Document:

Intercreditor Agreement

 Exhibit 10.2 
 EXECUTION VERSION 
 PARI PASSU INTERCREDITOR AGREEMENT 

dated as of 
 December 21, 2010 
 among 

MORGAN STANLEY SENIOR FUNDING, INC. 
 as Administrative Agent for the Credit Agreement Secured Parties, 

Wilmington Trust FSB, 
 as the 2018 Notes Collateral Agent, 
 Wilmington Trust FSB,

 as the 2018 Notes Authorized Representative, 

and 

each additional Collateral Agent and Authorized Representative from time to time party hereto 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	ARTICLE I	  
	
	DEFINITIONS	  
	SECTION 1.01	  	Construction; Certain Defined Terms	  	 	1	  
	
	ARTICLE II	  
	
	PRIORITIES AND AGREEMENTS WITH RESPECT TO SHARED COLLATERAL	  
			
	SECTION 2.01	  	Priority of Claims	  	 	9	  
	SECTION 2.02	  	Actions with Respect to Shared Collateral; Prohibition on Contesting Liens	  	 	10	  
	SECTION 2.03	  	No Interference; Payment Over; Exculpatory Provisions	  	 	11	  
	SECTION 2.04	  	Automatic Release of Liens	  	 	12	  
	SECTION 2.05	  	Certain Agreements with Respect to Bankruptcy or Insolvency Proceedings	  	 	12	  
	SECTION 2.06	  	Reinstatement	  	 	13	  
	SECTION 2.07	  	Insurance	  	 	13	  
	SECTION 2.08	  	Refinancings	  	 	14	  
	SECTION 2.09	  	Possessory Collateral Agent as Gratuitous Bailee for Perfection	  	 	14	  
	SECTION 2.10	  	Amendments to First Lien Security Documents	  	 	14	  
	SECTION 2.11	  	Controlled Accounts	  	 	15	  
	
	ARTICLE III	  
	
	EXISTENCE AND AMOUNTS OF LIENS AND OBLIGATIONS	  
	
	ARTICLE IV	  
	
	THE APPLICABLE COLLATERAL AGENT	  
			
	SECTION 4.01	  	Authority	  	 	15	  
	ARTICLE V	  
	
	MISCELLANEOUS	  
			
	SECTION 5.01	  	Notices	  	 	16	  
	SECTION 5.02	  	Waivers; Amendment; Joinder Agreements	  	 	17	  
	SECTION 5.03	  	Parties in Interest	  	 	18	  
	SECTION 5.04	  	Survival of Agreement	  	 	18	  
	SECTION 5.05	  	Counterparts	  	 	18	  
	SECTION 5.06	  	Severability	  	 	18	  
	SECTION 5.07	  	Governing Law	  	 	18	  

  
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	 	  	 	  	Page	 
			
	SECTION 5.08	  	Submission to Jurisdiction; Waivers	  	 	18	  
	SECTION 5.09	  	WAIVER OF JURY TRIAL	  	 	19	  
	SECTION 5.10	  	Headings	  	 	19	  
	SECTION 5.11	  	Conflicts	  	 	19	  
	SECTION 5.12	  	Provisions Solely to Define Relative Rights	  	 	19	  
	SECTION 5.13	  	Integration	  	 	19	  
	SECTION 5.14	  	Other First Lien Obligations	  	 	19	  
	SECTION 5.15	  	Agent Capacities	  	 	21	  

  
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 PARI PASSU INTERCREDITOR AGREEMENT (as amended, restated, modified or supplemented from time
to time, this “Agreement”) dated as of December 21, 2010, among MORGAN STANLEY SENIOR FUNDING, INC., as administrative agent for the Credit Agreement Secured Parties (as defined below) under the Credit Documents (as
defined below) (in such capacity and together with its successors in such capacity, the “Administrative Agent”), Wilmington Trust FSB, as collateral agent for the 2018 Notes First Lien Secured Parties (as defined below) (in
such capacity and together with its successors in such capacity, the “2018 Notes Collateral Agent”), the Trustee (defined below) as Authorized Representative for the 2018 Notes First Lien Secured Parties (in such capacity and
together with its successors in such capacity, the “2018 Notes Authorized Representative”) and each additional Collateral Agent and Authorized Representative from time to time party hereto for the Other First Lien Secured
Parties of the Series with respect to which it is acting in such capacity. 
 Reference is made to (i) the Credit Agreement
dated as of December 21, 2010 (as amended, restated, supplemented, waived or otherwise modified from time to time, the “Credit Agreement”), among CNO Financial Group, Inc., a Delaware corporation (the
“Borrower” or the “Company”), the Lenders party thereto from time to time, the Administrative Agent and the other parties named therein; (ii) the Guarantee and Security Agreement dated as of
December 21, 2010 (as amended, restated, supplemented, waived or otherwise modified from time to time, the “Security Agreement”), among the Borrower, each Subsidiary of the Borrower party thereto from time to time and
the Administrative Agent; (iii) the 9.00% Senior Secured Notes due 2018 (as amended, restated, supplemented, waived or otherwise modified from time to time, the “2018 Notes”) issued pursuant to an Indenture (as amended,
restated, supplemented, waived or otherwise modified from time to time, the “2018 Notes Indenture”) dated as of December 21, 2010 among the Borrower, each Subsidiary of the Borrower identified therein and Wilmington
Trust FSB, as trustee (in such capacity and together with its successors in such capacity, the “Trustee”); and (iv) the Security Agreement, dated as of December 21, 2010 (as the same may be amended, restated,
supplemented, waived or modified from time to time, the “2018 Notes Security Agreement”), by and among the Borrower, each Subsidiary of the Borrower party thereto from time to time, and the 2018 Notes Collateral Agent.

 In consideration of the mutual agreements herein contained and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Administrative Agent (for itself and on behalf of the Credit Agreement Secured Parties), the 2018 Notes Collateral Agent, the 2018 Notes Authorized Representative (for itself and on behalf of the
2018 Notes First Lien Secured Parties) and each additional Authorized Representative and Collateral Agent (for itself and on behalf of the Other First Lien Secured Parties of the applicable Series) agree as follows: 

ARTICLE I 

DEFINITIONS 

SECTION 1.01 Construction; Certain Defined Terms. 
 (a) The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine,
feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.” The word “will” shall be construed to have the same
meaning and effect as the word “shall.” Unless the context requires otherwise, (i) any definition of or reference to any agreement, instrument, other document, statute or regulation herein shall be construed as referring to such
agreement, instrument, other document, statute or regulation as from time to time amended, supplemented or otherwise modified, (ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns, but
shall not be deemed to include the subsidiaries of 

 
such Person unless express reference is made to such subsidiaries, (iii) the words “herein,” “hereof” and “hereunder,” and words of similar import, shall be
construed to refer to this Agreement in its entirety and not to any particular provision hereof, (iv) all references herein to Articles, Sections and Annexes shall be construed to refer to Articles, Sections and Annexes of this Agreement,
(v) unless otherwise expressly qualified herein, the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including
cash, securities, accounts and contract rights and (vi) the term “or” is not exclusive. 
 (b) Without limiting
the provisions of Section 2.03, it is the intention of the First Lien Secured Parties of each Series that the holders of First Lien Obligations of such Series (and not the First Lien Secured Parties of any other Series) bear the risk of
(i) any determination by a court of competent jurisdiction that (x) any of the First Lien Obligations of such Series are unenforceable under applicable law or are subordinated to any other obligations (other than another Series of First
Lien Obligations), (y) any of the First Lien Obligations of such Series do not have an enforceable security interest in any of the Collateral securing any other Series of First Lien Obligations and/or (z) any intervening security interest
exists securing any other obligations (other than another Series of First Lien Obligations) on a basis ranking prior to the security interest of such Series of First Lien Obligations but junior to the security interest of any other Series of First
Lien Obligations or (ii) the existence of any Collateral for any other Series of First Lien Obligations that is not Shared Collateral (any such condition referred to in the foregoing clauses (i) or (ii) with respect to any Series of
First Lien Obligations, an “Impairment” of such Series); provided that the existence of a maximum claim with respect to any real property subject to a mortgage which applies to all First Lien Obligations shall not be
deemed to be an Impairment of any Series of First Lien Obligations. In the event of any Impairment with respect to any Series of First Lien Obligations, the results of such Impairment shall be borne solely by the holders of such Series of First Lien
Obligations, and the rights of the holders of such Series of First Lien Obligations (including, without limitation, the right to receive distributions in respect of such Series of First Lien Obligations pursuant to Section 2.01) set forth
herein shall be modified to the extent necessary so that the effects of such Impairment are borne solely by the holders of the Series of such First Lien Obligations subject to such Impairment. Additionally, in the event the First Lien Obligations of
any Series are modified pursuant to applicable law (including, without limitation, pursuant to Section 1129 of the Bankruptcy Code), any reference to such First Lien Obligations or the Secured Credit Documents governing such First Lien
Obligations shall refer to such obligations or such documents as so modified. 
 (c) Capitalized terms used and not otherwise
defined herein shall have the meanings set forth in the Credit Agreement. As used in this Agreement, the following terms have the meanings specified below: 
 “2018 Notes” has the meaning assigned to such term in the recitals of this Agreement. 
 “2018 Notes Authorized Representative” shall have the meaning assigned to such term in the introductory paragraph to this Agreement. 

“2018 Notes Collateral Agent” shall have the meaning assigned to such term in the introductory paragraph to this
Agreement. 
 “2018 Notes Indenture” has the meaning assigned to such term in the recitals of this
Agreement. 
 “2018 Notes First Lien Documents” means the 2018 Notes Indenture, the 2018 Notes issued
thereunder, the 2018 Notes Security Agreement and any security documents and other operative agreements evidencing or governing the Indebtedness thereunder, and the liens securing such Indebtedness, including any agreement entered into for the
purpose of securing the 2018 Notes First Lien Obligations. 

  
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 “2018 Notes First Lien Obligations” means the Other First Lien
Obligations pursuant to the 2018 Notes Indenture. 
 “2018 Notes First Lien Secured Parties” means the
2018 Notes Collateral Agent, the 2018 Notes Authorized Representative and the holders of the 2018 Notes First Lien Obligations. 

“2018 Notes Security Agreement” has the meaning assigned to such term in the recitals of this Agreement.

 “Additional Senior Class Debt” shall have the meaning assigned to such term in Section 5.14.

 “Additional Senior Class Debt Collateral Agent” shall have the meaning assigned to such term in
Section 5.14. 
 “Additional Senior Class Debt Parties” shall have the meaning assigned to such
term in Section 5.14. 
 “Additional Senior Class Debt Representative” shall have the meaning
assigned to such term in Section 5.14. 
 “Administrative Agent” shall have the meaning assigned to
such term in the introductory paragraph of this Agreement. 
 “Agreement” shall have the meaning
assigned to such term in the introductory paragraph of this Agreement. 
 “Applicable Authorized
Representative” means (i) until the earlier of (x) the Discharge of Credit Agreement Obligations, (y) the Outstanding Loan Threshold Date and (z) the Non-Controlling Authorized Representative Enforcement Date, the
Administrative Agent and (ii) from and after the earlier of (x) the Discharge of Credit Agreement Obligations, (y) the Outstanding Loan Threshold Date and (z) the Non-Controlling Authorized Representative Enforcement Date, the
Major Non-Controlling Authorized Representative; provided, in each case, that if there shall occur one or more Non-Controlling Authorized Representative Enforcement Dates, the Applicable Authorized Representative shall be the Authorized
Representative that is the Major Non-Controlling Authorized Representative in respect of the most recent Non-Controlling Authorized Representative Enforcement Date. 
 “Applicable Collateral Agent” means (i) until the earlier of (x) Discharge of Credit Agreement Obligations, (y) the Outstanding Loan Threshold Date and (z) the
Non-Controlling Authorized Representative Enforcement Date, the Administrative Agent and (ii) from and after the earlier of (x) the Discharge of Credit Agreement Obligations, (y) the Outstanding Loan Threshold Date and (z) the
Non-Controlling Authorized Representative Enforcement Date, the Collateral Agent for the Series of First Lien Obligations represented by the Major Non-Controlling Authorized Representative; provided, in each case, that if there shall occur one or
more Non-Controlling Authorized Representative Enforcement Dates, the Applicable Collateral Agent shall be the Collateral Agent for the Series of First Lien Obligations represented by the Major Non-Controlling Authorized Representative in respect of
the most recent Non-Controlling Authorized Representative Enforcement Date. 

  
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 “Authorized Representative” means, at any time, (i) in the case
of any Credit Agreement Obligations or the Credit Agreement Secured Parties, the Administrative Agent, (ii) in the case of the 2018 Notes First Lien Obligations or the 2018 Notes First Lien Secured Parties, the 2018 Notes Authorized
Representative and (iii) in the case of any other Series of Other First Lien Obligations or Other First Lien Secured Parties that become subject to this Agreement after the date hereof, the Authorized Representative named for such Series in the
applicable Joinder Agreement. 
 “Bankruptcy Case” shall have the meaning assigned to such term in
Section 2.05(b). 
 “Bankruptcy Code” shall mean Title 11 of the United States Code, as amended.

 “Bankruptcy Law” shall mean the Bankruptcy Code and any similar Federal, state or foreign law for the
relief of debtors. 
 “Collateral” means all assets and properties subject to Liens created pursuant to
any First Lien Security Document to secure one or more Series of First Lien Obligations. 
 “Collateral
Agent” means (i) in the case of any Credit Agreement Obligations, the Administrative Agent, (ii) in the case of the 2018 Notes First Lien Obligations, the 2018 Notes Collateral Agent, and (iii) in the case of any other
Series of Other First Lien Obligations that become subject to this Agreement after the date hereof, the Collateral Agent named for such Series in the applicable Joinder Agreement. 

“Controlling Secured Parties” means (i) at any time when the Administrative Agent is the Applicable
Collateral Agent, the Credit Agreement Secured Parties and (ii) at any other time, the Series of First Lien Secured Parties whose Authorized Representative is the Applicable Authorized Representative. 

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

 “Credit Agreement Collateral Documents” means the Security Agreement, the other Security Documents
(as defined in the Credit Agreement) and each other agreement entered into in favor of the Administrative Agent for the purpose of securing any Credit Agreement Obligations. 
 “Credit Agreement Obligations” means all amounts owing to any party pursuant to the terms of any Credit Document, including, without limitation, all amounts in respect of any
principal, premium, interest (including any interest and fees accruing subsequent to the commencement of a Bankruptcy Case at the rate provided for in the Credit Agreement, whether or not such interest or fees are allowed claims under any such
proceeding or under applicable state, federal or foreign law), penalties, fees, expenses (including, without limitation, fees, expenses and disbursements of agents, professional advisors and legal counsel), indemnifications, reimbursements, damages
and other liabilities, and guarantees of the foregoing amounts and including, without limitation, the “Obligations” as defined in the Credit Agreement. 
 “Credit Agreement Secured Parties” means the holders of Credit Agreement Obligations, including the “Secured Parties” as defined in the Security Agreement. 

“Credit Documents” mean the Credit Agreement, each Credit Agreement Collateral Document and the Loan Documents
(as defined in the Credit Agreement). 

  
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 “DIP Financing” shall have the meaning assigned to such term in
Section 2.05(b). 
 “DIP Financing Liens” shall have the meaning assigned to such term in
Section 2.05(b). 
 “DIP Lenders” shall have the meaning assigned to such term in
Section 2.05(b). 
 “Discharge” means, with respect to any Series of First Lien Obligations, the
date on which such Series of First Lien Obligations is no longer secured by Shared Collateral. The term “Discharged” shall have a corresponding meaning. 

“Discharge of Credit Agreement Obligations” means the Discharge of the Credit Agreement Obligations with respect
to Shared Collateral; provided that the Discharge of Credit Agreement Obligations shall not be deemed to have occurred in connection with a Refinancing of such Credit Agreement Obligations with additional First Lien Obligations secured by
Shared Collateral under an Other First Lien Document which has been designated in writing by the Administrative Agent (under the Credit Agreement so Refinanced) to each Other First Lien Collateral Agent and each other Authorized Representative as
the “Credit Agreement” for purposes of this Agreement. 
 “Event of Default” means an
“Event of Default” (or similarly defined term) as defined in any Secured Credit Document. 
 “Excess Other
First Lien Obligations” shall have the meaning assigned to such term in the definition of Other First Lien Obligations. 
 “First Lien Documents” means, with respect to the Credit Agreement Obligations, the Credit Agreement Documents, and with respect to the 2018 Notes First Lien Obligations or any
Series of Additional Senior Class Debt, the Other First Lien Documents. 
 “First Lien Obligations”
means, collectively, (i) the Credit Agreement Obligations and (ii) each Series of Other First Lien Obligations. 

“First Lien Secured Parties” means (i) the Credit Agreement Secured Parties and (ii) the Other First
Lien Secured Parties with respect to each Series of Other First Lien Obligations (including the 2018 Notes First Lien Secured Parties). 
 “First Lien Security Documents” means, collectively, (i) the Credit Agreement Collateral Documents and (ii) the Other First Lien Security Documents, including the 2018
Notes Security Agreement. 
 “Grantors” means the Company and each Subsidiary or direct or indirect
parent company of the Company which has granted a security interest pursuant to any First Lien Security Document to secure any Series of First Lien Obligations. 
 “Impairment” shall have the meaning assigned to such term in Section 1.01(b). 
 “Insolvency or Liquidation Proceeding” means: 
 (1) any case commenced by or against the Company or any other Grantor under any Bankruptcy Law, any other proceeding for the reorganization, recapitalization or adjustment or marshalling of the assets or
liabilities of the Company or any other Grantor, any receivership or assignment for the benefit of creditors relating to the Company or any other Grantor or any similar case or proceeding relative to the Company or any other Grantor or its
creditors, as such, in each case whether or not voluntary; 

  
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 (2) any liquidation, dissolution, marshalling of assets or liabilities or
other winding up of or relating to the Company or any other Grantor, in each case whether or not voluntary and whether or not involving bankruptcy or insolvency; or 

(3) any other proceeding of any type or nature in which substantially all claims of creditors of the Company or any other
Grantor are determined and any payment or distribution is or may be made on account of such claims. 
 “Intervening
Creditor” shall have the meaning assigned to such term in Section 2.01(a). 
 “Joinder
Agreement” means the document in the form of Exhibit A to this Agreement required to be delivered by an Authorized Representative to each Collateral Agent and each Authorized Representative pursuant to Section 5.14 of this
Agreement in order to create an additional Series of Other First Lien Obligations or a Refinancing of any Series of First Lien Obligations and add Other First Lien Secured Parties hereunder. 

“Lien” shall mean any mortgage, pledge, security interest, hypothecation, assignment, lien (statutory or other)
or similar encumbrance (including any agreement to give any of the foregoing, any conditional sale or other title retention agreement or any lease in the nature thereof). 
 “Major Non-Controlling Authorized Representative” means the Authorized Representative of the Series of Other First Lien Obligations that constitutes the largest outstanding
principal amount of any then outstanding Series of First Lien Obligations; provided, however, that if there are two outstanding Series of Other First Lien Obligations which have an equal outstanding principal amount, the Series of Other First
Lien Obligations with the earlier maturity date shall be considered to have the larger outstanding principal amount for purposes of this definition. 
 “New York UCC” shall mean the Uniform Commercial Code as from time to time in effect in the State of New York. 

“Non-Controlling Authorized Representative” means any Authorized Representative that is not the Applicable
Authorized Representative at such time. 
 “Non-Controlling Authorized Representative Enforcement Date”
means, with respect to any Non-Controlling Authorized Representative, the date which is 180 days (throughout which 180 day period such Non-Controlling Authorized Representative was the Major Non-Controlling Authorized Representative) after the
occurrence of both (i) an Event of Default (under and as defined in the First Lien Documents under which such Non-Controlling Authorized Representative is the Authorized Representative) and (ii) each Collateral Agent’s and each
other Authorized Representative’s receipt of written notice from such Non-Controlling Authorized Representative certifying that (x) such Non-Controlling Authorized Representative is the Major Non-Controlling Authorized Representative and
that an Event of Default (under and as defined in the First Lien Documents under which such Non-Controlling Authorized Representative is the Authorized Representative) has occurred and is continuing and (y) the First Lien Obligations of the
Series with respect to which such Non-Controlling Authorized Representative is the Authorized Representative are currently due and payable in full (whether as a result of acceleration thereof or otherwise) in accordance with the terms of the
applicable Other First Lien Document; provided that the Non-Controlling Authorized Representative Enforcement Date shall be stayed and shall not occur and shall be deemed not to have occurred (1) at any time the Applicable Authorized
Representative has commenced 

  
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and is diligently pursuing any enforcement action with respect to Shared Collateral or (2) at any time the Grantor that has granted a security interest in Shared Collateral is then a debtor
under or with respect to (or otherwise subject to) any Insolvency or Liquidation Proceeding. 
 “Non-Controlling
Secured Parties” means the First Lien Secured Parties which are not Controlling Secured Parties. 

“Other First Lien Agreement” means any indenture, including the 2018 Notes Indenture and the 2018 Notes, credit
agreement (excluding the Credit Agreement) or other agreement, document or instrument, pursuant to which any Grantor has or will incur Other First Lien Obligations; provided that, in each case, the Indebtedness thereunder (other than the 2018
Notes First Lien Obligations) has been designated as Other First Lien Obligations pursuant to and in accordance with Section 5.14. 
 “Other First Lien Collateral Agents” means each of the Collateral Agents other than the Administrative Agent. 

“Other First Lien Documents” means, with respect to the 2018 Notes First Lien Obligations or any Series of
Additional Senior Class Debt, the Other First Lien Agreements, including the 2018 Notes First Lien Documents and the Other First Lien Security Documents and each other agreement entered into for the purpose of securing the 2018 Notes First Lien
Obligations or any Series of Additional Senior Class Debt; provided that, in each case, the Indebtedness thereunder (other than the 2018 Notes First Lien Obligations) has been designated as Other First Lien Obligations pursuant to
Section 5.14 hereto. 
 “Other First Lien Obligations” means all amounts owing to any Other First
Lien Secured Party (including the 2018 Notes First Lien Secured Parties) pursuant to the terms of any Other First Lien Agreement (including the 2018 Notes Indenture), including, without limitation, all amounts in respect of any principal, premium,
interest (including any interest and fees accruing subsequent to the commencement of a Bankruptcy Case at the rate provided for in the respective Other First Lien Agreement, whether or not such interest or fees are allowed claims under any such
proceeding or under applicable state, federal or foreign law), penalties, fees, expenses (including, without limitation, fees, expenses and disbursements of agents, professional advisors and legal counsel), indemnifications, reimbursements, damages
and other liabilities, and guarantees of the foregoing amounts; provided that the aggregate principal amount of Other First Lien Obligations in excess of the lowest amount of Indebtedness permitted by (x) the Credit Agreement to be
secured on a pari passu basis with the Credit Agreement Obligations and (y) the 2018 Notes Indenture to be secured on a pari passu basis with the 2018 Notes First Lien Obligations and, in each case, any fees, interest and expenses related to
such excess amount pursuant to the applicable Other First Lien Agreement (such excess amount together with the related fees, interest and expenses, the “Excess Other First Lien Obligations”) shall not constitute Other First
Lien Obligations or First Lien Obligations for purposes of this Agreement. For the avoidance of doubt, obligations in respect of the 2018 Notes outstanding on the date hereof shall constitute Other First Lien Obligations. 

“Other First Lien Secured Party” means the holders of any Other First Lien Obligations and any Authorized
Representative with respect thereto and shall include the 2018 Notes First Lien Secured Parties. 
 “Other First Lien
Security Documents” means any security agreement or any other document now existing or entered into after the date hereof that create Liens on any assets or properties of any Grantor to secure the Other First Lien Obligations.

  
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 “Outstanding Loan Threshold Date” means the date on which the
outstanding principal amount of Loans and Commitments (each as defined in the Credit Agreement) under the Credit Agreement (and any replacement thereof) is less than $25,000,000. 

“Possessory Collateral” means any Shared Collateral in the possession of any Collateral Agent (or its agents or
bailees), to the extent that possession thereof perfects a Lien thereon under the Uniform Commercial Code of any jurisdiction or otherwise. Possessory Collateral includes, without limitation, any Certificated Securities, Promissory Notes,
Instruments, and Chattel Paper, in each case, delivered to or in the possession of any Collateral Agent under the terms of the First Lien Security Documents. All capitalized terms used in this definition and not defined elsewhere in this Agreement
have the meaning assigned to them in the New York UCC. 
 “Proceeds” shall have the meaning assigned to
such term in Section 2.01(a). 
 “Refinance” means, in respect of any indebtedness, to refinance,
extend, renew, defease, amend, increase, modify, supplement, restructure, refund, replace or repay, or to issue other indebtedness or enter alternative financing arrangements, in exchange or replacement for such indebtedness (in whole or in part),
including by adding or replacing lenders, creditors, agents, borrowers and/or guarantors, and including in each case, but not limited to, after the original instrument giving rise to such indebtedness has been terminated and including, in each case,
through any credit agreement, indenture or other agreement. “Refinanced” and “Refinancing” have correlative meanings. 
 “Secured Credit Document” means (i) the Credit Documents, (ii) the 2018 Notes First Lien Documents and (iii) each other Other First Lien Document. 

“Security Agreement” has the meaning assigned to such term in the recitals of this Agreement. 

“Series” means (a) with respect to the First Lien Secured Parties, each of (i) the Credit Agreement
Secured Parties (in their capacities as such), (ii) the 2018 Notes First Lien Secured Parties (in their capacities as such), and (iii) the Other First Lien Secured Parties that become subject to this Agreement after the date hereof that
are represented by a common Authorized Representative (in its capacity as such for such Other First Lien Secured Parties) and (b) with respect to any First Lien Obligations, each of (i) the Credit Agreement Obligations, (ii) the 2018
Notes First Lien Obligations and (iii) the Other First Lien Obligations incurred pursuant to any Other First Lien Document, which pursuant to any Joinder Agreement, are to be represented hereunder by a common Authorized Representative (in its
capacity as such for such Other First Lien Obligations). 
 “Shared Collateral” means, at any time,
Collateral in which the holders of two or more Series of First Lien Obligations (or their respective Authorized Representatives or Collateral Agents on behalf of such holders) hold a valid and perfected security interest or Lien at such time. If
more than two Series of First Lien Obligations are outstanding at any time and the holders of less than all Series of First Lien Obligations hold a valid and perfected security interest or Lien in any Collateral at such time, then such Collateral
shall constitute Shared Collateral for those Series of First Lien Obligations that hold a valid security interest or Lien in such Collateral at such time and shall not constitute Shared Collateral for any Series which does not have a valid and
perfected security interest or Lien in such Collateral at such time. 
 “Trustee” has the meaning
assigned to such term in the recitals of this Agreement. 

