Document:

Fourth Amendment to Revolving Credit and Security Agreement

 Exhibit 10.1 
 FOURTH AMENDMENT TO  
 REVOLVING CREDIT AND SECURITY AGREEMENT

 THIS FOURTH AMENDMENT TO REVOLVING CREDIT AND SECURITY AGREEMENT (this “Amendment”) is made and
entered into effective as of December 27, 2012 (the “Effective Date”), by and among FLOTEK INDUSTRIES, INC., a corporation organized under the laws of the State of Delaware (“Holdings”), CESI CHEMICAL, INC., a
corporation organized under the laws of Oklahoma (“CESI Chemical”), CESI MANUFACTURING, LLC, a limited liability company formed under the laws of the State of Oklahoma (“CESI Manufacturing”), MATERIAL
TRANSLOGISTICS, INC., a corporation organized under the laws of the State of Texas (“MTI”), TELEDRIFT COMPANY, a corporation organized under the laws of the State of Delaware (“Teledrift”), TURBECO, INC., a
corporation organized under the laws of the State of Texas (“Turbeco”), USA PETROVALVE, INC., a corporation organized under the laws of the State of Texas (“USA Petrovalve”; and together with Holdings, CESI
Chemical, CESI Manufacturing, MTI, Teledrift, and Turbeco, individually, each a “Borrower” and jointly and severally, the “Borrowers”), and PNC BANK, NATIONAL ASSOCIATION (“PNC”), as a Lender (as
defined in the hereinafter defined Credit Agreement) and as agent for the Lenders (in such capacity, “Agent”). 

PRELIMINARY STATEMENTS 
 A. Borrowers, Lenders and the Agent are parties to that certain Revolving Credit and Security Agreement dated September 23, 2011 (as amended, restated, supplemented, or otherwise modified from time
to time, the “Credit Agreement”); 
 B. Borrower has advised the Agent and the Lenders that it desires to sell
the patents listed on Schedule A attached hereto (the “Subject Patents”) to Halliburton Energy Services, Inc., a Delaware corporation, on or about the date hereof, (the “Subject Transaction”); 

C. Borrowers have requested that Agent (i) make certain amendments to the Credit Agreement and (ii) consent to the Subject
Transaction; and 
 D. Subject to the terms and conditions set forth herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Agent and the Lenders are willing to (i) make such amendments to the Credit Agreement and (ii) issue their consent to the Subject Transactions, all as set forth herein. 

NOW, THEREFORE, in consideration of the premises herein contained and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties, intending to be legally bound, agree as follows: 
 ARTICLE I 

DEFINITIONS 
 1.01 Capitalized terms used in this Amendment are defined in the Credit Agreement, as amended hereby, unless otherwise stated. 

 ARTICLE II 
 AMENDMENT 
 2.01 Amendment to Section 1.2; Amendment of
Certain Definitions. The following definitions set forth in Section 1.2 of the Credit Agreement, are each hereby amended and restated in their entirety to read as follows: 

“Advances” shall mean and include the Revolving Advances, Letters of Credit and Term Loan. 

“Agreement” shall mean this Revolving Credit, Term Loan and Security Agreement, as the same may be
amended, restated, extended, supplemented or otherwise modified from time to time. 
 “Fee
Letter” shall mean that certain Amended and Restated Fee Letter, dated as of the Fourth Amendment Effective Date, among Agent and the Borrowers, as the same may be amended, restated, supplemented or modified from time to time. 

“Fixed Charge Coverage Ratio” shall mean and include, with respect to any fiscal period, the ratio of
(a) EBITDA of Holdings and its Subsidiaries on a consolidated basis, minus Unfinanced Capital Expenditures made during such period, minus cash taxes paid during such period, minus all cash distributions and cash dividends
made during such period to (b) all Senior Debt Payments (excluding any payments in respect of (i) the Convertible Senior Unsecured Notes issued by Holdings on February 14, 2008, at par, in an aggregate original principal amount of
$115,000,000 and (ii) the Convertible Senior Secured Notes issued by Holdings on March 31, 2010, at par, in an aggregate original principal amount of $36,000,000) during such period. 

“Letter of Credit Sublimit” shall mean $10,000,000. 

“Maximum Revolving Advance Amount” shall mean $50,000,000. 

“Other Documents” shall mean, collectively, the First Amendment, the Second Amendment, the Third
Amendment, the Fourth Amendment, each Negative Pledge, the Notes, the Fee Letter, the Questionnaire, any Collateral Assignment of Acquisition Agreement, the Pledge Agreements, the Intellectual Property Security Agreement, any Guaranty, any Guarantor
Security Agreement, any Lender-Provided Interest Rate Hedge, the Intercreditor Agreement, any lien subordination agreements, and any and all other agreements, instruments and documents, including guaranties, pledges, powers of attorney, consents,
interest or currency swap agreements or other similar agreements and all other writings heretofore, now or hereafter executed by any Credit Party and/or delivered to Agent or any Lender in respect of the transactions contemplated by this Agreement
(and shall include any amendment, restatement, renewal, supplement, ratification, confirmation, reaffirmation or other modification of any of the foregoing). 
 “Revolving Advances” shall mean Advances made other than Letters of Credit and the Term Loan. 

 “Revolving Interest Rate” shall mean an interest rate per
annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans. 

“Undrawn Availability” at a particular date shall mean an amount equal to (a) the lesser of
(i) the Formula Amount or (ii) the Maximum Revolving Advance Amount, minus the amount of reserves (if any) established in accordance with section 2.1(a)(y)(iv), minus (b) the sum of (i) the outstanding amount of
Advances (other than the Term Loan) plus (ii) all amounts due and owing to any Borrower’s trade creditors which are sixty (60) days or more past due, plus (iii) fees and expenses for which Borrowers are liable but
which have not been paid or charged to Borrowers’ Account, plus (iv) all other past due Indebtedness (excluding trade payables) included in the calculation of clause (iii) above. 

2.02 Amendments to Section 1.1. Effective as of the Effective Date, the following definitions are added to
Section 1.1 of the Credit Agreement in their proper alphabetical order: 
 “Applicable
Margin” for Revolving Advances and the Term Loan shall mean, for (i) the period from the Fourth Amendment Date through and including April 30, 2013, the applicable percentage determined by reference to the following grid based
upon the Borrowers’ Undrawn Availability (rather than average Undrawn Availability) on the Fourth Amendment Effective Date, after giving effect to all Revolving Advances made on such date, and (ii) thereafter, a rate per annum determined
by reference to the following grid: 
  

																			
	 Level
	  	 Facility Usage
	  	Eurodollar
Rate Loans –
Revolving
Advances	 	 	Eurodollar
Rate Loans –
Term Loans	 	 	Base Rate
Loans –
Revolving
Advances	 	 	Base Rate
Loans –
Term Loans	 
	 Level I
	  	If Average Undrawn Availability is greater than 35% of the Maximum Revolving Advance Amount	  	 	1.50	% 	 	 	2.00	% 	 	 	0.50	% 	 	 	1.00	% 
	 Level II
	  	If Average Undrawn Availability is greater than 25% but less than or equal to 35% of the Maximum Revolving Advance Amount	  	 	1.75	% 	 	 	2.25	% 	 	 	0.75	% 	 	 	1.25	% 
	 Level III
	  	If Average Undrawn Availability is less than or equal to 25% of the Maximum Revolving Advance Amount	  	 	2.00	% 	 	 	2.50	% 	 	 	1.00	% 	 	 	1.50	% 

 Adjustments, if any, in the Applicable Margin shall be implemented quarterly, on a
prospective basis, based upon Agent’s calculation of the prior quarter’s Average Undrawn Availability commencing on March 31, 2013 and continuing on the last day of each fiscal quarter thereafter, effective as of the first day of the
second month in the fiscal quarter immediately following such applicable quarter (i.e. May 1st, August 1st, September 1st and February 1st, as applicable). If an Event of Default has occurred and is continuing at the
time any reduction in the Applicable Margin is to be implemented, that reduction shall be deferred until the first day of the first fiscal month following the date on which such Event of Default is waived or cured. Nothing set forth in this
definition shall limit the applicability of the Default Rate upon the occurrence and during the continuance of an Event of Default. 
 If the Borrowers shall fail to deliver the financial statements, certificates and/or other information required under Section 9.2 by the dates required pursuant to such sections, each Applicable
Margin shall be conclusively presumed to equal the highest Applicable Margin specified in the pricing table set forth above until the date of delivery of such financial statements, certificates and/or other information, at which time the rate will
be adjusted based upon the Average Undrawn Availability reflected in such statements. 
 If, as a result of any
restatement of, or other adjustment to, the financial statements of Borrowers or for any other reason, the Agent determines that (a) the Average Undrawn Availability as previously calculated as of any applicable date was inaccurate, and
(b) a proper calculation of the Average Undrawn Availability would have resulted in different pricing for any period, then (i) if the proper calculation of the Average Undrawn Availability would have resulted in higher pricing for such
period, the Borrowers shall automatically and retroactively be delegated to pay to the Agent, promptly upon demand by the Agent, an amount equal to the excess of the amount of interest and fees that should have been paid for such period over the
amount of interest and fees actually paid for such period; and (ii) if the proper calculation of the Average Undrawn Availability would have resulted in lower pricing for such period, Lenders shall have no obligation to repay interest or fees
to the Borrowers; provided, that, if as a result of any restatement or other event a proper calculation of the Average Undrawn Availability would have resulted in higher pricing for one or more periods and lower pricing for one or more
other periods (due to the shifting of income or expenses from one period to another period or any similar reason), then the amount payable by the Borrowers pursuant to clause (i) above shall be based upon the excess, if any, of the amount of
interest and fees that should have been paid for all applicable periods over the amounts of interest and fees actually paid for such periods. 
 “Average Undrawn Availability” shall mean, for any fiscal quarter, the sum of Borrower’s Undrawn Availability for each day during such quarter, divided by the number of days in such
quarter, as evidenced by the monthly Borrowing Base Certificates delivered hereunder. 
 “Commitment
Percentage” of any Lender shall mean the applicable percentage set forth opposite such Lender’s name on Schedule 1.2(a) as to the Advances, as the same may be adjusted upon any assignment by a Lender pursuant to Section 16.3(c) or
Section 16.3(d) hereof. 

 “Contract Rate” shall mean, as applicable, the Revolving
Interest Rate or the Term Loan Rate. 
 “Eligible Equipment” shall mean and include with respect
to each Borrower, all such Equipment owned and held by such Borrower at one of Borrower’s locations in the continental United States that (i) Agent, in its reasonable discretion, deems to be eligible based on any credit or collateral
considerations as agent deems reasonable and appropriate from time to time and (ii) is subject to a perfected, first priority security interest in favor of Agent, free of all Liens of any Person other than Permitted Encumbrances. 

“Fourth Amendment” shall mean that certain Fourth Amendment to Revolving Credit and Security Agreement by
and among the Borrowers and Agent, dated as of the Fourth Amendment Effective Date. 
 “Fourth Amendment
Effective Date” shall mean December 26, 2012. 
 “Maximum Loan Amount” shall mean
$75,000,000 less repayments of the Term Loan. 
 “Note(s)” shall mean the Revolving Credit Note,
the Term Note and any additional promissory note evidencing the obligations under this agreement. 

“Revolving Advance Commitment Percentage” of any Lender shall mean the applicable percentage set forth
opposite such Lender’s name on Schedule 1.2(a) as to the Revolving Advances, and, as the same may be adjusted upon any assignment by a Lender pursuant to Section 16.3(c) or 16.3(d) hereof. 

“Term Loan” shall mean the Advances made pursuant to Section 2.4 hereof. 

“Term Loan Commitment Percentage” of any Lender shall mean the applicable percentage set forth opposite
such Lender’s name on Schedule 1.2(a) as to the Term Loan, and, as the same may be adjusted upon any assignment by a Lender pursuant to Section 16.3(c) or 16.3(d) hereof. 

“Term Loan Rate” shall mean an interest rate per annum equal to (a) the sum of the Alternate Base
Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans. 

“Term Note” shall mean, collectively, the promissory notes described in Section 2.4 hereof.

 2.03 Amendment to Section 1.2; Amendment of Certain Definitions. The definition of “Note”
set forth in Section 1.2 of the Credit Agreement, is hereby deleted. 
 2.04 Amendment to
Section 2.1. Effective as of the date hereof, the first sentence of Section 2.1(a) is hereby amended by adding “Revolving Advance” directly preceding “Commitment Percentage”. 

 2.05 Amendment to Section 2.1. Effective as of the date hereof,
Section 2.1(a)(y)(ii)(C) is hereby amended by deleting “$20,000,000” referenced therein and adding “$30,000,000” in its place. 
 2.06 Amendment to Section 2.1. Effective as of the date hereof, Section 2.1(a)(y)(iv) is hereby amended and restated in its entirety to read as follows: 

(iv) such reserves as Agent may deem proper and necessary in the exercise of its Permitted Discretion from time to time, including,
without limitation, a reserve in an amount equal to the outstanding principal balance of all Senior Convertible Notes which are not purchased or redeemed for permanent retirement and cancellation on or about the Fourth Amendment Effective Date (the
“Senior Convertible Notes Reserve”), such Senior Convertible Notes Reserve to be released in connection with the purchase or redemption of any such outstanding Senior Convertible Notes on or about February 13, 2013; 

2.07 Addition of Section 2.4. Effective as of the date hereof, the Credit Agreement is hereby amended by addition a
new section, Section 2.4, to read as follows: 
 2.4. Term Loan. Subject to the terms and
conditions of this Agreement, each Lender, severally and not jointly, will make a Term Loan to Borrowers in the sum equal to such Lender’s Term Loan Commitment Percentage of $25,000,000. The Term Loan shall be advanced on the Closing Date and
shall be, with respect to principal, payable as follows, subject to acceleration upon the occurrence of an Event of Default under this Agreement or termination of this Agreement: (a) commencing February 1, 2013, and continuing on the first
Business Day of each and every calendar month thereafter, Borrowers shall pay to Agent equal monthly payments of principal in the aggregate amount of $297,619.05 (which amount has been agreed to by Borrowers and Lenders and based upon a seven year
principal amortization schedule) and (b) the entire outstanding principal balance of this Term Loan, together with all accrued and unpaid interest, shall be due and payable in full, in cash, on the last day of the Term, if not sooner, by
Borrowers; provided, however, if the principal amount of the Term Loan at any time outstanding exceeds an amount equal to eighty-five percent (85%) of the appraised net orderly liquidation value of Eligible Equipment (based on the
most recent NOLV Appraisal received by Agent), Borrowers shall immediately prepay, upon request of Agent, the Term Loan in an amount sufficient to eliminate excess. The Term Loan shall be evidenced by one or more secured promissory notes
(collectively, the “Term Note”) in substantially the form attached hereto as Exhibit 2.4(a). The Term Loan may consist of Domestic Rate Loans or Eurodollar Rate Loans, or a combination thereof, as Borrowing Agent may request. In the
event that Borrowers desire to obtain or extend a Eurodollar Rate Loan or to convert a Domestic Rate Loan to a Eurodollar Rate Loan, Borrowing Agent shall comply with the notification requirements set forth in Sections 2.2(b) and (d) and the
provisions of Sections 2.2(b) through (g) shall apply. Amounts repaid under the Term Loan may not be reborrowed. 
 2.08
Amendment to Section 2.5. Effective as of the date hereof, Section 2.5 of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 

2.5. Maximum Advances. The aggregate balance of Revolving Advances outstanding at any time shall not exceed the
lesser of (a) the Maximum Revolving Advance Amount or (b) the Formula Amount less, in each case, the aggregate Maximum Undrawn Amount of all issued and outstanding Letters of Credit. The aggregate balance of Advances outstanding at
any time shall not exceed the Maximum Loan Amount. 

 2.09 Amendment to Section 2.6. Effective as of the date hereof,
subsection 2.6(a) of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 
 (a) The Revolving Advances shall be due and payable in full on the last day of the Term subject to earlier prepayment as herein provided. The Term Loan shall be due and payable as provided in
Section 2.4(a) hereof and in the Term Note, subject to mandatory prepayments as herein provided. 
 2.10 Amendment to
Section 2.12. Effective as of the date hereof, subsections 2.12(a) and (c) of the Credit Agreement are hereby amended to add “Revolving Advance” directly preceding “Commitment Percentage” in each instance
where used. 
 2.11 Amendment to Section 2.13. Effective as of the date hereof, subsections 2.13(a) and
(b) of the Credit Agreement are hereby amended to add “Revolving Advance” directly preceding “Commitment Percentage” in each instance where used. 
 2.12 Amendment to Section 2.20. Effective as of the date hereof, subsections 2.20(a), (b) and (c)(i) of the Credit Agreement are hereby amended and restated in its entirety
to read as follows: 
 (a) Each borrowing of Revolving Advances shall be advanced according to the applicable
Revolving Advance Commitment Percentages of Lenders. The Term Loan shall be advanced according to the Term Loan Commitment Percentages of Lenders. 
 (b) Each payment (including each prepayment) by any Borrower on account of the principal of and interest on the Revolving Advances, shall be applied to the Revolving Advances pro rata according to the
applicable Revolving Advance Commitment Percentages of Lenders. Each payment (including each prepayment) by any Borrower on account of the principal of and interest on the Term Note, shall be made from or to, or applied to that portion of the Term
Loan evidenced by the Term Note pro rata according to the Term Loan Commitment Percentages of Lenders. Except as expressly provided herein, all payments (including prepayments) to be made by any Borrower on account of principal, interest and fees
shall be made without set off or counterclaim and shall be made to Agent on behalf of the Lenders to the Payment Office, in each case on or prior to 1:00 p.m., in Dollars and in immediately available funds. 

