewed, in whole or in part, without notice to or further assent from it, and that it will remain bound upon its guarantee notwithstanding any extension or renewal of any Obligation. Each Guarantor waives
presentment to, demand or payment from and protest to the Borrower or any other Loan Party of any of the Obligations, and also waives notice of acceptance of its guarantee and notice of protest for nonpayment. 

  
 4 








 Section 2.02.    Guarantee of Payment. Each Guarantor further
agrees that its guarantee hereunder constitutes a guarantee of payment when due (whether at the stated maturity, by acceleration or otherwise) and not of collection, and waives any right to require that any resort be had by the Administrative Agent
or any other Secured Party to any security held for the payment of the Obligations or to any balance of any deposit account or credit on the books of the Administrative Agent or any other Secured Party in favor of the Borrower or any other person.

 Section 2.03.    No Limitations, Etc. (a) Except for termination of a Guarantor’s obligations
hereunder as expressly provided for in Section 7.15 and except as provided in Section 2.07, the obligations of each Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including any claim
of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of the Obligations or
otherwise (other than defense of payment or performance). Without limiting the generality of the foregoing, the obligations of each Guarantor hereunder, to the fullest extent permitted by applicable law, shall not be discharged or impaired or
otherwise affected by, and each Guarantor hereby waives any defense to the enforcement hereof by reason of: 

(i)    the failure of the Administrative Agent or any other Secured Party to assert any claim or demand or
to exercise or enforce any right or remedy under the provisions of any Loan Document or otherwise; 

(ii)    any rescission, waiver, amendment or modification of, increase in the Obligations with respect to,
or any release from any of the terms or provisions of, any Loan Document or any other agreement, including with respect to any other Guarantor under this Agreement; 

(iii)    the failure to perfect any security interest in, or the exchange, substitution, release or any
impairment of, any security held by the Administrative Agent or any other Secured Party for the Obligations; 

(iv)    any default, failure or delay, willful or otherwise, in the performance of the Obligations; 

(v)    any other act or omission that may or might in any manner or to any extent vary the risk of any
Guarantor or otherwise operate as a discharge of any Guarantor as a matter of law or equity (other than the payment in full in cash or immediately available funds of all the Obligations); 

(vi)    any illegality, lack of validity or enforceability of any Obligation; 

(vii)    any change in the corporate existence, structure or ownership of any Loan Party, or any
insolvency, bankruptcy, reorganization or other similar proceeding affecting any Loan Party or its assets or any resulting release or discharge of any Obligation; 

  
 5 








 (viii)    the existence of any claim, set-off or other rights
that the Guarantors may have at any time against the Borrower, the Administrative Agent, any other Secured Party or any other person, whether in connection herewith or any unrelated transactions; provided that nothing herein will prevent the
assertion of any such claim by separate suit or compulsory counterclaim; 
 (ix)    any action permitted
or authorized hereunder; or 
 (x)    any other circumstance (including without limitation, any statute
of limitations) or any existence of or reliance on any representation by the Administrative Agent or any other Secured Party that might otherwise constitute a defense to, or a legal or equitable discharge of, the Borrower or any Guarantor or any
other guarantor or surety. 
 Each Guarantor expressly authorizes the Secured Parties to take and hold security for the payment and performance of the
Obligations, to exchange, waive or release any or all such security (with or without consideration), to enforce or apply such security and direct the order and manner of any sale thereof in their sole discretion or to release or substitute any one
or more other guarantors or obligors upon or in respect of the Obligations, all without affecting the obligations of any Guarantor hereunder. 

(b)    To the fullest extent permitted by applicable law, each Guarantor waives any defense based on or arising out of any
defense of any other Loan Party or the unenforceability of the Obligations or any part thereof from any cause, or the cessation from any cause of the liability of any other Loan Party, other than the payment in full in cash or immediately available
funds of all the Obligations (other than contingent or unliquidated obligations or liabilities). The Administrative Agent and the other Secured Parties may, at their election, foreclose on any security held by one or more of them by one or more
judicial or nonjudicial sales, accept an assignment of any such security in lieu of foreclosure, compromise or adjust any part of the Obligations, make any other accommodation with any other Loan Party or exercise any other right or remedy available
to them against any other Loan Party, without affecting or impairing in any way the liability of any Guarantor hereunder except to the extent the Obligations (other than contingent or unliquidated obligations or liabilities) have been paid in full
in cash or immediately available funds. To the fullest extent permitted by applicable law, each Guarantor waives any defense arising out of any such election even though such election operates, pursuant to applicable law, to impair or to
extinguish any right of reimbursement or subrogation or other right or remedy of such Guarantor against any other Loan Party, as the case may be, or any security. 

Section 2.04.    Reinstatement. Each Guarantor agrees that its guarantee hereunder shall continue to be
effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Administrative Agent or any other Secured Party upon the bankruptcy or reorganization of
the Borrower or any other Loan Party or otherwise. 
 Section 2.05.    Agreement To Pay; Contribution;
Subrogation. In furtherance of the foregoing and not in limitation of any other right that the Administrative Agent or any other Secured Party has at law or in equity against any Guarantor by virtue hereof, upon the failure of


  
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the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice of prepayment or otherwise, each Guarantor hereby promises to and will
forthwith pay, or cause to be paid, to the Administrative Agent for distribution to the applicable Secured Parties in cash or immediately available funds the amount of such unpaid Obligation. Each Guarantor hereby unconditionally and
irrevocably agrees that in the event any payment shall be required to be made to any Secured Party under this guarantee or any other guarantee, such Guarantor will contribute, to the maximum extent permitted by law, such amounts to each other
Guarantor and each other guarantor so as to maximize the aggregate amount paid to the Secured Parties under or in respect of the Loan Documents. Upon payment by any Guarantor of any sums to the Administrative Agent as provided above, all rights
of such Guarantor against the Borrower, or other Loan Party or any other Guarantor arising as a result thereof by way of right of subrogation, contribution, reimbursement, indemnity or otherwise shall in all respects be subject to Article VI. 

Section 2.06.    Information. Each Guarantor assumes all responsibility for being and keeping itself informed
of the financial condition and assets of the Borrower and each other, Loan Party, and of all other circumstances bearing upon the risk of nonpayment of the Obligations and the nature, scope and extent of the risks that such Guarantor assumes and
incurs hereunder, and agrees that none of the Administrative Agent or the other Secured Parties will have any duty to advise such Guarantor of information known to it or any of them regarding such circumstances or risks. 

Section 2.07.    Maximum Liability. Each Guarantor, and by its acceptance of this guarantee, the
Administrative Agent and each Secured Party hereby confirms that it is the intention of all such Persons that this guarantee and the Obligations of each Guarantor hereunder not constitute a fraudulent transfer or conveyance for purposes of the U.S.
Bankruptcy Code or any other federal, state or foreign bankruptcy, insolvency, receivership or similar law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar foreign, federal or state law to the extent
applicable to this guarantee and the Obligations of each Guarantor hereunder. To effectuate the foregoing intention, the Administrative Agent, the Secured Parties and the Guarantors hereby irrevocably agree that the Obligations of each
Guarantor under this guarantee at any time shall be limited to the maximum amount as will result in the Obligations of such Guarantor under this guarantee not constituting a fraudulent transfer or conveyance. 

Section 2.08.    Payment Free and Clear of Taxes. Any and all payments by or on account of any obligation of
any Guarantor hereunder or under any other Loan Document shall be made free and clear of, and without deduction for, any Indemnified Taxes or Other Taxes on the same terms and to the same extent that payments by any Loan Party are required to be
made pursuant to the terms of Section 2.17 of the Credit Agreement. The provisions of Section 2.17 of the Credit Agreement shall apply to each Guarantor mutatis mutandis. 

  
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 ARTICLE III 

PLEDGE OF SECURITIES 
 Section
3.01.    Pledge. As security for the payment or performance, as the case may be, in full of its Obligations, each Pledgor hereby assigns and pledges to the Administrative Agent, its successors and permitted assigns,
for the ratable benefit of the Secured Parties, and hereby grants to the Administrative Agent, its successors and permitted assigns, for the ratable benefit of the Secured Parties, a security interest in all of such Pledgor’s right, title and
interest in, to and under (a) the Equity Interests directly owned by it (including those listed on Schedule I) and any other Equity Interests obtained in the future by such Pledgor and any certificates representing all such Equity Interests (the
“Pledged Stock”); provided that the Pledged Stock shall not include (i)(A) more than 65% of the issued and outstanding voting Equity Interests of any “first tier” Foreign Subsidiary directly owned by such Pledgor, (B) more
than 65% of the issued and outstanding voting Equity Interests of any “first tier” Qualified CFC Holding Company directly owned by such Pledgor, (C) any issued and outstanding Equity Interest of any Foreign Subsidiary that is not a first
tier Foreign Subsidiary, or (D) any issued and outstanding Equity Interests of any Qualified CFC Holding Company that is not a “first tier” Qualified CFC Holding Company, (ii) to the extent applicable law requires that a Subsidiary of such
Pledgor issue directors’ qualifying shares or similar shares, such shares or nominee or other similar shares, (iii) any Equity Interests with respect to which a grant of security is not required by reason of Section 5.10(g) of the Credit
Agreement, or (iv) any Equity Interests of a Subsidiary (which Subsidiary is set forth on Schedule 1.01A to the Credit Agreement) to the extent that, as of the Second Restatement Effective Date, and for so long as, such a pledge of such Equity
Interests would violate applicable law or an enforceable contractual obligation binding on or relating to such Equity Interests; (b)(i) the debt obligations listed opposite the name of such Pledgor on Schedule I, (ii) any debt securities in the
future issued to such Pledgor and (iii) the certificates, promissory notes and any other instruments, if any, evidencing such debt securities (the “Pledged Debt Securities”); (c) subject to Section 3.05 hereof, all payments of
principal or interest, dividends, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of, in exchange for or upon the conversion of, and all other proceeds received in respect of, the
property referred to in clauses (a) and (b) above; (d) subject to Section 3.05 hereof, all rights and privileges of such Pledgor with respect to the securities and other property referred to in clauses (a), (b) and (c) above; and (e) all proceeds of
any of the foregoing (the items referred to in clauses (a) through (e) above being collectively referred to as the “Pledged Collateral”). 

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 ratable benefit of the Secured Parties, forever; subject, however, to the terms, covenants and conditions hereinafter set forth. 

Section 3.02.    Delivery of the Pledged Collateral. (a) Each Pledger agrees promptly to deliver or cause to
be delivered to the Administrative Agent, for the ratable benefit of the Secured Parties, any and all Pledged Securities to the extent such Pledged Securities are either (i) Equity Interests or (ii) promissory notes or other instruments evidencing
Indebtedness required to be delivered pursuant to paragraph (b) of this Section 3.02. If any Pledged Stock that 

  
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is uncertificated on the Second Restatement Effective shall hereafter become certificated, the applicable Pledgor shall promptly cause the certificate or certificates representing Pledged Stock
to be delivered to the Administrative Agent, as agent for the Secured Parties, together with the accompanying stock powers or other documentation required by Section 3.02(c). None of the Pledgors shall permit any other party to
“control” (for purposes of Section 8-106 of the New York UCC (or any analogous provision of the Uniform Commercial Code in effect in the jurisdiction whose law applies)) any uncertificated securities that constitute Pledged Collateral
other than the Administrative Agent, as agent for the Secured Parties. 
 (b)    Each Pledgor will cause any
Indebtedness for borrowed money having an aggregate principal amount in excess of $5.0 million (other than (i) intercompany current liabilities incurred in the ordinary course of business in connection with the cash management operations of
Holdings, the Borrower and its Subsidiaries or (ii) to the extent that a pledge of such promissory note or instrument would violate applicable law) owed to such Pledgor by any person to be evidenced by a duly executed promissory note that is pledged
and delivered to the Administrative Agent, for the ratable benefit of the Secured Parties, pursuant to the terms hereof. To the extent any such promissory note is a demand note, each Pledgor party thereto agrees, if requested by the Administrative
Agent, to immediately demand payment thereunder upon an Event of Default specified under Section 7.01(b), (c), (f), (h) or (i) of the Credit Agreement unless such demand would not be commercially reasonable or would otherwise expose such Pledgor to
liability to the maker. 
 (c)    Upon delivery to the Administrative Agent, (i) any Pledged Securities required to be
delivered pursuant to the foregoing paragraphs (a) and (b) of this Section 3.02 shall be accompanied by stock powers or note powers, as applicable, duly executed in blank or other instruments of transfer reasonably satisfactory to the Administrative
Agent and by such other instruments and documents as the Administrative Agent may reasonably request and (ii) all other property comprising part of the Pledged Collateral delivered pursuant to the terms of this Agreement shall be accompanied to the
extent necessary to perfect the security interest in or allow realization on the Pledged Collateral by proper instruments of assignment duly executed by the applicable Pledgor and such other instruments or documents (including issuer acknowledgments
in respect of uncertificated securities) as the Administrative Agent may reasonably request. Each delivery of Pledged Securities shall be accompanied by a schedule describing the securities, which schedule shall be attached hereto as
Schedule I (or a supplement to Schedule I, as applicable) and made a part hereof; provided that failure to attach any such schedule hereto shall not affect the validity of such pledge of such Pledged Securities. Each schedule so
delivered shall supplement any prior schedules so delivered. 
 (d)    In the event any Pledged Securities constitute
uncertificated securities and the issuer thereof is not a party hereto, the applicable Pledgor shall, pursuant to an agreement in form and substance reasonably satisfactory to the Administrative Agent, either (i) cause such issuer to agree to comply
with instructions from the Administrative Agent without further consent of any Pledgor or (ii) cause such issuer to register the Administrative Agent as the registered owner of such uncertificated security. 