  
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 ARTICLE II 
 PRIORITIES AND AGREEMENTS WITH RESPECT TO SHARED COLLATERAL 
 SECTION 2.01
Priority of Claims. 
 (a) Anything contained herein or in any of the Secured Credit Documents to the contrary
notwithstanding (but subject to Section 1.01(b)), if an Event of Default has occurred and is continuing, and the Applicable Collateral Agent is taking action to enforce rights in respect of any Shared Collateral, or any distribution is made in
respect of any Shared Collateral in any Bankruptcy Case of any Grantor or any First Lien Secured Party receives any payment pursuant to any intercreditor agreement (other than this Agreement) with respect to any Shared Collateral, the proceeds of
any sale, collection or other liquidation of any such Shared Collateral received by any First Lien Secured Party or received by the Applicable Collateral Agent or any First Lien Secured Party pursuant to any such intercreditor agreement with respect
to such Shared Collateral and proceeds of any such distribution (subject, in the case of any such distribution, to the sentence immediately following) to which the First Lien Obligations are entitled under any intercreditor agreement (other than
this Agreement) (all proceeds of any sale, collection or other liquidation of any Collateral and all proceeds of any such distribution being collectively referred to as “Proceeds”), shall be applied by the Applicable
Collateral Agent in the following order: 
 (i) FIRST, to the payment of all reasonable fees, costs and expenses
incurred by each Collateral Agent (in its capacity as such) in connection with such collection or sale or otherwise in connection with this Agreement, any other Secured Credit Documents or any of the First Lien Obligations, including all court costs
and the reasonable fees, costs and expenses of its agents, professional advisors and legal counsel, and any other reasonable costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Secured
Credit Documents; 
 (ii) SECOND, subject to Section 1.01(b), to the extent Proceeds remain after the
application pursuant to preceding clause (i), to the payment in full of the First Lien Obligations of each Series (the amounts so applied to be distributed among the First Lien Secured Parties pro rata in accordance with the respective amounts of
the First Lien Obligations owed to them on the date of any such distribution and in accordance with the terms of the applicable Secured Credit Documents); and 
 (iii) THIRD, any balance of such Proceeds remaining after the application pursuant to preceding clauses (i) and (ii), to the Grantors, their successors or assigns, or as a court of competent
jurisdiction may otherwise direct. 
 If, despite the provisions of this Section 2.01(a)(ii), any First Lien Secured Party
shall receive any payment or other recovery in excess of its portion of payments on account of the First Lien Obligations to which it is then entitled in accordance with this Section 2.01(a), such First Lien Secured Party shall hold such
payment or recovery in trust for the benefit of all First Lien Secured Parties for distribution in accordance with this Section 2.01(a). 
 (b) Notwithstanding the foregoing, with respect to any Shared Collateral for which a third party (other than a First Lien Secured Party) has a lien or security interest that is junior in priority to the
security interest of any Series of First Lien Obligations but senior (as determined by appropriate legal proceedings in the case of any dispute) to the security interest of any other Series of First Lien Obligations (such third party an
“Intervening Creditor”), the value of any Shared Collateral or Proceeds which are allocated to such Intervening Creditor shall be deducted on a ratable basis solely from the Shared Collateral or Proceeds to be distributed in
respect of the Series of First Lien Obligations with respect to which such Impairment exists. 

  
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 (c) It is acknowledged that the First Lien Obligations of any Series may, subject to the
limitations set forth in the then extant Secured Credit Documents, be increased, extended, renewed, replaced, restated, supplemented, restructured, repaid, refunded, Refinanced or otherwise amended or modified from time to time, all without
affecting the priorities set forth in Section 2.01(a) or the provisions of this Agreement defining the relative rights of the First Lien Secured Parties of any Series. 
 (d) Notwithstanding the date, time, method, manner or order of grant, attachment or perfection of any Liens securing any Series of First Lien Obligations granted on the Shared Collateral and
notwithstanding any provision of the Uniform Commercial Code of any jurisdiction, or any other applicable law or the Secured Credit Documents or any defect or deficiencies in the Liens securing the First Lien Obligations of any Series or any other
circumstance whatsoever (but, in each case, subject to Section 1.01(b)), each First Lien Secured Party hereby agrees that the Liens securing each Series of First Lien Obligations on any Shared Collateral shall be of equal priority. 

SECTION 2.02 Actions with Respect to Shared Collateral; Prohibition on Contesting Liens. 

(a) Notwithstanding Section 2.01, only the Applicable Collateral Agent shall act or refrain from acting with respect to Shared
Collateral (including with respect to any intercreditor agreement with respect to any Shared Collateral). At any time when the Administrative Agent is the Applicable Collateral Agent, no Other First Lien Secured Party shall or shall instruct any
Collateral Agent to, commence any judicial or nonjudicial foreclosure proceedings with respect to, seek to have a trustee, receiver, liquidator or similar official appointed for or over, attempt any action to take possession of, exercise any right,
remedy or power with respect to, or otherwise take any action to enforce its security interest in or realize upon, or take any other action available to it in respect of, Shared Collateral (including with respect to any intercreditor agreement with
respect to Shared Collateral), whether under any Other First Lien Security Document, applicable law or otherwise, it being agreed that only the Administrative Agent, acting in accordance with the Credit Agreement Collateral Documents, shall be
entitled to take any such actions or exercise any remedies with respect to Shared Collateral at such time. 
 (b) At any time
when any Other First Lien Collateral Agent is the Applicable Collateral Agent, (i) such Other First Lien Collateral Agent shall act only on the instructions of the Applicable Authorized Representative with respect to Shared Collateral,
(ii) such Other First Lien Collateral Agent shall not follow any instructions with respect to Shared Collateral (including with respect to any intercreditor agreement with respect to any Shared Collateral) from any Non-Controlling Authorized
Representative (or any other First Lien Secured Party other than the Applicable Authorized Representative) and (iii) no Non-Controlling Authorized Representative or other First Lien Secured Party (other than the Applicable Authorized
Representative) shall, or shall instruct such Other First Lien Collateral Agent to, commence any judicial or nonjudicial foreclosure proceedings with respect to, seek to have a trustee, receiver, liquidator or similar official appointed for or over,
attempt any action to take possession of, exercise any right, remedy or power with respect to, or otherwise take any action to enforce its security interest in or realize upon, or take any other action available to it in respect of, Shared
Collateral (including with respect to any intercreditor agreement with respect to Shared Collateral), whether under any First Lien Security Document, applicable law or otherwise, it being agreed that only such Other First Lien Collateral Agent,
acting on the instructions of the Applicable Authorized Representative and in accordance with the Other First Lien Security Documents applicable to it, shall be entitled to take any such actions or exercise any such remedies with respect to Shared
Collateral. 

  
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 (c) Notwithstanding the equal priority of the Liens securing each Series of First Lien
Obligations, the Applicable Collateral Agent (acting on the instructions of the Applicable Authorized Representative) may deal with the Shared Collateral as if such Applicable Collateral Agent had a senior and exclusive Lien on such Collateral. No
Non-Controlling Authorized Representative or Non-Controlling Secured Party will contest, protest or object to any foreclosure proceeding or action brought by the Applicable Collateral Agent, the Applicable Authorized Representative or the
Controlling Secured Party or any other exercise by the Applicable Collateral Agent, the Applicable Authorized Representative or the Controlling Secured Party of any rights and remedies relating to the Shared Collateral, or to cause the Applicable
Collateral Agent to do so. The foregoing shall not be construed to limit the rights and priorities of any First Lien Secured Party, the Applicable Collateral Agent or any Authorized Representative with respect to any Collateral not constituting
Shared Collateral. 
 (d) So long as the Administrative Agent is a party to this Agreement, this Agreement shall not apply to
any assets a security interest in which was not granted to the Administrative Agent. 
 (e) Each of the Collateral Agents (other
than the Administrative Agent and the 2018 Notes Collateral Agent) and the Authorized Representatives (other than the Administrative Agent and the 2018 Notes Authorized Representative) agrees that it will not accept any Lien on any Collateral for
the benefit of any Series of Other First Lien Obligations (other than funds deposited for the discharge or defeasance of any Other First Lien Agreement) other than pursuant to the First Lien Security Documents, and by executing this Agreement (or a
Joinder Agreement), each such Collateral Agent and each such Authorized Representative and the Series of First Lien Secured Parties for which it is acting hereunder agree to be bound by the provisions of this Agreement and the other First Lien
Security Documents applicable to it. 
 (f) Each of the First Lien Secured Parties agrees that it will not (and hereby waives
any right to) contest or support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding), the perfection, priority, validity or enforceability of a Lien held by or on behalf of any of the First Lien
Secured Parties in all or any part of the Collateral, or the provisions of this Agreement; provided that nothing in this Agreement shall be construed to prevent or impair (i) the rights of any Collateral Agent or any Authorized
Representative to enforce this Agreement or (ii) the rights of any First Lien Secured Party from contesting or supporting any other Person in contesting the enforceability of any Lien purporting to secure obligations not constituting First Lien
Obligations. 
 SECTION 2.03 No Interference; Payment Over; Exculpatory Provisions. 

(a) Except, in each case, with respect to any Excess Other First Lien Obligations or any Security Document or Lien securing the Excess
Other First Lien Obligations, to the extent of such Excess Other First Lien Obligations, each First Lien Secured Party agrees that (i) it will not challenge or question, or support any other Person in challenging or questioning, in any
proceeding the validity or enforceability of any First Lien Obligations of any Series or any First Lien Security Document or the validity, attachment, perfection or priority of any Lien under any First Lien Security Document or the validity or
enforceability of the priorities, rights or duties established by or other provisions of this Agreement; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any First Lien Secured Party from
challenging or questioning the validity or enforceability of any First Lien Obligations constituting unmatured interest or the validity of any Lien relating thereto pursuant to Section 502(b)(2) of the Bankruptcy Code, (ii) it will not
take or cause to be taken any action the purpose or intent of which is, or could be, to interfere, hinder or delay, in any manner, whether by judicial proceedings or otherwise, any sale, transfer or other disposition of the Shared Collateral by the
Applicable Collateral Agent, (iii) except as provided in Section 2.02, it shall have no right to (A) direct the Applicable Collateral 

  
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Agent or any other First Lien Secured Party to exercise any right, remedy or power with respect to any Shared Collateral (including pursuant to any intercreditor agreement) or (B) consent to
the exercise by the Applicable Collateral Agent or any other First Lien Secured Party of any right, remedy or power with respect to any Shared Collateral, (iv) it will not institute any suit or assert in any suit, bankruptcy, insolvency or
other proceeding any claim against the Applicable Collateral Agent or any other First Lien Secured Party seeking damages from or other relief by way of specific performance, instructions or otherwise with respect to any Shared Collateral,
(v) it will not seek, and hereby waives any right, to have any Shared Collateral or any part thereof marshaled upon any foreclosure or other disposition of such Collateral and (vi) it will not attempt, directly or indirectly, whether by
judicial proceedings or otherwise, to challenge the enforceability of any provision of this Agreement; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any Applicable Collateral Agent or any other
First Lien Secured Party to enforce this Agreement. 
 (b) Each First Lien Secured Party hereby agrees that if it shall obtain
possession of any Shared Collateral or shall realize any proceeds or payment in respect of any such Shared Collateral, pursuant to any First Lien Security Document or by the exercise of any rights available to it under applicable law or in any
Insolvency or Liquidation Proceeding or through any other exercise of remedies (including pursuant to any intercreditor agreement), at any time prior to the Discharge of each of the First Lien Obligations, then it shall hold such Shared Collateral,
proceeds or payment in trust for the other First Lien Secured Parties having a security interest in such Shared Collateral and promptly transfer any such Shared Collateral, proceeds or payment, as the case may be, to the Applicable Collateral Agent
for such Shared Collateral, to be distributed by such Applicable Collateral Agent in accordance with the provisions of Section 2.01(a) hereof. 
 (c) None of the Applicable Collateral Agent, any Applicable Authorized Representative or any other First Lien Secured Party shall be liable for any action taken or omitted to be taken by such Applicable
Collateral Agent, Applicable Authorized Representative or other First Lien Secured Party with respect to any Shared Collateral in accordance with the provisions of this Agreement 

SECTION 2.04 Automatic Release of Liens. 
 (a) If, at any time any Shared Collateral is transferred to a third party or otherwise disposed of, in each case, in connection with any enforcement by the Applicable Collateral Agent in accordance with
the provisions of this Agreement, then (whether or not any Insolvency or Liquidation Proceeding is pending at the time) the Liens in favor of the other Collateral Agents for the benefit of each Series of First Lien Secured Parties upon such Shared
Collateral will automatically be released and discharged upon final conclusion of foreclosure proceeding as and when, but only to the extent, such Liens of the Applicable Collateral Agent on such Shared Collateral are released and discharged;
provided that any proceeds of any Shared Collateral realized therefrom shall be applied pursuant to Section 2.01 hereof. 
 (b) Each Collateral Agent and each Authorized Representative agrees to execute and deliver (at the sole cost and expense of the Grantors) all such authorizations and other instruments as shall reasonably
be requested in writing by the Applicable Collateral Agent to evidence and confirm any release of Shared Collateral provided for in this Section. 
 SECTION 2.05 Certain Agreements with Respect to Bankruptcy or Insolvency Proceedings. 
 (a) This Agreement shall continue in full force and effect notwithstanding the commencement of any proceeding under the Bankruptcy Code or any other Federal, state or foreign bankruptcy, insolvency,
receivership or similar law by or against any Grantor or any of its subsidiaries. 

  
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 (b) If any Grantor shall become subject to a case (a “Bankruptcy
Case”) under the Bankruptcy Code and shall, as debtor(s)-in-possession, move for approval of financing (“DIP Financing”) to be provided by one or more lenders (the “DIP Lenders”) under
Section 364 of the Bankruptcy Code or the use of cash collateral under Section 363 of the Bankruptcy Code, each First Lien Secured Party (other than any Controlling Secured Party (to the extent part of the majority or such greater amount
referred to below) or any Authorized Representative of any Controlling Secured Party) agrees that it will raise no objection to any such financing or to the Liens on the Shared Collateral securing the same (“DIP Financing
Liens”) or to any use of cash collateral that constitutes Shared Collateral, unless a majority in interest of the Controlling Secured Parties (or such greater amount as is necessary to take action under the applicable Loan Document or
Other First Lien Documents), or an Authorized Representative of any Controlling Secured Party, shall then oppose or object to such DIP Financing or such DIP Financing Liens or use of cash collateral (and (i) to the extent that such DIP
Financing Liens are senior to the Liens on any such Shared Collateral for the benefit of the Controlling Secured Parties, each Non-Controlling Secured Party will subordinate its Liens with respect to such Shared Collateral on the same terms as the
Liens of the Controlling Secured Parties (other than any Liens of any First Lien Secured Parties constituting DIP Financing Liens) are subordinated thereto, and (ii) to the extent that such DIP Financing Liens rank pari passu with the
Liens on any such Shared Collateral granted to secure the First Lien Obligations of the Controlling Secured Parties, each Non-Controlling Secured Party will confirm the priorities with respect to such Shared Collateral as set forth herein), in each
case so long as (A) the First Lien Secured Parties of each Series retain the benefit of their Liens on all such Shared Collateral pledged to the DIP Lenders, including proceeds thereof arising after the commencement of such proceeding, with the
same priority vis-a-vis all the other First Lien Secured Parties (other than any Liens of the First Lien Secured Parties constituting DIP Financing Liens) as existed prior to the commencement of the Bankruptcy Case, (B) the First Lien Secured
Parties of each Series are granted Liens on any additional collateral pledged to any First Lien Secured Parties as adequate protection or otherwise in connection with such DIP Financing or use of cash collateral, with the same priority vis-a-vis the
First Lien Secured Parties as set forth in this Agreement, (C) if any amount of such DIP Financing or cash collateral is applied to repay any of the First Lien Obligations, such amount is applied pursuant to Section 2.01(a) of this
Agreement, and (D) if any First Lien Secured Parties are granted adequate protection with respect to the First Lien Obligations subject hereto, including in the form of periodic payments, in connection with such DIP Financing or use of cash
collateral, the proceeds of such adequate protection are applied pursuant to Section 2.01(a) of this Agreement; provided that the First Lien Secured Parties of each Series shall have a right to object to the grant of a Lien to secure the
DIP Financing over any Collateral subject to Liens in favor of the First Lien Secured Parties of such Series or its Authorized Representative that shall not constitute Shared Collateral; and provided further that the First Lien Secured
Parties receiving adequate protection shall not object to any other First Lien Secured Party receiving adequate protection comparable to any adequate protection granted to such First Lien Secured Parties in connection with a DIP Financing or use of
cash collateral. 
 SECTION 2.06 Reinstatement. In the event that any of the First Lien Obligations shall be paid in full
and such payment or any part thereof shall subsequently, for whatever reason (including an order or judgment for disgorgement of a preference under Title 11 of the Bankruptcy Code, or any similar law, or the settlement of any claim in respect
thereof), be required to be returned or repaid, the terms and conditions of this Article II shall be fully applicable thereto until all such First Lien Obligations shall again have been paid in full in cash. 

SECTION 2.07 Insurance. As between the First Lien Secured Parties, the Applicable Collateral Agent (acting at the direction of the
Applicable Authorized Representative), shall have the right, but no obligation, to adjust or settle any insurance policy or claim covering or constituting Shared Collateral in the event of any loss thereunder and to approve any award granted in any
condemnation or similar proceeding affecting the Shared Collateral. 

  
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 SECTION 2.08 Refinancings. The First Lien Obligations of any Series may be
Refinanced, in whole or in part, in each case, without notice to, or the consent (except to the extent a consent is otherwise required to permit the Refinancing transaction under any Secured Credit Document) of any First Lien Secured Party of any
other Series, all without affecting the priorities provided for herein or the other provisions hereof; provided that the Authorized Representative of the holders of any such Refinancing indebtedness shall have executed a Joinder Agreement on
behalf of the holders of such Refinancing indebtedness. 
 SECTION 2.09 Possessory Collateral Agent as Gratuitous Bailee for
Perfection. 
 (a) The Possessory Collateral shall be delivered to the Administrative Agent and the Administrative Agent
agrees to hold any Shared Collateral constituting Possessory Collateral that is part of the Collateral in its possession or control (or in the possession or control of its agents or bailees) as gratuitous bailee for the benefit of each other First
Lien Secured Party and any assignee solely for the purpose of perfecting the security interest granted in such Possessory Collateral, if any, pursuant to the applicable First Lien Security Documents, in each case, subject to the terms and conditions
of this Section 2.09; provided that at any time the Administrative Agent is not the Applicable Collateral Agent, the Administrative Agent shall, at the request of the Applicable Collateral Agent, promptly deliver all Possessory
Collateral to the Applicable Collateral Agent together with any necessary endorsements (or otherwise allow the Applicable Collateral Agent to obtain control of such Possessory Collateral). The Company shall take such further action as is required to
effectuate the transfer contemplated hereby and shall indemnify each Collateral Agent for loss or damage suffered by such Collateral Agent as a result of such transfer except for loss or damage suffered by such Collateral Agent as a result of its
own willful misconduct or gross negligence. 
 (b) Each Collateral Agent agrees to hold any Shared Collateral constituting
Possessory Collateral, from time to time in its possession, as gratuitous bailee for the benefit of each other First Lien Secured Party and any assignee, solely for the purpose of perfecting the security interest granted in such Possessory
Collateral, if any, pursuant to the applicable First Lien Security Documents, in each case, subject to the terms and conditions of this Section 2.09. 
 (c) The duties or responsibilities of each Collateral Agent under this Section 2.09 shall be limited solely to holding any Shared Collateral constituting Possessory Collateral as gratuitous bailee
for the benefit of each other First Lien Secured Party for purposes of perfecting the Lien held by such First Lien Secured Parties therein. 
 SECTION 2.10 Amendments to First Lien Security Documents. 
 (a) Without the
prior written consent of the Administrative Agent, each Other First Lien Collateral Agent agrees that no Other First Lien Security Document may be amended, supplemented or otherwise modified or entered into to the extent such amendment, supplement
or modification, or the terms of any new Other First Lien Security Document would be prohibited by, or would require any Grantor to act or refrain from acting in a manner that would violate, any of the terms of this Agreement. 

(b) Without the prior written consent of each Other First Lien Collateral Agent, the Administrative Agent agrees that no Credit Agreement
Collateral Document may be amended, supplemented or otherwise modified or entered into to the extent such amendment, supplement or modification, or the terms of any new Credit Agreement Collateral Document would be prohibited by, or would require
any Grantor to act or refrain from acting in a manner that would violate, any of the terms of this Agreement. 

  
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 (c) In determining whether an amendment to any First Lien Security Document is permitted by
this Section 2.10, each Collateral Agent may conclusively rely on an officer’s certificate of the Company stating that such amendment is permitted by this Section 2.10. 

SECTION 2.11 Controlled Accounts. As between the First Lien Secured Parties, the Applicable Collateral Agent (acting at the
direction of the Applicable Authorized Representative) shall have the sole right to (i) direct the disposition of funds with respect to each account constituting Shared Collateral and subject to an Account Control Agreement (including the
withdrawal of such funds) and (ii) deliver any notice of sole control or similar notice prescribed by such Account Control Agreement to the relevant depositary bank, securities intermediary or commodity intermediary. Upon any Applicable
Authorized Representative ceasing to be the Applicable Authorized Representative pursuant to the terms hereof, it shall deliver notice thereof to each depositary bank, securities intermediary and commodity intermediary at which any account
constituting Shared Collateral and subject to an Account Control Agreement is held. 
 ARTICLE III 

EXISTENCE AND AMOUNTS OF LIENS AND OBLIGATIONS 
 Whenever a Collateral Agent or any Authorized Representative shall be required, in connection with the exercise of its rights or the performance of its obligations hereunder, to determine the existence or
amount of any First Lien Obligations of any Series, or the Shared Collateral subject to any Lien securing the First Lien Obligations of any Series, it may request that such information be furnished to it in writing by each other Authorized
Representative or each other Collateral Agent and shall be entitled to make such determination or not make any determination on the basis of the information so furnished; provided, however, that if an Authorized Representative or a
Collateral Agent shall fail or refuse reasonably promptly to provide the requested information, the requesting Collateral Agent or Authorized Representative shall be entitled to conclusively rely upon an officer’s certificate of the Company.
Each Collateral Agent and each Authorized Representative may rely conclusively, and shall be fully protected in so relying, on any determination made by it in accordance with the provisions of the preceding sentence (or as otherwise directed by a
court of competent jurisdiction) and shall have no liability to any Grantor, any First Lien Secured Party or any other person as a result of such determination. 
 ARTICLE IV 
 THE APPLICABLE COLLATERAL AGENT 

SECTION 4.01 Authority. 
 (a) Notwithstanding any other provision of this Agreement, nothing herein shall be construed to impose any fiduciary or other duty on any Applicable Collateral Agent to any Non-Controlling Secured Party
or give any Non-Controlling Secured Party the right to direct any Applicable Collateral Agent, except that each Applicable Collateral Agent shall be obligated to distribute proceeds of any Shared Collateral in accordance with Section 2.01
hereof. 
 (b) In furtherance of the foregoing, each Non-Controlling Secured Party acknowledges and agrees that the Applicable
Collateral Agent shall be entitled, for the benefit of the First Lien Secured Parties, to sell, transfer or otherwise dispose of or deal with any Shared Collateral as provided herein and in the First Lien Security Documents, as applicable, for which
the Applicable Collateral Agent is the collateral agent of such Shared Collateral, without regard to any rights to which the Non-Controlling Secured Parties would otherwise be entitled as a result of the First Lien Obligations held by

  
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such Non-Controlling Secured Parties. Without limiting the foregoing, each Non-Controlling Secured Party agrees that none of the Applicable Collateral Agent, the Applicable Authorized
Representative or any other First Lien Secured Party shall have any duty or obligation first to marshal or realize upon any type of Shared Collateral (or any other Collateral securing any of the First Lien Obligations), or to sell, dispose of or
otherwise liquidate all or any portion of such Shared Collateral (or any other Collateral securing any First Lien Obligations), in any manner that would maximize the return to the Non-Controlling Secured Parties, notwithstanding that the order and
timing of any such realization, sale, disposition or liquidation may affect the amount of proceeds actually received by the Non-Controlling Secured Parties from such realization, sale, disposition or liquidation. Each of the First Lien Secured
Parties waives any claim it may now or hereafter have against any Collateral Agent or the Authorized Representative of any other Series of First Lien Obligations or any other First Lien Secured Party of any other Series arising out of (i) any
actions which any Collateral Agent, Authorized Representative or the First Lien Secured Parties take or omit to take (including, actions with respect to the creation, perfection or continuation of Liens on any Collateral, actions with respect to the
foreclosure upon, sale, release or depreciation of, or failure to realize upon, any of the Collateral and actions with respect to the collection of any claim for all or any part of the First Lien Obligations from any account debtor, guarantor or any
other party) in accordance with the First Lien Security Documents or any other agreement related thereto or to the collection of the First Lien Obligations or the valuation, use, protection or release of any security for the First Lien Obligations,
(ii) any election by any Applicable Authorized Representative or any holders of First Lien Obligations, in any proceeding instituted under the Bankruptcy Code, of the application of Section 1111(b) of the Bankruptcy Code or
(iii) subject to Section 2.05, any borrowing by, or grant of a security interest or administrative expense priority under Section 364 of the Bankruptcy Code or any equivalent provision of any other Bankruptcy Law, by the Company or
any of its Subsidiaries, as debtor-in-possession. 
 ARTICLE V 

MISCELLANEOUS 

SECTION 5.01 Notices. All notices and other communications provided for herein shall be in writing and shall be delivered by hand
or overnight courier service, mailed by certified or registered mail or sent by telecopy, as follows: 
 (a) if
to the Administrative Agent, to it at: 
 Morgan Stanley Senior Funding, Inc. 

Documentation Team 
 One Utah Center, 201 South Main Street, 5th Floor 
 Salt Lake City, Utah 84111

 Attention: Carrie D Johnson 
 Telephone: 801-236-3655 
 Telecopier: 212-507-5040 

Electronic Mail: docs4loans@ms.com, ms4loans@ms.com 

  
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 (b) if to the 2018 Notes Collateral Agent or the 2018 Notes Authorized
Representative, to it at: 
 Wilmington Trust FSB 
 Corporate Capital Markets 
 50 South Sixth Street/Suite 1290 

Minneapolis, MN 55402 
 Attention: CNO Financial Administration 
 Telephone: (612) 217-5627

 Telecopier: (612) 217-5651 
 Electronic Mail: TMowdy@WilmingtonTrust.com 
 (c) if to any other
Authorized Representative or Collateral Agent, to it at the address set forth in the applicable Joinder Agreement. 
 Any party hereto may
change its address or telecopy number for notices and other communications hereunder by notice to the other parties hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be
deemed to have been given on the date of receipt (if a Business Day) and on the next Business Day thereafter (in all other cases) if delivered by hand or overnight courier service or sent by telecopy or on the date five Business Days after dispatch
by certified or registered mail if mailed, in each case delivered, sent or mailed (properly addressed) to such party as provided in this Section 5.01 or in accordance with the latest unrevoked direction from such party given in accordance with
this Section 5.01. As agreed to in writing among each Collateral Agent and each Authorized Representative from time to time, notices and other communications may also be delivered by e-mail to the e-mail address of a representative of the
applicable person provided from time to time by such person. 
 SECTION 5.02 Waivers; Amendment; Joinder Agreements.