(c) (i) Notwithstanding anything to the contrary contained in Sections 2.20(a) and (b) hereof, commencing with the
first Business Day following the Closing Date, each borrowing of Revolving Advances shall be advanced by Agent and each payment by Borrower on account of Revolving Advances shall be applied first to those Revolving Advances advanced by Agent. On or
before 1:00 p.m., on each Settlement Date commencing with the first Settlement Date following the Closing Date, Agent and Lenders shall make certain payments as follows: (I) if the aggregate amount of new Revolving Advances made by Agent during
the preceding Week (if any) exceeds the aggregate amount of repayments applied to outstanding Revolving Advances during such preceding Week, then each Lender shall provide Agent with funds in an amount equal to its applicable Revolving Advance
Commitment Percentage of the difference between (w) such Revolving Advances and (x) such repayments and (II) if the aggregate amount of repayments applied to outstanding Revolving Advances during such Week exceeds the

 
aggregate amount of new Revolving Advances made during such Week, then Agent shall provide each Lender with funds in an amount equal to its applicable Revolving Advance Commitment Percentage of
the difference between (y) such repayments and (z) such Revolving Advances. 
 2.13 Amendment to
Section 2.21. Effective as of the date hereof, Section 2.21 of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 
 Section 2.21. Mandatory Prepayments. 
 (a) Subject to
Section 4.3 hereof, when any Borrower sells or otherwise disposes of any Collateral other than Inventory in the Ordinary Course of Business, Borrowers shall repay the Advances in an amount equal to the net proceeds of such sale (i.e., gross
proceeds less the reasonable costs of such sales or other dispositions), such repayments to be made promptly but in no event more than one (1) Business Day following receipt of such net proceeds, and until the date of payment, such proceeds
shall be held in trust for Agent. The foregoing shall not be deemed to be implied consent to any such sale otherwise prohibited by the terms and conditions hereof. Such repayments shall be applied, (x) first, to the outstanding principal
installments of the Term Loan in the inverse order of the maturities thereof and (y) second, to the outstanding Advances in such order as Agent may determine, subject to Borrowers’ ability to reborrow Revolving Advances in accordance with
the terms hereof. 
 (b) In the event of any issuance or other incurrence of Indebtedness or Equity Interests
(including any capital contribution by Holdings, Borrowers or any of their respective Subsidiaries), Borrowers shall, no later than one (1) Business Day after the receipt by such Borrower, Holdings or any of their respective Subsidiaries of
(a) the cash proceeds from any such issuance or incurrence of Indebtedness and (b) the net cash proceeds of any issuance of Equity Interests, as the case may be, repay the Advances in an amount equal to such cash proceeds or net cash
proceeds, as applicable. Such repayments will be applied, (x) first, to the outstanding principal installments of the Term Loan in the inverse order of the maturities thereof and (y) second, to the outstanding Advances in such order as
Agent may determine, subject to Borrowers’ ability to reborrow Revolving Advances in accordance with the terms hereof. The foregoing shall not be deemed to be implied consent to any such issuance or incurrence of Indebtedness or Equity Interest
prohibited by the terms and conditions hereof. 
 (c) In the event that Borrowers, Holdings or any of their
respective Affiliates receives or is entitled to any refund, return or other repayment of the purchase consideration paid under the Acquisition Agreement (or any portion thereof), Borrowers shall cause all such amounts to be remitted directly to
Agent (or, if such amounts are nonetheless received by Borrowers, Holdings or any such Affiliate, Borrowers shall, no later than one (1) Business Day after such receipt, cause all such amounts to be remitted to Agent) for repayment of the
Obligations, until all Obligations have been indefeasibly paid in full. Such repayments shall be applied, (x) first, to the outstanding principal installments of the Term Loan in the inverse order of the maturities thereof and (y) second,
to the outstanding Advances in such order as Agent may determine, subject to Borrowers’ ability to reborrow Revolving Advances in accordance with the terms hereof. Notwithstanding the foregoing, payments received by Borrowers pursuant to any
escrow agreement executed in connection with an Acquisition Agreement in respect of a breach by the sellers thereunder of any representation, warranty, covenant or agreement set forth 

 
in or made by such sellers pursuant to such Acquisition Agreement, shall be remitted to Agent and applied by Agent to the Revolving Advances, subject to Borrowers’ ability to reborrow
Revolving Advances in accordance with the terms hereof. 
 2.14 Amendment to Section 2.22. Effective as of
the date hereof, Section 2.22(a) of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 
 (a) Borrowers shall apply the proceeds of Advances to (i) pay fees and expenses relating to this transaction, (ii) finance Permitted Acquisitions, (iii) finance Capital Expenditures
permitted pursuant to the terms hereof, (iv) purchase or redeem, for permanent retirement and cancellation, the Convertible Senior Notes and (v) provide for its working capital needs and reimburse drawings under Letters of Credit.

 2.15 Amendment to Section 2.23. Effective as of the date hereof, Section 2.23(b) of the Credit
Agreement is hereby amended and restated in its entirety to read as follows: 
 (b) Advances shall be incurred
pro rata from Lenders (the “Non-Defaulting Lenders”) which are not Defaulting Lenders based on their respective Revolving Advance Commitment Percentage or Term Loan Commitment Percentage, and no Revolving Advance Commitment
Percentage or Term Loan Commitment Percentage of any Lender or any pro rata share of any Advances required to be advanced by any Lender shall be increased as a result of such Lender Default. Amounts received in respect of principal of any type of
Advances shall be applied to reduce the applicable Advances of each Lender (other than any Defaulting Lender) pro rata based on the aggregate of the outstanding Advances of that type of all Lenders at the time of such application; provided,
that, Agent shall not be obligated to transfer to a Defaulting Lender any payments received by Agent for the Defaulting Lender’s benefit, nor shall a Defaulting Lender be entitled to the sharing of any payments hereunder (including any
principal, interest or fees). Amounts payable to a Defaulting Lender shall instead be paid to or retained by Agent. Agent may hold and, in its discretion, re-lend to Borrower the amount of such payments received or retained by it for the account of
such Defaulting Lender. 
 2.16 Amendment to Section 3.1. Effective as of the date hereof,
Section 3.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 
 Section 3.1 Interest. Interest on Advances shall be payable in arrears on the first day of each month with respect to Domestic Rate Loans and, with respect to Eurodollar Rate Loans, at the end
of each Interest Period. Interest charges shall be computed on the actual principal amount of Advances outstanding during the month at a rate per annum equal to (i) with respect to Revolving Advances, the applicable Revolving Interest Rate and
(ii) with respect to the Term Loan, the applicable Term Loan Rate (as applicable, the “Contract Rate”). Whenever, subsequent to the date of this Agreement, the Alternate Base Rate is increased or decreased, the applicable
Contract Rate Revolving Interest Rate for Domestic Rate Loans shall be similarly changed without notice or demand of any kind by an amount equal to the amount of such change in the Alternate Base Rate during the time such change or changes remain in
effect. The Eurodollar Rate shall be adjusted with respect to Eurodollar Rate Loans without notice or demand of any kind on the effective date of any change in the Reserve Percentage as of such effective date. Upon and after the occurrence of an
Event of Default, and during the continuation thereof, (i) at the option of Agent or at the direction of Required Lenders, the Obligations other than Eurodollar Rate Loans shall bear interest at the Revolving Interest Rate for

 
Domestic Rate Loans plus two (2%) percent per annum and (ii) Eurodollar Rate Loans shall bear interest at the Revolving Interest Rate for Eurodollar Rate Loans plus two percent
(2%) percent per annum (as applicable, the “Default Rate”). 
 2.17 Amendment to
Section 3.2. Effective as of the date hereof, the first sentence of Section 3.2(a) of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 

Borrowers shall pay (x) to Agent, for the ratable benefit of Lenders in accordance with their Revolving Advance Commitment
Percentages, fees for each Letter of Credit for the period from and excluding the date of issuance of same to and including the date of expiration or termination, equal to the average daily face amount of each outstanding Letter of Credit multiplied
by two percent (2.00%) per annum, such fees to be calculated on the basis of a 360-day year for the actual number of days elapsed and to be payable quarterly in arrears on the first day of each quarter and on the last day of the Term, and
(y) to the Issuer, a fronting fee of one quarter of one percent (0.25%) per annum, such fees to be calculated on the basis of a 360-day year for the actual number of days elapsed and to be payable quarterly in arrears on the first day of each
quarter and on the last day of the Term, together with any and all customary administrative, issuance, amendment, payment and negotiation charges with respect to Letters of Credit and all fees and expenses as agreed upon by the Issuer and the
Borrowing Agent in connection with any Letter of Credit, including in connection with the opening, amendment or renewal of any such Letter of Credit and any acceptances created thereunder and shall reimburse Agent for any and all reasonable and
documented out-of-pocket fees and expenses, if any, paid by Agent to the Issuer (all of the foregoing fees, the “Letter of Credit Fees”). 
 2.18 Amendment to Section 4.3. Effective as of the date hereof, Section 4.3 of the Credit Agreement is hereby amended by deleting “$500,000” and adding
“$1,000,000” in its place. 
 2.19 Amendment to Section 7.6. Effective as of the date hereof,
Section 7.6 of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 
 Section 7.6 Capital Expenditures. Contract for, purchase or make any expenditure or commitments for Capital Expenditures in any fiscal year thereafter, in an aggregate amount in excess of
$20,000,000. For purposes of this Section 7.6, the amount of “lost in hole” revenue of Borrower shall be subtracted from the amounts deemed or paid for Capital Expenditures. 

2.20 Amendment to Section 7.21. Effective as of the date hereof, Section 7.21 of the Credit Agreement is
hereby amended and restated in its entirety to read as follows: 
 Section 7.21 Convertible Senior
Notes. At any time, directly or indirectly, pay, prepay, repurchase, redeem, retire or otherwise acquire, or make any payment on account of any principal of, or premium payable in connection with the repayment or redemption of the Convertible
Senior Notes, except (a) regularly scheduled cash payments of interest due and owing to Convertible Senior Lenders under the Convertible Senior Notes, (b) on or about the Fourth Amendment Effective Date, the purchase or redemption, for
permanent retirement and cancellation, of $50,000,000 of the Convertible Senior Notes, (c) in connection with the permanent redemption, retirement, and cancellation of the Convertible Senior Notes on or about February 13, 2013 and
(c) as expressly permitted in writing by Agent. 

 2.21 Amendment to Section 9.9. Effective as of the date hereof,
Section 9.9 of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 
 Section 9.9 Monthly Financial Statements. Furnish Agent for distribution to the Lenders within thirty (30) days after the end of each fiscal month, an unaudited balance sheet of Holdings
and its Subsidiaries on a consolidated basis and unaudited statements of income and stockholders’ equity and cash flow of Holdings and its Subsidiaries on a consolidated basis reflecting results of operations from the beginning of the fiscal
year to the end of such calendar month and for such month, prepared on a basis consistent with prior practices and complete and correct in all material respects, subject to normal and recurring year-end adjustments that individually and in the
aggregate are not material to the business of Holdings or its Subsidiaries. The reports shall be accompanied by a Compliance Certificate. 
 2.22 Amendment to Section 13.1. Effective as of the date hereof, Section 13.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 Section 13.1 Term. This Agreement, which shall inure to the benefit of and shall be binding upon
the respective successors and permitted assigns of each Borrower, Agent and each Lender, shall become effective on the date hereof and shall continue in full force and effect until December 26, 2017, unless sooner terminated as herein provided.

 2.23 Amendment to Section 16.2. Effective as of the date hereof, the first sentence of subsection
16.2(b)(i) of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 
 (i)
increase the Revolving Advance Commitment Percentage, the Term Loan Commitment Percentage, the maximum dollar commitment of any Lender or the Maximum Revolving Advance Amount. 
 2.24 Amendment to Section 16.3. Effective as of the date hereof, subsection 16.3(c) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 Any Lender, with the consent of Agent and Borrowers (unless an Event of Default or Default has occurred and is continuing, in
which case no consent of the Borrowers is required), which shall not be unreasonably withheld or delayed, may sell, assign or transfer all or any part of its rights and obligations under or relating to Revolving Advances and/or Term Loans under this
Agreement and the Other Documents to one or more additional banks or financial institutions and one or more additional banks or financial institutions may commit to make Advances hereunder (each a “Purchasing Lender”) in minimum
amounts of not less than $1,000,000, pursuant to a Commitment Transfer Supplement, executed by a Purchasing Lender, the transferor Lender, and Agent and delivered to Agent for recording. Upon such execution, delivery, acceptance and recording, from
and after the transfer effective date determined pursuant to such Commitment Transfer Supplement, (i) Purchasing Lender thereunder shall be a party 

 
hereto and, to the extent provided in such Commitment Transfer Supplement, have the rights and obligations of a Lender thereunder with a Revolving Advance Commitment Percentage and/or Term Loan
Commitment Percentage as set forth therein, and (ii) the transferor Lender thereunder shall, to the extent provided in such Commitment Transfer Supplement, be released from its obligations under this Agreement, the Commitment Transfer
Supplement creating a novation for that purpose. Such Commitment Transfer Supplement shall be deemed to amend this Agreement to the extent, and only to the extent, necessary to reflect the addition of such Purchasing Lender and the resulting
adjustment of the Revolving Advance Commitment Percentages and/or Term Loan Commitment Percentages arising from the purchase by such Purchasing Lender of all or a portion of the rights and obligations of such transferor Lender under this Agreement
and the Other Documents. Each Borrower hereby consents to the addition of such Purchasing Lender and the resulting adjustment of the Revolving Advance Commitment Percentages and/or Term Loan Commitment Percentages arising from the purchase by such
Purchasing Lender of all or a portion of the rights and obligations of such transferor Lender under this Agreement and the Other Documents. Borrowers shall execute and deliver such further documents and do such further acts and things in order to
effectuate the foregoing. 
 2.25 Amendment to Section 16.3. Effective as of the date hereof, the first
sentence of subsection 16.3(d) of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 

Any Lender, with the consent of Agent which shall not be unreasonably withheld or delayed, may directly or indirectly sell, assign or
transfer all or any portion of its rights and obligations under or relating to Revolving Advances and/or Term Loan under this Agreement and the Other Documents to an entity, whether a corporation, partnership, trust, limited liability company or
other entity that (i) is engaged in making, purchasing, holding or otherwise investing in bank loans and similar extensions of credit in the ordinary course of its business and (ii) is administered, serviced or managed by the assigning
Lender or an Affiliate of such Lender (a “Purchasing CLO” and together with each Participant and Purchasing Lender, each a “Transferee” and collectively the “Transferees”), pursuant to a Commitment
Transfer Supplement modified as appropriate to reflect the interest being assigned (“Modified Commitment Transfer Supplement”), executed by any intermediate purchaser, the Purchasing CLO, the transferor Lender, and Agent as
appropriate and delivered to Agent for recording. 
 2.26 Addition of Schedule 1.2(a). The Credit Agreement is
hereby amended by adding thereto an Schedule 1.2(a) in the form attached hereto as Schedule 1.2(a) – Lenders’ Commitments. 
 2.27 Addition of Exhibit 2.4. The Credit Agreement is hereby amended by adding thereto an Exhibit 2.4 in the form attached hereto as Exhibit 2.4. 

 ARTICLE III 
 CONDITIONS PRECEDENT; POST-CLOSING OBLIGATIONS 
 3.01
Conditions to Effectiveness. The effectiveness of this Amendment is subject to the satisfaction of the following conditions precedent, unless specifically waived in writing by the Agent: 

(a) The Agent shall have received the following documents or items, each in form and substance satisfactory to the Agent
and its legal counsel: 
 (i) this Amendment duly executed by each Borrower; 

(ii) that certain Amended and Restated Revolving Credit Note in the original principal amount of $50,000,000 duly executed
by Borrowers; 
 (iii) that certain Term Note in the original principal amount of $25,000,000 duly executed by
Borrowers; 
 (iv) evidence that each document (including any Uniform Commercial Code financing statement)
required by the Credit Agreement, any related agreement or under law or reasonably requested by the Agent to be filed, registered or recorded in order to create, in favor of Agent, a perfected security interest in or lien upon the Collateral shall
have been properly filed, registered or recorded in each jurisdiction in which the filing, registration or recordation thereof is so required or requested, and Agent shall have received an acknowledgment copy, or other evidence satisfactory to it,
of each such filing, registration or recordation and satisfactory evidence of the payment of any necessary fee, tax or expense relating thereto; 
 (v) the Consent, Ratification and Release, as attached to this Amendment, duly executed by each Guarantor; 
 (vi) the executed legal opinion of (i) Doherty & Doherty LLP and (ii) Crowe & Dunlevy PC, in each case, in form and substance satisfactory to Agent, which opinions shall cover
such matters incident to the transactions contemplated by this Amendment, the Revolving Credit Note, the Other Documents, and related agreements as Agent may reasonably require and Borrowers hereby authorize and direct such counsel to deliver such
opinions to Agent and Lenders; and 
 (vii) all other documents Agent may reasonably request with respect to any
matter relevant to this Amendment or the transaction contemplated hereby; 
 (b) (i) No litigation, investigation
or proceeding before or by any arbitrator or Governmental Body shall be continuing or threatened against any Credit Party or against the officers or directors of any Credit Party (A) in connection with this Amendment, the Other Documents or any
of the transactions contemplated thereby and which, in the reasonable opinion of Agent, is deemed material or (B) which could, in the reasonable opinion of Agent, have a Material Adverse Effect; and (ii) no injunction, writ, restraining
order or other order of any nature materially adverse to any Credit Party or the conduct of its business or inconsistent with the due consummation of the Transactions shall have been issued by any Governmental Body; 

(c) (i) since December 31, 2011, there shall not have occurred any event, condition or state of facts which could
reasonably be expected to have a Material Adverse Effect and (ii) no representations made or information supplied to Agent or Lenders shall have been proven to be inaccurate or misleading in any material respect; 

 (d) Borrowers shall have Undrawn Availability of at least $15,000,000, as
evidenced by a Borrowing Base Certificate satisfactory to Agent in is sole discretion; 
 (e) The representations
and warranties contained herein and in the Credit Agreement and the Other Documents, as each is amended hereby, shall be true and correct as of the date hereof, as if made on the date hereof; and 

(f) No Default or Event of Default shall have occurred and be continuing. 

