Document:

EX-4.2

 Exhibit 4.2 

EXECUTION VERSION 

AMENDMENT NO. 2 TO THE TERM LOAN AGREEMENT 

AMENDMENT NO. 2 TO THE TERM LOAN AGREEMENT, dated as of April 14, 2022 (this “Amendment Agreement”),
between Constellation Brands, Inc., a Delaware corporation (the “Company”) and Bank of America, N.A., as Administrative Agent (as defined below) and as lender. 

PRELIMINARY STATEMENTS 

A. The Company entered into an Amended and Restated Term Loan Credit Agreement dated as of March 26, 2020, by and among
the Company, the Lenders party thereto and Bank of America, N.A., as administrative agent (in such capacity, “Administrative Agent”) for the Lenders party thereto (as amended by Amendment No. 1 to the Term Loan Agreement dated
as of June 10, 2021, the “Existing Credit Agreement”). 
 B. The parties hereto wish to amend the
Existing Credit Agreement on the terms set forth in this Amendment Agreement. 
 C. The Lenders who execute and deliver this
Amendment Agreement have agreed to amend the Existing Credit Agreement in the form attached as Annex A hereto (the Existing Credit Agreement, as so amended, being referred to as the “Amended Credit Agreement”) subject to the
satisfaction of the conditions set forth in Section 3 hereto. 
 NOW, THEREFORE, in consideration of the
premises and for other good and valuable consideration, the sufficiency and receipt of all of which are hereby acknowledged, the parties hereto hereby agree as follows: 

SECTION 1. Definitions. Capitalized terms not otherwise defined in this Amendment Agreement have the same meanings as
specified in the Amended Credit Agreement or, if not defined therein, in the Existing Credit Agreement. 
 SECTION 2.
Amendment. Effective as of the Amendment Effective Date (as defined below): 
  

	 	 a)
	 the Existing Credit Agreement is hereby amended in the form of Annex A attached hereto;

  

	 	 b)
	 Exhibit C of the Existing Credit Agreement (Form of Committed Loan Notice) is hereby amended in the
form of Annex B attached hereto; 

  

	 	 c)
	 Exhibit F of the Existing Credit Agreement (Form Compliance Certificate) is hereby amended in the
form of Annex C attached hereto; 

  

	 	 d)
	 Schedule 6.01 of the Existing Credit Agreement (Existing Indebtedness) is hereby amended in the form
of Annex D attached hereto; and 

  

	 	 e)
	 Schedule 9.01 of the Existing Credit Agreement (Notices) is hereby amended in the form of Annex
E attached hereto. 

  
 1 

 SECTION 3. Conditions to Effectiveness of this Amendment Agreement.
This Amendment Agreement shall become effective (such date, the “Amendment Effective Date”) when the Administrative Agent shall have received counterparts to this Amendment Agreement, duly executed and delivered by the Borrower, the
Administrative Agent and all of the Lenders under the Existing Credit Agreement. 
 SECTION 4. Representations and
Warranties. The Borrower represents and warrants as follows as of the date hereof: 
 (a) The execution, delivery and
performance by the Borrower of this Amendment Agreement has been duly authorized by all necessary corporate or other organizational action. The execution, delivery and performance by the Borrower of this Amendment Agreement, will not
(a) violate the organizational documents of the Borrower, (b) violate any law applicable to the Borrower, (c) violate or result in a default or require any consent or approval under any indenture, agreement or other instrument binding
upon the Borrower or its property, or give rise to a right thereunder to require any payment to be made by the Borrower, except for violations, defaults, failures to obtain any consent or approval or the creation of such rights that could not
reasonably be expected to result in a Material Adverse Effect, and (d) result in the creation or imposition of any Lien on any property of the Borrower. 

(b) This Amendment Agreement has been duly executed and delivered by the Borrower. Each of this Amendment Agreement, the
Amended Credit Agreement and each other Loan Document to which the Borrower is a party, after giving effect to the amendments pursuant to this Amendment Agreement, constitutes a legal, valid and binding obligation of the Borrower, enforceable
against the Borrower in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether
considered in a proceeding in equity or at law. 
 (c) Each of the representations and warranties of the Borrower contained
in Article III of the Amended Credit Agreement or any other Loan Document, is true and correct in all material respects on and as of the date hereof; provided that, to the extent that such representations and warranties specifically refer to an
earlier date, they are true and correct in all material respects as of such earlier date; provided, further, that any representation and warranty that is qualified as to “materiality” or “Material Adverse Effect” is
true and correct (after giving effect to any qualification therein) in all respects on such respective dates. 
 (d) No
Default or Event of Default shall have occurred and be continuing. 
 SECTION 5. Acknowledgment and Reaffirmation of
Obligations. The Borrower acknowledges and consents to all terms and conditions of this Amendment Agreement and the Amended Credit Agreement and agrees that this Amendment Agreement and the Amended Credit Agreement and all documents executed in
connection herewith do not operate to reduce or discharge the Borrower’s obligations under the Loan Documents other than as specified herein. The Company hereby ratifies and confirms its obligations under the Loan Documents. The Borrower
acknowledges that from and after the date hereof, all Loans made under the Amended Credit Agreement from time to time outstanding shall be deemed to be Obligations. 

  
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 SECTION 6. Terms Applicable to Existing LIBOR Loans. From and after
the Amendment Effective Date, the parties hereto agree that any request for a new Eurocurrency Rate Loan (as defined in the Existing Credit Agreement) denominated in Dollars, or to continue an existing Eurocurrency Rate Loan (as defined in the
Existing Credit Agreement) denominated in Dollars, shall be deemed to be a request for a new Loan bearing interest at Term SOFR with an Interest Period of one (1) month; provided, that, to the extent any Loan bearing interest at the
Eurocurrency Rate (as defined in the Existing Credit Agreement) is outstanding on the Amendment Effective Date, such Loan shall continue to bear interest at the Eurocurrency Rate (as defined in the Existing Credit Agreement) until the end of the
current Interest Period or payment period applicable to such Loan. 
 SECTION 7. Execution in Counterparts. This
Amendment 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. Delivery by facsimile or electronic transmission of an executed
counterpart of a signature page to this Amendment Agreement shall be effective as delivery of an original executed counterpart of this Amendment Agreement. 

SECTION 8. Successors. The terms of this Amendment Agreement shall be binding upon, and shall inure for the benefit of,
the parties hereto and their respective successors and assigns. 
 SECTION 9. Governing Law; Jurisdiction; Consent to
Service of Process; Waiver of Jury Trial. The provisions set forth in Sections 9.09 and 9.10 of the Amended Credit Agreement are incorporated herein by reference, mutatis mutandis. 

SECTION 10. Signatures. This Amendment Agreement and any document, amendment, approval, consent, information, notice,
certificate, request, statement, disclosure or authorization related to this Amendment Agreement (each a “Communication”), including Communications required to be in writing, may be in the form of an Electronic Record and may be
executed using Electronic Signatures. The Borrower agrees that any Electronic Signature on or associated with any Communication shall be valid and binding on the Borrower to the same extent as a manual, original signature, and that any Communication
entered into by Electronic Signature, will constitute the legal, valid and binding obligation of the Borrower enforceable against such in accordance with the terms thereof to the same extent as if a manually executed original signature was
delivered. Any Communication may be executed in as many counterparts as necessary or convenient, including both paper and electronic counterparts, but all such counterparts are one and the same Communication. For the avoidance of doubt,
the authorization under this paragraph may include, without limitation, use or acceptance by the Administrative Agent and each of the Lenders of a manually signed paper Communication which has been converted into electronic form (such as scanned
into PDF format), or an electronically signed Communication converted into another format, for transmission, delivery and/or retention. The Administrative Agent and each of the Lenders may, at its option, create one or more copies of any
Communication in the form of an imaged Electronic Record (“Electronic Copy”), which shall be deemed created in the ordinary course of such Person’s business, and destroy the original paper document. All Communications in
the form of an Electronic Record, including an Electronic Copy, shall be considered an original for all purposes, and shall have the same legal effect, validity and enforceability as a paper record. Notwithstanding anything contained herein to the
contrary, the Administrative Agent is under no 

  
 3 

 
obligation to accept an Electronic Signature in any form or in any format unless expressly agreed to by the Administrative Agent pursuant to procedures approved by it; provided, further, without
limiting the foregoing, (a) to the extent the Administrative Agent has agreed to accept such Electronic Signature, the Administrative Agent and each of the Lenders shall be entitled to rely on any such Electronic Signature purportedly given by
or on behalf of the Borrower without further verification and (b) upon the request of the Administrative Agent or any Lender, any Electronic Signature shall be promptly followed by such manually executed counterpart. For purposes hereof,
“Electronic Record” and “Electronic Signature” shall have the meanings assigned to them, respectively, by 15 USC §7006, as it may be amended from time to time. 

[The remainder of this page is intentionally left blank] 

  
 4 

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

			
	 CONSTELLATION BRANDS, INC.

		
	 By:
	 	 /s/ Oksana S. Dominach

		 	 Name: Oksana S. Dominach

		 	 Title:   Senior Vice President and Treasurer

 [Constellation – Amendment No. 2] 

  
 5 

 
			
	 BANK OF AMERICA, N.A.

individually as Administrative Agent

		
	 By:
	 	 /s/ Anthony Hoye

		 	 Name: Anthony Hoye

		 	 Title:  Director

 [Constellation – Amendment No. 2] 

  
 6 

 By executing this signature page as a Lender under the Existing Credit Agreement, the
undersigned institution agrees to the terms of the Amendment Agreement and the Amended Credit Agreement. 
  

			
	 BANK OF AMERICA, N.A., individually as a Lender

		
	 By:
	 	 /s/ Anthony Hoye

		 	 Name: Anthony Hoye

		 	 Title:   Director

 [Constellation – Amendment No. 2] 

  
 7 

 Annex A 

 Annex A 

AMENDED AND RESTATED 
 TERM LOAN
CREDIT AGREEMENT 
 dated as of 

March 26, 2020 
 among 

CONSTELLATION BRANDS, INC., 
 as
the Company, 
 BANK OF AMERICA, N.A., 

as Administrative Agent and Lender, 

BofA SECURITIES, INC., 
 as Sole
Lead Arranger and Sole Bookrunner. 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	ARTICLE I	  

	
	Definitions	  

			
	 SECTION 1.01.
	  	 Defined Terms
	  	 	1	 
	 SECTION 1.02.
	  	 Classification of Loans and Borrowings
	  	 	20	 
	 SECTION 1.03.
	  	 Terms Generally
	  	 	20	 
	 SECTION 1.04.
	  	 Accounting Terms; GAAP
	  	 	21	 
	 SECTION 1.05.
	  	 Payments on Business Days
	  	 	21	 
	 SECTION 1.06.
	  	 Rounding
	  	 	21	 
	 SECTION 1.07.
	  	 Times of Day
	  	 	21	 
	 SECTION 1.08.
	  	 Currency Equivalents
	  	 	21	 
	 SECTION 1.09.
	  	 Interest Rates
	  	 	22	 
	 SECTION 1.10.
	  	 LLC Divisions
	  	 	22	 
	 SECTION 1.11.
	  	 Effect of Restatement
	  	 	22	 
	
	ARTICLE II	  

	
	The Credits	  

			
	 SECTION 2.01.
	  	 Outstanding Loans; Commitments
	  	 	22	 
	 SECTION 2.02.
	  	 Loans and Borrowings
	  	 	23	 
	 SECTION 2.03.
	  	 Requests for Borrowings
	  	 	23	 
	 SECTION 2.04.
	  	 [Reserved]
	  	 	24	 
	 SECTION 2.05.
	  	 [Reserved]
	  	 	24	 
	 SECTION 2.06.
	  	 Funding of Borrowing
	  	 	24	 
	 SECTION 2.07.
	  	 Illegality
	  	 	24	 
	 SECTION 2.08.
	  	 Termination and Reduction of Commitments
	  	 	25	 
	 SECTION 2.09.
	  	 Repayment of Loans; Evidence of Debt
	  	 	25	 
	 SECTION 2.10.
	  	 Prepayment of Loans
	  	 	26	 
	 SECTION 2.11.
	  	 Fees
	  	 	26	 
	 SECTION 2.12.
	  	 Interest
	  	 	26	 
	 SECTION 2.13.
	  	 Inability to Determine Rates
	  	 	27	 
	 SECTION 2.14.
	  	 Increased Costs
	  	 	27	 
	 SECTION 2.15.
	  	 Break Funding Payments
	  	 	28	 
	 SECTION 2.16.
	  	 Taxes
	  	 	28	 
	 SECTION 2.17.
	  	 Payments Generally; Pro Rata Treatment; Sharing of Setoffs
	  	 	30	 
	 SECTION 2.18.
	  	 Mitigation Obligations; Replacement of Lenders
	  	 	32	 
	 SECTION 2.19.
	  	 Replacement of Term SOFR or Successor Rate
	  	 	33	 
	 SECTION 2.20.
	  	 Extended Term Loans
	  	 	34	 
	
	ARTICLE III	  

	
	Representations and Warranties	  

			
	 SECTION 3.01.
	  	 Organization; Powers; Subsidiaries
	  	 	35	 
	 SECTION 3.02.
	  	 Authorization; Enforceability
	  	 	35	 
	 SECTION 3.03.
	  	 Governmental Approvals; No Conflicts
	  	 	36	 
	 SECTION 3.04.
	  	 Financial Statements; Financial Condition; No Material Adverse Change
	  	 	36	 
	 SECTION 3.05.
	  	 Properties
	  	 	36	 
	 SECTION 3.06.
	  	 Litigation
	  	 	36	 
	 SECTION 3.07.
	  	 Compliance with Laws
	  	 	36	 

  
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	 	  	 	  	Page	 
	 SECTION 3.08.
	  	 Investment Company Status
	  	 	37	 
	 SECTION 3.09.
	  	 Disclosure
	  	 	37	 
	 SECTION 3.10.
	  	 Federal Reserve Regulations
	  	 	37	 
	 SECTION 3.11.
	  	 PATRIOT Act
	  	 	37	 
	 SECTION 3.12.
	  	 Sanctions
	  	 	37	 
	 SECTION 3.13.
	  	 Anti-Corruption
	  	 	38	 
	
	ARTICLE IV	  

	
	Conditions	  

	 SECTION 4.01.
	  	 Closing Date
	  	 	38	 
	
	ARTICLE V	  

	
	Affirmative Covenants	  

			
	 SECTION 5.01.
	  	 Financial Statements and Other Information
	  	 	39	 
	 SECTION 5.02.
	  	 Notice of Material Events
	  	 	40	 
	 SECTION 5.03.
	  	 Existence; Conduct of Business
	  	 	41	 
	 SECTION 5.04.
	  	 Payment of Taxes
	  	 	41	 
	 SECTION 5.05.
	  	 Maintenance of Properties; Insurance
	  	 	41	 
	 SECTION 5.06.
	  	 Inspection Rights
	  	 	41	 
	 SECTION 5.07.
	  	 Compliance with Laws
	  	 	41	 
	 SECTION 5.08.
	  	 Use of Proceeds
	  	 	41	 
	
	ARTICLE VI	  

	
	Negative Covenants	  

			
	 SECTION 6.01.
	  	 Indebtedness of Subsidiaries
	  	 	42	 
	 SECTION 6.02.
	  	 Liens
	  	 	44	 
	 SECTION 6.03.
	  	 Fundamental Changes
	  	 	46	 
	 SECTION 6.04.
	  	 [Reserved]
	  	 	46	 
	 SECTION 6.05.
	  	 [Reserved]
	  	 	46	 
	 SECTION 6.06.
	  	 [Reserved]
	  	 	46	 
	 SECTION 6.07.
	  	 Transactions with Affiliates
	  	 	46	 
	 SECTION 6.08.
	  	 [Reserved].
	  	 	47	 
	 SECTION 6.09.
	  	 Financial Covenants.
	  	 	47	 
	 SECTION 6.10.
	  	 Sale and Leaseback Transactions
	  	 	47	 
	
	ARTICLE VII	  

	
	Events of Default	  

	
	ARTICLE VIII	  

	
	The Administrative Agent	  

	
	ARTICLE IX	  

	
	Miscellaneous	  

			
	 SECTION 9.01.
	  	 Notices
	  	 	53	 
	 SECTION 9.02.
	  	 Waivers; Amendments
	  	 	54	 

  
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	 	  	 	  	Page	 
	 SECTION 9.03.
	  	 Expenses; Indemnity; Damage Waiver
	  	 	55	 
	 SECTION 9.04.
	  	 Successors and Assigns
	  	 	57	 
	 SECTION 9.05.
	  	 Survival
	  	 	59	 
	 SECTION 9.06.
	  	 Counterparts; Integration; Effectiveness
	  	 	59	 
	 SECTION 9.07.
	  	 Severability
	  	 	59	 
	 SECTION 9.08.
	  	 Right of Setoff
	  	 	60	 
	 SECTION 9.09.
	  	 Governing Law; Jurisdiction; Consent to Service of Process
	  	 	60	 
	 SECTION 9.10.
	  	 WAIVER OF JURY TRIAL
	  	 	61	 
	 SECTION 9.11.
	  	 Headings
	  	 	61	 
	 SECTION 9.12.
	  	 Confidentiality
	  	 	61	 
	 SECTION 9.13.
	  	 USA PATRIOT Act
	  	 	62	 
	 SECTION 9.14.
	  	 Interest Rate Limitation
	  	 	62	 
	 SECTION 9.15.
	  	 No Fiduciary Duty
	  	 	62	 
	 SECTION 9.16.
	  	 Judgment Currency
	  	 	62	 
	 SECTION 9.17.
	  	 Electronic Execution of Assignments and Certain Other Documents
	  	 	63	 
	 SECTION 9.18.
	  	 Acknowledgement and Consent to Bail-In of Affected
Financial Institutions
	  	 	63	 
	 SECTION 9.19.
	  	 Acknowledgment Regarding Any Supported QFCs.
	  	 	64	 

  
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	 SCHEDULES:
	  		  	
			
	 Schedule 1.01
	  	–	  	[Reserved]
	 Schedule 2.01
	  	–	  	Commitments
	 Schedule 3.01
	  	–	  	Subsidiaries
	 Schedule 3.06
	  	–	  	Disclosed Matters
	 Schedule 6.01
	  	–	  	Existing Indebtedness
	 Schedule 6.02
	  	–	  	Existing Liens
	 Schedule 9.01
	  	–	  	Notices
			
	 EXHIBITS:
	  		  	
			
	 Exhibit A
	  	–	  	Form of Assignment and Assumption
	 Exhibit B
	  	–	  	Form of Term Note
	 Exhibit C
	  	–	  	Form of Committed Loan Notice
	 Exhibit D
	  	–	  	Form of Solvency Certificate
	 Exhibit E-1
	  	–	  	Form of U.S. Tax Certificate (For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)
	 Exhibit E-2
	  	–	  	Form of U.S. Tax Certificate (For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)
	 Exhibit E-3
	  	–	  	Form of U.S. Tax Certificate (For Non-U.S. Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)
	 Exhibit E-4
	  	–	  	Form of U.S. Tax Certificate (For Non-U.S. Participants That Are Partnerships For U.S. Federal Income Tax Purposes)
	 Exhibit F
	  	–	  	Form of Compliance Certificate
	 Exhibit G
	  	–	  	Form of Officer’s Certificate

  

  
 -iv- 

 AMENDED AND RESTATED TERM LOAN CREDIT AGREEMENT (this
“Agreement”) dated as of March 26, 2020 among CONSTELLATION BRANDS, INC., a Delaware corporation (the “Company”), the Lenders party hereto, and BANK OF AMERICA, N.A., as Administrative Agent. 

The parties hereto agree to the following: 

ARTICLE I 
 Definitions 

SECTION 1.01. Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 

“2020 Term Loan Restatement Agreement” means the Restatement Agreement dated as of March 26, 2020 by and among the
Borrower, the Guarantors (as defined in the Original Credit Agreement), the Administrative Agent and the Lenders party thereto. 

“Act” has the meaning assigned in Section 9.13. 

“Additional Credit Extension Amendment” means an amendment to this Agreement (which may, at the option of the Administrative
Agent, be in the form of an amendment and restatement of this Agreement) providing for any Replacement Term Loans or Extended Term Loans which shall be consistent with the applicable provisions of this Agreement relating to Replacement
Term Loans or Extended Term Loans and otherwise satisfactory to the Administrative Agent and the Borrower. 
 “Administrative
Agent” means Bank of America, in its capacity as administrative agent for the Lenders hereunder, or any successor administrative agent. 

“Administrative Agent’s Office” means the Administrative Agent’s address and, as appropriate, account as set forth
on Schedule 9.01 or such other address or account as the Administrative Agent may from time to time notify to the Borrower and the Lenders. 

“Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent.

 “Affected Financial Institution” means (a) any EEA Financial Institution, or (b) any UK Financial Institution.

 “Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Agent Parties” has
the meaning assigned in Section 9.01(c). 
 “Agreement” has the meaning assigned in the preamble hereto. 

“Amendment No. 1” means the Amendment No. 1 to the Term Loan Credit Agreement, dated as of
June 10, 2021, by and among the Company, the Administrative Agent and the Lenders party thereto. 
 “Amendment
No. 1 Effective Date” means June 10, 2021. 
 “Amendment No. 2” means
the Amendment No. 2 to the Term Loan Agreement, dated as of April 14, 2022, by and among the Company, the Administrative Agent and the Lenders party thereto. 

“Amendment No. 2 Effective Date” means April 14, 2022. 

  
 1 

 “Applicable Law” means, as to any Person, all Applicable Laws binding upon
such Person or to which such a Person is subject. 
 “Applicable Rate” means, (x) from and after the Amendment
No. 1 Effective Date to and including December 31, 2021, 0.625% for Term SOFR Loans and 0.000% for Base Rate Loans, (y) from and after January 1, 2022, until the Amendment No. 2 Effective Date (but subject to Section 6
of Amendment No. 2) the following percentages per annum that are applicable from time to time, based upon the Debt Rating as set forth below: 
  

											
	 Pricing Level
	  	 Debt Ratings S&P/Moody’s
	  	Applicable Rate	 
	  	Eurodollar Loans (as defined in Amendment No. 2)	 	 	Base Rate Loans	 
	1	  	BBB+/Baa1 or better	  	 	0.75	% 	 	 	0.000	% 
	2	  	BBB/Baa2	  	 	0.875	% 	 	 	0.000	% 
	3	  	BBB-/Baa3	  	 	1.000	% 	 	 	0.000	% 
	4	  	BB+/Ba1 or worse	  	 	1.375	% 	 	 	0.375	% 

 and (z) from and after the Amendment No. 2 Effective Date (but subject to Section 6 of Amendment No. 2),
the following percentages per annum that are applicable from time to time, based upon the Debt Rating as set forth below: 
  

											
	 Pricing Level
	  	 Debt Ratings S&P/Moody’s
	  	Applicable Rate	 
	  	Term SOFR Loans	 	 	Base Rate Loans	 
	1	  	BBB+/Baa1 or better	  	 	0.75	% 	 	 	0.000	% 
	2	  	BBB/Baa2	  	 	0.875	% 	 	 	0.000	% 
	3	  	BBB-/Baa3	  	 	1.000	% 	 	 	0.000	% 
	4	  	BB+/Ba1 or worse	  	 	1.375	% 	 	 	0.375	% 

 For purposes of the foregoing, “Debt Rating” means, as of any date of determination, the
rating as determined by either S&P or Moody’s (collectively, the “Debt Ratings”) of the Borrower’s non-credit-enhanced, senior unsecured long-term debt; provided that
(a) if the respective Debt Ratings issued by the foregoing rating agencies differ by one level, then the Pricing Level for the higher of such Debt Ratings shall apply (with the Debt Rating for Pricing Level 1 being the highest and the Debt
Rating for Pricing Level 4 being the lowest); (b) if there is a split in Debt Ratings of more than one level, then the Pricing Level that is one level lower than the Pricing Level of the higher Debt Rating shall apply; (c) if the
Borrower has only one Debt Rating, the Pricing Level that is one level lower than that of such Debt Rating shall apply; and (d) if the Borrower does not have any Debt Rating, Pricing Level 4 shall apply. 

Initially, the Applicable Rate shall be determined based upon the Debt Rating specified in the certificate delivered pursuant to
Section 4.01(h). Thereafter, each change in the Applicable Rate resulting from a publicly announced change in the Debt Rating shall be effective, in the case of an upgrade, during the period commencing on the date of delivery by the Borrower to
the Administrative Agent of notice thereof pursuant to Section 5.02(b) and ending on the date immediately preceding the effective date of the next such change and, in the case of a downgrade, during the period commencing on the date of the
public announcement thereof and ending on the date immediately preceding the effective date of the next such change. 
 “Approved
Fund” means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 

“Arranger” means BofA Securities, Inc. 

“Assignee Group” means two or more Eligible Assignees that are Affiliates of one another or two or more Approved Funds
managed by the same investment advisor. 
 “Assignment and Assumption” means an assignment and assumption agreement entered
into by a Lender and an assignee (with the consent of any party whose consent is required by Section 9.04 of this Agreement), and 

  
 2 

 
accepted by the Administrative Agent, in the form of Exhibit A or any other form (including electronic documentation generated by use of an electronic
platform) approved by the Administrative Agent. 
 “Attributable Indebtedness” in respect of a Sale and Leaseback
Transaction means (i) if the lease established pursuant to such transaction creates a Finance Lease Obligation, such Finance Lease Obligation and (ii) if the lease established pursuant to such transaction does not create a Finance Lease
Obligation, the net present value of the remaining rent under the lease established thereby discounted at a rate equal to the market yield of the Company’s senior unsecured debt securities (as determined in good faith by the Company). 

“Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the
applicable Resolution Authority in respect of any liability of an Affected Financial Institution. 

“Bail-In Legislation” means, (a) with respect to any EEA Member Country
implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, rule, regulation or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the
United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings). 

“Bank of America” means Bank of America, N.A. and its successors. 

“Base Rate” means, for any day, a fluctuating rate per annum equal to the highest of (a) the Federal Funds Effective
Rate plus 1⁄2 of 1%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,”
and (c) Term SOFR plus 1.00%. The “prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a
reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such prime rate announced by Bank of America shall take effect at the opening of business on the day specified in the public
announcement of such change. “Base Rate,” when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Base Rate. 

“Beneficial Ownership Certification” means a certification regarding beneficial ownership required by the Beneficial
Ownership Regulation. 
 “Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230. 

“Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to
Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or
Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan.” 
 “BHC Act
Affiliate” has the meaning assigned in Section 9.19(b). 
 “Board” means the Board of Governors of the
Federal Reserve System of the United States of America. 
 “Borrower” means the Company. 

“Borrower Materials” has the meaning assigned in Section 5.01. 

“Borrowing” means Loans of the same Class and Type, made, converted or continued on the same date and, in the case of
Term SOFR Loans, as to which a single Interest Period is in effect. 
 “Borrowing Request” means a request by the Borrower
for a Borrowing in accordance with Section 2.03. 

  
 3 

 “Business Day” means any day other than a Saturday, Sunday or other day on
which commercial banks are authorized to close under the Laws of, or are in fact closed in, the state where the Administrative Agent’s Office is located. 

“Canadian AML Acts” means applicable Canadian law regarding anti-money laundering, anti-terrorist financing, government
sanction and “know your client” matters, including the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada). 

“Canopy” means Canopy Growth Corporation, a corporation existing under the federal Laws of Canada. 

“Canopy Investment” means that certain investment made by CBG to purchase from Canopy (i) shares that resulted in CBG
and its affiliates holding approximately 38% of Canopy on a fully diluted basis as of August 14, 2018 and (ii) warrants that, if exercised, would have resulted in CBG and its affiliates holding approximately 55% of Canopy on a
fully-diluted basis pursuant to the Investment Agreements executed on August 14, 2018. 
 “CBG” means CBG Holdings
LLC, a Delaware limited liability company, an indirect wholly-owned Subsidiary of the Company. 
 “Change in Control” means
the acquisition of beneficial ownership, directly or indirectly, by any Person or group (within the meaning of the Securities Exchange Act of 1934 and the rules of the SEC thereunder as in effect on the Closing Date) (other than the Permitted
Holders), of Equity Interests representing more than 35% of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests of the Borrower (provided that the Permitted Holders in the aggregate
“beneficially own” (as so defined) Equity Interests having a lesser percentage of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests of the Borrower than such other Person or group and do
not have the right or ability by voting power, contract or otherwise to elect or designate for election a majority of the Board of Directors of the Borrower). 

“Change in Law” means (a) the adoption of any law, treaty, rule or regulation after the Closing Date, (b) any
change in any law, treaty, rule or regulation or in the administration, interpretation, implementation or application thereof by any Governmental Authority after the Closing Date or (c) compliance by any Lender (or, for purposes of
Section 2.14(b), by any lending office of such Lender or by such Lender’s holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued
after the Closing Date; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in
connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or
foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law,” regardless of the date enacted, adopted, implemented or issued. 

“Charges” has the meaning assigned to such term in Section 9.14. 

“Civil Asset Forfeiture Reform Act” means the Civil Asset Forfeiture Reform Act of 2000
(18 U.S.C. Sections 983 et seq.), as amended from time to time, and any successor statute. 
 “Class”
(x) when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are Term Loans of any series, Extended Term Loans of any series or Replacement Term Loans of any series or (y) when
used with respect to any Commitment, refers to whether such Commitment is a Term Loan Commitment of any series. 
 “Closing
Date” means the date on which the conditions specified in Section 4.01 of this Agreement are satisfied. 

“CME” means CME Group Benchmark Administration Limited. 

“Code” means the Internal Revenue Code of 1986, as amended. 

  
 4 

 “Committed Loan Notice” means a notice of (a) borrowing of Loans,
(b) a conversion of Loans from one Type to the other or (c) a continuation of Term SOFR Loans pursuant to Section 2.03, substantially in the form of Exhibit C (or such other form as may be approved
by the Administrative Agent) (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the
Borrower. 
 “Commitment” means a Term Loan Commitment. 

“Communication” means this Agreement, any Loan Document and any document, any amendment, approval, consent, information,
notice, certificate, request, statement, disclosure or authorization related to any Loan Document. 
 “Company Audited Financial
Statements” means the audited consolidated balance sheet of the Company and its Subsidiaries for the fiscal year ended February 28, 2021, and the related consolidated statements of income or operations, shareholders’ equity and
cash flows for such fiscal year of the Company and its Subsidiaries, including the notes thereto. 
 “Conforming Changes”
means, with respect to the use, administration of or any conventions associated with SOFR (but not including any changes to the definition of “SOFR Adjustment”) or any proposed Successor Rate or Term SOFR, as applicable, any conforming
changes to the definitions of “Base Rate”, “SOFR”, “Term SOFR” and “Interest Period”, timing and frequency of determining rates and making payments of interest and other technical, administrative or
operational matters (including, for the avoidance of doubt, the definitions of “Business Day” and “U.S. Government Securities Business Day”, timing of borrowing requests or prepayment, conversion or continuation notices and
length of lookback periods) as may be appropriate, in the discretion of the Administrative Agent, to reflect the adoption and implementation of such applicable rate(s) and to permit the administration thereof by the Administrative Agent in a manner
substantially consistent with market practice (or, if the Administrative Agent determines that adoption of any portion of such market practice is not administratively feasible or that no market practice for the administration of such rate exists, in
such other manner of administration as the Administrative Agent determines is reasonably necessary in connection with the administration of this Agreement and any other Loan Document). 

“Consolidated EBITDA” means Consolidated Net Income plus, without duplication, to the extent deducted in determining
Consolidated Net Income, the sum of (a) (i) interest expense, (ii) expense and provision for taxes paid or accrued, (iii) depreciation, (iv) amortization (including amortization of intangibles), (v) non-cash charges recorded in respect of impairment of goodwill or long-term assets, (vi) any other non-cash items (including
non-cash costs or expenses in respect of impairments of goodwill, non-cash charges pursuant to any management equity plan and
non-cash charges pursuant to SFAS 158) except to the extent representing an accrual for future cash outlays, (vii) income of any non-wholly-owned Subsidiaries
and deductions attributable to minority interests, (viii) extraordinary or unusual charges and expenses, (ix) expenses incurred in connection with any acquisition, investment, asset disposition, issuance or repayment of debt, issuance of
equity securities, refinancing transaction or amendment or other modification of any debt instrument (in each case, (A) other than in the ordinary course of business and (B) including any such transaction consummated prior to the Closing
Date and any such transaction undertaken but not completed, and including transaction expenses incurred in connection therewith) and (x) any contingent or deferred payments (including earn-out
payments, non-compete payments and consulting payments but excluding ongoing royalty payments) made in connection with any acquisition outside the ordinary course of business; minus, to the extent
included in Consolidated Net Income, (b) the sum of (i) any unusual or extraordinary income or gains and (ii) any other non-cash income (except to the extent representing an accrual for future
cash income). 
 “Consolidated Interest Coverage Ratio” means, for any Test Period, the ratio of (x) Consolidated
EBITDA for such Test Period to (y) Consolidated Interest Expense for such Test Period. 
 “Consolidated Interest
Expense” means, for any period, the sum, for the Company and its Consolidated Subsidiaries (determined on a consolidated basis in accordance with GAAP), of the following: (a) all interest in respect of Indebtedness (including the
interest component of any payments in respect of Finance Lease Obligations) accrued during such period (whether or not actually paid during such period) determined after giving effect to the net amount paid (or received) under Swap
Agreements relating to any such Indebtedness minus (b) the sum of 

  
 5 

 
(i) all interest income during such period and (ii) to the extent included in clause (a) above, the amount of write offs of deferred financing fees, expensing of bridge
commitments and amounts paid on early terminations of Swap Agreements. 
 “Consolidated Net Income” means, with reference
to any period, the net income (or loss) of the Company and its Subsidiaries calculated in accordance with GAAP on a consolidated basis (without duplication) for such period; provided that, in calculating Consolidated Net Income of
the Company and its Subsidiaries for any period, there shall be excluded (a) except as provided in clause (b) below, the income (or deficit) of any Person accrued prior to the date it becomes a Subsidiary of the Company or is
merged into or consolidated with the Company or any of its Subsidiaries, (b) the income (or deficit) of any Person in which the Company or any of its Subsidiaries has an ownership interest, to the extent that any such income is
contractually prohibited from being distributed to the Company in the form of dividends or similar distributions and (c) any income (loss) for such period attributable to the early extinguishment of Indebtedness (other than Swap
Agreements), together with any related provision for taxes on any such income. 
 “Consolidated Net Leverage Ratio” means,
for any Test Period, the ratio of (a) Consolidated Total Net Indebtedness as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period. 

