Document:

Guarantee and Collateral Agreement dated as of August 20, 2004

 Exhibit 10.25 
  

  
 GUARANTEE AND COLLATERAL AGREEMENT 
  
 dated as of

  
 August 20, 2004 
  
 among 
  
 BLOCKBUSTER INC., 
  
 THE SUBSIDIARIES OF BLOCKBUSTER INC. 
 IDENTIFIED HEREIN 
  
 and 
  
 JPMORGAN CHASE BANK, 
  
 as Collateral Agent 
  

  

 TABLE OF CONTENTS 
  

					
	ARTICLE I	 	 
		
	Definitions	 	 
			
	 SECTION 1.01.
	 	 Credit Agreement
	 	1
			
	 SECTION 1.02.
	 	 Other Defined Terms
	 	1
		
	ARTICLE II	 	 
		
	Guarantee	 	 
			
	 SECTION 2.01.
	 	 Guarantee
	 	3
			
	 SECTION 2.02.
	 	 Guarantee of Payment
	 	3
			
	 SECTION 2.03.
	 	 No Limitations
	 	3
			
	 SECTION 2.04.
	 	 Reinstatement
	 	4
			
	 SECTION 2.05.
	 	 Agreement To Pay; Subrogation
	 	5
			
	 SECTION 2.06.
	 	 Information
	 	5
		
	ARTICLE III	 	 
		
	Pledge of Securities	 	 
			
	 SECTION 3.01.
	 	 Pledge
	 	5
			
	 SECTION 3.02.
	 	 Delivery of the Collateral
	 	6
			
	 SECTION 3.03.
	 	 Representations, Warranties and Covenants
	 	6
			
	 SECTION 3.04.
	 	 Representations, Warranties and Covenants for Limited Liability Company and Limited Partnership Interests
	 	8
			
	 SECTION 3.05.
	 	 Registration in Nominee Name; Denominations
	 	8
			
	 SECTION 3.06.
	 	 Voting Rights; Dividends and Interest
	 	8

  

					
		
	ARTICLE IV	 	 
		
	Remedies	 	 
			
	 SECTION 4.01.
	 	 Remedies Upon Event of Default
	 	10
			
	 SECTION 4.02.
	 	 Application of Proceeds
	 	12
			
	 SECTION 4.03.
	 	 Securities Act
	 	12
			
	 SECTION 4.04.
	 	 Registration
	 	13
		
	ARTICLE V	 	 
		
	Indemnity, Subrogation and Subordination	 	 
			
	 SECTION 5.01.
	 	 Indemnity and Subrogation
	 	14
			
	 SECTION 5.02.
	 	 Contribution and Subrogation
	 	14
			
	 SECTION 5.03.
	 	 Subordination
	 	14
		
	ARTICLE VI	 	 
		
	Miscellaneous	 	 
			
	 SECTION 6.01.
	 	 Notices
	 	15
			
	 SECTION 6.02.
	 	 Waivers; Amendment
	 	15
			
	 SECTION 6.03.
	 	 Collateral Agent’s Fees and Expenses; Indemnification
	 	15
			
	 SECTION 6.04.
	 	 Successors and Assigns
	 	16
			
	 SECTION 6.05.
	 	 Survival of Agreement
	 	16
			
	 SECTION 6.06.
	 	 Counterparts; Effectiveness; Several Agreement
	 	17
			
	 SECTION 6.07.
	 	 Severability
	 	17
			
	 SECTION 6.08.
	 	 Right of Set-Off
	 	17
			
	 SECTION 6.09.
	 	 Governing Law; Jurisdiction; Consent to Service of Process
	 	17
			
	 SECTION 6.10.
	 	 WAIVER OF JURY TRIAL
	 	18
			
	 SECTION 6.11.
	 	 Headings
	 	18
			
	 SECTION 6.12.
	 	 Security Interest Absolute
	 	19

  

					
			
	 SECTION 6.13.
	 	 Termination or Release
	  	19
			
	 SECTION 6.14.
	 	 Additional Subsidiaries
	  	19
			
	 SECTION 6.15.
	 	 Collateral Agent Appointed Attorney-in-Fact
	  	20

  

 Schedules 
  

			
	Schedule I	  	Subsidiary Parties
	Schedule II	  	Pledged Stock

  
 Exhibits 
  

			
	Exhibit I	  	Form of Supplement
	Exhibit II	  	Form of Perfection Certificate

  

 GUARANTEE AND COLLATERAL AGREEMENT dated as of August 20, 2004, among BLOCKBUSTER INC., the Subsidiaries
of BLOCKBUSTER INC. identified herein and JPMORGAN CHASE BANK, as Collateral Agent. 
  
 Reference is made to the Credit Agreement dated as of August 20, 2004 (as amended, supplemented, extended or otherwise modified from time to time, the “Credit Agreement”), among Blockbuster Inc. (the
“Borrower”), the Lenders party thereto and JPMorgan Chase Bank, as Administrative Agent. The Lenders have agreed to extend credit to the Borrower subject to the terms and conditions set forth in the Credit Agreement. The obligations
of the Lenders to extend such credit are conditioned upon, among other things, the execution and delivery of this Guarantee and Collateral Agreement (as amended, supplemented, extended or otherwise modified from time to time, this
“Agreement”). The Subsidiary Parties are affiliates of the Borrower, will derive substantial benefits from the extension of credit to the Borrower pursuant to the Credit Agreement and are willing to execute and deliver this
Agreement in order to induce the Lenders to extend such credit. Accordingly, the parties hereto agree as follows: 
  
 ARTICLE I 
  
 Definitions 
  
 SECTION 1.01. Credit
Agreement. (a) Capitalized terms used in this Agreement and not otherwise defined herein have the meanings specified in the Credit Agreement. All terms defined in the New York UCC (as defined herein) and not defined in this Agreement have the
meanings specified therein; the term “instrument” shall have the meaning specified in Article 9 of the New York UCC. 
  
 (b) The rules of construction specified in Section 1.03 of the Credit Agreement also apply to this Agreement; provided, that for purposes hereof
references to “this Agreement” set forth in clauses (c) and (d) of Section 1.03 of the Credit Agreement shall refer to this Agreement rather than the Credit Agreement. 
  
 SECTION 1.02. Other Defined Terms. As used in this Agreement, the following terms have the meanings specified below:

  
 “Agreement” has the meaning assigned to such
term in the preliminary statement of this Agreement. 
  
 “Borrower” has the meaning assigned to such term in the preliminary statement of this Agreement. 
  
 “Claiming Party” has the meaning assigned to such term in Section 5.02 this Agreement. 
  
 “Collateral” has the meaning assigned to such term in
Section 3.01. 
  

 “Contributing Party” has the meaning assigned to such term in Section 5.02 this
Agreement. 
  
 “Credit Agreement” has the meaning
assigned to such term in the preliminary statement of this Agreement. 
  
 “Federal Securities Laws” has the meaning assigned to such term in Section 4.03. 
  
 “Grantors” means the Borrower and each Subsidiary Party that at any time owns any Equity Interests in any Domestic Subsidiary or any
Significant Foreign Subsidiary, and “Grantor” shall mean any such Person individually. 
  
 “Guarantors” means the Subsidiary Parties, and “Guarantor” shall mean any such Person individually. 
  
 “Loan Document Obligations” means (a) the due and punctual
payment by the Borrower of (i) the principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on
the Loans, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under the Credit Agreement in respect of any Letter of Credit, when and
as due, including payments in respect of reimbursement of disbursements, interest thereon and obligations to provide cash collateral, and (iii) all other monetary obligations of the Borrower to any of the Secured Parties under the Credit Agreement
and each of the other Loan Documents, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred
during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), and (b) the due and punctual payment of all the monetary obligations of each other Loan
Party under or pursuant to this Agreement and each of the other Loan Documents. 
  
 “New York UCC” means the Uniform Commercial Code as from time to time in effect in the State of New York. 
  
 “Obligations” means (a) Loan Document Obligations and (b) except as otherwise agreed between a Loan Party and the counterparty to the
relevant Hedging Agreement, the due and punctual payment of all monetary obligations of each Loan Party under each Hedging Agreement that (i) is in effect on the Effective Date with a counterparty that is a Lender or an Affiliate of a Lender as of
the Effective Date or (ii) is entered into after the Effective Date with any counterparty that is a Lender or an Affiliate of a Lender at the time such Hedging Agreement is entered into. 
  
 “Perfection Certificate” means a certificate substantially in the form of Exhibit II, completed and
supplemented with the schedules and attachments 

  

 2 

 
contemplated thereby, and duly executed by a Financial Officer and the Secretary of the Borrower. 
  
 “Pledged Securities” means any stock certificates or other
securities now or hereafter included in the Collateral, including all certificates or other documents representing or evidencing any Collateral. 
  
 “Pledged Stock” has the meaning assigned to such term in Section 3.01. 
  
 “Proceeds” has the meaning specified in Section 9-102 of the New York UCC. 
  
 “Secured Parties” means (a) the Lenders, (b) the Collateral
Agent, (c) the Administrative Agent, (d) the security trustee under the Security Trust Deed and Security Over Shares Agreement governed by the laws of the United Kingdom, (e) the Issuing Banks, (f) each counterparty to any Hedging Agreement with a
Loan Party the obligations under which constitute Obligations, (g) the beneficiaries of each indemnification obligation undertaken by any Loan Party under any Loan Document and (h) the successors and assigns of each of the foregoing. 
  
 “Subsidiary Parties” means (a) the Domestic Subsidiaries
identified on Schedule I and (b) each other Domestic Subsidiary that becomes a party to this Agreement as a Subsidiary Party after the Effective Date. 
  
