Document:

Security Agreement, dated as of September 1, 2005

 EXHIBIT 10.2 
  
 SECURITY AGREEMENT 
  
 THIS SECURITY AGREEMENT (this “Security Agreement”), is entered into as of September 1, 2005, among LIONBRIDGE TECHNOLOGIES,
INC., a Delaware corporation (the “Company”), each of the Domestic Subsidiaries of the Company from time to time party hereto (individually a “US Guarantor” and collectively the “US Guarantors”;
the US Guarantors, together with the Company, individually an “Obligor” and collectively the “Obligors”) and WACHOVIA BANK, NATIONAL ASSOCIATION, in its capacity as Administrative Agent under the Credit
Agreement referred to below (in such capacity, the “Administrative Agent”) for the several banks and other financial institutions as may from time to time become parties to such Credit Agreement (individually a
“Lender” and collectively the “Lenders”). 
  
 RECITALS 
  
 WHEREAS, pursuant to that certain Credit Agreement dated as of the date hereof (as amended, modified, extended, renewed, restated or replaced from time to time, the “Credit Agreement”), among the Company, Lionbridge
Technologies Ireland, a company formed under the laws of Ireland, as the Irish Borrower, Lionbridge Technologies Holdings B.V., a company incorporated under the laws of The Netherlands with corporate seat in Amsterdam, as a Dutch Borrower, the US
Guarantors, the Foreign Guarantors party thereto, the Lenders party thereto and the Administrative Agent, the Lenders have agreed to make Loans and to issue and/or acquire participation interests in Letters of Credit upon the terms and subject to
the conditions set forth therein; and 
  
 WHEREAS, it is a
condition precedent to the effectiveness of the Credit Agreement and the obligations of the Lenders to make their respective Loans and to issue and/or acquire participation interests in Letters of Credit under the Credit Agreement that the Obligors
shall have executed and delivered this Security Agreement to the Administrative Agent for the ratable benefit of the Lenders. 
  
 NOW, THEREFORE, in consideration of these premises and other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree as follows: 
  
 1.
Definitions. 
  
 (a) Unless otherwise
defined herein, capitalized terms used herein shall have the meanings ascribed to such terms in the Credit Agreement, and the following terms which are defined in the Uniform Commercial Code from time to time in effect in the State of New York (the
“UCC”) are used herein as so defined: Accessions, Accounts, As-Extracted Collateral, Chattel Paper, Commercial Tort Claims, Consumer Goods, Control, Deposit Accounts, Documents, Electronic Chattel Paper, Equipment, Farm Products, Fixtures,
General Intangibles, Goods, Instruments, Inventory, Investment Property, Letter-of-Credit Rights, Manufactured Homes, Proceeds, Securities Account, 

 
Securities Intermediary, Security Entitlement, Software, Supporting Obligations and Tangible Chattel Paper. For purposes of this Security Agreement, the term
“Lender” shall include any Hedging Agreement Provider. 
  
 (b) In addition, the following terms shall have the following meaning: 
  
 “Material Copyright” means a Copyright that is material to the business of any Credit Party or any of its Subsidiaries.

  
 “Material Intellectual
Property” means any Intellectual Property that is material to the business of any Credit Party or any of its Subsidiaries. 
  
 “Material Patent” means a Patent that is material to the business of any Credit Party or any of its Subsidiaries.

  
 “Material Trademark” means a
Trademark that is material to the business of any Credit Party or any of its Subsidiaries. 
  
 “Secured Obligations” means: (i) all of the Credit Party Obligations (including obligations under Secured Hedging
Agreements), howsoever evidenced, created, incurred or acquired, whether primary, secondary, direct, contingent, or joint and several and (ii) all expenses and charges, legal and otherwise, incurred by the Administrative Agent, the Lenders and/or
the Hedging Agreement Providers in collecting or enforcing any of the Credit Party Obligations or in realizing on or protecting any security therefor, including without limitation the security interest granted hereunder. 
  
 2. Grant of Security Interest in the Collateral. 
  
 (a) To secure the prompt payment and performance in full
when due, whether by lapse of time, acceleration, mandatory prepayment or otherwise, of the Secured Obligations, each Obligor hereby grants to the Administrative Agent, for the ratable benefit of the Lenders, a continuing security interest in, and a
right to set off against, any and all right, title and interest of such Obligor in and to the following, whether now owned or existing or owned, acquired, or arising hereafter (collectively, the “Collateral”): 
  

	 	(i)	all Accounts; 

  
  

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	 	(ii)	all cash and Cash Equivalents; 

  

	 	(iii)	all Chattel Paper (including Electronic Chattel Paper); 

  

	 	(iv)	those certain Commercial Tort Claims of such Obligor set forth on Schedule 2(a)(iv) attached hereto (as such Schedule may be updated from time to time by such Obligor);

  

	 	(v)	all Copyright Licenses; 

  

	 	(vi)	all Copyrights; 

  

	 	(vii)	all Deposit Accounts; 

  

	 	(viii)	all Documents; 

  

	 	(ix)	all Equipment; 

  

	 	(x)	all Fixtures; 

  

	 	(xi)	all General Intangibles; 

  

	 	(xii)	all Goods; 

  

	 	(xiii)	all Instruments; 

  

	 	(xiv)	all Inventory; 

  

	 	(xv)	all Investment Property; 

  

	 	(xvi)	all Letter-of-Credit Rights; 

  

	 	(xvii)	all Material Contracts and all such other agreements, contracts, leases, licenses, tax sharing agreements or hedging arrangements now or hereafter entered into by an Obligor, as
such agreements may be amended or otherwise modified from time to time (collectively, the “Assigned Agreements”), including without limitation, (A) all rights of an Obligor to receive moneys due and to become due under or pursuant
to the Assigned Agreements, (B) all rights of an Obligor to receive proceeds of any insurance, indemnity, warranty or guaranty with respect to the Assigned Agreements, (C) claims of an Obligor for damages arising out of or for breach of or default
under the Assigned Agreements and (D) the right of an Obligor to terminate the Assigned Agreements, to perform thereunder and to compel performance and otherwise exercise all remedies thereunder; 

  

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	 	(xviii)	all Payment Intangibles; 

  

	 	(xix)	all Patent Licenses; 

  

	 	(xx)	all Patents; 

  

	 	(xxi)	all Trademark Licenses; 

  

	 	(xxii)	all Trademarks; 

  

	 	(xxiii)	all Securities Accounts; 

  

	 	(xxiv)	all Software; 

  

	 	(xxv)	all Supporting Obligations; 

  

	 	(xxvi)	all books, records, ledger cards, files, correspondence, computer programs, tapes, disks, and related data processing software (owned by such Obligor or in which it has an interest)
that at any time evidence or contain information relating to any Collateral or are otherwise necessary or helpful in the collection thereof or realization thereupon; 

  

	 	(xxvii)	all other personal property of any kind or type whatsoever owned by such Obligor; and 

  

	 	(xxviii)	to the extent not otherwise included, all Accessions, Proceeds and products of any and all of the foregoing. 

  
 (b) The Obligors and the Administrative Agent, on behalf of
the Lenders, hereby acknowledge and agree that the security interest created hereby in the Collateral (i) constitutes continuing collateral security for all of the Secured Obligations, whether now existing or hereafter arising and (ii) is not to be
construed as a present assignment of any Intellectual Property. 
  
 (c) The term “Collateral” (i) shall include any Secured Hedging Agreement and any rights of the Obligors thereunder only for purposes of this Section 2 and (ii) shall not include any contract or agreement if
the grant of a security interest therein would cause a breach under such contract or agreement or grounds for the termination thereof, unless such default or termination provision of such contract or agreement is unenforceable under the UCC or other
applicable law. 
  
  

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 3. Provisions Relating to Accounts, Contracts and Agreements. 
  
 (a) Anything herein to the contrary notwithstanding, each of
the Obligors shall remain liable under each of its Accounts, contracts and agreements to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement giving
rise to each such Account or the terms of such contract or agreement. Neither the Administrative Agent nor any Lender shall have any obligation or liability under any Account (or any agreement giving rise thereto), contract or agreement by reason of
or arising out of this Security Agreement or the receipt by the Administrative Agent or any Lender of any payment relating to such Account, contract or agreement pursuant hereto, nor shall the Administrative Agent or any Lender be obligated in any
manner to perform any of the obligations of an Obligor under or pursuant to any Account (or any agreement giving rise thereto), contract or agreement, to make any payment, to make any inquiry as to the nature or the sufficiency of any payment
received by it or as to the sufficiency of any performance by any party under any Account (or any agreement giving rise thereto), contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the
payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times. 
  
 (b) The Administrative Agent hereby authorizes the Obligors to collect the Accounts; provided, that the Administrative Agent may
curtail or terminate such authority at any time after the occurrence and during the continuation of an Event of Default. If required by the Administrative Agent at any time after the occurrence and during the continuation of an Event of Default, any
payments of Accounts, when collected by the Obligors (i) shall be forthwith (and in any event within two (2) Business Days) deposited by the Obligors in a collateral account maintained under the sole dominion and control of the Administrative Agent,
subject to withdrawal by the Administrative Agent for the account of the Lenders only as provided in Section 12 hereof, and (ii) until so turned over, shall be held by the Obligors in trust for the Administrative Agent and the Lenders, segregated
from other funds of the Obligors. 
  
 (c) Not
more frequently than once per fiscal quarter or at any time after the occurrence and during the continuance of an Event of Default, the Administrative Agent shall have the right, but not the obligation, after giving prior notice to the Company, to
make test verifications of the Accounts in any manner and through any medium that it reasonably considers advisable, and the Obligors shall furnish all such assistance and information as the Administrative Agent may require in connection with such
test verifications. Upon the Administrative Agent’s request and at the expense of the Obligors, the Obligors shall cause independent public accountants or others satisfactory to the Administrative Agent to furnish to the Administrative Agent
reports showing reconciliations, aging and test verifications of, and trial balances for, the Accounts. Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent in its own name or in the name of others may
communicate with account debtors on the Accounts to verify with them to the Administrative Agent’s satisfaction the existence, amount and terms of any Accounts. 
  

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 4. Representations and Warranties. Each Obligor hereby represents and warrants to the
Administrative Agent, for the benefit of the Lenders, that so long as any of the Secured Obligations (other than contingent indemnity obligations that survive termination of the Credit Documents pursuant to the stated terms thereof) remain
outstanding, any Credit Document or Secured Hedging Agreement is in effect, and until all of the Commitments shall have been terminated: 
  
 (a) Chief Executive Office; Books & Records; Legal Name; State of Formation. As of the Closing Date, each Obligor’s chief
executive office and chief place of business are (and for the prior four months has been) located at the locations set forth on Schedule 3.19(c) to the Credit Agreement, and as of the Closing Date each Obligor keeps its books and records at
such locations. As of the Closing Date, each Obligor’s exact legal name is as shown in this Security Agreement and its state of incorporation or organization is (and for the prior four months has been) the location set forth on Schedule
3.3 to the Credit Agreement. No Obligor has in the four months preceding the Closing Date changed its name, been party to a merger, consolidation or other change in structure or used any tradename not disclosed on Schedule 4(a) attached
hereto (as updated from time to time). 
  
 (b)
Location of Tangible Collateral. As of the Closing Date, the location of all tangible Collateral owned by each Obligor is as shown on Schedule 3.19(b) to the Credit Agreement. 
  
 (c) Ownership. Subject to the terms of Section 2(c),
each Obligor is the legal and beneficial owner of its Collateral and has the right to pledge, sell, assign or transfer the same. 
  
 (d) Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for
the benefit of the Lenders, in the Collateral of such Obligor and, when properly perfected by filing, obtaining possession, the granting of Control to the Administrative Agent or otherwise, shall constitute a valid first priority, perfected security
interest in such Collateral, to the extent such security interest can be perfected by filing, obtaining possession, the granting of Control or otherwise under the UCC or by filing an appropriate notice with the United States Patent and Trademark
Office or the United States Copyright Office, free and clear of all Liens except for Permitted Liens. 
  
