Document:

EX-4.3

 Exhibit 4.3 

INTERCREDITOR AGREEMENT 
 by and
between 
 BANK OF AMERICA, N.A., 

as ABL Agent, 
 and 

U.S. BANK, NATIONAL ASSOCIATION, 

as Trustee 
 Dated as of
December 20, 2012 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page No.	 
	 I. DEFINITIONS
	  	 	2	  
			
	 1.1.
	 	Defined Terms	  	 	2	  
	 1.2.
	 	Terms Generally	  	 	14	  
		
	 II. LIEN PRIORITIES
	  	 	15	  
			
	 2.1.
	 	Relative Priorities	  	 	15	  
	 2.2.
	 	Prohibition on Contesting Liens	  	 	15	  
	 2.3.
	 	No New Liens	  	 	16	  
	 2.4.
	 	Similar Liens and Agreements	  	 	16	  
		
	 III. EXERCISE OF REMEDIES; ENFORCEMENT
	  	 	17	  
			
	 3.1.
	 	Restrictions on the Notes Agent and the Note Claimholders	  	 	17	  
	 3.2.
	 	Restrictions on the ABL Agent and ABL Claimholders	  	 	20	  
	 3.3.
	 	Collateral Access Rights	  	 	24	  
	 3.4.
	 	Reserved	  	 	26	  
	 3.5.
	 	Set-Off and Tracing of and Priorities in Proceeds	  	 	26	  
		
	 IV. PAYMENTS
	  	 	27	  
			
	 4.1.
	 	Application of Proceeds	  	 	27	  
	 4.2.
	 	Payments Over in Violation of Agreement	  	 	27	  
	 4.3.
	 	Application of Payments	  	 	28	  
	 4.4.
	 	Revolving Nature of ABL Obligations	  	 	28	  
		
	 V. OTHER AGREEMENTS
	  	 	28	  
			
	 5.1.
	 	Releases	  	 	28	  
	 5.2.
	 	Insurance	  	 	29	  
	 5.3.
	 	Amendments to ABL Loan Documents and Note Documents; Refinancing	  	 	30	  
	 5.4.
	 	Bailees for Perfection	  	 	32	  
		
	 VI. INSOLVENCY OR LIQUIDATION PROCEEDINGS
	  	 	33	  
			
	 6.1.
	 	Finance and Sale Issues	  	 	33	  
	 6.2.
	 	Relief from the Automatic Stay	  	 	34	  
	 6.3.
	 	Adequate Protection	  	 	35	  
	 6.4.
	 	Avoidance Issues	  	 	37	  
	 6.5.
	 	Reorganization Securities	  	 	37	  
	 6.6.
	 	Post-Petition Interest	  	 	37	  
	 6.7.
	 	Separate Grants of Security and Separate Classification	  	 	38	  
	 6.8.
	 	Asset Dispositions in an Insolvency or Liquidation Proceeding	  	 	39	  
		
	 VII. RELIANCE; WAIVERS; ETC.
	  	 	39	  
			
	 7.1.
	 	Reliance	  	 	39	  
	 7.2.
	 	No Warranties or Liability	  	 	40	  
	 7.3.
	 	No Waiver of Lien Priorities	  	 	40	  
	 7.4.
	 	Obligations Unconditional	  	 	41	  

  
 i 

							
	 VIII. MISCELLANEOUS
	  	 	42	  
			
	 8.1.
	 	Conflicts	  	 	42	  
	 8.2.
	 	Effectiveness; Continuing Nature of this Agreement; Severability	  	 	42	  
	 8.3.
	 	Amendments; Waivers	  	 	43	  
	 8.4.
	 	Information Concerning Financial Condition of the Issuers and Their Subsidiaries	  	 	43	  
	 8.5.
	 	Subrogation	  	 	43	  
	 8.6.
	 	SUBMISSION TO JURISDICTION; WAIVERS	  	 	44	  
	 8.7.
	 	Notices	  	 	45	  
	 8.8.
	 	Further Assurances	  	 	45	  
	 8.9.
	 	APPLICABLE LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK	  	 	46	  
	 8.10.
	 	Specific Performance	  	 	46	  
	 8.11.
	 	Headings	  	 	46	  
	 8.12.
	 	Counterparts	  	 	46	  
	 8.13.
	 	Authorization	  	 	46	  
	 8.14.
	 	Provisions Solely to Define Relative Rights	  	 	47	  
	 8.15.
	 	Marshalling of Assets	  	 	47	  
	 8.16.
	 	Exclusive Means of Exercising Rights under this Agreement	  	 	47	  
	 8.17.
	 	Interpretation	  	 	48	  
	 8.18.
	 	Capacity of Notes Agent	  	 	48	  
	 8.19.
	 	Termination	  	 	48	  

  
 ii 

 INTERCREDITOR AGREEMENT 

This INTERCREDITOR AGREEMENT (this “Agreement”) is dated as of December 20, 2012, and entered into by and
between Bank of America, N.A., in its capacity as agent under the ABL Credit Agreement, including its successors and assigns from time to time (the “Initial ABL Agent”), and U.S. Bank National Association, as Trustee (the
“Trustee”), not in its individual capacity, but solely in its capacity as trustee and collateral agent under the Indenture and (as the case may be) as collateral agent for and representative hereunder of the holders of the
Additional Pari Passu Notes Obligations, including in each case its successors and assigns from time to time (in such capacities, the “Notes Agent”) and is acknowledged by Tops Holding Corporation, a Delaware corporation (the
“Company”), Tops Markets, LLC, a New York limited liability company (“Tops Markets” and, together with the Company, the “Issuers”) and the subsidiaries of the Company listed on the signature pages
hereof (together with any subsidiary that becomes a party hereto after the date hereof, each a “Company Subsidiary”, and, collectively, the “Company Subsidiaries”). Capitalized terms used in this Agreement have the
meanings assigned to them in Article 1. 
 RECITALS 

The Issuers, the Company Subsidiaries, the ABL Lenders, and the Initial ABL Agent have entered into that certain senior secured asset based
revolving credit facility, dated as of December 14, 2012 (as amended, restated, supplemented, modified, replaced, or refinanced from time to time, the “Initial ABL Credit Agreement”); 

The Issuers have issued, or will issue 8.875% senior secured notes due 2017 in a principal amount of $460,000,000 (the “Initial
Notes”) under an indenture, dated as of December 20, 2012 (as amended, restated, supplemented, modified, replaced, or refinanced from time to time, the “Indenture”) among the Issuers, each Company Subsidiary, the
Trustee and Notes Agent; 
 The Issuers may from time to time following the date hereof issue Additional Pari Passu Notes Obligations to the
extent permitted by the ABL Credit Agreement and the Indenture; and 
 In order to induce the ABL Agent and the ABL Lenders to consent to
the Grantors incurring the Note Obligations and granting the Liens to the Notes Agent and in order to induce the Notes Agent and the Noteholders to consent to the Grantors incurring the ABL Obligations and granting the Liens to the ABL Agent, the
ABL Agent, on behalf of the ABL Lenders, and the Notes Agent, on behalf of the Noteholders, have agreed to the relative priority of their respective Liens on the Collateral and certain other rights, priorities and interests as set forth in this
Agreement. 
 AGREEMENT 

In consideration of the foregoing, the mutual covenants and obligations herein set forth and for other good and valuable consideration, the
sufficiency and receipt of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 

  
 1 

 I. 

DEFINITIONS. 

1.1. Defined Terms. 
 As used in
this Agreement, the following terms shall have the following meanings: 
 “ABL Agent” means the Initial ABL Agent and any
successor or other agent under any ABL Credit Agreement. 
 “ABL Claimholders” means, at any relevant time, the holders of
ABL Obligations at that time, including, without limitation, the ABL Lenders and the ABL Agent under the ABL Credit Agreement and the Bank Product Providers. 