 ARTICLE II 
  
 Guarantee 
  
 SECTION 2.01. Guarantee. Each Guarantor unconditionally guarantees, jointly with the other Guarantors and severally, as a primary obligor and not merely as a surety, the due and punctual payment and performance of the Obligations.
Each of the Guarantors further agrees that the Obligations may be extended or renewed, in whole or in part, without notice to or further assent from it, and that it will remain bound upon its guarantee notwithstanding any extension or renewal of any
Obligation. Each of the Guarantors waives presentment to, demand of payment from and protest to the Borrower or any other Loan Party of any of the Obligations, and also waives notice of acceptance of its guarantee and notice of protest for
nonpayment. 
  
 SECTION 2.02. Guarantee of Payment. Each of
the Guarantors further agrees that its guarantee hereunder constitutes a guarantee of payment when due and not of collection, and waives any right to require that any resort be had by the Collateral Agent or any other Secured Party to any security
held for the payment of the Obligations or to any balance of any deposit account or credit on the books of the Collateral Agent or any other Secured Party in favor of the Borrower or any other Person. 
  
 SECTION 2.03. No Limitations. (a) Except for termination of a
Guarantor’s obligations hereunder as expressly provided in Section 6.13, the obligations of each Guarantor hereunder shall not be subject to any reduction, limitation, impairment 

  

 3 

 
or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense or
set-off, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of the Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor hereunder
shall not be discharged or impaired or otherwise affected by (i) the failure of the Collateral Agent or any other Secured Party to assert any claim or demand or to enforce any right or remedy under the provisions of any Loan Document or otherwise;
(ii) any rescission, waiver, amendment or modification of, or any release (other than a release of such Guarantor) from any of the terms or provisions of, any Loan Document or any other agreement, including with respect to any other Guarantor under
this Agreement; (iii) the release of any security held by the Collateral Agent or any other Secured Party for the Obligations or any of them; (iv) any default, failure or delay, willful or otherwise, in the performance of the Obligations; or (v) any
other act or omission that may or might in any manner or to any extent vary the risk of any Guarantor or otherwise operate as a discharge of any Guarantor as a matter of law or equity (other than the indefeasible payment in full in cash of all the
Obligations). Each Guarantor expressly authorizes the Secured Parties to take and hold security for the payment and performance of the Obligations, to exchange, waive or release any or all such security (with or without consideration), to enforce or
apply such security and direct the order and manner of any sale thereof in their sole discretion or to release or substitute any one or more other guarantors or obligors upon or in respect of the Obligations, all without affecting the obligations of
any Guarantor hereunder. 
  
 (b) To the fullest extent permitted
by applicable law, each Guarantor waives any defense based on or arising out of any defense of the Borrower or any other Loan Party or the unenforceability of the Obligations or any part thereof from any cause, or the cessation from any cause of the
liability of the Borrower or any other Loan Party, other than the indefeasible payment in full in cash of all the Obligations. The Collateral Agent and the other Secured Parties may, at their election, foreclose on any security held by one or more
of them by one or more judicial or nonjudicial sales, accept an assignment of any such security in lieu of foreclosure, compromise or adjust any part of the Obligations, make any other accommodation with the Borrower or any other Loan Party or
exercise any other right or remedy available to them against the Borrower or any other Loan Party, without affecting or impairing in any way the liability of any Guarantor hereunder except to the extent the Obligations have been fully and
indefeasibly paid in full in cash (it being understood, however, that the foregoing does not independently authorize the Collateral Agent or any holder of Obligations to take any such action in respect of the Collateral other than as permitted by
the Security Documents). To the fullest extent permitted by applicable law, each Guarantor waives any defense arising out of any such election even though such election operates, pursuant to applicable law, to impair or to extinguish any right of
reimbursement or subrogation or other right or remedy of such Guarantor against the Borrower or any other Loan Party, as the case may be, or any security. 
  
 SECTION 2.04. Reinstatement. Each of the Guarantors agrees that its guarantee hereunder shall continue to be effective or be reinstated, as the
case may be, if 

  

 4 

 
at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Collateral Agent or any other Secured Party
upon the bankruptcy or reorganization of the Borrower, any other Loan Party or otherwise. 
  
 SECTION 2.05. Agreement To Pay; Subrogation. In furtherance of the foregoing and not in limitation of any other right that the Collateral Agent or any other Secured Party has at law or in equity against any
Guarantor by virtue hereof, upon the failure of the Borrower or any other Loan Party to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice of prepayment or otherwise, each Guarantor hereby
promises to and will forthwith pay, or cause to be paid, to the Collateral Agent for distribution to the applicable Secured Parties in cash the amount of such unpaid Obligation. Upon payment by any Guarantor of any sums to the Collateral Agent as
provided above, all rights of such Guarantor against the Borrower or any other Loan Party arising as a result thereof by way of right of subrogation, contribution, reimbursement, indemnity or otherwise shall in all respects be subject to Article V.

  
 SECTION 2.06. Information. Each Guarantor assumes all
responsibility for being and keeping itself informed of the Borrower’s and each other Loan Party’s financial condition and assets, and of all other circumstances bearing upon the risk of nonpayment of the Obligations and the nature, scope
and extent of the risks that such Guarantor assumes and incurs hereunder, and agrees that none of the Collateral Agent or the other Secured Parties will have any duty to advise such Guarantor of information known to it or any of them regarding such
circumstances or risks. 
  
 ARTICLE III 
  
 Pledge of Securities 
  
 SECTION 3.01. Pledge. As security for the payment in full of the
Obligations, each Grantor hereby assigns, pledges and grants to the Collateral Agent, its successors and assigns, for the ratable benefit of the Secured Parties, a security interest in, all of such Grantor’s right, title and interest in, to and
under (a) the shares of capital stock and other Equity Interests in the Domestic Subsidiaries and Significant Foreign Subsidiaries as listed on Schedule II, and any other Equity Interests in any Domestic Subsidiaries and Significant Foreign
Subsidiaries (other than Blockbuster Australia Pty. Ltd.) obtained in the future by such Grantor and the certificates, if any, representing all such Equity Interests in the Domestic Subsidiaries and, subject to the restrictions set forth herein,
such Significant Foreign Subsidiaries (the “Pledged Stock”); (b) all other property that may be delivered to and held by the Collateral Agent pursuant to the terms of this Section 3.01; (c) subject to Section 3.06, all payments of
principal or interest, dividends, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of, in exchange for or upon the conversion of, and all other Proceeds received in respect of, the
securities referred to in clauses (a) and (b) above; (d) subject to Section 3.06, all rights and privileges of the Grantor with respect to the securities and other property referred to in clauses (a), (b) and (c) above; and (e) subject to Section
3.06, all Proceeds of any of the foregoing (the items referred to in clauses (a) 

  

 5 

 
through (d) above being collectively referred to as the “Collateral”); provided that the Collateral shall not include more than 65%
of the issued and outstanding voting Equity Interests of any Significant Foreign Subsidiary. 
  
 TO HAVE AND TO HOLD the Collateral, together with all right, title, interest, powers, privileges and preferences pertaining or incidental thereto, unto the Collateral Agent, its successors and assigns, for the ratable
benefit of the Secured Parties, forever; subject, however, to the terms, covenants and conditions hereinafter set forth. 
  
 SECTION 3.02. Delivery of the Collateral. (a) Each Grantor agrees promptly to deliver or cause to be delivered to the Collateral Agent any and all
Pledged Securities. 
  
 (b) Upon delivery to the Collateral Agent,
(i) any Pledged Stock shall be accompanied by stock powers duly executed in blank or other instruments of transfer satisfactory to the Collateral Agent and by such other instruments and documents as the Collateral Agent may reasonably request and
(ii) all other property comprising part of the Collateral shall be accompanied by proper instruments of assignment duly executed by the relevant Grantor and such other instruments or documents as the Collateral Agent may reasonably request. Each
delivery of Pledged Stock shall be accompanied by a schedule prepared by the Grantors describing the securities, which schedule shall be attached hereto as Schedule II and made a part hereof; provided that failure to attach any such schedule
hereto shall not affect the validity of such pledge of such Pledged Stock. Each schedule so delivered shall supplement any prior schedules so delivered. 
  
 SECTION 3.03. Representations, Warranties and Covenants. Each Grantor represents, warrants and covenants to and with the Collateral Agent, for the
benefit of the Secured Parties, that: 
  
 (a)
Schedule II as provided by the Grantors hereunder correctly sets forth the percentage of the issued and outstanding units of each class of the Equity Interests of the issuer thereof represented by the Pledged Stock and includes the Equity Interests
in all Domestic Subsidiaries and Significant Foreign Subsidiaries required to be pledged by such Grantor hereunder in order to satisfy the Collateral and Guarantee Requirement; 
  
 (b) the Pledged Stock has been duly and validly authorized and issued by the issuers thereof and are fully
paid and nonassessable; 
  
 (c) except for the
security interests granted hereunder, such Grantor (i) is and, subject to any consolidations, dissolutions, mergers, or other transfers made in compliance with the Credit Agreement, will continue to be the direct owner, beneficially and of record,
of the Pledged Stock indicated on Schedule II as owned by such Grantor, (ii) holds the same free and clear of all Liens, other than Liens created by this Agreement, Permitted Encumbrances and transfers made in compliance with the Credit Agreement,
(iii) will make no assignment, pledge, hypothecation or transfer of, or create or permit to exist any security interest in or 

  

 6 

 
other Lien on, the Collateral, other than Liens created by this Agreement, Permitted Encumbrances and transfers made in compliance with the Credit Agreement,
and (iv) will defend its title or interest thereto or therein against any and all Liens (other than the Lien created by this Agreement and Permitted Encumbrances), however arising, of all Persons whomsoever; 
  
 (d) except for restrictions and limitations imposed by the
Loan Documents or securities laws generally, the organizational documents of the Person the Equity Interests of which are part of the Collateral or applicable law, the Collateral is and will continue to be freely transferable and assignable, and
none of the Collateral is or will be subject to any option, right of first refusal, shareholders agreement, or charter or by-law provisions or contractual restriction of any nature that might prohibit, impair, delay or otherwise affect the pledge of
such Collateral hereunder, the sale or disposition thereof pursuant hereto or the exercise by the Collateral Agent of rights and remedies hereunder; 
  
 (e) such Grantor has the power and authority to pledge the Collateral pledged by it hereunder in the manner hereby done or contemplated;

  
 (f) no consent or approval of any
Governmental Authority, any securities exchange or any other Person was or is necessary to the validity of the pledge effected hereby (other than such as have been obtained and are in full force and effect); 
  
 (g) by virtue of the execution and delivery by such Grantor
of this Agreement, when any Pledged Stock is delivered to the Collateral Agent in accordance with this Agreement, the Collateral Agent will obtain a legal, valid and perfected first priority lien upon and security interest in such Pledged Stock as
security for the payment and performance of the Obligations; and 
  
 (h) the pledge effected hereby is effective to vest in the Collateral Agent, for the benefit of the Secured Parties, the rights of the Collateral Agent in the Collateral as set forth herein. 
  