 (a) No failure or delay on the part of any party hereto in exercising any right or power hereunder 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 parties hereto 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 party therefrom shall in any
event be effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice or demand on any party
hereto in any case shall entitle such party to any other or further notice or demand in similar or other circumstances. 
 (b)
Neither this Agreement nor any provision hereof may be terminated, waived, amended or modified (other than pursuant to any Joinder Agreement) except pursuant to an agreement or agreements in writing entered into by each Authorized Representative and
each Collateral Agent (and with respect to any such termination, waiver, amendment or modification to Section 2.10 or which otherwise by the terms of this Agreement requires the Company’s consent or which increases the obligations or
reduces the rights of the Company or any other Grantor, with the consent of the Company). 
 (c) Notwithstanding the foregoing,
without the consent of any First Lien Secured Party, any Authorized Representative may become a party hereto by execution and delivery of a Joinder Agreement in accordance with Section 5.14 of this Agreement and upon such execution and
delivery, such Authorized Representative and the Other First Lien Secured Parties and Other First Lien Obligations of the Series for which such Authorized Representative is acting shall be subject to the terms hereof and the terms of the Other First
Lien Security Documents applicable thereto. 

  
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 (d) Notwithstanding the foregoing, without the consent of any other Authorized
Representative or First Lien Secured Party, the Collateral Agents may effect amendments and modifications to this Agreement to the extent necessary to reflect any incurrence of any Other First Lien Obligations in compliance with the Credit Agreement
and the other Secured Credit Documents. 
 SECTION 5.03 Parties in Interest. This Agreement shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and assigns, as well as the other First Lien Secured Parties, all of whom are intended to be bound by, and to be third party beneficiaries of, this Agreement. 

SECTION 5.04 Survival of Agreement. All covenants, agreements, representations and warranties made by any party in this Agreement
shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement. 
 SECTION 5.05 Counterparts. This Agreement may be executed in counterparts, each of which shall constitute an original but all of which when taken together shall constitute a single contract.
Delivery of an executed signature page to this Agreement by facsimile transmission shall be as effective as delivery of a manually signed counterpart of this Agreement. 
 SECTION 5.06 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 5.07 Governing Law. This Agreement shall be construed in accordance with
and governed by the laws of the State of New York, without regard to conflicts of laws principles thereof. 
 SECTION 5.08
Submission to Jurisdiction; Waivers. Each Collateral Agent and each Authorized Representative, on behalf of itself and the First Lien Secured Parties of the Series for whom it is acting, irrevocably and unconditionally: 

(a) submits for itself and its property in any legal action or proceeding relating to this Agreement and the First Lien
Security Documents, or for recognition and enforcement of any judgment in respect thereof, to the general jurisdiction of the state and federal courts located in New York County and appellate courts from any thereof; 

(b) consents that any such action or proceeding may be brought in such courts and waives any objection that it may now or
hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same; 

(c) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by
registered or certified mail (or any substantially similar form of mail), postage prepaid, to such Person (or its Authorized Representative) at the address referred to in Section 5.01; 

  
 -18-

 (d) agrees that nothing herein shall affect the right of any other party
hereto (or any First Lien Secured Party) to effect service of process in any other manner permitted by law or shall limit the right of any party hereto (or any First Lien Secured Party) to sue in any other jurisdiction; and 

(e) waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or
proceeding referred to in this Section 5.08 any special, exemplary, punitive or consequential damages. 
 SECTION 5.09
WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH
THIS AGREEMENT. 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 5.09. 

SECTION 5.10 Headings. Article, Section and Annex headings 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 5.11 Conflicts. In the event of any conflict or inconsistency between the provisions of this Agreement and the provisions
of any of the other Secured Credit Documents or First Lien Security Documents, the provisions of this Agreement shall control. 

SECTION 5.12 Provisions Solely to Define Relative Rights. The provisions of this Agreement are and are intended solely for the
purpose of defining the relative rights of the First Lien Secured Parties in relation to one another. None of the Company, any other Grantor or any other creditor thereof shall have any rights or obligations hereunder, except as expressly provided
in this Agreement and none of the Company or any other Grantor may rely on the terms hereof (other than Sections 2.04, 2.05, 2.08, 2.09 and Article V). Nothing in this Agreement is intended to or shall impair the obligations of any Grantor, which
are absolute and unconditional, to pay the First Lien Obligations as and when the same shall become due and payable in accordance with their terms. 
 SECTION 5.13 Integration. This Agreement together with the other Secured Credit Documents and the First Lien Security Documents represents the agreement of each of the Grantors and the First Lien
Secured Parties with respect to the subject matter hereof, and there are no promises, undertakings, representations or warranties by any Grantor, the Administrative Agent, any or any other First Lien Secured Party relative to the subject matter
hereof not expressly set forth or referred to herein or in the other Secured Credit Documents or the First Lien Security Documents. 
 SECTION 5.14 Other First Lien Obligations. 
 To the extent, but only to the
extent not prohibited by the provisions of the Credit Agreement or the Other First Lien Documents, the Company may incur additional indebtedness after the 

  
 -19-

 
date hereof that is secured on an equal and ratable basis with the liens securing the Credit Agreement Obligations and the Other First Lien Obligations (such indebtedness referred to as
“Additional Senior Class Debt”). Any such Additional Senior Class Debt may be secured by a Lien on a ratable basis, in each case under and pursuant to the Other First Lien Documents, if and subject to the condition that the
Collateral Agent and Authorized Representative of any such Additional Senior Class Debt (an “Additional Senior Class Debt Collateral Agent” and an “Additional Senior Class Debt Representative,”
respectively), acting on behalf of the holders of such Additional Senior Class Debt (such Additional Senior Class Debt Collateral Agent, Additional Senior Class Debt Representative and holders in respect of any Additional Senior Class Debt being
referred to as the “Additional Senior Class Debt Parties”), become a party to this Agreement by satisfying the conditions set forth in clauses (i) through (iv) of the immediately succeeding paragraph. 

In order for an Additional Senior Class Debt Representative and Additional Senior Class Debt Collateral Agent to become a party to this
Agreement, 
 (i) such Additional Senior Class Debt Representative, such Additional Senior Class Debt Collateral
Agent, each Collateral Agent, each Authorized Representative and the Company shall have executed and delivered an instrument substantially in the form of Exhibit A (with such changes as may be reasonably approved by each Collateral Agent and such
Additional Senior Class Debt Representative) pursuant to which such Additional Senior Class Debt Representative becomes an Authorized Representative hereunder, and such Additional Senior Class Debt Collateral Agent becomes a Collateral Agent
hereunder, and the Additional Senior Class Debt in respect of which such Additional Senior Class Debt Representative is the Authorized Representative and the related Additional Senior Class Debt Parties become subject hereto and bound hereby;

 (ii) the Company shall have (x) delivered to each Collateral Agent true and complete copies of each of
the Other First Lien Documents relating to such Additional Senior Class Debt, certified as being true and correct by a Responsible Officer of the Company and (y) identified in a certificate of an authorized officer the obligations to be
designated as Other First Lien Obligations and the initial aggregate principal amount or face amount thereof; 

(iii) all First Lien Security Documents, filings and recordations necessary or desirable in the reasonable judgment of the
Additional Senior Class Debt Collateral Agent to create and perfect the Liens securing the relevant obligations relating to such Additional Senior Class Debt shall have been made, executed and/or delivered (or, with respect to any such filings or
recordations, acceptable provisions to perform such filings or recordings have been taken in the reasonable judgment of the Additional Senior Class Debt Collateral Agent), and all fees and taxes in connection therewith shall have been paid (or
acceptable provisions to make such payments have been taken in the reasonable judgment of the Additional Senior Class Debt Collateral Agent); and 
 (iv) the Other First Lien Documents, as applicable, relating to such Additional Senior Class Debt shall provide, in a manner reasonably satisfactory to each Collateral Agent, that each Additional Senior
Class Debt Party with respect to such Additional Senior Class Debt will be subject to and bound by the provisions of this Agreement in its capacity as a holder of such Additional Senior Class Debt. 

Upon the execution and delivery of a Joinder Agreement by an Additional Senior Class Debt Representative and an Additional Collateral
Agent in accordance with this Section 5.14, each other Authorized Representative and Collateral Agent and the Company shall acknowledge such execution and delivery thereof, subject to the terms of this Section 5.14. 

  
 -20-

 SECTION 5.15 Agent Capacities. Except as expressly provided herein, Morgan Stanley
Senior Funding, Inc. is acting in the capacity of Administrative Agent solely for the Credit Agreement Secured Parties. Except as expressly provided herein, Wilmington Trust FSB is acting in the capacity of 2018 Notes Collateral Agent solely for the
2018 Notes First Lien Secured Parties. 
 [Remainder of this page intentionally left blank] 

  
 -21-

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by
their respective authorized officers as of the day and year first above written. 
  

			
	 MORGAN STANLEY SENIOR FUNDING, INC.
as Administrative Agent

		
	By:	 	 /s/ Eric Jenkins

		 	Name: Eric Jenkins
		 	Title: Authorized Signatory
	
	 WILMINGTON TRUST FSB,
as 2018 Notes Collateral Agent

		
	By:	 	 /s/ Timothy Mowdy

		 	Name: Timothy Mowdy
		 	Title: Vice President
	
	 WILMINGTON TRUST FSB,
as 2018 Notes Authorized Representative

		
	By:	 	 /s/ Timothy Mowdy

		 	Name: Timothy Mowdy
		 	Title: Vice President

 [Signature Page
to Pari Passu Intercreditor Agreement] 

 CONSENT OF GRANTORS 

Dated: December 21, 2010 
 Reference is made to the Pari Passu Intercreditor Agreement dated as of the date hereof between Morgan Stanley Senior Funding, Inc., as Administrative Agent, Wilmington Trust FSB, as 2018 Notes Collateral
Agent, and Wilmington Trust FSB, as 2018 Notes Authorized Representative, as the same may be amended, restated, supplemented, waived, or otherwise modified from time to time (the “Intercreditor Agreement”). Capitalized terms
used but not defined herein shall have the meanings assigned to such terms in the Intercreditor Agreement. 
 The Company has
read the foregoing Intercreditor Agreement and consents thereto. The Company agrees that it will not, and will cause each of the other Grantors to not, take any action that would be contrary to the express provisions of the foregoing Intercreditor
Agreement, agrees to abide by the requirements expressly applicable to it under the foregoing Intercreditor Agreement and agrees that, except as otherwise provided therein, no First Lien Secured Party shall have any liability to any Grantor for
acting in accordance with the provisions of the foregoing Intercreditor Agreement. The Company confirms on behalf of each Grantor that the foregoing Intercreditor Agreement is for the sole benefit of the First Lien Secured Parties and their
respective successors and assigns, and that no Grantor is an intended beneficiary or third party beneficiary thereof except to the extent otherwise expressly provided therein. 
 Notwithstanding anything to the contrary in the Intercreditor Agreement or provided herein, each party hereto agrees that the Company and the other Grantors shall not have any right to consent to or
approve any amendment, modification or waiver of any provision of the Intercreditor Agreement except to the extent expressly set forth therein. 
 Without limitation to the foregoing, the Company agrees to take, and to cause each other Grantor to take, such further action and to execute and deliver such additional documents and instruments (in
recordable form, if requested) as the Applicable Collateral Agent may reasonably request to effectuate the terms of and the lien priorities contemplated by the Intercreditor Agreement. 

This Consent shall be governed and construed in accordance with the laws of the State of New York, without regard to conflicts of laws
principles thereof. Notices delivered to the Company pursuant to this Consent shall be delivered to it at the following address: 

CNO Financial Group, Inc. 
 11825 North Pennsylvania Street 
 Carmel, Indiana 46032 

Attention: Scott L. Galovic 
 Telephone: (317) 817-3228 
 Facsimile: (317) 817-3772 

Electronic Mail: scott.galovic@cnoinc.com 

 IN WITNESS HEREOF, this Consent is hereby executed by each of the Grantors as of the date first written
above. 
  

			
	 CNO FINANCIAL GROUP, INC.

		
	By:	 	 /s/ Scott L. Galovic

		 	  Name: Scott L. Galovic
		 	  Title: Vice President and Treasurer
	
	 AMERICAN LIFE AND CASUALTY MARKETING DIVISION CO.

	 CDOC, INC.

	 CNO MANAGEMENT SERVICES COMPANY

		
	By:	 	 /s/ Scott L. Galovic

		 	  Name: Scott L. Galovic
		 	  Title: Vice President and Treasurer
	
	 40|86 ADVISORS, INC.

	 40|86 MORTGAGE CAPITAL, INC.

		
	By:	 	 /s/ Scott L. Galovic

		 	  Name: Scott L. Galovic
		 	  Title: Vice President and Treasurer
	
	 PERFORMANCE MATTERS ASSOCIATES, INC.

	 PERFORMANCE MATTERS ASSOCIATES OF TEXAS, INC.

		
	By:	 	 /s/ Scott L. Galovic

		 	  Name: Scott L. Galovic
		 	  Title: Vice President and Treasurer
	
	 CNO SERVICES, LLC

	By:	 	CNO Management Services Company, its Manager
		
	By:	 	 /s/ Scott L. Galovic

		 	  Name: Scott L. Galovic
		 	  Title: Vice President and Treasurer

 Exhibit A 
 to Pari Passu Intercreditor Agreement 
 [FORM OF] JOINDER NO.
[        ] dated as of [            ], 20[    ] (the “Joinder Agreement”) to the PARI PASSU INTERCREDITOR
AGREEMENT dated as of December 21, 2010, (the “Pari Passu Intercreditor Agreement”), among Morgan Stanley Senior Funding, Inc., as Administrative Agent, Wilmington Trust FSB, as 2018 Notes Collateral Agent, and
Wilmington Trust FSB, as 2018 Notes Authorized Representative, and the additional Authorized Representatives from time to time a party thereto.1 
 A. Capitalized terms used herein but not otherwise defined herein shall have the meanings assigned to such terms in the Pari Passu Intercreditor Agreement. 

B. As a condition to the ability of the Company to incur Other First Lien Obligations and to secure such Additional Senior Class Debt
with the liens and security interests created by the Other First Lien Security Documents, the Additional Senior Class Debt Representative in respect of such Additional Senior Class Debt is required to become an Authorized Representative, and the
Additional Senior Class Debt Collateral Agent is required to become a Collateral Agent, and such Additional Senior Class Debt and the Additional Senior Class Debt Parties in respect thereof are required to become subject to and bound by, the Pari
Passu Intercreditor Agreement. Section 5.14 of the Pari Passu Intercreditor Agreement provides that such Additional Senior Class Debt Representative may become an Authorized Representative, such Additional Senior Class Debt Collateral Agent may
become a Collateral Agent, and such Additional Senior Class Debt and such Additional Senior Class Debt Parties may become subject to and bound by, the Pari Passu Intercreditor Agreement, pursuant to the execution and delivery by the Additional
Senior Debt Class Representative of an instrument in the form of this Joinder and the satisfaction of the other conditions set forth in Section 5.14 of the Pari Passu Intercreditor Agreement. The undersigned Additional Senior Class Debt
Representative (the “New Representative”) and Additional Senior Class Debt Collateral Agent (the “New Collateral Agent”) are executing this Joinder Agreement in accordance with the requirements of the
Pari Passu Intercreditor Agreement and the First Lien Security Documents. 
 Accordingly, the New Representative and the New
Collateral Agent agree as follows: 
 SECTION 1. In accordance with Section 5.14 of the Pari Passu Intercreditor Agreement,
the New Representative and the New Collateral Agent by their signatures below become an Authorized Representative and a Collateral Agent, respectively, under, and the related Additional Senior Class Debt and Additional Senior Class Debt Parties
become subject to and bound by, the Pari Passu Intercreditor Agreement with the same force and effect as if the New Representative and New Collateral Agent had originally been named therein as an Authorized Representative or a Collateral Agent,
respectively, and the New Representative and the New Collateral Agent, on their behalf and on behalf of such Additional Senior Class Debt Parties, hereby agree to all the terms and provisions of the Pari Passu Intercreditor Agreement applicable to
them as Authorized Representative and Collateral Agent, respectively, and to the 
  

	1	 In the event of the Refinancing of the Credit Agreement Obligations, this Joinder will be revised to reflect joinder by a new Administrative Agent

  
 Exhibit A-1

 
Additional Senior Class Debt Parties that they represent as Other First Lien Secured Parties. Each reference to an “Authorized Representative” in the Pari Passu
Intercreditor Agreement shall be deemed to include the New Representative, and each reference to a “Collateral Agent” in the Pari Passu Intercreditor Agreement shall be deemed to include the New Collateral Agent. The Pari
Passu Intercreditor Agreement is hereby incorporated herein by reference. 
 SECTION 2. Each of the New Representative and New
Collateral Agent represent and warrant to each Collateral Agent, each Authorized Representative and the other First Lien Secured Parties, individually, that (i) it has full power and authority to enter into this Joinder Agreement, in its
capacity as [agent] [trustee], (ii) this Joinder Agreement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as
enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability, and (iii) the Other First Lien Documents
relating to such Additional Senior Class Debt provide that, upon the New Representative’s and the New Collateral Agent’s entry into this Joinder Agreement, the Additional Senior Class Debt Parties in respect of such Additional Senior Class
Debt will be subject to and bound by the provisions of the Pari Passu Intercreditor Agreement as Other First Lien Secured Parties. 
 SECTION 3. This Joinder 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. This Joinder
Agreement shall become effective when each Collateral Agent shall have received a counterpart of this Joinder Agreement that bears the signatures of the New Representative and the New Collateral Agent. Delivery of an executed signature page to this
Joinder Agreement by facsimile transmission shall be effective as delivery of a manually signed counterpart of this Joinder Agreement. 
 SECTION 4. Except as expressly supplemented hereby, the Pari Passu Intercreditor Agreement shall remain in full force and effect. 
 SECTION 5. THIS JOINDER AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF. 

SECTION 6. In case any one or more of the provisions contained in this Joinder Agreement should be held invalid, illegal or unenforceable
in any respect, no party hereto shall be required to comply with such provision for so long as such provision is held to be invalid, illegal or unenforceable, but the validity, legality and enforceability of the remaining provisions contained herein
and in the Pari Passu Intercreditor Agreement shall not in any way be affected or impaired. The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic
effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 SECTION 7. All
communications and notices hereunder shall be in writing and given as provided in Section 5.01 of the Pari Passu Intercreditor Agreement. All communications and notices hereunder to the New Representative and the New Collateral Agent shall be
given to them at their respective addresses set forth below their signatures hereto. 
 SECTION 8. The Company agrees to
reimburse each Collateral Agent and each Authorized Representative for its reasonable out-of-pocket expenses in connection with this Joinder Agreement, including the reasonable fees, other charges and disbursements of counsel. 

  
 Exhibit A-2

 IN WITNESS WHEREOF, the New Representative and New Collateral Agent have duly executed this
Joinder Agreement to the Pari Passu Intercreditor Agreement as of the day and year first above written. 
  

							
		 	 [NAME OF NEW REPRESENTATIVE], as
[        ] for the holders of
[                    ],

			
		 	By:	 	  

		 		 	Name:	 	
		 		 	Title:	 	
	
	Address for notices:
		
		 	  

		 	  

		 	attention of:	 	  

		 	Telecopy:	 	  

		
		 	 [NAME OF NEW COLLATERAL AGENT], as
[        ] for the holders of
[                    ],

			
		 	By:	 	  

		 		 	Name:	 	
		 		 	Title:	 	
	
	Address for notices:
		
		 	  

		 	  

		 	attention of:	 	  

		 	Telecopy:	 	  

  
 Exhibit A-3

  

					
	Acknowledged by:
		
		 	 MORGAN STANLEY SENIOR FUNDING, INC.,
as Administrative Agent

			
		 	By:	 	  

		 		 	Name:
		 		 	Title:
		
		 	 WILMINGTON TRUST FSB,
as 2018 Notes Collateral Agent

			
		 	By:	 	  

		 		 	Name:
		 		 	Title:
		
		 	 WILMINGTON TRUST FSB,
as 2018 Notes Authorized Representative

			
		 	By:	 	  

		 		 	Name:
		 		 	Title:

  
 Exhibit A-4

  

			
	CNO FINANCIAL GROUP, INC.
		
	By:	 	  

		 	  Name:
		 	  Title:

  
 Exhibit A-5Guarantee and Security Agreement

 Exhibit 10.3 
 EXECUTION VERSION 
  

 
 GUARANTEE AND SECURITY AGREEMENT

 Dated as of December 21, 2010 
 among 
 CNO FINANCIAL GROUP, INC., 

and 
 the
SUBSIDIARY GUARANTORS 
 Party Hereto 
 and 
 MORGAN STANLEY SENIOR FUNDING, INC., 

as Agent 
 THIS
GUARANTEE AND SECURITY AGREEMENT IS SUBJECT TO THE PROVISIONS OF THE 
 PARI PASSU INTERCREDITOR AGREEMENT, DATED AS OF DECEMBER
21, 2010 (AS 
 AMENDED, RESTATED, MODIFIED OR SUPPLEMENTED FROM TIME TO TIME), AMONG 

MORGAN STANLEY SENIOR FUNDING, INC., AS ADMINISTRATIVE AGENT, AND 
 WILMINGTON TRUST FSB, AS 2018 NOTES COLLATERAL AGENT, AND AS 2018 NOTES 
 AUTHORIZED
REPRESENTATIVE. 
  
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
			
	 Section 1.
	  	Definitions	  	 	1	  
			
	 Section 2.
	  	Guarantees by Subsidiary Guarantors	  	 	9	  
			
	 Section 3.
	  	Grant of Transaction Liens	  	 	11	  
			
	 Section 4.
	  	General Representations and Warranties	  	 	14	  
			
	 Section 5.
	  	Further Assurances; General Covenants	  	 	15	  
			
	 Section 6.
	  	Accounts	  	 	17	  
			
	 Section 7.
	  	Chattel Paper and Instruments	  	 	18	  
			
	 Section 8.
	  	Commercial Tort Claims	  	 	18	  
			
	 Section 9.
	  	Recordable Intellectual Property	  	 	19	  
			
	 Section 10.
	  	Proceeds of Letters of Credit	  	 	19	  
			
	 Section 11.
	  	Investment Property	  	 	20	  
			
	 Section 12.
	  	Controlled Deposit Accounts	  	 	23	  
			
	 Section 13.
	  	Operation of Collateral Accounts	  	 	24	  
			
	 Section 14.
	  	Transfer of Record Ownership	  	 	25	  
			
	 Section 15.
	  	Right to Vote Securities	  	 	26	  
			
	 Section 16.
	  	Remedies upon Event of Default	  	 	26	  
			
	 Section 17.
	  	Application of Proceeds	  	 	27	  
			
	 Section 18.
	  	Fees and Expenses; Indemnification	  	 	28	  
			
	 Section 19.
	  	Authority to Administer Collateral	  	 	28	  
			
	 Section 20.
	  	Limitation on Duty in Respect of Collateral	  	 	29	  
			
	 Section 21.
	  	General Provisions Concerning the Agent	  	 	29	  
			
	 Section 22.
	  	Termination of Transaction Liens; Release of Collateral	  	 	31	  
			
	 Section 23.
	  	Additional Subsidiary Guarantors and Lien Grantors	  	 	32	  
			
	 Section 24.
	  	Notices	  	 	32	  

  
 -i-

							
	 	  	 	  	Page	 
			
	 Section 25.
	  	No Implied Waivers; Remedies Not Exclusive	  	 	33	  
			
	 Section 26.
	  	Successors and Assigns	  	 	33	  
			
	 Section 27.
	  	Amendments and Waivers	  	 	33	  
			
	 Section 28.
	  	Choice of Law	  	 	34	  
			
	 Section 29.
	  	Waiver of Jury Trial	  	 	34	  
			
	 Section 30.
	  	Severability	  	 	34	  
			
	 Section 31.
	  	Intercreditor Agreement	  	 	34	  
			
	 Exhibit A
	  	Form of Security Agreement Supplement	  			
	 Exhibit B
	  	Form of Copyright Security Agreement	  			
	 Exhibit C
	  	Form of Patent Security Agreement	  			
	 Exhibit D
	  	Form of Trademark Security Agreement	  			
	 Exhibit E
	  	Form of Perfection Certificate	  			
	 Exhibit F
	  	Form of Issuer Control Agreement	  			
			
	 Schedule 1
	  	Equity Interests	  			
	 Schedule 2
	  	Other Securities	  			
	 Schedule 3
	  	Deposit Accounts, Securities Accounts and Commodities Accounts	  			
	 Schedule 4
	  	Commercial Tort Claims	  			
	 Schedule 5
	  	Pledged Instruments	  			
	 Schedule 6
	  	Controlled Accounts	  			

  
 -ii-

 GUARANTEE AND SECURITY AGREEMENT 

AGREEMENT dated as of December 21, 2010 among CNO FINANCIAL GROUP, INC., a Delaware corporation (the
“Company”), the SUBSIDIARY GUARANTORS party hereto and MORGAN STANLEY SENIOR FUNDING, INC., as Agent. 

WHEREAS, the Company is entering into the Credit Agreement described in Section 1 hereof, consisting on the date hereof of a
term loan facility in an aggregate principal amount of $375,000,000, the proceeds of which will be used, together with the proceeds from the offering of the Senior Secured Notes, (i) to refinance in full all indebtedness outstanding under the
Existing Credit Agreement and (ii) to pay fees and expenses incurred in connection with the foregoing; 
 WHEREAS,
the Company is willing to secure its obligations under the Credit Agreement by granting Liens on substantially all of its assets to the Agent as provided in the Security Documents; 

WHEREAS, the Company is willing to cause each of its current and future Domestic Subsidiaries (other than Insurance Subsidiaries,
Subsidiaries of Insurance Subsidiaries and Immaterial Subsidiaries) to (i) guarantee the foregoing obligations of the Company and (ii) secure such guarantee thereof by granting Liens on substantially all of the assets of such Subsidiaries
to the Agent as provided in the Security Documents; 
 WHEREAS, the Lenders are not willing to enter into the Credit
Agreement unless (i) the foregoing obligations of the Company are secured and guaranteed as described above and (ii) each guarantee thereof is secured by Liens on substantially all of the assets of the relevant Subsidiary Guarantor as
provided in the Security Documents; 
 WHEREAS, in order to secure the obligations under the Senior Secured Notes, the
Lien Grantors are concurrently granting to the collateral agent under the Senior Secured Notes Documents, for the benefit of the holders of the Senior Secured Notes, a security interest in the Collateral ranking pari passu with the Transaction
Liens, it being understood that the relative rights of the grantees in respect of the Collateral are governed by the Intercreditor Agreement; and 
 WHEREAS, upon any foreclosure or other enforcement of the Security Documents, the net proceeds of, or other collections on, the relevant Collateral are, subject to the terms of the Intercreditor
Agreement, to be received by or paid over to the Agent and applied as provided herein; 
 NOW, THEREFORE, in
consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 Section 1. Definitions. 
 (a) Terms Defined in Credit
Agreement. Terms defined in the Credit Agreement and not otherwise defined in subsection (b) or (c) of this Section have, as used herein, the respective meanings provided for therein. 