  
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 Section 3.03.    Representations, Warranties and Covenants. The
Pledgors, jointly and severally, represent, warrant and covenant to and with the Administrative Agent, for the ratable benefit of the Secured Parties, that: 

(a)    Schedule I correctly sets forth the percentage of the issued and outstanding shares of each class of the
Equity Interests of the issuer thereof represented by such Pledged Stock and includes all Equity Interests, debt securities and promissory notes or instruments evidencing Indebtedness required to be (i) pledged in order to satisfy the Collateral and
Guarantee Requirement, or (ii) delivered pursuant to Section 3.02(b); 
 (b)    the Pledged Stock and Pledged Debt
Securities (solely with respect to Pledged Debt Securities issued by a person that is not a Subsidiary of Holdings or an Affiliate of any such subsidiary, to the best of each Pledgor’s knowledge) have been duly and validly authorized and issued
by the issuers thereof and (i) in the case of Pledged Stock, are fully paid and nonassessable (other than with respect to Pledged Stock consisting of membership interests of limited liability companies to the extent provided in Sections 18-502 and
18-607 of the Delaware Limited Liability Company Act) and (ii) in the case of Pledged Debt Securities (solely with respect to Pledged Debt Securities issued by a person that is not a Subsidiary of Holdings or an Affiliate of any such subsidiary, to
the best of each Pledgor’s knowledge) are legal, valid and binding obligations of the issuers thereof, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or
affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding at law or in equity) and an implied covenant of good faith and fair dealing; 

(c)    except for the security interests granted hereunder, each Pledgor (i) is and, subject to any transfers made in
compliance with the Credit Agreement, will continue to be the direct owner, beneficially and of record, of the Pledged Securities indicated on Schedule I as owned by such Pledgor, (ii) holds the same free and clear of all Liens, other than
Permitted Liens, (iii) will make no assignment, pledge, hypothecation or transfer of, or create or permit to exist any security interest in or other Lien on, the Pledged Collateral, other than pursuant to a transaction permitted by the Credit
Agreement and other than Permitted Liens and (iv) subject to the rights of such Pledgor under the Loan Documents to dispose of Pledged Collateral, will use commercially reasonable efforts to defend its title or interest hereto or therein against any
and all Liens (other than Permitted Liens), however arising, of all persons; 
 (d)    other than as set forth in the
Credit Agreement or the schedules thereto, and except for restrictions and limitations imposed by the Loan Documents or securities laws generally or otherwise permitted to exist pursuant to the terms of the Credit Agreement, the Pledged Stock (other
than partnership interests) is and will continue to be freely transferable and assignable, and none of the Pledged Stock is or will be subject to any option, right of first refusal, shareholders agreement, charter or by-law provisions or contractual
restriction of any nature that might prohibit, impair, delay or otherwise affect the pledge of such Pledged Stock hereunder, the sale or disposition thereof pursuant hereto or the exercise by the Administrative Agent of rights and remedies
hereunder; 
 (e)    each Pledgor has the power and authority to pledge the Pledged Collateral pledged by it hereunder
in the manner hereby done or contemplated; 

  
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 (f)    other than as set forth in the Credit Agreement or the schedules
thereto, no consent or approval of any Governmental Authority, any securities exchange or any other person was or is necessary to the validity of the pledge effected hereby (other than such as have been obtained and are in full force and effect);

 (g)    by virtue of the execution and delivery by the Pledgors of this Agreement, when any Pledged Securities
(including Pledged Stock of any Domestic Subsidiary, or any Qualified CFC Holding Company) are delivered to the Administrative Agent, for the ratable benefit of the Secured Parties, in accordance with this Agreement and a financing statement
covering such Pledged Securities is filed in the appropriate filing office, the Administrative Agent will obtain, for the ratable benefit of the Secured Parties, a legal, valid and perfected lien upon and security interest in such Pledged Securities
under the New York UCC, subject only to Permitted Liens, as security for the payment and performance of the Obligations; 

(h)    each Pledgor that is an issuer of the Pledged Collateral confirms that it has received notice of the security
interest granted hereunder and consents to such security interest and agrees to transfer record ownership of the securities issued by it in connection with any request by the Administrative Agent; and 

(i)    the Pledgors shall not amend, or permit to be amended, the limited liability company agreement (or operating
agreement or similar agreement) or partnership agreement of any Subsidiary of any Loan Party whose Equity Interests are, or are required to be, Collateral in a manner to cause such Equity Interests to not constitute a security under Section 8-103 of
the New York UCC or the corresponding code or statute of any other applicable jurisdiction unless such Loan Party shall have first delivered 30 days written notice to the Administrative Agent and shall have taken all actions contemplated hereby and
as otherwise reasonably required by the Administrative Agent to maintain the security interest of the Administrative Agent therein as a valid, perfected, first priority security interest (subject to Permitted Liens). 

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

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

(i)    Each Pledgor shall be entitled to exercise any and all voting and/or other consensual rights and
powers inuring to an owner of Pledged Collateral or any part thereof for any purpose consistent with the terms of this Agreement, the Credit Agreement and the other Loan Documents; provided that, except as permitted under the Credit
Agreement, such rights and powers shall not be exercised in any manner that could materially and adversely affect the rights inuring to a holder of any Pledged Collateral, the rights and remedies of any of the Administrative Agent or the other
Secured Parties under this Agreement, the Credit Agreement or any other Loan Document or the ability of the Secured Parties to exercise the same. 

(ii)    The Administrative Agent shall promptly execute and deliver to each Pledgor, or cause to be
executed and delivered to such Pledgor, all such proxies, powers of attorney and other instruments as such Pledgor may reasonably request for the purpose of enabling such Pledgor to exercise the voting and/or consensual rights and powers it is
entitled to exercise pursuant to subparagraph (i) above. 
 (iii)    Each Pledgor shall be entitled to
receive and retain any and all dividends, interest, principal and other distributions paid on or distributed in respect of the Pledged Collateral to the extent and only to the extent that such dividends, interest, principal and other distributions
are permitted by, and otherwise paid or distributed in accordance with, the terms and conditions of the Credit Agreement, the other Loan Documents and applicable laws; provided that (A) any noncash dividends, interest, principal or other
distributions, payments or other consideration in respect thereof, including any rights to receive the same to the extent not so distributed or paid, that would constitute Pledged Securities, whether resulting from a subdivision, combination or
reclassification of the outstanding Equity Interests of the issuer of any Pledged Securities, received in exchange for Pledged Securities or any part thereof, or in redemption thereof, as a result of any merger, consolidation, acquisition or other
exchange of assets to which such issuer may be a party or otherwise and (B) any non-cash dividends and other distributions paid or payable in respect of any Pledged Securities that would constitute Pledged Securities in .connection with a partial or
total liquidation or dissolution or in connection with a reduction of capital, capital surplus or paid in surplus, shall be and become part of the Pledged Collateral, and, if received by any Pledgor, shall not be commingled by such Pledgor with any
of its other funds or property but shall be held separate and apart therefrom, shall be held in trust for the benefit of the Administrative Agent, for the ratable benefit of the Secured Parties, and shall be forthwith delivered to the Administrative
Agent, for the ratable benefit of the Secured Parties, in the same form as so received (endorsed in a manner reasonably satisfactory to the Administrative Agent). 

(b)    Upon the occurrence and during the continuance of an Event of Default and after notice by the Administrative Agent
to the Borrower of the Administrative Agent’s intention to exercise its rights hereunder, all rights of any Pledgor to dividends, interest, principal or other distributions that such Pledgor is authorized to receive pursuant to paragraph
(a)(iii) of this Section 3.05 shall cease, and all such rights shall thereupon become vested, for the ratable 

  
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benefit of the Secured Parties, in the Administrative Agent which shall have the sole and exclusive right and authority to receive and retain such dividends, interest, principal or other
distributions; provided, however, that even after the occurrence of an Event of Default, any Pledgor may continue to exercise dividend and distribution rights solely to the extent permitted under subclause (i), subclause (iii) and
subclause (v) of Section 6.06(b) of the Credit Agreement. All dividends, interest, principal or other distributions received by any Pledgor contrary to the provisions of this Section 3.05 shall not be commingled by such Pledgor with any of its
other funds or property but shall be held separate and apart therefrom, shall be held in trust for the benefit of the Administrative Agent, for the ratable benefit of the Secured Parties, and shall be forthwith delivered to the Administrative Agent,
for the ratable benefit of the Secured Parties in the same form as so received (endorsed in a manner reasonably satisfactory to 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 shall be applied in accordance with the
provisions of Section 5.02 hereof. After all Events of Default have been cured or waived and the Borrower has delivered to the Administrative Agent a certificate to that effect, the Administrative Agent shall promptly repay to each Pledgor
(without interest) all dividends, interest, principal or other distributions that such Pledgor would otherwise be permitted to retain pursuant to the terms of paragraph (a)(iii) of this Section 3.05 and that remain in such account. 

(c)    Upon the occurrence and during the continuance of an Event of Default and after notice by the Administrative Agent
to the Borrower of the Administrative Agent’s intention to exercise its rights hereunder, all rights of any Pledgor to exercise the voting and/or consensual rights and powers it is entitled to exercise pursuant to paragraph (a)(i) of this
Section 3.05, and the obligations of the Administrative Agent under paragraph (a)(ii) of this Section 3.05, shall cease, and all such rights shall thereupon become vested in the Administrative Agent, for the ratable benefit of the Secured Parties,
which shall have the sole and exclusive right and authority to exercise such voting and consensual rights and powers; provided that, 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 Pledgors to exercise such rights. After all Events of Default have been cured or waived and the Borrower has delivered to the Administrative Agent a certificate to
that effect, each Pledgor shall have the right to exercise the voting and/or consensual rights and powers that such Pledgor would otherwise be entitled to exercise pursuant to the terms of paragraph (a)(i) above. 

ARTICLE IV 
 SECURITY INTERESTS IN
OTHER PERSONAL PROPERTY 
 Section 4.01.    Security Interest. (a) As security for the payment or
performance when due (whether at the stated maturity, by acceleration or otherwise), as the case may be, in full of the Obligations, each Pledgor hereby assigns and pledges to the Administrative Agent, its successors and permitted assigns, for the
ratable benefit of the Secured Parties, and hereby grants to the Administrative Agent, its successors and permitted assigns, for the ratable benefit of the Secured Parties, a security interest (the “Security Interest”) in all right,
title and interest in or to any and all of the following assets and properties now owned or at any time hereafter acquired 

  
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by such Pledgor or in which such Pledgor now has or at any time in the future may acquire any right, title or interest (collectively, the “Article 9 Collateral”): 

(i)    all Accounts; 

(ii)    all Chattel Paper; 

(iii)    all cash and Deposit Accounts; 

(iv)    all Documents; 

(v)    all Equipment; 

(vi)    all General Intangibles; 

(vii)    all Instruments; 

(viii)    all Inventory; 

(ix)    all Investment Property; 

(x)    all Letter of Credit Rights; 

(xi)    all Commercial Tort Claims; 

(xii)    all other personal property not otherwise described above (except for property specifically
excluded from any defined term used in any of the foregoing clauses); 
 (xiii)    all books and records
pertaining to the Article 9 Collateral; and 
 (xiv)    to the extent not otherwise included, all
proceeds, Supporting Obligations and products of any and all of the foregoing and all collateral security and guarantees given by any person with respect to any of the foregoing. 

Notwithstanding anything to the contrary in this Agreement, this Agreement shall not constitute a grant of a security interest in, and the definitions of
“Security Interest” and “Article 9 Collateral” shall not include, (a) any vehicle covered by a certificate of title or ownership, whether now owned or hereafter acquired, (b) any assets (including Equity Interests), whether now
owned or hereafter acquired, with respect to which the Collateral and Guarantee Requirement or the other paragraphs of Section 5.10 of the Credit Agreement would not be required to be satisfied by reason of Section 5.10(g) of the Credit Agreement if
hereafter acquired, (c) any property excluded from the definition of Pledged Collateral by virtue of the proviso to Section 3.01 hereof, (d) any Letter of Credit Rights to the extent any Pledgor is required by applicable law to apply the proceeds of
a drawing of such Letter of Credit for a specified purpose, (e) any Pledgor’s right, title or interest in any license, contract or agreement to which such Pledgor is a party or any of its right, title or interest thereunder to the extent, but
only to the extent, that such a grant would, under the terms of such license, contract or agreement, 

  
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result in a breach of the terms of, or constitute a default under, or result in the abandonment, invalidation or unenforceability of, any license, contract or agreement to which such Pledgor is a
party (other than to the extent that any such term would be rendered ineffective pursuant to Section 9-406, 9-407, 9-408 or 9-409 of the New York UCC or any other applicable law (including, without limitation, Title 11 of the United States Code) or
principles of equity); provided that immediately upon the ineffectiveness, lapse or termination of any such provision, the Collateral shall include, and such Pledgor shall be deemed to have granted a security interest in, all such rights and
interests as if such provision had never been in effect, or (f) any Equipment owned by any Pledgor that is subject to a purchase money lien or a Capital Lease Obligation if the contract or other agreement in which such Lien is granted (or the
documentation providing for such Capital Lease Obligation) prohibits or requires the consent of any person other than the Pledgors as a condition to the creation of any other security interest on such Equipment. 

(b)    Each Pledgor hereby irrevocably authorizes the Administrative Agent at any time and from time to time to file in
any relevant jurisdiction any initial financing statements (including fixture filings) with respect to the Article 9 Collateral or any part thereof and amendments thereto that contain the information required by Article 9 of the Uniform Commercial
Code of each applicable jurisdiction for the filing of any financing statement or amendment, including (i) whether such Pledger is an organization, the type of organization and any organizational identification number issued to such Pledgor, (ii) in
the case of a financing statement filed as a fixture filing, a sufficient description of the real property to which such Article 9 Collateral relates and (iii) a description of collateral that describes such property in any other manner as the
Administrative Agent may reasonably determine is necessary or advisable to ensure the perfection of the security interest in the Article 9 Collateral granted under this Agreement, including describing such property as “all assets” or
“all property”. Each Pledgor agrees to provide such information to the Administrative Agent promptly upon request. 
 The
Administrative Agent is further authorized to file with the United States Patent and Trademark Office or United States Copyright Office (or any successor office) such documents as may be reasonably necessary or advisable for the purpose of
perfecting, confirming, continuing, enforcing or protecting the Security Interest granted by each Pledgor’ without the signature of such Pledgor, and naming such Pledgor or the Pledgors as debtors and the Administrative Agent as secured
party. Notwithstanding anything to the contrary herein, no Pledgor shall be required to take any action under the laws of any jurisdiction other than the United States (or any political subdivision thereof) and its territories and possessions
for the purpose of perfecting the Security Interest in any Article 9 Collateral of such Pledgor constituting Patents, Trademarks or Copyrights unless required by the Administrative Agent, in its reasonable discretion. 

(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 Pledgor with respect to or arising out of the Article 9 Collateral. 

  
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 Section 4.02.    Representations and Warranties. The Pledgors
jointly and severally represent and warrant to the Administrative Agent and the Secured Parties that: 
 (a)    Each
Pledgor has good and valid rights in and title to the Article 9 Collateral with respect to which it has purported to grant a Security Interest hereunder and has full power and authority to grant to the 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 other person other than any consent or approval that has been
obtained and is in full force and effect or has otherwise been disclosed herein or in the Credit Agreement. 

(b)    The information set forth in the schedules attached hereto is correct and complete, in all material respects, as of
the Second Restatement Effective Date. The Uniform Commercial Code financing statements (including fixture filings, as applicable) or other appropriate filings, recordings or registrations containing a description of the Article 9 Collateral
that have been prepared by the Administrative Agent for filing in each governmental, municipal or other office specified in Schedule III (or specified by notice from the Borrower to the Administrative Agent after the Second Restatement
Effective Date in the case of filings, recordings or registrations required by Section 5.10 of the Credit Agreement) constitute all the filings, recordings and registrations (except to the extent that filings are required to be made in the United
States Patent and Trademark Office and the United States Copyright Office, or any similar office in any other jurisdiction, in order to perfect the Security Interest in Article 9 Collateral consisting of United States Patents, United States
registered Trademarks and United States registered Copyrights) that are necessary to publish notice of and protect the validity of and to establish a legal, valid and perfected security interest in favor of the Administrative Agent (for the ratable
benefit of the Secured Parties) in respect of all Article 9 Collateral in which the Security Interest may be perfected by filing, recording or registration in the United States (or any political subdivision thereof) and its territories and
possessions, and no further or subsequent filing, refiling, recording, rerecording, registration or reregistration is necessary in any such jurisdiction, except as provided under applicable law with respect to the filing of continuation statements
or amendments. Each Pledgor represents and warrants that a fully executed Intellectual Property Security Agreement containing a description of all Article 9 Collateral consisting of Intellectual Property with respect to United States Patents
(and Patents for which United States applications are pending), United States registered Trademarks (and Trademarks for which United States registration applications are pending) and United States registered Copyrights (and Copyrights for which
United States registration applications are pending) has been delivered to the Administrative Agent for recording with the United States Patent and Trademark Office and the United States Copyright Office pursuant to 35 U.S.C. § 261, 15 U.S.C.
§ 1060 or 17 U.S.C. § 205 and the regulations thereunder, as applicable, and reasonably requested by the Administrative Agent, to protect the validity of and to establish a legal, valid and perfected security interest in favor of the
Administrative Agent, for the ratable benefit of the Secured Parties, in respect of all Article 9 Collateral consisting of such Intellectual Property in which a security interest may be perfected by recording with the United States Patent and
Trademark Office and the United States Copyright Office, and no further or subsequent filing, refiling, recording, rerecording, registration or reregistration is necessary (other than the Uniform Commercial Code financings statements referred to
above, and other than such actions as are necessary to perfect the Security Interest with respect to any Article 9 Collateral consisting of United States Patents, Trademarks and Copyrights (or registration or application for registration thereof)
acquired or developed after the Second Restatement Effective Date). 

