Document:

Collateral Agency and Intercreditor Agreement

 EXHIBIT 10.4 
 COLLATERAL AGENCY AND INTERCREDITOR AGREEMENT 
 COLLATERAL AGENCY AND INTERCREDITOR AGREEMENT
dated as of October 3, 2008, by and among AMPEX CORPORATION, a Delaware corporation (the “Borrower”), THE SUBSIDIARIES OF THE BORROWER PARTY HERETO (the “Subsidiary Guarantors”), HILLSIDE CAPITAL INCORPORATED
(“Hillside”), in its capacity as collateral agent for the First Lien Claimholders and the Second Lien Claimholders (each as defined below) (together with its successors and assigns in such capacity, the “Collateral
Agent”), U.S. BANK NATIONAL ASSOCIATION, in its capacity as indenture trustee under the First Lien Indenture (as defined below) (together with its successors and assigns in such capacity, the “First Lien Trustee”) and
Hillside, in its capacity as the lender under the Second Lien Credit Agreement (as defined below) (together with its successors and assigns in such capacity, the “Second Lien Lender”). Capitalized terms used in this introductory
paragraph and the in recitals below but not otherwise defined herein or therein have the meanings set forth in Section 1 below. 
 RECITALS 
 WHEREAS, the Borrower, the Subsidiary Guarantors and the First Lien Trustee have entered into that certain
amended and restated indenture, dated as of the date hereof, providing for the issue of the First Lien Notes (as defined below) (as amended, restated, supplemented, modified or refinanced from time to time in accordance with the terms hereof, the
“First Lien Indenture”); 
 WHEREAS, the Borrower, the Subsidiary Guarantors and the Second Lien Lender have entered into
that certain credit agreement, dated as of the date hereof, providing for certain loan facilities (as amended, restated, supplemented, modified or Refinanced from time to time in accordance with the terms hereof, the “Second Lien Credit
Agreement”); 
 WHEREAS, the Borrower, certain Subsidiary Guarantors of the Borrower and the Second Lien Lender are entering into
the Hillside-Ampex/Sherborne Agreement (as defined herein), providing for, inter alia, the issuance of Series A Preferred Stock (as defined herein) by the Borrower to the Second Lien Lender and its affiliates, and guarantees by certain Subsidiary
Guarantors of the Loans under the Second Lien Credit Agreement and of the Borrower’s obligations to make payments to the Second Lien Lender and its affiliates in respect of the Series A Preferred Stock of the Borrower; 
 WHEREAS, the Borrower, the Subsidiary Guarantors and the Collateral Agent party thereto, have entered into that certain security agreement, dated as of
the date hereof, under which security interests over substantially all of the assets of the Borrower and the Subsidiary Guarantors are granted in favor of the Collateral Agent, acting on behalf of the First Lien Trustee and the Second Lien Lender
(as amended, restated, supplemented or modified from time to time, the “Security Agreement”); 
 WHEREAS, pursuant to
(i) Article XII of the First Lien Indenture, the Subsidiary Guarantors have agreed to guarantee the First Lien Notes (the “First Lien Guaranty”); (ii) Article III of the Second Lien Credit
Agreement, the Subsidiary Guarantors have agreed to guarantee the Loans referred to therein (the “Second Lien Guaranty”); and (iii) pursuant to the Hillside-Ampex/Sherborne Agreement, the Subsidiary Guarantors have
agreed to guarantee the Loans and the Series A Preferred Stock; 

 WHEREAS, the obligations of the Borrower under the First Lien Indenture and the obligations of the
Subsidiary Guarantors under the First Lien Guaranty will be secured on a first priority basis by liens on substantially all the assets (other than the Excluded Collateral, as defined in the Security Agreement) of the Borrower and the Subsidiary
Guarantors, respectively, pursuant to the terms of the Security Agreement; 
 WHEREAS, the obligations of the Borrower under the Second Lien
Credit Agreement and the obligations of the Subsidiary Guarantors under the Second Lien Guaranty will be secured on a second priority basis by liens on substantially all the assets (other than the Excluded Collateral, as defined in the Security
Agreement) of the Borrower, and the Subsidiary Guarantors, respectively, pursuant to the terms of the Security Agreement; 
 WHEREAS, the
First Lien Credit Documents and the Second Lien Credit Documents provide, among other things, that the parties thereto shall set forth in this Agreement their respective rights and remedies with respect to the Collateral; and 
 WHEREAS, in order to induce the holders of the First Lien Notes to enter into the transactions contemplated by the First Lien Indenture, the Second Lien
Lender has agreed to the subordination, intercreditor and other provisions set forth in this Agreement. 
 NOW, THEREFORE, in consideration
of the foregoing, the mutual covenants and obligations herein set forth and for other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as
follows: 
 Section 1. Definitions. 
 1.1 Defined Terms. Capitalized terms used but not defined herein shall have the meanings provided therefor in the Second Lien Credit Agreement. As used in the Agreement, the following terms shall have the
following meanings: 
 “Accounts” means any and all deposit accounts and securities investment accounts of the Grantors.

 “Affiliate” means, 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. 
 “Agreement” means this
Collateral Agency and Intercreditor Agreement, as amended, renewed, extended, supplemented or otherwise modified from time to time in accordance with the terms hereof. 
 “Bankruptcy Code” means Title 11 of the United States Code entitled “Bankruptcy,” as now and hereafter in effect, or any successor statute. 
  

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 “Bankruptcy Law” means the Bankruptcy Code and any similar federal, state or foreign law
for the relief of debtors. 
 “Borrower” has the meaning assigned to that term in the Preamble hereto. 
 “Business Day” means 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. 
 “Claimholders” means, collectively, the First Lien Claimholders and the Second Lien
Claimholders. 
 “Collateral” means all of the assets and property of any Grantor, whether real, personal or mixed,
constituting both First Lien Collateral and Second Lien Collateral. 
 “Collateral Agent” has the meaning assigned to that
term in the Preamble hereto. 
 “Control” means 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 ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 
 “Control Agreements” means control agreements covering Accounts entered into by the Collateral Agent, the Borrower or any Grantor and a
depository bank or securities intermediary, as applicable, which shall secure both the First Lien Secured Obligations and the Second Lien Secured Obligations in the aggregate. 
 “DIP Financing” means a financing obtained by the Borrower or any other Grantor, whether from the First Lien Claimholders or any other
entity under Section 363 or Section 364 of the Bankruptcy Code or any similar Bankruptcy Law. 
 “Discharge of First Lien
Secured Obligations” means, without duplication and except to the extent otherwise provided in Section 5.6, and subject at all times to Section 6.4, (a) payment in full in cash of the principal of and interest
(including interest accruing on or after the commencement of any Insolvency or Liquidation Proceeding, whether or not such interest would be allowed in such Insolvency or Liquidation Proceeding) and premium, if any, on all First Lien Notes and
(b) payment in full in cash of all other First Lien Secured Obligations that are due and payable or otherwise accrued and owing at or prior to the time such principal and interest are paid. 
 “Disposition” has the meaning set forth in Section 5.1(a)(ii). 
 “Enforcement Action” means (a) to take from or for the account of any Borrower or Subsidiary Guarantor, by set-off or in any other
manner, the whole or any part of any moneys which may now or hereafter be owing by such Borrower or Subsidiary Guarantor to any First Lien Claimholder, (b) to notify account debtors or directly collect accounts receivable or other payment
rights of any Borrower or Subsidiary Guarantor, (c) take any action under the provisions of any state or federal law, including, without limitation, the Uniform Commercial Code, or under any contract or agreement, to enforce, foreclose upon,
take possession of or sell any Collateral, or (d) declare immediately due and payable by acceleration the First Lien Notes; provided that the issuance of a notice of Default or Event of Default, reservation of rights letter or other
similar notice shall not be deemed to be an Enforcement Action. 
  

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 “Event of Default” means an Event of Default under (and as defined in) either the First
Lien Indenture or the Second Lien Credit Agreement. 
 “First Lien Claimholders” means, at any relevant time, the holders of
First Lien Secured Obligations at such time, including without limitation the First Lien Trustee and the First Lien Noteholders or any Affiliate of the First Lien Trustee or any such holder. 
 “First Lien Collateral” has the meaning assigned to that term in the Security Agreement. 
 “First Lien Credit Documents” means the First Lien Indenture, the First Lien Notes, the Security Agreement and each of the other
agreements, documents and instruments providing for or evidencing any other First Lien Secured Obligation, and any other document or instrument executed or delivered at any time in connection with any First Lien Secured Obligations, including any
intercreditor or joinder agreement among holders of First Lien Secured Obligations, to the extent such are effective at the relevant time, as each may be modified from time to time in accordance with the terms of this Agreement; provided that
any such modification does not increase the principal amount of First Lien Secured Obligations permitted under this Agreement. 
 “First Lien Guaranty” has the meaning assigned to that term in the Recitals hereto. 
 “First Lien
Indenture” has the meaning set forth in the Recitals hereto. 
 “First Lien Noteholders” means the holder of any
note issued under the First Lien Indenture. 
 “First Lien Notes” means the Borrower’s 12% Senior Secured Notes due
2009 issued under the First Lien Indenture. 
 “First Lien Secured Obligations” means the First Lien Notes in an aggregate
principal amount at any one time outstanding of up to $3,658,080, as such principal amount may be increased by amendments complying with Section 5.3(a) hereof, and all other obligations, liabilities and indebtedness of every kind, nature and
description owing by the Grantors to the First Lien Claimholders and/or any of their respective affiliates under or in connection with the First Lien Credit Documents (as in effect on the date hereof or amended in accordance with the terms hereof),
including interest, charges, fees, costs, indemnities and expenses, however evidenced, whether as principal, surety, endorser, guarantor or otherwise, whether now existing or hereafter arising, whether arising before, during or after the
commencement of an Insolvency or Liquidation Proceeding (including the payment of interest and other amounts which would accrue and become due but for the commencement of such Insolvency or Liquidation Proceeding, whether or not such amounts are
allowed or allowable in whole or in part in such Insolvency or Liquidation Proceeding), whether direct or indirect, absolute or contingent, joint or several, due or not due, primary or secondary, liquidated or unliquidated, secured or unsecured, and
however acquired by the First Lien Claimholders. To the extent any payment with respect to 

  

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the First Lien Secured Obligations (whether by or on behalf of any Grantor, as proceeds of security, enforcement of any right of set-off or otherwise) is
declared to be fraudulent or preferential in any respect, set aside or required to be paid to a debtor in possession, trustee, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall be deemed to be
reinstated and outstanding as if such payment had not occurred. 
 “First Lien Security Interest” means any Lien on the
First Lien Collateral granted in favor of the Collateral Agent for the benefit of the First Lien Claimholders, including under Section 3(i) of the Security Agreement. 
 “First Lien Trustee” has the meaning set forth in the Preamble hereto. 
 “GAAP” means generally accepted accounting principles in the United States of America, applied on a consistent basis. 
 “Governmental Authority” means the government of the United States of America or any other nation, or of any political subdivision
thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining
to government (including any supra-national bodies such as the European Union or the European Central Bank). 
 “Grantors”
means the Borrower and each of the Subsidiary Guarantors that have executed and delivered, or may from time to time hereafter execute and deliver, a Security Document. 
 “Hillside-Ampex/Sherborne Agreement” means the amended and restated agreement dated October 3, 2008, among (i) Ampex Corporation and each other member of the Ampex Group (as therein
defined), (ii) Hillside and each other member of the Limited Hillside Group (as therein defined), and (iii) Sherborne Holdings Incorporated and each other member of the Sherborne Group (as therein defined). 
 “Insolvency or Liquidation Proceeding” means (a) any voluntary or involuntary case or proceeding under the Bankruptcy Code
with respect to any Grantor, (b) any other voluntary or involuntary insolvency, reorganization or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding with respect to any
Grantor or with respect to a material portion of their respective assets, (c) any liquidation, dissolution, reorganization or winding up of any Grantor whether voluntary or involuntary and whether or not involving insolvency or
bankruptcy or (d) any assignment for the benefit of creditors or any other marshalling of assets and liabilities of any Grantor. 
 “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset, (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 and (c) in the case of securities, any
purchase option, call or similar right of a third party with respect to such securities. 
  

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 “Majority Claimholders” means, at any time, (a) Claimholders holding in excess of
50% of the aggregate principal amount of First Lien Secured Obligations at such time and (b) Claimholders holding in excess of 50% of the aggregate principal amount of the Second Lien Secured Obligations at such time. 
 “Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership,
Governmental Authority or other entity. 
 “Pledged Collateral” has the meaning set forth in Section 5.5 hereof.

 “Recovery” has the meaning set forth in Section 6.4 hereof. 
 “Refinance” means, in respect of any indebtedness, to refinance, extend, renew, defease, amend, modify, supplement, restructure,
replace, refund or repay, or to issue other indebtedness, in exchange or replacement for, such indebtedness in whole or in part. “Refinanced” and “Refinancing” shall have correlative meanings. 
 “Required Claimholders” means, at any time during the Standstill Period, the holders of the First Lien Secured Obligations and
thereafter, the holders of the Second Lien Secured Obligations. 
 “Second Lien Claimholders” means, at any relevant time,
the holders of Second Lien Secured Obligations at such time, including without limitation the Second Lien Lender or any Affiliate of the Second Lien Lender under the Second Lien Credit Agreement. 
 “Second Lien Collateral” has the meaning assigned to that term in the Security Agreement. 
 “Second Lien Credit Agreement” has the meaning set forth in the Recitals hereto. 
 “Second Lien Credit Documents” means the Second Lien Credit Agreement, the Security Agreement, the Hillside-Ampex/Sherborne Agreement,
the other Loan Documents and each of the other agreements, documents and instruments providing for or evidencing any other Second Lien Secured Obligation, and any other document or instrument executed or delivered at any time in connection with any
Second Lien Secured Obligations, including any intercreditor or joinder agreement among holders of Second Lien Secured Obligations, to the extent such are effective at the relevant time, as each may be modified or Refinanced from time to time in
accordance with the terms hereof; provided that any such modification does not increase the principal amount thereof beyond the aggregate principal amount of Second Lien Secured Obligations permitted under this Agreement on the date hereof.

 “Second Lien Guaranty” has the meaning assigned to that term in the Recitals hereto. 
 “Second Lien Lender” means the “Lender” under and as defined in the Second Lien Credit Agreement. 
  

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 “Second Lien Secured Obligations” means all “Loans” outstanding under and as
defined in the Second Lien Credit Agreement and the other Second Lien Credit Documents, an aggregate principal amount at any one time outstanding of up to $25,000,000, as such principal amount may be increased by amendments complying with
Section 5.3(b) hereof, the Series A Preferred Stock, the guarantees by the Subsidiary Guarantors of the Loans and of the Series A Preferred Stock contained in the Hillside-Ampex/Sherborne Agreement executed and delivered in connection with the
Second Lien Credit Agreement, and all other obligations, liabilities and indebtedness of every kind, nature and description owing by the Grantors to the Second Lien Claimholders and/or any of their respective affiliates under or in connection with
the Second Lien Credit Documents (as in effect on the date hereof or amended in accordance with the terms thereof and hereof), including interest, charges, fees, costs, indemnities and expenses, however evidenced, whether as principal, surety,
endorser, guarantor or otherwise, whether now existing or hereafter arising, whether arising before, during or after the initial or any renewal term of the Second Lien Credit Agreement or after the commencement of an Insolvency or Liquidation
Proceeding (including the payment of interest and other amounts which would accrue and become due but for the commencement of such Insolvency or Liquidation Proceeding, whether or not such amounts are allowed or allowable in whole or in part in such
Insolvency or Liquidation Proceeding), whether direct or indirect, absolute or contingent, joint or several, due or not due, primary or secondary, liquidated or unliquidated, secured or unsecured, and however acquired by the Second Lien
Claimholders. To the extent any payment with respect to the Second Lien Secured Obligations (whether by or on behalf of any Grantor, as proceeds of security, enforcement of any right of set-off or otherwise) is declared to be fraudulent or
preferential in any respect, set aside or required to be paid to a debtor in possession, trustee, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall be deemed to be reinstated and outstanding as
if such payment had not occurred. 
 “Second Lien Security Interest” means any Lien on the Second Lien Collateral granted in
favor of the Collateral Agent for the benefit of the Second Lien Claimholders, including under Section 3(ii) of the Security Agreement. 
 “Security Agreement” has the meaning set forth in the Recitals hereto. 
 “Security Documents”
means, collectively, the Security Agreement and all Uniform Commercial Code financing statements required by the Security Agreement to be filed with respect to the security interests in personal property and fixtures created pursuant to the Security
Agreement. 
 “Series A Preferred Stock” has the meaning assigned to such term in the Hillside-Ampex/Sherborne Agreement.