ARTICLE IV 

LIMITED CONSENT; NO WAIVER 
 4.01 Limited Consent. Subject to the satisfaction of the conditions set forth in Article III above and the immediately succeeding sentence, the Agent and the Lenders hereby
consent to the Subject Transaction and, solely with respect to the Subject Transaction, hereby waive compliance by Borrower with any provisions of the Credit Agreement and the Other Documents that would otherwise prohibit the Subject Transaction.
Agent’s and the Lenders’ consent to the Subject Transaction is given solely to the extent that all proceeds of the Subject Transaction are remitted to Agent to be applied pursuant to Section 2.21 of the Credit Agreement. Upon
consummation of the Subject Transactions, Agent’s Liens in the Subject Patents shall be deemed automatically released and terminated. 
 4.02 No Waiver. Nothing contained in this Amendment shall be construed as a waiver by the Agent or any Lender of any covenant or provision of the Credit Agreement (as amended hereby), the
Other Documents, this Amendment, or of any other contract or instrument between any Borrower and the Agent or any Lender, and the failure of the Agent or any Lender at any time or times hereafter to require strict performance by any Borrower of any
provision thereof shall not waive, affect or diminish any right of the Agent to thereafter demand strict compliance therewith. The Agent and each Lender hereby reserves all rights granted under the Credit Agreement, the Other Documents, this
Amendment and any other contract or instrument between any Borrower, Lenders and the Agent. 
 ARTICLE V 

RATIFICATIONS, REPRESENTATIONS, WARRANTIES AND OTHER AGREEMENTS 

5.01 Ratifications. The terms and provisions set forth in this Amendment shall modify and supersede all inconsistent terms
and provisions set forth in the Credit Agreement and the Other Documents, and, except as expressly modified and superseded by this Amendment, the terms and provisions of the Credit Agreement and the Other Documents are ratified and confirmed and
shall continue in full force and effect. Each Borrower hereby agrees that all liens and security interest securing payment of the Obligations under the Credit Agreement are hereby collectively renewed, ratified and brought forward as security for
the payment and performance of the Obligations. Each Borrower and the Agent agree that the Credit Agreement and the Other Documents, as amended hereby, shall continue to be legal, valid, binding and enforceable in accordance with their respective
terms. 
 5.02 Representations and Warranties with respect to Other Documents. Each Borrower hereby represents and
warrants to the Agent that (a) the execution, delivery and performance of this Amendment and any and all Other Documents executed and/or delivered in connection herewith have been authorized by all requisite corporate action on the part of each
Borrower and will not violate the 

 
Articles or Certificate of Incorporation or By-Laws or the Certificate of Formation or Operating Agreement of any Borrower; (b) the representations and warranties contained in the Credit
Agreement, as amended hereby, and the Other Documents are true and correct on and as of the date hereof and on and as of the date of execution hereof as though made on and as of each such date; (c) no Default or Event of Default under the
Credit Agreement, as amended hereby, has occurred and is continuing, unless such Default or Event of Default has been specifically waived in writing by the Agent; and (d) each Borrower is in full compliance with all covenants and agreements
contained in the Credit Agreement and the Other Documents, as amended hereby. 
 ARTICLE VI 

MISCELLANEOUS PROVISIONS 
 6.01 Survival of Representations and Warranties. All representations and warranties made in the Credit Agreement or the Other Documents, including, without limitation, any document furnished
in connection with this Amendment, shall survive the execution and delivery of this Amendment and the Other Documents, and no investigation by the Agent or any closing shall affect the representations and warranties or the right of the Agent to rely
upon them. 
 6.02 Reference to Credit Agreement. Each of the Credit Agreement and the Other Documents, and any
and all other agreements, documents or instruments now or hereafter executed and delivered pursuant to the terms hereof or pursuant to the terms of the Credit Agreement, as amended hereby, are hereby amended so that any reference in the Credit
Agreement and such Other Documents to the Credit Agreement shall mean a reference to the Credit Agreement as amended hereby. 

6.03 Expenses of the Agent. Each Borrower jointly and severally agrees to pay on demand all reasonable costs and expenses
incurred by the Agent in connection with any and all amendments, modifications, and supplements to the Other Documents, including, without limitation, the costs and fees of the Agent’s legal counsel, and all costs and expenses incurred by the
Agent in connection with the enforcement or preservation of any rights under the Credit Agreement, as amended hereby, or any Other Documents, including, without, limitation, the costs and fees of the Agent’s legal counsel. 

6.04 Severability. Any provision of this Amendment held by a court of competent jurisdiction to be invalid or unenforceable
shall not impair or invalidate the remainder of this Amendment and the effect thereof shall be confined to the provision so held to be invalid or unenforceable. 
 6.05 Successors and Assigns. This Amendment is binding upon and shall inure to the benefit of the Agent, Lenders and each Borrower and their respective successors and assigns, except that no
Borrower may assign or transfer any of its rights or obligations hereunder without the prior written consent of the Agent. 

6.06 Counterparts. This Amendment may be executed in one or more counterparts, each of which when so executed shall be
deemed to be an original, but all of which when taken together shall constitute one and the same instrument. 
 6.07
Effect of Waiver. No consent or waiver, express or implied, by Lenders or the Agent to or for any breach of or deviation from any covenant or condition by any Borrower shall be deemed a consent to or waiver of any other breach of the same
or any other covenant, condition or duty. 
 6.08 Headings. The headings, captions, and arrangements used in this
Amendment are for convenience only and shall not affect the interpretation of this Amendment. 

 6.09 Applicable Law. THIS AMENDMENT AND ALL OTHER AGREEMENTS EXECUTED PURSUANT
HERETO SHALL BE DEEMED TO HAVE BEEN MADE AND TO BE PERFORMABLE IN AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS. 
 6.10 Final Agreement. THE CREDIT AGREEMENT AND THE OTHER DOCUMENTS, EACH AS AMENDED HEREBY, REPRESENT THE ENTIRE EXPRESSION OF THE PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF ON THE DATE
THIS AMENDMENT IS EXECUTED. THE CREDIT AGREEMENT AND THE OTHER DOCUMENTS, AS AMENDED HEREBY, MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN
THE PARTIES. NO MODIFICATION, RESCISSION, WAIVER, RELEASE OR AMENDMENT OF ANY PROVISION OF THIS AMENDMENT SHALL BE MADE, EXCEPT BY A WRITTEN AGREEMENT SIGNED BY THE BORROWERS AND THE AGENT. 

6.11 Release. EACH BORROWER HEREBY ACKNOWLEDGES THAT IT HAS NO DEFENSE, COUNTERCLAIM, OFFSET, CROSS-COMPLAINT, CLAIM OR
DEMAND OF ANY KIND OR NATURE WHATSOEVER THAT CAN BE ASSERTED TO REDUCE OR ELIMINATE ALL OR ANY PART OF ITS LIABILITY TO REPAY ANY LOANS OR EXTENSIONS OF CREDIT FROM AGENT AND LENDERS TO SUCH BORROWER UNDER THE CREDIT AGREEMENT OR THE OTHER DOCUMENTS
OR TO SEEK AFFIRMATIVE RELIEF OR DAMAGES OF ANY KIND OR NATURE FROM LENDERS AND THE AGENT. EACH BORROWER HEREBY VOLUNTARILY AND KNOWINGLY RELEASES AND FOREVER DISCHARGES LENDERS, THE AGENT, THEIR PREDECESSORS, AGENTS, EMPLOYEES, SUCCESSORS AND
ASSIGNS, FROM ALL POSSIBLE CLAIMS, DEMANDS, ACTIONS, CAUSES OF ACTION, DAMAGES, COSTS, EXPENSES, AND LIABILITIES WHATSOEVER, KNOWN OR UNKNOWN, ANTICIPATED OR UNANTICIPATED, SUSPECTED OR UNSUSPECTED, FIXED, CONTINGENT, OR CONDITIONAL, AT LAW OR IN
EQUITY, ORIGINATING IN WHOLE OR IN PART ON OR BEFORE THE DATE THIS AMENDMENT IS EXECUTED, WHICH SUCH BORROWER MAY NOW OR HEREAFTER HAVE AGAINST LENDERS AND THE AGENT, THEIR PREDECESSORS, AGENTS, EMPLOYEES, SUCCESSORS AND ASSIGNS, IF ANY, AND
IRRESPECTIVE OF WHETHER ANY SUCH CLAIMS ARISE OUT OF CONTRACT, TORT, VIOLATION OF LAW OR REGULATIONS, OR OTHERWISE, AND ARISING FROM ANY LOANS OR EXTENSIONS OF CREDIT FROM LENDERS AND THE AGENT TO SUCH BORROWER UNDER THE CREDIT AGREEMENT OR THE
OTHER DOCUMENTS, INCLUDING, WITHOUT LIMITATION, ANY CONTRACTING FOR, CHARGING, TAKING, RESERVING, COLLECTING OR RECEIVING INTEREST IN EXCESS OF THE HIGHEST LAWFUL RATE APPLICABLE, THE EXERCISE OF ANY RIGHTS AND REMEDIES UNDER THE CREDIT AGREEMENT OR
OTHER DOCUMENTS, AND NEGOTIATION FOR AND EXECUTION OF THIS AMENDMENT. 
 [REMAINDER OF
PAGE INTENTIONALLY BLANK; SIGNATURE PAGES FOLLOW.] 

 IN WITNESS WHEREOF, each of the parties hereto has executed this Amendment as of the
Effective Date. 
  

			
	BORROWERS:
	
	FLOTEK INDUSTRIES, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	CESI CHEMICAL, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	CESI MANUFACTURING, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	MATERIAL TRANSLOGISTICS, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	TELEDRIFT COMPANY
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	TURBECO, INC.,
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	AGENT AND LENDER:
	
	PNC BANK, NATIONAL ASSOCIATION
		
	By:	 	  

	Name:	 	Anita Inkollu
	Title:	 	Vice President

 CONSENT, RATIFICATION AND RELEASE 

Each of the undersigned hereby consents to the terms of the Fourth Amendment to Revolving Credit and Security Agreement dated as of
December 27, 2012 by and among by and among Flotek Industries, Inc., CESI Chemical, Inc., CESI Manufacturing, LLC, Material Translogistics, Inc., Teledrift Company, Turbeco, Inc., USA Petrovalve, Inc. and PNC Bank, National Association, as
Agent and as a Lender (the “Amendment”), confirms and ratifies the terms of that certain Guaranty dated as of September 23, 2011 executed by each of the undersigned in favor of Agent and the other Lenders. Each of the
undersigned acknowledges that its Guaranty is in full force and effect and ratifies the same, acknowledges that such undersigned has no defense, counterclaim, set-off or any other claim to diminish such undersigned’s liability under such
documents, that such undersigned’s consent is not required to the effectiveness of the within and foregoing Amendment, and that no consent by any such undersigned is required for the effectiveness of any future amendment, modification,
forbearance or other action with respect to the Obligations, the Collateral, or any of the Other Documents. EACH OF THE UNDERSIGNED HEREBY VOLUNTARILY AND KNOWINGLY RELEASES AND FOREVER DISCHARGES AGENT AND LENDERS, THEIR PREDECESSORS, AGENTS,
EMPLOYEES, SUCCESSORS AND ASSIGNS, FROM ALL POSSIBLE CLAIMS, DEMANDS, ACTIONS, CAUSES OF ACTION, DAMAGES, COSTS, EXPENSES, AND LIABILITIES WHATSOEVER, KNOWN OR UNKNOWN, ANTICIPATED OR UNANTICIPATED, SUSPECTED OR UNSUSPECTED, FIXED, CONTINGENT, OR
CONDITIONAL, AT LAW OR IN EQUITY, ORIGINATING IN WHOLE OR IN PART ON OR BEFORE THE DATE THE AMENDMENT AND THIS CONSENT ARE EXECUTED, WHICH EACH SUCH UNDERSIGNED MAY NOW OR HEREAFTER HAVE AGAINST AGENT, DOCUMENTATION AGENT OR ANY LENDER, THEIR
PREDECESSORS, AGENTS, EMPLOYEES, SUCCESSORS AND ASSIGNS, IF ANY, AND IRRESPECTIVE OF WHETHER ANY SUCH CLAIMS ARISE OUT OF CONTRACT, TORT, VIOLATION OF LAW OR REGULATIONS, OR OTHERWISE, AND ARISING FROM ANY “LOANS”, INCLUDING, WITHOUT
LIMITATION, ANY CONTRACTING FOR, CHARGING, TAKING, RESERVING, COLLECTING OR RECEIVING INTEREST IN EXCESS OF THE HIGHEST LAWFUL RATE APPLICABLE, THE EXERCISE OF ANY RIGHTS AND REMEDIES UNDER THE REVOLVING CREDIT AND SECURITY AGREEMENT, AS AMENDED BY
THE AMENDMENT, OR THE OTHER DOCUMENTS, AND NEGOTIATION FOR AND EXECUTION OF THE AMENDMENT AND THIS CONSENT. 

[REMAINDER OF PAGE INTENTIONALLY BLANK;
SIGNATURE PAGES FOLLOW.] 

 
			
	GUARANTORS:
	
	FLOTEK PAYMASTER, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	PADKO INTERNATIONAL INCORPORATED
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	PETROVALVE, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	FLOTEK INTERNATIONAL, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

 Schedule 1.2(a) 

Lender Commitments 
  

																	
	 Lender
	  	Commitment
Amount	 	  	Revolving
Advance
Commitment
Percentage	 	 	Term Loan
Commitment
Percentage	 	 	Commitment
Percentage	 
	 PNC BANK, NATIONAL ASSOCIATION
	  	$	75,000,000	  	  	 	100.00	% 	 	 	100.00	% 	 	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Total
	  	$	75,000,000	  	  	 	100	% 	 	 	0.	% 	 	 	100	% 
		  	  
	  
	 	  	  
	  
	 	 	  
	  
	 	 	  
	  
	 

 Schedule A 

 

	1.	United States Patent No. 6,676,215 (B2), entitled DOWNHOLE SEPARATOR AND METHOD, filed September 6, 2002, having Application Serial Number 10/236,348, and
issued on July 13, 2004; 

  

	2.	Canadian Patent No.2,497,929 (C), entitled DOWNHOLE SEPARATOR AND METHOD, having a priority date of September 6, 2002; 

 

	3.	Australian Patent No. 2003278716 (B2), entitled DOWNHOLE SEPARATOR AND METHOD, having a priority date of September 6, 2002; 

 

	4.	Chinese Patent No. 1327108 (C), entitled DOWNHOLE SEPARATOR AND METHOD, having a priority date of September 6, 2002; and 

 

	5.	Eurasian Patent No. 007040, entitled DOWNHOLE SEPARATOR AND METHOD, having a filing date of August 20, 2003;First Lien Guarantee and Collateral Agreement

 Exhibit 10.1 
 EXECUTION COPY 
  
  

 
 FIRST LIEN GUARANTEE AND COLLATERAL
AGREEMENT 
 dated as of 
 December 21, 2012, 
 among 

RP CROWN HOLDING, LLC, 
 RP CROWN PARENT, LLC, 
 THE SUBSIDIARIES OF RP CROWN PARENT, LLC 

IDENTIFIED HEREIN 

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

 
  

 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
		
	 ARTICLE I Definitions
	  	 	1	  
		
	 SECTION 1.01. Credit Agreement
	  	 	1	  
	 SECTION 1.02. Other Defined Terms
	  	 	1	  
		
	 ARTICLE II Guarantee
	  	 	6	  
		
	 SECTION 2.01. Guarantee
	  	 	6	  
	 SECTION 2.02. Guarantee of Payment
	  	 	7	  
	 SECTION 2.03. No Limitations
	  	 	7	  
	 SECTION 2.04. Reinstatement
	  	 	9	  
	 SECTION 2.05. Agreement To Pay; Subrogation
	  	 	10	  
	 SECTION 2.06. Information
	  	 	10	  
	 SECTION 2.07. Keepwell
	  	 	10	  
		
	 ARTICLE III Pledge of Securities
	  	 	11	  
		
	 SECTION 3.01. Pledge
	  	 	11	  
	 SECTION 3.02. Delivery of the Pledged Collateral
	  	 	11	  
	 SECTION 3.03. Representations, Warranties and Covenants
	  	 	12	  
	 SECTION 3.04. Certification of Limited Liability Company and Limited Partnership Interests
	  	 	13	  
	 SECTION 3.05. Registration in Nominee Name; Denominations
	  	 	14	  
	 SECTION 3.06. Voting Rights; Dividends and Interest
	  	 	14	  
		
	 ARTICLE IV Security Interests in Personal Property
	  	 	16	  
		
	 SECTION 4.01. Security Interest
	  	 	16	  
	 SECTION 4.02. Representations and Warranties
	  	 	19	  
	 SECTION 4.03. Covenants
	  	 	21	  
	 SECTION 4.04. Other Actions
	  	 	24	  
	 SECTION 4.05. Covenants Regarding Patent, Trademark and Copyright Collateral
	  	 	27	  
		
	 ARTICLE V Remedies
	  	 	28	  
		
	 SECTION 5.01. Remedies Upon Default
	  	 	28	  
	 SECTION 5.02. Application of Proceeds
	  	 	30	  
	 SECTION 5.03. Grant of License to Use Intellectual Property
	  	 	31	  
	 SECTION 5.04. Securities Act
	  	 	32	  

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
	 ARTICLE VI Indemnity, Subrogation and Subordination
	  	 	32	  
		
	 SECTION 6.01. Indemnity and Subrogation
	  	 	32	  
	 SECTION 6.02. Contribution and Subrogation
	  	 	33	  
	 SECTION 6.03. Subordination
	  	 	33	  
		
	 ARTICLE VII Miscellaneous
	  	 	33	  
		
	 SECTION 7.01. Notices
	  	 	33	  
	 SECTION 7.02. Waivers; Amendment
	  	 	34	  
	 SECTION 7.03. Administrative Agent’s Fees and Expenses; Indemnification
	  	 	34	  
	 SECTION 7.04. Successors and Assigns
	  	 	35	  
	 SECTION 7.05. Survival of Agreement
	  	 	35	  
	 SECTION 7.06. Counterparts; Effectiveness; Several Agreement.
	  	 	35	  
	 SECTION 7.07. Severability
	  	 	36	  
	 SECTION 7.08. Right of Set-Off
	  	 	36	  
	 SECTION 7.09. Governing Law; Jurisdiction; Consent to Service of Process
	  	 	36	  
	 SECTION 7.10. WAIVER OF JURY TRIAL
	  	 	37	  
	 SECTION 7.11. Headings
	  	 	37	  
	 SECTION 7.12. Security Interest Absolute
	  	 	37	  
	 SECTION 7.13. Termination or Release
	  	 	38	  
	 SECTION 7.14. Additional Loan Parties
	  	 	38	  
	 SECTION 7.15. Administrative Agent Appointed Attorney-in-Fact
	  	 	39	  
	 SECTION 7.16. Intercreditor Agreement; Conflicts
	  	 	40	  

  
 ii 

					
	Schedules	  		  	
			
	Schedule I	  	Equity Interests; Debt Securities	  	
			
	Exhibits	  		  	
			
	Exhibit I	  	Form of New Subsidiary Supplement	  	
	Exhibit II	  	Form of Patent Security Agreement	  	
	Exhibit III	  	Form of Trademark Security Agreement	  	
	Exhibit IV	  	Form of Copyright Security Agreement	  	

  
 iii

 FIRST LIEN GUARANTEE AND COLLATERAL AGREEMENT dated as of December 21, 2012
(this “Agreement”), among RP CROWN HOLDING, LLC, a Delaware limited liability company, RP CROWN PARENT, LLC, a Delaware limited liability company, the Subsidiaries of RP CROWN PARENT, LLC party hereto and CREDIT SUISSE AG, CAYMAN
ISLANDS BRANCH, as Administrative Agent. 
 Reference is made to the First Lien Credit Agreement dated as of December 14,
2012 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among RP CROWN HOLDING, LLC, a Delaware limited liability company (“Holdings”), RP CROWN PARENT, LLC, a Delaware
limited liability company (the “Borrower”), the Lenders party thereto and Credit Suisse AG, Cayman Islands Branch, as Administrative Agent. The Lenders have agreed to extend credit to the Borrower subject to the terms and conditions
set forth in the Credit Agreement. The obligations of the Lenders to extend such credit are conditioned upon, among other things, the execution and delivery of this Agreement. Holdings and the Subsidiary Parties (as defined herein) are affiliates of
the Borrower, will derive substantial benefits from the extension of credit to the Borrower pursuant to the Credit Agreement and are willing to execute and deliver this Agreement in order to induce the Lenders to extend such credit. Accordingly, the
parties hereto agree as follows: 
 ARTICLE I 
 Definitions 
 SECTION 1.01. Credit Agreement. (a) Capitalized
terms used in this Agreement and not otherwise defined herein have the meanings specified in the Credit Agreement. All terms defined in the New York UCC (as such term is defined herein) and not defined in this Agreement have the meanings specified
therein; the term “instrument” shall have the meaning specified in Article 9 of the New York UCC. 
 (b) The
rules of construction specified in Sections 1.03 and 1.04 of the Credit Agreement also apply to this Agreement. 
 SECTION 1.02.
Other Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 

“Account Debtor” means any Person who is or who may become obligated to any Grantor under, with respect to or on account
of an Account. 
 “Article 9 Collateral” has the meaning assigned to such term in Section 4.01.