 (i) The Perfection Certificate has been duly prepared,
completed and executed and the information set forth therein, including the exact legal name of such Grantor, is correct and complete as of the Effective Date. The Uniform Commercial Code financing statements prepared by the Collateral Agent based
upon the information provided to the Collateral Agent in the Perfection Certificate for filing in the office specified in the Perfection Certificate (or specified by notice from the Borrower to the Collateral Agent after the Effective Date in the
case of filings, recordings or registrations required by Sections 5.03(b) and 5.12 of the Credit Agreement), are all the filings, recordings and registrations that are necessary to publish notice of and protect the validity of and to establish a
legal, valid and perfected security interest in favor of the Collateral Agent (for the ratable benefit of the Secured Parties) in respect of the Collateral in which a security interest may be perfected by filing in the United States (or any
political 

  

 7 

 
subdivision thereof) and its territories and possessions, and no further or subsequent filing or refiling is necessary in any such jurisdiction, except as
provided under applicable law with respect to the filing of continuation statements. 
  
 (j) Each year, at the time of delivery of annual financial statements with respect to the preceding fiscal year pursuant to Section
5.01(a) of the Credit Agreement, the Borrower shall deliver to the Collateral Agent a certificate executed by a Financial Officer and the Secretary of the Borrower complying with the provisions of Section 5.03(b) of the Credit Agreement. 

 
 SECTION 3.04. Representations, Warranties and Covenants for Limited
Liability Company and Limited Partnership Interests. (a) Each Grantor acknowledges and agrees that (i) each interest in any limited liability company or limited partnership controlled by such Grantor and pledged hereunder that is represented by
a certificate shall be a “security” within the meaning of Article 8 of the New York UCC and shall be governed by Article 8 of the New York UCC and (ii) each such interest shall at all times hereafter be represented only by a certificate.

  
 (b) Each Grantor further acknowledges and agrees that (i) the
interests in any limited liability company or limited partnership controlled by such Grantor and pledged hereunder that are not represented by a certificate are not “securities” within the meaning of Article 8 of the New York UCC and (ii)
such Grantor shall at no time elect to treat any such interest as a “security” within the meaning of Article 8 of the New York UCC or issue any certificate representing such interest, unless such Grantor provides prior written notification
to the Collateral Agent of such election and promptly delivers any such certificate to the Collateral Agent pursuant to the terms hereof. 
  
 SECTION 3.05. Registration in Nominee Name; Denominations. After the occurrence and during the continuance of an Event of Default, (a) the
Collateral Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Stock in its own name as pledgee, the name of its nominee (as pledgee or as sub-agent) or the name of the relevant
Grantor, endorsed or assigned in blank or in favor of the Collateral Agent; (b) each Grantor will promptly give to the Collateral Agent copies of any notices or other communications received by it with respect to Pledged Stock registered in the name
of such Grantor; and (c) the Collateral Agent, on behalf of the Secured Parties, shall have the right to exchange the certificates representing Pledged Stock for certificates of smaller or larger denominations for any purpose consistent with this
Agreement. 
  
 SECTION 3.06. Voting Rights; Dividends and
Interest. (a) Unless and until an Event of Default shall have occurred and be continuing and the Collateral Agent shall have notified a Grantor that its rights under this Section 3.06 are being suspended: 
  
 (i) Such Grantor shall be entitled to exercise any and all
voting and/or other consensual rights and powers inuring to an owner of Pledged Stock or any 

  

 8 

 
part thereof for any purpose consistent with the terms of this Agreement, the Credit Agreement and the other Loan Documents. 
  
 (ii) The Collateral Agent shall execute and deliver to such
Grantor, or cause to be executed and delivered to such Grantor, all such proxies, powers of attorney and other instruments as such Grantor may reasonably request for the purpose of enabling the Grantor to exercise the voting and/or consensual rights
and powers it is entitled to exercise pursuant to subparagraph (i) above. 
  
 (iii) Such Grantor shall be entitled to receive and retain any and all dividends and other distributions paid on or distributed in respect of the Pledged Stock to the extent and only to the extent that such dividends
and other distributions are permitted by, and otherwise paid or distributed in accordance with, the terms and conditions of the Credit Agreement, the other Loan Documents and applicable laws; provided that any noncash dividends or other
distributions that would constitute Pledged Stock, whether resulting from a subdivision, combination or reclassification of the outstanding Equity Interests of the issuer of any Pledged Stock or received in exchange for Pledged Stock or any part
thereof, or in redemption thereof, or as a result of any merger, consolidation, acquisition or other exchange of assets to which such issuer may be a party or otherwise, shall be and become part of the Collateral, and, if received by a Grantor,
shall not be commingled by such Grantor with any of its other funds or property but shall be held separate and apart therefrom, shall be held in trust for the benefit of the Collateral Agent and shall be forthwith delivered to the Collateral Agent
in the same form as so received (with any necessary endorsement). 
  
 (b) Upon the occurrence and during the continuance of an Event of Default, after the Collateral Agent shall have notified a Grantor of the suspension of its rights under paragraph (a)(iii) of this Section 3.06, then all rights of the
Grantor to dividends or other distributions that the Grantor is authorized to receive pursuant to paragraph (a)(iii) of this Section 3.06 shall be suspended, and all such rights shall thereupon become vested in the Collateral Agent, which shall have
the sole and exclusive right and authority to receive and retain such dividends or other distributions. All dividends or other distributions received by any Grantor contrary to the provisions of this Section 3.06 shall be held in trust for the
benefit of the Collateral Agent, shall be segregated from other property or funds of the Grantor and shall be forthwith delivered to the Collateral Agent upon demand in the same form as so received (with any necessary endorsement). Any and all money
and other property paid over to or received by the Collateral Agent pursuant to the provisions of this paragraph (b) shall be retained by the Collateral Agent in an account to be established by the Collateral Agent upon receipt of such money or
other property and shall be applied in accordance with the provisions of Section 4.02. After all Events of Default have been cured or waived and the Borrower has delivered to the Collateral Agent a certificate to that effect, the Collateral Agent
shall revoke its notification of suspension of dividend rights delivered pursuant to paragraph (b) of this Section 3.06 and promptly repay to each Grantor (without interest) all dividends or other distributions that each Grantor would otherwise be
permitted to 

  

 9 

 
retain pursuant to the terms of paragraph (a)(iii) of this Section 3.06 and that remain in such account. 
  
 (c) Upon the occurrence and during the continuance of an Event of Default,
after the Collateral Agent shall have notified a Grantor of the suspension of its rights under paragraph (a)(i) of this Section 3.06, then all rights of the Grantor to exercise the voting and consensual rights and powers it is entitled to exercise
pursuant to paragraph (a)(i) of this Section 3.06, and the obligations of the Collateral Agent under paragraph (a)(ii) of this Section 3.06, shall cease, and all such rights shall thereupon become vested in the Collateral Agent, which shall have the
sole and exclusive right and authority to exercise such voting and consensual rights and powers; provided that, unless otherwise directed by the Required Lenders, the Collateral Agent shall have the right from time to time following and
during the continuance of an Event of Default to permit such Grantor to exercise such rights; provided further that such Grantor may refuse to exercise such rights. After all Events of Default have been cured or waived and the Borrower has
delivered to the Collateral Agent a certificate to that effect, the Collateral Agent shall revoke its notification of suspension of voting rights delivered pursuant to paragraph (c) of this Section 3.06. 
  
 (d) Any notice given by the Collateral Agent to a Grantor suspending its
rights under paragraph (a) of this Section 3.06 (i) shall be given in writing, (ii) may suspend the rights of such Grantor under paragraph (a)(i) or paragraph (a)(ii) in part without suspending all such rights (as specified by the Collateral Agent
in its sole and absolute discretion) and without waiving or otherwise affecting the Collateral Agent’s rights to give additional notices from time to time suspending other rights so long as an Event of Default has occurred and is continuing.