  
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 (c)    The Security Interest constitutes (i) a legal and valid security
interest in all the Article 9 Collateral securing the payment and performance of the Obligations, (ii) subject to the filings described in Section 4.02(b), a perfected security interest in all Article 9 Collateral in which a security interest may be
perfected by filing, recording or registering a financing statement or analogous document in the United States (or any political subdivision thereof) and its territories and possessions pursuant to the Uniform Commercial Code or other applicable law
in such jurisdictions and (iii) a security interest that shall be perfected in all Article 9 Collateral in which a security interest may be perfected upon the receipt and recording of the Intellectual Property Security Agreement with the United
States Patent and Trademark Office and the United States Copyright Office, as applicable. The Security Interest is and shall be prior to any other Lien on any of the Article 9 Collateral other than Permitted Liens. 

(d)    The Article 9 Collateral is owned by the Pledgors free and clear of any Lien, other than Permitted Liens. None
of the Pledgors has filed or consented to the filing of (i) any financing statement or analogous document under the Uniform Commercial Code or any other applicable laws covering any Article 9 Collateral, (ii) any assignment in which any Pledgor
assigns any Article 9 Collateral or any security agreement or similar instrument covering any Article 9 Collateral with the United States Patent and Trademark Office or the United States Copyright Office or (iii) any assignment in which any Pledgor
assigns any Article 9 Collateral or any security agreement or similar instrument covering any Article 9 Collateral with any foreign governmental, municipal or other office, which financing statement or analogous document, assignment, security
agreement or similar instrument is still in effect, except, in each case, for Permitted Liens. 
 (e)    None of the
Pledgors holds any Commercial Tort Claim individually in excess of $5.0 million as of the Second Restatement Effective Date except as indicated on Schedule IV. 

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

(g)    As to itself and its Article 9 Collateral consisting of Intellectual Property (the “Intellectual Property
Collateral”), to the best of each Pledgor’s knowledge: 
 (i)    The Intellectual Property
Collateral set forth on Schedule II includes all of the material Patents (and Patents for which United States applications are pending), domain names, registered Trademarks, (and Trademarks for which United States registration applications
are pending), registered Copyrights (and Copyrights for which United States registration applications are pending) and material IP Agreements owned by such Pledgor as of the Second Restatement Effective Date. 

(ii)    The Intellectual Property Collateral is subsisting and has not been adjudged invalid or
unenforceable in whole or part (except for office actions issued in the ordinary course by the United States Patent and Trademark Office or any similar office in any foreign jurisdiction), and, to the best of such Pledgor’s knowledge, is valid
and enforceable, except as would not reasonably be expected to have a Material Adverse Effect.

  
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 (iii)    Such Pledgor has made or performed all commercially
reasonable acts, including without limitation filings, recordings and payment of all required fees and taxes, required to maintain and protect its interest in each and every item of Intellectual Property Collateral in full force and effect in the
United States and such Pledgor has used proper statutory notice in connection with its use of each Patent, Trademark and Copyright in the Intellectual Property Collateral, in each case, except to the extent that the failure to do so would not
reasonably be expected to have a Material Adverse Effect. 
 (iv)    With respect to each IP Agreement,
the absence, termination or violation of which would reasonably be expected to have a Material Adverse Effect: (A) such Pledgor has not received any notice of termination or cancellation under such IP Agreement; (B) such Pledgor has not
received any notice of a breach or default under such IP Agreement, which breach or default has not been cured or waived; and (C) neither such Pledgor nor any other party to such IP Agreement is in breach or default thereof in any material respect,
and no event has occurred that, with notice or lapse of time or both, would constitute such a breach or default or permit termination, modification or acceleration under such IP Agreement. 

(v)    Except as would not reasonably be expected to have a Material Adverse Effect, no Pledgor or
Intellectual Property Collateral is subject to any outstanding consent, settlement, decree, order, injunction, judgment or ruling restricting the use of any Intellectual Property Collateral or that would impair the validity or enforceability of such
Intellectual Property Collateral. 
 Section 4.03.    Covenants. (a) Each Pledgor agrees to provide at least
10 days’ prior written notice to the Administrative Agent of any change (i) in its corporate or organization name, (ii) in its identity or type of organization or corporate structure, (iii) in its Federal Taxpayer Identification Number or
organizational identification number or (iv) in its “location” (determined as provided in UCC Section 9-307). Each Pledgor agrees promptly to provide the Administrative Agent with certified organizational documents reflecting any of
the changes described in the immediately preceding sentence. Each Pledgor agrees not to effect or permit any change referred to in the first sentence of this paragraph (a) unless all filings have been made, or will have been made within any
applicable statutory period, under the Uniform Commercial Code or otherwise that are required in order for the Administrative Agent to continue at all times following such change to have a valid, legal and perfected first priority security interest
in all the Article 9 Collateral (subject only to Permitted Liens), for the ratable benefit of the Secured Parties. Each Pledgor agrees promptly to notify the Administrative Agent if any material portion of the Article 9 Collateral owned or held
by such Pledgor is damaged or destroyed. 
 (b)    Subject to the rights of such Pledgor under the Loan Documents to
dispose of Collateral, each Pledgor shall, at its own expense, use commercially reasonable efforts to defend title to the Article 9 Collateral against all persons and to defend the Security Interest of the Administrative Agent, for the ratable
benefit of the Secured Parties, in the Article 9 Collateral and the priority thereof against any Lien that is not a Permitted Lien. 

  
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 (c)    Each Pledgor agrees, at its own expense, to execute, acknowledge,
deliver and cause to be duly filed all such further instruments and documents and take all such actions 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 required in connection with the execution and delivery of this Agreement and the granting of the Security Interest and the filing of any financing statements
(including fixture filings) or other documents in connection herewith or therewith. If any amount payable under or in connection with any of the Article 9 Collateral that is in excess of $5.0 million shall be or become evidenced by any
promissory note or other instrument, such note or instrument shall be promptly pledged and delivered to the Administrative Agent, for the ratable benefit of the Secured Parties, duly endorsed in a manner reasonably satisfactory to the Administrative
Agent. 
 Without limiting the generality of the foregoing, each Pledgor hereby authorizes the Administrative Agent, with prompt notice
thereof to the Pledgors, to supplement this Agreement by supplementing Schedule II or adding additional schedules hereto to specifically identify any asset or item that may constitute material Copyrights, Patents, Trademarks, or IP
Agreements; provided that any Pledgor shall have the right, exercisable within 30 days after the Borrower has been notified by the Administrative Agent of the specific identification of such Article 9 Collateral, to advise the Administrative
Agent in writing of any inaccuracy of the representations and warranties made by such Pledgor hereunder with respect to such Article 9 Collateral. Each Pledgor agrees that it will use its commercially reasonable efforts to take such action as
shall be necessary in order that all representations and warranties hereunder shall be true and correct with respect to such Article 9 Collateral within 30 days after the date it has been notified by the Administrative Agent of the specific
identification of such Article 9 Collateral. 
 (d)    After the occurrence of an Event of Default and during the
continuance thereof, the Administrative Agent shall have the right to verify under reasonable procedures the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Article 9 Collateral, including,
in the case of Accounts or Article 9 Collateral in the possession of any third person, by contacting Account Debtors or the third person possessing such Article 9 Collateral for the purpose of making such a verification. The Administrative
Agent shall have the right to share any information it gains from such inspection or verification with any Secured Party. 

(e)    At its option, the Administrative Agent may discharge past due taxes, assessments, charges, fees, Liens, security
interests or other encumbrances at any time levied or placed on the Article 9 Collateral and not a Permitted Lien, and may pay for the maintenance and preservation of the Article 9 Collateral to the extent any Pledgor fails to do so as required by
the Credit Agreement or this Agreement, and each Pledgor jointly and severally agrees to reimburse the Administrative Agent on demand for any reasonable payment made or any reasonable expense incurred by the Administrative Agent pursuant to the
foregoing authorization; provided, however, that nothing in this Section 4.03(e) shall be interpreted as excusing any Pledgor from the performance of, or imposing any obligation on the Administrative Agent or any Secured


  
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Party to cure or perform, any covenants or other promises of any Pledgor with respect to taxes, assessments, charges, fees, Liens, security interests or other encumbrances and maintenance as set
forth herein or in the other Loan Documents. 
 (f)    Each Pledgor (rather than the Administrative Agent or any Secured
Party) shall remain liable for the observance and performance of all the conditions and obligations to be observed and performed by it under each contract, agreement or instrument relating to the Article 9 Collateral and each Pledgor jointly and
severally agrees to indemnify and hold harmless the Administrative Agent and the Secured Parties from and against any and all liability for such performance. 

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

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

  
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 Section 4.04.    Other Actions. In order to further ensure the
attachment, perfection and priority of, and the ability of the Administrative Agent to enforce, for the ratable benefit of the Secured Parties, the Administrative Agent’s security interest in the Article 9 Collateral, each Pledgor agrees, in
each case at such Pledgor’s own expense, to take the following actions with respect to the following Article 9 Collateral: 

(a)    Instruments and Tangible Chattel Paper. If any Pledgor shall at any time hold or acquire any
Instruments (other than checks received and processed in the ordinary course of business) or Tangible Chattel Paper evidencing an amount in excess of $5.0 million, such Pledgor shall forthwith endorse, assign and deliver the same to the
Administrative Agent, accompanied by such instruments of transfer or assignment duly executed in blank as the Administrative Agent may from time to time reasonably request. 

(b)    Investment Property. Except to the extent otherwise provided in Article III, if any Pledgor
shall at any time hold or acquire any Certificated Security, such Pledgor shall forthwith endorse, assign and deliver the same to the Administrative Agent, accompanied by such instruments of transfer or assignment duly executed in blank as the
Administrative Agent may from time to time reasonably specify. If any security of a domestic issuer now owned or hereafter acquired by any Pledgor is uncertificated and is issued to such Pledgor or its nominee directly by the issuer thereof,
such Pledgor shall promptly notify the Administrative Agent of such uncertificated securities and (i) upon the Administrative Agent’s reasonable request or (ii) upon the occurrence and during the continuance of an Event of Default, such Pledgor
shall pursuant to an agreement in form and substance reasonably satisfactory to the Administrative Agent, either (x) cause the issuer to agree to comply with instructions from the Administrative Agent as to such security, without further consent of
any Pledgor or such nominee, or (y) cause the issuer to register the Administrative Agent as the registered owner of such security. 

(c)    Commercial Tort Claims. If any Pledgor shall at any time hold or acquire a Commercial Tort Claim in an
amount reasonably estimated to exceed $5.0 million, such Pledgor shall promptly notify the Administrative Agent thereof in a writing signed by such. Pledgor, including a summary description of such claim, and grant to the Administrative Agent
in writing a security interest therein and in the proceeds thereof, all under the terms and provisions of this Agreement, with such writing to be in form and substance reasonably satisfactory to the Administrative Agent. 

Section 4.05.    Covenants Regarding Patent, Trademark and Copyright Collateral. Except as permitted by the
Credit Agreement: (a) Each Pledgor agrees that it will not knowingly do any act or omit to do any act (and will exercise commercially reasonable efforts to prevent its licensees from doing any act or omitting to do any act) whereby any Patent
that is material to the normal conduct of such Pledgor’s business may become prematurely invalidated, abandoned, lapsed or dedicated to the public, and agrees that it shall take commercially reasonable steps with respect to any material
products covered by any such Patent as necessary and sufficient to establish and preserve its rights under applicable patent laws. 

(b)    Each Pledgor will, and will use its commercially reasonable efforts to cause its licensees or its sublicensees to,
for each material Trademark necessary to the normal conduct of such Pledgor’s business, (i) maintain such Trademark in full force free from any adjudication of abandonment or invalidity for non-use, (ii) maintain the quality of products and
services offered under such Trademark and (iii) not knowingly use or knowingly permit its licensees’ use of such Trademark in violation of any third-party rights. 

  
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 (c)    Each Pledgor will, and will use its commercially reasonable efforts to
cause its licensees or its sublicensees to, for each work covered by a material Copyright necessary to the normal conduct of such Pledgor’s business that it publishes, displays and distributes, use a copyright notice as necessary and sufficient
to establish and preserve its rights under applicable copyright laws. 
 (d)    Each Pledgor shall notify the
Administrative Agent promptly if it knows that any Patent, Trademark or Copyright material to the normal conduct of such Pledgor’s business may imminently become abandoned, lapsed or dedicated to the public, or of any materially adverse
determination or development, excluding office actions and similar determinations or developments in the United States Patent and Trademark Office, United States Copyright Office, any court or any similar office of any country, regarding such
Pledgor’s ownership of any such material Patent, Trademark or Copyright or its right to register or to maintain the same. 

(e)    Each Pledgor, either itself or through any agent, employee, licensee or designee, shall (i) inform the
Administrative Agent on an annual basis of each application filed by itself, or through any agent, affiliate, employee, licensee or designee, for any Patent with the United States Patent and Trademark Office and each application filed by itself, or
through any agent, employee, affiliate, licensee or designee, for registration of any Trademark or Copyright with the United States Patent and Trademark Office, the United States Copyright Office or any comparable office or agency in any other
country filed during the preceding twelve-month period, and (ii) upon the reasonable request of the Administrative Agent, execute and deliver any and all agreements, instruments, documents and papers as the Administrative Agent may reasonably
request to evidence the Administrative Agent’s security interest in such Patent, Trademark or Copyright. 

(f)    Each Pledgor shall exercise its reasonable business judgment consistent with past practice in any proceeding before
the United States Patent and Trademark Office, the United States Copyright Office or any comparable office or agency in any other country with respect to maintaining and pursuing each application relating to any Patent, Trademark and/or Copyright
(and obtaining the relevant grant or registration) material to the normal conduct of such Pledgor’s business and to maintain (i) each issued Patent and (ii) the registrations of each Trademark and each Copyright that is material to the normal
conduct of such Pledgor’s business, including, when applicable and necessary in such Pledgor’s reasonable business judgment, timely filings of applications for renewal, affidavits of use, affidavits of incontestability and payment of
maintenance fees, and, if any Pledgor believes necessary in its reasonable business judgment, to initiate opposition, interference and cancellation proceedings against third parties. 

(g)    In the event that any Pledgor knows or has reason to know that any Article 9 Collateral consisting of a Patent,
Trademark or Copyright material to the normal conduct of its business has been or is about to be materially infringed, misappropriated or diluted by a third party, such Pledgor shall promptly notify the Administrative Agent and shall, if such
Pledgor deems it necessary in its reasonable business judgment, promptly sue and recover any and all damages, and take such other actions as are reasonably appropriate under the circumstances. 