 “Standstill Period” means the period of 60 days after the date on which the principal of the First Lien Notes is
accelerated pursuant to Section 7.02 of the First Lien Note Indenture. 
 “Subsidiary” means, with respect to any
Person (the “parent”) at any date, any corporation, limited liability company, partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial
statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any other corporation, limited liability company, partnership, association or other entity (a) of which securities or other ownership
interests representing more than 50% of the 

  

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equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are, as of such
date, owned, controlled or held, or (b) that is, as of such date, 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. Unless otherwise specified,
“Subsidiary” means a Subsidiary of the Borrower. 
 “Subsidiary Guarantors” has the meaning set forth in the
Preamble hereto. 
 “Transaction Documents” means, the First Lien Credit Documents, the Second Lien Credit Documents and the
Plan of Reorganization. 
 “Uniform Commercial Code” or “UCC” means the Uniform Commercial Code (or any
similar or equivalent legislation) as in effect in any applicable jurisdiction. 
 1.2 Terms Generally. The definitions of terms
herein shall apply equally to 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.” The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the context requires
otherwise (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise
modified, (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein”, “hereof” and “hereunder”, and words of similar
import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Exhibits or Sections shall be construed to refer to Exhibits or Sections of this Agreement and
(e) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract
rights. 
 Section 2. Lien Priorities. 
 2.1 Relative Priorities. Notwithstanding the date, manner or order of grant, attachment or perfection of any Liens securing the Second Lien Secured Obligations granted on the Collateral, or of any Liens
securing the First Lien Secured Obligations granted on the Collateral and notwithstanding any provision of the UCC or any other applicable law or the provisions of the Second Lien Credit Documents or any other circumstance whatsoever (including,
without limitation, the time, order or method of grant, attachment, recording or perfection of any financing statements or other security interests, assignments, pledges, deeds, mortgages and other liens, charges or encumbrances or any defect or
deficiency or alleged defect or deficiency in any of the foregoing, or the fact that any such Liens securing First Lien Secured Obligations are at any time (x) subordinated to any Lien securing any obligation of any Person or to any
Indebtedness in favor of any Person or (y) otherwise subordinated, voided, avoided, invalidated or lapsed), the Second Lien Lender, for itself and on behalf of the Second Lien Claimholders, hereby agrees that: (a) any Lien on the
Collateral securing any First Lien Secured Obligations now or hereafter held by or on behalf of the First Lien Trustee or any First Lien Claimholders or any agent or trustee therefor, regardless of how acquired, whether by grant, 

  

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possession, statute, operation of law, subrogation or otherwise, shall be senior in all respects and prior to any Lien on the Collateral securing any Second
Lien Secured Obligations; and (b) any Lien on the Collateral now or hereafter held by or on behalf of any Second Lien Claimholders or any agent or trustee therefor, regardless of how acquired, whether by grant, possession, statute,
operation of law, subrogation or otherwise, shall be junior and subordinate in all respects to all Liens on the Collateral securing any First Lien Secured Obligations. All Liens on the Collateral securing any First Lien Secured Obligations shall be
and remain senior in all respects and prior to all Liens on the Collateral securing any Second Lien Secured Obligations for all purposes, regardless of the time, order or method of grant, attachment, recording or perfection of any financing
statements or other security interests, assignments, pledges, deeds, mortgages and other liens, charges or encumbrances or any defect or deficiency or alleged defect or deficiency in any of the foregoing, or the fact that any such Liens in favor of
any First Lien Trustee are (x) subordinated to any Lien securing any obligation of any Person or to any Indebtedness in favor of any Person or (y) otherwise subordinated, voided, avoided, invalidated or lapsed. 
 2.2 Prohibition on Contesting Liens. Each of the Second Lien Lender, for itself and on behalf of each Second Lien Claimholder, and the First Lien
Trustee, for itself and on behalf of each First Lien Claimholder, agrees that it shall not (and hereby waives any right to) contest, or support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding),
the priority, validity or enforceability of a Lien held by or on behalf of any of the First Lien Claimholders in the First Lien Collateral or by or on behalf of any of the Second Lien Claimholders in the Second Lien Collateral, as the case may be;
provided that nothing in this Agreement shall be construed to prevent or impair the rights of the First Lien Trustee or any First Lien Claimholder to enforce this Agreement, including the priority of the Liens securing the First Lien Secured
Obligations as provided in Sections 2.1 and 3.1, the application of proceeds of Collateral in Section 4.1, the turnover of payments in Section 4.2 and the release of the Liens encumbering the Collateral as provided in Section 5.

 2.3 No New Liens. So long as the Discharge of First Lien Secured Obligations has not occurred, whether or not any Insolvency or
Liquidation Proceeding has been commenced by or against the Borrower or any Subsidiary Guarantor, the parties hereto agree that the Borrower shall not, and shall not permit any Subsidiary Guarantor to, (i) grant or permit any additional
Liens on any asset or property to secure any Second Lien Secured Obligation by the Borrower, a Subsidiary Guarantor or any Subsidiary thereof unless such entity has granted a Lien on such asset or property to secure the First Lien Secured
Obligations, (ii) grant or permit any additional Liens on any asset or property to secure any First Lien Secured Obligations by the Borrower, a Subsidiary Guarantor or any Subsidiary thereof unless such entity has granted a Lien on such
asset or property to secure the Second Lien Secured Obligations, (iii) cause a Subsidiary to guarantee any Second Lien Secured Obligations unless it has caused such Subsidiary to guarantee the First Lien Secured Obligations on the same terms
hereof and (iv) cause a Subsidiary to guarantee any First Lien Secured Obligations unless it has caused such Subsidiary to guarantee the Second Lien Secured Obligations on the same terms hereof. To the extent that the foregoing provisions are
not complied with for any reason, without limiting any other rights and remedies available to the First Lien Trustee and/or the First Lien Claimholders, the Second Lien Lender, for itself and on behalf of the Second Lien Claimholders, agrees that
any amounts received by or distributed to any of them pursuant to or as a result of Liens granted in contravention of this Section 2.3 shall be subject to Section 4.2. 
  

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 2.4 Similar Liens and Agreements. The parties hereto agree that it is their intention that the
First Lien Collateral and the Second Lien Collateral be identical. In furtherance of the foregoing and of Section 9.9, the parties hereto agree, subject to the other provisions of this Agreement: 
 (a) upon request by the First Lien Trustee or the Second Lien Lender, to cooperate in good faith (and to direct their counsel to cooperate
in good faith) from time to time in order to determine the specific items included in the First Lien Collateral and the Second Lien Collateral and the steps taken to perfect their respective Liens thereon and the identity of the respective parties
obligated under the First Lien Credit Documents and the Second Lien Credit Documents; and 
 (b) that the documents and
agreements creating or evidencing the First Lien Collateral and the Second Lien Collateral for the First Lien Secured Obligations and the Second Lien Secured Obligations shall be in all material respects the same forms of documents other than with
respect to the first lien and the second lien nature of the Obligations thereunder. 
 Section 3. Enforcement. 
 3.1 Exercise of Remedies. 
 (a) The
First Lien Claimholders and the Second Lien Claimholders agree that, except as otherwise expressly provided in this Section 3.1, the Collateral Agent shall have the exclusive right to exercise all rights and remedies under the Security
Documents and otherwise with respect to the Collateral (including, without limitation, the exercise of any right under any lockbox agreement, account control agreement, landlord waiver or bailee’s letter or similar agreement or arrangement) and
to institute any action or proceeding with respect to such rights or remedies (including any action of foreclosure), provided that (i) prompt notice of any exercise of any rights and remedies under the Security Documents shall have been
provided by the Collateral Agent to the First Lien Trustee and the Second Lien Lender and (ii) in exercising any such right or remedy and taking any such action the Collateral Agent shall in all cases act or refrain from acting at the direction
of the First Lien Claimholders and/or the Second Lien Claimholders given in accordance with the terms of this Agreement. 
 (b) So long as
the Discharge of First Lien Secured Obligations has not occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced by or against the Borrower or any other Grantor: 
 (i) Until the expiration of the Standstill Period, the First Lien Trustee shall have the exclusive right to (x) direct the Collateral
Agent to enforce rights, exercise remedies and make determinations regarding the release, disposition, or restrictions with respect to the Collateral as provided in Section 3.1(a) in the sole discretion of the First Lien Trustee on behalf of
the First Lien Claimholders without any consultation with or consent of the Second Lien Lender or any other Second Lien Claimholder and (y) set-off and credit bid the First Lien Secured Obligations; provided that (A) in any
Insolvency or Liquidation Proceeding commenced by or against the Borrower or any other Grantor, a 

  

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Second Lien Claimholder may file a claim or statement of interest with respect to the Second Lien Secured Obligations held by it, (B) a Second
Lien Claimholder may take any action (not adverse to the prior Liens on the Collateral securing the First Lien Secured Obligations and the rights to exercise rights in respect thereof in accordance with the terms hereof and not inconsistent with the
terms of this Agreement) in order to preserve or protect any Lien securing the Second Lien Secured Obligations, (C) the Second Lien Claimholders shall be entitled to file any necessary responsive or defensive pleadings in opposition to
any motion, claim, adversary proceeding or other pleading made by any person objecting to or otherwise seeking the disallowance of the claims of the Second Lien Claimholders, including without limitation any claims secured by the Collateral, if any,
in each case in accordance with the terms of this Agreement, (D) the Second Lien Claimholders shall be entitled to file any pleadings, objections, motions or agreements which assert rights or interests available to unsecured creditors of
the Grantors arising under either Bankruptcy Law or applicable non-bankruptcy law, in each case in accordance with the terms of this Agreement, (E) the Second Lien Claimholders shall be entitled to file any proof of claim and other
filings and make any arguments and motions that are, in each case, in accordance with the terms of this Agreement, with respect to the Second Lien Secured Obligations and the Collateral and (F) after the termination of the Standstill
Period, the Second Lien Claimholders shall have the rights specified in clause (iii) below. Any such exercise and enforcement by the Collateral Agent at the direction of the First Lien Trustee shall include the rights of an agent appointed by
the Collateral Agent to sell or otherwise dispose of Collateral upon foreclosure, to incur expenses in connection with such sale or disposition, and to exercise all the rights and remedies of a secured creditor under the Uniform Commercial Code of
any applicable jurisdiction and of a secured creditor under Bankruptcy Laws of any applicable jurisdiction. 
 (ii) The Second
Lien Claimholders (A) will not contest, protest or object to any foreclosure proceeding or action brought by the Collateral Agent at the direction of the First Lien Trustee or any other exercise by the Collateral Agent at the direction of the
First Lien Trustee of any rights and remedies relating to the Collateral under the Transaction Documents or otherwise and (B) subject to their rights under clause (iii) below, will not object to the forbearance by the Collateral Agent (at
the direction of the First Lien Trustee) from bringing or pursuing any foreclosure proceeding or action or any other exercise of any rights or remedies relating to the Collateral, in each case so long as the respective interests of the Second Lien
Claimholders attach to the proceeds thereof subject to the relative priorities described in Section 2 and Section 4 hereof. 
 (iii) Upon the termination of the Standstill Period, the Second Lien Claimholders shall have the right to (x) direct the Collateral Agent to enforce rights, exercise remedies and make determinations regarding the
release, disposition, or restrictions with respect to the Collateral as provided in Section 3.1(a) (prompt notice of such direction to be given to the First Lien Trustee) and (y) set-off and credit bid the Second Lien Secured Obligations,
provided, that notwithstanding anything herein to the contrary, in no event shall any Second Lien Claimholder have the right to so direct the Collateral Agent if and for so long as, notwithstanding the expiration of the Standstill Period, the
Collateral Agent shall have received direction from the First Lien Trustee 

  

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prior to the termination of the Standstill Period regarding the exercise of any of its rights or remedies with respect the Collateral and shall be diligently
pursuing the same or if any Insolvency or Liquidation Proceeding has been commenced in respect of any Grantor and the First Lien Claimholders have been stayed by operation of law or any court order from pursuing any such exercise of remedies, and
further provided, that any Collateral or proceeds thereof or any other payment, in each case received by the Second Lien Claimholders prior to the Discharge of First Lien Secured Obligations at any time shall be segregated and held in trust
and promptly forthwith paid over to the First Lien Trustee for the benefit of the First Lien Claimholders in the same form as received in accordance with and to the extent required by Section 4.2. 
 (c) The Second Lien Lender, for itself and on behalf of the Second Lien Claimholders, agrees that it will not take or receive any Collateral or any
proceeds of Collateral in connection with the exercise of any right or remedy (including set-off) with respect to any Collateral, unless and until the Discharge of First Lien Secured Obligations has occurred. Without limiting the generality of the
foregoing, unless and until the Discharge of First Lien Secured Obligations has occurred, the sole right of the Second Lien Lender and the Second Lien Claimholders with respect to the Collateral is to hold a Lien on the Collateral pursuant to the
Security Agreement and to receive a share of the proceeds thereof, if any, after the Discharge of the First Lien Secured Obligations has occurred. The Second Lien Lender, for itself and on behalf of the Second Lien Claimholders hereby acknowledges
and agrees that no covenant, agreement or restriction contained in the Second Lien Credit Documents (other than this Agreement) shall be deemed to restrict in any way the rights and remedies with respect to the Collateral as set forth in this
Agreement and the First Lien Credit Documents. 
 (d) Subject to the foregoing clauses (b)(i) and (iii), the Second Lien Lender, for itself
and on behalf of the Second Lien Claimholders, (i) agrees that the Second Lien Lender and the Second Lien Claimholders will not take any action that would hinder any exercise of remedies under the Security Documents or is otherwise
prohibited hereunder, including any sale, lease, exchange, transfer or other disposition of the Collateral, whether by foreclosure or otherwise, and (ii) hereby waives any and all rights it or the Second Lien Claimholders may have as a
junior lien creditor or otherwise to object to the manner in which the Collateral Agent or the First Lien Claimholders seek to enforce or collect the First Lien Secured Obligations or the Liens granted in any of the First Lien Collateral, regardless
of whether any action or failure to act by or on behalf of the Collateral Agent or the First Lien Claimholders is adverse to the interest of the Second Lien Claimholders. 
 3.2 No Enforcement. Until the expiration of the Standstill Period and subject to Section 3.1(b)(iii), the Second Lien Lender, for itself and on behalf of the Second Lien Claimholders, agrees that, unless
and until the Discharge of First Lien Secured Obligations has occurred, it will not commence, or join with any Person in commencing, any enforcement, collection, execution, levy or foreclosure action or proceeding (including, without limitation, any
Insolvency or Liquidation Proceeding) with respect to any Lien held by it under the Security Documents. 
  

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 Section 4. Payments. 
 4.1 Applications of Proceeds; Subordination. 
 (a) No Payments on Second Lien Secured Obligations. 
 (i) So long as the Discharge of First Lien Secured
Obligations has not occurred, the Second Lien Lender agrees for itself and on behalf of the Second Lien Claimholders that other than as provided in this subsection (a): (x) no payment shall be made in respect of the Second Lien Secured
Obligations, directly or indirectly, by or on behalf of the Borrower or any Subsidiary Guarantor and (y) the Second Lien Claimholders shall not take or receive from the Borrower, any Subsidiary Guarantor or any Person on the Borrower or any
Subsidiary Guarantor’s behalf, directly or indirectly, in cash or other property or by set-off or in any other manner, including from or by way of any Collateral, any payment in respect of the Second Lien Secured Obligations. 
 (ii) The Borrower, the Subsidiary Guarantors and the Second Lien Lender on behalf of the Second Lien Claimholders agree that the Second
Lien Secured Obligations are expressly “subordinate and junior in right of payment” (as that phrase is defined in clause (iii) below) to all First Lien Secured Obligations. 
 (iii) “Subordinate and junior in right of payment” means that none of the Second Lien Claimholders shall have a claim to the
assets of any Borrower or Subsidiary Guarantor on a parity with or prior to the claim of the First Lien Claimholders; and so long as the Discharge of First Lien Secured Obligations has not occurred, the Second Lien Claimholders shall not demand or
directly or indirectly accept or receive from any of the Borrower or the Subsidiary Guarantors and the Borrower and the Subsidiary Guarantors will not make, give or permit, directly or indirectly, by set-off, redemption, purchase or in any other
manner, any payment or pre-payment of (of whatever kind or nature, whether in cash, property, securities, or otherwise) the whole or any part of the Second Lien Secured Obligations, including without limitation any letter of credit or similar credit
support facility to support payment of the Second Lien Secured Obligations; provided that payments of regularly scheduled interest on the Second Lien Secured Obligations may be paid by the Borrower and received by the Second Lien Lender, if and
solely to the extent such payments do not violate Section 5.13 of the First Lien Indenture, and (B) the Second Lien Claimholders may accelerate the Second Lien Secured Obligations and exercise their rights and remedies with respect to the
Collateral in the manner permitted in Section 3.1, in each case subject to Section 4.2. 
 (iv) The Borrower, the
Subsidiary Guarantors, the Collateral Agent, and the Second Lien Lender, on behalf of itself and the Second Lien Claimholders, agree that upon the occurrence of any Insolvency or Liquidation Proceeding: 
 A. all First Lien Secured Obligations shall be paid in full in cash before any payment or distribution of whatever kind or nature is made
with respect to the Second Lien Secured Obligations; and 
  

