Document:

EX-4.3

 Exhibit 4.3 
  

 
 HILTON ESCROW ISSUER LLC 

HILTON ESCROW ISSUER CORP. 

$1,000,000,000 4.250% Senior Notes due 2024 

REGISTRATION RIGHTS AGREEMENT 

dated August 18, 2016 
  

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
			
	 1.
	 	DEFINITIONS	  	 	1	  
			
	 2.
	 	EXCHANGE OFFER	  	 	5	  
			
	 3.
	 	SHELF REGISTRATION	  	 	8	  
			
	 4.
	 	ADDITIONAL INTEREST	  	 	9	  
			
	 5.
	 	REGISTRATION PROCEDURES	  	 	10	  
			
	 6.
	 	REGISTRATION EXPENSES	  	 	16	  
			
	 7.
	 	INDEMNIFICATION AND CONTRIBUTION.	  	 	17	  
			
	 8.
	 	RULE 144A	  	 	21	  
			
	 9.
	 	UNDERWRITTEN REGISTRATIONS.	  	 	21	  
			
	 10.
	 	MISCELLANEOUS	  	 	21	  

  
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 REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (this “Agreement”) is dated as of August 18, 2016, and is entered into by and among Hilton
Escrow Issuer LLC, a Delaware limited liability company (the “Escrow Issuer”), Hilton Escrow Issuer Corp., a Delaware corporation (the “Escrow Co-Issuer” and, together with the Escrow Issuer, the “Escrow
Issuers”), each an indirect wholly-owned subsidiary of Hilton Worldwide Holdings Inc., a Delaware corporation (the “Company”), and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as representative (the
“Representative”) of the several initial purchasers named on Annex A to the Purchase Agreement referenced below (collectively, the “Initial Purchasers”). 

This Agreement is entered into in connection with the Purchase Agreement, dated as of August 8, 2016 (as supplemented by the joinder agreement
dated the date hereof, the “Purchase Agreement”), by and among the Company, the Escrow Issuers and the Representative on behalf of the Initial Purchasers, which provides for, among other things, the sale by the Escrow Issuers to the
Initial Purchasers of $1,000,000,000 in aggregate principal amount of the Escrow Issuers’ 4.250% Senior Notes due 2024 (the “Notes”). The Notes are issued under an indenture dated as of August 18, 2016 (such indenture, as
amended or supplemented from time to time, the “Indenture”), by and among the Escrow Issuers and Wilmington Trust, National Association, as trustee (the “Trustee”). The payment of principal, premium, Additional
Interest (as defined in the Indenture), if any, and interest on the Notes will be fully and unconditionally guaranteed on a senior unsecured basis (the “Guarantees”), jointly and severally, on and after the Completion Date (as
defined in the Purchase Agreement), by the Company and by each of the Company’s existing wholly owned domestic restricted subsidiaries (other than the Issuer) that guarantee the obligations under the Credit Agreement (as defined
below). References to the “Securities” shall mean, collectively, the Notes and the Guarantees. The covenants and agreements of the Company, the Surviving Issuer (as defined below) and the Subsidiary Guarantors (as defined
below) under this Agreement shall not become effective until the execution by the Company, the Surviving Issuer and the Subsidiary Guarantors of a joinder agreement to this Agreement, substantially in the form attached hereto as Exhibit A
(the “Joinder Agreement”), at which time such covenants and agreements shall become effective as of the date hereof pursuant to the terms of the Joinder Agreement, and each of the Company, the Surviving Issuer and the Subsidiary
Guarantors shall, without any further action by any person, become a party to this Agreement. In order to induce the Initial Purchasers to enter into the Purchase Agreement, the Company, the Surviving Issuer, the Escrow Issuers and the
Subsidiary Guarantors have agreed to provide the registration rights set forth in this Agreement for the benefit of the Initial Purchasers and, except as otherwise set forth herein, any subsequent holder or holders of the Securities on the terms,
and subject to the conditions, set forth herein. The execution and delivery of this Agreement is a condition to the Initial Purchasers’ obligations under the Purchase Agreement. 

The parties hereby agree as follows: 

1. Definitions 
 As used
in this Agreement, the following terms shall have the following meanings: 
 Additional Interest: See Section 4(a) hereof. 

Additional Interest Event: See Section 4(a) hereof. 

Advice: See the last paragraph of Section 5 hereof. 

Agreement: See the introductory paragraphs hereto. 

 Applicable Period: See Section 2(b) hereof. 

Board: See Section 3(a) hereof. 

Business Day: Shall have the meaning ascribed to such term in Rule 14d-1(g)(3) under the Exchange Act. 

Company: See the introductory paragraphs hereto. 

Completion Date: Shall have the meaning ascribed to such term in the Purchase Agreement. 

Credit Agreement: shall mean that certain Credit Agreement, dated as of October 25, 2013 (as amended, restated, supplemented or
otherwise modified from time to time), by and among Hilton Worldwide Finance LLC, a Delaware limited liability company, the Company, Deutsche Bank AG, New York Branch, as administrative agent, and the lenders and other parties thereto. 

Effectiveness Period: See Section 3(a) hereof. 

Escrow Co-Issuer: See the introductory paragraphs hereto. 

Escrow Issuer: See the introductory paragraphs hereto. 

Escrow Issuers: See the introductory paragraphs hereto. 

Exchange Act: The Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder.

 Exchange Notes: See Section 2(a) hereof. 

Exchange Notes Guarantees: See Section 2(a) hereof. 

Exchange Offer: See Section 2(a) hereof. 

Exchange Offer Registration Statement: See Section 2(a) hereof. 

Exchange Securities: See Section 2(a) hereof. 

FINRA: See Section 5(r) hereof. 

Guarantees: See the introductory paragraphs hereto. 

Guarantors: shall mean the Company, any Subsidiary Guarantors and any of their successors that Guarantees the Notes. 

Holder: Any holder of a Transfer Restricted Security or Transfer Restricted Securities, including, where applicable, each
Participating Broker-Dealer. 
 Indenture: See the introductory paragraphs hereto. 

Information: See Section 5(n) hereof. 

  
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 Initial Purchasers: See the introductory paragraphs hereto. 

Initial Shelf Registration: See Section 3(a) hereof. 

Inspectors: See Section 5(n) hereof. 

Issue Date: August 18, 2016, the date of original issuance of the Notes. 

Issuer: shall refer (i) collectively to the Escrow Issuers, prior to the Completion Date, and (ii) to the Surviving Issuer, from
and after the Completion Date. 
 Notes: See the introductory paragraphs hereto. 

Participant: See Section 7(a) hereof. 

Participating Broker-Dealer: See Section 2(b) hereof. 

Person: An individual, trustee, corporation, partnership, limited liability company, joint stock company, trust, unincorporated
association, union, business association, firm or other legal entity. 
 Private Exchange: See Section 2(b) hereof. 

Private Exchange Notes: See Section 2(b) hereof. 

Prospectus: The prospectus included in any Registration Statement (including, without limitation, any prospectus subject to
completion and a prospectus that includes any information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A under the Securities Act and any term sheet filed pursuant to
Rule 434 under the Securities Act), as amended or supplemented by any prospectus supplement, and all other amendments and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed
to be incorporated by reference in such Prospectus. 
 Purchase Agreement: See the introductory paragraphs hereof. 

Records: See Section 5(n) hereof. 

Registration Statement: Any registration statement of the Issuer that covers any of the Securities, the Exchange Securities or the
Private Exchange Notes (and the related Guarantees) filed with the SEC under the Securities Act, including, in each case, the Prospectus, amendments and supplements to such registration statement, including post-effective amendments, all exhibits,
and all material incorporated by reference or deemed to be incorporated by reference in such registration statement. 

Representative: See the introductory paragraphs hereto. 

Rule 144: Rule 144 under the Securities Act. 

Rule 144A: Rule 144A under the Securities Act. 

Rule 405: Rule 405 under the Securities Act. 

Rule 415: Rule 415 under the Securities Act. 

  
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 Rule 424: Rule 424 under the Securities Act. 

SEC: The U.S. Securities and Exchange Commission. 

Securities: See the introductory paragraphs hereto. 

Securities Act: The Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder. 

Shelf Notice: See Section 2(c) hereof. 

Shelf Registration: See Section 3(b) hereof. 

Shelf Registration Statement: Any Registration Statement relating to a Shelf Registration. 

Shelf Suspension Period: See Section 3(a) hereof. 

Subsequent Shelf Registration: See Section 3(b) hereof. 

Subsidiary Guarantors: shall mean any subsidiary of the Company that issues a Guarantee under the Indenture after the date of this
Agreement (other than the Company and the Issuer). 
 Surviving Issuer: shall mean Hilton Domestic Operating Company Inc., a Delaware
corporation and the direct parent of the Escrow Issuer. 
 TIA: The Trust Indenture Act of 1939, as amended. 

Transfer Restricted Securities: Each Security upon its original issuance and at all times subsequent thereto, each Exchange
Security as to which Section 2(c)(iv) hereof is applicable upon original issuance and at all times subsequent thereto and each Private Exchange Note (and the related Guarantees) upon original issuance thereof and at all times subsequent
thereto, until, in each case, the earliest to occur of (i) a Registration Statement (other than, with respect to any Exchange Securities as to which Section 2(c)(iv) hereof is applicable, the Exchange Offer Registration Statement) covering such
Security, Exchange Security or Private Exchange Note (and the related Guarantees) has been declared effective by the SEC and such Security, Exchange Security or such Private Exchange Note (and the related Guarantees), as the case may be, has been
disposed of in accordance with such effective Registration Statement, (ii) such Security has been exchanged pursuant to the Exchange Offer for an Exchange Security or Exchange Securities that may be resold without restriction under state and federal
securities laws, (iii) such Security, Exchange Security or Private Exchange Note (and the related Guarantees), as the case may be, ceases to be outstanding for purposes of the Indenture or (iv) the later of (x) the date which is two years after the
date the Securities were originally issued and (y) the date upon which such Security, Exchange Security or Private Exchange Note (and the related Guarantees), as the case may be, has been resold in compliance with Rule 144. 

Trustee: The trustee under the Indenture and the trustee under any indenture (if different) governing the Exchange Securities and
Private Exchange Notes (and the related Guarantees). 
 Underwritten registration or underwritten offering: A registration in
which securities of the Issuer are sold to one or more underwriters for reoffering to the public. 

  
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 Except as otherwise specifically provided, all references in this Agreement to acts, laws,
statutes, rules, regulations, releases, forms, no-action letters and other regulatory requirements (collectively, “Regulatory Requirements”) shall be deemed to refer also to any amendments thereto and all subsequent Regulatory
Requirements adopted as a replacement thereto having substantially the same effect therewith; provided that Rule 144 shall not be deemed to amend or replace Rule 144A. 

2. Exchange Offer 
 (a)
Unless the Exchange Offer would violate applicable law or any applicable interpretation of the staff of the SEC, each of the Issuer and the Guarantors shall, at their sole expense, use their respective commercially reasonable efforts to prepare and
file with the SEC one or more Registration Statements (each, an “Exchange Offer Registration Statement”) on an appropriate registration form with respect to a registered offer (the “Exchange Offer”) to exchange any
and all of the Transfer Restricted Securities for a like aggregate principal amount of debt securities of the same series of the Issuer (such debt securities, the “Exchange Notes”), guaranteed, to the extent applicable, on a senior
unsecured basis by the Guarantors, (the “Exchange Notes Guarantees” and, together with the Exchange Notes, the “Exchange Securities”), that are substantially identical in all material respects to the Notes except
that the Exchange Notes (i) shall contain no restrictive legend thereon, (ii) shall accrue interest from (A) the later of (x) the last date on which interest was paid on such Notes or (y) if such Notes are surrendered for exchange on a date in a
period that includes the record date for an interest payment date to occur on or after the date of such exchange and as to which interest will be paid, the date of such interest payment date or (B) if no such interest has been paid, from the Issue
Date and (iii) shall be entitled to the benefits of the Indenture or a trust indenture which is identical in all material respects to the Indenture (other than such changes to the Indenture or any such identical trust indenture as are necessary to
comply with the TIA) and which, in either case, has been qualified under the TIA. The Issuer and the Guarantors shall use their respective commercially reasonable efforts to cause the Exchange Offer Registration Statement to be declared
effective. Upon an Exchange Offer Registration Statement being declared effective, the Issuer and the Guarantors shall commence the Exchange Offer. The Exchange Offer shall comply with all applicable tender offer rules and regulations
under the Exchange Act and other applicable federal and state securities laws. The Issuer and the Guarantors shall use their respective commercially reasonable efforts to (x) keep the Exchange Offer open for at least 20 Business Days (or longer
if required by applicable law) after the date that notice of the Exchange Offer is sent to Holders; and (y) consummate the Exchange Offer on or prior to the 450th day following the Issue Date. 

Each Holder (including, without limitation, each Participating Broker-Dealer) that participates in the Exchange Offer, as a condition to
participation in the Exchange Offer, will be required to represent to the Issuer in writing (which may be contained in the applicable letter of transmittal) substantially to the effect that: (i) any Exchange Securities acquired in exchange for
Transfer Restricted Securities tendered are being acquired in the ordinary course of business of the Person receiving such Exchange Securities, whether or not such recipient is such Holder itself; (ii) at the time of the commencement or consummation
of the Exchange Offer neither such Holder nor, to the actual knowledge of such Holder, any other Person receiving Exchange Securities from such Holder, has an arrangement or understanding with any Person to participate in the distribution (within
the meaning of the Securities Act) of the Exchange Securities in violation of the provisions of the Securities Act; (iii) neither the Holder nor, to the knowledge of such Holder, any other Person receiving Exchange Securities from such Holder is an
“affiliate” (as defined in Rule 405) of either the Issuer or any Guarantor; (iv) if such Holder is not a broker-dealer, neither such Holder nor, to the knowledge of such Holder, any other Person receiving Exchange Securities from such
Holder, is engaging in or intends to engage in a distribution of the Exchange Securities; and (v) if such Holder is a Participating Broker Dealer, such Holder has acquired the Transfer Restricted Securities for its own account in exchange for
Securities that were acquired as a result of market-making activities or other trading activities and that it will comply with the applicable provisions of the 

  
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Securities Act (including, but not limited to, the prospectus delivery requirements thereunder). In addition, all Holders of Transfer Restricted Securities shall otherwise cooperate in the
Company’s and the Issuer’s preparations for the Exchange Offer. 
 Upon consummation of the Exchange Offer in accordance with this
Section 2, the provisions of this Agreement shall continue to apply, mutatis mutandis, solely with respect to Transfer Restricted Securities that are Private Exchange Notes (and the related Guarantees), Exchange Securities as to which Section
2(c)(iv) hereof is applicable and Exchange Securities held by Participating Broker-Dealers, and the Issuer and the Guarantors shall have no further obligation to register Transfer Restricted Securities (other than Private Exchange Notes (and the
related Guarantees) and Exchange Securities as to which clause 2(c)(iv) hereof applies) pursuant to Section 3 hereof. 
 (b) The Company
shall include within the Prospectus contained in the Exchange Offer Registration Statement a section entitled “Plan of Distribution,” which shall contain a summary statement of the positions taken or policies made by the staff of the SEC
with respect to the potential “underwriter” status of any broker-dealer that is the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act) of Exchange Notes received by such broker-dealer in the Exchange Offer
(a “Participating Broker Dealer”), whether such positions or policies have been publicly disseminated by the staff of the SEC or such positions or policies represent the prevailing views of the staff of the SEC. Such “Plan
of Distribution” section shall also expressly permit, to the extent permitted by applicable policies and regulations of the SEC, the use of the Prospectus by all Participating Broker-Dealers, and include a statement describing the means by
which Participating Broker-Dealers may resell the Exchange Securities in compliance with the Securities Act. 
 Each of the Issuer and the
Guarantors shall use its commercially reasonable efforts to keep the Exchange Offer Registration Statement effective and to amend and supplement the Prospectus contained therein in order to permit such Prospectus to be lawfully delivered by all
Persons subject to the prospectus delivery requirements of the Securities Act for such period of time as is necessary to comply with applicable law in connection with any resale of the Exchange Securities; provided, however, that such
period shall not be required to exceed 90 days after the date on which the Exchange Offer Registration Statement is declared effective, such period as extended, if at all, pursuant to the last paragraph of Section 5 hereof (the “Applicable
Period”). 
 If, prior to consummation of the Exchange Offer, the Initial Purchasers hold any Notes acquired by them that have the
status of an unsold allotment in the initial distribution, the Issuer upon the written request of the Initial Purchasers, shall simultaneously with the delivery of the Exchange Notes issue and deliver to the Initial Purchasers, in exchange (the
“Private Exchange”) for such Notes held by any such Initial Purchaser, a like principal amount of notes (the “Private Exchange Notes”) of the Issuer guaranteed by the Guarantors, that are identical in all material
respects to the Exchange Notes except for the placement of a restrictive legend on such Private Exchange Notes. The Private Exchange Notes shall be issued pursuant to the same indenture as the Exchange Notes and bear the same CUSIP number as
the Exchange Notes if permitted by the CUSIP Service Bureau. 
 In connection with the Exchange Offer, the Issuer and the Guarantors shall:

 (1) send, or cause to be sent, to each Holder of record entitled to participate in the Exchange Offer a copy of the
Prospectus forming part of the Exchange Offer Registration Statement, together with an appropriate letter of transmittal and related documents; 

  
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 (2) use their respective commercially reasonable efforts to keep the Exchange
Offer open for not less than 20 Business Days (or longer if required by applicable law) after the date that notice of the Exchange Offer is sent to Holders; 

(3) utilize the services of a depositary for the Exchange Offer with an address in the Borough of Manhattan, The City of New
York or in Wilmington, Delaware; 
 (4) permit Holders to withdraw tendered Notes at any time prior to the close of business,
New York time, on the last Business Day on which the Exchange Offer remains open; and 
 (5) otherwise comply in all material
respects with all laws, rules and regulations applicable to the Exchange Offer. 
 As soon as practicable after the close of the Exchange
Offer and any Private Exchange, the Issuer and the Guarantors shall: 
 (1) accept for exchange all Transfer Restricted
Securities validly tendered and not validly withdrawn pursuant to the Exchange Offer and any Private Exchange; 
 (2) deliver
to the Trustee for cancellation all Transfer Restricted Securities so accepted for exchange; and 
 (3) cause the Trustee to
authenticate and deliver promptly to each Holder of Notes, Exchange Notes or Private Exchange Notes, as the case may be, equal in principal amount to the Notes of such Holder so accepted for exchange; provided that, in the case of any Notes
held in global form by a depositary, authentication and delivery to such depositary of one or more replacement Notes in global form in an equivalent principal amount thereto for the account of such Holders in accordance with the Indenture shall
satisfy such authentication and delivery requirement. 
 The Exchange Offer and the Private Exchange shall not be subject to any conditions,
other than that (i) the Exchange Offer or Private Exchange, as the case may be, does not violate applicable law or any applicable interpretation of the staff of the SEC; (ii) no action or proceeding shall have been instituted or threatened in any
court or by any governmental agency which, in the Company’s judgment, might materially impair the ability of the Issuer and the Guarantors to proceed with the Exchange Offer or the Private Exchange, and, in the Company’s judgment, no
material adverse development shall have occurred in any existing action or proceeding with respect to the Issuer and the Guarantors; (iii) all governmental approvals shall have been obtained, which approvals the Company deems necessary for the
consummation of the Exchange Offer or Private Exchange; and (iv) the accuracy of customary representations of the Holders and other representations as may reasonably be necessary under applicable SEC rules, regulations or interpretations, the
satisfaction by the Holders of customary conditions relating to the delivery of Securities and the execution and delivery of customary documentation relating to the Exchange Offer or Private Exchanges, as applicable. 

The Exchange Securities and the Private Exchange Notes (and related guarantees) shall be issued under (i) the Indenture or (ii) an indenture
substantially identical in all material respects to the Indenture and which, in either case, has been qualified under the TIA or is exempt from such qualification and shall provide that the Exchange Securities shall not be subject to the transfer
restrictions set forth in the Indenture. The Indenture or such other indenture shall provide that the Exchange Notes, the Private Exchange Notes and the Notes shall vote and consent together on all matters as one class and that none of the
Exchange Notes, the Private Exchange Notes or the Notes will have the right to vote or consent as a separate class on any matter. 

  
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 (c) If, (i) because of any change in law or in currently prevailing interpretations of the staff
of the SEC, the Issuer or the Guarantors are not permitted to effect the Exchange Offer, (ii) the Exchange Offer is not consummated by the 450th day following the Issue Date, (iii) any holder of Private Exchange Notes so requests in writing to the
Company at any time within 30 days after the consummation of the Exchange Offer, or (iv) in the case of any Holder that participates in the Exchange Offer, such Holder does not receive Exchange Securities on the date of the exchange that may be sold
without restriction under state and federal securities laws (other than due solely to the status of such Holder as an affiliate of the Issuer or any Guarantor within the meaning of the Securities Act) and so notifies the Company within 30 days after
such Holder first becomes aware of such restrictions (but in any event no later than 30 days after the consummation of the Exchange Offer), in the case of each of clauses (i) through (iv) of this sentence, then the Issuer and the Guarantors shall
promptly deliver to the Trustee (to deliver to the Holders) written notice thereof (the “Shelf Notice”) and shall file a Shelf Registration pursuant to Section 3 hereof. 

3. Shelf Registration 

If at any time a Shelf Notice is delivered as contemplated by Section 2(c) hereof, then: 

(a) Shelf Registration. The Issuer and the Guarantors shall, at their sole expense, use their respective commercially reasonable
efforts to file with the SEC a Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415 covering all of the Transfer Restricted Securities (the “Initial Shelf Registration”) as soon as practicable
after the filing obligation arises. The Initial Shelf Registration shall be on Form S-1 or another appropriate form permitting registration of such Transfer Restricted Securities for resale by Holders in the manner or manners designated by them
(including, without limitation, one or more underwritten offerings).
 The Issuer and the Guarantors shall use their respective commercially
reasonable efforts to cause the Initial Shelf Registration to be declared effective under the Securities Act promptly, and to keep the Initial Shelf Registration continuously effective under the Securities Act until the earliest of (i) the date that
is one year following its effective date and (ii) the date upon which all Transfer Restricted Securities have been sold thereunder; provided that the Issuer and the Guarantors shall have no obligation to file or maintain a Shelf Registration
after the second anniversary of the Issue Date if at such time all of the Securities covered by such Shelf Registration (except for Securities held by an affiliate of the Company) are eligible for resale under Rule 144, without regard to volume,
manner of sale or other restrictions contained in Rule 144 under the Securities Act (or any successor rule) (the “Effectiveness Period”). Notwithstanding anything to the contrary in this Agreement, at any time, the Company may
delay the filing of any Shelf Registration or delay or suspend the effectiveness thereof, for a reasonable period of time, but not in excess of 60 consecutive days or more than three (3) times during any calendar year (each, a “Shelf
Suspension Period”), if the Board of Directors of the Issuer or a similar governing body of any parent company of the Issuer (each, a “Board”) determines reasonably and in good faith that the filing of any such Initial
Shelf Registration or the continuing effectiveness thereof would require the disclosure of non-public material information that, in the reasonable judgment of such Board, would be detrimental to the Issuer if so disclosed or would otherwise
materially adversely affect a financing, acquisition, disposition, merger or other material transaction or such action is required by applicable law. Any Shelf Suspension Period pursuant to this Section 3(a) shall begin on the date specified in
a written notice given by the Company to the Holders and shall end on the date specified in a subsequent written notice given by the Company to the Holders. 

  
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 (b) Withdrawal of Stop Orders; Subsequent Shelf Registrations. If the Initial Shelf
Registration or any Subsequent Shelf Registration ceases to be effective for any reason at any time during the Effectiveness Period (other than in the case of Shelf Suspension Period(s) permitted by this Agreement and other than because of the sale
of all of the Securities registered thereunder), the Issuer and the Guarantors shall use their respective commercially reasonable efforts to obtain the prompt withdrawal of any order suspending the effectiveness thereof, and in any event shall file
an additional Shelf Registration Statement pursuant to Rule 415 covering all of the Transfer Restricted Securities covered by and not sold under the Initial Shelf Registration or an earlier Subsequent Shelf Registration (each, a “Subsequent
Shelf Registration”). If a Subsequent Shelf Registration is filed, the Issuer and the Guarantors shall use their respective commercially reasonable efforts to cause the Subsequent Shelf Registration to be declared effective under the
Securities Act as soon as practicable after such filing and to keep such subsequent Shelf Registration continuously effective for a period equal to the number of days in the Effectiveness Period less the aggregate number of days during which the
Initial Shelf Registration or any Subsequent Shelf Registration was previously continuously effective. As used herein, the term “Shelf Registration” means the Initial Shelf Registration and any Subsequent Shelf Registration.

 (c) Supplements and Amendments. The Issuer and the Guarantors shall promptly supplement and amend the Shelf Registration if
required by the rules, regulations or instructions applicable to the registration form used for such Shelf Registration, if required by the Securities Act, or if reasonably requested by the Holders of a majority in aggregate principal amount of the
Transfer Restricted Securities (or their counsel) covered by such Registration Statement with respect to the information included therein with respect to one or more of such Holders, or, if reasonably requested by any underwriter of such Transfer
Restricted Securities, with respect to the information included therein with respect to such underwriter. 
 4. Additional Interest

 (a) The Issuer, the Guarantors and the Initial Purchasers agree that the Holders will suffer damages if the Issuer and the Guarantors
fail to fulfill their obligations under Section 2 or Section 3 hereof, as further specified in this Section 4, and that it would not be feasible to ascertain the extent of such damages with precision. Accordingly, the Issuer and the Guarantors
agree to pay, jointly and severally, as liquidated damages, additional interest on the Notes (“Additional Interest”) if (A) the Issuer and the Guarantors have neither (i) exchanged Exchange Securities for all Transfer Restricted
Securities validly tendered in accordance with the terms of the Exchange Offer nor (ii) if applicable, had a Shelf Registration Statement declared effective, in either case on or prior to the 450th day after the Issue Date, or (B) if applicable, a
Shelf Registration has been declared effective and such Shelf Registration ceases to be effective at any time during the Effectiveness Period (other than because of the sale of all of the Transfer Restricted Securities registered thereunder) (each
such event referred to in clauses (A) and (B), an “Additional Interest Event”), then Additional Interest shall accrue on the principal amount of the Notes then outstanding (but, following the consummation of the Exchange Offer, only
on the principal amount of such Notes that could not be exchanged or were not exchanged as specified in Section 2(c) hereof) at a rate of 0.25% per annum during the 90-day period immediately following the occurrence of any Additional Interest Event
(which rate will be increased by an additional 0.25% per annum for each subsequent 90-day period that such Additional Interest continues to accrue; provided that the rate at which such Additional Interest accrues may in no event exceed 1.00%
per annum) (such Additional Interest to be calculated by the Issuer) commencing on the (x) 451st day after the Issue Date, in the case of (A) above, or (y) the day such Shelf Registration ceases to be effective in the case of clause (B) above;
provided, however, that upon the exchange of the Exchange Securities for all Transfer Restricted Securities validly tendered (in the case of clause (A) of this Section 4(a)), or upon the effectiveness of the applicable Shelf Registration
Statement which had ceased to remain effective (in the case of clause (B) of this Section 4(a)) or if the Notes otherwise no longer constitute Transfer Restricted Securities, Additional Interest on the Notes

  
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in respect of which such events relate as a result of such clause (or the relevant subclause thereof), as the case may be, shall cease to accrue. The obligation of the Issuer and the
Guarantors to pay Additional Interest as set forth in this Section 4 shall be the sole and exclusive monetary remedy of the Holders and Participating Broker-Dealers for any Additional Interest Event. Notwithstanding anything to the contrary
herein, (i) the amount of Additional Interest payable shall not increase because more than one Additional Interest Event has occurred and is continuing, (ii) a Holder or Participating Broker-Dealer that is not entitled to the benefits of the Shelf
Registration shall not be entitled to Additional Interest with respect to any Additional Interest Event that pertains to the Shelf Registration and (iii) the Issuer and the Guarantors shall not be obligated to pay Additional Interest provided in
this Section 4 during a Shelf Suspension Period permitted by Section 3(a) hereof. 
 (b) The Issuer shall notify the Trustee within five
Business Days after the occurrence of an Additional Interest Event in respect of which Additional Interest is required to be paid. Any amounts of Additional Interest due pursuant to clause (a) of this Section 4 will be payable in cash
semiannually on each March 1 and September 1 (to the Holders of record on the February 15 and August 15 immediately preceding such dates), in each case commencing with the first such date occurring after any such Additional
Interest commences to accrue. The amount of Additional Interest will be determined by the Issuer by multiplying the applicable Additional Interest rate by the applicable principal amount of the Transfer Restricted Securities entitled to such
Additional Interest (as determined pursuant to Section 4(a) hereof), multiplied by a fraction, the numerator of which is the number of days such Additional Interest rate was applicable during such period (determined on the basis of a 360-day year
consisting of twelve 30 day months and, in the case of a partial month, the actual number of days elapsed), and the denominator of which is 360. 

5. Registration Procedures 

In connection with the filing of any Registration Statement pursuant to Section 2 or 3 hereof, the Issuer and the Guarantors shall use their
respective commercially reasonable efforts to effect such registrations to permit the sale of the securities covered thereby in accordance with the intended method or methods of disposition thereof, and pursuant thereto and in connection with any
Registration Statement filed by the Issuer and the Guarantors hereunder, the Issuer and the Guarantors shall: 
 (a) Use their
respective commercially reasonable efforts to prepare and file with the SEC, a Registration Statement or Registration Statements as prescribed by Section 2 or 3 hereof, and use their respective commercially reasonable efforts to cause each such
Registration Statement to become effective and remain effective as provided herein; provided, however, that if (1) such filing is pursuant to Section 3 hereof or (2) a Prospectus contained in the Exchange Offer Registration Statement
filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period relating thereto from whom the Issuer has received prior
written notice that it will be a Participating Broker-Dealer in the Exchange Offer, before filing any Registration Statement or Prospectus or any amendments or supplements thereto, the Issuer and the Guarantors shall furnish to and afford counsel
for the Holders of the Transfer Restricted Securities covered by such Registration Statement (with respect to a Registration Statement filed pursuant to Section 3 hereof), which shall be a single firm and which shall be Davis Polk & Wardwell LLP
or such other firm selected by the Holders holding a majority in principal amount of the Registrable Securities covered by such Registration Statement or counsel for such Participating Broker-Dealer (with respect to any such Registration Statement),
as the case may be, and counsel to the managing underwriters, if any, a reasonable opportunity to review copies of all such documents (including copies of any documents to be incorporated by reference therein and all exhibits thereto) proposed to be
filed (in each case at least three Business Days prior to such filing). The Issuer and the Guarantors shall not file any Registration Statement or Prospectus or any amendments or supplements thereto if the Holders of a majority in aggregate
principal amount of the Transfer Restricted Securities covered by such Registration Statement, their counsel, or the managing underwriters, if any, shall reasonably object. 

  
 -10- 

 (b) Prepare and file with the SEC such amendments and post-effective amendments to each Shelf
Registration Statement or Exchange Offer Registration Statement, as the case may be, as may be necessary to keep such Registration Statement continuously effective for the Effectiveness Period, the Applicable Period or until consummation of the
Exchange Offer, as the case may be; cause the related Prospectus to be supplemented by any Prospectus supplement required by applicable law, and as so supplemented to be filed pursuant to Rule 424; and comply with the provisions of the Securities
Act and the Exchange Act applicable to them with respect to the disposition of all securities covered by such Registration Statement as so amended or in such Prospectus as so supplemented and with respect to the subsequent resale of any securities
being sold by a Participating Broker-Dealer covered by any such Prospectus in all material respects. The Issuer and the Guarantors shall be deemed not to have used their respective commercially reasonable efforts to keep a Registration
Statement effective if they voluntarily take any action that is reasonably expected to result in selling Holders of the Transfer Restricted Securities covered thereby or Participating Broker-Dealers seeking to sell Exchange Securities not being able
to sell such Transfer Restricted Securities or such Exchange Securities during that period unless such action is required by applicable law or permitted by this Agreement. 