 (e) Consents. Subject to the terms of Section 2(c), except for (i) the filing or recording of UCC financing statements, (ii) the
filing of appropriate notices with the United States Patent and Trademark Office and the United States Copyright Office, (iii) obtaining Control to perfect the Liens created by this Security Agreement, no consent or authorization of, filing with, or
other act by or in respect of, any arbitrator or Governmental Authority and no consent of any other Person (including, without limitation, any stockholder, member or creditor of such Obligor) is required, except for consents that have 

  

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been obtained, (A) for the grant by such Obligor of the security interest in the Collateral granted hereby or for the execution, delivery or performance of
this Security Agreement by such Obligor or (B) for the perfection of such security interest or the exercise by the Administrative Agent of the rights and remedies provided for in this Security Agreement. 
  
 (f) Types of Collateral. None of the Collateral
consists of, or is the Proceeds of, As-Extracted Collateral, Consumer Goods, Farm Products, Manufactured Homes or standing timber (as such term is used in the UCC). 
  
 (g) Accounts. With respect to the Accounts of the Obligors, except to the extent any of the following
could not reasonably be expected to have a Material Adverse Effect: (i) the goods sold and/or services furnished giving rise to each Account are not subject to any security interest or Lien except the first priority, perfected security interest
granted to the Administrative Agent herein and except for Permitted Liens; (ii) each Account and the papers and documents of the applicable Obligor relating thereto are genuine and in all material respects what they purport to be; (iii) each Account
arises out of a bona fide transaction for goods sold and delivered (or in the process of being delivered) by an Obligor or for services actually rendered by an Obligor, which transaction was conducted in the ordinary course of the Obligor’s
business and was completed in accordance with the terms of any documents pertaining thereto; (iv) the amount of each Account as shown on the applicable Obligor’s books and records; (v) to each of the Obligor’s knowledge, the account debtor
with respect to each Account has the capacity to contract; (vi) no surety bond was required or given in connection with any Account of an Obligor or the contracts or purchase orders out of which they arose; (vii) no Account is evidenced by a
judgment, there are no set-offs, counterclaims or disputes existing or asserted with respect to any Account, and no Obligor has made any agreement with any account debtor for any deduction from any Account except for deductions made in the ordinary
course of its business; (viii) there are no facts, events or occurrences which in any material respect impair the validity or enforcement of any Account or tend to materially reduce the amount payable thereunder as shown on the applicable
Obligor’s books and records; and (ix) the right to receive payment under each Account is assignable except where the account debtor with respect to such Account is a Governmental Authority, to the extent assignment of any such right to payment
is prohibited or limited by applicable law, regulations, administrative guidelines or contract. 
  
 (h) Inventory. No Inventory of an Obligor is held by a third party (other than an Obligor) pursuant to consignment, sale or return,
sale on approval or similar arrangement. 
  
 (i)
Intellectual Property. As of the Closing Date: 
  
 (i) all Material Intellectual Property of each Obligor is valid, subsisting, unexpired, enforceable and has not been abandoned, and each Obligor is legally entitled to use each of its material tradenames; 
  

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 (ii) except as set forth in Schedule 3.16 to the Credit Agreement, none of the
registered Intellectual Property of the Obligors is the subject of any licensing or franchise agreement; 
  
 (iii) no holding, decision or judgment has been rendered by any Governmental Authority which would limit, cancel or question the validity
of any Material Intellectual Property of the Obligors; 
  
 (iv) no action or proceeding is pending seeking to limit, cancel or question the validity of any Material Intellectual Property of the Obligors, or which, if adversely determined, would have a material adverse effect on the value of any
such Material Intellectual Property; 
  
 (v) all
applications pertaining to the Material Intellectual Property of each Obligor have been duly and properly filed, and all registrations or letters pertaining to such Material Intellectual Property have been duly and properly filed and issued, and all
of such Material Intellectual Property is valid and enforceable, unless the failure of an application or registration with respect to any such Material Intellectual Property to be filed or issued, or the failure of any such Material Intellectual
Property to be valid and enforceable, would not have a material adverse effect on the value of such Material Intellectual Property; and 
  
 (vi) no Obligor has made any assignment or entered into any agreement in conflict with the security interest of the Administrative Agent
in the Intellectual Property of each Obligor hereunder, except for licenses of Intellectual Property in the ordinary course of business. 
  
 (j) Documents, Instruments and Chattel Paper. All material Documents, Instruments and Chattel Paper describing, evidencing or
constituting Collateral are, to the Obligors’ knowledge, complete, valid, and genuine. 
  
 (k) Equipment. With respect to each Obligor’s Equipment (other than leased Equipment and Equipment subject to a Permitted
Lien): (i) such Obligor has good and marketable title thereto; and (ii) all such Equipment is in normal operating condition and repair, ordinary wear and tear alone excepted (subject to casualty events), and is suitable for the uses to which it is
customarily put in the conduct of such Obligor’s business. 
  
 (l) Collateral Requiring Control to Perfect. Set forth on Schedule 4(l) is a description of all Deposit Accounts, Electronic Chattel Paper, Letter-of-Credit Rights, Securities Accounts and uncertificated
Investment Property of the Obligors, including the name and address of (i) in the case of a Deposit Account, the depository institution, (ii) in the case of Electronic Chattel Paper, the account debtor, (iii) in the case of Letter-of-Credit Rights,
the issuer or nominated person, as applicable, and (iv) in the case of a Securities Account or other uncertificated Investment Property, the Securities Intermediary or issuer, as applicable. 
  

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 5. Covenants. Each Obligor covenants that, so long as any of the Secured Obligations (other than
contingent indemnity obligations that survive termination of the Credit Documents pursuant to the stated terms thereof) remain outstanding, any Credit Document or Secured Hedging Agreement is in effect, and until all of the Commitments shall have
been terminated, such Obligor shall: 
  
 (a)
Perfection of Security Interest by Filing, Etc. Execute and deliver to the Administrative Agent and/or file such agreements, assignments or instruments (including affidavits, notices, reaffirmations, amendments and restatements of existing
documents and, subject to the terms of the Credit Agreement, any documents as may be necessary if the law of any jurisdiction other than New York becomes or is applicable to the Collateral or any portion thereof, in each case as the Administrative
Agent may reasonably request) and do all such other things as the Administrative Agent may reasonably deem necessary or appropriate (i) to assure to the Administrative Agent its security interests hereunder are perfected, including (A) such
financing statements (including continuation statements) or amendments thereof or supplements thereto or other instruments as the Administrative Agent may from time to time reasonably request in order to perfect and maintain the security interests
granted hereunder in accordance with the UCC and any other personal property security legislation in the appropriate state(s) or province(s), (B) with regard to Copyrights and Copyright Licenses, a Notice of Grant of Security Interest in Copyrights
for filing with the United States Copyright Office in the form of Schedule 5(a)-1 attached hereto, (C) with regard to Patents and Patent Licenses, a Notice of Grant of Security Interest in Patents for filing with the United States Patent and
Trademark Office in the form of Schedule 5(a)-2 attached hereto and (D) with regard to Trademarks and Trademark Licenses, a Notice of Grant of Security Interest in Trademarks for filing with the United States Patent and Trademark Office in
the form of Schedule 5(a)-3 attached hereto, (ii) to consummate the transactions contemplated hereby and (iii) to otherwise protect and assure the Administrative Agent of its rights and interests hereunder. Each Obligor hereby authorizes the
Administrative Agent to prepare and file such financing statements (including continuation statements) or amendments thereof or supplements thereto or other instruments as the Administrative Agent may from time to time deem necessary or appropriate
in order to perfect and maintain the security interests granted hereunder in accordance with the UCC, including, without limitation, any financing statement that describes the Collateral as “all personal property” or “all assets”
of such Obligor or that describes the Collateral in some other manner as the Administrative Agent deems necessary or advisable. Each Obligor agrees to mark its books and records to reflect the security interest of the Administrative Agent in the
Collateral. 
  
 (b) Perfection of Security
Interest by Possession. If (i) any amount payable under or in connection with any of the Collateral shall be or become evidenced by any Instrument, Tangible Chattel Paper or Supporting Obligation or (ii) if any Collateral shall be stored or
shipped subject to a Document or (iii) if any Collateral shall consist of Investment Property in the form of certificated securities, promptly notify the Administrative Agent of the existence of such Collateral and, upon the Administrative
Agent’s request, deliver such 

  

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Instrument, Chattel Paper, Supporting Obligation, Document or Investment Property to the Administrative Agent, duly endorsed in a manner satisfactory to the
Administrative Agent, to be held as Collateral pursuant to this Security Agreement. 
  
 (c) Perfection of Security Interest Through Control. 
  
 (i) If any Collateral shall consist of Electronic Chattel Paper, Letter-of-Credit Rights or uncertificated
Investment Property (other than Securities Accounts), promptly notify the Administrative Agent of the existence of such Collateral and, upon the Administrative Agent’s request, execute and deliver (and, with respect to any Collateral consisting
of uncertificated Investment Property, cause the issuer with respect to such Investment Property to execute and deliver) to the Administrative Agent all control agreements, assignments, instruments or other documents as reasonably requested by the
Administrative Agent for the purposes of obtaining and maintaining Control of such Collateral. 
  
 (ii) Upon the occurrence and during the continuance of an Event of Default, if any Collateral shall consist of Deposit Accounts,
Securities Accounts or uncertificated Securities Entitlements, at the Administrative Agent’s request execute and deliver (and, with respect to any Collateral consisting of a Securities Account, cause the Securities Intermediary with respect to
such Securities Account to execute and deliver) to the Administrative Agent all control agreements or other documents as reasonably requested by the Administrative Agent for the purposes of obtaining and maintaining Control of such Collateral.

  
 (d) Other Liens. Defend its interests
in the Collateral against the claims and demands of all other parties claiming an interest therein and keep the Collateral free from all Liens, except for Permitted Liens. Neither the Administrative Agent nor any Lender authorizes any Obligor to,
and no Obligor shall, sell, exchange, transfer, assign, lease or otherwise dispose of the Collateral or any interest therein, except as permitted under the Credit Agreement. 
  
 (e) Preservation of Collateral. Keep the Collateral in good order, condition and repair in all
material respects, ordinary wear and tear excepted; not use the Collateral in violation of the provisions of this Security Agreement or any other agreement relating to the Collateral or any policy insuring the Collateral; not use the Collateral in
violation of any applicable Requirement of Law, except as could not reasonably be expected to have a Material Adverse Effect; and not permit any Collateral to be or become a fixture to real property or an accession to other personal property unless
the Administrative Agent has a valid, perfected and first priority security interest for the benefit of the Lenders in such real or personal property. 
  
 (f) Changes in Structure or Location. Not, without providing 30 days prior written notice to the Administrative Agent and without
filing (or confirming that the Administrative Agent has filed) such financing statements and amendments to any 

  

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previously filed financing statements as the Administrative Agent may require, (i) alter its legal existence or, in one transaction or a series of
transactions, merge into or consolidate with any other entity, or sell all or substantially all of its assets, (ii) change its state of incorporation or organization, or (iii) change its registered legal name. 
  
 (g) Inspection. Allow the Administrative Agent or its
representatives to visit and inspect the Collateral as set forth in Section 5.6 of the Credit Agreement. 
  
 (h) Collateral Held by Warehouseman, Bailee, etc. If any Collateral is at any time in the possession or control of a warehouseman,
bailee or any agent or processor of such Obligor, (i) notify the Administrative Agent of such possession, (ii) notify such Person of the Administrative Agent’s security interest for the benefit of the Lenders in such Collateral, (iii) instruct
such Person to hold all such Collateral for the Administrative Agent’s account subject to the Administrative Agent’ s instructions and (iv) obtain an acknowledgment from such Person that it is holding such Collateral for the benefit of the
Administrative Agent. 
  
 (i) Treatment of
Accounts. (i) Not grant or extend the time for payment of any Account, or compromise or settle any Account for less than the full amount thereof, or release any person or property, in whole or in part, from payment thereof, or allow any credit
or discount thereon, unless such actions could not reasonable be expected to have a Material Adverse Effect, and (ii) maintain at its principal place of business a record of Accounts consistent with customary business practices. 
  
 (j) Covenants Relating to Copyrights. 
  
 (i) Not do any act or knowingly omit to do any act whereby
any Material Copyright may become invalidated or become injected into the public domain. 
  
 (ii) Not make any assignment or agreement in conflict with the security interest in the Copyrights of each Obligor hereunder, except for
licenses of Copyrights in the ordinary course of business. 
  