(b) Terms Defined in UCC. As used herein, each of the following terms has the meaning specified in the UCC: 

 

			
	 Term
	  	 UCC

		
	 Account
	  	9-102
	 Authenticate
	  	9-102

			
	 Term
	  	 UCC

		
	 Certificated Security
	  	8-102
	 Chattel Paper
	  	9-102
	 Commercial Tort Claim
	  	9-102
	 Commodity Account
	  	9-102
	 Commodity Contract
	  	9-102
	 Commodity Customer
	  	9-102
	 Commodity Intermediary
	  	9-102
	 Deposit Account
	  	9-102
	 Document
	  	9-102
	 Electronic Chattel Paper
	  	9-102
	 Entitlement Holder
	  	8-102
	 Entitlement Order
	  	8-102
	 Equipment
	  	9-102
	 Financial Asset
	  	8-102 & 103
	 General Intangibles
	  	9-102
	 Instrument
	  	9-102
	 Inventory
	  	9-102
	 Investment Property
	  	9-102
	 Letter-of-Credit Right
	  	9-102
	 Payment Intangible
	  	9-102
	 Record
	  	9-102
	 Securities Account
	  	8-501
	 Securities Intermediary
	  	8-102
	 Security
	  	8-102 & 103
	 Security Entitlement
	  	8-102
	 Supporting Obligation
	  	9-102
	 Tangible Chattel Paper
	  	9-102
	 Uncertificated Security
	  	8-102

 (c) Additional
Definitions. The following additional terms, as used herein, have the following meanings: 
 “Account Control
Agreement” means a Commodity Account Control Agreement, a Deposit Account Control Agreement or a Securities Account Control Agreement, as the context requires. 
 “Agent” means Morgan Stanley Senior Funding, Inc., in its capacity as administrative agent under the Loan Documents, and its successors and assigns in such capacity. 

“Article 9” means Article 9 of the UCC. 
 “Collateral” means all property, whether now owned or hereafter acquired, on which a Lien is granted or purports to be granted to the Agent pursuant to the Security Documents. When used
with respect to a specific Lien Grantor, the term “Collateral” means all its property on which such a Lien is granted, or purports to be granted, pursuant to the Security Documents. 

“Collateral Accounts” means the Controlled Commodity Accounts, the Controlled Deposit Accounts and the Controlled
Securities Accounts. 
 “Commodity Account Control Agreement” means, with respect to any Commodity Account as
to which a Lien Grantor is the Commodity Customer, an agreement reasonably satisfactory to the Agent among such Lien Grantor, the Agent and the relevant Commodity Intermediary establishing the Agent’s Control with respect to such Commodity
Account. 

  
 -2-

 “Company” has the meaning specified in the recitals hereto. 

“Control” has the following meanings: 

(a) when used with respect to any Security or Security Entitlement, the meaning specified in UCC Section 8-106;

 (b) when used with respect to any Deposit Account, the meaning specified in UCC Section 9-104;

 (c) when used with respect to any Electronic Chattel Paper, the meaning specified in UCC Section 9-105;

 (d) when used with respect to any Commodity Account or Commodity Contract, the meaning specified in UCC
Section 9-106(b); and 
 (e) when used with respect to any right to payment or performance by the issuer or
a Nominated Person in respect of a letter of credit, the meaning specified in UCC Section 9-107. 
 “Controlled
Commodity Account” means a Commodity Account as to which (i) a Lien Grantor is the Commodity Customer and (ii) a Commodity Account Control Agreement is in effect. 

“Controlled Deposit Account” means a Deposit Account (i) that is subject to a Deposit Account Control Agreement or
(ii) as to which the Agent is the Depositary Bank’s “customer” (as defined in UCC Section 4-104). 

“Controlled Securities Account” means a Securities Account that (i) is maintained in the name of a Lien Grantor at
an office of a Securities Intermediary located in the United States and (ii) together with all Financial Assets credited thereto and all related Security Entitlements, is subject to a Securities Account Control Agreement among such Lien
Grantor, the Agent and such Securities Intermediary. 
 “Copyright License” means any agreement now or
hereafter in existence granting to any Lien Grantor, or pursuant to which any Lien Grantor grants to any other Person, any right to use, copy, reproduce, distribute, prepare derivative works, display or publish any records or other materials on
which a Copyright is in existence or may come into existence, including any agreement identified in Schedule 1 to any Copyright Security Agreement. 
 “Copyright Security Agreement” means a Copyright Security Agreement, substantially in the form of Exhibit B, executed and delivered by a Lien Grantor in favor of the Agent for the benefit
of the Secured Parties. 
 “Copyrights” means all the following: (i) all copyrights under the laws of the
United States (whether or not the underlying works of authorship have been published), all registrations and recordings thereof, all copyrightable works of authorship (whether or not published), and all applications for copyrights under the laws of
the United States, including registrations, recordings and applications in the United States Copyright Office or in any similar office or agency of the United States or any State thereof, including those described in Schedule 1 to any Copyright
Security Agreement, (ii) all renewals of any of the foregoing, (iii) all claims for, and rights to sue for, past or future infringements of any of the foregoing and (iv) all income, royalties, damages and payments now or hereafter due
or payable with respect to any of the foregoing, including damages and payments for past or future infringements thereof. 

  
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 “Credit Agreement” means the Credit Agreement dated as of the date hereof
among the Company, the Lenders party thereto, and Morgan Stanley Senior Funding, Inc., as Agent. 
 “Deposit Account
Control Agreement” means, with respect to any Deposit Account of any Lien Grantor, an agreement reasonably satisfactory to the Agent among such Lien Grantor, the Agent and the relevant Depositary Bank, set forth in an authenticated Record,
(i) establishing the Agent’s Control with respect to such Deposit Account and (ii) subordinating to the relevant Transaction Lien all claims of the Depositary Bank to such Deposit Account (except its right to deduct its customary
operating charges and fees and any uncollected funds previously credited thereto). 
 “Depositary Bank” means a
bank at which a Controlled Deposit Account is maintained. 
 “Equity Interest” means (i) in the case of a
corporation, any shares of its capital stock, (ii) in the case of a limited liability company, any membership interest therein, (iii) in the case of a partnership, any partnership interest (whether general or limited) therein, (iv) in
the case of any other business entity, any participation or other interest in the equity or profits thereof, (v) any warrant, option or other right to acquire any Equity Interest described in this definition or (vi) any Security
Entitlement in respect of any Equity Interest described in this definition. 
 “Federal Government” means the
federal government of the United States or any agency or instrumentality thereof. 
 “FINRA” means the
Financial Industry Regulatory Authority. 
 “Intellectual Property” means all rights, priorities and privileges
relating to intellectual property, including Copyrights, Patents, Patent Licenses, Trademarks and Trademark Licenses, arising under the laws of the United States, which intellectual property is owned by the Lien Grantors. 

“Intellectual Property Filing” means (i) with respect to any Patent, Patent License, Trademark or Trademark
License, the filing of the applicable Patent Security Agreement or Trademark Security Agreement with the United States Patent and Trademark Office, together with an appropriately completed recordation form and (ii) with respect to any Copyright
or Copyright License, the filing of the applicable Copyright Security Agreement with the United States Copyright Office, together with an appropriately completed recordation form, in each case sufficient to record the Transaction Lien granted to the
Agent in such Recordable Intellectual Property. 
 “Intellectual Property Security Agreement” means a Copyright
Security Agreement, a Patent Security Agreement or a Trademark Security Agreement. 
 “Issuer Control
Agreement” means an Issuer Control Agreement substantially in the form of Exhibit F (with any changes that the Agent shall have approved, such approval to be evidenced by the Agent’s execution and delivery of such Issuer Control
Agreement). 
 “Lien Grantors” means the Company and the Subsidiary Guarantors. 

“Liquid Investment” means a Cash Equivalent (other than commercial paper) that matures within 30 days after it is first
included in the Collateral. 

  
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 “LLC Interest” means a membership interest or similar interest in a limited
liability company. 
 “Margin Stock” means “margin stock” as such term is defined in Regulation U of
the FRB. 
 “Material Commercial Tort Claim” means a Commercial Tort Claim involving a claim for more than
$5,000,000. 
 “Material Real Property” means real property owned in fee by a Lien Grantor with a fair market
value in excess of $5,000,000. 
 “Mortgage” means a deed of trust, trust deed, deed to secure debt or
mortgage, as applicable, made by a Lien Grantor in favor or for the benefit of the Agent on behalf of the Secured Parties in respect of Material Real Property in form and substance reasonably acceptable to the Agent. 

“Mortgage Requirement” means, with respect to any Material Real Property owned by a Lien Grantor, (i) provision of
(a) a Mortgage encumbering such Material Real Property in favor or for the benefit of the Agent on behalf of the Secured Parties, duly executed and acknowledged by each Lien Grantor that is the owner of or holder of any interest in such
Material Real Property, and otherwise in form for recording in the recording office of each applicable political subdivision where each such Material Real Property is situated, together with such certificates, affidavits, questionnaires or returns
as shall be required in connection with the recording or filing thereof to create a lien under applicable Requirements of Law, and such financing statements and any other instruments necessary to grant a mortgage lien under the laws of any
applicable jurisdiction, all of which shall be in form and substance reasonably satisfactory to the Agent; (b) fully paid American Land Title Association Lender’s Extended Coverage title insurance policies, with endorsements and in amounts
reasonably acceptable to the Agent, issued, coinsured and reinsured by title insurers reasonably acceptable to the Agent, insuring such Mortgage to be a valid first and subsisting Lien on the property described therein, free and clear of all defects
(including, but not limited to, mechanics’ and materialmen’s Liens) and encumbrances, excepting only Permitted Liens, and providing for such other affirmative insurance and such coinsurance and direct access reinsurance as the Agent may
deem reasonably necessary or desirable; (c) an ALTA survey in form and substance reasonably acceptable to the Agent (provided that the Agent may waive the requirement of this clause (c) if the burden, cost or consequences of
obtaining such survey is excessive in relation to the benefits to be obtained therefrom by the Secured Parties); (d) a completed “Life-of-Loan” Federal Emergency Management Agency Standard Flood Hazard Determination with respect to
such Material Real Property (and if any building located on such Material Real Property is determined to be in a special flood hazard area, delivery of (x) a notice about special flood hazard area status and flood disaster assistance duly
executed by the Company and each other applicable Lien Grantor relating thereto and (y) evidence of flood insurance in form and substance reasonably satisfactory to the Agent); (e) a local counsel opinion as to the due authorization,
execution and delivery and enforceability of such Mortgage in the state in which the Material Real Property described in such Mortgage is located and other matters customarily covered in real estate enforceability opinions in form and substance
reasonably acceptable to the Agent and (f) any other documents reasonably requested by the Agent; and (ii) recording of such Mortgage in the land records of the county in which such Material Real Property to be so encumbered is located.

 “Nominated Person” means a Person whom the issuer of a letter of credit (i) designates or authorizes to
pay, accept, negotiate or otherwise give value under such letter of credit and (ii) undertakes by agreement or custom and practice to reimburse. 
 “Original Lien Grantor” means any Lien Grantor that grants a Lien on any of its assets hereunder on the Effective Date. 

  
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 “own” refers to (i) in the case of personal property, the possession
of sufficient rights in property to grant a security interest therein as contemplated by UCC Section 9-203 and (ii) in the case of real property, possession of fee simple interest, and “acquire” refers to the acquisition of any
such rights. 
 “Partnership Interest” means a partnership interest, whether general or limited. 

“Patent License” means any agreement now or hereafter in existence granting to any Lien Grantor, or pursuant to which
any Lien Grantor grants to any other Person, any right with respect to any Patent or any invention now or hereafter in existence, whether patentable or not, whether a patent or application for patent is in existence on such invention or not, and
whether a patent or application for patent on such invention may come into existence or not, including any agreement identified in Schedule 1 to any Patent Security Agreement. 
 “Patent Security Agreement” means a Patent Security Agreement, substantially in the form of Exhibit C, executed and delivered by a Lien Grantor in favor of the Agent for the benefit of
the Secured Parties. 
 “Patents” means (i) all letters patent and design letters patent of the United
States and all applications for letters patent or design letters patent of the United States, including applications in the United States Patent and Trademark Office or in any similar office or agency of the United States or any State thereof,
including those described in Schedule 1 to any Patent Security Agreement, (ii) all reissues, divisions, continuations, continuations in part, revisions and extensions of any of the foregoing, (iii) all claims for, and rights to sue for,
past or future infringements of any of the foregoing and (iv) all income, royalties, damages and payments now or hereafter due or payable with respect to any of the foregoing, including damages and payments for past or future infringements
thereof. 
 “Perfection Certificate” means, with respect to any Lien Grantor, a certificate substantially in
the form of Exhibit E, completed and supplemented with the schedules contemplated thereby to the satisfaction of the Agent, and signed by an officer of such Lien Grantor. 
 “Permitted Liens” means Liens (other than the Transaction Liens) on the Collateral permitted to be created or assumed or to exist pursuant to Section 7.02 of the Credit Agreement.

 “Permitted Priority Liens” means inchoate tax Liens arising by operation of law. 

“Pledged,” when used in conjunction with any type of asset, means at any time an asset of such type that is included (or
that creates rights that are included) in the Collateral at such time. For example, “Pledged Equity Interest” means an Equity Interest that is included in the Collateral at such time and “Pledged letter of credit” means a letter
of credit that creates rights to payment or performance that are included in the Collateral at such time. 

“Post-Petition Interest” means any interest that accrues after the commencement of any case, proceeding or other action
relating to the bankruptcy, insolvency or reorganization of any one or more of the Lien Grantors (or would accrue but for the operation of applicable bankruptcy or insolvency laws), whether or not such interest is allowed or allowable as a claim in
any such proceeding. 
 “Proceeds” means all proceeds of, and all other profits, products, rents or receipts,
in whatever form, arising from the collection, sale, lease, exchange, assignment, licensing or other disposition of, or other realization upon, any Collateral, including all claims of the relevant Lien Grantor against third parties for loss of,
damage to or destruction of, or for proceeds payable under, or unearned premiums with respect to, policies of insurance in respect of, any Collateral, and any condemnation or requisition payments with respect to any Collateral. 

  
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 “Recordable Intellectual Property” means (i) Patents, (ii) Patent
Licenses, (iii) Trademarks, (iv) Trademark Licenses, (v) Copyrights and (vi) Copyright Licenses, and all rights in or under any of the foregoing. 
 “Regulated Subsidiary” means a Subsidiary as to which the consent of a governmental body or official is required for any acquisition of control or change of control thereof. 

“Release Conditions” means the following conditions for releasing all the Secured Guarantees and terminating all the
Transaction Liens: 
 (i) all Commitments under the Credit Agreement shall have expired or been terminated; and

 (ii) all Secured Obligations (other than contingent indemnification obligations not yet due and payable) shall
have been paid in full. 
 “Secured Agreement,” when used with respect to any Secured Obligation, refers
collectively to each instrument, agreement or other document that sets forth obligations of the Company, obligations of a Subsidiary Guarantor and/or rights of the holder with respect to such Secured Obligation. 

“Secured Guarantee” means, with respect to each Subsidiary Guarantor, its guarantee of the Secured Obligations under
Section 2 hereof or Section 1 of a Security Agreement Supplement. 
 “Secured Obligations” means all
Obligations (as such term is defined in the Credit Agreement) and all obligations of any Obligor under any Secured Swap Contract. 
 “Secured Parties” means the holders from time to time of the Secured Obligations including the Agents and the Lenders. 

“Secured Party Requesting Notice” means, at any time, a Secured Party that has, at least five Business Days prior
thereto, delivered to the Agent a written notice (i) stating that it holds one or more Secured Obligations and wishes to receive copies of the notices referred to in Section 21(h) and (ii) setting forth its address, facsimile number
and electronic mail address to which copies of such notices should be sent. 
 “Securities Account Control
Agreement” means, when used with respect to a Securities Account, an agreement reasonably satisfactory to the Agent among the relevant Securities Intermediary, such Lien Grantor and the Agent establishing the Agent’s Control with
respect to such Securities Account. 
 “Security Agreement Supplement” means a Security Agreement Supplement,
substantially in the form of Exhibit A, signed and delivered to the Agent for the purpose of adding a Subsidiary as a party hereto pursuant to Section 23 and/or adding additional property to the Collateral. 

“Security Documents” means this Agreement, the Security Agreement Supplements, the Commodity Account Control Agreements,
the Deposit Account Control Agreements, the Issuer Control Agreements, the Securities Account Control Agreements, the Mortgages, the Intellectual Property Security Agreements and all other supplemental or additional security agreements, control
agreements, mortgages or similar instruments delivered pursuant to the Loan Documents. 

  
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 “Subsidiary Guarantor” means each Subsidiary listed on the signature pages
hereof under the caption “Subsidiary Guarantors” and each Subsidiary that shall, at any time after the date hereof, become a “Subsidiary Guarantor” pursuant to Section 23. 

“Supporting Letter of Credit” means a letter of credit that supports the payment or performance of one or more items
included in the Collateral. 
 “Trademark License” means any agreement now or hereafter in existence granting
to any Lien Grantor, or pursuant to which any Lien Grantor grants to any other Person, any right to use any Trademark, including any agreement identified in Schedule l to any Trademark Security Agreement. 

“Trademark Security Agreement” means a Trademark Security Agreement, substantially in the form of Exhibit D, executed
and delivered by a Lien Grantor in favor of the Agent for the benefit of the Secured Parties. 
 “Trademarks”
means: (i) all trademarks, trade names, corporate names, company names, business names, fictitious business names, trade styles, service marks, logos, brand names, slogans, trade dress, prints and labels on which any of the foregoing have
appeared or appear, package and other designs, and all other source or business identifiers, and all general intangibles of like nature, and the rights in any of the foregoing which arise under applicable law, (ii) the goodwill of the business
symbolized thereby or associated with each of them, (iii) all registrations and applications in connection therewith, including registrations and applications in the United States Patent and Trademark Office or in any similar office or agency
of the United States or any State thereof, including those described in Schedule 1 to any Trademark Security Agreement, (iv) all renewals of any of the foregoing, (v) all claims for, and rights to sue for, past or future infringements of
any of the foregoing and (vi) all income, royalties, damages and payments now or hereafter due or payable with respect to any of the foregoing, including damages and payments for past or future infringements thereof. 

“Transaction Liens” means the Liens granted by the Lien Grantors under the Security Documents. 

“UCC” means the Uniform Commercial Code as in effect from time to time in the State of New York; provided that,
if perfection or the effect of perfection or non-perfection or the priority of any Transaction Lien on any Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than New York, “UCC” means the Uniform
Commercial Code as in effect from time to time in such other jurisdiction for purposes of the provisions hereof relating to such perfection, effect of perfection or non-perfection or priority. 

(d) Terms Generally. The definitions of terms herein (including those incorporated by reference to the UCC or to another document)
apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun includes the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and
“including” shall be deemed to be followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context
requires otherwise, (i) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise
modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (iii) the words

  
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“herein,” “hereof” and “hereunder,” and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any
particular provision hereof, (iv) all references herein to Sections, Exhibits and Schedules shall be construed to refer to Sections of, and Exhibits and Schedules to, this Agreement and (v) the word “property” shall be
construed to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 
 Section 2. Guarantees by Subsidiary Guarantors. 
 (a) Secured
Guarantees. Each Subsidiary Guarantor unconditionally and irrevocably guarantees the full and punctual payment of each Secured Obligation when due (whether at stated maturity, upon acceleration or otherwise). If the Company fails to pay any
Secured Obligation punctually when due, each Subsidiary Guarantor agrees that it will forthwith on demand pay the amount not so paid at the place and in the manner specified in the relevant Secured Agreement. 

(b) Secured Guarantees Unconditional. The obligations of each Subsidiary Guarantor under its Secured Guarantee shall be
unconditional and absolute and, without limiting the generality of the foregoing, shall not be released, discharged or otherwise affected by: 
 (i) any extension, renewal, settlement, compromise, waiver or release in respect of any obligation of the Company, any other Subsidiary Guarantor or any other Person under any Secured Agreement, by
operation of law or otherwise; 
 (ii) any modification or amendment of or supplement to any Secured Agreement;

 (iii) any release, impairment, non-perfection or invalidity of any direct or indirect security for any
obligation of the Company, any other Subsidiary Guarantor or any other Person under any Secured Agreement; 

(iv) any change in the corporate existence, structure or ownership of the Company, any other Subsidiary Guarantor or any
other Person or any of their respective subsidiaries, or any insolvency, bankruptcy, reorganization or other similar proceeding affecting the Company, any other Subsidiary Guarantor or any other Person or any of their assets or any resulting release
or discharge of any obligation of the Company, any other Subsidiary Guarantor or any other Person under any Secured Agreement; 
 (v) the existence of any claim, set-off or other right whatsoever (in any case, whether based on contract, tort or any other theory) that such Subsidiary Guarantor may have at any time against the
Company, any other Subsidiary Guarantor, any Secured Party or any other Person, whether in connection with the Loan Documents or any unrelated transactions, provided that nothing herein shall prevent the assertion of any such claim by separate suit
or compulsory counterclaim; 
 (vi) any invalidity or unenforceability relating to or against the Company, any
other Subsidiary Guarantor or any other Person for any reason of any Secured Agreement, or any provision of applicable law or regulation purporting to prohibit the payment of any Secured Obligation by the Company, any other Subsidiary Guarantor or
any other Person; 
 (vii) any manner of application of Collateral or any other collateral, or proceeds thereof,
to all or any of the Secured Obligations, or any manner of sale or other disposition of any Collateral or any other collateral for all or any of the Secured Obligations or any other Obligations of any Obligor under the Loan Documents or any other
assets of any Obligor or any of its Subsidiaries; 

  
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 (viii) any failure of any Secured Party to disclose to any Subsidiary
Guarantor any information relating to the business, condition (financial or otherwise), operations, performance, properties or prospects of any other Obligor now or hereafter known to such Secured Party (each Subsidiary Guarantor waiving any duty on
the part of the Secured Parties to disclose such information); or 
 (ix) other than satisfaction in full of the
Release Conditions, any other act or omission to act or delay of any kind by the Company, any other Subsidiary Guarantor, any other party to any Secured Agreement, any Secured Party or any other Person, or any other circumstance whatsoever that
might, but for the provisions of this clause (ix), constitute a legal or equitable discharge of or defense to any obligation of any Subsidiary Guarantor hereunder. 
 (c) Release of Secured Guarantees. (i) All the Secured Guarantees will be released when all the Release Conditions are satisfied. If at any time any payment of a Secured Obligation is
rescinded or must be otherwise restored or returned upon the insolvency or receivership of the Company or otherwise, the Secured Guarantees shall be reinstated with respect thereto as though such payment had been due but not made at such time.

 (ii) If all the capital stock of a Subsidiary Guarantor or all the assets of a Subsidiary Guarantor are sold to a Person
other than the Company or one of its Subsidiaries in a transaction permitted by the Credit Agreement (any such sale, a “Sale of Subsidiary Guarantor”), the Secured Guarantee of such Subsidiary Guarantor shall automatically be
discharged and released without any further action by the Agent or any other Secured Party effective as of the time of such Sale of Subsidiary Guarantor; provided that, if such sale is an Asset Sale, arrangements reasonably satisfactory to the Agent
have been made to apply the Net Proceeds thereof as (and to the extent) required by the Credit Agreement. Such release shall not require the consent of any Secured Party, and the Agent shall be fully protected in relying on a certificate of the
Company as to whether any particular sale constitutes a Sale of Subsidiary Guarantor. 
 (iii) In addition to any release
permitted by subsection (ii), the Agent may release any Secured Guarantee with the prior written consent of the Required Lenders; provided that any release of all or substantially all the Secured Guarantees shall require the consent of all
the Lenders. 
 (d) Waiver by Subsidiary Guarantors. Each Subsidiary Guarantor irrevocably waives acceptance hereof,
presentment, demand, protest and any notice not provided for herein, as well as any requirement that at any time any action be taken by any Person against the Company, any other Subsidiary Guarantor or any other Person. 

(e) Subrogation. A Subsidiary Guarantor that makes a payment with respect to a Secured Obligation hereunder shall be subrogated to
the rights of the payee against the Company with respect to such payment; provided that no Subsidiary Guarantor shall enforce any payment by way of subrogation against the Company, or by reason of contribution against any other Subsidiary
Guarantor of such Secured Obligation, until all of the Release Conditions have been satisfied in full. If any amount shall be paid to any Subsidiary Guarantor in violation of the immediately preceding sentence at any time prior to the satisfaction
in full of the Release Conditions, such amount shall be received and held in trust for the benefit of the Secured Parties, shall be segregated from other property and funds of such Subsidiary Guarantor and shall forthwith be paid or delivered to the
Agent in the same form as so received (with any necessary endorsement or assignment) to be credited and applied to the Secured Obligations and all other amounts payable under this Agreement in accordance with the terms of the Loan Documents, or to
be held as Collateral for any Secured Obligations or other amounts payable under this Agreement thereafter arising. 

  
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 (f) Stay of Acceleration. If acceleration of the time for payment of any Secured
Obligation by the Company is stayed by reason of the insolvency or receivership of the Company or otherwise, all Secured Obligations otherwise subject to acceleration under the terms of any Secured Agreement shall nonetheless be payable by the
Subsidiary Guarantors hereunder forthwith on demand by the Agent. 
 (g) Right of Set-Off. In addition to any rights and
remedies of the Secured Parties provided by applicable law, if any Secured Obligation is not paid promptly when due (after the passage of any applicable cure period as set forth in the Loan Documents), each of the Secured Parties and their
respective Affiliates is authorized at any time and from time to time, without prior notice to any Subsidiary Guarantor, any such notice being waived by each Subsidiary Guarantor, 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 by, and other indebtedness at any time owing by, such Secured Party or Affiliate to or for the credit or the account of any Subsidiary Guarantor against the
obligations of such Subsidiary Guarantor under its Secured Guarantee, irrespective of whether or not such Secured Party shall have made any demand thereunder and although such obligations may be contingent or unmatured; provided that neither
any Secured Party nor any of its Affiliates shall be entitled to exercise any such set off with respect to any trust or payroll account. Each Secured Party agrees to promptly notify the Company and the Agent after any such set off and application
made by such Secured Party; provided that the failure to give such notice shall not affect the validity of such set off and application. 
 (h) Continuing Guarantee. Each Secured Guarantee is a continuing guarantee, shall be binding on the relevant Subsidiary Guarantor and its successors and assigns, and shall inure to the benefit of
and be enforceable by the Agent or the Secured Parties and their successors, transferees and assigns. If all or part of any Secured Party’s interest in any Secured Obligation is assigned or otherwise transferred, the transferor’s rights
under each Secured Guarantee, to the extent applicable to the obligation so transferred, shall automatically be transferred with such obligation. No Subsidiary Guarantor shall have the right to assign its rights hereunder or any interest herein
without the prior written consent of the Secured Parties. 
 (i) Limitation on Obligations of Subsidiary Guarantor.
Notwithstanding anything to the contrary herein, it is the intention of the parties hereto that the Secured Guarantee of each Subsidiary Guarantor not constitute a fraudulent conveyance under applicable fraudulent conveyance provisions of the United
States Bankruptcy Code or any comparable provision of applicable state law. To effectuate that intention, the parties hereto hereby agree that the obligations of each Subsidiary Guarantor under its Secured Guarantee are limited to the maximum amount
that would not render such Subsidiary Guarantor’s obligations subject to avoidance under applicable fraudulent conveyance provisions of the United States Bankruptcy Code or any comparable provision of applicable state law. 