“ABL Collateral” means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which
a Lien is granted as security for any ABL Obligations. 
 “ABL Credit Agreement” means collectively, (a) the Initial
ABL Credit Agreement and (b) any other credit agreement or credit agreements, one or more debt facilities, and/or commercial paper facilities, in each case, with banks or other lenders providing for revolving credit loans, term loans,
receivables financing (including through the sale of receivables to such lenders or to special purpose entities formed to borrow from (or sell such receivables to) such lenders), letters of credit, bankers’ acceptances, or other borrowings,
that have been incurred to increase, replace (whether upon or after termination or otherwise), refinance or refund in whole or in part from time to time the Obligations outstanding under the Initial ABL Credit Agreement or any other agreement or
instrument referred to in this clause, whether or not such increase, replacement, refinancing or refunding occurs (i) with the original parties thereto, (ii) on one or more separate occasions or (iii) simultaneously or not with the
termination or repayment of the Initial ABL Credit Agreement or any other agreement or instrument referred to in this clause, unless such agreement or instrument expressly provides that it is not intended to be and is not an ABL Credit Agreement, as
each may be amended, restated, supplemented, modified, renewed, extended or Refinanced from time to time in accordance with the provisions of this Agreement. Any reference to the ABL Credit Agreement hereunder shall be deemed a reference to any ABL
Credit Agreement then in existence. 
 “ABL Default” means an “Event of Default” (as defined in the ABL Credit
Agreement). 
 “ABL Lenders” means the “Lenders” under and as defined in the ABL Credit Agreement or any other
Person which extends credit under the ABL Credit Agreement. 
 “ABL Loan Documents” means the ABL Credit Agreement and the
“Loan Documents” (as defined in the ABL Credit Agreement), including Bank Products, and each of the other agreements, documents and instruments executed pursuant thereto, and any other document or instrument executed or delivered at any
time in connection with the ABL Credit Agreement or any Bank Products, including any intercreditor or joinder agreement among holders of ABL Obligations, to the extent such are effective at the relevant time, as each may be amended, restated,
supplemented, modified, renewed, extended or Refinanced from time to time in accordance with the provisions of this Agreement. 

  
 -2- 

 “ABL Mortgages” means a collective reference to each mortgage, deed of trust and
other document or instrument under which any Lien on real property owned or leased by any Grantor is granted to secure any ABL Obligations or under which rights or remedies with respect to any such Liens are governed. 

“ABL Obligations” means all Obligations outstanding under the ABL Credit Agreement and the other ABL Loan Documents,
including any Bank Products. “ABL Obligations” shall include all interest, fees and expenses accrued or accruing (or which would, absent commencement of an Insolvency or Liquidation Proceeding, accrue) after commencement of an Insolvency
or Liquidation Proceeding (with respect to interest and fees, at the rate specified in the relevant ABL Loan Document), whether or not the claim for such interest, fee or expense is allowed as a claim in such Insolvency or Liquidation Proceeding.

 “ABL Priority Collateral” means all now-owned or hereafter acquired ABL Collateral that constitutes: 

(a) all Accounts and Credit Card Receivables, other than Accounts or Credit Card Receivables which constitute identifiable Proceeds which arise
from the sale, license, assignment or other disposition of Notes Priority Collateral; 
 (b) all Chattel Paper, other than Chattel Paper
which constitutes identifiable Proceeds of Notes Priority Collateral; 
 (c) all (x) Deposit Accounts (other than the Notes Collateral
Account and Notes Trust Monies) and money and all cash, checks, other negotiable instruments, funds and other evidences of payments held therein (other than the Notes Collateral Account and Notes Trust Monies), and (y) Securities Accounts and
Security Entitlements and securities credited thereto (other than the Notes Collateral Account and Notes Trust Monies), and, in each case, all cash, checks and other property held therein or credited thereto (other than the Notes Collateral Account
and Notes Trust Monies); 
 (d) all Inventory; 

(e) all Prescription Lists; 
 (f)
to the extent relating to, evidencing or governing any of the items referred to in the preceding clauses (a) through (e) of this definition, all Documents, General Intangibles (other than Intellectual Property except as set forth in clause
(e) above), Instruments (including promissory notes) and Commercial Tort Claims; 
 (g) to the extent relating to any of the items
referred to in the preceding clauses (a) through (f) above, all Supporting Obligations and Letter of Credit Rights; 
 (h) all
books and records relating to the items referred to in the preceding clauses (a) through (g) above (including all books, databases, customer lists, and records, whether tangible or electronic, which contain any information relating to any
of the items referred to in the preceding clauses (a) through (g)); and 
 (i) subject to Section 3.5, all Proceeds of any of the
foregoing, including collateral security and guarantees with respect to any of the foregoing and all cash, Money, insurance proceeds, Instruments, Securities, Financial Assets and Deposit Accounts constituting Proceeds of the foregoing. 

  
 -3- 

 “ABL Security Documents” means any agreement, document or instrument pursuant to
which a Lien is granted securing any ABL Obligations or under which rights or remedies with respect to such Liens are governed. 

“ABL Standstill Period” has the meaning set forth in Section 3.2(a)(i). 

“Access Period” means with respect to any Notes Priority Collateral, the period, after the commencement of an Enforcement
Period by the ABL Agent, which begins on the earlier of (a) the day on which the ABL Agent provides the Notes Agent with the written notice of its election to request access pursuant to Section 3.3(b) and (b) the tenth Business
Day after the Notes Agent provides the ABL Agent with notice that the Notes Agent (or its agent) has obtained possession or control of such Notes Priority Collateral and ends on the earliest of (i) the 270th day after the date (the
“Initial Access Date”) on which the ABL Agent, or its designee, initially obtains the ability to take physical possession of, remove, or otherwise control physical access to, or actually uses, the ABL Priority Collateral associated
with or located on such Notes Priority Collateral plus such number of days, if any, after the Initial Access Date that it is stayed or otherwise prohibited by law or court order from exercising remedies with respect to ABL Priority Collateral
associated with or located on such Notes Priority Collateral, and (ii) the termination of such Enforcement Period. 
 “Account
Agreements” means any lockbox account agreement, pledged account agreement, blocked account agreement, securities account control agreement, or any similar deposit or securities account agreements among the Notes Agent and/or the ABL Agent,
one or more Grantors and the relevant financial institution depository or securities intermediary. 
 “Accounts” means all
now present and future “accounts” (as defined in Article 9 of the UCC). 
 “Additional Pari Passu Notes Agent”
means the Person appointed to act as trustee, agent or representative for the holders of Additional Pari Passu Notes Obligations pursuant to any Additional Pari Passu Notes Agreement, it being understood and agreed that no Additional Pari Passu
Notes Agent (if other than the Notes Agent) shall hold any Lien on Collateral. 
 “Additional Pari Passu Notes Agreement”
means the indenture, credit agreement or other agreement under which any Additional Pari Passu Notes Obligations are incurred. 

“Additional Pari Passu Notes Obligations” means Indebtedness of the Grantors issued following the date of this Agreement to
the extent (a) such Indebtedness is permitted by the terms of the ABL Credit Agreement to be secured by Liens on the Collateral ranking pari passu with the Liens securing the Note Obligations and constitutes Permitted Additional Pari
Passu Obligations (as defined in the Indenture as in effect on the date hereof), (b) the Grantors have granted Liens on the Collateral to secure the obligations in respect of such Indebtedness, and (c) the Additional Pari Passu Notes
Agent, for the holders of such Indebtedness has executed a joinder agreement to the Note Security Agreement in the form attached thereto (or other form reasonably satisfactory to the Notes Agent) agreeing on behalf of itself and such holders to
(i) be 

  
 -4- 

 
bound by the terms of this Agreement applicable to them, (ii) appoint the Notes Agent to act as their collateral agent and representative hereunder and (iii) agree to be bound by the
pari passu intercreditor provisions contained in the Note Security Documents entered into in connection with the Indenture (which provisions are binding on the Note Claimholders only). 