 (k) Covenants Relating to Patents and Trademarks. 
  
 (i) (A) Not adopt or use any mark which is confusingly similar or a colorable imitation of such Material Trademark unless the
Administrative Agent, for the ratable benefit of the Lenders, shall obtain a perfected security interest in such mark pursuant to this Security Agreement, and (B) not (and not permit any licensee or sublicensee thereof to) do any act or knowingly
omit to do any act whereby any Material Trademark may become invalidated. 
  
 (ii) Not do any act, or omit to do any act, whereby any Material Patent may become abandoned or dedicated. 
  

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 (iii) Not make any assignment or agreement in conflict with the security interest in the
Patents or Trademarks of any Obligor hereunder, except for licenses of Patents and Trademarks in the ordinary course of business. 
  
 (l) New Intellectual Property. Notify the Administrative Agent of any application for or registration of any new Intellectual
Property in accordance with the terms of Section 5.13(c) of the Credit Agreement and execute and deliver such documentation as required by the Administrative Agent with respect to such new Intellectual Property in accordance with the terms of
Section 5(a) above. 
  
 (m) Commercial Tort
Claims; Notice of Litigation. (i) Promptly forward to the Administrative Agent written notification of any and all Commercial Tort Claims of the Obligors, including, but not limited to, any and all Commercial Tort Claims of such Obligor before
any court or other Governmental Authority and (ii) execute and deliver such statements, documents and notices and do and cause to be done all such things as may be required by the Administrative Agent, or required by law, including all things which
may from time to time be necessary under the UCC to fully create, preserve, perfect and protect the priority of the Administrative Agent’s security interest in any Commercial Tort Claims. 
  
 (n) Status of Collateral as Personal Property. At all
times maintain the Collateral as personal property and not affix any of the Collateral to any real property in a manner which would change its nature from personal property to real property or a Fixture. 
  
 (o) Insurance. Insure, repair and replace the
Collateral of such Obligor as set forth in the Credit Agreement. All proceeds derived from insurance on the Collateral shall be subject to the security interest of the Administrative Agent hereunder. 
  
 6. License of Intellectual Property. The Obligors hereby assign,
transfer and convey to the Administrative Agent, effective upon the occurrence of any Event of Default, the nonexclusive right and license to use all Intellectual Property owned or used by any Obligor that relate to the Collateral and any other
collateral granted by the Obligors as security for the Secured Obligations, together with any goodwill associated therewith, all to the extent necessary to enable the Administrative Agent to use, possess and realize on the Collateral and to enable
any successor or assign to enjoy the benefits of the Collateral. This right and license shall inure to the benefit of all successors, assigns and transferees of the Administrative Agent and its successors, assigns and transferees, whether by
voluntary conveyance, operation of law, assignment, transfer, foreclosure, deed in lieu of foreclosure or otherwise. Such right and license is granted free of charge, without requirement that any monetary payment whatsoever be made to the Obligors.
Notwithstanding the terms of this Section, none of the Obligors shall be deemed to have assigned, transferred or conveyed the nonexclusive right and license to use any Intellectual Property to the extent such Intellectual Property is subject to a
contract or agreement that contains an enforceable prohibition on such assignment, transfer or conveyance. 
  

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 7. Special Provisions Regarding Inventory. Notwithstanding anything to the contrary contained in
this Security Agreement, each Obligor may, unless and until an Event of Default occurs and is continuing and the Administrative Agent instructs such Obligor otherwise, without further consent or approval of the Administrative Agent, use, consume,
sell, lease and exchange its Inventory in the ordinary course of its business as presently conducted (and as will be conducted after giving effect to the Acquisition), whereupon, in the case of such a sale or exchange, the security interest created
hereby in the Inventory so sold or exchanged (but not in any Proceeds arising from such sale or exchange) shall cease immediately without any further action on the part of the Administrative Agent. 
  
 8. Performance of Obligations; Advances by Administrative Agent. On
failure of any Obligor to perform any of the covenants and agreements contained herein, the Administrative Agent may, at its sole option and in its sole discretion, perform or cause to be performed the same and in so doing may expend such sums as
the Administrative Agent may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien or potential Lien,
expenditures made in defending against any adverse claim and all other expenditures which the Administrative Agent may make for the protection of the security interest hereof or may be compelled to make by operation of law. All such sums and amounts
so expended shall be repayable by the Obligors on a joint and several basis promptly upon timely notice thereof and demand therefor, shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at
the default rate for Revolving Loans that are Alternate Base Rate Loans set forth in Section 2.10 of the Credit Agreement. No such performance of any covenant or agreement by the Administrative Agent on behalf of any Obligor, and no such advance or
expenditure therefor, shall relieve the Obligors of any default under the terms of this Security Agreement, the other Credit Documents or any Secured Hedging Agreement. The Administrative Agent may make any payment hereby authorized in accordance
with any bill, statement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such bill, statement or estimate or into the validity of any tax assessment, sale,
forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by an Obligor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP. 
  
 9. Events of Default. 
  
 The occurrence of an event which under the Credit Agreement would constitute
an Event of Default shall be an event of default hereunder (an “Event of Default”). 
  
 10. Remedies. 
  
 (a) General Remedies. Upon the occurrence of an Event of Default and during continuation thereof, the Administrative Agent and the
Lenders shall have, in addition to the rights and remedies provided herein, in the Credit Documents, in any Secured Hedging Agreement or by law (including, but not limited to, levy of attachment, 

  

 13 

 
garnishment and the rights and remedies set forth in the Uniform Commercial Code of the jurisdiction applicable to the affected Collateral), the rights and
remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral), and further, the Administrative
Agent may, with or without judicial process or the aid and assistance of others, (i) enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Obligors, take possession of the Collateral, (ii)
dispose of any Collateral on any such premises, (iii) require the Obligors to assemble and make available to the Administrative Agent at the expense of the Obligors any Collateral at any place and time designated by the Administrative Agent which is
reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) without demand and without advertisement, notice, hearing or process of law, all of
which each of the Obligors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels,
for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Neither the Administrative Agent’s compliance with
any applicable state or federal law in the conduct of such sale, nor its disclaimer of any warranties relating to the Collateral, shall be considered to adversely affect the commercial reasonableness of such sale. In addition to all other sums due
the Administrative Agent and the Lenders with respect to the Secured Obligations, the Obligors shall pay the Administrative Agent and each of the Lenders all reasonable documented costs and expenses incurred by the Administrative Agent or any such
Lender, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or
against the Administrative Agent or the Lenders or the Obligors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising
in, arising under or related to a case under the Bankruptcy Code. Each Obligor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Company in accordance with the
notice provisions of Section 9.2 of the Credit Agreement at least 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the Lenders shall not be obligated to make any sale or other
disposition of the Collateral regardless of notice having been given. To the extent permitted by law, any Lender may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Obligors hereby waives all of its rights of
redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the Lenders may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time
and place of such sale, and such sale may, without further notice, to the extent permitted by law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the Lenders may further postpone such sale by
announcement made at such time and place. 
  

 14 

 (b) Remedies Relating to Accounts. Upon the occurrence of an Event of Default and
during the continuation thereof, whether or not the Administrative Agent has exercised any or all of its rights and remedies hereunder, the Administrative Agent shall have the right to enforce any Obligor’s rights against any account debtors
and obligors on such Obligor’s Accounts. Each Obligor acknowledges and agrees that the Proceeds of its Accounts remitted to or on behalf of the Administrative Agent in accordance with the provisions of this Section shall constitute Proceeds of
Collateral and shall be applied to the Credit Party Obligations in accordance with the terms of the Credit Agreement and that such Obligor shall not have any right, title or interest in such Proceeds except as provided in the Credit Agreement. To
the extent required by the Administrative Agent, each Obligor agrees, upon the occurrence and during the continuance of an Event of Default, to execute any document or instrument, and to take any action, necessary under applicable law (including the
Federal Assignment of Claims Act) in order for the Administrative Agent to exercise its rights and remedies (or be able to exercise its rights and remedies at some future date) with respect to any Accounts of such Obligor where the account debtor is
a Governmental Authority. The Administrative Agent and the Lenders shall have no liability or responsibility to any Obligor for acceptance of a check, draft or other order for payment of money bearing the legend “payment in full” or words
of similar import or any other restrictive legend or endorsement or be responsible for determining the correctness of any remittance. Each Obligor hereby agrees to indemnify the Administrative Agent and the Lenders and their respective officers,
directors, employees, partners, members, counsel, agents, representatives, advisors and affiliates from and against all liabilities, damages, losses, actions, claims, judgments, costs, expenses, charges and reasonable attorneys’ fees suffered
or incurred by the Administrative Agent or the Lenders (each, an “Indemnified Party”) because of the maintenance of the foregoing arrangements except as relating to or arising out of the gross negligence or willful misconduct of an
Indemnified Party or its officers, employees or agents. In the case of any investigation, litigation or other proceeding, the foregoing indemnity shall be effective whether or not such investigation, litigation or proceeding is brought by an
Obligor, its directors, shareholders or creditors or an Indemnified Party or any other Person or any other Indemnified Party is otherwise a party thereto. 
  
 (c) Access. In addition to the rights and remedies hereunder, upon the occurrence of an Event of Default and during the
continuation thereof, the Administrative Agent shall have the right to enter and remain upon the various premises of the Obligors without cost or charge to the Administrative Agent, and use the same, together with materials, supplies, books and
records of the Obligors for the purpose of collecting and liquidating the Collateral, or for preparing for sale and conducting the sale of the Collateral, whether by foreclosure, auction or otherwise. In addition, the Administrative Agent may remove
Collateral, or any part thereof, from such premises and/or any records with respect thereto, in order to effectively collect or liquidate such Collateral. If the Administrative Agent exercises its right to take possession of the Collateral, each
Obligor shall also at its expense perform any and all other steps reasonably requested by the Administrative Agent to preserve and protect the security interest hereby granted in the 

  

 15 

 
Collateral, such as placing and maintaining signs indicating the security interest of the Administrative Agent, appointing overseers for the Collateral and
maintaining inventory records. 
  
 (d)
Nonexclusive Nature of Remedies. Failure by the Administrative Agent or the Lenders to exercise any right, remedy or option under this Security Agreement, any other Credit Document, any Secured Hedging Agreement or as provided by law, or any
delay by the Administrative Agent or the Lenders in exercising the same, shall not operate as a waiver of any such right, remedy or option. No waiver hereunder shall be effective unless it is in writing, signed by the party against whom such waiver
is sought to be enforced and then only to the extent specifically stated, which in the case of the Administrative Agent or the Lenders shall only be granted as provided herein. To the extent permitted by law, neither the Administrative Agent, the
Lenders, nor any party acting as attorney for the Administrative Agent or the Lenders, shall be liable hereunder for any acts or omissions or for any error of judgment or mistake of fact or law other than their gross negligence or willful misconduct
hereunder. The rights and remedies of the Administrative Agent and the Lenders under this Security Agreement shall be cumulative and not exclusive of any other right or remedy which the Administrative Agent or the Lenders may have. 
  
 (e) Retention of Collateral. In addition to the
rights and remedies hereunder, upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent may, after providing the notices required by Sections 9-620 and 9-621 of the UCC (or any successor sections of
the UCC) or otherwise complying with the notice requirements of applicable law of the relevant jurisdiction, accept or retain all or any portion of the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent
shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason. 
  
 (f) Deficiency. In the event that the proceeds of any sale, collection or realization are
insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate for Revolving Loans that
are Alternate Base Rate Loans set forth in Section 2.10 of the Credit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining
after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto. 
  
 (g) Other Security. To the extent that any of the
Secured Obligations are now or hereafter secured by property other than the Collateral (including, without limitation, real and other personal property and securities owned by an Obligor), or by a guarantee, endorsement or property of any other
Person, then the Administrative Agent shall have the right to proceed against such other property, guarantee or endorsement upon the 

  

 16 

 
occurrence and during the continuation of any Event of Default, and the Administrative Agent shall have the right, in its sole discretion, to determine which
rights, security, Liens, security interests or remedies the Administrative Agent shall at any time pursue, relinquish, subordinate, modify or take with respect thereto, without in any way modifying or affecting any of them or any of the
Administrative Agent’s and the Lenders’ rights or the Secured Obligations under this Security Agreement, under any other of the Credit Documents or under any Secured Hedging Agreement. 
  
