Document:

Exhibit 10.2

 

PLEDGE AND
SECURITY AGREEMENT

 

THIS PLEDGE AND
SECURITY AGREEMENT (this “Agreement”), is entered into as of this 3 day of October, 2012, by and among RLJ
ENTERTAINMENT, INC., a Nevada corporation (the “Parent”), RLJ ACQUISITION, INC., a Nevada corporation
(“RLJ Acquisition”), RLJ Merger Sub I, INC., a Nevada
corporation, (“RLJ Acquisition Merger Sub”), RLJ Merger Sub II, INC.,
a Delaware corporation (“Image Merger Sub”), ACORN MEDIA GROUP, INC., a District of Columbia corporation
(“Acorn”), IMAGE ENTERTAINMENT, INC., a Delaware corporation (“Image”; the Parent, RLJ
Acquisition, RLJ Acquisition Merger Sub, Image Merger Sub, Acorn and Image, each individually, a
“Borrower” and collectively, the “Borrowers”), IMAGE/MADACY HOME ENTERTAINMENT, LLC, a
California limited liability company (the “Guarantor”; the Borrowers, the Guarantor, and each other Person
that becomes a Grantor hereto pursuant to Section 5.11 of the Credit Agreement (as defined herein), each individually,
a “Grantor” and collectively, the “Grantors”), and SUNTRUST BANK, as administrative
agent (in such capacity, the “Administrative Agent”) on behalf of the Secured Parties.

 

WITNESSETH:

 

WHEREAS, the
Borrowers and the Guarantor have entered into that certain Credit Agreement dated as of the date hereof (as the same may be hereafter
amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) by and among
the Borrowers, the Guarantor, the other guarantors party thereto, the Administrative Agent, and the lenders party thereto (the
“Lenders”), pursuant to which, among other things, the Lenders have agreed to make Loans to the Borrowers, subject
to the terms and conditions set forth therein;

 

WHEREAS, each
Grantor (other than the Borrowers) has entered into that certain Guaranty Agreement contained in the Credit Agreement in favor
of the Administrative Agent on behalf of the Secured Parties pursuant to which, among other things, such Grantor has guaranteed
the prompt payment and performance of all of the Obligations;

 

WHEREAS, the
Grantors are members of a group of related entities, the success of any one of which is dependent in part on the success of the
other members of such group:

 

WHEREAS, each
Grantor has determined that its execution, delivery and performance of this Agreement and the other Loan Documents to which it
is a party directly benefits, and is within the corporate or limited liability company or partnership purposes and in the best
interests of, such Grantor;

 

WHEREAS, as
a condition precedent to the effectiveness of the Credit Agreement and the making of Loans pursuant thereto, each Grantor is required
to execute and deliver this Agreement; and

 

WHEREAS, to
secure the due and punctual payment and performance of the Secured Obligations (as defined below), each Grantor wishes to grant
to the Administrative Agent, on behalf of the Secured Parties, a security interest in and lien on the Collateral (as defined below).

 

    	 

    	 

    

 

NOW, THEREFORE,
for and in consideration of the above premises and the mutual covenants and agreements contained herein and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.          Definitions.
All capitalized terms used herein without definition shall have the meanings ascribed thereto in the Credit Agreement. Any terms
(whether capitalized or lower case) used in this Agreement that are defined in the UCC shall be construed and defined as set forth
in the UCC unless otherwise defined herein or in the Credit Agreement; provided, however, that to the extent that
the UCC is used to define any term used herein and if such term is defined differently in different Articles of the UCC, the definition
of such term contained in Article 9 of the UCC shall govern.

 

2.          Grant
of Security Interest.

 

(a)          Each
Grantor hereby unconditionally grants, assigns, and pledges to the Administrative Agent, for the benefit of the Secured Parties,
a continuing security interest in and lien on (hereinafter referred to as the “Security Interest”) all of its
property and assets whether now owned or hereafter created, acquired or reacquired, and wherever located, including, without limitation,
such Grantor’s right, title and interest in and to the property and assets described below and all substitutions therefor,
accessions thereto and improvements thereon (collectively, the “Collateral”):

 

(i)          Inventory;

 

(ii)         Equipment
and Fixtures;

 

(iii)        Accounts;

 

(iv)        (1)
All contracts, license agreements, customer service agreements, and other agreements to which such Grantor is a party, whether
now existing or hereafter arising, (collectively, to the extent not excluded by the final paragraph of this Section 2(a),
the “Contracts”); (2) all lease agreements for real property or personal property to which such Grantor
is a party (collectively, to the extent not excluded by the final paragraph of this Section 2(a), the “Leases”),
whether now existing or hereafter arising; and (3) all other contracts and contractual rights, remedies or provisions now existing
or hereafter arising in favor of such Grantor, together with all amendments thereto and all other documents executed in connection
therewith (collectively, to the extent not excluded by the final paragraph of this Section 2(a), the “Other Contracts”);

 

(v)         all
Deposit Accounts and lockboxes and any funds or items located therein or directed thereto and, in any event, including, without
limitation, any lockbox account, checking or other demand deposit account, concentration, time, savings, passbook or similar account
maintained with a bank and all cash, and all other property from time to time deposited therein or otherwise credited thereto;

 

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(vi)        General
Intangibles, including, without limitation, all patents, patent applications, trademarks and the goodwill associated with such
trademarks, trademark applications, copyrights, copyright applications, trade secrets, domain names, all licenses with respect
to the foregoing (except, in those instances in which a Grantor is the licensee, to the extent excluded by the final paragraph
of this Section 2(a)), and all other intellectual property or proprietary rights and claims or causes of action arising
out of or related to any infringement, misappropriation or other violation of any of the foregoing, including, without limitation,
rights to recover for past, present and future violations thereof;

 

(vii)       Letter
of Credit Rights;

 

(viii)      All
of such Grantor’s right, title and interest existing in and to all of the Capital Stock in other Persons (each, a “Pledged
Company”) now owned or hereafter acquired by such Grantor including, but not limited to, Capital Stock in each of the
Subsidiaries of such Grantor, as more particularly described on Schedule 1 attached hereto and incorporated by reference
herein (collectively, to the extent not excluded by the final paragraph of this Section 2(a), the “Pledged Capital
Stock”) and all substitutions therefor and replacements thereof, all proceeds thereof and all rights relating thereto,
also including any certificates representing the Pledged Capital Stock, the right to receive any certificates representing any
of the Pledged Capital Stock, all warrants, options, share appreciation rights, registration rights and other rights, contractual
or otherwise, in respect thereof and the right to receive all dividends, distributions of income, profits, surplus, or other compensation
by way of income or liquidating distributions, in cash or in kind, and all cash, instruments, and other property from time to time
received, receivable, or otherwise distributed in respect of or in addition to, in substitution of, on account of, or in exchange
for any or all of the foregoing;

 

(ix)         Investment
Property;

 

(x)          To
the extent now or hereafter permitted by applicable law, all franchises, operating licenses, permits and operating rights authorizing
or relating to such Grantor’s business (collectively, to the extent not excluded by the final paragraph of this Section
2(a), the “Licenses”);

 

(xi)         All
books and records (including each Grantor’s Records indicating, summarizing, or evidencing such Grantor’s assets (including
the Collateral) or liabilities, each Grantor’s Records relating to such Grantor’s business operations or financial
condition, and each Grantor’s goods or General Intangibles related to such information);

 

(xii)        All
software of such Grantor, other than software embedded in any category of goods, including, without limitation, all computer programs
and all supporting information provided in connection with a transaction related to any program (collectively, to the extent not
excluded by the final paragraph of this Section 2(a), the “Software”);

 

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(xiii)       All
Goods, Chattel Paper, Documents, Instruments, choses in action, claims, money, deposits, certificates of deposit, stock or share
certificates, Commercial Tort Claims described on Schedule 3 hereto, and other tangible and intangible personal property
not included above;

 

(xiv)      All
Supporting Obligations, including, without limitation, letters of credit and guaranties issued in support of Accounts, Chattel
Paper, Documents, General Intangibles, Instruments, or Investment Property; and

 

(xv)       All
products and proceeds of any of the above, and all proceeds of any loss of, damage to or destruction of any of the above, whether
insured or not insured, and all other proceeds of any sale, lease or other disposition of any property or interest therein referred
to above, or of any franchise, license, permit or operating right issued by any governmental or regulatory body or agency, whether
or not constituting a License, including, without limitation, the proceeds of the sale or other disposition of any License, together
with all proceeds of, or payments under, or in respect of any policies of insurance covering any or all of the above, indemnity
or warranty payments with respect to any of the above, the proceeds of any award in condemnation with respect to any of the property
covered above, any rebates or refunds, whether for taxes or otherwise, and all proceeds of any such proceeds (collectively, the
“Proceeds”).

 

Notwithstanding anything
contained in this Agreement to the contrary, the term “Collateral” shall not include any of the following (collectively,
the “Excluded Collateral”): (i) any rights or interest in any contract, lease, agreement, permit, license, or
license agreement covering real or personal property of any Grantor if under the terms of such contract, lease, agreement, permit,
license, or license agreement, or applicable law with respect thereto, the assignment thereof or the grant of a security interest
or lien therein is prohibited by or in violation of any law, rule or regulation applicable to such Grantor or a term, provision
or condition of such contract, lease, agreement, permit, license, or license agreement and such prohibition or restriction has
not been waived or the consent of the other party to such contract, lease, agreement, permit, license, or license agreement has
not been obtained (provided that, (A) the foregoing exclusions of this clause (i) shall in no way be construed (1) to apply to
the extent that any described prohibition or restriction is unenforceable under Section 9-406, 9-407, 9-408, or 9-409 of the UCC
(or any successor provision or provisions) or other applicable law, or (2) to apply to the extent that any consent or waiver has
been obtained that would permit Administrative Agent’s security interest or lien notwithstanding the prohibition or restriction
on the pledge of such contract, lease, agreement, permit, license, or license agreement and (B) the foregoing exclusions of clause
(i) shall in no way be construed to limit, impair, or otherwise affect any of Administrative Agent’s continuing security
interests in and liens upon any rights or interests of any Grantor in or to (1) monies due or to become due under or in connection
with any described contract, lease, agreement, permit, license, license agreement, or Capital Stock, or (2) any proceeds from the
sale, license, lease, or other dispositions of any such contract, lease, agreement, permit, license, license agreement, or Capital
Stock); (ii) any 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 or enforceability of such intent-to-use trademark applications under applicable
federal law, provided that upon submission and acceptance by the United States Patent and Trademark Office of an amendment to allege
use pursuant to 15 U.S.C. Section 1060(a) (or any successor provision), such applicable intent-to-use trademark application shall
be considered Collateral; or (iii) until a security interest therein is required to be granted pursuant to Section 5.19
of the Credit Agreement, any Capital Stock held by a Grantor in its Foreign Subsidiaries.

 

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(b)          This
Agreement and the Security Interest in the Collateral granted hereunder secure (i) the timely fulfillment and performance of each
and every covenant and obligation of each Grantor under this Agreement, the Credit Agreement, the Guaranty Agreement, and any other
Loan Documents to which any Grantor is a party and (ii) the payment and performance of all Obligations when due, including without
limitation, Secured Hedging Obligations, Bank Product Obligations, and indemnities and other contingent obligations under the Loan
Documents which by their terms survive the satisfaction and termination of the other Obligations (collectively, the “Secured
Obligations”).

 

(c)          Notwithstanding
anything herein to the contrary, unless an Event of Default has occurred and is continuing, and except as otherwise provided herein
or in any of the other Loan Documents, each Grantor shall have the right to receive and retain all cash and cash equivalent proceeds
of the Pledged Capital Stock, including, but not limited to, cash dividends and distributions received by such Grantor to the extent
permitted by the Loan Documents. It is the intention of the parties hereto that beneficial ownership of the Pledged Capital Stock,
including, without limitation, all voting, consensual and distribution rights, shall remain in the Grantors until the occurrence
and during the continuance of an Event of Default and until the Administrative Agent shall notify the Grantors of the Administrative
Agent’s exercise of voting, consensual and distribution rights to the Pledged Capital Stock pursuant to Section 19
of this Agreement.

 

(d)          For
avoidance of doubt, it is expressly understood and agreed that, to the extent the UCC is revised subsequent to the date hereof
such that the definition of any of the foregoing terms included in the description of Collateral is changed, the parties hereto
desire that any property which is included in such changed definitions which would not otherwise be included in the foregoing grant
on the date hereof be included in such grant immediately upon the effective date of such revision. Notwithstanding the immediately
preceding sentence, the foregoing grant is intended to apply immediately on the date hereof to all Collateral to the fullest extent
permitted by applicable law regardless of whether any particular item of Collateral is currently subject to the UCC.

 

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

 

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3.          Further
Assurances; Authorization; Power of Attorney.

 

(a)          Each
Grantor agrees to make, execute, deliver or cause to be done, executed and delivered, from time to time, all such further acts,
documents and things as the Administrative Agent, on behalf of itself or any Secured Party, may reasonably require for the purpose
of perfecting or protecting its or their rights hereunder or otherwise giving effect to this Agreement, all promptly upon request
therefor, including, but not limited to, delivery of updated schedules describing the Collateral at such times as the Administrative
Agent may reasonably request and in form and substance reasonably satisfactory to the Administrative Agent. Each Grantor shall
take or cause to be performed such acts and actions as shall be necessary to assure that the Security Interest in the Collateral
granted hereunder shall not become subordinate or junior to the security interests, liens or claims of any other Person except
for Permitted Liens.

 

(b)          Each
Grantor hereby authorizes the Administrative Agent, on behalf of the Secured Parties, to file such financing statements and such
other documents with respect to the Collateral without the signature of such Grantor (as applicable) in such form and in such filing
offices as the Administrative Agent may deem necessary or reasonably desirable to protect or perfect the interest of the Administrative
Agent in the Collateral and such Grantor hereby irrevocably authorizes the Administrative Agent at any time and from time to time
to file in any filing office in any Uniform Commercial Code jurisdiction any initial financing statements and amendments thereto
that (i) indicate the Collateral (A) as all assets of such Grantor or words of similar effect, regardless of whether any particular
asset comprised in the Collateral falls within the scope of Article 9 of the Uniform Commercial Code of such jurisdiction, or (B)
as being of an equal or lesser scope or with greater detail, and (ii) contain any other information required by part 5 of Article
9 of the UCC for the sufficiency or filing office acceptance of any financing statement or amendment, including (A) whether such
Grantor is an organization, the type of organization and any organization identification number issued to such Grantor, and (B)
in the case of a financing statement filed as a fixture filing or indicating Collateral as as-extracted collateral or timber to
be cut, a sufficient description of real property to which the Collateral relates. Each Grantor agrees to, at its sole cost and
expense, (x) execute and deliver any financing or continuation statements, financing statement amendments and other documents required
to be filed with respect to the Collateral and (y) furnish any information described in clause (ii) of the foregoing sentence,
in each case, to the Administrative Agent promptly upon request. Each Grantor further irrevocably appoints the Administrative Agent,
on behalf of the Secured Parties, as such Grantor’s attorney-in-fact, with power of attorney to execute on behalf of such
Grantor such financing statement amendments or continuations as the Administrative Agent may from time to time deem necessary or
desirable to protect or perfect such interest. Such power of attorney is coupled with an interest and shall be irrevocable for
so long as any of the Secured Obligations (other than unmatured contingent obligations, Secured Hedging Obligations and Bank Product
Obligations which are not by their terms required to be satisfied upon the termination of the Credit Agreement) remains unpaid
or unperformed or any of the Lenders has any obligation to make Loans under the Credit Agreement, regardless of whether the conditions
precedent to the making of any such Loans have been or can be fulfilled.

 

4.          Covenants
with respect to Perfection of Security Interest.

 

(a)          Pledge
of Instruments; Control Agreements; Chattel Paper.

 

(i)          Unless
the Administrative Agent shall otherwise consent in writing (which consent may be revoked), each Grantor shall deliver to the Administrative
Agent all Collateral consisting of negotiable documents, chattel paper, promissory notes and instruments, in each case with respect
to the foregoing with a face amount in excess of $100,000 individually (in each case, accompanied by allonges or other instruments
of transfer executed in blank) promptly after such Grantor receives the same.

 

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(ii)         If
required by the terms of the Credit Agreement and not waived by the Administrative Agent in writing (which waiver may be revoked),
each Grantor shall obtain authenticated Investment Control Agreements from each issuer of uncertificated securities, securities
intermediary, or commodities intermediary issuing or holding any financial assets or commodities to or for such Grantor.

 

(iii)        Each
Grantor shall obtain a Deposit Account Control Agreement with each bank or financial institution holding a Deposit Account (other
than any Excluded Account) for such Grantor, which agreements shall be in form and substance reasonably satisfactory to the Administrative
Agent.

 

(iv)        If
any Grantor is or becomes the beneficiary of a letter of credit with a face amount in excess of $100,000, such Grantor
shall promptly, and in any event within ten (10) Business Days after becoming a beneficiary, notify the Administrative Agent thereof
and, unless the Administrative Agent shall otherwise consent in writing (which consent may be revoked), use commercially reasonable
efforts to enter into a tri-party agreement with the Administrative Agent and the issuer and/or confirmation bank with respect
to Letter of Credit Rights assigning such Letter of Credit Rights to the Administrative Agent and directing all payments thereunder
to a deposit account that is subject to a Deposit Account Control Agreement in favor of the Administrative Agent or over which
the Administrative Agent otherwise has “control” (as such term is used under Article 9 of the UCC), all in form and
substance reasonably satisfactory to the Administrative Agent.

 

(v)         Each
Grantor shall, unless the Administrative Agent shall otherwise consent in writing (which consent may be revoked), take all steps
reasonably necessary to grant the Administrative Agent control of all electronic chattel paper with a face amount in excess of
$100,000 in accordance with the UCC and all “transferable records” as defined in each of the Uniform Electronic Transactions
Act and the Electronic Signatures in Global and National Commerce Act.

 

(vi)        Each
Grantor shall promptly, and in any event within ten (10) Business Days after obtaining actual knowledge that the same has been
acquired by it, notify the Administrative Agent of any Commercial Tort Claim with a face amount in excess of $250,000 acquired
by it and unless otherwise consented by the Administrative Agent, such Grantor shall enter into a supplement to this Agreement
in substantially the form attached as Annex 1 hereto, granting to the Administrative Agent a Lien in such Commercial Tort
Claim.