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 B. any payment or distribution of assets of any Borrower or Subsidiary Guarantor, whether
in cash, property or securities, to which the Second Lien Claimholders would be entitled except for the provisions hereof, shall be paid or delivered by the Borrower or the Subsidiary Guarantors, or any receiver, trustee in bankruptcy, liquidating
trustee, disbursing agent or other Person making such payment or distribution, directly to the First Lien Trustee, to the extent necessary to pay in full in cash all First Lien Secured Obligations, before any payment or distribution of any kind or
nature shall be made to the Second Lien Claimholders. 
 (b) Proceeds of Collateral. So long as an Event of Default has occurred and
is continuing, any Collateral or proceeds thereof received by the Collateral Agent in connection with the sale or other disposition of, or collection on, such Collateral upon the exercise of remedies, shall be applied by the Collateral Agent in the
following order of priority: 
 (i) first, to the payment of the costs and expenses of any such sale, disposition,
collection, or other exercise of remedies, including reasonable out-of-pocket costs and expenses of the Collateral Agent and the fees and expenses of its agents and counsel, and all expenses incurred and advances made by the Collateral Agent in
connection therewith; 
 (ii) second, to the payment in full in cash of the First Lien Secured Obligations in such
order as specified in the relevant First Lien Credit Documents; 
 (iii) third, to the payment in full in cash of the
Second Lien Secured Obligations, in each case equally and ratably in accordance with the respective amounts thereof then due and owing or as the Second Lien Claimholders may otherwise agree; and 
 (iv) fourth, to the payment to the Obligors, or their respective successors or assigns, or as a court of competent jurisdiction may
direct, of any surplus then remaining. 
 Upon the Discharge of the First Lien Secured Obligations, each First Lien Claimholder shall deliver to the
Collateral Agent any excess proceeds of Collateral held by such First Lien Claimholder in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct to be applied by the Collateral Agent
and the Second Lien Claimholders as is specified herein. 
 4.2 Turnover of Payments. So long as the Discharge of First Lien Secured
Obligations has not occurred, any Collateral or proceeds thereof (together with assets or proceeds subject to Liens referred to in the final sentence of Section 2.3) and any payment or distribution, whether consisting of money, property or
securities collected or received by the Second Lien Lender or any Second Lien Claimholders in respect of the Second Lien Secured Obligations, both before and after commencement of any Liquidation or Insolvency Proceeding and including specifically
any distribution on account of any proof of claim or interest of any Second Lien 

  

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Claimholders in any Liquidation or Insolvency Proceeding, in contravention of this Agreement shall be segregated and held in trust and forthwith paid over to
the First Lien Trustee for the benefit of the First Lien Claimholders in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct and the Second Lien Lender shall promptly notify the
First Lien Trustee of the receipt of such payment or distribution. The Collateral Agent is hereby authorized to make any such endorsements as agent for the Second Lien Lender or any such Second Lien Claimholders. This authorization is coupled with
an interest and is irrevocable until such time as this Agreement is terminated in accordance with its terms. For avoidance of doubt, regularly scheduled payments of interest received by the Second Lien Lender in respect of the Second Lien Secured
Obligations solely to the extent permitted as described in Section 4.1(a)(iii) and payment of fees and expenses permitted under Section 5.13 of the First Lien Indenture, shall not be subject to turn over pursuant to this Section 4.2.

 Section 5. Other Agreements. 
 5.1 Releases. 
 (a) If, in connection with: 
 (i) the exercise of any of the Collateral Agent’s remedies in respect of the Collateral provided for in Section 3.1, including
any sale, lease, exchange, transfer or other disposition of any such Collateral; or 
 (ii) any sale, lease, exchange,
transfer or other disposition (collectively, a “Disposition”) of any Collateral permitted under the terms of the Transaction Documents, 
 the Collateral Agent, for itself or on behalf of any of the First Lien Claimholders in accordance with Section 5.1(c), releases any First Lien Security Interest, other than in connection with the Discharge of First Lien Secured
Obligations, then any Second Lien Security Interest in such Collateral and the obligations of such Grantor under its Second Lien Guaranty shall be automatically, unconditionally and simultaneously released and the Collateral Agent, for itself and on
behalf of the Second Lien Claimholders, promptly shall execute such termination statements, releases and other documents as may be reasonably required to confirm such release. For avoidance of doubt, this Section 5.1 shall not apply to any
release of a Lien that does not facilitate a concurrent Disposition of released Collateral to a Person who is neither a Grantor nor an Affiliate of a Grantor (which release shall require the specific approvals provided under both the First Lien
Indenture and the Second Lien Credit Agreement) or that is not in connection with the exercise of remedies in respect of the Collateral provided for in Section 3.1. 
 (b) Until the Discharge of First Lien Secured Obligations occurs, to the extent that the Collateral Agent (acting at the direction of the First Lien Claimholders) (i) has released any Lien on Collateral or
any Grantor from its obligation under its guaranty and any such Liens or guaranty are later reinstated or (ii) obtains any new first priority liens or additional guarantees from Grantors, then the Collateral Agent shall be granted a
second priority lien on any such Collateral and an additional guaranty, as the case may be, for the benefit of the Second Lien Claimholders. Until the Discharge of First Lien Secured Obligations occurs, to the extent that 

  

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the Collateral Agent or the Second Lien Claimholders obtain any new Liens or additional guarantees from Grantors, then the Collateral Agent shall be granted
a first priority Lien on any such Collateral and an additional guaranty, as the case may be, on the same terms for the benefit of the First Lien Claimholders. 
 (c) Until the Discharge of First Lien Secured Obligations occurs, the Collateral Agent shall not take any action to release any First Lien Security Interest unless it has been directed to do so by the First Lien
Trustee. 
 5.2 Insurance. Unless and until the Discharge of First Lien Secured Obligations has occurred, the Collateral Agent, acting
at the direction of the First Lien Trustee on behalf of the First Lien Claimholders, shall have the sole and exclusive right, subject to the rights of the Grantors under the Transaction Documents, to adjust settlement for any insurance policy
covering the Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) affecting the Collateral. Unless and until the Discharge of First Lien
Secured Obligations has occurred, and subject to the rights of the Grantors under the Security Documents, all proceeds of any such policy and any such award (or any payments with respect to a deed in lieu of condemnation) if in respect to the
Collateral shall be applied as provided in Section 4.1(b) this Agreement. Until the Discharge of First Lien Secured Obligations has occurred, if the Second Lien Lender or any Second Lien Claimholders shall, at any time, receive any proceeds of
any such insurance policy or any such award or payment in contravention of this Agreement and the First Lien Indenture, it shall segregate and hold in trust and forthwith pay such proceeds over to the Collateral Agent in accordance with the terms of
Section 4.2 of this Agreement. 
 5.3 Amendments to First Lien Credit Documents and Second Lien Credit Documents. 
 (a) Without the prior written consent of the Second Lien Lender no First Lien Credit Document may be Refinanced, amended, supplemented or otherwise
modified or entered into to the extent such Refinancing, amendment, supplement or modification, or the terms of any new First Lien Credit Document would: 
 (i) contravene the provisions of this Agreement; 
 (ii) change any Collateral for the First
Lien Secured Obligations (other than to release such Collateral from the First Lien Security Interest or to provide for additional Collateral that secures both the First Lien Secured Obligations and Second Lien Secured Obligations in accordance with
the terms of this Agreement); 
 (iii) increase the principal amount of the First Lien Notes in excess of $3,658,080;

 (iv) increase the stated interest rate other than increase by operation of application of the default rate or the amount of
fees payable thereunder; 
 (v) change any dates upon which payments of principal or interest are due thereon; 
  

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 (vi) change the prepayment provisions thereof; 
 (vii) increase materially the obligations of the Borrower or Subsidiary Guarantors thereunder or to confer any additional material rights
on the noteholders under the First Lien Indenture (or a representative on their behalf) which would be adverse to the Borrower or the Subsidiary Guarantors or Second Lien Lender or the Second Lien Claimholders; or 
 (viii) change Section 5.13 of the First Lien Indenture or any defined term referenced therein. 
 (b) Without the prior written consent of the First Lien Trustee, no Second Lien Credit Document may be Refinanced, amended, supplemented or otherwise
modified to the extent such amendment, supplement or modification, or the terms of any new Second Lien Credit Document would: 
 (i) contravene the provisions of this Agreement; 
 (ii) change (to earlier dates) any dates upon which payments of
principal, interest or fees are due in respect of the Second Lien Secured Obligations; 
 (iii) change any Collateral for the
Second Lien Secured Obligations (other than to release such Collateral from the Second Lien Security Interest or to provide for additional Collateral that secures both the First Lien Secured Obligations and Second Lien Secured Obligations in
accordance with the terms of this Agreement); 
 (iv) increase the principal amount of the Loans under the Second Lien Credit
Documents in excess of $25,000,000; 
 (v) change the prepayment provisions thereof; 
 (vi) increase the stated interest rate other than increase by operation of application of the default rate or the amount of fees payable
thereunder; or 
 (vii) increase materially the obligations of the Borrower or Subsidiary Guarantors thereunder or to confer
any additional material rights on the Second Lien Lender (or a representative on their behalf) or the Second Lien Claimholders which would be adverse to the Borrower or the Subsidiary Guarantors or the First Lien Claimholders; or 
 (viii) change any section of the Second Lien Credit Agreement referenced herein or in the Security Agreement or any defined terms
referenced therein. 
 Without limiting the foregoing, the Second Lien Credit Agreement may not be Refinanced unless (1) the terms and conditions of
such Refinancing debt are no less favorable in the aggregate to the First Lien Claimholders than the Second Lien Credit Documents, (2) the holders of such Refinancing debt (directly or through an agent) shall bind themselves in writing (in form
and substance satisfactory to the First Lien Trustee) to the terms of this Agreement and the collateral 

  

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agent under such Refinancing debt shall execute a joinder agreement and (3) such Refinancing shall not contravene the provisions of this Agreement. The
Second Lien Lender on behalf of the Second Lien Claimholders agrees that, so long as the Discharge of First Lien Secured Obligations has not occurred, it will not take or omit to take any action whereby the subordination hereunder of all of any part
of the Second Lien Secured Obligations may be impaired. 
 (c) The parties hereto agree that each Second Lien Credit Document shall include
the following language (or language to similar effect approved by the First Lien Trustee): 
 “Notwithstanding anything herein to the
contrary, the obligations hereunder and the lien and security interest granted pursuant to this Agreement are subject to the provisions of the Collateral Agency and Intercreditor Agreement, dated as of October 3, 2008 (as amended, restated,
supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), by and among Ampex Corporation (“Ampex”), the subsidiaries of Ampex party thereto, as subsidiary guarantors, Hillside Capital Incorporated
(“Hillside”) in its capacity as collateral agent for the First Lien Claimholders and Second Lien Claimholders (as such terms are defined therein), U.S. Bank National Association in its capacity as indenture trustee under the indenture for
the 12% Senior Secured Notes due 2009 of Ampex, and Hillside, as lender under that certain Credit Agreement, dated of October 3, 2008 by and among Ampex and the Subsidiary Guarantors and certain other persons party or that may become party
thereto from time to time. In the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern and control.” 
 provided, that no legend, assignment or endorsement or delivery of notes, guarantees or instruments shall be necessary to subject any Second Lien Secured Obligations to
the provisions of this Agreement. 
 5.4 Rights As Unsecured Creditors. Except as otherwise set forth in Sections 2.1, 3.1(d), 4
and 6 of this Agreement, the Second Lien Lender and the Second Lien Claimholders may exercise rights and remedies as unsecured creditors against the Borrower or any Subsidiary Guarantor that has guaranteed the Second Lien Secured Obligations in
accordance with the terms of the Second Lien Credit Documents and applicable law. Except as otherwise set forth in Sections 2.1, 3.1(d), 4 and 6 of this Agreement, nothing in this Agreement shall prohibit the receipt by the Second Lien Lender
or any Second Lien Claimholders of the required payments of interest so long as such payments are not the direct or indirect result of the exercise by the Second Lien Lender or any Second Lien Claimholder (or the Collateral Agent on their behalf) of
rights and remedies as a secured creditor (including set-off) or enforcement in contravention of this Agreement of any Second Lien Security Interest. Nothing in this Agreement impairs or otherwise adversely affects any rights or remedies the
Collateral Agent, the First Lien Trustee or the other First Lien Claimholders may have with respect to the First Lien Collateral. In the event that any Second Lien Claimholder becomes a judgment lien creditor in respect of Collateral as a result of
its enforcement of its rights as an unsecured creditor, such judgment lien shall be subject to the terms of this Agreement for all purposes (including in relation to the First Lien Collateral and the First Lien Secured Obligations) to the same
extent as the other Second Lien Security Interests are subject to this Agreement. 
  

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 5.5 Bailee for Perfection. 
 (a) The Collateral Agent agrees to hold that part of the Collateral that is in its possession or control (or in the possession or control of its agents
or bailees), to the extent that possession or control thereof is taken to perfect a Lien thereon under the Uniform Commercial Code (such Collateral being the “Pledged Collateral”), as collateral agent on behalf and for the benefit
of the First Lien Claimholders and the Second Lien Claimholders and any assignee of any of them solely for the purpose of perfecting the First Lien Security Interests and the Second Lien Security Interests, respectively, subject to the terms and
conditions of this Section 5.5. 
 (b) The Collateral Agent shall have no obligation whatsoever to the First Lien Trustee, the First
Lien Claimholders, the Second Lien Lender or any other Second Lien Claimholders to ensure that the Pledged Collateral is genuine or owned by any of the Grantors or to preserve rights or benefits of any Person except as expressly set forth in this
Section 5.5. The duties or responsibilities of the Collateral Agent under this Section 5.5 shall be limited solely to holding the Pledged Collateral as bailee in accordance with this Section 5.5. 
 (c) The Collateral Agent acting pursuant to this Section 5.5 shall not have by reason of the this Agreement, the Security Agreement or any other
document a fiduciary relationship in respect of the First Lien Trustee, the First Lien Claimholders, the Second Lien Lender or any other Second Lien Claimholders. 
 (d) Upon the Discharge of the First Lien Secured Obligations, the Collateral Agent shall continue to hold the Pledged Collateral (if any) on behalf of the Second Lien Claimholders. 
 5.6 First Lien Secured Obligation Purchase Rights. 
 (a) Without prejudice to the enforcement of the First Lien Claimholders’ remedies, the First Lien Claimholders agree that, after the acceleration of the principal amount of the First Lien Secured Obligations and
at least five (5) Business Days prior to the taking by the First Lien Claimholders or the Collateral Agent (at their direction) of any other Enforcement Action pertaining to the First Lien Secured Obligations in accordance with the terms of the
First Lien Indenture or the Security Agreement, the First Lien Claimholders will offer the Second Lien Claimholders the option to purchase the entire aggregate amount of outstanding First Lien Secured Obligations at par plus accrued and unpaid
interest and fees, and premium, if any, in cash, without warranty or representation or recourse. The Second Lien Claimholders shall accept or reject such offer within ten (10) Business Days after delivery of such notice (it being
understood and agreed that failure to give written notice of such acceptance within such 10-Business Day period shall be deemed a rejection of such offer). If the Second Lien Claimholders accept such offer, it shall be exercised pursuant to
documentation mutually acceptable to each of the First Lien Trustee and the Second Lien Lender and the parties shall endeavor to close promptly thereafter but in any event within fifteen (15) Business Days of acceptance by the Second Lien
Claimholder. If the Second Lien Claimholders reject (or are deemed to reject such offer) such offer, the First Lien Claimholders shall have no further obligations pursuant to this Section 5.6(a) and may take any further actions in their
sole discretion in accordance with the First Lien Credit Documents and this Agreement. For the avoidance of doubt, such offer is required to be made only once prior to commencing any Enforcement Action. 
  

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 (b) In connection with each proposed sale of Collateral pursuant to Section 5.05 of the Security
Agreement (at the direction of the First Lien Trustee) to a prospective purchaser (each, a “Proposed Sale”), the Collateral Agent shall, prior to committing to consummate such Proposed Sale, provide the Second Lien Lender reasonable
prior notice thereof, which notice shall state the name of the proposed purchaser thereof, the portion of the Collateral proposed to be sold, the proposed sale price thereof, the proposed trade date therefor (the “Proposed Trade
Date”) and any other material terms of such Proposed Sale. 
 5.7 Coordination. The First Lien Trustee and the Second Lien
Lender acknowledge that, pursuant to Sections 6.09 of the Second Lien Credit Agreement and Section 5.17 of the First Lien Indenture, the Borrower has undertaken parallel obligations to the First Lien Claimholders and the Second Lien
Claimholders with respect to the subject matter of such sections. In order to coordinate and harmonize the obligations of the Grantors under such Section 6.09 and such Section 5.17, the Collateral Agent, the Second Lien Lender and the
First Lien Trustee each agree to consult with each other and cooperate in establishing a unitary set of requirements pursuant to which the Grantors shall satisfy their respective obligations under such Section 6.09 and Section 5.17.