(c) If (1) a Shelf Registration is filed pursuant to Section 3 hereof or (2) a Prospectus contained in the Exchange Offer Registration
Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period relating thereto from whom the Issuer has
received written notice that it will be a Participating Broker-Dealer in the Exchange Offer, notify the selling Holders of Transfer Restricted Securities (with respect to a Registration Statement filed pursuant to Section 3 hereof), or each such
Participating Broker-Dealer (with respect to any such Registration Statement), as the case may be, their counsel and the managing underwriters, if any, promptly (but in any event within three Business Days), and confirm such notice in writing, (i)
when a Prospectus or any Prospectus supplement or post-effective amendment has been filed, and, with respect to a Registration Statement or any post-effective amendment, when the same has become effective under the Securities Act (including in such
notice a written statement that any Holder may, upon request, obtain, at the sole expense of the Issuer and the Guarantors, one conformed copy of such Registration Statement or post-effective amendment including financial statements and schedules,
documents incorporated or deemed to be incorporated by reference and exhibits), (ii) of the issuance by the SEC of any stop order suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of any
preliminary prospectus or the initiation of any proceedings for that purpose, (iii) if at any time when a prospectus is required by the Securities Act to be delivered in connection with sales of the Transfer Restricted Securities or resales of
Exchange Securities by Participating Broker-Dealers the representations and warranties of the Issuer and the Guarantors contained in any agreement (including any underwriting agreement) contemplated by Section 5(m) hereof cease to be true and
correct in all material respects, (iv) of the receipt by the Issuer and the Guarantors of any notification with respect to the suspension of the qualification or exemption from qualification of a Registration Statement or any of the Transfer
Restricted Securities or the Exchange Securities to be sold by any Participating Broker-Dealer for offer or sale in any jurisdiction, or the initiation or threatening of any proceeding for such purpose, (v) of the happening of any event, the
existence of any condition or any information becoming known that makes any statement made in such Registration Statement or related Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material
respect or that requires the making of any changes in or amendments or supplements to such Registration Statement, Prospectus or documents so that, in the case of the Registration Statement, it will not contain any untrue statement of a material
fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and that in the case of the Prospectus, it will not contain any untrue statement of a material fact or omit to state
any material 

  
 -11- 

 
fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (vi) of the Issuer’s
determination that a post-effective amendment to a Registration Statement would be appropriate. 
 (d) Use their respective commercially
reasonable efforts to prevent the issuance of any order suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of a Prospectus or suspending the qualification (or exemption from qualification) of
any of the Transfer Restricted Securities or the Exchange Securities to be sold by any Participating Broker-Dealer, for sale in any jurisdiction. 

(e) If a Shelf Registration is filed pursuant to Section 3 hereof and if requested during the Effectiveness Period by the managing underwriter
or underwriters (if any) or the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities being sold in connection with an underwritten offering, (i) as promptly as practicable incorporate in a prospectus supplement
or post-effective amendment such information as the managing underwriter or underwriters (if any), such Holders or counsel for either of them reasonably request to be included therein and (ii) make all required filings of such prospectus supplement
or such post-effective amendment as soon as practicable after the Issuer and the Guarantors have received notification of the matters to be incorporated in such prospectus supplement or post-effective amendment. 

(f) If (l) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer Registration
Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, furnish to each selling Holder of Transfer
Restricted Securities (with respect to a Registration Statement filed pursuant to Section 3 hereof) and to each such Participating Broker-Dealer who so requests (with respect to any such Registration Statement) and to their respective counsel and
each managing underwriter, if any, upon request and at the sole expense of the Issuer and the Guarantors, one conformed copy of the Registration Statement or Registration Statements and each post-effective amendment thereto, including financial
statements and schedules, and, if requested, all documents incorporated or deemed to be incorporated therein by reference and all exhibits. 

(g) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer Registration
Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, deliver to each selling Holder of Transfer
Restricted Securities (with respect to a Registration Statement filed pursuant to Section 3 hereof), or each such Participating Broker Dealer (with respect to any such Registration Statement), as the case may be, their respective counsel, and the
underwriters, if any, at the sole expense of the Issuer and the Guarantors, as many copies of the Prospectus or Prospectuses (including each form of preliminary prospectus) and each amendment or supplement thereto and any documents incorporated by
reference therein as such Persons may reasonably request; and, subject to the last paragraph of this Section 5, the Issuer and the Guarantors hereby consent to the use of such Prospectus and each amendment or supplement thereto by each of the
selling Holders of Transfer Restricted Securities or each such Participating Broker-Dealer, as the case may be, and the underwriters or agents, if any, and dealers, if any, in connection with the offering and sale of the Transfer Restricted
Securities covered by, or the sale by Participating Broker-Dealers of the Exchange Securities pursuant to, such Prospectus and any amendment or supplement thereto. 

(h) Prior to any public offering of Transfer Restricted Securities or any delivery of a Prospectus contained in the Exchange Offer
Registration Statement by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, use their respective commercially reasonable efforts to register or qualify, and to cooperate with the selling Holders of
Transfer Restricted 

  
 -12- 

 
Securities or each such Participating Broker-Dealer, as the case may be, the managing underwriter or underwriters, if any, and their respective counsel in connection with the registration or
qualification (or exemption from such registration or qualification) of such Transfer Restricted Securities for offer and sale under the securities or Blue Sky laws of such jurisdictions within the United States as any selling Holder, Participating
Broker-Dealer, or the managing underwriter or underwriters reasonably request in writing; provided, however, that where Exchange Securities held by Participating Broker-Dealers or Transfer Restricted Securities are offered other than
through an underwritten offering, the Issuer and the Guarantors agree to use their respective commercially reasonable efforts to cause their counsel to perform Blue Sky investigations and file registrations and qualifications required to be filed
pursuant to this Section 5(h), keep each such registration or qualification (or exemption therefrom) effective during the period such Registration Statement is required to be kept effective and do any and all other acts or things necessary or
advisable to enable the disposition in such jurisdictions of the Exchange Securities held by Participating Broker-Dealers or the Transfer Restricted Securities covered by the applicable Registration Statement; provided, however, that
the Issuer and the Guarantors shall not be required to (A) qualify generally to do business in any jurisdiction where they are not then so qualified, (B) take any action that would subject them to general service of process in any such jurisdiction
where they are not then so subject or (C) subject themselves to taxation in excess of a nominal dollar amount in any such jurisdiction where they are not then so subject. 

(i) If a Shelf Registration is filed pursuant to Section 3 hereof, cooperate with the selling Holders of Transfer Restricted Securities and
the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Transfer Restricted Securities to be sold, which certificates shall not bear any restrictive legends and shall be in a
form eligible for deposit with The Depository Trust Company; and enable such Transfer Restricted Securities to be in such denominations (subject to applicable requirements contained in the Indenture) and registered in such names as the managing
underwriter or underwriters, if any, or Holders may reasonably request. 
 (j) [Reserved]. 

(k) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer Registration
Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, upon the occurrence of any event contemplated by
Section 5(c)(v) or 5(c)(vi) hereof, as promptly as practicable prepare and (subject to Section 5(a) hereof) file with the SEC, at the sole expense of the Issuer and the Guarantors, a supplement or post-effective amendment to the Registration
Statement or a supplement to the related Prospectus or any document incorporated therein by reference so that (but only to such an extent that), as thereafter delivered to the purchasers of the Transfer Restricted Securities being sold thereunder
(with respect to a Registration Statement filed pursuant to Section 3 hereof) or to the purchasers of the Exchange Securities to whom such Prospectus will be delivered by a Participating Broker-Dealer (with respect to any such Registration
Statement), any such Prospectus will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading. 
 (l) Prior to the effective date of the first Registration Statement relating to the Transfer Restricted
Securities, (i) if then in certificated form, provide the Trustee with certificates for the Transfer Restricted Securities in a form eligible for deposit with The Depository Trust Company and (ii) provide a CUSIP number for the Transfer Restricted
Securities. 
 (m) In connection with any underwritten offering of Transfer Restricted Securities pursuant to a Shelf Registration, enter
into an underwriting agreement as is customary in underwritten 

  
 -13- 

 
offerings of debt securities similar to the Securities (including, without limitation, a customary condition to the obligations of the underwriters that the underwriters shall have received
“cold comfort” letters and updates thereof in form, scope and substance reasonably satisfactory to the managing underwriter or underwriters from the independent certified public accountants of the Company (and, if necessary, any other
independent certified public accountants of the Company, or of any business acquired by the Company, for which financial statements and financial data are, or are required to be, included or incorporated by reference in the Registration Statement),
addressed to each of the underwriters, such letters to be in customary form and covering matters of the type customarily covered in “cold comfort” letters in connection with underwritten offerings of debt securities similar to the
Securities), and take all such other actions as are reasonably requested by the managing underwriter or underwriters in order to expedite or facilitate the registration or the disposition of such Transfer Restricted Securities and, in such
connection, (i) make such representations and warranties to, and covenants with, the underwriters with respect to the business of the Issuer and the Guarantors (including any acquired business, properties or entity, if applicable), and the
Registration Statement, Prospectus and documents, if any, incorporated or deemed to be incorporated by reference therein, in each case, as are customarily made by issuers to underwriters in underwritten offerings of debt securities similar to the
Securities, and confirm the same in writing if and when reasonably requested; (ii) use their respective commercially reasonable efforts to obtain the written opinions of counsel to the Issuer and the Guarantors, and written updates thereof in form,
scope and substance reasonably satisfactory to the managing underwriter or underwriters, addressed to the underwriters covering the matters customarily covered in opinions reasonably requested in underwritten offerings (it being agreed that Simpson
Thacher & Bartlett LLP is deemed to be counsel that is reasonably acceptable); and (iii) if an underwriting agreement is entered into, the same shall contain indemnification provisions and procedures requested by the underwriters or no less
favorable to the sellers than those set forth in Section 7 hereof (or such other provisions and procedures reasonably acceptable to Holders of a majority in aggregate principal amount of Transfer Restricted Securities covered by such Registration
Statement and the managing underwriter or underwriters or agents, if any). The above shall be done at each closing under such underwriting agreement, or as and to the extent required thereunder. 

(n) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer Registration
Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, make available for inspection by any Initial
Purchaser, any selling Holder of such Transfer Restricted Securities being sold (with respect to a Registration Statement filed pursuant to Section 3 hereof), or each such Participating Broker-Dealer, as the case may be, any underwriter
participating in any such disposition of Transfer Restricted Securities, if any, and any attorney (which shall be a single firm and which shall be Davis Polk & Wardwell LLP or such other firm selected by the Holders holding a majority in
principal amount of the Registrable Securities covered by such Registration Statement), accountant or other agent retained by any such selling Holder or each such Participating Broker-Dealer (with respect to any such Registration Statement), as the
case may be, or underwriter (any such Initial Purchasers, Holders, Participating Broker-Dealers, underwriters, attorneys, accountants or agents, collectively, the “Inspectors”), upon written request, at the offices where normally
kept, during reasonable business hours, all pertinent financial and other records, pertinent corporate documents and instruments of each of the Issuer and the Guarantors and subsidiaries of the Issuer and the Guarantors (collectively, the
“Records”), as shall be reasonably necessary to enable them to exercise any applicable due diligence responsibilities, and cause the officers, directors and employees of the Issuer and the Guarantors and any of their respective
subsidiaries to supply, during reasonable business hours, all information (“Information”) reasonably requested by any such Inspector in connection with such due diligence responsibilities. Each Inspector shall agree in writing
that it will keep the Records and Information confidential, to use the Records and Information only to the extent necessary for due diligence purposes under applicable securities laws, to abstain from using the Records or the Information as the
basis for any market transactions in Securities of the Company or the Issuer (or for any purpose other than the satisfaction 

  
 -14- 

 
of its due diligence responsibilities in connection with such Shelf Registration or Exchange Offer Registration Statement, as applicable) and that it will not disclose any of the Records or
Information that the Issuer and the Guarantors determine, in good faith, to be confidential and notifies the Inspectors in writing are confidential unless (i) the disclosure of such Records or Information is necessary to avoid or correct a material
misstatement or omission in such Registration Statement or Prospectus (in the case of any Prospectus, considered in the light of the circumstances under which it was made), (ii) the release of such Records or Information is ordered pursuant to a
subpoena or other order from a court of competent jurisdiction, (iii) disclosure of such Records or Information is necessary or advisable, in the reasonable opinion of counsel for any Inspector, in connection with any action, claim, suit or
proceeding, directly or indirectly, involving or potentially involving such Inspector and arising out of, based upon, relating to, or involving this Agreement or the Purchase Agreement, or any transactions contemplated hereby or thereby or arising
hereunder or thereunder, or (iv) the information in such Records or Information has been made generally available to the public other than as a result of a disclosure or failure to safeguard such Records and Information by an Inspector or an
“affiliate” (as defined in Rule 405) thereof; provided, that the foregoing gathering of Records and Information by the Inspectors shall, to the greatest extent possible, be coordinated on behalf of Holders and any other parties
entitled thereto (including any Participating Broker-Dealers) by one counsel designated by them; and provided, further, that prior written notice shall be provided as soon as practicable to the Company of the potential disclosure of
any information by such Inspector pursuant to clauses (i) or (ii) of this sentence to permit the Company to obtain a protective order (or waive the provisions of this paragraph (n)) and that such Inspector shall take such actions as are reasonably
necessary to protect the confidentiality of such information. 
 (o) Provide an indenture trustee for the Transfer Restricted Securities or
the Exchange Securities, as the case may be, and cause the Indenture or the trust indenture provided for in Section 2(a) hereof, as the case may be, to be qualified under the TIA not later than the effective date of the first Registration Statement
relating to the Transfer Restricted Securities; and in connection therewith, cooperate with the trustee under any such indenture and the Holders of the Transfer Restricted Securities, to effect such changes (if any) to such indenture as may be
required for such indenture to be so qualified in accordance with the terms of the TIA; and execute, and use its commercially reasonable efforts to cause such trustee to execute, all documents as may be required to effect such changes, and all other
forms and documents required to be filed with the SEC to enable such indenture to be so qualified in a timely manner. 
 (p) Comply in all
material respects with all applicable rules and regulations of the SEC, and make generally available to their securityholders with regard to any applicable Registration Statement a consolidated earning statement (which need not be audited)
satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act) for the 12-month period beginning with the first month of the Company’s first fiscal quarter
commencing after the effective date of the first Registration Statement required by this Agreement; provided that this requirement shall be deemed satisfied by the Company and the Issuer by complying with the applicable reporting covenant of
the Indenture. 
 (q) If the Exchange Offer or a Private Exchange is to be consummated, upon delivery of the Transfer Restricted Securities
by Holders to the Issuer (or to such other Person as directed by the Issuer), in exchange for the Exchange Securities or the Private Exchange Notes (and the related Guarantees), as the case may be, if then in certificated form, the Issuer shall
mark, or cause to be marked, on such Transfer Restricted Securities that such Transfer Restricted Securities are being cancelled in exchange for the Exchange Securities or the Private Exchange Notes (and the related Guarantees), as the case may be;
in no event shall such Transfer Restricted Securities be marked as paid or otherwise satisfied. 

  
 -15- 

 (r) Cooperate with each seller of Transfer Restricted Securities covered by any Registration
Statement and each underwriter, if any (including any “qualified independent underwriter” that is required to be retained in accordance with the rules and regulations of the Financial Industry Regulatory Authority, Inc.
(“FINRA”)), participating in the disposition of such Transfer Restricted Securities and their respective counsel in connection with any filings required to be made with FINRA. 