 11. Rights of the Administrative Agent. 
  
 (a) Power of Attorney. Each Obligor hereby designates
and appoints the Administrative Agent, on behalf of the Lenders, and each of its designees or agents, as attorney-in-fact of such Obligor, irrevocably and with power of substitution, with authority to take any or all of the following actions upon
the occurrence and during the continuation of an Event of Default: 
  
 (i) to demand, collect, settle, compromise, adjust and give discharges and releases concerning the Collateral of such Obligor, all as the Administrative Agent may reasonably determine in respect of such Collateral;

  
 (ii) to commence and prosecute any actions at
any court for the purposes of collecting any Collateral and enforcing any other right in respect thereof; 
  
 (iii) to defend, settle, adjust or compromise any action, suit or proceeding brought with respect to the Collateral and, in connection
therewith, give such discharge or release as the Administrative Agent may deem reasonably appropriate; 
  
 (iv) to receive, open and dispose of mail addressed to an Obligor and endorse checks, notes, drafts, acceptances, money orders, bills of
lading, warehouse receipts or other instruments or documents evidencing payment, shipment or storage of the goods giving rise to the Collateral of such Obligor, or securing or relating to such Collateral, on behalf of and in the name of such
Obligor; 
  
 (v) to sell, assign, transfer, make
any agreement in respect of, or otherwise deal with or exercise rights in respect of, any Collateral or the goods or services which have given rise thereto, as fully and completely as though the Administrative Agent were the absolute owner thereof
for all purposes; 
  
 (vi) to adjust and settle
claims under any insurance policy relating to the Collateral; 
  

 17 

 (vii) to execute and deliver and/or file all assignments, conveyances, statements,
financing statements, continuation financing statements, security agreements, affidavits, notices and other agreements, instruments and documents that the Administrative Agent may determine necessary in order to perfect and maintain the security
interests and Liens granted in this Security Agreement and in order to fully consummate all of the transactions contemplated herein; 
  
 (viii) to institute any foreclosure proceedings that the Administrative Agent may deem appropriate; 
  
 (ix) to execute any document or instrument, and to take any
action, necessary under applicable law (including the Federal Assignment of Claims Act) in order for the Administrative Agent to exercise its rights and remedies (or to be able to exercise its rights and remedies at some future date) with respect to
any Account of an Obligor where the account debtor is a Governmental Authority; and 
  
 (x) to do and perform all such other acts and things as the Administrative Agent may reasonably deem to be necessary, proper or convenient
in connection with the Collateral. 
  
 This power of attorney is
a power coupled with an interest and shall be irrevocable for so long as any of the Secured Obligations (other than contingent indemnity obligations that survive termination of the Credit Documents pursuant to the stated terms thereof) remain
outstanding, any Credit Document or Secured Hedging Agreement is in effect, and until all of the Commitments shall have been terminated. The Administrative Agent shall be under no duty to exercise or withhold the exercise of any of the rights,
powers, privileges and options expressly or implicitly granted to the Administrative Agent in this Security Agreement, and shall not be liable for any failure to do so or any delay in doing so. The Administrative Agent shall not be liable for any
act or omission or for any error of judgment or any mistake of fact or law in its individual capacity or its capacity as attorney-in-fact except acts or omissions resulting from its gross negligence or willful misconduct. This power of attorney is
conferred on the Administrative Agent solely to perfect, protect, preserve and realize upon its security interest in the Collateral. 
  
 (b) Assignment by the Administrative Agent. The Administrative Agent may from time to time assign the Secured Obligations or any
portion thereof and/or the Collateral or any portion thereof to a successor Administrative Agent, and the assignee shall be entitled to all of the rights and remedies of the Administrative Agent under this Security Agreement in relation thereto.

  
 (c) The Administrative Agent’s Duty of
Care. Other than the exercise of reasonable care to assure the safe custody of the Collateral while being held by the Administrative Agent hereunder, the Administrative Agent shall have no duty or liability 

  

 18 

 
to preserve rights pertaining thereto, it being understood and agreed that the Obligors shall be responsible for preservation of all rights in the
Collateral, and the Administrative Agent shall be relieved of all responsibility for the Collateral upon surrendering it or tendering the surrender of it to the Obligors. The Administrative Agent shall be deemed to have exercised reasonable care in
the custody and preservation of the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which the Administrative Agent accords its own property, which shall be no less than the treatment employed by a
reasonable and prudent agent in the industry, it being understood that the Administrative Agent shall not have responsibility for taking any necessary steps to preserve rights against any parties with respect to any of the Collateral. In the event
of a public or private sale of Collateral pursuant to Section 10 hereof, the Administrative Agent shall have no obligation to clean-up, repair or otherwise prepare the Collateral for sale. 
  
 12. Application of Proceeds. After the exercise of remedies by the
Administrative Agent or the Lenders pursuant to Section 7.2 of the Credit Agreement (or after the Commitments shall automatically terminate and the Loans (with accrued interest thereon) and all other amounts under the Credit Documents (including
without limitation the maximum amount of all contingent liabilities under Letters of Credit) shall automatically become due and payable in accordance with the terms of such Section), any proceeds of the Collateral, when received by the
Administrative Agent, any of the Lenders or any Hedging Agreement Provider in cash or its equivalent, will be applied in reduction of the Secured Obligations in the order set forth in Section 2.13(b) of the Credit Agreement, and each Obligor
irrevocably waives the right to direct the application of such payments and proceeds and acknowledges and agrees that the Administrative Agent shall have the continuing and exclusive right to apply and reapply any and all such proceeds in the
Administrative Agent’ s sole discretion, notwithstanding any entry to the contrary upon any of its books and records. 
  
 13. Costs of Counsel. If at any time hereafter, whether upon the occurrence of an Event of Default or not, the Administrative Agent employs counsel
to prepare or consider amendments, waivers or consents with respect to this Security Agreement, or to take action or make a response in or with respect to any legal or arbitral proceeding relating to this Security Agreement or relating to the
Collateral, or to protect the Collateral or exercise any rights or remedies under this Security Agreement or with respect to the Collateral, then the Obligors agree to promptly pay upon demand any and all such reasonable documented costs and
expenses of the Administrative Agent in accordance with the terms of Section 9.5 of the Credit Agreement, all of which costs and expenses shall constitute Secured Obligations hereunder. 
  
 14. Continuing Agreement. 
  

(a) This Security Agreement shall be a continuing agreement in every respect and shall remain in full force and effect so long as any
of the Secured Obligations (other than contingent indemnity obligations that survive termination of the Credit Documents pursuant to the stated terms thereof) remain outstanding, any Credit Document or Secured Hedging Agreement is in effect, and
until all of the Commitments shall have been terminated. Upon such payment and termination, this Security Agreement shall be 

  

 19 

 
automatically terminated and the Administrative Agent and the Lenders shall, upon the request and at the expense of the Obligors, forthwith release all of
the Liens and security interests granted hereunder and shall execute and/or deliver all UCC termination statements and/or other documents reasonably requested by the Obligors evidencing such termination. Notwithstanding the foregoing all releases
and indemnities provided hereunder shall survive termination of this Security Agreement. 
  
 (b) This Security Agreement shall continue to be effective or be automatically reinstated, as the case may be, if at any time payment, in
whole or in part, of any of the Secured Obligations is rescinded or must otherwise be restored or returned by the Administrative Agent or any Lender as a preference, fraudulent conveyance or otherwise under any bankruptcy, insolvency or similar law,
all as though such payment had not been made; provided that in the event payment of all or any part of the Secured Obligations is rescinded or must be restored or returned, all reasonable costs and expenses (including without limitation any
reasonable legal fees and disbursements) incurred by the Administrative Agent or any Lender in defending and enforcing such reinstatement shall be deemed to be included as a part of the Secured Obligations. 
  
 15. Amendments; Waivers; Modifications. This Security Agreement and
the provisions hereof may not be amended, waived, modified, changed, discharged or terminated except as set forth in Section 9.1 of the Credit Agreement. 
  
 16. Successors in Interest. This Security Agreement shall create a continuing security interest in the Collateral and shall be binding upon each
Obligor, its successors and assigns and shall inure, together with the rights and remedies of the Administrative Agent and the Lenders hereunder, to the benefit of the Administrative Agent and the Lenders and their successors and permitted assigns;
provided, however, that none of the Obligors may assign its rights or delegate its duties hereunder without the prior written consent of each Lender or the Required Lenders, as required by the Credit Agreement. To the fullest extent
permitted by law, each Obligor hereby releases the Administrative Agent, each Lender and any other Indemnitees, in accordance with the terms of Section 9.5 of the Credit Agreement, from any liability for any act or omission relating to this Security
Agreement or the Collateral. 
  
 17. Notices. All notices
required or permitted to be given under this Security Agreement shall be in conformance with Section 9.2 of the Credit Agreement. 
  
 18. Counterparts. This Security Agreement may be executed in any number of counterparts, each of which where so executed and delivered shall be an
original, but all of which shall constitute one and the same instrument. It shall not be necessary in making proof of this Security Agreement to produce or account for more than one such counterpart. Delivery of executed counterparts of the Security
Agreement by telecopy shall be effective as an original and shall constitute a representation that an original shall be delivered upon the request of the Administrative Agent. 
  

 20 

 19. Headings. The headings of the sections and subsections hereof are provided for convenience
only and shall not in any way affect the meaning, construction or interpretation of any provision of this Security Agreement. 
  
 20. Governing Law; Submission to Jurisdiction and Service of Process; Waiver of Jury Trial; Venue. THIS SECURITY AGREEMENT AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK
GENERAL OBLIGATIONS LAW). The terms of Sections 9.14 and 9.17 of the Credit Agreement are incorporated herein by reference, mutatis mutandis, and the parties hereto agree to such terms. 
  
 21. Severability. If any provision of this Security Agreement is
determined to be illegal, invalid or unenforceable, such provision shall be fully severable and the remaining provisions shall remain in full force and effect and shall be construed without giving effect to the illegal, invalid or unenforceable
provisions. 
  
 22. Entirety. This Security Agreement, the
other Credit Documents and the Secured Hedging Agreements represent the entire agreement of the parties hereto and thereto, and supersede all prior agreements and understandings, oral or written, if any, including any commitment letters or
correspondence relating to this Security Agreement, the other Credit Documents, the Secured Hedging Agreements or the transactions contemplated herein and therein. 
  
 23. Survival. All representations and warranties of the Obligors hereunder shall survive the execution and delivery
of this Security Agreement, the other Credit Documents and the Secured Hedging Agreements, the delivery of the Notes and the making of the Loans and the issuance of the Letters of Credit under the Credit Agreement. 
  
 24. Joint and Several Obligations of Obligors. 
  
 (a) Each of the Obligors is accepting joint and several
liability hereunder in consideration of the financial accommodations to be provided by the Lenders under the Credit Agreement, for the mutual benefit, directly and indirectly, of each of the Obligors and in consideration of the undertakings of each
of the Obligors to accept joint and several liability for the obligations of each of them. 
  
 (b) Each of the Obligors jointly and severally hereby irrevocably and unconditionally accepts, not merely as a surety but also as a
co-debtor, joint and several liability with the other Obligors with respect to the payment and performance of all of the Secured Obligations arising under this Security Agreement, the other Credit Documents and the Secured Hedging Agreements, it
being the intention of the parties hereto that all the Secured Obligations shall be the joint and several obligations of each of the Obligors without preferences or distinction among them. 
  

 21 

 (c) Notwithstanding any provision to the contrary contained herein, in any other of the
Credit Documents or in any Secured Hedging Agreement, to the extent the obligations of an Obligor shall be adjudicated to be invalid or unenforceable for any reason (including, without limitation, because of any applicable state or federal law
relating to fraudulent conveyances or transfers) then the obligations of such Obligor hereunder shall be limited to the maximum amount that is permissible under applicable law (whether federal or state and including, without limitation, the
Bankruptcy Code). 
  
 25. Rights of Required Lenders. All
rights of the Administrative Agent hereunder, if not exercised by the Administrative Agent, may be exercised by the Required Lenders. 
  

 22 

 Each of the parties hereto has caused a counterpart of this Security Agreement to be duly executed and
delivered as of the date first above written. 
  