 Section 6. Insolvency or Liquidation Proceedings. 
 6.1 Relief from the Automatic Stay. Until the Discharge of First Lien Secured Obligations has occurred, the Second Lien Lender, for itself and on
behalf of the Second Lien Claimholders, and the Collateral Agent agrees that none of them shall seek relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the Collateral, without the prior written
consent of the First Lien Trustee. 
 6.2 Adequate Protection. The Second Lien Lender, for itself and on behalf of the Second Lien
Claimholders, agrees that none of them shall contest (or support any other person contesting) (a) any request by the First Lien Trustee or the other First Lien Claimholders for adequate protection or (b) any objection by the
First Lien Trustee or the other First Lien Claimholders to any motion, relief, action or proceeding based on the First Lien Trustee or the other First Lien Claimholders claiming a lack of adequate protection. Notwithstanding the foregoing provisions
in this Section 6.2, in any Insolvency or Liquidation Proceeding, (i) if the First Lien Claimholders (or any subset thereof) are granted adequate protection in the form of additional collateral in connection with any DIP Financing,
then the Second Lien Lender, for itself and on behalf of any of the Second Lien Claimholders, may seek or request adequate protection in the form of a Lien on such additional collateral, which Lien will be subordinated to the Liens securing the
First Lien Secured Obligations and such DIP Financing (and all Obligations relating thereto) on the same basis as the other Liens securing the Second Lien Secured Obligations are so subordinated to the First Lien Secured Obligations under this
Agreement, and (ii) in the event the Second Lien Lender, for itself and on behalf of the Second Lien Claimholders, seeks or requests adequate protection in respect of Second Lien Secured Obligations and such adequate protection is
granted in the form of additional collateral, then the Second Lien Lender, for itself and on behalf of any of the Second Lien Claimholders, agrees that the First Lien Claimholders shall also be granted a senior Lien on such additional collateral as
security for the First Lien Secured Obligations and that any Lien on such additional collateral securing the Second Lien Secured Obligations shall be subordinated to the Liens on such 

  

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collateral securing the First Lien Secured Obligations and to any other Liens granted to the First Lien Claimholders as adequate protection on the same basis
as the other Liens securing the Second Lien Secured Obligations are so subordinated to such First Lien Secured Obligations under this Agreement. Each of the First Lien Claimholders and the Second Lien Claimholders shall be entitled to seek cash
adequate protection payments, provided that in the case of the Second Lien Claimholders, such cash adequate protection payments shall be subject to Section 4.2 of this Agreement to the extent that such cash adequate protection is paid
from proceeds of Collateral disposed of outside of the ordinary course of business. Nothing shall herein limit the rights of the Second Lien Claimholders from seeking adequate protection with respect to their rights in the Collateral and during any
Insolvency or Liquidation Proceeding in the form of cash payments with respect to interest on the Second Lien Secured Obligations, provided either (1) as adequate protection for the First Lien Secured Obligations, the First Lien Trustee,
on behalf of the First Lien Claimholders, is also granted cash payments with respect to interest on the First Lien Secured Obligations, or (2) such cash payments do not exceed an amount equal to the interest accruing on the principal amount of
Second Lien Secured Obligations outstanding on the date such relief is granted at the interest rate as in effect on the date hereof under the Second Lien Credit Documents and accruing from the date the Second Lien Lender is granted such relief.
Notwithstanding anything herein to the contrary, the First Lien Claimholders shall not be deemed to have consented to the grant of adequate protection in the form of cash payments to the Second Lien Claimholders made pursuant to this
Section 6.2. 
 6.3 No Waiver. Subject to the proviso in clause (i) of Section 3.1(b) of this Agreement, nothing
contained herein shall prohibit or in any way limit the First Lien Trustee or any other First Lien Claimholder from objecting in any Insolvency or Liquidation Proceeding or otherwise to any action taken by the Second Lien Lender or any other Second
Lien Claimholder, including the seeking by the Second Lien Lender or any other Second Lien Claimholder of adequate protection or the asserting by the Second Lien Lender or any other Second Lien Claimholder of any of its rights and remedies under the
Second Lien Credit Documents or otherwise. 
 6.4 Avoidance Issues. If any First Lien Claimholder is required in any Insolvency or
Liquidation Proceeding or otherwise to disgorge, turn over or otherwise pay to the estate of any Grantor, because such amount was avoided or ordered to be paid or disgorged for any reason, including without limitation because it was found to be a
fraudulent or preferential transfer, any amount (a “Recovery”), whether received as proceeds of security, enforcement of any right of set-off or otherwise, then the claims of the First Lien Claimholders shall be reinstated to the
extent of such Recovery and deemed to be outstanding as if such payment had not occurred and the Discharge of the First Lien Secured Obligations shall be deemed not to have occurred. If this Agreement shall have been terminated prior to such
Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto. The Second Lien Claimholders agree that none
of them shall be entitled to benefit from any avoidance action affecting or otherwise relating to any distribution or allocation made in accordance with this Agreement, whether by preference of otherwise, it being understood and agreed that the
benefit of such avoidance action otherwise allocable to them shall instead by allocated and turned over to the Collateral Agent for application in accordance with the priorities set forth in this Agreement. 
  

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 6.5 Reorganization Securities. If, in any Insolvency or Liquidation Proceeding, debt obligations
of the reorganized debtor secured by Liens upon any property of the reorganized debtor are distributed pursuant to a plan of reorganization or similar dispositive restructuring plan, both on account of First Lien Secured Obligations and on account
of Second Lien Secured Obligations, then, subject to Section 4, to the extent the debt obligations distributed on account of the First Lien Secured Obligations and on account of the Second Lien Secured Obligations are secured by Liens upon the
same property, the provisions of this Agreement will survive the distribution of such debt obligations pursuant to such plan and will apply with like effect to the Liens securing such debt obligations. 
 6.6 Post-Petition Interest. Neither the Second Lien Lender nor any other Second Lien Claimholder shall oppose nor seek to challenge any claim by
the First Lien Trustee or any other First Lien Claimholder for allowance in any Insolvency or Liquidation Proceeding of First Lien Secured Obligations consisting of post-petition interest, fees or expenses to the extent of the value of the First
Lien Security Interests, without regard to the existence of the Second Lien Security Interests. 
 6.7 Waiver. The Second Lien
Claimholders waive any claim they may hereafter have against any First Lien Claimholder arising out of the election of any First Lien Claimholder of the application of Section 1111(b)(2) of the Bankruptcy Code, and/or out of any cash collateral
or financing arrangement or out of any grant of a security interest in connection with the Collateral in any Insolvency or Liquidation Proceeding. 
 6.8 Separate Grants of Security and Separate Classification. Each Second Lien Claimholder acknowledges and agrees that (i) the grants of Liens pursuant to Sections 3.1(i) and 3.1(ii) of the Security Agreement constitute
two separate and distinct grants of Liens and (ii) because of, among other things, their differing rights in the Collateral, the Second Lien Secured Obligations are fundamentally different from the First Lien Secured Obligations and must
be separately classified in any plan of reorganization proposed or adopted in an Insolvency or Liquidation Proceeding. To further effectuate the intent of the parties as provided in the immediately preceding sentence, if it is held that the claims
against the First Lien Claimholders and Second Lien Claimholders in respect of the Collateral constitute only one secured claim (rather than separate classes of senior and junior secured claims), then the Second Lien Claimholders hereby acknowledge
and agree that all distributions shall be made as if there were separate classes of senior and junior secured claims against the Borrower and the Subsidiary Guarantors in respect of the Collateral with the effect being that, to the extent that the
aggregate value of the Collateral is sufficient (for this purpose ignoring all claims held by the Second Lien Claimholders), the First Lien Claimholders shall be entitled to receive, in addition to amounts distributed to them in respect of
principal, pre-petition interest, default interest and other claims, all amounts owing in respect of post-petition interest before any distribution is made in respect of the claims held by the Second Lien Claimholders, with the Second Lien
Claimholders hereby acknowledging and agreeing to turn over to the First Lien Claimholders amounts otherwise received or receivable by them to the extent necessary to effectuate the intent of this sentence, even if such turnover has the effect of
reducing the claim or recovery of the Second Lien Claimholders. 
  

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 Section 7. Reliance; Waivers; Etc. 
 7.1 Reliance. The First Lien Trustee, for itself and on behalf of the First Lien Claimholders under the First Lien Credit Documents, acknowledges
that it has, independently and without reliance on the Collateral Agent, the Second Lien Lender or any other Second Lien Claimholder, and based on the terms of this Agreement and the other documents and information deemed by it appropriate, made its
own credit analysis and decision to enter into the First Lien Credit Documents and be bound by the terms of this Agreement and it will continue to make its own credit decision in taking or not taking any action under the First Lien Indenture, this
Agreement or the other Transaction Documents. Each Second Lien Claimholder acknowledges that it has, independently and without reliance on the Collateral Agent or any First Lien Claimholder, and based on documents and information deemed by such
Second Lien Claimholder appropriate, made its own credit analysis and decision to enter into the Second Lien Credit Documents and be bound by the terms of this Agreement and it will continue to make its own credit decision in taking or not taking
any action under the Second Lien Credit Agreement, this Agreement or the other Transaction Documents. 
 7.2 No Warranties or
Liability. The First Lien Trustee, for itself and on behalf of the First Lien Claimholders under the First Lien Credit Documents, acknowledges and agrees that each of the Collateral Agent, the Second Lien Lender and the other Second Lien
Claimholders have made no express or implied representation or warranty, including with respect to the execution, validity, legality, completeness, collectibility or enforceability of any of the Transaction Documents, the ownership of any Collateral
or the perfection or priority of any Liens thereon. The Second Lien Claimholders will be entitled to manage and supervise their respective loans and extensions of credit under the Second Lien Credit Documents in accordance with law and as they may
otherwise, in their sole discretion, deem appropriate. The Second Lien Claimholders acknowledge and agree that the First Lien Trustee and the other First Lien Claimholders have made no express or implied representation or warranty, including with
respect to the execution, validity, legality, completeness, collectibility or enforceability of any of the Transaction Documents, the ownership of any Collateral or the perfection or priority of any Liens thereon. The First Lien Claimholders will be
entitled to manage and supervise their respective loans and extensions of credit under their respective First Lien Credit Documents in accordance with law and as they may otherwise, in their sole discretion, deem appropriate. The Second Lien
Claimholders shall have no duty to the First Lien Trustee or any of other the First Lien Claimholders, and the First Lien Claimholders shall have no duty to the Second Lien Lender or any of the other Second Lien Claimholders, to act or refrain from
acting in a manner which allows, or results in, the occurrence or continuance of an event of default or default under any agreements with the Borrower or any Subsidiary Guarantor (including the First Lien Credit Documents and the Second Lien Credit
Documents), regardless of any knowledge thereof which they may have or be charged with. 
 7.3 No Waiver of Lien Priorities or
Subordination. 
 (a) No right of the First Lien Claimholders or any of them to enforce any provision of this Agreement or any First Lien
Credit Document shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Borrower or any other Grantor or by any act or failure to act by any First Lien Claimholder, or by any noncompliance by any Person
with 

  

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the terms, provisions and covenants of this Agreement, any of the First Lien Credit Documents or any of the Second Lien Credit Documents, regardless of any
knowledge thereof which the First Lien Claimholders, or any of them, may have or be otherwise charged with; 
 (b) The Second Lien
Claimholders agree that the First Lien Claimholders shall have no liability to any Second Lien Claimholders, and the Second Lien Claimholders hereby waive any claim against any First Lien Claimholder arising out of, any and all actions that the
First Lien Claimholders may take or permit or omit to take with respect to: (i) the First Lien Credit Documents, (ii) the collection of the First Lien Secured Obligations or (iii) the foreclosure upon, or sale,
liquidation or other disposition of, any First Lien Collateral. The Second Lien Claimholders agree that the First Lien Claimholders have no duty to them in respect of the maintenance or preservation of the First Lien Collateral, the First Lien
Secured Obligations or otherwise; and 
 (c) The Second Lien Claimholders agree not to assert and hereby waive, to the fullest extent
permitted by law, any right to demand, request, plead or otherwise assert or otherwise claim the benefit of, any marshalling, appraisal, valuation or other similar right that may otherwise be available under applicable law with respect to the
Collateral or any other similar rights a junior secured creditor may have under applicable law. 
 7.4 Obligations Unconditional. All
rights, interests, agreements and obligations of the Collateral Agent, the First Lien Claimholders and the Second Lien Claimholders, respectively, hereunder shall remain in full force and effect irrespective of: 
 (a) any lack of validity or enforceability of any First Lien Credit Documents or any Second Lien Credit Documents; 
 (b) except to the extent expressly set forth in the Agreement, any change in the time, manner or place of payment of, or in any other
terms of, all or any of the First Lien Secured Obligations or Second Lien Secured Obligations, or any amendment or waiver or other modification, including any increase in the amount thereof, whether by course of conduct or otherwise, of the terms of
any First Lien Credit Document or any Second Lien Credit Document; 
 (c) any exchange of any security interest in any
Collateral or any other collateral, or any amendment, waiver or other modification, whether in writing or by course of conduct or otherwise, of all or any of the First Lien Secured Obligations or Second Lien Secured Obligations or any guarantee
thereof; 
 (d) the commencement of any Insolvency or Liquidation Proceeding in respect of the Borrower or any other Grantor;
or 
 (e) any other circumstances which otherwise might constitute a defense available to, or a discharge of, the Borrower or
any other Grantor in respect of the First Lien Secured Obligations, or of the Second Lien Lender or any Second Lien Claimholder in respect of this Agreement. 
  

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 Section 8. Collateral Agency for Security Documents. 
 8.1 Appointment. 
 (a) Each First
Lien Claimholder and each Second Lien Claimholder hereby irrevocably appoints Hillside as Collateral Agent hereunder and under the Security Documents and authorizes the Collateral Agent to take such actions on its behalf and to exercise such powers
as are delegated to the Collateral Agent by the terms hereof and thereof, together with such actions and powers as are reasonably incidental thereto. Hillside agrees to act in the capacity of Collateral Agent in accordance with the express
conditions contained in this Agreement, the Security Agreement and the other Security Documents. 
 (b) Hillside shall have the same rights
and powers in its capacity as a Second Lien Claimholder as any other Person and may exercise the same as though it were not the Collateral Agent, and Hillside may generally engage in any kind of business with the Borrower or any Subsidiary or other
Affiliate thereof as if it were not the Collateral Agent. 
 (c) The Collateral Agent shall not have any duties or obligations except those
expressly set forth herein. Without limiting the generality of the foregoing, (a) the Collateral 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, (b) the Collateral Agent shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the Security Agreement that the
Collateral Agent is required to exercise in writing as directed by the Required Claimholders (or such other type, number or percentage of the Claimholders as shall be specified) in accordance with the terms of this Agreement, and (c) except as
expressly set forth herein, the Collateral Agent shall not 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 Subsidiaries that is communicated to or obtained by
Hillside or any of its Affiliates in any capacity. The Collateral Agent shall not be liable for any action taken or not taken by it with the consent or at the request of the Required Claimholders (or such other type, number or percentage of the
Claimholders as shall be specified) in accordance with the terms of this Agreement or in the absence of its own bad faith, gross negligence or willful misconduct. The Collateral Agent shall be deemed not to have knowledge of any Default or Event of
Default unless and until written notice thereof is given to the Collateral Agent by the Borrower or a Claimholder and upon receipt thereof shall promptly and in no case later than two (2) Business Days following the receipt thereof deliver a
copy of such notice to the First Lien Trustee and the Second Lien Lender, and the Collateral 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 Transaction Document, (ii) the contents of any certificate, report or other document delivered hereunder or in connection herewith, (iii) the performance or observance of any of the covenants, agreements or
other terms or conditions set forth herein or (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, the Security Agreement or any other agreement, instrument or document or the validity of any Lien granted or
purported to be granted under any Security Document. 
  

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 (d) The Collateral 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 believed by it to be genuine and to have been signed or sent by the proper Person. The Collateral Agent also may rely upon any statement made to it
orally or by telephone and believed by it to be made by the proper Person, and shall not incur any liability for relying thereon. The Collateral Agent may consult with legal counsel (who may be counsel for Hillside), 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. 
 (e) The Collateral Agent may perform any and all its duties and exercise its rights and powers by or through any one or more sub-agents appointed by the Collateral Agent in good faith. The Collateral Agent and any
such sub-agent may perform any and all its duties and exercise its rights and powers through their respective Affiliates. The exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to any Affiliate of the Collateral
Agent and any such sub-agent. 
 (f) Subject to the appointment and acceptance of a successor Collateral Agent as provided in this paragraph,
the Collateral Agent may resign at any time by notifying the First Lien Trustee, the Second Lien Lender and the Borrower. Upon any such resignation, the Majority Claimholders shall have the right to appoint a successor. If no successor shall have
been so appointed by the Majority Claimholders and shall have accepted such appointment within 30 days after the retiring Collateral Agent gives notice of its resignation, then the retiring Collateral Agent may, on behalf of the Claimholders,
appoint a successor Collateral Agent which shall be a bank with an office in New York, New York, or an Affiliate of any such bank. Upon the acceptance of its appointment as Collateral Agent hereunder by a successor, such successor shall succeed to
and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent, and the retiring Collateral Agent shall be discharged from its duties and obligations hereunder. After the Collateral Agent’s resignation
hereunder, the provisions of this Article shall continue in effect for the benefit of such retiring Collateral Agent, its sub-agents and their respective Affiliates in respect of any actions taken or omitted to be taken by any of them while it was
acting as Collateral Agent. 
 (g) The First Lien Claimholders and the Second Lien Claimholders have agreed (i) to provide for the
granting of the First Lien Security Interests and the Second Lien Security Interests pursuant to the a single Security Agreement and (ii) to share the Lien of a single Control Agreement in respect of each Account for which a Control Agreement
is required pursuant to the terms of such Security Agreement. In furtherance thereof, the First Lien Claimholders and the Second Lien Claimholders have agreed that each Security Document shall be in the name of Hillside, as Collateral Agent. The
First Lien Claimholders and the Second Lien Claimholders hereby acknowledge that the Collateral Agent will have “control” under the UCC over each Account subject to a Control Agreement for the benefit of both the First Lien Claimholders
and the Second Lien Claimholders pursuant to the Control Agreements relating to each such Account. 
  