  
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 ARTICLE V 

REMEDIES 
 Section
5.01.    Remedies Upon Default. Upon the occurrence and during the continuance of an Event of Default, each Pledgor agrees to deliver each item of Collateral to the Administrative Agent on demand, and it is agreed
that the Administrative Agent shall have the right to take any of or all the following actions at the same or different times: (a) with respect to any Article 9 Collateral consisting of Intellectual Property, on demand, to cause the Security
Interest to become an assignment, transfer and conveyance of any of or all such Article 9 Collateral by the applicable Pledgors to the Administrative Agent or to license or sublicense, whether general, special or otherwise, and whether on an
exclusive or a nonexclusive basis, any such Article 9 Collateral throughout the world on such terms and conditions and in such manner as the Administrative Agent shall determine (other than in violation of any then-existing licensing arrangements to
the extent that waivers thereunder cannot be obtained with the use of commercially reasonable efforts, which each Pledgor hereby agrees to use) and (b) with or without legal process and with or without prior notice or demand for performance, to take
possession of the Article 9 Collateral and without liability for trespass to the applicable Pledgor to enter any premises where the Article 9 Collateral may be located for the purpose of taking possession of or removing the Article 9 Collateral and,
generally, to exercise any and all rights afforded to a secured party under the applicable Uniform Commercial Code or other applicable law. Without limiting the generality of the foregoing, each Pledgor agrees that the Administrative Agent
shall have the right, subject to the mandatory requirements of applicable law, to sell or otherwise dispose of all or any part of the Collateral at a public or private sale or at any broker’s board or on any securities exchange, for cash, upon
credit or for future delivery as the Administrative Agent shall deem appropriate. The Administrative Agent shall be authorized in connection with any sale of a security (if it deems it advisable to do so) pursuant to the foregoing to restrict
the prospective bidders or purchasers to persons who represent and agree that they are purchasing such security for their own account, for investment, and not with a view to the distribution or sale thereof upon consummation of any such sale of
Collateral pursuant to this Section 5.01, the 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 such sale shall hold the property
sold absolutely, free from any claim or right on the part of any Pledgor, and each Pledgor hereby waives and releases (to the extent permitted by law) all rights of redemption, stay, valuation and appraisal that such Pledgor now has or may at any
time in the future have under any rule of law or statute now existing or hereafter enacted. 
 The Administrative Agent shall give the
applicable Pledgors 10 Business Days’ written notice (which each Pledgor agrees is reasonable notice within the meaning of Section 9-611 of the New York UCC or its equivalent in other jurisdictions) of
the 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 the portion thereof, to be sold may be sold


  
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in one lot as an entirety or in separate parcels, as the Administrative Agent may (in its sole and absolute discretion) 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 same was so adjourned. In the case of any sale of all
or any part of the Collateral made on credit or for future delivery, the Collateral so sold may be retained by the Administrative Agent until the sale price is paid by the purchaser or purchasers thereof, but the Administrative Agent shall not incur
any liability in the event that any such purchaser or purchasers shall fail to take up and pay for the Collateral so sold and, in the case of any such failure, such Collateral may be sold again upon notice given in accordance with provisions
above. At any public (or, to the extent permitted by law, private) sale made pursuant to this Section 5.01, any Secured Party may bid for or purchase in cash, free (to the extent permitted by law) from any right of redemption, stay, valuation
or appraisal on the part of any Pledgor (all such rights being also hereby waived and released to the extent permitted by law), the Collateral or any part thereof offered for sale and may make payment on account thereof by using any claim then due
and payable to such Secured Party from any Pledgor as a credit against the purchase price, and may make payment on account thereof by using any claim then due and payable to such Secured Party from any Pledgor 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 in accordance with Section 5.02 hereof without further accountability to any Pledgor therefor. For purposes hereof, a written
agreement to purchase the Collateral or any portion thereof shall be treated as a sale thereof; the Administrative Agent shall be free to carry out such sale pursuant to such agreement and no Pledgor shall be entitled to the return of the Collateral
or any portion thereof subject thereto, notwithstanding the fact that after the Administrative Agent shall have entered into such an agreement all Events of Default shall have been remedied and the Obligations paid in full. As an alternative to
exercising the power of sale herein conferred upon it, the Administrative Agent may proceed by a suit or suits at law or in equity to foreclose this Agreement and to sell the Collateral or any portion thereof pursuant to a judgment or decree of a
court or courts having competent jurisdiction or pursuant to a proceeding by a court-appointed receiver. Any sale pursuant to the provisions of this Section 5.01 shall be deemed to conform to the commercially reasonable standards as provided in
Section 9-610(b) of the New York UCC or its equivalent in other jurisdictions. 
 Section 5.02.    Application of
Proceeds. The Administrative Agent shall promptly apply the proceeds, moneys or balances of any collection or sale of Collateral, as well as any Collateral consisting of cash, as follows: FIRST, to the payment of all costs and expenses
incurred by the Administrative Agent in connection with such collection or sale or otherwise in connection with this Agreement, any other Loan Document or any of the Obligations, including without limitation all court costs and the fees and expenses
of its agents and legal counsel, the repayment of all advances made by the Administrative Agent hereunder or under any other Loan Document on behalf of any Pledgor, any other costs or expenses incurred in connection with the exercise of any right or
remedy hereunder or under any other Loan Document, and all other fees, indemnities and other amounts owing or reimbursable to the Administrative Agent under any Loan Document in its capacity as such; SECOND, to payment of all fees, indemnities and
other amounts (other than principal and interest) payable to the Issuing Bank in capacity as such and of 

  
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any amount required to be paid to the Issuing Bank by any Revolving Facility Lender pursuant to Section 2.05(e) and (h) of the Credit Agreement and not paid by such Revolving Facility Lender
(which shall be payable to the Administrative Agent if the Administrative Agent advanced such payment to the Issuing Bank in anticipation of such payment by such Revolving Facility Lender and otherwise, to the Issuing Bank); THIRD, to the payment in
full of the Obligations (the amounts so applied to be distributed among the Secured Parties pro rata in accordance with the respective amounts of the Obligations owed to them on the date of any such distribution, which in the case of Letters of
Credit, shall be paid by deposit in an account with the Administrative Agent, in the name of the Administrative Agent and for the benefit of the Issuing Bank and the Lenders, an amount in cash in U.S. Dollars equal to the aggregate Revolving L/C
Exposure as of such date plus any accrued and unpaid interest thereon); and FOURTH, to the Borrower, its successors or assigns, or as a court of competent jurisdiction may otherwise direct. 

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 purchase money by 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. 
 If, after receipt of any payment which
is applied to the payment of all or any part of any Obligations, the Administrative Agent or any Lender is for any reason compelled to surrender such payment or proceeds to any person because such payment or application of proceeds is invalidated,
declared fraudulent, set aside, determined to be void or voidable as a preference, impermissible set-off, or a diversion of trust funds, or for any other reason, then the Obligations or part thereof intended to be satisfied shall be revived and
continued and this Agreement shall continue in full force as if such payment or proceeds had not been received by the Administrative Agent or such Lender and the Borrower shall be liable to pay to the Administrative Agent and the Lenders, and shall
indemnify the Administrative Agent and the Lenders and holds the Administrative Agent and the Lenders harmless for the amount of such payment or proceeds surrendered. The provisions of this paragraph shall be and remain effective
notwithstanding any contrary action which may have been taken by the Administrative Agent or any Lender in reliance upon such payment or application of proceeds, and any such contrary action so taken shall be without prejudice to the Administrative
Agent’s and the Lenders’ rights under this Agreement and shall be deemed to have been conditioned upon such payment or application of proceeds having become final and irrevocable. The provisions of this paragraph shall survive the
termination of this Agreement. 
 Section 5.03.    Securities Act, Etc. In view of the position of the
Pledgors in relation to the Pledged Collateral, or because of other current or future circumstances, a question may arise under the Securities Act of 1933, as now or hereafter in effect, or any similar federal statute hereafter enacted analogous in
purpose or effect (such Act and any such similar statute as from time to time in effect being called the “Federal Securities Laws”) with respect to any disposition of the Pledged Collateral permitted hereunder. Each Pledgor
understands that compliance with the Federal Securities Laws might very strictly limit the course of conduct of 

  
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the Administrative Agent if the Administrative Agent were to attempt to dispose of all or any part of the Pledged Collateral, and might also limit the extent to which or the manner in which any
subsequent transferee of any Pledged Collateral could dispose of the same. Similarly, there may be other legal restrictions or limitations affecting the Administrative Agent in any attempt to dispose of all or part of the Pledged Collateral
under applicable Blue Sky or other state securities laws or similar laws analogous in purpose or effect. Each Pledgor acknowledges and agrees that in light of such restrictions and limitations, the Administrative Agent, in its sole and absolute
discretion, (a) may proceed to make such a sale whether or not a registration statement for the purpose of registering such Pledged Collateral or part thereof shall have been filed under the Federal Securities Laws or, to the extent applicable, Blue
Sky or other state securities laws and (b) may approach and negotiate with a single potential purchaser to effect such sale. Each Pledgor acknowledges and agrees that any such sale might result in prices and other terms less favorable to the
seller than if such sale were a public sale without such restrictions. In the event of any such sale, the Administrative Agent shall incur no responsibility or liability for selling all or any part of the Pledged Collateral at a price that the
Administrative Agent, in its sole and absolute discretion, may in good faith deem reasonable under the circumstances, notwithstanding the possibility that a substantially higher price might have been realized if the sale were deferred until after
registration as aforesaid or if more than a single purchaser were approached. The provisions of this Section 5.03 will apply notwithstanding the existence of a public or private market upon which the quotations or sales prices may exceed
substantially the price at which the Administrative Agent sells. 
 Section 5.04.    License. For the
purpose of enabling the Administrative Agent to exercise its rights and remedies under this Article V or otherwise in connection with this Agreement, each Grantor hereby grants to the Administrative Agent an irrevocable, non-exclusive and assignable
license (exercisable without payment or royalty or other compensation to any Grantor) to use, license or sublicense any Intellectual Property Collateral. 

ARTICLE VI 
 INDEMNITY,
SUBROGATION AND SUBORDINATION 
 Section 6.01.    Indemnity. In addition to all such rights of indemnity and
subrogation as the Guarantors may have under applicable law (but subject to Section 6.03 hereof), the Borrower agrees that (a) in the event a payment shall be made by any Guarantor under this Agreement in respect of any Obligation of the Borrower,
the Borrower shall indemnify such Guarantor for the full amount of such payment and such Guarantor shall be subrogated to the rights of the person to whom such payment shall have been made to the extent of such payment and (b) in the event any
assets of any Guarantor shall be sold pursuant to this Agreement or any other Security Document to satisfy in whole or in part an Obligation of the Borrower, the Borrower shall indemnify such Guarantor in an amount equal to the greater of the book
value or the fair market value of the assets so sold. 
 Section 6.02.    Contribution and Subrogation. Each
Guarantor (other than Holdings) (a “Contributing Guarantor”) agrees (subject to Section 6.03 hereof) that, in the event a payment shall be made by any other Guarantor (other than Holdings) hereunder in respect of any Obligation or
assets of any other Guarantor (other than Holdings and the Borrower) shall be 

  
 26 








 
sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor (the “Claiming Guarantor”) shall not have been fully
indemnified by the Borrower as provided in Section 6.01 hereof, the Contributing Guarantor shall indemnify the Claiming Guarantor in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such
assets, as applicable, in each case multiplied by a fraction of which the numerator shall be the net worth of such Contributing Guarantor on the Second Restatement Effective Date and the denominator shall be the aggregate net worth of all the
Guarantors on the Second Restatement Effective Date (or in the case of any Guarantor becoming a party hereto pursuant to Section 7.16 hereof, the date of the supplement hereto executed and delivered by such Guarantor). Any Contributing
Guarantor making any payment to a Claiming Guarantor pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Guarantor under Section 6.01 hereof to the extent of such payment. 

Section 6.03.    Subordination; Subrogation. (a) Each Guarantor hereby subordinates any and all debts,
liabilities, receivables, advances and other Obligations owed to such Guarantor by each other Loan Party of whatever nature at any time outstanding (the “Subordinated Obligations”) to the Obligations to the extent and in the manner
hereinafter set forth in this Section 6.03: 
 (i)    Prohibited Payments, Etc. Except during
the continuance of an Event of Default, each Guarantor may receive payments, receivables or advances from any other Loan Party on account of the Subordinated Obligations. After the occurrence and during the continuance of any Event of Default,
however, unless the Required Lenders otherwise agree, no Guarantor shall demand, accept or take any action to collect any payment on account of the Subordinated Obligations until the Obligations have been paid in full in cash or immediately
available funds. 
 (ii)    Prior Payment of Guaranteed Obligations. In any proceeding under
the U.S. Bankruptcy Code or any other federal, state or foreign bankruptcy, insolvency, receivership or similar law relating to any other Loan Party, each Guarantor agrees that the Secured Parties shall be entitled to receive payment in full in cash
or immediately available funds of all Obligations (including all interest and expenses accruing after the commencement of a proceeding under any U.S. Bankruptcy Code or any other federal, state or foreign bankruptcy, insolvency, receivership or
similar law, whether or not constituting an allowed claim in such proceeding (Post-Petition Interest)) before such Guarantor receives payment of any Subordinated Obligations. 

(iii)    Turn-Over. After the occurrence and during the continuance of any Event of Default,
each Guarantor shall, if the Administrative Agent so requests, collect, enforce and receive payments on account of the Subordinated Obligations as trustee for the Secured Parties and deliver such payments to the Administrative Agent on account of
the Obligations (including all Post-Petition Interest), together with any necessary endorsements or other instruments of transfer, but without reducing or affecting in any manner the liability of such Guarantor under the other provisions of this
Agreement. 

  
 27 








 (iv)    Administrative Agent Authorization. After
the occurrence and during the continuance of any Event of Default, the Administrative Agent is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of each Guarantor, to collect and enforce, and to
submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the Obligations (including any and all Post-Petition Interest), and (ii) to require each Guarantor (A) to collect and enforce, and to submit
claims in respect of, the Subordinated Obligations and (B) to pay any amounts received on such obligations to the Administrative Agent for application to the Guaranteed Obligations (including any and all Post-Petition Interest). 

(b)    Each Guarantor hereby unconditionally and irrevocably agrees not to exercise any rights that it may now have or
hereafter acquire against the Borrower, any other Loan Party or any other insider guarantor that arise from the existence, payment, performance or enforcement of such Guarantor’s Obligations under or in respect of the guarantee set forth in
Article II or any other Loan Document, including, without limitation, any right of subrogation, reimbursement, exoneration, contribution or indemnification and any right to participate in any claim or remedy of any Secured Party against the
Borrower, any other Loan Party or any other insider guarantor or any Collateral, whether or not such claim, remedy or right arises in equity or under contract, statute or common law, including, without limitation, the right to take or receive from
the Borrower, any other Loan Party or any other insider guarantor, directly or indirectly, in cash or other property or by set-off or in any other manner, payment or security on account of such claim, remedy or right, unless and until all of the
Obligations and all other amounts payable under the guarantee set forth in Article II shall have been paid in full in cash or immediately available funds, all Letters of Credit and all Swap Agreements secured hereunder shall have expired or been
terminated or cash collateralized (pursuant to arrangements reasonably satisfactory to the Administrative Agent and the Issuing Bank) and the Commitments shall have expired, terminated or shall have been cash collateralized (pursuant to arrangements
reasonably satisfactory to the Administrative Agent and the Issuing Bank). If any amount shall be paid to any Guarantor in violation of the immediately preceding sentence at any time prior to the latest of (a) the payment in full in cash or
immediately available funds of the Obligations and all other amounts payable under the guarantee set forth in Article II and (b) the latest date of expiration or termination or cash collateralization of all Letters of Credit and all Swap Agreements
secured hereunder and termination or expiration of all Commitments, such amount shall be received and held in trust for the ratable benefit of the Secured Parties, shall be segregated from other property and funds of such Guarantor and shall
forthwith be paid or delivered to the Administrative Agent in the same form as so received (with any necessary endorsement or assignment) to be credited and applied to the Obligations and all other amounts payable under the guarantee set forth in
Article II, whether matured or unmatured, in accordance with the terms of the Loan Documents, or to be held as Collateral for any Obligations or other amounts payable under such guarantee thereafter arising. If (i) any Guarantor shall make
payment to any Secured Party of all or any part of the Obligations, (ii) all of the Obligations and all other amounts payable under the guarantee set forth in Article II shall have been paid in full in cash or immediately available funds, (iii) the
Revolving Facility Maturity Date shall have occurred and (iv) all Letters of Credit and all Swap Agreements secured hereunder shall have expired or been terminated, the Administrative Agent will, at such Guarantor’s request and expense, execute
and deliver to such Guarantor appropriate documents, without recourse and without representation or warranty, necessary to evidence the transfer by subrogation to such Guarantor of an interest in the Obligations resulting from such payment made by
such Guarantor pursuant to such guarantee. 