 “Bankruptcy Law” means the Bankruptcy Code or any other foreign, federal or state bankruptcy, insolvency,
receivership or similar law. 
 “Borrower” has the meaning assigned to such term in the preliminary statement
of this Agreement. 

 “Claiming Party” has the meaning assigned to such term in
Section 6.02. 
 “Collateral” means Article 9 Collateral and Pledged Collateral. 

“Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and
any successor statute. 
 “Contractual Obligation” means, as to any Person, any obligation of such Person under
any provision of any security issued by such Person or of any agreement, undertaking, contract, indenture, mortgage, deed of trust or other instrument, document or agreement to which such Person is a party or by which it or any of its property is
bound. 
 “Contributing Party” has the meaning assigned to such term in Section 6.02. 

“Copyrights” has the meaning assigned to such term in the definition of Intellectual Property herein. 

“Credit Agreement” has the meaning assigned to such term in the preliminary statement of this Agreement. 

“Excluded Assets” has the meaning assigned to such term in Section 4.01. 

“Excluded Equipment” means assets of a Grantor which are subject to, or secured by, a Capital Lease Obligation or
purchase money security interest which is permitted under the Credit Agreement if and to the extent, and only to the extent, that the agreements granting or governing such Capital Lease Obligation or purchase money security interest prohibit an
assignment of such assets, or a grant of a security interest in such assets, by a Grantor, or would give any other party to such Capital Lease Obligation or purchase money security interest the right to terminate its obligations thereunder (other
than to the extent that any such term would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the Uniform Commercial Code (or any successor provision or provisions) of any relevant jurisdiction or any other applicable law
(including Bankruptcy Laws) or principles of equity); provided that all Proceeds paid or payable to any Grantor from any sale, transfer or assignment or other voluntary or involuntary disposition of such assets and all rights to receive such
proceeds shall be included in the Collateral to the extent not otherwise required to be paid to the holder of such Capital Lease Obligation or other purchase money security interest secured by such assets. 

“Excluded Equity Interests” has the meaning assigned to such term in Section 3.01. 

“Excluded Swap Obligation” means, with respect to any Guarantor, any obligation (a “Swap Obligation”) to pay
or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act, if, and to the extent that, all or a portion of the Guarantee of such Guarantor of, or
the grant by such Guarantor of a security interest to secure, such 

  
 2 

 
Swap Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application
or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason not to constitute an “eligible contract participant” as defined in the Commodity Exchange Act. 

“Exempt Deposit Accounts” means (i) Deposit Accounts the balance of which consists solely and exclusively of
(a) withheld income taxes and federal, state or local employment or payroll taxes in such amounts as are required to be paid to the Internal Revenue Service or state or local government agencies with respect to employees of any of the Loan
Parties, and (b) amounts required to be paid over to an employee benefit plan (including flexible spending plans) on behalf of or for the benefit of employees of any of the Loan Parties, and (ii) Deposit Accounts the balance of which
consists solely and exclusively of funds set aside for purposes of funding payroll or employment checks (or analogous electronic payments). 
 “Federal Securities Laws” has the meaning assigned to such term in Section 5.04. 
 “General Intangibles” means all choses in action and causes of action and all other intangible personal property of every kind and nature (other than Accounts) now owned or hereafter
acquired by any Grantor and all other “general intangibles” and “payment intangibles”, each as defined in the New York UCC (other than Accounts), including all rights and interests in partnerships, limited partnerships, limited
liability companies and other unincorporated entities, corporate or other business records, indemnification claims, contract rights (including rights under leases, whether entered into as lessor or lessee, Swap Agreements and other agreements),
Intellectual Property, Software, goodwill, registrations, franchises, tax refund claims and any letter of credit, guarantee, claim, security interest or other security held by or granted to any Grantor to secure payment by an Account Debtor of any
of the Accounts. 
 “Grantors” means Holdings, the Borrower and the Subsidiary Parties. 

“Guaranteed Obligations” shall mean all Obligations; provided, however, that Guaranteed Obligations consisting of
obligations of any Loan Party arising under any Swap Agreement shall exclude all Excluded Swap Obligations. 

“Guarantors” means Holdings and the Subsidiary Parties. 

“Holdings” has the meaning assigned to such term in the preliminary statement of this Agreement. 

“Intellectual Property” means the collective reference to all rights, title and interest in or relating to intellectual
property and industrial property (other than Accounts), whether arising under United States, multinational or foreign laws or otherwise, including (a) all copyrights, mask work rights, database rights and design rights, whether or not
registered or published, all registrations and recordings thereof and all applications in connection therewith, together with all renewals, continuations, 

  
 3 

 
reversions and extensions thereof and all rights to obtain such renewals, continuations, reversions and extensions (collectively, “Copyrights”), (b) all letters patent, all
applications for such letters patent and all divisionals, continuations and continuations-in-part thereof, together with all reissues, reexaminations, renewals and extensions of the foregoing, and all rights to obtain such divisionals,
continuations, continuations-in-part, reissues, reexaminations, renewals and extensions (collectively, “Patents”), (c) all trademarks, trade names, corporate names, company names, business names, fictitious business names,
trade styles, service marks, logos and other source or business identifiers (and, in each case, all goodwill associated therewith and all registrations and recordation thereof and all applications in connection therewith), together with all renewals
and extensions thereof and all rights to obtain such renewals and extensions (collectively, “Trademarks”), (d) all trade secrets, (e) all Internet domain names, (f) all Contractual Obligations providing for the grant
of any right to or under any Intellectual Property (collectively, “Licenses”) and (g) all rights to sue at law or in equity for any past, present and future infringement, misappropriation, dilution, violation or other
impairment thereof, including the right to receive all income, royalties, proceeds and damages therefrom, whether now or hereafter due or payable. 
 “Licenses” has the meaning assigned to such term in the definition of Intellectual Property herein. 
 “Loan Document Obligations” means (a) the due and punctual payment by the Borrower of (i) the principal of and interest (including interest accruing during the pendency of any
bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or
otherwise, (ii) each payment required to be made by the Borrower under the Credit Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon (including
interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and obligations to provide cash collateral, and (iii) all other
monetary obligations of the Borrower to any of the Secured Parties under the Credit Agreement and each of the other Loan Documents, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether
primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such
proceeding), (b) the due and punctual performance of all other obligations of the Borrower under or pursuant to the Credit Agreement and each of the other Loan Documents, and (c) the due and punctual payment and performance of all the
obligations of each other Loan Party under or pursuant to this Agreement and each of the other Loan Documents. 
 “New
York UCC” means the Uniform Commercial Code as from time to time in effect in the State of New York. 

  
 4 

 “Obligations” means (a) Loan Document Obligations, (b) any
obligations in respect of overdrafts and related liabilities owed to a Lender or an Affiliate of a Lender arising from purchasing cards, treasury, depositary or cash management services (in an amount not to exceed $20,000,000 outstanding at any
time) and (c) the due and punctual payment and performance of all obligations of each Loan Party under each Swap Agreement that (i) is in effect on the Effective Date with a counterparty that is a Lender or an Affiliate of a Lender as of
the Effective Date or (ii) is entered into after the Effective Date with any counterparty that is a Lender or an Affiliate of a Lender at the time such Swap Agreement is entered into (each such Swap Agreement, a “Secured Swap
Agreement”). 
 “Patents” has the meaning assigned to such term in the definition of Intellectual
Property herein. 
 “Perfection Certificate” means the Perfection Certificate delivered pursuant to the Credit
Agreement, completed and supplemented with the schedules and attachments contemplated thereby, and duly executed by the chief executive officer, the chief financial officer, the treasurer, any executive or senior vice president, the general counsel
or the chief legal officer of Borrower. 
 “Pledged Collateral” has the meaning assigned to such term in
Section 3.01. 
 “Pledged Debt Securities” has the meaning assigned to such term in Section 3.01.

 “Pledged Securities” means any promissory notes, stock certificates or other securities now or hereafter
included in the Pledged Collateral, including all certificates, instruments or other documents representing or evidencing any Pledged Collateral. 
 “Pledged Stock” has the meaning assigned to such term in Section 3.01. 
 “Proceeds” has the meaning specified in Section 9-102 of the New York UCC. 
 “Qualified ECP Guarantor” means, in respect of any Swap Obligations, each Loan Party that has total assets exceeding $10,000,000 at the time such Swap Obligations are incurred.

 “Secured Parties” means (a) the Lenders, (b) the Administrative Agent, (c) the Issuing Banks,
(d) each counterparty that is a Lender or an Affiliate of a Lender to any Swap Agreement with a Loan Party the obligations in respect of which constitute Obligations, (e) each provider that is a Lender or an Affiliate of a Lender of
purchasing cards, treasury, depository or cash management services the liabilities in respect of which constitute Obligations, (f) the beneficiaries of each indemnification obligation undertaken by any Loan Party under any Loan Document and
(g) the successors and permitted assigns of each of the foregoing. 

  
 5 

 “Secured Swap Agreement” has the meaning assigned to such term in the
definition of Obligation herein. 
 “Security Interest” has the meaning assigned to such term in
Section 4.01. 
 “Software” means any and all computer programs, including any and all software
implementations of algorithms, models and methodologies, whether in source code or object code; databases and compilations, including any and all data and collections of data, whether machine readable or otherwise; descriptions, flow-charts and
other work product used to design, plan, organize and develop any of the foregoing, screens, user interfaces, report formats, firmware, development tools, templates, menus, buttons and icons; and all documentation including user manuals and other
training documentation related to any of the foregoing. 
 “Subsidiary Parties” means (a) the Subsidiaries
party hereto and (b) each other Subsidiary that becomes a party to this Agreement as a Subsidiary Party after the Effective Date pursuant to Section 7.14. 
 “Swap Obligation” has the assigned to such term in the definition of Excluded Swap Obligation herein. 
 “Trademarks” has the meaning assigned to such term in the definition of Intellectual Property herein. 
 “Unfunded Advances/Participations” means (a) with respect to the Administrative Agent, the aggregate amount, if any (i) made available to the Borrower on the assumption that
each Lender has made its share of the applicable Borrowing available to the Administrative Agent as contemplated by Section 2.05(b) of the Credit Agreement and (ii) with respect to which a corresponding amount shall not in fact have been
returned to the Administrative Agent by the Borrower or made available to the Administrative Agent by any such Lender and (b) with respect to any Issuing Bank, the aggregate amount, if any, of participations in respect of any outstanding L/C
Disbursement that shall not have been funded by the Revolving Lenders in accordance with Sections 2.04(d) and 2.04(e) of the Credit Agreement. 
 ARTICLE II 
 Guarantee 

SECTION 2.01. Guarantee. Each Guarantor unconditionally and irrevocably guarantees, jointly with the other Guarantors and
severally, as a primary obligor and not merely as a surety, the due and punctual payment and performance of the Guaranteed Obligations. Each of the Guarantors further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in
part, without notice to or further assent from it, and that it will remain bound upon its guarantee notwithstanding any extension or renewal of any Guaranteed Obligation. Each of the Guarantors waives presentment to, demand of payment (except as
expressly specified in the Credit Agreement) from and protest to the Borrower or any other Loan Party of any of the 

  
 6 

 
Guaranteed Obligations, and also waives notice of acceptance of its guarantee and notice of protest for nonpayment. Notwithstanding anything contained herein to the contrary, the Guaranteed
Obligations of each Guarantor at any time shall be limited to the maximum amount as will result in the Guaranteed Obligations of such Guarantor under this Agreement not constituting a fraudulent transfer or conveyance for purposes of any Bankruptcy
Law to the extent applicable to this Agreement and the Guaranteed Obligations of such Guarantor hereunder. 
 SECTION 2.02.
Guarantee of Payment. Each of the Guarantors further agrees that its guarantee hereunder constitutes a guarantee of payment when due and not of collection, and waives any right to require that any resort be had by the Administrative Agent or
any other Secured Party to any security held for the payment of the Guaranteed Obligations or to any balance of any deposit account or credit on the books of the Administrative Agent or any other Secured Party in favor of the Borrower or any other
Person. 
 SECTION 2.03. No Limitations. (a) Except for termination of a Guarantor’s obligations hereunder as
expressly provided in Section 7.13 and subject to the last sentence of Section 2.01, the obligations of each Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including any
claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense or set-off, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of the Guaranteed
Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor hereunder shall be valid and enforceable and shall not be discharged, terminated, reduced or impaired or otherwise affected by, whether or
not any Guarantor shall have had notice or knowledge of any of them, (i) the failure of the Administrative Agent or any other Secured Party to assert any claim or demand or to enforce any right or remedy under the provisions of any Loan
Document or otherwise; (ii) any rescission, waiver, amendment or modification of, or any release from any of the terms or provisions of, any Loan Document or any other agreement, including with respect to any other Guarantor under this
Agreement; (iii) the release of any security held by the Administrative Agent or any other Secured Party for the Guaranteed Obligations or any of them; (iv) any default, failure or delay, willful or otherwise, in the performance of the
Guaranteed Obligations; (v) the existence of any dispute between the Borrower and any Secured Party with respect to the existence of any Event of Default; or (vi) any other act or omission that may or might in any manner or to any extent
vary the risk of any Guarantor or otherwise operate as a discharge of any Guarantor as a matter of law or equity (other than the indefeasible payment in full in cash of all the Guaranteed Obligations). Each Guarantor expressly authorizes the Secured
Parties to exchange, waive or release any or all such security now or hereafter held by or for the benefit of any Secured Party in respect of this Guarantee (with or without consideration), to enforce or apply such security and direct the order and
manner of any sale thereof in their sole discretion or to release or substitute any one or more other guarantors or obligors upon or in respect of the Guaranteed Obligations, all without affecting the obligations of any Guarantor hereunder.

  
 7 

 (b) To the fullest extent permitted by applicable law, each Guarantor waives for the ratable
benefit of the Secured Parties (i) any defense based on or arising out of any defense of the Borrower or any other Loan Party or the unenforceability of the Guaranteed Obligations or any part thereof from any cause, or the cessation from any
cause of the liability of the Borrower or any other Loan Party, other than the indefeasible payment in full in cash of all the Guaranteed Obligations; (ii) any right to require any Secured Party, as a condition of payment or performance by such
Guarantor, to (A) proceed against the Borrower, any other guarantor (including any other Guarantor) of the Guaranteed Obligations or any other Person, (B) proceed against or exhaust any security held from the Borrower, any such other
guarantor or any other Person, (C) proceed against or have resort to any balance of any deposit account or credit on the books of any Secured Party in favor of the Borrower or any other Person, or (D) pursue any other remedy in the power
of any Secured Party whatsoever; (iii) any defense based upon any statute or rule of law which provides that the obligation of a surety must be neither larger in amount nor in other respects more burdensome than that of the principal;
(iv) any defense based upon any Secured Party’s errors or omissions in the administration of the Guaranteed Obligations, except behavior which amounts to gross negligence or willful misconduct; (v) (A) any principles or
provisions of law, statutory or otherwise, which are or might be in conflict with the terms hereof and any legal or equitable discharge of such Guarantor’s obligations hereunder, (B) the benefit of any statute of limitations affecting such
Guarantor’s liability hereunder or the enforcement hereof, (C) any rights to set offs, recoupments and counterclaims, and (D) promptness, diligence and any requirement that any Secured Party protect, secure, perfect or insure any
security interest or lien or any property subject thereto; (vi) except as expressly specified in the Credit Agreement, notices, demands, presentments, protests, notices of protest, notices of dishonor and notices of any action or inaction,
including acceptance hereof, notices of default hereunder, the Swap Agreements or any agreement or instrument related thereto, notices of any renewal, extension or modification of the Guaranteed Obligations or any agreement related thereto, notices
of any extension of credit to the Borrower and notices of any of the matters referred to in this Section 2.03 and any right to consent to any thereof; and (vii) any defenses or benefits that may be derived from or afforded by law which
limit the liability of or exonerate guarantors or sureties, or which may conflict with the terms hereof. 
 (c) Each Guarantor
agrees that its obligations hereunder are irrevocable, absolute, independent and unconditional and shall not be affected by any circumstance which constitutes a legal or equitable discharge of a guarantor or surety other than the indefeasible
payment in full in cash of the Guaranteed Obligations. In furtherance of the foregoing and without limiting the generality thereof, each Guarantor agrees as follows: 

(i) Each Guarantor agrees that the obligations of each Guarantor hereunder are independent of the obligations of the
Borrower and the obligations of any other guarantor (including any other Guarantor) of the obligations of the Borrower, and a separate action or actions may be brought and prosecuted against such Guarantor whether or not any action is brought
against the Borrower or any of such other guarantors and whether or not the Borrower is joined in any such action or actions; 

  
 8 

 (ii) payment by any Guarantor of a portion, but not all, of the Guaranteed
Obligations shall in no way limit, affect, modify or abridge any Guarantor’s liability for any portion of the Guaranteed Obligations which has not been paid; and without limiting the generality of the foregoing, if the Administrative Agent is
awarded a judgment in any suit brought to enforce any Guarantor’s covenant to pay a portion of the Guaranteed Obligations, such judgment shall not be deemed to release such Guarantor from its covenant to pay the portion of the Guaranteed
Obligations that is not the subject of such suit, and such judgment shall not, except to the extent satisfied by such Guarantor, limit, affect, modify or abridge any other Guarantor’s liability hereunder in respect of the Guaranteed
Obligations; and 
 (iii) any Secured Party, upon such terms as it deems appropriate, without notice or demand
and without affecting the validity or enforceability hereof or giving rise to any reduction, limitation, impairment, discharge or termination of any Guarantor’s liability hereunder, from time to time may (i) renew, extend, accelerate,
increase the rate of interest on, or otherwise change the time, place, manner or terms of payment of the Guaranteed Obligations; (ii) settle, compromise, release or discharge, or accept or refuse any offer of performance with respect to, or
substitutions for, the Guaranteed Obligations or any agreement relating thereto and/or subordinate the payment of the same to the payment of any other obligations; (iii) request and accept other guaranties of the Guaranteed Obligations and take
and hold security for the payment hereof or the Guaranteed Obligations; (iv) release, surrender, exchange, substitute, compromise, settle, rescind, waive, alter, subordinate or modify, with or without consideration, any security for payment of
the Guaranteed Obligations, any other guaranties of the Guaranteed Obligations, or any other obligation of any Person (including any other Guarantor) with respect to the Guaranteed Obligations; (v) enforce and apply any security now or
hereafter held by or for the benefit of such Secured Party in respect hereof or the Guaranteed Obligations and direct the order or manner of sale thereof, or exercise any other right or remedy that such Secured Party may have against any such
security, in each case as such Secured Party in its discretion may determine consistent herewith or the applicable Swap Agreement and any applicable security agreement, including foreclosure on any such security pursuant to one or more judicial or
nonjudicial sales, whether or not every aspect of any such sale is commercially reasonable, and even though such action operates to impair or extinguish any right of reimbursement or subrogation or other right or remedy of any Guarantor against the
Borrower or any security for the Guaranteed Obligations; and (vi) exercise any other rights or remedies available to it under the Loan Documents or Swap Agreements. 
 SECTION 2.04. Reinstatement. Each of the Guarantors agrees that its guarantee hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part
thereof, of any Guaranteed Obligation is rescinded or must otherwise be restored by the Administrative Agent or any other Secured Party upon the bankruptcy or reorganization of the Borrower, any other Loan Party or otherwise. 