“Consolidated Subsidiaries” means Subsidiaries that would be consolidated with the Company in accordance with GAAP. 

“Consolidated Tangible Assets” means, as at any date, the total assets of the Company and its Consolidated Subsidiaries
(determined on a consolidated basis without duplication in accordance with GAAP) that would be shown as tangible assets on a consolidated balance sheet of the Company and its Consolidated Subsidiaries after eliminating all amounts properly
attributable to minority interests, if any, in the stock and surplus of Subsidiaries. For purposes hereof, “tangible assets” means all assets of the Company and its Consolidated Subsidiaries other than assets that should be
classified as intangibles including goodwill, minority interests, research and development costs, trademarks, trade names, copyrights, patents and franchises, unamortized debt discount and expense, all reserves and any
write-up in the book value of assets. 
 “Consolidated Total Indebtedness” means at
any time the sum, without duplication, of (i) the aggregate principal amount of Indebtedness of the Company and its Consolidated Subsidiaries outstanding as of such time calculated on a consolidated basis (other than Revolving Loans, Swingline
Loans, Letters of Credit (each as defined in the Senior Credit Agreement) and other than Indebtedness described in clause (h), (i) or (j) of the definition of “Indebtedness” (provided that there shall be included
in Consolidated Total Indebtedness, any Indebtedness (x) in respect of drawings under letters of credit to the extent not reimbursed within three Business Days after the date of such drawing and (y) in respect of any Swap Agreement not
permitted by Section 6.01(i)) plus (ii) the principal amount of any obligations of any Person (other than the Company or any Subsidiary) of the type described in the foregoing clause (i) that are Guaranteed by
the Company or any Subsidiary (whether or not reflected on a consolidated balance sheet of the Company), plus (iii) the average of the aggregate outstanding principal amounts of Revolving Loans and Swingline Loans (each as defined in the
Senior Credit Agreement) as at such date of determination and as at the last day of each of the three immediately preceding fiscal quarters. Notwithstanding the foregoing, to the extent any Indebtedness included in clause (i) above has
been issued or incurred by the Company or any of its Subsidiaries, to refinance any pre-existing Indebtedness (“Existing Debt”), such new Indebtedness (“New Debt”) shall be
excluded from the definition of Consolidated Total Indebtedness at all times prior to the repayment or redemption of such Existing Debt, but only to the extent that the Company has (x) delivered to the trustee (or similar agent) of the Existing
Debt irrevocable notice of such repayment or redemption and (y) deposited cash with or for the benefit of the trustee (or similar agent) of the Existing Debt in connection with such redemption or repayment (or otherwise set aside cash proceeds
of such New Debt in the United States to fund such repayment or redemption). 
 “Consolidated Total Net Indebtedness”
means, on any date, the excess of (i) Consolidated Total Indebtedness over (ii) the lesser of (x) $750,000,000 and (y) the aggregate amount of unrestricted cash and cash equivalents of the Company and its Consolidated
Subsidiaries, determined on a consolidated basis in accordance with GAAP as of such date. 

  
 6 

 “Control” means, with respect to any Person, the power, directly or
indirectly, to direct or cause the direction of the management and policies of such Person, whether by contract or otherwise and the terms “Controls” and “Controlled” shall have correlative meanings. 

“Controlled Substances Act” means the Controlled Substances Act (21 U.S.C. Sections 801 et seq.), as amended from
time to time, and any successor statute. 
 “Covered Entity” has the meaning set forth in Section 9.19. 

“Covered Party” has the meaning set forth in Section 9.19(a). 

“Daily Simple SOFR” with respect to any applicable determination date means the SOFR published on such date on the Federal
Reserve Bank of New York’s website (or any successor source). 
 “Debt Ratings” has the meaning set forth in the
definition of “Applicable Rate.” 
 “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all
other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from
time to time in effect and affecting the rights of creditors generally. 
 “Default” means any event or condition, which
constitutes an Event of Default or, which upon notice, lapse of time or both would, unless cured or waived, become an Event of Default. 

“Default Rate” has the meaning set forth in Section 2.12(c). 

“Default Right” has the meaning set forth in Section 9.19(b). 

“Disclosed Matters” means the matters disclosed on Schedule 3.06 hereto on the Closing Date. 

“Disposition” means, with respect to any Property, any sale, lease, sale and leaseback, assignment, conveyance, transfer or
other disposition thereof, and the terms “Dispose” and “Disposed of” shall have correlative meanings, but excluding, licenses and leases entered into in the ordinary course of business or that are customarily
entered into by companies in the same or similar lines of business. 
 “Disqualified Equity Interests” means any Equity
Interest which, by its terms (or by the terms of any security or other Equity Interests into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (a) matures or is mandatorily redeemable
(other than solely for Qualified Equity Interests), pursuant to a sinking fund obligation or otherwise (except as a result of a change of control, public equity offering or asset sale so long as any rights of the holders thereof upon the occurrence
of a change of control, public equity offering or asset sale event shall be subject to the prior repayment in full of the Loans and all other Obligations that are accrued and payable and the termination of the Commitments), (b) is redeemable at
the option of the holder thereof (other than solely for Qualified Equity Interests and except as permitted in clause (a) above), in whole or in part, (c) requires the scheduled payments of dividends in cash (for this purpose,
dividends shall not be considered required if the issuer has the option to permit them to accrue, cumulate, accrete or increase in liquidation preference or if the Company has the option to pay such dividends solely in Qualified Equity Interests),
or (d) is or becomes convertible into or exchangeable for Indebtedness or any other Equity Interests that would constitute Disqualified Equity Interests, in each case, prior to the date that is 91 days after the Latest Maturity Date at the time
of issuance thereof. 
 “Division” means the division of the assets, liabilities and/or obligations of a Person (the
“Dividing Person”) among two or more Persons (whether pursuant to a “plan of division” or similar arrangement), which may or may not include the Dividing Person and pursuant to which the Dividing Person may or may not
survive. 
 “Dollars” or “$” refers to lawful money of the United States of America. 

  
 7 

 “Domestic Subsidiary” means any Subsidiary organized under the laws of the
United States, any state thereof or the District of Columbia. 
 “EEA Financial Institution” means (a) any credit
institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in
clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a Subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to
consolidated supervision with its parent. 
 “EEA Member Country” means any of the member states of the European Union,
Iceland, Liechtenstein, and Norway. 
 “EEA Resolution Authority” means any public administrative authority or any Person
entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Electronic Copy” has the meaning set forth in Section 9.17. 

“Electronic Record” and “Electronic Signature” shall have the meanings assigned to them, respectively, by 15
USC §7006, as it may be amended from time to time. 
 “Eligible Assignee” means any Person that meets the requirements
to be an assignee under Section 9.04(b)(iii), (v) and (vi) (subject to such consents, if any, as may be required under Section 9.04(b)(iii)). 

“Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions, notices
or binding agreements issued, promulgated or entered into by any Governmental Authority, imposing liability or standards of conduct concerning protection of the environment, preservation or reclamation of natural resources, the management, Release
or threatened Release of any Hazardous Material or the effect of Hazardous Materials on the environment or on health and safety. 

“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of
environmental remediation, fines, penalties or indemnities), of the Company or any Subsidiary directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation,
storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the Release or threatened Release of any Hazardous Materials into the environment or (e) any contract, agreement or other binding
consensual arrangement to the extent that liability is assumed or imposed with respect to any of the foregoing. 
 “Equity
Interests” means shares of capital stock, partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights
entitling the holder thereof to purchase or acquire any such equity interest. 
 “ERISA” means the Employee Retirement
Income Security Act of 1974, as amended from time to time and the rules and regulations promulgated thereunder. 
 “ERISA
Affiliate” means any trade or business (whether or not incorporated) that, together with the Company, is treated as a single employer under Section 414(b) or (c) of the Code or, solely for purposes of Section 302 of
ERISA and Section 412 of the Code, is treated as a single employer under Section 414 of the Code. 
 “ERISA
Event” means (a) any “reportable event,” as defined in Section 4043 of ERISA or the regulations issued thereunder with respect to a Plan (other than an event for which the 30-day
notice period is waived); (b) with respect to any Plan, a failure to satisfy the minimum funding standard within the meaning of Section 412 of the Code or Section 302 of ERISA), whether or not waived; (c) the filing pursuant to
Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan; (d) a determination that any Plan is in
“at-risk” status (as defined in Section 303(i)(4) of ERISA or Section 430(i)(4) of 

  
 8 

 
the Code); (e) the incurrence by the Company or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan; (f) the receipt by
the Company or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan; (g) the incurrence by the Company or any of its ERISA
Affiliates of any liability with respect to the withdrawal or partial withdrawal of the Company or any of its ERISA Affiliates from any Plan or Multiemployer Plan or a cessation of operations that is treated as such a withdrawal under
Section 4062(e) of ERISA; or (h) the receipt by the Company or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from the Company or any ERISA Affiliate of any notice, concerning the imposition upon the
Company or any of its ERISA Affiliates of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in endangered or critical status, within the meaning of ERISA. 

“EU Bail-In Legislation Schedule” means the EU
Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time. 

“Event of Default” has the meaning assigned to such term in Article VII. 

“Excluded Taxes” means, with respect to the Administrative Agent, any Lender or any other recipient of any payment to be made
by or on account of any obligation of the Borrower under any Loan Document, (a) any Tax imposed on or measured by such recipient’s net income or profits (or any franchise Tax imposed in lieu of a Tax on net income or profits) by any
jurisdiction as a result of such recipient being organized in or having its principal office or applicable lending office located in such jurisdiction, or as a result of any other present or former connection with such jurisdiction (including as a
result of such recipient carrying on a trade or business, having a permanent establishment or being a resident for tax purposes in such jurisdiction) other than any connection arising solely from such recipient having executed, delivered,
enforced, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to, and/or enforced, any Loan Documents, (b) any branch profits
Taxes within the meaning of Section 884(a) of the Code, or any similar Tax, imposed by any jurisdiction described in clause (a) above, (c) solely with respect to the Obligations of the Company, in the case of a Foreign
Lender (other than an assignee pursuant to a request by the Borrower under Section 2.18), any U.S. federal withholding Tax that is imposed on amounts payable to such Foreign Lender pursuant to a Law in effect at the time such Foreign Lender
becomes a party to this Agreement (or designates a new lending office), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, immediately prior to the time of designation of a new lending office (or assignment),
to receive additional amounts from the Borrower with respect to such withholding Tax pursuant to Section 2.16, (d) any withholding Tax that is attributable to a Lender’s failure to comply with Section 2.16(d) and
(e) solely with respect to the Obligations of the Company, any U.S. federal withholding Taxes imposed pursuant to FATCA. 

“Existing Term Loan Class” has the meaning set forth in Section 2.20(a). 

“Extended Term Loans” has the meaning set forth in Section 2.20(a). 

“Extending Term Lender” has the meaning provided in Section 2.20(c). 

“Extension Election” has the meaning set forth in Section 2.20(c). 

“Extension Request” has the meaning provided in Section 2.20(a). 

“Facility” means the Term Loan Facility. 

“FATCA” means Sections 1471 through 1474 of the Code, as of the Closing Date (and any amended or successor version
thereof that is substantively comparable and not materially more onerous to comply with), and any current or future Treasury regulations or official interpretations thereof. 

“FCPA” has the meaning provided in Section 3.13. 

  
 9 

 “Federal Funds Effective Rate” means, for any day, the rate per annum
calculated by the Federal Reserve Bank of New York based on such day’s federal funds transactions by depository institutions (as determined in such manner as the Federal Reserve Bank of New York shall set forth on its public website from time
to time) and published on the next succeeding Business Day by the Federal Reserve Bank of New York as the federal funds effective rate; provided that if the Federal Funds Effective Rate as so determined would be less than zero, such rate
shall be deemed to be zero for purposes of this Agreement. 
 “Finance Lease” means any lease of Property classified as a
“finance lease” under GAAP, but excluding, for the avoidance of doubt, any Operating Leases or any other non-finance leases. 

“Finance Lease Obligations” of a Person means the amount of the obligations of such Person under Finance Leases which would
be shown as a liability on a balance sheet of such Person prepared in accordance with GAAP. 
 “Financial Officer” means
the chief financial officer, principal accounting officer, treasurer, assistant treasurer or controller of the Borrower. 
 “Foreign
Lender” means any Lender that is not a “United States” person within the meaning of Section 7701(a)(30) of the Code. 

“Foreign Subsidiary” means any direct or indirect Subsidiary of the Company that is not a Domestic Subsidiary. 

“Fund” means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding
or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its activities. 

“GAAP” means generally accepted accounting principles in the United States of America; provided that, the Borrower
may, by written notice from a Financial Officer to the Administrative Agent and the Lenders, elect to change its financial accounting to IFRS and, in such case, unless the context otherwise requires (including pursuant to Section 1.04), all
references to GAAP herein shall refer to IFRS. 
 “Governmental Authority” means the government of the United States of
America, any other nation or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory
or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 

“Guarantee” of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the
guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other monetary obligation of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any
obligation of the guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other monetary obligation or to purchase (or to advance or supply funds for the
purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other monetary obligation of the payment thereof, (c) to
maintain working capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other monetary obligation or (d) as an account party in
respect of any letter of credit or letter of guaranty issued to support such Indebtedness or monetary obligation; provided that the term Guarantee shall not include endorsements for collection or deposit in the ordinary course of business.
The amount of any Guarantee of any guaranteeing person shall be deemed to be the lower of (a) an amount equal to the stated or determinable amount of the primary obligation, or portion thereof, in respect of which such Guarantee is made and
(b) the maximum amount for which such guaranteeing person may be liable pursuant to the terms of the instrument embodying such Guarantee, unless such primary obligation or the maximum amount for which such guaranteeing person may be liable are
not stated or determinable, in which case the amount of such Guarantee shall be such guaranteeing person’s maximum reasonably anticipated liability in respect thereof as determined by the Company in good faith. 

  
 10 

 “Guarantee Agreement” has the meaning provided in the Original Credit
Agreement. 
 “Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic
substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, per- and polyfluoroalkyl substances, radon gas,
infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any Environmental Law. 

“IFRS” means International Financial Reporting Standards and applicable accounting requirements set by the International
Accounting Standards Board or any successor thereto (or the Financial Accounting Standards Board, the Accounting Principles Board of the American Institute of Certified Public Accountants, or any successor to either such Board, or the SEC, as the
case may be), as in effect from time to time. 
 “Immaterial Subsidiary” means, on any date, any Subsidiary that did not
account for more than (x) 5.0% of Consolidated Tangible Assets as of the date of the most recent financial statements delivered pursuant to Section 5.01(a) or (b) or (y) 5.0% of the Company’s and its Consolidated
Subsidiaries’ consolidated sales for the most recently ended Test Period. 
 “Indebtedness” of any Person means,
without duplication, (a) all obligations of such Person for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person under conditional sale or
other title retention agreements relating to property acquired by such Person, (d) all obligations of such Person in respect of the deferred purchase price of property or services (excluding accounts payable incurred in the ordinary course
of business, milestone payments incurred in connection with any investment or series of related investments, any earn-out obligation except to the extent such obligation is a liability on the balance sheet of
such Person in accordance with GAAP at the time initially incurred and deferred or equity compensation arrangements payable to directors, officers or employees), (e) all Indebtedness of others secured by (or for which the holder of such
Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on Property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, but limited to the fair market value of such
Property (except to the extent otherwise provided in this definition), (f) all Guarantees by such Person of Indebtedness of others of a type described in any of clauses (a) through (e) above or (g) through (k) below,
(g) all Finance Lease Obligations of such Person, (h) all obligations, contingent or otherwise, of such Person as an account party in respect of letters of credit and letters of guaranty, (i) all obligations, contingent or otherwise,
of such Person in respect of bankers’ acceptances, (j) all obligations of such Person under any Swap Agreement (with the “principal” amount of any Swap Agreement on any date being equal to the early termination value thereof on
such date) and (k) all principal obligations under any receivables financing arrangements whether structured as secured debt or a purchase agreement that, if structured as secured debt would constitute Indebtedness. The Indebtedness of any
Person shall (i) include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is expressly liable therefor as a result of such Person’s ownership interest
in or other relationship with such entity and pursuant to contractual arrangements, except to the extent the terms of such Indebtedness provide that such Person is not liable therefor and (ii) exclude (A) customer deposits and advances and
interest payable thereon in the ordinary course of business in accordance with customary trade terms and other obligations incurred in the ordinary course of business through credit on an open account basis customarily extended to such Person and
(B) bona fide indemnification, purchase price adjustment, earn-outs, holdback and contingency payment obligations to which the seller may become entitled to the extent such payment is determined by a final closing balance sheet or such payment
depends on the performance of such business after the closing; provided, however, that, at the time of closing, the amount of any such payment is not determinable and, to the extent such payment thereafter becomes fixed and determined,
the amount is paid within 60 days thereafter and included as Indebtedness of the Company. 
 “Indemnified Taxes” means all
Taxes other than Excluded Taxes and Other Taxes. 
 “Indemnitee” has the meaning set forth in Section 9.03(b). 

“Information” has the meaning specified in Section 9.12. 

“Initial Lender” means Bank of America and each of the other Lenders set forth on Schedule 2.01 in their capacity as
Lender under this Agreement. 

  
 11 

 “Interest Election Request” means a request by the Company to convert or
continue a Loan Borrowing in accordance with Section 2.03. 
 “Interest Payment Date” means (a) with respect to
any Base Rate Loan, the first Business Day of each March, June, September and December and the Maturity Date of such Loan and (b) with respect to any Term SOFR Loan, the last day of the Interest Period applicable to the Borrowing of which such
Loan is a part and, in the case of a Term SOFR Borrowing with an Interest Period of more than three months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first
day of such Interest Period. 
 “Interest Period” means, with respect to any Term SOFR Borrowing, the period commencing on
the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, three or six months, thereafter, as the Borrower may elect; provided that (i) if any Interest Period would end on a day other than a
Business Day, such Interest Period shall be extended to the next succeeding Business Day, (ii) any Interest Period pertaining to a Term SOFR Borrowing that commences on the last Business Day of a calendar month (or on a day for which there is
no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period and (iii) no Interest Period shall extend beyond the applicable maturity
date. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing. After giving effect to all
Borrowings, all conversions of Loans from one Type to the other, and all continuations of Loans as the same Type, there shall be not more than ten Interest Periods in effect with respect to Loans. 

“Investment” means, as to any Person, any acquisition or investment by such Person, whether by means of (a) the purchase
or other acquisition of Equity Interests or debt or other securities of another Person or (b) a loan, advance or capital contribution to, Guarantee of Indebtedness of, assumption of Indebtedness of, or purchase or other acquisition of any other
debt or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person or (c) the purchase or other acquisition (in one transaction or a series of transactions) of all or
substantially all of the property and assets or business of another Person or assets constituting a business unit, line of business or division of such Person. 

“Investor Rights Agreement” means the Second Amended and Restated Investor Rights Agreement, dated April 18, 2019,
entered into between, CBG, Greenstar Canada Investment Limited Partnership and Canopy, as amended, restated, amended and restated, supplemented or otherwise modified from time to time. 

“joint venture” means any Person (other than a wholly-owned Subsidiary) in which the Company or any Subsidiary owns Equity
Interests representing at least a 9.99% economic interest in such Person and which Person is engaged in a business that is the same as or substantially similar to, related to, ancillary to, complimentary to, synergistic with or a reasonable
expansion or development of, a line of business conducted by the Company or any of its Subsidiaries. 
 “Judgment Currency”
has the meaning set forth in Section 9.16. 
 “Latest Maturity Date” means, at any time, the then
latest final maturity date of any Loan or Commitment under this Agreement. 
 “Laws” means, collectively, all
international, foreign, Federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities. 

“Lenders” means the Persons listed on Schedule 2.01 and any other Person that shall have become a
Lender pursuant to an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. 

“Lender Party” and “Lender Recipient Party” means, collectively, the Lenders. 

  
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 “Lending Office” means, as to any Lender, the office or offices of such
Lender described as such in such Lender’s Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Borrower and the Administrative Agent, which office may include any Affiliate of such
Lender or any domestic or foreign branch of such Lender or such Affiliate. Unless the context otherwise requires each reference to a Lender shall include its applicable Lending Office. 

“Lien” means, with respect to any asset, any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or
security interest in, on or of such asset (or any finance lease having substantially the same economic effect as any of the foregoing). 

“Loans” means the loans made by the Lenders to the Borrower pursuant to Section 2.01, Section 2.20 and
Section 9.02 of this Agreement. 
 “Loan Documents” means this Agreement, 2020 Term Loan Restatement Agreement,
Amendment No. 1, Amendment No. 2, any Term Notes executed and delivered pursuant to Section 2.09(e) and any amendments, waivers, supplements or other modifications to any of the foregoing. 

“Loan Parties” has the meaning provided in the Original Credit Agreement. 

“Material Acquisition” means any acquisition of property or series of related acquisitions of property that involves the
payment of consideration by the Company and its Subsidiaries and any assumption of liabilities and Indebtedness in excess of $1,000,000,000; provided that, for purposes of Section 6.09(b) there shall not be more than one Material
Acquisition after the Closing Date unless the Consolidated Net Leverage Ratio has been less than 4.00 to 1.00 as of the last day of a Test Period ending subsequent to the most recent Material Acquisition. 

“Material Adverse Effect” means a material adverse effect on (a) the business, assets, property or financial condition
of the Company and the Subsidiaries taken as a whole or (b) the validity or enforceability of this Agreement or any and all other Loan Documents, or the rights and remedies of the Administrative Agent and the Lenders thereunder. 

“Material Indebtedness” means Indebtedness (other than the Loans), of any one or more of the Company and its Subsidiaries in
an aggregate principal amount exceeding $200,000,000. 
 “Maturity Date” means the fifth anniversary of the Closing Date;
provided that in each case, if such date is not a Business Day, the Maturity Date shall be the immediately preceding Business Day. 

“Maximum Rate” has the meaning assigned to such term in Section 9.14. 

“Moody’s” means Moody’s Investors Service, Inc. and any successor thereto. 

“Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of ERISA. 

“Obligations” means all Indebtedness (including interest accruing during the pendency of any bankruptcy, insolvency,
receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and other monetary obligations of the Borrower to any of the Lenders, their Affiliates or the Administrative Agent or the Arranger,
individually or collectively, existing on the Closing Date or arising thereafter (direct or indirect, joint or several, absolute or contingent, matured or unmatured, liquidated or unliquidated, secured or unsecured) arising or incurred under
this Agreement or any of the other Loan Documents (including under any of the Loans made or reimbursement or other monetary obligations incurred or other instruments at any time evidencing any thereof), in each case whether now existing or hereafter
arising, whether all such obligations arise or accrue before or after the commencement of any bankruptcy, insolvency or receivership proceedings (and whether or not such claims, interest, costs, expenses or fees are allowed or allowable in any such
proceeding (including interest and fees which, but for the filing of a petition in bankruptcy with respect to the Borrower, would have accrued on any Obligations, whether or not a claim is allowed against the Borrower for such interest or fees in
the related bankruptcy proceeding)). 

  
 13 

 “OFAC” has the meaning set forth in Section 3.12. 

“Operating Lease” means any lease of Property classified as an “operating lease” under GAAP. 

“Original Credit Agreement” means the Amended and Restated Term Loan Credit Agreement dated as of March 26, 2020, by and
among the Borrower, the Lenders party thereto and the Administrative Agent. 
 “Other Taxes” means any and all present or
future stamp or documentary Taxes or any other excise or property Taxes, charges or similar levies arising from any payment made under this Agreement or any other Loan Document or from the execution, delivery or enforcement of, or otherwise with
respect to, this Agreement or any other Loan Document, except any such Taxes imposed as a result of an assignment by a Lender other than an assignment made pursuant to Section 2.18 (an “Assignment Tax”), if such Assignment Tax
is imposed as a result of any present or former connection of the assignor or assignee with the jurisdiction imposing such Assignment Tax (including as a result of such recipient carrying on a trade or business, having a permanent establishment or
being a resident for tax purposes in such jurisdiction) other than any connection arising solely from such recipient having executed, delivered, enforced, become a party to, performed its obligations under, received payments under, received or
perfected a security interest under, engaged in any other transaction pursuant to, and/or enforced, any Loan Documents. 

“Overnight Rate” means, for any day, the greater of (i) the Federal Funds Effective Rate and (ii) an overnight rate
determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. 

“Participant” has the meaning set forth in Section 9.04(d). 

“Participant Register” has the meaning set forth in Section 9.04(d). 

“PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor entity performing
similar functions. 
 “Permitted Encumbrances” means: 

(a) Liens imposed by law for Taxes, assessments or other governmental charges that are not overdue for a period of more than
thirty (30) days or are being contested in good faith by appropriate proceedings diligently conducted; 
 (b)
carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, landlords’, workmen’s, suppliers’ and other like Liens imposed by law, arising in the ordinary course of business and securing obligations
that are not overdue by more than ninety (90) days or are being contested in good faith by appropriate proceedings diligently conducted; 

(c) (i) Liens, pledges and deposits made in the ordinary course of business in compliance with workers’ compensation,
unemployment insurance and other social security laws or regulations or employment laws or to secure other public, statutory or regulatory obligations (including to support letters of credit or bank guarantees) and (ii) Liens, pledges or
deposits in the ordinary course of business securing liability for premiums or reimbursement or indemnification obligations of (including obligations in respect of letters of credit or bank guarantees for the benefit of) insurance carriers
providing insurance to the Company or any Subsidiary; 
 (d) Liens or deposits to secure the performance of bids, trade
contracts, governmental contracts, tenders, statutory bonds, leases, statutory obligations, surety, stay, appeal and replevin bonds, performance bonds, indemnity bonds, bonds to secure the payment of excise taxes or customs duties in connection with
the sale or importation of goods and other obligations of a like nature (including those to secure health, safety and environmental obligations), in each case in the ordinary course of business; 

  
 14 

 (e) Liens in respect of judgments, decrees, attachments or awards that do
not constitute an Event of Default under clause (k) of Article VII; 
 (f) easements, restrictions (including
zoning restrictions), rights-of-way, covenants, licenses, encroachments, protrusions and similar encumbrances and minor title defects affecting real property
imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially interfere with the ordinary conduct of business of the Company or any Subsidiary; 

(g) any interest or title of a lessor, sublessor, licensor or sublicensor under any lease, sublease, license or sublicense
entered into by the Company or any other Subsidiary as a part of its business and covering only the assets so leased; and 

(h) performance and return-of-money bonds, or
in connection with the payment of the exercise price or withholding taxes in respect of the exercise, payment or vesting of stock appreciation rights, stock options, restricted stock, restricted stock units, performance share units or other
stock-based awards, and other similar obligations; 
 provided that the term “Permitted Encumbrances” shall not include any Lien securing
Indebtedness. 
 “Permitted Holders” means (a) Marilyn Sands, her descendants (whether by blood or adoption), her
descendants’ spouses, her siblings, the descendants of her siblings (whether by blood or adoption), Hudson Ansley, Lindsay Caleo, William Caleo, Courtney Winslow, or Andrew Stern, or the estate of any of the foregoing Persons, or The Sands
Family Foundation, Inc., (b) trusts which are for the benefit of any combination of the Persons described in clause (a), or any trust for the benefit of any such trust, or (c) partnerships, limited liability companies or any other
entities which are controlled by any combination of the Persons described in clause (a), the estate of any such Persons, a trust referred to in the foregoing clause (b), or an entity that satisfies the conditions of this clause (c).

 “Permitted Refinancing Indebtedness” means, with respect to any Person, any amendment, modification, refinancing,
refunding, renewal, replacement or extension of any Indebtedness of such Person; provided that (a) the principal amount (or accreted value, if applicable) thereof does not exceed the principal amount (or accreted value, if
applicable) of the Indebtedness so modified, refinanced, refunded, renewed, replaced or extended except by an amount equal to unpaid accrued interest and premium thereon plus other reasonable amounts paid, and fees and expenses reasonably
incurred, in connection with such modification, refinancing, refunding, renewal, replacement or extension, (b) other than with respect to Permitted Refinancing Indebtedness in respect of Indebtedness of a type described pursuant to
Section 6.01(e), such modification, refinancing, refunding, renewal, replacement or extension has a final maturity date equal to or later than the earlier of (x) the final maturity date of the Indebtedness so modified, refinanced,
refunded, renewed, replaced or extended and (y) the date which is 91 days after the Latest Maturity Date, (c) other than with respect to Permitted Refinancing Indebtedness in respect of Indebtedness of a type described pursuant to
Section 6.01(e), such modification, refinancing, refunding, renewal, replacement or extension has a Weighted Average Life to Maturity equal to or greater than the remaining Weighted Average Life to Maturity of, the Indebtedness being modified,
refinanced, refunded, renewed, replaced or extended and (d) to the extent such Indebtedness being modified, refinanced, refunded, renewed, replaced or extended is subordinated in right of payment to the Obligations, such modification,
refinancing, refunding, renewal, replacement or extension is subordinated in right of payment to the Obligations on terms, taken as a whole, at least as favorable to the Lenders (in the good faith determination of the Company) as those
contained in the documentation governing the Indebtedness being modified, refinanced, refunded, renewed, replaced or extended. 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, Governmental Authority or other entity. 
 “Plan” means any employee pension benefit plan (other than a
Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were terminated, would under
Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 

  
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 “Platform” has the meaning assigned in Section 5.01. 

“Pro Forma Basis” means, with respect to compliance with any test covenant hereunder, that all Specified Transactions and the
following transactions occurring prior to the end of the applicable period of measurement in connection therewith shall be deemed to have occurred as of the first day of the applicable period of measurement in such test or covenant: (a) income
statement items (whether positive or negative) attributable to the Property or Person subject to such Specified Transaction, (i) in the case of a Disposition of all or substantially all Equity Interests in any Subsidiary of the Company
owned by the Company or any of its Subsidiaries or any division, product line, or facility used for operations of the Company or any of its Subsidiaries, shall be excluded, and (ii) in the case of an acquisition or Investment described in the
definition of “Specified Transaction,” shall be included, (b) any retirement of Indebtedness and (c) any Indebtedness incurred or assumed by the Company or any of the Subsidiaries in connection therewith and if such Indebtedness
has a floating or formula rate, shall have an implied rate of interest for the applicable period for purposes of this definition determined by utilizing the rate which is or would be in effect with respect to such Indebtedness as at the relevant
date of determination; provided that, the foregoing pro forma adjustments may be applied to any such test or covenant solely to the extent that either (x) such adjustments are consistent with
Regulation S-X or (y) in the case of any acquisition of a Person or line of business, such adjustments are set forth in a certificate of a Financial Officer of the Company delivered to the
Administrative Agent, which certificate states that such adjustments are (A) based on specifically identified actions to be taken within twelve months following the date of such acquisition and (B) such Financial Officer believes such
adjustments appropriately reflect the net cost savings to be achieved as a result of such specifically identified actions. 

“Property” means any right or interest in or to property of any kind whatsoever, whether real, personal or mixed and whether
tangible or intangible, including, without limitation, Equity Interests. 
 “PTE” means a prohibited transaction class
exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time. 
 “QFC” has the
meaning assigned in Section 9.19(b). 
 “QFC Credit Support” has the meaning set forth in Section 9.19. 

“Qualified Equity Interests” means Equity Interests of the Borrower other than Disqualified Equity Interests. 

“Receivables” means all accounts receivable and property relating thereto (including, without limitation, all rights to
payment created by or arising from sales of goods, leases of goods or the rendition of services rendered no matter how evidenced whether or not earned by performance). 

“Refinanced Term Loans” has the meaning assigned to such term in Section 9.02. 

“Register” has the meaning set forth in Section 9.04(c). 

“Regulation S-X” means
Regulation S-X under the Securities Act of 1933, as amended. 
 “Related
Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents, trustees and advisors of such Person and of such Person’s Affiliates. 

“Release” means any spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching,
dumping or disposing of a Hazardous Material into the environment. 
 “Replacement Term Loans” has the meaning assigned to
such term in Section 9.02. 
 “Required Lenders” means, at any time, Lenders holding Commitments and Loans
representing more than 50% of the sum of the aggregate principal amount of Commitments and Loans outstanding at such time. 

  
 16 

 “Rescindable Amount” has the meaning set forth in Section 2.17(e).

 “Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK
Resolution Authority. 
 “Responsible Officer” means the chief executive officer, president, any vice president, chief
financial officer, treasurer, assistant treasurer or controller of the Borrower and, solely for purposes of notices given pursuant to Article II, any other officer or employee of the Borrower so designated by any of the foregoing officers in a
notice to the Administrative Agent. Any document delivered hereunder that is signed by a Responsible Officer of the Borrower shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the
part of the Borrower and such Responsible Officer shall be conclusively presumed to have acted on behalf of the Borrower. 

“S&P” means Standard & Poor’s Financial Services LLC, a subsidiary of S&P Global Inc., and any
successor thereto. 
 “Sale and Leaseback Transaction” means any transaction pursuant to which the Company or any
Subsidiary sells or transfers any Property to any Person (other than the Company or a Subsidiary) and enters into a lease, as tenant, for all or a material portion of such Property with a term of three years or more (including renewal options).

 “Same Day Funds” means (same day or other funds as may be reasonably determined by the Administrative Agent to be
customary in the place of disbursement or payment for the settlement of international banking transactions in Dollars. 

“Sanctioned Country or Territory” means, at any time, a country, region or territory which is subject to comprehensive
economic sanctions by the United States that broadly restrict trade and investment in or with that country or territory (at the time of this Agreement, the so-called Donetsk People’s Republic, the so-called Luhansk People’s Republic, the Crimea Region of Ukraine, Cuba, Iran, North Korea and Syria). 

“Sanctions” has the meaning provided in Section 3.12. 