“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. For purposes of this definition, a Person shall be deemed to “control” or be “controlled by” a Person if such Person
possesses, directly or indirectly, power to direct or cause the direction of the management or policies of such Person whether through ownership of equity interests, by contract or otherwise. 

“Agents” means the ABL Agent and the Notes Agent. 

“Agreement” means this Intercreditor Agreement, as amended, restated, renewed, extended, supplemented or otherwise modified
from time to time. 
 “Bank Product Debt” means Indebtedness and other Obligations relating to Bank Products. 

“Bank Product Provider” shall mean any ABL Lender or Affiliate of an ABL Lender that provides any Bank Products to any
Grantor. 
 “Bank Products” means “Hedging Obligations” and “Cash Management Services” as each such
term is defined in the Indenture. 
 “Bankruptcy Code” means Title 11 of the United States Code entitled
“Bankruptcy,” as now and hereafter in effect, or any successor statute. 
 “Bankruptcy Law” means the Bankruptcy
Code and any similar federal, state or foreign law for the relief of debtors. 
 “Business Day” means a day that is a
“Business Day” under both the Indenture and the ABL Credit Agreement. 
 “Capital Stock” means (a) in the
case of a corporation, capital stock, (b) in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of capital stock, (c) in the case of a partnership,
partnership interests (whether general or limited), (d) in the case of a limited liability company, membership interests and (e) any other interest or participation that confers on a Person the right to receive a share of the profits and
losses of, or distributions of assets of, the issuing Person and all rights, warrants or options exchangeable for or convertible into any of the items described in clauses (a) through (e) above; provided that with respect to the
foregoing, Capital Stock shall exclude any debt securities convertible into Capital Stock, whether or not such debt securities include any right of vote or participation with Capital Stock. 

“Chattel Paper” means all present and future “chattel paper” (as defined in Article 9 of the UCC). 

  
 -5- 

 “Claimholder” means any Note Claimholder or ABL Claimholder, as applicable. 

“Collateral” means any and all of the assets and property of any Grantor, whether real, personal or mixed, which constitute
ABL Collateral or Notes Collateral. 
 “Commercial Tort Claims” means all present and future “commercial tort
claims” (as defined in Article 9 of the UCC). 
 “Company” has the meaning assigned to that term in the Preamble to
this Agreement. 
 “Company Subsidiary” has the meaning assigned to that term in the Preamble to this Agreement. 

“Conforming Plan of Reorganization” means any Plan of Reorganization whose provisions are consistent with the provisions of
this Agreement. 
 “Credit Card Receivables” has the meaning set forth in the ABL Credit Agreement. 

“Deposit Accounts” means all present and future “deposit accounts” (as defined in Article 9 of the UCC). 

“DIP Financing” has the meaning assigned to that term in Section 6.1. 

“Discharge of ABL Obligations” means: 

(a) payment in full in cash of all ABL Obligations (other than contingent obligations or contingent indemnification obligations except as
provided in clause (e) below and other than ABL Obligations constituting Bank Product Debt except as provided in clause (d) below); 

(b) termination or expiration of all commitments, if any, to extend credit under the ABL Loan Documents; 

(c) termination, cash collateralization (in an amount and manner reasonably satisfactory to the ABL Agent, but in no event greater than 105% of
the aggregate undrawn face amount, plus commissions, fees, and expenses) or backstop of all letters of credit issued under the ABL Credit Agreement in compliance with the terms of the ABL Credit Agreement; 

(d) the provision of credit support (which may include cash collateralization or support by a letter of credit therefor) for any ABL
Obligations constituting Bank Product Debt (in an amount and manner and, if other than pursuant to cash collateralization, of a kind reasonably satisfactory to the providers of such Bank Product Debt); and 

(e) the provision of credit support (which may include cash collateralization or support by a letter of credit) for any costs, expenses and
contingent indemnification obligations consisting of ABL Obligations not yet due and payable but with respect to which a claim has been threatened or asserted under any ABL Loan Documents (in an amount and manner and, if other than pursuant to cash
collateralization, of a kind reasonably satisfactory to the ABL Agent). 

  
 -6- 

 “Discharge of Note Obligations” means payment in full in cash of (a) all
Note Obligations, satisfaction and discharge of the Indenture and any Additional Pari Passu Notes Agreement or legal or covenant defeasance of the Indenture and any Additional Pari Passu Notes Agreement (other than contingent obligations or
contingent indemnification obligations (except as provided in clause (b) hereof, and obligations that expressly survive such satisfaction and discharge or legal or covenant defeasance), and (b) the provision of credit support (which may
include cash collateralization or support by a letter of credit) for any costs, expenses and contingent indemnification obligations consisting of Note Obligations not yet due and payable but with respect to which a claim has been threatened or
asserted under any Note Documents (in an amount and manner and, if other than pursuant to cash collateralization, of a kind reasonably satisfactory to the Notes Agent). 

“Disposition” means any sale, lease, exchange, transfer or other disposition of any Collateral. 

“Documents” means all present and future “documents” (as defined in Article 9 of the UCC. 

“Enforcement” means, collectively or individually for one or both of the ABL Agent and the Notes Agent, when an ABL Default
or Note Default, as applicable, has occurred and is continuing, to enforce or attempt to enforce any right or power to repossess, replevy, attach, garnish, levy upon, collect the Proceeds of, foreclose or realize in any manner whatsoever its Lien
upon, sell, liquidate or otherwise dispose of, or otherwise restrict or interfere with the use of, or exercise any remedies with respect to, or conduct any Going Out of Business Sale with respect to, any material amount of Collateral, whether by
judicial enforcement of any of the rights and remedies under the ABL Loan Documents, the Note Documents and/or under any applicable law, by self-help repossession, by non-judicial foreclosure sale, lease, or other disposition, by set-off, by
notification to account obligors of any Grantor, by any sale, lease, or other disposition implemented by any Grantor following an ABL Default or a Note Default, as applicable, in connection with which the ABL Agent or the Notes Agent, as applicable,
has agreed to release its Liens on the subject property, or otherwise, but in all cases excluding (i) the establishment of borrowing base reserves, collateral ineligibles, or other conditions for advances, (ii) the changing of advance
rates or advance sublimits, (iii) the imposition of a default rate or late fee, (iv) the collection and application of Accounts or other monies deposited from time to time in Deposit Accounts or Securities Accounts, in each case, to the
extent constituting ABL Priority Collateral, against the ABL Obligations pursuant to the provisions of the ABL Loan Documents (including, without limitation, the notification of account debtors, depositary institutions or any other Person to deliver
proceeds of Collateral to the ABL Agent or any “cash dominion event” or mandatory prepayment event under the ABL Loan Documents), (v) the cessation of lending pursuant to the provisions of the ABL Loan Documents, including upon the
occurrence of a default on the existence of an over-advance, (vi) the filing of a proof of claim in any Insolvency or Liquidation Proceeding, (vii) the consent by the ABL Agent to disposition by any Grantor of any of the ABL Priority
Collateral (other than a Going Out of Business Sale), and (viii) the acceleration of the Notes Obligations or the ABL Obligations. 

“Enforcement Notice” means a written notice delivered, at a time when an ABL Default or Note Default has occurred and is
continuing, by either the ABL Agent or the Notes Agent to the other announcing that an Enforcement Period has commenced, specifying the relevant event of default, stating the current balance of the ABL Obligations or the Note Obligations, as
applicable, and requesting the current balance of the ABL Obligations or Note Obligations, as applicable, owing to the noticed party. 