  
 9 

 SECTION 2.05. Agreement To Pay; Subrogation. In furtherance of the foregoing and not
in limitation of any other right that the Administrative Agent or any other Secured Party has at law or in equity against any Guarantor by virtue hereof, upon the failure of the Borrower or any other Loan Party to pay any Guaranteed Obligation when
and as the same shall become due, whether at maturity, by acceleration, after notice of prepayment or otherwise, each Guarantor hereby promises to and will forthwith pay, or cause to be paid, to the Administrative Agent for distribution to the
applicable Secured Parties in cash the amount of such unpaid Guaranteed Obligation plus any accrued and unpaid interest on such Guaranteed Obligation (including interest which, but for the Borrower’s becoming the subject of a case under the
Bankruptcy Code, would have accrued on such Guaranteed Obligations whether or not such claim is allowed against the Borrower for such interest in the related bankruptcy case). Upon payment by any Guarantor of any sums to the Administrative Agent as
provided above, all rights of such Guarantor against the Borrower or any other Loan Party arising as a result thereof by way of right of subrogation, contribution, reimbursement, indemnity or otherwise shall in all respects be subject to
Article VI. If any payment shall be required to be made to any Secured Party under this Agreement, each Guarantor hereby unconditionally and irrevocably agrees that it will contribute, to the maximum extent permitted by law, such amounts to
each other Guarantor and the Borrower so as to maximize the aggregate amount paid to the Secured Parties under or in connection with the Loan Documents. 
 SECTION 2.06. Information. Each Guarantor assumes all responsibility for being and keeping itself informed of the Borrower’s and each other Loan Party’s financial condition and assets,
and of all other circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations and the nature, scope and extent of the risks that such Guarantor assumes and incurs hereunder, and agrees that none of the Administrative Agent or the
other Secured Parties will have any duty to advise such Guarantor of information known to it or any of them regarding such circumstances or risks. 
 SECTION 2.07. Keepwell. Each Qualified ECP Guarantor hereby jointly and severally absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from
time to time by each other Loan Party to honor all of its obligations under this Guarantee in respect of Swap Obligations (provided, however, that each Qualified ECP Guarantor shall only be liable under this Section 2.07 for the maximum amount
of such liability that can be hereby incurred without rendering its obligations under this Section 2.07, or otherwise under this Guarantee, as it relates to such Loan Party, voidable under applicable law relating to fraudulent conveyance or
fraudulent transfer, and not for any greater amount). The obligations of each Qualified ECP Guarantor under this Section shall remain in full force and effect until the termination and release of all Guaranteed Obligations in accordance with
Section 7.13. Each Qualified ECP Guarantor intends that this Section 2.07 constitute, and this Section 2.07 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Loan Party
for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 

  
 10 

 ARTICLE III 
 Pledge of Securities 
 SECTION 3.01. Pledge. As security for the
payment or performance, as the case may be, in full of the Obligations, each Grantor hereby assigns and pledges to the Administrative Agent, its successors and assigns, for the ratable benefit of the Secured Parties, and hereby grants to the
Administrative Agent, its successors and assigns, for the ratable benefit of the Secured Parties, a security interest in all of such Grantor’s right, title and interest in, to and under (a) the shares of capital stock and other Equity
Interests owned by it on the date hereof (including all such shares of capital stock and other Equity Interests listed on Schedule I) and any other Equity Interests obtained in the future by such Grantor in a Person that is or becomes a Subsidiary
of such Grantor and the certificates representing all such Equity Interests (the “Pledged Stock”), provided that the Pledged Stock shall not include (i) more than 65% of the issued and outstanding voting Equity Interests
of any Foreign Subsidiary directly held by a Loan Party, (ii) any Equity Interests of any Foreign Subsidiary not directly held by a Loan Party, (iii) Equity Interests in any Foreign Subsidiary to the extent a pledge of such Equity
Interests is illegal or otherwise prohibited by applicable law or (iv) Equity Interests in Unrestricted Subsidiaries or in entities where such Grantor holds 50% or less of the outstanding Equity Interests of such entity, to the extent a pledge
of such Equity Interests is prohibited by the organizational documents or agreements with the other equity holders of such Unrestricted Subsidiary or entity (the Equity Interests described in the clauses (i), (ii), (iii) and (iv) being
referred to as “Excluded Equity Interests”); (b)(i) the debt securities held by such Grantor on the date hereof (including all such debt securities listed opposite the name of such Grantor on Schedule I), (ii) any
debt securities or intercompany loans or advances in the future issued to or held by such Grantor and (iii) the promissory notes and any other instruments evidencing such debt securities (the “Pledged Debt Securities”);
(c) subject to Section 3.06, all payments of principal or interest, dividends, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of, in exchange for or upon the conversion of,
and all other Proceeds received in respect of, the securities referred to in clauses (a) and (b) above; (d) subject to Section 3.06, all rights and privileges of such Grantor with respect to the securities and other property
referred to in clauses (a), (b) and (c) above; and (e) all Proceeds of any of the foregoing (the items referred to in clauses (a) through (e) above being collectively referred to as the “Pledged
Collateral”). 
 TO HAVE AND TO HOLD the Pledged Collateral, together with all right, title, interest, powers,
privileges and preferences pertaining or incidental thereto, unto the Administrative Agent, its successors and assigns, for the ratable benefit of the Secured Parties, forever, subject, however, to the terms, covenants and conditions
hereinafter set forth. 
 SECTION 3.02. Delivery of the Pledged Collateral. (a) Each Grantor agrees to deliver or
cause to be delivered to the Administrative Agent (i) on the Effective Date any and all Pledged Securities in existence as of the Effective Date and (ii) promptly (and in any event, within 20 days after receipt thereof) any and all Pledged
Securities acquired after the Effective Date. 

  
 11 

 (b) Each Grantor will cause any Indebtedness for borrowed money owed to such Grantor by any
Person (other than Indebtedness with an outstanding principal amount of less than the U.S. Dollar Equivalent of $3,000,000 in the aggregate owed to such Grantor by any Person that is not Holdings, the Borrower or a Subsidiary) to be evidenced
by a duly executed promissory note that is pledged and delivered to the Administrative Agent pursuant to the terms hereof. 

(c) Upon delivery to the Administrative Agent, (i) any Pledged Securities shall be accompanied by stock powers or note powers, as
applicable, duly executed in blank or other instruments of transfer reasonably satisfactory to the Administrative Agent and by such other instruments and documents as the Administrative Agent may reasonably request and (ii) all other property
comprising part of the Pledged Collateral shall be accompanied by proper instruments of assignment duly executed by the applicable Grantor and such other instruments or documents as the Administrative Agent may reasonably request. Each delivery of
Pledged Securities shall be accompanied by a schedule describing the securities, which schedule shall be attached hereto as Schedule I and made a part hereof, provided that failure to attach any such schedule hereto shall not affect the
validity of such pledge of such Pledged Securities. Each schedule so delivered shall supplement any prior schedules so delivered. 
 SECTION 3.03. Representations, Warranties and Covenants. The Grantors jointly and severally represent, warrant and covenant to and with the Administrative Agent, for the ratable benefit of the
Secured Parties, that: 
 (a) Schedule I correctly sets forth the percentage of the issued and outstanding
shares of each class of the Equity Interests of the issuer thereof represented by such Pledged Stock and includes all Equity Interests, debt securities and promissory notes required to be pledged hereunder in order to satisfy the Collateral and
Guarantee Requirement; 
 (b) the Pledged Stock and Pledged Debt Securities have been duly and validly
authorized and issued by the issuers thereof and (i) in the case of Pledged Stock, are (except as disclosed on Schedule I) fully paid and nonassessable and (ii) in the case of Pledged Debt Securities, are legal, valid and binding
obligations of the issuers thereof, except as limited by Bankruptcy Laws and equitable principles; 
 (c) except
for the security interests granted hereunder, each of the Grantors (i) is and, subject to any transfers permitted by the Loan Documents, will continue to be the direct owner, beneficially and of record, of the Pledged Securities indicated on
Schedule I as owned by such Grantor, (ii) holds the same free and clear of all Liens, other than Liens permitted under the Loan Documents, (iii) will make no assignment, pledge, hypothecation or transfer of, or create or permit to
exist any security interest in or other Lien on, the Pledged Collateral, 

  
 12 

 
other than Liens permitted under the Loan Documents, and (iv) will defend its title or interest thereto or therein against any and all Liens (other than the Liens permitted by the Loan
Documents), however arising, of all Persons whomsoever; 
 (d) except for restrictions and limitations imposed
by the Loan Documents or securities laws generally or as disclosed on Schedule I, the Pledged Collateral is and will continue to be freely transferable and assignable, and none of the Pledged Collateral is or will be subject to any option, right of
first refusal, shareholders agreement, charter or by-law provisions or contractual restriction of any nature that might prohibit, impair, delay or otherwise affect the pledge of such Pledged Collateral hereunder, the sale or disposition thereof
pursuant hereto or the exercise by the Administrative Agent of rights and remedies hereunder; 
 (e) each of the
Grantors has the power and authority to pledge the Pledged Collateral pledged by it hereunder in the manner hereby done or contemplated; 
 (f) no consent or approval of any Governmental Authority, any securities exchange or any other Person was or is necessary to the validity of the pledge effected hereby (except as may be required in
connection with such disposition of Pledged Securities by laws affecting the offering and sale of securities generally and other than such as have been obtained and are in full force and effect); and 

(g) by virtue of the execution and delivery by the Grantors of this Agreement, (i) when any Pledged Security that is
certificated is delivered to the Administrative Agent in accordance with this Agreement, the Administrative Agent will obtain a legal, valid and perfected lien, free of any adverse claim, upon and security interest in such Pledged Security and
(ii) when the initial financing statement with respect to any Pledged Security that is not certificated pursuant to Section 3.04(b) is filed pursuant to Section 4.01(b), the Administrative Agent will obtain a legal, valid and
perfected lien free of any adverse claim other than Liens expressly permitted pursuant to Section 6.02 of the Credit Agreement, in each case as security for the payment and performance of the Obligations. 

SECTION 3.04. Certification of Limited Liability Company and Limited Partnership Interests. (a) Each Grantor acknowledges and
agrees that (i) each interest in any limited liability company or limited partnership Controlled by such Grantor, pledged hereunder and represented by a certificate shall be a “security” within the meaning of Article 8 of the New
York UCC and shall be governed by Article 8 of the New York UCC and (ii) each such interest shall at all times hereafter be represented by a certificate. 
 (b) Each Grantor further acknowledges and agrees that (i) each interest in any limited liability company or limited partnership Controlled by such Grantor, pledged hereunder and not represented by a
certificate shall not be a “security” within the meaning of Article 8 of the New York UCC and shall not be governed by Article 8 of the New York UCC, and (ii) such Grantor shall at no time elect to treat any such interest as
a “security” within the meaning of Article 8 of the New York UCC or issue any certificate representing such interest, unless such Grantor provides prior written notification to the Administrative Agent of such election and immediately
delivers any such certificate to the Administrative Agent pursuant to the terms hereof. 

  
 13 

 SECTION 3.05. Registration in Nominee Name; Denominations. Each Grantor will promptly
(and in any event within 20 days of receipt thereof) give to the Administrative Agent copies of any material notices or other material communications received by it with respect to Pledged Securities registered in the name of such Grantor. The
Administrative Agent shall, upon a reasonable request, have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any purpose consistent with this Agreement. 

SECTION 3.06. Voting Rights; Dividends and Interest. (a) Unless and until an Event of Default shall have occurred and be
continuing and the Administrative Agent shall have notified the Grantors in accordance with paragraph (d) of this Section 3.06 that their rights under this Section 3.06 are being suspended: 

(i) Each Grantor shall be entitled to exercise any and all voting and/or other consensual rights and powers inuring to an
owner of Pledged Securities or any part thereof for any purpose consistent with the terms of this Agreement, the Credit Agreement and the other Loan Documents, provided that such rights and powers shall not be exercised in any manner that
could materially and adversely affect the rights inuring to a holder of any Pledged Securities or the rights and remedies of any of the Administrative Agent or the other Secured Parties under this Agreement, the Credit Agreement or any other Loan
Document or the ability of the Secured Parties to exercise the same. 
 (ii) The Administrative Agent shall
execute and deliver to each Grantor, or cause to be executed and delivered to such Grantor, all such proxies, powers of attorney and other instruments as such Grantor may reasonably request for the purpose of enabling such Grantor to exercise the
voting and/or consensual rights and powers it is entitled to exercise pursuant to subparagraph (i) above. 

(iii) Each Grantor shall be entitled to receive and retain any and all dividends, interest, principal and other
distributions paid on or distributed in respect of the Pledged Securities to the extent and only to the extent that such dividends, interest, principal and other distributions are permitted by, and otherwise paid or distributed in accordance with,
the terms and conditions of the Credit Agreement, the other Loan Documents and applicable laws, provided that any noncash dividends, interest, principal or other distributions that would constitute Pledged Stock or Pledged Debt Securities,
whether resulting from a subdivision, combination or reclassification of the outstanding Equity Interests of the issuer of any Pledged Securities or received in exchange for Pledged Securities or any part thereof, or in redemption thereof, or as a
result of any merger, consolidation, acquisition or other exchange of assets to which such issuer may be a party or otherwise, shall be and become part of the Pledged Collateral, and, if received by any Grantor, shall not be commingled by such

  
 14 

 
Grantor with any of its other funds or property but shall be held separate and apart therefrom, shall be held in trust for the ratable benefit of the Secured Parties and shall be forthwith
delivered to the Administrative Agent in the same form as so received (with any necessary endorsement). 
 (b) Upon the
occurrence and during the continuance of an Event of Default, after the Administrative Agent shall have notified the Grantors in accordance with paragraph (d) of this Section 3.06 of the suspension of their rights under paragraph (a)(iii)
of this Section 3.06, then all rights of any Grantor to dividends, interest, principal or other distributions that such Grantor is authorized to receive pursuant to paragraph (a)(iii) of this Section 3.06 shall cease, and all such
rights shall thereupon become vested in the Administrative Agent, which shall have the sole and exclusive right and authority to receive and retain such dividends, interest, principal or other distributions. All dividends, interest, principal or
other distributions received by any Grantor contrary to the provisions of this Section 3.06 shall be held in trust for the benefit of the Administrative Agent, shall be segregated from other property or funds of such Grantor and shall be
forthwith delivered to the Administrative Agent upon demand in the same form as so received (with any necessary endorsement). Any and all money and other property paid over to or received by the Administrative Agent pursuant to the provisions of
this paragraph (b) shall be retained by the Administrative Agent in an account to be established by the Administrative Agent upon receipt of such money or other property and shall be applied in accordance with the provisions of
Section 5.02. After all Events of Default have been cured or waived and the Borrower has delivered to the Administrative Agent a certificate to that effect, the Administrative Agent shall, promptly (and in any event within 5 Business Days)
repay to each Grantor, without interest, all dividends, interest, principal or other distributions that such Grantor would otherwise be permitted to retain pursuant to the terms of paragraph (a)(iii) of this Section 3.06 and that remain in such
account. 
 (c) Upon the occurrence and during the continuance of an Event of Default, after the Administrative Agent shall have
notified the Grantors in accordance with paragraph (d) of this Section 3.06 of the suspension of their rights under paragraph (a)(i) of this Section 3.06, then all rights of any Grantor to exercise the voting and consensual rights and
powers it is entitled to exercise pursuant to paragraph (a)(i) of this Section 3.06, and the obligations of the Administrative Agent under paragraph (a)(ii) of this Section 3.06, shall cease, and all such rights shall thereupon
become vested in the Administrative Agent, which shall have the sole and exclusive right and authority to exercise such voting and consensual rights and powers, provided that, unless otherwise directed by the Required Lenders, the
Administrative Agent shall have the right from time to time following and during the continuance of an Event of Default to permit the Grantors to exercise such rights. 
 (d) Any notice given by the Administrative Agent to the Grantors suspending their rights under paragraph (a) of this Section 3.06, (i) shall be given in writing, (ii) may be given to
one or more of the Grantors at the same or different times and (iii) may suspend the rights of the Grantors under paragraph (a)(i) or paragraph (a)(iii) in part without suspending all such rights (as specified by the Administrative Agent in its
sole and absolute discretion) and without waiving or otherwise affecting the Administrative Agent’s rights to give additional notices from time to time suspending other rights so long as an Event of Default has occurred and is continuing.

  
 15 

 ARTICLE IV 
 Security Interests in Personal Property 
 SECTION 4.01. Security
Interest. (a) As security for the payment or performance, as the case may be, in full of the Obligations, each Grantor hereby assigns and pledges to the Administrative Agent, its successors and assigns, for the ratable benefit of the
Secured Parties, and hereby grants to the Administrative Agent, its successors and assigns, for the ratable benefit of the Secured Parties, a security interest (such assignment, pledge and grant of security interest, the “Security
Interest”) in all right, title or interest in or to any and all of the following assets and properties now owned or at any time hereafter acquired by such Grantor or in which such Grantor now has or at any time in the future may acquire any
right, title or interest (collectively, the “Article 9 Collateral”): 
 (i) all Accounts;

 (ii) all Chattel Paper; 

(iii) all cash and Deposit Accounts; 

(iv) all Documents; 
 (v) all Equipment; 
 (vi) all General Intangibles (including,
without limitation, all Intellectual Property); 
 (vii) all Instruments; 

(viii) all Inventory; 
 (ix) all Investment Property; 
 (x) all Software; 

(xi) all Letter-of-Credit Rights; 

(xii) all Commercial Tort Claims (as described in Schedule 12 to the Perfection Certificate); 

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

(xiv) to the extent not otherwise included, all Proceeds and products of any and all of the foregoing and all collateral
security and guarantees given by any Person with respect to any of the foregoing. 