“Scheduled Unavailability Date” has the meaning provided in Section 2.19(a)(ii). 

“SEC” means the Securities and Exchange Commission, any successor thereto and any analogous Governmental Authority succeeding
to any of its principal functions. 
 “Senior Credit Agreement” means that certain tenth amended and restated credit
agreement, dated as of April 14, 2022, among the Company, the lenders party thereto, Bank of America, N.A., as administrative agent, and the other parties thereto as amended, restated, modified, supplemented, substituted, replaced, renewed or
refinanced from time to time, including any agreement or agreements extending the maturity of, or refinancing all or any portion of the Indebtedness under such agreement, and any successor or replacement agreement or agreements with the same or any
other borrowers, agents, creditors, lenders or group of creditors or lenders. 
 “series” means, with respect to any Loans
(including, without limitation, Extended Term Loans or Replacement Term Loans), all such Loans that have the same maturity date, amortization and interest rate provision and that are designated as part of such “series” pursuant to the
applicable Additional Credit Extension Amendment. 
 “SOFR” means the Secured Overnight Financing Rate as administered by
the Federal Reserve Bank of New York (or a successor administrator). 
 “SOFR Administrator” means the Federal Reserve Bank
of New York, as the administrator of SOFR, or any successor administrator of SOFR designated by the Federal Reserve Bank of New York or other Person acting as the SOFR Administrator at such time. 

  
 17 

 “SOFR Adjustment” with respect to Daily Simple SOFR means 0.10%; and with
respect to Term SOFR means 0.10%. 
 “Solvent” and “Solvency” means, with respect to any Person on any
date of determination, that on such date (a) the fair value of the property of such Person is greater than the total amount of liabilities, including contingent liabilities, of such Person, (b) the present fair saleable value of the assets
of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will, incur debts
or liabilities beyond such Person’s ability to pay such debts and liabilities as they become absolute and matured and (d) such Person is not engaged in any business, as conducted on such date and as proposed to be conducted following such
date, for which such Person’s property would constitute an unreasonably small capital. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time,
represents the amount that can reasonably be expected to become an actual or matured liability. 
 “Specified Transaction”
means, with respect to any Test Period, any of the following events occurring after the first day of such Test Period and prior to the applicable date of determination: (i) any Investment by the Company or any Subsidiary in any Person
(including in connection with any acquisition) other than a Person that was a wholly-owned Subsidiary on the first day of such period involving (x) the acquisition of a new Subsidiary or joint venture, (y) an increase in the
Company’s and its Subsidiaries’ consolidated economic ownership of a joint venture or (z) the acquisition of a product line or business unit, (ii) any asset sale involving (x) the disposition of Equity Interests of a
Subsidiary or joint venture (other than to the Company or a Subsidiary) or (y) the disposition of a product line or business unit, (iii) any incurrence or repayment of Indebtedness (in each case, other than Swap Agreements, Revolving
Loans (as defined in the Senior Credit Agreement), Swingline Loans (as defined in the Senior Credit Agreement) and borrowings and repayments of Indebtedness in the ordinary course of business under revolving credit facilities except to the
extent there is a reduction in the related revolving credit commitment) and (iv) any other transaction specifically required to be given effect to on a Pro Forma Basis. 

“subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation, limited
liability company, partnership, association or other entity of which securities or other ownership interests representing more than 50% of the ordinary voting power for the election of directors or other governing body are at the time beneficially
owned, directly or indirectly, by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent; provided, however, that no securities or other ownership interests, including any
warrants and convertible debt, shall be included that do not carry the present right to vote for the election of directors or other governing body. 

“Subsidiary” means any subsidiary of the Company. 

“Successor Rate” has the meaning specified in 2.19(b). 

“Supported QFC” has the meaning set forth in Section 9.19. 

“Swap Agreement” means any agreement with respect to any swap, forward, future or derivative transaction or option or similar
agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any
similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the
Company or the Subsidiaries shall be a Swap Agreement. 
 “Taxes” means any and all present or future taxes, levies,
imposts, duties, assessments, deductions, charges or withholdings of any nature and whatever called, imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Term Loan” means a loan funded pursuant to Section 2.01. 

  
 18 

 “Term Loan Commitment” means, with respect to each Term Lender, the
commitment, if any, of such Term Lender to make a Term Loan pursuant to Section 2.01 on the Closing Date. The initial aggregate amount of the Lenders’ Term Loan Commitment on the Closing Date is $491,250,000. 

“Term Loan Facility” means the Term Loan Commitments and the Term Loans thereunder. “Term Loan Lender” means
(a) at any time on or prior to the Closing Date, any Lender that has a Term Loan Commitment at such time and (b) at any time after the Closing Date, any Lender that holds Term Loans at such time. 

“Term SOFR” 

(a) for any Interest Period with respect to a Term SOFR Loan, the rate per annum equal to the Term SOFR Screen Rate two U.S. Government
Securities Business Days prior to the commencement of such Interest Period with a term equivalent to such Interest Period; provided that if the rate is not published prior to 11:00 a.m. on such determination date then Term SOFR means the Term SOFR
Screen Rate on the first U.S. Government Securities Business Day immediately prior thereto, in each case, plus the SOFR Adjustment for such Interest Period; and 

(b) for any interest calculation with respect to clause (c) of the definition of Base Rate on any date, the rate per annum equal to the
Term SOFR Screen Rate with a term of one month commencing that day; 
 provided that if the Term SOFR determined in accordance with either of
the foregoing provisions (a) or (b) of this definition would otherwise be less than zero, the Term SOFR shall be deemed zero for purposes of this Agreement. 

“Term SOFR Replacement Date” has the meaning set forth in Section 2.19(b). 

“Term SOFR Screen Rate” means the forward-looking SOFR term rate administered by CME (or any successor administrator
satisfactory to the Administrative Agent) and published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time). 

“Term SOFR Successor Rate” has the meaning set forth in Section 2.19(b). 

“Term Note” means a promissory note made by the Borrower in favor of a Term Lender evidencing Term Loans made by such Term
Lender to the Borrower, substantially in the form of Exhibit B. 
 “Test Period” means the
period of four fiscal quarters of the Borrower ending on a specified date. 
 “Transactions” means the transactions
contemplated by this Agreement. 
 “Type,” when used in reference to any Loan or Borrowing, refers to whether the rate of
interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to Term SOFR or the Base Rate. 
 “UK
Bribery Act” has the meaning provided in Section 3.13. 
 “UK Financial Institution” means any BRRD
Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person subject to IFPRU 11.6 of the FCA Handbook (as amended from time to time)
promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms. 

“UK Resolution Authority” means the Bank of England or any other public administrative authority having responsibility for
the resolution of any UK Financial Institution. 
 “Uniform Commercial Code” means the Uniform Commercial Code as the same
may from time to time be in effect in the State of New York or, when the laws of any other jurisdiction govern the perfection or enforcement of any Lien, the Uniform Commercial Code as adopted in such jurisdiction. 

  
 19 

 “United States Tax Compliance Certificate” has the meaning set forth in
Section 2.16(d). 
 “U.S. Government Securities Business Day” means any Business Day, except any Business Day on which
any of the Securities Industry and Financial Markets Association, the New York Stock Exchange or the Federal Reserve Bank of New York is not open for business because such day is a legal holiday under the federal laws of the United States or the
laws of the State of New York, as applicable. 
 “U.S. Lender” means any Lender that is a “United States person”
as defined in Section 7701(a)(30) of the Code. 
 “U.S. Special Resolution Regimes” has the meaning set forth in
Section 9.19. 
 “Weighted Average Life to Maturity” means, when applied to any Indebtedness at any date, the number
of years obtained by dividing (a) the then outstanding aggregate principal amount of such Indebtedness into (b) the sum of the total of the products obtained by multiplying (i) the amount of each then remaining scheduled installment,
sinking fund, serial maturity or other required payment of principal including payment at final maturity, in respect thereof, by (ii) the number of years (calculated to the nearest one-twelfth) which
will elapse between such date and the making of such payment. 
 “wholly-owned” means, with respect to a Subsidiary of a
Person, a Subsidiary of such Person all of the outstanding Equity Interests of which (other than (x) director’s qualifying shares and (y) shares issued to foreign nationals to the extent required by applicable Law or custom) are
owned by such Person and/or by one or more wholly-owned Subsidiaries of such Person. 
 “Withdrawal Liability” means
liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 

“Write-Down and Conversion Powers” means, (a) with respect to any EEA Resolution Authority, the write-down and
conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel,
reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any
other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that
Bail-In Legislation that are related to or ancillary to any of those powers. 
 SECTION 1.02.
Classification of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and referred to by Class (e.g. a “Term Loan”) or by Type (e.g. a “Term SOFR Loan”) or by
Class and Type (e.g. a “Term SOFR Term Loan”). Borrowings may also be classified and referred to by Class (e.g. a Term Loan Borrowing”) or by Type (e.g. a “Term SOFR Borrowing”) or by
Class and Type (e.g. a “Term SOFR Term Loan Borrowing”). 
 SECTION 1.03. Terms Generally. The definitions of
terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,”
“includes” and “including” shall be deemed to be followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the
context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented,
refinanced, restated, replaced or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s
successors and assigns, (c) the words “herein,” “hereof” and “hereunder,” and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof,
(d) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to 

  
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refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement and (e) the words “asset” and “property” shall be construed to have the same meaning
and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 

SECTION 1.04. Accounting Terms; GAAP. 

(a) Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP,
as in effect from time to time; provided that, (i) if the Company notifies the Administrative Agent that the Company requests an amendment to any provision hereof to eliminate the effect of any change occurring after the Effective Date
in GAAP (including as a result of the adoption of IFRS) or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Company that the Required Lenders request an amendment to any provision hereof for
such purpose), regardless of whether any such notice is given before or after such change in GAAP (including as a result of the adoption of IFRS) or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in
effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith and (ii) notwithstanding anything in GAAP to the contrary, for purposes
of all financial calculations hereunder (x) the amount of any Indebtedness outstanding at any time shall be the stated principal amount thereof (except to the extent such Indebtedness provides by its terms for the accretion of principal, in
which case the amount of such Indebtedness at any time shall be its accreted amount at such time) and (y) all obligations of any Person that are or would have been treated as operating leases for purposes of GAAP prior to the effectiveness of
FASB ASC 842 shall continue to be accounted for as operating leases for purposes of all financial definitions and calculations for purpose of this Agreement (whether or not such operating lease obligations were in effect on such date)
notwithstanding the fact that such obligations are required in accordance with FASB ASC 842 (on a prospective or retroactive basis or otherwise) to be treated as obligations arising under Finance Leases in the financial statements. 

(b) Notwithstanding anything to the contrary herein, for purposes of determining compliance with any test or covenant (including at the end of
any Test Period) or the compliance with or availability of any basket contained in this Agreement, the Consolidated Interest Coverage Ratio and Consolidated Net Leverage Ratio shall be calculated with respect to such period on a Pro Forma Basis.

 SECTION 1.05. Payments on Business Days. When the payment of any Obligation or the performance of any covenant, duty or obligation
is stated to be due or performance required on a day which is not a Business Day, the date of such payment or performance shall extend to the immediately succeeding Business Day and such extension of time shall be reflected in computing interest or
fees, as the case may be; provided that, with respect to any payment of interest on or principal of Term SOFR Loans, if such extension would cause any such payment to be made in the next succeeding calendar month, such payment shall be made
on the immediately preceding Business Day. 
 SECTION 1.06. Rounding. Any financial ratios required to be maintained by the Company
pursuant to this Agreement shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down
to the nearest number (with a rounding-up if there is no nearest number). 
 SECTION 1.07. Times
of Day. Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard, as applicable). 

SECTION 1.08. Currency Equivalents. For purposes of determining compliance with any U.S. dollar-denominated restriction on the
incurrence of Indebtedness, the U.S. dollar-equivalent principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was incurred, in the
case of term debt, or first committed, in the case of revolving credit debt; provided that if such Indebtedness is incurred to refinance other Indebtedness denominated in a foreign currency, and such refinancing would cause the
applicable U.S. dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such U.S. dollar-denominated restriction shall be deemed not to have been exceeded so long
as the principal amount of such refinancing Indebted-

  
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ness does not exceed the principal amount of such Indebtedness being refinanced. The principal amount of any Indebtedness incurred to refinance other Indebtedness, if incurred in a different
currency from the Indebtedness being refinanced, shall be calculated based on the currency exchange rate applicable to the currencies in which such respective Indebtedness is denominated that is in effect on the date of such refinancing. 

SECTION 1.09. Interest Rates. The Administrative Agent does not warrant, nor accept responsibility, nor shall the Administrative Agent
have any liability with respect to the administration, submission or any other matter related to any reference rate referred to herein or with respect to any rate (including, for the avoidance of doubt, the selection of such rate and any related
spread or other adjustment) that is an alternative or replacement for or successor to any such rate (including, without limitation, any Successor Rate) (or any component of any of the foregoing) or the effect of any of the foregoing, or of any
Conforming Changes. The Administrative Agent and its affiliates or other related entities may engage in transactions or other activities that affect any reference rate referred to herein, or any alternative, successor or replacement rate (including,
without limitation, any Successor Rate) (or any component of any of the foregoing) or any related spread or other adjustments thereto, in each case, in a manner adverse to the Company. The Administrative Agent may select information sources or
services in its reasonable discretion to ascertain any reference rate referred to herein or any alternative, successor or replacement rate (including, without limitation, any Successor Rate) (or any component of any of the foregoing), in each case
pursuant to the terms of this Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs,
losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or other action or omission related to or affecting the selection, determination, or calculation of any rate (or component thereof) provided
by any such information source or service. 
 Without prejudice to any other provision of this Agreement, each party hereto acknowledges and
agrees for the benefit of the other parties: (a) Term SOFR Rate (i) may be subject to methodological or other changes which could affect value, (ii) may not comply with Applicable Laws and regulations (such as the Regulation (EU)
2016/1011 of the European Parliament and of the Council, as amended (EU Benchmarks Regulation)) and/or (ii) may be permanently discontinued; and (b) the occurrence of any of the aforementioned events may have adverse consequences which may
materially impact the economics of the financing transactions contemplated under this Agreement. 
 SECTION 1.10. LLC Divisions. Any
reference herein to a merger, transfer, consolidation, amalgamation, consolidation, assignment, sale, disposition or transfer, or similar term, shall be deemed to apply to a division of or by a limited liability company, or an allocation of assets
to a series of a limited liability company (or the unwinding of such a division or allocation), as if it were a merger, transfer, consolidation, amalgamation, consolidation, assignment, sale, disposition or transfer, or similar term, as applicable,
to, of or with a separate Person. Any division of a limited liability company shall constitute a separate Person hereunder (and each division of any limited liability company that is a Subsidiary, joint venture or any other like term shall also
constitute such a Person or entity). 
 SECTION 1.11. Effect of Restatement. This Agreement shall amend and restate the Original
Credit Agreement in its entirety, with the parties hereby agreeing that there is no novation of the Original Credit Agreement and from and after the effectiveness of this Agreement, the rights and obligations of the parties under the Original Credit
Agreement shall be subsumed and governed by this Agreement. From and after the effectiveness of this Agreement, the Obligations under the Original Credit Agreement shall continue as Obligations under this Agreement until otherwise paid in accordance
with the terms hereof. 
 ARTICLE II 

The Credits 
 SECTION 2.01.
Outstanding Loans; Commitments. Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make a Term Loan to the Borrower in Dollars on the Closing Date in an

  
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amount not to exceed such Lender’s Term Loan Commitment. Amounts repaid in respect of the Term Loans may not be reborrowed. 

SECTION 2.02. Loans and Borrowings. 

(a) Each Loan shall be made as part of a Borrowing consisting of Loans of the same Type made by the Lenders ratably in accordance with their
respective Commitments. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no Lender shall be
responsible for any other Lender’s failure to make Loans as required. 
 (b) Subject to Section 2.13, each Borrowing shall be
comprised entirely of Base Rate Loans or Term SOFR Loans as the Borrower may request in accordance herewith. Each Lender at its option may make any Term SOFR Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such
Loan; provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement. 

(c) Each Borrowing of, conversion to or continuation of Term SOFR Loans shall be in an aggregate amount that is an integral multiple of
$1,000,000 (or, if not an integral multiple, the entire available amount) and not less than $5,000,000. Each Borrowing of, conversion to or continuation of Base Rate Loans shall be in an aggregate amount that is an integral multiple of
$1,000,000 and not less than $1,000,000 
 (d) Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to
request any Borrowing if the Interest Period requested ends after the Maturity Date. 
 SECTION 2.03. Requests for Borrowings . To
request a Borrowing, a conversion of Loans from one Type to the other or a continuation of Term SOFR Loans, the Borrower shall notify the Administrative Agent of such request, which may be given by (A) telephone or (B) a Committed Loan
Notice; provided that any telephone notice must be confirmed immediately by delivery to the Administrative Agent of a Committed Loan Notice. Each Committed Loan Notice must be received by the Administrative Agent not later than
11:00 a.m. (i) two Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Term SOFR Loans or of any conversion of Term SOFR Loans to Base Rate Loans, and (ii) on the requested date of any
Borrowing of Base Rate Loans. Each Borrowing Request shall be irrevocable. Each Committed Loan Notice shall specify the following information in compliance with Section 2.02: 

(i) the Class of Loans to which such Borrowing Request relates; 

(ii) the aggregate amount of the requested Borrowing, conversion or continuation; 

(iii) the date of such Borrowing, conversion or continuation, which shall be a Business Day; 

(iv) whether such Borrowing, conversion or continuation is to be a Base Rate Borrowing or a Term SOFR Borrowing; 

(v) in the case of a Term SOFR Borrowing, the Interest Period to be applicable thereto, which shall be a period contemplated by
the definition of the term “Interest Period”; 
 (vi) in the case of a Borrowing to be made on the Closing Date,
the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.06; and 

(vii) whether the Borrower is requesting a new Borrowing, a conversion of Loans from one Type to another, or a continuation of
Term SOFR Loans. 

  
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 If no election as to the Type of Borrowing is specified, then the requested Borrowing shall
be a Base Rate Borrowing. In the case of a failure to timely request a conversion or continuation of Term SOFR Loans, such Loans shall be converted to Base Rate Loans on the last day of the applicable Interest Period. If no Interest Period is
specified with respect to any requested Term SOFR Borrowing or conversion or continuation of Term SOFR Loans, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Any automatic conversion to Base Rate
Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Term SOFR Loans. Promptly following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent shall
advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing. Except as otherwise provided herein, a Term SOFR Loan may be continued or converted only on the last day of an
Interest Period for such Term SOFR Loan. During the existence of a Default, no Loans may be requested as, converted to or continued as Term SOFR Loans without the prior written consent of the Required Lenders. 

SECTION 2.04. [Reserved]. 

SECTION 2.05. [Reserved]. 

SECTION 2.06. Funding of Borrowing. 

(a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available funds
by 1:00 p.m., New York City time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders in an amount equal to such Lender’s pro rata share of the Loan requested pursuant to
Section 2.03 (based on the amount of such Lender’s Commitment as a percentage of the aggregate Commitments). The Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like
funds, to an account designated by the Borrower in the Borrowing Request. 
 (b) Unless the Administrative Agent shall have received notice
from a Lender prior to the Closing Date that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date
in accordance with clause (a) of this Section and may, in reliance upon such assumption in its sole discretion, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its Loan available
to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is
made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the Overnight Rate or (ii) in the case of the Borrower, the interest rate applicable to Base Rate Loans. If
such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing. 

(c) If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing
provisions of this Article II, and such funds are not made available to the Borrower by the Administrative Agent because the conditions set forth in Article IV are not satisfied or waived in accordance with the terms hereof, the
Administrative Agent shall promptly return such funds (in like funds as received from such Lender) to such Lender, without interest. 

(d) Each Lender may make any Loan to the Borrower through any Lending Office, provided that the exercise of this option shall not affect the
obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement. 
 SECTION 2.07. Illegality. Subject to
Section 2.19, if any Lender determines that adequate and reasonable means do not exist for any Lender or its applicable Lending Office to determine, make, maintain, fund or charge interest based upon the Term SOFR Rate or any Governmental
Authority has imposed material restrictions on the authority of such Lender to engage in reverse repurchases of U.S. Treasury securities transactions of the type included in the determination of SOFR, or to determine or charge interest rates based
upon Term SOFR or a Successor Rate, then, on notice thereof by such Lender to the Company through the Administrative Agent, (i) any obligation of such Lender to issue, make, maintain, fund or charge interest respect to any such Loan or to make
or continue Term 

  
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SOFR Loans or to convert Base Rate Loans to Term SOFR Loans, shall be suspended, and (ii) if such notice asserts the illegality of such Lender making or maintaining Base Rate Loans the
interest rate on which is determined by reference to the Term SOFR Rate component of the Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent
without reference to the Term SOFR Rate component of the Base Rate, in each case until such Lender notifies the Administrative Agent and the Company that the circumstances giving rise to such determination no longer exist. Upon receipt of such
notice, (x) the Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Term SOFR Loans of such Lender to Base Rate Loans (the interest rate on which Base Rate Loans of such
Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Term SOFR Rate component of the Base Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully
continue to maintain such Term SOFR Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Term SOFR Rate Loans and (y) if such notice asserts the illegality of such Lender determining or charging interest
rates based upon the Term SOFR Rate, the Administrative Agent shall during the period of such suspension compute the Base Rate applicable to such Lender without reference to the Term SOFR Rate component thereof until the Administrative Agent is
advised in writing by such Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon the Term SOFR Rate. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so
prepaid or converted, together with any additional amounts required pursuant to Section 2.15. 
 SECTION 2.08. Termination and
Reduction of Commitments. Each Commitment shall automatically terminate upon the making of the Loan on the Closing Date pursuant to such Commitment pursuant to Section 2.01. 

SECTION 2.09. Repayment of Loans; Evidence of Debt. 

(a) The Borrower hereby unconditionally promises to repay (i) the Term Loans on each March 1, June 1, September 1 and
December 1 (or, if any such day is not a Business Day, the following Business Day), commencing on September 1, 2019, in an amount equal to 1.25% of the original aggregate principal amount of the Term Loans made on the Closing Date and
(ii) on the Maturity Date, the aggregate principal amount of all Term Loans outstanding on such date. 
 (b) [Reserved]. 

(c) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to
such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. 

(d) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the
Class and Type thereof and the Interest Period, if any, applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) the amount of
any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof. 
 (e) The
entries made in the accounts maintained pursuant to clause (c) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein absent manifest error; provided that the
failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement. 

(f) Any Lender may request that Loans made by it be evidenced by Term Notes. In such event, the Borrower shall prepare, execute and deliver to
such Lender Term Notes payable to such Lender and its registered assigns and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such Term Notes and interest thereon shall at all times (including after assignment
pursuant to Section 9.04 of this Agreement) be represented by one or more Term Notes in such form payable to the payee named therein and its registered assigns. 

  
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 SECTION 2.10. Prepayment of Loans. 

(a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing by the Borrower of any Class in whole or
in part, without premium or penalty, subject to prior notice in accordance with clause (a)(ii) of this Section; provided, however, that no prepayments of any Extended Term Loans of any series shall be permitted pursuant to
this Section 2.10(a) so long as any Loans of any Existing Term Loan Class from which such Extended Term Loans were converted remain outstanding unless such prepayment is accompanied by a pro rata (or greater
proportionate) prepayment of Loans of such Existing Term Loan Class. 
 (b) The Borrower shall notify the Administrative Agent in a
form reasonably acceptable to the Administrative Agent of any prepayment hereunder (i) in the case of prepayment of a Term SOFR Borrowing, not later than 2:00 p.m., New York City time, two (2) Business Days before the date of
prepayment or (ii) in the case of prepayment of a Base Rate Borrowing, not later than noon, New York City time, on the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date, the Class or Classes of
Loans to be repaid and the principal amount of each Borrowing or portion thereof to be prepaid; provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by
Section 2.08, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.08. Promptly following receipt of any such notice relating to a Borrowing, the Administrative Agent shall
advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in Section 2.02. Each prepayment of Loans
pursuant to this Section 2.10(a) shall be applied to repayments thereof required pursuant to Section 2.09 in the order selected by the Borrower. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the
notice of prepayment. Prepayments pursuant to this Section 2.10(a) shall be accompanied by accrued interest to the extent required by Section 2.12 and shall be subject to Section 2.15. Each prepayment shall be applied to Term
Loans as the Borrower shall direct. Each prepayment of any Term Loans shall be applied to reduce the subsequent scheduled repayments of the Term Loans to be made pursuant to Section 2.09(a) in the manner directed by the Borrower or, in the
absence of such direction, in direct order of maturity. 
 SECTION 2.11. Fees. 

(a) The Company agrees to pay all fees required to be paid by it in connection with this Agreement as separately agreed in writing by the
Company, the Administrative Agent, the Arranger and/or any Lender at the times set forth therein. 
 (b) All fees payable hereunder shall be
paid on the dates due, in Dollars and immediately available funds, to the Administrative Agent for distribution to the Lenders, as applicable. Fees paid shall not be refundable under any circumstances. 

SECTION 2.12. Interest. 

(a) The Loans comprising each Base Rate Borrowing shall bear interest at the Base Rate in effect from time to time plus the Applicable Rate.

 (b) The Loans comprising each Term SOFR Borrowing shall bear interest at Term SOFR for the Interest Period in effect for such Borrowing
plus the Applicable Rate. Notwithstanding anything herein to the contrary, for all periods prior to the effectiveness of the Amendment No. 2 Effective Date, Loans shall bear interest in accordance with the terms of the Existing Credit Agreement
(as defined in Amendment No. 2). 
 (c) Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee or other
amount payable by the Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before judgment, at a rate per annum equal to (i) in the case
of overdue principal of any Loan, 2% plus the rate otherwise applicable to such Loan as provided in the preceding clauses of this Section or (ii) in the case of any other amount, 2% plus the rate applicable to Base Rate
Loans, as provided in clause (a) of this Section (the “Default Rate”). 

  
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 (d) Accrued interest on the Loans shall be payable by the Borrower in arrears on each
Interest Payment Date; provided that (i) interest accrued pursuant to clause (c) of this Section shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan, accrued interest on the
principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion of any Term SOFR Loan prior to the end of the current Interest Period therefor, accrued interest on such
Loan shall be payable on the effective date of such conversion. 
 (e) All interest and fees hereunder shall be computed on the basis of a
year of 360 days, except that interest (i) computed by reference to the Base Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year). The applicable Base Rate or Term SOFR shall be determined by the Administrative
Agent in accordance with the provisions of this Agreement, and such determination shall be conclusive absent manifest error. 
 SECTION
2.13. Inability to Determine Rates. If in connection with any request for a Term SOFR Loan or a conversion of Base Rate Loans to Term SOFR Loans or a continuation of any of such Loans, as applicable, (1) the Administrative Agent
determines (which determination shall be conclusive absent manifest error) that (A) no Successor Rate for Term SOFR has been determined in accordance with Section 2.19, and the circumstances under Section 2.19 or the Scheduled
Unavailability Date has occurred with respect to Term SOFR (as applicable), or (B) adequate and reasonable means do not otherwise exist for determining Term SOFR for any determination date(s) or requested Interest Period, as applicable, with
respect to a proposed Term SOFR Loan or in connection with an existing or proposed Base Rate Loan, or (2) the Administrative Agent or the Required Lenders determine that for any reason that Term SOFR with respect to a proposed Loan for any
requested Interest Period or determination date(s) does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will promptly so notify the Company and each Lender. 

Thereafter, (x) the obligation of the Lenders to make or maintain Term SOFR Loans, or to convert Base Rate Loans to Term SOFR Loans,
shall be suspended in each case to the extent of the affected Term SOFR Loans or Interest Period or determination date(s), as applicable, and (y) in the event of a determination described in the preceding sentence with respect to the Term SOFR
component of the Base Rate, the utilization of the Term SOFR component in determining the Base Rate shall be suspended, in each case until the Administrative Agent (or, in the case of a determination by the Required Lenders described in clause
(2) above of this Section 2.13, until the Administrative Agent upon instruction of the Required Lenders) revokes such notice. 

Upon receipt of such notice, (i) the Company may revoke any pending request for a Borrowing of, or conversion to, or continuation of Term
SOFR Loans to the extent of the affected Term SOFR Loans or Interest Period or determination date(s), as applicable or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans denominated in
Dollars of the amount specified therein and (ii) any outstanding Term SOFR Loans shall be deemed to have been converted to Base Rate Loans immediately at the end of their respective applicable Interest Period. 

SECTION 2.14. Increased Costs. 
  

	 	(a)	 If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit or similar requirement against assets of, deposits with or
for the account of, or credit extended by, any Lender; or 
 (ii) subject a Lender (or its applicable lending office) to
any additional Tax (other than any Excluded Taxes, or any Other Taxes or Indemnified Taxes indemnified under Section 2.16) with respect to any Loan Document; 

and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any Loan or of maintaining its obligation to make
any such Loan or to increase the cost to such Lender or to reduce the amount of any sum received or receivable by such Lender hereunder, whether of principal, interest or otherwise, in each case by an amount deemed by such Lender to be material in
the context of its making of, and participation in, extensions of credit under this Agreement, then, upon the request of such Lender the Borrower will pay to such 

  
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Lender such additional amount or amounts as will compensate such Lender for such additional costs incurred or reduction suffered. 

(b) If any Lender determines in good faith that any Change in Law regarding capital or liquidity requirements has or would have the effect of
reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a consequence of this Agreement or the Loans made by such Lender to a level below that which such Lender or such
Lender’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s policies and the policies of such Lender’s holding company with respect to capital adequacy), then from time to time,
upon the request of such Lender, the Company will pay to such Lender such additional amount or amounts as will compensate such Lender or such Lender’s holding company for any such reduction suffered. 

(c) A certificate of a Lender setting forth in reasonable detail the amount or amounts necessary to compensate such Lender or its holding
company, as the case may be, as specified in clause (a) or (b) of this Section shall be delivered to the Company and shall be conclusive absent manifest error. The Company (shall pay such Lender the amount shown as due on any
such certificate within ten (10) days (or such later date as may be agreed by the applicable Lender) after receipt thereof. 
 (d)
Failure or delay on the part of any Lender to demand compensation pursuant to this Section shall not constitute a waiver of such Lender’s right to demand such compensation; provided that the Borrower shall not be required to
compensate a Lender pursuant to this Section for any increased costs or reductions incurred more than 135 days prior to the date that such Lender notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and
of such Lender’s intention to claim compensation therefor; provided further that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 135-day period
referred to above shall be extended to include the period of retroactive effect thereof. 
 SECTION 2.15. Break Funding Payments. In
the event of (a) the payment of any principal of any Term SOFR Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default or as a result of any prepayment pursuant to
Section 2.10), (b) the conversion of any Term SOFR Loan other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert continue or prepay any Term SOFR Loan on the date specified in any notice
delivered pursuant hereto (regardless of whether such notice may be revoked under Section 2.10 and is revoked in accordance therewith) or (d) the assignment of any Term SOFR Loan other than on the last day of the Interest Period
applicable thereto as a result of a request by the Borrower pursuant to Section 2.18, then, in any such event, the Borrower shall compensate each Lender for the loss, cost and expense (excluding loss of anticipated profit) attributable to
such event. Such loss, cost or expense to any Lender may be deemed to include an amount determined by such Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the principal amount of such Loan had such
event not occurred, at Term SOFR that would have been applicable to such Loan (and excluding any Applicable Rate), for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure
to borrow, convert or continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue on such principal amount for such period at the interest rate which such Lender would
bid were it to bid, at the commencement of such period, for deposits in the relevant currency of a comparable amount and period from other banks in the eurocurrency market. A certificate of any Lender setting forth in reasonable detail any amount or
amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within
ten (10) days (or such later date as may be agreed by the applicable Lender) after receipt thereof. 
 SECTION 2.16. Taxes.

 (a) All sums payable by the Borrower under any Loan Document to the Administrative Agent or any Lender shall be made free and clear of
and without deduction for any Taxes, unless required by applicable Laws. 
 (b) If the Borrower or any other applicable withholding agent
shall be required by Law to deduct any Taxes from or in respect of any sum payable under any Loan Document, then (i) the Borrower or other applicable withholding agent shall make such deductions and pay to the relevant Governmental Authority
any such Tax before 

  
 28 

 
the date on which penalties attach thereto in accordance with applicable Law, (ii) if the Tax in question is an Indemnified Tax or an Other Tax, the sum payable by the Borrower to such
Lender or Administrative Agent (as applicable) shall be increased by the Borrower as necessary so that after all required deductions have been made (including deductions applicable to additional sums payable under this
Section 2.16) the Lender or Administrative Agent receives an amount equal to the sum it would have received had no such deductions been made, (iii) within thirty days after paying any sum from which it is required by Law to make any
deduction, and within thirty days after the due date of payment of any Tax which it is required by clause (i) above to pay, the Borrower making such payments shall deliver to the Administrative Agent the original or a certified copy of a
receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 

(c) In addition, the Borrower shall pay any Other Taxes to the relevant Governmental Authority in accordance with applicable Law. 

(d) Each Lender shall, at such times as are reasonably requested by the Borrower or the Administrative Agent, provide the Borrower and the
Administrative Agent with any documentation prescribed by Laws or reasonably requested by the Borrower or the Administrative Agent certifying as to any entitlement of such Lender to an exemption from, or reduction in, any applicable withholding Tax
with respect to any payments to be made to such Lender under any Loan Document. Each such Lender shall, whenever a lapse in time or change in circumstances renders any such documentation (including any specific documentation required below in this
Section 2.16(d)) obsolete, expired or inaccurate in any material respect, deliver promptly to the Borrower and the Administrative Agent updated or other appropriate documentation (including any new documentation reasonably requested by the
Borrower or the Administrative Agent) or promptly notify the Borrower and the Administrative Agent in writing of its inability to do so. 

Without limiting the foregoing: 

(1) Each U.S. Lender shall deliver to the Company and the Administrative Agent on or before the date on which it becomes a
party to this Agreement two properly completed and duly signed original copies of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup withholding. 