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 (h) The Collateral Agent will permit the Second Lien Claimholders and the First Lien Claimholders upon
reasonable notice from time to time to inspect and copy, at the cost and expense of the party requesting such copies, any and all Security Documents and other documents, notices, certificates, instructions or communications received by the
Collateral Agent in its capacity as such. 
 8.2 Exercise of Rights and Remedies. Subject to the terms of this Agreement, until the
Discharge of the First Lien Secured Obligations occurs, the Collateral Agent shall be entitled to, and shall, deal with the Security Documents upon the instruction of the First Lien Trustee in accordance with the terms of such Security Documents and
the First Lien Credit Documents as if the Second Lien Security Interests did not exist, except that: 
 (i) the Collateral
Agent may not release any Second Lien Security Interests without the consent of the Second Lien Lender, except in connection with dispositions permitted by, or as otherwise expressly set forth in, this Agreement; and 
 (ii) upon the termination of a Standstill Period, if the Collateral Agent has not received direction from the First Lien Trustee, the
Second Lien Lender may direct the Collateral Agent, and the Collateral Agent agrees, to act in order to exercise the rights and remedies of the Second Lien Claimholders in the manner permitted by Section 3.1(b)(iii). 
 Section 9. Miscellaneous. 
 9.1
Conflicts. In the event of any conflict between the provisions of this Agreement and the provisions of any of the First Lien Credit Documents or any of the Second Lien Credit Documents, the provisions of this Agreement shall govern and
control. 
 9.2 Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed
and delivered by the parties hereto. This Agreement, which the parties hereto expressly acknowledge is a “subordination agreement” under Section 510(a) of the Bankruptcy Code, shall, for the avoidance of any doubt, be effective
before, during and after the commencement of an Insolvency or Liquidation Proceeding. The First Lien Claimholders may continue, at any time and without notice to the Second Lien Lender or any Second Lien Claimholder subject to the Second Lien Credit
Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of the Borrower or any Grantor constituting First Lien Secured Obligations in reliance hereof. The Second Lien Lender, for itself and on behalf of
the Second Lien Claimholders, hereby waives any right it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction
shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Borrower or any other
Grantor shall include the Borrower or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Borrower or any other Grantor (as the case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate
and be of no further force and effect, (i) with respect to the Second Lien Lender, the Second Lien Claimholders and the Second Lien Secured Obligations, upon the later of (1) the date upon which the obligations under the
Second Lien Credit Agreement terminate if there are no other Second Lien Secured Obligations outstanding on such date and (2) if there are other 

  

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Second Lien Secured Obligations outstanding on such date, the date upon which such Second Lien Secured Obligations terminate, provided that any such
termination shall not be effective if the events described in clauses (1) or (2) occur as a result of any violation of this Agreement on or prior to such termination and shall be subject to reinstatement as provided in Section 6.5 and
(ii) with respect to the First Lien Trustee, the First Lien Claimholders and the First Lien Secured Obligations, the date of Discharge of First Lien Secured Obligations, subject to the rights of the First Lien Claimholders under
Section 6.4. 
 9.3 Amendments; Waivers. No amendment, modification or waiver of any of the provisions of this Agreement by the
Second Lien Lender or the First Lien Trustee shall be deemed to be made unless the same shall be in writing signed on behalf of each party hereto or its authorized agent and each waiver, if any, shall be a waiver only with respect to the specific
instance involved and shall in no way impair the rights of the parties making such waiver or the obligations of the other parties to such party in any other respect or at any other time. No amendment, modification or waiver that adversely affects
the rights of the Collateral Agent in its capacity as such will become effective without the consent of the Collateral Agent. No amendment or supplement to the provisions of any Security Document will be effective without the consent of the Second
Lien Lender and the First Lien Trustee except to update schedules pursuant to the Security Agreement, to add Collateral in accordance with the terms of this Agreement and the Security Agreement or except as otherwise expressly permitted herein.
Notwithstanding the foregoing, the Borrower shall not have any right to consent to or approve any amendment, modification or waiver of any provision of this Agreement except to the extent its rights and obligations or the rights and obligations of
any other Grantor are directly and adversely affected. 
 9.4 Information Concerning Financial Condition of the Borrower and its
Subsidiaries. The First Lien Trustee and the First Lien Claimholders, on the one hand, and the Second Lien Claimholders and the Second Lien Lender, on the other hand, shall each be responsible for keeping themselves informed of
(a) the financial condition of the Borrower and its Subsidiaries and all endorsers and/or guarantors of the First Lien Secured Obligations or the Second Lien Secured Obligations and (b) all other circumstances bearing upon
the risk of nonpayment of the First Lien Secured Obligations or the Second Lien Secured Obligations. The First Lien Trustee and the First Lien Claimholders shall have no duty to advise the Second Lien Lender or any Second Lien Claimholder of
information known to it or them regarding such condition or any such circumstances or otherwise. In the event the First Lien Trustee or any of the First Lien Claimholders, in its or their sole discretion, undertakes at any time or from time to time
to provide any such information to the Second Lien Lender or any Second Lien Claimholder, it or they shall be under no obligation (w) to make, and the First Lien Trustee and the First Lien Claimholders shall not make, any express or
implied representation or warranty, including with respect to the accuracy, completeness, truthfulness or validity of any such information so provided, (x) to provide any additional information or to provide any such information on any
subsequent occasion, (y) to undertake any investigation or (z) to disclose any information which, pursuant to accepted or reasonable commercial finance practices, such party wishes to maintain confidential or is otherwise
required to maintain confidential. 
  

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 9.5 Subrogation. The Second Lien Lender, for itself and on behalf of the Second Lien Claimholders,
hereby waives any rights of subrogation it may acquire as a result of any payment hereunder until the Discharge of First Lien Secured Obligations has occurred. 
 9.6 Application of Payments. All payments received by the First Lien Trustee or the First Lien Claimholders may be applied, reversed and reapplied, in whole or in part, to such part of the First Lien Secured
Obligations provided for in the First Lien Credit Documents. The Second Lien Lender, for itself and on behalf of the Second Lien Claimholders, assents to any extension or postponement of the time of payment of the First Lien Secured Obligations or
any part thereof and to any other indulgence with respect thereto, to any substitution, exchange or release of any security which may at any time secure any part of the First Lien Secured Obligations and to the addition or release of any other
Person primarily or secondarily liable therefor. 
 9.7 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 ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER FIRST LIEN CREDIT DOCUMENT, ANY OTHER SECOND LIEN CREDIT DOCUMENT OR
THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). 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. 
 9.8 Notices. All notices to the Second Lien Claimholders and the First Lien Claimholders
permitted or required under this Agreement shall also be sent to the Second Lien Lender and the First Lien Trustee, respectively. The Collateral Agent shall send copies of all notices and directions received by the Collateral Agent in its capacity
as such hereunder or under the Security Documents to the Second Lien Lender and the First Lien Trustee (to the extent such Persons have not already received such notice or directions) reasonably promptly following the receipt thereof, but in no
event later than two (2) Business Days after the receipt thereof. Unless otherwise specifically provided herein, any notice hereunder shall be in writing and may be personally served, telexed or sent by telefacsimile or United States mail or
courier service and shall be deemed to have been given when delivered in person or by courier service and signed for against receipt thereof, upon receipt of telefacsimile or telex, or three Business Days after depositing it in the United
States mail with postage prepaid and properly addressed. For the purposes hereof, the addresses of the parties hereto shall be as set forth in the First Lien Indenture or the Second Lien Credit Agreement, as applicable or, as to each party, at such
other address as may be designated by such party in a written notice to all of the other parties. 
  

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 9.9 Further Assurances. The First Lien Trustee, for itself and on behalf of the First Lien
Claimholders under the First Lien Credit Documents, and the Second Lien Lender, for itself and on behalf of the Second Lien Claimholders under the Second Lien Credit Documents, the Collateral Agent and the Borrower and Subsidiary Guarantors, agree
that each of them shall take such further action and shall execute and deliver such additional documents and instruments (in recordable form, if requested) as the Collateral Agent, the First Lien Trustee or the Second Lien Lender may reasonably
request to effectuate the terms of and the lien priorities contemplated by this Agreement. 
 9.10 Governing Law; Jurisdiction; Consent to
Service of Process. 
 (a) This Agreement shall be construed in accordance with and governed by the law of the State of New York, without
regard to the choice of law provisions thereof. 
 (b) Each party hereby irrevocably and unconditionally submits, for itself and its
property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action
or proceeding arising out of or relating to this Agreement, 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, any other First Lien Credit Document or any other Second Lien Credit Document shall affect any right that any First Lien Claimholder or Second
Lien Claimholder may otherwise have to bring any action or proceeding relating to this Agreement, any other First Lien Credit Document or any other Second Lien Credit Document against the Borrower, the Subsidiary Guarantors or any of their
respective properties in the courts of any jurisdiction. 
 (c) Each party hereto 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, any other First Lien Credit Document or any
Second Lien Credit Document in any court referred to in paragraph (b) of this Section. 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. 
 (d) Each party to this Agreement irrevocably consents to service of process in the manner provided
for notices in Section 9.8. Nothing in this Agreement, any other First Lien Credit Document or any Second Lien Credit Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law.

 9.11 Binding on Successors and Assigns. This Agreement shall be binding upon the First Lien Trustee, the First Lien Claimholders,
the Second Lien Lender, the Second Lien Claimholders and their respective successors and assigns. 
  

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 9.12 Specific Performance. Each of the First Lien Trustee and the Second Lien Lender may demand
specific performance of this Agreement. The First Lien Trustee, for itself and on behalf of the First Lien Claimholders under its First Lien Credit Documents, and the Second Lien Lender, for itself and on behalf of the Second Lien Claimholders,
hereby irrevocably waives any defense based on the adequacy of a remedy at law and any other defense which might be asserted to bar the remedy of specific performance in any action which may be brought by any First Lien Trustee or the Second Lien
Lender, as the case may be. 
 9.13 Headings. Section headings in this Agreement are included herein for convenience of reference only
and shall not constitute a part of this Agreement for any other purpose or be given any substantive effect. 
 9.14 Counterparts. This
Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed
counterpart of a signature page of this Agreement or any document or instrument delivered in connection herewith by telecopy shall be effective as delivery of a manually executed counterpart of this Agreement or such other document or instrument, as
applicable. 
 9.15 Authorization. By its signature, each Person executing this Agreement on behalf of a party hereto represents and
warrants to the other parties hereto that it is duly authorized to execute this Agreement. 
 9.16 No Third Party Beneficiaries. This
Agreement and the rights and benefits hereof shall inure to the benefit of each of the parties hereto and its respective successors and assigns and shall inure to the benefit of each of the First Lien Claimholders and the Second Lien Claimholders.
No other Person shall have or be entitled to assert rights or benefits hereunder. 
 9.17 Provisions Solely to Define Relative Rights.
The provisions of this Agreement are and are intended solely for the purpose of defining the relative rights of the First Lien Claimholders on the one hand and the Second Lien Claimholders on the other hand. Except to the extent expressly provided
in this Agreement, none of the Borrower, any other Grantor or any other creditor thereof shall have any rights hereunder and neither the Borrower nor any Grantor may rely on the terms hereof. Nothing in this Agreement is intended to or shall impair
the obligations of the Borrower or any other Grantor, which are absolute and unconditional, to pay the First Lien Secured Obligations and the Second Lien Secured Obligations as and when the same shall become due and payable in accordance with their
terms. 
 9.18 Expenses. (a) The Borrower and the Subsidiary Guarantors will pay or reimburse the Collateral Agent, the First
Lien Trustee, the Second Lien Lender, the First Lien Claimholders and the Second Lien Claimholders, upon demand, for all costs and expenses in connection with the enforcement or preservation of any rights under this Agreement, including, without
limitation, reasonable fees and disbursements of counsel to the Collateral Agent, the Second Lien Lender and the First Lien Trustee. 
  

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 (b) The Borrower and the Subsidiary Guarantors will pay, indemnify, and hold harmless the Collateral
Agent, the First Lien Trustee, the Second Lien Lender, the First Lien Claimholders and the Second Lien Claimholders from and against any and all other liabilities, obligations, losses, damages, penalties, actions (whether sounding in contract, tort
or on any other ground), judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever with respect to the execution, delivery, enforcement, performance and administration of, or in any other way arising out of or relating to
this Agreement or any action taken or omitted to be taken by the Collateral Agent, the First Lien Trustee, the Second Lien Lender, the First Lien Claimholders and the Second Lien Claimholders with respect to any of the foregoing; provided
that such indemnity shall not, as to any indemnified person, be available to the extent that such losses, claims, damages, liabilities or related expenses (x) 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 indemnified person. 
 9.19 Integration. This
Agreement, the First Lien Credit Documents and the Second Lien Credit Documents represent the entire agreement of the parties hereto with respect to the subject matter thereof and there are no promises or representations by the Collateral Agent, the
First Lien Trustee, the Second Lien Lender, the First Lien Claimholders and the Second Lien Claimholders relative to the subject matter hereof not reflected herein or therein. 
  

 32 

 IN WITNESS WHEREOF, the parties hereto have executed this Collateral Agency and Intercreditor Agreement
as of the date first written above. 
  

					
	FIRST LIEN TRUSTEE:
	
	U.S. BANK NATIONAL ASSOCIATION,
as First Lien Trustee
		
	By:	 	/s/ Karen R. Beard
		 	Name: 	 	Karen R. Beard
		 	Title:	 	Vice President

 Collateral Agency and Intercreditor Agreement 

					
	SECOND LIEN LENDER AND COLLATERAL AGENT:
	
	HILLSIDE CAPITAL INCORPORATED,
as Second Lien Lender and as Collateral Agent
		
	By:	 	/s/ Raymond F. Weldon
		 	Name: 	 	Raymond F. Weldon
		 	Title:	 	Managing Director

 Collateral Agency and Intercreditor Agreement 

					
	BORROWER:
	
	AMPEX CORPORATION
		
	By:	 	/s/ D. Gordon Strickland
		 	Name:	 	D. Gordon Strickland
		 	Title:	 	President & Chief Executive Officer
	
	SUBSIDIARY GUARANTORS:
	
	AMPEX DATA INTERNATIONAL CORPORATION
		
	By:	 	/s/ Lawrence Chiarella
		 	Name:	 	Lawrence Chiarella
		 	Title:	 	President
	
	AMPEX DATA SYSTEMS CORPORATION
		
	By:	 	/s/ Lawrence Chiarella
		 	Name:	 	Lawrence Chiarella
		 	Title:	 	President
	
	AMPEX FINANCE CORP.
		