  
 ARTICLE IV 
  
 Remedies 
  
 SECTION 4.01. Remedies Upon Event of Default. Upon the occurrence and during the continuance of an Event of Default,
each Grantor agrees to deliver each item of Collateral to the Collateral Agent on demand. Each Grantor agrees that the Collateral Agent shall have the right, subject to the mandatory requirements of applicable law, to sell or otherwise dispose of
all or any part of the Collateral at a public or private sale or at any broker’s board or on any securities exchange, for cash, upon credit or for future delivery as the Collateral Agent shall deem appropriate. The Collateral Agent shall be
authorized at any such sale of securities (if it deems it advisable to do so) to restrict the prospective bidders or purchasers to Persons who will represent and agree that they are purchasing the Collateral for their own account for investment and
not with a view to the distribution or sale thereof, and upon consummation of any such sale the Collateral Agent shall have the right to assign, transfer and deliver to the purchaser or purchasers thereof the Collateral so sold. Each such purchaser
at any sale of Collateral shall hold the property sold absolutely, free from any claim or right on the part of any Grantor, and each Grantor hereby waives (to the extent permitted by law) all rights of 
  

 10 

 
redemption, stay and appraisal which such Grantor now has or may at any time in the future have under any rule of law or statute now existing or hereafter
enacted. 
  
 The Collateral Agent shall give the relevant Grantors
10 days’ written notice (which each Grantor agrees is reasonable notice within the meaning of Section 9-611 of the New York UCC or its equivalent in other jurisdictions) of the Collateral Agent’s intention to make any sale of Collateral.
Such notice, in the case of a public sale, shall state the time and place for such sale and, in the case of a sale at a broker’s board or on a securities exchange, shall state the board or exchange at which such sale is to be made and the day
on which the Collateral, or portion thereof, will first be offered for sale at such board or exchange. Any such public sale shall be held at such time or times within ordinary business hours and at such place or places as the Collateral Agent may
fix and state in the notice (if any) of such sale. At any such sale, the Collateral, or portion thereof, to be sold may be sold in one lot as an entirety or in separate parcels, as the Collateral Agent may (in its sole and absolute discretion)
determine. The Collateral Agent shall not be obligated to make any sale of any Collateral if it shall determine not to do so, regardless of the fact that notice of sale of such Collateral shall have been given. The Collateral Agent may, without
notice or publication, adjourn any public or private sale or cause the same to be adjourned from time to time by announcement at the time and place fixed for sale, and such sale may, without further notice, be made at the time and place to which the
same was so adjourned. In case any sale of all or any part of the Collateral is made on credit or for future delivery, the Collateral so sold may be retained by the Collateral Agent until the sale price is paid by the purchaser or purchasers
thereof, but the Collateral Agent shall not incur any liability in case any such purchaser or purchasers shall fail to take up and pay for the Collateral so sold and, in case of any such failure, such Collateral may be sold again upon like notice.
At any public (or, to the extent permitted by law, private) sale made pursuant to this Agreement, any Secured Party may bid for or purchase, free (to the extent permitted by law) from any right of redemption, stay, valuation or appraisal on the part
of any Grantor (all said rights being also hereby waived and released to the extent permitted by law), the Collateral or any part thereof offered for sale and may make payment on account thereof by using any claim then due and payable to such
Secured Party from any Grantor as a credit against the purchase price, and such Secured Party may, upon compliance with the terms of sale, hold, retain and dispose of such property without further accountability to any Grantor therefor. For purposes
hereof, a written agreement to purchase the Collateral or any portion thereof shall be treated as a sale thereof; the Collateral Agent shall be free to carry out such sale pursuant to such agreement and no Grantor shall be entitled to the return of
the Collateral or any portion thereof subject thereto, notwithstanding the fact that after the Collateral Agent shall have entered into such an agreement all Events of Default shall have been remedied and the Obligations paid in full. As an
alternative to exercising the power of sale herein conferred upon it, the Collateral Agent may proceed by a suit or suits at law or in equity to foreclose this Agreement and to sell the Collateral or any portion thereof pursuant to a judgment or
decree of a court or courts having competent jurisdiction or pursuant to a proceeding by a court-appointed receiver. Any sale pursuant to the provisions of this Section 4.01 shall be deemed to conform to the commercially reasonable standards as

  

 11 

 
provided in Section 9-610(b) of the New York UCC or its equivalent in other jurisdictions. 
  
 SECTION 4.02. Application of Proceeds. The Collateral Agent shall apply the proceeds of any collection or sale of
Collateral, including any Collateral consisting of cash, as follows: 
  
 FIRST, to the payment of all costs and expenses incurred by the Collateral Agent and the Administrative Agent in connection with such collection or sale or otherwise in connection with this Agreement, any other Loan
Document or any of the Obligations, including all court costs and the fees and expenses of its agents and legal counsel, the repayment of all advances made by the Collateral Agent hereunder or under any other Loan Document on behalf of any Grantor
and any other reasonable out-of-pocket costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Loan Document; 
  
 SECOND, to the payment in full of the Obligations (the amounts so applied to be distributed among the
Secured Parties pro rata in accordance with the amounts of the Obligations owed to them on the date of any such distribution); and 
  
 THIRD, to the Grantors, their successors or assigns, or as a court of competent jurisdiction may otherwise direct. 
  
 The Collateral Agent shall have absolute discretion as to the time of application of any such
proceeds, moneys or balances in accordance with this Agreement. Upon any sale of Collateral by the Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the Collateral Agent or of
the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the
Collateral Agent or such officer or be answerable in any way for the misapplication thereof. 
  
 SECTION 4.03. Securities Act. In view of the position of the Grantors in relation to the Collateral, or because of other current or future circumstances, a question may arise under the Securities Act of 1933,
as now or hereafter in effect, or any similar statute hereafter enacted analogous in purpose or effect (such Act and any such similar statute as from time to time in effect being called the “Federal Securities Laws”) with respect to
any disposition of the Collateral permitted hereunder. Each Grantor understands that compliance with the Federal Securities Laws might very strictly limit the course of conduct of the Collateral Agent if the Collateral Agent were to attempt to
dispose of all or any part of the Collateral, and might also limit the extent to which or the manner in which any subsequent transferee of any Collateral could dispose of the same. Similarly, there may be other legal restrictions or limitations
affecting the Collateral Agent in any attempt to dispose of all or part of the Collateral under applicable Blue Sky or other state securities laws or similar laws analogous in purpose or effect. Each Grantor recognizes that in light of such
restrictions and limitations the Collateral Agent may, with 

  

 12 

 
respect to any sale of the Collateral, limit the purchasers to those who will agree, among other things, to acquire such Collateral for their own account,
for investment, and not with a view to the distribution or resale thereof. Each Grantor acknowledges and agrees that based on any such existing and applicable restrictions and limitations, the Collateral Agent, in its reasonable discretion (a) may
proceed to make such a sale whether or not a registration statement for the purpose of registering such Collateral or part thereof shall have been filed under the Federal Securities Laws and (b) may approach and negotiate with a single potential
purchaser to effect such sale. Each Grantor acknowledges and agrees that any such sale might result in prices and other terms less favorable to the seller than if such sale were a public sale without the existence of any such applicable restrictions
and limitations. In the event of any such sale, the Collateral Agent shall incur no responsibility or liability for selling all or any part of the Collateral at a price that the Collateral Agent, in its sole and absolute discretion, may in good
faith deem reasonable under the circumstances, notwithstanding the possibility that a substantially higher price might have been realized if the sale were deferred until after registration as aforesaid or if more than a single purchaser were
approached. The provisions of this Section 4.03 will apply notwithstanding the existence of a public or private market upon which the quotations or sales prices may exceed substantially the price at which the Collateral Agent sells. 
  
 SECTION 4.04. Registration. Each Grantor agrees that, upon the
occurrence and during the continuance of an Event of Default, if for any reason the Collateral Agent desires to sell any of the Collateral at a public sale, it will, at any time and from time to time, upon the written request of the Collateral
Agent, use its best efforts to take or to cause the issuer of such Collateral to take such action and prepare, distribute and/or file such documents, as are required or advisable in the reasonable opinion of counsel for the Collateral Agent to
permit the public sale of such Collateral. Each Grantor further agrees to indemnify, defend and hold harmless the Collateral Agent, each other Secured Party, any underwriter and each of their officers, directors, affiliates and controlling persons
from and against all loss, liability, expenses, costs of counsel (including, without limitation, reasonable fees and expenses to the Collateral Agent of legal counsel), and claims (including the costs of investigation) that they may incur insofar as
such loss, liability, expense or claim arises out of or is based upon any alleged untrue statement of a material fact contained in any prospectus (or any amendment or supplement thereto) or in any notification or offering circular, or arises out of
or is based upon any alleged omission to state a material fact required to be stated therein or necessary to make the statements in any thereof not misleading, except insofar as the same may have been caused by any untrue statement or omission based
upon information furnished in writing to such Grantor or the issuer of such Collateral by the Collateral Agent or any other Secured Party expressly for use therein. Each Grantor further agrees, upon such written request referred to above, to use its
best efforts to qualify, file or register, or cause the issuer of such Collateral to qualify, file or register, any of the Collateral under the Blue Sky or other securities laws of such states as may be requested by the Collateral Agent and keep
effective, or cause to be kept effective, all such qualifications, filings or registrations. Each Grantor will bear all costs and expenses of carrying out its obligations under this Section 4.04. Each Grantor acknowledges that there is no adequate
remedy at law for failure by it to comply with the provisions of this 

  

 13 

 
Section 4.04 and that such failure would not be adequately compensable in damages, and therefore agrees that its agreements contained in this Section 4.04
may be specifically enforced. 
  
 ARTICLE V 
  
 Indemnity, Subrogation and Subordination 
  
 SECTION 5.01. Indemnity and Subrogation. In addition to all such
rights of indemnity and subrogation as the Guarantors may have under applicable law (but subject to Section 5.03), the Borrower agrees that (a) in the event a payment of an obligation shall be made by any Guarantor under this Agreement, the Borrower
shall indemnify such Guarantor for the full amount of such payment and such Guarantor shall be subrogated to the rights of the Person to whom such payment shall have been made to the extent of such payment and (b) in the event any assets of the
Grantor shall be sold pursuant to this Agreement or any other Security Document to satisfy in whole or in part an obligation owed to any Secured Party, the Borrower shall indemnify the Grantor in an amount equal to the greater of the book value or
the fair market value of the assets so sold. 
  