Section 3. Grant of Transaction Liens. 
 (a) The Company, in order to secure the Secured Obligations, and each Subsidiary Guarantor listed on the signature pages hereof, in order to secure its Secured Guarantee, grants to the Agent for the
benefit of the Secured Parties a continuing security interest in all right, title and interest of the Company or such Subsidiary Guarantor, as the case may be, in, to and under the following property of the Company or such Subsidiary Guarantor, as
the case may be, whether now owned or existing or hereafter acquired or arising and regardless of where located: 

(i) all Accounts; 

  
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 (ii) all Chattel Paper; 

(iii) the Commercial Tort Claims described in Schedule 4; 

(iv) all Deposit Accounts; 
 (v) all Documents; 
 (vi) all Equipment; 

(vii) all General Intangibles (including any Equity Interests in other Persons that do not constitute Investment
Property); 
 (viii) all Instruments; 

(ix) all Inventory; 
 (x) all Investment Property; 
 (xi) all Letter-of-Credit Rights;

 (xii) all Intellectual Property; 

(xiii) all books and records (including customer lists, credit files, computer programs, printouts and other computer
materials and records) of such Original Lien Grantor pertaining to any of its Collateral; 
 (xiv) such Original
Lien Grantor’s ownership interest in (1) its Collateral Accounts, (2) all Financial Assets credited to its Collateral Accounts from time to time and all Security Entitlements in respect thereof, (3) all cash held in its
Collateral Accounts from time to time and (4) all other money in the possession of the Agent; and 
 (xv)
all Supporting Obligations and Proceeds of the Collateral described in the foregoing clauses (i) through (xiv); 
 provided that the
following property is excluded from the foregoing security interests (“Excluded Property”): (A) motor vehicles the perfection of a security interest in which is excluded from the UCC in the relevant jurisdiction,
(B) voting Equity Interests in any first-tier Foreign Subsidiary, to the extent (but only to the extent) required to prevent the Collateral from including more than 65% of all voting Equity Interests in such first-tier Foreign Subsidiary,
(C) Capital Stock of any Foreign Subsidiary that is not a first-tier Foreign Subsidiary, (D) Equipment leased by an Original Lien Grantor under a lease that prohibits the granting of a Lien on such Equipment, (E) cash and Cash
Equivalents maintained in any trust or payroll account, so long as such account are maintained as a trust or payroll account respectively, (F) Cash and Cash Equivalents maintained in any account of any Lien Grantor that is an investment adviser
registered under the Investment Advisers Act of 1940 so long as (x) such account is maintained to satisfy qualified professional asset manager requirements under ERISA and (y) the aggregate amount of cash and Cash Equivalents in all such
accounts does not exceed $2,000,000 at any time, (G) cash and Cash Equivalents maintained in any account of any Lien Grantor that is a broker-dealer registered under the Exchange Act and a member of FINRA so long as (x) such account is
maintained to satisfy minimum net regulatory capital requirements imposed by FINRA regulations pursuant to the Exchange Act and (y) the aggregate amount of cash and Cash Equivalents in all such accounts does not exceed $10,000,000 at any time,
(H)

  
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intent-to-use trademark applications to the extent that, and solely during the period in which, the grant of a security interest therein would impair the validity and enforceability of such
intent to use trademark applications under applicable United States federal law, (I) any contract, permit, lease, license or other agreement to the extent that the grant of a security interest therein would violate applicable law, or violate
the terms of such contract, permit, lease, license or other agreement (in each case, after giving effect to applicable provisions of the UCC), (J) any leasehold improvements to the extent that the grant of a security interest therein would
violate the related lease, (K) assets located outside the United States to the extent a Lien on such assets cannot be perfected by the filing of UCC financing statements (or Personal Property Security Act (PPSA) statements), (L) assets
subject to a purchase money lien, capitalized lease obligation or similar arrangement, in each case as permitted by the Senior Secured Notes Indenture and the Credit Agreement, to the extent that the contract or other agreement in which such Lien is
granted (or the documentation providing for such capitalized lease obligation or similar arrangement) prohibits such assets from being Collateral and only for so long as such Lien remains outstanding, (M) any real property or real property
interests (including leasehold interests) other than Material Real Property, (N) subject to Section 3(e) below, Margin Stock and (O) proceeds and products of any and all of the foregoing excluded assets described in clauses
(A) through (N) above only to the extent such proceeds and products would constitute property or assets of the type described in clauses (A) through (N) above. Each Original Lien Grantor shall use commercially reasonable efforts
to obtain any consent that is reasonably obtainable and required for any property described in clause (D), (I), (J) or (L) above to cease to constitute Excluded Property. Notwithstanding the foregoing, (i) property in which a security
interest is granted pursuant to Section 5(g) shall not constitute Excluded Property for so long as the Other First Lien Obligations are secured by such property and (ii) all assets of Insurance Subsidiaries (including cash and Cash
Equivalents temporarily held by Lien Grantors on behalf of, and for the benefit of, Insurance Subsidiaries) shall be Excluded Property. 
 (b) With respect to each right to payment or performance included in the Collateral from time to time, the Transaction Lien granted therein includes a continuing security interest in (i) any
Supporting Obligation that supports such payment or performance and (ii) any Lien that (x) secures such right to payment or performance or (y) secures any such Supporting Obligation. 

(c) The Transaction Liens are granted as security only and shall not subject the Agent or any other Secured Party to, or transfer or in
any way affect or modify, any obligation or liability of any Lien Grantor with respect to any of the Collateral or any transaction in connection therewith. 
 (d) If the governmental body or official having jurisdiction over any Regulated Subsidiary determines that the pledge of the shares of capital stock of such Regulated Subsidiary hereunder constitutes the
acquisition of or a change of control with respect to such Regulated Subsidiary as to which the prior approval of such governmental body or official was required, then, immediately upon the relevant Lien Grantor’s (1) written
memorialization of oral notice or (2) receipt of written notice from such governmental body or official of such determination and without any action on the part of the Agent or any other Person, such pledge shall be rendered void ab
initio and of no effect. Upon any such occurrence, (i) the Agent shall, at such Lien Grantor’s written request and expense, return all certificates representing such capital stock to such Lien Grantor and execute and deliver such
documents as such Lien Grantor shall reasonably request to evidence such Lien Grantor’s retention of all rights in such capital stock and (ii) such Lien Grantor shall, if requested by the Agent or the Required Lenders, promptly submit a
request to the relevant governmental body or official for approval of the pledge of such shares to the Agent hereunder and, upon receipt of such approval, shall forthwith deliver to the Agent certificates representing all the outstanding shares of
capital stock of such Regulated Subsidiary (subject to the limitation in Section 11(m) if such Regulated Subsidiary is a Foreign Subsidiary) to be held as Collateral hereunder. 

  
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 (e) Margin Stock shall not constitute Excluded Property to the extent the Agent or the
Required Lenders give written notice to the Company that such Margin Stock shall not constitute Excluded Property. 

Section 4. General Representations and Warranties. Each Original Lien Grantor represents and warrants that: 

(a) Such Lien Grantor is duly organized, validly existing and in good standing under the laws of the jurisdiction
identified as its jurisdiction of organization in its Perfection Certificate. 
 (b) Schedule 1 lists all
Equity Interests in Subsidiaries and Affiliates owned by such Lien Grantor as of the Effective Date. Such Lien Grantor holds all such Equity Interests directly (i.e., not through a Subsidiary, a Securities Intermediary or any other Person).

 (c) Schedule 2 lists, as of the Effective Date, all Securities owned by such Lien Grantor (except
Securities evidencing Equity Interests in Subsidiaries and Affiliates). 
 (d) Schedule 3 lists, as of the
Effective Date, (i) all Securities Accounts to which Financial Assets are credited in respect of which such Lien Grantor owns Security Entitlements, (ii) all Commodity Accounts in respect of which such Lien Grantor is the Commodity
Customer and (iii) all Deposit Accounts in the name of such Lien Grantor. 
 (e) All Pledged Equity
Interests owned by such Lien Grantor are owned by it free and clear of any Lien other than Permitted Liens. All shares of capital stock included in such Pledged Equity Interests (including shares of capital stock in respect of which such Lien
Grantor owns a Security Entitlement) have been duly authorized and validly issued and are fully paid and non-assessable. None of such Pledged Equity Interests is subject to any option to purchase or similar right of any Person. Such Lien Grantor is
not and will not become a party to or otherwise bound by any agreement (except as permitted by the Credit Agreement) which restricts in any manner the rights of any present or future holder of any Pledged Equity Interest with respect thereto.

 (f) Such Lien Grantor has good and marketable title to, a right to use, or a valid leasehold interest in, all
its Collateral, except for such defects in title or interests as could not, individually or in the aggregate with respect to all Lien Grantors, reasonably be expected to have a Material Adverse Effect. The property of such Lien Grantor is subject to
no Liens, other than Liens permitted under Section 7.02 of the Credit Agreement. 
 (g) Such Lien Grantor
has not performed any acts that could reasonably be expected to prevent the Agent from enforcing any of the provisions of the Security Documents or that would limit the Agent in any such enforcement. No authorized financing statement, security
agreement, mortgage or similar or equivalent document or instrument covering all or part of the Collateral owned by such Lien Grantor is on file or of record in any jurisdiction in which such filing or recording would be effective to perfect or
record a Lien on such Collateral, except financing statements, mortgages or other similar or equivalent documents with respect to Liens permitted under Section 7.02 of the Credit Agreement. After the Effective Date, no Collateral owned by such
Lien Grantor will be in the possession or under the Control of any other Person having a claim thereto or security interest therein, other than a Lien permitted under Section 7.02 of the Credit Agreement. 

  
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 (h) The Transaction Liens on all Collateral owned by such Lien Grantor
(i) have been validly created, (ii) will attach to each item of such Collateral on the Effective Date (or, if such Lien Grantor first obtains rights thereto on a later date, on such later date) and (iii) when so attached, will secure
all the Secured Obligations or such Lien Grantor’s Secured Guarantee, as the case may be. 
 (i) Such Lien
Grantor has delivered a Perfection Certificate to the Agent. The information set forth therein is correct and complete as of the Effective Date. Within 60 days after the Effective Date, such Lien Grantor will furnish (or cause to be furnished) to
the Agent a file search report from each UCC filing office listed in its Perfection Certificate, showing the filing made at such filing office to perfect the Transaction Liens on its Collateral. 

(j) When UCC financing statements describing the Collateral as set forth in the Perfection Certificate have been filed in
the offices specified in such Perfection Certificate, the Transaction Liens will constitute perfected security interests in the Collateral owned by such Lien Grantor to the extent that a security interest therein may be perfected by filing pursuant
to the UCC, prior to all Liens and rights of others therein except Permitted Liens that have priority over the Transaction Liens by operation of law. When, in addition to the filing of such UCC financing statements, the applicable Intellectual
Property Filings have been made with respect to such Lien Grantor’s Recordable Intellectual Property (including any future filings required pursuant to Sections 5(a) and 9(a)), the Transaction Liens will constitute perfected security interests
in all right, title and interest of such Lien Grantor in its Recordable Intellectual Property to the extent that security interests therein may be perfected by such filings, prior to all Liens and rights of others therein except Permitted Liens.
Except for (i) the filing of such UCC financing statements and (ii) such Intellectual Property Filings, no registration, recordation or filing with, and no authorization or approval or other action by, any governmental body, agency or
official is required in connection with the execution or delivery of the Security Agreement or is necessary for the validity or enforceability thereof or for the perfection or due recordation of the Transaction Liens or (except with respect to the
capital stock of any Regulated Subsidiary) for the enforcement of the Transaction Liens. 
 (k) If such Lien
Grantor is also a Subsidiary Guarantor, in executing and delivering this Agreement (including providing its Secured Guarantee), such Lien Grantor has (i) without reliance on the Agent or any other Secured Party or any information received from
the Agent or any other Secured Party and based upon such documents and information it deems appropriate, made an independent investigation of the transactions contemplated by the Loan Documents and the Company, the Company’s business, assets,
operations, prospects and condition, financial or otherwise, and any circumstances which may bear upon such transactions, the Company or the obligations and risks undertaken herein with respect to the Secured Obligations, (ii) adequate means to
obtain from the Company on a continuing basis information concerning the Company, (iii) full and complete access to the Loan Documents and any other documents executed in connection with the Loan Documents and (iv) not relied and will not
rely upon any representations or warranties of the Agent or any other Secured Party not embodied herein or any acts heretofore or hereafter taken by the Agent or any other Secured Party (including any review by the Agent or any other Secured Party
of the affairs of the Company). 
 Section 5. Further Assurances; General Covenants. Each Lien Grantor covenants as
follows: 
 (a) Such Lien Grantor will at the Company’s expense, execute, deliver, file and record any
statement, assignment, instrument, document, agreement or other paper and take any other action (including any Intellectual Property Filing and any filing of financing or continuation statements under the UCC) that from time to time may be
necessary, or that the Agent may reasonably request, in order to: 
 (i) create, preserve, perfect or confirm the
Transaction Liens on such Lien Grantor’s Collateral; 

  
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 (ii) in the case of Pledged Deposit Accounts, Pledged Letter-of-Credit
Rights, Pledged Electronic Chattel Paper and Pledged Investment Property, cause the Agent to have Control thereof; or 
 (iii) enable the Agent to exercise and enforce any of its rights, powers and remedies with respect to any of such Lien Grantor’s Collateral. 

In furtherance of the foregoing, in respect of the insurance policies required by Section 6.05 of the Credit Agreement
relating to any property or business of such Lien Grantor, such Lien Grantor shall deliver to the Agent, on the Effective Date (with respect to existing polices) and promptly following the entry into new policies or the renewal, extension or
modification of existing policies, a copy of, or a certificate as to coverage under such policies, each of which shall (i) within 30 days of the date of such delivery, be endorsed or otherwise amended to include a “standard” or
“New York” lender’s loss payable or mortgagee endorsement (as applicable) naming the Agent as mortgagee or loss payee (in the case of property insurance) or additional insured on behalf of the Secured Parties (in the case of liability
insurance), as applicable and (ii) to the extent available, provide that no cancellation, material addition in amount or material change in coverage shall be effective until after 30 days’ notice thereof to the Agent, in form and substance
reasonably acceptable to the Agent. 
 To the extent permitted by applicable law, such Lien Grantor authorizes the Agent to
execute and file such financing statements or continuation statements, and amendments thereto, including, without limitation, one or more financing statements indicating that such financing statements cover all assets or all personal property (or
words of similar effect) of such Lien Grantor, in each case without such Lien Grantor’s signature appearing thereon, and regardless of whether any particular asset described in such financing statement falls within the scope of the UCC or the
granting clause of this Agreement. Such Lien Grantor agrees (but makes no representation that the applicable filing officer shall accept) that a carbon, photographic, photostatic or other reproduction of this Agreement or of a financing statement is
sufficient as a financing statement. Such Lien Grantor constitutes the Agent its attorney-in-fact to execute and file, in the event such Lien Grantor fails to do so promptly, all Intellectual Property Filings and other filings required or so
requested for the foregoing purposes, all such acts of such attorney being hereby ratified and confirmed; and such power, being coupled with an interest, shall be irrevocable until all the Transaction Liens granted by such Lien Grantor terminate
pursuant to Section 22. The Company will pay the reasonable costs of, or incidental to, any Intellectual Property Filings and any recording or filing of any financing or continuation statements or other documents recorded or filed pursuant
hereto. 
 (b) Such Lien Grantor will not (i) change its name or corporate structure or (ii) change its
location (determined as provided in UCC Section 9-307), without first giving the Agent at least 10 days’ prior written notice thereof (or such shorter period as the Agent may agree in writing) and taking all actions that are necessary or
required by the Agent for the purpose of perfecting or protecting the security interest granted by this Agreement. 

  
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 (c) If any of its Collateral with a value in excess of $500,000 (or
$1,000,000 when taken together with the Collateral of the other Lien Grantors) is in the possession or control of a warehouseman, bailee or agent at any time, such Lien Grantor will (i) notify such warehouseman, bailee or agent of the relevant
Transaction Liens, (ii) instruct such warehouseman, bailee or agent to hold all such Collateral for the Agent’s account subject to the Agent’s instructions (which shall permit such Collateral to be removed by such Lien Grantor in the
ordinary course of business until the Agent notifies such warehouseman, bailee or agent that an Event of Default has occurred and is continuing), (iii) use commercially reasonable efforts to cause such warehouseman, bailee or agent to
Authenticate a Record acknowledging that it holds possession of such Collateral for the Agent’s benefit and (iv) make any such authenticated Record available to the Agent. 

(d) Such Lien Grantor will not sell, lease, exchange, assign or otherwise dispose of, or grant any option with respect to,
any of its Collateral, other than licenses of Intellectual Property granted in the ordinary course of business; provided that such Lien Grantor may do any of the foregoing unless (i) doing so would violate a covenant in the Credit
Agreement or (ii) an Event of Default shall have occurred and be continuing and the Agent shall have notified such Lien Grantor that its right to do so is terminated, suspended or otherwise limited. 

(e) Such Lien Grantor will, promptly upon request, provide to the Agent all information and evidence concerning such Lien
Grantor’s Collateral that the Agent may reasonably request to enable it to enforce the provisions of the Security Documents. 
 (f) Upon the acquisition of any Material Real Property by any Lien Grantor or any real property owned by any Lien Grantor becoming Material Real Property (as of the end of any Fiscal Quarter), such Lien
Grantor will cause such Material Real Property to be subjected to a Lien securing the Secured Obligations and will take such actions as shall be necessary or reasonably requested by the Agent to grant and perfect or record such Lien in accordance
with the Mortgage Requirement and to satisfy the other conditions of the Mortgage Requirement within ninety (90) days of the requirement becoming applicable (or such longer period as the Agent may agree in its discretion). 

(g) Such Lien Grantor shall not incur or suffer to exist any Lien (the “Initial Lien”) on any property
(including any property that would otherwise be Excluded Property) to secure any Other First Lien Obligations (as defined in the Intercreditor Agreement) or take any action to perfect any such security interest, unless such Lien Grantor concurrently
grants a Lien to the Agent to secure the Secured Obligations ranking pari passu with such Initial Lien securing such Other First Lien Obligations and takes such action to perfect such Lien; provided that any such Lien on property that would
otherwise be Excluded Property created to secure the Secured Obligations pursuant to this clause (g) shall provide by its terms that upon the release and discharge of the Initial Lien on such property by the Collateral Agent (as defined in the
Intercreditor Agreement) for such Other First Lien Obligations, the Lien on such property securing the Secured Obligations shall be automatically and unconditionally released and discharged and such Lien Grantor may take any action necessary to
memorialize such release or discharge. 
 (h) Each Lien Grantor agrees that it will provide the Agent with prompt
written notice (and in any case within 30 days) of the acquisition of any Margin Stock by such Lien Grantor, including a description thereof in reasonable detail. 
 Section 6. Accounts. Each Lien Grantor represents, warrants and covenants that if an Event of Default shall have occurred and be continuing, such Lien Grantor will, if requested to do so by
the Agent, promptly notify (and to the extent it fails to do so promptly, such Lien Grantor authorizes the Agent so to 

  
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notify) each account debtor in respect of any of its Accounts that such Accounts have been assigned to the Agent hereunder, and that any payments due or to become due in respect of such Accounts
are to be made directly to the Agent or its designee for the period during which such Event of Default is continuing. 

Section 7. Chattel Paper and Instruments. Except as to actions to be taken by the Agent, each Lien Grantor represents,
warrants and covenants as follows: 
 (a) On the Effective Date (in the case of an Original Lien Grantor) or the
date on which it signs and delivers its first Security Agreement Supplement (in the case of any other Lien Grantor), such Lien Grantor will deliver to the Agent as Collateral hereunder (i) all Pledged Tangible Chattel Paper, provided that
delivery of the Pledged Tangible Chattel Paper shall be required pursuant to this paragraph only to the extent that the aggregate value of all Pledged Tangible Chattel Paper that has not been delivered would exceed $5,000,000 and (ii) each
Pledged Instrument having a value in excess of $2,000,000 then owned by such Lien Grantor. Thereafter, whenever such Lien Grantor acquires any other Pledged Tangible Chattel Paper or Pledged Instrument having a value in excess of $2,000,000, such
Lien Grantor will immediately deliver such Pledged Tangible Chattel Paper or Pledged Instrument to the Agent as Collateral hereunder. Notwithstanding the foregoing, all debt owing by the Company or any of its Subsidiaries to a Lien Grantor
(regardless of the value thereof) shall be pledged by delivery to the Agent of an intercompany note in form and substance reasonably acceptable to the Agent. 
 (b) So long as no Event of Default shall have occurred and be continuing, the Agent will, promptly upon request by the relevant Lien Grantor, make appropriate arrangements for making any Pledged Tangible
Chattel Paper or Pledged Instrument available to it for purposes of presentation, collection or renewal (any such arrangement to be effected, to the extent deemed appropriate by the Agent, against trust receipt or like document). 

(c) Schedule 5 lists, as of the Effective Date, all Pledged Instruments. 

(d) All Pledged Tangible Chattel Paper and Pledged Instruments owned by such Lien Grantor, when delivered to the Agent (to
the extent such delivery is required), will be indorsed to the order of the Agent, or accompanied by duly executed instruments of assignment, all in form and substance reasonably satisfactory to the Agent. 

(e) Upon the delivery of any Pledged Tangible Chattel Paper or Pledged Instrument owned by such Lien Grantor to the Agent,
the Transaction Lien on such Collateral will be perfected, subject to no prior Liens or rights of others. 
 (f)
Each Lien Grantor will take (or cause others to take) all actions required under UCC Section 9-105 to cause the Agent to obtain and maintain Control of any and all Electronic Chattel Paper owned by such Lien Grantor from time to time, provided
that such Lien Grantor’s actions to cause the Agent to obtain and maintain Control of such Electronic Chattel shall be required pursuant to this paragraph only to the extent that the aggregate value of all Electronic Chattel Paper then owned by
such Lien Grantor and not subject to the Agent’s Control would exceed $5,000,000. 
 Section 8. Commercial Tort
Claims. Each Lien Grantor represents, warrants and covenants as follows: 
 (a) In the case of an Original
Lien Grantor, Schedule 4 accurately describes, with the specificity required to satisfy Official Comment 5 to UCC Section 9-108, each Material Commercial 

  
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Tort Claim with respect to which such Original Lien Grantor is the claimant as of the Effective Date. In the case of any other Lien Grantor, Schedule 4 to its first Security Agreement
Supplement will accurately describe, with the specificity required to satisfy said Official Comment 5, each Material Commercial Tort Claim with respect to which such Lien Grantor is the claimant as of the date on which it signs and delivers such
Security Agreement Supplement. 
 (b) If any Lien Grantor acquires a Material Commercial Tort Claim after the
Effective Date (in the case of an Original Lien Grantor) or the date on which it signs and delivers its first Security Agreement Supplement (in the case of any other Lien Grantor), such Lien Grantor will promptly sign and deliver to the Agent a
Security Agreement Supplement granting a security interest in such Commercial Tort Claim (which shall be described therein with the specificity required to satisfy said Official Comment 5) to the Agent for the benefit of the Secured Parties.

 (c) Upon the filing of a UCC financing statement in the jurisdiction under the laws of which the relevant Lien
Grantor is organized, the Transaction Lien on each Commercial Tort Claim described pursuant to subsection (a) or (b) above will be perfected, subject to no prior Liens or rights of others, except for Permitted Liens that have priority over
the Transaction Liens by operation of law. 
 Section 9. Recordable Intellectual Property. Each Lien Grantor
covenants as follows: 
 (a) On the Effective Date (in the case of an Original Lien Grantor) or the date on which
it signs and delivers its first Security Agreement Supplement (in the case of any other Lien Grantor), such Lien Grantor will sign and deliver to the Agent Intellectual Property Security Agreements with respect to all Recordable Intellectual
Property then owned by it. Concurrently with (or prior to) each delivery of annual financial statements pursuant to Section 6.01(a) of the Credit Agreement, it will sign and deliver to the Agent any Intellectual Property Security Agreement
necessary to grant Transaction Liens on all Recordable Intellectual Property owned by it on December 31 of the most recently ended year covered by such financial statements that is not covered by any previous Intellectual Property Security
Agreement so signed and delivered by it. In each case, it will promptly make all Intellectual Property Filings necessary to record the Transaction Liens on such Recordable Intellectual Property. 

(b) Such Lien Grantor will notify the Agent promptly if it knows that any application or registration relating to any
Recordable Intellectual Property owned or licensed by it may become abandoned or dedicated to the public, or of any adverse determination or development (including the institution of, or any adverse determination or development in, any proceeding in
the United States Copyright Office, the United States Patent and Trademark Office or any court) regarding such Lien Grantor’s ownership of such Recordable Intellectual Property, its right to register or patent the same, or its right to keep and
maintain the same; provided that the foregoing shall not apply to the extent that any such event, individually or together with all such events, could not reasonably be expected to have a Material Adverse Effect. 

Section 10. Proceeds of Letters of Credit. Except as to actions to be taken by the Agent, each Lien Grantor represents,
warrants and covenants as follows: 
 (a) On the Effective Date (in the case of an Original Lien Grantor) or the
date on which it signs and delivers its first Security Agreement Supplement (in the case of any other Lien Grantor), such Lien Grantor will deliver to the Agent each letter of credit having a face amount in excess of $2,500,000 (the
“Specified Letters of Credit”). 

  
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 (b) Notwithstanding the foregoing, so long as no Event of Default shall have
occurred and be continuing, the Agent will, promptly upon request by any Lien Grantor, make appropriate arrangements for making any Specified Letter of Credit delivered to the Agent pursuant to subsection (a) above available to such Lien
Grantor to facilitate the administration thereof or the exercise of its rights thereunder (any such arrangement to be effected, to the extent deemed appropriate by the Agent, against trust receipt or like document). 

(c) Such Lien Grantor, by granting a security interest in its Letter-of-Credit Rights to the Agent, intends to (and hereby
does) assign to the Agent its rights (including its contingent rights) to the proceeds of all letters of credit of which it is or hereafter becomes a beneficiary. If any such letter of credit is not a Supporting Letter of Credit, such Lien Grantor
will (i) use commercially reasonable efforts to cause the issuer of such letter of credit and each Nominated Person (if any) with respect thereto to consent to such assignment of the proceeds thereof and (ii) deliver written evidence of
any such consent obtained to the Agent. 
 (d) The Transaction Lien on the relevant Lien Grantor’s rights to
the proceeds of each letter of credit under which such Lien Grantor is a beneficiary will be perfected, subject to no prior Liens or rights of others, if either (i) such letter of credit is a Supporting Letter of Credit and the Transaction Lien
on the item of Collateral supported thereby has been perfected or (ii) the relevant issuing bank and each relevant Nominated Person (if any) shall have consented to the assignment of the proceeds thereof set forth in subsection (c) above.