	By:	 	/s/ D. Gordon Strickland
		 	Name:	 	D. Gordon Strickland
		 	Title:	 	President
	
	AMPEX INTERNATIONAL SALES CORPORATION
		
	By: 	 	/s/ Lawrence Chiarella
		 	Name:	 	Lawrence Chiarella
		 	Title:	 	President

 Collateral Agency and Intercreditor AgreementContingent Payment Rights Agreement

 EXHIBIT 10.5 
  
  
  
 AMPEX CORPORATION 
 and 
 AMPEX INTERNATIONAL SALES CORPORATION 
 as the CPR Administrator 
 CONTINGENT PAYMENT RIGHTS AGREEMENT 
 Dated as of October 3, 2008 
  
  
  

 TABLE OF CONTENTS 
  

					
	 	 	 	  	Page
	 Section 1.
	 	 Certain Definitions
	  	1
			
	 Section 2.
	 	 Appointment of CPR Administrator
	  	5
			
	 Section 3.
	 	 Issuance of Distribution Rights
	  	5
			
	 Section 4.
	 	 CPR Distributions
	  	6
			
	 Section 5.
	 	Disputed Existing Common Stock Interest, Disallowed Existing Common Stock Interest and Forfeited Distribution Rights	  	8
			
	 Section 6.
	 	 Limitation on Transferability of Distribution Rights
	  	9
			
	 Section 7.
	 	 Destruction of Cancelled Common Stock Certificates
	  	10
			
	 Section 8.
	 	 Agreement of Right Holders
	  	10
			
	 Section 9.
	 	 Concerning the CPR Administrator
	  	11
			
	 Section 10.
	 	 Merger or Consolidation or Change of Name of CPR Administrator
	  	11
			
	 Section 11.
	 	 Duties of CPR Administrator
	  	12
			
	 Section 12.
	 	 Change of CPR Administrator
	  	13
			
	 Section 13.
	 	 Notices
	  	14
			
	 Section 14.
	 	 Termination
	  	15
			
	 Section 15.
	 	 Supplements and Amendments
	  	15
			
	 Section 16.
	 	 Successors
	  	16
			
	 Section 17.
	 	 Benefits of this Agreement
	  	16
			
	 Section 18.
	 	 Inconsistency with Plan
	  	16
			
	 Section 19.
	 	 Tax Reporting; Withholding
	  	16
			
	 Section 20.
	 	 Severability
	  	17
			
	 Section 21.
	 	 Governing Law
	  	17
			
	 Section 22.
	 	 Counterparts
	  	17
			
	 Section 23.
	 	 Descriptive Headings
	  	17

  

 (i) 

 CONTINGENT PAYMENT RIGHTS AGREEMENT 
 This Contingent Payment Rights Agreement, dated as of October 3, 2008 (this “Agreement”), made by and between Ampex Corporation, a
Delaware corporation (the “Company”) and Ampex International Sales Corporation, a California corporation (“Ampex International”), as the contingent payment rights administrator (together with any successor thereto,
the “CPR Administrator”). Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to them in the First Modified Third Amended Joint Chapter 11 Plan of Reorganization for Ampex Corporation and its
Affiliated Debtors (as defined therein), dated as of July 31, 2008 (as the same may be amended, modified or supplemented from time to time, the “Plan”). 
 R E C I T A L S: 
 WHEREAS, the
Company and its U.S. subsidiaries have filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”);

 WHEREAS, on July 31, 2008, the Bankruptcy Court entered an order (the “Confirmation Order”) confirming the Plan;

 WHEREAS, pursuant to the Plan and the Confirmation Order, as of the Effective Date, the Existing Common Stock was cancelled and no
distribution was made under the Plan to holders of Existing Common Stock on account of such interests; 
 WHEREAS, as part of a settlement
and compromise set forth in the Plan, the Company agreed to issue each holder of Existing Common Stock that did not object to the confirmation of the Plan, a right that entitles such holder to receive a Pro Rata Percentage of certain future income
of Reorganized Ampex from a limited pool of assets as set forth herein; 
 WHEREAS, the administration and processing of such CPR
Distributions and other matters in connection with these Distribution Rights will involve substantial administration; 
 WHEREAS, the Company
desires to appoint Ampex International as the CPR Administrator to act on behalf of the Company in connection with the Distribution Rights, and the CPR Administrator is willing to so act and serve in such capacity, in each case upon the terms set
forth herein and pursuant to the Plan and Confirmation Order; 
 WHEREAS, Hillside Capital Incorporated (“Hillside”) has
consented to the appointment of Ampex International as the CPR Administrator as evidenced and acknowledged by Hillside executing this Agreement; and 
 NOW, THEREFORE, in consideration of the premises, covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows: 
 Section 1. Certain Definitions. For purposes of this Agreement, the following terms shall
have the following meanings: 
 “Agreement” shall have the meaning set forth in the first paragraph of this
Agreement. 

 “Allowed Existing Common Stock Interest” shall mean any share of
Existing Common Stock other than a share (i) that is a Disputed Existing Common Stock Interest as of the Effective Date or (ii) the holder of which has objected to the confirmation of the Plan. 
 “Bankruptcy Court” shall have the meaning set forth in the Recitals of this Agreement. 
 “Business Day” shall mean any day (other than a day which is a Saturday, Sunday or legal holiday in the State of New
York) on which banks are open for business in the State of New York. 
 “Cancelled Common Stock” shall mean
each share of common stock constituting the Existing Common Stock cancelled pursuant to the Plan. 
 “Close of
Business” on any given date shall mean 5:00 P.M., New York, New York time, on such date; provided, however, that if such date is not a Business Day it shall mean 5:00 P.M. New York, New York time, on the next succeeding
Business Day. 
 “Code” shall have the meaning set forth in Section 19(a) hereof. 
 “Company” shall have the meaning set forth in the Preamble of this Agreement. 
 “Company Expenses” shall mean for each Distribution Period, the amount Reorganized Ampex incurred as expenses under this
Agreement or paid to the CPR Administrator as compensation or expense reimbursement pursuant to this Agreement during such Distribution Period. 
 “Confirmation Date” shall mean the date on which the Confirmation Order is entered by the Bankruptcy Court. 
 “Confirmation Order” shall have the meaning set forth in the Recitals of this Agreement. 
 “CPR Administrator” shall (i) have the meaning set forth in the Preamble of this Agreement or (ii) mean any
successor or replacement thereto as provided in Sections 10 and 12 hereof. 
 “CPR Administrator Rights
Notice” shall have the meaning set forth in Section 3(b) of this Agreement. 
 “CPR
Distributions” shall mean any cash distributions from Reorganized Ampex to which the Right Holders are entitled pursuant to the terms of the Plan and this Agreement. 
 “CPR Reserve Account” shall have the meaning set forth in Section 4(c) of this Agreement. 
  

 - 2 - 

 “Cumulative Net New Patent Revenue” shall mean Net New Patent Revenue
for a Distribution Period plus any Net New Patent Revenue from any prior Distribution Period with respect to which no CPR Distributions were made. 
 “Disputed Existing Common Stock Interest” shall mean any share of Existing Common Stock (i) as to which an objection or action to dispute, deny or otherwise limit recovery with respect thereto
has been filed or commenced within the applicable period of limitation fixed by applicable law, (ii) that is not allowed in any contract, instrument, indenture, or other agreement entered into pursuant to the Plan, (iii) the holder of
which cannot be located by the Debtors, Reorganized Debtors or CPR Administrator at any of the addresses set forth in Section 8.9 of the Plan, (iv) the holder of which notifies the CPR Administrator in writing within 10 days of receipt of
the CPR Administrator Rights Notice that there is an error in the calculation of its Pro Rata Percentage of the CPR Distribution, (v) the holder of which has not surrendered Cancelled Common Stock certificates or other instruments evidencing
such Existing Common Stock or affidavit of loss and indemnity satisfactory to the CPR Administrator or (vi) issuable upon the conversion or exercise of options, warrants or other securities to purchase shares of Existing Common Stock that are
vested as of the Effective Date and the holder of which has not exercised such warrants, options or other securities to purchase shares of Existing Common Stock as of the Effective Date. 
 “Distribution Date” shall mean March 31st of each calendar year immediately following a Distribution Period. 
 “Distribution Period” shall mean each calendar year and, in the
case of the year that includes the Effective Date, the period commencing on the Effective Date and ending on the Close of Business of December 31st of such calendar year. 
 “Distribution Record Date” shall mean the Confirmation Date. 

“Distribution Rights” shall have the meaning set forth in Section 3(a) of this Agreement. 
 “Effective Date” shall mean the first Business Day on which all conditions set forth in Section 11.2 of the Plan
have been satisfied or waived. 
 “Existing Common Stock” shall mean shares of common stock, par value $0.01
per share, of the Company issued prior to the Effective Date. 
 “Existing Patents” shall mean any patents of
the Company or its subsidiaries that have been issued based on patent applications filed by the Company, any of its affiliates, representatives or agents acting in such capacity, having an effective filing date prior to the Effective Date; a list of
the Company’s Existing Patents is attached hereto as Schedule I. 
 “Family Members” means, with respect
to any individual, such Person’s spouse, children, siblings, parents and all lineal descendants of such Person’s parents (in each case, natural or adopted). 
 “Forfeited Right Holder” shall have the meaning set forth in Section 4(e) of this Agreement. 
  

 - 3 - 

 “Form W-8” shall have the meaning set forth in Section 19(a) of
this Agreement. 
 “Hillside” shall have the meaning set forth in the Recitals of this Agreement. 

“Initial Company Notice” shall have the meaning set forth in Section 3(b) of this Agreement. 
 “Net New Patent Revenue” shall mean (i) the consolidated revenue that Reorganized Ampex and its subsidiaries receive
from royalty payments on licenses of Existing Patents including any interest accrued on such royalty payments (less any expenses arising out of or associated with such licenses, including applicable taxes assessed on income from such licenses and
fees for maintenance of the Existing Patents) after the effective date of each such license, (ii) the consolidated revenue that Reorganized Ampex and its subsidiaries receive from the sale or transfer of Existing Patents (less any expenses
arising out of or associated with such sale or transfer of Existing Patents, including all applicable taxes), (iii) the consolidated revenue that Reorganized Ampex and its subsidiaries receive from any securitization of royalties or other
payments from licenses of Existing Patents, (iv) the consolidated revenue that Reorganized Ampex and its subsidiaries receive from any monetary damages received as a result of infringement litigation asserting an Existing Patent, and
(v) in the event that Reorganized Ampex or any of its affiliates (other than Ampex Data Systems Corporation or its successors) uses the Existing Patents, such revenue Reorganized Ampex would have received had it licensed such Existing Patents
to an unaffiliated third party in an arm’s-length transaction; provided, however, that Net New Patent Revenue shall not include revenue from licenses that bear revenue as of the Effective Date. 
 “Person” shall mean any individual, firm, corporation, partnership, limited partnership, limited liability partnership,
business trust, limited liability company, unincorporated association or other entity, and shall include any successor (by merger or otherwise) of such entity. 
 “Permitted Transferee” shall have the meaning set forth in Section 6(a) of this Agreement. 
 “Plan” shall have the meaning set forth in the first paragraph of this Agreement. 
 “Pro Rata Percentage” shall mean, a ratio (expressed as a percentage) the numerator of which shall be the number of
shares of Existing Common Stock held by a Right Holder as of the Close of Business on the date immediately prior to the Effective Date and the denominator of which shall be the total number of Existing Common Stock outstanding as of the date
immediately prior to the Effective Date. 
 “Recovery Threshold Amount” shall be $83,846,915.00. 

“Reorganized Ampex” shall mean the Company and any successor thereto, as reorganized. 
 “Right Holders” shall have the meaning set forth in Section 3(a) of this Agreement. 
 “Rights Registry” shall have the meaning set forth in Section 3(c) hereof. 
  

 - 4 - 

 “Treasury Regulations” shall have the meaning set forth in
Section 19(a) hereof. 
 “Unclaimed Distribution Recipient” shall have the meaning set forth in
Section 4(e) hereof. 
 “Unclaimed Rights Forfeit Date” shall have the meaning set forth in
Section 4(e) hereof. 
 Section 2. Appointment of CPR Administrator. The Company, with the consent of
Hillside, hereby appoints the CPR Administrator to act as agent for the Company in accordance with the terms and conditions hereof, and the CPR Administrator hereby accepts such appointment. 
 Section 3. Issuance of Distribution Rights. 
 (a) As of the Effective Date, each holder of an Allowed Existing Common Stock Interest as of the Close of Business on the Distribution
Record Date is, in accordance with the Plan, entitled to receive a right to receive its Pro Rata Percentage of CPR Distributions subject to the terms set forth herein (the “Distribution Rights” and such recipient of Distribution
Rights, a “Right Holder”). 
 (b) Within 10 Business Days following its receipt of (V) a written notice
of the occurrence of the Effective Date, (W) a list of the Right Holders and the number of shares of Existing Common Stock held by each such Right Holder as of the date immediately prior to the Effective Date, (X) a list of the holders of
Disputed Existing Common Stock Interests and the maximum number of shares of Existing Common Stock asserted to be held by each such Person as of the date immediately prior to the Effective Date, (Y) the Pro Rata Percentage of any CPR
Distributions to which each Right Holder is entitled to receive from Reorganized Ampex and (Z) the Pro Rata Percentage of any CPR Distributions to which each holder of Disputed Existing Common Stock Interests would be entitled to receive if
such Disputed Existing Common Stock Interests held by such Person was otherwise an Allowed Existing Common Stock Interest (which Reorganized Ampex hereby agrees to provide within 30 days of the Effective Date, the “Initial Company
Notice”), the CPR Administrator, at the expense of Reorganized Ampex, shall provide to each holder of Existing Common Stock that did not object to the confirmation of the Plan (i) a written notice (the “CPR Administrator Rights
Notice”) of the Distribution Rights granted to each Right Holder or its Permitted Transferee pursuant to this Agreement and (ii) written instructions regarding the proper delivery of certificates representing shares of Cancelled Common
Stock, other instruments evidencing Cancelled Common Stock or an affidavit of loss and indemnity, which shall be in its sole discretion, satisfactory to the CPR Administrator with respect to such lost, stolen, mutilated or destroyed certificates.

 (c) Upon receipt of the Initial Company Notice, the CPR Administrator shall keep or cause to be kept, at its office
designated for such purposes, books for registration of (i) the name and address of each Right Holder and the number of shares of Existing Common Stock held by each such Right Holder as of the date immediately prior to the Effective Date
(ii) the name and address of each holder of 

  

 - 5 - 

 
Disputed Existing Common Stock Interests and the number of shares of Existing Common Stock held by such Person as of the date immediately prior to the
Effective Date, (iii) the Pro Rata Percentage of any CPR Distributions each Right Holder or its Permitted Transferee is entitled to receive and (iv) the Pro Rata Percentage of any CPR Distributions to which each holder of a Disputed
Existing Common Stock Interest would be entitled to receive if such Disputed Existing Common Stock Interest held by such Person was otherwise an Allowed Existing Common Stock Interest (the “Rights Registry”). The CPR Administrator
shall update the Rights Registry with respect to each Right Holder, including with respect to Disputed Existing Common Stock Interests that become an Allowed Existing Common Stock Interests and any change of name, address or other contact
information of any Right Holder upon receipt of a written notice of any such change including from any such Person pursuant to Section 5, Section 6 and Section 13 of this Agreement. 
 (d) To receive Distribution Rights, each Right Holder shall surrender to the CPR Administrator (i) certificates representing its
shares of Cancelled Common Stock (or an affidavit of loss and indemnity satisfactory to the CPR Administrator with respect to any lost, stolen, mutilated or destroyed certificates) or (ii) to the extent such Cancelled Common Stock is not
certificated, other instruments evidencing such Cancelled Common Stock satisfactory to the CPR Administrator within 60 days of receipt of the CPR Administrator Rights Notice. In the event that any Right Holder fails to surrender to the CPR
Administrator certificates or other instruments evidencing Cancelled Common Stock pursuant to this Section 3(d), the Cancelled Common Stock evidenced by such certificates or other instruments held by such Right Holder shall be deemed a
Disputed Existing Common Stock Interest and shall be subject to the terms set forth in Section 5 hereof. 
 Section 4. CPR Distributions. 
 (a) No later than 15 days prior to each Distribution Date, Reorganized
Ampex shall calculate the amount of CPR Distributions, if any, owed to each Right Holder or its Permitted Transferee for the applicable Distribution Period and shall promptly deliver (i) a written notice to the CPR Administrator of such amounts
on an aggregate basis, if any, and (ii) a statement of Reorganized Ampex, approved by its Board of Directors and certified by its Chief Financial Officer as to such statement’s compliance with the terms of this Agreement, setting forth a
description and calculation of such CPR Distributions, including the Net New Patent Revenue for such Distribution Period, Net New Patent Revenue for any prior Distribution Period for which no CPR Distributions were made, the Cumulative Net New
Patent Revenue, the Recovery Threshold Amount and the amount of any CPR Distributions (or if no CPR Distributions, a statement to that effect) to be paid to Right Holders on the Distribution Date (the “Reorganized Ampex Statement”).

 (b) On the Distribution Date, Reorganized Ampex (or the Disbursing Agent or other distribution agent on behalf of
Reorganized Ampex) shall deliver to the CPR Administrator the total aggregate amount required to allow the CPR Administrator to distribute the CPR Distributions for the applicable Distribution Period to each Right Holder. 
  