(s) Use their respective commercially reasonable efforts to take all other steps reasonably necessary to effect the registration of the
Exchange Securities and/or Transfer Restricted Securities covered by a Registration Statement contemplated hereby. 
 The Issuer may require
each seller of Transfer Restricted Securities as to which any registration is being effected to furnish to the Issuer in writing such information regarding such seller and the distribution of such Transfer Restricted Securities as the Issuer may,
from time to time, reasonably request. The Issuer may exclude from such registration the Transfer Restricted Securities of any seller so long as such seller fails to furnish such information in writing within a reasonable time after receiving
such request. Each seller as to which any Shelf Registration is being effected agrees to furnish promptly in writing to the Issuer all information required to be disclosed in order to make the information previously furnished to the Issuer by
such seller not materially misleading. 
 If any such Registration Statement refers to any Holder by name or otherwise as the holder of any
securities of the Issuer, then such Holder shall have the right to require (to the extent not objected to by the SEC) (i) the insertion therein of language, in form and substance reasonably satisfactory to such Holder, to the effect that the holding
by such Holder of such securities is not to be construed as a recommendation by such Holder of the investment quality of the securities covered thereby and that such holding does not imply that such Holder will assist in meeting any future financial
requirements of the Issuer or (ii) in the event that such reference to such Holder by name or otherwise is not required by the Securities Act or any similar federal statute then in force, the deletion of the reference to such Holder in any amendment
or supplement to the Registration Statement filed or prepared subsequent to the time that such reference ceases to be required. 
 Each
Holder of Transfer Restricted Securities and each Participating Broker-Dealer agrees by its acquisition of such Transfer Restricted Securities or Exchange Securities to be sold by such Participating Broker Dealer, as the case may be, that, upon
actual receipt of any notice from the Issuer of the happening of any event of the kind described in Section 5(c)(ii), 5(c)(iv), 5(c)(v), or 5(c)(vi) hereof, such Holder shall forthwith discontinue disposition of such Transfer Restricted Securities
covered by such Registration Statement or Prospectus or Exchange Securities to be sold by such Holder or Participating Broker-Dealer, as the case may be, until such Holder’s or Participating Broker-Dealer’s receipt of the copies of the
supplemented or amended Prospectus contemplated by Section 5(k) hereof, or until it is advised in writing (the “Advice”) by the Issuer that the use of the applicable Prospectus may be resumed, and has received copies of any
amendments or supplements thereto. In the event that the Issuer shall give any such notice, each of the Applicable Period and the Effectiveness Period shall be extended by the number of days during such periods from and including the date of
the giving of such notice to and including the date when each seller of Transfer Restricted Securities covered by such Registration Statement or Exchange Securities to be sold by such Participating Broker-Dealer, as the case may be, shall have
received (x) the copies of the supplemented or amended Prospectus contemplated by Section 5(k) hereof or (y) the Advice. 
 6.
Registration Expenses 
 (a) All fees and expenses incident to the performance of or compliance with this Agreement by the Issuer and
the Guarantors of their obligations under Sections 2, 3, 5 and 8 hereof shall 

  
 -16- 

 
be borne by the Issuer and the Guarantors, jointly and severally, whether or not the Exchange Offer Registration Statement or any Shelf Registration Statement is filed or becomes effective or the
Exchange Offer is consummated, including, without limitation, (i) all registration and filing fees (including, without limitation, (A) fees with respect to filings required to be made with FINRA in connection with an underwritten offering and (B)
fees and expenses of compliance with state securities or Blue Sky laws (including, without limitation, reasonable fees and disbursements of counsel in connection with Blue Sky qualifications of the Transfer Restricted Securities or Exchange
Securities and determination of the eligibility of the Transfer Restricted Securities or Exchange Securities for investment under the laws of such jurisdictions in the United States (x) where the Holders of Transfer Restricted Securities are
located, in the case of the Exchange Securities, or (y) as provided in Section 5(h) hereof, in the case of Transfer Restricted Securities or Exchange Securities to be sold by a Participating Broker-Dealer during the Applicable Period)), (ii)
printing expenses, including, without limitation, printing Prospectuses if the printing of Prospectuses is requested by the managing underwriter or underwriters, if any, by the Holders of a majority in aggregate principal amount of the Transfer
Restricted Securities included in any Registration Statement, or in respect of Transfer Restricted Securities or Exchange Securities to be sold by any Participating Broker-Dealer during the Applicable Period, as the case may be, (iii) fees and
expenses of the Trustee and any exchange agent retained by the Issuer and the Guarantors and their counsel, (iv) fees and disbursements of counsel for the Issuer and the Guarantors and, in the case of a Shelf Registration, subject to Section 6(b),
reasonable fees and disbursements of one firm of counsel, plus one local counsel (if necessary) in each applicable jurisdiction for all of the sellers of Transfer Restricted Securities selected by the Holders of a majority in aggregate principal
amount of Transfer Restricted Securities covered by such Shelf Registration (which counsel shall be reasonably satisfactory to the Company) exclusive of any counsel retained pursuant to Section 7 hereof) and (v) fees and disbursements of all
independent certified public accountants referred to in Section 5(m) hereof (including, without limitation, the expenses of any “cold comfort” letters required by or incident to such performance). 

(b) In connection with any Registration Statement required by this Agreement (other than the Exchange Offer Registration Statement), the
Issuer and the Guarantors, jointly and severally, will reimburse the Initial Purchasers and the Holders of Transfer Restricted Securities being resold pursuant to the “Plan of Distribution” contained in the Shelf Registration Statement for
the reasonable fees and disbursements of not more than one counsel, who shall be Davis Polk & Wardwell LLP or such other counsel as may be chosen by the Holders of a majority in principal amount of the Transfer Restricted Securities for whose
benefit such Shelf Registration Statement is being prepared. 
 7. Indemnification and Contribution. 

(a) The Issuer and the Guarantors jointly and severally agree to indemnify and hold harmless each Holder of Transfer Restricted Securities and
each Participating Broker-Dealer selling Exchange Securities during the Applicable Period, and each Person, if any, who controls such Person or its affiliates within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange
Act (each, a “Participant”) against any losses, claims, damages or liabilities, joint or several, to which any Participant may become subject under the Securities Act, the Exchange Act or otherwise, insofar as any such losses,
claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon: 
 (i) any untrue statement or
alleged untrue statement of any material fact contained in any Registration Statement (or any amendment thereto) or Prospectus (as amended or supplemented if the Issuer or any of the Guarantors shall have furnished any amendments or supplements
thereto); or 
 (ii) the omission or alleged omission to state, in any Registration Statement (or any amendment thereto) or
Prospectus (as amended or supplemented if the Issuer or any of the Guarantors 

  
 -17- 

 
shall have furnished any amendments or supplements thereto), a material fact required to be stated therein or necessary to make the statements therein (in the case of any such Prospectus, in the
light of the circumstances under which such statement was made) not misleading; 
 and agree (subject to the limitations set forth in the proviso to this
sentence) to reimburse, as incurred, the Participant for any reasonable legal or other expenses incurred by the Participant in connection with investigating, defending against or appearing as a third-party witness in connection with any such loss,
claim, damage, liability or action; provided, however, neither the Issuer nor the Guarantors will be liable in any case under this Section 7(a) to the extent that any such loss, claim, damage, or liability (A) arises out of or is based
upon any untrue statement or omission or alleged untrue statement or alleged omission made in any Registration Statement (or any amendment thereto) or Prospectus (as amended or supplemented if the Issuer or any of the Guarantors shall have furnished
any amendments or supplements thereto) or any amendment or supplement thereto in reliance upon and in conformity with written information relating to any Participant furnished to the Issuer or the Guarantors by such Participant specifically for use
therein or (B) arising from an offer or sale of Securities or Exchange Securities occurring during a Shelf Suspension Period by a Holder or Participating Broker-Dealer to whom the Issuer theretofore provided notice thereof pursuant to Section 5(c)
hereof. The indemnity provided for in this Section 7 will be in addition to any liability that the Issuer or the Guarantors may otherwise have to the indemnified parties. The Issuer and the Guarantors shall not be liable under this Section 7 to
any indemnified party regarding any settlement or compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought
hereunder (whether or not the indemnified parties are actual or potential parties to such claim or action) unless such settlement, compromise or consent is consented to by the Issuer and the Guarantors, which consent shall not be unreasonably
withheld. 
 (b) Each Participant, severally and not jointly, agrees to indemnify and hold harmless the Issuer, the Guarantors, their
respective directors (or equivalent), officers, representatives, agents and employees and each person, if any, who controls the Issuer or any Guarantor within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act
against any losses, claims, damages or liabilities to which the Issuer, the Guarantors or any such director, officer or controlling person may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such losses, claims,
damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained in any Registration Statement or Prospectus or any amendment or supplement
thereto, (ii) the omission or the alleged omission to state therein a material fact necessary to make the statements therein not misleading (in the case of any such Prospectus, in the light of the circumstances under which such statements were
made), in each case to the extent, but only to the extent, that such untrue statement or omission or alleged untrue statement or alleged omission was made in reliance upon and in conformity with written information concerning such Participant
furnished to the Issuer or the Guarantors by or on behalf of such Participant specifically for use therein or (iii) an offer or sale of Securities or Exchange Securities occurring during a Shelf Suspension Period by a Holder or Participating
Broker-Dealer to whom the Issuer theretofore provided notice thereof pursuant to Section 5(c) hereof; and subject to the limitation set forth immediately preceding this clause, will reimburse, as incurred, any reasonable legal or other expenses
incurred by the Issuer, the Guarantors or any such director, officer or controlling person in connection with investigating or defending against or appearing as a third-party witness in connection with any such loss, claim, damage, liability or
action in respect thereof. The indemnity provided for in this Section 7 will be in addition to any liability that the Participants may otherwise have to the indemnified parties. A Participant shall not be liable under this Section 7 to any
indemnified party regarding any settlement or compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder
(whether or not the indemnified parties are actual or potential parties to such claim or action) unless such settlement, compromise or consent is consented to by such Participant, which consent shall not be unreasonably withheld. 

  
 -18- 

 (c) Promptly after receipt by an indemnified party under this Section 7 of notice of the
commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under this Section 7, notify the indemnifying party of the commencement thereof in writing; but the omission to
so notify the indemnifying party (i) will not relieve it from any liability under paragraph (a) or (b) above unless and to the extent it did not otherwise learn of such action and such failure results in the forfeiture by the indemnifying party of
substantial rights and defenses and (ii) will not, in any event, relieve the indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided in paragraphs (a) and (b) above. The indemnifying party
shall be entitled to appoint counsel (including local counsel in each applicable jurisdiction) of the indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party in any action for which
indemnification is sought (in which case the indemnifying party shall not thereafter be responsible for the fees and expenses of any separate counsel, other than local counsel if not appointed by the indemnifying party, retained by the indemnified
party or parties except as set forth below); provided, however, that such counsel shall be reasonably satisfactory to the indemnified party. Notwithstanding the indemnifying party’s election to appoint counsel (including local
counsel in each applicable jurisdiction) to represent the indemnified party in an action, the indemnified party shall have the right to employ separate counsel (including local counsel in each applicable jurisdiction), and the indemnifying party
shall bear the reasonable fees, costs and expenses of such separate counsel if (i) the use of counsel chosen by the indemnifying party to represent the indemnified party would present such counsel with a conflict of interest (based on the advice of
counsel to the indemnified party); (ii) such action includes both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded (based on the advice of counsel to the indemnified party) that there may be
legal defenses available to it and/or other indemnified parties that are different from or additional to those available to the indemnifying party; (iii) the indemnifying party shall not have employed counsel reasonably satisfactory to the
indemnified party to represent the indemnified party within a reasonable time after notice of the institution of such action; or (iv) the indemnifying party shall authorize the indemnified party to employ separate counsel at the expense of the
indemnifying party. It is understood and agreed that the indemnifying party shall not, in connection with any proceeding or separate but related or substantially similar proceedings in the same jurisdiction arising out of the same general
allegations or circumstances, be liable for the reasonable fees and expenses of more than one separate firm (in addition to one local counsel in each applicable jurisdiction) representing the indemnified parties under paragraph (a) or paragraph (b)
of this Section 7, as the case may be, who are parties to such action or actions. Any such separate firm for any Participants shall be designated in writing by Participants who sold a majority in interest of the Transfer Restricted Securities and
Exchange Securities sold by all such Participants, in the case of paragraph (a) of this Section 7, or the Company, in the case of paragraph (b) of this Section 7. An indemnifying party shall not, without the prior written consent of the
indemnified parties, settle or compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not
the indemnified parties are actual or potential parties to such claim or action) unless such settlement, compromise or consent includes an unconditional release of each indemnified party from all liability arising out of such claim, action, suit or
proceeding and does not include any statement as to, or any admission of, fault, culpability or failure to act by or on behalf of any indemnified party. All fees and expenses reimbursed pursuant to this paragraph (c) shall be reimbursed as they are
incurred and following a written request therefor. 
 (d) After notice from the indemnifying party to such indemnified party of its election
so to assume the defense thereof and approval by such indemnified party of counsel appointed to defend such action, the indemnifying party shall not be liable to such indemnified party under this Section 7 for any legal or other expenses, other than
reasonable costs of investigation, subsequently incurred by such 

  
 -19- 

 
indemnified party in connection with the defense thereof, unless (i) the indemnified party shall have employed separate counsel in accordance with the third sentence of paragraph (c) of this
Section 7, or (ii) the indemnifying party has authorized in writing the employment of counsel for the indemnified party at the expense of the indemnifying party. After such notice from the indemnifying party to such indemnified party, the
indemnifying party will not be liable for the costs and expenses of any settlement of such action effected by such indemnified party without the prior written consent of the indemnifying party (which consent shall not be unreasonably withheld),
unless such indemnified party waived in writing its rights under this Section 7, in which case the indemnified party may effect such a settlement without such consent. 

(e) In circumstances in which the indemnity agreement provided for in the preceding paragraphs of this Section 7 is unavailable to, or
insufficient to hold harmless, an indemnified party in respect of any losses, claims, damages or liabilities (or actions in respect thereof) (other than for the reasons specified in Section 7(a) or 7(b) hereof, including by virtue of the failure of
an indemnified party to notify the indemnifying party of its right to indemnification pursuant to paragraph (a) or (b) of this Section 7, where such failure materially prejudices the indemnifying party (through the forfeiture of substantial
rights or defenses)), each indemnifying party, in order to provide for just and equitable contribution, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions
in respect thereof) in such proportion as is appropriate to reflect (i) the relative benefits received by the indemnifying party or parties, on the one hand, and the indemnified party, on the other, from the offering of the Securities, or (ii) if
the allocation provided by the foregoing clause (i) is not permitted by applicable law, not only such relative benefits but also the relative fault of the indemnifying party or parties, on the one hand, and the indemnified party, on the other, in
connection with the statements or omissions or alleged statements or omissions that resulted in such losses, claims, damages or liabilities (or actions in respect thereof). The relative benefits received by the Issuer and the Guarantors, on the
one hand, and the Participants, on the other, shall be deemed to be in the same proportion that the total net proceeds from the offering (before deducting expenses) of the Securities received by the Issuer bear to the total discounts and commissions
received by the Participants in connection with the initial sale of the Securities by the Issues (or if such Participant did not receive a discount from the Issuer with respect to the initial sale of the Securities by the Issuer, the net proceeds
received by such Participant from the sale of Securities, Exchange Securities or Private Exchange Notes pursuant to such Registration Statement). The relative fault of the parties shall be determined by reference to, among other things, whether the
untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Issuer and the Guarantors, on the one hand, or the Participants, on the other hand, the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission or alleged statement or omission, and any other equitable considerations appropriate in the circumstances. The
parties agree that it would not be equitable if the amount of such contribution were determined by pro rata or per capita allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the
first sentence of this paragraph (e). Notwithstanding any other provision of this paragraph (e), no Participant shall be obligated to make contributions hereunder that in the aggregate exceed the total discounts, commissions and other compensation
or net proceeds, as applicable, on the sale of Securities received by such Participant in connection with the sale of the Securities, less the aggregate amount of any damages that such Participant has otherwise been required to pay by reason of the
untrue or alleged untrue statements or the omissions or alleged omissions to state a material fact, and no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution
from any person who was not guilty of such fraudulent misrepresentation. For purposes of this paragraph (e), each person, if any, who controls a Participant within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange
Act shall have the same rights to contribution as the Participants, and each director, member or manager, as applicable, of each of the Issuer and the Guarantors, each officer of each of the Issuer and the Guarantors, and each person, if any, who
controls each of the Issuer and the Guarantors within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, shall have the same rights to contribution as the Issuer and the Guarantors. 

  
 -20- 

 8. Rule 144A 

The Issuer and the Guarantors covenant and agree that they will use their respective commercially reasonable efforts to file the reports
required to be filed by them under the Securities Act and the Exchange Act and the rules and regulations adopted by the SEC thereunder in a timely manner in accordance with the requirements of the Securities Act and the Exchange Act and, if at any
time the Issuer and the Guarantors are not required to file such reports and do not otherwise file such reports pursuant to the terms of the Indenture, the Issuer and the Guarantors shall, upon the request of any Holder or beneficial owner of
Transfer Restricted Securities, make available the information required by Rule 144A(d)(4) under the Securities Act in order to permit sales pursuant to Rule 144A.

9. Underwritten Registrations. 

The Issuer and the Guarantors shall not be required to assist in an underwritten offering unless requested by the Holders of a majority in
aggregate principal amount of the Transfer Restricted Securities. If any of the Transfer Restricted Securities covered by any Shelf Registration are to be sold in an underwritten offering, the investment banker or investment bankers and manager
or managers that will manage the offering will be selected by the Holders of a majority in aggregate principal amount of such Transfer Restricted Securities included in such offering; provided that such investment banker or investment bankers
and manager or managers shall be reasonably acceptable to the Company. 
 No Holder of Transfer Restricted Securities may participate in any
underwritten registration hereunder unless such Holder (a) agrees to sell such Holder’s Transfer Restricted Securities on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such
arrangements and (b) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements. 