 

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(vii)       If
at any time any Grantor has taken a security interest in any property of an account debtor or any other Person to secure payment
and performance of an Account, such Grantor is hereby deemed to have assigned such security interest to the Administrative Agent
as collateral security hereunder, unless such assignment is prohibited by the terms of any such agreement between such Grantor
and such account debtor or by applicable law. Such assignment need not be filed of public record unless necessary to continue the
perfected status of the security interest against creditors of and transferees from the account debtor or other Person granting
the security interest. So long as no Event of Default has occurred and is continuing, the Administrative Agent will refrain from
communicating in any manner with any such account debtor, its creditors, transferees or other Person with regard to the security
interest granted by such account debtor or other Person to secure the payment obligations of such account debtor; provided
that, nothing in this clause (vii) shall be deemed to prohibit the Administrative Agent, on behalf of the Secured Parties, from
contacting such account debtor to verify the validity, amount or the terms relating to such Account, by mail, telephone, facsimile
transmission or otherwise to the extent not prohibited by the Credit Agreement.

 

(viii)      No
Grantor shall, without the Administrative Agent’s prior written consent, grant any extension of the time of payment of any
of the Accounts, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any
Person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts,
compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in
accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor
is engaged.

 

(b)          Covenants
Regarding Patent, Trademark and Copyright Collateral.

 

(i)          Each
Grantor agrees that it will not, nor will it permit any of its licensees to, do any act, or omit to do any act, whereby any patent
owned by such Grantor which is material to the conduct of such Grantor’s business may lapse prior to the end of its statutory
term, and will use its commercially reasonable efforts to avoid any such patent from becoming invalidated or dedicated to the public,
and agrees that it shall continue to mark any products covered by a patent owned by such Grantor with the relevant patent notice
or patent number as may be reasonably necessary and sufficient to establish and preserve its rights under applicable laws.

 

(ii)         Each
Grantor (either itself or through its licensees or its sublicensees) will, for each trademark owned by such Grantor that is material
to the conduct of such Grantor’s business, (i) maintain such trademark in full force free from any claim of abandonment or
invalidity for non-use, (ii) maintain the quality of products and services offered under such trademark, (iii) if applicable, display
such trademark with notice of any Federal or foreign registration to the extent reasonably necessary and sufficient to establish
and preserve its rights under applicable law and (iv) not knowingly use or knowingly permit the use of such trademark in violation
of any third party rights.

 

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(iii)        Each
Grantor (either itself or through its licensees) will, for each work covered by a registered copyright owned by such Grantor that
is material to the conduct of such Grantor’s business, continue to, as applicable, publish, reproduce, display, adopt and
distribute the work with appropriate copyright notice as reasonably necessary and sufficient to establish and preserve its rights
under applicable laws.

 

(iv)        Each
Grantor shall promptly notify the Administrative Agent if it knows or has reason to know that any patent, trademark or copyright
owned by such Grantor that is material to the conduct of its business could be reasonably expected to become abandoned, lost or
dedicated to the public (other than at the end of its statutory term), or of any adverse legal determination (including the institution
of, or any such adverse determination in, any proceeding in the United States Patent and Trademark Office, United States Copyright
Office or any court or similar office of any country, other than office actions issued in the ordinary course of prosecution) of
which such Grantor has notice regarding such Grantor’s ownership of any such patent, trademark or copyright, its right to
register the same, or to keep and maintain the same.

 

(v)         In
no event shall any Grantor, either itself or through any agent, employee, licensee or designee, file an application for any patent,
trademark or registered copyright (or for the registration of any trademark or copyright) with the United States Patent and Trademark
Office, United States Copyright Office or any office or agency in any political subdivision of the United States or in any other
country or any political subdivision thereof, unless it promptly (and in any event within thirty (30) days of the date of such
filing) informs the Administrative Agent thereof, and, upon the request of the Administrative Agent, each Grantor shall promptly
execute and deliver any and all agreements, instruments, documents and papers as the Administrative Agent may reasonably request
to evidence the Administrative Agent’s security interest in such patent, trademark or copyright (including, but not limited
to, a Copyright Security Agreement in substantially the form attached hereto as Exhibit A, a Patent Security Agreement in substantially
the form attached hereto as Exhibit B, and a Trademark Security Agreement in substantially the form attached hereto as Exhibit
C, as applicable (collectively, “Intellectual Property Security Agreements”), and each Grantor hereby appoints
the Administrative Agent as its attorney-in-fact to execute and file such writings for the foregoing purposes, all acts of such
attorney being hereby ratified and confirmed; such power, being coupled with an interest, is irrevocable during the term of this
Agreement.

 

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(vi)        Each
Grantor will take all reasonably necessary steps that are consistent with standard practice to maintain each application relating
to the patents, trademarks and/or copyrights (and to obtain the relevant grant or registration) that are owned by such Grantor
and material to the conduct of such Grantor’s business and to maintain each issued patent and each registration of the trademarks
and copyrights that are owned by such Grantor and material to the conduct of such Grantor’s business, including timely filings
of applications for renewal, affidavits of use, affidavits of incontestability and payment of maintenance fees, and, if such Grantor
deems that it is advisable in its reasonable business judgment, to initiate opposition, interference and cancellation proceedings
against third parties.

 

(vii)       In
the event that any Grantor has reason to believe that any Collateral consisting of a patent, trademark or copyright owned by such
Grantor and material to the conduct of such Grantor’s business has been or is, to the knowledge of such Grantor, about to
be infringed, misappropriated or diluted by a third party, such Grantor promptly shall notify the Administrative Agent and shall,
if such Grantor determines that it is advisable in its reasonable business judgment, promptly sue for infringement, misappropriation
or dilution and to recover any and all damages for such infringement, misappropriation and/or dilution, and take such other actions
as are appropriate under the circumstances to protect such Collateral.

 

(viii)      Upon
and during the continuation of an Event of Default, at the request of the Administrative Agent, each Grantor shall use its commercially
reasonable efforts to obtain all requisite consents or approvals by the licensor of each License to effect the assignment of all
of such Grantor’s right, title and interest thereunder (if lawfully assignable) to the Administrative Agent or its designee
to the extent such right, title and interest has not previously been assigned.

 

(c)          Covenants
Regarding Pledged Capital Stock and Subsidiaries. Each Grantor covenants and agrees that it will not, without the prior written
consent of the Administrative Agent, (i) vote or take any action with respect to the Pledged Capital Stock which would constitute
a Default or an Event of Default, (ii) consent to the issuance of any additional Capital Stock in any Subsidiary of such Grantor
to any Person other than such Grantor, (iii) consent to any amendment, supplement, waiver, or other modification of any term,
condition, or provision of the articles or certificate of incorporation, bylaws, partnership certificate, limited liability company
certificate, partnership agreement, limited liability company agreement, or other organizational or governing document of any Subsidiary
of such Grantor in any manner materially adverse to any Loan Party or any of their respective Subsidiaries or to the Administrative
Agent or any Lender, (iv) cause, permit or allow any of the Pledged Capital Stock or any asset of any Restricted Subsidiary
of such Grantor to be leased, sold, conveyed, pledged, hypothecated, transferred or otherwise encumbered or disposed of, or (v) cause,
permit or allow any Subsidiary of such Grantor to be dissolved or liquidated or to acquire, be acquired by, merged or consolidated
into or with any other Person, in each case under the foregoing clauses (ii)–(v), except as permitted under the terms of
the Credit Agreement.

 

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5.          Loan
Document Terms. Each Grantor shall at all times comply with the covenants and other obligations, including, without limitation,
the Obligations, applicable to it under the Credit Agreement and each other Loan Document.

 

6.          Representations
and Warranties. Each Grantor represents and warrants to the Secured Parties that:

 

(a)          such
Grantor is the legal and beneficial owner of the Collateral pledged by it hereunder;

 

(b)          the
execution, delivery, and performance of this Agreement (i) will not result in a breach of any of the terms or provisions of, or
constitute a default under its articles or certificate of incorporation, bylaws, partnership certificate, limited liability company
certificate, partnership agreement, limited liability company agreement, or other organizational or governing document as presently
in effect, or any applicable law, or result in the termination or cancellation of or any default under any material indenture,
License, mortgage, deed of trust, deed to secure debt or other agreement or instrument to which such Grantor is a party or by which
any of such Grantor’s property is bound, (ii) does not require any consent or approval of, registration or filing with, or
any action by, any Governmental Authority, except those as have been obtained or made and are in full force and effect, and (iii)
will not violate any Requirements of Law applicable to such Grantor or any judgment, order or ruling of any Governmental Authority;

 

(c)          such
Grantor has taken all necessary legal action to authorize the execution and delivery of this Agreement, and this Agreement, when
executed and delivered, will be the valid and binding obligation of such Grantor enforceable in accordance with its terms, subject
to the limitations on enforceability under bankruptcy, moratorium, reorganization, insolvency and similar laws affecting the enforceability
of creditors rights generally and limitations on the availability of equitable remedies imposed by the application of general equity
principles;

 

(d)          the
Security Interest in the Collateral granted hereunder shall constitute, upon the completion of all necessary filings or notices
in proper public offices or the taking of any necessary possessions or similar acts, a perfected first priority security interest
in the Collateral, subject only to Permitted Liens and to the extent that a first priority security interest can be granted and
perfected by such a filing or notice or the taking of such acts and the execution and delivery of this Agreement;

 

(e)          all
Pledged Capital Stock has been duly authorized and validly issued, and constitutes one hundred percent (100%) of the Capital Stock
owned by such Grantor in the issuer of such Capital Stock;

 

(f)          such
Grantor has the unencumbered right and power to pledge the Pledged Capital Stock as provided herein;

 

(g)          the
information set forth in Schedule 1 hereto relating to the Pledged Capital Stock is true, correct and complete in all respects
as of the date hereof and as of the date of any supplement thereto provided in accordance with this Agreement;

 

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(h)          none
of the Pledged Capital Stock consisting of partnership or limited liability company interests that is issued by any Grantor or
any of its Subsidiaries (i) is dealt in or traded on a securities exchange or in a securities market, (ii) by its terms expressly
provides that it is a security governed by Article 8 of the Uniform Commercial Code, (iii) is an investment company security, (iv)
is held in a Securities Account or (v) constitutes a Security or a Financial Asset.

 

7.          Location
of Chief Executive Office, FEIN, Organizational Number and Name Change. Each Grantor further represents and warrants that on
the date hereof its jurisdiction of organization, its chief executive office and the locations of all of its material records concerning
its Collateral, and its Federal Employer Identification Number and organizational number, if any, are as set forth on Schedule
2 attached hereto.

 

Each Grantor hereby
covenants and agrees that it shall not keep any of such records at any other address not listed on Schedule 2 unless written
notice thereof is given to the Administrative Agent, at least ten (10) days prior to the effective date of any new address for
the keeping of such records and such Grantor has taken all action deemed reasonably necessary by the Administrative Agent to cause
its Security Interest in the Collateral granted hereunder to be perfected with the priority required by this Agreement. Each Grantor
hereby covenants and agrees that it shall not change its name, identity, corporate structure or organizational number or state
of incorporation or organization except as permitted by Section 7.3(c) of the Credit Agreement.

 

8.          Collateral
Not Fixtures. The parties intend that the Collateral shall remain personal property irrespective of the manner of its attachment
or affixation to realty.

 

9.          Risk
of Loss, Sale of Collateral. Any and all injury to, or loss or destruction of, the Collateral shall be at the risk of the Grantors,
and shall not release the Grantors from their obligations hereunder. Except as permitted under the Credit Agreement, each Grantor
agrees not to sell, transfer, assign, dispose of, mortgage, grant a security interest in, or encumber any of the Collateral in
any manner. Each Grantor agrees that the Administrative Agent, on behalf of the Secured Parties, may, but shall in no event be
obligated to, insure any of the Collateral in such form and amount as the Administrative Agent, on behalf of the Secured Parties,
reasonably may deem necessary if such Grantor fails to obtain insurance as required by the Credit Agreement, and that the Administrative
Agent, on behalf of the Secured Parties, may, if such Grantor fails to do so as required by the Credit Agreement, pay or discharge
any taxes or Liens (other than Permitted Liens) on any of the Collateral, and such Grantor agrees to promptly pay any such sum
so expended by the Administrative Agent with interest at the rate applicable to Eurodollar Borrowings at such time, and such sums
and interest shall be deemed to be a part of the Secured Obligations secured by the Collateral under the terms of this Agreement.

 

10.         Application
of Distributions. Upon the occurrence and during the continuation of an Event of Default, the Administrative Agent is hereby
granted full irrevocable power and authority to hold, use and apply all cash and non-cash dividends and distributions issued in
connection with the Pledged Capital Stock, together with all interest earned thereon, in partial payment of the Secured Obligations
and may convert any such non-cash distributions to cash and apply the proceeds thereof as well as any cash distributions (a) in
partial payment of the Secured Obligations and (b) in payment of charges or expenses incurred by the Secured Parties, or any
of them, to which they are entitled pursuant to the Credit Agreement, in connection with any and all things which the Secured Parties,
or any of them, may do or cause to be done in accordance with this Agreement; provided, that nothing in this Section 10
shall prevent the Borrowers from making Tax Distributions permitted in accordance with the Credit Agreement.

 

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11.         Additional
Collateral Securities.  Subject to the limitations in Section 2 of this Agreement, in the event that, during the
term of this Agreement:

 

(a)          any
reclassification, readjustment, or other change is declared or made with respect to any of the Pledged Capital Stock (including,
without limitation, any certificate representing a distribution in connection with any increase or reduction of capital, reclassification,
merger, consolidation, sale of assets, combination of interests, spinoff, split-off or otherwise), or any new certificated Capital
Stock is received by any Grantor, by virtue of its being or having been an owner of any Collateral or otherwise, all new, substituted
and additional Capital Stock issued by reason of any such change and received by any Grantor shall be pledged to the Administrative
Agent, on behalf of the Secured Parties, together with any necessary endorsement or assignments endorsed in blank by such Grantor,
and a revised Schedule 1 which shall replace the then existing Schedule 1 to this Agreement and shall thereupon constitute
Collateral to be subject to the Liens of the Administrative Agent, on behalf of the Secured Parties, as Collateral under the terms
of this Agreement;

 

(b)          any
subscriptions, warrants, appreciation rights or any other rights or options or any other security, whether as an addition to, substitution
for, or in exchange for any Pledged Capital Stock, or otherwise, shall be issued in connection with any of the Pledged Capital
Stock (except as permitted under the Credit Agreement), all new interests or other securities acquired through such subscriptions,
warrants, appreciation rights, rights or options by any Grantor shall be pledged to the Administrative Agent, on behalf of the
Secured Parties, and shall thereupon constitute Pledged Capital Stock, to be encumbered by the Administrative Agent, on behalf
of the Secured Parties, as Collateral under the terms of this Agreement; and

 

(c)          any
distribution payable in securities or property other than cash, or other distribution in connection with a partial or total liquidation
or dissolution or in connection with a reduction of capital, is received by any Grantor, by virtue of its being or having been
an owner of any Pledged Capital Stock, such Grantor shall receive such payment or distribution in trust, for the benefit of the
Secured Parties, shall segregate same from such Grantor’s other property and shall deliver it to the Administrative Agent
in the exact form received, with any necessary endorsement or assignments duly executed in blank, to be encumbered by the Administrative
Agent, on behalf of the Secured Parties, as Collateral hereunder.

 

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12.         Remedies.

 

(a)          Upon
the occurrence and during the continuance of an Event of Default, the Administrative Agent, on behalf of the Secured Parties, shall
have such rights and remedies as are set forth in the Credit Agreement and herein, all the rights, powers and privileges of a secured
party under the UCC or the Uniform Commercial Code of any other applicable jurisdiction, and all other rights and remedies available
to the Administrative Agent, on behalf of any Secured Party, at law or in equity (including the right to file documentation evidencing
the assignment of any Collateral constituting patents, trademarks, trademark applications, copyrights, internet domain names or
similar assets or rights to the Administrative Agent with the United States Patent and Trademark Office, the United States Copyright
Office, or any other governmental or non-governmental agency, organization or entity). Each Grantor covenants and agrees that any
notification of intended disposition of any Collateral, if such notice is required by law, shall be deemed reasonably and properly
given if given in the manner provided for in Section 27 hereof at least ten (10) days prior to such disposition. Upon the
occurrence and during the continuance of an Event of Default, the Administrative Agent, on behalf of the Secured Parties, shall
have, to the extent permitted under applicable law, the right to the appointment of a receiver for the properties and assets of
any Grantor, and the Grantors hereby consent to such rights and such appointment and hereby waive any objection the Grantors may
have thereto or the right to have a bond or other security posted by the Administrative Agent, on behalf of the Secured Parties,
in connection therewith. The rights of the Administrative Agent shall be subject to its prior compliance with federal and state
laws and regulations, to the extent applicable to the exercise of such rights.

 

(b)          Upon
the occurrence and during the continuance of an Event of Default, the Administrative Agent, on behalf of the Secured Parties, may
sell, transfer or otherwise dispose of the Collateral or any interest or right therein or any part thereof, in one or more parcels,
at the same or different times, at a public or private sale, or may make any other commercially reasonable disposition of the Collateral
or any portion thereof.  The Secured Parties may purchase the Collateral or any portion thereof at any public (except in accordance
with Section 15) foreclosure sale. Each purchaser at any sale or other disposition of the Collateral shall hold the Collateral
sold absolutely free from any claim or right on the part of any Grantor, and, to the extent permitted by applicable law, the Grantors
hereby waive all rights of redemption, stay, valuation and appraisal the Grantors now have or may at any time in the future have
under any applicable law now existing or hereafter enacted. The proceeds of the sale or other disposition shall be applied to the
Secured Obligations in such order as set forth in the Credit Agreement. Any remaining proceeds shall be paid over to the Grantors
or others as provided by applicable law.

 

(c)          Upon
the occurrence and during the continuance of an Event of Default, the Administrative Agent, on behalf of the Secured Parties, may
proceed to perform any and all of the obligations of any Grantor contained in any of the Contracts, the Other Contracts or the
Leases and exercise any and all rights of any Grantor therein contained as fully as such Grantor itself could, in each case, to
the extent permitted by applicable law, such Contracts, Other Contracts, or Leases, or by agreement. Each Grantor hereby appoints
the Administrative Agent its attorney-in-fact, effective upon the occurrence and during the continuance of an Event of Default,
with power of substitution, to take such action, execute such documents, and perform such work, as the Administrative Agent may
deem reasonably appropriate in exercise of the rights and remedies granted the Administrative Agent herein. The powers herein granted
shall include, but not be limited to, powers to sue on the Contracts, the Other Contracts, or the Leases and to seek all governmental
approvals required for the operation of the Grantors’ business. The power of attorney granted herein is coupled with an interest
and shall be irrevocable until the indefeasible payment in full in cash of the Secured Obligations (other than unmatured contingent
obligations, Secured Hedging Obligations and Bank Product Obligations which are not by their terms required to be satisfied upon
the termination of the Credit Agreement) and cancellation of the Commitments under the Credit Agreement.