  
 28 








 ARTICLE VII 

MISCELLANEOUS 
 Section
7.01.    Notices. All communications and notices hereunder shall (except as otherwise permitted herein) be in writing and given as provided in Section 9.01 of the Credit Agreement. All communications and notices
hereunder to any Subsidiary Loan Party shall be given to it in care of the Borrower, with such notice to be given as provided in Section 9.01 of the Credit Agreement. 

Section 7.02.    Security Interest Absolute. All rights of the Administrative Agent hereunder, the Security
Interest in the Article 9 Collateral, the security interest in the Pledged Collateral and all obligations of each Pledgor hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of the Credit
Agreement, any other Loan Document, any agreement with respect to any of the Obligations or any other agreement or instrument relating to any of the foregoing, (b) any change in the time, manner or place of payment of, or in any other term of, all
or any of the Obligations, or any other amendment or waiver of or any consent to any departure from 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 Obligations or (d) any other circumstance that might otherwise constitute a defense available to, or a
discharge of, any Pledgor in respect of the Obligations or this Agreement (other than a defense of payment or performance). 
 Section
7.03.    Limitation By Law. All rights, remedies and powers provided in this Agreement may be exercised only to the extent that the exercise thereof does not violate any applicable provision of law, and all the
provisions of this Agreement are intended to be subject to all applicable mandatory provisions of law that may be controlling and to be limited to the extent necessary so that they shall not render this Agreement invalid, unenforceable, in whole or
in part, or not entitled to be recorded, registered or filed under the provisions of any applicable law. 
 Section
7.04.    Binding Effect; Several Agreement. This Agreement shall become effective as to any party to this Agreement when a counterpart hereof executed on behalf of such party shall have been delivered to the
Administrative Agent and a counterpart hereof shall have been executed on behalf of the Administrative Agent, and thereafter shall be binding upon such party and the Administrative Agent and their respective permitted successors and assigns, and
shall inure to the benefit of such party, the Administrative Agent and the other Secured Parties and their respective permitted successors and assigns, except that no party shall have the right to assign or transfer its rights or obligations
hereunder or any interest herein or in the Collateral (and any such assignment or transfer shall be void) except as expressly contemplated by this Agreement or the Credit Agreement. This Agreement shall be construed as a separate agreement with
respect to each party and may be amended, modified, supplemented, waived or released with respect to any party without the approval of any other party and without affecting the obligations of any other party hereunder. 

  
 29 








 Section 7.05.    Successors and Assigns. Whenever in this
Agreement any of the .parties hereto is referred to, such reference shall be deemed to include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on behalf of any Pledgor or the Administrative Agent
that are contained in this Agreement shall bind and inure to the benefit of their respective permitted successors and assigns; provided that no Pledgor may assign, transfer or delegate any of its rights or obligations under this Agreement
without the prior written consent of the Administrative Agent. The Administrative Agent hereunder shall at all times be the same person that is the Administrative Agent under the Credit Agreement. Written notice of resignation by the
Administrative Agent pursuant to the Credit Agreement shall also constitute notice of resignation as the Administrative Agent under this Agreement. Upon the acceptance of any appointment as the Administrative Agent under the Credit Agreement by
a successor Administrative Agent, that successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent pursuant hereto. 

Section 7.06.    Administrative Agent’s Fees and Expenses; Indemnification. (a) The
parties hereto agree that the Administrative Agent shall be entitled to reimbursement of its expenses incurred hereunder as provided in Section 9.05 of the Credit Agreement. 

(b)    Without limitation of its indemnification obligations under the other Loan Documents, each Pledgor jointly and
severally agrees to indemnify the Administrative Agent and the other Indemnitees (as defined in Section 9.05 of the Credit Agreement) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related
expenses, including reasonable counsel fees, charges and disbursements, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of, (i) the execution, delivery or performance of this Agreement or any other
Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto and thereto of their respective obligations thereunder or the consummation of the Transactions and other transactions contemplated
hereby, (ii) the use of proceeds of the Loans or the use of any Letter of Credit or (iii) any claim, litigation, investigation or proceeding relating to any of the foregoing, or to the Collateral, whether or not any Indemnitee is a party thereto;
provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable
judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee. 
 (c)    Any such amounts
payable as provided hereunder shall be additional Obligations secured hereby and by the other Security Documents. The provisions of this Section 7.06 shall remain operative and in full force and effect regardless of the termination of this
Agreement or any other Loan Document, the consummation of the transactions contemplated hereby, the repayment of any of the Obligations, the invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document, or any
investigation made by or on behalf of the Administrative Agent or any other Secured Party. All amounts due under this Section 7.06 shall be payable on written demand therefor. 

  
 30 








 Section 7.07.    Administrative Agent Appointed
Attorney-in-Fact. Each Pledgor hereby appoints the Administrative Agent the attorney-in-fact of such Pledgor for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instrument that the
Administrative Agent may deem necessary or advisable to accomplish the purposes hereof, which appointment is irrevocable and coupled with an interest. The Administrative Agent shall have the right, upon the occurrence and during the continuance
of an Event of Default, with full power of substitution either in the Administrative Agent’s name or in the name of such Pledgor, (a) to receive, endorse, assign or deliver any and all notes, acceptances, checks, drafts, money orders or other
evidences of payment relating to the Collateral or any part thereof, (b) to demand, collect, receive payment of, give receipt for and give discharges and releases of all or any of the Collateral, (c) to ask for, demand, sue for, collect, receive and
give acquittance for any and all moneys due or to become due under and by virtue of any Collateral, (d) to sign the name of any Pledgor on any invoice or bill of lading relating to any of the Collateral, (e) to send verifications of Accounts to any
Account Debtor, (f) to commence and prosecute any and all suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect or otherwise realize on all or any of the Collateral or to enforce any rights in
respect of any Collateral, (g) to settle, compromise, compound, adjust or defend any actions, suits or proceedings relating to all or any of the Collateral and (h) 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 Pledgor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct. 
 Section
7.08.    GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 

Section 7.09.    Waivers; Amendment. (a) No failure or delay by the Administrative Agent, any Issuing Bank or
any Lender in exercising any right, power or remedy hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy, or any abandonment or discontinuance of
steps to enforce such a right, power or remedy, preclude any other or further exercise thereof or the exercise of any other right, power or remedy. The rights, powers and remedies of the Administrative Agent, any Issuing Bank and the Lenders
hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights, powers or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by any Loan Party
therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section 7.09, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without


  
 31 








 
limiting the generality of the foregoing, the making of a Loan or the issuance of a Letter of Credit shall not be construed as a waiver of any Default or Event of Default, regardless of whether
the Administrative Agent, any Lender or any Issuing Bank may have had notice or knowledge of such Default or Event of Default at the time. No notice or demand on any Loan Party in any case shall entitle any Loan Party to any other or further
notice or demand in similar or other circumstances. 
 (b)    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 Loan Party or Loan Parties with respect to which such waiver, amendment or modification is to apply, subject to any
consent required in accordance with Section 9.08 of the Credit Agreement. 
 Section 7.10.    WAIVER OF JURY
TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS
AGREEMENT OR ANY OTHER LOAN DOCUMENTS. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO
ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 7.10. 

Section 7.11.    Severability. In the event any one or more of the provisions contained in this Agreement or
in any other Loan Document should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired
thereby. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or
unenforceable provisions. 
 Section 7.12.    Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall constitute an original but all of which when taken together shall constitute but one contract, and shall become effective as provided in Section 7.04 hereof. Delivery of an executed counterpart to this
Agreement by facsimile transmission or electronic transmission shall be as effective as delivery of a manually signed original. 
 Section
7.13.    Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken
into consideration in interpreting, this Agreement. 
 Section 7.14.    Jurisdiction; Consent to Service of
Process. (a) Each party to this Agreement hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of any New York State court or federal court of the United States of


  
 32 








 
America sitting in New York City, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement or any other Loan Documents, or for
recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent
permitted by law, in such federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner
provided by law. Nothing in this Agreement shall affect any right that the Administrative Agent, any Issuing Bank or any Lender may otherwise have to bring any action or proceeding relating to this Agreement or any other Loan Document against
any Pledgor, or its properties, in the courts of any jurisdiction. 
 (b)    Each party to this Agreement hereby
irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this
Agreement or any other Loan Document in any New York State or federal court. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or
proceeding in any such court. 
 Section 7.15.    Termination or Release. (a) This Agreement, the guarantees
made herein, the pledges made herein, the Security Interest and all other security interests granted hereby shall terminate when all the Loan Document Obligations (other than contingent or unliquidated obligations or liabilities not then due) have
been paid in full in cash or immediately available funds and the Lenders have no further commitment to lend under the Credit Agreement, the Revolving L/C Exposure has been reduced to zero (or cash collateralized or supported by back-to-back letter
of credit in form and substance and from an issuing bank satisfactory to the Administrative Agent and the Issuing Bank) and each Issuing Bank has no further obligations to issue Letters of Credit under the Credit Agreement. 

(b)    A Subsidiary Loan Party shall automatically be released from its obligations hereunder and the security interests
in the Collateral of such Subsidiary Loan Party shall be automatically released upon the consummation of any transaction permitted by the Credit Agreement as a result of which such Subsidiary Loan Party ceases to be a Subsidiary of the Borrower or
otherwise ceases to be a Guarantor; provided that such portion of the Lenders as shall be required by the terms of the Credit Agreement to have consented to such transaction (to the extent such consent is required by the Credit Agreement)
shall have consented thereto and the terms of such consent did not provide otherwise. 
 (c)    Upon any sale or other
transfer by any Pledgor of any Collateral that is permitted under the Credit Agreement to any person that is not a Pledgor, or upon the effectiveness of any written consent to the release of the security interest granted hereby in any Collateral
pursuant to Section 9.08 of the Credit Agreement, the security interest in such Collateral shall be automatically released. 

(d)    Upon the transfer by any Loan Party of Equity Interests in a “first tier Foreign Subsidiary or “first
tier” Qualified CFC Holding Company to a “first tier” Foreign Subsidiary or “first tier” Qualified CFC Holding Company in accordance with Section 6.05(d) of the Credit Agreement, the pledge of Equity Interests so transferred
shall be automatically released. 

  
 33 








 (e)    In connection with any termination or release pursuant to paragraph
(a), (b), (c) and (d) of this Section 7.15, the Administrative Agent shall execute and deliver to any Pledgor, at such Pledgor’s expense, all documents that such Pledgor shall reasonably request to evidence such termination or release
(including, without limitation, UCC termination statements) and will duly assign and transfer to such Pledgor such of the Pledged Collateral that may be in the possession of the Administrative Agent and has not theretofore been sold or otherwise
applied or released pursuant to this Agreement; provided that the Administrative Agent shall not be required to take any action under this Section 7.15(e) unless such Pledgor shall have delivered to the Administrative Agent together with such
request, which may be incorporated into such request, (i) a reasonably detailed description of the Collateral, which in any event shall be sufficient to effect the appropriate termination or release without affecting any other Collateral, and (ii) a
certificate of a Responsible Officer of the Borrower or such Pledgor certifying that the transaction giving rise to such termination or release is permitted by the Credit Agreement and was consummated in compliance with the Loan Documents. Any
execution and delivery of documents pursuant to this Section 7.15 shall be without recourse to or warranty by the Administrative Agent. 

Section 7.16.    Additional Subsidiaries. Upon execution and delivery by the Administrative Agent and any
Subsidiary that is required to become a party hereto by Section 5.10 of the Credit Agreement of an instrument in the form of Exhibit I hereto, such Subsidiary shall become a Subsidiary Loan Party hereunder with the same force and effect as if
originally named as a Subsidiary Loan Party herein. The execution and delivery of any such instrument shall not require the consent of any other party to this Agreement. The rights and obligations of each party to this Agreement shall
remain in full force and effect notwithstanding the addition of any new party to this Agreement. 
 Section
7.17.    Right of Set-off. If an Event of Default shall have occurred and be continuing, each Lender and each Issuing Bank is hereby authorized at any time and from time to time, to the fullest extent permitted by
law, to set-off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any time owing by such Lender or such Issuing Bank to or for the credit or the account of any party
to this Agreement against any of and all the obligations of such party now or hereafter existing under this Agreement owed to such Lender or such Issuing Bank, irrespective of whether or not such Lender or such Issuing Bank shall have made any
demand under this Agreement and although such obligations may be unmatured. The rights of each Lender under this Section 7.17 are in addition to other rights and remedies (including other rights of set-off) that such Lender or such issuing Bank
may have. 
 Section 7.18.    Intercreditor Agreements. 

(a)    Anything herein to the contrary notwithstanding, the Liens and 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 to the provisions of the Intercreditor Agreement and the ABL Intercreditor Agreement. In the event of any conflict


  
 34 








 
between the terms of the Intercreditor Agreement or the ABL Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement or the ABL Intercreditor Agreement, as applicable,
shall govern and control and no right, power, or remedy granted to the Administrative Agent hereunder or under any other Loan Document shall be exercised by the Administrative Agent, and no direction shall be given by the Administrative Agent, in
each case in contravention of the Intercreditor Agreement or the ABL Intercreditor Agreement. 
 (b)    So long as the
Collateral Agent under the Credit Agreement is acting as bailee and as agent for perfection on behalf of the Administrative Agent pursuant to the terms of the Intercreditor Agreement or the ABL Intercreditor Agreement, any obligation of any Loan
Party in this Agreement that requires delivery of Collateral to, or the possession or control of Collateral by, the Administrative Agent shall be deemed to be complied with and satisfied if such delivery of Collateral is made to, or such possession
or control of Collateral is by, the Collateral Agent under the Credit Agreement. 
 (c)    Any reference in this
Agreement or any other Loan Document to a “first priority security interest” or words of similar effect in describing the Liens created hereunder or under any other Loan Document shall be understood to refer to such priority as set forth
in the Intercreditor Agreement and the ABL Intercreditor Agreement. 
 [Signature Page Follows] 

  
 35 








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

			
	CLAIRE’S INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	CLAIRE’S STORES, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	CLAIRE’S PUERTO RICO CORP.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	CBI DISTRIBUTING CORP.
		
	By:	 	  

	Name:	 	
	Title:	 	


 [Amended and Restated Guarantee and Collateral Agreement] 







 
			
	CSI CANADA LLC
		
	By:	 	  

	Name:	 	Stephen Sernett
	Title:	 	Secretary
	
	CLAIRE’S BOUTIQUES, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	CLAIRE’S CANADA CORP.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	BMS DISTRIBUTING CORP.
		
	By:	 	  

	Name:	 	
	Title:	 	


 [Amended and Restated Guarantee and Collateral Agreement] 







 
			
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH
	as Administrative Agent
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	


 [Amended and Restated Guarantee and Collateral Agreement] 







 SCHEDULE I 

 

	A.	Equity Interests 

  

									
	 Name of Owner
	  	 Name of Issuer
	  	 Certificate
Number
	  	 Class of

Stock
	  	 Number
of
Shares or Other
Interests

	Claire’s Stores, Inc.	  	Claire’s Puerto Rico Corp.	  	001	  	Common	  	10
	Claire’s Stores, Inc.	  	CBI Distributing Corp.	  	1	  	Common	  	100
	Claire’s Boutiques, Inc.	  	CBI Distributing Corp.	  	2	  	Common	  	80
	Claire’s Stores, Inc.	  	Claire’s Boutiques, Inc.	  	1	  	Common	  	100
	Claire’s Stores, Inc.	  	Claire’s Canada Corp.	  	R-1	  	Common	  	100
	Claire’s Stores, Inc.	  	Claire’s Canada Corp.	  	R-2	  	Common	  	1
	Claire’s Canada Corp.	  	Claire’s Stores Canada Corp.	  	C-4	  	Common	  	6,500,065
	Claire’s Canada Corp.	  	Claire’s Stores Canada Corp.	  	C-6	  	Common	  	3,250,000
	CBI Distributing Corp.	  	BMS Distributing Corp.	  	01	  	Common	  	1,000
	Claire’s Canada Corp.	  	CSI Canada LLC	  	1	  	Membership Interests	  	1 Membership Unit
	Claire’s Stores, Inc.	  	Claire’s Swiss Holdings LLC	  	1	  	Membership Interests	  	65 Membership Interests
	Claire’s Inc.	  	Claire’s Stores, Inc.	  	1	  	Common	  	100

  

	A.	Debt Obligations 

 Name of Issuer - Claire’s Stores Canada Corp. 