10. Miscellaneous 
 (a)
No Inconsistent Agreements. None of the Issuer or the Guarantors have as of the date hereof entered, and none of the Issuer or the Guarantors shall after the date of this Agreement enter, into any agreement with respect to any of the
Issuer’s securities that is inconsistent with the rights granted to the Holders of Transfer Restricted Securities in this Agreement or otherwise conflicts with the provisions hereof. The rights granted to the Holders hereunder do not in
any way conflict with and are not inconsistent with the rights granted to the holders of the Issuer’s other issued and outstanding securities, if any, under any such agreements. 

(b) Adjustments Affecting Transfer Restricted Securities. The Issuer and the Guarantors shall not, directly or indirectly, take
any action with respect to the Transfer Restricted Securities as a class that would adversely affect the ability of the Issuer and the Guarantors to consummate the Exchange Offer on the terms specified herein or effect any Shelf Registration
required by this Agreement. 
 (c) Amendments and Waivers. The provisions of this Agreement may not be amended, modified or
supplemented, and waivers or consents to departures from the provisions hereof may not be given, otherwise than with the prior written consent of (I) the Issuer and the Guarantors, and (II) (A) the Holders of not less than a majority in aggregate
principal amount of the then outstanding Transfer Restricted Securities and (B) in circumstances that would adversely affect the Participating Broker-Dealers, 

  
 -21- 

 
the Participating Broker-Dealers holding not less than a majority in aggregate principal amount of the Exchange Notes held by all Participating Broker-Dealers; provided, however,
that Section 7 hereof and this Section 10(c) may not be amended, modified or supplemented, the rate at which Additional Interest accrues pursuant to Section 4(a) hereof may not be reduced, and the time for payment of Additional Interest pursuant to
Section 4(a) hereof may not be changed, in each case, without the prior written consent of each Holder and each Participating Broker-Dealer (including any person who was a Holder or Participating Broker-Dealer of Transfer Restricted Securities or
Exchange Securities, as the case may be, disposed of pursuant to any Registration Statement) affected by any such amendment, modification or supplement; provided, further, that no consent is necessary from any Holder or Participating
Broker-Dealer in the event that this Agreement is amended, modified or supplemented for the purpose of curing any ambiguity, defect or inconsistency that does not adversely affect the rights of any Holder or Participating Broker-Dealer (as
applicable). Notwithstanding the foregoing, (A) a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders whose Securities are being tendered pursuant to the Exchange Offer
and that does not affect directly or indirectly the rights of other Holders whose Securities are not being tendered pursuant to such Exchange Offer may be given by the Holders of a majority of the outstanding principal amount of Transfer Restricted
Securities being tendered or registered and (B) a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders of Transfer Restricted Securities whose Securities are being sold
pursuant to a Registration Statement and that does not directly or indirectly affect, impair, limit or compromise the rights of other Holders of Transfer Restricted Securities may be given by Holders of at least a majority in aggregate principal
amount of the Transfer Restricted Securities being sold pursuant to such Registration Statement. 
 (d) Joinder Agreement. On or
prior to the Completion Date, the Company, the Surviving Issuer and each Subsidiary Guarantor shall execute and deliver a Joinder Agreement, substantially in the form attached hereto as Exhibit A, pursuant to which the Company, the Surviving
Issuer and each such Subsidiary Guarantor shall become a party to this Agreement on and as of the Completion Date, and shall deliver an executed copy thereof to the Initial Purchasers. 

(e) Notices. All notices and other communications (including, without limitation, any notices or other communications to the
Trustee) provided for or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, next-day air courier or facsimile: 

(i) If to a Holder of the Transfer Restricted Securities or any Participating Broker-Dealer, at the most current address of
such Holder or Participating Broker-Dealer, as the case may be, set forth on the records of the registrar under the Indenture, with a copy in like manner to the Initial Purchasers as follows: 

Merrill Lynch, Pierce, Fenner & Smith 

  Incorporated 

One Bryant Park 
 New York, New
York 10036 
 Facsimile: (212) 901-7867 

Attention: Legal Department 
 with
a copy to: 
 Davis Polk & Wardwell LLP 

450 Lexington Avenue 
 New York,
New York 10017 
 Facsimile: (212) 701-5111 

Attention: Michael Kaplan 

  
 -22- 

 (ii) If to the Initial Purchasers, at the address specified in Section 10(e)(i)
hereof; 
 (iii) If to the Escrow Issuers, the Surviving Issuer or any of the Guarantors, at the address as follows: 

Hilton Worldwide Holdings Inc. 

7930 Jones Branch Drive, Suite 1100 

McLean, Virginia 22102 

Facsimile: (703) 883-6188 

Attention: Kristin A. Campbell, Executive Vice President and General Counsel 

with a copy to: 
 Simpson
Thacher & Bartlett LLP 
 425 Lexington Avenue 

New York, New York 10017 

Facsimile: (212) 455-2502 

Attention: Edgar J. Lewandowski 

All such notices and communications shall be deemed to have been duly given: when delivered by hand, if personally delivered; five Business
Days after being deposited in the mail, postage prepaid, if mailed; one Business Day after being timely delivered to a next-day air courier; and upon receipt of confirmation, if sent by facsimile. 

Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee at
the address and in the manner specified in such Indenture. 
 (f) Successors and Assigns. This Agreement shall inure to the benefit
of and be binding upon the successors and assigns of each of the parties, including, without limitation, and without the need for an express assignment, subsequent Holders of Transfer Restricted Securities; provided, however, that this
Agreement shall not inure to the benefit of or be binding upon a successor or assign of a Holder unless and to the extent such successor or assign acquired Transfer Restricted Securities from such Holder; and provided, further, that
nothing herein shall be deemed to permit any assignment, transfer or other disposition of Transfer Restricted Securities in violation of the terms of the Purchase Agreement or the Indenture. 

(g) Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each
of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

(h) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning
hereof. 
 (i) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
EACH OF THE PARTIES HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT. 

  
 -23- 

 (j) Severability. If any term, provision, covenant or restriction of this Agreement
is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected,
impaired or invalidated, and the parties hereto shall use their respective commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision,
covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter
declared invalid, illegal, void or unenforceable. 
 (k) Notes Held by the Issuer or Any of the Guarantors or Any of Their Respective
Affiliates. Whenever the consent or approval of Holders of a specified percentage of Transfer Restricted Securities is required hereunder, Transfer Restricted Securities held the Issuer or any of the Guarantors or any of their respective
controlled affiliates (as such term is defined in Rule 405) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage. 

(l) Third-Party Beneficiaries. Holders of Transfer Restricted Securities and Participating Broker-Dealers are intended third-party
beneficiaries of this Agreement, and this Agreement may be enforced by such Persons to the extent necessary to protect the rights of the Holders hereunder. 

(m) Entire Agreement. This Agreement, together with the Purchase Agreement and the Indenture, is intended by the parties as a
final and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein and therein and any and all prior oral or written agreements, representations, or warranties, contracts,
understandings, correspondence, conversations and memoranda between the Holders and Initial Purchasers, on the one hand, and the Issuer and the Guarantors, on the other, or between or among any agents, representatives, parents, subsidiaries,
affiliates, predecessors in interest or successors in interest with respect to the subject matter hereof and thereof are merged herein and replaced hereby. 

[Remainder of Page Intentionally Blank] 

  
 -24- 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

  

					
	HILTON ESCROW ISSUER LLC
		
	By:	 	 /s/ Sean Dell’Orto

		 	Name:	 	Sean M. Dell’Orto
		 	Title:	 	President
	
	HILTON ESCROW ISSUER CORP.
		
	By:	 	 /s/ Sean Dell’Orto

		 	Name:	 	Sean M. Dell’Orto
		 	Title:	 	President

  
 [Signature Page to
Registration Rights Agreement] 

 The foregoing Agreement is hereby confirmed and accepted as of the date first
above written. 
  

							
	MERRILL LYNCH, PIERCE, FENNER & SMITH
	                              INCORPORATED
		
		 	Acting on behalf of itself and as a Representative of
		 	the several Initial Purchasers
		
		 	Merrill Lynch, Pierce, Fenner & Smith
		 	                     Incorporated
			
		 	By:	 	 /s/ Anand Melvani

		 		 	Name: Anand Melvani
		 		 	Title:   Managing Director

  
 [Signature Page to
Registration Rights Agreement] 

 Exhibit A 

Form of Joinder Agreement 

HILTON ESCROW ISSUER LLC 
 HILTON
ESCROW ISSUER CORP. 
 $1,000,000,000 of 4.250% Senior Notes due 2024 

WHEREAS, Hilton Escrow Issuer LLC, a Delaware limited liability company (the “Escrow Issuer”), Hilton Escrow Issuer Corp., a
Delaware corporation (the “Escrow Co-Issuer,” and together with the Issuer, the “Escrow Issuers”), and Merrill Lynch, Pierce, Fenner & Smith Incorporated (the “Representative”), for itself and
the other Initial Purchasers described in the Registration Rights Agreement referenced below (the “Initial Purchasers”), heretofore executed and delivered a Registration Rights Agreement, dated as of August 18, 2016 (the
“Registration Rights Agreement”), pursuant to which each of the Escrow Issuers and the Guarantors agreed, under certain circumstances, to file a registration statement with the SEC registering an exchange offer for the Notes and/or
the resale of the Escrow Issuers’ 4.250% Senior Notes due 2024 under the Securities Act; and 
 WHEREAS, in connection therewith,
Hilton Worldwide Holdings Inc., a Delaware corporation (the “Company”), Hilton Domestic Operating Company Inc., a Delaware corporation (the “Surviving Issuer”) and each Subsidiary Guarantor (as defined in the
Registration Rights Agreement) that was originally not a party thereto has agreed to join in the Registration Rights Agreement pursuant to this agreement (this “Joinder Agreement”) on the Completion Date. 

Capitalized terms used herein and not otherwise defined herein shall have the respective meanings ascribed to such terms in the Registration
Rights Agreement. 
 NOW, THEREFORE, the Company, the Surviving Issuer and each Subsidiary Guarantor hereby agrees for the benefit of the
Initial Purchasers, as follows: 
 1. Joinder. Each of the undersigned hereby acknowledges that it has received a
copy of the Registration Rights Agreement and acknowledges and agrees with the Initial Purchasers that by its execution and delivery hereof it shall: (i) join and become a party to the Registration Rights Agreement; (ii) be bound by all
covenants, agreements and acknowledgements applicable to the Company, the Surviving Issuer or a Subsidiary Guarantor, as applicable, in the Registration Rights Agreement as if made by, and with respect to, such party as set forth in and in
accordance with the terms of the Registration Rights Agreement; and (iii) perform all obligations and duties of the Company, the Surviving Issuer, or a Subsidiary Guarantor, as applicable, in accordance with the Registration Rights Agreement. 

2. Representations and Warranties. The undersigned hereby represents and warrants to and agrees with the Initial
Purchasers that it has all requisite corporate, limited liability company or partnership power and authority to execute, deliver and perform its obligations under this Joinder Agreement and it has duly and validly taken all necessary action for the
consummation of the transactions contemplated hereby and by the Registration Rights Agreement. 
 3.
Counterparts. This Joinder Agreement may be executed in two or more counterparts each one of which shall be an original, with the same effect as if the signatures thereto 

 
and hereto were upon the same instrument. Delivery of an executed counterpart of a signature page to this Joinder Agreement by telecopier, facsimile or other electronic transmission (i.e., a
“pdf’ or “tif’) shall be effective as delivery of a manually executed counterpart thereof. 
 4.
Amendments. No amendment, modification or waiver of any provision of this Joinder Agreement, nor any consent or approval to any departure therefrom, shall in any event be effective unless the same shall be in writing and signed by all of
the parties thereto. 
 5. Headings. The section headings herein are for the convenience of the parties only and
shall not affect the construction or interpretation of this Joinder Agreement. 
 6. GOVERNING LAW. THIS JOINDER
AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
 [Remainder of Page Intentionally
Blank] 

 IN WITNESS WHEREOF, the undersigned has executed this agreement this      day
of              20[●]. 
  

							
	COMPANY:	 		 	Hilton Worldwide Holdings Inc.
			
		 		 	By:
		 		 	  

		 		 	Name:
		 		 	Title:
			
	SURVIVING ISSUER:	 		 	Hilton Domestic Operating Company Inc.
			
		 		 	By:
		 		 	  

		 		 	Name:
		 		 	Title:
			
	SUBSIDIARY GUARANTORS:	 		 	[                    ]
				
		 		 	By:	 	  

		 		 	Name:	 	
		 		 	Title:	 	

 The foregoing Joinder Agreement is hereby confirmed and accepted by the Initial Purchasers as of
the date first above written. 
  

			
	 MERRILL LYNCH, PIERCE, FENNER & SMITH

                        
INCORPORATED
  
 Acting on behalf of itself

and as the Representative of
 the several Initial
Purchasers

		
	By:	 	Merrill Lynch, Pierce, Fenner & Smith                      Incorporated
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page to the Joinder Agreement to the Registration Rights Agreement]EX-10.1

 Exhibit 10.1 

HILTON ESCROW ISSUER LLC 

HILTON ESCROW ISSUER CORP. 

4.250% SENIOR NOTES DUE 2024 

ESCROW AGREEMENT 
 ESCROW
AGREEMENT (this “Agreement”), dated as of August 18, 2016, among Wilmington Trust, National Association, as escrow agent and securities intermediary (in such capacities, the “Escrow Agent”), Wilmington Trust,
National Association, as trustee under the Indenture (as defined herein) (in such capacity, the “Trustee”), Hilton Escrow Issuer LLC, a Delaware limited liability company (the “Issuer”), and Hilton Escrow Issuer
Corp., a Delaware corporation (the “Co-Issuer” and, together with the Issuer, the “Issuers”), each a wholly-owned subsidiary of the Company (as defined below). 

R E C I T A L S 

WHEREAS, this Agreement is being entered into in connection with the Purchase Agreement (the “Purchase Agreement”)
dated as of August 8, 2016 (the “Issue Date”), among the Issuers, Hilton Worldwide Holdings Inc., a Delaware corporation (the “Company”), and Merrill Lynch, Pierce, Fenner & Smith Incorporated (the
“Representative”), as representative of the initial purchasers named in Annex A thereto (collectively, the “Initial Purchasers”), and in connection with the Indenture (the “Indenture”)
dated as of the date hereof among the Issuers and the Trustee, relating to the Notes (as defined below) (for the avoidance of doubt, Wilmington Trust, National Association, whether in its capacity as Escrow Agent or Trustee, is not a party to the
Purchase Agreement, shall have no duties or obligations thereunder and shall not be deemed to have knowledge of its terms); 

WHEREAS, pursuant to the terms of the Indenture and the Purchase Agreement, the Issuers are selling $1,000,000,000 aggregate principal
amount of the Issuers’ 4.250% Senior Notes due 2024 (the “Notes”), and, pursuant to the terms of the Indenture, the payment of principal, premium, if any, and interest on the Notes will be fully and unconditionally guaranteed
pursuant to the Guarantees of the Guarantors (as such terms are defined in the Indenture) following the Release (as defined below); 

WHEREAS, concurrently with the closing of the sale of the Notes, the Initial Purchasers, on behalf of the Issuers, will deposit with
the Escrow Agent, as hereinafter provided, the gross proceeds thereof (which, for the avoidance of doubt, shall equal $1,000,000,000), which, together with the Additional Amount (as defined below) deposited directly by or on behalf of the Issuers
(in both cases, in the form of immediately available funds), shall be sufficient to pay the Special Mandatory Redemption Price (as defined below), assuming redemption of the Notes occurs on the Initial Escrow Redemption Date (as defined below); 

 WHEREAS, such funds will be used (a) upon satisfaction of the escrow conditions set
forth in Section 3, by the Issuers for the purposes set forth in Section 3(a) (including the payment of the Deferred Discount (as defined in the Purchase Agreement) to the Initial Purchasers), or (b)(i) to pay the aggregate Special
Mandatory Redemption Price for all Notes, and (ii) to pay expenses incurred by the Initial Purchasers in connection with the purchase and sale of the Notes that are payable by the Issuers pursuant to the terms of the Purchase Agreement (for the
avoidance of doubt Wilmington Trust, National Association, whether in its capacity as Escrow Agent or Trustee, is not a party to the Purchase Agreement) and expenses incurred by the Escrow Agent hereunder; 

WHEREAS, as security for their obligations under the Notes and the Indenture, the Issuers hereby grant to the Trustee, for the sole and
exclusive benefit of the Trustee and the Holders of the Notes, a first priority security interest in and lien on the Escrow Account (as defined herein) and the Collateral (as defined herein); and 

WHEREAS, the parties have entered into this Agreement in order to set forth the conditions upon which, and the manner in which, funds
will be held in and disbursed from the Escrow Account and released from the security interest and lien described above. 
 A G R E E M E N
T 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows: 
 Section 1. Defined Terms. All terms used but not defined herein shall have the meanings
ascribed to them in the Indenture. In addition to any other defined terms used herein, the following terms shall constitute defined terms for purposes of this Agreement and shall have the meanings set forth below: 

“Acceleration Notice” has the meaning set forth in Section 3(e). 