  
 -7- 

 “Enforcement Period” means the period of time following the receipt by either
the ABL Agent or the Notes Agent of an Enforcement Notice from the other until the earliest of (a) in the case of an Enforcement Period commenced by the Notes Agent, the Discharge of Note Obligations, (b) in the case of an Enforcement
Period commenced by the ABL Agent, the Discharge of ABL Obligations, (c) the ABL Agent or the Notes Agent (as applicable) agreeing in writing to terminate the Enforcement Period, or (d) the date on which the ABL Default or the Note Default
that was the subject of the Enforcement Notice relating to such Enforcement Period has been cured to the satisfaction of the ABL Agent or the Notes Agent, as applicable, or waived in writing. 

“Equipment” means, as to each Grantor, all of such Grantor’s now owned and hereafter acquired equipment, as defined in
Article 9 of the UCC. 
 “Financial Assets” means all present and future “financial assets” (as defined in
Article 9 of the UCC). 
 “General Intangibles” means all present and future “general intangibles” (as defined in
Article 9 of the UCC). 
 “Going Out of Business Sale” means, following the occurrence and during the continuance of any
ABL Default, any sale or liquidation of the ABL Priority Collateral consented to by the ABL Agent for purposes of permitting the Grantors to obtain funds to permanently repay the ABL Obligations in whole or in part. 

“Governmental Authority” means any federal, state, municipal, national or other government, governmental department,
commission, board, bureau, court, agency or instrumentality or political subdivision thereof or any entity or officer exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to any government or any
court, in each case whether associated with a state of the United States, the United States, or a foreign entity or government. 

“Grantors” means the Issuers, each Company Subsidiary and each other Person that has or may from time to time hereafter
execute and deliver an ABL Security Document or a Note Security Document as a grantor of a security interest (or the equivalent thereof). 

“Indebtedness” means and includes all Obligations that constitute “Debt,” “Indebtedness,”
“Obligations,” “Liabilities” or any similar term within the meaning of the ABL Credit Agreement or the Indenture, as applicable. 

“Indenture” has the meaning assigned to that term in the Recitals to this Agreement. 

“Initial ABL Credit Agreement” has the meaning assigned to that term in the Recitals. 

“Initial Access Date” has the meaning assigned to that term in the definition of the term “Access Period.” 

  
 -8- 

 “Initial Notes” has the meaning assigned to that term in the Recitals. 

“Insolvency or Liquidation Proceeding” means: 

(a) any voluntary or involuntary case or proceeding under the Bankruptcy Code with respect to any Grantor; 

(b) any other voluntary or involuntary insolvency, reorganization or bankruptcy case or proceeding, or any receivership, liquidation,
reorganization or other similar case or proceeding with respect to any Grantor or with respect to a material portion of their respective assets; 

(c) any composition of liabilities or similar arrangement relating to any Grantor, whether or not under a court’s jurisdiction or
supervision; 
 (d) any liquidation, dissolution, reorganization or winding up of any Grantor, whether voluntary or involuntary, whether or
not under a court’s jurisdiction or supervision, and whether or not involving insolvency or bankruptcy; or 
 (e) any general assignment
for the benefit of creditors or any other marshalling of assets and liabilities of any Grantor. 
 “Instruments” means all
present and future “instruments” (as defined in Article 9 of the UCC). 
 “Intellectual Property” means, all of
the following in any jurisdiction throughout the world: (a) patents, patent applications and inventions, including all renewals, extensions, combinations, divisions, or reissues thereof (“Patents”); (b) trademarks, service
marks, trade names, trade dress, logos, internet domain names and other business identifiers, together with the goodwill symbolized by any of the foregoing, and all applications, registrations, renewals and extensions thereof
(“Trademarks”); (c) copyrights and all works of authorship including all registrations, applications, renewals, extensions and reversions thereof (“Copyrights”); (d) all computer software, source code,
executable code, data, databases and documentation thereof; (e) all trade secret rights in information, including trade secret rights in any formula, pattern, compilation, program, device, method, technique, or process, that (1) derives
independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other Persons who can obtain economic value from its disclosure or use, and (2) is the subject of
efforts that are reasonable under the circumstances to maintain its secrecy; (f) all other intellectual property or proprietary rights in any discoveries, concepts, ideas, research and development, know-how, formulae, patterns, inventions,
compilations, compositions, manufacturing and production processes and techniques, program, device, method, technique, technical data, procedures, designs, recordings, graphs, drawings, reports, analyses, specifications, databases, and other
proprietary or confidential information, including customer lists (other than Prescription Lists), supplier lists, pricing and cost information (other than related to Inventory and Prescription Lists), business and marketing plans and proposals and
advertising and promotional materials; and (g) all rights to sue at law or in equity for any infringement or other impairment or violation thereof and all products and proceeds of the foregoing. 

  
 -9- 

 “Inventory” means as to each Grantor, all of such Grantor’s now owned and
hereafter existing or acquired inventory, as defined in Article 9 of the UCC. 
 “Investment Property” means all present
and future “investment property” (as defined in Article 9 of the UCC), including, without limitation, all Capital Stock held by each of the Issuers and the Company Subsidiaries. 

“Issuers” has the meaning assigned to that term in the Preamble to this Agreement. 

“Letter of Credit Rights” means all present and future “letter of credit rights” (as defined in Article 9 of the
UCC). 
 “Lien” means any mortgage, pledge, hypothec, hypothecation, assignment, deposit arrangement, encumbrance, lien
(statutory or other), charge or other security interest or any other security agreement (including, without limitation, any conditional sale or other title retention agreement and any Capital Lease (as defined in the ABL Credit Agreement) having
substantially the same economic effect as any of the foregoing). 
 “Money” means all present and future “money”
(as defined in Article 9 of the UCC). 
 “Mortgaged Premises” means any real property which shall now or hereafter be
subject to a Note Mortgage and/or an ABL Mortgage. 
 “Non-Conforming Plan of Reorganization” means any Plan of
Reorganization whose provisions are inconsistent with the provisions of this Agreement, including any plan of reorganization that purports to re-order (whether by subordination, invalidation, or otherwise) or otherwise disregard, in whole or part,
the provisions of Article II (including the Lien priorities of Section 2.1), the provisions of Article IV, or the provisions of Article VI, unless such Plan of Reorganization has been accepted by the voluntary
required vote of each class of ABL Claimholders and Note Claimholders. 
 “Note Claimholders” means, at any relevant time,
the holders of Note Obligations at that time, including the Noteholders, each Additional Pari Passu Notes Agent and the Notes Agent. 

“Note Collateral” means any and all of the assets and property of any Grantor, whether real, personal or mixed, with respect
to which a Lien is granted as security for any Note Obligations. 
 “Note Default” means an “Event of Default” as
defined in the Indenture or in any Additional Pari Passu Notes Agreement. 
 “Note Documents” means the Indenture, the
Notes, each Additional Pari Passu Notes Agreement, the Note Security Documents and each of the other agreements, documents and instruments executed pursuant thereto, and any other document or instrument executed or delivered at any time in
connection with any Note Obligations, including any intercreditor or joinder agreement among holders of Note Obligations to the extent such are effective at the relevant time, as each may be amended, restated, supplemented, modified, renewed,
extended or Refinanced from time to time in accordance with the provisions of this Agreement. 

  
 -10- 

 “Noteholders” means the “Holders” as defined in the Indenture and any
holders of Additional Pari Passu Notes Obligations. 
 “Note Mortgages” means a collective reference to each mortgage, deed
of trust and any other document or instrument under which any Lien on real property owned or leased by any Grantor is granted to secure any Note Obligations or under which rights or remedies with respect to any such Liens are governed. 