  
 16 

 Notwithstanding anything to the contrary in this Agreement, in no event shall the Collateral
(whether the Article 9 Collateral or the Pledged Collateral) include, and no Grantor shall be deemed to have granted a Security Interest in, any of such Grantor’s right, title or interest in: 

(1) any Intellectual Property if the grant of such Security Interest shall constitute or result in (i) the
abandonment, invalidation or rendering unenforceable of any right, title or interest of any Grantor therein, (ii) the breach or termination pursuant to the terms of, or a default under, any Intellectual Property or (iii) the violation of
any applicable law (without limiting the foregoing, no Grantor shall be deemed to have granted a Security Interest in any Trademark applications filed in the United States Patent and Trademark Office on the basis of a Grantor’s
“intent-to-use” such trademark, unless and until acceptable evidence of use of such Trademark has been filed with the United States Patent and Trademark Office pursuant to Section 1(c) or Section 1(d) of the Lanham Act (15 U.S.C.
§1051, et seq.), whereupon such Trademark application will be deemed automatically included in the Article 9 Collateral, to the extent that granting the Security Interest in such Trademark application prior to such filing would adversely affect
the enforceability or validity of such Trademark application); 
 (2) any General Intangible or any lease,
license, franchise, charter, authorization, contract, property right or agreement to which any Grantor is a party or any of its rights or interests thereunder if and for so long as the grant of such Security Interest (i) shall be prohibited by
any valid and enforceable provision of any contract, agreement, instrument or indenture governing such General Intangible, lease, license contract, property right or agreement, (ii) would give any other party to such General Intangible, lease,
license, contract, property right or agreement the right to terminate its obligations thereunder, (iii) is permitted only with the consent of another party to such lease, license contract, property right or agreement, if such consent has not
been obtained after the Grantor’s use of commercially reasonable efforts to obtain such consent, (iv) shall constitute or result in the abandonment, invalidation or unenforceability of any right, title or interest of any Grantor therein,
(v) shall constitute or result in a breach or termination (or result in any party thereto having the right to terminate) pursuant to the terms of, or a default under, any such General Intangible, lease, license, contract, property right or
agreement, or (vi) shall constitute or result in a violation under any law, regulation, permit, order or decree of any Governmental Authority, unless and until all required material consents shall have been obtained in each case as to this
clause (2), other than to the extent that any such term would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the Uniform Commercial Code (or any successor provision or provisions) of any relevant jurisdiction or any
other applicable law (including Bankruptcy Laws) or 

  
 17 

 
principles of equity); provided, however, that such Security Interest shall attach immediately at such time as and, to the extent severable, to any portion of such General
Intangible, lease, license, contract, property right or agreement that does not constitute or result or no longer constitutes or results in any of the conditions or consequences specified in this clause (2); 

(3) any Excluded Equity Interests; 

(4) any Exempt Deposit Accounts; 

(5) any Excluded Equipment; 
 (6) any assets of any Grantor to the extent the Administrative Agent reasonably determines that the cost of obtaining or perfecting a security interest in such assets is excessive in relation to the
benefit expected to be afforded to the Lenders thereby; and 
 (7) any assets of any Foreign Subsidiary.

 (The items described in the foregoing clauses (1) through (7), inclusive, being referred to as
“Excluded Assets”); 
 (b) Each Grantor hereby irrevocably authorizes the Administrative Agent at any time and
from time to time to file in any relevant jurisdiction any initial financing statements (including fixture filings) with respect to the Article 9 Collateral or the Pledged Collateral or any part thereof and amendments thereto that
(i) indicate the Collateral as all assets of such Grantor or words of similar effect as being of an equal or lesser scope or with greater detail, and (ii) contain the information required by Article 9 of the Uniform Commercial Code of each
applicable jurisdiction for the filing of any financing statement or amendment, including (A) whether such Grantor is an organization, the type of organization and any organizational identification number issued to such Grantor and (B) in
the case of a financing statement filed as a fixture filing, a sufficient description of the real property to which such Article 9 Collateral relates. Each Grantor agrees to provide such information to the Administrative Agent promptly upon
reasonable request. 
 Each Grantor also ratifies its authorization for the Administrative Agent to file in any relevant
jurisdiction any initial financing statements or amendments thereto if filed prior to the date hereof. 
 The Administrative
Agent is further authorized to file with the United States Patent and Trademark Office or United States Copyright Office (or any successor office or any similar office in any other country) such documents as may be necessary or advisable for the
purpose of perfecting, confirming, continuing, enforcing or protecting the Security Interest granted by each Grantor, without the signature of any Grantor, and naming any Grantor or the Grantors as debtors and the Administrative Agent as secured
party to the extent a security interest may be perfected by filing with the United States Patent and Trademark Office or United States Copyright Office (or any successor office or any similar office in any other country). 

  
 18 

 (c) The Security Interest is granted as security only and shall not subject the
Administrative Agent or any other Secured Party to, or in any way alter or modify, any obligation or liability of any Grantor with respect to or arising out of the Article 9 Collateral or Pledged Collateral. 

(d) Notwithstanding anything herein to the contrary, (i) each Grantor shall remain liable for all obligations under the Collateral
and nothing contained herein is intended or shall be a delegation of duties to the Administrative Agent or any other Secured Party, (ii) each Grantor shall remain liable under each of the agreements included in the Collateral, including,
without limitation, any agreements relating to Pledged Stock constituting partnership interests or limited liability company interests, to perform all of the obligations undertaken by it thereunder all in accordance with and pursuant to the terms
and provisions thereof and neither the Administrative Agent nor any Secured Party shall have any obligation or liability under any of such agreements by reason of or arising out of this Agreement or any other document related thereto nor shall the
Administrative Agent nor any Secured Party have any obligation to make any inquiry as to the nature or sufficiency of any payment received by it or have any obligation to take any action to collect or enforce any rights under any agreement included
in the Collateral, including, without limitation, any agreements relating to Pledged Stock constituting partnership interests or limited liability company interests, and (iii) the exercise by the Administrative Agent of any of its rights
hereunder shall not release any Grantor from any of its duties or obligations under the contracts and agreements included in the Collateral. 
 (e) Notwithstanding anything herein to the contrary, (A) no Grantor shall be required to perfect the Security Interests granted by this Agreement (i) by means of notations on certificates of
title (or similar actions) with respect to motor vehicles and other assets subject to certificates of title, (ii) pursuant to the United States Assignment of Claims Act or analogous laws of other Governmental Authorities or (iii) if the
Administrative Agent reasonably determines that the cost of obtaining such a perfected Security Interest is excessive in relation to the benefit expected to be afforded to the Secured Parties, and (B) no Grantor shall be required (i) to
obtain any landlord waivers, estoppel or collateral access letters or (ii) to take any actions in any jurisdiction other than the United States (or any political subdivision thereof) and its territories and possessions in order to create or
perfect any Security Interests in assets located or titled outside of the United States (or any political subdivision thereof) and its territories and possessions. 
 SECTION 4.02. Representations and Warranties. The Grantors jointly and severally represent and warrant to the Administrative Agent and the Secured Parties that: 

(a) Each Grantor has good and valid rights in and title to the Article 9 Collateral that is material to the conduct of its business
with respect to which it has purported to grant a Security Interest hereunder and has full power and authority to grant to the Administrative Agent for the ratable benefit of the Secured Parties the Security Interest in such Article 9
Collateral pursuant hereto and to execute, deliver and perform its obligations in accordance with the terms of this Agreement, without the consent or approval of any other Person other than any consent or approval that has been obtained. 

  
 19 

 (b) The Perfection Certificate has been duly prepared, completed and executed and the
information set forth therein, including the exact legal name and jurisdiction of organization of each Grantor, is correct and complete as of the Effective Date. The Uniform Commercial Code financing statements or other appropriate filings,
recordings or registrations prepared by the Administrative Agent, as specified in Schedule 5 of the Perfection Certificate, based upon the information provided to the Administrative Agent in the Perfection Certificate, are all the filings,
recordings and registrations (other than filings required to be made in the United States Patent and Trademark Office and the United States Copyright Office in order to perfect the Security Interest in Article 9 Collateral consisting of United
States Patents, Trademarks and Copyrights) and any requirement of any Loan Document to register stock that are necessary to publish notice of and protect the validity of and to establish a legal, valid and perfected security interest in favor of the
Administrative Agent (for the ratable benefit of the Secured Parties) in respect of all Article 9 Collateral to the extent a Security Interest may be perfected by filing, recording or registration in the United States (or any political
subdivision thereof) and its territories and possessions, and no further or subsequent filing, refiling, recording, rerecording, registration or reregistration is necessary in any such jurisdiction, except as provided under applicable law with
respect to the filing of continuation statements. Each Grantor represents and warrants that fully executed agreements, in the form of Exhibit II, III or IV hereto, as applicable, containing a description of all Article 9 Collateral consisting
of Intellectual Property with respect to United States Patents and United States registered Trademarks (and Trademarks for which United States registration applications are pending) and United States registered Copyrights will be delivered to the
Administrative Agent for recording by the United States Patent and Trademark Office and the United States Copyright Office (pursuant to 35 U.S.C. § 261, 15 U.S.C. § 1060 or 17 U.S.C. § 205
and the regulations thereunder, as applicable, and otherwise as may be required pursuant to the laws of any other necessary jurisdiction) to protect the validity of and to establish a legal, valid and perfected security interest in favor of the
Administrative Agent (for the ratable benefit of the Secured Parties) in respect of all Article 9 Collateral consisting of United States Patents, United States Trademarks and registered United States Copyrights to the extent a security interest
may be perfected by filing, recording or registration in the United States (or any political subdivision thereof) and its territories and possessions, and no further or subsequent filing, refiling, recording, rerecording, registration or
reregistration is necessary (other than the filing of Uniform Commercial Code financing statements and such actions as are necessary to perfect the Security Interest with respect to any Article 9 Collateral consisting of United States Patents,
United States Trademarks and registered United States Copyrights (or registration or application for registration thereof) acquired or developed after the date hereof). 

  
 20 

 (c) The Security Interest constitutes (i) a legal and valid security interest in all
Article 9 Collateral to the extent a security interest therein can be created under the Uniform Commercial Code securing the payment and performance of the Obligations, (ii) subject to the filings described in Section 4.02(b), a
perfected security interest in all Article 9 Collateral to the extent a security interest may be perfected by filing, recording or registering a financing statement or analogous document in the United States (or any political subdivision
thereof) and its territories and possessions pursuant to the Uniform Commercial Code or other applicable law in such jurisdictions and (iii) a security interest that shall be perfected in all Article 9 Collateral to the extent a security
interest may be perfected upon the receipt and recording of this Agreement (or a short form of this Agreement substantially in the form of Exhibit II, III or IV hereto, as applicable) with the United States Patent and Trademark Office and the United
States Copyright Office, as applicable. The Security Interest is and shall be prior to any other Lien on any of the Article 9 Collateral, other than Permitted Encumbrances and Liens expressly permitted pursuant to Section 6.02 of the
Credit Agreement. 
 (d) Each Grantor owns the Article 9 Collateral that is material to the conduct of its business free
and clear of any Lien, except for Liens expressly permitted pursuant to Section 6.02 of the Credit Agreement. None of the Grantors has filed or consented to the filing of (i) any financing statement or analogous document under the Uniform
Commercial Code or any other applicable laws covering any Article 9 Collateral that is material to the conduct of its business, (ii) any assignment in which any Grantor assigns any Collateral or any security agreement or similar instrument
covering any Article 9 Collateral that is material to the conduct of its business with the United States Patent and Trademark Office or the United States Copyright Office or (iii) any assignment in which any Grantor assigns any
Article 9 Collateral that is material to the conduct of its business or any security agreement or similar instrument covering any Article 9 Collateral that is material to the conduct of its business with any foreign governmental, municipal
or other office, which financing statement or analogous document, assignment, security agreement or similar instrument is still in effect, except, in each case, for Liens expressly permitted pursuant to Section 6.02 of the Credit Agreement. On
the date hereof, no Grantor holds any Commercial Tort Claim in excess of $500,000, except as indicated on the Perfection Certificate. 
 SECTION 4.03. Covenants. (a) Each Grantor agrees promptly (and in any event within 20 days) to notify the Administrative Agent in writing of any change (i) in its corporate name,
(ii) in its jurisdiction of incorporation or organization, (iii) in its identity or type of organization or corporate structure or (iv) in any Loan Party’s organizational identification number. Grantor agrees to promptly (and in
any event within 20 days) provide the Administrative Agent with certified organizational documents reflecting any of the changes described in the first sentence of this paragraph. Each Grantor agrees to assist the Administrative Agent in preparing
documents reasonably deemed by the Administrative Agent as required in order for the Administrative Agent to make all filings under the Uniform Commercial Code or otherwise necessary to continue at all times following such change to have a valid,
legal and perfected first priority, other than Permitted Encumbrances and Liens expressly permitted pursuant to Section 6.02 of the Credit Agreement, security interest in all the Article 9 Collateral. Each Grantor also agrees promptly to
notify the Administrative Agent if any material portion of the Article 9 Collateral owned or held by such Grantor is damaged or destroyed. 

  
 21 

 (b) Each Grantor agrees to maintain, at its own cost and expense, such complete and accurate
records with respect to the Article 9 Collateral owned by it as is consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such
Grantor is engaged. 
 (c) Each year, at the time of delivery of annual financial statements with respect to the preceding
fiscal year pursuant to Section 5.01(a) of the Credit Agreement and quarterly financial statements with respect to the preceding quarter pursuant to Section 5.01(b) of the Credit Agreement, the Borrower shall deliver to the Administrative
Agent a certificate pursuant to Section 5.03(b) of the Credit Agreement. 
 (d) Each Grantor shall, at its own expense,
take any and all commercially reasonable actions necessary to defend title to the Article 9 Collateral that is material to the conduct of such Grantor’s business against all Persons and to defend the Security Interest of the Administrative
Agent in the Article 9 Collateral and the priority thereof against any Lien not expressly permitted pursuant to the Loan Documents. 
 (e) Each Grantor agrees, at its own expense, to execute, acknowledge, deliver and cause to be duly filed all such further instruments and documents and take all such actions as the Administrative Agent
may from time to time reasonably request to assure, preserve, protect and perfect the Security Interest and the rights and remedies created hereby, including the payment of any fees and taxes required in connection with the execution and delivery of
this Agreement, the granting of the Security Interest and assisting the Administrative Agent with the filing of any financing or continuation statements (including fixture filings) or other documents in connection herewith or therewith. If any
amount payable under or in connection with any of the Article 9 Collateral shall be or become evidenced by any promissory note or other instrument, such note or instrument shall be promptly (and in any event within 20 days) delivered to the
Administrative Agent in accordance with Section 3.02 of this Agreement, duly endorsed in a manner reasonably satisfactory to the Administrative Agent. 
 Without limiting the generality of the foregoing, each Grantor hereby authorizes the Administrative Agent, with prompt notice thereof to the Grantors, to supplement this Agreement by adding additional
schedules hereto to identify specifically any asset or item of a Grantor that may, in the Administrative Agent’s judgment, constitute Copyrights, Patents, Trademarks or Licenses; provided that any Grantor shall have the right,
exercisable within 10 days after it has been notified by the Administrative Agent of the specific identification of such Collateral, to advise the Administrative Agent in writing of any inaccuracy of the representations and warranties made by
such Grantor hereunder with respect to such Collateral. Each Grantor agrees that it will use its commercially reasonable efforts to take such action as shall be necessary in order that all representations and warranties hereunder shall be true and
correct with respect to such Collateral within 30 days after the date it has been notified by the Administrative Agent of the specific identification of such Collateral. 

  
 22 

 (f) The Administrative Agent and such Persons as the Administrative Agent may reasonably
designate shall have the right, upon reasonable prior notice and during regular business hours, to inspect the Article 9 Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any
of the Article 9 Collateral is located and to discuss the Grantors’ affairs with the officers of the Grantors and their independent accountants, all in accordance with Section 5.09 of the Credit Agreement, provided that so long
as no Event of Default has occurred and is continuing, any such visit and inspection in excess of one per calendar year shall be at the expense of the Administrative Agent or the applicable Lender. The Administrative Agent shall have the absolute
right to share any information it gains from such inspection or verification with any Secured Party. 
 (g) At its option, the
Administrative Agent may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Article 9 Collateral and not permitted pursuant to the Loan Documents, and may
pay for the maintenance and preservation of the Article 9 Collateral to the extent any Grantor fails to do so as required by the Credit Agreement or this Agreement, and each Grantor jointly and severally agrees to reimburse the Administrative
Agent on demand for any reasonable payment made or any reasonable expense incurred by the Administrative Agent pursuant to the foregoing authorization; provided that nothing in this paragraph shall be interpreted as excusing any Grantor from
the performance of, or imposing any obligation on the Administrative Agent or any Secured Party to cure or perform, any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, Liens, security interests or other
encumbrances and maintenance as set forth herein or in the other Loan Documents. 
 (h) If at any time any Grantor shall take a
security interest in any property of an Account Debtor or any other Person to secure payment and performance of an Account in an amount in excess of $2,000,000, such Grantor shall promptly (and in any event within 20 days after such taking)
notify the Administrative Agent and assign such security interest to the Administrative Agent for the ratable benefit of the Secured Parties. Such assignment need not be filed of public record unless necessary to continue the perfected status of the
security interest against creditors of and transferees from the Account Debtor or other Person granting the security interest. 

(i) None of the Grantors shall make or permit to be made an assignment, pledge or hypothecation of the Article 9 Collateral or shall
grant any other Lien in respect of the Article 9 Collateral, except as permitted by the Loan Documents. None of the Grantors shall make or permit to be made any transfer of the Article 9 Collateral and each Grantor shall remain at all times in
possession of the Article 9 Collateral owned by it, except that unless and until the Administrative Agent shall notify the Grantors in writing that an Event of Default shall have occurred and be continuing and that during the continuance thereof the
Grantors shall not sell, convey, lease, assign, transfer or otherwise dispose of any Article 9 Collateral, except in the ordinary course of business, the Grantors may use and dispose of the Article 9 Collateral in any lawful manner not inconsistent
with the provisions of this Agreement, the Credit Agreement or any other Loan Document. 