					
	COMPANY:	 	LIONBRIDGE TECHNOLOGIES, INC.,
	 	 	 a Delaware corporation

			
	 	 	 By:
	 	 /s/ Stephen J. Lifshatz

	 	 	 Name:
	 	 Stephen J. Lifshatz

	 	 	 Title:
	 	 Vice President

		
	US GUARANTORS:	 	VERITEST, INC.,
	 	 	 a Delaware corporation

			
	 	 	 By:
	 	 /s/ Stephen J. Lifshatz

	 	 	 Name:
	 	 Stephen J. Lifshatz

	 	 	 Title:
	 	 Vice President

		
	 	 	LIONBRIDGE US, INC.,
	 	 	 a Delaware corporation

			
	 	 	 By:
	 	 /s/ Stephen J. Lifshatz

	 	 	 Name:
	 	 Stephen J. Lifshatz

	 	 	 Title:
	 	 Vice President

		
	 	 	MENTORIX TECHNOLOGIES INC.,
	 	 	 a California corporation

			
	 	 	 By:
	 	 /s/ Stephen J. Lifshatz

	 	 	 Name:
	 	 Stephen J. Lifshatz

	 	 	 Title:
	 	 Vice President

		
	 	 	 LIONBRIDGE GLOBAL SOLUTIONS COMPANIES, INC.
 f/k/a BGS COMPANIES, INC.,

	 	 	 a Delaware corporation

			
	 	 	 By:
	 	 /s/ Stephen J. Lifshatz

	 	 	 Name:
	 	 Stephen J. Lifshatz

	 	 	 Title:
	 	 Vice President

  

 1 

					
	 	 	 LIONBRIDGE GLOBAL SOLUTIONS FEDERAL, INC.
 f/k/a BOWNE GLOBAL SOLUTIONS FEDERAL, INC.,

	 	 	 a Delaware corporation

			
	 	 	 By:
	 	 /s/ Stephen J. Lifshatz

	 	 	 Name:
	 	 Stephen J. Lifshatz

	 	 	 Title:
	 	 Vice President

		
	 	 	 LIONBRIDGE GLOBAL SOLUTIONS II, INC.
 f/k/a BOWNE GLOBAL SOLUTIONS II, INC.,

	 	 	 a New York corporation

			
	 	 	 By:
	 	 /s/ Stephen J. Lifshatz

	 	 	 Name:
	 	 Stephen J. Lifshatz

	 	 	 Title:
	 	 Vice President

  
  

 2 

 Accepted and agreed to as of the date first above written. 
  

					
	 	 	WACHOVIA BANK, NATIONAL ASSOCIATION,
	 	 	 as Administrative Agent

			
	 	 	 By:
	 	 /s/ Scott C. Reeds

	 	 	 Name:
	 	 Scott C. Reeds

	 	 	 Title:
	 	 Vice President

  

 3Debenture, dated as of September 1, 2005

 EXHIBIT 10.3 
  
 Dated                    2005 
  
 LIONBRIDGE TECHNOLOGIES IRELAND 
  
 in favour of 
  
 WACHOVIA BANK, NATIONAL ASSOCIATION 
 (as Administrative Agent) 
  
 DEBENTURE 
  
 Arthur Cox 
 Solicitors 
 Earlsfort Centre 
 Earlsfort Terrace 
 Dublin 2 

 INDEX 
  

					
	 Clause

	  	Page

	 1
	  	Definitions and Interpretation	  	1
	 2
	  	Covenant to Pay	  	3
	 3
	  	Mortgage, Assignment and Charge	  	3
	 4
	  	Redemption of Security	  	7
	 5
	  	Crystallisation of Floating Charge	  	7
	 6
	  	Further Assurances	  	8
	 7
	  	Negative Pledge	  	8
	 8
	  	Statutory Consents	  	9
	 9
	  	Covenants	  	9
	 10
	  	Power of Sale	  	10
	 11
	  	Entry into Possession, Administrative Agent’s Powers and Appointment and Powers of Receiver	  	10
	 12
	  	Liability of the Administrative Agent in Possession	  	13
	 13
	  	Delegation of Powers of the Administrative Agent	  	14
	 14
	  	Application of Monies	  	14
	 15
	  	Protection of Purchasers	  	15
	 16
	  	Power of Attorney	  	15
	 17
	  	Continuing Security	  	16
	 18
	  	Avoidance of Payments	  	16
	 19
	  	Currency Indemnity	  	16
	 20
	  	Severability	  	17
	 21
	  	Assignment	  	17
	 22
	  	Certificate of the Administrative Agent	  	18

  

 1 

					
	 23
	  	No Waivers, Remedies Cumulative	  	18
	 24
	  	Costs and Expenses	  	18
	 25
	  	Notices	  	19
	 26
	  	Counterparts	  	19
	 27
	  	Governing Law and Jurisdiction	  	19
	 THE FIRST SCHEDULE
	  	22
	 THE SECOND SCHEDULE
	  	24

  

 2 

 THIS DEBENTURE
dated                 2005 
  
 BETWEEN: 
  

	(1)	LIONBRIDGE TECHNOLOGIES IRELAND a company incorporated under the laws of Ireland with registered number 144185 and having its registered office at Grattan House,
Temple Road, Blackrock, County Dublin (the “Company”) and 

  

	(2)	WACHOVIA BANK, NATIONAL ASSOCIATION having its principal place of business at Charlotte Plaza, 201 South College Street, CP-8 Charlotte, North Carolina, 28288-0680 (the
“Administrative Agent”) as security agent for the Lenders. 

  
 RECITALS: 
  

	A.	It has been agreed between the Company and the Administrative Agent (as security agent for the Lenders) and it is hereby intended that this Debenture, inter alia, shall
secure all monies, obligations and liabilities that the Company covenants to pay in Clause 2.1 of this Debenture. 

  

	B.	The Administrative Agent has agreed to enter into this Debenture as security agent for the Lenders. 

  
 THIS DEBENTURE WITNESSES as follows:- 
  
 1.    1.    Definitions and Interpretation

  

	 	1.1	In this Debenture (including the Recitals), the following expressions shall, unless the context otherwise requires, have the following meanings:- 

  

			
	“Act”	  	means the Conveyancing and Law of Property Act, 1881 as amended by the Conveyancing Acts, 1882 and 1911;
		
	“Charged Property”	  	means the undertaking and assets of the Company both present and future charged in favour of, or assigned (whether at law or in equity) to, the Administrative Agent by or pursuant to this
Debenture;
		
	“Claims”	  	means all book and other debts and monetary claims referred to in Clause 3.1 (other than those referred to in Clause 3.1(1)) or deriving from the Charged Property;
		
	“Credit Agreement”	  	means the credit agreement dated on or about the date of this charge by and among Lionbridge Technologies, Inc (the “U.S. Borrower”), Lionbridge Technologies
Holdings, B.V. (a “Dutch Borrower”) and the Company (the “Irish Borrower”) (collectively known as (the “Borrowers”), the U.S. Guarantors (as therein
defined), the Foreign Guarantors (as therein defined), the Lenders (as therein defined) and Wachovia Bank, National Association (as Administrative Agent).

  

 1 

			
	“Event of Default”	  	has the meaning given to that term in the Credit Agreement;
		
	“Examiner”	  	means an examiner appointed under Section 2 of the Companies (Amendment) Act, 1990;
		
	“Fixed Charge Property”	  	means the assets of the Company described in Clauses 3.1(a) to (j) inclusive;
		
	“Floating Charge”	  	means the floating charge created by Clauses 3.1(k) to 3.l(m) inclusive;
		
	“Floating Charge Property”	  	means the assets of the Company described in Clauses 3.1(k) to 3.1(m) inclusive;
		
	“Insurances”	  	means all contracts and policies of insurance (including, for the avoidance of doubt, all cover notes) of whatever nature which are, from time to time, taken out by or on behalf of the
Company or (to the extent of such interest) in which the Company has an interest;
		
	“Intellectual Property”	  	means all that property and assets referred to in Clause 3.1(i) and each and every part thereof;
		
	“Planning Acts”	  	means the Local Government (Planning and Development) Acts 1963 to 1999, the Building Control Act, 1990, the Planning and Development Acts, 2000 to 2004 and any regulations issued pursuant
thereto;
		
	“Real Property”	  	means all that property referred to in Clauses 3.1(a) to 3.1(c) inclusive;
		
	“Receiver”	  	means any one or more receivers and/or managers appointed by the Administrative Agent in respect of the Company or over all or any part of the Charged Property;
		
	“Secured Obligations”	  	means all Foreign Credit Party Obligations of the Chargor;
		
	“Security”	  	means the security from time to time constituted by or pursuant to this Debenture and each and every part thereof;
		
	 “Security Period”
	  	means the period from the date hereof until the date upon which all of the Secured Obligations have been unconditionally and irrevocably paid and discharged in full and all Commitments with
respect thereto have been terminated or upon which all of the Security shall have been unconditionally and irrevocably released and discharged.

  

 2 

	 	1.2	Words and expressions defined in the Credit Agreement shall, unless the context otherwise requires, have the same meanings when used in this Debenture. 

  

	 	1.3	Except to the extent that the context requires otherwise any reference in this Debenture to: 

  

	 	(a)	this Debenture or any other agreement or document shall be construed as a reference to this Debenture or, as the case may be, such other agreement or document as the same may have
been, or may from time to time be amended, varied, novated or supplemented; 

  

	 	(b)	any statute shall include any order made or regulation issued thereunder, any statutory modification or re-enactment thereof from time to time and force, and unless otherwise stated
any reference to a statute shall be a reference to a statute of Ireland; 

  

	 	(c)	a time of day shall be construed as a reference to Dublin time; 

  

	 	(d)	the parties intend that this document shall take effect as a Deed; and 

  

	 	(e)	words importing the plural shall include the singular and vice versa. 

  

	 	1.4	Clause, part and schedule headings are for ease of reference only. 

  

	2.	Covenant to Pay 

  

	 	2.1	For good and valuable consideration (receipt of which is hereby acknowledged) the Company hereby unconditionally covenants to pay or discharge all of the Secured Obligations
forthwith on demand being made on it by the Administrative Agent when the Secured Obligations are due for payment or discharge in accordance with the Credit Agreement. 

  

	 	2.2	A certificate signed by a duly authorised officer of the Administrative Agent setting forth the amount of any sum due hereunder shall, in the absence of manifest error, be prema
facie evidence against the Company of the amount due. 