“Note Obligations” means all Obligations outstanding under the Notes and the other Note Documents, and all Additional Pari
Passu Notes Obligations. “Note Obligations” shall include all interest, fees and expenses accrued or accruing (or which would, absent commencement of an Insolvency or Liquidation Proceeding, accrue) after commencement of an Insolvency or
Liquidation Proceeding (with respect to interest and fees, at the rate specified in the relevant Note Document or Additional Pari Passu Notes Agreement), whether or not the claim for such interest is allowed as a claim in such Insolvency or
Liquidation Proceeding. 
 “Note Security Agreement” means the Security Agreement, dated as of December 20, 2012, by
and among the Issuers, the Company Subsidiaries, the Trustee and the Notes Agent, as the same may be amended, modified, restated, supplemented or replaced from time to time in accordance with its terms. 

“Note Security Documents” means any agreement, document or instrument pursuant to which a Lien is granted securing any Note
Obligations or under which rights or remedies with respect to such Liens are governed. 
 “Note Standstill Period” has the
meaning set forth in Section 3.1(a)(i). 
 “Notes” means, collectively, (a) the Initial Notes and
(b) any other credit agreement, loan agreement, note agreement, promissory note, indenture or other agreement or instrument evidencing or governing the terms of any indebtedness or other financial accommodation that has been incurred to
increase, replace, refinance or refund in whole or in part the Obligations outstanding under the Initial Notes or any other agreement or instrument referred to in this clause, unless such agreement or instrument expressly provides that it is not
intended to be and is not a Note, as each may be amended, restated, supplemented, modified, renewed, extended or Refinanced from time to time in accordance with the provisions of this Agreement. Any reference to the Notes hereunder shall be deemed a
reference to any Notes then in existence. 
 “Notes Agent” has the meaning assigned to that term in the Preamble of this
Agreement. 
 “Notes Collateral Account” means any deposit account or securities account required to be established
pursuant to the Note Documents for purposes of holding Notes Priority Collateral pending application as required under the Note Documents (it being understood that ABL Priority Collateral deposited in a Notes Collateral Account shall continue to be
ABL Priority Collateral). 
 “Notes Priority Collateral” means all now owned or hereafter acquired Note Collateral that
constitutes: 

  
 -11- 

 (a) Real Estate Assets; 

(b) Intellectual Property (other than Prescription Lists); 

(c) Notes Trust Monies; 
 (d) the
Notes Collateral Account; 
 (e) Investment Property (except as set forth in clauses (c), (f) and (i) of the definition of ABL
Priority Collateral); 
 (f) Equipment and Fixtures; 

(g) General Intangibles (other than General Intangibles described in clauses (a), (e), (f), (g) and (i) of the definition of ABL
Priority Collateral); 
 (h) Supporting Obligations to the extent arising out of, or related to, or derivative of, the property or interests
described in this definition; 
 (i) contracts, contract rights and other General Intangibles, Commercial Tort Claims, Documents, Chattel
Paper, and Instruments (including promissory notes), in each case, to the extent arising out of, or related to, or derivative of the property or interests in property described in this definition; 

(j) books and records relating to the items referred to in the preceding clauses (a) though (i) (including books, databases, data
processing software, customer lists, engineer drawings, and Records, whether tangible or electronic, which contain any information relating to any of the items referred to in the preceding clauses (a) through (i)); 

(k) Accounts which constitute identifiable Proceeds from the sale, license, assignment or other disposition of any of the property described in
the foregoing clauses (a) through (k); 
 (l) subject to Section 3.5, all other Collateral for the Note Obligations other than ABL
Priority Collateral; and 
 (m) subject to Section 3.5, all Proceeds of any of the foregoing, including collateral security and
guarantees with respect to any of the foregoing and all cash, Money, insurance proceeds, Instruments, Securities, Financial Assets and Deposit Accounts constituting Proceeds of the foregoing. 

“Notes Trust Monies” means Notes Priority Collateral required pursuant to the Note Documents to be deposited into a Notes
Collateral Account. 
 “Obligations” means all present and future loans, advances, liabilities, obligations, covenants,
duties, and debts from time to time owing by any Grantor to any agent or trustee (including either Agent), the ABL Claimholders, the Note Claimholders or any of them or their respective Affiliates, arising from or in connection with the ABL Loan
Documents, the Note Documents or Bank Products, whether for principal, interest or payments for early termination, whether or not evidenced by any note, or other instrument or document, whether arising from an extension of credit, opening of a
letter of credit, acceptance, loan, guaranty, indemnification or otherwise, whether direct or indirect, absolute or contingent, due or to become due, primary or secondary, as principal or guarantor, and including all principal, interest, charges,
expenses, fees, attorneys’ fees, filing fees and any other sums chargeable to the Grantors, including, without limitation, the “Obligations”, as defined in the ABL Credit Agreement, and the “Obligations”, as defined in the
Indenture, under the Notes and any Additional Pari Passu Notes Agreement. 

  
 -12- 

 “Person” means any natural person, corporation, limited liability company,
trust, joint venture, association, company, partnership, Governmental Authority or other entity. 
 “Plan of
Reorganization” means any plan of reorganization, plan of liquidation, agreement for composition, or other type of plan of arrangement proposed in or in connection with any Insolvency or Liquidation Proceeding. 

“Pledged Collateral” has the meaning set forth in Section 5.4(a). 

“Prescription Lists” means any and all lists of customers and their prescription medical history, all pricing and cost
information in connection therewith and all books and records pertaining thereto. 
 “Proceeds” means all
“proceeds” (as defined in Article 9 of the UCC), including any payment or property received on account of any claim secured by Collateral in any Insolvency or Liquidation Proceeding. 

“Real Estate Asset” means, the Company’s warehouse distribution facility in Lancaster, New York, the Company’s
retail facility located in Fayetteville, New York, and at any time of determination, any interest (fee, leasehold or otherwise) then owned by the Issuers or any Grantor in any real property. 

“Records” means all present and future “records” (as defined in Article 9 of the UCC). 

“Recovery” has the meaning set forth in Section 6.4. 

“Refinance” means, in respect of any Indebtedness, to refinance, extend, renew, defease, amend, modify, supplement,
restructure, replace, refund or repay, or to issue other indebtedness, in exchange or replacement for, such Indebtedness, in any case in whole or in part. “Refinanced” and “Refinancing” shall have correlative
meanings. 
 “Secured Parties” means the ABL Claimholders and the Note Claimholders. 

“Security” means all present and future “Securities” (as defined in Article 9 of the UCC). 

“Security Entitlements” means all present and future “security entitlements” (as defined in Article 9 of the UCC).

 “Securities Accounts” means all present and future “securities accounts” (as defined in Article 8 of the UCC),
including all monies, “uncertificated securities,” and “securities entitlements” (as defined in Article 8 of the UCC) contained therein. 

“Subsidiary” means, with respect to any Person, any corporation, partnership, limited liability company, association, joint
venture or other business entity of which more than 50% of the total voting power of shares of stock or other ownership interests entitled (without regard to 

  
 -13- 

 
the occurrence of any contingency) to vote in the election of the Person or Persons (whether directors, managers, trustees or other Persons performing similar functions) having the power to
direct or cause the direction of the management and policies thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof. 

“Supporting Obligations” means all present and future “supporting obligations” (as defined in Article 9 of the
UCC). 
 “UCC” means the Uniform Commercial Code (or any similar equivalent legislation) as in effect from time to time in
the State of New York; provided, however, that, at any time, if by reason of mandatory provisions of law, any or all of the perfection or priority of the Agents’ security interest in any item or portion of the Collateral is
governed by the Uniform Commercial Code as in effect in a jurisdiction other that the State of New York, the term “UCC” shall mean the Uniform Commercial Code as in effect, at such time, in such other jurisdiction for purposes of the
provisions hereof relating to such perfection or priority and for purposes of definitions relating to such provisions. 
 1.2. Terms
Generally. 
 The definitions of terms in this Agreement 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, restated, supplemented, modified, renewed or extended; 

(b) any reference herein to any Person shall be construed to include such Person’s permitted 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
Sections or Articles shall be construed to refer to Sections or Articles of this Agreement; 
 (e) all uncapitalized terms
have the meanings, if any, given to them in the UCC, as now or hereafter enacted in the State of New York (unless otherwise specifically defined herein); 

  
 -14- 

 (f) 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; 

(g) any reference herein to a Person in a particular capacity or capacities excludes such Person in any other capacity or
individually; 
 (h) any reference herein to any law shall be construed to refer to such law as amended, modified, codified,
replaced, or re-enacted, in whole or in part, and in effect on the pertinent date; and 
 (i) in the compilation of periods
of time hereunder from a specified date to a later specified date, the word “from” means “from and including” and the words “to” and “until” each means “to, but not through or including.” 