(2) Each Foreign Lender shall deliver to the Company and the Administrative Agent on or before the date on which it becomes a
party to this Agreement whichever of the following is applicable: 
 (A) two properly completed and duly signed original
copies of IRS Form W-8BEN (or any successor forms) claiming eligibility for the applicable benefits of an income tax treaty to which the United States is a party, and such other documentation as
required under the Code, 
 (B) two properly completed and duly signed original copies of IRS
Form W-8ECI (or any successor forms), 
 (C) in the case of a Foreign Lender
claiming the benefits of the exemption for portfolio interest under Section 871(h) or Section 881(c) of the Code, (A) two properly completed and duly signed certificates substantially in the form of
Exhibit E-1, E-2, E-3 or E-4, as
applicable (any such certificate, a “United States Tax Compliance Certificate”) and (B) two properly completed and duly signed original copies of IRS Form W-8BEN or Form W-8BEN-E, as applicable (or any successor forms), 

(D) to the extent a Foreign Lender is not the beneficial owner (for example, where the Foreign Lender is a partnership or a
participating Lender), IRS Form W-8IMY (or any successor forms) of the Foreign Lender, accompanied by a Form W-8ECI,
W-8BEN or W-8BEN-E, as applicable, United States Tax Compliance Certificate,
Form W-9, Form W-8IMY or any other required information (or any successor forms) from each beneficial owner that would be required under this
Section 2.16(d) if such beneficial owner were a Lender, as applicable (provided that if the Foreign Lender is a partnership (and not a participating Lender) and one or more beneficial

  
 29 

 
owners are claiming the portfolio interest exemption, the United States Tax Compliance Certificate may be provided by such Foreign Lender on behalf of such beneficial owners), or 

(E) two properly completed and duly signed original copies of any other form prescribed by applicable U.S. federal income
tax laws (including the Treasury Regulations) as a basis for claiming a complete exemption from, or a reduction in, United States federal withholding Tax on any payments to such Lender under the Loan Documents. 

(3) If a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if
such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Company and the
Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Company or the Administrative Agent such documentation prescribed by applicable Law (including as prescribed by
Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Company or the Administrative Agent as may be necessary for the Company and the Administrative Agent to comply with their FATCA
obligations, to determine whether such Lender has or has not complied with such Lender’s FATCA obligations and, if necessary, to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (3),
“FATCA” shall include any amendments made to FATCA after the Closing Date. 
 Notwithstanding any other provision of this
Section 2.16(d), a Lender shall not be required to deliver any documentation that such Lender is not legally eligible to deliver. 

(e) The Borrower shall indemnify the Administrative Agent or a Lender (each a “Tax Indemnitee”), within ten (10) days
after written demand therefor, for the full amount of any Indemnified Taxes paid or payable by the Tax Indemnitee on or with respect to any payment by or on account of any obligation of the Borrower under any Loan Document, and any Other Taxes paid
or payable by the Tax Indemnitee (including any Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section 2.16), whether or not such Indemnified Taxes or Other Taxes were correctly or legally
imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability prepared in good faith and delivered to the Tax Indemnitee, or by the Administrative Agent on its own behalf or on behalf of
another Tax Indemnitee, shall be conclusive absent manifest error. 
 (f) If and to the extent a Tax Indemnitee determines, in its sole good
faith discretion, that it has received a refund of any Indemnified Taxes or Other Taxes as to which it has been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this Section 2.16, then
such Tax Indemnitee shall promptly pay over such refund to the Borrower (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this Section 2.16 with respect to the Indemnified Taxes or Other Taxes
giving rise to such refund), net of all out-of-pocket expenses (including any Taxes) of the Tax Indemnitee and without interest (other than any interest paid by the
relevant Governmental Authority with respect to such refund); provided that the Borrower, upon the request of the Tax Indemnitee, agrees to repay the amount paid over to the Borrower (plus any penalties, interest or other charges imposed by
the relevant Governmental Authority) to the Tax Indemnitee in the event the Tax Indemnitee is required to repay such refund to such Governmental Authority. This Section 2.16(f) shall not be construed to require a Tax Indemnitee to
make available its tax returns (or any other information relating to its Taxes which it deems confidential) to the Borrower or any other Person. 

SECTION 2.17. Payments Generally; Pro Rata Treatment; Sharing of Setoffs. 

(a) The Borrower shall make each payment required to be made by it hereunder (whether of principal, interest or fees or of amounts payable
under Section 2.14, 2.15 or 2.16, or otherwise) without condition or deduction for any counterclaim, defense, recoupment or setoff prior to 2:00 p.m., on the date when due, in immediately available funds. Any amounts received after
such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative
Agent’s Office, except that payments pursuant to Sections 2.14, 2.15, 2.16 and 9.03 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for the account of any
other Person to the appropriate recipient promptly following 

  
 30 

 
receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any
payment accruing interest or fees, interest or fees thereon shall be payable for the period of such extension. 
 (b) If at any time prior
to an exercise of remedies pursuant to Article VII (or prior to the date of termination of the Commitments in full and acceleration of the Loans pursuant to Article VII), insufficient funds are received by and available to the
Administrative Agent to pay fully all amounts of principal, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the parties entitled thereto in
accordance with the amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal then due to such
parties. 
 (c) After the exercise of remedies provided for in Article VII (or after acceleration of the Loans pursuant to
Article VII), any amounts received on account of the Obligations shall be applied by the Administrative Agent as follows: 

First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts
(including fees, charges and disbursements of counsel to the Administrative Agent and amounts payable under Article II) payable to the Administrative Agent and the Arranger in their capacities as such; 

Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than
principal, interest and fees payable pursuant to Sections 2.11(a) and (b)) payable to the Lenders (including fees, charges and disbursements of counsel to the respective Lenders arising under the Loan Documents), ratably among them in
proportion to the respective amounts described in this clause Second payable to them; 
 Third, to payment of
that portion of the Obligations constituting accrued and unpaid fees and interest on the Loans and other Obligations arising under the Loan Documents, ratably among the Lenders in proportion to the respective amounts described in this
clause Third payable to them; 
 Fourth, to payment of that portion of the Obligations constituting unpaid
principal of the Loans; and 
 Last, the balance, if any, after all of the Obligations have been indefeasibly paid in
full, to the Borrower or as otherwise required by Law. 
 (d) If any Lender shall, by exercising any right of setoff or counterclaim or
otherwise, obtain payment in respect of any principal of or interest on any of its Loans resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Loans and accrued interest and fees thereon than the
proportion received by any other Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Loans of other Lenders to the extent necessary so that the benefit of all such payments
shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans; provided that (i) if any such participations are purchased and all or any portion of the
payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this clause shall not be construed to apply to
any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or to any assignee or
participant in accordance with Section 9.04. The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable Law, that any Lender acquiring a participation pursuant to the foregoing arrangements may
exercise against the Borrower rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of the Borrower in the amount of such participation. 

(e) Unless the Administrative Agent shall have received notice from the Company prior to the date on which any payment is due to the
Administrative Agent for the account of the Lenders that the Borrower will not 

  
 31 

 
make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the
Lenders the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender, in Same Day Funds
with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the Overnight Rate. A notice of the Administrative Agent to any Lender or the
Borrower with respect to any amount owing under this subsection (e) shall be conclusive, absent manifest error. 
 With respect to
any payment that the Administrative Agent makes for the account of the Lenders hereunder as to which the Administrative Agent determines (which determination shall be conclusive absent manifest error) that any of the following applies (such payment
referred to as the “Rescindable Amount”): (1) the Company has not in fact made such payment; (2) the Administrative Agent has made a payment in excess of the amount so paid by the Company (whether or not then owed); or
(3) the Administrative Agent has for any reason otherwise erroneously made such payment; then each of the Lenders severally agrees to repay to the Administrative Agent forthwith on demand the Rescindable Amount so distributed to such Lender, in
immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate and a rate
determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. 
 (f) If any Lender shall fail
to make any payment required to be made by it pursuant to Section 2.04, 2.05, 2.06, 2.17 or 9.03, then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the
Administrative Agent for the account of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid. The obligations of the Lenders hereunder to make Loans and to make payments
are several and not joint. The failure of any Lender to make any Loan, to fund any such participation or to make any payment on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and
no Lender shall be responsible for the failure of any other Lender to so make its Loan, to purchase its participation or to make its payments. 

SECTION 2.18. Mitigation Obligations; Replacement of Lenders. 

(a) If any Lender requests compensation under Section 2.14, or if the Borrower is required to pay any additional amount to any Lender or
any Governmental Authority for the account of any Lender pursuant to Section 2.16, then upon request of the Borrower such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or
to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the good faith judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to
Section 2.14 or 2.16, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Company hereby agrees to pay all reasonable out-of-pocket costs and expenses incurred by any Lender in connection with any such designation or assignment. Any Lender claiming reimbursement of such costs and expenses
shall deliver to the Company, a certificate setting forth such costs and expenses in reasonable detail which shall be conclusive absent manifest error. 

(b) If any Lender requests compensation under Section 2.14, or if the Borrower is required to pay any additional amount to any Lender or
any Governmental Authority for the account of any Lender pursuant to Section 2.16, if any Lender fails to grant a consent in connection with any proposed change, waiver, discharge or termination of the provisions of this Agreement as
contemplated by Section 9.02 for which the consent of each Lender or each affected Lender is required but the consent of the Required Lenders is obtained or if any other circumstance exists hereunder that gives the Borrower the right to replace
a Lender as a party hereto, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the
restrictions contained in, but excluding the consents required by, Section 9.04), all of its interests, rights and obligations under this Agreement and the related Loan Documents to an assignee that shall assume such obligations (which assignee
may be another Lender, if a Lender accepts such assignment), provided that: 

  
 32 

 (i) the Borrower shall have paid to the Administrative Agent the assignment
fee specified in Section 9.04 (unless otherwise agreed by the Administrative Agent); 
 (ii) such Lender shall have
received payment of an amount equal to the outstanding principal of its Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under
Section 2.15) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts); 

(iii) in the case of any such assignment resulting from a claim for compensation under Section 2.14 or payments required
to be made pursuant to Section 2.16, such assignment will result in a reduction in such compensation or payments thereafter; and 

(iv) such assignment does not conflict with applicable Laws. 

(c) A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or
otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. 
 SECTION 2.19.
Replacement of Term SOFR or Successor Rate. Notwithstanding anything to the contrary in this Agreement or any other Loan Documents, if the Administrative Agent determines (which determination shall be conclusive absent manifest error), or the
Company or Required Lenders notify the Administrative Agent (with, in the case of the Required Lenders, a copy to the Company) that the Company or Required Lenders (as applicable) have determined, that: 

(a) adequate and reasonable means do not exist for ascertaining one month, three month and six month interest periods of Term SOFR, including,
without limitation, because the Term SOFR Screen Rate is not available or published on a current basis and such circumstances are unlikely to be temporary; or 

(b) CME or any successor administrator of the Term SOFR Screen Rate or a Governmental Authority having jurisdiction over the Administrative
Agent or such administrator with respect to its publication of Term SOFR, in each case acting in such capacity, has made a public statement identifying a specific date after which one month, three month and six month interest periods of Term SOFR or
the Term SOFR Screen Rate shall or will no longer be made available, or permitted to be used for determining the interest rate of Dollar-denominated syndicated loans, or shall or will otherwise cease, provided that, at the time of such statement,
there is no successor administrator that is satisfactory to the Administrative Agent, that will continue to provide such interest periods of Term SOFR after such specific date (the latest date on which one month, three month and six month interest
periods of Term SOFR or the Term SOFR Screen Rate are no longer available permanently or indefinitely, the “Scheduled Unavailability Date”); 

then, on a date and time determined by the Administrative Agent (any such date, the “Term SOFR Replacement Date”), which date
shall be at the end of an Interest Period or on the relevant interest payment date, as applicable, for interest calculated and, solely with respect to clause (b) above, no later than the Scheduled Unavailability Date, Term SOFR will be replaced
hereunder with Daily Simple SOFR plus the SOFR Adjustment for any payment period for interest calculated that can be determined by the Administrative Agent, in each case, without any amendment to, or further action or consent of any other party to,
this Agreement (the “Term SOFR Successor Rate”). If the Term SOFR Successor Rate is Daily Simple SOFR plus the SOFR Adjustment, all interest payments will be payable on a monthly basis. 

Notwithstanding anything to the contrary herein, (i) if the Administrative Agent determines that Daily Simple SOFR is not available on or
prior to the Term SOFR Replacement Date, or (ii) if the events or circumstances of the type described in clauses (i) or (ii) above have occurred with respect to the Term SOFR Successor Rate or any other Successor Rate then in effect, then
in each case, the Administrative Agent and the Company may amend this Agreement solely for the purpose of replacing any then-current Successor Rate in accordance with this Section 2.19, with an alternative benchmark rate giving due
consideration to any evolving or then existing convention for similar credit facilities syndicated and agented in the United States and denominated in Dollars for such alternative bench-

  
 33 

 
marks and, in each case, including any mathematical or other adjustments to such benchmark giving due consideration to any evolving or then-existing convention for similar credit facilities
syndicated and agented in the United States and denominated in Dollars for such benchmarks, which adjustment or method for calculating such adjustment shall be published on an information service as selected by the Administrative Agent from time to
time in its reasonable discretion and may be periodically updated (and any such proposed rate, including for the avoidance of doubt, any adjustment thereto a “Successor Rate”). Any such amendment shall become effective at 5:00 p.m.
on the fifth Business Day after the Administrative Agent shall have posted such proposed amendment to all Lenders and the Company unless, prior to such time, Lenders comprising the Required Lenders have delivered to the Administrative Agent written
notice that such Required Lenders object to such amendment. 
 The Administrative Agent will promptly (in one or more notices) notify the
Company and each Lender of the implementation of any Successor Rate. 
 Any Successor Rate shall be applied in a manner consistent with
market practice; provided that to the extent such market practice is not administratively feasible for the Administrative Agent, such Successor Rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent. 

Notwithstanding anything else herein, if at any time any Successor Rate as so determined would otherwise be less than zero, the Successor Rate
will be deemed to be zero for the purposes of this Agreement. 
 In connection with the implementation of a Successor Rate, the
Administrative Agent will have the right, in consultation with the Borrower, to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming
Changes will become effective without any further action or consent of any other party to this Agreement; provided that, with respect to any such amendment effected, the Administrative Agent shall post each such amendment implementing such
Conforming Changes to the Company and the Lenders reasonably promptly after such amendment becomes effective. 
 SECTION 2.20. Extended
Term Loans. 
 (a) The Borrower may at any time and from time to time request that all or a portion of its Loans of any Class in an
aggregate principal amount of not less than $100,000,000 (or, if less, the entire remaining amount of such Class) (an “Existing Term Loan Class”) be converted to extend the scheduled maturity date(s) of any payment of
principal with respect to all or a portion of any principal amount of such Loans (any such Loans which have been so converted, “Extended Term Loans”) and to provide for other terms consistent with this Section 2.20. In
order to establish any Extended Term Loans, the Borrower shall provide a notice to the Administrative Agent (who shall provide a copy of such notice to each of the Lenders under the Existing Term Loan Class) (an “Extension
Request”) setting forth the proposed terms of the Extended Term Loans to be established, which shall be consistent with the Loans under the Existing Term Loan Class from which such Extended Term Loans are to be converted except
that: 
 (i) all or any of the scheduled amortization payments of principal of the Extended Term Loans may be delayed to
later dates than the scheduled amortization payments of principal of the Term Loans of such Existing Term Loan Class to the extent provided in the applicable Additional Credit Extension Amendment; and 

(ii) the interest margins with respect to the Extended Term Loans may be different than the Applicable Rate for the Loans of
such Existing Term Loan Class and upfront fees may be paid to the Extending Term Lenders to the extent provided in the applicable Additional Credit Extension Amendment. 

(b) Any Extended Term Loans converted pursuant to any Extension Request shall be designated a series of Extended Term Loans for all purposes
of this Agreement; provided that, subject to the limitations set forth in clause (a) above, any Extended Term Loans converted from an Existing Term Loan Class may, to the extent provided in the applicable Additional Credit
Extension Amendment and consistent with the requirements set forth above, be designated as an increase in any previously established Class of Loans. 

  
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 (c) The Borrower shall provide the applicable Extension Request at least five
(5) Business Days prior to the date on which Lenders under the applicable Existing Term Loan Class are requested to respond. No Lender shall have any obligation to agree to have any of its Loans of any Existing Term Loan
Class converted into Extended Term Loans pursuant to any Extension Request. Any Lender wishing to have all or a portion of its Loans under the Existing Term Loan Class subject to such Extension Request (such Lender an “Extending
Term Lender”) converted into Extended Term Loans shall notify the Administrative Agent (an “Extension Election”) on or prior to the date specified in such Extension Request of the amount of its Loans under the
Existing Term Loan Class which it has elected to request be converted into Extended Term Loans (subject to any minimum denomination requirements reasonably imposed by the Administrative Agent and acceptable to the Company). In the event that
the aggregate amount of Loans under the Existing Term Loan Class subject to Extension Elections exceeds the amount of Extended Term Loans requested pursuant to an Extension Request, Loans of the Existing Term Loan Class subject to
Extension Elections shall be converted to Extended Term Loans on a pro rata basis based on the amount of Loans included in each such Extension Election (subject to any minimum denomination requirements reasonably imposed by the Administrative Agent
and acceptable to the Company). 
 (d) Extended Term Loans shall be established pursuant to an Additional Credit Extension Amendment to this
Agreement among the Borrower, the Administrative Agent and each Extending Term Lender which shall be consistent with the provisions set forth above (but which shall not require the consent of any other Lender other than those consents required
pursuant to this Agreement). Each Additional Credit Extension Amendment shall be binding on the Lenders, the Borrower and the other parties hereto. No Lender shall be under any obligation to provide any Extended Term Loan. 

(e) The provisions of this Section 2.20 shall override any provision of Section 9.02 to the contrary. 

ARTICLE III 
 Representations
and Warranties 
 The Borrower represents and warrants to the Lenders as of the Closing Date: 

SECTION 3.01. Organization; Powers; Subsidiaries. Each of the Company and its Subsidiaries (other than Immaterial Subsidiaries) is
duly organized, validly existing and in good standing (to the extent such concept is applicable in the relevant jurisdiction) under the laws of the jurisdiction of its organization, has all requisite power and authority to carry on its business
as now conducted and, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, is qualified to do business in, and is in good standing (to the extent such concept
is applicable) in, every jurisdiction where such qualification is required. Schedule 3.01 hereto identifies each Subsidiary (other than Immaterial Subsidiaries) on the Closing Date, the jurisdiction of its
incorporation or organization, as the case may be, the percentage of issued and outstanding shares of each class of its capital stock or other Equity Interests owned by the Company and the other Subsidiaries and, if such percentage is not 100%
(excluding directors’ qualifying shares as required by law), a description of each class issued and outstanding. All of the outstanding shares of capital stock and other Equity Interests, to the extent owned by the Company or any Subsidiary, of
each Subsidiary (other than Immaterial Subsidiaries) are validly issued and outstanding and fully paid and nonassessable and all such shares and other Equity Interests indicated on Schedule 3.01 hereto as owned by the
Borrower or another Subsidiary are owned, beneficially and of record, by the Company or a Subsidiary on the Closing Date free and clear of all Liens, other than Liens permitted under Section 6.02. As of the Closing Date, there are no
outstanding commitments or other obligations of the Company or any wholly-owned Subsidiary (other than Immaterial Subsidiaries) to issue, and no options, warrants or other rights of any Person to acquire, any shares of any class of capital
stock or other Equity Interests of the Company or any Subsidiary (other than Immaterial Subsidiaries), except as disclosed on Schedule 3.01 hereto. 

SECTION 3.02. Authorization; Enforceability. The execution, delivery and performance of the Loan Documents to which the Borrower is
party are within the Borrower’s corporate powers and have been duly authorized by all necessary corporate or other organizational and, if required, stockholder action. The Loan Documents have been duly executed and delivered by the Borrower
party thereto and constitute a legal, valid and binding obligation of the Borrower party thereto, enforceable against the Borrower in accordance with their terms, subject to 

  
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applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether
considered in a proceeding in equity or at law. 
 SECTION 3.03. Governmental Approvals; No Conflicts. The execution, delivery and
performance of the Loan Documents to which the Borrower is party (a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except for (A) the approvals, consents,
registrations, actions and filings which have been duly obtained, taken, given or made and are in full force and effect and (B) those approvals, consents, registrations or other actions or filings, the failure of which to obtain or make could
not reasonably be expected to have a Material Adverse Effect, (b) will not violate (i) any applicable Law or regulation or order of any Governmental Authority or (ii) the charter, by-laws or
other organizational documents of the Borrower, (c) will not violate or result in a default under any indenture, agreement or other instrument binding upon the Borrower or its assets, or give rise to a right thereunder to require any payment to
be made by the Borrower and (d) will not result in the creation or imposition of any Lien on any material asset of the Borrower (other than Liens permitted by Section 6.02); except with respect to any violation or default referred to in
clause (b)(i) or (c) above, to the extent that such violation or default could not reasonably be expected to have a Material Adverse Effect. 

SECTION 3.04. Financial Statements; Financial Condition; No Material Adverse Change. 

(a) The Company Audited Financial Statements were prepared in accordance with GAAP, except as otherwise expressly noted therein and fairly
present in all material respects the financial condition of the Company and its Subsidiaries taken as a whole as of the date thereof and their results of operations for the period covered thereby. 

(b) [Reserved]. 
 (c) Since
February 28, 2021, there has been no material adverse change in the business, assets, operations or financial condition of the Borrower and its Subsidiaries, taken as a whole. 

SECTION 3.05. Properties. 

(a) The Borrower has good and marketable title to, or valid leasehold interests in, all its material real and personal property material
to its business, except for minor defects in title that do not interfere with its ability to conduct its business as currently conducted or to utilize such properties for their intended purposes and except where the failure to have such
title or interest could not reasonably be expected to have a Material Adverse Effect. There are no Liens on any of the real or personal properties of the Borrower or any Subsidiary (other than Immaterial Subsidiaries) except for Liens
permitted by Section 6.02. 
 (b) Each of the Borrower and its Subsidiaries owns, or is licensed or possesses the right to use, all
trademarks, tradenames, copyrights, patents and other intellectual property material to the operation of the business of the Borrower and its Subsidiaries, taken as a whole, and, to the knowledge of the Borrower, the use thereof by the Borrower and
its Subsidiaries does not infringe upon the rights of any other Person, except for any such infringements that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

SECTION 3.06. Litigation. There are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending
against or, to the knowledge of the Company, threatened against or affecting the Company or any of its Subsidiaries as to which there is a reasonable possibility of an adverse determination that would reasonably be expected, individually or in the
aggregate, to result in a Material Adverse Effect (other than the Disclosed Matters). There are no labor controversies pending against or, to the knowledge of the Company, threatened against or affecting the Company or any of its Subsidiaries which
would reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect. 
 SECTION 3.07. Compliance with
Laws . Each of the Company and its Subsidiaries is in compliance with all laws, regulations and orders of any Governmental Authority applicable to it or its property, including appli-

  
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cable local narcotics-related laws, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. The Company and
its Subsidiaries are in compliance with (a) the Controlled Substances Act, the Civil Asset Forfeiture Reform Act (solely as it relates to violation of the Controlled Substances Act) and all related applicable anti-money laundering laws and
(b) all other anti-money laundering laws, including the Canadian AML Acts, except, solely in the case of this clause (b), where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a
Material Adverse Effect, and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator against the Company or any of its Subsidiaries or any of their respective properties with respect to the
Controlled Substances Act, the Civil Asset Forfeiture Reform Act or any related applicable anti-money laundering laws (in each case, solely as it relates to an alleged violation of the Controlled Substances Act) is pending or, to the best
knowledge of the Company, threatened. 
 SECTION 3.08. Investment Company Status. The Company is not required to register as an
“investment company” as defined in the Investment Company Act of 1940. 
 SECTION 3.09. Disclosure. No reports, financial
statements, certificates or other written information (excluding any financial projections or pro forma financial information and information of a general economic or general industry nature) furnished by or on behalf of the Company to the
Administrative Agent or any Lender in connection with the negotiation of this Agreement or delivered hereunder (as modified or supplemented by other information so furnished), when taken as a whole and when taken together with the Company’s SEC
filings at such time, contains as of the date such statement, information, document or certificate was so furnished any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading. The projections and pro forma financial information contained in the materials referenced above have been prepared in good faith based upon assumptions believed by management of the Company
to be reasonable at the time made, it being recognized by the Lenders that such financial information is not to be viewed as fact and that actual results during the period or periods covered by such financial information may differ from the
projected results set forth therein by a material amount. 
 SECTION 3.10. Federal Reserve Regulations. No part of the proceeds of
any Loan have been used or will be used, whether directly or, to the knowledge of the Borrower, indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and X. The Borrower is not
engaged and will not engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (as the term “margin stock” is defined for purposes of Regulation U), or extending credit for the
purpose of purchasing or carrying margin stock. 
 SECTION 3.11. PATRIOT Act . The Company and its Subsidiaries are in
compliance, in all material respects, with the Act. 
 SECTION 3.12. Sanctions. None of the Company, any Subsidiary nor, to the
knowledge of the Company, any director, officer or employee of the Borrower or any Subsidiary is the subject of any sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”), the US
Department of State, the Canadian Government, the United Nations Security Council, the European Union or Her Majesty’s Treasury (collectively, “Sanctions”), is located, organized or resident in a Sanctioned Country or
Territory, or is engaging in activities that would be prohibited by Sanctions unless any of the prohibited behavior, activities or business are authorized pursuant to a specific or general license, license exception, license exemption, other
exception or exemption, or other permit or authorization from the applicable Governmental Authorities (such authorities to include, at all times, the applicable U.S. Government Authorities). The Borrower will not directly or indirectly use the
proceeds of the Loans (a) to fund activities (i) in any Sanctioned Country or Territory, or (ii) of any Person that, at the time of such funding, is the subject of Sanctions unless, with respect to clauses (i) and (ii) above, the
proceeds are used for activities or business authorized pursuant to a specific or general license, license exception, license exemption, other exception or exemption, or other permit or authorization from the applicable Governmental Authorities
(such authorities to include, at all times, OFAC and any other applicable U.S. Governmental Authorities) or (b) in any other manner that would result in a violation of Sanctions by any Person (including any Person participating in the Loans,
whether as underwriter, advisor, investor or otherwise). 

  
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 SECTION 3.13. Anti-Corruption. No part of the proceeds of the Loans will be used,
directly or, to the knowledge of the Borrower, indirectly, for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in
order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”), the Corruption of Foreign Public Officials Act (Canada)
and regulations thereunder, or the United Kingdom Bribery Act 2010 (the “UK Bribery Act”). The Borrower, nor to the knowledge of the Borrower, any director, officer, agent, employee or other person acting on behalf of the Borrower
or any of its Subsidiaries is in violation of the FCPA, the Corruption of Foreign Public Officials Act (Canada) and regulations thereunder, and the UK Bribery Act. Furthermore, the Borrower and, to the knowledge of the Borrower, its Subsidiaries are
in compliance with the FCPA, the Corruption of Foreign Public Officials Act (Canada) and regulations thereunder, and the UK Bribery Act and maintain policies and procedures reasonably designed to ensure, and which are reasonably expected to continue
to ensure, continued compliance therewith. 
 ARTICLE IV 

Conditions 
 SECTION 4.01.
Closing Date. The Lenders’ Commitments shall become effective hereunder on and as of the first date (the “Closing Date”) on which each of the following conditions is satisfied (or waived in accordance with
Section 9.02): 
 (a) the Administrative Agent shall have received a counterpart of this Agreement from the Borrower;

 (b) the Administrative Agent shall have received Term Notes executed by the Borrower in favor of each Lender requesting a
Term Note at least five Business Days prior to the Closing Date; 
 (c) the Administrative Agent shall have received a
counterpart of the Guarantee Agreement from each of the Guarantors as of the Closing Date; 
 (d) the Administrative Agent
shall have received such customary closing documents and certificates as the Administrative Agent or its counsel may reasonably request relating to the organization, existence and good standing in the jurisdiction of organization of each Loan Party
and the authorization of the Loan Documents by the Loan Parties party thereto and containing a certificate of a corporate secretary of each Loan Party with a list of Persons entitled to execute the Loan Documents to which such Loan Party is a party
and provide notices, hereunder, in each case, on behalf of such Loan Party together with specimen signatures of such Persons, each in form and substance reasonably satisfactory to the Administrative Agent and its counsel; 

(e) the Administrative Agent shall have received, at least three business days prior to the Closing Date, (i) all
documentation and other information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including, without limitation, the PATRIOT Act and the Canadian AML Acts
requested in writing by the Administrative Agent or any Lender at least ten business days prior to the Closing Date, and (ii) if the Borrower qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, a
Beneficial Ownership Certification; 
 (f) the Company shall have paid, by wire transfer of immediately available funds, all
reasonable and documented in reasonable detail costs, fees, out-of-pocket expenses, compensation and other amounts required to be paid on or before the Closing Date, in
the case of the costs and out-of-pocket expenses (including the fees, charges and disbursements of counsel to the Administrative Agent), to the extent invoiced at least
three Business Days prior to the Closing Date; and 
 (g) the Administrative Agent shall have received the executed legal
opinion of corporate counsel to the Borrower (in form and substance reasonably satisfactory to the Administrative Agent); 

  
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 (h) the Administrative Agent shall have received a certificate substantially
in the form of Exhibit G signed by a Responsible Officer of the Company with specific knowledge about the subject matter thereof, (i) certifying that the conditions specified in Sections 4.01(j) and (k) have been satisfied and
(ii) setting forth the current Debt Ratings on the Closing Date; 
 (i) the Administrative Agent shall have received a
certificate attesting to the Solvency of the Company and its Subsidiaries (taken as a whole) on the Closing Date after giving effect to the Transactions in the form of Exhibit D, dated as of the Closing Date and
executed by a Financial Officer of the Company; 
 (j) no Default shall exist, or would result from such proposed
Transactions or from the application of the proceeds thereof.; 
 (k) the representations and warranties of the Borrower
contained in this Agreement that are made on the Closing Date shall be true in all material respects on and as of the Closing Date, except to the extent any such representation and warranty (i) expressly relates to an earlier date in which case
such representation and warranty shall be true and correct in all material respects as of such earlier date or (ii) is qualified by materiality, in which case such representation and warranty shall be true and correct in all respects; and 

(l) the Administrative Agent shall have received a Borrowing Request in accordance with Section 2.03 

ARTICLE V 
 Affirmative
Covenants 
 From and after the Closing Date until the Commitments have expired or been terminated and the principal of and interest on
each Loan and all fees payable hereunder shall have been paid in full (other than, for the avoidance of doubt, contingent obligations not then due and payable), the Borrower covenants and agrees with the Lenders that: 

SECTION 5.01. Financial Statements and Other Information. The Company will furnish to the Administrative Agent (who shall promptly
furnish a copy to each Lender): 
 (a) as soon as available, but in any event within one hundred (100) days after the
end of each fiscal year of the Company (or, if earlier, the 10th day after such financial statements are required to be filed with the SEC), commencing with the fiscal year ending February 28, 2021, the audited consolidated balance sheet of the
Company and its Consolidated Subsidiaries and related statements of operations, stockholders’ equity and cash flows as of the end of and for such year, setting forth in each case in comparative form the figures for the previous fiscal
year, all reported on by KPMG LLP or other independent public accountants of recognized national standing (without a “going concern” or like qualification or exception and without any qualification or exception as to the scope of such
audit) to the effect that such consolidated financial statements present fairly in all material respects the financial position and results of operations of the Company and its Consolidated Subsidiaries on a consolidated basis in accordance
with GAAP; 
 (b) as soon as available, but in any event within fifty-five (55) days after the end of each of the first
three fiscal quarters of each fiscal year of the Company (or, if earlier, the 10th day after such financial statements are required to be filed with the SEC), commencing with the fiscal quarter ending May 31, 2022, the unaudited consolidated
balance sheet of the Company and its Consolidated Subsidiaries and related statements of operations and cash flows as of the end of and for such fiscal quarter and the then elapsed portion of the fiscal year, setting forth in each case in
comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all certified by one of its Financial Officers as presenting fairly in all material
respects the financial position and results of operations of the Company and its Consolidated Subsidiaries on a consolidated basis in accordance with GAAP, subject to normal year-end audit adjustments and the
absence of certain footnotes; 

  
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 (c) concurrently with any delivery of financial statements under
clause (a) or (b) above, a certificate substantially in the form of Exhibit F executed by a Financial Officer of the Company (x) certifying as to whether, to the knowledge of such Financial Officer
after reasonable inquiry, a Default has occurred and is continuing and, if so, specifying the details thereof and any action taken or proposed to be taken with respect thereto, and containing the representations set forth in clauses 3 and 4 therein
and as to the other items set forth therein, and (y) containing the representation set forth in clause 5 therein; 
 (d)
promptly after the same become publicly available, copies of all annual, quarterly and current reports and proxy statements filed by the Company or any Subsidiary with the SEC; 

(e) promptly following any request therefor, such other information regarding the operations, business affairs and financial
condition of the Company or any Subsidiary, or compliance with the terms of this Agreement, as the Administrative Agent or any Lender (through the Administrative Agent) may reasonably request; and 

(f) promptly following any request therefor, provide information and documentation reasonably requested by the Administrative
Agent or any Lender for purposes of compliance with applicable “know your customer” and anti-money-laundering rules and regulations, including, without limitation, the PATRIOT Act, the Canadian AML Acts and the Beneficial Ownership
Regulation. 
 Financial statements and other information required to be delivered pursuant to Sections 5.01(a), 5.01(b) and 5.01(d) shall be
deemed to have been delivered if such statements and information shall have been posted by the Company on its website or shall have been posted on IntraLinks or similar site to which all of the Lenders have been granted access or are publicly
available on the SEC’s website pursuant to the EDGAR system. 
 The Borrower hereby acknowledges that the Administrative Agent and/or
the Arranger will make available to the Lenders materials and/or information provided by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on SyndTrak or another
similar electronic system (the “Platform”). 
 SECTION 5.02. Notice of Material Events. The Company will furnish to
the Administrative Agent (for prompt notification to each Lender) prompt written notice after any Financial Officer of the Company obtains knowledge of the following: 

(a) the occurrence of any continuing Default; 

(b) any change in the Debt Ratings; 

(c) the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, would reasonably
be expected to result in a Material Adverse Effect; 
 (d) any action, suit or proceeding against the Company or any of its
Subsidiaries or any of their respective properties (i) with respect to the Controlled Substances Act or, solely as they may relate to an alleged violation of the Controlled Substances Act, the Civil Asset Forfeiture Reform Act or applicable
anti-money laundering laws, or (ii) by a Governmental Authority of any foreign jurisdiction where the sale of marijuana or such other controlled substance is illegal that alleges a violation of applicable narcotics-related laws of such foreign
jurisdiction; and 
 (e) any failure by Canopy to comply with Section 5.1(a)(iii) of the Investor Rights Agreement. 