 SECTION 5.02.
Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 5.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or
assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the
Borrower as provided in Section 5.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each
case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantor on the date hereof (or, in the case of
any Guarantor or Grantor becoming a party hereto pursuant to Section 6.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section
5.02 shall be subrogated to the rights of such Claiming Party under Section 5.01 to the extent of such payment. 
  
 SECTION 5.03. Subordination. (a) Notwithstanding any provision of this Agreement to the contrary, all rights of the Guarantors and Grantor under
Sections 5.01 and 5.02 and all other rights of indemnity, contribution or subrogation under applicable law or otherwise shall be fully subordinated to the indefeasible payment in full in cash of the Obligations. No failure on the part of the
Borrower or any Guarantor or Grantor to make the payments required by Sections 5.01 and 5.02 (or any other payments required under applicable law or otherwise) shall in any respect limit the obligations and liabilities of any Guarantor or Grantor
with respect to its obligations hereunder, and each Guarantor and Grantor shall remain liable for the full amount of the obligations of such Guarantor or Grantor hereunder. 
  

 14 

 (b) Each Guarantor and Grantor hereby agrees that all Indebtedness and other monetary obligations owed by
it to any other Guarantor, Grantor or any other Subsidiary shall be fully subordinated to the indefeasible payment in full in cash of the Obligations. 
  
 ARTICLE VI 
  
 Miscellaneous 
  
 SECTION 6.01. Notices. All communications and notices hereunder shall (except as otherwise expressly permitted herein) be in writing and given as provided in Section 9.01 of the Credit Agreement. All
communications and notices hereunder to any Subsidiary Party shall be given to it in care of and to the attention of the Borrower as provided in Section 9.01 of the Credit Agreement. 
  
 SECTION 6.02. Waivers; Amendment. (a) No failure or delay by the Collateral Agent, an Issuing Bank or any Lender in
exercising any right or power hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or
power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Collateral Agent, the Issuing Banks and the Lenders hereunder and under the other Loan Documents are cumulative and are
not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by
paragraph (b) of this Section 6.02, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter
of Credit shall not be construed as a waiver of any Default, regardless of whether the Collateral Agent, any Lender or any Issuing Bank may have had notice or knowledge of such Default at the time. No notice or demand on any Loan Party in any case
shall entitle any Loan Party to any other or further notice or demand in similar or other circumstances. 
  
 (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to supplements to Schedules contemplated herein and
an agreement or agreements in writing entered into by the Collateral Agent and the Loan Party or Loan Parties with respect to which such waiver, amendment or modification is to apply, subject to any consent required in accordance with Section 9.02
of the Credit Agreement; provided, however, that neither Section 4.02 hereof nor the definitions of “Secured Parties” and “Obligations” shall be amended or modified in a manner adverse to any Secured Party without
the consent of such Secured Party. 
  
 SECTION 6.03. Collateral
Agent’s Fees and Expenses; Indemnification. (a) The parties hereto agree that the Collateral Agent shall be entitled to reimbursement of its expenses incurred hereunder as provided in Section 9.03 of the Credit Agreement. 
  

 15 

 (b) Without limitation of its indemnification obligations under the other Loan Documents, each Grantor
and each Guarantor jointly and severally agrees to indemnify the Collateral Agent and the other Indemnitees (as defined in Section 9.03 of the Credit Agreement) against, and hold each Indemnitee harmless from, any and all losses, claims, damages,
liabilities and related expenses, including the fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of, the execution, delivery or
performance of this Agreement or any claim, litigation, investigation or proceeding relating to any of the foregoing agreement or instrument contemplated hereby, or to the Collateral, whether or not any Indemnitee is a party thereto; provided
that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have
resulted from the gross negligence, bad faith or willful misconduct of such Indemnitee. 
  
 (c) Any such amounts payable as provided hereunder shall be additional Obligations secured hereby and by the other Security Documents. The provisions of this Section 6.03 shall remain operative and in full force and
effect regardless of the termination of this Agreement or any other Loan Document, the consummation of the transactions contemplated hereby, the repayment of any of the Obligations, the invalidity or unenforceability of any term or provision of this
Agreement or any other Loan Document, or any investigation made by or on behalf of the Collateral Agent or any other Secured Party. All amounts due under this Section 6.03 shall be payable not later than 10 days after on written demand therefor.

  
 SECTION 6.04. Successors and Assigns. Whenever in this
Agreement any of the parties hereto is referred to, such reference shall be deemed to include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on behalf of any Guarantor, Grantor or the Collateral
Agent that are contained in this Agreement shall bind and inure to the benefit of their respective successors and assigns. 
  
 SECTION 6.05. Survival of Agreement. All covenants, agreements, representations and warranties made by the Loan Parties in the Loan Documents and
in the certificates or other instruments prepared or delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the Lenders and shall survive the execution and delivery of
the Loan Documents and the making of any Loans and issuance of any Letters of Credit, regardless of any investigation made by any Lender or on its behalf and notwithstanding that the Collateral Agent, the Issuing Bank or any Lender may have had
notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended under the Credit Agreement, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or
any fee or any other amount payable under any Loan Document is outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments have not expired or terminated. 
  

 16 

 SECTION 6.06. Counterparts; Effectiveness; Several Agreement. This Agreement may be executed in
counterparts, each of which shall constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed signature page to this Agreement by facsimile transmission shall be as effective as delivery of
a manually signed counterpart of this Agreement. This Agreement shall become effective as to any Loan Party when a counterpart hereof executed on behalf of such Loan Party shall have been delivered to the Collateral Agent and a counterpart hereof
shall have been executed on behalf of the Collateral Agent, and thereafter shall be binding upon such Loan Party and the Collateral Agent and their respective permitted successors and assigns, and shall inure to the benefit of such Loan Party, the
Collateral Agent and the other Secured Parties and their respective successors and assigns, except that no Loan Party shall have the right to assign or transfer its rights or obligations hereunder or any interest herein or in the Collateral (and any
such assignment or transfer shall be void) except as expressly contemplated by this Agreement or the Credit Agreement. This Agreement shall be construed as a separate agreement with respect to each Loan Party and may be amended, modified,
supplemented, waived or released with respect to any Loan Party without the approval of any other Loan Party and without affecting the obligations of any other Loan Party hereunder. 
  
 SECTION 6.07. Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a
particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions
the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
  
 SECTION 6.08. Right of Set-Off. If an Event of Default shall have occurred and be continuing, each Lender and each of its Affiliates is hereby
authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations at any time owing by
such Lender or Affiliate to or for the credit or the account of any Subsidiary Party against any of and all the obligations of such Subsidiary Party now or hereafter existing under this agreement owed to such Lender, irrespective of whether or not
such Lender shall have made any demand under this Agreement and although such obligations may be unmatured. The rights of each Lender under this Section 6.08 are in addition to other rights and remedies (including other rights of set-off) which such
Lender may have. 
  
 SECTION 6.09. 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. 
  
 (b) Each of the Loan Parties hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of the Supreme
Court 

  

 17 

 
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 any other Loan Document, 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 or any other Loan Document shall affect any right that the Collateral Agent, the
Issuing Bank or any Lender may otherwise have to bring any action or proceeding relating to this Agreement or any other Loan Document against the Grantor or Guarantor, or its properties in the courts of any jurisdiction. 
  
 (c) Each of the Loan Parties hereby irrevocably and unconditionally waives,
to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Loan Document in any
court referred to in paragraph (b) of this Section 6.09. 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 6.01, such service to be effective upon receipt. Nothing in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any
other manner permitted by law. 
  
 SECTION 6.10. WAIVER OF JURY
TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN
DOCUMENT (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 6.10. 

 
 SECTION 6.11. Headings. Article and Section headings and the Table
of Contents used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 
  

 18 

 SECTION 6.12. Security Interest Absolute. All rights of the Collateral Agent hereunder, the grant
of a security interest in the Collateral and all obligations of each Grantor and Guarantor hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of the Credit Agreement, any other Loan Document, any
agreement with respect to any of the Obligations or any other agreement or instrument relating to any of the foregoing, (b) any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other
amendment or waiver of or any consent to any departure from the Credit Agreement, any other Loan Document or any other agreement or instrument relating to the Credit Agreement, (c) any exchange, release or non-perfection of any Lien on other
collateral, or any release or amendment or waiver of or consent under or departure from any guarantee, securing or guaranteeing all or any of the Obligations, or (d) any other circumstance that might otherwise constitute a defense available to, or a
discharge of, any Grantor or Guarantor in respect of the Obligations or this Agreement other than payment in full of the Obligations. 
  
 SECTION 6.13. Termination or Release. (a) This Agreement, the Guarantees made herein and all security interests granted hereby shall terminate when
all the Loan Document Obligations have been indefeasibly paid in full and the Lenders have no further commitment to lend under the Credit Agreement, the LC Exposure has been reduced to zero and the Issuing Banks have no further obligations to issue
Letters of Credit under the Credit Agreement. 
  
 (b) A Subsidiary
Party shall automatically be released from its obligations hereunder and the security interest in the Collateral of such Subsidiary Party shall be automatically released upon the consummation of any transaction permitted by the Credit Agreement as a
result of which such Subsidiary Party ceases to be a Subsidiary of the Borrower; provided that the Required Lenders shall have consented to such transaction (to the extent required by the Credit Agreement) and the terms of such consent did
not provide otherwise. 
  
 (c) Upon any sale or other transfer by
a Grantor of any Collateral that is permitted under the Credit Agreement, or upon the effectiveness of any written consent to the release of the security interest granted hereby in any Collateral pursuant to Section 9.02 of the Credit Agreement, the
security interest in such Collateral shall be automatically released. 
  