 

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(d)          Upon
the occurrence and during the continuance of an Event of Default, should any Grantor fail to perform or observe any covenant or
comply with any condition contained in any of the Contracts, the Other Contracts, the Leases, or the Licenses then the Administrative
Agent, on behalf of the Secured Parties, but without obligation to do so and without releasing such Grantor from its obligation
to do so, may, to the extent permitted by applicable law, such Contracts, Other Contracts, Leases or Licenses or by agreement,
perform such covenant or condition and, to the extent that the Administrative Agent shall incur any costs or pay any expenses in
connection therewith, including any costs or expenses of litigation associated therewith, such costs, expenses or payments shall
be included in the Secured Obligations and shall bear interest from the payment of such costs or expenses at the Default Rate (as
applied to Eurodollar Borrowings) but only for so long as such Event of Default is continuing and at all other times at the rate
applicable to Eurodollar Borrowings at such time. No Secured Party shall be obligated to perform or discharge any obligation of
any Grantor under any of the Contracts, the Other Contracts, the Leases, or Licenses and, except as may result from the gross negligence
or willful misconduct of any Secured Party or breach in bad faith by such Secured Party of any of its obligations under the Loan
Documents (in each case as determined by a final non-appealable judgment of a court of competent jurisdiction), each Grantor agrees
to indemnify and hold each Secured Party harmless against any and all liability, loss and damage which the Secured Parties, or
any of them, may incur under any of the Contracts, the Other Contracts, the Leases, or Licenses or under or by reason of this Agreement
or any other Loan Document, and any and all claims and demands whatsoever which may be asserted against any Grantor by reason of
an act of any of the Secured Parties under any of the terms of this Agreement or any other Loan Document or under the Contracts,
the Other Contracts, the Leases, or Licenses except to the extent such claims, losses or liabilities result from the gross negligence
or willful misconduct of any of the Secured Parties or breach in bad faith by such Secured Party of any of its obligations under
the Loan Documents (in each case as determined by a final non-appealable judgment of a court of competent jurisdiction).

 

(e)          Each
Grantor hereby acknowledges that the Secured Obligations arose out of a commercial transaction, and agrees that if an Event of
Default shall occur and be continuing, the Administrative Agent and the other Secured Parties shall have the right to an immediate
writ of possession without notice of a hearing, and hereby knowingly and intelligently waives, to the extent permitted by applicable
law, any and all rights it may have to any notice and posting of a bond by the Administrative Agent and the other Secured Parties,
or any of them, prior to seizure by the Administrative Agent or any of the other Secured Parties, or any of their transferees,
assigns or successors in interest, of the Collateral or any portion thereof.

 

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(f)          For
the purpose of enabling the Administrative Agent to exercise rights and remedies under this Section at such time as the Administrative
Agent shall be lawfully entitled to exercise such rights and remedies, each Grantor hereby grants to the Administrative Agent a
non-exclusive license (exercisable without payment of royalty or other compensation to such Grantor) to use, license or sub-license
any of the Collateral consisting of intellectual property now owned or hereafter acquired by such Grantor, and wherever the same
may be located and including in such license reasonable access to all media in which any of the licensed items may be recorded
or stored and to all computer software and programs used for the compilation or printout thereof. The use of such license by the
Administrative Agent may be exercised, at the option of the Administrative Agent, upon the occurrence and during the continuation
of an Event of Default; provided that any license, sub-license or other transaction entered into by the Administrative Agent
in accordance herewith shall be binding upon any Grantor notwithstanding any subsequent cure or waiver of an Event of Default.
Upon the indefeasible payment in full in cash of the Secured Obligations (other than unmatured contingent obligations, Secured
Hedging Obligations and Bank Product Obligations which are not by their terms required to be satisfied upon the termination of
the Credit Agreement) and cancellation of the Commitments under the Credit Agreement, this license granted to the Administrative
Agent shall automatically and immediately terminate.

 

13.         Administrative
Agent Attorney-in-Fact - Additional Powers. Each Grantor hereby further appoints the Administrative Agent as its attorney-in-fact,
provided that such appointment shall not be exercised until the occurrence of and during the continuance of an Event of Default,
with power of substitution, and with authority to collect any and all distributions of cash and other assets due such Grantor from
each issuer of Pledged Capital Stock, to receive, open and dispose of in an appropriate manner all mail addressed to such Grantor,
and to notify the postal authorities to change the address for delivery of mail addressed to such Grantor to such address as the
Administrative Agent may designate, to endorse the name of such Grantor on any note, acceptance, check, draft, money order or other
evidence of debt or of payment which may come into the possession of any Secured Party, and generally to do such other things and
acts in the name of such Grantor as are necessary or appropriate to protect or enforce the rights hereunder of the Secured Parties.
Each Grantor further authorizes the Administrative Agent, on behalf of the Secured Parties, effective upon the occurrence and during
the continuance of an Event of Default, to compromise and settle or to sell, assign or transfer or to ask, collect, receive or
issue any and all claims possessed by such Grantor all in the name of such Grantor. After deducting all expenses and charges (including
attorneys’ fees) of retaking, keeping, storing and selling the Collateral, the Administrative Agent shall apply the proceeds
in payment of any of the Secured Obligations in such order of application as is set forth in Section 2.11 of the Credit
Agreement, and, if a deficiency results after such application, each Grantor covenants and agrees to pay such deficiency to the
Secured Parties. The power of attorney granted herein is coupled with an interest and shall be irrevocable until the indefeasible
payment in full in cash and performance of the Secured Obligations (other than unmatured contingent obligations, Secured Hedging
Obligations and Bank Product Obligations which are not by their terms required to be satisfied upon the termination of the Credit
Agreement) and cancellation of the Commitments under the Credit Agreement.

 

14.         Termination
and Release. Upon the indefeasible payment in full in cash and the performance of the Secured Obligations (other than unmatured
contingent obligations, Secured Hedging Obligations and Bank Product Obligations which are not by their terms required to be satisfied
upon the termination of the Credit Agreement) and termination of the Commitments under the Credit Agreement, the Security Interests
in the Collateral granted hereunder shall automatically terminate and the Administrative Agent shall promptly take any actions
reasonably necessary or reasonably requested by the Grantors to terminate and release permanently the Security Interest in the
Collateral granted hereunder, and any financing statements filed in connection herewith, and to cause the Collateral and any instrument
of transfer previously delivered to the Administrative Agent to be delivered to the Grantors, all at the sole cost and expense
of the Grantors (including by filing releases of any Intellectual Property Security Agreements filed in the United States Patent
and Trademark Office, the United States Copyright Office or any similar office of any other country).

 

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15.         Disposition
of Pledged Capital Stock by the Administrative Agent. To the extent that the Pledged Capital Stock are not registered under
the various federal or state securities acts, the disposition thereof after the occurrence and during the continuance of an Event
of Default may be restricted to one or more private (instead of public) sales in view of the lack of such registration; each Grantor
understands that, upon such disposition, the Administrative Agent, on behalf of the Secured Parties, may approach only a restricted
number of potential purchasers and further understands that a sale under such circumstances may yield a lower price for the Pledged
Capital Stock than if the Pledged Capital Stock were registered pursuant to federal and state securities legislation and sold on
the open market.  The Pledged Capital Stock is not, as of the date of this Agreement, registered under the various federal
and state securities laws. Each Grantor, therefore, agrees that:

 

(a)          if
the Administrative Agent, on behalf of the Secured Parties, shall, pursuant to the terms of this Agreement, sell or cause the Pledged
Capital Stock or any portion thereof to be sold at a private sale, the Secured Parties shall have the right to rely upon the advice
and opinion of any national brokerage or investment firm having recognized expertise and experience in connection with shares or
obligations of companies or entities in the same or similar business as the issuing company or entity, which brokerage or investment
firm shall have reviewed financial data and other information available to the Secured Parties pertaining to the Grantors and their
Subsidiaries (but shall not be obligated to seek such advice, and the failure to do so shall not be considered in determining the
commercial reasonableness of the Administrative Agent’s action) as to the best manner in which to expose the Pledged Capital
Stock for sale and as to the best price reasonably obtainable at the private sale thereof; and

 

(b)          absent
manifest error, such reliance shall be conclusive evidence that the Secured Parties have handled such disposition in a commercially
reasonable manner.

 

16.         Rights
Cumulative. Each Grantor agrees that the rights of the Secured Parties, under this Agreement, the Credit Agreement, any other
Loan Document, any document executed in connection therewith, or any other contract or agreement now or hereafter in existence
among the Secured Parties, or any of them, and any Grantor shall be cumulative, and that the Secured Parties, or any of them, may
from time to time exercise such rights and such remedies as the Secured Parties, or any of them, may have thereunder and under
the laws of the United States and any state, as applicable, in the manner and at the time that the Secured Parties in their sole
discretion desire. Each Grantor further expressly agrees that the Secured Parties shall not in any event be under any obligation
to resort to any Collateral prior to exercising any other rights that the Secured Parties, or any of them, may have against any
Grantor or its property, or to resort to any other collateral for the Secured Obligations prior to the exercise of remedies hereunder
nor shall the rights and remedies of the Secured Parties be conditional or contingent on any attempt of the Secured Parties to
exercise any of its or their rights under any other documents executed in connection herewith against such party or against any
other Person.

 

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17.         Responsibilities
of Secured Parties.

 

(a)          None
of the Secured Parties shall in any way be responsible for any failure to do any or all of the things for which rights, interests,
power and authority are herein granted. The Secured Parties shall be responsible only for the application of such cash or other
property as it actually receives under the terms hereof and the exercise of ordinary care in the custody of any Collateral in its
possession; provided, however, that the failure of the Administrative Agent to do any of the things or exercise any
of the rights, interests, powers and authorities hereunder shall not be construed to be a waiver of any such rights, interests,
powers and authorities.

 

(b)          Upon
the occurrence and during the continuance of an Event of Default, the Administrative Agent shall receive, to the fullest extent
permitted by applicable law, all rights necessary or desirable to obtain, use or sell the Pledged Capital Stock, and to exercise
all remedies available to it under this Agreement, the Loan Documents, the UCC or other applicable law.

 

18.         Grantors’
Obligations Absolute.

 

(a)          The
obligations of the Grantors under this Agreement shall be direct and immediate and not be conditional or contingent upon the pursuit
of any other remedies against the Grantors, or any of them, or any other Person, nor against other security or Liens available
to any Secured Party or its or their respective successors, assigns or agents. The Grantors waive any right to require that an
action be brought against any other Person or to require that any Secured Party resort to any security or to any balance of any
deposit account or credit on the books of any Lender in favor of any other Person or to require resort to rights or remedies hereunder
prior to the exercise of any other rights or remedies of the Secured Parties in connection with the Loans.

 

(b)          The
obligations of the Grantors hereunder shall remain in full force and effect without regard to, and shall not be impaired by: (i) any
bankruptcy, insolvency, reorganization, arrangements, readjustment, composition, liquidation or the like of any Grantor or any
issuer of the Collateral; (ii) any exercise or non-exercise or any waiver by the Secured Parties of any rights, remedy, power
or privilege under or in respect of the Secured Obligations, this Agreement, the Credit Agreement, or any other document executed
in connection therewith, or any security for any of the Secured Obligations (other than this Agreement); or (iii) any amendment
to or modification of the Secured Obligations, this Agreement, the Credit Agreement or any other document executed in connection
therewith or any security for any of the Secured Obligations (other than this Agreement), whether or not the Grantors shall have
notice or knowledge of any of the foregoing, but nothing contained herein shall be deemed to authorize the amendment of any such
documents to which any Grantor is a party without such Grantor’s written agreement.

 

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19.         Voting
Rights. Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent, on behalf of the Secured
Parties, may exercise all voting rights and all other ownership or consensual rights of, or with respect to, the Pledged Capital
Stock, but under no circumstances is the Administrative Agent obligated to exercise such rights. Each Grantor hereby appoints the
Administrative Agent as such Grantor’s true and lawful attorney-in-fact and irrevocable proxy to vote the Pledged Capital
Stock in any manner the Administrative Agent deems advisable, consistent with the provisions of the Credit Agreement, for or against
all matters submitted or which may be submitted to a vote of the holders of the Capital Stock in such Person; provided,
however, that, until such occurrence of an Event of Default, and at all times thereafter when no Event of Default is continuing,
each Grantor shall retain exclusively all voting rights to its Pledged Capital Stock.

 

20.         Registration
of Assignment. The Grantors shall cause the assignment granted hereunder in the Pledged Capital Stock of any Subsidiary to
be duly entered into the share register, if any, of such Subsidiary. The Grantors shall ensure that none of such Subsidiaries shall
cause, suffer or permit to occur any transfer of record of the Pledged Capital Stock or any interest therein except in accordance
with the Credit Agreement. Upon receipt of written notice by the Administrative Agent that an Event of Default has occurred and
is continuing and that all or any part of the Pledged Capital Stock of a Subsidiary or any interest therein have been sold, assigned
or otherwise disposed of by the Administrative Agent in accordance with the terms hereof, and identifying the interests so assigned,
the Grantors shall take such actions that are reasonably necessary to cause such Pledged Capital Stock to be re-registered as appropriate
to duly reflect of record such transfers.

 

21.         Security
Interest Absolute. All rights of the Secured Parties and all security interests and all obligations of the Grantors hereunder
shall be, subject to applicable law, absolute and unconditional irrespective of: (a) any lack of validity or enforceability
of the Credit Agreement, the Notes, or any other Loan Document; (b) any change in the time, manner or place of payment of,
or any other term in respect of, all or any of the Secured Obligations, or any other amendment or waiver of or consent to any departure
from the Credit Agreement, the Notes, or any other Loan Document; (c) any increase in, addition to, exchange or release of,
or non-perfection of any Lien on or security interest in any other collateral or any release of, amendment of, waiver of, consent
to or departure from any security document or guaranty, for all or any of the Secured Obligations; or (d) the absence of any
action on the part of the Secured Parties to obtain payment or performance of the Secured Obligations from any other loan party.

 

22.         Changes
in Applicable Law. The parties acknowledge their intent that, upon the occurrence and during the continuation of an Event of
Default, the Administrative Agent shall receive, to the fullest extent permitted by applicable law, all rights necessary or desirable
to obtain, use or sell the Collateral and to exercise all remedies available to it under this Agreement, the UCC as in effect in
any applicable jurisdiction, or other applicable law. The parties further acknowledge and agree that, in the event of changes in
law occurring subsequent to the date hereof that affect in any manner the Administrative Agent’s rights of access to, or
use or sale of, the Collateral, or the procedures necessary to enable the Administrative Agent to obtain such rights of access,
use or sale, the Administrative Agent and the Grantors shall amend this Agreement in such manner as the Administrative Agent shall
reasonably request in order to provide the Administrative Agent such rights to the greatest extent possible consistent with this
Agreement on the date hereof.

 

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23.         Amendments
and Waivers. No amendment, modification, waiver, transfer or renewal, extension, assignment or termination of this Agreement
or of the Credit Agreement or of any other Loan Document, or of any instrument or document executed and delivered by any Grantor
or any other obligor to the Secured Parties, nor additional Loans made by the Secured Parties, to any Grantor, nor the taking of
further security, nor the retaking or re-delivery or release of the Collateral to any Grantor or any other collateral or guaranty
by the Secured Parties, nor any lack of validity or enforceability of any Loan Document or any term thereof nor any other act of
the Secured Parties, shall release the Grantors from any Secured Obligation, except a release or discharge executed in writing
by the Administrative Agent in accordance with the Credit Agreement with respect to such Secured Obligation or upon payment in
full in cash and the performance of all Secured Obligations (other than unmatured contingent obligations, Secured Hedging Obligations
and Bank Product Obligations which are not by their terms required to be satisfied upon the termination of the Credit Agreement)
and termination of the Commitments. None of the Secured Parties shall by any act, delay, omission or otherwise, be deemed to have
waived any of its or their rights or remedies hereunder, unless such waiver is in writing and signed by the Administrative Agent
or one or more of the Administrative Agent or the Lenders in accordance with the Credit Agreement and then only to the extent therein
set forth. A waiver by the Secured Parties of any right or remedy on any occasion shall not be construed as a bar to the exercise
of any such right or remedy which any such Person would otherwise have had on any other occasion.

 

24.         New
Subsidiaries. To the extent required by Section 5.11 of the Credit Agreement, each new Restricted Subsidiary of any
Loan Party (whether by acquisition, creation or designation) may be required to enter into this Agreement by executing and delivering
in favor of the Administrative Agent an instrument in the form of the Pledge and Security Agreement Supplement attached hereto
and made a part hereof as Annex 1 (the “Pledge and Security Agreement Supplement”). Upon the execution
and delivery of the Pledge and Security Agreement Supplement by such new Restricted Subsidiary, such Restricted Subsidiary shall
become a Grantor hereunder with the same force and effect as if originally named as a Grantor herein. The execution and delivery
of any Pledge and Security Agreement Supplement shall not require the consent of any Grantor hereunder. The rights and obligations
of each Grantor hereunder shall remain in full force and effect notwithstanding the addition of any new Grantor hereunder.

 

25.         Assignment.
Each Grantor agrees that this Agreement and rights of the Secured Parties hereunder may in the discretion of such Secured Party
be assigned in whole or in part by such Secured Party in connection with any permitted assignment of the Credit Agreement or the
indebtedness evidenced thereby. The Administrative Agent may also appoint sub-Administrative Agents in accordance with the terms
of the Credit Agreement. Each Grantor agrees that the rights of any and all assignees shall be independent of any claims such Grantor
may have against the assignor or assignors. In the event this Agreement is so assigned by any of the Secured Parties, the terms
“Administrative Agent,” “Secured Parties,” and “Secured Party” wherever used herein shall be
deemed to refer to and include any such assignee or assignees, as appropriate.

 

26.         Successors
and Assigns. This Agreement shall apply to and bind the respective successors and permitted assigns of the Grantors and inure
to the benefit of the respective successors and assigns of the Secured Parties.

 

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27.         Notices.
All notices and other communications required or permitted hereunder shall be in writing and shall be given in a manner prescribed
in Section 11.1 of the Credit Agreement.