 (e) If an Event of Default shall have occurred and be continuing, such Lien Grantor will, promptly upon
request by the Agent, notify (and in the event such Lien Grantor fails to do so promptly, such Lien Grantor authorizes the Agent to notify) the issuer and each Nominated Person with respect to each of its Pledged letters of credit that (i) the
proceeds thereof have been assigned to the Agent hereunder and (ii) any payments due or to become due in respect thereof are to be made directly to the Agent or its designee for the period during which such Event of Default is continuing.

 Section 11. Investment Property. Each Lien Grantor represents, warrants and covenants as follows: 

(a) Certificated Securities. On the Effective Date (in the case of an Original Lien Grantor) or the date on which
it signs and delivers its first Security Agreement Supplement (in the case of any other Lien Grantor), such Lien Grantor will deliver to the Agent as Collateral hereunder all certificates representing Pledged Certificated Securities then owned by
such Lien Grantor. Thereafter, whenever such Lien Grantor acquires any other certificate representing a Pledged Certificated Security, such Lien Grantor will promptly deliver such certificate to the Agent as Collateral hereunder. The provisions of
this subsection are subject to the limitation in Section 11(m) in the case of voting Equity Interests in a Foreign Subsidiary. 
 (b) Uncertificated Securities. 
 (i) On the Effective Date
(in the case of an Original Lien Grantor) or the date on which it signs and delivers its first Security Agreement Supplement (in the case of any other Lien Grantor), such Lien Grantor will enter into (and, if the relevant issuer is a Subsidiary,
cause, or if the relevant issuer is not a Subsidiary, use commercially reasonable efforts to cause, the relevant issuer to enter into) an Issuer Control Agreement in respect of each Pledged Uncertificated Security then owned by such Lien Grantor and
deliver such Issuer Control Agreement to the Agent (which shall enter into the same). Thereafter, whenever such Lien Grantor acquires any other 

  
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Pledged Uncertificated Security, such Lien Grantor will enter into (and, if the relevant issuer is a Subsidiary, cause, or if the relevant issuer is not a Subsidiary, use commercially reasonable
efforts to cause, the relevant issuer to enter into) an Issuer Control Agreement in respect of such Pledged Uncertificated Security and deliver such Issuer Control Agreement, if any, to the Agent (which shall enter into the same). The provisions of
this subsection are subject to (i) the limitation in Section 11(m) in the case of voting Equity Interests in a Foreign Subsidiary and (ii) Sections 11(n) and 14(c). 

(ii) If any Pledged Uncertificated Partnership Interest or any Pledged Uncertificated LLC Interest that was not considered
a security under the UCC as of the Effective Date becomes a security under the UCC thereafter, the Lien Grantor that originally pledged such interest shall promptly after the date on which such interest becomes an uncertificated security enter into
(and, if the relevant issuer is a Subsidiary, cause, or if the relevant issuer is not a Subsidiary, use commercially reasonable efforts to cause, the relevant issuer to enter into) an Issuer Control Agreement in respect of each such Pledged
Uncertificated Security then owned by such Lien Grantor and deliver such Issuer Control Agreement to the Agent (which shall enter into the same). 
 (c) Security Entitlements. 
 (i) All Security Entitlements
owned by each Lien Grantor shall be held, upon or promptly after receipt thereof, in one or more Controlled Securities Accounts; provided, that this Section 11(c)(i) shall not apply to any Security Entitlements maintained in (x) any
Securities Account to the extent that the aggregate value of the Security Entitlements held in such Securities Account does not exceed $5,000,000; and provided further that the aggregate value of all Securities Entitlements owned by all Lien
Grantors and held in all Securities Accounts (other than Securities Accounts described in clause (y) or (z) below) that are not Controlled Securities Accounts shall not at any time be in excess of $10,000,000, (y) any Securities
Account that satisfies the applicable conditions set forth in clauses (E), (F) and (G) of the proviso at the end of Section 3(a) or (z) any Securities Account consisting solely of Security Entitlements collected and held by such
Lien Grantor on behalf and for the benefit of Insurance Subsidiaries. The provisions of this subsection are subject to Section 14(c). 
 (ii) Each Lien Grantor agrees that it will provide the Agent with prompt written notice (and in any case within 20 days) of the opening of any new Securities Accounts and any such notice shall be deemed
to be an automatic amendment to Schedule 3 hereto to include such account. 
 (iii) Each Lien Grantor
represents, warrants and covenants that (x) Schedule 6 lists, as of the Effective Date, all Controlled Securities Accounts, (y) each Controlled Securities Account will be operated as provided in Section 13, and (z) except
to the extent not required by clause (i) above, it will provide the Agent with prompt written notice that any Account meets the requirements of a Controlled Securities Account, any such notice shall be deemed an automatic amendment to
Schedule 6 hereto to include such Account, and such Lien Grantor shall enter into an Account Control Agreement with respect to such Account within 30 days of such Account meeting such requirements (unless the Agent, in its discretion, shall
have agreed in writing to a longer period). 
 (d) Commodity Accounts. 

(i) All Commodity Contracts owned by each Lien Grantor shall be held, upon or promptly after receipt thereof, in one or
more Controlled Commodity Accounts; provided, that 

  
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this Section 11(d)(i) shall not apply to any Commodity Contracts maintained in (x) any Commodities Account to the extent that the aggregate value of the Commodity Contracts held in such
Commodities Account, does not exceed $5,000,000; and provided further that the aggregate value of all Commodity Contracts held by all Lien Grantors in all Commodity Accounts (other than Commodity Accounts that are trust accounts) that are not
Controlled Commodity Accounts shall not at any time be in excess of $10,000,000 and (y) any Commodities Account that is a trust account, so long as such Commodities Account is maintained as a trust account. 

(ii) Each Lien Grantor agrees that it will provide the Agent with prompt written notice (and in any case within 10 days)
of the opening of any new Commodity Accounts and any such notice shall be deemed to be an automatic amendment to Schedule 3 hereto to include such account. 

(iii) Each Lien Grantor represents, warrants and covenants that (x) Schedule 6 lists, as of the Effective
Date, all Controlled Commodity Accounts, (y) each Controlled Commodity Account will be operated as provided in Section 13, and (z) except to the extent not required by clause (i) above, it will provide the Agent with prompt
written notice that any Account meets the requirements of a Controlled Commodity Account, any such notice shall be deemed an automatic amendment to Schedule 6 hereto to include such Account, and such Lien Grantor shall enter into an Account
Control Agreement with respect to such Account within 30 days of such Account meeting such requirements (unless the Agent, in its discretion, shall have agreed in writing to a longer period). 

(e) Regulated Subsidiaries. If the Collateral includes any capital stock of a Regulated Subsidiary that is not
represented by certificates, the relevant Lien Grantor shall exercise its commercially reasonable efforts to cause such capital stock to be represented by certificates and, promptly upon receipt thereof, comply with Section 11(a) with respect
thereto. No Lien Grantor shall hold any capital stock of a Regulated Subsidiary in a Securities Account. 
 (f)
Perfection as to Certificated Securities. When such Lien Grantor delivers the certificate representing any Pledged Certificated Security owned by it to the Agent and complies with Section 11(k) in connection with such delivery,
(i) the Transaction Lien on such Pledged Certificated Security will be perfected, subject to no prior Liens or rights of others, (ii) the Agent will have Control of such Pledged Certificated Security and (iii) the Agent will be a
protected purchaser (within the meaning of UCC Section 8-303) thereof. 
 (g) Perfection as to
Uncertificated Securities. When such Lien Grantor, the Agent and the issuer of any Pledged Uncertificated Security owned by such Lien Grantor enter into an Issuer Control Agreement with respect thereto, (i) the Transaction Lien on such
Pledged Uncertificated Security will be perfected, subject to no prior Liens or rights of others (except Permitted Priority Liens), (ii) the Agent will have Control of such Pledged Uncertificated Security and (iii) the Agent will be a
protected purchaser (within the meaning of UCC Section 8-303) thereof. 
 (h) Perfection as to Security
Entitlements. So long as the Financial Asset underlying any Security Entitlement owned by such Lien Grantor is credited to a Controlled Securities Account, (i) the Transaction Lien on such Security Entitlement will be perfected, subject to
no prior Liens or rights of others (except (x) Liens and rights of the relevant Securities Intermediary that are Permitted Liens and (y) Permitted Priority Liens), (ii) the Agent will have Control of such Security Entitlement and
(iii) no action based on an adverse claim to such Security Entitlement or such Financial Asset, whether framed in conversion, replevin, constructive trust, equitable lien or other theory, may be asserted against the Agent or any other Secured
Party. 

  
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 (i) Perfection as to Commodity Accounts. So long as any Commodity
Account is subject to a Commodity Account Control Agreement, (i) the Transaction Liens on such Commodity Account and all Commodity Contracts carried therein will be perfected, subject to no prior Liens or rights of others (except (x) Liens
and rights of the relevant Commodity Intermediary permitted by such Commodity Account Control Agreement and (y) Permitted Priority Liens) and (ii) the Agent will have Control of such Commodity Account and all Commodity Contracts carried
therein from time to time. 
 (j) Agreement as to Applicable Jurisdiction. In respect of all Security
Entitlements owned by such Lien Grantor, and all Securities Accounts to which the related Financial Assets are credited, the Securities Intermediary’s jurisdiction (determined as provided in UCC Section 8-110(e)) will at all times be
located in the United States. In respect of all Commodity Contracts owned by such Lien Grantor and all Commodity Accounts in which such Commodity Contracts are carried, the Commodity Intermediary’s jurisdiction (determined as provided in UCC
Section 9-305(b)) will at all times be located in the United States. 
 (k) Delivery of Pledged
Certificates. All Pledged Certificates, when delivered to the Agent, will be in suitable form for transfer by delivery, or accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance reasonably
satisfactory to the Agent. 
 (l) Communications. Each Lien Grantor will promptly give to the Agent copies
of any notices and other communications received by it with respect to (i) Pledged Securities registered in the name of such Lien Grantor or its nominee and (ii) Pledged Security Entitlements as to which such Lien Grantor is the
Entitlement Holder, in each case (x) while an Event of Default has occurred and is continuing or (y) relating to any matter that could reasonably be expected to have a Material Adverse Effect. 

(m) Foreign Subsidiaries. A Lien Grantor will not be obligated to comply with the provisions of this Section at any
time with respect to any voting Equity Interest in a Foreign Subsidiary if and to the extent (but only to the extent) that such voting Equity Interest is excluded from the Transaction Liens at such time pursuant to clause (B) of the proviso at
the end of Section 3(a) and/or the comparable provisions of one or more Security Agreement Supplements. 

(n) Compliance with Applicable Foreign Laws. If and so long as the Collateral includes (i) any Equity Interest
in, or other Investment Property issued by, a Subsidiary (other than an Immaterial Subsidiary) organized under the laws of a jurisdiction outside the United States or (ii) any Security Entitlement in respect of a Financial Asset issued by such
a Subsidiary (other than an Immaterial Subsidiary), the relevant Lien Grantor will take all such action as may be required under the laws of such foreign jurisdiction to ensure that the Transaction Lien on such Collateral ranks prior to all Liens
and rights of others therein other than Permitted Liens that have priority over the Transaction Liens by operation of law. If and so long as the Collateral includes any Pledged Uncertificated Security issued by such a Subsidiary (other than an
Immaterial Subsidiary), the relevant Lien Grantor will comply with this subsection, and will not be required to comply with Section 11(b), with respect thereto. 
 Section 12. Controlled Deposit Accounts. Each Lien Grantor represents, warrants and covenants as follows: 

(a) All cash owned by each Lien Grantor shall be deposited, upon or promptly after the receipt thereof, in one or more
Controlled Deposit Accounts; provided that this Section 12(a) 

  
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shall not apply to any cash maintained in (i) any Deposit Account to the extent that the average daily balance of cash held in such Deposit Account, as determined on a monthly basis, does
not exceed $5,000,000; and provided further that the aggregate amount of cash maintained by all Lien Grantors in all Deposit Accounts (other than Deposit Accounts described in clause (ii) or (iii) below) that are not Controlled
Deposit Accounts shall not at any time be in excess of $10,000,000, (ii) any Deposit Account that satisfies the applicable conditions set forth in clauses (E), (F) and (G) of the proviso at the end of Section 3(a) or
(iii) any Deposit Account consisting solely of cash collected and held by such Lien Grantor on behalf and for the benefit of Insurance Subsidiaries. 
 (b) (i) Schedule 6 lists, as of the Effective Date, all Controlled Deposit Accounts, (ii) each Controlled Deposit Account will be operated as provided in Section 13, and (iii) except
to the extent not required by clause (a) above, it will provide the Agent with prompt written notice that any Account meets the requirements of a Controlled Deposit Account, any such notice shall be deemed an automatic amendment to Schedule
6 hereto to include such Account, and such Lien Grantor shall enter into an Account Control Agreement with respect to such Account within 30 days of such Account meeting such requirements (unless the Agent, in its discretion, shall have agreed
in writing to a longer period). 
 (c) In respect of each Controlled Deposit Account, the Depositary Bank’s
jurisdiction (determined as provided in UCC Section 9-304) will at all times be a jurisdiction in which Article 9 is in effect. 
 (d) So long as the Agent has Control of a Controlled Deposit Account, the Transaction Lien on such Controlled Deposit Account will be perfected, subject to no prior Liens or rights of others (except
(i) the Depositary Bank’s right to deduct its customary operating charges and any uncollected funds previously credited thereto and (ii) Permitted Priority Liens). 

(e) Each Lien Grantor will provide the Agent with prompt written notice (and in any case within 20 days) of the opening of
any new Deposit Account and any such notice shall be deemed to be an automatic amendment to Schedule 3 hereto. 

Section 13. Operation of Collateral Accounts. 
 (a) (i) Funds held in any Controlled Deposit Account may, until withdrawn, be invested and reinvested in such Liquid Investments as the relevant Lien Grantor may select from time to time, (ii) Funds
held in any Controlled Securities Account may, until withdrawn, be invested and reinvested in such Cash Equivalents as the relevant Lien Grantor may select from time to time, (iii) Funds held in any Controlled Commodity Account may, until
withdrawn, be invested and reinvested in such Cash Equivalents as the relevant Lien Grantor may select from time to time; provided that upon the occurrence and during the continuance of an Event of Default, the Agent shall have the sole right
to direct the disposition of funds with respect to each Collateral Account (including the withdrawal of such funds), and it shall be a term and condition of the Collateral Accounts, notwithstanding any term or condition to the contrary in any other
agreement relating to the Collateral Accounts, that upon written notice by the Agent to such account holder, the holders of such accounts will comply with instructions with respect to such accounts originated only by the Agent, without notice to,
consent from or other reference to any Lien Grantor. Upon the curing of such Event of Default, the Agent will instruct the relevant account holder that the relevant Lien Grantor may withdraw, or direct the disposition of, funds held therein unless
and until the Agent rescinds such instruction. 

  
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 (b) Upon the occurrence and during the continuation of an Event of Default, each Lien
Grantor will (i) immediately upon the written request of the Agent, instruct each Person obligated at any time to make any payment to such Lien Grantor for any reason to make such payment to a Collateral Account and (ii) deposit in the
Collateral Accounts or pay to the Agent for deposit in the Collateral Accounts, at the end of each Business Day, all proceeds of Collateral and all other cash of each Lien Grantor. 

(c) Each Lien Grantor may from time to time provide the Agent with an Account Control Agreement or a supplement (in form and substance
reasonably satisfactory to the Agent) to an existing Account Control Agreement with such then existing Depositary Bank, Commodity Intermediary or Securities Intermediary covering a new Collateral Account (and, upon the receipt by the Agent of such
Account Control Agreement or supplement, Schedule 6 shall be automatically amended to include such account). 
 (d) Each
Lien Grantor agrees that it will promptly provide the Agent with written notice of any termination (if such termination is permitted) of any Collateral Account (and, upon such notice, Schedule 6 shall be automatically amended to remove such
account). Upon any termination by any Lien Grantor of any Collateral Account, the Company will immediately transfer all funds and property held in such terminated Collateral Account to another Collateral Account. 

(e) If immediately available cash on deposit in all Collateral Accounts is not sufficient to make any distribution or withdrawal to be
made pursuant hereto following the occurrence and during the continuation of an Event of Default, the Agent may cause to be liquidated, as promptly as practicable, such investments held in or credited to one or more such Collateral Account as shall
be required to obtain sufficient cash to make such distribution or withdrawal and, notwithstanding any other provision hereof, such distribution or withdrawal shall not be made until such liquidation has taken place. 

Section 14. Transfer of Record Ownership. 
 (a) At any time when an Event of Default shall have occurred and be continuing, the Agent may (and to the extent that action by it is required, the relevant Lien Grantor, if directed to do so by the
Agent, will as promptly as practicable) cause each of the Pledged Securities (or any portion thereof specified in such direction) to be (x) transferred of record into the name of the Agent or its nominee or (y) credited to an appropriate
Collateral Account; provided that no such action shall be taken with respect to any capital stock of any Regulated Subsidiary unless any and all regulatory approvals required under applicable law shall have been obtained; and provided further
that (i) to the extent any of the Pledged Securities (or a portion thereof) have been transferred of record into the name of the Agent or its nominee and (ii) no Event of Default is continuing, the Agent will cooperate reasonably with the
relevant Lien Grantor to cause such Pledged Security (or a portion thereof) to be re-registered (as promptly as practicable) in the name of such Lien Grantor. Each Lien Grantor will take any and all actions reasonably requested by the Agent to
facilitate compliance with this subsection. 
 (b) Perfection upon Transfer of Record Ownership. If and when any Pledged
Security (whether certificated or uncertificated) owned by such Lien Grantor is transferred of record into the name of the Agent or its nominee pursuant to Section 14(a), (i) the Transaction Lien on such Pledged Security will be perfected,
subject to no prior Liens or rights of others, (ii) the Agent will have Control of such Pledged Security and (iii) the Agent will be a protected purchaser (within the meaning of UCC Section 8-303) thereof. 

(c) Provisions Inapplicable after Transfer of Record Ownership. If the provisions of Section 14(a) are implemented, Sections
11(b) and 11(c) shall not thereafter apply to (i) any Pledged Security that is registered in the name of the Agent or its nominee or (ii) any Security Entitlement in respect of which the Agent or its nominee is the Entitlement Holder.

  
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 (d) Communications after Transfer of Record Ownership. The Agent will promptly give
to the relevant Lien Grantor copies of any notices and other communications received by the Agent with respect to (i) Pledged Securities registered in the name of the Agent or its nominee and (ii) Pledged Security Entitlements as to which
the Agent or its nominee is the Entitlement Holder. 
 Section 15. Right to Vote Securities. 

(a) Unless an Event of Default shall have occurred and be continuing, each Lien Grantor will have the right, from time to time, to vote
and to give consents, ratifications and waivers with respect to any Pledged Security owned by it and the Financial Asset underlying any Pledged Security Entitlement owned by it, and the Agent will, upon receiving a written request from such Lien
Grantor, promptly deliver (or cause to be delivered) to such Lien Grantor or as specified in such request such proxies, powers of attorney, consents, ratifications and waivers in respect of any such Pledged Security that is registered in the name of
the Agent or its nominee or any such Pledged Security Entitlement as to which the Agent or its nominee is the Entitlement Holder, in each case as shall be specified in such request and be in form and substance reasonably satisfactory to the Agent.
Unless an Event of Default shall have occurred and be continuing, the Agent will have no right to take any action which the owner of a Pledged Partnership Interest or Pledged LLC Interest is entitled to take with respect thereto, except the right to
receive payments and other distributions to the extent provided herein. 
 (b) If an Event of Default shall have occurred and be
continuing, and after written notice from the Agent to such Lien Grantor, the Agent will have the right to the extent permitted by law (and, in the case of a Pledged Partnership Interest or Pledged LLC Interest, by the relevant partnership
agreement, limited liability company agreement, operating agreement or other governing document) to vote, to give consents, ratifications and waivers and to take any other action with respect to the Pledged Investment Property, the other Pledged
Equity Interests (if any) and the Financial Assets underlying the Pledged Security Entitlements, with the same force and effect as if the Agent were the absolute and sole owner thereof, and each Lien Grantor will take all such action as the Agent
may reasonably request from time to time to give effect to such right; provided that the Agent will not have the right to vote, to give consents, ratifications or waivers or to take any other action with respect to the capital stock of any
Regulated Subsidiary, in each case to the extent that such action would require prior regulatory approval under applicable law, unless such approval shall have been granted. 
 Section 16. Remedies upon Event of Default. 
 (a) If an Event of
Default shall have occurred and be continuing, the Agent may exercise (or cause its sub-agents to exercise) any or all of the remedies available to it (or to such sub-agents) under the Security Documents. 

(b) Without limiting the generality of the foregoing, if an Event of Default shall have occurred and be continuing, the Agent may
exercise on behalf of the Secured Parties all the rights of a secured party under the UCC (whether or not in effect in the jurisdiction where such rights are exercised) with respect to any Collateral and, in addition, the Agent may, without being
required to give any notice, except as herein provided or as may be required by mandatory provisions of law, withdraw all cash held in the Collateral Accounts and apply such cash as provided in Section 17 and, if there shall be no such cash or
if such cash shall be insufficient to pay all the Secured Obligations in full, sell, lease, license or otherwise dispose of the Collateral or any part thereof; provided that the right of the Agent to sell or otherwise dispose of the capital
stock of any Regulated Subsidiary shall be subject to the Agent or the relevant 

  
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Lien Grantor obtaining, to the extent necessary under applicable law, the prior approval of such sale or other disposition by the governmental body or official having jurisdiction with respect to
such Regulated Subsidiary. Notice of any such sale or other disposition shall be given to the relevant Lien Grantor(s) as required by Section 19. 
 (c) Without limiting the generality of the foregoing, if an Event of Default shall have occurred and be continuing: 
 (i) the Agent may license or sublicense, whether general, special or otherwise, and whether on an exclusive or non-exclusive basis, any Pledged Intellectual Property (including any Pledged Recordable
Intellectual Property) for such term or terms, on such conditions and in such manner as the Agent shall in its reasonable discretion determine; provided that such licenses or sublicenses do not conflict with any existing license of which the
Agent shall have received a copy; 
 (ii) the Agent may (without assuming any obligation or liability
thereunder), at any time and from time to time, in its sole and reasonable discretion, enforce (and shall have the exclusive right to enforce) against any licensee or sublicensee all rights and remedies of any Lien Grantor in, to and under any of
its Pledged Intellectual Property and take or refrain from taking any action under any thereof, and each Lien Grantor releases the Agent and each other Secured Party from liability for, and agrees to hold the Agent and each other Secured Party free
and harmless from and against any claims and expenses arising out of, any lawful action so taken or omitted to be taken with respect thereto, except for claims and expenses arising from the Agent’s or such Secured Party’s gross negligence
or willful misconduct; and 
 (iii) upon request by the Agent (which shall not be construed as implying any
limitation on its rights or powers), each Lien Grantor will execute and deliver to the Agent a power of attorney, in form and substance reasonably satisfactory to the Agent, for the implementation of any sale, lease, license or other disposition of
any of such Lien Grantor’s Pledged Intellectual Property or any action related thereto. In connection with any such disposition, but subject to any confidentiality restrictions imposed on such Lien Grantor in any license or similar agreement,
such Lien Grantor will supply to the Agent its know-how and expertise relating to the relevant Intellectual Property or the products or services made or rendered in connection with such Intellectual Property, and its customer lists and other records
relating to such Intellectual Property and to the distribution of said products or services. 
 Section 17. Application
of Proceeds. 
 (a) If an Event of Default shall have occurred and be continuing, the Agent may apply (i) any cash held
in the Collateral Accounts and (ii) the proceeds of any sale or other disposition of, or any collections (including in the form of interest, dividends, redemption payments and other distributions in respect of any Equity Interests) on, all or
any part of the Collateral, in the following order of priorities: 
 first, to pay the expenses of such
sale or other disposition or collection, including reasonable compensation to agents of and counsel for the Agent, and all expenses, liabilities and advances incurred or made by the Agent in connection with the Security Documents, and any other
amounts then due and payable to the Agent pursuant to Section 18 or pursuant to Sections 10.04 or 10.05 of the Credit Agreement; 
 second, to pay ratably all interest (including Post-Petition Interest) on the Secured Obligations; 

  
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 third, to pay the unpaid principal of the Secured Obligations
ratably, until payment in full of the principal of all Secured Obligations shall have been made; 

fourth, to pay all other Secured Obligations then due and payable ratably, until payment in full of all such other
Secured Obligations shall have been made; and 
 finally, to pay to the relevant Lien Grantor, or as a
court of competent jurisdiction may direct, any surplus then remaining from the proceeds of the Collateral owned by it; 
 provided that
Collateral owned by a Subsidiary Guarantor and any proceeds thereof shall be applied pursuant to the foregoing clauses first, second, third and fourth, only to the extent permitted by the limitation in Section 2(i). The Agent may make such
distributions hereunder in cash or in kind or, on a ratable basis, in any combination thereof. 
 (b) In making the payments and
allocations required by this Section, the Agent may rely upon information supplied to it pursuant to Section 21(g). All distributions made by the Agent pursuant to this Section shall be final (except in the event of manifest error) and the
Agent shall have no duty to inquire as to the application by any Secured Party of any amount distributed to it. 

Section 18. Fees and Expenses; Indemnification. 
 (a) The Company will within ten Business Days following written demand (together with, in the case of clauses (i) and (ii) below, if requested by the Company, backup documentation supporting
such written demand) pay to the Agent: 
 (i) the amount of any taxes that the Agent may have been required to
pay by reason of the Transaction Liens or to free any Collateral from any other Lien thereon; 
 (ii) the amount
of any and all reasonable out-of-pocket expenses, including transfer taxes and reasonable fees and expenses of counsel and other outside experts, that the Agent may incur in connection with (x) the administration or enforcement of the Security
Documents, including such expenses as are incurred to preserve the value of the Collateral or the validity, perfection, rank or value of any Transaction Lien, (y) the collection, sale or other disposition of any Collateral or (z) the
exercise by the Agent of any of its rights or powers under the Security Documents; and 
 (iii) the amount of any
fees that the Company shall have agreed in writing to pay to the Agent and that shall have become due and payable in accordance with such written agreement. 
 (b) If any transfer tax, documentary stamp tax or other tax is payable in connection with any transfer or other transaction provided for in the Security Documents, the Company will pay such tax and
provide any required tax stamps to the Agent or as otherwise required by law. 
 (c) Each Lien Grantor waives all rights for
contribution and all other rights of recovery with respect to liabilities, losses, damages, costs and expenses arising under or related to Environmental Laws that it might have by statute or otherwise against any Indemnified Person. 