 (d) In connection with any termination or release pursuant to paragraph (a), (b) or (c), the Collateral Agent shall execute and deliver to the relevant Grantor, at such Grantor’s expense, all documents that such Grantor shall
reasonably request to evidence such termination or release. Any execution and delivery of documents pursuant to this Section 6.13 shall be without recourse to or warranty by the Collateral Agent. 
  
 SECTION 6.14. Additional Subsidiaries. Pursuant to Section 5.11 of the
Credit Agreement, each Domestic Subsidiary of the Borrower that was not in existence or not a Subsidiary on the date of the Credit Agreement is required to enter into this 

  

 19 

 
Agreement as a Subsidiary Party upon becoming such a Subsidiary. Upon execution and delivery by the Collateral Agent and a Subsidiary of an instrument in the
form of Exhibit I hereto, such Subsidiary shall become a Subsidiary Party hereunder with the same force and effect as if originally named as a Subsidiary Party herein. The execution and delivery of any such instrument shall not require the consent
of any other Loan Party hereunder. The rights and obligations of each Loan Party hereunder shall remain in full force and effect notwithstanding the addition of any new Loan Party as a party to this Agreement. 
  
 SECTION 6.15. Collateral Agent Appointed Attorney-in-Fact. Each
Grantor hereby appoints the Collateral Agent the attorney-in-fact of such Grantor for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instrument that the Collateral Agent may deem necessary or
advisable to accomplish the purposes hereof, which appointment is irrevocable and coupled with an interest, but which shall only be exercised by the Collateral Agent if and when an Event of Default shall have occurred and is continuing. Without
limiting the generality of the foregoing, the Collateral Agent shall have the right, upon the occurrence and during the continuance of an Event of Default, with full power of substitution either in the Collateral Agent’s name or in the name of
such Grantor (a) to receive, endorse, assign and/or deliver any and all notes, acceptances, checks, drafts, money orders or other evidences of payment relating to the Collateral or any part thereof; (b) to demand, collect, receive payment of, give
receipt for and give discharges and releases of all or any of the Collateral; (c) to commence and prosecute any and all suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect or otherwise realize on all
or any of the Collateral or to enforce any rights in respect of any Collateral; (d) to settle, compromise, compound, adjust or defend any actions, suits or proceedings relating to all or any of the Collateral; and (e) to use, sell, assign, transfer,
pledge, make any agreement with respect to or otherwise deal with all or any of the Collateral, and to do all other acts and things necessary to carry out the purposes of this Agreement, as fully and completely as though the Collateral Agent were
the absolute owner of the Collateral for all purposes; provided that nothing herein contained shall be construed as requiring or obligating the Collateral Agent to make any commitment or to make any inquiry as to the nature or sufficiency of
any payment received by the Collateral Agent, or to present or file any claim or notice, or to take any action with respect to the Collateral or any part thereof or the moneys due or to become due in respect thereof or any property covered thereby.
The Collateral Agent and the other Secured Parties shall be accountable only for amounts actually received as a result of the exercise of the powers granted to them herein, and neither they nor their officers, directors, employees or agents shall be
responsible to any Grantor for any act or failure to act hereunder, except for their own gross negligence, bad faith or willful misconduct. 
  

 20 

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

			
	 BLOCKBUSTER INC.,

		
	by	 	/s/    LARRY J. ZINE
	 	 	 Name:  Larry J. Zine

	 	 	 Title:    Executive Vice President &
        Chief Financial
Officer

	
	2 DAY VIDEO, INC. OF GEORGIA,
	
	ATLANTIC ASSOCIATES, INC.,
	
	BLOCKBUSTER AMPHITHEATER CORPORATION,
	
	BLOCKBUSTER CANADA INC.,
	
	BLOCKBUSTER COMPUTER SYSTEMS CORPORATION,
	
	BLOCKBUSTER DISTRIBUTION, INC.,
	
	BLOCKBUSTER ENTERTAINMENT CORPORATION,
	
	BLOCKBUSTER GLOBAL SERVICES INC.,
	
	BLOCKBUSTER INTERNATIONAL SPAIN INC.,
	
	BLOCKBUSTER INVESTMENTS LLC,
	
	 BLOCKBUSTER PROCUREMENT LP,
 (by its general
partner, Blockbuster
Distribution, Inc.),

	
	BLOCKBUSTER SC VIDEO OPERATING CORPORATION,
	
	 BLOCKBUSTER TEXAS LP,
 (by its general
partner, Blockbuster Inc.),

	
	BLOCKBUSTER VIDEO ITALY, INC.,

  

			
	CHARLOTTE AMPHITHEATER CORPORATION,
	
	D.E.J. PRODUCTIONS INC.,
	
	GAME BRANDS INC.,
	
	MAJOR VIDEO SUPER STORES, INC.,
	
	MONTGOMERY ACQUISITION, INC.,
	
	MOVIE BRANDS INC.,
	
	ON-LINE SUBSCRIPTION SERVICES INC.,
	
	THE T.V. FACTORY, INC.,
	
	TRADING ZONE INC.,
	
	UI VIDEO STORES, INC.,
	
	THE WESTSIDE AMPHITHEATRE CORP.,
	
	 WJB REALTY, L.P.,
 (by its general partner,
Blockbuster Inc.),

	
	 WJB VIDEO LIMITED PARTNERSHIP,
 (by its
general partner, Blockbuster Inc.)

  

							
			
	 	 	by	 	/S/    LARRY J. ZINE
	 	 	 	 	

	 	 	 	 	Name:	 	Larry J. Zine
	 	 	 	 	Title:	 	 Executive Vice President & Chief
 Financial
Officer

  

			
	BLOCKBUSTER LIMITED PARTNER HOLDINGS LLC,

  

							
			
	 	 	by	 	/S/    PHIL MCNUT
	 	 	 	 	

	 	 	 	 	Name:	 	 Phil McNut

	 	 	 	 	Title:	 	 Vice-President of International
 Merchandising

  

					
	JPMORGAN CHASE BANK, as
Administrative Agent
		
	 by
	 	 /s/    THOMAS H.
KOZLARK

	 	 	 Name:
	 	 Thomas H. Kozlark

	 	 	 Title:
	 	 Vice President

  

 Schedule I to 
 the Guarantee and 
 Collateral Agreement 
  
 SUBSIDIARY PARTIES 
  

 Schedule II to 
 the Guarantee and 
 Collateral Agreement 
  
 EQUITY INTERESTS 
  

									
	 Issuer

	 	 Number of
 Certificate

	 	 Registered
 Owner

	  	 Number and
 Class of
 Equity Interest

	  	 Percentage
 of Equity Interests

	 	 	 	 	 	  	 	  	 
	 	 	 	 	 	  	 	  	 
	 	 	 	 	 	  	 	  	 

  

 Exhibit I to the 
 Guarantee and 
 Collateral Agreement 
  
 SUPPLEMENT NO.          dated as of
                    , to the Guarantee and Collateral Agreement dated as of August 20, 2004, among Blockbuster Inc., a Delaware corporation
(the “Borrower”), each subsidiary of the Borrower listed on Schedule I thereto (each such subsidiary individually a “Subsidiary Guarantor” and collectively, the “Subsidiary
Guarantors”; the Borrower and each Subsidiary Guarantor required to pledge Equity Interests under such agreement being referred to herein as the “Grantors”) and JPMORGAN CHASE BANK, a New York banking corporation
(“JPMCB”), as Collateral Agent (in such capacity, the “Collateral Agent”). 
  
 A. Reference is made to the Credit Agreement dated as of August 20, 2004 (as amended, supplemented or otherwise modified from time to time, the
“Credit Agreement”), among the Borrower, the lenders from time to time party thereto and, JPMCB, as Administrative Agent. 
  
 B. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement and the
Collateral Agreement referred to therein. 
  
 C. The Grantors and
Subsidiary Guarantors have entered into the Collateral Agreement in order to induce the Lenders to make Loans and the Issuing Banks to issue Letters of Credit. Section 6.14 of Collateral Agreement provides that additional Subsidiaries of the
Borrower may become Subsidiary Parties under the Collateral Agreement by execution and delivery of an instrument in the form of this Supplement. The undersigned Subsidiary (the “New Subsidiary”) is executing this Supplement in
accordance with the requirements of the Credit Agreement to become a Subsidiary Party under the Collateral Agreement in order to induce the Lenders to make additional Loans and the Issuing Banks to issue additional Letters of Credit and as
consideration for Loans previously made and Letters of Credit previously issued. 
  
 Accordingly, the Collateral Agent and the New Subsidiary agree as follows: 
  
 SECTION 1. In accordance with Section 6.14 of the Collateral Agreement, the New Subsidiary by its signature below becomes a Subsidiary Party, a Guarantor
and, if such New Subsidiary at any time owns any Equity Interests in a Significant Subsidiary, a Grantor under the Collateral Agreement with the same force and effect as if originally named therein as a Subsidiary Party, and the New Subsidiary
hereby (a) agrees to all the terms and provisions of the Collateral Agreement applicable to it, if any, as a Subsidiary Party, Grantor and Guarantor thereunder and (b) represents and warrants that the representations and warranties made by it as a
Grantor, if applicable, and Guarantor thereunder are true and correct on and as of the date hereof. In 

  

 
furtherance of the foregoing, the New Subsidiary, as security for the payment in full of the Obligations (as defined in the Collateral Agreement), does
hereby assign, pledge and grant to the Collateral Agent, its successors and assigns, for the benefit of the Secured Parties, their successors and assigns, a security interest in and lien on all of the New Subsidiary’s right, title and interest
in and to the Collateral (as defined in the Collateral Agreement) of the New Subsidiary. Each reference to a “Guarantor” or “Grantor” (if applicable) in the Collateral Agreement shall be deemed to include the New Subsidiary. The
Collateral Agreement is hereby incorporated herein by reference. 
  