II. 
 LIEN PRIORITIES.

 2.1. Relative Priorities. 

Irrespective of the date, time, method, manner or order of grant, attachment or perfection of any Liens securing the Note Obligations granted
on the Collateral or of any Liens securing the ABL Obligations granted on the Collateral (including, in each case, irrespective of whether any such Lien is granted (or secures Obligations relating to the period) before or after the commencement of
any Insolvency or Liquidation Proceeding) and notwithstanding any provision of any UCC, or any other applicable law, or the ABL Loan Documents or the Note Documents, the ABL Agent, on behalf of the ABL Claimholders, and the Notes Agent, on behalf of
the Note Claimholders, hereby agree that: 
 (a) any Lien of the ABL Agent on the ABL Priority Collateral securing the ABL
Obligations, whether such Lien is now or hereafter held by or on behalf of the ABL Agent or any other ABL Claimholder or any other agent or trustee therefor, regardless of how or when acquired, whether by grant, possession, statute, operation of
law, subrogation or otherwise, shall be senior in all respects and prior to any Lien on the ABL Priority Collateral securing any Note Obligations; and 

(b) any Lien of the Notes Agent on the Notes Priority Collateral securing the Note Obligations, whether such Lien is now or
hereafter held by or on behalf of the Notes Agent, any other Note Claimholder or any other agent or trustee therefor, regardless of how or when acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be
senior in all respects to all Liens on the Notes Priority Collateral securing any ABL Obligations. 
 2.2. Prohibition on Contesting
Liens. 
 Each of the Notes Agent, on behalf of each Note Claimholder, and the ABL Agent, on behalf of each ABL Claimholder, consents
to the granting of Liens in favor of the other to secure the ABL Obligations and the Note Obligations, as applicable, and agrees that no Claimholder will be entitled to, and it will not (and shall be deemed to have irrevocably, absolutely, and
unconditionally waived any right to), contest (directly or indirectly) or support (directly or indirectly) any other Person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding): (a) the attachment, perfection,
priority, validity or enforceability of any Lien in the Collateral held by or on behalf of any of the ABL Claimholders to secure the 

  
 -15- 

 
payment of the ABL Obligations or any of the Note Claimholders to secure the payment of the Note Obligations, (b) the priority, validity or enforceability of the ABL Obligations or the Note
Obligations, including the allowability or priority of the Note Obligations or the ABL Obligations, as applicable, in any Insolvency or Liquidation Proceeding, or (c) the validity or enforceability of the provisions of this Agreement;
provided that nothing in this Agreement shall be construed to prevent or impair the rights of the ABL Agent, on behalf of the ABL Claimholders, or the Notes Agent, on behalf of the Note Claimholders, to enforce this Agreement, including the
provisions of this Agreement relating to the priority of the Liens securing the Obligations as provided in Sections 2.1, 3.1, 3.2 and 6.1. 

2.3. No New Liens. 

So long as neither the Discharge of ABL Obligations nor the Discharge of Note Obligations has occurred, whether or not any Insolvency or
Liquidation Proceeding has been commenced by or against one or more of the Issuers or any other Grantor, the parties hereto agree, subject to Article VI, that the Issuers shall not, and shall not permit any other Grantor to: 

(a) grant or permit any additional Liens on any asset or property to secure any Note Obligations unless it has granted or
concurrently grants a Lien on such asset or property to secure the ABL Obligations; or 
 (b) grant or permit any additional
Liens on any asset or property to secure any ABL Obligations unless it has granted or concurrently grants a Lien on such asset or property to secure the Note Obligations. 

To the extent any additional Liens are granted on any asset or property (except as contemplated by Section 2.4) pursuant to this
Section 2.3, the priority of such additional Liens shall be determined in accordance with Section 2.1. In addition, to the extent that the foregoing provisions are not complied with for any reason, without limiting any other
rights or remedies available hereunder, the ABL Agent, on behalf of the ABL Claimholders, and the Notes Agent, on behalf of Note Claimholders, agree that any amounts received by or distributed to any of them pursuant to or as a result of Liens
granted in contravention of this Section 2.3 shall be subject to Section 4.2. 
 2.4. Similar Liens and
Agreements. 
 The parties hereto agree that it is their intention that the ABL Collateral and the Note Collateral be identical
except (a) the Notes Collateral shall not include a Lien on securities of the Issuers and the Company Subsidiaries included in the ABL Collateral to the extent a Lien in favor of the Notes Agent thereon would require the filing of financial
statements with the Securities and Exchange Commission pursuant to Rule 3-16 of Regulation S-X under the Securities Act of 1933, as amended, and (b) as provided in Article VI and as otherwise provided herein. In furtherance of the
foregoing and of Section 8.8, the parties hereto agree, subject to the other provisions of this Agreement, upon request by the ABL Agent or the Notes Agent, to cooperate in good faith (and to direct their counsel to cooperate in good
faith) from time to time in order to determine the specific items included in the ABL Collateral and the Note Collateral and the steps taken to perfect their respective Liens thereon and the identity of the respective parties obligated under the ABL
Loan Documents and the Note Documents. 

  
 -16- 

 III. 

EXERCISE OF REMEDIES; ENFORCEMENT. 

3.1. Restrictions on the Notes Agent and the Note Claimholders. 

(a) Until the Discharge of ABL Obligations has occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced by or
against any Grantor, the Notes Agent and the other Note Claimholders: 
 (i) will not exercise or seek to exercise (but
instead shall be deemed to have hereby irrevocably, absolutely and unconditionally waived for the duration of the Note Standstill Period), any rights, powers, or remedies with respect to any ABL Priority Collateral (including (A) any right of
set-off or any right under any Account Agreement (other than Account Agreements with respect to any Notes Collateral Account), landlord waiver or bailee’s letter or similar agreement or arrangement to which the Notes Agent or any Note
Claimholder is a party, (B) any right to undertake self-help re-possession or non-judicial disposition of any ABL Priority Collateral (including any partial or complete strict foreclosure), and/or (C) any right to institute, prosecute, or
otherwise maintain any action or proceeding with respect to such rights, powers or remedies (including any action of foreclosure)) provided, however, that the Notes Agent may exercise any or all of such rights, powers or remedies after
a period of at least 270 days has elapsed since the later of: (i) the date on which the Notes Agent declared the existence of a Note Default, accelerated (to the extent such amount was not already due and owing) the payment of the principal
amount of all Note Obligations, and demanded payment thereof and (ii) the date on which the ABL Agent received the Enforcement Notice from the Notes Agent relating to such action; provided, further, however, that neither
the Notes Agent nor any other Note Claimholder shall exercise any rights or remedies with respect to the ABL Priority Collateral if, notwithstanding the expiration of such 270-day period, the ABL Agent or the other ABL Claimholders (A) shall
have commenced, whether before or after the expiration of such 270-day period, and be diligently pursuing the exercise of their rights, powers, or remedies with respect to all or any material portion of such Collateral (prompt written notice of such
exercise to be given to the Notes Agent), or (B) shall have been stayed by operation of law or any court order from pursuing any such exercise of remedies (the period during which the Notes Agent and the other Note Claimholders may not pursuant
to this Section 3.1(a)(i) exercise any rights, powers, or remedies with respect to the ABL Priority Collateral, the “Note Standstill Period”); 