  
 23 

 (j) The Grantors, at their own expense, shall maintain or cause to be maintained insurance
covering physical loss or damage to the Inventory and Equipment in accordance with the requirements set forth in Section 5.07 of the Credit Agreement. Each Grantor irrevocably makes, constitutes and appoints the Administrative Agent (and all
officers, employees or agents designated by the Administrative Agent) as such Grantor’s true and lawful agent (and attorney-in-fact) for the purpose, during the continuance of an Event of Default, of making, settling and adjusting claims in
respect of Article 9 Collateral under policies of insurance, endorsing the name of such Grantor on any check, draft, instrument or other item of payment for the proceeds of such policies of insurance and for making all determinations and
decisions with respect thereto. In the event that any Grantor at any time or times shall fail to obtain or maintain any of the policies of insurance required hereby or under the Credit Agreement or to pay any premium in whole or part relating
thereto, the Administrative Agent may, without waiving or releasing any obligation or liability of the Grantors hereunder or any Event of Default, in its sole discretion, obtain and maintain such policies of insurance as customarily maintained by
companies of established repute engaged in the same or similar business operating in the same or similar location and pay such premium and take any other actions with respect thereto as the Administrative Agent reasonably deems advisable. All sums
disbursed by the Administrative Agent in connection with this paragraph, including reasonable attorneys’ fees, court costs, expenses and other charges relating thereto, shall be payable, upon demand, by the Grantors to the Administrative Agent
and shall be additional Obligations secured hereby. 
 (k) Each Grantor shall maintain, in form and manner reasonably
satisfactory to the Administrative Agent, records of its Chattel Paper and its books, records and documents evidencing or pertaining thereto. 
 SECTION 4.04. Other Actions. In order to further insure the attachment, perfection and priority of, and the ability of the Administrative Agent to enforce, the Security Interest, each Grantor
agrees, in each case at such Grantor’s own expense, to take the following actions with respect to the following Article 9 Collateral: 
 (a) Instruments. If any Grantor shall at any time hold or acquire any Instruments (other than checks and similar negotiable instruments obtained in the ordinary course of business) with an
individual face amount of $2,000,000 or more, such Grantor shall forthwith endorse, assign and deliver the same to the Administrative Agent, within 20 days after receipt thereof, accompanied by such instruments of transfer or assignment duly
executed in blank and such other instruments or documents as the Administrative Agent may from time to time reasonably request. 

  
 24 

 (b) Deposit Accounts. For each deposit account that any Grantor at
any time opens or maintains, such Grantor shall, within 60 days of the Effective Date (or such longer period as may be consented to by the Administrative Agent) for deposit accounts in existence on the Effective Date or within 45 days (or such
longer period as may be consented to by the Administrative Agent) of opening a deposit account not in existence on the Effective Date, cause the depositary bank to agree to comply with instructions from the Administrative Agent to such depositary
bank directing the disposition of funds from time to time credited to such deposit account, without further consent of such Grantor or any other Person, pursuant to an agreement reasonably satisfactory to the Administrative Agent. The Administrative
Agent agrees with each Grantor that the Administrative Agent shall not give any such instructions or withhold any withdrawal rights from any Grantor unless an Event of Default has occurred and is continuing or, after giving effect to any withdrawal,
would occur. The provisions of this paragraph shall not apply to (A) any deposit account for which any Grantor, the depositary bank and the Administrative Agent have entered into a cash collateral agreement specially negotiated among
such Grantor, the depositary bank and the Administrative Agent for the specific purpose set forth therein, (B) deposit accounts with an aggregate principal balance less than $2,000,000 and (C) Exempt Deposit Accounts. 

(c) Investment Property. Except to the extent otherwise provided in Article III, if any Grantor shall at any
time hold or acquire any certificated securities, such Grantor shall within 20 days of receipt thereof endorse, assign and deliver the same to the Administrative Agent subject to the proviso in Section 3.01(a) hereof, accompanied by such
instruments of transfer or assignment duly executed in blank as the Administrative Agent may from time to time reasonably specify. If any securities with an aggregate value in excess of $2,000,000 now or hereafter acquired by any Grantor are
uncertificated and are issued to such Grantor or its nominee directly by the issuer thereof, such Grantor shall promptly (and in any event within 20 days of receipt thereof) notify the Administrative Agent thereof and pursuant to an agreement
in form and substance reasonably satisfactory to the Administrative Agent, subject to the proviso in Section 3.01(a) hereof, use commercially reasonable efforts to cause the issuer to agree to comply with instructions from the Administrative
Agent as to such securities, without further consent of any Grantor or such nominee. If any securities, whether certificated or uncertificated, or other investment property now or hereafter acquired by any Grantor are held by such Grantor or its
nominee through a securities intermediary or commodity intermediary, such Grantor shall promptly (and in any event within 20 days of receipt thereof) notify the Administrative Agent thereof and pursuant to an agreement in form and substance
reasonably satisfactory to the Administrative Agent, use commercially reasonable efforts to either (i) cause such securities intermediary or (as the case may be) commodity intermediary to agree to comply with entitlement orders or other
instructions from the Administrative Agent to such securities intermediary as to such security entitlements, or (as the case may be) to apply any value distributed on account of any commodity contract as directed by the Administrative Agent to such
commodity intermediary, in each case without further consent of any Grantor or such nominee, or (ii) in the case of Financial Assets or other Investment Property 

  
 25 

 
held through a securities intermediary, arrange for the Administrative Agent to become the entitlement holder with respect to such investment property, with the Grantor being permitted, only with
the consent of the Administrative Agent, to exercise rights to withdraw or otherwise deal with such investment property. The Administrative Agent agrees with each of the Grantors that the Administrative Agent shall not give any such entitlement
orders or instructions or directions to any such issuer, securities intermediary or commodity intermediary, and shall not withhold its consent to the exercise of any withdrawal or dealing rights by any Grantor, unless an Event of Default has
occurred and is continuing. 
 (d) Electronic Chattel Paper and Transferable Records. If any Grantor at
any time holds or acquires an interest in any electronic chattel paper or any “transferable record,” with an aggregate value in excess of $2,000,000, as that term is defined in Section 201 of the Federal Electronic Signatures in
Global and National Commerce Act, or in Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Grantor shall promptly (and in any event within 20 days thereafter) notify the Administrative
Agent thereof and shall take such action to vest in the Administrative Agent control under New York UCC Section 9-105 of such electronic chattel paper or control under Section 201 of the Federal Electronic Signatures in Global and
National Commerce Act or, as the case may be, Section 16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. The Administrative Agent agrees with such Grantor that the Administrative
Agent will arrange, pursuant to procedures reasonably satisfactory to the Administrative Agent and so long as such procedures will not result in the Administrative Agent’s loss of control, for the Grantor to make alterations to the electronic
chattel paper or transferable record permitted under UCC Section 9-105 or, as the case may be, Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or Section 16 of the Uniform Electronic Transactions
Act for a party in control to allow without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Grantor with respect to such electronic chattel paper or transferable
record. 
 (e) Letter-of-Credit Rights. If any Grantor is at any time a beneficiary under a letter of
credit with a value in excess of $1,000,000 now or hereafter issued in favor of such Grantor, such Grantor shall promptly (and in any event within 20 days thereafter) notify the Administrative Agent thereof and such Grantor shall use
commercially reasonably efforts to, pursuant to an agreement in form and substance reasonably satisfactory to the Administrative Agent, either (i) arrange for the issuer and any confirmer of such letter of credit to consent to an assignment to
the Administrative Agent of the proceeds of any drawing under the letter of credit or (ii) arrange for the Administrative Agent to become the transferee beneficiary of the letter of credit, with the Administrative Agent agreeing, in each case,
that the proceeds of any drawing under the letter of credit are to be paid to the applicable Grantor unless an Event of Default has occurred or is continuing. 

  
 26 

 (f) Commercial Tort Claims. If any Grantor shall at any time hold or
acquire a commercial tort claim in an amount reasonably estimated to exceed $1,000,000, such Grantor shall promptly (and in any event within 15 days thereafter) notify the Administrative Agent thereof in a writing signed by such Grantor
including a summary description of such claim and grant to the Administrative Agent in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance
reasonably satisfactory to the Administrative Agent. 
 SECTION 4.05. Covenants Regarding Patent, Trademark and Copyright
Collateral. (a) Each Grantor agrees that it will, to the extent commercially reasonable, not do any act or omit to do any act (and will exercise commercially reasonable efforts to prevent its licensees from doing any act as omitting to do
any act) whereby any Patent that is material to the conduct of such Grantor’s business may become invalidated or dedicated to the public, and agrees that it shall continue to mark any products covered by such Patent with the relevant patent
number as necessary and sufficient to establish and preserve its maximum rights under applicable patent laws. 
 (b) Each
Grantor (either itself or through its licensees or its sublicensees) will to the extent commercially reasonable, for each Trademark material to the conduct of such Grantor’s business, (i) maintain such Trademark in full force free from any
claim of abandonment or invalidity for non-use, (ii) maintain the quality of products and services offered under such Trademark, (iii) display such Trademark with notice of Federal or foreign registration to the extent necessary and
sufficient to establish and preserve its maximum rights under applicable law and (iv) not knowingly use or knowingly permit the use of such Trademark in violation of any third party rights. 

(c) Each Grantor (either itself or through its licensees or sublicensees) will, to the extent commercially reasonable for each work
covered by a Copyright material to such Grantor’s business, continue to publish, reproduce, display, adopt and distribute the work with appropriate copyright notice as necessary and sufficient to establish and preserve its maximum rights under
applicable copyright laws. 
 (d) Each Grantor shall promptly notify the Administrative Agent if it knows or has reason to know
that any Patent, Trademark or Copyright material to the conduct of its business may become abandoned, lost or dedicated to the public, or of any adverse determination or development (including the institution of, or any such determination or
development in, any proceeding in the United States Patent and Trademark Office, United States Copyright Office or any court or similar office of any country, but excluding rejections of applications to register a Patent, Trademark or Copyright and
typical communications in the ordinary course of prosecution, such as office actions and the like) regarding such Grantor’s ownership of any Patent, Trademark or Copyright, its right to register the same, or its right to keep and maintain the
same. 

  
 27 

 (e) In no event shall any Grantor, either itself or through any agent, employee, licensee or
designee, file an application for any United States Copyright (or for the registration of any United States Copyright) with the United States Copyright Office or any office or agency in any political subdivision of the United States, unless it
promptly (and in any event concurrently with the delivery of the financial statements identified in Section 5.01(b) of the Credit Agreement) informs the Administrative Agent, and executes and delivers any and all agreements, instruments,
documents and papers as the Administrative Agent may reasonably request to evidence the Administrative Agent’s security interest in such Copyright, and each Grantor hereby appoints the Administrative Agent as its attorney-in-fact to execute and
file such writings for the foregoing purposes, all acts of such attorney being hereby ratified and confirmed; such power, being coupled with an interest, is irrevocable. 
 (f) Each Grantor will, to the extent commercially reasonable, take all necessary steps that are consistent with the practice in any proceeding before the United States Patent and Trademark Office, United
States Copyright Office or any office or agency in any political subdivision of the United States, to maintain and pursue each application relating to the Patents, Trademarks and/or Copyrights (and to obtain the relevant grant or registration) that
are material to the conduct of its business and to maintain each issued Patent and each registration of the Trademarks and Copyrights that is material to the conduct of any Grantor’s business, including timely filings of applications for
renewal, affidavits of use, affidavits of incontestability and payment of maintenance fees, and, if commercially reasonably and consistent with good business judgment, to initiate opposition, interference and cancelation proceedings against third
parties. 
 (g) In the event that any Grantor has reason to believe that any Article 9 Collateral consisting of a Patent,
Trademark or Copyright material to the conduct of any Grantor’s business has been or is about to be infringed, misappropriated or diluted by a third party, such Grantor shall promptly notify the Administrative Agent and shall use its
commercially reasonable efforts and if consistent with good business judgment, promptly sue for infringement, misappropriation or dilution and to recover any and all damages for such infringement, misappropriation or dilution, and take such other
actions as are appropriate under the circumstances to protect such Article 9 Collateral. 
 (h) Upon and during the
continuance of an Event of Default, each Grantor shall use its commercially reasonable efforts to obtain all requisite consents or approvals by the licensor of each Copyright License, Patent License or Trademark License to effect the assignment of
all such Grantor’s right, title and interest thereunder to the Administrative Agent, for the ratable benefit of the Secured Parties, or its designee. 
 ARTICLE V 
 Remedies 

SECTION 5.01. Remedies Upon Default. Upon the occurrence and during the continuance of an Event of Default, each Grantor agrees to
deliver each item of Collateral to the Administrative Agent on demand, and it is agreed that the Administrative Agent shall have the right to take any of or all the following actions at the same or different times: (a) with respect to any
Article 9 Collateral consisting of 

  
 28 

 
Intellectual Property, on demand, to cause the Security Interest to become an assignment, transfer and conveyance of any of or all such Article 9 Collateral by the applicable Grantors to the
Administrative Agent, or to license or sublicense, whether general, special or otherwise, and whether on an exclusive or nonexclusive basis, any such Article 9 Collateral throughout the world on such terms and conditions and in such manner as the
Administrative Agent shall determine (other than in violation of any then-existing licensing arrangements or other rights of third parties to the extent that waivers cannot be obtained), and (b) with or without legal process and with or without
prior notice or demand for performance, to take possession of the Article 9 Collateral and without liability for trespass to enter any premises where the Article 9 Collateral may be located for the purpose of taking possession of or removing the
Article 9 Collateral and, generally, to exercise any and all rights afforded to a secured party under the Uniform Commercial Code or other applicable law. Without limiting the generality of the foregoing, each Grantor agrees that the Administrative
Agent shall have the right, subject to the mandatory requirements of applicable law, to sell or otherwise dispose of all or any part of the Collateral at a public or private sale or at any broker’s board or on any securities exchange, for cash,
upon credit or for future delivery as the Administrative Agent shall deem appropriate. The Administrative Agent shall be authorized at any such sale of securities (if it deems it advisable to do so) to restrict the prospective bidders or purchasers
to Persons who will represent and agree that they are purchasing the Collateral for their own account for investment and not with a view to the distribution or sale thereof, and upon consummation of any such sale the Administrative Agent shall have
the right to assign, transfer and deliver to the purchaser or purchasers thereof the Collateral so sold. Each such purchaser at any sale of Collateral shall hold the property sold absolutely, free from any claim or right on the part of any Grantor,
and each Grantor hereby waives (to the extent permitted by law) all rights of redemption, stay and appraisal which such Grantor now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted.

 The Administrative Agent shall give the applicable Grantors 10 days’ written notice (which each Grantor agrees is
reasonable notice within the meaning of Section 9-611 of the New York UCC or its equivalent in other jurisdictions) of the Administrative Agent’s intention to make any sale of Collateral. Such notice, in the case of a public sale,
shall state the time and place for such sale and, in the case of a sale at a broker’s board or on a securities exchange, shall state the board or exchange at which such sale is to be made and the day on which the Collateral, or portion thereof,
will first be offered for sale at such board or exchange. Any such public sale shall be held at such time or times within ordinary business hours and at such place or places as the Administrative Agent may fix and state in the notice (if any) of
such sale. At any such sale, the Collateral, or portion thereof, to be sold may be sold in one lot as an entirety or in separate parcels, as the Administrative Agent may (in its sole and absolute discretion) determine. The Administrative Agent shall
not be obligated to make any sale of any Collateral if it shall determine not to do so, regardless of the fact that notice of sale of such Collateral shall have been given. The Administrative Agent may, without notice or publication, adjourn any
public or private sale or cause the same to be adjourned from time to time by announcement at the time and place fixed for sale, and such sale may, without further notice, be made at the time and place to which the same was so

  
 29 

 
adjourned. In case any sale of all or any part of the Collateral is made on credit or for future delivery, the Collateral so sold may be retained by the Administrative Agent until the sale price
is paid by the purchaser or purchasers thereof, but the Administrative Agent shall not incur any liability in case any such purchaser or purchasers shall fail to take up and pay for the Collateral so sold and, in case of any such failure, such
Collateral may be sold again upon like notice. At any public (or, to the extent permitted by law, private) sale made pursuant to this Agreement, any Secured Party may bid for or purchase, free (to the extent permitted by law) from any right of
redemption, stay, valuation or appraisal on the part of any Grantor (all said rights being also hereby waived and released to the extent permitted by law), the Collateral or any part thereof offered for sale and may make payment on account thereof
by using any claim then due and payable to such Secured Party from any Grantor as a credit against the purchase price, and such Secured Party may, upon compliance with the terms of sale, hold, retain and dispose of such property without further
accountability to any Grantor therefor. For purposes hereof, a written agreement to purchase the Collateral or any portion thereof shall be treated as a sale thereof; the Administrative Agent shall be free to carry out such sale pursuant to such
agreement and no Grantor shall be entitled to the return of the Collateral or any portion thereof subject thereto, notwithstanding the fact that after the Administrative Agent shall have entered into such an agreement all Events of Default shall
have been remedied and the Obligations paid in full. As an alternative to exercising the power of sale herein conferred upon it, the Administrative Agent may proceed by a suit or suits at law or in equity to foreclose this Agreement and to sell the
Collateral or any portion thereof pursuant to a judgment or decree of a court or courts having competent jurisdiction or pursuant to a proceeding by a court-appointed receiver. Any sale pursuant to the provisions of this Section 5.01 shall be
deemed to conform to the commercially reasonable standards as provided in Section 9-610(b) of the New York UCC or its equivalent in other jurisdictions. 
 SECTION 5.02. Application of Proceeds. The Administrative Agent shall apply the proceeds in respect of any Collateral received in connection with the enforcement of its rights with respect to the
Collateral, including any Collateral consisting of cash, as follows: 
 FIRST, to the payment of all costs and
expenses incurred by the Administrative Agent in connection with such collection or sale or otherwise in connection with this Agreement, any other Loan Document or any of the Obligations, including all court costs and the reasonable fees and
expenses of its agents and legal counsel, the repayment of all advances made by the Administrative Agent hereunder or under any other Loan Document on behalf of any Grantor and any other costs or expenses incurred in connection with the exercise of
any right or remedy hereunder or under any other Loan Document; 
 SECOND, to the payment in full of Unfunded
Advances/Participations (the amounts so applied to be distributed between or among the Administrative Agent and any Issuing Bank pro rata in accordance with the amounts of Unfunded Advances/Participations owed to them on the date of any such
distribution); 

  
 30 

 THIRD, to the payment in full of all other Obligations (the amounts so
applied to be distributed among the Secured Parties pro rata in accordance with the amounts of the Obligations owed to them on the date of any such distribution); and 

FOURTH, to the Grantors, their successors or assigns, or as a court of competent jurisdiction may otherwise direct.