Principal Amount - $63,000,000 CAD 

Date of Note - January 31, 2010 

Maturity Date - January 31, 2020 







 SCHEDULE II 

Intellectual Property Collateral 
  

	A.	Patents 

 None. 

 

	B.	Domain Names 

 arbeitenmitclaires.de 

bijouxone.ch 
 clair.es 

clair.eu 
 claires.ae 

claires.at 
 claires.be 

claires.bg 
 claires.ch 

claires.cl 
 claires.cn 

claires.co.id 
 claires.co.nz 

claires.co.uk 
 claires.com.ar 

claires.com.au 
 claires.com.br 

claires.com.cn 
 claires.com.gr 

claires.com.gt 
 claires.com.mt 

claires.com.my 
 claires.com.ph 

claires.com.pt 
 claires.com.sg 

claires.com.tr 
 claires.com.ua 

claires.com.vn 
 claires.de 

claires.dk 
 claires.es 

claires.au 
 claires.fi 

claires.fr 
 claires.hk 

claires.ie 
 claires.in 

  
 2 








 claires.it 

claires.jp 
 claires.kr 

claires.lu 
 claires.ly 

claires.ma 
 claires.my 

claires.nl 
 claires.pe 

claires.ph 
 claires.pr 

claires.pt 
 claires.quebec 

claires.ro 
 claires.se 

claires.sg 
 claires.tw 

claires.ua 
 claires.vn 

clairesaccessories.be 
 clairesaccessories.bg 

clairesaccessories.cn 
 clairesaccessories.com.cn 

clairesaccessories.com.pt 
 clairesaccessories.es 

clairesaccessories.eu 
 clairesaccessories.it 

clairesaccessories.nl 
 clairesaccessories.pt 

clairesaccessoriesuk.co.uk 
 clairesaccessoriesuk.org.uk 

clairesboutique.cn 
 claires.boutique.com.cn 

clairesboutique.it 
 clairesboutiques.be 

clairesboutiques.cn 
 clairesboutiques.com.cn 

clairesboutiques.com.pt 
 clairesboutiques.es 

clairesboutiques.eu 
 clairesboutiques.it 

clairesboutiques.nl 
 clairesboutiques.pt 

clairescanada.ca 
 clairescareers.co.uk 

clairescareers.eu 

  
 3 








 clairesclub.at 

clairesclub.be 
 clairesclub.ch 

clairesclub.co.uk 
 clairesclub.com.pt 

clairesclub.cz 
 clairesclub.de 

clairesclub.es 
 clairesclub.eu 

clairesclub.fr 
 clairesclub.hu 

clairesclub.ie 
 clairesclub.it 

clairesclub.lu 
 clairesclub.nl 

clairesclub.pl 
 clairesclub.pt 

clairesoffers.co.uk 
 clairesonline.co.uk 

clairesonline.eu 
 clairessa.co.za 

clairesstores.ae 
 clairesstores.cl 

clairesstores.cn 
 clairesstores.co.id 

clairesstores.co.nz 
 clairesstores.co.za 

clairesstores.com.ar 
 clairesstores.com.au 

clairesstores.com.br 
 clairesstores.com.gr 

clairesstores.com.gt 
 clairesstores.com.mt 

clairesstores.com.mx 
 clairesstores.com.ph 

clairesstores.com.pl 
 clairesstores.com.sg 

clairesstores.com.ua 
 clairesstores.com.vn 

clairesstores.cz 
 clairesstores.dk 

clairesstores.eu 
 clairesstores.gr 

clairesstores.hu 
 clairesstores.ly 

clairesstores.ma 

  
 4 








 clairesstores.mx 

clairesstores.ph 
 clairesstores.pt 

clairesstores.ru 
 clairesstores.sg 

clairesstores.sk 
 clairesstores.vn 

icing.cn 
 icing.com.mx 

icing.com.pt 
 icing.es 

icing.eu 
 icing.hu 

icing.ie 
 icing.lu 

icing.mx 
 icing.pt 

icing.quebec 
 icingbyclaires.be 

icingbyclaires.com.pt 
 icingbyclaires.es 

icingbyclaires.eu 
 icingbyclaires.nl 

icingbyclaires.pt 
 icingcanada.ca 

icingcosmetics.co.uk 
 icingice.co.uk 

icings.at 
 icings.be 

icings.ch 
 icings.com.pt 

icings.cz 
 icings.de 

icings.es 
 icings.eu 

icings.fr 
 icings.hu 

icings.ie 
 icings.lu 

icings.nl 
 icings.pl 

icings.pt 
 rsi.com.hk 

theicing.com.pt 
 trabajarenclaires.es 

werkenbijclaires.nl 

  
 5 









	C.	Trademarks 

  

	 	1.	US Claire’s Marks 

  

													
	 Country
	  	
Owners1
	  	Ownership
Percentage	 	Mark	  	 Classes
	  	Status	  	Reg. No.
	 United States of America
	  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	IT’S AT
CLAIRE’S	  	35	  	Registered	  	3817929
	  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S	  	14	  	Registered	  	1925359
	  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S	  	3	  	Registered	  	3319826
	  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S	  	9	  	Registered	  	2908857
	  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S	  	16	  	Registered	  	2908859
	  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S	  	25	  	Registered	  	1891172
	  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S	  	42	  	Registered	  	1890335
	  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S	  	20	  	Registered	  	2967212
	  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S	  	35	  	Registered	  	2974652
	  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S	  	5	  	Registered	  	1929317
	  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S	  	16	  	Registered	  	2978984
	  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S	  	35	  	Registered	  	3190839
	  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S	  	24	  	Registered	  	2900024
	  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S	  	14	  	Registered	  	2996103
	  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S	  	25	  	Registered	  	2925470

  

	1 	 The US Claire’s Marks, including the federal registrations set forth on Schedule III, are jointly owned by
CBI Distributing Corp. and CLSIP LLC, with CBI Distributing Corp. owning undivided 82.50% ownership interest in and to the US Claire’s Marks as the majority and controlling owner of the US Claire’s Marks, and CLSIP LLC owning an undivided
17.50% ownership interest in and to the US Claire’s Marks as the minority owner of the US Claire’s Marks. CBI Distributing Corp. is pledging its undivided 82.50% ownership interest in and to the US Claire’s Marks, including the
federal registrations set forth on Schedule III. Nothing in the Agreement acts to grant the Collateral Agent or the Secured Parties a security interest in and to the undivided 17.50% ownership interest in and to the US Claire’s Marks owned by
CLSIP LLC. 



  
 6 









													
	 Country
	  	
Owners1
	  	Ownership
Percentage	 	Mark	  	 Classes
	  	Status	  	Reg. No.
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S	  	26	  	Registered	  	2908861
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S	  	3	  	Registered	  	2951866
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S
ACCESSORIES	  	42	  	Registered	  	1956047
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S
ACCESSORIES	  	42	  	Registered	  	1946557
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S
ACCESSORIES
and design	  	35	  	Registered	  	2294937
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S
BOUTIQUES
and design	  	42	  	Registered	  	1514045
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S
CLUB	  	35	  	Registered	  	3343775
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S
CLUB	  	25	  	Registered	  	2908868
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S
CLUB	  	14	  	Registered	  	2908865
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S
CLUB	  	26	  	Registered	  	2908191
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S
CLUB	  	3	  	Registered	  	2908862
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S
CLUB	  	18	  	Registered	  	2908866
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S
CLUB	  	9	  	Registered	  	2908863
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S ETC.	  	42	  	Registered	  	2065959
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S ETC.	  	42	  	Registered	  	2064149
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S Logo	  	35	  	Registered	  	3602239
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S
 Stylizedwith @ logo
	  	35	  	Registered	  	2623039


  
 7 









													
	 Country
	  	
Owners1
	  	Ownership
Percentage	 	Mark	  	 Classes
	  	Status	  	Reg. No.
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	SECRET
SANTA
CIRCLE	  	35	  	Registered	  	4005371
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	SENSITIVE
SOLUTIONS	  	14	  	Registered	  	1951435
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
 17.50%
	 	CLAIRE’S
OUTLET	  	35	  	Registered	  	4610591
		  	 CBI Distributing Corp.

CLSIP LLC
	  	82.50%
17.50%	 	ICING BY
CLAIRE’S	  	35	  	Registered	  	3050863

  

	 	2.	Non-US Claire’s Marks  

  

													
	 Argentina
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	14	  	Registered	  	2672763
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	18	  	Registered	  	2780180
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	25	  	Registered	  	2780181
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	26	  	Registered	  	2672764
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	35	  	Registered	  	2780182
	Armenia	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	14, 25, 26, 35	  	Registered	  	872750
	Australia	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	14, 25, 26, 35	  	Registered	  	872750
	Bahrain	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	35	  	Registered	  	45255
	Belarus	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	14, 25, 26, 35	  	Registered	  	872750
	Belize	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	35	  	Registered	  	4849.07
	Botswana	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	26	  	Pending	  	
	Brazil	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	35	  	Registered	  	819044059
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	14	  	Registered	  	840527373
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	25	  	Registered	  	840527403
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	26	  	Registered	  	840527438
	Bulgaria	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	14, 25, 26, 35	  	Registered	  	872750


  
 8 









													
	Canada	  	CBI Distributing Corp.	  	100%	 	BEE WHO
 YOUWANNA BE
	  		  	Registered	  	TMA657373
	  	CBI Distributing Corp.	  	100%	 	C SWIRL	  		  	Registered	  	TMA765561
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  		  	Registered	  	TMA446820
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  		  	Registered	  	TMA481401
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S
ACCESSORIES	  		  	Registered	  	TMA450271
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S
ACCESSORIES	  		  	Registered	  	TMA537106
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S
ACCESSORIES	  		  	Registered	  	TMA552904
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S
BOUTIQUES
& DESIGN	  		  	Registered	  	TMA432178
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S
CLUB	  		  	Registered	  	TMA667768
	  	CBI Distributing Corp.	  	100%	 	ICING	  		  	Registered	  	TMA711637
	  	CBI Distributing Corp.	  	100%	 	ICING BY
CLAIRE’S	  		  	Registered	  	TMA678667
	  	CBI Distributing Corp.	  	100%	 	PRINCIE	  		  	Registered	  	TMA574732
	  	CBI Distributing Corp.	  	100%	 	REFLEXIONS	  		  	Registered	  	TMA332968
	  	CBI Distributing Corp.	  	100%	 	THE ICING	  		  	Registered	  	TMA404349
	Chile	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	35	  	Registered	  	947879
	China (People’s Republic)	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	16	  	Registered	  	10608651
	  		  		 		  		  		  	
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	14, 26	  	Registered	  	872750
	  		  		 		  		  		  	
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	35	  	Registered	  	6711303
	  		  		 		  		  		  	
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	35	  	Registered	  	8662114
	  		  		 		  		  		  	
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	3	  	Registered	  	10608653
	  		  		 		  		  		  	
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	9	  	Pending	  	
	  		  		 		  		  		  	
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	18	  	Registered	  	10608650
	  		  		 		  		  		  	
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	21	  	Registered	  	10608649
	  		  		 		  		  		  	
	  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	25	  	Published	  	


  
 9 









													
		  	CBI Distributing Corp.	  	100%	 	CLAIRE’S	  	28	  	Registered	  	10608647
		  	CBI Distributing Corp.	  	100%	 	ICING	  	14	  	Registered	  	6538116
		  	CBI Distributing Corp.	  	100%	 	ICING	  	35	  	Registered	  	6538117
		  	CBI Distributing Corp.	  	100%	 	ICING	  	18	  	Registered	  	11358777
		  	CBI Distributing Corp.	  	100%	 	ICING	  	3	  	Registered	  	11358778
		  	CBI Distributing Corp.	  	100%	 	ICING	  	25	  	Registered	  	5278540
		  	CBI Distributing Corp.	  	100%	 	ICING	  	26	  	Registered	  	10715963
		  	CBI Distributing Corp.	  	100%	 	KE LAI ER SI (CLAIRE’S in Chinese)	  	3	  	Registered	  	11231746
		  	CBI Distributing Corp.	  	100%	 	KE LAI ER SI (CLAIRE’S in Chinese)	  	9	  	Registered	  	11231745
		  	CBI Distributing Corp.	  	100%	 	KE LAI ER SI (CLAIRE’S in Chinese)	  	14	  	Registered	  	11231744
		  	CBI Distributing Corp.	  	100%	 	KE LAI ER SI (CLAIRE’S in Chinese)	  	16	  	Registered	  	11231743
		  	CBI Distributing Corp.	  	100%	 	KE LAI ER SI (CLAIRE’S in Chinese)	  	18	  	Registered	  	11231742
		  	CBI Distributing Corp.	  	100%	 	KE LAI ER SI (CLAIRE’S in Chinese)	  	21	  	Registered	  	11231741
		  	CBI Distributing Corp.	  	100%	 	KE LAI ER SI (CLAIRE’S in Chinese)	  	25	  	Registered	  	11231740
		  	CBI Distributing Corp.	  	100%	 	KE LAI ER SI (CLAIRE’S in Chinese)	  	26	  	Registered	  	11231739
		  	CBI Distributing Corp.	  	100%	 	KE LAI ER SI (CLAIRE’S in Chinese)	  	28	  	Registered	  	11231738
		  	CBI Distributing Corp.	  	100%	 	KE LAI ER SI (CLAIRE’S in Chinese)	  	35	  	Registered	  	11231737


  
 10 









															
	 Colombia
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	42	  	Registered	  	192406
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  		  	Registered	  	330360
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	26	  	Registered	  	459364
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14	  	Registered	  	462741
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	25	  	Registered	  	461450
	 Costa Rica
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	178034
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14	  	Registered	  	223.014
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	25	  	Registered	  	223.016
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	26	  	Registered	  	223.017
	 Dominican Republic
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	25	  	Registered	  	211884
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26	  	Registered	  	203520
	 Ecuador
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	282311
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14	  	Registered	  	6714-12
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	18	  	Registered	  	5292-12
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	25	  	Registered	  	5294-12
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	26	  	Registered	  	5295-12
	 Egypt
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	198659
	  	CBI Distributing Corp.	  	 	100	% 	 	ICING	  	14, 25, 26, 35	  	Pending	  	
	 El Salvador
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	207Book101
	 EU (CTM)
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 18, 26	  	Registered	  	6584221
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	3, 4, 9, 12, 21, 35	  	Registered	  	2846087
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25	  	Registered	  	76265
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35, 42	  	Registered	  	1862200