 - 6 - 

 (c) Subject to Section 19(b) hereof, no later than 15 days after each
Distribution Date, the CPR Administrator shall distribute to each Right Holder (i) its Pro Rata Percentage of the CPR Distribution, if any, in accordance with the percentages set forth in the Rights Registry and (ii) the Reorganized Ampex
Statement. Subject to Section 5 hereof, the CPR Administrator shall hold in a separate account (the “CPR Reserve Account”) that portion of the remaining balance of CPR Distributions with respect to Disputed Existing
Common Stock Interests that have not become Allowed Existing Common Stock Interests as of the applicable Distribution Date. If there are no CPR Distributions for the Distribution Period, the CPR Administrator shall, in any event, distribute the
Reorganized Ampex Statement to the Right Holders. The CPR Administrator shall keep and maintain complete and accurate ledgers showing all payments made by the CPR Administrator pursuant to the terms of the Plan, this Agreement and the Reorganized
Ampex Statement and shall furnish copies of such ledgers ,which shall be kept as part of the Rights Registry, to Reorganized Ampex from time to time upon request. 
 (d) On each Distribution Date, the maximum CPR Distribution to be made by Reorganized Ampex shall be an amount equal to the product of
(x) 0.5 times (y) the Cumulative Net New Patent Revenue in excess of the Recovery Threshold Amount less (z) the Company Expenses. In the event that CPR Distributions for a Distribution Period are less than Company Expenses for such
Distribution Period, the excess Company Expenses shall be carried over to the Distribution Period immediately following such Distribution Period and be treated as Company Expenses for that next Distribution Period. 
 (e) In the event that the CPR Administrator cannot locate any Right Holder or its Permitted Transferee at the last known address set forth
in the Rights Registry (such Right Holder, a “Forfeited Right Holder”) within one (1) year of any Distribution Date on which CPR Distributions are actually made (the “Unclaimed Rights Forfeit Date”), such
Forfeited Right Holder’s CPR Distributions shall be forfeited and the CPR Administrator shall distribute such forfeited CPR Distributions to the Right Holders or Permitted Transferees, and to the CPR Reserve Account on account for holders of
Disputed Existing Common Stock Interests, in each case who have not forfeited their respective CPR Distributions pursuant to this Section 4(e) (the “Unclaimed Distribution Recipients”) pro rata based on a ratio
(expressed as a percentage) the numerator of which shall be the number of shares of Existing Common Stock held by an Unclaimed Distribution Recipient on the date immediately prior to the Effective Date and the denominator of which shall be the total
number of shares of Existing Common Stock held by Unclaimed Distribution Recipients as of the date immediately prior to the Effective Date. Any unclaimed CPR Distributions to be distributed pursuant to this Section 4(e) to Unclaimed
Distribution Recipients that are Right Holders as of the Unclaimed Rights Forfeit Date, shall be distributed and paid out to such Right Holders as soon as practicable after the Unclaimed Rights Forfeit Date. Any unclaimed CPR Distributions reserved
pursuant to this Section 4(e) on account of Unclaimed Distribution Recipients 

  

 - 7 - 

 
that are holders of Disputed Existing Common Stock Interests as of the Unclaimed Rights Forfeit Date shall be deposited in the CPR Reserve Account and shall
be released and paid out to such Unclaimed Distribution Recipients pursuant to Section 5(a). Notwithstanding any provision herein, no CPR Distributions, if any, shall be made to an Unclaimed Distribution Recipient until such time as the
CPR Administrator shall determine that such distribution is practicable. 
 Section 5. Disputed Existing Common Stock
Interest, Disallowed Existing Common Stock Interest and Forfeited Distribution Rights. 
 (a) With respect to a Disputed
Existing Common Stock Interest, the CPR Administrator shall (i) reserve the Pro Rata Percentage of the Distribution Rights to which the holder of such Disputed Existing Common Stock Interest would have been entitled if such Disputed Existing
Common Stock Interest was an Allowed Existing Common Stock Interest on the Effective Date, (ii) not register in the Rights Registry such Distribution Rights that would otherwise be allocable under the Plan to such holders of Disputed Existing
Common Stock Interests if such interests were Allowed Existing Common Stock Interests on the Effective Date and (iii) hold all CPR Distributions which would otherwise be distributable to the holders of such Disputed Existing Common Stock
Interests if such interests were Allowed Existing Common Stock Interests on the Effective Date in the CPR Reserve Account. In the event that any Disputed Existing Common Stock Interest becomes an Allowed Existing Common Stock Interest, the CPR
Distributions on account of such Allowed Existing Common Stock Interest shall be released from the CPR Reserve Account and the CPR Administrator shall (A) record as owned in the Rights Registry the Distribution Rights to which the holder of
such newly Allowed Existing Common Stock Interest would have been entitled if such newly Allowed Existing Common Stock Interest was an Allowed Existing Common Stock Interest on the Effective Date, and (B) subject to Section 19(b)
hereof, distribute to the holder of such newly Allowed Existing Common Stock Interest, as soon as practicable thereafter, any CPR Distributions reserved in the CPR Reserve Account which would have been distributed to such Person in respect of such
Person’s Distribution Rights if such Existing Common Stock was fully or partially allowed, as the case may be, on the Effective Date, provided that the CPR Administrator may direct the withholding of any CPR Distributions until any cost or
expense associated with maintaining such CPR Distributions accruing after the Effective Date is paid. Notwithstanding any provision herein, no CPR Distributions, if any, shall be made to a holder of resolved Disputed Existing Common Stock Interests
until such time as the CPR Administrator shall determine that such distribution is practicable. 
 (b) Any CPR Distributions
reserved on account of any Disputed Existing Common Stock Interest that becomes the subject of a final and binding court order or a written and binding settlement agreement, in each case whereby such Disputed Existing Common Stock Interest, or any
portion thereof, is disallowed or otherwise determined or agreed that it shall never become an Allowed Existing Common Stock Interest, shall be cancelled and forfeited by such holder of Disputed Existing Common Stock Interest and the CPR
Administrator shall return such CPR Distributions to Reorganized Ampex. No Right Holder shall have any claim to any CPR Distributions returned to Reorganized Ampex pursuant to this Section 5(b). 
  

 - 8 - 

 Section 6. Limitation on Transferability of Distribution Rights. 

(a) No holder of Distribution Rights may sell, assign or transfer all or any portion of such Distribution Rights except to such
Person’s Permitted Transferees. A “Permitted Transferee” shall mean (i) with respect to a holder of Distribution Rights that is an individual, any transfer of the Distribution Rights made (X) to such holder’s
Family Members, (Y) to a revocable trust created for the benefit of the holder of such Distribution Rights, or any of his or her Family Members; (Z) to the estate, executor, administrator, personal representative, devisee, or legatee of
such holder of Distribution Rights, (ii) with respect to a holder of the Distribution Rights that is an entity, (X) a transferee or successor by operation of law of such Right Holder upon the merger, consolidation or other similar
transaction involving the Right Holder or (Y) any transfer of Distribution Rights made to the holder of equity interests in such entity in a pro rata distribution, or (iii) a transfer to an entity that all of the equity interests of which
are owned by the holder of the Distribution Rights or Permitted Transferee of such holder of Distribution Rights provided that such entity shall agree in writing that it shall be subject to the terms and conditions of this Agreement and it shall
reconvey such interest to the holder of Distribution Rights prior to such time that it ceases to be a Permitted Transferee. 
 (b) Subject to Section 6(d), transfer of Distribution Rights to Permitted Transferees are effective upon (i) receipt by the CPR Administrator from the transferring Right Holder of (X) written notice of the proposed
transfer which written notice shall include the name and address of the proposed Permitted Transferee and amount of transfer, (Y) an instrument evidencing such transfer is being made to a Permitted Transferee such as a letter of testamentary,
trust organizational documents or a registered will (to the extent that such an instrument can reasonably be obtained) and (Z) a certificate of the Right Holder certifying that such transfer is being made to a Person that qualifies as a
Permitted Transferee under this Agreement; (ii) such evidence of transfer being reasonably satisfactory to the CPR Administrator; and (iii) the CPR Administrator recording such transfer in the Rights Registry. 
 (c) The CPR Administrator shall, within 10 days of recording a transfer in the Rights Registry, notify in writing both the transferor and
the Permitted Transferee, at the last known address set forth in the Rights Registry and in the notice referenced in Section 6(b)(i)(X) hereof respectively, of the completion of the transfer. 
 (d) The transferor shall reimburse the CPR Administrator for any reasonable expenses incurred in connection with the proposed transfer to
a Permitted Transferee within 10 days of receipt of an invoice by the transferor from the CPR Administrator such invoice shall be sent via over night mail to the transferor (unless otherwise agreed to in writing by the parties) and shall be deemed
received on the Business Day following the date such invoice is sent via overnight mail. 
  

 - 9 - 

 Section 7. Destruction of Cancelled Common Stock Certificates. All Cancelled
Common Stock certificates, instruments and affidavits of loss and indemnity surrendered pursuant to Section 3 of this Agreement, shall, if surrendered to Reorganized Ampex or to any of its agents, be delivered to the CPR Administrator
for cancellation or in cancelled form, or, if surrendered to the CPR Administrator, shall be cancelled by it, and no Distribution Rights shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Agreement and the
Plan. The CPR Administrator shall deliver to Reorganized Ampex all Cancelled Common Stock certificates, instruments or affidavit of loss and indemnity received by it at the written request of Reorganized Ampex, or destroy such cancelled
certificates, and in such case shall deliver a certificate or other evidence of destruction thereof to Reorganized Ampex. 
 Section 8. Agreement of Right Holders. Every holder of Distribution Rights, by accepting the same, consents and agrees with Reorganized Ampex and the CPR Administrator and with every other holder of Distribution Rights that:

 (a) the Distribution Rights are subject to the terms, provisions and conditions of the Plan and this Agreement; 

(b) the Distribution Rights will not be represented by any certificates and may not be transferred or assigned except as expressly
provided in Section 6 of this Agreement; 
 (c) the Distribution Rights do not represent equity ownership in
Reorganized Ampex; 
 (d) the Distribution Rights do not bear any stated rate of interest; 
 (e) no Right Holder shall be entitled to vote, receive dividends or be deemed for any purpose the holder of any securities of Reorganized
Ampex nor anything contained herein be construed to confer upon any Right Holder any of the rights of a stockholder of Reorganized Ampex or any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting
thereof, or to give or withhold consent to any corporate action, or to receive notice of meetings or other actions affecting stockholders, or to receive subscription rights, or otherwise; and 
 (f) notwithstanding anything in this Agreement to the contrary, none of the Company, Reorganized Ampex nor the CPR Administrator shall
have any liability to any holder of a Distribution Right or other Person as a result of its inability to perform any of its obligations under this Agreement by reason of any preliminary or permanent injunction or other injunction, order, judgment,
decree or ruling issued by a court of competent jurisdiction or by a governmental, regulatory or administrative agency or commission, or any statute, rule, regulation or executive order promulgated or enacted by any governmental authority
prohibiting or otherwise restraining performance of such obligation; provided, however, Reorganized Ampex agrees to use commercially reasonable efforts to have any such injunction, order, judgment, decree or ruling lifted or otherwise
overturned as soon as possible. 
  

 - 10 - 

 Section 9. Concerning the CPR Administrator. 
 (a) The Company agrees to pay to the CPR Administrator compensation in accordance with Schedule II hereto, for all services rendered by it
hereunder and, from time to time, on demand of the CPR Administrator, its reasonable and documented out-of-pocket expenses, including reasonable fees or expenses of counsel and other disbursements incurred in the preparation, administration,
delivery, execution and amendment of this Agreement and the exercise and performance of its duties hereunder. To the extent any expenses of the CPR Administrator are invoiced to and paid for by a Right Holder or Permitted Transferee pursuant to
Section 6(d) hereof, the CPR Administrator shall not invoice or bill Reorganized Ampex for such expenses. Reorganized Ampex also agrees to indemnify the CPR Administrator for, and to hold it harmless against, any loss, liability, damage,
judgment, fine, penalty, claim, demand, settlement, cost or expense (including, without limitation, the reasonable fees and expenses of legal counsel), incurred without gross negligence or willful misconduct on the part of the CPR Administrator
(which gross negligence or willful misconduct must be determined by a final, non-appealable order, judgment, decree or ruling of a court of competent jurisdiction), for any action taken, suffered or omitted by the CPR Administrator in connection
with the acceptance, exercise, performance or administration of its duties under this Agreement. The costs and reasonable expenses incurred by the CPR Administrator in enforcing this right of indemnification shall be paid by Reorganized Ampex. The
provisions of this Section 9 and Section 11 below shall survive the termination of this Agreement, the distribution of all CPR Distributions or, expiration of the Distribution Rights and the resignation or removal of the CPR
Administrator. 
 (b) The CPR Administrator shall be authorized and protected and shall incur no liability for or in respect
of any action taken, suffered or omitted by it in connection with its administration of this Agreement or the exercise or performance of its duties hereunder, in reliance upon any instrument of transfer, power of attorney, affidavit, letter, notice,
instruction direction, consent, certificate, statement, or other paper or document received by it from a Right Holder believed by it in the absence of bad faith or gross negligence to be genuine and to be signed, executed and, where necessary,
verified or acknowledged, by the proper Person or Persons or otherwise upon the advice of counsel as set forth in Section 11(a) hereof. 
 Section 10. Merger or Consolidation or Change of Name of CPR Administrator. Any Person into which the CPR Administrator or any successor CPR Administrator may be merged or with which it may be
consolidated, or any Person resulting from any merger or consolidation to which the CPR Administrator or any successor CPR Administrator shall be a party, or any Person succeeding to the business of the CPR Administrator or any successor CPR
Administrator, shall be the successor to the CPR Administrator under this Agreement without the execution or filing of any paper or any further act on the part of any of the parties hereto, provided that such Person would be eligible for appointment
as a successor CPR Administrator under the provisions of Section 12 hereof. 
  

 - 11 - 

 Section 11. Duties of CPR Administrator. The CPR Administrator shall perform
its duties and obligations under this Agreement upon the following terms and conditions, by all of which Reorganized Ampex and the holders of Distribution Rights, by their acceptance thereof, shall be bound: 
 (a) The CPR Administrator may consult with legal counsel (who may be legal counsel for Reorganized Ampex, or retained by the CPR
Administrator), and the advice or opinion of such counsel shall be full and complete authorization and protection to the CPR Administrator and the CPR Administrator shall incur no liability for or in receipt of any action taken, suffered or omitted
by it in the absence of bad faith or gross negligence in accordance with such advice or opinion. 
 (b) Whenever in the
performance of its duties under this Agreement the CPR Administrator shall deem it necessary or desirable that any fact or matter be proved or established by Reorganized Ampex prior to taking, omitting or suffering any action hereunder, such fact or
matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a certificate signed by any one of the Chairman of the Board, the President, a Vice President, the
Treasurer or the Secretary of Reorganized Ampex and delivered to the CPR Administrator; and such certificate shall be full and complete authorization and protection to the CPR Administrator and the CPR Administrator shall incur no liability for or
in respect of any action taken, omitted or suffered by it in the absence of bad faith or gross negligence under the provisions of this Agreement in reliance upon such certificate. 
 (c) The CPR Administrator shall be liable hereunder to Reorganized Ampex and any other Person only for its own gross negligence or willful
misconduct (which gross negligence or willful misconduct must be determined by a final, non-appealable order, judgment, decree or ruling of a court of competent jurisdiction). 
 (d) The CPR Administrator shall not have any liability for or be under any responsibility in respect of the validity of this Agreement or
the execution and delivery hereof (except the due execution hereof by the CPR Administrator); any breach by the Company of any covenant or condition contained in this Agreement; nor shall it by any act hereunder be deemed to make any representation
or warranty as to the Distribution Rights; nor shall it be responsible for any change in the Distribution Rights (including the Distribution Rights becoming null and void hereunder). 
 (e) The Company agrees that it will perform, execute, acknowledge and deliver or cause to be performed, executed, acknowledged and
delivered all such further and other acts, instruments and assurances as may reasonably be required by the CPR Administrator for the carrying out or performing by the CPR Administrator of the provisions of this Agreement. 
  