“Additional Amount” means an amount of cash equal to $3,895,833.33, which amount, together with the gross proceeds of the
sale of the Notes, equals the Initial Required Escrow Amount. 
 “Business Day” means a day other than a Saturday, a Sunday
or a day on which commercial banking institutions are not required to be open in the State of New York or a place of payment. 

“Collateral” has the meaning set forth in Section 6(a). 

“Credit Agreement” means that certain Credit Agreement, dated as of October 25, 2013 (as amended, restated, supplemented
or otherwise modified from time to time), by and among Hilton Worldwide Finance LLC, a Delaware limited liability company, the Company, Deutsche Bank AG New York Branch, as administrative agent, and the lenders and other parties thereto. 

“Default Amount” has the meaning set forth in Section 3(e). 

  
 2 

 “Eligible Investment” means cash items, U.S. Government Securities and
investments in money market funds that comply with the risk limiting conditions of Rule 2a-7 (or any successor rule) of the Securities and Exchange Commission under the Investment Company Act of 1940, as amended. 

“Escrow Account” has the meaning set forth in Section 2(b)(i). 

“Escrow Conditions” has the meaning set forth in Section 3(a). 

“Escrow Funds” has the meaning set forth in Section 2(b)(i). 

“Escrow Redemption Notice” has the meaning set forth in Section 3(b). 

“Escrowed Property” has the meaning set forth in Section 2(b)(iii). 

“Extended Escrow Redemption Date” means, if the Outside Date is extended pursuant to Section 2(b)(ii), the third
Business Day immediately following the then applicable Extended Outside Date. 
 “Extended Outside Date” has the
meaning set forth in Section 2(b)(ii). 
 “Extension Amount” has the meaning set forth in Section 2(b)(ii). 

“Extension Election” has the meaning set forth in Section 2(b)(ii). 

“Final Escrow Redemption Date” means the Initial Escrow Redemption Date or, if the Outside Date is extended pursuant to
Section 2(b)(ii), such then applicable Extended Escrow Redemption Date. 
 “Final Outside Date” means February 14,
2017 or, if such day is not a Business Day, the first following day that is a Business Day. 
 “Indemnified Person” has the
meaning set forth in Section 5. 
 “Initial Escrow Redemption Date” means September 21, 2016. 

“Initial Outside Date” means September 17, 2016. 

“Initial Required Escrow Amount” means $1,003,895,833.33, being an amount equal to the Special Mandatory Redemption
Price for all Notes on the Initial Escrow Redemption Date (including accrued interest from the Issue Date to, but excluding, the Initial Escrow Redemption Date). 

“Issue Date” has the meaning assigned to such term in the Indenture. 

“Offering Memorandum” means the Offering Memorandum dated August 8, 2016 relating to the offering of the Notes. 

  
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 “Outside Date” means the Initial Outside Date or, if the Outside Date is
extended pursuant to Section 2(b)(ii), such then applicable Extended Outside Date. 
 “Parent” means Hilton
Worldwide Finance LLC, a Delaware limited liability company. 
 “Release” has the meaning set forth in Section 3(a). 

“Release Request” has the meaning set forth in Section 3(a). 

“Representative Officer” means any officer of the Escrow Agent who has direct responsibility for the administration of this
Agreement and shall also mean any other officer of the Escrow Agent to whom any matter related to this Agreement is referred because of such person’s knowledge of and familiarity with the particular subject matter. 

“Required Escrow Amount” means, on any date, (a) the Initial Required Escrow Amount, or (b) if the Outside Date has been
extended pursuant to Section 2(b)(ii) as of such date, an amount equal to the Initial Required Escrow Amount plus the aggregate of the Extension Amounts for each Extension Election occurring on or prior to such date. 

“Restricted Subsidiary” has the meaning assigned to such term in the Indenture. 

“Secured Obligations” has the meaning set forth in Section 6(a). 

“Special Mandatory Redemption” means the obligation of the Issuers to redeem all of the Notes pursuant to Section 3.08
of the Indenture. 
 “Special Mandatory Redemption Date” means the date specified in an Escrow Redemption Notice to redeem
all the Notes that is not more than three Business Days following the date such Escrow Redemption Notice is provided pursuant to this Agreement (and in any event no later than the Final Escrow Redemption Date). 

“Special Mandatory Redemption Price” means a price equal to 100.0% of the principal amount of the Notes to be redeemed on any
Special Mandatory Redemption Date, plus accrued and unpaid interest thereon from the Issue Date, or from the most recent date to which interest has been paid or provided for, to, but excluding, such Special Mandatory Redemption Date. 

“Surviving Issuer” means Hilton Domestic Operating Company Inc., a Delaware corporation. 

“UCC” means the Uniform Commercial Code as in effect from time to time in the State of New York. 

Section 2. Escrow Account; Escrow Agent; Extensions.  

(a) Appointment of the Escrow Agent. The Issuers hereby appoint Wilmington Trust, National Association, as Escrow Agent
in accordance with the 

  
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terms and conditions set forth herein, and Wilmington Trust, National Association hereby accepts such appointment subject to the terms and conditions set forth herein. 

(b) Establishment of Escrow Account; Extensions.  

(i) Concurrently with the execution and delivery hereof, (A) the Escrow Agent shall establish a segregated escrow account
in the name of the Trustee entitled “Hilton Escrow Issuer LLC—Escrow Account” Account #117647-000 (the “Escrow Account”), (B) the Initial Purchasers, at the direction of the Issuers (which direction is hereby
given), shall deposit with the Escrow Agent, for credit to the Escrow Account, the gross proceeds from the sale of the Notes, and (C) the Issuers shall deposit with the Escrow Agent, for credit to the Escrow Account, the Additional Amount (the
amounts referred to in clauses (B) and (C), collectively, the “Escrow Funds”). The Issuers, the Trustee and the Escrow Agent hereby agree that the “securities intermediary’s jurisdiction” of the Escrow Agent is
the State of New York for purposes of the UCC, including Section 9-305 and Section 8-110 thereof. 
 (ii) The Issuers may,
from time to time by written notice to the Trustee and the Escrow Agent (an “Extension Election”) delivered not later than one Business Day prior to, in the case of the first such Extension Election, the Initial Outside Date, and
thereafter, the Extended Outside Date then in effect, make an election to extend the Outside Date then in effect to a date (the “Extended Outside Date”) specified by the Issuers in such notice, so long as, substantially concurrently
with the provision of such notice and in any event prior to the then applicable Outside Date, the Issuers deposit or cause to be deposited with the Escrow Agent (or direct the deposit of) an amount in cash sufficient (as determined solely by the
Escrow Issuers) (an “Extension Amount”), when taken together with the amount of funds then on deposit in the Escrow Account, to pay an amount equal to 100.0% of the principal amount of the Notes plus accrued and unpaid interest on
the Notes from the Issue Date, or from the most recent date to which interest has been paid or provided for, to, but excluding, the Extended Escrow Redemption Date based on such Extended Outside Date; provided that in no event shall the
Outside Date as so extended be later than the Final Outside Date. 
 (iii) The Escrow Agent shall accept the Escrow Funds, as
well as any Extension Amount that may become payable pursuant to Section 2(b)(ii), and shall hold such funds and the proceeds thereof in the Escrow Account. All amounts so deposited, including any amounts invested in Eligible Investments pursuant to
this Section 2(b)(iii), and the interest on, and dividends, distributions and other payments or proceeds in respect of, any such deposits or invested amounts, less any amounts released pursuant to the terms of this Agreement, shall constitute
the “Escrowed Property.” 

  
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The Escrow Agent shall invest any portion of the Escrowed Property that is cash in any Eligible Investments maturing on or before the then applicable Outside Date, as may be directed jointly by
the Issuers in writing from time to time. If and until the Escrow Agent receives a different joint written direction, the Issuers hereby direct the Escrow Agent to invest any cash credited to the Escrow Account in accordance with Annex IV
hereto. In selecting any Eligible Investments for investment, the Issuers shall determine that the proceeds thereof at maturity or withdrawal, which shall occur on or before the then applicable Outside Date), when added to the balance of the
Escrowed Property without the reinvestment thereof or sale prior to maturity, provide funds to the Escrow Agent in an amount at least equal to the then applicable Required Escrow Amount. All such property shall be held in the Escrow Account until
disbursed in accordance with the terms hereof. The Escrow Account and all property held therein by the Escrow Agent shall be under the “control” (within the meaning of Section 9-104 of the UCC) of the Trustee for the benefit of itself and
the Holders of the Notes. 
 (iv) The obligation and liability of the Escrow Agent to make the payments and transfers
required by this Agreement shall be limited to the Escrowed Property. The Escrow Agent shall not be liable for any loss resulting from any investment made pursuant to this Agreement in compliance with the provisions hereof, from the sale or
liquidation of any Eligible Investment required pursuant to the terms hereof, or any shortfall in the value of the Escrowed Property that might result therefrom. 

(c) Escrow Agent Compensation; Expense Reimbursement.  

(i) [Reserved] 

(ii) The Issuers, jointly and severally, shall reimburse the Escrow Agent, upon request, for all reasonable expenses,
disbursements and advances incurred or made by the Escrow Agent in implementing any of the provisions of this Agreement, including compensation and the reasonable expenses and disbursements of its counsel. Except as set forth in Section 3(b) and
Section 3(e), the Escrow Agent shall be paid any such expenses owed to it directly by or on behalf of the Issuers and shall not disburse from the Escrow Account any such amounts, nor shall the Escrow Agent have any interest in the Escrow
Account with respect to such amounts. The provisions of this clause (ii) shall survive the termination of this Agreement and survive the resignation or removal of the Escrow Agent. 

(d) Substitution of Escrow Agent. The Escrow Agent may resign by giving no less than 30 Business Days’ prior
written notice to the Issuers and the Trustee. Such resignation shall take effect upon the later to occur of (i) delivery of 

  
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all Escrowed Property maintained by the Escrow Agent hereunder and copies of all books, records and other documents in the Escrow Agent’s possession relating to the Escrowed Property or this
Agreement, in each case to a successor escrow agent mutually approved by the Issuers and the Trustee (which approvals shall not be unreasonably withheld or delayed) and to an account under the control of the Trustee, provided that the
“securities intermediary’s jurisdiction” of such successor escrow agent shall be the State of New York for purposes of the UCC, including Section 9-305 and Section 8-110 thereof, and (ii) the Issuers, the Trustee and
such successor escrow agent entering into this Agreement or any written successor agreement no less favorable to the interests of the Holders of the Notes and the Trustee than this Agreement. The Escrow Agent shall thereupon be discharged of all
obligations under this Agreement and shall have no further duties, obligations or responsibilities in connection herewith, except to the limited extent set forth in Section 4. If a successor escrow agent has not been appointed or has not accepted
such appointment within 30 Business Days after notice of resignation is given to the Issuers and the Trustee, the Escrow Agent may apply at the expense of the Issuers to a court of competent jurisdiction for the appointment of a successor escrow
agent. 
 Section 3. Release of Escrowed Property.  

(a) If at any time on or prior to 10:00 a.m. (New York City time) on the then applicable Outside Date, the Issuers deliver to
the Escrow Agent and the Trustee an Officer’s Certificate substantially in the form set forth in Annex I hereto (a “Release Request”) certifying that substantially concurrently with or, in the case of clause
(i) below, promptly following, the release of the Escrowed Property from the Escrow Account (the “Release”): 

(i) the Issuer Capitalization (as defined in the Indenture) shall be consummated; 

(ii) each of the Issuers shall have merged with and into the Surviving Issuer, with the Surviving Issuer as the surviving
entity, and the Surviving Issuer shall have assumed, pursuant to one or more supplemental indentures in the form attached to the Indenture, the obligations of the Issuers under the Indenture and the Notes; 

(iii) the Company, Parent and each of Parent’s domestic Restricted Subsidiaries (other than the Issuers or the Surviving
Issuer) that guarantees any Indebtedness (as defined in the Indenture) of Parent under the Credit Agreement on such day shall have become a Guarantor with respect to the Notes pursuant to one or more supplemental indentures in the form attached to
the Indenture; and 
 (iv) the opinion of counsel contemplated by Section 3(n)(i) of the Purchase Agreement shall have
been furnished to the Initial Purchasers and the Trustee (collectively, the “Escrow Conditions”), 

  
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 the Escrow Agent shall liquidate all Escrowed Property then held by it and shall (A) pay out
of the Escrowed Property, to the Representative for the account of the Initial Purchasers, $17,500,000 (which is the Deferred Discount payable by the Issuers pursuant to Section 2(d) of the Purchase Agreement), and (B) pay all remaining
Escrowed Property then held by it to or for the account of (and at the direction of) the Issuers, in each case by wire transfer of immediately available funds in accordance with the instructions set forth in Schedule A of the Release Request no
later than 10:00 a.m. (New York City time) on the Business Day immediately following the date such Release Request is delivered. 

(b) If no later than 11:00 a.m. (New York City time) on the then applicable Outside Date, the Escrow Agent receives a written
notice (i) from the Issuers to the Escrow Agent and the Trustee, to the effect that the Escrow Conditions will not be satisfied and that the Special Mandatory Redemption is to occur or (ii) from the Trustee, in each case substantially in
the form set forth in Annex II hereto (an “Escrow Redemption Notice”), which notice shall set forth the Special Mandatory Redemption Date and the Special Mandatory Redemption Price, then the Escrow Agent shall liquidate all
Escrowed Property then held by it and pay to the Trustee, to the extent of the proceeds of such liquidated Escrowed Property, an amount in cash equal to the aggregate Special Mandatory Redemption Price for all Notes specified in the Escrow
Redemption Notice by wire transfer of immediately available funds in accordance with the instructions set forth in the Escrow Redemption Notice no later than noon (New York City time) on such Special Mandatory Redemption Date. Concurrently with such
release to the Trustee, the Escrow Agent shall, to the extent of any excess Escrowed Property remaining after payment of the Special Mandatory Redemption Price: 

(i) FIRST, pay to the Initial Purchasers the out-of-pocket expenses of the Initial Purchasers payable by the Issuers pursuant
to Section 6 of the Purchase Agreement (in such amount and pursuant to such wire instructions as the Issuers shall notify the Escrow Agent in the Escrow Redemption Notice); 

(ii) SECOND, pay to the Escrow Agent any amount owed at such time, if any, pursuant to Section 2(c) and Section 5 hereof; and

 (iii) THIRD, pay any remaining amount of such excess Escrowed Property, after indefeasible payment in full of all the
obligations under the Indenture, to the Issuers promptly (in such amount and pursuant to such wire instructions as the Issuer shall notify the Escrow Agent in the Escrow Redemption Notice) or as a court of competent jurisdiction may direct, 

in each case by wire transfer of immediately available funds in accordance with the instructions and amounts set forth in the Escrow Redemption
Notice. 

  
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 In the event that (A) neither a Release Request nor an Extension Election
has been delivered by the Issuers pursuant to Section 3(a) prior to 10:00 a.m. (New York City time) on the applicable Outside Date and (B) an Escrow Redemption Notice has not been delivered by the Issuers pursuant to this Section 3(b)
prior to 10:00 a.m. (New York City time) on the then applicable Outside Date, then the Trustee shall deliver an Escrow Redemption Notice to the Escrow Agent pursuant to this Section 3(b) prior to 11:00 a.m. (New York City time) to the effect that
the Special Mandatory Redemption is to occur on the then applicable Final Escrow Redemption Date, which notice shall (1) set forth the Special Mandatory Redemption Price and (2) specify the Final Escrow Redemption Date as the Special
Mandatory Redemption Date. 
 (c) If at any time the Escrowed Property has an aggregate value in excess of the then
applicable Required Escrow Amount, the Escrow Agent, upon receipt of an Officer’s Certificate from the Issuers certifying as to such event and specifying the amount in excess of such Required Escrow Amount, shall cause the release of such
excess Escrowed Property to or for the account of the Issuers, or at their direction, by wire transfer of immediately available funds in accordance with the instructions set forth in such Officer’s Certificate. 