Each notice delivered under this Section shall be accompanied by a statement of a Financial Officer or other executive officer of the Company setting
forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto. 

  
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 SECTION 5.03. Existence; Conduct of Business. The Company will, and will cause each
of its Subsidiaries (other than Immaterial Subsidiaries) to, do or cause to be done all things necessary to preserve, renew and keep in full force and effect (i) solely with respect to the Company, its legal existence, and (ii) the rights,
licenses, permits, privileges and franchises material to the conduct of its business, except, in the case of the preceding clause (ii), to the extent that the failure to do so could not reasonably be expected to have a Material Adverse Effect;
provided that the foregoing shall not prohibit (x) any transaction permitted under Section 6.03 and (y) any Subsidiary of the Company or any other Person (in each case, other than the Borrower) from merging, amalgamating or
consolidating with or into any one or more Subsidiaries of the Borrower in compliance with Section 6.03. 
 SECTION 5.04. Payment of
Taxes. The Company will, and will cause each of its Subsidiaries (other than Immaterial Subsidiaries) to, pay its Taxes (whether or not shown on a Tax return), before the same shall become delinquent or in default, except where
(a) (i) the validity or amount thereof is being contested in good faith by appropriate proceedings diligently conducted (if such contest effectively suspends collection and enforcement of the Tax in question) and (ii) the
Borrower or Subsidiary has set aside on its books reserves with respect thereto to the extent required by GAAP or (b) the failure to make payment could not reasonably be expected to, individually or in the aggregate, result in a Material
Adverse Effect. 
 SECTION 5.05. Maintenance of Properties; Insurance. The Company will, and will cause each of its Subsidiaries to,
(a) keep and maintain all Property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted and casualty or condemnation excepted, except if the failure to do so could not reasonably be
expected to have a Material Adverse Effect, and (b) maintain, with financially sound and reputable insurance companies or through self-insurance, insurance in such amounts and against such risks as are customarily maintained by companies
engaged in the same or similar businesses operating in the same or similar locations. 
 SECTION 5.06. Inspection Rights. The Company
will, and will cause each of its Subsidiaries (other than Immaterial Subsidiaries) to, permit any representatives designated by the Administrative Agent (at their sole cost and expense except during the occurrence and continuance of an Event of
Default) or, during the continuance of an Event of Default, any Lender, upon reasonable prior notice, to visit and inspect its properties, to examine and make extracts from its books and records, and to discuss its affairs, finances and
condition with its senior officers and use commercially reasonable efforts to make its independent accountants available to discuss the affairs, finances and condition of the Borrower, all at such reasonable times and as often as reasonably
requested and in all cases subject to applicable Law and the terms of applicable confidentiality agreements; provided that (i) the Lenders will conduct such requests for visits and inspections through the Administrative Agent and
(ii) unless an Event of Default has occurred and is continuing, such visits and inspections can occur no more frequently than once per year. The Administrative Agent and the Lenders shall give the Company the opportunity to participate in any
discussions with the Company’s independent accountants. 
 SECTION 5.07. Compliance with Laws. The Company will, and will cause
each of its Subsidiaries to comply in all material respects with all laws, rules, regulations and orders of any Governmental Authority applicable to it or its property, including applicable local narcotics-related laws, except where the failure to
do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. The Company will, and will cause each of its Subsidiaries to, comply with the Controlled Substances Act, the Civil Asset Forfeiture
Reform Act (as it relates to violation of the Controlled Substances Act) and all related applicable anti-money laundering laws, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a
Material Adverse Effect. The Company shall not, and shall cause its Subsidiaries to not, knowingly and intentionally repay any principal of the Loans, pay any interest or fees accruing thereon or pay any other Obligations, in each case, with funds
that it knows, at the time of such payment, that Canopy derived from a violation of the Controlled Substances Act. 
 SECTION 5.08. Use
of Proceeds. The proceeds of the Loans on the Closing Date shall be used to repay in full the U.S. Term A-1 Loans under the Senior Credit Agreement. No part of the proceeds of any Loan will be used,
whether directly or, to the knowledge of the Borrower, indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and X. The Borrower will not, directly or, to the knowledge of the
Borrower, indirectly, use the proceeds of the Loans (a) to fund any activities or business of or with 

  
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 any (i) Sanctioned Country or Territory or (ii) Person that, at the time of such funding, is the
subject of Sanctions unless, with respect to clauses (i) and (ii) above, the proceeds are used for activities or business authorized pursuant to a specific or general license, license exception, other exception or exemption, or other permit or
authorization from the applicable Governmental Authorities (such authorities to include, at all times, OFAC and any other applicable U.S. Governmental Authorities) or (b) in any other manner that would result in a violation of Sanctions by any
Person (including any Person participating in the Loans, whether as underwriter, advisor, investor or otherwise). No part of the proceeds of the Loan will be used, directly or, to the knowledge of the Borrower, indirectly, for any payments that
could constitute a violation of the FCPA or the UK Bribery Act. The proceeds of the Loans shall not be used in contravention of any law. 

ARTICLE VI 
 Negative Covenants

 From and after the Closing Date until the Commitments have expired or terminated and the principal of and interest on each Loan and
all fees payable hereunder have been paid in full (other than, for the avoidance of doubt, contingent obligations), the Borrower covenants and agrees with the Lenders that: 

SECTION 6.01. Indebtedness of Subsidiaries. The Company will not permit any Subsidiary to create, incur, assume or permit to exist any
Indebtedness, except: 
 (a) Indebtedness created under the Loan Documents; 

(b) Indebtedness existing on the Amendment No. 2 Effective Date and, to the extent in excess of $10,000,000 individually
or $25,000,000 in the aggregate, set forth in Schedule 6.01 and Permitted Refinancing Indebtedness in respect of Indebtedness permitted by this clause (b) and Guarantees of any such Permitted Refinancing
Indebtedness; 
 (c) Indebtedness to the Company or any other Subsidiary; 

(d) Guarantees of Indebtedness (i) of any Foreign Subsidiary by any other Subsidiary and (ii) of any other Person by
any Subsidiary; provided that Guarantees shall be permitted to be incurred pursuant to this subclause (ii) only if at the time such Guarantee is incurred the aggregate principal amount of Indebtedness Guaranteed pursuant to this
subclause (ii) at such time (including such newly Guaranteed Indebtedness) would not exceed $75,000,000; 

(e) Indebtedness incurred to finance the acquisition, lease, construction, repair, maintenance, replacement, installation or
improvement of any fixed or capital assets, including Finance Lease Obligations and any Indebtedness assumed in connection with the acquisition of any such assets or secured by a Lien on any such assets prior to the acquisition thereof, and any
Permitted Refinancing Indebtedness in respect of Indebtedness permitted by this clause (e); provided that (i) such Indebtedness (other than Permitted Refinancing Indebtedness permitted above in this clause (e)) is incurred
prior to or within two hundred seventy (270) days after such acquisition or lease or the completion of such construction, repair, maintenance, replacement, installation or improvement and (ii) the aggregate principal amount of Indebtedness
permitted by this clause (e) shall not exceed $500,000,000 at any time outstanding; 
 (f) Indebtedness in respect
of letters of credit (including trade letters of credit), bank guarantees or similar instruments issued or incurred in the ordinary course of business, including in respect of card obligations or any overdraft and related liabilities arising from
treasury, depository and cash management services or any automated clearing house transfers, workers compensation claims, health, disability or other employee benefits or property, casualty or liability insurance or self-insurance or other
Indebtedness with respect to reimbursement-type obligations regarding workers compensation claims; 
 (g) [reserved]; 

  
 42 

 (h) [reserved]; 

(i) Indebtedness under Swap Agreements entered into in the ordinary course of business and not for speculative purposes; 

(j) Indebtedness in respect of bid, performance, surety, stay, customs, appeal or replevin bonds or performance and completion
guarantees and similar obligations issued or incurred in the ordinary course of business, including guarantees or obligations of any Subsidiary with respect to letters of credit, bank guarantees or similar instruments supporting such obligation, in
each case, not in connection with Indebtedness for money borrowed; 
 (k) Indebtedness consisting of bona fide purchase price
adjustments, earn-outs, indemnification obligations, obligations under deferred compensation or similar arrangements and similar items incurred in connection with acquisitions and asset sales not prohibited by Section 6.10; 

(l) [reserved]; 

(m) Indebtedness in respect of card obligations, netting services, overdraft protections, cash management services and similar
arrangements in each case in connection with deposit accounts; 
 (n) Indebtedness consisting of (x) the financing of
insurance premiums with the providers of such insurance or their affiliates or (y) take-or-pay obligations contained in supply arrangements, in each case, in the
ordinary course of business; 
 (o) Indebtedness supported by a letter of credit under the Senior Credit Agreement, in a
principal amount not to exceed the face amount of such letter of credit; 
 (p) [reserved]; 

(q) other Indebtedness; provided that Indebtedness shall be permitted to be incurred pursuant to this
clause (q) only if at the time such Indebtedness is incurred the aggregate principal amount of Indebtedness outstanding pursuant to this clause (q) at such time (including such Indebtedness) would not exceed an aggregate
amount of up to 10% of Consolidated Tangible Assets; 
 (r) [reserved]; 

(s) Indebtedness in respect of judgments, decrees, attachments or awards not constituting an Event of Default under
clause (k) of Article VII; 
 (t) Indebtedness of a Person assumed in connection with an acquisition of such
Person by the Company or a Subsidiary and not created in contemplation thereof and any Permitted Refinancing Indebtedness in respect of such Indebtedness in an aggregate principal amount not to exceed $250,000,000 at any time outstanding
pursuant to this clause (t); 
 (u) Indebtedness in the form of reimbursements owed to officers, directors,
consultants and employees; 
 (v) Indebtedness incurred under industrial revenue bonds or other qualified tax exempt bond
financings and Permitted Refinancing Indebtedness in respect thereof in an aggregate principal amount not to exceed $25,000,000 at any time outstanding pursuant to this clause (v); 

(w) Indebtedness under the Senior Credit Agreement in an amount not to exceed $2,250,000,000; 

  
 43 

 (x) endorsements for collection, deposit or negotiation and warranties of
products or services, in each case incurred in the ordinary course of business; and 
 (y) Indebtedness of Canopy in
existence as of the Amendment No. 2 Effective Date and any other Indebtedness assumed in connection with the acquisition of such Person or on the date that such Person becomes a Subsidiary and not created in contemplation of the Canopy
Investment or of such Person becoming a Subsidiary of the Company and any Permitted Refinancing Indebtedness in respect of such Indebtedness. 

Each category of Indebtedness (other than Indebtedness under the Loan Documents which shall at all times be deemed to be outstanding pursuant
to clause (a)) set forth above shall be deemed to be cumulative and for purposes of determining compliance with this Section 6.01, in the event that an item of Indebtedness (or any portion thereof) at any time meets the criteria
of more than one of the categories described above, the Company, in its sole discretion, may classify or reclassify (or later divide, classify or reclassify) such item of Indebtedness (or any portion thereof) and shall only be required to
include the amount and type of such Indebtedness in one of the above clauses. 
 SECTION 6.02. Liens. The Company will not, and will
not permit any Subsidiary to, create, incur, assume or permit to exist any Lien on any Property now owned or hereafter acquired by it, except: 

(a) Permitted Encumbrances; 

(b) [reserved]; 

(c) any Lien on any Property of the Company or any Subsidiary existing on the Closing Date and, to the extent securing
obligations in an individual amount in excess of $10,000,000 or an aggregate amount in excess of $25,000,000, set forth in Schedule 6.02 and any modifications, replacements, renewals or extensions thereof; provided
that (i) such Lien shall not apply to any other Property of the Borrower or any Subsidiary other than (A) improvements and after-acquired Property that is affixed or incorporated into the Property covered by such Lien or financed by
Indebtedness permitted under Section 6.01, and (B) proceeds and products thereof, and (ii) such Lien shall secure only those obligations which it secures on the Closing Date and any Permitted Refinancing Indebtedness in respect
thereof; 
 (d) any Lien existing on any Property prior to the acquisition thereof by the Company or any Subsidiary or
existing on any Property of any Person that becomes a Subsidiary after the Closing Date prior to the time such Person becomes a Subsidiary; provided that (i) such Lien is not created in contemplation of or in connection with such
acquisition or such Person becoming a Subsidiary, as the case may be, (ii) such Lien shall not apply to any other Property of the Company or any other Subsidiary (other than the proceeds or products thereof and other than improvements and
after-acquired property that is affixed or incorporated into the Property covered by such Lien) and (iii) such Lien shall secure only those obligations which it secures on the date of such acquisition or the date such Person becomes a
Subsidiary, as the case may be and Permitted Refinancing Indebtedness in respect thereof; 
 (e) Liens on fixed or capital
assets acquired, leased, constructed, repaired, maintained, replaced, installed or improved by the Company or any Subsidiary; provided that (i) such security interests secure Indebtedness of a type described in clause (e) of
Section 6.01, (ii) such security interests and the Indebtedness secured thereby (other than Permitted Refinancing Indebtedness) are incurred prior to or within two hundred seventy (270) days after such acquisition or lease or the
completion of such construction, repair, maintenance or replacement or installation or improvement, (iii) the Indebtedness secured thereby does not exceed the cost of acquiring, leasing, constructing, repairing, maintaining, replacing,
installing or improving such fixed or capital assets and (iv) such security interests shall not apply to any other Property of the Company or any Subsidiary except for accessions to such Property, Property financed by such Indebtedness and the
proceeds and products thereof; provided, further, that individual financings of equipment provided by one lender may be cross-collateralized to other financings of equipment provided by such lender; 

  
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 (f) rights of setoff and similar arrangements and Liens in respect of cash
management services and in favor of depository and securities intermediaries to secure obligations owed in respect of card obligations or any overdraft and related liabilities arising from treasury, depository and cash management services or any
automated clearing house transfers of funds and fees and similar amounts related to bank accounts or securities accounts (including Liens securing letters of credit, bank guarantees or similar instruments supporting any of the foregoing); 

(g) [reserved]; 

(h) Liens on assets of a Foreign Subsidiary (other than the Borrower) securing Indebtedness of such Subsidiary pursuant to
Section 6.01; 
 (i) [reserved]; 

(j) leases, licenses, subleases or sublicenses granted to others in the ordinary course of business which do not
(i) interfere in any material respect with the business of the Borrower or any Subsidiary or (ii) secure any Indebtedness; 

(k) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in
connection with the importation of goods in the ordinary course of business; 
 (l) Liens (i) of a collection bank on
items in the course of collection and (ii) attaching to commodity trading accounts or other commodities brokerage accounts incurred in the ordinary course of business, including Liens encumbering reasonable customary initial deposits and margin
deposits; 
 (m) Liens arising out of conditional sale, title retention, consignment or similar arrangements for sale of
goods entered into by the Company or any Subsidiary in the ordinary course of business permitted by this Agreement; 
 (n)
[reserved]; 
 (o) rights of setoff relating to purchase orders and other agreements entered into with customers of the
Company or any Subsidiary in the ordinary course of business; 
 (p) ground leases in respect of real property on which
facilities owned or leased by the Borrower or any of its Subsidiaries are located and other Liens affecting the interest of any landlord (and any underlying landlord) of any real property leased by the Company or any Subsidiary; 

(q) Liens on equipment owned by the Company or any Subsidiary and located on the premises of any supplier and used in the
ordinary course of business and not securing Indebtedness; 
 (r) any restriction or encumbrance with respect to the pledge
or transfer of the Equity Interests of a joint venture; 
 (s) Liens not otherwise permitted by this Section 6.02,
provided that a Lien shall be permitted to be incurred pursuant to this clause (s) only if at the time such Lien is incurred the aggregate principal amount of the obligations secured at such time (including such Lien) by Liens
outstanding pursuant to this clause (s) would not exceed an aggregate amount of up to 7.5% of Consolidated Tangible Assets; 

(t) Liens on any Property of the Company or any Subsidiary in favor of the Company or any Subsidiary; 

(u) Liens on specific items of inventory or other goods and proceeds of any Person securing such Person’s obligations in
respect of bankers’ acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; 

  
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 (v) Liens arising from Uniform Commercial Code financing statement
filings regarding operating leases, finance leases or consignments entered into by the Company and its Subsidiaries in the ordinary course of business; 

(w) Liens, pledges or deposits made in the ordinary course of business to secure liability to insurance carriers; 

(x) Liens securing insurance premiums financing arrangements; provided that such Liens secure only the applicable unpaid
insurance premiums and attach only to the proceeds of the applicable insurance policy; 
 (y) any purchase option or similar
right on securities held by the Company or any of its Subsidiaries in any joint venture which option or similar right is granted to a third-party who holds securities in such joint venture; and 

(z) Liens securing obligations owing under and in connection with industrial revenue bonds and other qualified tax exempt
financings permitted by Section 6.01(v) and extending only to the properties subject to such financings. 
 SECTION 6.03.
Fundamental Changes. 
 (a) The Company will not merge into or consolidate with any other Person, or permit any other Person to merge
into or consolidate with it or transfer all or substantially all the assets of the Company and the Subsidiaries (whether now owned or hereafter acquired) taken as a whole (in each case, whether in one transaction or in a series of transactions,
and whether directly or through the merger or sale of one or more Subsidiaries), or liquidate or dissolve (including, in each case, pursuant to a Division), except that, if at the time thereof and immediately after giving effect thereto no Event of
Default shall have occurred and be continuing, any Person may merge into or amalgamate with the Company in a transaction in which the Company is the surviving corporation. 

(b) The Company will not, and will not permit any of its Subsidiaries to, change the nature of their businesses (taken as a whole) from
the businesses (taken as a whole) conducted by the Company and the Subsidiaries on the Closing Date and any business that is incidental, related, ancillary or complementary thereto, synergistic therewith or a reasonable extension, development
or expansion thereof. 
 SECTION 6.04. [Reserved]. 

SECTION 6.05. [Reserved]. 

SECTION 6.06. [Reserved]. 

SECTION 6.07. Transactions with Affiliates. The Company will not, and will not permit any of its Subsidiaries to, sell, lease or
otherwise transfer any Property to, or purchase, lease or otherwise acquire any Property from, or otherwise engage in any other transactions with, any of its Affiliates, except: 

(a) transactions at prices and on terms and conditions, taken as a whole, substantially as favorable to the Borrower or such
Subsidiary (in the good faith determination of the Borrower) as could reasonably be obtained on an arm’s-length basis from unrelated third parties; 

(b) transactions between or among the Company and its Subsidiaries and any entity that becomes a Subsidiary as a result of such
transaction so long as such transaction does not involve any other Affiliate; 
 (c) the payment of customary compensation
and benefits and reimbursements of out-of-pocket costs to, and the provision of indemnity on behalf of, directors, officers, consultants and employees 

  
 46 

 
of the Borrower or any Subsidiary and employment, incentive, benefit, consulting and severance arrangements entered into in the ordinary course of business with officers, directors, consultants
and employees of the Company or its Subsidiaries; provided that during any period that the Company is a public company regulated by, and required to file regular periodic reports with, the SEC, any compensation paid to any director or
executive officer of the Company or any Subsidiary which has been specifically approved by the Board of Directors of the Company (or by the Human Resources Committee of the Board of Directors of the Company or other committee responsible for such
approval) during such period will be deemed to satisfy this clause (c); 
 (d) [reserved]; 

(e) the issuance of Qualified Equity Interests of the Company and the granting of registration or other customary rights in
connection therewith or the payment of dividends or distributions with respect to any equity Interests of the Company; 
 (f)
transactions with joint ventures that are Affiliates solely as a result of the Company’s or a Subsidiary’s Control over such joint venture; 

(g) transactions with landlords, customers, clients, suppliers, joint venture partners or purchasers or sellers of goods and
services, in each case in the ordinary course of business; 
 (h) split-dollar life insurance agreements with Affiliates, so
long as the aggregate amount of premiums payable by the Company during any fiscal year pursuant to such agreements shall not exceed $2,000,000 in the aggregate; 

(i) loans and advances to officers, directors, consultants and employees in the ordinary course of business; 

(j) transactions effected as part of receivables financing facilities (and any guarantee of such financing facility), as
amended, supplemented, modified, extended, renewed, restated, or refunded from time to time, the obligations of which are non-recourse (except for customary representations, warranties, covenants, guarantees,
purchase obligations and indemnities made in connection with such facilities) to the Company and the Subsidiaries (other than any Subsidiary which acts as a special purpose entity for such financing facility) pursuant to which the Company or any
Subsidiary sells, directly or indirectly, grants a security interest in or otherwise transfers its receivables and other assets customarily transferred in connection with such financings to either (i) a Person that is not a Subsidiary or
(ii) a Subsidiary which is a special purpose entity or other Subsidiary of the Company that in turn then transfers to a special purpose entity; and 

(k) transfers of immaterial assets from the Company and its Subsidiaries to Affiliates thereof. 

SECTION 6.08. [Reserved]. 

SECTION 6.09. Financial Covenants. 

(a) The Company will not permit the Consolidated Interest Coverage Ratio for any Test Period ending after the Closing Date to be less than
2.50 to 1.00. 
 (b) The Company will not permit the Consolidated Net Leverage Ratio as of the last day of any Test Period to be greater
than 4.00 to 1.00; provided that for any fiscal quarter ending after the consummation of any Material Acquisition and prior to the end of the fourth fiscal quarter end following such Material Acquisition, such maximum Consolidated Net
Leverage Ratio shall be increased to 4.50 to 1.00. 
 SECTION 6.10. Sale and Leaseback Transactions. The Company will not, and will
not permit any Subsidiary to enter into any Sale and Leaseback Transaction unless the Company or such Subsidiary could incur a Lien 

  
 47 

 
in compliance with Section 6.02 in the amount of the Attributable Indebtedness in respect thereof (and, for so long as such Attributable Indebtedness remains outstanding, it shall be deemed
to be Indebtedness secured by a Lien on the Property of the Company or a Subsidiary). 
 ARTICLE VII 

Events of Default 
 If any
of the following events (each an “Event of Default”) shall occur and be continuing: 
 (a) the Borrower
shall fail to pay any principal of any Loan when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise; 

(b) the Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to in
clause (a) of this Article) payable under this Agreement, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of five (5) Business Days; 

(c) any representation or warranty made or deemed made by or on behalf of the Company or any Subsidiary in connection with this
Agreement or any other Loan Document or any amendment or modification thereof or waiver thereunder, or in any report, certificate, financial statement or other document required to be delivered in connection with this Agreement or any other Loan
Document or any amendment or modification thereof or waiver thereunder, shall prove to have been incorrect in any material respect when made or deemed made; 

(d) the Borrower shall fail to observe or perform any covenant, condition or agreement contained in Section 5.02(a),
5.03(i) or Article VI; 
 (e) the Borrower shall fail to observe or perform any covenant, condition or
agreement contained in this Agreement (other than those specified in clause (a), (b) or (d) of this Article) or any other Loan Document, and such failure shall continue unremedied for a period of thirty (30) days after
written notice thereof from the Administrative Agent or the Required Lenders to the Borrower; 
 (f) the Company or any
Subsidiary (other than an Immaterial Subsidiary) shall fail to make any payment (whether of principal or interest and regardless of amount) in respect of any Material Indebtedness, when and as the same shall become due and payable, or if a
grace period shall be applicable to such payment under the agreement or instrument under which such Indebtedness was created, beyond such applicable grace period; 

(g) the Company or any Subsidiary (other than an Immaterial Subsidiary) shall default in the performance of any obligation
in respect of any Material Indebtedness or any “change of control” (or equivalent term) shall occur with respect to any Material Indebtedness, in each case, that results in such Material Indebtedness becoming due prior to its
scheduled maturity or that enables or permits (with or without the giving of notice, the lapse of time or both, but after giving effect to any applicable grace period) the holder or holders of such Material Indebtedness or any trustee or agent
on its or their behalf to cause such Material Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity (other than solely in Qualified Equity Interests); provided
that this clause (g) shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness or as a result of a casualty event affecting such property or
assets; 
 (h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking
(i) liquidation, reorganization or other relief in respect of the Borrower or any Subsidiary (other than an Immaterial Subsidiary) or its debts, or of a substantial part of its assets, under any Federal, state or

  
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foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar
official for the Borrower or any Subsidiary (other than an Immaterial Subsidiary) or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue undismissed or unstayed for sixty (60) days or an
order or decree approving or ordering any of the foregoing shall be entered; 
 (i) the Borrower or any Subsidiary (other
than an Immaterial Subsidiary) shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law
now or hereafter in effect, (ii) consent to the institution of any proceeding or petition described in clause (h) above, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator
or similar official for the Borrower or any Subsidiary (other than an Immaterial Subsidiary) or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such
proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any corporate action for the purpose of effecting any of the foregoing; 

(j) the Borrower or any Subsidiary (other than an Immaterial Subsidiary) shall become generally unable, admit in writing
its inability generally or fail generally to pay its debts as they become due; 
 (k) one or more final, non-appealable judgments for the payment of money in an aggregate amount in excess of $200,000,000 (to the extent due and payable and not covered by insurance as to which the relevant insurance company has not
denied coverage) shall be rendered against the Company, any Subsidiary (other than an Immaterial Subsidiary) or any combination thereof and the same shall remain unpaid or undischarged for a period of thirty (30) consecutive days
during which execution shall not be paid, bonded or effectively stayed; 
 (l) an ERISA Event shall have occurred that, when
taken together with all other ERISA Events that have occurred, would reasonably be expected to result in a Material Adverse Effect; 

(m) a Change in Control shall occur; 

(n) [reserved]; or 

(o) any property of the Borrower, or any part thereof, has been seized by a Governmental Authority pursuant to the Civil Asset
Forfeiture Reform Act or other applicable Law on the grounds that the property or any part thereof had been used to commit or facilitate the commission of a criminal offense by the Borrower or its Affiliates under the Controlled Substances Act,
as determined by a court of competent jurisdiction by final and nonappealable judgment. 
 then, and in every such event (other than an event with respect
to the Borrower described in clause (h) or (i) of this Article), and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the
Borrower declare the Loans then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so
declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder and under the other Loan Documents, shall become due and payable immediately, without presentment, demand,
protest or other notice of any kind, all of which are hereby waived by the Borrower; and in case of any event with respect to the Borrower described in clause (h) or (i) of this Article, the principal of the Loans then outstanding,
together with accrued interest thereon and all fees and other Obligations accrued hereunder and under the other Loan Documents, shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of
which are hereby waived by the Borrower. 

  
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 ARTICLE VIII 

The Administrative Agent 

(a) Each of the Lenders hereby irrevocably appoints Bank of America as its agent and authorizes Bank of America to take such actions on its
behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof and the other Loan Documents, together with such actions and powers as are reasonably incidental thereto. The provisions of this Article are
solely for the benefit of the Administrative Agent and the Lenders, and the Borrower shall have no rights as a third party beneficiary of any of such provisions, except as expressly set forth in subparagraph (f) below. 

(b) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other
Lender and may exercise the same as though it were not the Administrative Agent, and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving
as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business
with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders. 

(c) The Administrative Agent shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents.
Without limiting the generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing; (b) the Administrative Agent
shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise
in writing as directed by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or by the other Loan Documents), provided that the Administrative Agent shall not be required to take
any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable Law; and (c) except as expressly set forth herein and in the other Loan
Documents, the Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Subsidiaries that is communicated to or obtained by the Person
serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or
percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided herein) or in the absence of its own bad faith, gross negligence or willful
misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until written notice describing such Default thereof is given to the Administrative Agent by the Company or a Lender, and the Administrative Agent
shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report
or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of
any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement or any other Loan Document or any other agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article IV
or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. 
 (d) The
Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or
intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by
telephone and believed by it to be made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan that by its terms must be fulfilled to the
satisfaction of a Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent shall have received notice to the contrary from such Lender prior to the making of such Loan. The
Administrative Agent may consult with legal counsel 

  
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(who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of
any such counsel, accountants or experts. 
 (e) The Administrative Agent may perform any and all of its duties and exercise its rights
and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such
sub-agent may perform any and all of its duties and exercise its rights and powers through their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of
the credit facilities provided for herein as well as activities as Administrative Agent. 
 (f) The Administrative Agent may at any time
give notice of its resignation to the Lenders and the Company. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, in consultation with the Borrower and (unless an Event of Default under clause (a) or
(b), (h) or (i) of Article VII shall have occurred and be continuing) with the consent of the Company (which consent of the Company shall not be unreasonably withheld or delayed), to appoint a successor, which shall be a bank
with an office in the United States, or an Affiliate of any such bank with an office in the United States. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within thirty
(30) days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may on behalf of the Lenders, appoint a successor Administrative Agent meeting the qualifications set forth above;
provided that if the Administrative Agent shall notify the Company and the Lenders that no qualifying Person has accepted such appointment, then such resignation shall nonetheless become effective in accordance with such notice and
(1) the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents and (2) all payments, communications and determinations provided to be made by, to or through the
Administrative Agent shall instead be made by or to each Lender directly, until such time as the Required Lenders appoint a successor Administrative Agent as provided for above in this Section. Upon the acceptance of a successor’s appointment
as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be
discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by the Company to a successor Administrative Agent shall be the
same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the provisions of this
Article and Section 9.03 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted
to be taken by any of them while the retiring Administrative Agent was acting as Administrative Agent. 
 (g) Each Lender acknowledges that
it has, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter
into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall from time
to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder. 

(h) To the extent required by any applicable Laws, the Administrative Agent may withhold from any payment to any Lender an amount equivalent
to any applicable withholding Tax. Without limiting or expanding the provisions of Section 2.16, each Lender shall severally indemnify and hold harmless the Administrative Agent against, and shall make payable in respect thereof within 30 days
after demand therefor, any and all Taxes and any and all related losses, claims, liabilities and expenses (including fees, charges and disbursements of any counsel for the Administrative Agent) incurred by or asserted against the Administrative
Agent by the Internal Revenue Service or any other Governmental Authority as a result of the failure of the Administrative Agent to properly withhold Tax from amounts paid to or for the account of such Lender for any reason (including, without
limitation, because the appropriate form was not delivered or not properly executed, or because such Lender failed to notify the Administrative Agent of a change in circumstance that rendered the exemption from, or reduction of withholding Tax
ineffective). A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative 

  
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Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under this
Agreement or any other Loan Document against any amount due the Administrative Agent under this clause (h). The agreements in this clause (h) shall survive the resignation and/or replacement of the Administrative Agent, any assignment
of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations. 

(i) Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from
the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, and the Arranger and their respective Affiliates and not, for the avoidance of doubt, to or
for the benefit of the Borrower, that at least one of the following is and will be true: 
 (i) such Lender is not using
“plan assets” (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit Plans in connection with the Loans or the Commitments, 

(ii) the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a
class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts),
PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions
involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with
respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement, 

(iii) (A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the
meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans,
the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement satisfies the requirements of
sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of
Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement, or 

(iv) such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole
discretion, and such Lender. 
 (j) In addition, unless either (1) sub-clause (i) in
the immediately preceding clause (i) is true with respect to a Lender or (2) a Lender has provided another representation, warranty and covenant in accordance with sub-clause (iv) in
the immediately preceding clause (i), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date
such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, the Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower, that none of the Administrative
Agent, the Arranger nor any of their respective Affiliates is a fiduciary with respect to the assets of such Lender involved in the Loans, the Commitments and this Agreement (including in connection with the reservation or exercise of any rights by
the Administrative Agent under this Agreement, any Loan Document or any documents related hereto or thereto). 
 Anything herein to the
contrary notwithstanding, none of the “arrangers” listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the
Administrative Agent or a Lender hereunder. Any right given to any Arranger hereunder may be exercised or not exercised in such Arranger’s sole discretion and is for the benefit of such Arranger and not any other Person. 

(k) Without limitation of any other provision in this Agreement, if at any time the Administrative Agent makes a payment hereunder in error to
any Lender Recipient Party, whether or not in respect of an Obligation 

  
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due and owing by the Company at such time, where such payment is a Rescindable Amount, then in any such event, each Lender Recipient Party receiving a Rescindable Amount severally agrees to repay
to the Administrative Agent forthwith on demand the Rescindable Amount received by such Lender Recipient Party in immediately available funds in the currency so received, with interest thereon, for each day from and including the date such
Rescindable Amount is received by it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation. Each Lender Recipient Party irrevocably waives any and all defenses, including any “discharge for value” (under which a creditor might otherwise claim a right to retain funds mistakenly paid by a third party in respect of a
debt owed by another) or similar defense to its obligation to return any Rescindable Amount. The Administrative Agent shall inform each Lender Recipient Party promptly upon determining that any payment made to such Lender Recipient Party comprised,
in whole or in part, a Rescindable Amount. 
 ARTICLE IX 

Miscellaneous 
 SECTION
9.01. Notices. 
 (a) Notices Generally. Except in the case of notices and other communications expressly permitted to be
given by telephone (and except as provided in subsection (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or
registered mail or sent by telecopier as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 

(i) if to the Borrower or the Administrative Agent, to the address, telecopier number, electronic mail address or telephone
number specified for such Person on Schedule 9.01; and 
 (ii) if to any other Lender, to the
address, telecopier number, electronic mail address or telephone number specified in its Administrative Questionnaire. 
 Notices and other communications
sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices and other communications sent by telecopier shall be deemed to have been given when sent (except that, if
not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next business day for the recipient). Notices and other communications delivered through electronic communications to the
extent provided in subsection (b) below, shall be effective as provided in such subsection (b). 
 (b) Electronic
Communications. Notices and other communications to the Lenders hereunder may be delivered or furnished by electronic communication (including e-mail, FpML messaging and Internet or intranet
websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to notices to any Lender pursuant to Article II if such Lender, has notified the Administrative Agent that it is
incapable of receiving notices under such Article by electronic communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications
pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications. 

Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent to an
e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), provided that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to
have been sent at the opening of business on the next business day for the recipient, and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its
e-mail address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address therefor. 

  
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 (c) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS
AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE INFORMATION. NO
WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE
DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent, the Arranger or any of its Related Parties (collectively, the “Agent Parties”) have any
liability to the Borrower, any Lender or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of the Borrower’s, the Administrative Agent’s or the
Arranger’s transmission of Borrower Materials or notices through the Platform, any other electronic messaging services, or through the Internet, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a
court of competent jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Agent Party; provided, however, that in no event shall any Agent Party have any liability to
the Borrower, any Lender or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages). 

(d) Change of Address, Etc. Each of the Borrower and the Administrative Agent may change its address, telecopier or telephone number
for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change its address, telecopier or telephone number for notices and other communications hereunder by notice to the Borrower and the
Administrative Agent. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an effective address, contact name, telephone number, telecopier number and
electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such Lender. 

(e) Reliance by Administrative Agent and Lenders. The Administrative Agent and the Lenders shall be entitled to rely and act upon any
notices (including telephonic Borrowing Requests) purportedly given by or on behalf of the Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other
form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrower shall indemnify the Administrative Agent each Lender and the Related Parties of each of them
from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Borrower unless due to such Person’s gross negligence or willful misconduct as determined by a
court of competent jurisdiction in a final non-appealable judgment. All telephonic notices to and other telephonic communications with the Administrative Agent may be recorded by the Administrative Agent, and
each of the parties hereto hereby consents to such recording. 
 SECTION 9.02. Waivers; Amendments. 

(a) No failure or delay by the Administrative Agent or any Lender in exercising any right or power hereunder or under any other Loan Document
shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of
any other right or power. The rights and remedies of the Administrative Agent and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of
any provision of this Agreement or consent to any departure by the Borrower therefrom shall in any event be effective unless the same shall be permitted by clause (b) of this Section, and then such waiver or consent shall be effective only
in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent or any Lender may
have had notice or knowledge of such Default at the time. 
 (b) Except as otherwise set forth in this Agreement or any other Loan Document
(with respect to such Loan Document) (including Section 2.19), neither this Agreement nor any other Loan Document nor any provision hereof or thereof may be waived, amended or modified except pursuant to an agreement or agreements in writing
entered into by the Borrower and the Required Lenders and acknowledged by the Administrative Agent or by the Borrower and the Administrative Agent with the consent of the Required Lenders; provided, that no such agreement

  
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shall (i) increase the Commitment of any Lender without the written consent of each Lender directly and adversely affected thereby, it being understood that the waiver of any Default shall
not constitute an increase of any Commitment of any Lender, (ii) reduce the principal amount of any Loan or reduce the rate of interest or premium thereon, or reduce any fees payable hereunder, without the written consent of each Lender
directly and adversely affected thereby; provided that only the consent of the Required Lenders shall be necessary to amend Section 2.12(c) or to waive any obligation of the Borrower to pay interest at the rate set forth therein,
(iii) postpone the scheduled date of payment of the principal amount of any Loan, or any interest thereon, or any fees payable hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of
any Commitment, without the written consent of each Lender directly and adversely affected thereby, it being understood that the waiver of (or amendment to the terms of) any mandatory prepayment of the Loans shall not constitute a postponement of
any date scheduled for the payment of principal or interest, (iv) change Section 2.17(b), (c) or (d) in a manner that would alter the pro rata sharing of payments required thereby, without the written consent of each Lender directly
and adversely affected thereby, (v) change any of the provisions of this Section, the definition of “Required Lenders” or any other provision hereof specifying the number or percentage of Lenders required to waive, amend or modify any
rights hereunder or make any determination or grant any consent hereunder without the written consent of each Lender, (vi) [reserved], or (vii) waive any condition precedent set forth in Article 4 without the written consent of each Lender;
provided that (1) no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent without the prior written consent of the Administrative Agent, (2) no such agreement shall amend, modify or
otherwise affect the rights or duties of the Arranger hereunder or without the prior written consent of the Arranger and (3) the Administrative Agent and the Company may, with the consent of the other but without the consent of any other
Person, amend, modify or supplement this Agreement and any other Loan Document to cure any ambiguity, typographical or technical error, defect or inconsistency and such amendment shall become effective without any further action or the consent of
any other party to any Loan Document if the same is not objected to in writing by the Required Lenders within five (5) Business Days following receipt of notice thereof. 

Notwithstanding the foregoing, this Agreement and the other Loan Documents may be amended (or amended and restated) with the written
consent of the Required Lenders, the Administrative Agent and the Borrower (i) to add one or more additional credit facilities to this Agreement and to permit the extensions of credit from time to time outstanding thereunder and the accrued
interest and fees in respect thereof to share ratably in the benefits of this Agreement and the other Loan Documents with the Loans and the accrued interest and fees in respect thereof and (ii) to include appropriately the Lenders holding such
credit facilities in any determination of the Required Lenders. 
 In addition, notwithstanding the foregoing, this Agreement and the other
Loan Documents may be amended with the written consent of the Administrative Agent, the Borrower and the Lenders providing the Replacement Term Loans (as defined below) to permit the refinancing of all outstanding Loans of any Class
(“Refinanced Term Loans”) with a replacement term loan tranche (“Replacement Term Loans”) hereunder; provided that (a) the aggregate principal amount of such Replacement Term Loans shall not exceed
the aggregate principal amount of such Refinanced Term Loans, (b) the Applicable Rate for such Replacement Term Loans shall not be higher than the Applicable Rate for such Refinanced Term Loans, (c) the Weighted Average Life to Maturity of
such Replacement Term Loans shall not be shorter than the Weighted Average Life to Maturity of such Refinanced Term Loans at the time of such refinancing (except to the extent of nominal amortization for periods where amortization has been
eliminated as a result of prepayment of the Loans) and (d) all other terms applicable to such Replacement Term Loans shall be substantially identical to, or less favorable to the Lenders providing such Replacement Term Loans than, those
applicable to such Refinanced Term Loans (as determined by the Borrower in good faith), except to the extent necessary to provide for covenants and other terms applicable to any period after the latest final maturity of the Loans in effect
immediately prior to such refinancing. 
 SECTION 9.03. Expenses; Indemnity; Damage Waiver. 

(a) The Borrower shall pay (i) all reasonable and documented
out-of-pocket expenses incurred by the Administrative Agent, the Arranger and their Affiliates, including the reasonable and documented fees, charges and disbursements
of a single counsel for the Arranger and the Administrative Agent (and, if necessary, one local counsel in each applicable jurisdiction and regulatory counsel), in connection with the syndication of the credit facilities provided for herein, the
preparation and administration of this Agreement and the other Loan Documents or any 

  
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amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated) and (ii) all reasonable
and documented out-of-pocket expenses incurred by the Administrative Agent or any Lender (limited to the reasonable and documented fees, charges and disbursements of a
single counsel for the Administrative Agent and the Lenders, which counsel shall be selected by the Administrative Agent (and, if necessary, one local counsel in each applicable jurisdiction, regulatory counsel and one additional counsel for the
affected parties in the event of a conflict of interest)), in connection with the enforcement or protection of its rights in connection with this Agreement or the other Loan Documents, including its rights under this Section, or in connection with
the Loans made hereunder, including all such reasonable and documented out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of
such Loans. 
 (b) The Company shall indemnify the Administrative Agent, the Arranger and each Lender, and each Related Party of any of the
foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable and documented
out-of-pocket expenses, including the reasonable and documented fees, charges and disbursements of a single counsel for the Indemnitees selected by the Administrative
Agent (and, if necessary, one local counsel in each applicable jurisdiction and one additional counsel for each affected Indemnitee in the event of a conflict of interest), incurred by or asserted against any Indemnitee arising out of, in connection
with, or as a result of (i) the execution or delivery of this Agreement or any agreement or instrument contemplated hereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the
Transactions or any other transactions contemplated hereby, (ii) any Loan or the use of the proceeds therefrom, (iii) to the extent relating to or arising from any of the foregoing, any actual or alleged presence or Release of Hazardous
Materials on or from any property owned or operated by the Company or any of its Subsidiaries, or any Environmental Liability related to the Company or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation
or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory and regardless of whether any Indemnitee is a party thereto and whether brought by the Borrower, its equityholders or any third party; provided that
such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted
from (i) the bad faith, gross negligence or willful misconduct of such Indemnitee or any of its officers, directors, employees or controlling persons (ii) a material breach of the obligations of such Indemnitee under the terms of this
Agreement by such Indemnitee, (iii) in the case of any claim, litigation, investigation or other proceeding brought by the Company or Subsidiary or one of its permitted assignees against the relevant Indemnitee, a breach of the obligations of
such Indemnitee or (iv) any proceeding between and among Indemnitees that does not involve an act or omission by the Company or a Subsidiary (other than any proceeding brought by an Indemnitee against the Administrative Agent or any Arranger in
its capacity in fulfilling its role as an agent or arranger or any other similar role hereunder). 
 (c) To the extent that the Borrower
fails to pay any amount required to be paid by them to the Administrative Agent under clause (a) or (b) of this Section, each Lender severally agrees to pay to the Administrative Agent such Lender’s pro rata share (determined as
of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was
incurred by or asserted against the Administrative Agent in its capacity as such. 
 (d) To the extent permitted by applicable Law, no party
hereto shall assert, and each party hereto hereby waives, any claim against any other party hereto and any Indemnitee on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual
damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the Transactions, any Loan or the use of the proceeds thereof;
provided, that this clause (d) shall in no way limit the Borrower’s indemnification obligations set forth in clauses (a) and (b) of this Section 9.03. 

(e) All amounts due under this Section shall be payable not later than 60 days after written demand therefor; provided,
however, that an Indemnitee shall promptly refund any amount received under this Section 9.03 to the extent that there is a final judicial or arbitral determination that such Indemnitee was not entitled to indemnification rights with
respect to such payment pursuant to the express terms of this Section 9.03. 

  
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 SECTION 9.04. Successors and Assigns. 

(a) Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each
Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of subsection (b) of this Section, (ii) by way of participation in
accordance with the provisions of subsection (d) of this Section or (iii) by way of pledge or assignment of a security interest subject to the restrictions of subsection (f) of this Section (and any other attempted
assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted
hereby, Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Arranger and the Related Parties of each of the Administrative Agent and the Lenders) any legal
or equitable right, remedy or claim under or by reason of this Agreement. 
 (b) Assignments by Lenders. Any Lender may at any time
assign to one or more assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it); provided that any such assignment shall be subject to
the following conditions: 
 (i) Minimum Amounts. 

(A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitments of any
Class and the Loans at the time owing to it of such Class or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and 

(B) in any case not described in subsection (b)(i)(A) of this Section, the aggregate amount of the Commitment (which
for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each such assignment, determined as of the date the
Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $1,000,000, in the case of
any assignment unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed); provided,
however, that concurrent assignments to members of an Assignee Group and concurrent assignments from members of an Assignee Group to a single Eligible Assignee (or to an Eligible Assignee and members of its Assignee Group) will be treated
as a single assignment for purposes of determining whether such minimum amount has been met. 
 (ii) Proportionate
Amounts. Each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loans or the Commitment assigned, except that this
clause (ii) shall not prohibit any Lender from assigning all or a portion of its rights and obligations among separate Classes on a non-pro rata basis; 

(iii) Required Consents. No consent shall be required for any assignment except to the extent required by
subsection (b)(i)(B) of this Section and, in addition: 
 (A) the consent of the Borrower (such consent not to
be unreasonably withheld or delayed) shall be required unless (1) an Event of Default pursuant to Article VII(a), (b), (h) or (i) has occurred and is continuing at the time of such assignment or (2) such assignment is
an assignment of a Loan to a Lender, an Affiliate of a Lender or an Approved Fund; provided that the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative
Agent within ten (10) Business Days after having received notice thereof; 

  
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 (B) the consent of the Administrative Agent (such consent not to be
unreasonably withheld or delayed) shall be required for assignments in respect of (1) any Commitment or (2) any Loan to a Person that is not a Lender, an Affiliate of a Lender or an Approved Fund. 

(C) the consent of the Borrower or the Administrative Agent shall not be required for assignments by Lenders as security to any
Federal Reserve Bank. 
 (iv) Assignment and Assumption. The parties to each assignment shall execute and deliver to
the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500; provided, however, that the Administrative Agent may, in its sole discretion, elect to waive such processing
and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire. 

(v) No Assignment to Borrower. No such assignment shall be made to the Borrower or any of the Borrower’s Affiliates
or Subsidiaries. 
 (vi) No Assignment to Natural Persons. No such assignment shall be made to a natural person. 

Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c) of this Section, from and after the effective
date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this
Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of
the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 2.14, 2.15, 2.16 and 9.03 with respect to facts and
circumstances occurring prior to the effective date of such assignment. Upon request, the Borrower (at its expense) shall execute and deliver a Term Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations
under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with subsection (d) of this
Section. 
 (c) Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at the
Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts and interest thereon of the Loans
owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Administrative Agent and the Lenders shall treat
each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower and any
Lender, at any reasonable time and from time to time upon reasonable prior notice. 
 (d) Participations. Any Lender may at any time,
without the consent of, or notice to, the Borrower or the Administrative Agent, sell participations to any Person (other than a natural person or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a
“Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged,
(ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Administrative Agent and the Lenders shall continue to deal solely and directly with such
Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this
Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any
amendment, waiver or other modification described in Section 9.02(b)(i), (ii) or (iii) that affects such Participant. Subject to subsection (e) of this Section, the Borrower agrees that each Participant shall be entitled to the
benefits of Sections 2.14, 2.15 and 2.16 (subject to the requirements and limitations 

  
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of such Sections and Section 2.18) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section. To
the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 as though it were a Lender, provided such Participant agrees to be subject to Sections 2.17 and 2.18 as though it were a Lender.
Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the
principal amounts and interest thereon of each participant’s interest in the Loans or other obligations under this Agreement (the “Participant Register”); provided that no Lender shall have any obligation to disclose all
or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans or its other obligations under any Loan Document) to any Person except
to the extent that such disclosure is necessary in connection with a Tax audit or other proceeding to establish that any loans are in registered form for U.S. federal income tax purposes. The entries in the Participant Register shall be
conclusive absent manifest error, and such Lender shall treat each person whose name is recorded in the Participant Register as the Participant for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of
doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register. 

(e) Limitations upon Participant Rights. A Participant shall not be entitled to receive any greater payment under Section 2.14 or
2.16 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, except to the extent that the Participant’s right to a greater payment results from a Change in Law after the
Participant becomes a Participant. 
 (f) [Reserved]. 

(g) Certain Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this
Agreement (including under its Term Note(s), if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or other central bank having jurisdiction over such Lender;
provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

SECTION 9.05. Survival. All representations and warranties made hereunder and in any other Loan Document or other document delivered
pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by the Administrative Agent and each Lender,
regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default, and shall continue in full force and
effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied. The provisions of Sections 2.14, 2.15, 2.16 and 9.03 and Article VIII shall survive and remain in full force and effect regardless of the
consummation of the transactions contemplated hereby, the repayment of the Loans and the Commitments or the termination of this Agreement or any other Loan Document or any provision hereof or thereof. 

SECTION 9.06. Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto
on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement, the other Loan Documents and any separate letter agreements with respect to fees payable
to the Administrative Agent constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as
provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear the
signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Delivery of an executed counterpart of a signature page of this
Agreement by telecopy or pdf shall be effective as delivery of a manually executed counterpart of this Agreement. 
 SECTION 9.07.
Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting
the validity, legality and enforceability of the remaining provisions hereof; and the 

  
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invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 

SECTION 9.08. Right of Setoff. 

(a) If an Event of Default shall have occurred and be continuing, each Lender and each of its Affiliates is hereby authorized at any time and
from time to time upon notice to the Administrative Agent, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final and in whatever currency denominated) at any
time held and other obligations at any time owing by such Lender or Affiliate to or for the credit or the account of the Borrower against any of and all the Obligations of the Borrower now or hereafter existing under this Agreement or any other Loan
Document held by such Lender or such Affiliate, irrespective of whether or not such Lender or such Affiliate shall have made any demand under this Agreement or any other Loan Document and although such obligations may be unmatured; provided
that the failure to give such notice shall not affect the validity of such setoff and application. The rights of each Lender and its Affiliates under this Section are in addition to other rights and remedies (including other rights of
setoff) which such Lender and its Affiliates may have. 
 (b) To the extent that any payment by or on behalf of the Borrower is made to
the Administrative Agent or any Lender or its Affiliates, or the Administrative Agent or any Lender or its Affiliates exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated,
declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Lender or its Affiliates in its discretion) to be repaid to a trustee, receiver or any other
party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and
effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender and its Affiliates severally agrees to pay to the Administrative Agent upon demand its applicable share (without duplication) of any amount so
recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the applicable Overnight Rate from time to time in effect, in the applicable
currency of such recovery or payment. The obligations of the Lenders and their respective Affiliates under this clause (b) in the preceding sentence shall survive the payment in full of the Obligations and the termination of this
Agreement. 
 SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process. 

(a) This Agreement shall be construed in accordance with and governed by the law of the State of New York (without regard to the conflict of
law principles thereof to the extent that the application of the laws of another jurisdiction would be required thereby). 
 (b) Each of the
parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the
Southern District of New York sitting in New York County, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement or any other Loan Document, or for recognition or enforcement of any
judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding shall be heard and determined in such New York State or, to the extent permitted by law, in such
Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. The foregoing
shall not affect any right that any party hereto may otherwise have to bring any action or proceeding relating to this Agreement against any other party or its properties in the courts of any jurisdiction. 

(c) Each of the parties hereto hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any
objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Loan Document in any court referred to in clause (b) of this Section. Each of
the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

  
 60 

 (d) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 9.01. Nothing in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

SECTION 9.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY
OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

SECTION 9.11. Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference
only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

SECTION 9.12. Confidentiality. Each of the Administrative Agent and the Lenders agrees to maintain the confidentiality of the
Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective partners, directors, officers, employees, agents, trustees, advisors and representatives (it being
understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and shall have agreed to keep such Information confidential or shall be under a professional obligation to keep such
Information confidential, in each case, on terms at least as restrictive as those set forth in this Section), (b) to the extent requested or required by any regulatory authority purporting to have jurisdiction over it (including any
self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by applicable Laws or regulations or by any subpoena or similar legal process provided, that to the extent
practicable and permitted by law, the Lender shall notify the Company of such disclosure so that the Company may seek, at the Company’s sole expense, a protective order or other appropriate remedy, (d) to any other party hereto,
(e) to the extent reasonably necessary in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights
hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or
obligations under this Agreement or any Eligible Assignee invited to be a Lender pursuant to Section 2.18 or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to the Borrower
and its obligations, this Agreement or payments thereunder, (g) with the consent of the Company, (h) to the extent such Information (x) becomes publicly available other than as a result of a breach of this Section or
(y) becomes available to the Administrative Agent, any Lender or any of their respective Affiliates on a nonconfidential basis from a source other than the Borrower or (i) to any rating agency when required by it (it being understood that,
prior to any such disclosure, such rating agency shall undertake to preserve the confidentiality of any Information relating to the Borrower received by it from such Lender). For purposes of this Section, “Information” means all
information received from the Borrower or any Subsidiary relating to the Borrower or any Subsidiary or any of their respective businesses, other than any such information that is available to the Administrative Agent or any Lender on a
nonconfidential basis prior to disclosure by the Borrower or any Subsidiary. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if
such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 

Each of the Administrative Agent and the Lenders acknowledges that (a) the Information may include material non-public information concerning the Borrower or a Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use of material non-public
information and (c) it will handle such material non-public information in accordance with applicable Law, including United States Federal and state securities Laws. 

  
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 SECTION 9.13. USA PATRIOT Act. Each Lender that is subject to the Act (as hereinafter
defined) and the Canadian AML Acts and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”) and/or the Canadian AML Acts, it is required to obtain, verify and record information that identifies the Borrower, which
information includes the name and address of the Borrower and other information that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower in accordance with the Act and the Canadian AML Acts, as applicable. The
Borrower shall, promptly following a request by the Administrative Agent or any Lender, provide all documentation and other information that the Administrative Agent or such Lender requests in order to comply with its ongoing obligations under
applicable “know your customer” and anti-money laundering rules and regulations, including the Act and the Canadian AML Acts, as applicable. 

SECTION 9.14. Interest Rate Limitation. Notwithstanding anything to the contrary contained in any Loan Document, if at any time the
interest rate applicable to any Loan, together with all fees, charges and other amounts which are treated as interest on such Loan under applicable Law (collectively the “Charges”), shall exceed the maximum lawful rate (the
“Maximum Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable Law, the rate of interest payable in respect of such Loan hereunder, together with
all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this
Section shall be cumulated and the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at
the Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender. 
 SECTION 9.15. No Fiduciary
Duty. In connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower acknowledges and agrees, and acknowledges
its Affiliates’ understanding, that (i) (A) the arranging and other services regarding this Agreement provided by the Administrative Agent and the Arranger are arm’s-length commercial
transactions between the Borrower and its Affiliates, on the one hand, and the Administrative Agent and the Arranger on the other hand, (B) the Borrower has consulted its own legal, accounting, regulatory and tax advisors to the extent it has
deemed appropriate, and (C) the Borrower is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii) (A) the Administrative
Agent, the Arranger and each Lender is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for the Borrower and
its Affiliates, or any other Person and (B) neither the Administrative Agent, the Arranger nor any Lender has any obligation to the Borrower or any of its Affiliates with respect to the transactions contemplated hereby except those obligations
expressly set forth herein and in the other Loan Documents; and (iii) the Administrative Agent, the Arranger, the Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from
those of the Borrower and its Affiliates, and neither the Administrative Agent, the Arranger nor any Lender has any obligation to disclose any of such interests to the Borrower or any of its Affiliates. To the fullest extent permitted by law, the
Borrower hereby waives and releases any claims that it may have against the Administrative Agent, the Arranger and the Lenders with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction
contemplated hereby. 
 SECTION 9.16. Judgment Currency. If, for the purposes of obtaining judgment in any court, it is necessary to
convert a sum due hereunder or any other Loan Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase the first currency
with such other currency on the Business Day preceding that on which final judgment is given. The obligation of the Borrower in respect of any such sum due from it to the Administrative Agent or any Lender hereunder or under the other Loan Documents
shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with the applicable provisions of this Agreement (the “Agreement
Currency”), be discharged only to the extent that on the Business Day following receipt by the Administrative Agent or such Lender, as the case may be, of any sum adjudged to be so due in the Judgment Currency, the Administrative Agent or
such Lender, as the case may be, may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement 

  
 62 

 
Currency so purchased is less than the sum originally due to the Administrative Agent or any Lender from the Borrower in the Agreement Currency, the Borrower agrees, as a separate obligation and
notwithstanding any such judgment, to indemnify the Administrative Agent or such Lender, as the case may be, against such loss. If the amount of the Agreement Currency so purchased is greater than the sum originally due to the Administrative Agent
or any Lender in such currency, the Administrative Agent or such Lender, as the case may be, agrees to return the amount of any excess to the Borrower (or to any other Person who may be entitled thereto under applicable Law). 

SECTION 9.17. Electronic Execution of Assignments and Certain Other Documents. This Agreement, any Loan Document and any other
Communication, including Communications required to be in writing, may be in the form of an Electronic Record and may be executed using Electronic Signatures. The Borrower and each of the Administrative Agent and the Lender Parties agrees that any
Electronic Signature on or associated with any Communication shall be valid and binding on such Person to the same extent as a manual, original signature, and that any Communication entered into by Electronic Signature, will constitute the legal,
valid and binding obligation of such Person enforceable against such Person in accordance with the terms thereof to the same extent as if a manually executed original signature was delivered. Any Communication may be executed in as many counterparts
as necessary or convenient, including both paper and electronic counterparts, but all such counterparts are one and the same Communication. For the avoidance of doubt, the authorization under this paragraph may include, without limitation, use or
acceptance of a manually signed paper Communication which has been converted into electronic form (such as scanned into PDF format), or an electronically signed Communication converted into another format, for transmission, delivery and/or
retention. The Administrative Agent and each of the Lender Parties may, at its option, create one or more copies of any Communication in the form of an imaged Electronic Record (“Electronic Copy”), which shall be deemed created in
the ordinary course of such Person’s business, and destroy the original paper document. All Communications in the form of an Electronic Record, including an Electronic Copy, shall be considered an original for all purposes, and shall have the
same legal effect, validity and enforceability as a paper record. Notwithstanding anything contained herein to the contrary, the Administrative Agent is under no obligation to accept an Electronic Signature in any form or in any format unless
expressly agreed to by such Person pursuant to procedures approved by it; provided, further, without limiting the foregoing, (a) to the extent the Administrative Agent has agreed to accept such Electronic Signature, the Administrative Agent and
each of the Lender Parties shall be entitled to rely on any such Electronic Signature purportedly given by or on behalf of any Borrower and/or any Lender Party without further verification and (b) upon the request of the Administrative Agent or
any Lender Party, any Electronic Signature shall be promptly followed by such manually executed counterpart. 
 The Administrative Agent
shall not be responsible for or have any duty to ascertain or inquire into the sufficiency, validity, enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument or document (including, for the avoidance of
doubt, in connection with the Administrative Agent’s reliance on any Electronic Signature transmitted by telecopy, emailed .pdf or any other electronic means). The Administrative Agent shall be entitled to rely on, and shall incur no liability
under or in respect of this Agreement or any other Loan Document by acting upon, any Communication (which writing may be a fax, any electronic message, Internet or intranet website posting or other distribution or signed using an Electronic
Signature) or any statement made to it orally or by telephone and believed by it to be genuine and signed or sent or otherwise authenticated (whether or not such Person in fact meets the requirements set forth in the Loan Documents for being the
maker thereof). 
 The Borrower and each Lender Party hereby waives (i) any argument, defense or right to contest the legal effect,
validity or enforceability of this Agreement, any other Loan Document based solely on the lack of paper original copies of this Agreement, such other Loan Document, and (ii) waives any claim against the Administrative Agent, each Lender Party
and each Related Party for any liabilities arising solely from the Administrative Agent’s and/or any Lender Party’s reliance on or use of Electronic Signatures, including any liabilities arising as a result of the failure of the Borrower
to use any available security measures in connection with the execution, delivery or transmission of any Electronic Signature. 
 SECTION
9.18. Acknowledgement and Consent to Bail-In of Affected Financial Institutions. Solely to the extent an Affected Financial Institution is a party to this Agreement and notwithstanding anything to the
contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institution that is a Lender arising under any Loan Document,
to the extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

  
 63 

 (a) the application of any Write-Down and Conversion Powers by the
applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an Affected Financial Institution; and 

(b) the effects of any Bail-in Action on any such liability, including, if applicable:

 (i) a reduction in full or in part or cancellation of any such liability; 

(ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such Affected
Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any
such liability under this Agreement or any other Loan Document; or 
 (iii) the variation of the terms of such liability in
connection with the exercise of the Write-Down and Conversion Powers of the applicable Resolution Authority. 
 SECTION 9.19.
Acknowledgment Regarding Any Supported QFCs. To the extent that the Loan Documents provide support, through a guarantee or otherwise, for any Swap Agreement or any other agreement or instrument that is a QFC (such support,
“QFC Credit Support”, and each such QFC, a “Supported QFC”), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit
Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC
Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or of the United States or any other state of the United
States): 
 (a) In the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to
a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in
property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit
Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding
under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater
extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United States. Without limitation of the
foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support. 

(b) As used in this Section 9.19, the following terms have the following meanings: 

“BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted
in accordance with, 12 U.S.C. 1841(k)) of such party. 
 “Covered Entity” means any of the following:
(i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); (ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R.
§ 47.3(b); or (iii) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b). 

“Default Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12
C.F.R. §§ 252.81, 47.2 or 382.1, as applicable. 

  
 64 

 “QFC” has the meaning assigned to the term
“qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D). 

  
 65Exhibit 10.1

 

AMENDED AND RESTATED

 

STOCKHOLDERS AGREEMENT

 

THIS AMENDED AND RESTATED
STOCKHOLDERS AGREEMENT (this “Agreement”), is made as of the 2nd day of February 2016 (the “Effective
Date”), by and among Actelis Networks Inc., a Delaware corporation (the “Company”), Tuvia Barlev (the “Founder”),
Ram Vromen (the “Representative” and collectively with the Founder the “Common Holders”), holders
of Non-Voting Common Stock as listed on Schedule A hereto (each, a “Non- Voting Common Holder” and collectively,
the “Non-Voting Common Holders”), holders of Series A Convertible Preferred Stock as listed on Schedule B
(each a “Preferred A Shareholder” and collectively, the “Preferred A Shareholders”) and the investors
listed on Schedule C hereto (each, a “Preferred B Shareholder” and collectively, the “Preferred
B Shareholders” and collectively with the Preferred A Shareholders, the “Preferred Shareholders”) (each,
a party to this Agreement, and collectively, parties to this Agreement).

 

W I T N E S S E T H :

 

WHEREAS, the Company, the Common
Holders and the Preferred A Shareholders previously entered into a Shareholders’ Agreement, dated February 24, 2015, as amended
by way of that certain amendment by and between the Company and the Requisite Parties (as hereinafter defined) and dated November 30,
2015 (collectively, the “Prior Agreement”).

 

WHEREAS, the Company and certain
of the Preferred Shareholders are parties to the Series B Preferred Stock Purchase Agreement of even date herewith, pursuant to which
such Preferred Shareholders are purchasing the Company’s Series B Preferred Shares (the “Purchase Agreement”);
and

 

WHEREAS, in order to induce
the Preferred B Shareholders to invest funds in the Company pursuant to the Purchase Agreement, the Preferred B Shareholders’ obligations
under the Purchase Agreement are conditioned upon the execution and delivery of this Agreement by the Preferred B Shareholders, and the
Preferred A Shareholders holding a majority and interest of the Series A Preferred Convertible Stock, the Founder and the Company (the
“Requisite Parties”); and

 

NOW, THEREFORE, the parties
hereto, which include the Requisite Parties, hereby agree that the Prior Agreement shall be amended and restated in its entirety by this
Agreement, and the parties to this Agreement, in consideration of the mutual promises and covenants set forth herein, hereby agree as
follows:

 

		1.	Definitions.
                                            For the purpose of this Agreement:

 

1.1 “Affiliates”
means, (A) with respect to a Shareholder which is an entity or corporation: (i) in the case of a transferor which is a partnership –
its limited partners, general partners or the limited or general partners of such limited or general partners; (ii) in the case of any
incorporated shareholder (whether company or partnership) – any legal entity which controls, is controlled by, or is under common
control with or by the general partner of such incorporated shareholder (iii) a transfer of all Shareholder’s shares upon the liquidation
or dissolution of Shareholder’s fund or (iv) a transfer of shares by an Shareholder to a parallel investment fund of such Shareholder;
(B) with respect to a Shareholder who is an individual: (i) a spouse, child, brother, sister, or parent of the shareholder; or (ii) an
entity wholly-owned controlled by such shareholder, provided that such entity remains wholly-owned by such shareholder; or (iii) a trust
for the benefit of the shareholder; or (iv) a beneficiary of shares held in trust in accordance with the Company’s share option
plan as approved by the Board.

 

     

     

    

 

1.2 “Preferred Stock”
means Series A Preferred Stock and Series B Preferred Stock of the Company.

 

1.3 “Shareholder”
means a stockholder of the Company who is party to this Agreement.

 

		2.	Affirmative Covenants.

 

2.1 Delivery of Financial
Statements. The Company shall deliver to each Preferred Shareholder h and the Founder (each, a “Major Stockholder”),
the following:

 

(a) As soon as practicable,
but in any event within ninety (90) days after the end of each fiscal year of the Company, a consolidated balance sheet of the Company
as of the end of such year, and statements of income and statements of cash flow of the Company for such year, setting forth in each
case in comparative form the figures for the previous fiscal year, all in reasonable detail, United States dollar-denominated, prepared
in accordance with US generally accepted accounting principles (“GAAP”), audited by a firm of Independent Certified
Public Accountants approved by the Representative, and accompanied by an opinion of such firm which opinion shall state that such balance
sheet and statements of income and cash flow have been prepared in accordance with GAAP applied on a basis consistent with that of the
preceding fiscal year, and present fairly and accurately the financial position of the Company as of their date, and that the audit by
such accountants in connection with such financial statements has been made in accordance with generally accepted auditing standards;
and

 

(b) As soon as practicable,
but in any event within fourteen (14) days after the end of each month, a report in a form agreed from time to time by the Company’s
Board of Directors (the “Board”).

 

2.2 Accounting. The
Company will maintain and cause each of its Subsidiaries to maintain a system of accounting established and administered in accordance
with GAAP consistently applied, and will set aside on its books and cause each of its operating Subsidiaries to set aside on its books
all such proper reserves as shall be required by GAAP. For purposes of this Section 2.2, “Subsidiary” means any corporation
or entity at least a majority of whose voting securities are at the time owned by the Company, or by one or more Subsidiaries, or by
the Company and one or more Subsidiaries.