 SECTION 2. The New Subsidiary represents and warrants to the Collateral Agent and the other Secured Parties that this Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation,
enforceable against it in accordance with its terms. 
  
 SECTION
3. This Supplement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Supplement
shall become effective when the Collateral Agent shall have received a counterpart of this Supplement that bears the signature of the New Subsidiary and the Collateral Agent has executed a counterpart hereof. Delivery of an executed signature page
to this Supplement by facsimile transmission shall be as effective as delivery of a manually signed counterpart of this Supplement. 
  
 SECTION 4. The New Subsidiary hereby represents and warrants that as of the date hereof (a) set forth on Schedule I attached hereto is a true and correct
schedule of all Equity Interests owned or held by the New Subsidiary and (b) set forth under its signature hereto is the true and correct legal name of the New Subsidiary, its jurisdiction of organization, the identifying number, if any, assigned to
it by such jurisdiction, and the location of its chief executive office. 
  
 SECTION 5. Except as expressly supplemented hereby, the Collateral Agreement shall remain in full force and effect. 
  
 SECTION 6. THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  
 SECTION 7. In case any one or more of the provisions contained in this
Supplement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and in the Collateral Agreement shall not in any way be affected or impaired thereby
(it being understood that the invalidity of a particular provision in a particular jurisdiction shall not in and of itself affect the validity of such provision in any other jurisdiction). The parties hereto shall endeavor in good-faith negotiations
to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
  

 2 

 SECTION 8. All communications and notices hereunder shall be in writing and given as provided in Section
6.01 of the Collateral Agreement. 
  
 SECTION 9. The New
Subsidiary agrees to reimburse the Collateral Agent for its reasonable out-of-pocket expenses in connection with this Supplement, including the reasonable fees, other charges and disbursements of counsel for the Collateral Agent. 
  
 IN WITNESS WHEREOF, the New Subsidiary and the Collateral Agent have duly
executed this Supplement as of the day and year first above written. 
  

					
	[NAME OF NEW SUBSIDIARY],
			
	 	 	by	 	 
	 	 	 	 	 Name:

	 	 	 	 	 Title:

			
	 	 	 	 	 Legal Name:

	 	 	 	 	 Jurisdiction of Organization:

	 	 	 	 	 Identifying Number (if any):

	 	 	 	 	 Location of Chief Executive office:

  

					
	 JPMORGAN CHASE BANK,
 AS COLLATERAL
AGENT

			
	 	 	by	 	 
	 	 	 	 	 Name:

	 	 	 	 	 Title:

  

 3 

 Schedule I 
 to the Supplement No      to the 
 Guarantee and 
 Collateral Agreement 
  
 EQUITY INTERESTS 
  

									
	 Issuer

	 	 Number of
 Certificate

	 	 Registered
 Owner

	  	 Number and
 Class of
 Equity Interests

	  	 Percentage
 of Equity Interests

	 	 	 	 	 	  	 	  	 
	 	 	 	 	 	  	 	  	 
	 	 	 	 	 	  	 	  	 

  

 Exhibit II to the 
 Guarantee and 
 Collateral Agreement 
  
 PERFECTION CERTIFICATE 
  
 Reference is made to the Credit Agreement dated as of August 20, 2004 (as amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among Blockbuster Inc. (the “Borrower”), the lenders from time to time party thereto, and JPMorgan Chase Bank, as Administrative Agent (in such capacity, the “Administrative Agent”). Capitalized terms used but
not defined herein have the meanings assigned in the Credit Agreement or the Collateral Agreement, as applicable. The term “Grantor” refers to each Loan Party. 
  
 The undersigned, the Executive Vice President, Chief Financial Officer and the Secretary of the Borrower, hereby certify to
the Administrative Agent and each other Secured Party as follows: 
  
 1. Names. (a) The exact legal name of each Grantor, as such name appears in its certificate of formation, is as set forth on Exhibit A hereto: 
  
 (b) Set forth on Exhibit A hereto is each other legal name each Grantor has had in the past five years, together with
the date of the relevant change: 
  
 (c) Except as set forth in
Exhibit A hereto, no Grantor has changed its identity or corporate structure in any way within the past five years. Changes in identity or corporate structure would include mergers, consolidations and acquisitions, as well as any change in
the form, nature or jurisdiction of organization. If any such change has occurred, include on Exhibit A hereto the information required by Sections 1 and 2 of this certificate as to each acquire or constituent party to a merger or
consolidation. 
  
 (d) Set forth on Exhibit A hereto is a
list of all other names used by each Grantor or any of its divisions or other business units in connection with the conduct of its business or the ownership of its properties at any time during the past five years: 
  
 (e) Set forth on Exhibit A hereto is the Organizational Identification
Number, if any, issued by the jurisdiction of formation of each Grantor that is a registered organization. 
  
 2. Current Locations. (a) The chief executive office of each Grantor is located at the address set forth opposite its name on Exhibit A
hereto. 
  
 (b) The jurisdiction of formation of each Grantor that
is a registered organization is set forth opposite its name on Exhibit A hereto. 
  
 3. File Search Reports. File search reports have been obtained from each Uniform Commercial Code filing office identified with respect to each Grantor in Section 2 hereof, and such search reports reflect no
liens against any of the Collateral other than those permitted under the Credit Agreement. 
  

 4. UCC Filings. Financing statements in substantially the form of Exhibit B hereto have
been prepared for filing in the proper Uniform Commercial Code filing office in the jurisdiction in which each Grantor required to pledge Collateral under the Loan Documents is located. 
  
 5. Schedule of Filings. Attached hereto as Exhibit C is a schedule setting forth, with respect to the filings
described in Section 4 above, each filing and the filing office in which such filing is to be made. 
  
 6. Stock Ownership and other Equity Interests. Attached hereto on Exhibit A is a true and correct list of all the issued and outstanding
stock, partnership interests, limited liability company membership interests or other equity interest of each Subsidiary and the record and beneficial owners of such stock, partnership interests, membership interests or other equity interests.

  

 2 

 IN WITNESS WHEREOF, the undersigned have duly executed this certificate on this
[    ] day of [                    ], 2004. 
  

							
	 BLOCKBUSTER INC.,

			
	 	 	by	 	 
	 	 	 	 	 Name:
	 	Larry J. Zine
	 	 	 	 	 Title:
	 	 Executive Vice President;
 Chief Financial
Officer

			
	 	 	by	 	 
	 	 	 	 	 Name:
	 	Marilyn R. Post
	 	 	 	 	 Title:
	 	Secretary

  

 3Rule 10b5-1 Plan

 EXHIBIT 10.1 
  
 INSTRUCTIONS FOR PROGRAMMED PLAN OF TRANSACTIONS 
  

											
	 	 
	 	 	General Instructions. I hereby instruct A.G. Edwards & Sons, Inc. (“A.G. Edwards”) to implement a
programmed plan of
transactions as outlined below (the “Instructions”). I understand that the instructions below are subject to review prior to
acceptance by A.G. Edwards. The Instructions are valid only for the specific security,
account number and maximum total
shares indicated:
	 	 	Client’s Name: William E. M. Lands	  	 	  	 	  	 
	 	 	Name of Security: Omega Protein Corporation	  	 	  	 	  	 
	 	 	Account Number:             	  	 	  	 	  	 
	 	 	 	 	
	  	 	  	 	  	 
	 	 	Maximum Total Shares to Be Bought or Sold Under the Instructions: 30,000	  	 
	 	 	Relationship of Client to Issuer:	  	 	  	 	  	 
	 	 	 	 	  ̈ Executive Officer
(Specify)
	  	x Director	  	 	  	 
	 	 	 	 	
	  	 	  	 	  	 
	 	 	 	 	  ̈10% (or Greater)
Shareholder
	  	 ̈ Other (Specify)	  	 	  	 
	 	 	 	 	 	  	 	  	
	  	 
	 	 	Special Information for Transactions Involving Stock Option Exercises. If shares that will be sold pursuant to
these
Instructions are to be delivered to A.G. Edwards by exercise of options, provide the following information for each grant:
	 	 	 	 	 Grant Date:
	  	Exercise Price:	  	 	  	 
	 	 	 	 	
	  	 	  	
	  	 
	 	 	 	 	 Quantity:
	  	Type of Option:	  	 	  	 
	 	 	 	 	
	  	 	  	
	  	 
	 	 	 	 	 Additional options information
attached     ̈   Yes     ̈  No

  
 COMPLETE ONLY
ONE OF THE FOLLOWING SECTIONS 
  
 Section 1: Buy or Sell
Specified Quantity of Shares At the Market Price 
  
 Place an
order to:  ̈  BUY /  ̈  SELL (check one)                      shares on the
                 day of each  ̈  WEEK /
 ̈  MONTH (check one) at the market price at any time during normal market hours on such date. 
  
 Additional instructions attached?  ̈  Yes     ̈  No 

 
 Section 2: Buy or Sell At A Designated Share Price (“Limit Order”) on
Multiple Occasions 
  
 Place an order to:  ̈  BUY / x  SELL (check one)
                     shares at a limit price of
                     (insert limit price) on the
                 day of each  ̈  WEEK /
 ̈  MONTH (check one time period) at any time during normal market hours on such date. The limit order above will be “Good
Until Cancelled.” No subsequent limit order is to be entered until the preceding limit order has been executed; and not more than one limit order is to be entered per time period. 
  