 

28.         Governing
Law; Binding Agreement. The provisions of this Agreement shall be construed and interpreted, and all rights and obligations
of the parties hereto determined, in accordance with the laws of the State of New York, without regard to conflicts of law principles.
This Agreement, together with all documents referred to herein, constitutes the entire Agreement among the Grantors and the Secured
Parties, or any of them, with respect to the matters addressed herein, and may not be modified except by a writing executed and
delivered by the parties hereto.

 

29.         WAIVER
OF JURY TRIAL. THE PARTIES HERETO WAIVE ANY RIGHT TO A TRIAL BY JURY IN ANY PROCEEDING ARISING OUT OF THIS AGREEMENT.

 

30.         Miscellaneous.

 

(a)          This
Agreement is a Loan Document. This Agreement may be executed in any number of counterparts and by different parties on separate
counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together,
shall constitute but one and the same Agreement. Delivery of an executed counterpart of this Agreement by telefacsimile or other
electronic method of transmission shall be equally as effective as delivery of an original executed counterpart of this Agreement.
Any party delivering an executed counterpart of this Agreement by telefacsimile or other electronic method of transmission also
shall deliver an original executed counterpart of this Agreement but the failure to deliver an original executed counterpart shall
not affect the validity, enforceability, and binding effect of this Agreement.

 

(b)          This
Agreement shall supersede any prior agreement or understanding between the parties (other than the Credit Agreement or other Loan
Documents) as to the subject matter hereof. Any matter not specifically addressed herein shall be governed by the Credit Agreement
and to the extent of any inconsistencies between this Agreement and the Credit Agreement, the Credit Agreement shall govern.

 

(c)          Any
provision of this Agreement which is prohibited or unenforceable shall be ineffective to the extent of such prohibition or unenforceability
without invalidating the remaining provisions hereof in that jurisdiction or affecting the validity or enforceability of such provision
in any other jurisdiction. Each provision of this Agreement shall be severable from every other provision of this Agreement for
the purpose of determining the legal enforceability of any specific provision.

 

(d)          Headings
and numbers have been set forth herein for convenience only. Unless the contrary is compelled by the context, everything contained
in each Section applies equally to this entire Agreement.

 

(e)          Neither
this Agreement nor any uncertainty or ambiguity herein shall be construed against any party, whether under any rule of construction
or otherwise. This Agreement has been reviewed by all parties and shall be construed and interpreted according to the ordinary
meaning of the words used so as to accomplish fairly the purposes and intentions of all parties hereto.

 

    	21

    	 

    

 

(f)          The
pronouns used herein shall include, when appropriate, either gender and both singular and plural, and the grammatical construction
of sentences shall conform thereto.

 

(g)          Unless
the context of this Agreement clearly requires otherwise, references to the plural include the singular, references to the singular
include the plural, the terms “includes” and “including” are not limiting, and the term “or”
has, except where otherwise indicated, the inclusive meaning represented by the phrase “and/or”. The words “hereof”,
“herein”, “hereby”, “hereunder”, and similar terms in this Agreement refer to this Agreement
as a whole and not to any particular provision of this Agreement. Section, subsection, clause, schedule, and exhibit references
herein are to this Agreement unless otherwise specified. Any reference in this Agreement to any agreement, instrument, or document
shall include all alterations, amendments, changes, extensions, modifications, renewals, replacements, substitutions, joinders,
and supplements, thereto and thereof, as applicable (subject to any restrictions on such alterations, amendments, changes, extensions,
modifications, renewals, replacements, substitutions, joinders, and supplements set forth 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. Any reference herein to the satisfaction, repayment,
or payment in full of the Secured Obligations shall mean the indefeasible payment in full in cash and the performance of the Secured
Obligations (other than unmatured contingent obligations, Secured Hedging Obligations and Bank Product Obligations which are not
by their terms required to be satisfied upon the termination of the Credit Agreement) and cancellation of the Commitments under
the Credit Agreement. Any reference herein to any Person shall be construed to include such Person’s successors and permitted
assigns. Any requirement of a writing contained herein shall be satisfied by the transmission of a Record.

 

(h)          All
of the annexes, schedules and exhibits attached to this Agreement shall be deemed incorporated herein by reference.

 

(i)          Time
is of the essence with regard to the Grantors’ performance of their obligations hereunder.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK]

 

    	22

    	 

    

 

IN WITNESS WHEREOF,
the undersigned have hereunto set their hands by and through their duly authorized representatives as of the day and year first
written above.

 

GRANTORS:

 

	 	RLJ ENTERTAINMENT, INC.
	 	 	 
	 	By:	/s/ H. Van Sinclair
	 	 	Name:	H. Van Sinclair
	 	 	Title:	President and Chief Executive Officer

 

	 	RLJ ACQUISITION, INC.
	 	 	 
	 	By:	/s/ H. Van Sinclair
	 	 	Name:	H. Van Sinclair
	 	 	Title:	President and Chief Executive Officer

 

	 	RLJ MERGER SUB I, INC.
	 	 	 
	 	By:	/s/ H. Van Sinclair
	 	 	Name:	H. Van Sinclair
	 	 	Title:	President and Chief Executive Officer

 

	 	RLJ MERGER SUB II, INC.
	 	 	 
	 	By:	/s/ H. Van Sinclair
	 	 	Name:	H. Van Sinclair
	 	 	Title:	President and Chief Executive Officer

 

PLEDGE AND SECURITY AGREEMENT

Signature Page

 

    	 

    	 

    

 

	 	ACORN MEDIA GROUP, INC.
	 	 
	 	By:	/s/ Miguel Penella
	 	 	Name:	Miguel Penella
	 	 	Title:	Chief Executive Officer

 

	 	IMAGE ENTERTAINMENT, INC.
	 	 
	 	By:	/s/ John Avagliano
	 	 	Name:	John Avagliano
	 	 	Title:	Chief Operating Officer and Chief Financial Officer

 

	 	IMAGE/MADACY HOME
 ENTERTAINMENT, LLC
	 	 
	 	By:	/s/ John Avagliano
	 	 	Name:	John Avagliano
	 	 	Title:	Chief Financial Officer

 

PLEDGE AND SECURITY AGREEMENT

Signature Page

 

    	 

    	 

    

 

	ADMINISTRATIVE AGENT:	SUNTRUST BANK, as Administrative Agent,
 on behalf of the Secured Parties
	 	 
	 	By:	/s/ Kevin Curtin
	 	 	Name:	Kevin Curtin
	 	 	Title:	Director

 

PLEDGE AND SECURITY AGREEMENT

Signature Page

 

    	 

    	 

    

 

ACKNOWLEDGMENT

 

STATE OF _____________ )

                                               )

COUNTY OF ___________ )

 

This instrument was acknowledged before
me this _____ day of __________ 20__, by ______________, as __________of ____________________, on behalf of such corporation.

 

	{Seal}	 
	 	Notary Public in and for the State of______________
	My commission expires:___________________	 

 

STATE OF _____________ )

                                               )

COUNTY OF ___________ )

 

This instrument was acknowledged before
me this _____ day of __________ 20__, by _______________, as _____________ of SunTrust Bank, on behalf of such corporation.

 

	{Seal}	 
	 	Notary Public in and for the State of______________
	 	My commission expires:_______________________

 

PLEDGE AND SECURITY AGREEMENT

Signature Page

 

    	 

    	 

    

 

SCHEDULE 1

 

to

 

Pledge
and Security Agreement

 

Description of Pledged Capital Stock
Owned by Grantors

  

 

	Grantor	Issuer	Type & Class of Ownership of Interest	Percentage of Total Capital Stock Issued & Outstanding	Units of Capital Stock Pledged	Certificated or
  Uncertificated	Certificate Number, if any
	RLJ Entertainment, Inc.  	RLJ Acquisition, Inc.	Common Stock	100%	100 shares of common stock	Certificated	2012-01
	Image Entertainment, Inc.	Common Stock	100%	100 shares of common stock	Certificated	2012-01
	RLJ Acquisition, Inc.	Acorn Media Group, Inc.	Common Stock	100%	1,045,846 shares of common stock	Certificated	38
	Image Entertainment, Inc.	Image/Madacy Home Entertainment, LLC	Limited Liability Company Interest	100%	N/A	Certificated	1,4

 

 

  

 

    	 

    	 

    

 

SCHEDULE 2

 

to

 

Pledge
and Security Agreement

 

Chief Executive Office, FEIN, Organizational
Number

 

	Grantor:	 
	 	 
	Jurisdiction of Organization:	 
	 	 
	Chief Executive Office:	 
	 	 
	Location of Records:	 
	 	 
	FEIN:	 
	 	 
	Organizational Number:	 

 

    	2

    	 

    

 

SCHEDULE 3

 

to

 

Pledge
and Security Agreement

 

Commercial Tort
Claims

 

 

None. 

 

    	3

    	 

    

 

EXHIBIT A

 

to

 

Pledge
and Security Agreement

 

Copyright Security Agreement

 

    	A-1

    	 

    

 

COPYRIGHT SECURITY AGREEMENT

 

(____________________)

 

THIS COPYRIGHT
SECURITY AGREEMENT (“Agreement”), dated as of [__________ __, 20__], is between ____________________ (the
“Grantor”), and SUNTRUST BANK (together with its successors and assigns, the “Administrative
Agent”), acting in its capacity as Administrative Agent pursuant to that certain Credit Agreement dated as of
October 3, 2012 (as the same may be amended, restated, supplemented, or otherwise modified from time to time,
the “Credit Agreement”), by and among the Grantor and certain of its Affiliates, the Administrative Agent,
and the Lenders.

 

RECITALS:

 

A         The
Grantor, certain of Grantor’s Affiliates, and the Administrative Agent on behalf of the Secured Parties have entered
into that certain Pledge and Security Agreement, dated as of October 3, 2012 (as the same may be amended,
restated, supplemented, or otherwise modified from time to time, the “Security Agreement”; all terms
defined in the Security Agreement, wherever used herein, shall have the same meanings herein as are prescribed by the
Security Agreement or if not defined therein, the Credit Agreement).

 

B         Pursuant
to the terms of the Security Agreement, the Grantor has granted to the Administrative Agent on behalf of the Secured Parties a
Lien and security interest in all General Intangibles of the Grantor, including, without limitation, all of the Grantor’s
right, title, and interest in, to and under all now owned and hereafter acquired Copyright Collateral (as defined below).

 

NOW, THEREFORE, for
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and to further secure the payment
and performance of the Secured Obligations, the Grantor hereby grants to the Administrative Agent for the benefit of the Secured
Parties a Lien and continuing security interest in all of the 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 presently existing or hereafter created or acquired:

 

(1)         each
registered copyright, each registration of a copyright (“Copyright Registration”), and each application for
registration of a copyright (“Copyright Application”), including, without limitation, each copyright, Copyright
Registration, and Copyright Application referred to in Schedule 1 annexed hereto;

 

(2)         except
to the extent excluded under the Security Agreement, each copyright license pursuant to which the Grantor is granted a license
under any copyright registration of a third party (including, without limitation, each such licenses referred to in Schedule 1
annexed hereto); and

 

    	 

    	 

    

 

(3)         all
products and Proceeds of the foregoing, including, without limitation, any claim by the Grantor against third parties for past,
present, or future infringement or breach (as applicable) of any of the foregoing.

 

The Lien and security
interest granted pursuant to this Agreement is granted in conjunction with the Security Interest in the Collateral granted to the
Administrative Agent for the benefit of the Secured Parties pursuant to the Security Agreement.

 

THE SECURITY INTEREST
IN THE COPYRIGHT COLLATERAL BEING GRANTED HEREUNDER SHALL NOT BE CONSTRUED AS A CURRENT ASSIGNMENT BUT, RATHER AS A SECURITY INTEREST
THAT PROVIDES THE ADMINISTRATIVE AGENT AND THE SECURED PARTIES SUCH RIGHTS AS ARE PROVIDED TO HOLDERS OF SECURITY INTERESTS UNDER
APPLICABLE LAW.

 

The Grantor hereby
acknowledges and affirms that the rights and remedies of the Administrative Agent on behalf of the Secured Parties with respect
to the Liens and security interests in the Copyright Collateral made and 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. To the extent there
are any inconsistencies between this Agreement and the Security Agreement, the Security Agreement shall govern.

 

To the extent applicable,
the parties hereto authorize and request that the Copyright Office of the United States (and, as applicable, the corresponding
entities or agencies in any applicable foreign countries) record this security interest in the Copyright Collateral.

 

Upon the indefeasible
payment in full in cash and the performance of the Secured Obligations (other than unmatured contingent obligations, Secured Hedging
Obligations and Bank Product Obligations which are not by their terms required to be satisfied upon the termination of the Credit
Agreement) and cancellation of the Commitments under the Credit Agreement, (1) the Lien and security interest granted hereunder
shall automatically terminate hereunder and of record, (2) the Copyright Collateral shall be released from the security interest
created hereby and all right, title and interest therein, thereto and thereunder shall automatically revert to the Grantor; (3)
this Agreement and all obligations (other than those expressly stated to survive such termination) of the Administrative Agent,
the Secured Parties, and the Grantor hereunder shall terminate, all and in each case, without delivery of any instrument or performance
of any act by any party; and (4) the Administrative Agent shall promptly take any actions reasonably necessary to effect and memorialize
the termination and release of the Lien and security interest in the Copyright Collateral, including by filing releases of such
Lien and security interest in the United States Copyright Office, and if applicable, other similar offices and agencies of other
countries.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK]

 

    	2

    	 

    

 

IN WITNESS WHEREOF,
the Grantor has caused this Agreement to be duly executed by its duly authorized representative as of the date first written above.

 

	GRANTOR:	____________________, as the Grantor

 

	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

	ADMINISTRATIVE AGENT:	SUNTRUST BANK, as Administrative Agent

 

	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

COPYRIGHT SECURITY AGREEMENT

Signature Page

 

    	 

    	 

    

 

Schedule 1

 

to

 

Copyright Security Agreement

 

COPYRIGHTS

  

	Owner of
 Record	 	Country of
 Registration	 	 	Copyright	 	 	Application or 
 Registration
 No.	 	 	Registration or 
 Filing Date	 	 	Expiration
 Date	 	 	Title	 
	 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 

 

COPYRIGHT LICENSES

 

	Name of Agreement	 	Copyright	 	Date of Agreement	 
	 	 	 	 	 	 

 

    	 

    	 

    

 

EXHIBIT B

 

to

 

Pledge
and Security Agreement

 

Patent Security Agreement

 

    	B-1

    	 

    

 

PATENT SECURITY AGREEMENT

 

(____________________)

 

THIS PATENT SECURITY
AGREEMENT (“Agreement”), dated as of [__________ __, 20__], is between ____________________ (the “Grantor”),
and SUNTRUST BANK (together with its successors and assigns, the “Administrative Agent”), acting in its capacity
as Administrative Agent pursuant to that certain Credit Agreement dated as of October 3, 2012, (as the same may be amended,
restated, supplemented, or otherwise modified from time to time, the “Credit Agreement”), by and among the Grantor
and certain of its Affiliates, the Administrative Agent, and the Lenders.

 

RECITALS:

 

A         The
Grantor, certain of Grantor’s Affiliates, and the Administrative Agent on behalf of the Secured Parties have entered into
that certain Pledge and Security Agreement, dated as of October 3, 2012 (as the same may be amended, restated, supplemented, or
otherwise modified from time to time, the “Security Agreement”; all terms defined in the Security Agreement,
wherever used herein, shall have the same meanings herein as are prescribed by the Security Agreement or if not defined therein,
the Credit Agreement).

 

B         Pursuant
to the terms of the Security Agreement, the Grantor has granted to the Administrative Agent on behalf of the Secured Parties a
Lien and security interest in all General Intangibles of the Grantor including, without limitation, all of the Grantor’s
right, title, and interest in, to and under all now owned and hereafter acquired Patent Collateral (as defined below).

 

NOW, THEREFORE, for
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and to further secure the payment
and performance of the Secured Obligations, the Grantor hereby grants to the Administrative Agent, for the benefit of the Secured
Parties, a Lien and continuing security interest in all of the 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 presently existing or hereafter created or acquired:

 

(1)         each
patent and each application for a patent (“Patent Application”), including, without limitation, each patent
and Patent Application referred to in Schedule 1 annexed hereto, together with any reissues, continuations, divisions, modifications,
substitutions or extensions thereof;

 

(2)         except
to the extent excluded under the Security Agreement, each patent license pursuant to which the Grantor is granted a license under
any patent of a third party; and

 

(3)         all
products and Proceeds of the foregoing, including, without limitation, any claim by the Grantor against third parties for past,
present, or future infringement or breach (as applicable) of any of the foregoing.

 

    	 

    	 

    

 

The Lien and security
interest granted pursuant to this Agreement is granted in conjunction with the Security Interest in the Collateral granted to the
Administrative Agent for the benefit of the Secured Parties pursuant to the Security Agreement.

 

THE SECURITY INTEREST
IN THE PATENT COLLATERAL BEING GRANTED HEREUNDER SHALL NOT BE CONSTRUED AS A CURRENT ASSIGNMENT BUT, RATHER AS A SECURITY INTEREST
THAT PROVIDES THE ADMINISTRATIVE AGENT AND THE SECURED PARTIES SUCH RIGHTS AS ARE PROVIDED TO HOLDERS OF SECURITY INTERESTS UNDER
APPLICABLE LAW.

 

The Grantor hereby
acknowledges and affirms that the rights and remedies of the Administrative Agent on behalf of the Secured Parties with respect
to the Liens and security interests in the Patent Collateral made and 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. To the extent there are any
inconsistencies between this Agreement and the Security Agreement, the Security Agreement shall govern.

 

To the extent applicable,
the parties hereto authorize and request that the Commissioner of Patents and Trademarks of the United States (and, as applicable,
the corresponding entities or agencies in any applicable foreign countries) record this security interest in the Patent Collateral.

 

Upon the indefeasible
payment in full in cash and the performance of the Secured Obligations (other than unmatured contingent obligations, Secured Hedging
Obligations and Bank Product Obligations which are not by their terms required to be satisfied upon the termination of the Credit
Agreement) and cancellation of the Commitments under the Credit Agreement, (1) the Lien and security interest granted hereunder
shall automatically terminate hereunder and of record, (2) the Patent Collateral shall be released from the security interest created
hereby and all right, title and interest therein, thereto and thereunder shall automatically revert to the Grantor; (3) this Agreement
and all obligations (other than those expressly stated to survive such termination) of the Administrative Agent, the Secured Parties,
and the Grantor hereunder shall terminate, all and in each case, without delivery of any instrument or performance of any act by
any party; and (4) the Administrative Agent shall promptly take any actions reasonably necessary to effect and memorialize the
termination and release of the Lien and security interest in the Patent Collateral, including by filing releases of such Lien and
security interest in the United States Patent and Trademark Office, and if applicable, other similar offices and agencies of other
countries.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK]

 

    	 

    	 

    

 

IN WITNESS WHEREOF,
the Grantor has caused this Agreement to be duly executed by its duly authorized representative as of the date first written above.