 

    2

     

    

 

2.3 Confidentiality.
Each Shareholder agrees that such Shareholder will keep confidential and will not disclose, divulge, or use for any purpose (other than
to monitor its investment in the Company) any Confidential Information (as defined below) obtained from the Company pursuant to the terms
of this Agreement (including notice of the Company’s intention to file a registration statement), unless such Confidential Information
(a) is known or becomes known to the public in general (other than as a result of a breach of this Section 2.3 by such Shareholder);
(b) is or has been independently developed or conceived by the Shareholder without use of the Company’s confidential information;
or (c) is or has been made known or disclosed to the Shareholder by a third party without a breach of any obligation of confidentiality
such third party may have to the Company; provided, however, that a Shareholder may disclose Confidential Information (i) to its employees,
attorneys, accountants, consultants, and other professionals (together the “Professionals”) to the extent necessary
to obtain their services in connection with monitoring its investment in the Company, provided that such Professionals are subject to
confidentiality due to their rules of professional conduct, agree to keep such information confidential or are already subject to a confidentiality
agreement with such Shareholder; (ii) to any prospective purchaser of any Registrable Securities from such Shareholder, if such prospective
purchaser agrees to be bound by the provisions of this Section 2.3; (iii) to any affiliate, partner, member, stockholder, or wholly owned
subsidiary of such Shareholder (each an “Affiliate”) in the ordinary course of business, provided that such Shareholder
informs such Affiliate that such information is confidential and such Affiliate agrees to keep such information confidential or such
Affiliate is already subject to a confidentiality agreement with such Shareholder; or (iv) as may otherwise be required by law, provided
that the Shareholder promptly notifies the Company of such disclosure and takes reasonable steps to minimize the extent of any such required
disclosure. The Company acknowledges that certain of the Major Stockholders are in the business of venture capital investing and therefore
review the business plans and related proprietary information of many enterprises, including enterprises that may have products or services
that compete directly or indirectly with those of the Company. Nothing in this Agreement shall preclude or in any way restrict the Major
Stockholders from investing or participating in any particular enterprise, regardless of whether such enterprise has products or services
that compete with those of the Company, without derogating from the confidentiality restrictions set forth herein. For purposes of this
Section 2.3 “Confidential Information” shall mean information obtained pursuant to Section 2.1.

 

2.4 Termination of Financial
Information Rights. The Company’s obligation to deliver the financial statements and other information under Section 2.1 shall
terminate and shall be of no further force or effect upon the earlier of (i) closing of an event of Liquidation (as such term is defined
in the existing Certificate of Incorporation as currently in effect) and (ii) closing of the Company’s initial firmly underwritten
public offering of its Common Stock pursuant to an effective registration statement under the United States Securities Act of 1933, as
amended (the “Securities Act”), or equivalent law of another jurisdiction yielding at least US$5 million to the Company
at a Company’s valuation of at least US$15 million (a “Qualified IPO”). Thereafter, the Company shall deliver
to the Preferred Shareholders, and its assignees or transferees, such financial information as the Company from time to time provides
to other holders of its shares.

 

2.5 Spin-Off. In the
event that the Board adopts a resolution for a spin-off, a split of one of the Company’s business unit or otherwise establishes
a new separate business entity, and seeks equity investments by parties other than the Company itself or its wholly owned subsidiaries,
unless otherwise is determined by the Board with the affirmative vote of at least two (2) Preferred Directors, each Preferred Shareholder
shall have a right of first refusal to participate in the funding of such new entity pro rata to its holdings in the Company at the time
of such Board resolution.

 

    3

     

    

 

3. Preemptive Rights.
Until a Qualified IPO, each Major shall have pre-emptive rights to purchase, pro-rata to the outstanding voting share capital of the
Company held by all voting Shareholders, all (or any part) of New Securities (as defined below) that the Company may, from time to time,
propose to sell and issue. The Major Stockholder’s pro rata share shall be the ratio of the number of shares of the Company’s
Common Stock (assuming for purposes of this Section that all Preferred Stock have been converted into Common Stock) then held by the
Major Stockholder as of the date of the Rights Notice (as defined in Section 2(b)), to the sum of the total number of such Common Stock
held by all voting Shareholders, excluding for the sake of clarity, all Non-Voting Common Stock. This right of pre-emptive rights shall
be subject to the following provisions:

 

(a) “New Securities”
shall mean any Common or Preferred Stock of any kind of the Company, whether now or hereafter authorized, and rights, options, or warrants
to purchase said Common or Preferred Stock, and securities of any type whatsoever that are, or may become, convertible into or exchangeable
for said common or preferred stock; provided, however, that “New Securities” shall not include (i) Common
Stock issued by the Company in connection with subdivisions, combinations or issuances of dividends payable in additional shares of Common
Stock, or other securities or rights convertible into, or entitling the holder thereof to receive directly or indirectly, additional
Common Stock; (ii) Common Stock issued to officers, directors or employees of, or bona fide consultants to, the Company pursuant to a
stock option plan or purchase plan approved by the Board (“Plan”) for employees, officers, directors or bona fide
consultants of the Company; (iii) Common Stock issued or issuable upon conversion of the Preferred Stock.

 

(b) If the Company proposes
to issue New Securities, it shall give the Major Stockholders written notice (the “Rights Notice”) of its intention,
describing the New Securities, the price, the general terms upon which the Company proposes to issue them, and the number of shares that
the Major Stockholder has the right to purchase under this Section 3. Each Major Stockholder (including, for this purpose, any party
to whom the Major Stockholder is permitted to assign its interests under this Agreement pursuant to Section 5.3 without consent) shall
have fourteen (14) days from delivery of the Rights Notice to agree to purchase (i) all or any part of its pro-rata share of such New
Securities, and (ii) all or any part of the pro- rata share of any other shareholder (including for this purpose any permitted transferee
of the Shareholder) entitled to such rights to the extent that such other shareholder does not elect to purchase its full pro-rata share,
in each case for the price and upon the general terms specified in the Rights Notice, by giving written notice to the Company setting
forth the quantity of New Securities to be purchased. If the acceptances, in the aggregate, are in respect of all of, or more than, the
New Securities, then the accepting Major Stockholders shall acquire the New Securities, on the terms aforementioned, in proportion to
their respective holdings provided that no Major Stockholder shall be entitled to acquire under the provisions of this Section 2 more
than the number of New Securities initially accepted by such Major Stockholder and upon the allocation to such Major Stockholder of the
full number of shares so accepted, such Major Stockholder shall be disregarded in any subsequent computations and allocations hereunder.
Any shares remaining after the computation of such respective entitlements shall be re-allocated among the accepting Major Stockholders
(other than those to be disregarded as aforesaid), in the same manner, until one hundred percent (100%) of the New Securities have been
allocated as aforesaid.

 

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(c) If the Major Stockholders,
within the period or periods specified in Section 2(b), submit acceptances to purchase, in the aggregate, less than all of the New Securities,
the Company shall have ninety (90) days after delivery of the Rights Notice to sell the unsold portion of the New Securities at a price
and upon general terms no more favorable to the purchasers thereof than specified in the Rights Notice. If the Company has not sold the
New Securities within said ninety (90) day period the Company shall not thereafter issue or sell any New Securities without first offering
such securities to the Major Stockholders in the manner provided above.

 

4. Registration. The
following provisions govern the registration of the Company’s securities:

 

4.1 Definitions. As
used herein, the following terms have the following meanings:

 

“Holder” means holder
of outstanding Registrable Securities or shares convertible into Registrable Securities, who acquired such Registrable Securities or
shares convertible into Registrable Securities in a transaction or series of transactions not involving any registered public offering.

 

“Form S-3” means Form
S-3 under the Securities Act, as in effect on the date hereof or any registration form under the Securities Act subsequently adopted
by the Securities and Exchange Commission (“SEC”) which permits inclusion or incorporation of substantial information
by reference to other documents filed by the Company with the SEC.

 

“Initiating Holders”
means Holders of at least fifty percent (50%) of the then outstanding Registrable Securities, assuming for purposes of such determination
the conversion of all shares convertible into Registrable Securities.

 

“Register”, “registered”
and “registration” refer to a registration effected by filing a registration statement in compliance with the Securities
Act and the declaration or ordering by the Commission of effectiveness of such registration statement, or the equivalent actions under
the laws of another jurisdiction.

 

“Registrable Securities”
means all Common Stock issuable upon conversion of the Preferred Stock, Common Stock held by the Representative and the Founder, all
Common Stock issued by the Company in respect of such shares and any additional shares of Common Stock or Preferred Stock of the Company
that the Major Stockholders may hereafter purchase pursuant to their preemptive rights, rights of first refusal or otherwise, or Common
Stock issued on conversion or exercise of other securities so purchased.

 

4.2 Incidental Registration.
If the Company at any time proposes to register any of its securities, other than in a registration under Section 4.3 or Section 4.4
of this Agreement, it shall give notice to the Holders of such intention. Upon the written request of any Holder given within twenty
(20) days after receipt of any such notice, the Company shall include in such registration all of the Registrable Securities indicated
in such request, so as to permit the disposition of the shares so registered. Notwithstanding any other provision of this Section 3.2,
if the managing underwriter advises the Company in writing that marketing factors require or favor a limitation of the number of shares
to be underwritten, then there shall be excluded from such registration and underwriting to the extent necessary to satisfy such limitation,
first shares held by stockholders other than the Holders and then to the extent necessary, shares held by the Holders (pro rata to the
respective number of Registrable Securities required by the Holders to be included in the registration); provided, however,
unless otherwise agreed to in writing by Holders of at least a majority of the Registrable Securities then outstanding, in no event shall
the amount of Registrable Securities of the Holders included in the registration be reduced below twenty five percent (25%) of the total
amount of securities included in such registration, unless such offering is the IPO, in which case such Holders may be excluded entirely
or partially if the underwriters make the determination described above and no securities other than those of the Company are included
in such registration; and provided, however, that in any event all Registrable Securities must be included in such registration
prior to any other securities of the Company (with the exception of securities to be issued by the Company to the public).

 

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4.3 Demand Registration.
At any time commencing six (6) months following the closing of the Company’s initial firmly underwritten public offering of its
Common Stock pursuant to an effective registration statement under the Securities Act, or equivalent law of another jurisdiction (“IPO”),
the Initiating Holders may request in writing that all or part of the Registrable Securities shall be registered for trading on the securities
exchange on which the IPO took place. Any such demand must request the registration of shares in a minimum amount, net of underwriting
discounts and commissions, exceeding two million United States Dollars (US$2,000,000). Within ten (10) days after receipt of any such
request, the Company shall give written notice of such request to the other Holders and shall include in such registration all Registrable
Securities held by all such Holders who wish to participate in such demand registration and provide the Company with written requests
for inclusion therein within fifteen (15) days after the receipt of the Company’s notice. Thereupon, the Company shall, as soon
as practicable, and in any event within ninety (90) days after the date such request is given by the Initiating Holders, file and use
its commercially reasonable efforts to effect the registration of all Registrable Securities as to which it has received requests for
registration for trading on the securities exchange specified in the request for registration (including, without limitation, filing
post-effective amendments, appropriate qualifications under applicable blue sky or other state securities laws, and appropriate compliance
with the Securities Act) and to permit or facilitate the sale and distribution of all or such portion of such Registrable Securities
as are specified in such request; provided, however, that the Company shall not be required to effect any registration
under this Section 4.3, within a period of one hundred and eighty (180) days following the effective date of a previous registration,
and in any of the following cases: (i) if the Company shall furnish to the Initiating Holders a certificate signed by the Chairman of
the Board or the President of the Company stating that in the good faith judgment of the Board, the Board has determined that such registration
would be materially detrimental to the Company and its stockholders at such time; in which event the Company shall have the right to
defer the filing of the registration statement for a period of not more than ninety (90) days after receipt of the request of the Preferred
Holder or Preferred Holders under this Section 4.3, provided, however, that the Company shall not be entitled to defer
the filing of the registration pursuant to this provision more than once in any twelve month period; (ii) if the Company has previously
effected two (2) demand registrations pursuant to the this Section 4.3 and such registrations have been declared or ordered effective;
(iii) in any particular jurisdiction in which the Company would be required to execute a general consent to service of process in effecting
such registration, qualification, or compliance, unless the Company is already subject to service in such jurisdiction and except as
may be required by the Securities Act; and (iv) during the period starting with the date the Company gives written notice to the Initiating
Holder(s) of an impending Company-initiated registration, which notice may be given no more than forty five (45) days prior to the Company’s
good faith estimate of the date of filing of, and ending on a date ninety (90) days after the effective date of, such registration; provided
that (A) the Company is actively employing in good faith all reasonable efforts to cause such registration to become effective, and
(B) if the effective date of such registration has not occurred within sixty (60) days after the giving of such notice, then this paragraph
(iv) shall no longer apply for a period of one year following the expiration of such 60-day period. Notwithstanding any other provision
of this Section 4.3, if the managing underwriter advises the Holders in writing that marketing factors require a limitation of the number
of shares to be underwritten, then the Company shall so advise all Holders of Registrable Securities which would otherwise be underwritten
pursuant hereto, and the number of shares that may be included in the underwriting shall be allocated to the Holders of such Registrable
Securities on a pro rata basis based on the number of Registrable Securities held by all such Holders (including the Initiating Holders).
Any Registrable Securities excluded or withdrawn from such underwriting shall be withdrawn from the registration. The Company shall not
register securities for sale for its own account in any registration requested pursuant to this Section 4.3 unless permitted to do so
by the written consent of Holders who hold at least fifty percent (50%) of the Registrable Securities as to which registration has been
requested. The Company may not cause any other registration of securities for sale for its own account (other than a registration effected
solely to implement an employee benefit plan) to be initiated after a registration requested pursuant to Section 4.3 and to become effective
less than one hundred twenty (120) days after the effective date of any registration requested pursuant to Section 4.3.

 

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4.4 Form S-3 Registration.
In case the Company shall receive from any Holder or Holders a written request or requests that the Company effect a registration on
Form S-3, and any related qualification or compliance, with respect to Registrable Securities, the Company shall within ten (10) days
after receipt of any such request give written notice of the proposed registration, and any related qualification or compliance, to all
other Holders, and include in such registration all Registrable Securities held by all such Holders who wish to participate in such registration
and provide the Company with written requests for inclusion therein within fifteen (15) days after the receipt of the Company’s
notice. Thereupon, the Company shall as soon as practicable, use its commercially reasonable efforts to effect such registration and
all such qualifications and compliances as may be so requested and as would permit or facilitate the sale and distribution of all or
such portion of such Holder’s or Holders’ Registrable Securities as are specified in such request, together with all or such
portion of the Registrable Securities of any other Holder or Holders joining in such request as are specified in a written request given
within fifteen (15) days after receipt of such written notice from the Company; provided, however, that the Company shall
not be obligated to effect any such registration, qualification or compliance, pursuant to this Section 4.4, (i) if Form S-3 is not available
for such offering by the Holders; (ii) if the Holders, together with the holders of any other securities of the Company entitled to inclusion
in such registration, propose to sell Registrable Securities and such other securities (if any) at an aggregate price to the public (net
of any underwriters’ discounts or commissions) of less than Five Hundred Thousand United States dollars ($500,000); (iii) if the
Company shall furnish to the Holders a certificate signed by the Chairman of the Board or the President of the Company stating that in
the good faith judgment of the Board, the Board has determined that it would be materially detrimental to the Company or its stockholders
for such Form S-3 registration statement to be effected at such time, in which event the Company shall have the right to defer the filing
of the Form S-3 registration statement for a period of not more than one hundred twenty (120) days after receipt of the request of the
Holder or Holders under this Section 4.4; provided, however, that the Company shall not utilize this right more than once
in any twelve (12) month period; (iv) if the Company has, within the six (6) month period preceding the date of such request, already
effected a registration on Form S-3 for the Holders pursuant to this Section 4.4; (v) during the period starting with the date sixty
(60) days prior to the Company’s estimated date of filing of, and ending on the date one hundred eighty (180) days immediately
following the effective date of, a registration statement made under Section 4.2 hereof, provided that the Company is actively employing
in good faith reasonable efforts to cause such registration statement to become effective and that the Company’s estimate of the
date of filing such registration statement is made in good faith; or (vi) in any particular jurisdiction in which the Company would be
required to qualify to do business or to execute a general consent to service of process in effecting such registration, qualification
or compliance.

 

Registrations effected pursuant
to this Section 4.4 shall not be counted as demands for registration or registrations effected pursuant to Section 4.3.

 

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4.5 Designation of Underwriter.

 

(a) In the case of any registration
effected pursuant to Section 4.3 or 4.4, the Initiating Holders that submitted the request for registration shall have the right to designate
the managing underwriter(s) in any underwritten offering.

 

(b) In the case of any registration
initiated by the Company, the Company shall have the right to designate the managing underwriter in any underwritten offering.

 

4.6 Expenses. All expenses
incurred in connection with any registration under Section 4.2, Section 4.3 or Section 4.4 shall be borne by the Company (including the
reasonable fees and disbursements of a single special counsel for the Holders); provided, however, that each of the Holders
participating in such registration shall pay its pro rata portion of discounts or commissions payable to any underwriter.

 

4.7 Indemnities. In
the event of any registered offering of securities of the Company pursuant to this Section 4:

 

(a) The Company will indemnify
and hold harmless, to the fullest extent permitted by law, any Holder, the partners, members, managers, officers, directors and stockholders
of such Holder, any underwriter for such Holder, and each person, if any, who controls the Holder or such underwriter, from and against
any and all losses, damages, claims, liabilities, joint or several, costs and expenses (including any amounts paid in any settlement
effected with the Company’s consent) to which the Holder or any such underwriter or controlling person may become subject under
applicable law or otherwise, insofar as such losses, damages, claims, liabilities (or actions or proceedings in respect thereof), costs
or expenses arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained in the
registration statement or included in the prospectus, as amended or supplemented, (ii) the omission or alleged omission to state therein
a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances in which
they are made, not misleading, or (iii) any violation or alleged violation by any other party hereto of the Securities Act, the Exchange
Act (as defined below), any state securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act or
any state securities law, and the Company will reimburse the Holder, such underwriter, each such controlling person of the Holder or
the underwriter, or other aforementioned person or entity promptly upon demand, for any reasonable legal or any other expenses incurred
by them in connection with investigating, preparing to defend or defending against or appearing as a third-party witness in connection
with such loss, claim, damage, liability, action or proceeding; provided, however, that the Company will not be liable
in any such case to the extent that any such loss, damage, liability, cost or expense arises out of or is based upon an untrue statement
or alleged untrue statement or omission or alleged omission so made in conformity with information furnished in writing by a Holder,
such underwriter or such controlling persons in writing specifically for inclusion therein; provided, further, that this
indemnity shall not be deemed to relieve any underwriter of any of its due diligence obligations; provided, further, that
the indemnity agreement contained in this subsection 4.7(a) shall not apply to amounts paid in settlement of any such claim, loss, damage,
liability or action if such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld.
Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the selling shareholder,
the underwriter or any controlling person of the selling shareholder or the underwriter, and regardless of any sale in connection with
such offering by the selling shareholder. Such indemnity shall survive the transfer of securities by a selling shareholder.

 

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(b) To the extent permitted
by law, each Holder participating in a registration hereunder, severally and not jointly, in proportion to the number of Registrable
Securities sold by such Holder, will indemnify and hold harmless the Company, each other Holder participating in such registration, any
underwriter for the Company, or for any such other Holder, and each person, if any, who controls the Company or such underwriter or such
other Holder, from and against any and all losses, damages, claims, liabilities, costs or expenses (including any amounts paid in any
settlement effected with the selling shareholder’s consent) to which the Company or any such controlling person and/or any such
underwriter and/or such other Holder may become subject under applicable law or otherwise, insofar as such losses, damages, claims, liabilities
(or actions or proceedings in respect thereof), costs or expenses arise out of or are based on (a) any untrue or alleged untrue statement
of any material fact contained in the registration statement or included in the prospectus, as amended or supplemented, or (b) the omission
or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in
the light of the circumstances in which they were made, not misleading, and each such Holder will reimburse the Company, each other Holder
participating in such registration, any underwriter and each such controlling person of the Company or any underwriter, promptly upon
demand, for any reasonable legal or other expenses incurred by them in connection with investigating, preparing to defend or defending
against or appearing as a third-party witness in connection with such loss, claim, damage, liability, action or proceeding; in each case
to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was so
made in strict conformity with written information furnished by such Holder specifically for inclusion therein. The foregoing indemnity
agreement is subject to the condition that, insofar as it relates to any such untrue statement (or alleged untrue statement) or omission
(or alleged omission) made in the preliminary prospectus but eliminated or remedied in the amended prospectus at the time the registration
statement becomes effective or in the Final Prospectus, such indemnity agreement shall not inure to the benefit of (i) the Company and
(ii) any underwriter, if a copy of the Final Prospectus was not furnished to the person or entity asserting the loss, liability, claim
or damage at or prior to the time such furnishing is required by the Securities Act; provided, further, that this indemnity
shall not be deemed to relieve any underwriter of any of its due diligence obligations; provided, further, that the indemnity
agreement contained in this subsection 4.7(b) shall not apply to amounts paid in settlement of any such claim, loss, damage, liability
or action if such settlement is effected without the consent of the Holders, as the case may be, which consent shall not be unreasonably
withheld. In no event shall the liability of a Holder exceed the net proceeds from the offering received by such Holder.

 

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(c) Promptly after receipt
by an indemnified party pursuant to the provisions of Sections 4.7(a) or 4.7(b) of notice of the commencement of any action involving
the subject matter of the foregoing indemnity provisions, such indemnified party will, if a claim thereof is to be made against the indemnifying
party pursuant to the provisions of said Section 4.7(a) or 4.7(b), promptly notify the indemnifying party of the commencement thereof;
but the omission to notify the indemnifying party will not relieve it from any liability which it may have to any indemnified party otherwise
than hereunder. In case such action is brought against any indemnified party and it notifies the indemnifying party of the commencement
thereof, the indemnifying party shall have the right to participate in, and, to the extent that it may wish, jointly with any other indemnifying
party similarly notified, to assume the defense thereof with counsel reasonably satisfactory to such indemnified party; provided,
however, that if the defendants in any action include both the indemnified party and the indemnifying party and there is a conflict
of interests which would prevent counsel for the indemnifying party from also representing the indemnified party, the indemnified party
or parties shall have the right to select one separate counsel, with the fees and expenses to be paid by the indemnifying party, to participate
in the defense of such action on behalf of such indemnified party or parties. After notice from the indemnifying party to such indemnified
party of its election so to assume the defense thereof, the indemnifying party will not be liable to such indemnified party pursuant
to the provisions of said Sections 4.7(a) or 4.7(b) for any legal or other expense subsequently incurred by such indemnified party in
connection with the defense thereof, unless (i) the indemnified party shall have employed counsel in accordance with the provision of
the preceding sentence, (ii) the indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified party
to represent the indemnified party within a reasonable time after the notice of the commencement of the action and within 15 days after
written notice of the indemnified party’s intention to employ separate counsel pursuant to the previous sentence, or (iii) the
indemnifying party has authorized the employment of counsel for the indemnified party at the expense of the indemnifying party. No indemnifying
party will consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the
giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation.

 

(d) If recovery is not available
under the foregoing indemnification provisions, for any reason other than as specified therein, the parties entitled to indemnification
by the terms thereof shall be entitled to contribution to liabilities and expenses as more fully set forth in an underwriting agreement
to be executed in connection with such registration. In determining the amount of contribution to which the respective parties are entitled,
there shall be considered the parties’ relative knowledge and access to information concerning the matter with respect to which
the claim was asserted, the opportunity to correct and prevent any statement or omission, and any other equitable considerations appropriate
under the circumstances. In no event shall the liability of a Holder exceed the net proceeds from the offering received by such Holder.

 

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(e) Unless otherwise superseded
by an underwriting agreement entered into in connection with an underwritten public offering, the obligations of the Company and Holders
under this Section 4 shall survive the completion of any offering of Registrable Securities in a registration under this Section 4.

 

4.8 Obligations of the
Company. Whenever required under this Section 4 to effect the registration of any Registrable Securities, the Company shall, as expeditiously
as possible:

 

(a) prepare and file with
the SEC a registration statement with respect to such Registrable Securities and use its best efforts to cause such registration statement
to become effective, and, upon the request of the holders of a majority of the Registrable Securities registered thereunder, keep such
registration statement effective for a period of up to nine (9) months or, if sooner, until the distribution contemplated in the Registration
Statement has been completed; provided, however, that such nine (9) month period shall be extended for a period of time
equal to the period the Holder refrains, at the request of an underwriter of Common Stock (or other securities) of the Company, from
selling any securities included in such registration.

 

(b) prepare and file with
the SEC such amendments and supplements to such registration statement and the prospectus used in connection with such registration statement
as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all Registrable Securities
covered by such registration statement.

 

(c)  furnish to the Holders
such numbers of copies of a prospectus, including a preliminary prospectus, in conformity with the requirements of the Securities Act,
and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them.

 

(d)  register and qualify
the Registrable Securities covered by such registration statement under such other securities or “blue sky” laws of such
jurisdictions as shall be reasonably requested by the Holders; provided, that in no event shall the Company be required to qualify
to do business in any state or other jurisdiction or to take any action which would subject it to general or unlimited service of process
in any jurisdiction where it is not now so subject.

 

(e) in the event of any underwritten
public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing
underwriter of such offering. Each Holder participating in such underwriting shall also enter into and perform its obligations under
such an agreement.

 

(f) notify each holder of
Registrable Securities covered by such registration statement at any time when a prospectus relating thereto is required to be delivered
under the Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect,
includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make
the statements therein not misleading in the light of the circumstances then existing, and as promptly as possible thereafter the Company
shall promptly prepare and furnish to such Holder a reasonable number of copies of a supplement to or an amendment of such prospectus
as may be necessary so that, as thereafter delivered to the purchasers of such shares, such prospectus will not include an untrue statement
of material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which
they were made, not misleading.

 

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(g) cause all Registrable
Securities registered pursuant hereunder to be listed on each securities exchange on which similar securities issued by the Company are
then listed.

 

(h) provide a transfer agent
and registrar for all Registrable Securities registered pursuant hereunder and a CUSIP number for all such Registrable Securities, in
each case not later than the effective date of such registration.

 

(i) furnish, at the request
of any Holder requesting registration of Registrable Securities pursuant to this Section 4, on the date that such Registrable Securities
are delivered to the underwriters for sale in connection with a registration pursuant to this Section 3, if such securities are being
sold through underwriters, or, if such securities are not being sold through underwriters, on the date that the registration statement
with respect to such securities becomes effective, (i) an opinion, dated such date, of the counsel representing the Company for the purposes
of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to
the underwriters, if any, and to the Holders requesting registration of Registrable Securities and (ii) a letter dated such date, from
the independent certified public accountants of the Company, in form and substance as is customarily given by independent certified public
accountants to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Holders requesting
registration of Registrable Securities.

 

(j) promptly make available
for inspection by (i) the selling Holders, (ii) any underwriter participating in any disposition pursuant to such registration statement,
and (iii) any attorney or accountant or other agent retained by any such underwriter or selected by the selling Holders; all financial
and other records, pertinent corporate documents, and properties of the Company, and cause the Company’s officers, directors, employees,
and independent accountants to supply all information reasonably requested by any such seller, underwriter, attorney, accountant, or
agent in connection with any such registration statement.

 

(k) notify each selling Holder,
promptly after the Company receives notice thereof, of the time when such registration statement has been declared effective or a supplement
to any prospectus forming a part of such registration statement has been filed.

 

(l) after such registration
statement becomes effective, notify each selling Holder of any request by the SEC that the Company amend or supplement such registration
statement or prospectus.

 

4.9 Assignment of Registration
Rights. Any of the Holders may assign its rights to cause the Company to register Shares pursuant to this Section 4 to a transferee
of all or any part of its Registrable Securities, provided (i) such transferee acquires of the Registrable Securities of such
Holder; (ii) that the transferee is a subsidiary, parent, affiliate, general partner, limited partner, retired partner, member or retired
member of a Holder, or (iii) the transferee is a Holder’s immediate family member or trust for the benefit of an individual Holder
or one or more of such Holder’s immediate family members, and (b) such transfer is otherwise effected in accordance with applicable
securities laws. The transferor shall, within twenty (20) days after such transfer, furnish the Company with written notice of the name
and address of such transferee and the securities with respect to which such registration rights are being assigned, and the transferee’s
written agreement to be bound by this Section 4.

 

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4.10 Lock-Up. In any
registration of the Company’s shares each of the Holders agrees that any sales of securities held by such Holder may be subject
to a “lock-up” period restricting such sales, and all Holders and their transferees will agree to abide by such customary
“lock-up” period of up to one hundred and eighty (180) days in connection with the IPO, or, if required by such underwriter
in connection with the IPO, such longer period of time as is necessary to enable such underwriter to issue a research report or make
a public appearance that relates to an earnings release or announcement by the Company within fifteen (15) days before or after the date
that is one hundred eighty (180) days after the effective date of the registration statement relating to such offering, but in any event
not to exceed two hundred ten (210) days following the effective date of the registration statement relating to such offering (the applicable
period, the “Stand-Off Period”), during which period the Holders agree that they will not, without the prior written
consent of the managing underwriter (i) lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase
any option or contract to sell, grant any option, right, or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly,
any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock (whether such shares or
any such securities are then owned or are thereafter acquired) or (ii) enter into any swap or other arrangement that transfers to another,
in whole or in part, any of the economic consequences of ownership of the Common Stock, whether any such transaction described in clause
(i) or (ii) above is to be settled by delivery of Common Stock or other securities, in cash, or otherwise. The foregoing provisions of
this Section 4.10 shall apply only to the IPO, shall not apply to the sale of any shares to an underwriter pursuant to an underwriting
agreement and shall be applicable to the Holders only if all officers, directors, and stockholders individually owning more that one
percent (1%) of the Company’s outstanding Common Stock are subject to substantially similar restrictions. The underwriters in connection
with the IPO are intended third party beneficiaries of this Section 4.10 and shall have the right, power, and authority to enforce the
provisions hereof as though they were a party hereto. The Holders further agree to execute such agreements as may be reasonably requested
by the underwriters in the IPO that are consistent with this Section 4.10 or that are necessary to give further effect thereto. The obligations
described in this Section 4.10 shall not apply to a registration relating solely to employee benefit plans on Form S-l or Form S-8 or
similar forms that may be promulgated in the future, or a registration relating solely to a transaction on Form S-4 or similar forms
that may be promulgated in the future. The Company may impose stop-transfer instructions with respect to the shares of Common Stock (or
other securities) subject to the foregoing restriction until the end of Stand-Off Period. The Holders agree to execute a market standoff
agreement with said underwriters in customary form consistent with the provisions of this Section 3.10.

 

4.11 Public Information.
At any time and from time to time after the earlier of the close of business on such date as (a) a registration statement filed by the
Company under the Securities Act becomes effective, (b) the Company registers a class of securities under Section 12 of the United States
Securities Exchange Act of 1934, as amended, or any federal statute or code which is a successor thereto (the “Exchange Act”),
or (c) the Company issues an offering circular meeting the requirements of Regulation A under the Securities Act, the Company shall (i)
undertake to make publicly available and available to the Preferred Shareholders pursuant to Rule 144, such information as is necessary
to enable the Preferred Shareholders to make sales of Registrable Securities pursuant to that Rule. The Company shall comply with the
current public information requirements of Rule 144 and shall furnish thereafter to any Preferred Shareholder, upon request, a written
statement executed by the Company as to the steps it has taken to so comply, (ii) use best efforts to file with the SEC in a timely manner
all reports and other documents required of the Company under the Securities Act and the Exchange Act (at any time after the Company
has become subject to such reporting requirements) and (iii) furnish to any Holder, so long as the Holder owns any Registrable Securities,
forthwith upon request (x) a written statement by the Company that it has complied with the reporting requirements of Rule 144 (at any
time after ninety (90) days after the effective date of the registration statement filed by the Company for the IPO), the Securities
Act, and the Exchange Act (at any time after the Company has become subject to such reporting requirements), or that it qualifies as
a registrant whose securities may be resold pursuant to Form S-3 (at any time after the Company so qualifies); (y) a copy of the most
recent annual or quarterly report of the Company and such other reports and documents so filed by the Company; and (z) such other information
as may be reasonably requested in availing any Holder of any rule or regulation of the SEC that permits the selling of any such securities
without registration (at any time after the Company has become subject to the reporting requirements under the Exchange Act) or pursuant
to such Form S-3 (at any time after the Company so qualifies to use such form).

 

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4.12 Grant of Additional
Registration Rights. The Company may not grant additional demand registration rights, and any incidental or other registration rights
senior to or on parity with the Holders, to any party without the prior written consent of the holders of at least a majority of the
Registrable Securities.

 

4.13 Foreign Offerings.
The provisions and intent of this Section 4 shall apply, mutatis mutandis, to any registration of the securities of the Company
outside of the United States, to the extent applicable.

 

5. Negative Covenants.
Until a Qualified IPO, the Company shall not, either directly or indirectly, without the prior consent of the holders of at least majority
of the issued and outstanding Preferred Stock, take any of the actions listed in Article C(3)(b) of the existing Certificate of Incorporation
as currently in effect.

 

6. Insurance. The Company
represents that it has obtained from financially sound and reputable insurers a Directors and Officers insurance policy in an amount
of at least US$ 5,000,000 (the “Insurance Policy”) which is in full force and effect as of the date hereof. Until
such time as the Board determines that the Insurance Policy should be discontinued, the Company shall use commercially reasonable efforts
to maintain in full force and effect the Insurance Policy. The Insurance Policy shall not be cancelable by the Company without prior
approval of the Board and the Representative.

 

7. Right of First Refusal.
Prior to a Qualified IPO, any Transfer (as defined below) of any capital stock of the Company, of any class or series, now owned or hereafter
acquired, whether pursuant to the exercise of an option, warrant or otherwise (the “Securities”) by any Shareholder
(other than the repurchase by the Company of Common Stock from the Founder pursuant to that certain Stock Repurchase Agreement made and
entered into effective as of February 24, 2015, by and between the Company and the Founder) shall be subject to the following:

 

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(a) a Shareholder of the
Company proposes to sell, assign, transfer, pledge, hypothecate, mortgage or dispose of, by gift or otherwise, or in any way encumber
(“Transfer”) any Securities it holds of the Company to one or more third parties pursuant to an understanding with
such third parties, then such Shareholder (the “Offering Stockholder”) shall give each Major Stockholder, a written
notice of the Offering Stockholder’s intention to make the Transfer (the “Transfer Notice”), which Transfer
Notice shall include (i) a description of the securities to be transferred (“Offered Shares”), (ii) the identity of
the prospective transferee(s) and (iii) the consideration and the material terms and conditions upon which the proposed Transfer is to
be made. The Transfer Notice shall certify that the Offering Stockholder has received an offer from the prospective transferee(s) and
in good faith believes a binding agreement for the Transfer is obtainable on the terms set forth in the Transfer Notice. The Transfer
Notice shall also include a copy of any written proposal, term sheet or letter of intent or other agreement relating to the proposed
Transfer.