(d) Notwithstanding paragraphs 3(a), Section 3(b) and Section 3(c) above, but subject to paragraph 3(e) below, if the Escrow
Agent receives a notice from the Trustee or an Issuer that a Default has occurred and is continuing, the Escrow Agent shall not release any Escrowed Property to the Issuers unless and until the Escrow Agent receives a notice from the Trustee that
such Default is not continuing. 
 (e) Notwithstanding paragraphs 3(a), (b) and (c) above, if the Escrow Agent
receives a written notice from the Trustee substantially in the form set forth in Annex III hereto (an “Acceleration Notice”) to the effect that the principal of, and accrued interest on, the Notes (the “Default
Amount”) has become immediately due and payable pursuant to Section 6.02 of the Indenture, the Escrow Agent shall liquidate all Escrowed Property then held by it within one Business Day, and shall release to the Trustee for payment to
the Holders of the Notes in accordance with Section 6.13 of the Indenture, to the extent of the proceeds of such liquidated Escrowed Property, an amount of Escrowed Property sufficient to pay the Default Amount. Concurrently with such release
to the Trustee, the Escrow Agent shall, out of any excess Escrowed Property: 
 (i) FIRST, pay to the Initial Purchasers the
out-of-pocket expenses of the Initial Purchasers payable by the Issuers pursuant to Section 6 of the Purchase Agreement (in such amount as the Issuers shall notify the Escrow Agent); 

  
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 (ii) SECOND, pay to the Escrow Agent any amount owed at such time, if any,
pursuant to Section 2(c) hereof and Section 5 hereof; and 
 (iii) THIRD, pay any remaining amount of such excess Escrowed
Property to the Issuers, 
 in each case by wire transfer of immediately available funds in accordance with the instructions and amounts set
forth in Schedule A to Annex III hereto. 
 Section 4. Limitation of Escrow Agent’s Liability; Responsibilities
of Escrow Agent. The Escrow Agent’s responsibility and liability under this Agreement shall be limited as follows: 

(a) the Escrow Agent does not represent, warrant or guaranty to the Trustee or the Holders of the Notes from time to time the
performance of the Issuers; 
 (b) the Escrow Agent shall have no responsibility to the Issuers, the Trustee or the Holders
of the Notes from time to time as a consequence of performance or non-performance by the Escrow Agent hereunder, except for any gross negligence or willful misconduct of the Escrow Agent; 

(c) the Issuers shall remain solely responsible for all aspects of the Issuers’ business and conduct; 

(d) the Escrow Agent shall not be obligated to supervise, inspect or inform the Issuers or any third party of any matter
referred to above; and 
 (e) the Escrow Agent shall not be required to, and shall not, expend or risk any of its own funds
or otherwise incur any financial liability in the performance of any of its duties hereunder. 
 In no event shall the Escrow Agent be
liable (i) for relying upon any judicial or administrative order or judgment, upon any opinion of counsel or upon any certification, instruction, notice, or other writing delivered to it by the Issuers or the Trustee in compliance with the
provisions of this Agreement, (ii) for acting in accordance with or relying upon any instruction, notice, demand, certificate or document believed by it in good faith to be genuine and to have been signed or presented by the proper person,
(iii) for any consequential, punitive or special damages, (iv) for the acts or omissions of its nominees, correspondents, designees, subagents or subcustodians; provided, that such nominees, correspondents, designees,
subagents or subcustodians were chosen with due care by the Escrow Agent, or (v) for an amount in excess of the value of the Escrowed Property then credited to the Escrow Account. 

The rights and powers granted to the Escrow Agent hereunder are being granted in order to preserve and protect the Trustee’s and the
Holders’ of Notes security interest in and to the Collateral granted hereby and shall not be interpreted to, and shall not, 

  
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impose any duties (whether express or implied, and including fiduciary duties) on the Escrow Agent in connection therewith other than those imposed under applicable law. The Escrow Agent shall
exercise the same degree of care in the custody and preservation of the Collateral in its possession as it exercises toward its own similar property and shall not be held to any higher standard of care under this Agreement, nor be deemed to owe any
fiduciary duty to the Issuers, the Holders or any other party. 
 At any time the Escrow Agent may request in writing an instruction in
writing from the Issuers (other than any disbursement pursuant to Section 3(e)), and may at its own option include in such request the course of action it proposes to take and the date on which it proposes to act, regarding any matter arising in
connection with its duties and obligations hereunder; provided, however, that the Escrow Agent shall state in such request that it believes in good faith that such proposed course of action is not contrary to another identified
provision of this Agreement. The Escrow Agent shall not be liable to the Issuers for acting without the Issuers’ consent in accordance with such a proposal on or after the date specified therein if (i) the specified date is at least five
Business Days after the Issuers receive the Escrow Agent’s request for instructions and its proposed course of action, and (ii) prior to so acting, the Escrow Agent has not received the written instructions requested from the
Issuers. 
 The Escrow Agent may act pursuant to the advice of counsel chosen by it with respect to any matter relating to this
Agreement, and the reasonable fees and expenses of such counsel shall be paid by the Issuers, and shall not be liable for any action taken or omitted in accordance with such advice, except for any such action taken or omitted in bad faith. 

In the event of any ambiguity in the provisions of this Agreement with respect to any funds, securities or property deposited hereunder, or
instruction, notice or certification delivered hereunder, the Escrow Agent shall be entitled to refrain from complying with any and all claims, demands or instructions with respect to such funds, securities or property, and the Escrow Agent shall
not be or become liable for its failure or refusal to comply with conflicting claims, demands or instructions. The Escrow Agent shall be entitled to refuse to act until either any conflicting or adverse claims or demands shall have been finally
determined by a court of competent jurisdiction or settled by agreement between the conflicting claimants as evidenced in a writing reasonably satisfactory to the Escrow Agent, or the Escrow Agent shall have received security or an indemnity
satisfactory to the Escrow Agent sufficient to save the Escrow Agent harmless from and against any and all loss, liability or expense which the Escrow Agent may incur by reason of its acting. The Escrow Agent may in addition elect in its sole option
to commence an interpleader action or seek other judicial relief or orders as the Escrow Agent may deem necessary. The costs and expenses (including reasonable attorney’s fees and expenses) incurred in connection with such proceedings shall be
paid by, and shall be deemed an obligation of the Issuers. 
 No provision of this Agreement shall require the Escrow Agent to expend or
risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder. 

  
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 The Escrow Agent shall not incur any liability for not performing any act or fulfilling any duty,
obligation or responsibility hereunder by reason of any occurrence beyond the control of the Escrow Agent (including but not limited to any act or provision of any present or future law or regulation or governmental authority, any act of God,
terrorism or war, the failure or malfunction of communication or computer systems, or the unavailability of the Federal Reserve Bank wire or telex or other wire or communication facility). 

Section 5. Indemnity. The Issuers shall, jointly and severally, indemnify, hold harmless and defend the Trustee and the Escrow
Agent and their respective directors, officers, agents, employees and controlling persons (each, an “Indemnified Person”) from and against any and all claims, actions, obligations, liabilities and expenses, including reasonable
defense costs, reasonable investigative fees and costs, reasonable legal fees, and claims for damages, arising from the Trustee’s or the Escrow Agent’s performance or non-performance, or in connection with the Escrow Agent’s
acceptance of appointment as the Escrow Agent, under this Agreement, except to the extent that such liability, expense or claim shall have been caused by the gross negligence or willful misconduct of any such Indemnified Person. The provisions of
this Section 5 shall survive any termination, satisfaction or discharge of this Agreement as well as the resignation or removal of the Escrow Agent. 

Section 6. Grant of Security Interest; Instructions to Escrow Agent.  

(a) The Issuers hereby irrevocably grant a first priority security interest in and lien on, and pledge, assign, transfer and
set over to the Trustee for its own benefit and the benefit of the Holders of the Notes, all of their respective right, title and interest in, to the extent applicable: 

(i) the Escrow Account, and all “financial assets” (as such term is defined in Section 8-102(a) of the UCC) and other
property now or hereafter placed or deposited in, or delivered to the Escrow Agent for placement or deposit in, the Escrow Account, including, without limitation, all funds held therein, and all Eligible Investments held by (or otherwise maintained
in the name of) the Escrow Agent pursuant to Section 2; 
 (ii) all “security entitlements” (as such term is
defined in Section 8-102(a) of the UCC) from time to time credited to the Escrow Account; 
 (iii) all claims and rights of
whatever nature which the Issuers may now have or hereafter acquire against any third party in respect of any of the Collateral described in this Section 6 (including any claims or rights in respect of any security entitlements credited to an
account of the Escrow Agent maintained at The Depository Trust Company or any other clearing corporation) or any other “securities intermediary” (as such terms are defined in Section 8-102(a) of the UCC); 

  
 12 

 (iv) all rights which the Issuers have under this Agreement and all rights they
may now have or hereafter acquire against the Escrow Agent in respect of its holding and managing all or any part of the Collateral; and 

(v) all “proceeds” (as such term is defined in Section 9-102(a) of the
UCC) of any of the foregoing, 
 (collectively, the “Collateral”), in order to secure all obligations and indebtedness of
the Issuers under the Indenture, the Notes and any other obligation, now or hereafter arising, of every kind and nature, owed by the Issuers under the Indenture or the Notes to the Holders of the Notes or to the Trustee or any predecessor Trustee
(collectively, the “Secured Obligations”). The Escrow Agent hereby acknowledges the Trustee’s security interest and lien as set forth above. The Issuers shall not grant or cause or permit any other person to obtain a security
interest, encumbrance, lien or other claim, direct or indirect, in the Issuers’ right, title or interest in the Escrow Account or any Collateral. 

(b) The Issuers and the Trustee hereby irrevocably instruct the Escrow Agent to, and the Escrow Agent shall: 

(i) maintain the Escrow Account for the sole and exclusive benefit of the Trustee on its behalf and on behalf of the Holders of
the Notes to the extent specifically required herein; treat all property in the Escrow Account as “financial assets” (as defined in Section 8-102(a) of the UCC); take all steps reasonably specified in writing by the Issuers pursuant to
this Section 6 to cause the Trustee to enjoy continuous perfected first priority security interest under the UCC, any other applicable statutory or case law or regulation of the State of New York and any applicable law or regulation of the United
States in the Collateral and except as otherwise required by law, maintain the Collateral free and clear of all liens, security interests, safekeeping or other charges, demands and claims of any nature now or hereafter existing in favor of anyone
other than the Trustee; 
 (ii) promptly notify the Trustee if a Representative Officer of the Escrow Agent receives written
notice that any Person other than the Trustee has or purports to have a lien or security interest upon any portion of the Collateral; and 

(iii) in addition to requesting disbursement of amounts held in the Escrow Account pursuant to and in accordance with Section
3, upon an Event of Default and for so long as such Event of Default continues, the Trustee may exercise in respect of the Collateral, in addition to other rights and remedies provided for herein or otherwise available to it, all the rights and
remedies of a secured party under the UCC or other applicable law. 

  
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 The lien and security interest provided for in this Section 6 shall automatically
terminate and cease as to, and shall not extend or apply to, and the Trustee and the Escrow Agent shall have no security interest in, any funds disbursed by the Escrow Agent to the Issuers pursuant to this Agreement to the extent not inconsistent
with the terms hereof. The Escrow Agent shall not have any right to receive compensation from the Trustee and shall have no authority to obligate the Trustee or to compromise or pledge its security interest hereunder. Accordingly, the Escrow Agent
is hereby directed to cooperate with the Trustee in the exercise of its rights in the Collateral provided for herein. 
 (c)
Any money collected by the Trustee pursuant to Section 6(b)(iii) shall be applied as provided in Section 3(e). Neither the Trustee nor the Escrow Agent shall have any liability for any shortfall in the payment of Special Mandatory Redemption
Price. 
 (d) The Issuers will execute and deliver or cause to be executed and delivered, or use their reasonable best
efforts to procure, all assignments, instruments and other documents, deliver any instruments to the Trustee and take any other actions that are necessary or desirable, and shall direct the Trustee in writing to take all actions necessary on its
part, to perfect, continue the perfection of, or protect the first priority of the Trustee’s security interest in and to the Collateral, to protect the Collateral against the rights, claims, or interests of third persons or to effect the
purposes of this Agreement. The Issuers also hereby authorize the Trustee to file any financing or continuation statements with respect to the Collateral in such jurisdictions and filing offices and containing such description of Collateral as are
reasonably necessary in order to perfect the security interest granted herein without their respective signature (to the extent permitted by applicable law), and any such filing is hereby authorized to be made by the Initial Purchasers or their
counsel on behalf of the Trustee. The Issuers shall pay all reasonable costs incurred in connection with any of the foregoing, it being understood that the Trustee shall have no duty to determine whether to file or record any document or instrument
relating to Collateral. Neither the Trustee nor the Escrow Agent shall have any duty or obligation to file or record any document or otherwise to see to the grant or perfection of any security interest granted hereunder. 

(e) Each of the Issuers hereby appoints the Trustee as attorney-in-fact with full power of substitution to do any act that such
Issuer is obligated hereby to do, and the Trustee may, but shall not be obligated to, exercise such rights as such Issuer might exercise with respect to the Collateral and take any action in such Issuer’s name to protect the Trustee’s
security interest hereunder. 
 (f) If at any time the Escrow Agent shall receive any “entitlement order” (as such
term is defined in Section 8-102(a)(8) of the UCC) or any other instructions issued by the Trustee directing the disposition of funds in the Escrow Account or otherwise related to the Escrow Account, the Escrow Agent shall comply with any such
entitlement order or instructions without further consent by the Issuers or any other person. 

  
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 (g) The Escrow Agent represents that it is a “securities intermediary”
and that the Escrow Account is a “securities account” (as each such term is defined in the UCC). 
 (h) The Issuers
hereby confirm that the arrangements established under this Section 6 constitute “control” by the Trustee of the Escrow Account (as such term is defined in Article 9 of the UCC). The Escrow Agent and the Issuers have not entered and will
not enter into any other agreement with respect to control of the Escrow Account or purporting to limit or condition the obligation of the Escrow Agent to comply with any orders or instructions of the Trustee with respect to the Escrow Account as
set forth in this Section 6. In the event of any conflict with respect to control over the Escrow Account between this Agreement (or any portion hereof) and any other agreement now existing or hereafter entered into, the terms of this Agreement
shall prevail. 
 (i) The Escrow Agent hereby agrees that any security interest in, lien on, encumbrance, claim or right of
setoff against, the Escrow Account or any funds therein that it now has or subsequently obtains shall be subordinate to the security interest of the Trustee in the Escrow Account and the funds therein or credited thereto. Except as otherwise set
forth herein, the Escrow Agent agrees not to exercise any present or future right of recoupment or set-off against the Escrow Account or to assert against the Escrow Account any present or future security interest, banker’s lien or any other
lien or claim (including claim for penalties) that the Escrow Agent may at any time have against or in the Escrow Account or any funds therein. 

Section 7. Termination. This Agreement and the security interest in the Escrowed Property evidenced by this Agreement shall
terminate automatically and be of no further force or effect upon the distribution of all Escrowed Property in accordance with Section 3 hereof; provided, however, that the obligations of the Issuers under Section 2(c) and Section 5 (and
any existing claims thereunder) shall survive termination of this Agreement and the resignation or removal of the Escrow Agent. At such time, upon the written request of the Issuers or the Surviving Issuer, the Escrow Agent shall deliver to the
Issuers or the Surviving Issuer, as applicable, all of the Escrowed Property hereunder that has not been disbursed or applied by the Escrow Agent in accordance with the terms of this Agreement and the Indenture. Such delivery shall be without
warranty by or recourse to the Escrow Agent in its capacity as such, except as to the absence of any liens on the Escrowed Property created by the Escrow Agent, and shall be at the sole expense of the Issuer. 

Section 8. Security Interest Absolute. All rights of the Trustee for its own benefit and the benefit of the Holders of the Notes
and security interests hereunder, and all obligations of the Issuers hereunder, shall be absolute and unconditional irrespective of: 

(a) any lack of validity or enforceability of the Indenture or any other agreement or instrument relating thereto; 

  
 15 

 (b) any change in the time, manner or place of payment of, or in any other term
of, all or any of the Secured Obligations, or any other amendment or waiver of or any consent to any departure from the Indenture; 

(c) any exchange, surrender, release or non-perfection of any Liens on any other collateral for all or any of the Secured
Obligations; or 
 (d) to the extent permitted by applicable law, any other circumstance which might otherwise constitute a
defense available to, or a discharge of, the Issuers in respect of the Secured Obligations or of this Agreement. 
 Section 9.
Miscellaneous. 
 (a) Waiver. Any party hereto may specifically waive any breach of this Agreement by any other
party, but no such waiver shall be deemed to have been given unless such waiver is in writing, signed by the waiving party and specifically designating the breach waived, nor shall any such waiver constitute a continuing waiver of similar or other
breaches. 
 (b) Invalidity. If for any reason whatsoever any one or more of the provisions of this Agreement shall be
held or deemed to be inoperative, unenforceable or invalid in a particular case or in all cases, such circumstances shall not have the effect of rendering any of the other provisions of this Agreement inoperative, unenforceable or invalid, and the
inoperative, unenforceable or invalid provision shall be construed as if it were written so as to effectuate, to the maximum extent possible, the parties’ intent. 