  

	3.	Mortgage, Assignment and Charge 

  

	 	3.1	The Company as beneficial owner, as continuing security for the payment, performance and discharge of the Secured Obligations, hereby:- 

  

	 	(a)	grants, conveys, transfers, demises, charges and mortgages to the Administrative Agent ALL THAT AND THOSE the freehold and leasehold property of the Company both present and
future (including specifically, but not limited to, the lands, hereditaments and premises specified in Part A of the First Schedule) and all buildings and (to the extent the same are not otherwise subject to a fixed charge hereunder) all fixtures
(including trade fixtures) from time to time on every such property and all fixed plant and machinery of the Company both present and future therein or thereon to hold the same as to so much 

  

 3 

	 	 	thereof as is of freehold tenure unto the Administrative Agent in fee simple and as to so much thereof as is of leasehold tenure unto the Administrative Agent for the residue of the
respective terms of years for which the Company now or, as applicable at the time of acquisition, then holds the same less the last three days of each such term, subject to the proviso for redemption herein contained PROVIDED that the Company hereby
declares that it shall henceforth stand possessed of such of the said property as is of leasehold tenure for the last day or respective last days of the term or terms or years for which the same is held by it, and for any further or other interest
which it now has or may hereafter acquire or become entitled to in the same or any part thereof by virtue of any Act or Acts of the Oireachtas or otherwise howsoever, in trust for the Administrative Agent and to be conveyed assigned or otherwise
dealt with whether to the Administrative Agent or its nominee or otherwise as the Administrative Agent shall direct (such direction to be given only when an Event of Default has occurred that is continuing) but subject to the same equity of
redemption as may for the time being be subsisting in the said property, and PROVIDED FURTHER that the Company doth hereby irrevocably appoint the secretary for the time being of the Administrative Agent to be its attorney, in its name and on its
behalf, and as its act and deed to sign seal and deliver and otherwise perfect when an Event of Default has occurred that is continuing every or any Deed of Conveyance of the leasehold reversion which may be desired by the Administrative Agent, in
order to vest in the Administrative Agent or in any person or persons in trust as agent for the Administrative Agent, subject as aforesaid, or in any purchaser of the said property or any part thereof, the said leasehold reversion and any further or
other interest which the Company now has or may hereafter acquire or become entitled to in the said leasehold premises or any part thereof by virtue of any Act or Acts of the Oireachtas or otherwise howsoever; 

  

	 	(b)	as registered owner or, as the case may be, person entitled to be registered as owner, charges to the Administrative Agent ALL THAT AND THOSE the freehold and
leasehold lands, hereditaments, premises and property of the Company registered under the Registration of Title Act, 1964 both present and future (including, specifically, but not limited to, the lands, hereditaments and premises specified in Part B
of the First Schedule) together with all buildings and (to the extent the same are not otherwise subject to a fixed charge hereunder) all fixtures (including trade fixtures) from time to time on every such property and all fixed plant and machinery
both present and future therein with the payment performance and discharge of the Secured Obligations; 

  

	 	(c)	charges to the Administrative Agent all its other estate, right, title or interests in any land or buildings now belonging to the Company (including, specifically, but not limited
to, the lands, hereditaments and premises specified in the First Schedule) (whether or not the legal 

  

 4 

	 	 	estate is vested in the Company or registered in the name of the Company), and all future estate, right, title or interests of the Company in such lands, hereditaments and premises
and in any other freehold or leasehold property (whether or not registered) vested in or held by or on behalf of the Company from time to time and/or the proceeds of sale thereof together in all cases (to the extent the same are not otherwise
subject to a fixed charge hereunder) all fixtures (including trade fixtures) and all fixed plant and machinery from time to time therein with the payment performance and discharge of the Secured Obligations; 

  

	 	(d)	charges to the Administrative Agent the benefit of all present and future licences, permissions, consents and authorisations (statutory or otherwise) held by the Company in
connection with its business or the use of any of the Real Property and the right to recover and receive all compensation which may at any time become payable to it in respect thereof to the extent permitted by the terms of such licences;

  

	 	(e)	charges to the Administrative Agent all plant, machinery, equipment, goods and chattels now or hereafter belonging to the Company together with all and any machines, equipment,
goods, components, parts or other items whatsoever from time to time installed therein or used in replacement or by way of substitution for all or any part thereof, together with the full benefit of the insurances on the same with the payment
performance and discharge of the Secured Obligations; 

  

	 	(f)	charges, assigns and agrees to assign to the Administrative Agent all rights and claims to which the Company is now or may hereafter become entitled in relation to the freehold,
leasehold or immovable property and the moveable property and other chattels mortgaged or charged hereunder including, without limitation, those against any manufacturer, supplier, or installer of such property, any builder, contractor or
professional advisor engaged in relation to such property and any lessee, sub-lessee or licensee of any freehold, leasehold or immovable property mortgaged or charged hereunder and any guarantor or surety for the obligations of such person and, to
the extent that any of the moveable property or other chattels mortgaged or charged hereunder is now or is at any time hereafter hired, leased or rented to any other person, the rights under the hiring, leasing or rental contract and any guarantee,
indemnity or security for the performance of the obligation of such person and any other rights and benefits relating thereto; 

  

	 	(g)	charges, assigns and agrees to assign to the Administrative Agent all present and future rights, interest, title and benefit of the Company to and in the proceeds of any Insurances
in which the Company may now or hereafter have an interest; 

  

	 	(h)	charges, assigns and agrees to assign to the Administrative Agent all present and future uncalled capital of the Company and all rights and claims to which the Company is now or may
hereafter become entitled as a result of any calls made in relation thereto; 

  

 5 

	 	(i)	charges to the Administrative Agent all letters patent, trade marks, service marks, designs, utility models, copyrights, design rights, applications for registration of any of the
foregoing and rights to apply for them in any part of the world, inventions, confidential information, know how and the rights of like nature arising or subsisting anywhere in the world in relation to any of the foregoing, whether registered or
unregistered, now or at any time hereafter belonging to the Company (including, without limitation, any rights and interests of the Company in those patent and trademarks in the Second Schedule) and the benefit of all licences and other rights to
use such of the same charged in favour of, or assigned (whether at law or in equity) to, the Administrative Agent by or pursuant to this Debenture (the “Intellectual Property Rights”). To the extent that a fixed charge is not
created hereunder over any of the Intellectual Property Rights, the charge thereof purported to be effected by this Clause 3.1(i) shall operate as an assignment of any and all damages, compensation, remuneration, profit, rent or income which the
Company may derive therefrom or be awarded or entitled to in respect thereof, as continuing security for the payment, discharge and performance of the Secured Obligations; 

  

	 	(j)	charges to the Administrative Agent all goodwill (including all brand names not otherwise subject to a fixed charge or assignment by or pursuant to this Debenture) now or at any
time hereafter belonging to the Company; 

  

	 	(k)	charges, assigns and agrees to assign to the Administrative Agent all book and other debts, revenues and claims both present and future now or at any time hereafter due or owing or
purchased or enjoyed by the Company (excluding for the purposes of this Clause 3.1(k) only, any debts or claims referred by, or in respect of, any monies standing to the credit of the Company’s bank accounts) and the full benefit of all rights
and remedies relating thereto, including, without limitation, all negotiable and non-negotiable instruments, guarantees, indemnities, rights of tracing and security interests, all things in action which may give rise to a debt, revenue or claim and
all other rights and remedies of whatever nature in respect of the same; 

  

	 	(1)	charges, assigns and agrees to assign to the Administrative Agent all present and future bank accounts of the Company (howsoever designated) with any bank or other financial
institutions (including the Administrative Agent) and all monies now or at any time hereafter standing to the credit thereof and all entitlements to interest and other rights and benefits accruing thereto or arising in connection with any such
monies; 

  

	 	(m)	charges to the Administrative Agent all of the Company’s stock-in-trade, inventory and raw materials together with the whole of the 

  

 6 

	 	 	Company’s undertaking and property, assets and rights whatsoever and wheresoever both present and future other than any assets for the time being effectively charged to the
Administrative Agent by way of fixed charge or effectively assigned (whether at law or in equity) to the Administrative Agent or otherwise subject to an effective fixed security in favour of the Administrative Agent. 

  

	 	3.2	The mortgages and charges hereby created shall: 

  

	 	(a)	as regards the Fixed Charge Property, be first fixed mortgages and charges; and 

  

	 	(b)	as regards the Floating Charge Property, be a first floating charge. 

  

	 	3.3	Anything herein to the contrary notwithstanding (i) the Company shall remain liable under any contracts, agreements and other documents included in the Charged Property (to the
extent set forth therein) to perform all of its duties and obligations thereunder to the same extent as if this Debenture had not been executed, (ii) the exercise by the Administrative Agent of any of the rights hereunder shall not release the
Company from any of its duties or obligations under such contracts, agreements and other documents and (iii) the Administrative Agent shall not have any obligation or liability under any such contracts, agreements or other documents included in the
Charged Property by reason of this Debenture, nor shall the Administrative Agent be obligated to perform any of the obligations or duties of the Company thereunder or to take any action to collect or enforce any such contract, agreement or other
document. 

  

	4.	Redemption of Security 

  
 Subject to Clause 18 (Avoidance of Payments) upon and subject to the Company ceasing to have any liability (whether actual or contingent) to the
Administrative Agent in respect of the Secured Obligations, promptly thereafter and at the request and cost of the Company, the Administrative Agent shall (but subject to the rights and claims of any person having prior rights thereto) reassign the
property and assets assigned to the Administrative Agent by or pursuant to this Debenture and release or otherwise discharge the Security. 
  

	5.	Crystallisation of Floating Charge 

  

	 	5.1	The Administrative Agent may at any time: 

  

	 	(a)	when an Event of Default has occurred that is continuing; and 

  

	 	(b)	if the Administrative Agent has reasonable grounds for believing that all or a substantial part of the Floating Charge Property is in danger of being seized or sold under any form
of distress or execution levied or threatened or to be otherwise in jeopardy, 

  

 7 

	 	 	by notice in writing to the Company convert the Floating Charge with immediate effect into a fixed charge as regards any property or assets specified in the notice.

  

	 	5.2	Notwithstanding Clause 5.1 and without prejudice to any rule of law which may have a similar effect, the Floating Charge shall automatically be converted with immediate effect into
a fixed charge as regards all the assets subject to the Floating Charge and without notice from the Administrative Agent to the Company on: 

  

	 	(a)	the cessation by the Company of carrying on its business; 

  

	 	(b)	the presentation of a petition for the compulsory winding up of the Company; 

  

	 	(c)	the passing of a resolution for the voluntary winding up of the Company; 

  

	 	(d)	the presentation of a petition to appoint an Examiner to the Company; and 

  

	 	(e)	the creation or attempted creation of any Lien over all or any part of the Floating Charge Property without the prior consent in writing of the Administrative Agent or the levying
or attempted levying by any person of any distress, execution, sequestration or other process against any of the Floating Charge Property. 

  

	6.	Further Assurances 

  
 The Company shall take all such action: 
  

	 	6.1	reasonably requested by the Administrative Agent to perfect, protect and maintain the security intended to be conferred on the Administrative Agent by or pursuant to this Debenture;
and 

  

	 	6.2	to make all such filings and registrations necessary in connection with the creation, perfection, protection or maintenance of any security created in connection herewith.

  

	7.	Negative Pledge 

  

	 	7.1	The Company undertakes that at no time during the Security Period will it create, grant, extend or permit to subsist or arise any Lien other than Permitted Liens on or over all or
any part of the Charged Property. 

  

	 	7.2	The Company undertakes that, except to the extent otherwise permitted under the Credit Agreement or this Debenture, at no time during the Security Period will it sell, convey,
transfer, assign or otherwise dispose of all or any part of the Charged Property or agree to do any of the foregoing. 

  

	 	7.3	Notwithstanding Clause 7.2 but subject always to Clause 7.1, the Company may sell, transfer or otherwise dispose of or deal with all or any part of its undertaking and assets for
the time being subject to the Floating Charge in the ordinary and usual course of, and for the purposes of, the Company’s business. 

  

 8 

	 	7.4	The foregoing provisions of this Clause 7 shall not be construed as limiting any powers exercisable by any Receiver appointed by the Administrative Agent under or pursuant to this
Debenture. 

  

	8.	Statutory Consents 

  
 The Company hereby assents and consents to the registration as burdens on the folio of any registered land of which it is the registered owner or, as
applicable, the person entitled to be registered as registered owner as well as on the folio of any further registered lands of which it may from time to time become the registered owner or, as applicable, the person entitled to be registered as
registered owner, of: 
  

	 	8.1	the first ranking fixed mortgage and charge created by this Debenture on the said land; 

  

	 	8.2	on crystallisation of the floating charge created by this Debenture on the said land, such crystallised floating charge; and 

  

	 	8.3	the power of any Receiver appointed under this Debenture to charge the said land. 

  

	9.	Covenants 

  

	 	9.1	The Company hereby covenants with the Administrative Agent that during the continuance of the Security it shall:- 

  

	 	(a)	remain the legal and beneficial owner of the Fixed Charge Property free from Liens other than Permitted Liens; 

  

	 	(b)	deal with the Floating Charge Property only to the extent permitted by Clause 7 and it shall not create or permit to subsist any Liens on the Floating Charge Property other than
Permitted Liens; 

  

	 	(c)	ensure that all of the Charged Property is and at all times remains free from any restriction which is likely to affect the exercise by the Administrative Agent of its rights and
entitlements hereunder; 

  

	 	(d)	within thirty days after receipt by the Company of any application, requirement, order or notice served or given by any public or local or any other authority with respect to all
the Charged Property (or any material part thereof), give written notice thereof to the Administrative Agent and also (within seven days after demand) produce the same or a copy thereof to the Administrative Agent and inform it of the steps taken or
proposed to be taken to comply with any such requirement thereby made or implicit therein; 

  

	 	(e)	duly and punctually perform and observe all its material obligations in connection with the Charged Property under any present or future statute or any regulation, order or notice
made or given thereunder; 

  

 9 

	 	(f)	otherwise than as permitted herein not do or cause or permit to be done anything which may in any way, jeopardise or otherwise prejudice, to an extent which in the opinion of the
Administrative Agent (reasonably held) is material, the security hereby created; and 

  

	 	(g)	in the case of default by the Company in the performance of any of the covenants contained in this Clause 9.1 it shall be lawful for (but not obligatory upon) the Administrative
Agent to do whatever may in the Administrative Agent’s opinion be necessary to make good such default, and all reasonable sums expended by the Administrative Agent in that behalf shall be added to the monies hereby secured and bear interest
accordingly. 