  

(b) The Major Stockholders
shall have an option for a period of twenty (20) days from the Major Stockholder’s receipt of the Transfer Notice from the Offering
Stockholder to elect to purchase their respective pro rata amount of the Offered Shares at the same price and subject to the same material
terms and conditions as described in the Transfer Notice. Each Major Stockholder may exercise such purchase option and, thereby, purchase
all or any portion of his, her or its pro rata share (with any re-allotments as provided below) of the Offered Shares, by notifying the
Offering Stockholder and the Company in writing, before expiration of the twenty (20) day period as to the number of such shares which
he, she or it wishes to purchase (including any re-allotment). Each Major Stockholder’s pro rata share of the Offered Shares shall
be a fraction of the Offered Shares, of which the number of shares of Common Stock (including shares of Common Stock issuable upon conversion
of Preferred Stock owned by such Major Stockholder on the date of the Transfer Notice shall be the numerator and the total number of
shares of Common Stock (including shares of Common Stock issuable upon conversion of Preferred Stock) held by all Major Stockholders,
excluding the holders of Non-Voting Common Stock, on the date of the Transfer Notice shall be the denominator (without the offering Stockholder).
Each Major Stockholder shall have a right of re-allotment such that, if any other Major Stockholder fails to exercise the right to purchase
its full pro rata share of the Offered Shares, the other participating Major Stockholders may exercise an additional right to purchase,
on a pro rata basis, the Offered Shares not previously purchased. Each Major Stockholder shall be entitled to apportion Offered Shares
to be purchased among its partners, members, and Affiliates, provided that such Major Stockholder notifies the Offering Stockholder of
such allocation. If a Major Stockholder gives the Offering Stockholder notice that it desires to purchase its pro rata share of the Offered
Shares and, as the case may be, its re-allotment, then payment for the Offered Shares shall be by check or wire transfer, against delivery
of the Offered Shares to be purchased at a place agreed upon between the parties and at the time of the scheduled closing therefor, which
shall be no later than forty-five (45) days after receipt of the Transfer Notice, unless the Transfer Notice contemplated a later closing
with the prospective third party transferee(s) or unless the value of the purchase price has not yet been established pursuant to Section
7(c).

 

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(c) Should the purchase price
specified in the Transfer Notice be payable in property other than cash or evidences of indebtedness, the Major Stockholders shall have
the right to pay the purchase price in the form of cash equal in amount to the value of such property. If the Offering Stockholder and
the Major Stockholders cannot agree on such cash value within ten (10) days after the Company’s receipt of the Transfer Notice,
the valuation shall be made by an appraiser of recognized standing selected by the Offering Stockholder and the Major Stockholders or,
if they cannot agree on an appraiser within twenty (20) days after the Major Stockholders’ receipt of the Transfer Notice, each
shall select an appraiser of recognized standing and the two appraisers shall designate a third appraiser of recognized standing, whose
appraisal shall be determinative of such value. The cost of such appraisal shall be shared equally by the Offering Stockholder and the
Holders, with the half of the cost borne by the Holders borne pro rata by each based on the number of shares such parties were interested
in purchasing pursuant to this Section 7. If the time for the closing of the Company’s purchase or the Holders’ purchase
has expired but for the determination of the value of the purchase price offered by the prospective transferee(s), then such closing
shall be held on or prior to the fifth business day after such valuation shall have been made pursuant to this subsection.

 

(d) Legend. Each certificate
representing Securities of the Shareholders shall be endorsed with the following legend:

 

THE SALE OR TRANSFER OF THE SECURITIES
REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN AMENDED AND RESTATED STOCKHOLDERS AGREEMENT BY AND
AMONG THE COMPANY, THE HOLDER HEREOF AND OTHER STOCKHOLDERS OF THE COMPANY, AS AMENDED FROM TIME TO TIME. COPIES OF SUCH AGREEMENT MAY
BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY.

 

(e) The above legend shall
be removed upon termination of this Agreement.

 

(f) Without derogating or
limiting the foregoing, the Right of First Refusal as set forth in this Section 7 shall not apply to any Transfer of Non-Voting Common
Stock. For the sake of clarity, holders of Non-Voting Common Stock shall only be able to Transfer their respective shares of Non-Voting
Common Stock as follows: (i) to the Company, or (ii) by any other means as approved by the Board of Directors of the Corporation.

 

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8. Co-Sale; Transfers of
Stock.

 

(a) Unless the rights of
first refusal set forth in Section 7 above are exercised in full by the Major Stockholders, each of the Major Stockholders shall have
the right to participate in any sale of Securities by any Shareholder other than the Non-Voting Common Holders (the “Selling
Stockholder”) to any third party (the “Third Party”) pursuant to the provisions hereof and on the specified
terms and conditions of the Transfer Notice. Each of the Major Stockholders shall be entitled, upon written notice to the Selling Stockholder
within forty-five (45) days after receipt of the Transfer Notice (a “Participation Notice”), to sell to the Third
Party up to that number of the shares in the Company owned by such Major Stockholder (the “Equity Shares”) determined
by multiplying the total number of Offered Shares times a fraction the numerator of which is the number of shares of Common Stock owned
by such Major Stockholder (assuming for purposes of this section, the conversion of all Preferred Stock) and the denominator of which
is the total number of shares of Common Stock (assuming, for purposes of this section, the conversion of all Preferred Stock) held by
all Major Stockholders, and such Selling Stockholder. A Participation Notice shall indicate, subject to the terms of this Section 8,
the number of Shares that such Preferred Shareholder intends to transfer to the Third Party. To the extent one or more of the Major Stockholders
exercises such right in accordance with the terms and conditions set forth below, the number of securities that the Selling Stockholder
may sell pursuant to such Offer shall be correspondingly reduced. At the closing of the sale of securities to the Third Party, the Selling
Stockholder shall transfer his shares to the Third Party only if the Third Party concurrently therewith purchases, on the same terms
and conditions specified in the Offer, all of the Shares as to which Participation Notices have been delivered. The restrictions set
forth in this Section 8 shall terminate upon the closing of a Qualified IPO (as such term is defined in the Amended Certificate).

  

(b) To the extent that the
Major Stockholders have not exercised their rights to purchase the Offered Shares in full within the time periods specified in Section
7 and the Major Stockholders have not exercised their rights to participate in the sale of the Offered Shares within the time periods
specified in Section 8(a), the Offering Stockholder shall have a period of ninety (90) days from the expiration of such rights in which
to sell the Offered Shares upon terms and conditions (including the purchase price) no more favorable than those specified in the Transfer
Notice to the third-party transferee(s) identified in the Transfer Notice. In the event the Offering Stockholder does not consummate
the sale or disposition of the Offered Shares within the ninety (90) day period from the expiration of these rights, the first refusal
rights and co-sale rights shall continue to be applicable to any subsequent disposition of the Offered Shares by the Offering Stockholder
until such right lapses in accordance with the terms of this Agreement. Furthermore, the exercise or non-exercise of the rights of the
Major Stockholders to purchase securities from an Offering Stockholder or participate in sales of securities by a Offering Stockholder
shall not adversely affect their rights to make subsequent purchases from the Offering Stockholder of securities or subsequently participate
in sales of securities by the Offering Stockholders.

 

(c) Notwithstanding the provisions
of Sections 7 and 8(a) of this Agreement, a Shareholder may Transfer, with or without consideration, securities to (i) the Company at
cost pursuant to the terms of an agreement approved by the Board of Directors of the Company providing for repurchase of shares upon
certain events including termination of employment; (ii) any spouse, domestic partner or member of such Shareholder’s immediate
family, or to a custodian, trustee (including a trustee of a voting trust), executor, or other fiduciary for the account of such Shareholder’s
spouse, domestic partner or members of the such Shareholder’s immediate family, or to a trust for the Shareholder’s own self,
or a charitable remainder trust; (iii) the current equity owner(s) of any shareholder that is a corporation, partnership limited liability
company, or other entity or affiliate, trust or liquidating trust of such entity; (iv) an Affiliate of such Shareholder, (v) a corporation,
partnership, limited liability company or other entity, all of the shares, partnership interests, membership or other ownership interests
of which are owned by such shareholder and/or its Affiliates or (vi) solely with respect to Co-Sale rights an amount of shares which
reflect less than 50% of the Company’s shares owned by such Offering Stockholder at that time (the right of first refusal shall
apply on any sale of shares) or (vii) an Affiliate.

 

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(d) In addition to any limitations
set forth in the provisions of Sections 7 of this Agreement, transfer of shares of Non-Voting Common Stock by a Non-Voting Common Holder
shall be subject to the prior written consent of the Board.

 

9. Drag-Along. The
parties hereto agree to such “drag along” provisions as is set forth in ARTICLE ELEVENTH of the Amended Certificate which
is incorporated by reference to this Agreement.

 

10. Affirmative Covenants.
The parties agree that, in the event at any time the number of authorized shares of Common Stock of the Company shall be insufficient
to permit the conversion of all Preferred Stock into Common Stock in accordance with the conversion provisions of the Company’s
Certificate of Incorporation, as amended and restated from time to time, the Preferred Shareholders and the Common Holders shall vote
in favor of such increase in the Company’s authorized capital stock as shall be necessary to permit such conversion. Furthermore,
the Preferred Shareholders and the Common Holders agree to vote their shares and do all such other acts as are necessary to give full
force and effect to this Agreement.

 

11. Board of Directors.

 

11.1 Election of Directors.
The Board shall be composed of up to five (5) directors who shall be elected in the manner set forth in this Section 11.

 

11.2 The Founder, regardless
of his holdings of Common Stock or position with the Company, shall be entitled to designate the person to fill the directorship elected
by the Common Stock as a separate class (the “Founder Director”). The initial Founder Director shall be the Founder.
Notwithstanding the foregoing, in the event that the Founder sells or transfers (other than to Affiliates) more than 50% of his holdings
in the Company as of the date of this Agreement, then the Founder shall no longer have the right to appoint the Founder Director, and
the Preferred Directors at the time of such sale or transfer, by a vote of majority, shall be entitled to appoint the Founder Director.

 

11.3 The holders of the majority
of the Company’s Series A Preferred Shares, voting as a separate class (or by written consent), shall be entitled to elect three
directors (the “Preferred Directors”, each a “Preferred Director”). Following the consummation
of an additional round of investment in the Company, which was led by a party who is not a Preferred Stockholder, the number of the Preferred
Directors shall be decreased to two Preferred Directors one of them shall be the Representative. In the event that the holders of Preferred
A Shares sell or transfer (other than to Affiliates) more than 50% of their holdings (in the aggregate) in the Company, then the holders
of Preferred A Shares shall have the right to appoint only one (1) Preferred Director.

 

11.4 The holders of the majority
of the Company’s Series B Preferred Shares, voting as a separate class (or by written consent), shall be entitled to elect one
(1) director (the “Investor Director”). The initial Investor Director shall be Israel Niv. In the event the holders
of Preferred B Shares as at the Closing (as defined in the Purchase Agreement) sell or transfer (other than to affiliates) more than
50% of their holdings (in the aggregate) in the Company, then the holders of Preferred B Shares shall not be entitled to appoint an Investor
Director.

 

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11.5 The Board may agree
to elect an additional director who is either an industry expert or a director with past experience as CEO of companies in the hi-tech
field.

 

11.6 Removal of Board Members.
Each party to this Agreement also agrees to vote, or cause to be voted, all Shares owned by such party, or over which such party has
voting control, from time to time and at all times, in whatever manner as shall be necessary to ensure that:

 

(a) no director elected pursuant
to Sections 11.2 and 11.3 of this Agreement may be removed from office unless (i) such removal is directed or approved by the affirmative
vote of the persons or entities entitled under Sections 11.2 or 11.3, respectively, to designate that director or (ii) the persons or
entities originally entitled to designate or approve such director pursuant to Sections 11.2 through 11.4, as applicable, are no longer
so entitled to designate or approve such director; and

 

(b) any vacancies created
by the resignation, removal or death of a director elected pursuant to Sections 11.2 and 11.3 shall be filled pursuant to the provisions
of this Section 11, provided, however, that the holders of any series of Preferred Stock shall not be obligated to fill
any vacancy entitled to be filed by such holder in the event they choose not to do so, and any such failure to fill a vacancy shall not
be deemed to be a breach of this Agreement or any other duty as may then exist.

 

11.7 Voting. Each party
to this Agreement agrees that it shall vote, or cause to be voted, all shares of voting stock of the Company it holds, subsequently acquires
or otherwise has the power to vote (including, without limitation, any Common Stock obtained upon the conversion of the Preferred Stock
and all Shares acquired after the date of this Agreement) to ensure election of the Company’s directors in accordance with Sections
11.2 through Section 11.4 at any annual or special meeting of stockholders at which an election of directors is held or pursuant to any
written consent of the stockholders.

 

Each party to this Agreement
agrees to execute any written consents required to perform the obligations of this Agreement, and the Company agrees at the request of
any party entitled to designate directors to call a special meeting of stockholders for the purpose of electing directors.

 

11.8 Chairperson. The
Board shall elect one director as chairman of the Board. The Chairperson shall not have a casting vote.

 

11.9 Committees. The
by-laws shall provide that any committee established by the Board shall include at least one of the Preferred Directors.

 

11.10 Subsidiary Boards.
The Company shall take all actions necessary to provide that the structure of the Board as set forth in Sections 11.1 through 11.5 hereof
shall be implemented for any subsidiary of the Company.

 

11.11 Location of Board
meetings. The location of the meetings of the Board shall be coordinated and acceptable to the Preferred Directors.

 

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11.12 Reimbursement of
Expenses. The Company shall reimburse all non-management members of the Board (not including any observers to the board) for reasonable
expenses incurred in connection with their service on the Board, including the cost of air travel to and from meetings of the Board,
provided such expenses were approved in advance by the Company.

 

11.13 No Liability for
Election of Recommended Directors. No party, nor any Affiliate of any such party, shall have any liability as a result of designating
a person for election as a director for any act or omission by such designated person in his or her capacity as a director of the Company,
nor shall any party have any liability as a result of voting for any such designee in accordance with the provisions of this Agreement.

 

11.14 Specific Enforcement.
Each party acknowledges and agrees that each party hereto will be irreparably damaged in the event any of the provisions of this Section
11 are not performed by the parties in accordance with their specific terms or are otherwise breached. Accordingly, it is agreed that
each of the Company and the Shareholders shall be entitled to an injunction to prevent breaches of this Section 11, and to specific enforcement
of this Section 11 and its terms and provisions in any action instituted in any court of the United States or any state having subject
matter jurisdiction.

 

12. Management Fees and
Expenses.

 

12.1 Commencing at February
15, 2015, the Company will pay the Representative a monthly management fee of $5,000 plus VAT. Such engagement shall continue until the
later of (i) February 15, 2018 and (ii) such time as the Representative is no longer a director of the Company; however, shall earlier
terminate in the event that the Representative resigns from its office as a director of the Company. For the avoidance of any doubt,
termination of Representative’s office as a director due to change in number of directors appointed by the Holders of Preferred
Stock or due to election by the holders of Preferred Stock of a different director, shall not be deemed as resignation of the Representative.

 

12.2 The Company will finance
the Preferred Shareholders’ legal counsel of the choice of the Representative for every subsequent round of investment greater
than $1,000,000 or a Liquidation Event, not exceeding $5,000 plus VAT per each such round or event.

 

13. Termination. This
Agreement shall terminate immediately following the earlier to occur of the closing of a Qualified IPO, the consummation of a Transaction
or with the written consent of the Company and Preferred Shareholders holding a majority of the outstanding Preferred Stock, and also
by the Founder, solely in the event that such termination does not take place in conjunction with signing a new agreement in which the
rights and privileges of Founder (and Affiliates thereof) designated herein are not adversely affected or derogated in a manner that
is disproportionate to the rights and privileges of the Preferred Stockholders. For the purposes of this Section, a “Transaction”
shall mean the consolidation, merger or reorganization of the Company with or into, or a sale of all or substantially all of the Company’s
assets, or all or substantially all of the Company’s issued and outstanding share capital, or the license of all or substantially
all of the Company’s intellectual property rights to, any other company, or any other entity or person other than an entity controlling,
controlled by or under common control with, the Company, excluding a transaction in which shareholders of the Company prior to the transaction
maintain voting control of the resulting entity after the transaction.

 

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14. Miscellaneous

 

14.1 Further Assurances.
Each of the parties hereto shall perform such further acts and execute such further documents as may reasonably be necessary to carry
out and give full effect to the provisions of this Agreement and the intentions of the parties as reflected thereby.

 

14.2 Governing Law.
This Agreement shall be governed by the laws of the State of Delaware excluding that body of law pertaining to conflict of law. Each
of the parties hereby submits irrevocably to the exclusive jurisdiction of the competent courts located within the City of Tel-Aviv,
Israel.

 

14.3 Remedies Cumulative.
All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative.

 

14.4 Successors and Assigns;
Assignment. Except as otherwise expressly limited herein, the provisions hereof shall inure to the benefit of, and be binding upon,
the successors, assigns, heirs, executors, and administrators of the parties hereto; provided, however, that in the event
of any transfer or assignment (i) the Company must receive written notice of said transfer or assignment, stating the name and address
of said transferee or assignee and identifying the securities with respect to which such rights are being assigned, (ii) the transferee
or assignee of such rights must not be a person deemed by the Board, in its reasonable judgment, to be a current competitor of the Company,
provided, however, that if (A) such transferee or assignee is a Venture Capital Firm, or (B) if the transferor is a general
or limited partnership, and such partnership assigns or transfers to its partners or to affiliated partnerships managed by the same management
company or managing general partner or by an entity which controls, is controlled by, or is under common control with, such management
company or managing general partner, it shall not be deemed a current competitor pursuant to this Section 14.4 (for purposes of this
Section 14.4, a “Venture Capital Firm” shall be any entity formed for the purpose of acquiring or holding, for investment,
equity interests in private companies or acquiring and holding interests in one or more vehicles that hold such equity interests) and
(iii) such transferee or assignee must agree in writing to be bound by the terms and conditions of this Agreement. Notwithstanding the
limitation set forth in the foregoing sentence respecting the minimum number of shares which must be transferred, any Preferred Shareholder
(a) which is a partnership or limited liability company may transfer such Preferred Shareholder’s board appointment rights to an
Affiliate of such Holder as well as such Preferred Shareholder’s constituent partners or members, as the case may be, without restriction
as to the number or percentage of shares acquired by any such constituent partner or member and (b) may transfer such Preferred Shareholder’s
board appointment rights to an immediate family member or a trust for the benefit of the Holder. Any transfer, assignment or other disposition
of securities not made in compliance with the requirements of this Agreement shall be null and void ab initio, shall not be recorded
on the books of the Company or its transfer agent and shall not be recognized by the Company.

 

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14.5 Entire Agreement;
Amendment and Waiver. This Agreement and the Schedules hereto constitute the full and entire understanding and agreement between
the parties with regard to the subject matters hereof and thereof. Any other written or oral agreement among the parties relative to
the specific subject matter hereof is amended and restated by this Agreement. The Prior Agreement, as amended and restated by this Agreement,
hereby terminates in full the Previous IRA and Previous Voting Agreement, and all rights and claims relating thereto of all parties thereto
are hereby irrevocably waived and released, and the terms therein are hereby rendered irrevocably null and void, and of no further force
or effect. Any term of this Agreement may be amended and the observance of any term hereof may be waived (either prospectively or retroactively
and either generally or in a particular instance) only with the written consent of the Company, Preferred Shareholders holding a majority
of the outstanding Preferred Stock, and also of the Founder, solely in the event that such amendment adversely affects or derogates from
the rights and privileges of Founder (and Affiliates thereof) designated herein in a manner that is disproportionate to the amendment
made to the rights and privileges of the Preferred Stockholders. Notwithstanding the foregoing, if the Company issues additional shares
of Series Preferred Stock after the date hereof, any purchaser of such shares of Preferred Stock may become a party to this Agreement
by executing and delivering an additional counterpart signature page to this Agreement, and thereafter shall be deemed a “Preferred
Shareholder” for all purposes hereunder. No action or consent by the Preferred Shareholders shall be required for such joinder
to this Agreement by such additional holder of Preferred Stock, so long as such additional holder has agreed in writing to be bound by
all of the obligations as a “Preferred Shareholder” hereunder.

  

14.6 Notices, etc.
All notices and other communications required or permitted hereunder to be given to a party to this Agreement shall be in writing and
shall be telecopied or mailed by registered or certified mail, postage prepaid, or prepaid air courier, or otherwise delivered by hand,
internationally recognized overnight courier or by messenger, addressed to such party’s address as set forth below or at such other
address as the party shall have furnished to each other party in writing in accordance with this provision:

 

if to the Non-Voting Common Holders:
To the maximum extent allowed under applicable law, the following shall be appointed representatives of the Non-Voting Common Stock for
the purpose hereof, and delivery of notice to such representative shall be deemed a delivery of notice to the holders of Non-Voting Common
Stock:

 

	 	 	 
	 	 	 
	 	 	 

  

Otherwise, to the addresses set forth
in Schedule A

 

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if to the Preferred Shareholders:       to
the addresses set forth in Schedule B or 

Schedule C, respectively

 

if to the Founder:                              c/o Actelis Networks,
Inc.

47800 Westinghouse Drive

Freemont, CA 94539

 

if to the Representative: to the address
set forth in Schedule B.

 

if to the Company:                            Actelis Networks,
Inc.

47800 Westinghouse Drive

Fremont, CA 94539 Attn: Tuvia Barlev, CEO

 

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

 

Pearl Cohen Zedek Latzer Baratz LLP

50 Congress Street, Suite 1040

Boston, MA 02109

Attn: Oded Kadosh, Esq.

 

or such other address with respect to a party
as such party shall notify each other party in writing as above provided. Any notice sent in accordance with this Section 14.6 shall
be effective (i) if mailed, seven (7) business days after mailing, (ii) if by air courier, two (2) business days after deliver to the
courier service, (iii) if sent by internationally recognized overnight courier, one business day after deposit with such courier if sender
and recipient are in the same country, otherwise notice shall be effective three (3) business days after deposit with such courier, (iv)
if sent via facsimile or electronic mail, upon transmission and electronic confirmation of receipt or if transmitted and received on
a non-business day, on the first business day following transmission and electronic confirmation of receipt, and, (v) if sent by messenger,
upon delivery (provided, however, that any notice of change of address shall only be valid upon actual receipt by the party to be charged
with knowledge of same).

 

14.7 Delays or Omissions.
No delay or omission to exercise any right, power, or remedy accruing to any party upon any breach or default under this Agreement, shall
impair any such right, power, or remedy of such non-breaching or non-defaulting party nor shall it be deemed a waiver of any other breach
or default theretofore or thereafter occurring. Any waiver, permit, consent, or approval of any kind or character on the part of any
party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement,
must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this
Agreement or by law or otherwise afforded to any of the parties, shall be cumulative and not alternative.

 

14.8 Severability.
If any provision of this Agreement is held by a court of competent jurisdiction to be unenforceable under applicable law, then such provision
shall be excluded from this Agreement and the remainder of this Agreement shall be interpreted as if such provision were so excluded
and shall be enforceable in accordance with its terms; provided, however, that in such event this Agreement shall be interpreted so as
to give effect, to the greatest extent consistent with and permitted by applicable law, to the meaning and intention of the excluded
provision as determined by such court of competent jurisdiction.

  

14.9 Counterparts.
This Agreement may be executed and delivered by facsimile signature and in any number of counterparts, each of which shall be deemed
an original and enforceable against the parties actually executing such counterpart, and all of which together shall constitute one and
the same instrument.

 

14.10 Aggregation of Stock.
All Preferred Stock held or acquired (or Common Stock issuable upon conversion thereof) by affiliated entities shall be aggregated together
for the purpose of determining the availability of any rights under this Agreement.

 

14.11 Titles and Subtitles.
The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting
this Agreement.

 

[Remainder of page intentionally left blank.]

 

    23

     

    

 

[SIGNATURE PAGE TO ACTELIS
NETWORKS

STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	THE COMPANY:	 
	 	 	 
	ACTELIS NETWORKS, INC.	 
	 	 	 
	By:		 
	 	 	 
	Name:  	Tuvia Barlev	 
	 	 	 
	Date:	Chief Executive Officer	 

  

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

    COMMON HOLDERS
	 
	 	 
	TUVIA BARLEY	 
	 	 
	 	 
	 	 
	RAMVROMEN	 
	 	 
	 	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	 

    COMMON HOLDERS
	 
	 	 
	TUVIA BARLEY	 
	 	 
	 	 
	RAMVROMEN	 
	 	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

    PREFERRED
    SHAREHOLDERS
	 
	 	 
	RAM VROMEN	 
	 	 
	 	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

    PREFERRED
    SHAREHOLDERS
	 
	 	 
	GIGI LEVY-WEISS	 
	 	 
	 	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

PREFERRED SHAREHOLDERS

	 
	 	 	 
	KEDMA CAPITAL S.H.E. LTD.	 
	 	 	 
	By:	                    	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:	Gilead Halevy	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

    PREFERRED
    SHAREHOLDERS
	 
	 	 
	YARIV GILAT	 
	 	 
	 	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

PREFERRED SHAREHOLDERS

	 
	 	 	 
	THE RODA GROUP VENTURE DEVELOPMENT COMPANY, LLC
	 	 	 
	By:	                    	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:		 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

PREFERRED SHAREHOLDERS

	 
	 	 	 
	Advanced Circuit Engineers, LLC	 
	 	 	 
	By:	                    	 
	 	 	 
	Name:	Rajesh Jain	 
	 	 	 
	Title:	Owner/Partner	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

PREFERRED SHAREHOLDERS

	 	 
	 	 	 	 
	Amit J.  Ronen
    and Talya Ronen as trustees of the Ronen Family Trust U/T/A/D 12/21/05	 
	 	 	 	 
	By:	                    	 	 
	 	 	 	 
	Name:	Amit
    J.  Ronen	 	 
	 	 	 	 
	Title:	Trustee	 	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

PREFERRED SHAREHOLDERS

	 
	 	 	 
		 
	 	 	 
	By:	                    	 
	 	 	 
	Name:		 
	 	 	 
	Title:		 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties
have signed this Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

    PREFERRED SHAREHOLDERS
	 
	 	 
	ARIK STEINBERG	 
	 	 
	 	 

 

     

     

    

 

IN WITNESS WHEREOF, the undersigned
has executed this Notice, Acknowledgment and Waiver as of the date below.

 

	

    Dated:
	 	 	By:	   
	 	 	 	(signature)   
	 	 	 	Title (if an entity):
	 	 	 	 
	 	 	 	Address:
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

	 	E-mail:	 
	 	 	 
	 	Facsimile:	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties
have signed this Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

PREFERRED SHAREHOLDERS

	 
	 	 	 
	[NAME]	 
	 	 	 
	By:	                      	 

 

	Name:	 	 
	 	 	 
	Title:	 	 
	 	 	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

    PREFERRED SHAREHOLDERS
	 
	 	 
	CARMEL
    VERNIA	 
	 	 
	 	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

    PREFERRED SHAREHOLDERS
	 
	 	 
	JOSEPH
    PERL AND JUDITH PERL	 
	 	 
	 	 
	 	 
	 	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

PREFERRED SHAREHOLDERS

	 
	 	 	 
	 	 
	 	 	 
	By:	                    	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:	 	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

PREFERRED SHAREHOLDERS

	 
	 	 	 
	 	 
	 	 	 
	By:	                    	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:	 	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

PREFERRED
SHAREHOLDERS

	 
	 	 	 
	PALADIN LTD.	 
	 	 	 
	By:	                    	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:	 	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

PREFERRED
SHAREHOLDERS

	 
	 	 	 
	BAUHINIA INVESTMENTS
    LTD.	 
	 	 	 
	By:	                    	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:	 	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

    PREFERRED SHAREHOLDERS
	 
	 	 
	RAMI
    LIPMAN	 
	 	 
	 	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

PREFERRED SHAREHOLDERS

	 
	 	 	 
	 	 
	 	 	 
	By:	                    	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:	 	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

PREFERRED SHAREHOLDERS

	 
	 	 	 
	 	 
	 	 	 
	By:	                    	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:	 	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

PREFERRED SHAREHOLDERS

	 
	 	 	 
	 	 
	 	 	 
	By:	                    	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:	 	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

PREFERRED SHAREHOLDERS

 

THE ISARD DUNIETZ 2006 TRUST, CREATED BY A DECLARATION OF TRUST DATED JULY 19, 2006, AS IT MAY BE AMENDED OR RESTATED FROM TIME TO TlME THEREAFTER

 

	By:	 	 
	 	 
	Name: 	Isard
    Dunietz (or his successor)	 
	 	 
	Title:	Trustee	 

 

     

     

    

 

[SIGNATURE PAGE TO ACTELIS NETWORKS

AMEDNED AND RESTATED STOCKHOLDERS AGREEMENT]

 

IN WITNESS WHEREOF the parties have signed this
Amended and Restated Shareholders Agreement as of the date first hereinabove set forth.

 

	

PREFERRED
SHAREHOLDERS

	 
	 	 	 
	YEMINI ASSET MANAGEMENT
    LLC	 
	 	 	 
	By:	                    	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:	 	 

 

     

     

    

 

SCHEDULE A

 

The Non-Voting Common Holders

 

	

    Name
	Address
	 	 
	 	 

 

     

     

    

 

SCHEDULE B

 

The Preferred A Shareholders

 

	

    NAME
	ADDRESS
	ATA
    Affiliates Fund I, L.P.	 
	ATA
    Affiliates Fund II, L.P.	 
	ATA
    Investment Fund I, L.P.	 
	ATA
    Investment Fund II, L.P.	 
	ATA
    Ventures I, L.P.	 
	ATA
    Ventures II, L.P.	 
	Yariv
    Gilat	9
    Hagolan Street

    Tel Aviv, 6971812 Israel
	Isard
    Dunietz (or his successor),

    as Trustee of the Isard Dunietz

    2006 Trust, created by a

    Declaration of Trust dated July

    19, 2006 as it may be amended or restated from time to time thereafter	 
	Rami
    Lipman	 
	Arik
    Steinberg	8
    Yiftach Street, Entrance B

    Ramat Hasharon 471082, Israel
	Yemini
    Asset Management LLC	 
	Joseph
    Perl and Judith Perl	 
	Zeev
    Bregman	Kfar
    Saba 3

    Tel Aviv 65147
	Carmel
    Vernia	36
    Benayahu

    Tel Aviv, Israel
	Bauhinia
    Investments Ltd.	c/o
    Excaliber Capital

    11 Menachem Begin Road

    Ramat Gan 52522, Israel
	The
    Niv Family Trust - January 18, 2002	27240
    Natoma Road

    Los Altos Hills, CA 94022
	Alan
    Barkat	 
	Kedma
    Capital S.H.E.  Ltd.	Azrieli
    Center, Round Tower

    132 Menachem Begin Blvd.,

    Tel Aviv 67021
	Ram
    Vromen	 
	Reinisch
    Investments & Holdings Ltd.	Excaliber
    Capital Ltd

    Attention – Jennifer Kessler

    11 Derech Menahem Begin, 11th floor

    Ramat Gan 5268104
	Paladin
    Ltd.	Excaliber Capital Ltd

    Attention – Jennifer Kessler

    11 Derech Menahem Begin, 11th floor

    Ramat Gan 5268104

     

	The
    Schwartz Family Trust	 
	The
    Roda Group Venture

    Development Company, LLC	918
    Parker Street, Suite A-14

    Berkley, CA 94710
	Gigi
    Levy-Weiss	 

 

     

     

    

 

SCHEDULE C

 

The Preferred B Shareholders

 

	

    NAME
	ADDRESS
	Ram
    Vromen	6
    Reading Street

    Tel Aviv, 69022 Israel
	Yariv
    Gilat	9
    Hagolan Street

    Tel Aviv, 6971812 Israel
	Isard
    Dunietz (or his successor), as Trustee of the Isard Dunietz 2006 Trust, created by a Declaration of Trust dated July 19, 2006 as
    it may be amended or restated from time to time thereafter	 
	Rami
    Lipman	 
	Arik
    Steinberg	8
    Yiftach Street, Entrance B

    Ramat Hasharon 471082, Israel
	Yemini
    Asset Management LLC	 
	Carmel
    Vernia	36
    Benayahu

    Tel Aviv, Israel
	Bauhinia
    Investments Ltd.	c/o
    Excaliber Capital

    11 Menachem Begin Road

    Ramat Gan 52522, Israel
	The
    Niv Family Trust - January 18, 2002	27240
    Natoma Road

    Los Altos Hills, CA 94022
	Kedma
    Capital S.H.E.  Ltd.	Azrieli
    Center, Round Tower

    132 Menachem Begin Blvd.,

    Tel Aviv 67021
	Reinisch
    Investments & Holdings Ltd.	Excaliber
    Capital Ltd

    Attention – Jennifer Kessler

    11 Derech Menahem Begin, 11th floor

    Ramat Gan 5268104
	Paladin
    Ltd.	Excaliber
    Capital Ltd

    Attention – Jennifer Kessler

    11 Derech Menahem Begin, 11th floor

    Ramat Gan 5268104
	Zeev
    Bregman	Kfar
    Saba 3

    Tel Aviv 65147
	Roger
    Nicholson	34742
    Williams Way

    Union City, CA 94587
	Ronen
    Family Trust U/T/A/D 12/21/05	C/O
    Amit Ronen, Trustee

    1415 Todd Street

    Mountain View, CA 94040
	Tameyasu
    Anayama	 
	The
    Beinglass Revocable Trust, August 2000	1330
    Elsona Ct

    Sunnyvale, CA 94087
	Saurabh
    Argwal	36928
    Montecito Drive

    Fremont, CA 94536
	Ketan
    J.  Shah	10162
    Firwood Drive

    Cupertino, CA 95014
	Advanced
    Circuit Engineers, LLC	C/O
    Rajesh Jain

    308 S. Abott Avenue

    Milpitas, CA 95035

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