 - 12 - 

 (f) The CPR Administrator is hereby authorized and directed to accept instructions with
respect to the performance of its duties hereunder from any one of the Chairman of the Board, the President, a Vice President, the Secretary or the Treasurer of Reorganized Ampex, and to apply to such officers for advice or instructions in
connection with its duties, and such instructions shall be full authorization and protection to the CPR Administrator, and the CPR Administrator shall not be liable for any action taken, omitted or suffered to be taken by it in the absence of bad
faith or gross negligence in accordance with instructions of any such officer. 
 (g) The CPR Administrator may execute and
exercise any of the rights or powers hereby vested in it or perform any duty hereunder either itself (through its directors, officers and employees) or by or through its attorneys or agents. 
 (h) No provision of this Agreement shall require the CPR Administrator to expend or risk its own funds or otherwise incur any financial
liability in the performance of any of its duties hereunder or in the exercise of its rights if it believes that repayment of such funds or adequate indemnification against such risk or liability is not reasonably assured to it. 
 (i) Except with respect to any notice given by a Right Holder pursuant to Section 6 hereof, the CPR Administrator shall
promptly acknowledge in writing any written notice received by it from a Right Holder or Permitted Transferee pursuant to this Agreement, including such notices given by a Right Holder or Permitted Transferee pursuant to Section 13
hereof. 
 (j) A copy of this Agreement shall be available at all reasonable times for inspection by any Right Holder at the
principal office of Reorganized Ampex. Upon written request of a Right Holder, the CPR Administrator shall transmit a copy of this Agreement to a Right Holder via first class mail. 
 (k) The CPR Administrator shall be protected and shall incur no liability for or in respect of any action taken, suffered or omitted by it
in connection with its administration of the Distribution Rights or this Agreement in reliance upon an order, finding, instruction or other directive of the Bankruptcy Court, and shall act in accordance with any such order, finding, instruction or
other directive. 
 Section 12. Change of CPR Administrator. The CPR Administrator or any successor CPR
Administrator may resign and be discharged from its duties under this Agreement upon thirty (30) days’ notice in writing mailed to Reorganized Ampex by registered or certified mail, and to the Right Holders or their respective Permitted
Transferees as set forth in the Rights Registry by first-class mail. Reorganized Ampex may remove the CPR Administrator or any successor CPR Administrator upon ninety (90) days’ notice in writing, mailed to the CPR Administrator or
successor CPR Administrator, as the case may be, by registered or certified mail. If the CPR Administrator shall resign or be removed or shall otherwise become incapable of acting, Reorganized Ampex shall appoint a successor to the CPR
Administrator. If Reorganized Ampex shall fail to make such appointment within a period of thirty (30) days after giving notice of such removal or after it has been notified in writing of such resignation or incapacity by the resigning or
incapacitated CPR Administrator or by any Right Holder, then any Right Holder may apply to any court of competent jurisdiction for the 

  

 - 13 - 

 
appointment of a new CPR Administrator. Any successor CPR Administrator, whether appointed by Reorganized Ampex or by such a court, shall be a corporation
organized and doing business under the laws of the United States or of any state of the United States that is in good standing. After appointment, the successor CPR Administrator shall be vested with the same powers, rights, duties and
responsibilities as if it had been originally named as CPR Administrator without further act or deed; but the predecessor CPR Administrator shall deliver and transfer to the successor CPR Administrator any property at the time held by it hereunder
including the Rights Registry, and execute and deliver any further assurance, conveyance, act or deed necessary for the purpose. Not later than the effective date of any such appointment Reorganized Ampex shall file notice thereof in writing with
the predecessor CPR Administrator and mail a written notice thereof to each Right Holder or its Permitted Transferee at the address of such Person set forth in the Rights Registry. Failure to give any notice provided for in this
Section 12, however, or any defect therein, shall not affect the legality or validity of the resignation or removal of the CPR Administrator or the appointment of the successor CPR Administrator, as the case may be. 
 Section 13. Notices. Notices or demands authorized by this Agreement to be given or made by the CPR Administrator or by any
holder of Disputed Existing Common Stock Interests, Right Holder or Permitted Transferee to or on Reorganized Ampex shall be sufficiently given or made if sent by facsimile or first-class mail, postage prepaid, addressed (until another address is
filed in writing with the CPR Administrator) as follows: 
 Ampex Corporation 
 1228 Douglas Avenue 
 Redwood City, California
94063 
 Attn: Joel D. Talcott, Esq., General Counsel 
 Telephone:     (650) 367-3330 
 Facsimile:
     (650) 367-3440 
 Any notice or demand authorized by this Agreement to be given or made by Reorganized Ampex or by any
holder of Disputed Existing Common Stock Interests, Right Holder or Permitted Transferee to or on the CPR Administrator (including surrender of certificates of Cancelled Common Stock) shall be sufficiently given or made if sent by facsimile or
first-class mail, postage prepaid, addressed (until another address is filed in writing with Reorganized Ampex) as follows: 
 Ampex
International Sales Corporation 
 1228 Douglas Avenue 
 Redwood City, California 94063 
 Attn: Joel D. Talcott, Esq., General Counsel 
 Telephone:     (650) 367-3330 
 Facsimile:      (650) 367-3440 
  

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 with copies to: 
 Law Offices of Vicki S. Gruber, P.C. 
 17 Conklin Street, Suite 1 
 Farmingdale, NY 11735 
 Telephone:
    (516) 845-8088 
 Facsimile:      (516) 845-8757 
 Notices or demands authorized by this Agreement to be given or made by Reorganized Ampex or the CPR Administrator to any holder of Disputed Existing Common Stock
Interests, Right Holder or Permitted Transferee shall be sufficiently given or made if sent by first-class mail, postage prepaid, addressed to such holder at the address of such holder as shown on the Rights Registry. A holder of Disputed Existing
Common Stock Interests, Right Holder or Permitted Transferee may change its respective name, address or other contact information shown on the Rights Registry at any time by furnishing written notice of such change to the CPR Administrator.

 Section 14. Termination. 
 (a) In the event of any (i) merger, consolidation or reorganization of Reorganized Ampex, (ii) sale or transfer of all or
substantially all of the assets of Reorganized Ampex or (iii) sale or transfer of all or substantially all of the stock of Reorganized Ampex, this Agreement shall continue in full force and effect and shall bind any successor, transferee or
assignee thereof. 
 (b) This Agreement shall terminate 90 days after the Distribution Date immediately following the
Distribution Period in which the last remaining Existing Patents in Reorganized Ampex’s, or its successors’ portfolio have been sold, transferred or expired. Upon termination of this Agreement pursuant to this Section 14,
Distribution Rights granted to all Right Holders shall be cancelled and of no further force or effect and all Right Holders shall no longer have the right to receive any CPR Distributions with respect thereto. 
 (c) Any sale or transfer of Existing Patents shall be pursuant to terms of a bona fide arm’s-length transaction, including, without
limitation, any sale or transfer of Existing Patents to affiliates or successors of Reorganized Ampex. For avoidance of doubt, all royalty free licenses by and between the Company and Ampex Data Systems Corporation (or its successors) shall not be
deemed to be a sale or transfer subject to this Section Section 14(c). 
 Section 15. Supplements and
Amendments. Except as provided in the last sentence of this Section 15, for so long as the Distribution Rights are outstanding, Reorganized Ampex may, and the CPR Administrator shall, if Reorganized Ampex so directs in writing,
supplement or amend this Agreement without the approval of any Right Holders, provided that no such supplement or amendment may (a) adversely affect the interests of the Right Holders as such in any material respect, (b) cause this
Agreement to become amendable other than in accordance with this Section 15 or (c) change, limit or increase the CPR Administrator’s rights, duties, liabilities or obligations. 

  

 - 15 - 

 
In the event that any supplement or amendment to this Agreement would adversely affect the interests of the Right Holders in any material respect, such
supplement or amendment shall be adopted with the consent or waiver of not less than fifty-one percent (51%) of the Right Holders based on their Pro Rata Percentage. Upon the delivery of a certificate from an appropriate officer of Reorganized
Ampex which states that the supplement or amendment is in compliance with the terms of this Section 15, the CPR Administrator shall execute such supplement or amendment, provided that any supplement or amendment that does not change or
increase the CPR Administrator’s rights, duties, liabilities or obligations shall become effective immediately upon execution by Reorganized Ampex, whether or not also executed by the CPR Administrator. 
 Section 16. Successors. All the covenants and provisions of this Agreement by or for the benefit of Reorganized Ampex or the
CPR Administrator shall bind and inure to the benefit of their respective successors and assigns hereunder. 
 Section 17. Benefits of this Agreement. Nothing in this Agreement shall be construed to give to any Person other than the Company, the CPR Administrator and the Right Holders any legal or equitable right, remedy or claim under
this Agreement; but this Agreement shall be for the sole and exclusive benefit of the Company, the CPR Administrator, the Right Holders and their Permitted Transferees. 
 Section 18. Inconsistency with Plan. This Agreement is entered into pursuant to the Plan and shall govern the Distribution
Rights and related CPR Distributions issued pursuant to the Plan. Should any provision of this Agreement be inconsistent with a provision of the Plan, the terms and conditions of the Plan shall control; provided, however, that
(i) in the event of an inconsistency between the Plan and this Agreement with respect to the terms of the Distribution Rights and the CPR Distributions, this Agreement shall control, and (ii) nothing in this Section 18 shall
impact provisions of this Agreement that supplement provisions of the Plan but are not inconsistent therewith. 
 Section 19. Tax Reporting; Withholding. 
 (a) On or before January 31st of the year following each
year in which a holder of Distribution Rights receives any CPR Distribution hereunder, the CPR Administrator shall prepare and mail to each such holder, unless such holder has provided the CPR Administrator with a valid, properly completed Internal
Revenue Service Form W-8BEN, W-8ECI, W-8EXP or W-8IMY (each, a “Form W-8”), as applicable, in accordance with United States Treasury Regulations (the “Treasury Regulations”) promulgated under the Internal Revenue
Code of 1986, as amended (the “Code”), an appropriate Form 1099 reporting the distribution(s) as of the year of payment, in accordance with the Code and the Treasury Regulations. The CPR Administrator shall also prepare and file
copies of such Forms 1099 by magnetic tape with the Internal Revenue Service on or before February 28th of the year following the distribution(s), in accordance with the Code and the Treasury Regulations. 
  

 - 16 - 

 (b) Reorganized Ampex and the CPR Administrator, as applicable, shall be entitled to
deduct and withhold from any payment made to such holder pursuant to this Agreement such amounts as Reorganized Ampex or the CPR Administrator, as applicable, is required to deduct and withhold with respect to such payment pursuant to the Code and
the Treasury Regulations or any provision of state, local or non-U.S. law, and shall timely remit any amount withheld to the Internal Revenue Service or other appropriate governmental authority or authorized financial institution in accordance with
applicable law. To the extent that amounts are so withheld and paid over to the appropriate taxing authority by Reorganized Ampex or the CPR Administrator, such withheld amounts shall be treated for all purposes of this Agreement as having been paid
to the holder in respect of which such deduction and withholding was made by Reorganized Ampex or the CPR Administrator, as the case may be. 
 (c) Should any issue arise regarding federal income tax reporting or withholding, the CPR Administrator shall be entitled, in its sole discretion, to refrain from taking any action, and shall be fully protected and
shall not be liable in any way to Reorganized Ampex or any other Person or entity for refraining from taking such action, unless the CPR Administrator receives written instructions signed by Reorganized Ampex which eliminate such issue to the
reasonable satisfaction of the CPR Administrator. Such action may be subject to additional fees. 
 (d) The Company and each
Right Holder hereby agree that the Distribution Rights shall not be treated as an equity interest in the Company for income tax purposes. 
 Section 20. Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the
remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated. 
 Section 21. Governing Law. This Agreement, including the rights, duties and obligations of the CPR Administrator, and the
Distribution Rights issued hereunder shall be deemed to be a contract made under the laws of the State of New York and for all purposes shall be governed by and construed in accordance with the laws of such State applicable to contracts to be made
and performed entirely within such State. 
 Section 22. Counterparts. This Agreement may be executed in any
number of counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 
 Section 23. Descriptive Headings. Descriptive headings of the several Sections of this Agreement are inserted for convenience
only and shall not control or affect the meaning or construction of any of the provisions hereof. 
 [Remainder of Page Intentionally Left
Blank] 
  

 - 17 - 

 IN WITNESS WHEREOF, the parties hereto have caused this Contingent Payment Rights Agreement to be duly
executed and their respective corporate seals to be hereunder affixed and attested, all as of the day and year first above written. 
  

			
	AMPEX CORPORATION
		
	By:	 	/s/ Joel D. Talcott
		 	Name: Joel D. Talcott
		 	Title: Vice President & Secretary
	
	 AMPEX INTERNATIONAL SALES CORPORATION

		
	By:	 	/s/ Joel D. Talcott
		 	Name: Joel D. Talcott
		 	Title: Vice President & Secretary

 Consent, agreement and acknowledgement of Hillside Capital Incorporated solely with respect to
Section 2 of this Contingent Payment Rights Agreement: 
  

			
	HILLSIDE CAPITAL INCORPORATED
		
	By:	 	/s/ Raymond F. Weldon
		 	Name: Raymond F. Weldon
		 	Title: Managing Director

 EXHIBIT A 
 EXAMPLES OF DISTRIBUTION MECHANICS 
 Capitalized terms used and not otherwise defined herein shall have the
meanings ascribed to them in the Contingent Payment Rights Agreement to which this document is an exhibit (the “Agreement”). 
 For purposes
of the following examples, assume the following facts: 
  

	1.	The Effective Date occurs on May 15, 2008. 

  

	2.	Cumulative Net New Patent Revenue for the 2009 Distribution Period (January 1 - December 31, 2009) is $100,000,000. 

  

	3.	Recovery Threshold Amount is $90,000,000. 

  

	4.	Company Expenses for the 2009 Distribution Period are $50,000. 

  

	5.	The Company had 100 shares of Existing Common Stock outstanding on May 14, 2008, the date immediately prior to the Effective Date. 

  

	6.	Stockholder W held 50 shares of Existing Common Stock on May 14, 2008, the date immediately prior to the Effective Date and delivered certificates evidencing his 50 shares of
Existing Common Stock to the CPR Administrator pursuant to the terms of the Agreement. 

  

	7.	Stockholder X who has objected to the confirmation of the Plan held 10 shares of Existing Common Stock on May 14, 2008, the date immediately prior to the Effective Date.

  

	8.	Stockholder Y held 20 shares of Existing Common Stock on May 14, 2008, the date immediately prior to the Effective Date but the CPR Administrator was unable to locate
Stockholder Y at his last known address qualifying Stockholder Y as a holder of Disputed Existing Common Stock Interest. 

  

	9.	Stockholder Z held 20 shares of Existing Common Stock on May 14, 2008, the date immediately prior to the Effective Date; was initially located by the CPR Administrator but over
time has failed to keep the CPR Administrator updated of his change of address resulting in Stockholder Z becoming a Forfeited Right Holder. 

 Examples of Distribution Mechanism: 
 Example 1 - Calculation of CPR Distributions. For the 2009 Distribution Period,
the maximum amount of CPR Distributions to be made to Right Holders is $4,975,000 which is the amount that equals the product of (x) 0.5 times (y) the Cumulative Net New Patent Revenue in excess of the Recovery Threshold Amount less
(z) the Company Expenses: 
 (0.5 x ($100,000,000 - $90,000,000)) - $50,000 = $4,950,000 
  

 A-1 

 Example 2 - Calculation of Pro Rata Percentage of holders of Existing Common Stock as of the date immediately prior
to the Effective Date (e.g. Stockholder W’s Pro Rata Percentage). Stockholder W’s Pro Rata Percentage of any CPR Distributions is 0.50 (50 shares held by Stockholder W divided by the total number of Existing Common Stock that is
outstanding on the date that is immediately prior to the Effective Date (100 shares)). 
 Example 3 - Calculation of CPR Distributions to Right Holders
(e.g. Stockholder W). For the 2009 Distribution Period, Shareholder W’s CPR Distribution is his Pro Rata Percentage of the CPR Distributions for that period: 
 0.50 x $4,950,000 = $2,475,000 
 Example 4 - CPR Distributions Allocable to holders of Disputed Existing Common Stock
Interest (e.g. Stockholder Y). The CPR Administrator shall hold Stockholder Y’s Pro Rata Percentage (0.20) of the CPR Distributions for the 2009 Distribution Period in the CPR Reserve Account. 
 0.20 x $4,950,000 = $990,000 
 The CPR Administrator shall
hold the $990,000 in the CPR Reserve Account until such time as the Disputed Existing Common Stock Interest held by Stockholder Y becomes an Allowed Existing Common Stock Interest (e.g. Stockholder Y establishing contact with the CPR Administrator)
or the $990,000 reserved in the CPR Reserve Account for Stockholder Y becomes the subject of a final and binding court order or a written and binding settlement agreement whereby it is determined or agreed that Stockholder Y’s Disputed Existing
Common Stock Interest shall never become an Allowed Existing Common Stock Interest. If the latter, Stockholder Y will forfeit the $990,000 as his Distribution Rights will be cancelled and the CPR Administrator will return the $990,000 to Reorganized
Ampex. With respect to subsequent CPR Distributions (CPR Distributions that occur after the date all or a portion of the Disputed Existing Common Stock Interest of Stockholder Y is disallowed), the total CPR Distributions made by Reorganized Ampex
will be reduced by that portion of Stockholder Y’s Disputed Existing Common Stock Interests that became permanently disallowed. 
 Example
5 - CPR Distributions Allocable to Forfeited Right Holders (e.g. Stockholder Z). If the CPR Administrator cannot locate Stockholder Z at his last known address within one year of the Distribution Date for the 2009 Distribution Period
(March 31, 2011), Stockholder Z forfeits his $990,000 CPR Distribution for the 2009 Distribution Period. The $990,000 forfeited by Stockholder Z will be distributed to (i) the other Right Holders (in our example, Stockholder W is the only other
Right Holder) and (ii) the CPR Reserve Account on account of Stockholder Y who holds Disputed Existing Common Stock Interest that can become Allowed Existing Common Stock Interest, in each case, on a pro rata basis. However, if Stockholder
Y’s Disputed Existing Common Stock Interest is ultimately disallowed, his reserved CPR Distributions and his pro rata share of Stockholder Z’s forfeited CPR Distributions reserved on his behalf ($495,000) will be returned to Reorganized
Ampex.  
  

 A-2 

 Example 6 - Total Distribution by Reorganized Ampex to CPR Administrator in Light of Objecting Stockholders (e.g.
Stockholder X). Stockholder X objected to confirmation of the Plan and is not entitled to any CPR Distributions. For the 2009 Distribution Period, the total CPR Distributions to be made by Reorganized Ampex to the CPR Administrator is
$4,455,000, comprised of (a) $2,475,000 for Stockholder W, plus (b) $990,000 for Stockholder Y to be held in the CPR Reserve Account, plus (c) $990,000 for Stockholder Z to be held until Stockholder Z can be located or to be
distributed to other Right Holders pro rata after Stockholder Z becomes a Forfeited Right Holder. 
  

 A-3

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