  

	10.	Power of Sale 

  

	 	10.1	Section 20 of the Act shall not apply to this Debenture. On or at any time after the occurrence of an Event of Default that, is continuing, the Administrative Agent may exercise
without further notice to the Company and without the restrictions contained in the Act and whether or not it shall have appointed a Receiver, all the powers conferred on mortgagees by the common law and the Act as varied or extended by this
Debenture and all the powers and discretions hereby conferred either expressly or by reference on a Receiver. 

  

	 	10.2	Notwithstanding any provisions contained in this Debenture, the Secured Obligations shall be deemed for the purposes of Section 19 of the Act to have become due and payable within
the meaning of Section 19 of the Act and the power of sale and other powers conferred on mortgagees by the Act as varied or extended by this Debenture shall arise immediately on execution of this Debenture but the Administrative Agent shall not
exercise the power of sale until there is an Event of Default that is continuing or a Receiver has been appointed. 

  

	 	10.3	The restriction on the right of consolidating mortgage securities which is contained in Section 17 of the Act shall not apply to this Debenture. 

  

	11.	Entry into Possession, Administrative Agent’s Powers and Appointment and Powers of Receiver 

  

	 	11.1	When Event of Default has occurred that is continuing or if requested by the Company, the Administrative Agent may, without notice to the Company, appoint any person to be a
Receiver of all or any part of the Charged Property and may, except as otherwise required by statute, remove any such Receiver and appoint another in his place or appoint another person to act jointly with any such Receiver.

  

	 	11.2	Such an appointment over part only of the Charged Property shall not preclude the Administrative Agent from making any subsequent appointment of the same or another Receiver over
any part of the Charged Property over which an appointment has not been previously made. 

  

 10 

	 	11.3	Where more than one Receiver is appointed they shall have power to act severally unless the Administrative Agent shall in the appointment specify to the contrary.

  

	 	11.4	A Receiver shall be deemed at all times and for all purposes to be the agent of the Company in respect of which he is appointed and the Administrative Agent shall not incur any
liability in respect of any contacts, engagements, acts, omissions, defaults or losses of the Receiver or for liabilities incurred by him or for any misconduct by him or for his remuneration (either to the Company or to any other person whatsoever)
by reason of its making his appointment as such Receiver or its having made or given any regulation or direction to such receiver or for any reason whatsoever except in the case of fraud, gross negligence or willful misconduct.

  

	 	11.5	Neither the Administrative Agent nor any Receiver shall be liable to account as a mortgagee in possession in respect of all or any part of the Charged Property or be liable for any
loss upon realisation in connection with all or any part of the Charged Property to which a mortgagee in possession might as such be liable except in the case of fraud, gross negligence or willful misconduct. 

  

	 	11.6	The restrictions contained in Section 24(1) and 24(6) of the Act shall not apply to this Debenture. 

  

	 	11.7	A Receiver shall have all the powers conferred from time to time on receivers by statute and in the case of the powers conferred by the Act without the restrictions contained in
such Act and, in addition, power on behalf and at the cost of the Company (notwithstanding liquidation of the Company) to do or omit to do anything which the Company could do or omit to do in relation to the Charged Property or any part thereof and
in particular (but without limitation) a Receiver shall have the power to do all or any of the following: 

  

	 	(a)	enter upon, take possession of, collect and get in all or any of the Charged Property, defend or discontinue any proceedings (including, without limitation, proceedings for the
winding up of the Company) or submit to arbitration in the name of the Company or otherwise as may seem expedient to him; 

  

	 	(b)	carry on, manage, develop, reconstruct, amalgamate or diversify the business of the Company or any part thereof or concur in so doing, lease or otherwise acquire and develop or
improve properties or other assets without being responsible for loss or damage; 

  

	 	(c)	raise or borrow any money (including money for the completion with or without modification of any building in the course of construction and any development or project in which the
Company was engaged) from or incur any other liability to the Administrative Agent or others on such terms with or without security as he may think fit and so that any such security may be or include a charge on the whole or any part of the Charged
Property ranking in priority to this security or otherwise; 

  

 11 

	 	(d)	sell by public auction or private contract, let, surrender or accept surrenders, grant licences or otherwise dispose of or deal with all or any of the Charged Property or concur in
so doing in such manner for such consideration and generally on such terms and conditions as he may think fit (including, without limitation, conditions excluding or restricting the personal liability of the Receiver or the Administrative Agent)
with full power to convey, let, surrender, accept surrenders or otherwise transfer or deal with such Charged Property in the name and on behalf of the Company or otherwise and so that the covenants and contractual obligations may be granted and
assumed in the name of and so as to bind the Company if he shall consider it necessary or expedient so to do; any such sale, lease or disposition may be for cash, debentures or other obligations, shares, stock, securities or other valuable
consideration and be payable immediately or by instalments spread over such period as he shall think fit and so that any consideration received or receivable shall ipso facto forthwith be and become charged with the payment of all Secured
Obligations; plant, machinery and fixtures may be severed and sold separately from the premises containing them and the Receiver may apportion any rent and the performance of any obligations affecting the premises sold without the consent of the
Company; 

  

	 	(e)	make any arrangement or compromise or enter into or cancel any contracts which he shall think expedient; 

  

	 	(f)	make and effect such repairs, renewals and improvements to the Charged Property or any part thereof as he may reasonably think fit and maintain, renew, take out or increase
insurances including, without limitation, indemnity insurance; 

  

	 	(g)	appoint managers, agents, officers, and employees for any of such purposes or to guard or protect the Charged Property at such salaries and commissions and for such periods and on
such terms as he may reasonably determine and dismiss the same; 

  

	 	(h)	without any consent or notice by or to the Company, exercise for and on behalf of the Company and in the name of the Company all powers and rights of the Company relevant to and
necessary to effect the registration in the Land Registry of the crystallisation of the Floating Charge and/or the appointment of a Receiver hereunder; 

  

	 	(i)	settle, arrange, compromise and submit to arbitration any accounts, claims, questions or disputes whatsoever which may arise in connection with the business of the Company or the
Charged Property or any part thereof or in any way relating to the Security, bring, take, defend, compromise, submit to and discontinue any actions, suits, arbitrations or proceedings whatsoever whether civil or criminal in relation to the matters
aforesaid, enter into, complete, disclaim, abandon or disregard, determine or rectify all or any of the outstanding contracts or arrangements of the Company in any way relating to or affecting the Charged Property or any part thereof and allow time
for payment of any debts either with or without security as he shall think expedient; 

  

 12 

	 	(j)	redeem any prior encumbrance and settle and agree the accounts of the encumbrancer; any accounts so settled and agreed shall (subject to any manifest error) be conclusive and
binding on the Company and the money so paid shall be deemed an expense properly incurred by the Receiver; 

  

	 	(k)	generally, at his option, use the name of the Company in the exercise of all or any of the powers hereby conferred; 

  

	 	(l)	sell any Intellectual Property hereby mortgaged or charged or assigned in consideration of a royalty or other periodical payment; 

  

	 	(m)	exercise, or permit the Company or any nominees of the Company to exercise, any powers or rights incidental to the ownership of the Charged Property or any part thereof in such
manner as he may think reasonably fit; 

  

	 	(n)	sign any document, execute any deed and do all such other lawful acts and things as may be considered by him to be incidental or conducive to any of the matters or powers aforesaid
or to the realisation of the Administrative Agent’s security and use the name of the Company for all the above purposes. 

  

	 	11.8	A Receiver shall be entitled to reasonable remuneration at a rate to be fixed by agreement between him and the Administrative Agent (or, failing such agreement, to be fixed by the
Administrative Agent). 

  

	12.	Liability of the Administrative Agent in Possession 

  

	 	12.1	If the Administrative Agent or any Receiver appointed by the Administrative Agent or any such delegate (or sub-delegate) as aforesaid shall enter into possession of the Charged
Property or any part thereof, the Administrative Agent may, from time to time at pleasure, go out of such possession. 

  

	 	12.2	The Administrative Agent shall not, in any circumstances either by reason of any entry by it into, or taking by it of possession of, the Charged Property or any part thereof or for
any other reason whatsoever and whether as mortgagee in possession or on any other basis whatsoever, be liable to account to the Company for anything except the Administrative Agent’s own actual receipts or be liable to the Company for any loss
or damage arising from any realisation by the Administrative Agent of the Charged Property or any part thereof or from any act, default or omission of the Administrative Agent in relation to the Charged Property or any part thereof or from any
exercise or non-exercise by the Administrative Agent of any power, authority or discretion conferred upon it in relation to the Charged Property or any part thereof by or pursuant to this Debenture or by the Act unless such loss or damage shall be
caused by the Administrative Agent’s own fraud, gross negligence or wilful misconduct. 

  

 13 

	 	12.3	All the provisions of Clause 12.2 shall apply in respect of the liability of any Receiver of the Charged Property or any part thereof and in respect of the liability of any such
delegate (or sub-delegate) as aforesaid in all respects as though every reference in Clause 12.2 to the Administrative Agent were instead a reference to such Receiver or (as the case may be) to such delegate (or sub-delegate).

  

	 	12.4	The Company shall indemnify the Administrative Agent and every Receiver against all actions, claims, demands, losses, expenses or liabilities of whatever nature now or hereafter
reasonably incurred by them or by any officer, agent or employee for whose liability act or omission they or any of them may be answerable for anything done or omitted in the lawful exercise or purported exercise of the powers herein contained or
occasioned by any breach by the Company of any of its covenants or other obligations herein unless such loss or damage shall be caused by the Administrative Agent’s or the Receiver’s own fraud, gross negligence or wilful misconduct.

  

	13.	Delegation of Powers of the Administrative Agent 

  
 The Administrative Agent may, at any time when an Event of Default has occurred that is continuing, delegate by power of attorney or in any other manner
(including, without limitation, under the hand of any officer of the Administrative Agent) to any person or persons or company or fluctuating body of persons all or any of the powers, authorities and discretions which are, for the time being,
exercisable by the Administrative Agent under this Debenture or under the Act in relation to the Charged Property or any part thereof, and any such delegation may be made upon such terms and conditions (including power to sub-delegate) and subject
to such regulations as the Administrative Agent may think reasonably fit. 
  

	14.	Application of Monies 

  

	 	14.1	All money arising from the exercise of the powers of enforcement of the Security or as a consequence of holding the Security shall be applied, after the discharge of all sums,
obligations and liabilities having priority thereto, in the following manner and order:- 

  

	 	(a)	in or towards payment of all reasonable costs, charges and expenses of and incidental to the appointment of any Receiver hereunder and his remuneration; 

  

	 	(b)	in payment and discharge of any liabilities reasonably incurred or payable by the Receiver whether on his own account or on behalf of the Company in the lawful exercise of any of
the powers of the Receiver including the costs of realisation of the Charged Property or any part thereof in respect of which he was appointed; 

  

	 	(c)	in or towards payment of all such costs, charges, losses expenses and other sums as are mentioned in Clause 25 (Costs and Expenses) and interest thereon;

  

 14 

	 	(d)	in or towards payment or discharge of the Secured Obligations in such order as the Administrative Agent in its absolute discretion may from time to time determine; and

  

	 	(e)	in payment of any surplus to the Company or other persons entitled thereto. 

  

	 	14.2	All monies from time to time received by the Administrative Agent from the Company or any person or persons or company liable to pay the same or from any Receiver or otherwise on
the realisation or enforcement of the Security may be applied by the Administrative Agent either as a whole or in such proportions as the Administrative Agent shall think fit to any account or item of account or any transaction to which the same may
be applicable. 