 

	GRANTOR:	____________________, as the Grantor

 

	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

	ADMINISTRATIVE AGENT:	SUNTRUST BANK, as Administrative Agent

 

	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

PATENT SECURITY AGREEMENT

Signature Page

 

    	 

    	 

    

 

Schedule 1

 

to

 

Patent Security Agreement

 

PATENTS

 

	Owner of Record	 	Country of
 Origin	 	 	Patent
 Identification	 	 	Application or 
 Registration
 No.	 	 	Registration or 
 Filing Date	 	 	Issue Date
 (if known)	 	 	Expiration
 Date	 
		 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 

 

PATENT LICENSES

 

	Name of Agreement	 	Patent	 	Date of Agreement
	 	 	 	 	 

 

    	 

    	 

    

 

EXHIBIT C

 

to

 

Pledge
and Security Agreement

 

Trademark Security Agreement

 

    	C-1

    	 

    

 

TRADEMARK SECURITY AGREEMENT

 

(____________________)

 

THIS TRADEMARK SECURITY
AGREEMENT (“Agreement”), dated as of [_________ __, 20__], is between ____________________ (the “Grantor”),
and SUNTRUST BANK (together with its successors and assigns, the “Administrative Agent”), acting in its capacity
as Administrative Agent pursuant to that certain Credit Agreement dated as of October 3, 2012 (as the same may be amended, restated,
supplemented, or otherwise modified from time to time, the “Credit Agreement”), by and among the Grantor and
certain of its Affiliates, the Administrative Agent, and the Lenders.

 

RECITALS:

 

A         The
Grantor, certain of Grantor’s Affiliates, and the Administrative Agent on behalf of the Secured Parties have entered into
that certain Pledge and Security Agreement, dated as of October 3, 2012 (as the same may be amended, restated, supplemented, or
otherwise modified from time to time, the “Security Agreement”; all terms defined in the Security Agreement,
wherever used herein, shall have the same meanings herein as are prescribed by the Security Agreement or if not defined therein,
the Credit Agreement).

 

B         Pursuant
to the terms of the Security Agreement, the Grantor has granted to the Administrative Agent on behalf of the Secured Parties a
Lien and security interest in all General Intangibles of the Grantor, including, without limitation, all of the Grantor’s
right, title, and interest in, to and under all now owned and hereafter acquired Trademark Collateral (as defined below).

 

NOW, THEREFORE, for
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and to further secure the payment
and performance of the Secured Obligations, the Grantor hereby grants to the Administrative Agent for the benefit of the Secured
Parties a Lien and continuing security interest in all of the 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 presently existing or hereafter created or acquired:

 

(1)         each
trademark, trademark registration (“Trademark Registration”) and trademark application (“Trademark
Application”), including, without limitation, each trademark, Trademark Registration and Trademark Application referred
to in Schedule 1 annexed hereto, together with the goodwill of the business symbolized thereby; and

 

(2)         except
to the extent excluded under the Security Agreement, each trademark license pursuant to which the Grantor is granted a license
under any trademark registration of a third party; and

 

    	 

    	 

    

 

(3)         all
products and proceeds of the foregoing, including, without limitation, any claim by the Grantor against third parties for past,
present or future (a) infringement, dilution or breach (as applicable) of any of the foregoing; or (b) injury to the goodwill associated
with any of the foregoing.

 

The Lien and security
interest granted pursuant to this Agreement is granted in conjunction with the Security Interest in the Collateral granted to the
Administrative Agent for the benefit of the Secured Parties pursuant to the Security Agreement.

 

THE SECURITY INTEREST
IN THE TRADEMARK COLLATERAL BEING GRANTED HEREUNDER SHALL NOT BE CONSTRUED AS A CURRENT ASSIGNMENT BUT, RATHER AS A SECURITY INTEREST
THAT PROVIDES THE ADMINISTRATIVE AGENT AND THE SECURED PARTIES SUCH RIGHTS AS ARE PROVIDED TO HOLDERS OF SECURITY INTERESTS UNDER
APPLICABLE LAW.

 

The Grantor hereby
acknowledges and affirms that the rights and remedies of the Administrative Agent on behalf of the Secured Parties with respect
to the Liens and security interests in the Trademark Collateral made and 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. To the extent there
are any inconsistencies between this Agreement and the Security Agreement, the Security Agreement shall govern.

 

To the extent applicable,
the parties hereto authorize and request that the Commissioner of Patents and Trademarks of the United States (and, as applicable,
the corresponding entities or agencies in any applicable foreign countries) record this security interest in the Trademark Collateral.

 

Upon the indefeasible
payment in full in cash and the performance of the Secured Obligations (other than unmatured contingent obligations, Secured Hedging
Obligations and Bank Product Obligations which are not by their terms required to be satisfied upon the termination of the Credit
Agreement) and cancellation of the Commitments under the Credit Agreement, the (1) Lien and security interest granted hereunder
shall automatically terminate hereunder and of record, (2) the Trademark Collateral shall be released from the security interest
created hereby and all right, title and interest therein, thereto and thereunder shall automatically revert to the Grantor; (3)
this Agreement and all obligations (other than those expressly stated to survive such termination) of the Administrative Agent,
the Secured Parties, and the Grantor hereunder shall terminate, all and in each case, without delivery of any instrument or performance
of any act by any party; and (4) the Administrative Agent shall promptly take any actions reasonably necessary to effect and memorialize
the termination and release of the Lien and security interest in the Trademark Collateral, including by filing releases of such
Lien and security interest in the United States Patent and Trademark Office, and if applicable, other similar offices and agencies
of other countries.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK]

 

    	 

    	 

    

 

IN WITNESS WHEREOF,
the Grantor has caused this Agreement to be duly executed by its duly authorized representative as of the date first above written.

 

	GRANTOR:	____________________, as the Grantor

 

	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

	ADMINISTRATIVE AGENT:	SUNTRUST BANK, as Administrative Agent

 

	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

TRADEMARK SECURITY AGREEMENT

Signature Page

 

    	 

    	 

    

 

Annex 1 to Security Agreement

Form of Supplement

 

Schedule 1

 

to

 

Trademark Security Agreement

 

FEDERAL TRADEMARKS

 

	Owner of

 Record	 	Country of 
Registration	 	 	Trademark	 	 	Application or 
Registration 
No.	 	 	Filing 
Date	 	 	Expiration 
Date	 	 	Goods	 
		 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 

 

STATE TRADEMARKS

 

	Owner of 
Record	 	Trademark	 	 	State	 	 	Serial No.	 	 	Filing Date	 
		 	 		 	 			 	 	 		 	 	 		 

 

TRADEMARK LICENSES

 

	Agreement	 	Parties	 	Date of Agreement
	 	 	 	 	 

 

    	 

    	 

    

 

ANNEX 1

 

to

 

Pledge
and Security Agreement

 

Form of Pledge and Security Agreement
Supplement

 

    	2

    	 

    

 

FORM OF PLEDGE AND SECURITY AGREEMENT
SUPPLEMENT

 

Supplement No. ___
(this “Supplement”) dated as of _______________, 20__, to the Pledge and Security Agreement dated as of October
3, 2012 (as amended, restated, supplemented or otherwise modified from time to time, the “Security Agreement”)
by and among each of the “Grantors” party from time to time thereto (each of the foregoing, a “Grantor”,
and, collectively, the “Grantors”) and SunTrust Bank, in its capacity as Administrative Agent for the Secured
Parties (together with its successors and assigns, the “Administrative Agent”).

 

WITNESSETH:

 

WHEREAS, the
Grantors, the Administrative Agent, and the Lenders have entered into that certain Credit Agreement dated as of October 3, 2012
(as the same may have been or may be hereafter amended, modified, supplemented or restated from time to time, the “Credit
Agreement”; all terms defined in the Security Agreement, wherever used herein, shall have the same meanings herein as
are prescribed by the Security Agreement or if not defined therein, the Credit Agreement) pursuant to which, among other things,
the Lenders have agreed to make or continue to make Loans to the Borrowers, subject to the terms and conditions set forth therein;
and

 

WHEREAS, pursuant
to Section 5.11 of the Credit Agreement, each new Restricted Subsidiary of any Loan Party (whether by acquisition, creation
or designation) is required to execute and deliver certain Loan Documents, including, without limitation, the Security Agreement,
and the execution of the Security Agreement by the undersigned new Grantor (the “New Grantor”) may be accomplished
by the execution of this Supplement in favor of the Administrative Agent for the benefit of the Secured Parties.

 

NOW, THEREFORE,
for and in consideration of the above premises and the mutual covenants and agreements contained herein and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, New Grantor agrees as follows:

 

1.          In
accordance with Section 24 of the Security Agreement, the New Grantor, by its signature below, becomes a “Grantor”
under the Security Agreement with the same force and effect as if originally named therein as a “Grantor” and the New
Grantor hereby (a) agrees to all of the terms and provisions of the Security Agreement applicable to it as a “Grantor”
thereunder and (b) represents and warrants that the representations and warranties made by it as a “Grantor” thereunder
are true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations
and warranties that already are qualified or modified by materiality in the text thereof) with respect to such Grantor and its
assets and Restricted Subsidiaries, as applicable, on and as of the date hereof. In furtherance of the foregoing, the New Grantor,
as security for the payment and performance in full of the Secured Obligations, does hereby grant, assign, and pledge to the Administrative
Agent, for the benefit of the Secured Parties, a security interest in and security title to all Collateral of the New Grantor to
secure the full and prompt payment of the Secured Obligations. Attached hereto are supplemental Schedules 1, 2 and
3 setting forth the information with respect to the New Grantor required pursuant to Sections 2, 6 and 7
of the Security Agreement. Each reference to a “Grantor” in the Security Agreement shall be deemed to include the New
Grantor. The Security Agreement is incorporated herein by reference.

 

    	3

    	 

    

 

2.          The
New Grantor represents and warrants to the Administrative Agent and the Secured Parties that this Supplement has been duly executed
and delivered by the New Grantor and constitutes its legal, valid and binding obligation, enforceable against it in accordance
with its terms, except as enforceability thereof may be limited by bankruptcy, insolvency, reorganization, fraudulent transfer,
moratorium or other similar laws affecting creditors’ rights generally and general principles of equity (regardless of whether
such enforceability is considered in a proceeding at law or in equity).

 

3.          This
Supplement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such separate
counterparts shall together constitute but one and the same instrument. Any signatures delivered by a party by facsimile transmission
or by e-mail transmission of an electronic file in Adobe Corporation’s Portable Document Format or PDF file shall be deemed
an original signature hereto.

 

4.          Except
as expressly supplemented hereby, the Security Agreement shall remain in full force and effect.

 

5.          The
provisions of this Supplement shall be construed and interpreted, and all rights and obligations of the parties hereto determined,
in accordance with the laws of the State of New York.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK]

 

    	4

    	 

    

 

IN WITNESS WHEREOF,
the New Grantor and the Administrative Agent have duly executed this Supplement to the Security Agreement as of the day and year
first above written.

 

	NEW GRANTOR:	____________________, as the New Grantor

 

	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

	ADMINISTRATIVE AGENT:	SUNTRUST BANK, as the Administrative Agent

 

	 	By:	 
	 	Name:
	 	Title:

 

    	 

    	 

    

 

SCHEDULE 1

to

Pledge and Security Agreement Supplement

 

Description of Pledged Capital Stock
Owned by New Grantor

 

	Issuer	 	Type & 
Class of 
Ownership 
of Interest	 	 	Percentage of 
Total Capital 
Stock Issued 
& Outstanding	 	 	Units of Capital 
Stock Pledged	 	 	Certificated or 
Uncertificated	 	 	Certificate 
Number, if 
any	 
		 	 		 	 	 		 	 	 		 	 	 		 	 	 		 

 

    	- 6 -

    	 

    

 

SCHEDULE 2

to

Pledge and Security Agreement Supplement

 

Chief Executive Office, FEIN, Organizational
Number of New Grantor

 

	New Grantor:	 
	 	 
	Jurisdiction of Organization:	 
	 	 
	Chief Executive Office:	 
	 	 
	Location of Records:	 
	 	 
	FEIN:	 
	 	 
	Organizational Number:	 

 

    	- 7 -

    	 

    

 

SCHEDULE 3

to

Pledge and Security Agreement Supplement

 

Commercial Tort Claims

 

    	- 8 -Exhibit 10.3

 

AMENDED AND RESTATED

REGISTRATION RIGHTS AGREEMENT

 

                THIS
AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of October 3, 2012, is
made and entered into by and among RLJ Acquisition, Inc., a Nevada corporation (“RLJ Acquisition”), RLJ
Entertainment, Inc., a Nevada corporation (the “Company”), JH Partners, LLC, as the JH Representative
(the “JH Representative”), JH Partners Evergreen Fund, LP (“JH I”), JH Investment
Partners III, LP (“JH II”) and JH Investment Partners GP Fund III, LLC (“JH III”
and, together with JH I and JH II, the “JH Parties”), Drawbridge Special Opportunities Fund LP (“Fortress”),
Miguel Penella (“Penella”), the shareholders of Acorn Media Group, Inc. listed on the attached Exhibit
A (collectively, the “Acorn Shareholders”), Peter Edwards, as the Acorn Representative (the “Acorn
Representative”), RLJ SPAC Acquisition, LLC, a Delaware limited liability company (the “Sponsor”),
William S. Cohen (“Cohen”) and Morris Goldfarb (“Goldfarb” and, together with
Cohen, the Sponsor, Penella, the Acorn Shareholders, Fortress, the JH Parties, and any person or entity who hereafter becomes a
party to this Agreement pursuant to Section 5.2 of this Agreement, a “Holder” and collectively
the “Holders”).

 

RECITALS

 

                WHEREAS,
RLJ Acquisition entered into a Subscription Agreement (the “Founder Shares Purchase Agreement”), dated
as of November 18, 2010, with each of the Sponsor, Cohen and Goldfarb, pursuant to which the Sponsor, Cohen and Goldfarb purchased
an aggregate of 3,593,750 shares (the “Founder Shares”) of RLJ Acquisition’s common stock, par
value $0.001 per share (the “RLJ Acquisition Common Stock”); and

 

                WHEREAS,
RLJ Acquisition and the Sponsor entered into a Subscription Agreement, dated as of December 2, 2010, pursuant to which the Sponsor
purchased warrants entitling the Sponsor to purchase an aggregate of 6,666,667 shares of RLJ Acquisition Common Stock in a private
placement transaction that occurred simultaneously with the closing of RLJ Acquisition’s initial public offering (collectively,
the “Sponsor Warrants”); and

 

                WHEREAS,
on February 22, 2011, RLJ Acquisition and the Sponsor, Cohen and Goldfarb (collectively, the “Founders”)
entered into a registration rights agreement (the “Original Agreement”) pursuant to which RLJ Acquisition
granted the Founders certain registration rights with respect to certain securities of RLJ Acquisition; and

 

                WHEREAS,
RLJ Acquisition entered into an Agreement and Plan of Merger with Image Entertainment, Inc. on April 2, 2012 (the “Merger
Agreement”), pursuant to which the Founder Shares outstanding on the date of the closing of the transactions contemplated
by the Merger Agreement (the “Merger Transaction”) will be converted into an equal number of shares of
the Company’s common stock, par value $0.001 per share (the “Common Stock”) and the Sponsor Warrants
outstanding on the date of the closing of the transactions contemplated by the Merger Agreement will be converted into warrants
to purchase an equal number of shares of Common Stock; and

 

    	 

    	 

    

 

                WHEREAS,
on February 28, 2011, RLJ Acquisition and Continental Stock Transfer & Trust Company, as Warrant Agent entered into a Warrant
Agreement, as such Warrant Agreement has been assigned, assumed and amended pursuant to that certain Assignment, Assumption and
Amendment Agreement, dated as of the date hereof, among RLJ Acquisition, the Company and Continental Stock Transfer & Trust
Company (as so assigned, assumed and amended, the “Warrant Agreement”)”, pursuant to which, among
other things, Fortress shall receive certain warrants to purchase Common Stock in connection with the closing of the Merger Transaction;
and

 

                WHEREAS,
RLJ Acquisition entered into a Preferred Stock Purchase Agreement with, among others, the JH Parties on April 2, 2012, as amended
(the “Preferred Stock Purchase Agreement”), pursuant to which RLJ Acquisition agreed to grant to the
JH Parties certain registration rights with respect to the shares of Common Stock to be received by the JH Parties pursuant to
the Merger Agreement and the Preferred Stock Purchase Agreement; and

 

                WHEREAS,
RLJ Acquisition entered into a Stock Purchase Agreement with, among others, the shareholders of Acorn Media Group, Inc. on April
2, 2012, as amended (the “Acorn Purchase Agreement”), pursuant to which RLJ Acquisition agreed to grant
to the shareholders of Acorn Media Group, Inc. certain registration rights with respect to the shares of Common Stock to be received
by them pursuant to the Acorn Purchase Agreement; and

 

                WHEREAS,
RLJ Acquisition, the Company, the JH Parties and the Holders desire to amend and restate the Original Agreement in its entirety
in the form set forth below, pursuant to which the Company shall grant the Holders and the JH Parties certain registration rights
with respect to certain securities of the Company, as set forth in this Agreement.

 

                NOW,
THEREFORE, in consideration of the representations, covenants and agreements contained herein, and certain other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally
bound, hereby agree as follows:

 

ARTICLE I

DEFINITIONS

 

                1.1
Definitions. The terms defined in this Article I shall, for all purposes of this Agreement, have the respective
meanings set forth below:

 

                “Acorn
Purchase Agreement” shall have the meaning given in the Recitals hereto.

 

                “Acorn
Representative” shall have the meaning given in the Preamble.

 

                “Acorn
Shareholders” shall have the meaning given in the Preamble.