Section 19. Authority to Administer Collateral. Each Lien Grantor irrevocably appoints the Agent its true and lawful
attorney, with full power of substitution, in the name of such Lien Grantor, any Secured Party or otherwise, for the sole use and benefit of the Secured Parties, but at the Company’s expense,

  
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to the extent permitted by law to exercise, at any time and from time to time while an Event of Default shall have occurred and be continuing, all or any of the following powers with respect to
all or any of such Lien Grantor’s Collateral: 
 (a) to demand, sue for, collect, receive and give
acquittance for any and all monies due or to become due upon or by virtue thereof, 
 (b) to settle, compromise,
compound, prosecute or defend any action or proceeding with respect thereto, 
 (c) to sell, lease, license or
otherwise dispose of the same or the proceeds or avails thereof, as fully and effectually as if the Agent were the absolute owner thereof, and 
 (d) to extend the time of payment of any or all thereof and to make any allowance or other adjustment with reference thereto; 
 provided that, except in the case of Collateral that is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Agent will give the
relevant Lien Grantor at least ten days’ prior written notice of the time and place of any public sale thereof or the time after which any private sale or other intended disposition thereof will be made. Any such notice shall (i) contain
the information specified in UCC Section 9-613, (ii) be Authenticated and (iii) be sent to the parties required to be notified pursuant to UCC Section 9-611(c); provided that, if the Agent fails to comply with this
sentence in any respect, its liability for such failure shall be limited to the liability (if any) imposed on it as a matter of law under the UCC. 
 Section 20. Limitation on Duty in Respect of Collateral. Beyond the exercise of reasonable care in the custody and preservation thereof and accounting for monies received therefrom, the Agent
will have no duty as to any Collateral in its possession or control or in the possession or control of any sub-agent or bailee or any income therefrom or as to the preservation of rights against prior parties or any other rights pertaining thereto.
The Agent will be deemed to have exercised reasonable care in the custody and preservation of the Collateral in its possession or control if such Collateral is accorded treatment substantially equal to that which it accords its own property, and
will not be liable or responsible for any loss or damage to any Collateral, or for any diminution in the value thereof, by reason of any act or omission of any sub-agent or bailee selected by the Agent in good faith, except to the extent that such
liability arises from the Agent’s gross negligence or willful misconduct. 
 Section 21. General Provisions
Concerning the Agent. 
 (a) Appointment and Authorization; “Agent.” The Agent is hereby irrevocably
appointed, designated and authorized to take such actions under the provisions of this Agreement and each other Security Document and to exercise such powers and perform such duties as are expressly delegated to it by the terms of this Agreement or
any other Security Document, together with such actions and powers as are reasonably incidental thereto. In furtherance of the foregoing, the Agent is hereby authorized to serve as Applicable Authorized Representative and Applicable Collateral Agent
(each as defined in the Intercreditor Agreement) in accordance with the terms of the Intercreditor Agreement and to exercise such powers and perform such duties as are expressly delegated to it by the terms of the Intercreditor Agreement, together
with such actions and powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary contained elsewhere herein or in any other Security Document, the Agent shall not have any duties or responsibilities, except those
expressly set forth herein, nor shall the Agent have or be deemed to have any fiduciary relationship with any Secured Party, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement
or any other Security 

  
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Document or otherwise exist against the Agent. Without limiting the generality of the foregoing sentence, the use of the term “agent” herein and in the other Security Documents with
reference to the Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law. Instead, such term is used merely as a matter of market custom, and is intended to create
or reflect only an administrative relationship between independent contracting parties. 
 (b) Delegation of Duties. The
Agent may execute any of its duties under this Agreement or any other Security Document by or through agents, employees or attorneys-in-fact and shall be entitled to advice of counsel and other consultants or experts concerning all matters
pertaining to such duties. The Agent shall not be responsible for the negligence or misconduct of any agent or attorney-in-fact that it selects in the absence of gross negligence or willful misconduct. The exculpatory provisions of Section 20
and this Section shall apply to any such agent, employee or attorney-in-fact. 
 (c) Liability of Agent. No Agent-Related
Person shall (i) be liable for any action taken or omitted to be taken by any of them under or in connection with this Agreement or any other Security Document or the transactions contemplated hereby (except for its own gross negligence or
willful misconduct in connection with its duties expressly set forth herein or required by applicable law) or (ii) be responsible in any manner to any Secured Party for any recital, statement, representation or warranty made by the Company or
any Subsidiary or Affiliate thereof, or any officer thereof, contained herein or in any other Security Document, or in any certificate, report, statement or other document referred to or provided for in, or received by the Agent under or in
connection with, this Agreement or any other Security Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Security Document, or for any failure of the Company or any Subsidiary or
Affiliate thereof or any other party to any Security Document to perform its obligations hereunder or thereunder. No Agent-Related Person shall be under any obligation to any Secured Party to ascertain or to inquire as to the observance or
performance of any of the agreements contained in, or conditions of, this Agreement or any other Security Document, or to inspect the properties, books or records of the Company or any Subsidiary or Affiliate thereof. The Agent shall not be
responsible for the existence, genuineness or value of any Collateral or for the validity, perfection, priority or enforceability of any Transaction Lien, whether impaired by operation of law or by reason of any action or omission to act on its part
under the Security Documents. 
 (d) Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected
in relying, upon any writing, communication, signature, resolution, representation, notice, consent, certificate, affidavit, letter, telegram, facsimile, telex or telephone message, electronic mail message, statement or other document or
conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons, and upon advice and statements of legal counsel (including counsel to the Company or any Subsidiary), independent
accountants and other experts selected by the Agent. The Agent shall be fully justified in failing or refusing to take any action under any Security Document unless it shall first receive such advice or concurrence of the Required Lenders as it
deems appropriate and, if it so requests, it shall first be indemnified to its satisfaction by the Secured Parties against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action. The
Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Security Document in accordance with a request or consent of the Required Lenders (or such other number of Lenders as may be
expressly required hereby or by the Credit Agreement in any instance) and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Secured Parties. 

(e) Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default, except with
respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Lenders, unless the Agent shall have received written 

  
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notice from a Secured Party or the Company referring to the Credit Agreement, describing such Default and stating that such notice is a “notice of default.” The Agent will notify the
Secured Parties of its receipt of any such notice. The Agent shall take such action with respect to such Default as may be directed by the Required Lenders in accordance with Article 8 of the Credit Agreement; provided, however, that
unless and until the Agent has received any such direction, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default as it shall deem advisable or in the best interest of the
Secured Parties. 
 (f) Agent in Individual Capacity. MSSF and its Affiliates may make loans to, issue letters of credit
for the account of, accept deposits from, acquire equity interests in and generally engage in any kind of banking, trust, financial advisory, underwriting or other business with the Company or any of its Subsidiaries and their respective Affiliates
as though MSSF were not the Agent hereunder and without notice to or consent of the Secured Parties. The Secured Parties acknowledge that, pursuant to such activities, MSSF or its Affiliates may receive information regarding the Company or its
Subsidiaries or Affiliates (including information that may be subject to confidentiality obligations in favor of the Company, such Subsidiary or such Affiliate) and acknowledge that the Agent shall be under no obligation to provide such information
to them. With respect to its Term Loans, MSSF shall have the same rights and powers under this Agreement as any other Secured Party and may exercise such rights and powers as though it were not the Agent, and the terms “Secured Party” and
“Secured Parties” include MSSF in its individual capacity. 
 (g) Information as to Secured Obligations and Actions
by Secured Parties. For all purposes of the Security Documents, including determining the amounts of the Secured Obligations or whether any action has been taken under any Secured Agreement, the Agent will be entitled to rely on information from
(i) its own records for information as to the Lenders, their Secured Obligations and actions taken by them; (ii) any Secured Party for information as to its Secured Obligations and actions taken by it, to the extent that the Agent has not
obtained such information from the foregoing sources; and (iii) the Company, to the extent that the Agent has not obtained information from the foregoing sources. 
 (h) Within two Business Days after it receives or sends any notice referred to in this subsection, the Agent shall send to each Secured Party Requesting Notice, copies of any notice given by the Agent to
any Lien Grantor, or received by it from any Lien Grantor, pursuant to Section 16, 17, 19 or 22. 
 (i) The Agent may
refuse to act on any notice, consent, direction or instruction from any Secured Parties or any agent, trustee or similar representative thereof that, in the Agent’s opinion, (i) is contrary to law or the provisions of any Security
Document, (ii) may expose the Agent to liability (unless the Agent shall have been indemnified, to its reasonable satisfaction, for such liability by the Secured Parties that gave such notice, consent, direction or instruction) or (iii) is
unduly prejudicial to Secured Parties not joining in such notice, consent, direction or instruction. 
 Section 22.
Termination of Transaction Liens; Release of Collateral. 
 (a) The Transaction Liens granted by each Subsidiary
Guarantor shall terminate when its Secured Guarantee is released pursuant to Section 2(c). 
 (b) The Transaction Liens
granted by the Company shall terminate when all the Release Conditions are satisfied in full. 
 (c) Concurrently with any sale,
lease or other disposition (except a sale or disposition to another Lien Grantor or a lease) permitted by the proviso to Section 5(d) or release of any Transaction Lien in accordance with Section 9.10(a) of the Credit Agreement, the
Transaction Liens on the assets sold or disposed of (but not in any Proceeds arising from such sale or disposition) or so released will cease immediately without any action by the Agent or any other Secured Party. 

  
 -31-

 (d) Upon any termination of a Transaction Lien or release of Collateral, the Agent will, at
the expense of the relevant Lien Grantor, execute and deliver to such Lien Grantor such documents as such Lien Grantor shall reasonably request to evidence the termination of such Transaction Lien or the release of such Collateral, as the case may
be; provided that if the Agent does not file a UCC termination statement within 20 days after the Agent receives an authenticated demand for such termination from the relevant Lien Grantor, then such Lien Grantor may file such UCC termination
statement in accordance with Section 9-509(d)(2) of the UCC. 
 Section 23. Additional Subsidiary Guarantors and
Lien Grantors. Any Subsidiary may become a party hereto by signing and delivering to the Agent a Security Agreement Supplement, whereupon such Subsidiary shall become a “Subsidiary Guarantor” and a “Lien Grantor” as defined
herein. 
 Section 24. Notices. 
 (a) Unless otherwise expressly provided herein, all notices and other communications provided for hereunder shall be in writing (including by facsimile transmission). All such written notices shall be
mailed, faxed or delivered to the applicable address, facsimile number (provided that any matter transmitted by the Company by facsimile (1) shall be immediately confirmed by a telephone call to the recipient at the number specified
below and (2) shall be followed promptly by delivery of a hard copy original thereof) or (subject to subsection (c) below) electronic mail address, and all notices and other communications expressly permitted hereunder to be given by
telephone shall be made to the applicable telephone number, as follows: 
 (i) if to the Company or the Agent, to
the address, facsimile number, electronic mail address or telephone number specified for such Person on Schedule 10.02 of the Credit Agreement or to such other address, facsimile number, electronic mail address or telephone number as shall be
designated by such party in a notice to the other parties; 
 (ii) if to any Lender, to the Agent to be forwarded
to such Lender at its address, facsimile number, electronic mail address or telephone number specified in its administrative questionnaire or to such other address, facsimile number, electronic mail address or telephone number as shall be designated
by such party in a notice to the Company and the Agent; 
 (iii) if to any Subsidiary Guarantor listed on the
signature pages hereof, to the Company as set forth above to be forwarded to such Subsidiary Guarantor at its address, facsimile number, electronic mail address or telephone number designated by such party in a notice to the Company; 

(iv) if to any other Subsidiary Guarantor, to the address, facsimile number, electronic mail address or telephone number
specified for such Person in its first Security Agreement Supplement or to such other address, facsimile number, electronic mail address or telephone number as shall be designated by such party in a notice to the other parties; and 

(v) if to any Secured Party Requesting Notice, to such address, facsimile number, electronic mail address or telephone
number as such party may hereafter specify for the purpose by notice to the Agent. 

  
 -32-

 All such notices and other communications shall be deemed to be given or made upon the
earlier to occur of (i) actual receipt by the relevant party hereto and (ii) (A) if delivered by hand or by courier, when signed for by or on behalf of the relevant party hereto; (B) if delivered by mail, four Business Days after
deposit in the mails, postage prepaid; (C) if delivered by facsimile, when sent and receipt has been confirmed by telephone; and (D) if delivered by electronic mail (which form of delivery is subject to the provisions of subsection
(c) below), when delivered. In no event shall a voicemail message be effective as a notice, communication or confirmation hereunder. 
 (b) This Agreement and the other Security Documents may be transmitted and/or signed by facsimile or Adobe PDF delivered by electronic mail. The effectiveness of any such documents and signatures shall,
subject to applicable law, have the same force and effect as manually-signed originals and shall be binding on the Company, all Subsidiary Guarantors, the Secured Parties and the Agent. The Agent may also require that any such documents and
signatures be confirmed by a manually-signed original thereof; provided, that the failure to request or deliver the same shall not limit the effectiveness of any facsimile document or signature. 

(c) Electronic mail and Internet and intranet websites may be used only to distribute routine communications and to distribute this
Agreement and other Security Documents for execution by the parties thereto, and may not be used for any other purpose. 
 (d)
The Agent and the Lenders shall be entitled to rely and act upon any notices purportedly given by or on behalf of the Company or any Subsidiary Guarantor even if (i) such notices were not made in a manner specified herein, were incomplete or
were not preceded or followed by any other form of notice specified herein or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Company and the Subsidiary Guarantors shall jointly and severally
indemnify each Agent-Related Person and each Secured Party and each Related Party thereto from all losses, costs, out-of-pocket expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of
the Company or any Subsidiary Guarantor; provided that such indemnity shall not, as to any Person, be available to the extent that such losses, costs, out-of-pocket expenses or liabilities are determined by a court of competent jurisdiction
by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Person. All telephonic notices to and other communications with the Agent may be recorded by the Agent, and each of the parties hereto
hereby consents to such recording. 
 Section 25. No Implied Waivers; Remedies Not Exclusive. No failure by the
Agent or any Secured Party to exercise, and no delay in exercising and no course of dealing with respect to, any right or remedy under any Security Document shall operate as a waiver thereof; nor shall any single or partial exercise by the Agent or
any Secured Party of any right or remedy under any Loan Document preclude any other or further exercise thereof or the exercise of any other right or remedy. The rights and remedies specified in the Loan Documents are cumulative and are not
exclusive of any other rights or remedies provided by law. 
 Section 26. Successors and Assigns. This Agreement is
for the benefit of the Agent and the Secured Parties. If all or any part of any Secured Party’s interest in any Secured Obligation is assigned or otherwise transferred, the transferor’s rights hereunder, to the extent applicable to the
obligation so transferred, shall be automatically transferred with such obligation. This Agreement shall be binding on the Lien Grantors and their respective successors and assigns. 

Section 27. Amendments and Waivers. Neither this Agreement nor any provision hereof may be waived, amended, modified or
terminated except pursuant to an agreement or agreements in writing entered into by the parties hereto, with the consent of such Lenders as are required to consent thereto under Section 10.01 of the Credit Agreement. 

  
 -33-

 Section 28. Choice of Law. This Agreement shall be construed in accordance with
and governed by the laws of the State of New York. 
 Section 29. Waiver of Jury Trial. EACH PARTY TO THIS AGREEMENT
HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER ANY SECURITY DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH
RESPECT TO ANY SECURITY DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM,
DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES
HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT AND THE OTHER SECURITY DOCUMENTS. 

Section 30. Severability. If any provision of any Security Document is invalid or unenforceable in any jurisdiction, then, to
the fullest extent permitted by law, (i) the other provisions of the Security Documents shall remain in full force and effect in such jurisdiction and shall be liberally construed in favor of the Agent and the Secured Parties in order to carry
out the intentions of the parties thereto as nearly as may be possible and (ii) the invalidity or unenforceability of such provision in such jurisdiction shall not affect the validity or enforceability thereof in any other jurisdiction.

 Section 31. Intercreditor Agreement. Notwithstanding anything herein to the contrary, the Liens and security
interests granted to the Agent pursuant to this Agreement, the exercise of any right or remedy by the Agent hereunder and the obligations of the Lien Grantors hereunder, in each case, with respect to the Collateral are subject to the limitations and
provisions of the Intercreditor Agreement. In the event of any conflict between the terms of the Intercreditor Agreement and the terms of this Agreement with respect to the Collateral, the terms of the Intercreditor Agreement shall govern and
control. For the avoidance of doubt, at any time that the Agent is not the Applicable Collateral Agent (as defined in the Intercreditor Agreement), the Lien Grantors shall be deemed to have complied with any obligation hereunder to deliver any
possessory collateral (or other Collateral that can be held by only one person) to the Agent by delivering such possessory collateral to the Applicable Collateral Agent (as defined in the Intercreditor Agreement). 

  
 -34-

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by
their respective authorized officers as of the day and year first above written. 
  

			
	CNO FINANCIAL GROUP, INC.
		
	By:	 	 /s/ Scott L. Galovic

		 	Name: Scott L. Galovic
		 	Title: Vice President and Treasurer
	
	MORGAN STANLEY SENIOR FUNDING, INC., as Agent
		
	By:	 	 /s/ Eric Jenkins

		 	Name: Eric Jenkins
		 	Title: Authorized Signatory
	
	Subsidiary Guarantors:
	
	 AMERICAN LIFE AND CASUALTY MARKETING DIVISION CO.

	CDOC, INC.
	CNO MANAGEMENT SERVICES COMPANY
		
	By:	 	 /s/ Scott L. Galovic

		 	Name: Scott L. Galovic
		 	Title: Vice President and Treasurer
	
	40|86 ADVISORS, INC.
	40|86 MORTGAGE CAPITAL, INC.
		
	By:	 	 /s/ Scott L. Galovic

		 	Name: Scott L. Galovic
		 	Title: Vice President and Treasurer

  

			
	PERFORMANCE MATTERS ASSOCIATES, INC.
	 PERFORMANCE MATTERS ASSOCIATES OF TEXAS, INC.

		
	 By:
	 	 /s/ Scott L. Galovic

		 	 Name: Scott L. Galovic

		 	 Title: Vice President and Treasurer

	
	 CNO SERVICES, LLC

		
	 By:
	 	CNO Management Services Company,
		 	its Manager
		
	 By:
	 	 /s/ Scott L. Galovic

		 	 Name: Scott L. Galovic

		 	 Title: Vice President and Treasurer

 EXHIBIT A 
 to Security Agreement 
 SECURITY AGREEMENT SUPPLEMENT 

SECURITY AGREEMENT SUPPLEMENT dated as of             ,
             between [NAME OF LIEN GRANTOR] (the “Lien Grantor”) and Morgan Stanley Senior Funding, Inc., as Agent. 

WHEREAS, CNO Financial Group, Inc., the Subsidiary Guarantors party thereto and Morgan Stanley Senior Funding, Inc, as Agent, are parties
to a Guarantee and Security Agreement dated as of December 21, 2010 (as amended, supplemented or otherwise modified from time to time, the “Security Agreement”) under which CNO Financial Group, Inc. secures certain of its
obligations (the “Secured Obligations”) and the Subsidiary Guarantors guarantee the Secured Obligations and secure their respective guarantees thereof; 

WHEREAS, [name of Lien Grantor] desires to become [is] a party to the Security Agreement as a Subsidiary Guarantor
and Lien Grantor thereunder1; and 

WHEREAS, terms defined in the Security Agreement (or whose definitions are incorporated by reference in Section 1 of the Security
Agreement) and not otherwise defined herein have, as used herein, the respective meanings provided for therein; 
 NOW,
THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1. Secured Guarantee.2 The Lien Grantor unconditionally guarantees the full and punctual payment of each Secured Obligation when due (whether
at stated maturity, upon acceleration or otherwise). The Lien Grantor acknowledges that, by signing this Security Agreement Supplement and delivering it to the Agent, the Lien Grantor becomes a “Subsidiary Guarantor” and “Lien
Grantor” for all purposes of the Security Agreement and that its obligations under the foregoing Secured Guarantee are subject to all the provisions of the Security Agreement (including those set forth in Section 2 thereof) applicable to
the obligations of a Subsidiary Guarantor thereunder. 
 2. Grant of Transaction Liens. (a) In
order to secure [its Secured Guarantee]3 [the Secured
Obligations]4, the Lien Grantor grants to the Agent for
the benefit of the Secured Parties a continuing security interest in all the following property of the Lien Grantor, whether now or owned or existing or hereafter acquired or arising and regardless of where located (the “New
Collateral”): 
 [describe property being added to the Collateral]5 

 

	1	 If the Lien Grantor is the Company, delete this recital and Section 1 hereof. 

	2	 Delete this Section if the Lien Grantor is the Company or a Subsidiary Guarantor that is already a party to the Security Agreement.

	3	 Delete bracketed words if the Lien Grantor is the Company. 

	4	 Delete bracketed words if the Lien Grantor is a Subsidiary Guarantor. 

	5	 If the Lien Grantor is not already a party to the Security Agreement, clauses (i) through (xv) of, and the proviso to, Section 3(a) of
the Security Agreement may be appropriate. 

 (b) With respect to each right to payment or performance included in the
Collateral from time to time, the Transaction Lien granted therein includes a continuing security interest in (i) any Supporting Obligation that supports such payment or performance and (ii) any Lien that (x) secures such right to
payment or performance or (y) secures any such Supporting Obligation. 
 (c) The foregoing Transaction Liens
are granted as security only and shall not subject the Agent or any other Secured Party to, or transfer or in any way affect or modify, any obligation or liability of the Lien Grantor with respect to any of the New Collateral or any transaction in
connection therewith. 
 3. Delivery of Collateral. Concurrently with delivering this Security Agreement Supplement to
the Agent, the Lien Grantor is complying with the provisions of Section 7 of the Security Agreement with respect to Chattel Paper and Instruments, Section 10 of the Security Agreement with respect to rights to the proceeds of letters of
credit, and either Section 11 or Section 14(a) (whichever is applicable) of the Security Agreement with respect to Investment Property, in each case if and, to the extent included in the New Collateral at such time. 

4. Party to Security Agreement. Upon delivering this Security Agreement Supplement to the Agent, the Lien
Grantor will become a party to the Security Agreement and will thereafter have all the rights and obligations of a Subsidiary Guarantor and a Lien Grantor thereunder and be bound by all the provisions thereof as fully as if the Lien Grantor were one
of the original parties thereto.6 
 5. Address of Lien Grantor. The address, facsimile number, electronic mail address and telephone number of the Lien Grantor for purposes of Section 29 of the Security Agreement are:

 [address, facsimile number, electronic mail address and telephone number of Lien Grantor] 

6. Representations and Warranties.7 (a) The Lien Grantor is a corporation duly organized, validly existing and in good standing under the laws of [jurisdiction of organization]. 

(b) The Lien Grantor has delivered a Perfection Certificate to the Agent. The information set forth therein is correct and
complete as of the date hereof. Within 60 days after the date hereof, the Lien Grantor will furnish (or cause to be furnished) to the Agent a file search report from each UCC filing office listed in such Perfection Certificate, showing the filing
made at such filing office to perfect the Transaction Liens on the New Collateral. 
 (c) The execution and
delivery of this Security Agreement Supplement by the Lien Grantor and the performance by it of its obligations under the Security Agreement as supplemented 

 

	6	Delete Sections 4 and 5 if the Lien Grantor is already a party to the Security Agreement. 

	7	Modify as needed if the Lien Grantor is not a corporation. 

  
 A-2

 
hereby are within its corporate or other powers, have been duly authorized by all necessary corporate or other action, require no action by or in respect of, or filing with, any governmental
body, agency or official (except (i) such as have been obtained on or prior to the date hereof and (ii) filings necessary to perfect the Transactions Liens) and do not contravene, or constitute a default under, any provision of applicable
law or regulation (except to the extent that such contraventions or defaults, in the aggregate, could not reasonably be expected to have a Material Adverse Effect) or of its Organization Documents, or of any material agreement, judgment, injunction,
order, decree or other instrument binding upon it or result in the creation or imposition of any Lien (except a Transaction Lien) on any of its assets. 
 (d) The Security Agreement as supplemented hereby constitutes a valid and binding agreement of the Lien Grantor, enforceable in accordance with its terms, except as limited by (i) applicable
bankruptcy, insolvency, fraudulent conveyance or other similar laws affecting creditors’ rights generally and (ii) general principles of equity. 
 (e) Each of the representations and warranties set forth in the Security Agreement is true as applied to the Lien Grantor and the New Collateral. For purposes of the foregoing sentence, references in said
Sections to a “Lien Grantor” shall be deemed to refer to the Lien Grantor, references to Schedules to the Security Agreement shall be deemed to refer to the corresponding Schedules to this Security Agreement Supplement, references to
“Collateral” shall be deemed to refer to the New Collateral, and references to the “Effective Date” shall be deemed to refer to the date on which the Lien Grantor signs and delivers this Security Agreement Supplement. 

7. Governing Law. This Security Agreement Supplement shall be construed in accordance with and governed by the laws of the State
of New York. 

  
 A-3

 IN WITNESS WHEREOF, the parties hereto have caused this Security Agreement Supplement to be
duly executed by their respective authorized officers as of the day and year first above written. 
  