(c) Assignment. This Agreement is personal to the parties hereto, and the rights and duties of the Issuers hereunder
shall not be assignable except with the prior written consent of the other parties. Notwithstanding the foregoing, this Agreement shall inure to and be binding upon the parties and their successors and permitted assigns. 

(d) Benefit. This Agreement shall be binding upon the parties hereto and their successors and permitted assigns. Nothing
in this Agreement, express or implied, shall give to any person, other than the parties hereto and their successors hereunder any benefit or any legal or equitable right, remedy or claim under this Agreement. 

(e) Entire Agreement; Amendments. This Agreement and the Indenture contain the entire agreement among the parties with
respect to the subject matter hereof and supersede any and all prior agreements, understandings and commitments, whether oral or written. Any amendment or waiver of any provision of this Agreement and any consent to any departure by the Issuers from
any provision of this Agreement shall be effective only if made or duly given in 

  
 16 

 
compliance with all of the terms and provisions of the Indenture, and neither the Escrow Agent nor the Trustee shall be deemed, by any act, delay, indulgence, omission or otherwise, to have
waived any right or remedy hereunder or to have acquiesced in any Default or Event of Default or in any breach of any of the terms and conditions hereof; provided, for the avoidance of doubt, that the parties hereto may amend or supplement
this Agreement without the consent of any Holder (as defined in the Indenture) in order to (x) cure any ambiguity, omission, mistake, defect or inconsistency or (y) to conform the text of this Agreement to any provision of the
“Description of the Notes” section of the Offering Memorandum to the extent that such section in such “Description of the Notes” was intended to be a verbatim recitation of a provision of this Agreement. No single or partial
exercise of any right, power or privilege hereunder shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege. A waiver by the Escrow Agent or the Trustee of any right or remedy hereunder on any one
occasion shall not be construed as a bar to any right or remedy that the Escrow Agent or the Trustee would otherwise have on any future occasion. The rights and remedies herein provided are cumulative, may be exercised singly or concurrently and are
not exclusive of any rights or remedies provided by law. 
 (f) Notices. All notices and other communications required
or permitted to be given or made under this Agreement shall be in writing and shall be deemed to have been duly given and received when actually received (i) on the day of delivery; (ii) three Business Days following the day sent, when
sent by United States certified mail, postage and certification fee prepaid, return receipt requested, addressed as set forth below; (iii) when transmitted by telecopy to the telecopy number set forth below with verbal confirmation of receipt
by the telecopy operator; or (iv) one Business Day following the day timely delivered to a next-day air courier addressed as set forth below: 

To the Escrow Agent: 

Wilmington Trust, National Association 

Rodney Square North 
 1100 North
Market Street 
 Wilmington, DE 19890 

Facsimile: (302) 636-4145 

Attention: W. Thomas Morris, II 

To the Trustee: 
 Wilmington
Trust, National Association 
 Rodney Square North 

1100 North Market Street 

Wilmington, DE 19890 

Facsimile: (302) 636-4145 

Attention: Hilton Notes Administrator 

  
 17 

 To the Issuers, the Surviving Issuer or the Company: 

Hilton Worldwide Holdings, Inc. 

7930 Jones Branch Drive, Suite 1100 

McLean, Virginia 22102 

Facsimile: (703) 883-6188 

Attention: Kristin A. Campbell, Executive Vice President and General Counsel 

With a copy to (which shall not constitute notice): 

Simpson Thacher & Bartlett LLP 

425 Lexington Avenue 
 New York,
NY 10017 
 Facsimile: (212) 455-2502 

Attention: Edgar J. Lewandowski 
 or at such
other address as the specified entity most recently may have designated in writing in accordance with this Section 9(f). Notwithstanding the foregoing, notices and other communications to the Trustee or the Escrow Agent pursuant to clauses
(ii) and (iv) of this Section 9(f) shall not be deemed duly given and received until actually received by the Trustee or the Escrow Agent, as applicable, at its address set forth above. 

(g) Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original
but all of which together shall constitute one and the same instrument. 
 (h) Captions. Captions in this Agreement
are for convenience only and shall not be considered or referred to in resolving questions of interpretation of this Agreement. 

(i) Choice of Law; Submission to Jurisdiction. THIS AGREEMENT, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR
RELATED TO THIS AGREEMENT, SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. THE PARTIES TO THIS AGREEMENT HEREBY AGREE THAT JURISDICTION OVER SUCH PARTIES AND OVER THE SUBJECT MATTER OF ANY ACTION OR PROCEEDING ARISING UNDER
THIS AGREEMENT MAY BE EXERCISED BY A COMPETENT COURT OF THE CITY AND STATE OF NEW YORK, OR BY A COMPETENT UNITED STATES COURT, SITTING IN NEW YORK CITY. EACH OF THE ISSUERS, THE TRUSTEE AND THE ESCROW AGENT HEREBY SUBMITS TO THE PERSONAL
JURISDICTION OF SUCH COURTS. EACH OF THE PARTIES HERETO WAIVES THE RIGHT TO A TRIAL BY JURY AND TO ASSERT COUNTERCLAIMS OTHER THAN MANDATORY COUNTERCLAIMS IN ANY ACTION OR PROCEEDING RELATING TO OR ARISING FROM, DIRECTLY OR INDIRECTLY, THIS
AGREEMENT. EACH ISSUER HEREBY WAIVES 

  
 18 

 
PERSONAL SERVICE OF PROCESS AND CONSENTS TO SERVICE OF PROCESS BY CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED, DIRECTED TO IT AT THE ADDRESS LAST SPECIFIED FOR NOTICES HEREUNDER, AND
SUCH SERVICE SHALL BE DEEMED COMPLETED TEN (10) CALENDAR DAYS AFTER THE SAME IS SO MAILED. FOR PURPOSES OF THE UCC, NEW YORK SHALL BE THE ESCROW AGENT’S JURISDICTION. 

(j) Representations and Warranties of Issuers. Each Issuer hereby represents and warrants that this Agreement has been
duly authorized, executed and delivered on its behalf and constitutes its legal, valid and binding obligation, enforceable in accordance with its terms (except as the enforcement thereof may be limited by bankruptcy, reorganization, insolvency
(including without limitation, all laws relating to fraudulent transfers), moratorium or other laws relating to or affecting creditors’ rights and remedies generally and except as the enforcement thereof is subject to equitable principles
regardless of whether enforcement is considered in a proceeding at law or in equity). The execution, delivery and performance of this Agreement by the Issuers does not violate any applicable law or regulation to which the Issuers are subject and
does not require the consent of any governmental or other regulatory body to which the Issuers are subject, except for such consents and approvals as have been obtained and are in full force and effect. The Issuers are, with respect to the
Collateral delivered pursuant to this Agreement, the beneficial owners of such Collateral, free and clear of any Lien or claims of any Person (except for the security interest granted under this Agreement) and are the only “entitlement
holders” (as defined in Section 8-102(a)(7) of the UCC) of the Escrow Account and the “financial assets” (as defined in Section 8-102(a) of the UCC). 

(k) Representations and Warranties of Escrow Agent and Trustee. The Escrow Agent hereby represents and warrants that
this Agreement has been duly authorized, executed and delivered on its behalf and constitutes its legal, valid and binding obligation enforceable against it in accordance with its terms. The Trustee hereby represents and warrants that the person
executing this Agreement is duly authorized to so execute this Agreement, and that this Agreement has been duly executed and delivered on its behalf. 

(l) No Adverse Interpretation of Other Agreements. This Agreement may not be used to interpret another pledge, security
or debt agreement of any Issuer or any subsidiary thereof. No such pledge, security or debt agreement may be used to interpret this Agreement. 

(m) Interpretation of Agreement. All terms not defined herein or in the Indenture shall have the meaning set forth in
the UCC, except where the context otherwise requires. To the extent a term or provision of this Agreement relating to the Trustee or the Issuers conflicts with the Indenture, the Indenture shall control with respect to the subject matter of such
term or provision. Acceptance of or acquiescence in a course of performance rendered under this Agreement shall not 

  
 19 

 
be relevant to determine the meaning of this Agreement even though the accepting or acquiescing party had knowledge of the nature of the performance and opportunity for objection. 

(n) Survival of Provisions. All representations, warranties and covenants of the Issuers contained herein shall survive
the execution and delivery of this Agreement, and shall terminate only upon the termination of this Agreement. 
 (o)
Patriot Act. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. For
a non- individual person such as a business entity, a charity, a trust or other legal entity, the Escrow Agent will ask for documentation to verify its formation and existence as a legal entity. The Escrow Agent may also ask to see financial
statements, licenses, identification and authorization documents from individuals claiming authority to represent the entity or other relevant documentation. 

(p) Security Advice. The Issuers acknowledge that regulations of the Comptroller of the Currency grant the Issuers the
right to receive brokerage confirmations of the security transactions as they occur. The Issuers specifically waive such notification to the extent permitted by law and will receive periodic cash transaction statements that will detail all
investment transactions. 
 (q) Call Back Procedures. Concurrently with the execution of this Agreement, the Issuers
shall deliver to the Escrow Agent authorized signers’ forms in the form of Exhibit A-1 to this Escrow Agreement. The Escrow Agent is authorized to confirm each funds transfer instruction received in the name of the Issuers, whether in writing,
by telecopier or otherwise, by confirming via telephone call-back to an authorized individual of the applicable party as evidenced in Exhibit A-1, and the Escrow Agent may rely upon the confirmations of anyone purporting to be the person or persons
so designated. Once delivered to the Escrow Agent, Exhibit A-1 may be revised, supplemented or rescinded only in writing signed by an authorized representative of the applicable party in the manner set forth herein or therein. Such revisions,
supplements or rescissions shall be effective on the next Business Day after delivery thereof (or, if delivered after 2:00 p.m. (New York City time) on the second Business Day after delivery thereof) to the Escrow Agent at its notice address set
forth in Section 9(f) (or, if earlier, when countersigned by the Escrow Agent). If a revised Exhibit A-1 or a rescission of, or supplement to, an existing Exhibit A-1 is delivered to the Escrow Agent by an entity that is a successor-in-interest
to an Issuer (such as the Surviving Issuer), such document shall be accompanied by additional documentation reasonably requested by the Escrow Agent showing that such entity has succeeded to the rights and responsibilities of the applicable party
(which, for the avoidance of doubt, shall be deemed to be satisfactory to the Escrow Agent if in the form of a certificate of merger of the applicable entity). 

  
 20 

 
The Issuers agree that the security procedures set forth in this Section 9(q) are commercially reasonable. The Issuers understand that the Escrow Agent’s inability to receive or confirm
funds transfer instructions may result in a delay in accomplishing such funds transfer, and agree that the Escrow Agent shall not be liable for any loss caused by any such delay, except to the extent that such loss shall have been caused by the
gross negligence or willful misconduct of the Escrow Agent as finally determined by a court of competent jurisdiction. 
 [Signature Pages
Follow] 

  
 21 

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

					
	WILMINGTON TRUST, NATIONAL ASSOCIATION,
as Escrow Agent
		
	By:	 	 /s/ Thomas Morris, II

		 	Name:	 	W. Thomas Morris, II
		 	Title:	 	Vice President
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION,
not in its individual capacity but solely as Trustee
		
	By:	 	 /s/ Thomas Morris, II

		 	Name:	 	W. Thomas Morris, II
		 	Title:	 	Vice President

  
 [Signature Page to
Escrow Agreement] 

 
					
	HILTON ESCROW ISSUER LLC
		
	By:	 	 /s/ Sean M. Dell’Orto

		 	Name:	 	Sean M. Dell’Orto
		 	Title:	 	President
	
	Attest:
		
	By:	 	 /s/ Owen L. Wilcox

		 	Name:	 	Owen L. Wilcox
		 	Title:	 	Assistant Secretary
	
	HILTON ESCROW ISSUER CORP.
		
	By:	 	 /s/ Sean M. Dell’Orto

		 	Name:	 	Sean M. Dell’Orto
		 	Title:	 	President
	
	Attest:
		
	By:	 	 /s/ Owen L. Wilcox

		 	Name:	 	Owen L. Wilcox
		 	Title:	 	Assistant Secretary

  
 [Signature Page to
Escrow Agreement] 

 EXHIBIT A-1 

CERTIFICATE AS TO AUTHORIZED REPRESENTATIVES 

OF ISSUERS 
 Reference is made to
that certain Escrow Agreement, dated as of August 18, 2016 (the “Escrow Agreement”), among Wilmington Trust, National Association, as escrow agent and securities intermediary (in such capacities, the “Escrow Agent”),
Wilmington Trust, National Association, as trustee under the Indenture (as defined therein) (in such capacity, the “Trustee”), Hilton Escrow Issuer LLC, a Delaware limited liability company (the “Issuer”), and Hilton Escrow
Issuer Corp., a Delaware corporation (the “Co-Issuer” and, together with the Issuer, the “Issuers”). Each of the Issuers hereby designates each of the following persons as its authorized representatives for purposes of the Escrow
Agreement, and confirms that the title, contact information and specimen signature of each such person as set forth below is true and correct. Each such authorized representative is authorized to initiate and approve transactions of all types for
the Escrow Account established under the Escrow Agreement to which this certificate (this “Exhibit A-1”) is attached, on behalf of each Issuer. 
  

			
	 Name (print):
	  	Alexandra Neely
		
	 Specimen Signature:
	  	/s/ Alexandra Neely
		
	 Title:
	  	Senior Director
		
	 Telephone Number (required): 

 
 If more than one, list all applicable telephone
numbers.
	  	 Office: [ON FILE WITH ESCROW AGENT]
  

Cell: [ON FILE WITH ESCROW AGENT]

		
	 E-mail (required):
  

If more than one, list all applicable email addresses.
	  	 Email 1: [ON FILE WITH ESCROW AGENT]
  

Email 2:

  
 A-1 

			
	 Name (print):
	  	Frederick Schacknies
		
	 Specimen Signature:
	  	/s/ Frederick Schacknies
		
	 Title:
	  	Vice President
		
	 Telephone Number (required):
  

If more than one, list all applicable telephone numbers.
	  	 Office: [ON FILE WITH ESCROW AGENT]
  

Cell: [ON FILE WITH ESCROW AGENT]

		
	 E-mail (required):
  

If more than one, list all applicable email addresses.
	  	 Email 1: [ON FILE WITH ESCROW AGENT]
  

Email 2:

  

			
	 Name (print):
	  	Sean Dell’Orto
		
	 Specimen Signature:
	  	/s/ Sean Dell’Orto
		
	 Title:
	  	Senior Vice President
		
	 Telephone Number (required):
  

If more than one, list all applicable telephone numbers.
	  	 Office: [ON FILE WITH ESCROW AGENT]
  

Cell:

		
	 E-mail (required):
  

If more than one, list all applicable email addresses.
	  	 Email 1: [ON FILE WITH ESCROW AGENT]
  

Email 2:

  
 A-2 

 COMPLETE BELOW TO UPDATE EXHIBIT A-1: If the Issuers wish to update this Exhibit A-1, the
Issuers must complete, sign and send to Escrow Agent an updated copy of this Exhibit A-1 with such changes. Any updated Exhibit A-1 shall be effective on the next Business Day after delivery thereof (or, if delivered after 2:00 p.m. (New York City
time) on the second Business Day after delivery thereof) to the Escrow Agent at its notice address set forth in Section 9(f) of the Escrow Agreement (or, in each case, if earlier, when countersigned by the Escrow Agent) and shall supplement or
entirely supersede and replace any prior Exhibit A-1 to the Escrow Agreement.  
  

			
	HILTON ESCROW ISSUER LLC
		
	By:	 	  

		
	Name:	 	
		
	Title:	 	
		
	Date:	 	
	
	HILTON ESCROW ISSUER CORP.
		
	By:	 	  

		
	Name:	 	
		
	Title:	 	
		
	Date:	 	
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Escrow Agent
		
	By:	 	  

		
	Name:	 	
		
	Title:	 	
		
	Date:	 	

  
 A-3

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