 

    	2

    	 

    

 

                “Adverse
Disclosure” shall mean any public disclosure of material non-public information, which disclosure, in the good faith
judgment of the Chief Executive Officer or principal financial officer of the Company, after consultation with counsel to the Company,
(i) would be required to be made in any Registration Statement or Prospectus in order for the applicable Registration Statement
or Prospectus not to contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
contained therein (in the case of any prospectus and any preliminary prospectus, in the light of the circumstances under which
they were made) not misleading, (ii) would not be required to be made at such time if the Registration Statement were not
being filed, and (iii) the Company has a bona fide business purpose for not making such information public.

 

                “Agreement”
shall have the meaning given in the Preamble.

 

                “Board”
shall mean the Board of Directors of the Company.

 

                “Cohen”
shall have the meaning given in the Preamble.

 

                “Commission”
shall mean the Securities and Exchange Commission.

 

                “Common
Stock” shall have the meaning given in the Recitals hereto.

 

                “Company”
shall have the meaning given in the Preamble.

 

                “Demand
Registration” shall have the meaning given in subsection 2.1.1.

 

                “Demanding
Holder” shall have the meaning given in subsection 2.1.1.

 

                “Exchange
Act” shall mean the Securities Exchange Act of 1934, as it may be amended from time to time.

 

                “Form S-1”
shall have the meaning given in subsection 2.1.1.

 

                “Form S-3”
shall have the meaning given in subsection 2.3.

 

                “Fortress”
shall have the meaning given in the Preamble.

 

                “Founder
Shares” shall have the meaning given in the Recitals hereto.

 

                “Founder
Shares Purchase Agreement” shall have the meaning given in the Recitals hereto.

 

                “Founder
Lock-up Period” shall mean, with respect to the Founder Shares, the period ending on the earlier to occur of (A) one
year after the completion of the transactions contemplated by the Merger Agreement or earlier if, subsequent to the completion
of the transactions contemplated by the Merger Agreement, the last sales price of the Common Stock equals or exceeds $12.00 per
share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for one period of 20 trading
days within any 30-trading day period commencing at least 150 days after completion of the transactions contemplated by the
Merger Agreement or (B) the consummation by the Company of any subsequent liquidation, merger, stock exchange or other similar
transaction, which results in all of the Company’s stockholders having the right to exchange their shares of the Common Stock
for cash, securities or other property.

 

    	3

    	 

    

 

                “Founders”
shall have the meaning given in the Recitals hereto.

 

                “Goldfarb”
shall have the meaning given in the Preamble.

 

                “Holders”
shall have the meaning given in the Preamble.

 

                “JH
I” shall have the meaning given in the Preamble.

 

                “JH
II” shall have the meaning given in the Preamble.

 

                “JH
III” shall have the meaning given in the Preamble.

 

                “JH
Parties” shall have the meaning given in the Preamble.

 

                “JH
Representative” shall have the meaning given in the Preamble.

 

                “Maximum
Number of Securities” shall have the meaning given in subsection 2.1.4.

 

                “Merger
Agreement” shall have the meaning given in the Recitals hereto.

 

                “Merger
Date” shall mean the date of the consummation of the transactions contemplated by the Merger Agreement.

 

                “Merger
Transaction” shall have the meaning given in the Preamble.

 

                “Misstatement”
shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration
Statement or Prospectus or necessary to make the statements in a Registration Statement or Prospectus not misleading.

 

                “Original
Agreement” shall have the meaning given in the Recitals hereto.

 

                “Penella”
shall have the meaning given in the Preamble.

 

                “Piggyback
Registration” shall have the meaning given in Section 2.2.1.

 

                “Preferred
Stock Purchase Agreement” shall have the meaning given in the Recitals hereto.

 

    	4

    	 

    

 

                “Prospectus”
shall mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as
amended by any and all post-effective amendments and including all material incorporated by reference in such prospectus.

 

                “Registrable
Security” shall mean (a) the Founder Shares, (b) the Sponsor Warrants (including any shares of the Common
Stock issued or issuable upon the exercise of any such Sponsor Warrants), (c) any outstanding shares of the Common Stock (including
the shares of Common Stock issued to the JH Parties pursuant to the Merger Agreement and the Preferred Stock Purchase Agreement
and the Common Stock issued to Miguel Penella and the Acorn Shareholders pursuant to the Acorn Purchase Agreement) or any other
equity security (including the warrants to purchase shares of Common Stock issued to the JH Parties pursuant to the Preferred Stock
Purchase Agreement and the warrants issued to Miguel Penella and the Acorn Shareholders pursuant to the Acorn Purchase Agreement
and the warrants issued to Fortress pursuant to the Warrant Agreement, and including any shares of the Common Stock issued or issuable
upon the exercise of such warrants or any other equity security) held by a Holder as of the date of this Agreement, (d) any shares
of the Common Stock issued or issuable as payment of accrued interest on promissory notes issued by the Company to a JH Party as
of the date of this Agreement, (e) any equity securities (including the shares of the Common Stock issued or issuable upon
the exercise of any such equity security) of the Company issuable upon conversion of any working capital loans made to the Company
by a Holder, and (f) any other equity security of the Company issued or issuable with respect to any such share of the Common
Stock by way of a stock dividend or stock split or in connection with a combination of shares, recapitalization, merger, consolidation
or reorganization; provided, however, that, as to any particular Registrable Security, such securities shall cease
to be Registrable Securities when: (a) other than with respect to Registrable Securities held by either (x) an “affiliate”
(as that term is defined in Rule 144 promulgated under the Securities Act) of the Company or (y) the Sponsor, a Registration Statement
with respect to the sale of such securities shall have become effective under the Securities Act and such securities shall have
been sold, transferred, disposed of or exchanged in accordance with such Registration Statement; (b) such securities shall
have been otherwise transferred, new certificates for such securities not bearing a legend restricting further transfer shall have
been delivered by the Company and subsequent public distribution of such securities shall not require registration under the Securities
Act; (c) such securities shall have ceased to be outstanding; (d) such securities have been sold to, or through, a broker,
dealer or underwriter in a public distribution or other public securities transaction; or (e) other than with respect to securities
held by either (x) any “affiliate” (as that term is defined in Rule 144 promulgated under the Securities Act) of the
Company that is a Holder hereunder or (y) the Sponsor, such securities become eligible for resale pursuant to Rule 144 promulgated
under the Securities Act (assuming all warrants are exercised by “cashless exercise” as provided in the warrants),
as reasonably determined by the Company, upon the advice of counsel to the Company.

 

                “Registration”
shall mean a registration effected by preparing and filing a registration statement or similar document in compliance with the
requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such registration statement
becoming effective.

 

    	5

    	 

    

 

                “Registration
Expenses” shall mean the out-of-pocket expenses of a Registration, including, without limitation, the following:

 

                           (A) all
registration and filing fees (including fees with respect to filings required to be made with the Financial Industry Regulatory
Authority) and any securities exchange on which the Common Stock is then listed;

 

                           (B) fees
and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of counsel for the Underwriters
in connection with blue sky qualifications of Registrable Securities);

 

                           (C) printing,
messenger, telephone and delivery expenses;

 

                           (D) reasonable
fees and disbursements of counsel for the Company;

 

                           (E) reasonable
fees and disbursements of all independent registered public accountants of the Company incurred specifically in connection with
such Registration; and

 

                           (F) reasonable
fees and expenses of one (1) legal counsel selected by the majority-in-interest of the Demanding Holders initiating a Demand
Registration to be registered for offer and sale in the applicable Registration.

 

                “Registration
Statement” shall mean any registration statement that covers the Registrable Securities pursuant to the provisions
of this Agreement, including the Prospectus included in such registration statement, amendments (including post-effective amendments)
and supplements to such registration statement, and all exhibits to and all material incorporated by reference in such registration
statement.

 

                “Requesting
Holder” shall have the meaning given in subsection 2.1.1.

 

                “RLJ
Acquisition” shall have the meaning given in the Preamble.

 

                “RLJ
Acquisition Common Stock” shall have the meaning given in the Recitals hereto.

 

                “Securities
Act” shall mean the Securities Act of 1933, as amended from time to time.

 

                “Sponsor”
shall have the meaning given in the Recitals hereto.

 

                “Sponsor
Warrants” shall have the meaning given in the Recitals hereto.

 

                “Sponsor
Lock-up Period” shall mean, with respect to the Sponsor Warrants and any of the Common Stock issued or issuable upon
the exercise or conversion of such Sponsor Warrants, the period ending 30 days after the completion of the transactions contemplated
by the Merger Agreement.

 

    	6

    	 

    

 

                “Underwriter”
shall mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part
of such dealer’s market-making activities.

 

                “Underwritten
Registration” or “Underwritten Offering” shall mean a Registration in which securities
of the Company are sold to an Underwriter in a firm commitment underwriting for distribution to the public.

 

                “Warrant
Agreement” shall have the meaning given in the Preamble.

 

ARTICLE II

REGISTRATIONS

 

                2.1
Demand Registration.

 

                                2.1.1
Request for Registration. Subject to the provisions of subsection 2.1.4 and Section 2.4 hereof, at any
time and from time to time on or after the Merger Date, the Holders of (i) at least twenty-five percent (25%) of the then outstanding
number of Registrable Securities or (ii) Registrable Securities in an amount equal to or greater than ten million dollars $10,000,000
based on the closing sale price of the Common Stock on the business day immediately prior to the demand (the “Demanding
Holders”) may make a written demand for Registration of at least fifteen percent (15%) of the then outstanding number
of Registrable Securities, which written demand shall describe the amount and type of securities to be included in such Registration
and the intended method(s) of distribution thereof (such written demand a “Demand Registration”). The
Company shall, within ten (10) days of the Company’s receipt of the Demand Registration, notify, in writing, all other
Holders of Registrable Securities (or, in the case of any of the (x) JH Parties, the JH Representative, or (y) the Acorn Shareholders,
the Acorn Representative) of such demand, and each Holder of Registrable Securities who thereafter wishes to include all or a portion
of such Holder’s Registrable Securities in a Registration pursuant to a Demand Registration (each such Holder that includes
all or a portion of such Holder’s Registrable Securities in such Registration, a “Requesting Holder”)
shall so notify the Company, in writing, within five (5) days after the receipt by the Holder (or, in the case of any of the
(x) JH Parties, the JH Representative, or (y) the Acorn Shareholders, the Acorn Representative) of the notice from the Company.
Upon receipt by the Company of any such written notification from a Requesting Holder(s) to the Company, such Requesting Holder(s)
shall be entitled to have their Registrable Securities included in a Registration pursuant to a Demand Registration and the Company
shall effect, as soon thereafter as practicable, but not more than forty five (45) days immediately after the Company’s receipt
of the Demand Registration, the Registration of all Registrable Securities requested by the Demanding Holders and Requesting Holders
pursuant such the Demand Registration. Under no circumstances shall the Company be obligated to effect more than an aggregate of
three (3) Registrations pursuant to a Demand Registration under this subsection 2.1.1 with respect to any or all Registrable
Securities; provided, however, that a Registration shall not be counted for such purposes (i) unless a Form S-1 or
any similar long-form registration statement that may be available at such time (“Form S-1”) has become
effective and all of the Registrable Securities requested by the Requesting Holders to be registered on behalf of the Requesting
Holders in such Form S-1 Registration have been sold, in accordance with Section 3.1 of this Agreement and (ii) with
respect to (a) the JH Parties unless a JH Party is a Demanding Holder or a Requesting Holder or (b) the Acorn Shareholders unless
an Acorn Shareholder is a Demanding Holder or a Requesting Holder, or (c) with respect to the Sponsor, unless the Sponsor is a
Demanding Holder or a Requesting Holder. Notwithstanding anything herein to the contrary, no Holder (other than the Sponsor) shall
have the right to be a Demanding Holder hereunder until (x) with respect to any Demand Registration on Form S-1, the first anniversary
of the closing of the Merger Transaction or (y) with respect to any Demand Registration on Form S-3, if available, the nine month
anniversary of the closing of the Merger Transaction.

 

    	7

    	 

    

 

                                2.1.2
Effective Registration. Notwithstanding the provisions of subsection 2.1.1 above or any other part of this Agreement,
a Registration pursuant to a Demand Registration shall not count as a Registration unless and until (i) the Registration Statement
filed with the Commission with respect to a Registration pursuant to a Demand Registration has been declared effective by the Commission
and (ii) the Company has complied with all of its obligations under this Agreement with respect thereto; provided,
further, that if, after such Registration Statement has been declared effective, an offering of Registrable Securities in
a Registration pursuant to a Demand Registration is subsequently interfered with by any stop order or injunction of the Commission,
federal or state court or any other governmental agency the Registration Statement with respect to such Registration shall be deemed
not to have been declared effective, unless and until, (i) such stop order or injunction is removed, rescinded or otherwise
terminated, and (ii) a majority-in-interest of the Demanding Holders initiating such Demand Registration thereafter affirmatively
elect to continue with such Registration and accordingly notify the Company in writing, but in no event later than five (5) days,
of such election; provided, further, that the Company shall not be obligated or required to file another Registration
Statement until the Registration Statement that has been previously filed with respect to a Registration pursuant to a Demand Registration
becomes effective or is subsequently terminated.

 

                                2.1.3
Underwritten Offering. Subject to the provisions of subsection 2.1.4 and Section 2.4 hereof, if a majority-in-interest
of the Demanding Holders so advise the Company as part of their Demand Registration that the offering of the Registrable Securities
pursuant to such Demand Registration shall be in the form of an Underwritten Offering, then the right of such Demanding Holder
or Requesting Holder (if any) to include its Registrable Securities in such Registration shall be conditioned upon such Holder’s
participation in such Underwritten Offering and the inclusion of such Holder’s Registrable Securities in such Underwritten
Offering to the extent provided herein. All such Holders proposing to distribute their Registrable Securities through an Underwritten
Offering under this subsection 2.1.3 shall enter into an underwriting agreement in customary form with the Underwriter(s)
selected for such Underwritten Offering by the majority-in-interest of the Demanding Holders initiating the Demand Registration.

 

    	8

    	 

    

 

                                2.1.4
Reduction of Underwritten Offering. If the managing Underwriter or Underwriters in an Underwritten Registration pursuant
to a Demand Registration, in good faith, advises the Company, the Demanding Holders and the Requesting Holders (if any) (or, in
the case of any of the (x) JH Parties, the JH Representative, or (y) the Acorn Shareholders, the Acorn Representative) in writing
that the dollar amount or number of Registrable Securities that the Demanding Holders and the Requesting Holders (if any) desire
to sell, taken together with all other Common Stock or other equity securities that the Company desires to sell and the Common
Stock, if any, as to which a Registration has been requested pursuant to separate written contractual piggy-back registration rights
held by any other stockholders who desire to sell, exceeds the maximum dollar amount or maximum number of equity securities that
can be sold in the Underwritten Offering without adversely affecting the proposed offering price, the timing, the distribution
method, or the probability of success of such offering (such maximum dollar amount or maximum number of such securities, as applicable,
the “Maximum Number of Securities”), then the Company shall include in such Underwritten Offering, as
follows: (i) first, the Registrable Securities of the Demanding Holders and the Requesting Holders (if any) (pro rata based
on the number of Registrable Securities that each Demanding Holder and Requesting Holder (if any) has requested be included in
such Underwritten Registration and the aggregate number of Registrable Securities that the Demanding Holders and Requesting Holders
have requested be included in such Underwritten Registration (such proportion is referred to herein as “Pro Rata”))
that can be sold without exceeding the Maximum Number of Securities; (ii) second, to the extent that the Maximum Number of
Securities has not been reached under the foregoing clause (i), the Registrable Securities of Holders exercising their rights to
register their Registrable Securities pursuant to subsection 2.2.1 hereof, without exceeding the Maximum Number of Securities;
and (iii) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i) and
(ii), the Common Stock or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum
Number of Securities; and (iv) fourth, to the extent that the Maximum Number of Securities has not been reached under the
foregoing clauses (i), (ii) and (iii), the Common Stock or other equity securities of other persons or entities that the Company
is obligated to register in a Registration pursuant to separate written contractual arrangements with such persons and that can
be sold without exceeding the Maximum Number of Securities.

 

                                2.1.5
Demand Registration Withdrawal. A majority-in-interest of the Demanding Holders initiating a Demand Registration or a majority-in-interest
of the Requesting Holders (if any), pursuant to a Registration under subsection 2.1.1 shall have the right to withdraw from
a Registration pursuant to such Demand Registration for any or no reason whatsoever upon written notification to the Company and
the Underwriter or Underwriters (if any) of their intention to withdraw from such Registration prior to the effectiveness of the
Registration Statement filed with the Commission with respect to the Registration of their Registrable Securities pursuant to such
Demand Registration. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration
Expenses incurred in connection a Registration pursuant to a Demand Registration prior to its withdrawal under this subsection
2.1.5.

 

    	9

    	 

    

 

                2.2
Piggyback Registration.

 

                                2.2.1
Piggyback Rights. If, at any time on or after the date hereof, the Company proposes to file a Registration Statement under
the Securities Act with respect to an offering of equity securities, or securities or other obligations exercisable or exchangeable
for, or convertible into equity securities, for its own account or for the account of stockholders of the Company (or by the Company
and by the stockholders of the Company including, without limitation, pursuant to Section 2.1 hereof), other than a
Registration Statement (i) filed in connection with any employee stock option or other benefit plan, (ii) for an exchange
offer or offering of securities solely to the Company’s existing stockholders, (iii) for an offering of debt that is
convertible into equity securities of the Company or (iv) for a dividend reinvestment plan, then the Company shall give written
notice of such proposed filing to all of the Holders of Registrable Securities (or, in the case of any of the (x) JH Parties, to
the JH Representative, or (y) the Acorn Shareholders, to the Acorn Representative) as soon as practicable but not less than ten
(10) days before the anticipated filing date of such Registration Statement, which notice shall (A) describe the amount
and type of securities to be included in such offering, the intended method(s) of distribution, and the name of the proposed managing
Underwriter or Underwriters, if any, in such offering, and (B) offer to all of the Holders of Registrable Securities the opportunity
to register the sale of such number of Registrable Securities as such Holders may request in writing within five (5) days
after receipt of such written notice (such Registration a “Piggyback Registration”). The Company shall,
in good faith, cause such Registrable Securities to be included in such Piggyback Registration and shall use its reasonable best
efforts to cause the managing Underwriter or Underwriters of a proposed Underwritten Offering to permit the Registrable Securities
requested by the Holders pursuant to this subsection 2.2.1 to be included in a Piggyback Registration on the same terms
and conditions as any similar securities of the Company included in such Registration and to permit the sale or other disposition
of such Registrable Securities in accordance with the intended method(s) of distribution thereof. All such Holders proposing to
distribute their Registrable Securities through an Underwritten Offering under this subsection 2.2.1 shall enter into an
underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten Offering by the Company.