  
 11 









															
		  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S
BOUTIQUES	  	14, 25, 35, 42	  	Registered	  	235333
		  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S
ACCESSORIES	  	14, 25, 35, 42	  	Registered	  	235374
		  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S
ACCESSORIES	  	14, 25, 35	  	Registered	  	428417
		  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S
CLUB	  	3, 4, 9, 11, 14, 16, 20, 21, 22, 24, 25, 26	  	Registered	  	3140878
		  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S
COLLECTION	  	3, 14, 25, 26	  	Registered	  	76166
		  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S
ETC.	  	14, 25, 35, 42	  	Registered	  	235291
		  	CBI Distributing Corp.	  	 	100	% 	 	ICING	  	3, 42	  	Registered	  	2789154
		  	CBI Distributing Corp.	  	 	100	% 	 	ICING	  	3, 9, 14, 16, 18, 21, 25, 26, 28, 35	  	Registered	  	012599891
		  	CBI Distributing Corp.	  	 	100	% 	 	ICING BY
CLAIRE’S	  	35	  	Registered	  	6282859
		  	CBI Distributing Corp.	  	 	100	% 	 	ICINGS	  	14, 25, 35	  	Registered	  	426312
		  	CBI Distributing Corp.	  	 	100	% 	 	THE ICING
ACCESSORIES
& DESIGN	  	14, 25, 35	  	Registered	  	426270
	 Georgia
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26, 35	  	Registered	  	872750
	 Ghana
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26, 35	  	Pending	  	
	 Guatemala
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	156393
	 Honduras
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  		  	Registered	  	11492
	 Hong Kong
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	9, 14, 18, 20, 21, 24, 25, 26, 28	  	Registered	  	301369701
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	300246276


  
 12 









															
	 Iceland
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26, 35	  	Registered	  	872750
	 India
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14	  	Registered	  	1579528
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	1375799
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	26	  	Registered	  	2273273
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	28	  	Registered	  	2273274
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	21	  	Registered	  	2273271
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	3, 18, 25	  	Pending	  	
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	18, 26	  	Published	  	
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	9	  	Registered	  	2273269
	 Indonesia
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 26	  	Registered	  	IDM000269734
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	IDM000403561
	 Int’l – Madrid Protocol
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26, 35	  	Registered	  	1263860
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 42	  	Registered	  	872750
	 Israel
	  	Claire’s Boutiques, Inc.	  	 	100	% 	 	Claire’s &
@ logo	  	35	  	Registered	  	142605
	 Jamaica
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  		  	Registered	  	57734
	 Japan
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14	  	Registered	  	4173259
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	25	  	Registered	  	4225283
	  	CBI Distributing Corp.	  	 	100	% 	 	Claire’s &
@ logo	  	14	  	Registered	  	4316622
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S
&
Japanese
characters	  	18	  	Registered	  	4173261
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S
&
Japanese
characters	  	26	  	Registered	  	4227498
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S
&
Japanese
characters	  	14	  	Registered	  	4173260
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S
&
Japanese
characters	  	35	  	Registered	  	4068474


  
 13 









															
		  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S &
Japanese
characters	  	35	  	Registered	  	5254831
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S
ACCESSORIES	  	9, 14, 18, 25	  	Registered	  	4384017
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S in
Japanese
characters	  	6, 8, 14, 18, 21, 25, 26	  	Registered	  	2661230
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S
stylized	  	35	  	Registered	  	5255217
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S
stylized	  	3, 8, 10, 14, 18, 21, 25, 26	  	Registered	  	4077459
	  	CBI Distributing Corp.	  	 	100	% 	 	ICING	  	35	  	Registered	  	140055
	 Lebanon
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	95458
	 Lesotho
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26, 35	  	Pending	  	
	 Liechtenstein
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26, 35	  	Registered	  	872750
	 Malaysia
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14	  	Registered	  	09000349
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	26	  	Registered	  	09000350
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	09000351
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	25	  	Registered	  	20122014317
	 Mexico
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	970492
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	42	  	Registered	  	521186
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14	  	Registered	  	1457103
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	25	  	Registered	  	1349996
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	26	  	Registered	  	1295890
	 Monaco
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26, 35	  	Registered	  	872750
	 Namibia
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26, 35	  	Pending	  	
	 New Zealand
	  	CBI Distributing Corp.	  	 	100	% 	 	Claire’s & “@”
logo	  	14, 35	  	Registered	  	806327
	 Nicaragua
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	0802817


  
 14 









															
	 Nigeria
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26, 35	  	Pending	  	
	 Norway
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26, 35	  	Registered	  	872750
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	233273
	 Oman
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26, 35	  	Pending	  	
	 Pakistan
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26, 35	  	Pending	  	
	 Panama
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	165604
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14	  	Registered	  	211198
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	25	  	Registered	  	211197
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	26	  	Registered	  	211200
	 Paraguay
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14	  	Registered	  	375410
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	385020
	 Peru
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	66528
	 Philippines
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 26, 35	  	Registered	  	4-2012-008328
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	25	  	Registered	  	4-2012-210172
	 Poland
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	204878
	 Qatar
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	48479
	  	CBI Distributing Corp.	  	 	100	% 	 	ICING	  	14, 25, 26, 35	  	Pending	  	
	 Romania
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26, 35	  	Registered	  	872750
	 Russian Federation
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 26	  	Registered	  	872750
	  	CBI Distributing Corp.	  	 	100	% 	 	ICING	  	14	  	Registered	  	1436016141
	  	CBI Distributing Corp.	  	 	100	% 	 	ICING	  	26	  	Registered	  	1436016143
	  	CBI Distributing Corp.	  	 	100	% 	 	ICING	  	35	  	Registered	  	1436016144
	 Serbia
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26, 35	  	Registered	  	67601
	 Singapore
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26, 35	  	Registered	  	872750


  
 15 









															
	 South Africa
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14	  	Registered	  	2009/05885
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	26	  	Registered	  	2009/08556
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	2004/09338
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	25	  	Published	  	
	 Swaziland
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26, 35	  	Published	  	
	 Switzerland
	  	CBI Distributing Corp.	  	 	100	% 	 	Claire’s @ logo	  		  	Registered	  	517937
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	3, 14, 25, 35	  	Registered	  	507253
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S & @ logo	  	3, 14, 25, 35	  	Registered	  	507888
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S ACCESSORIES	  	3, 14, 25, 35	  	Registered	  	507908
	 Taiwan
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 26, 35	  	Registered	  	1383039
	  	CBI Distributing Corp.	  				 	CLAIRE’S	  	3, 9, 14, 16, 18, 21, 25, 26, 28, 35	  	Registered	  	1636275
	 Thailand
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14	  	Registered	  	TM319893
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	26	  	Registered	  	TM320726
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	SM68822
	 Turkey
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	3, 14, 16, 25, 26, 35	  	Registered	  	200331890
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26, 35	  	Pending	  	
	 Ukraine
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26, 35	  	Registered	  	872750
	  	CBI Distributing Corp.	  	 	100	% 	 	ICING	  	14	  	Registered	  	191737
	  	CBI Distributing Corp.	  	 	100	% 	 	ICING	  	25	  	Registered	  	191738
	  	CBI Distributing Corp.	  	 	100	% 	 	ICING	  	26	  	Registered	  	191739
	  	CBI Distributing Corp.	  	 	100	% 	 	ICING	  	35	  	Registered	  	191740
	 United Kingdom
	  	CBI Distributing Corp.	  	 	100	% 	 	ICING	  	3, 8, 21	  	Registered	  	2284683
	 Uruguay
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 35	  	Registered	  	432942


  
 16 









															
	 Venezuela
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14	  	Registered	  	P-347986
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	18	  	Published	  	
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	26	  	Published	  	
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	35	  	Registered	  	S-061612
	 Vietnam
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	3, 14, 26, 35	  	Registered	  	163209
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	25	  	Registered	  	216702
	 Zambia
	  	CBI Distributing Corp.	  	 	100	% 	 	CLAIRE’S	  	14, 25, 26, 35	  	Pending	  	

  

	D.	Copyrights 

  
  

							
	 Country
	  	 Claimant
	  	 Title
	  	Reg No.
	United States of America	  	CBI Distributing Corporation	  	Claire’s product development: Jan. 2003	  	VAu000584057
	  	CBI Distributing Corporation	  	Claire’s gifts to go : 2003 accessory product	  	VAu000581995
	  	CBI Distributing Corporation	  	Claire’s Club (aka Kids Club gifts to go program 2003)	  	VAu000593275
	  	CBI Distributing Corporation	  	Slam book & Sports slam book	  	VAu000592144
	  	CBI Distributing Corporation	  	Claire’s product development 2004	  	VAu000616999
	  	CBI Distributing Corporation	  	Claire’s Club : gifts to go 2004 (aka Claire’s product development 2004)	  	VAu000634258

  

	E.	IP Licenses 

 Intellectual Property Agreement, dated as of the date hereof, by and
among CLSIP LLC and CBI Distributing Corp. 

  
 17 








 SCHEDULE III 

Filing Jurisdictions 
  

			
	 GRANTOR
	  	 JURISDICTION

	Claire’s Stores, Inc.	  	Florida
	Claire’s Inc.	  	Delaware
	Claire’s Puerto Rico Corp.	  	Delaware
	CBI Distributing Corp.	  	Delaware
	Claire’s Boutiques, Inc.	  	Colorado
	Claire’s Canada Corp.	  	Delaware
	BMS Distributing Corp.	  	Delaware
	CSI Canada LLC	  	Delaware


  
 18 








 SCHEDULE IV 

Commercial Tort Claims 
 None.


  
 19 








 SCHEDULE V 

Accounts and Inventory Not in the Ordinary Course of Business 

None. 

  
 20 








 EXHIBIT I 

FORM OF JOINDER AGREEMENT 

THIS JOINDER AGREEMENT (this “Agreement”), dated as of [    ], 2016 is entered into among
                    , a                      (the
“New Subsidiary”), and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, in its capacity as administrative agent (the “Administrative Agent”) under that certain Second Amended and Restated Credit Agreement dated as of August
12, 2016, and effective as of September 20, 2016 (as the same may be amended, modified, extended, restated or amended and restated from time to time, the “Credit Agreement”) among Claire’s Stores, Inc., a Florida
corporation, Claire’s Inc., a Delaware corporation, the Lenders party thereto, and the Administrative Agent. 
 Reference is also made
to the Amended and Restated Guarantee and Collateral Agreement (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Guarantee and Collateral Agreement ”), dated as of August 12,
2016, and effective as of September 20, 2016, by and among Claire’s Inc., Claire’s Stores, Inc., the Administrative Agent and each Subsidiary Loan Party which becomes a party to the Guarantee and Collateral Agreement from time to time,
including, without limitation, those that become party thereto by executing a Joinder Agreement in substantially the form hereof in favor of the Administrative Agent for the Secured Parties under the Credit Agreement. All capitalized terms used
herein and not otherwise defined herein shall have the meanings set forth in the Credit Agreement and the Guarantee and Collateral Agreement, as applicable. 

The New Subsidiary and the Administrative Agent, for the benefit of the Secured Parties, hereby agree as follows: 

1.    The New Subsidiary hereby acknowledges, agrees and confirms that, by its execution of this Agreement, such New
Subsidiary will be deemed to be a Subsidiary Loan Party under the Credit Agreement for all purposes of the Credit Agreement and shall have all of the obligations of a Loan Party as if it had executed the Credit Agreement. The New Subsidiary
hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions and conditions contained in the Credit Agreement, including without limitation (a) all of the representations and warranties of the Loan Parties set
forth in Article III of the Credit Agreement, (b) all of the covenants set forth in Articles V and VI of the Credit Agreement and (c) all of the guaranty obligations set forth in Article II of the Guarantee and Collateral
Agreement. Without limiting the generality of the foregoing terms of this paragraph 1, the New Subsidiary, subject to the limitations set forth in Sections 2.07 of the Guarantee and Collateral Agreement, hereby unconditionally guarantees,
jointly and severally with the other Guarantors, to the Administrative Agent and the Lenders, as provided in Article II of the Guarantee and Collateral Agreement, the prompt payment and performance of the Obligations in full when due (whether at
stated maturity, as a mandatory prepayment, by acceleration or otherwise) strictly in accordance with the terms thereof and agrees that if any of the Obligations are not paid or performed in full when due (whether at stated maturity, as a mandatory
prepayment, by acceleration or otherwise), such New Subsidiary will, jointly and severally together with the other Guarantors, promptly pay and perform the same, without any demand or notice whatsoever, and that in the case of any extension of time
of payment or renewal of any of the Obligations, the same will be promptly paid in full when due (whether at extended maturity, as a mandatory prepayment, by acceleration or otherwise) in accordance with the terms of such extension or renewal. 

2.    The New Subsidiary agrees to become, and does hereby become, a Subsidiary Loan Party and Guarantor under the
Guarantee and Collateral Agreement and agrees to have all of the obligations of a Subsidiary Loan Party and Guarantor and be bound by such Guarantee and Collateral Agreement as if originally a party thereto. The New Subsidiary hereby pledges,
assigns and grants to the Administrative 







 
Agent, its successors and assigns, on behalf of and for the ratable benefit of the Secured Parties, a security interest in all of the New Subsidiary’s right, title and interest in and to the
Collateral, whether now owned or hereafter acquired, to secure the prompt and complete payment and performance of the Obligations. 

3.    By its execution below, the New Subsidiary represents and warrants as to itself that all of the representations and
warranties contained in the Guarantee and Collateral Agreement are true and correct in all respects as of the date hereof. The New Subsidiary represents and warrants that the supplements to the Schedules to the Guarantee and Collateral
Agreement attached hereto are, as to the New Subsidiary, true and correct in all respects and such supplements set forth all information required to be scheduled under the Guarantee and Collateral Agreement as to the New Subsidiary. The New
Subsidiary shall, subject to the provisions of the Guarantee and Collateral Agreement, take all steps necessary to perfect, in favor of the Administrative Agent, a first priority security interest in and lien against the New Subsidiary’s
Collateral, including, without limitation, delivering all certificated Pledged Collateral to the Administrative Agent (and all other Collateral required to be delivered under the Guarantee and Collateral Agreement), and taking all steps necessary to
properly perfect the Administrative Agent’s interest in any uncertificated Pledged Collateral. 
 4.    If
required, the New Subsidiary is, simultaneously with the execution of this Agreement, executing and delivering such Security Documents (and such other documents and instruments) as requested by the Administrative Agent in accordance with the Credit
Agreement. 
 5.    The address of the New Subsidiary for purposes of Section 9.01 of the Credit Agreement is as
follows: 
 [    ] 

Attention: 
 Email:

6.    The New Subsidiary hereby waives acceptance by the Administrative Agent and the Lenders of the guaranty by the New
Subsidiary upon the execution of this Agreement by the New Subsidiary. 
 7.    This Agreement may be executed in any
number of counterparts, each of which when so executed and delivered shall be an original, but all of which together shall constitute one and the same instrument. Delivery of an executed counterpart to this Agreement by facsimile transmission
(or other electronic transmission pursuant to procedures approved by the Administrative Agent) shall be as effective as delivery of a manually signed original. 

8.    THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 IN WITNESS WHEREOF, the New Subsidiary has caused this Agreement to be
duly executed by its authorized officer, and the Administrative Agent, for the ratable benefit of the Secured Parties, has caused the same to be accepted by its authorized officer, as of the day and year first above written. 

[Signatures on following page.] 







 
			
	[INSERT NEW SUBSIDIARY ENTITY NAME]
		
	By:	 	  

	Name:	 	
	Title:	 	


 Acknowledged and accepted:     

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Administrative Agent     

 

			
	By:	 	  

	Name:	 	  

	Title:	 	  


 Signature Page to Joinder Agreement 







 [UPDATED SCHEDULES TO BE ATTACHED] 







 EXHIBIT F 

[FORM OF] 
 U.S. TAX COMPLIANCE
CERTIFICATE 
 (For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to that certain SECOND AMENDED AND RESTATED CREDIT AGREEMENT, dated as of August 12, 2016 and effective as of September
20, 2016 (as it may be amended, supplemented, restated or otherwise modified from time to time, the “Credit Agreement”) among CLAIRE’S INC. (formerly known as Bauble Holdings Corp.), a Delaware corporation
(“Holdings”), CLAIRE’S STORES, INC., a Florida corporation (“Borrower”), the LENDERS party thereto from time to time, and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, administrative agent (in such capacity, the
“Administrative Agent”) for the Lenders. Capitalized terms used herein that are not defined herein shall have the meanings ascribed to them in the Credit Agreement. 

Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and
beneficial owner of the Loan(s) (as well as any Note(s)) in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Borrower
within the meaning of Section 871(h)(3) or 881(c)(3)(B) of the Code, (iv) it is not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (v) the interest payments on the Loan(s) are
not effectively connected with the undersigned’s conduct of a U.S. trade or business. 
 The undersigned has furnished the
Administrative Agent and the Borrower with a certificate of its non-U.S. person status on IRS Form W-8BEN or W-8BEN-E, as applicable. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate
changes, or if a lapse in time or change in circumstances renders the information on this certificate obsolete, expired or inaccurate in any material respect, the undersigned shall promptly so inform the Borrower and the Administrative Agent in
writing and deliver promptly to the Borrower and the Administrative Agent an updated certificate or other appropriate documentation (including any new documentation reasonably requested by the Borrower or the Administrative Agent) or promptly notify
the Borrower and the Administrative Agent in writing of its inability to do so, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in
either the calendar year in which each payment is to be made to the undersigned or at such times are as reasonably requested by the Borrower or the Administrative Agent. 
  

					
	[NAME OF LENDER]
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	Date:                 , 20[    ]


  
 F-1 








 [FORM OF] 

U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to that certain SECOND AMENDED AND RESTATED CREDIT AGREEMENT, dated as of August 12, 2016 and effective as of September
20, 2016 (as it may be amended, supplemented, restated or otherwise modified from time to time, the “Credit Agreement”) among CLAIRE’S INC. (formerly known as Bauble Holdings Corp.), a Delaware corporation
(“Holdings”), CLAIRE’S STORES, INC., a Florida corporation (“Borrower”), the LENDERS party thereto from time to time, and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, administrative agent (in such capacity, the
“Administrative Agent”) for the Lenders. Capitalized terms used herein that are not defined herein shall have the meanings ascribed to them in the Credit Agreement. 

Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and
beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Borrower within the
meaning of Section 871(h)(3) or 881(c)(3)(B) of the Code, (iv) it is not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (v) the interest payments with respect to such
participation are not effectively connected with the undersigned’s conduct of a U.S. trade or business. 
 The undersigned has
furnished its participating Lender with a certificate of its non-U.S. person status on an IRS Form W-8BEN or W-8BEN-E, as applicable. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate
changes, or if a lapse in time or change in circumstances renders the information on this certificate obsolete, expired or inaccurate in any material respect, the undersigned shall promptly so inform such Lender in writing and deliver promptly to
such Lender an updated certificate or other appropriate documentation (including any new documentation reasonably requested by such Lender) or promptly notify such Lender in writing of its inability to do so, and (2) the undersigned shall have at
all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned or at such times are as reasonably requested by such Lender. 

 

					
	[NAME OF PARTICIPANT]
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	Date:                 , 20[    ]


  
 F-2 








 [FORM OF] 

U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to that certain SECOND AMENDED AND RESTATED CREDIT AGREEMENT, dated as of August 12, 2016 and effective as of September 20,
2016 (as it may be amended, supplemented, restated or otherwise modified from time to time, the “Credit Agreement”) among CLAIRE’S INC. (formerly known as Bauble Holdings Corp.), a Delaware corporation
(“Holdings”), CLAIRE’S STORES, INC., a Florida corporation (“Borrower”), the LENDERS party thereto from time to time, and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, administrative agent (in such capacity, the
“Administrative Agent”) for the Lenders. Capitalized terms used herein that are not defined herein shall have the meanings ascribed to them in the Credit Agreement. 

Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of
the participation in respect of which it is providing this certificate, (ii) its partners/members are the sole beneficial owners of such participation, (iii) with respect such participation, neither the undersigned nor any of its partners/members is
a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its partners/members is a ten percent shareholder of the Borrower
within the meaning of Section 871(h)(3) or 881(c)(3)(B) of the Code, (v) none of its partners/members is a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (vi) the interest payments with
respect to such participation are not effectively connected with the undersigned’s or its partners/members’ conduct of a U.S. trade or business. 

The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by an IRS Form W-8BEN or W-8BEN-E, as applicable, from each of its partners/members claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate
changes, or if a lapse in time or change in circumstances renders the information on this certificate obsolete, expired or inaccurate in any material respect, the undersigned shall promptly so inform such Lender in writing and deliver promptly to
such Lender an updated certificate or other appropriate documentation (including any new documentation reasonably requested by such Lender) or promptly notify such Lender in writing of its inability to do so, and (2) the undersigned shall have at
all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned or at such times are as reasonably requested by such Lender. 

 

			
	[NAME OF PARTICIPANT]
		
	By:	 	  

		 	Name:
		 	Title:
	Date:	 	                , 20[    ]


  
 F-3 








 [FORM OF] 

U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to that certain SECOND AMENDED AND RESTATED CREDIT AGREEMENT, dated as of August 12, 2016 and effective as of September 20,
2016 (as it may be amended, supplemented, restated or otherwise modified from time to time, the “Credit Agreement”) among CLAIRE’S INC. (formerly known as Bauble Holdings Corp.), a Delaware corporation
(“Holdings”), CLAIRE’S STORES, INC., a Florida corporation (“Borrower”), the LENDERS party thereto from time to time, and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, administrative agent (in such capacity, the
“Administrative Agent”) for the Lenders. Capitalized terms used herein that are not defined herein shall have the meanings ascribed to them in the Credit Agreement. 

Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of
the Loan(s) (as well as any Note(s)) in respect of which it is providing this certificate, (ii) its partners/members are the sole beneficial owners of such Loan(s) (as well as any Note(s), (iii) with respect to the extension of credit pursuant to
the Credit Agreement or any other Loan Document, neither the undersigned nor any of its partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of
Section 881(c)(3)(A) of the Code, (iv) none of its partners/members is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3) or 881(c)(3)(B) of the Code, (v) none of its partners/members is a controlled foreign
corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (vi) the interest payments on the Loan(s) are not effectively connected with the undersigned’s or its partners/members’ conduct of a U.S. trade or
business. 
 The undersigned has furnished the Administrative Agent and the Borrower with IRS Form W-8IMY accompanied by an IRS Form W-8BEN
or W-8BEN-E, as applicable, from each of its partners/members claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, or if a lapse in time or
change in circumstances renders the information on this certificate obsolete, expired or inaccurate in any material respect, the undersigned shall promptly so inform the Borrower and the Administrative Agent in writing and deliver promptly to the
Borrower and the Administrative Agent an updated certificate or other appropriate documentation (including any new documentation reasonably requested by the Borrower or the Administrative Agent) or promptly notify the Borrower and the Administrative
Agent in writing of its inability to do so, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each
payment is to be made to the undersigned or at such times are as reasonably requested by the Borrower or the Administrative Agent. 

  
 F-4 









			
	[NAME OF LENDER]
		
	By:	 	  

		 	Name:
		 	Title:
	Date:	 	            , 20[    ]


  
 F-5 








 Schedules to Second Amended and Restated Revolver Agreement 

SCHEDULE 1.01A 

Excluded Subsidiaries 
  

			
	 Entity
	  	 Agreement

	CLSIP LLC	  	Term Loan Credit Agreement, dated as of September 20, 2016, among CLSIP Holdings LLC, as Holdings, CLSIP LLC as Borrower, the Lenders party thereto, and Wilmington Trust, N.A., as Administrative Agent and Collateral Agent
		
	CLSIP Holdings LLC	  	Term Loan Credit Agreement, dated as of September 20, 2016, among CLSIP Holdings LLC, as Holdings, CLSIP LLC as Borrower, the Lenders party thereto, and Wilmington Trust, N.A., as Administrative Agent and Collateral Agent








 SCHEDULE 1.01B 

Mortgaged Properties 

None. 







 SCHEDULE 1.01D 

Immaterial Subsidiaries 
 Claire’s
Austria Gmbh 
 Claire’s Belgium B.V.B.A. 
 Claire’s
Netherlands B.V. 
 Claire’s Puerto Rico Corp. 

Claire’s Poland Sp. Z o.o. 
 Claire’s Hungary Kft. 

Claire’s Czech Republic s.r.o. 
 RSI International Ltd. 

BMS Fashion Corp. 
 Claire’s Stores (Shanghai) Limited 

Claire’s Stores Hong Kong Limited 
 Claire’s Italy
S.R.L. 
 CSI Canada LLC 
 Claire’s European Services
Limited 
 Claire’s Luxembourg S.a.r.l. 







 SCHEDULE 1.01E 

Refinanced Indebtedness 

None. 







 SCHEDULE 1.01F 

Unrestricted Subsidiaries 
  

	1.	CLSIP LLC 

  

	2.	CLSIP Holdings LLC 








 SCHEDULE 2.01 

Commitments 
  

					
	 Lender
	  	Commitment	 
	 Goldman Sachs Bank USA
	  	$	35,000,000	  
	 Royal Bank of Canada
	  	$	30,000,000	  
	 Credit Suisse AG, Cayman Islands Branch
	  	$	15,000,000	  
	 JPMorgan Chase Bank, N.A.
	  	$	25,000,000	  
	 ING Capital
	  	$	10,000,000	  
	 Total:
	  	$	115,000,000	  








 SCHEDULE 3.01 

Organization and Good Standing 

None. 







 SCHEDULE 3.04 

Government Approvals 

None. 







 SCHEDULE 3.07(b) 

Possession under Leases 

None. 







 SCHEDULE 3.07(c) 

Intellectual Property 

None. 







 SCHEDULE 3.08(a) 

Subsidiaries* 
  

					
	 Name
	  	 Jurisdiction
	  	 Owner of Equity Interests

	 Claire’s Stores, Inc.
	  	 Florida
	  	 100% Claire’s Inc.

	 CBI Distributing Corp.
	  	 Delaware
	  	 56% Claire’s Stores, Inc.

44% Claire’s Boutiques, Inc.

	 Claire’s Boutiques, Inc.
	  	 Colorado
	  	 100% Claire’s Stores, Inc.

	 Claire’s Canada Corp.
	  	 Delaware
	  	 100% Claire’s Stores, Inc.

	 Claire’s Fashion Property Corp.
	  	 Cayman
	  	 100% CSI Luxembourg S.a.r.l.

	 Claire’s Holding Gmbh
	  	 Switzerland
	  	 100% Claire’s Holdings S.a.r.l.

	 Claire’s Stores Canada Corp.
	  	 Canada
	  	 100% Claire’s Canada Corp.

	 BMS Distributing Corp.
	  	 Delaware
	  	 100% CBI Distributing Corp.

	 Claire’s Accessories UK Ltd
	  	 United Kingdom
	  	 100% Claire’s Holding Gmbh

	 CSI Luxembourg S.a.r.l.
	  	 Luxembourg
	  	 100% Claire’s Holding Gmbh

	 Claire’s Switzerland Gmbh
	  	 Switzerland
	  	 100% Claire’s Holding Gmbh

	 Claire’s Accessories Spain, S.L.
	  	 Spain
	  	 100% Claire’s Accessories UK Ltd

	 Claire’s France S.A.S.
	  	 France
	  	 100% Claire’s Accessories UK Ltd

	 Claire’s Swiss Holdings LLC
	  	 Delaware
	  	 100% Claire’s Stores, Inc.

	 Claire’s (Gibraltar) Holdings Limited
	  	 Gibraltar
	  	 100% Claire’s Swiss Holdings LLC

	 Claire’s (Gibraltar) Holdings
Limited1
	  	 Gibraltar
	  	 100% Claire’s (Gibraltar) Holdings Limited

	 Claire’s Holdings S.a.r.l.
	  	 Luxembourg
	  	 100% Claire’s (Gibraltar) Holdings Limited

	 Claire’s Germany GmbH
	  	 Germany
	  	 100% Claire’s Holding Gmbh

	 WhiteClaire’s Accessorrios Portugal Unipessoal LDA
	  	 Portugal
	  	 100% Claire’s Holding Gmbh

	 Claire’s European Distribution Limited
	  	 United Kingdom
	  	 100% Claire’s Holding S.a.r.l.

	 Claire’s China Services
	  	 China
	  	 100% BMS Fashion Corp.

	 Claire’s Italy S.R.L.
	  	 Italy
	  	 100% Claire’s Accessories UK, Ltd.


  

	*	This list excludes Immaterial Subsidiaries listed on Schedule 1.01D 








 SCHEDULE 3.08(b) 

Subscriptions 
  

	1.	Holdings and the Fund entered into a stockholders agreement dated as of May 29, 2007, by and among Holdings and the Stockholders (as defined herein) that are parties thereto (the “Stockholders Agreement”),
that sets forth applicable provisions relating to the management and ownership of Holdings and its subsidiaries, including the right of an affiliate of Tri-Artisan Capital Partners, LLC (the member of one of the Fund’s affiliated funds) to
appoint one of the members of Holdings board of directors and the right of the Fund to appoint the remaining members of Holding’s board of directors. In addition, the Stockholders Agreement contains customary information rights, drag along
rights, tag along rights, preemptive rights, registration rights and restrictions on the transfer of Holding’s common stock. 

  

	2.	Amended and Restated Incentive Plan filed as Exhibit 10.1 to Form 8-K filed on May 20, 2011, as such Plan may be amended from time to time. 








 SCHEDULE 3.13 

Taxes 
 None. 







 SCHEDULE 3.16 

Environmental Matters 

None. 







 SCHEDULE 3.18 

Material Real Estate 

None. 







 SCHEDULE 3.23 

Intellectual Property 

None. 







 SCHEDULE 3.25 

Anti-Money Laundering Laws 

None. 







 SCHEDULE 6.01 

Indebtedness 
 Foreign Subsidiaries have
bank credit facilities totaling approximately $2.3 million. These facilities have been arranged in accordance with customary lending practices in their respective countries of operation. As of April 30, 2016, Foreign Subsidiaries had a reduction of
$2.1 million for outstanding bank guarantees, which reduces the borrowing availability to $0.2 million as of that date. 







 SCHEDULE 6.02(a) 

Liens 
  

	1.	Lien by General Electric Capital Corporation against Claire’s Boutiques, Inc. evidenced by initial filing number 2010F002745. 

  

	2.	Lien by CBL-Friendly Center CMBS, LLC against Claire’s Boutiques, Inc. evidenced by initial filing number 20102066248. 

  

	3.	Lien by Xerox Corporation against Claire’s Boutiques, Inc. evidenced by initial filing number 2011F035438. 

  

	4.	Lien by Silverlake Sorrento East, LLC against Claire’s Boutiques, Inc. evidenced by initial filing number 20132048600. 

  

	5.	Lien by IBM Credit LLC against CBI Distributing Corp. evidenced by initial filing number 2013 3151850. 

  

	6.	Lien by IBM Credit LLC against CBI Distributing Corp. evidenced by initial filing number 2013 3173284. 








 SCHEDULE 6.04 

Investments 
 Key money deposits in the
amount of $53,000,000 for leases in France. 







 SCHEDULE 6.07 

Transactions with Affiliates 
  

	1.	Reference is made to related party transaction disclosures in the Borrower’s Form 10-Ks and Form 10-Qs filed with the U.S. Securities and Exchange Commission. 


 

	2.	Reference is made to the Stockholders Agreement listed on Schedule 3.08(b). 








 SCHEDULE 9.01 

Notice Information 
 Administrative Agent
or Collateral Agent: 
 Credit Suisse 
 Eleven Madison Avenue

 New York, NY 10010 
 Attention: Agency Group 

Fax No.: (212) 325-8304 
 Borrower and Other Loan Parties:

 Claire’s Stores, Inc. 
 3 SW 129th Avenue 
 Suite 400 

Attention: Ron Marshall, Chief Executive Officer 
 Pembroke
Pines, FL 33027 
 Fax No.: (954) 433-3999 
 Website:
http://www.clairestores.com/phoenix.zhtml?c=68915&p=irol-sec