 Additional instructions attached? x  Yes     ̈  No 
  
 Section 3: Buy or Sell at A Designated Share Price (“Limit Order”) on a
Single Occasion 
  
 Place an order to:  ̈  BUY /  ̈  SELL (check one)                      shares at a limit price of
                     (insert limit price) on
                 (insert date) at any time during normal market hours on that date. The limit order above will be “Good Until Cancelled.”

  
 Additional instructions attached?  ̈  Yes     ̈  No 

 Section 4: Buy or Sell A Specified Dollar Amount of Shares 
  
 Place an order to:  ̈  BUY /  ̈  SELL (check one) the number of
whole shares that comes closest to, but does not exceed, $                 market value on the
                 day of each  ̈  WEEK /
 ̈  MONTH (check one time period). The market value will be based on the market price at the time the order is executed, which I
understand may occur at any time during normal market hours on such date. 
  
 Additional instructions attached?  ̈  Yes     ̈  No 
  
 DISCLOSURES, REPRESENTATIONS AND FURTHER INSTRUCTIONS 
 FOR PROGRAMMED PLAN OF TRANSACTIONS

  
 General Representations. I understand that these Instructions are
intended to conform with certain provisions of SEC Rule 10b5-1 of the Securities and Exchange Commission (hereafter referred to as “the Rules”), and that the Rules permit a person who comes into possession of material, non-public
information with respect to a security to be able to effect a trade in the security, provided instructions to effect the trade were given prior to the person learning the information. I hereby represent to A.G. Edwards that, as of the date of my
signature below: I am not in possession of material, non-public information about the security to which the Instructions pertain; the Instructions provided are given in good faith and are not part of a plan or scheme to evade the laws governing
insider trading; I am under no legal, regulatory or contractual restriction of undertaking that would prevent A.G. Edwards from acting upon the Instructions, including but not limited to any private placement transfer restrictions, pledge or other
encumbrance, rights of first refusal, or any other matters that may prohibit or prevent the free transfer of the securities covered by these Instructions; and, if I am a director or executive officer of the issuer, then I am not subject to any
current pension fund blackout period applicable to such issuer, and am not aware of the actual or approximate beginning or ending dates of any such blackout period. I understand that it is my responsibility to comply with all applicable securities
laws and policies of the issuer of the securities with respect to the transactions contemplated by these Instructions. 
  
 I understand that the laws governing insider trading are fact-specific. I understand that there can be no guarantee that any transaction that is executed pursuant to the
Instructions will be deemed to be covered by the protection of the Rules. 
  
 Effective Date. The Instructions will become effective upon A.G. Edwards’ acceptance of the Instructions as evidenced by the date of the last signature on this document. 
  
 Automatic Termination of Plan. I direct that this plan will automatically terminate
upon purchase or sale of the maximum shares subject to this plan, or if I fail to pay for any trade entered pursuant to the Instructions, or when A.G. Edwards learns of my death, or upon my demonstrating to A.G. Edwards that any of the following
contingencies have occurred: 
  

	 	•	Twelve months has passed from the effective date of these Instructions without all of the securities having been purchased or sold, as applicable; 

  

	 	•	A public announcement has been made of a tender offer involving the issuer’s securities; 

  

	 	•	A definitive agreement has been announced relating to a merger, reorganization, consolidation or similar transaction in which the securities covered by this agreement would be
subject to a lock-up provision; 

  

	 	•	A sale has been made of all or substantially all of the assets of the issuer on a consolidated basis to an unrelated person or entity; or if a transaction affecting the issuer
occurs in which the owners of the issuer’s outstanding voting power prior to the transaction do not own at least a majority of the outstanding voting power of the successor entity immediately upon completion of the transaction;

  

	 	•	A dissolution or liquidation of the issuer takes place; or 

  

	 	•	It comes to my attention that the Instructions or its attendant transactions may violate existing, new or revised federal or state laws or regulations, or may cause a breach of a
contract or agreement to which the issuer is a party or by which the issuer is bound. 

  
 In no event shall A.G. Edwards be deemed to have not followed the Instructions if I do not provide notice of the above contingencies prior to the placement of a scheduled order under the plan. 
  
 Non-Market Days. If I have given instructions that require an order to be entered on a
particular date, and the date that I have selected for a transaction falls on a day when the applicable primary market for the security is closed, then I direct that the transaction occur on the next regular business day on which such market is open
following the original date indicated. 
  

 Effect of Deviation From Instructions. I understand that the protections of the Rules may not apply if I
alter or deviate from the Instructions in any way. I further understand that I may be considered to have altered or deviated from the Instructions if I terminate the plan or these Instructions or if, while the Instructions are in effect, I change
the amount, price or timing of any purchase or sale; if I enter supplemental, ad hoc orders with respect to the security that is the subject of the Instructions; if I attempt to directly or indirectly influence the timing of the placement or
execution of orders other than through these written instructions; or if I enter or alter a corresponding or hedging transaction with respect to such security. I understand that any such activities would be undertaken at may own risk without
liability or consequence to A.G. Edwards. 
  
 State Insider Trading
Laws. I understand that some states may have their own laws that relate to insider trading. I understand that A.G. Edwards makes no representation to me with respect to whether these Instructions conform to the laws of any particular
state, and that I will seek the advice of my own counsel with respect to matters of state law. 
  
 Effect of “Short-Swing Profit” Rules. I understand that federal securities laws may require me to disgorge all profits earned in connection with any purchase and sale of stock that occurs
within six months of each other if I own 10% or more of any class of the issuer’s equity securities, or if I am an officer or director of the issuer (i.e., “short-swing profits”). I further understand that it is my own responsibility
to ensure compliance with such short-swing profit rules, and that I will seek my own counsel with respect to ensuring compliance with such rules. 
  
 Sales of Restricted Stock or Control Stock Pursuant to SEC Rule 144. I understand that the Instructions are applicable only as to securities that are
freely-tradable and that are not subject to any restrictions against purchase or sale. If I am considered an “Affiliate” within the meaning of Rule 144, then I understand that the provisions of that rule may limit the number of shares I
can sell at any given time. In the event there is a conflict between the quantity of securities that I directed be purchased or sold and any lesser amount of shares that are permitted to be sold pursuant to Rule 144 or other securities laws or
rules, I hereby direct that the maximum limits established by such other laws or rules shall govern. I agree to advise A.G. Edwards whether securities covered by these Instructions are covered by Rule 144 and to timely provide appropriate and
necessary paperwork, duly executed, in order to facilitate compliance with the filing requirements of that rule and to achieve the purposes of these Instructions. Further, because volume limitations are applicable under Rule 144 regardless where I
may sell securities, I represent that I will place no orders with other securities firms to sell securities of the same class as those contemplated by these Instructions without immediately notifying A.G. Edwards in sufficient time to prevent any
improper sales. 
  
 Reporting Requirements for Certain Shareholders.
I understand that there are securities laws and rules that require certain shareholders to timely file reports with the Securities and Exchange Commission as to the shareholder’s purchases and sales of the issuer’s securities. I understand
that it is my responsibility to ensure compliance with such rules, and that I will seek my own counsel with respect to whether and when such reports might need to be filed. 
  
 Indemnification Agreement. I understand that A.G. Edwards can make no representations or guarantee that any transaction
entered according to the Instructions will not subsequently be found to violate federal or state laws or rules against trading by insiders or trading on the basis of material, non-public information or other laws or rules governing securities
transactions. Therefore, in consideration of A.G. Edwards’ acceptance of these instructions, I hereby agree to indemnify and hold harmless A.G. Edwards and its directors, officers and employees from any liability, loss or expense (including any
legal fees and expenses reasonably incurred) arising out of any transaction or transactions executed pursuant to the Instructions or from any deviation I might make from the plan. 
  
 Market Disruptions, Internal Restrictions and Other Unusual Situations. I understand that A.G. Edwards may not be able to
effect a sale due to a market disruption or a legal, regulatory or contractual restriction to which it may be subject. If any transaction cannot be executed due to a market disruption, a legal, regulatory, or contractual restriction applicable to
A.G. Edwards, or any other event, A.G. Edwards agrees to effect such sale as promptly as practical after the cessation or termination of such market disruption, applicable restriction or other event. In addition, it is understood that, from time to
time, A.G. Edwards places internal restrictions on the ability of customers to enter orders in connection with specific securities. In the event such restrictions may apply to the securities covered by this plan, and that such resections would
prevent orders from being place in connection with these Instructions, then this plan will automatically terminate with no liability to A.G. Edwards. 
  
 Coordination With Issuer. I understand that some issuers restrict or limit employees or certain other persons from trading in the issuer’s securities
(e.g., an employee or director may only be permitted to trade during certain 

 “window periods” or may be prohibited from trading during certain “blackout periods”). In addition, I
understand that, if I am deemed to be an affiliate or an affiliated purchaser of an issuer whose securities I might be purchasing, then my transactions could limit or otherwise hinder the issuer’s ability to effectuate a share repurchase
program under federal securities laws and rules (specifically, SEC Rule 10b-18). Therefore, I represent A.G. Edwards that, to the extent such provisions may apply to me, I have reviewed these Instructions with the issuer and that the issuer has
consented to the Instructions outlined herein. 
  
 Effect of Instructions on
Other Agreements With A.G. Edwards. Nothing in these Instructions changes any other terms or agreements that are already applicable to my account or otherwise between A.G. Edwards and me. 
  
 Choice of Law Regarding Interpretations of Instructions. These Instructions
shall be construed in accordance with the laws of the State of New York. 
  

			
	 /s/ William E. M. Lands

	  	

	 Printed Name of Client
	  	 Signature

	 	  	 

  
 August 19, 2004 
  
 Acknowledged By: 
  
 A.G. Edwards & Sons, Inc. 
  

			
	
	  	 
	Signature of Branch Office Manager

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