(ii) will not, directly or indirectly, contest, protest or object to or hinder any judicial or non-judicial foreclosure
proceeding or action (including any partial or complete strict foreclosure) brought by the ABL Agent or any other ABL Claimholder relating to the ABL Priority Collateral or any other exercise by the ABL Agent or any other ABL Claimholder of any
other rights, powers and remedies relating to the ABL Priority Collateral, including any sale, lease, exchange, transfer, or other disposition of the ABL Priority Collateral, whether under the ABL Loan Documents, applicable law, by any Grantor with
the consent of the ABL Agent, or otherwise; 

  
 -17- 

 (iii) subject to their rights under clause (a)(i) above (and under clause
(vi) of Section 3.1(c)), will not object to the forbearance by the ABL Agent or the ABL Claimholders from bringing or pursuing any Enforcement with respect to the ABL Priority Collateral; 

(iv) except as may be permitted in Section 3.1(c), irrevocably, absolutely, and unconditionally waive any and all
rights the Notes Agent or the Note Claimholders may have as a junior lien creditor or otherwise to object (and seek or be awarded any relief of any nature whatsoever based on any such objection) to the manner in which the ABL Agent or the ABL
Claimholders (A) enforce or collect (or attempt to collect) the ABL Obligations or (B) realize or seek to realize upon or otherwise enforce the Liens in and to the ABL Priority Collateral securing the ABL Obligations, regardless of whether
any action or failure to act by or on behalf of the ABL Agent or ABL Claimholders is adverse to the interest of the Notes Agent or the Note Claimholders. Without limiting the generality of the foregoing, the Note Claimholders shall be deemed to have
hereby irrevocably, absolutely, and unconditionally waived any right to object (and seek or be awarded any relief of any nature whatsoever based on any such objection), at any time prior or subsequent to any disposition of any of the ABL Priority
Collateral, on the ground(s) that any such disposition of ABL Priority Collateral (x) would not be or was not “commercially reasonable” within the meaning of any applicable UCC and/or (y) would not or did not comply with any
other requirement under any applicable UCC or under any other applicable law governing the manner in which a secured creditor (including one with a Lien on real property) is to realize on its collateral; and 

(v) subject to Section 3.1(a) and (c), acknowledge and agree that no covenant, agreement or restriction
contained in the Note Security Documents or any other Note Document (other than this Agreement) shall be deemed to restrict in any way the rights and remedies of the ABL Agent or the ABL Claimholders with respect to the ABL Priority Collateral as
set forth in this Agreement and the ABL Loan Documents; 
 provided, however, that, in the case of (i), (ii) and (iii) above, the
Liens granted to secure the Note Obligations of the Note Claimholders shall attach to any Proceeds resulting from actions taken by the ABL Agent or any ABL Claimholder with respect to the ABL Priority Collateral in accordance with this Agreement
after application of such Proceeds to the extent necessary to meet the requirements of a Discharge of ABL Obligations. 
 (b) Until the
Discharge of ABL Obligations has occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced by or against any Grantor, the ABL Agent and the other ABL Claimholders shall have the right to enforce rights, exercise remedies
(including set-off and the right to credit bid their debt) and, in connection therewith (including voluntary Dispositions of ABL Priority Collateral by the respective Grantors after an ABL Default) make determinations regarding the release,
disposition, or restrictions with respect to the ABL Priority Collateral without any consultation with or the consent of the Notes Agent or any Note Claimholder; provided, however, that the Lien securing the Note Obligations shall
remain on the Proceeds (other than those properly applied to the ABL Obligations in accordance with Section 4.1) of such Collateral released or disposed of subject to the relative priorities described in Section 2.1. In
exercising rights, powers, and remedies with respect to the ABL 

  
 -18- 

 
Priority Collateral, the ABL Agent and the ABL Claimholders may enforce the provisions of the ABL Loan Documents and exercise rights, powers, and/or remedies thereunder and/or under applicable
law or otherwise, all in such order and in such manner as they may determine in the exercise of their sole discretion. Such exercise and enforcement shall include the rights of an agent appointed by them to sell or otherwise dispose of the ABL
Priority Collateral upon foreclosure, to incur expenses in connection with such sale or disposition, and to exercise all the rights and remedies of a secured creditor under the UCC and of a secured creditor under the Bankruptcy Laws of any
applicable jurisdiction. 
 (c) Notwithstanding anything to the contrary contained herein, the Notes Agent and any Note
Claimholder may: 
 (i) file a claim or statement of interest with respect to the Note Obligations; provided that an
Insolvency or Liquidation Proceeding has been commenced by or against any Grantor; 
 (ii) take any action (not adverse to
the priority status of the Liens on the ABL Priority Collateral, or the rights of the ABL Agent or any of the ABL Claimholders to exercise rights, powers, and/or remedies in respect thereof, including those under Article VI) in order to
create, perfect, preserve or protect (but not enforce) its Lien on any of the ABL Priority Collateral; 
 (iii) file any
necessary responsive or defensive pleadings in opposition to any motion, claim, adversary proceeding or other pleading made by any person objecting to or otherwise seeking the disallowance of the claims of the Note Claimholders, including any claims
secured by the ABL Priority Collateral, if any, in each case in accordance with the terms of this Agreement; 
 (iv) file any
pleadings, objections, motions or agreements which assert rights or interests available to unsecured creditors of the Grantors arising under either any Insolvency or Liquidation Proceeding or applicable non-bankruptcy law, in each case not
inconsistent with the terms of this Agreement or applicable law (including the Bankruptcy Laws of any applicable jurisdiction) and any pleadings, objections, motions or agreements which assert rights or interests available to secured creditors
solely with respect to the Notes Priority Collateral; 
 (v) vote on any Plan of Reorganization, file any proof of claim,
make other filings and make any arguments, obligations, and motions (including in support of or opposition to, as applicable, the confirmation or approval of any Plan of Reorganization) that are, in each case, in accordance with the terms of this
Agreement. Without limiting the generality of the foregoing or of the other provisions of this Agreement, any vote to accept, and any other act to support the confirmation or approval of, any Non-Conforming Plan of Reorganization shall be
inconsistent with and accordingly, a violation of the terms of this Agreement, and the ABL Agent shall be entitled to have any such vote to accept a Non-Conforming Plan of Reorganization changed and any such support of any Non-Conforming Plan of
Reorganization withdrawn; 

  
 -19- 

 (vi) exercise any of the rights, powers and/or remedies with respect to any of
the ABL Priority Collateral after the termination of the Note Standstill Period to the extent permitted by Section 3.1(a)(i); and 

(vii) take any action described in clauses (iii), (vi) and (viii) of the definition of “Enforcement.” 