 

                                2.2.2
Reduction of Piggyback Registration. If the managing Underwriter or Underwriters in an Underwritten Registration that is
to be a Piggyback Registration, in good faith, advises the Company and the Holders of Registrable Securities participating in the
Piggyback Registration in writing that the dollar amount or number of the Common Stock that the Company desires to sell, taken
together with (i) the Common Stock, if any, as to which Registration has been demanded pursuant to separate written contractual
arrangements with persons or entities other than the Holders of Registrable Securities hereunder (ii) the Registrable Securities
as to which registration has been requested pursuant Section 2.2 hereof, and (iii) the Common Stock, if any, as to
which Registration has been requested pursuant to separate written contractual piggy-back registration rights of other stockholders
of the Company, exceeds the Maximum Number of Securities, then:

 

                                                (a) If
the Registration is undertaken for the Company’s account, the Company shall include in any such Registration (A) first,
the Common Stock or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number
of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause
(A), the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant to subsection
2.2.1 hereof, Pro Rata, which can be sold without exceeding the Maximum Number of Securities; and (C) third, to the extent
that the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B), the Common Stock, if any,
as to which Registration has been requested pursuant to written contractual piggy-back registration rights of other stockholders
of the Company, which can be sold without exceeding the Maximum Number of Securities;

 

    	10

    	 

    

 

                                               (b) If
the Registration is pursuant to a request by persons or entities other than the Holders of Registrable Securities, then the Company
shall include in any such Registration (A) first, the Common Stock or other equity securities, if any, of such requesting
persons or entities, other than the Holders of Registrable Securities, which can be sold without exceeding the Maximum Number of
Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause
(A), the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant to subsection
2.2.1, pro rata based on the number of Registrable Securities that each Holder has requested be included in such Underwritten
Registration and the aggregate number of Registrable Securities that the Holders have requested to be included in such Underwritten
Registration, which can be sold without exceeding the Maximum Number of Securities; (C) third, to the extent that the Maximum
Number of Securities has not been reached under the foregoing clauses (A) and (B), the Common Stock or other equity securities
that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities; and (D) fourth, to
the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A), (B) and (C), the Common
Stock or other equity securities for the account of other persons or entities that the Company is obligated to register pursuant
to separate written contractual arrangements with such persons or entities, which can be sold without exceeding the Maximum Number
of Securities.

 

2.2.3 Piggyback Registration Withdrawal.
Any Holder of Registrable Securities shall have the right to withdraw from a Piggyback Registration for any or no reason whatsoever
upon written notification to the Company and the Underwriter or Underwriters (if any) of his, her or its intention to withdraw
from such Piggyback Registration prior to the effectiveness of the Registration Statement filed with the Commission with respect
to such Piggyback Registration. The Company (whether on its own good faith determination or as the result of a request for withdrawal
by persons pursuant to separate written contractual obligations) may withdraw a Registration Statement filed with the Commission
in connection with a Piggyback Registration at any time prior to the effectiveness of such Registration Statement. Notwithstanding
anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection
with the Piggyback Registration prior to its withdrawal under this subsection 2.2.3.

 

2.2.4 Unlimited Piggyback
Registration Rights. For purposes of clarity, any Registration effected pursuant to Section 2.2 hereof shall not
be counted as a Registration pursuant to a Demand Registration effected under Section 2.1 hereof.

 

    	11

    	 

    

 

                2.3
Registrations on Form S-3. The Holders of Registrable Securities may at any time, and from time to time, request in
writing that the Company, pursuant to Rule 415 under the Securities Act (or any successor rule promulgated thereafter by the
Commission), register the resale of any or all of their Registrable Securities on Form S-3 or any similar short-form registration
statement that may be available at such time (“Form S-3”); provided, however, that
the Company shall not be obligated to effect such request through an Underwritten Offering. Within five (5) days of the Company’s
receipt of a written request from a Holder or Holders of Registrable Securities for a Registration on Form S-3, the Company shall
promptly give written notice of the proposed Registration on Form S-3 to all other Holders of Registrable Securities (or, in the
case of any of the (x) JH Parties, to the JH Representative, or (y) the Acorn Shareholders, to the Acorn Representative), and each
Holder of Registrable Securities who thereafter wishes to include all or a portion of such Holder’s Registrable Securities
in such Registration on Form S-3 shall so notify the Company, in writing, within ten (10) days after the receipt by the Holder
of the notice from the Company. As soon as practicable thereafter, but not more than twelve (12) days after the Company’s
initial receipt of such written request for a Registration on Form S-3, the Company shall register all or such portion of such
Holder’s Registrable Securities as are specified in such written request, together with all or such portion of Registrable
Securities of any other Holder or Holders joining in such request as are specified in the written notification given by such Holder
or Holders; provided, however, that the Company shall not be obligated to effect any such Registration pursuant to
this Section 2.3 if (i) a Form S-3 is not available for such offering; or (ii) the Holders of Registrable
Securities, together with the Holders of any other equity securities of the Company entitled to inclusion in such Registration,
propose to sell the Registrable Securities and such other equity securities (if any) at any aggregate price to the public of less
than $5,000,000. Notwithstanding anything herein to the contrary, no Holder (other than the Sponsor) shall have the right to be
a Demanding Holder hereunder until, with respect to any Demand Registration on Form S-3, if available, the nine month anniversary
of the closing of the Merger Transaction.

 

                2.4
Restrictions on Registration Rights. If (A) during the period starting with the date sixty (60) days prior to
the Company’s good faith estimate of the date of the filing of, and ending on a date one hundred and twenty (120) days
after the effective date of, a Company initiated Registration and provided that the Company has delivered written notice to the
Holders (or, in the case of any of the (x) JH Parties, to the JH Representative, or (y) the Acorn Shareholders, to the Acorn Representative)
prior to receipt of a Demand Registration pursuant to subsection 2.1.1 and it continues to actively employ, in good faith,
all reasonable efforts to cause the applicable Registration Statement to become effective; (B) the Holders have requested
an Underwritten Registration and the Company and the Holders are unable to obtain the commitment of underwriters to firmly underwrite
the offer; or (C) in the good faith judgment of the Board such Registration would be seriously detrimental to the Company
and the Board concludes as a result that it is essential to defer the filing of such Registration Statement at such time, then
in each case the Company shall furnish to such Holders (or, in the case of any of the (x) JH Parties, to the JH Representative,
or (y) the Acorn Shareholders, to the Acorn Representative) a certificate signed by the Chairman of the Board stating that in the
good faith judgment of the Board it would be seriously detrimental to the Company for such Registration Statement to be filed in
the near future and that it is therefore essential to defer the filing of such Registration Statement. In such event, the Company
shall have the right to defer such filing for a period of not more than thirty (30) days; provided, however,
that the Company shall not defer its obligation in this manner more than once in any 12 month period. Notwithstanding anything
to the contrary contained in this Agreement, no Registration shall be effected or permitted and no Registration Statement shall
become effective, with respect to any Registrable Securities held by any Holder, until after the expiration of the Founder Lock-Up
Period solely with respect to the Founder Shares held by the Founders or the Sponsor Lock-Up Period solely with respect to the
Registrable Securities held by the Holders other than the Founders, as the case may be.

 

    	12

    	 

    

 

ARTICLE III

COMPANY PROCEDURES

 

                3.1
General Procedures. If at any time on or after the date hereof the Company is required to effect the Registration of Registrable
Securities, the Company shall use its best efforts to effect such Registration to permit the sale of such Registrable Securities
in accordance with the intended plan of distribution thereof, and pursuant thereto the Company shall, as expeditiously as possible:

 

                                3.1.1
prepare and file with the Commission as soon as practicable a Registration Statement with respect to such Registrable Securities
and use its reasonable best efforts to cause such Registration Statement to become effective and remain effective until all Registrable
Securities covered by such Registration Statement have been sold;

 

                                3.1.2
prepare and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements
to the Prospectus, as may be requested by the Holders or any Underwriter of Registrable Securities or as may be required by the
rules, regulations or instructions applicable to the registration form used by the Company or by the Securities Act or rules and
regulations thereunder to keep the Registration Statement effective until all Registrable Securities covered by such Registration
Statement are sold in accordance with the intended plan of distribution set forth in such Registration Statement or supplement
to the Prospectus;

 

                                3.1.3
prior to filing a Registration Statement or prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriters,
if any, and the Holders of Registrable Securities included in such Registration, and such Holders’ legal counsel, copies
of such Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case
including all exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration Statement
(including each preliminary Prospectus), and such other documents as the Underwriters and the Holders of Registrable Securities
included in such Registration or the legal counsel for any such Holders may request in order to facilitate the disposition of the
Registrable Securities owned by such Holders;

 

                                3.1.4
prior to any public offering of Registrable Securities, use its best efforts to (i) register or qualify the Registrable Securities
covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United
States as the Holders of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution)
may request and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement
to be registered with or approved by such other governmental authorities as may be necessary by virtue of the business and operations
of the Company and do any and all other acts and things that may be necessary or advisable to enable the Holders of Registrable
Securities included in such Registration Statement to consummate the disposition of such Registrable Securities in such jurisdictions;
provided, however, that the Company shall not be required to qualify generally to do business in any jurisdiction
where it would not otherwise be required to qualify or take any action to which it would be subject to general service of process
or taxation in any such jurisdiction where it is not then otherwise so subject;

 

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                                3.1.5
cause all such Registrable Securities to be listed on each securities exchange or automated quotation system on which similar securities
issued by the Company are then listed;

 

                                3.1.6
provide a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the effective
date of such Registration Statement;

 

                                3.1.7
advise each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance
of any stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation or threatening
of any proceeding for such purpose and promptly use its reasonable best efforts to prevent the issuance of any stop order or to
obtain its withdrawal if such stop order should be issued;

 

                                3.1.8
at least five (5) days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such
Registration Statement or Prospectus or any document that is to be incorporated by reference into such Registration Statement or
Prospectus, furnish a copy thereof to each seller of such Registrable Securities or its counsel;

 

                                3.1.9
notify the Holders at any time when a Prospectus relating to such Registration Statement is required to be delivered under the
Securities Act, of the happening of any event as a result of which the Prospectus included in such Registration Statement, as then
in effect, includes a Misstatement, and then to correct such Misstatement as set forth in Section 3.4 hereof;

 

                                3.1.10
permit a representative of the Holders (as selected by the Sponsor, in its sole discretion), the Underwriters, if any, and any
attorney or accountant retained by such Holders or Underwriter to participate, at each such person’s own expense, in the
preparation of the Registration Statement, and cause the Company’s officers, directors and employees to supply all information
reasonably requested by any such representative, Underwriter, attorney or accountant in connection with the Registration; provided,
however, that such representatives or Underwriters enter into a confidentiality agreement, in form and substance reasonably
satisfactory to the Company, prior to the release or disclosure of any such information;

 

                                3.1.11
obtain a “cold comfort” letter from the Company’s independent registered public accountants in the event of an
Underwritten Registration, in customary form and covering such matters of the type customarily covered by “cold comfort”
letters as the managing Underwriter may reasonably request, and reasonably satisfactory to a majority-in-interest of the participating
Holders;

 

    	14

    	 

    

 

                                3.1.12
on the date the Registrable Securities are delivered for sale pursuant to such Registration, obtain an opinion, dated such date,
of counsel representing the Company for the purposes of such Registration, addressed to the Holders, the placement agent or sales
agent, if any, and the Underwriters, if any, covering such legal matters with respect to the Registration in respect of which such
opinion is being given as the Holders, placement agent, sales agent, or Underwriter may reasonably request and as are customarily
included in such opinions, and reasonably satisfactory to a majority in interest of the participating Holders;

 

                                3.1.13
in the event of any Underwritten Offering, enter into and perform its obligations under an underwriting agreement, in usual and
customary form, with the managing Underwriter of such offering;

 

                                3.1.14
make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least
twelve (12) months beginning with the first day of the Company’s first full calendar quarter after the effective date
of the Registration Statement which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;

 

                                3.1.15
if the Registration involves the Registration of Registrable Securities involving gross proceeds in excess of $50,000,000, use
its reasonable efforts to make available senior executives of the Company to participate in customary “road show” presentations
that may be reasonably requested by the Underwriter in any Underwritten Offering; and

 

                                3.1.16
otherwise, in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the Holders,
in connection with such Registration.

 

                3.2
Registration Expenses. The Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged
by the Holders that the Holders shall bear all incremental selling expenses relating to the sale of Registrable Securities, such
as Underwriters’ commissions and discounts, brokerage fees, Underwriter marketing costs and, other than as set forth in the
definition of “Registration Expenses,” all reasonable fees and expenses of any legal counsel representing the Holders
(as selected by the Sponsor, in its sole discretion, or the Holders of at least a majority of the Registrable Securities at the
time in question if the Sponsor is not participating).

 

                3.3
Requirements for Participation in Underwritten Offerings. No person may participate in any Underwritten Offering for equity
securities of the Company pursuant to a Registration initiated by the Company hereunder unless such person (i) agrees to sell
such person’s securities on the basis provided in any underwriting arrangements approved by the Company and (ii) completes
and executes all customary questionnaires, powers of attorney, indemnities, lock-up agreements, underwriting agreements and other
customary documents as may be reasonably required under the terms of such underwriting arrangements.

 

    	15

    	 

    

 

                3.4
Suspension of Sales; Adverse Disclosure. Upon receipt of written notice from the Company to the Holders (or, in the case
of any of the (x) JH Parties, to the JH Representative, or (y) the Acorn Shareholders, to the Acorn Representative) that a Registration
Statement or Prospectus contains a Misstatement, each of the Holders shall forthwith discontinue disposition of Registrable Securities
until it has received copies of a supplemented or amended Prospectus correcting the Misstatement (it being understood that the
Company hereby covenants to prepare and file such supplement or amendment as soon as practicable after the time of such notice),
or until it is advised in writing by the Company that the use of the Prospectus may be resumed. If the filing, initial effectiveness
or continued use of a Registration Statement in respect of any Registration at any time would require the Company to make an Adverse
Disclosure or would require the inclusion in such Registration Statement of financial statements that are unavailable to the Company
for reasons beyond the Company’s control, the Company may, upon giving prompt written notice of such action to the Holders
(or, in the case of any of the (x) JH Parties, to the JH Representative, or (y) the Acorn Shareholders, to the Acorn Representative),
delay the filing or initial effectiveness of, or suspend use of, such Registration Statement for the shortest period of time, but
in no event more than thirty (30) days, determined in good faith by the Company to be necessary for such purpose. In the event
the Company exercises its rights under the preceding sentence, the Holders agree to suspend, immediately upon their receipt of
the notice referred to above, their use of the Prospectus relating to any Registration in connection with any sale or offer to
sell Registrable Securities. The Company shall immediately notify the Holders of the expiration of any period during which it exercised
its rights under this Section 3.4.

 

                3.5
Reporting Obligations. As long as any Holder shall own Registrable Securities, the Company, at all times while it shall
be reporting under the Exchange Act, covenants to file timely (or obtain extensions in respect thereof and file within the applicable
grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d) of the
Exchange Act and to promptly furnish the Holders with true and complete copies of all such filings. The Company further covenants
that it shall take such further action as any Holder may reasonably request, all to the extent required from time to time to enable
such Holder to sell shares of the Common Stock held by such Holder without registration under the Securities Act within the limitation
of the exemptions provided by Rule 144 promulgated under the Securities Act, including providing any legal opinions. Upon
the request of any Holder, the Company shall deliver to such Holder a written certification of a duly authorized officer as to
whether it has complied with such requirements.

 

ARTICLE IV

INDEMNIFICATION AND CONTRIBUTION

 

                4.1
Indemnification.

 

                                4.1.1
The Company agrees to indemnify, to the extent permitted by law, each Holder of Registrable Securities, its officers and directors
and each person who controls such Holder (within the meaning of the Securities Act) against all losses, claims, damages, liabilities
and expenses (including attorneys’ fees) caused by any untrue or alleged untrue statement of material fact contained in any
Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or
alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, except
insofar as the same are caused by or contained in any information furnished in writing to the Company by such Holder expressly
for use therein. The Company shall indemnify the Underwriters, their officers and directors and each person who controls such Underwriters
(within the meaning of the Securities Act) to the same extent as provided in the foregoing with respect to the indemnification
of the Holder.

 

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                                4.1.2
In connection with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish
to the Company in writing such information and affidavits as the Company reasonably requests for use in connection with any such
Registration Statement or Prospectus and, to the extent permitted by law, shall indemnify the Company, its directors and officers
and agents and each person who controls the Company (within the meaning of the Securities Act) against any losses, claims, damages,
liabilities and expenses (including without limitation reasonable attorneys’ fees) resulting from any untrue statement of
material fact contained in the Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement
thereto or any omission of a material fact required to be stated therein or necessary to make the statements therein not misleading,
but only to the extent that such untrue statement or omission is contained in any information or affidavit so furnished in writing
by such Holder expressly for use therein; provided, however, that the obligation to indemnify shall be several, not
joint and several, among such Holders of Registrable Securities, and the liability of each such Holder of Registrable Securities
shall be in proportion to and limited to the net proceeds received by such Holder from the sale of Registrable Securities pursuant
to such Registration Statement. The Holders of Registrable Securities shall indemnify the Underwriters, their officers, directors
and each person who controls such Underwriters (within the meaning of the Securities Act) to the same extent as provided in the
foregoing with respect to indemnification of the Company.

 

                                4.1.3
Any person entitled to indemnification herein shall (i) give prompt written notice to the indemnifying party of any claim
with respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s
right to indemnification hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (ii) unless
in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties
may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably
satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability
for any settlement made by the indemnified party without its consent (but such consent shall not be unreasonably withheld). An
indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees
and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless
in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other
of such indemnified parties with respect to such claim. No indemnifying party shall, without the consent of the indemnified party,
consent to the entry of any judgment or enter into any settlement which cannot be settled in all respects by the payment of money
(and such money is so paid by the indemnifying party pursuant to the terms of such settlement) or which settlement does not include
as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability
in respect to such claim or litigation.

 

    	17

    	 

    

 

                                4.1.4
The indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made
by or on behalf of the indemnified party or any officer, director or controlling person of such indemnified party and shall survive
the transfer of securities. The Company and each Holder of Registrable Securities participating in an offering also agrees to make
such provisions as are reasonably requested by any indemnified party for contribution to such party in the event the Company’s
or such Holder’s indemnification is unavailable for any reason.