  

	 	14.3	The provisions of Clause 14.1 shall take effect as and by way of variation to the provisions of Section 24(8) of the Act which provisions as so varied and extended shall be deemed
incorporated herein as if they related to a receiver of the Charged Property and not merely a receiver of the income thereof. 

  

	15.	Protection of Purchasers 

  

	 	15.1	No purchaser, mortgagor, mortgagee or other person or company dealing with a Receiver or the Administrative Agent shall be concerned to enquire whether any Event of Default has
occurred or whether any power exercised or purported to be exercised by him or it has become exercisable or whether any money is due on the security hereof or as to the propriety or regularity of any sale by or other dealing with such Receiver or
the Administrative Agent but any such sale or dealing shall be deemed to be within the powers hereby conferred and to be valid and effectual accordingly and all the protection to purchasers contained in Sections 21 and 22 of the Act shall apply to
any person purchasing from or dealing with a Receiver or the Administrative Agent. 

  

	 	15.2	The receipt of the Administrative Agent or any Receiver shall be an absolute and conclusive discharge to a purchaser and shall relieve him of any obligation to see to the
application of any moneys paid to or by the direction of the Administrative Agent or any Receiver. 

  

	 	15.3	In Clause 15.1 and 15.2 “purchaser” includes any person acquiring for money or money’s worth, any lease of, or encumbrance over, or any other interest or right
whatsoever in relation to, the Charged Property. 

  

	16.	Power of Attorney 

  
 The Company hereby by way of security for the performance of its obligations under this Debenture irrevocably appoints the Administrative Agent, each and
every person to whom the Administrative Agent from time to time shall have delegated the exercise of the power of attorney conferred by this Clause 16 and any Receiver and each of them jointly and also severally to be the attorney of the Company
(with full powers of substitution and delegation) and in its name or otherwise and on its behalf and as its act and deed to sign, seal, execute, deliver, perfect and do all deeds, instruments, acts 
  

 15 

 and things which the Company may or ought to do under the covenants and provisions contained in this
Debenture and generally in its name and on its behalf to exercise all or any of the lawful powers, authorities and discretions conferred by or pursuant to this Debenture or by any statute or common law on the Administrative Agent or any Receiver or
which may be required or which the Administrative Agent or any Receiver shall deem fit for carrying any sale, lease, charge, mortgage or dealing by the Administrative Agent or by any Receiver into effect or for giving to the Administrative Agent or
any Receiver the full benefit of these presents and generally to use the name of the Company in the exercise of all or any of the lawful powers, authorities or discretions conferred on the Administrative Agent or any Receiver and the Company hereby
ratifies and confirms and agrees to ratify and confirm whatsoever any such attorney shall lawfully do or purport to do by virtue of this Clause 16 and all money expended by any such attorney shall be deemed to be expenses incurred by the
Administrative Agent hereunder. Provided that the power of attorney conferred by this Clause 16 shall only be exercised when an Event of Default has occurred that is continuing. 
  

	17.	Continuing Security 

  
 The Security shall be a continuing security for the Secured Obligations and shall not be considered as satisfied or discharged by any intermediate payment
or settlement of the whole or any part of the Secured Obligations but shall constitute and be a continuing security for the Secured Obligations notwithstanding any settlement of account or other matter whatsoever and is in addition to and shall not
merge with or otherwise prejudice or affect any contractual or other right or remedy or any guarantee, lien, pledge, bill, note, mortgage or other security (whether created by the deposit of documents or otherwise) now or hereafter held by or
available to the Administrative Agent for or in respect of the Secured Obligations or any other obligations whatsoever and shall not be in any way prejudiced or affected thereby or by the invalidity thereof or by the Administrative Agent now or
hereafter dealing with, exchanging, releasing, varying or abstaining from perfecting or enforcing any of the same or any rights which it may now or hereafter have or giving time for payment or indulgence or compounding with any other person liable.

  

	18.	Avoidance of Payments 

  
 No assurance, security or payment which may be avoided or adjusted under any applicable law, and no release, settlement or discharge given or made by the
Administrative Agent or any Receiver on the faith of any such assurance, security or payment, shall prejudice or affect the right of the Administrative Agent or any Receiver to recover from the Company (including any moneys which it may be compelled
by due process of law to refund pursuant to the provisions of any law relating to liquidation, bankruptcy, insolvency or creditors’ rights generally and any reasonable costs payable by it to or otherwise incurred in connection with such
process) or to enforce the security created by or pursuant to this Debenture to the full extent of the Secured Obligations. 
  

	19.	Currency Indemnity 

  

	 	19.1	If any sum due from the Company under this Debenture or any order or judgment given or made in relation hereto has to be converted from the 

  

 16 

	 	 	currency (the “first currency”) in which the same is payable hereunder or under such order or judgment into another currency (the “second currency”)
for the purpose of: 

  

	 	(a)	making or filing a claim or proof against the Company; or 

  

	 	(b)	obtaining an order or judgment in any court or other tribunal; or 

  

	 	(c)	enforcing any such order or judgment; or 

  

	 	(d)	applying the same in satisfaction of any of the Secured Obligations, 

  
 the Company agrees to indemnify and hold harmless the Administrative Agent from and against any loss suffered as a result of any discrepancy between:

  

	 	(i)	the rate of exchange used for such purpose to convert the sum in question from the first currency into the second currency; and 

  

	 	(ii)	the rate or rates of exchange at which the Administrative Agent is able to purchase the first currency with the second currency upon receipt of a sum paid to it in satisfaction, in
whole or in part, of any such order, judgment, claim or proof or for application in satisfaction of the Secured Obligations. 

  

	 	19.2	The rate or rates of exchange referred to in Clause 19.1 shall be determined by the Administrative Agent in accordance with applicable market practice and the Administrative
Agent’s certificate as to the amount of any such rate shall be conclusive, save in the case of manifest error. 

  

	20.	Severability 

  
 If at any time any one or more of the provisions hereof is or becomes invalid, illegal or unenforceable in any respect under any law or regulation, such
illegality, invalidity or unenforceability shall not affect the legality, validity or enforceability of the remaining provisions or the effectiveness of any of the remaining security constituted by this Debenture under such law. 
  

	21.	Assignment 

  

	 	21.1	This Debenture shall be binding upon and inure to the benefit of each of the parties and their respective successors and permitted assigns and references in this Debenture to any of
them shall be construed accordingly. 

  

	 	21.2	The Company may not assign or transfer all or any of its rights, benefits or obligations under this Debenture. The Administrative Agent may, assign all or any part of its rights,
benefits or obligations under this Debenture to any person to whom the Administrative Agent is permitted to assign and assigns the Secured Obligations. 

  

	 	21.3	The Administrative Agent may disclose to any person to whom the Administrative Agent is permitted all or any part of its rights benefits or obligations under this Debenture such
information about the Company and this Debenture as the Administrative Agent considers appropriate. 

  

 17 

	22.	Certificate of the Administrative Agent 

  
 A certificate signed by an officer of the Administrative Agent as to the amount at any time hereby secured or as to any applicable rate of interest shall,
as against the Company, be prima facie evidence as to the amount thereof. 
  

	23.	No Waivers, Remedies Cumulative 

  
 No failure on the part of the Administrative Agent to exercise, nor any delay in exercising any right, remedy, power or privilege under this Debenture
will operate as a waiver thereof, nor will any single or partial exercise of any such right, remedy, power or privilege preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights,
remedies, powers and privileges under this Debenture are cumulative and not exclusive of any such right, remedy, power or privilege that may otherwise be available to the Administrative Agent. 
  

	24.	Costs and Expenses 

  

	 	24.1	All costs and expenses incurred by the Administrative Agent or, as the case may be, any Receiver: 

  

	 	(a)	in the negotiation, preparation and execution of this Debenture and the completion of the transactions contemplated herein to the extent reasonably incurred;

  

	 	(b)	in the exercise of any of the rights, remedies and powers conferred on the Administrative Agent or, as the case may be, any Receiver, by this Debenture to the extent reasonably
incurred when incurred at a time when there is no continuing Event of Default; and 

  

	 	(c)	as a consequence of holding the Security or the preservation or protection thereof or any claims or proceedings in relation thereto or to any of the Charged Property,

  
 shall be reimbursed by the Company to the
Administrative Agent on demand on a full indemnity basis. 
  

	 	24.2	The Company shall pay all stamp, registration and other taxes to which this Debenture or any judgment in connection herewith is or at any time may be subject and shall indemnify the
Administrative Agent against any liabilities, costs, claims and expenses resulting from any failure to pay or delay in paying such tax. 

  

	 	24.3	The cost of the Company complying with any of its obligations under this Debenture (including, without limitation, its obligations under Clause 6 (Further Assurances)) shall
be borne by the Company. 

  

 18 

	25.	Notices 

  

	 	25.1	Any notice or other communication to be given under or for the purposes of this Debenture shall be in writing and shall be delivered in accordance with the terms of Section 9.2 of
the Credit Agreement to the address or facsimile number identified below or such other address or facsimile number as that person has designated in writing from time to time to the person giving the notice:- 

  

	 	(a)	the Administrative Agent as follows: 

  

			
	Address:	  	Wachovia Bank, National Association
	 	  	Charlotte Plaza
	 	  	 201 South College Street,
 CP-8 Charlotte,

North Carolina 28288-0680

		
	Facsimile No:	  	(704) 374-2698
		
	Attention:	  	Syndication Agency Services

  

	 	(b)	the Company: 

  

	
	 Address:

	
	 Facsimile No:

	
	 Attention:

  

	26.	Counterparts 

  
 This Debenture may be executed in any number of counterparts and by the different parties to this Debenture on separate counterparts, each of which, when
executed and delivered, shall constitute an original, but all the counterparts shall together constitute but one and the same instrument. 
  

	27.	Governing Law and Jurisdiction 

  

	 	27.1	This Debenture shall be governed by and construed in accordance with the laws of Ireland. 

  

	 	27.2	The Company hereby agrees for the exclusive benefit of the Administrative Agent that any legal action or proceeding (“Proceedings”) brought against it with respect
to this Debenture may be brought in the High Court in Ireland or such other competent Court of Ireland as the Administrative Agent may elect and the Company waives any objection to Proceedings in such courts whether on the grounds of venue or on the
ground that Proceedings have been brought in an inconvenient forum. The Company undertakes to enter an unconditional appearance within 14 days after the completion of any service or process in any Proceedings. The Company hereby consents to the
service by post of any process issued in that jurisdiction. Nothing herein shall affect the right to serve process in any other manner permitted by law. 

  

 19 

 IN WITNESS whereof this Debenture has been entered into the day and year first above written. 
  

			
	THE COMPANY
	
	The Common Seal of
	LIONBRIDGE TECHNOLOGIES IRELAND
	was hereunto affixed in the presence of:
		
	Director	 	 /s/ David Dahn

	 	 	David Dahn
	 	 	Director/Secretary
		
	 	 	 /s/ Jeffrey Fitzgerald

	 	 	Jeffrey Fitzgerald
		
	Witness:	 	 /s/ Margaret A. Shukur

	 	 	Margaret A. Shukur
	Occupation:
		
	Address:	 	Grattan House, Temple Road
	 	 	Blackrock, County Dublin, Ireland
	
	 THE ADMINISTRATIVE AGENT

	
	Signed by:
	for an on behalf of
	WACHOVIA BANK, NATIONAL ASSOCIATION
	
	Witness:
	
	Occupation:
	
	Address:

  

 20 

 THE COMPANY 
  
 The Common Seal of 
 LIONBRIDGE TECHNOLOGIES
IRELAND 
 was hereunto affixed 
 in the presence of:

  
 Director 
  
 Director/Secretary 
  
 Witness: 
  
 Occupation: 
  
 Address: 
  
 THE ADMINISTRATIVE AGENT 
  

					
	 Signed by:
 for an on behalf of
	 	 /s/ Mark B. Felker

	 	 
	 	 	 MANAGING DIRECTOR
	 	 
		
	WACHOVIA BANK, NATIONAL ASSOCIATION	 	 

  

					
	Witness:	 	 /s/ Louis K. Beasley III

	 	 
	 	 	 Louis K. Beasley III
	 	 
	 Occupation:
	 	 Banker
	 	 
	 Address:
	 	 One Wachovia Center
	 	 
	 	 	 301 South College Street
	 	 
	 	 	 Charlotte, NC 28288
	 	 

  

 21

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