			
	 [NAME OF LIEN GRANTOR]

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	MORGAN STANLEY SENIOR FUNDING, INC., as Agent
		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 A-4

 Schedule 1 
 to Security Agreement 
 Supplement 

EQUITY INTERESTS IN SUBSIDIARIES AND AFFILIATES 
 OWNED BY LIEN GRANTOR 
  

									
	 Current Legal

Entities Owned
	  	 Record Owner
	  	 Certificate No.
	  	 No. Shares/Interest
	  	 Percent Pledged

		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  
 A-5

 Schedule 2 
 to Security Agreement 
 Supplement 

OTHER SECURITIES 
 (OTHER THAN EQUITY INTERESTS IN SUBSIDIARIES AND AFFILIATES) 
  

									
	 Current Legal

Entities Owned
	  	 Record Owner
	  	 Certificate No.
	  	 No. Shares/Interest
	  	 Percent Pledged

		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  
 A-6

 Schedule 3 
 to Security Agreement 
 Supplement 

DEPOSIT ACCOUNTS, SECURITIES ACCOUNTS AND COMMODITIES ACCOUNTS 

PART 1 — Securities Accounts 
 The Lien Grantor owns Security Entitlements with respect to Financial Assets credited to the following Securities Accounts: 

 

																			
	 Owner
	  	 Type Of Account
	  	Intermediary	 	  	Account Numbers	 	  	Subject to
control
agreement?
[Yes/No]	 	  	Reason for
Exclusion
from
Control
Requirement	 
		  		  				  				  				  			

 PART 2 — Commodity Accounts 
 The Lien Grantor is the Commodity Customer with respect to the following Commodity Accounts: 
  

																			
	 Owner
	  	 Type Of Account
	  	Intermediary	 	  	Account Numbers	 	  	Subject to
control
agreement?
[Yes/No]	 	  	Reason for
Exclusion
from
Control
Requirement	 
		  		  				  				  				  			

 PART 3 — Deposit Accounts 
 The Lien Grantor is the Customer with respect to the following Deposit Accounts: 
  

																			
	 Owner
	  	 Type Of Account
	  	Bank	 	  	Account Numbers	 	  	Subject to
control
agreement?
[Yes/No]	 	  	Reason for
Exclusion
from
Control
Requirement	 
		  		  				  				  				  			

  
 A-7

 Schedule 4 
 to Security Agreement 
 Supplement 

COMMERCIAL TORT CLAIMS 
  

					
	 Description
	  	Pledged
[Yes/No]	 
		  			
		  			
		  			

  
 A-8

 Schedule 5 
 to Security Agreement 
 Supplement 

PLEDGED INSTRUMENTS 
  

	1.	Promissory Notes: 

  

											
	 Entity
	  	 Principal

Amount
	  	 Date of

Issuance
	  	 Interest Rate
	  	 Maturity Date
	  	 Pledged

[Yes/No]

		  		  		  		  		  	
		  		  		  		  		  	
		  		  		  		  		  	

  

	2.	Chattel Paper: 

  

					
	 Description
	  	Pledged
[Yes/No]	 
		  			
		  			
		  			

  
 A-9

 Schedule 6 
 to Security Agreement 
 Supplement 

CONTROLLED ACCOUNTS 
 PART 1 — Securities Accounts 
  

													
	 Owner
	  	 Type Of Account
	 	  	 Intermediary
	 	  	 Account Numbers
	 
		  				  				  			

 PART 2 — Commodity Accounts 

 

													
	 Owner
	  	 Type Of Account
	 	  	 Intermediary
	 	  	 Account Numbers
	 
		  				  				  			

 PART 3 — Deposit Accounts 

 

													
	 Owner
	  	 Type Of Account
	 	  	 Bank
	 	  	 Account Numbers
	 
		  				  				  			

  
 A-10

 EXHIBIT B 
 to Security Agreement 
 COPYRIGHT SECURITY AGREEMENT 

(Copyrights, Copyright Registrations, Copyright 
 Applications and Copyright Licenses) 
 WHEREAS, [name
of Lien Grantor], a                      corporation8 (herein referred to as the “Lien Grantor”) owns, or in the case of licenses is a party to, the
Copyright Collateral (as defined below); 
 WHEREAS, CNO Financial Group, Inc. (the “Company”), the Lenders
party thereto, and Morgan Stanley Senior Funding, Inc., as Agent, are parties to a Credit Agreement dated as of December 21, 2010 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”); and

 WHEREAS, pursuant to (i) a Guarantee and Security Agreement dated as of December 21, 2010 (as
amended, supplemented or otherwise modified from time to time, the “Security Agreement”) among the Company, the Subsidiary Guarantors party thereto and Morgan Stanley Senior Funding, Inc., as Agent for the Secured Parties referred
to therein (in such capacity, together with its successors and assigns in such capacity, the “Grantee”), and (ii) certain other Security Documents (including this Copyright Security Agreement), the Lien Grantor has [secured
certain of its obligations (the “Secured Obligations”)]9 [guaranteed certain obligations of the Company and secured such guarantee (the “Lien Grantor’s Secured Guarantee of the Secured Obligations”)]10 by granting to the Grantee for the benefit of such Secured Parties a
continuing security interest in personal property of the Lien Grantor, including all right, title and interest of the Lien Grantor in, to and under the Copyright Collateral (as defined below); 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Lien Grantor
grants to the Grantee, to secure the [Secured Obligations] [Lien Grantor’s Secured Guarantee of the Secured Obligations], a continuing security interest in all of the Lien Grantor’s right, title and interest in, to and under the following
(all of the following items or types of property being herein collectively referred to as the “Copyright Collateral”), whether now owned or existing or hereafter acquired or arising: 

(i) each Copyright (as defined in the Security Agreement) owned by the Lien Grantor, including, without limitation, each
Copyright registration or application therefor referred to in Schedule 1 hereto; 
  

	8	 Modify as needed if the Lien Grantor is not a corporation. 

	9	 Delete these bracketed words if the Lien Grantor is a Subsidiary Guarantor. 

	10	 Delete these bracketed words if the Lien Grantor is the Company. 

 (ii) each Copyright License (as defined in the Security Agreement) to which
the Lien Grantor is a party, including, without limitation, each Copyright License identified in Schedule 1 hereto; and 
 (iii) all proceeds of, revenues from, and accounts and general intangibles arising out of, the foregoing, including, without limitation, all proceeds of and revenues from any claim by the Lien Grantor
against third parties for past, present or future infringement of any Copyright (including, without limitation, any Copyright owned by the Lien Grantor and identified in Schedule 1), and. all rights and benefits of the Lien Grantor under any
Copyright License (including, without limitation, any Copyright License identified in Schedule 1). 
 The Lien Grantor
irrevocably constitutes and appoints the Grantee and any officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact with full power and authority in the name of the Lien Grantor or in the Grantee’s name,
from time to time, in the Grantee’s reasonable discretion, so long as any Event of Default shall have occurred and be continuing, to take with respect to the Copyright Collateral, in accordance with the Security Agreement, any and all
appropriate action which the Lien Grantor might take with respect to the Copyright Collateral and to execute any and all documents and instruments which may be necessary or desirable to carry out the terms of this Copyright Security Agreement and to
accomplish the purposes hereof. 
 Except to the extent expressly permitted in the Security Agreement or the Credit Agreement,
the Lien Grantor agrees not to sell, license, exchange, assign or otherwise transfer or dispose of, or grant any rights with respect to, or mortgage or otherwise encumber, any of the Copyright Collateral. 

The foregoing security interest is granted in conjunction with the security interests granted by the Lien Grantor to the Grantee pursuant
to the Security Agreement. The Lien Grantor acknowledges and affirms that the rights and remedies of the Grantee with respect to the security interest in the Copyright Collateral granted hereby are more fully set forth in the Security Agreement, the
terms and provisions of which are incorporated by reference herein as if fully set forth herein. 

  
 B-2

 IN WITNESS WHEREOF, the Lien Grantor has caused this Copyright Security Agreement to be duly
executed by its officer thereunto duly authorized as of the      day of             ,     . 

 

			
	[NAME OF LIEN GRANTOR]
		
	 By:
	 	  

		 	 Name:

		 	 Title:

  

			
	 Acknowledged:

	
	MORGAN STANLEY SENIOR FUNDING, INC., as Agent
		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 B-3

  

							
	STATE OF	 	  
	 		 	)

							
		 		 		 	) ss.:
	COUNTY OF	 	  
	 		 	)

 I,
                                        
, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY, that
                                        ,
                        , of [NAME OF LIEN GRANTOR] (the “Lien Grantor”), personally known to me
to be the same person whose name is subscribed to the foregoing instrument as such                         ,
appeared before me this day in person and acknowledged that (s)he signed, executed and delivered the said instrument as her/his own free and voluntary act and as the free and voluntary act of said Lien Grantor, for the uses and purposes therein set
forth being duly authorized so to do. 
 GIVEN under my hand and Notarial Seal this      day
of             ,     . 
  

	
	[Seal]
	
	  

	Signature of notary public

			
	My Commission expires	 	  

  
 B-4

 Schedule 1 
 to Copyright 
 Security Agreement 

[NAME OF LIEN GRANTOR] 
 COPYRIGHT REGISTRATIONS 
  

											
	 Registration No.
	  	 Registration Date
	 	  	 Title
	 	  	 Expiration Date

		  				  				  	

 COPYRIGHT APPLICATIONS 

 

																	
	 Case No.
	  	 Serial No.
	 	  	 Country
	 	  	 Date
	 	  	 Filing Title
	 
		  				  				  				  			

 COPYRIGHT LICENSES 

 

													
	 Name of
Agreement
	  	 Parties
Licensor/Licensee
	 	  	 Date of
Agreement
	 	  	 Subject
Matter
	 
		  				  				  			

  
 B-5

 EXHIBIT C 
 to Security Agreement 
 PATENT SECURITY AGREEMENT 

(Patents, Patent Applications and Patent Licenses) 

WHEREAS, [name of Lien Grantor], a
                                        
 corporation11 (herein referred to as the “Lien
Grantor”) owns, or in the case of licenses is a party to, the Patent Collateral (as defined below); 
 WHEREAS, CNO
Financial Group, Inc. (the “Company”), the Lenders party thereto, and Morgan Stanley Senior Funding, Inc., as Agent, are parties to a Credit Agreement dated as of December 21, 2010 (as amended, supplemented or otherwise
modified from time to time, the “Credit Agreement”); and 
 WHEREAS, pursuant to (i) a
Guarantee and Security Agreement dated as of December 21, 2010 (as amended and/or supplemented from time to time, the “Security Agreement”) among the Company, the Subsidiary Guarantors party thereto and Morgan Stanley Senior
Funding, Inc., as Agent for the Secured Parties referred to therein (in such capacity, together with its successors and assigns in such capacity, the “Grantee”), and (ii) certain other Security Documents (including this Patent
Security Agreement), the Lien Grantor has [secured certain of its obligations (the “Secured
Obligations”)]12 [guaranteed certain obligations
of the Company and secured such guarantee (the “Lien Grantor’s Secured Guarantee of the Secured Obligations”)]13 by granting to the Grantee for the benefit of such Secured Parties a continuing security interest in personal property
of the Lien Grantor, including all right, title and interest of the Lien Grantor in, to and under the Patent Collateral (as defined below); 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Lien Grantor grants to the Grantee, to secure the [Secured Obligations] [Lien
Grantor’s Secured Guarantee of the Secured Obligations], a continuing security interest in all of the Lien Grantor’s right, title and interest in, to and under the following (all of the following items or types of property being herein
collectively referred to as the “Patent Collateral”), whether now owned or existing or hereafter acquired or arising: 
 (i) each Patent (as defined in the Security Agreement) owned by the Lien Grantor, including, without limitation, each Patent referred to in Schedule 1 hereto; 

(ii) each Patent License (as defined in the Security Agreement) to which the Lien Grantor is a party, including, without
limitation, each Patent License identified in Schedule 1 hereto; and 
  

	11	 Modify as needed if the Lien Grantor is not a corporation. 

	12	 Delete these
bracketed words if the Lien Grantor is a Subsidiary Guarantor. 

	13	 Delete these
bracketed words if the Lien Grantor is the Company. 

 (iii) all proceeds of and revenues from the foregoing, including, without
limitation, all proceeds of and revenues from any claim by the Lien Grantor against third parties for past, present or future infringement of any Patent owned by the Lien Grantor (including, without limitation, any Patent identified in Schedule 1
hereto) and all rights and benefits of the Lien Grantor under any Patent License (including, without limitation, any Patent License identified in Schedule 1 hereto). 
 The Lien Grantor irrevocably constitutes and appoints the Grantee and any officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact with full power and authority
in the name of the Lien Grantor or in the Grantee’s name, from time to time, in the Grantee’s reasonable discretion, so long as any Event of Default shall have occurred and be continuing, to take with respect to the Patent Collateral, in
accordance with the Security Agreement, any and all appropriate action which the Lien Grantor might take with respect to the Patent Collateral and to execute any and all documents and instruments which may be necessary or desirable to carry out the
terms of this Patent Security Agreement and to accomplish the purposes hereof. 
 Except to the extent expressly permitted in
the Security Agreement or the Credit Agreement, the Lien Grantor agrees not to sell, license, exchange, assign or otherwise transfer or dispose of, or grant any rights with respect to, or mortgage or otherwise encumber, any of the Patent Collateral.

 The foregoing security interest is granted in conjunction with the security interests granted by the Lien Grantor to the
Grantee pursuant to the Security Agreement. The Lien Grantor acknowledges and affirms that the rights and remedies of the Grantee with respect to the security interest in the Patent Collateral granted hereby are more fully set forth in the Security
Agreement, the terms and provisions of which are incorporated by reference herein as if fully set forth herein. 

  
 C-2

 IN WITNESS WHEREOF, the Lien Grantor has caused this Patent Security Agreement to be duly
executed by its officer thereunto duly authorized as of the      day of             ,     . 

 

			
	 [NAME OF LIEN GRANTOR]

		
	 By:
	 	  

		 	 Name:

		 	 Title:

  

			
	 Acknowledged:

	
	MORGAN STANLEY SENIOR FUNDING, INC., as Agent
		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 C-3

  

							
	STATE OF	 	  
	 		 	)

							
		 		 		 	) ss.:
	COUNTY OF	 	  
	 		 	)

 I,
                                        
, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY, that
                                        ,
                        , of [NAME OF LIEN GRANTOR] (the “Lien Grantor”), personally known to me
to be the same person whose name is subscribed to the foregoing instrument as such                         ,
appeared before me this day in person and acknowledged that (s)he signed, executed and delivered the said instrument as her/his own free and voluntary act and as the free and voluntary act of said Lien Grantor, for the uses and purposes therein set
forth being duly authorized so to do. 
 GIVEN under my hand and Notarial Seal this      day
of             ,     . 
  

	
	 [Seal]

	
	  

			
	 Signature of notary public

	 My Commission expires
	 	  

  
 C-4

 Schedule 1 
 to Patent 
 Security Agreement 

[NAME OF LIEN GRANTOR] 
 PATENTS AND DESIGN PATENTS 
  

									
	 Patent No.
	  	 Issued
	  	 Expiration
	  	 Country
	  	 Title

		  		  		  		  	

 PATENT APPLICATIONS 

 

									
	 Case No.
	  	 Serial No.
	  	 Country
	  	 Date
	  	 Filing Title

		  		  		  		  	

 PATENT LICENSES 

 

							
	 Name of
Agreement
	  	 Parties
Licensor/Licensee
	  	 Date of
Agreement
	  	 Subject
Matter

		  		  		  	

  
 C-5

 EXHIBIT D 
 to Security Agreement 
 TRADEMARK SECURITY AGREEMENT 

(Trademarks, Trademark Registrations, Trademark 
 Applications and Trademark Licenses) 
 WHEREAS, [name
of Lien Grantor], a
                                        
 corporation14 (herein referred to as the “Lien
Grantor”) owns, or in the case of licenses is a party to, the Trademark Collateral (as defined below); 
 WHEREAS, CNO
Financial Group, Inc. (the “Company”), the Lenders party thereto, and Morgan Stanley Senior Funding, Inc., as Agent, are parties to a Credit Agreement dated as of December 21, 2010 (as amended, supplemented or otherwise
modified from time to time, the “Credit Agreement”); and 
 WHEREAS, pursuant to (i) a
Guarantee and Security Agreement dated as of December 21, 2010 (as amended, supplemented or otherwise modified from time to time, the “Security Agreement”) among the Company, the Subsidiary Guarantors party thereto and Morgan
Stanley Senior Funding, Inc., as Agent for the Secured Parties referred to therein (in such capacity, together with its successors and assigns in such capacity, the “Grantee”), and (ii) certain other Security Documents
(including this Trademark Security Agreement), the Lien Grantor has [secured certain of its obligations (the “Secured Obligations”)]15 [guaranteed certain obligations of the Company and secured such guarantee (the “Lien Grantor’s Secured
Guarantee of the Secured Obligations”)]16 by
granting to the Grantee for the benefit of such Secured Parties a continuing security interest in personal property of the Lien Grantor, including all right, title and interest of the Lien Grantor in, to and under the Trademark Collateral (as
defined below); 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Lien Grantor grants to the Grantee, to secure the [Secured Obligations] [Lien Grantor’s Secured Guarantee of the Secured Obligations], a continuing security interest in all of the Lien Grantor’s right, title and interest
in, to and under the following (all of the following items or types of property being herein collectively referred to as the “Trademark Collateral”), whether now owned or existing or hereafter acquired or arising: 

(i) each Trademark (as defined in the Security Agreement) owned by the Lien Grantor, including, without limitation, each
Trademark registration and application referred to in Schedule 1 hereto, and all of the goodwill of the business connected with the use of, or symbolized by, each Trademark; 

 

	14	 Modify as needed if the Lien Grantor is not a corporation. 

	15	 Delete these bracketed words if the Lien Grantor is a Subsidiary Guarantor. 

	16	 Delete these bracketed words if the Lien Grantor is the Company. 

 (ii) each Trademark License (as defined in the Security Agreement) to which
the Lien Grantor is a party, including, without limitation, each Trademark License identified in Schedule 1 hereto, and all of the goodwill of the business connected with the use of, or symbolized by, each Trademark licensed pursuant thereto;
and 
 (iii) all proceeds of and revenues from the foregoing, including, without limitation, all proceeds of and
revenues from any claim by the Lien Grantor against third parties for past, present or future unfair competition with, or violation of intellectual property rights in connection with or injury to, or infringement or dilution of, any Trademark owned
by the Lien Grantor (including, without limitation, any Trademark identified in Schedule 1 hereto), and all rights and benefits of the Lien Grantor under any Trademark License (including, without limitation, any Trademark License identified in
Schedule 1 hereto), or for injury to the goodwill associated with any of the foregoing. 
 provided that intent-to-use trademark
applications are excluded from the foregoing security interests, to the extent that, and solely during the period in which, the grant of a security interest therein would impair the validity and enforceability of such intent-to-use trademark
applications under applicable United States federal law. 
 The Lien Grantor irrevocably constitutes and appoints the Grantee
and any officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact with full power and authority in the name of the Lien Grantor or in the Grantee’s name, from time to time, in the Grantee’s
reasonable discretion, so long as any Event of Default shall have occurred and be continuing, to take with respect to the Trademark Collateral, in accordance with the Security Agreement, any and all appropriate action which the Lien Grantor might
take with respect to the Trademark Collateral and to execute any and all documents and instruments which may be necessary or desirable to carry out the terms of this Trademark Security Agreement and to accomplish the purposes hereof. 

Except to the extent expressly permitted in the Security Agreement or the Credit Agreement, the Lien Grantor agrees not to sell, license,
exchange, assign or otherwise transfer or dispose of, or grant any rights with respect to, or mortgage or otherwise encumber, any of the Trademark Collateral. 
 The foregoing security interest is granted in conjunction with the security interests granted by the Lien Grantor to the Grantee pursuant to the Security Agreement. The Lien Grantor acknowledges and
affirms that the rights and remedies of the Grantee with respect to the security interest in the Trademark Collateral granted hereby are more fully set forth in the Security Agreement, the terms and provisions of which are incorporated by reference
herein as if fully set forth herein. 

  
 D-2

 IN WITNESS WHEREOF, the Lien Grantor has caused this Trademark Security Agreement to be duly
executed by its officer thereunto duly authorized as of the      day of             ,     . 

 

			
	[NAME OF LIEN GRANTOR]
		
	 By:
	 	  

		 	 Name:

		 	 Title:

  

			
	Acknowledged:
	
	MORGAN STANLEY SENIOR FUNDING, INC., as Agent
		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 D-3

  

							
	STATE OF	 	  
	 		 	)

							
		 		 		 	) ss.:
	COUNTY OF	 	  
	 		 	)

 I,
                                        
, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY, that
                                        ,
                        , of [NAME OF LIEN GRANTOR] (the “Lien Grantor”), personally known to me
to be the same person whose name is subscribed to the foregoing instrument as such                         ,
appeared before me this day in person and acknowledged that (s)he signed, executed and delivered the said instrument as her/his own free and voluntary act and as the free and voluntary act of said Lien Grantor, for the uses and purposes therein set
forth being duly authorized so to do. 
 GIVEN under my hand and Notarial Seal this      day
of             ,     . 
  

	
	[Seal]
	
	  

			
	Signature of notary public
	My Commission expires	 	  

  
 D-4

 Schedule 1 
 to Trademark 
 Security Agreement 

[NAME OF LIEN GRANTOR] 
 U.S. TRADEMARK REGISTRATIONS 
  

									
	 TRADEMARK
	  	REG. NO.	 	  	REG. DATE	 
		  				  			

 U.S. TRADEMARK APPLICATIONS 

 

									
	 TRADEMARK
	  	REG. NO.	 	  	REG. DATE	 
		  				  			

  
 D-5

 TRADEMARK LICENSES 

 

													
	 Name of
Agreement
	  	 Parties
Licensor/Licensee
	 	  	 Date of
Agreement
	 	  	 Subject
Matter
	 
		  				  				  			

  
 D-6

 EXHIBIT E to 
 Security Agreement 
 PERFECTION CERTIFICATE 

[SEE ATTACHED] 

 EXHIBIT F to 
 Security Agreement 
 ISSUER CONTROL AGREEMENT 

ISSUER CONTROL AGREEMENT dated as of
                ,                  among [NAME OF LIEN
GRANTOR] (the “Lien Grantor”), Morgan Stanley Senior Funding, Inc., as Agent (the “Secured Party”), and [NAME OF ISSUER] (the “Issuer”). All references herein to the “UCC” refer to
the Uniform Commercial Code as in effect from time to time in [Issuer’s jurisdiction of incorporation]. 
 W I T N E S S E T
H : 
 WHEREAS, the Lien Grantor is the registered holder of [specify Pledged Uncertificated Securities issued by the Issuer]
issued by the Issuer (the “Securities”); 
 WHEREAS, pursuant to a Guarantee and Security Agreement dated as of
December 21, 2010 (as such agreement may be amended, supplemented or otherwise modified from time to time, the “Security Agreement”), the Lien Grantor has granted to the Secured Party a continuing security interest (the
“Transaction Lien”) in all right, title and interest of the Lien Grantor in, to and under the Securities, whether now existing or hereafter arising; and 
 WHEREAS, the parties hereto are entering into this Agreement in order to perfect the Transaction Lien on the Securities; 
 NOW, THEREFORE, the parties hereto agree as follows: 
 Section 1. Nature
of Securities. The Issuer confirms that (i) the Securities are “uncertificated securities” (as defined in Section 8-102 of the UCC) and (ii) the Lien Grantor is registered on the books of the Issuer as the registered
holder of the Securities. 
 Section 2. Instructions. The Issuer agrees to comply with any “instruction”
(as defined in Section 8-102 of the UCC) originated by the Secured Party and relating to the Securities without further consent by the Lien Grantor or any other person. The Lien Grantor consents to the foregoing agreement by the Issuer.

 Section 3. Waiver of Lien; Waiver of Set-off. The Issuer waives any security interest, lien or right of set-off
that it may now have or hereafter acquire in or with respect to the Securities. The Issuer’s obligations in respect of the Securities will not be subject to deduction, set-off or any other right in favor of any person other than the Secured
Party. 
 Section 4. Choice of Law. This Agreement shall be governed by the laws of [Issuer’s jurisdiction of
incorporation]. 
 Section 5. Conflict with Other Agreements. There is no agreement (except this Agreement) between
the Issuer and the Lien Grantor with respect to the Securities [except for [identify any existing other agreements] (the “Existing Other Agreements”)]. In the event of any conflict between this Agreement (or any portion hereof) and
any other agreement [(including any Existing Other Agreement)] between the Issuer and the Lien Grantor with respect to the Securities, whether now existing or hereafter entered into, the terms of this Agreement shall prevail. 

 Section 6. Amendments. No amendment or modification of this Agreement or waiver
of any right hereunder shall be binding on any party hereto unless it is in writing and is signed by all the parties hereto. 

Section 7. Notice of Adverse Claims. As of the date hereof, except for the claims and interests of the Secured Party and the
Lien Grantor in the Securities, the Issuer does not know of any claim to, or interest in, the Securities. When the Issuer knows of any person asserting any lien, encumbrance or adverse claim (including any writ, garnishment, judgment, attachment,
execution or similar process) against the Securities, the Issuer will promptly notify the Secured Party and the Lien Grantor thereof. 
 Section 8. Maintenance of Securities. In addition to, and not in lieu of, the obligation of the Issuer to honor instructions as agreed in Section 2 hereof, the Issuer agrees as follows:

 (i) Lien Grantor Instructions; Notice of Exclusive Control. So long as the Issuer has not received a
Notice of Exclusive Control (as defined below), the Issuer may comply with instructions of the Lien Grantor or any duly authorized agent of the Lien Grantor in respect of the Securities. After the Issuer receives a written notice from the Secured
Party that it is exercising exclusive control over the Securities (a “Notice of Exclusive Control”) and until such Notice of Exclusive Control is rescinded by the Secured Party, the Issuer will cease complying with instructions of
the Lien Grantor or any of its agents. 
 (ii) Dividends and Distributions. So long as the Issuer has not
received a Notice of Exclusive Control, the Issuer shall deliver to the Lien Grantor all dividends, interest and other distributions paid or made upon or with respect to the Securities. After the Issuer receives a Notice of Exclusive Control (and
until such Notice of Exclusive Control is rescinded by the Secured Party), the Issuer shall deliver to the Secured Party all dividends, interest and other distributions paid or made upon or with respect to the Securities. 

(iii) Voting Rights. Until the Issuer receives a Notice of Exclusive Control, the Lien Grantor shall be entitled to
direct the Issuer with respect to voting the Securities. 
 (iv) Statements and Confirmations. The Issuer
will promptly send copies of all statements and other correspondence concerning the Securities simultaneously to each of the Lien Grantor and the Secured Party at their respective addresses specified in Section 11 hereof. 

(v) Tax Reporting. All items of income, gain, expense and loss recognized in respect of the Securities shall be
reported to the Internal Revenue Service and all state and local taxing authorities under the name and taxpayer identification number of the Lien Grantor. 
 Section 9. Representations, Warranties and Covenants of the Issuer. The Issuer makes the following representations, warranties and covenants: 

(i) This Agreement is a valid and binding agreement of the Issuer enforceable in accordance with its terms, except as
limited by (A) applicable bankruptcy, insolvency, fraudulent conveyance or other similar laws affecting creditors’ rights generally and (B) general principles of equity. 

(ii) The Issuer has not entered into, and until the termination of this Agreement will not enter into, any agreement with
any other person relating to the Securities pursuant to which it has agreed, or will agree, to comply with instructions (as defined in Section 8-102 of the UCC) of such person. The Issuer has not entered into any other agreement with the Lien
Grantor or the Secured Party purporting to limit or condition the obligation of the Issuer to comply with instructions as agreed in Section 2 hereof. 

 Section 10. Successors. This Agreement shall be binding upon, and shall inure to
the benefit of, the parties hereto and their respective successors and assigns. 
 Section 11. Notices. Each notice,
request or other communication given to any party hereunder shall be in writing (which term includes facsimile or other electronic transmission) and shall be effective (i) when delivered to such party at its address specified below,
(ii) when sent to such party by facsimile or other electronic transmission, addressed to it at its facsimile number or electronic mail address specified below, and such party sends back an electronic confirmation of receipt or (iv) ten
days after being sent to such party by certified or registered United States mail, addressed to it at its address specified below, with first class or airmail postage prepaid: 
 Lien Grantor: 
 Secured Party: 

Issuer: 
 Any party may change
its address, facsimile number and/or electronic mail address for purposes of this Section by giving notice of such change to the other parties in the manner specified above. 
 Section 12. Termination. The rights and powers granted herein to the Secured Party (i) have been granted in order to perfect the Transaction Lien, (ii) are powers coupled with an
interest and (iii) will not be affected by any bankruptcy of the Lien Grantor or any lapse of time. The obligations of the Issuer hereunder shall continue in effect until the Secured Party has notified the Issuer in writing that the Transaction
Lien has been terminated pursuant to the Security Agreement. 
 Section 13. Counterparts. This Agreement may be
executed in any number of counterparts, all of which shall constitute one and the same instrument, and any party hereto may execute this Agreement by signing and delivering one or more counterparts. Delivery of an executed counterpart of a signature
page to this Agreement by facsimile shall be effective as delivery of an original executed counterpart of this Agreement. 
  

			
	 [NAME OF LIEN GRANTOR]

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 MORGAN STANLEY SENIOR FUNDING, INC., as Agent

		
	 By:
	 	  

		 	 Name:

		 	 Title:

  

			
	[NAME OF ISSUER]
		
	By:	 	  

		 	Name:
		 	Title:

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