 

                                4.1.5
If the indemnification provided under Section 4.1 hereof from the indemnifying party is unavailable or insufficient
to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then
the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified
party as a result of such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the
relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The
relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether
any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to
state a material fact, was made by, or relates to information supplied by, such indemnifying party or indemnified party, and the
indemnifying party’s and indemnified party’s relative intent, knowledge, access to information and opportunity to correct
or prevent such action; provided, however, that the liability of any Holder under this subsection 4.1.5 shall
be limited to the amount of the net proceeds received by such Holder in such offering giving rise to such liability. The amount
paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include, subject
to the limitations set forth in subsections 4.1.1, 4.1.2 and 4.1.3 above, any legal or other fees, charges
or expenses reasonably incurred by such party in connection with any investigation or proceeding. The parties hereto agree that
it would not be just and equitable if contribution pursuant to this subsection 4.1.5 were determined by pro rata allocation
or by any other method of allocation, which does not take account of the equitable considerations referred to in this subsection
4.1.5. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be
entitled to contribution pursuant to this subsection 4.1.5 from any person who was not guilty of such fraudulent misrepresentation.

 

ARTICLE V

MISCELLANEOUS

 

                5.1
Notices. Any notice or communication under this Agreement must be in writing and given by (i) deposit in the United
States mail, addressed to the party to be notified, postage prepaid and registered or certified with return receipt requested,
(ii) delivery in person or by courier service providing evidence of delivery, or (iii) transmission by hand delivery,
telecopy, telegram or facsimile. Each notice or communication that is mailed, delivered, or transmitted in the manner described
above shall be deemed sufficiently given, served, sent, and received, in the case of mailed notices, on the third business day
following the date on which it is mailed and, in the case of notices delivered by courier service, hand delivery, telecopy, telegram
or facsimile, at such time as it is delivered to the addressee (with the delivery receipt or the affidavit of messenger) or at
such time as delivery is refused by the addressee upon presentation. Any notice or communication under this Agreement must be addressed
as follows:

 

    	18

    	 

    

 

	if to the Company or	 
	RLJ Acquisition:	RLJ Entertainment, Inc.
	 	3 Bethesda Metro Center, Suite 1000
	 	Bethesda, Maryland 20814
	 	Attention:
	 	Facsimile:
	 	 
	with a copy to:	Greenberg Traurig, LLP
	 	MetLife Building
	 	200 Park Avenue
	 	New York, New York 10166
	 	Attention: Alan I. Annex
	 	Facsimile: (212) 801-6400
	 	 
	if to the Sponsor,	 
	Cohen or Goldfarb:	c/o RLJ Entertainment, Inc.
	 	3 Bethesda Metro Center, Suite 1000
	 	Bethesda, Maryland 20814
	 	Attention:
	 	Facsimile:
	 	 
	if to any of the	 
	JH Parties or the	 
	JH Representative:	JH Partners, LLC
	 	451 Jackson Street
	 	San Francisco, California 94111
	 	Attention: Patrick M. Collins
	 	Facsimile: (415) 364-0333
	 	 
	with a copy to:	Latham & Watkins LLP
	 	505 Montgomery Street, Suite 2000
	 	San Francisco, California 94111
	 	Attention: Robert E. Burwell
	 	Facsimile: (415) 395-8095
	 	 
	if to any of the	 
	Acorn Shareholders or the	 
	Acorn Representative:	Peter Edwards
	 	7400 Meadow Lane
	 	Chevy Chase, MD 20185
	 	Facsimile: (301) 654-4249

 

    	19

    	 

    

 

	with a copy to:	Venable LLP
	 	750 E. Pratt Street, Suite 900
	 	Baltimore, Maryland  21202
	 	Attention: Sharon Kroupa
	 	Facsimile: (410) 244-7742

 

If to any other Holder, at such address for notice as set forth
on Exhibit B attached hereto or as otherwise provided by this Section 5.1.

 

Any party may change its address for notice at any time and
from time to time by written notice to the other parties hereto, and such change of address shall become effective thirty (30) days
after delivery of such notice as provided in this Section 5.1.

 

                5.2
Assignment; No Third Party Beneficiaries.

 

                                5.2.1
This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company
in whole or in part. Prior to the expiration of the Founder Lock-Up Period or the Sponsor Lock-Up Period, as the case may be, no
Holder may assign or delegate their rights, duties or obligations under this Agreement in whole or in part.

 

                                5.2.2
Except as set forth in subsection 5.2.1 hereof, this Agreement and the rights, duties and obligations of the Holders of
Registrable Securities hereunder may be assigned or delegated by such Holder of Registrable Securities in conjunction with and
to the extent of any transfer of Registrable Securities by any such Holder.

 

                                5.2.3
This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors
and the permitted assigns of the Holders.

 

                                5.2.4
This Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other than as expressly set
forth in this Agreement and Section 5.2 hereof.

 

                                5.2.5
No assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate
the Company unless and until the Company shall have received (i) written notice of such assignment as provided in Section 5.1
hereof and (ii) the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the
terms and provisions of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement).
Any transfer or assignment made other than as provided in this Section 5.2 shall be null and void.

 

                5.3
Counterparts. This Agreement may be executed in multiple counterparts (including facsimile or PDF counterparts), each of
which shall be deemed an original, and all of which together shall constitute the same instrument, but only one of which need be
produced.

 

    	20

    	 

    

 

                5.4
Governing Law; Venue. NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES
EXPRESSLY AGREE THAT THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF NEVADA AS APPLIED TO AGREEMENTS
AMONG NEVADA RESIDENTS ENTERED INTO AND TO BE PERFORMED ENTIRELY WITHIN NEVADA, WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS
OF SUCH JURISDICTION.

 

                5.5
Amendments and Modifications. Upon the written consent of the Company and the Holders of at least sixty-six and two-thirds
percent (66 2/3%) of the Registrable Securities at the time in question, compliance with any of the provisions, covenants and conditions
set forth in this Agreement may be waived, or any of such provisions, covenants or conditions may be amended or modified; provided,
however, that notwithstanding the foregoing, any amendment hereto or waiver hereof that adversely affects one Holder, solely
in its capacity as a holder of the shares of capital stock of the Company, in a manner that is materially different from the other
Holders (in such capacity) shall require the consent of the Holder so affected. No course of dealing between any Holder or the
Company and any other party hereto or any failure or delay on the part of a Holder or the Company in exercising any rights or remedies
under this Agreement shall operate as a waiver of any rights or remedies of any Holder or the Company. No single or partial exercise
of any rights or remedies under this Agreement by a party shall operate as a waiver or preclude the exercise of any other rights
or remedies hereunder or thereunder by such party.

 

                5.6
Other Registration Rights. The Company represents and warrants that no person, other than a Holder of Registrable Securities,
has any right to require the Company to register any securities of the Company for sale or to include such securities of the Company
in any Registration filed by the Company for the sale of securities for its own account or for the account of any other person.
Further, the Company represents and warrants that this Agreement supersedes any other registration rights agreement or agreement
with similar terms and conditions, including, without limitation, the Original Agreement, and in the event of a conflict between
any such agreement or agreements and this Agreement, the terms of this Agreement shall prevail.

 

                5.7
Termination. This Agreement shall terminate and the registration rights granted hereunder shall expire on the date that
is five (5) years after the Merger Date; provided, that such termination and expiration shall not affect registration
rights exercised prior to such date.

 

[SIGNATURE PAGES FOLLOW]

 

    	21

    	 

    

 

IN WITNESS WHEREOF, the undersigned
have caused this Agreement to be executed as of the date first written above.

 

	 	RLJ ENTERTAINMENT, INC.
	 	 	 
	 	By:	/s/ H. Van Sinclair
	 	Name: H. Van Sinclair
	 	Title:  President and Chief Executive Officer
	 	 	 
	 	RLJ ACQUISITION, INC.
	 	 	 
	 	By:	/s/ H. Van Sinclair
	 	Name: H. Van Sinclair
	 	Title:  President and Chief Executive Officer
	 	 	 
	 	RLJ SPAC ACQUISITION, LLC
	 	 	 
	 	By:	/s/ H. Van Sinclair
	 	Name: H. Van Sinclair
	 	Title:  President and Chief Executive Officer
	 	 	 
	 	WILLIAM S. COHEN
	 	 
	 	/s/ William S. Cohen
	 	William S. Cohen
	 	 
	 	MORRIS GOLDFARB
	 	 
	 	/s/ Morris Goldfarb
	 	Morris Goldfarb

 

[Signatures
continue on next page]

 

[Signature Page to Amended and Restated
Registration Rights Agreement by and among RLJ Acquisition, Inc.,

RLJ Entertainment,
Inc., RLJ SPAC Acquisition, LLC, William S. Cohen, Morris Goldfarb, JH Partners, LLC,

JH Partners Evergreen Fund, L.P.,
JH Investment Partners III, L.P., JH Investment Partners GP Fund III, LLC, 

Peter Edwards and the Shareholders of Acorn]

 

    	 

    	 

    

 

	 	JH Partners, LLC
	 	 	 
	 	By:	/s/ R. Todd Forrest
	 	Name: R. Todd Forrest
	 	Title:  Chief Financial Officer
	 	 	 
	 	JH Partners Evergreen Fund, L.P.
	 	 	 
	 	By:	JH Evergreen Management, LLC,
	 	its General Partner
	 	 	 
	 	By:	/s/ R. Todd Forrest
	 	Name: R. Todd Forrest
	 	Title:  Chief Financial Officer
	 	 	 
	 	JH INVESTMENT PARTNERS III, L.P.
	 	 	 
	 	By: JH Evergreen Management, LLC,
	 	its General Partner
	 	 	 
	 	By:	/s/ R. Todd Forrest
	 	Name: R. Todd Forrest
	 	Title:  Chief Financial Officer
	 	 	 
	 	JH INVESTMENT PARTNERS GP 

FUND III, LLC
	 	 	 
	 	By: JH Evergreen Management, LLC,
	 	its General Partner
	 	 	 
	 	By:	/s/ R. Todd Forrest
	 	Name: R. Todd Forrest
	 	Title:  Chief Financial Officer

 

[Signatures
continue on next page]

 

[Signature Page to Amended and Restated
Registration Rights Agreement by and among RLJ Acquisition, Inc.,

RLJ Entertainment, Inc., RLJ SPAC
Acquisition, LLC, William S. Cohen, Morris Goldfarb, JH Partners, LLC,

JH Partners Evergreen Fund, L.P.,
JH Investment Partners III, L.P., JH Investment Partners GP Fund III, LLC, 

Peter Edwards, Drawbridge Special Opportunities Fund
LP and the Shareholders of Acorn]

 

    	 

    	 

    

 

	 	peter edwards
	 	 	 
	 	/s/ Peter D. Edwards
	 	Peter Edwards
	 	 	 
	 	PETER EDWARDS ESBT TRUST
	 	 	 
	 	By:	/s/ Peter D. Edwards
	 	Name: Peter D. Edwards
	 	Title:  Trustee
	 	 	 
	 	EDWARDS FAMILY TRUST - SARA

 EDWARDS
	 	 	 
	 	By:	/s/ Peter D. Edwards
	 	Name: Peter D. Edwards
	 	Title:  Trustee
	 	 	 
	 	EDWARDS FAMILY TRUST -

 WILLIAM EDWARDS
	 	 	 
	 	By:	/s/ Peter D. Edwards
	 	Name: Peter D. Edwards
	 	Title:  Trustee
	 	 	 
	 	JRE ACORN IRREVOCABLE TRUST 

FBO JUSTINE K. EPSTEIN
	 	 	 
	 	Clearbridge, LLC, Trustee
	 	By:	/s/ Miles C. Padgett
	 	Name: Miles C. Padgett
	 	Title:  Trust Manager, JRE Acorn
	 	           Irrevocable Trust FBO Justine 

           K. Epstein

 

[Signatures
continue on next page]

 

[Signature Page to Amended and Restated
Registration Rights Agreement by and among RLJ Acquisition, Inc.,

RLJ Entertainment, Inc., RLJ SPAC
Acquisition, LLC, William S. Cohen, Morris Goldfarb, JH Partners, LLC,

JH Partners Evergreen Fund, L.P.,
JH Investment Partners III, L.P., JH Investment Partners GP Fund III, LLC, Peter Edwards, Drawbridge Special Opportunities Fund
LP and the Shareholders of Acorn]

 

    	 

    	 

    

 

	 	JRE ACORN IRREVOCABLE TRUST 

FBO JULES R. FEENEY
	 	 	 
	 	Clearbridge, LLC, Trustee
	 	By:	/s/ Miles C. Padgett
	 	Name: Miles C. Padgett
	 	Title:  Trust Manager, JRE Acorn
	 	           Irrevocable Trust FBO Jules 

           R. Feeney
	 	 	 
	 	JAMES EPSTEIN
	 	 	 
	 	/s/ James Epstein
	 	James Epstein
	 	 	 
	 	JOHN LORENZ
	 	 	 
	 	/s/ John Lorenz
	 	John Lorenz
	 	 	 
	 	LORENZ FAMILY TRUST FOR 

JOSEPH LORENZ
	 	 	 
	 	By:	/s/ Christine Simpson
	 	Name: Christine Simpson
	 	Title:  Trustee
	 	 	 
	 	By:	/s/ Scott Ward
	 	Name: Scott Ward
	 	Title:  Trustee

 

[Signatures
continue on next page]

 

[Signature Page to Amended and Restated
Registration Rights Agreement by and among RLJ Acquisition, Inc.,

RLJ Entertainment, Inc., RLJ SPAC
Acquisition, LLC, William S. Cohen, Morris Goldfarb, JH Partners, LLC,

JH Partners Evergreen Fund, L.P.,
JH Investment Partners III, L.P., JH Investment Partners GP Fund III, LLC, 

Peter Edwards, Drawbridge Special Opportunities Fund
LP and the Shareholders of Acorn]

 

    	 

    	 

    

 

	 	LORENZ FAMILY TRUST FOR 

PETER LORENZ
	 	 	 
	 	By:	/s/ Christine Simpson
	 	Name: Christine Simpson
	 	Title:  Trustee
	 	 	 
	 	By:	/s/ Scott Ward
	 	Name: Scott Ward
	 	Title:  Trustee
	 	 	 
	 	GEORGE DELTA
	 	 	 
	 	/s/ George Delta
	 	George Delta
	 	 	 
	 	DELTA FAMILY TRUST FOR KAYLA 

DELTA
	 	 	 
	 	By:	/s/ George Delta
	 	Name: George Delta
	 	Title:  Trustee
	 	 	 
	 	DELTA FAMILY TRUST FOR MARA 

DELTA
	 	 	 
	 	By:	/s/ George Delta
	 	Name: George Delta
	 	Title:  Trustee

 

[Signatures
continue on next page]

 

[Signature Page to Amended and Restated
Registration Rights Agreement by and among RLJ Acquisition, Inc.,

RLJ Entertainment, Inc., RLJ SPAC
Acquisition, LLC, William S. Cohen, Morris Goldfarb, JH Partners, LLC,

JH Partners Evergreen Fund, L.P.,
JH Investment Partners III, L.P., JH Investment Partners GP Fund III, LLC, 

Peter Edwards, Drawbridge Special Opportunities Fund
LP and the Shareholders of Acorn]

 

    	 

    	 

    

 

	 	MARSHA LUTZ
	 	 	 
	 	/s/ Marsha Luts
	 	Marsha Lutz
	 	 	 
	 	ROZANNE HAKALA
	 	 	 
	 	/s/ Rozanne Hakala
	 	Rozanne Hakala
	 	 	 
	 	GEORGE W. OWENS TRUST FOR 

GRANDCHILDREN DATED 11/19/91
	 	 	 
	 	By:	/s/ Gregory D. Owens
	 	Name: Gregory D. Owens
	 	Title:  Trustee
	 	 	 
	 	CAROL E. OWENS TRUST
	 	 	 
	 	By:	/s/ Carol E. Owens
	 	Name: Carol E. Owens
	 	Title:  Trustee
	 	 	 
	 	MIGUEL PENELLA
	 	 	 
	 	/s/ Miguel Penella
	 	Miguel Penella
	 	 	 
	 	MARK STEVENS
	 	 	 
	 	/s/ Mark Stevens
	 	Mark Stevens

 

[Signatures
continue on next page]

 

[Signature Page to Amended and Restated
Registration Rights Agreement by and among RLJ Acquisition, Inc.,

RLJ Entertainment, Inc., RLJ SPAC
Acquisition, LLC, William S. Cohen, Morris Goldfarb, JH Partners, LLC,

JH Partners Evergreen Fund, L.P.,
JH Investment Partners III, L.P., JH Investment Partners GP Fund III, LLC, 

Peter Edwards, Drawbridge Special Opportunities Fund
LP and the Shareholders of Acorn]

 

    	 

    	 

    

 

	 	DRAWBRIDGE SPECIAL 

OPPORTUNITIES FUND LP
	 	 	 
	 	By: Drawbridge Special Opportunities GP LLC,
	 	its general partner
	 	 	 
	 	By:	/s/ Constantine M. Dakolias
	 	Name: Constantine M. Dakolias
	 	Title: President

 

[Signature Page to Amended and Restated
Registration Rights Agreement by and among RLJ Acquisition, Inc.,

RLJ Entertainment, Inc., RLJ SPAC
Acquisition, LLC, William S. Cohen, Morris Goldfarb, JH Partners, LLC,

JH Partners Evergreen Fund, L.P.,
JH Investment Partners III, L.P., JH Investment Partners GP Fund III, LLC, 

Peter Edwards, Drawbridge Special Opportunities Fund
LP and the Shareholders of Acorn]

 

    	 

    	 

    

 

EXHIBIT A

 

LIST OF ACORN SHAREHOLDERS

 

Peter Edwards ESBT Trust

Edwards Family Trust — Sara Edwards

Edwards Family Trust — William Edwards

JRE Acorn Irrevocable Trust fbo Justine K. Epstein

JRE Acorn Irrevocable Trust fbo Jules R. Feeney

James Epstein

John Lorenz

Lorenz Family Trust for Joseph Lorenz

Lorenz Family Trust for Peter Lorenz

George Delta

Delta Family Trust for Kayla Delta

Delta Family Trust for Mara Delta

Marsha Lutz

Rozanne Hakala

George W. Owens Trust for Grandchildren Dated 11/19/91

Carol E. Owens Trust

Mark Stevens

 

    	 

    	 

    

 

Exhibit
B

 

Names
and Addresses of Other Holders

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