 The Administrative Agent shall have absolute discretion as to the time of application of any such proceeds, moneys or
balances in accordance with this Agreement. Upon any sale of Collateral by the Administrative Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the Administrative Agent or of the officer
making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the
Administrative Agent or such officer or be answerable in any way for the misapplication thereof. 
 SECTION 5.03. Grant of
License to Use Intellectual Property. For the purpose of enabling the Administrative Agent to exercise rights and remedies under this Agreement at such time as the Administrative Agent shall be lawfully entitled to exercise such rights and
remedies, effective upon the occurrence and continuance of an Event of Default each Grantor hereby grants (but subject always to the then existing licensing arrangements or other rights of third parties) to the Administrative Agent an irrevocable,
nonexclusive license (exercisable without payment of royalty or other compensation to the Grantors) to use, license or sublicense any of the Article 9 Collateral consisting of Intellectual Property or Software now owned or hereafter acquired by
such Grantor, and wherever the same may be located, and including in such license reasonable access to all media in which any of the licensed items may be recorded or stored and to all computer software and programs used for the compilation or
printout thereof. The use of such license by the Administrative Agent may be exercised, at the option of the Administrative Agent, upon the occurrence and during the continuation of an Event of Default. 

If (i) an Event of Default shall have occurred and, by reason of cure, waiver, modification, amendment or otherwise, no longer be
continuing, (ii) no other Event of Default shall have occurred and be continuing, (iii) an assignment to the Administrative Agent of any rights, title and interests in and to the Intellectual Property shall have been previously made, and
(iv) the Obligations shall not have become immediately due and payable, upon the written request of any Grantor, the Administrative Agent shall promptly execute and deliver to such Grantor such assignments as may be necessary to reassign to
such Grantor any such rights, title and interests as may have been assigned to the Administrative Agent as aforesaid, subject to any disposition thereof that may have been made by the Administrative Agent; provided, after giving effect to
such reassignment, the Administrative Agent’s security interest granted pursuant hereto, as well as all other rights and remedies of the Administrative Agent granted hereunder, shall continue to be in full force and effect; provided
further, the rights, title and interests so reassigned shall be free and clear of all Liens other than Liens (if any) encumbering such rights, title and interest at the time of their assignment to the Administrative Agent and Liens permitted
pursuant to 6.02 of the Credit Agreement. 

  
 31 

 SECTION 5.04. Securities Act. In view of the position of the Grantors in relation to
the Pledged Collateral, or because of other current or future circumstances, a question may arise under the Securities Act of 1933, as now or hereafter in effect, or any similar statute hereafter enacted analogous in purpose or effect (such Act and
any such similar statute as from time to time in effect being called the “Federal Securities Laws”) with respect to any disposition of the Pledged Collateral permitted hereunder. Each Grantor understands that compliance with the
Federal Securities Laws might very strictly limit the course of conduct of the Administrative Agent if the Administrative Agent were to attempt to dispose of all or any part of the Pledged Collateral, and might also limit the extent to which or the
manner in which any subsequent transferee of any Pledged Collateral could dispose of the same. Similarly, there may be other legal restrictions or limitations affecting the Administrative Agent in any attempt to dispose of all or part of the Pledged
Collateral under applicable “blue sky” or other state securities laws or similar laws analogous in purpose or effect. Each Grantor recognizes that in light of such restrictions and limitations the Administrative Agent may, with respect to
any sale of the Pledged Collateral, limit the purchasers to those who will agree, among other things, to acquire such Pledged Collateral for their own account, for investment, and not with a view to the distribution or resale thereof. Each Grantor
acknowledges and agrees that in light of such restrictions and limitations, the Administrative Agent, in its sole and absolute discretion (a) may proceed to make such a sale whether or not a registration statement for the purpose of registering
such Pledged Collateral or part thereof shall have been filed under the Federal Securities Laws and (b) may approach and negotiate with a single potential purchaser to effect such sale. Each Grantor acknowledges and agrees that any such sale
might result in prices and other terms less favorable to the seller than if such sale were a public sale without such restrictions. In the event of any such sale, the Administrative Agent shall incur no responsibility or liability for selling all or
any part of the Pledged Collateral at a price that the Administrative Agent, in its sole and absolute discretion, may in good faith deem reasonable under the circumstances, notwithstanding the possibility that a substantially higher price might have
been realized if the sale were deferred until after registration as aforesaid or if more than a single purchaser were approached. The provisions of this Section 5.04 will apply notwithstanding the existence of a public or private market upon
which the quotations or sales prices may exceed substantially the price at which the Administrative Agent sells. 
 ARTICLE VI

 Indemnity, Subrogation and Subordination 
 SECTION 6.01. Indemnity and Subrogation. In addition to all such rights of indemnity and subrogation as the Guarantors may have under applicable law (but subject to Section 6.03), the Borrower
agrees that (a) in the event a payment of an obligation shall be made by any Guarantor under this Agreement, the Borrower shall indemnify such Guarantor for the full amount of such payment and such Guarantor shall be subrogated to the rights of
the Person to whom such payment shall have been made to 

  
 32 

 
the extent of such payment and (b) in the event any assets of any Grantor shall be sold pursuant to this Agreement or any other Security Document to satisfy in whole or in part an obligation
owed to any Secured Party, the Borrower shall indemnify such Grantor in an amount equal to the greater of the book value or the fair market value of the assets so sold. 
 SECTION 6.02. Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by
any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming
Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or
the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all
the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any
Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment. 

SECTION 6.03. Subordination. (a) Notwithstanding any provision of this Agreement to the contrary, all rights of the
Guarantors and Grantors under Sections 6.01 and 6.02 and all other rights of indemnity, contribution or subrogation under applicable law or otherwise shall be fully subordinated to the indefeasible payment in full in cash of the Obligations. No
failure on the part of the Borrower or any Guarantor or Grantor to make the payments required by Sections 6.01 and 6.02 (or any other payments required under applicable law or otherwise) shall in any respect limit the obligations and
liabilities of any Guarantor or Grantor with respect to its obligations hereunder, and each Guarantor and Grantor shall remain liable for the full amount of the obligations of such Guarantor or Grantor hereunder. 

(b) Each Guarantor and Grantor hereby agrees that all Indebtedness and other monetary obligations owed by or to it to or from any other
Guarantor, Grantor or any other Subsidiary shall be fully subordinated to the indefeasible payment in full in cash of the Obligations. 
 ARTICLE VII 
 Miscellaneous 

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

  
 33 

 SECTION 7.02. Waivers; Amendment. (a) No failure or delay by the Administrative
Agent, any Issuing Bank or any Lender in exercising any right or power hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or
discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent, the Issuing Banks and the Lenders hereunder
and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by any Loan Party therefrom shall in any event
be effective unless the same shall be permitted by paragraph (b) of this Section 7.02, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of
the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent, any Lender or any Issuing Bank may have had notice or knowledge of such Default
at the time. No notice or demand on any Loan Party in any case shall entitle any Loan Party to any other or further notice or demand in similar or other circumstances. 
 (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Administrative Agent and the Loan Party
or Loan Parties with respect to which such waiver, amendment or modification is to apply, subject to any consent required in accordance with Section 9.02 of the Credit Agreement. 

SECTION 7.03. Administrative Agent’s Fees and Expenses; Indemnification. (a) The parties hereto agree that the
Administrative Agent shall be entitled to reimbursement of its reasonable expenses incurred hereunder as provided in Section 9.03 of the Credit Agreement. 
 (b) Without limitation of its indemnification obligations under the other Loan Documents, each Grantor and each Guarantor jointly and severally agrees to indemnify the Administrative Agent and the other
Indemnitees (as defined in Section 9.03 of the Credit Agreement) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including the reasonable fees, charges and disbursements of
a single counsel for any Indemnitee (together with one counsel in each jurisdiction as necessary), incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of, the execution, delivery or performance of this
Agreement or any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing agreements or instruments contemplated hereby, or to the Collateral, whether or not any Indemnitee is a party thereto,
provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable
judgment to have resulted from the gross negligence, bad faith or willful misconduct of such Indemnitee or any of its Related Parties. 

  
 34 

 (c) Any such amounts payable as provided hereunder shall be additional Obligations secured
hereby and by the other Security Documents. The provisions of this Section 7.03 shall remain operative and in full force and effect regardless of the termination of this Agreement or any other Loan Document, the consummation of the transactions
contemplated hereby, the repayment of any of the Obligations, the invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document, or any investigation made by or on behalf of the Administrative Agent or any
other Secured Party. All amounts due under this Section 7.03 shall be payable on written demand therefor. 
 SECTION 7.04.
Successors and Assigns. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on
behalf of any Guarantor, Grantor or the Administrative Agent that are contained in this Agreement shall bind and inure to the benefit of their respective permitted successors and assigns. 

SECTION 7.05. Survival of Agreement. All covenants, agreements, representations and warranties made by the Loan Parties in the
Loan Documents and in the certificates or other instruments prepared or delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the Lenders and shall survive the execution
and delivery of the Loan Documents and the making of any Loans and issuance of any Letters of Credit, regardless of any investigation made by any Lender or on its behalf and notwithstanding that the Administrative Agent, any Issuing Bank or any
Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended under the Credit Agreement, and shall continue in full force and effect as long as the principal of or any accrued
interest on any Loan or any fee or any other amount payable under any Loan Document is outstanding and unpaid or any Letter of Credit is outstanding or has not been backstopped or cash collateralized (in each case on terms reasonably satisfactory to
the Administrative Agent and the applicable Issuing Banks) and so long as the Commitments have not expired or terminated. 

SECTION 7.06. Counterparts; Effectiveness; Several Agreement. This Agreement may be executed in counterparts, each of which shall
constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed signature page to this Agreement by facsimile or electronic transmission (including “pdf”) shall be as effective as
delivery of a manually signed counterpart of this Agreement. This Agreement shall become effective as to any Loan Party when a counterpart hereof executed on behalf of such Loan Party shall have been delivered to the Administrative Agent and a
counterpart hereof shall have been executed on behalf of the Administrative Agent, and thereafter shall be binding upon such Loan Party and the Administrative Agent and their respective permitted successors and assigns, and shall inure to the
benefit of such Loan Party, the Administrative Agent and the other Secured 

  
 35 

 Parties and their respective successors and assigns, except that no Loan Party shall have the right to
assign or transfer its rights or obligations hereunder or any interest herein or in the Collateral (and any such assignment or transfer shall be void) except as expressly contemplated by this Agreement or the Credit Agreement. This Agreement shall
be construed as a separate agreement with respect to each Loan Party and may be amended, modified, supplemented, waived or released with respect to any Loan Party without the approval of any other Loan Party and without affecting the obligations of
any other Loan Party hereunder. 
 SECTION 7.07. Severability. Any provision of this Agreement held to be invalid,
illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions
hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable
provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 SECTION 7.08. Right of Set-Off. If an Event of Default shall have occurred and be continuing, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the
fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations at any time owing by such Lender or Affiliate to or for the credit or the
account of any Subsidiary Party against any of and all the obligations of such Subsidiary Party now or hereafter existing under this agreement owed to such Lender, irrespective of whether or not such Lender shall have made any demand under this
Agreement and although such obligations may be unmatured. The applicable Lender shall notify the Borrower and the Administrative Agent of any such setoff and application. The rights of each Lender under this Section 7.08 are in addition to
other rights and remedies (including other rights of set-off) which such Lender may have. 
 SECTION 7.09. Governing Law;
Jurisdiction; Consent to Service of Process. (a) This Agreement shall be construed in accordance with and governed by the law of the State of New York, except to the extent that the Uniformed Commercial Code provides that perfection of the
security interests hereunder, or remedies hereunder, in respect of any particular collateral are governed by the laws of a jurisdiction other than the State of New York, in which case the laws of such jurisdiction shall govern with respect to the
perfection of the security interest in, or remedies with respect to, such particular Collateral. 
 (b) Each of the Grantors
hereto hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern
District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement or any other Loan Document, or for recognition or enforcement of any judgment, and each of the parties

  
 36 

 
hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent
permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided
by law. Nothing in this Agreement or any other Loan Document shall affect any right that the Administrative Agent, any Issuing Bank or any Lender may otherwise have to bring any action or proceeding relating to this Agreement or any other Loan
Document against any Grantor or Guarantor, or its properties in the courts of any jurisdiction. 
 (c) Each of the parties
hereto hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to
this Agreement or any other Loan Document in any court referred to in paragraph (b) of this Section 7.09. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to
the maintenance of such action or proceeding in any such court. 
 (d) Each party to this Agreement irrevocably consents to
service of process in the manner provided for notices in Section 7.01. Nothing in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

SECTION 7.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY
HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY
HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 7.10. 

SECTION 7.11. Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only,
are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 
 SECTION 7.12. Security Interest Absolute. All rights of the Administrative Agent hereunder, the Security Interest, the grant of a security interest in the Pledged Collateral and all obligations of
each Grantor and Guarantor hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of 

  
 37 

 
the Credit Agreement, any other Loan Document, any agreement with respect to any of the Obligations or any other agreement or instrument relating to any of the foregoing, (b) any change in
the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to any departure from the Credit Agreement, any other Loan Document or any other agreement or
instrument, (c) any exchange, release or non-perfection of any Lien on other collateral, or any release or amendment or waiver of or consent under or departure from any guarantee, securing or guaranteeing all or any of the Obligations, or
(d) any other circumstance that might otherwise constitute a defense available to, or a discharge of, any Grantor or Guarantor in respect of the Obligations or this Agreement. 

SECTION 7.13. Termination or Release. (a) This Agreement, the Guarantees made herein, the Security Interest and all other
security interests granted hereby shall automatically terminate when all the Obligations (other than unmatured indemnification obligations) have been paid in full and the Lenders have no further commitment to lend under the Credit Agreement, the LC
Exposure has been reduced to zero (or cash collateralized or otherwise backstopped, in each case in form and substance satisfactory to the relevant Revolving Lender) and the Issuing Banks have no further obligations to issue Letters of Credit under
the Credit Agreement. 
 (b) A Subsidiary Party shall automatically be released from its obligations hereunder and the Security
Interest in the Collateral of such Subsidiary Party shall be automatically released upon the consummation of any transaction permitted by the Credit Agreement as a result of which such Subsidiary Party ceases to be a Subsidiary of the Borrower (or
ceases to be required to be a Loan Party under the Credit Agreement), provided that the Required Lenders shall have consented to such transaction (to the extent required by the Credit Agreement) and the terms of such consent did not provide
otherwise. 
 (c) Upon any sale or other transfer by any Grantor of any Collateral that is permitted under the Credit Agreement,
or upon the effectiveness of any written consent to the release of the security interest granted hereby in any Collateral pursuant to Section 9.02 of the Credit Agreement, the Security Interest in such Collateral shall be automatically
released. 
 (d) In connection with any termination or release pursuant to paragraph (a), (b) or (c), the
Administrative Agent shall promptly execute and deliver to any Grantor, at such Grantor’s expense, all documents that such Grantor shall reasonably request to evidence such termination or release. Any execution and delivery of documents
pursuant to this Section 7.13 shall be without recourse to or warranty by the Administrative Agent. 
 SECTION 7.14.
Additional Loan Parties. To the extent required by Section 5.12 of the Credit Agreement, if any additional Subsidiary is formed or acquired after the Effective Date, such Subsidiary shall enter in this Agreement as a Subsidiary Party
upon becoming such a Subsidiary. Upon execution and delivery by the Administrative Agent and a Subsidiary of an agreement in the form of Exhibit I hereto or 

  
 38 

 
such other form reasonably acceptable to the Administrative Agent, such Subsidiary shall become a Subsidiary Party hereunder with the same force and effect as if originally named as a Subsidiary
Party herein. The execution and delivery of any such agreement shall not require the consent of any other Loan Party hereunder. The rights and obligations of each Loan Party hereunder shall remain in full force and effect notwithstanding the
addition of any new Loan Party as a party to this Agreement. 
 SECTION 7.15. Administrative Agent Appointed
Attorney-in-Fact. Each Grantor hereby appoints the Administrative Agent the attorney-in-fact of such Grantor for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instrument that the
Administrative Agent may reasonably deem necessary or advisable to accomplish the purposes hereof, which appointment is irrevocable and coupled with an interest; provided that the Administrative Agent may exercise its rights as attorney-in-fact of
any Grantor only upon the occurrence and during the continuance of an Event of Default. Without limiting the generality of the foregoing, the Administrative Agent shall have the right, upon the occurrence and during the continuance of an Event of
Default, with full power of substitution either in the Administrative Agent’s name or in the name of such Grantor (a) to receive, endorse, assign and/or deliver any and all notes, acceptances, checks, drafts, money orders or other
evidences of payment relating to the Collateral or any part thereof; (b) to demand, collect, receive payment of, give receipt for and give discharges and releases of all or any of the Collateral; (c) to sign the name of any Grantor on any
invoice or bill of lading relating to any of the Collateral; (d) to send verifications of Accounts Receivable to any Account Debtor; (e) to commence and prosecute any and all suits, actions or proceedings at law or in equity in any court
of competent jurisdiction to collect or otherwise realize on all or any of the Collateral or to enforce any rights in respect of any Collateral; (f) to settle, compromise, compound, adjust or defend any actions, suits or proceedings relating to
all or any of the Collateral; (g) to notify, or to require any Grantor to notify, Account Debtors to make payment directly to the Administrative Agent; and (h) to use, sell, assign, transfer, pledge, make any agreement with respect to or
otherwise deal with all or any of the Collateral, and to do all other acts and things the Administrative Agent may reasonably deem necessary to carry out the purposes of this Agreement, as fully and completely as though the Administrative Agent were
the absolute owner of the Collateral for all purposes, provided that nothing herein contained shall be construed as requiring or obligating the Administrative Agent to make any commitment or to make any inquiry as to the nature or sufficiency
of any payment received by the Administrative Agent, or to present or file any claim or notice, or to take any action with respect to the Collateral or any part thereof or the moneys due or to become due in respect thereof or any property covered
thereby. Except for the exercise of reasonable care in the custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Administrative Agent shall have no duty as to any Collateral or as to the
taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral. The Administrative Agent shall be deemed to have exercised reasonable care in the custody and preservation of Collateral in its
possession if such Collateral is accorded treatment substantially equal to that which the Administrative Agent accords its own property. 

  
 39 

 SECTION 7.16. Intercreditor Agreement; Conflicts. Notwithstanding anything to the
contrary contained herein, the Administrative Agent and each Lender acknowledges that the Lien and security interest granted to the Administrative Agent pursuant to this Agreement and the exercise of any right or remedy by the Administrative Agent
and each Lender hereunder are subject to the provisions of the Intercreditor Agreement. In the event of any conflict between the terms of the Credit Agreement and this Agreement, the terms of the Credit Agreement shall govern and control. In the
event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern and control. 

  
 40 

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

  
 41

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00211-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00211-of-00352.parquet"}]]