The Notes Agent, on behalf of the Note Claimholders, agrees that no Note Claimholder will take or receive any ABL Priority Collateral (including Proceeds) in
connection with the exercise of any right or remedy (including set-off) with respect to ABL Priority Collateral in its capacity as a creditor in violation of this Agreement. Without limiting the generality of the foregoing, unless and until the
Discharge of ABL Obligations has occurred, except as expressly provided in Sections 3.1(a)(i), 6.7 and clause (vi) of Section 3.1(c), the sole right of the Notes Agent and the Note Claimholders with respect to
the ABL Priority Collateral is to hold a Lien on such Collateral pursuant to the Note Security Documents for the period and to the extent granted therein and to receive a share of the Proceeds thereof, if any, in accordance with
Section 4.1. 
 (d) Except as otherwise specifically set forth in Sections 3.1(a) and 3.5 and Article VI,
the Notes Agent and the Note Claimholders may exercise rights and remedies as unsecured creditors against any Grantor and may exercise rights and remedies with respect to the Notes Priority Collateral, in each case, in accordance with the terms of
the Note Documents and applicable law; provided, however, that in the event that the Notes Agent or any Note Claimholder becomes a judgment Lien creditor in respect of ABL Priority Collateral as a result of its enforcement of its
rights as an unsecured creditor with respect to the Note Obligations, such judgment Lien shall be subject to the terms of this Agreement for all purposes (including in relation to the ABL Obligations) as the other Liens securing the Note Obligations
are subject to this Agreement. 
 (e) Except as provided in Section 5.3(d), nothing in this Agreement shall prohibit the receipt
by the Notes Agent or any other Note Claimholders of the required payments of interest, principal and other amounts owed in respect of the Note Obligations so long as such receipt is not the direct or indirect result of the exercise by the Notes
Agent or any Note Claimholders of rights or remedies as a secured creditor (including set-off) with respect to ABL Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. Nothing in this Agreement
impairs or otherwise adversely affects any rights or remedies the ABL Agent or the ABL Claimholders may have against the Grantors under the ABL Loan Documents. 

3.2. Restrictions on the ABL Agent and ABL Claimholders. 

(a) Until the Discharge of Note Obligations has occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced by or
against any Grantor, subject to the limited extent provided in Article VI, the ABL Agent and the other ABL Claimholders: 

  
 -20- 

 (i) will not exercise or seek to exercise (but instead shall be deemed to have
hereby irrevocably, absolutely and unconditionally waived for the duration of the ABL Standstill Period) any rights, powers, or remedies with respect to any Notes Priority Collateral (including (A) any right of set-off or any right under any
Account Agreement, relating to any Notes Collateral Account, landlord waiver or bailee’s letter or similar agreement or arrangement to which the ABL Agent or any ABL Claimholder is a party, (B) any right to undertake self-help repossession
or non-judicial disposition of any Notes Priority Collateral (including any partial or complete strict foreclosure), and/or (C) any right to institute, prosecute or otherwise maintain any action or proceeding with respect to such rights,
powers, or remedies (including any action of foreclosure)); provided, however, that the ABL Agent may exercise any or all of such rights, powers, or remedies after a period of at least 270 days has elapsed since the later of:
(i) the date on which the ABL Agent declared the existence of an ABL Default, accelerated (to the extent such amount was not already due and owing) the payment of the principal amount of all ABL Obligations, and demanded payment thereof and
(ii) the date on which the Notes Agent received the Enforcement Notice from the ABL Agent relating to such action; provided, further, however, that neither the ABL Agent nor any other ABL Claimholders shall exercise any
rights or remedies with respect to the Notes Priority Collateral if, notwithstanding the expiration of such 270-day period, the Notes Agent or the other Notes Claimholders (A) shall have commenced, whether before or after the expiration of such
270-day period, and be diligently pursuing the exercise of their rights or remedies with respect to all or any material portion of such Collateral (prompt notice of such exercise to be given to the ABL Agent) or (B) shall have been stayed by
operation of law or by any court order from pursuing any such exercise of remedies (the period during which the ABL Agent and the other ABL Claimholders may not pursuant to this Section 3.2(a)(i) exercise any rights, powers or remedies
with respect to the Notes Priority Collateral, the “ABL Standstill Period”); provided, finally, however, that the ABL Agent, independent in all respects of the preceding provisos, may exercise the rights
provided for in Section 3.3 (with respect to any Access Period); 
 (ii) will not, directly or indirectly,
contest, protest or object to or hinder any judicial or non-judicial foreclosure proceeding or action (including any partial or complete strict foreclosure) brought by the Notes Agent or any other Note Claimholder relating to the Notes Priority
Collateral or any other exercise by the Notes Agent or any other Note Claimholder of any rights, powers and remedies relating to the Notes Priority Collateral, including any sale, lease, exchange, transfer, or other disposition of the Notes Priority
Collateral, whether under the Note Documents, applicable law, by any Grantor with the consent of the Notes Agent, or otherwise subject to the Notes Agent’s and the other Note Claimholders’ obligations under Section 3.3; 

(iii) subject to Section 3.2(a), will not object to the forbearance by the Notes Agent or the Note Claimholders
from bringing or pursuing any Enforcement with respect to the Notes Priority Collateral; 
 (iv) subject to Sections
3.2(c), 3.3 and 3.5, irrevocably, absolutely and unconditionally waive any and all rights the ABL Agent and ABL Claimholders may have as a junior lien creditor or otherwise to object (and seek or be awarded any relief of any nature
whatsoever based on any such objection) to the manner in which the Notes Agent or the Note Claimholders (a) enforce or collect (or attempt to collect) the Note Obligations or (b) realize or seek to realize upon or otherwise enforce the
Liens in and to 

  
 -21- 

 
the Notes Priority Collateral securing the Note Obligations, regardless of whether any action or failure to act by or on behalf of the Notes Agent or Note Claimholders is adverse to the interest
of the ABL Claimholders. Without limiting the generality of the foregoing, the ABL Claimholders shall be deemed to have hereby irrevocably, absolutely and unconditionally waived any right to object (and seek or be awarded any relief of any nature
whatsoever based on any such objection), at any time prior to or subsequent to any disposition of any Notes Priority Collateral, on the ground(s) that any such disposition of Notes Priority Collateral (a) would not be or was not
“commercially reasonable” within the meaning of any applicable UCC and/or (b) would not or did not comply with any other requirement under any applicable UCC or under any other applicable law governing the manner in which a secured
creditor (including one with a Lien on real property) is to realize on its collateral; and 
 (v) subject to Sections
3.2(a) and (c) and Sections 3.3 and 3.5, acknowledge and agree that no covenant, agreement or restriction contained in the ABL Security Documents or any other ABL Loan Document (other than this Agreement) shall be
deemed to restrict in any way the rights and remedies of the Notes Agent or the Note Claimholders with respect to the Notes Priority Collateral as set forth in this Agreement and the Note Documents; 

provided, however, that in the case of (i), (ii) and (iii) above, the Liens granted to secure the ABL Obligations of the ABL
Claimholders shall attach to any Proceeds resulting from actions taken by the Notes Agent or any Note Claimholder with respect to the Notes Priority Collateral in accordance with this Agreement after application of such Proceeds to the extent
necessary to meet the requirements of a Discharge of Note Obligations. 
 (b) Until the Discharge of Note Obligations has occurred, whether
or not any Insolvency or Liquidation Proceeding has been commenced by or against any Grantor, the Notes Agent and the Note Claimholders shall have the right to enforce rights, exercise remedies (including set-off and the right to credit bid their
debt) and make, in connection therewith (including voluntary Dispositions of Notes Priority Collateral by the respective Grantors after a Note Default) determinations regarding the release, disposition, or restrictions with respect to the Notes
Priority Collateral without any consultation with or the consent of the ABL Agent or any ABL Claimholder subject to the Notes Agent’s and the Note Claimholders’ obligations under Section 3.3; provided, however,
that the Lien securing the ABL Obligations shall remain on the Proceeds (other than those properly applied to the Note Obligations in accordance with the Note Documents) of such Collateral released or disposed of subject to the relative priorities
described in Section 2.1. In exercising rights, powers and remedies with respect to the Notes Priority Collateral, the Notes Agent and the Note Claimholders may enforce the provisions of the Note Documents and exercise rights, powers
and/or remedies thereunder and/or under applicable law or otherwise, all in such order and in such manner as they may determine in the exercise of their sole discretion subject to the Notes Agent’s and the Note Claimholders’ obligations
under Section 3.3. Such exercise and enforcement shall include the rights of an agent appointed by them to sell or otherwise dispose of the Notes Priority Collateral upon foreclosure, to incur expenses in connection with such sale or
disposition, and to exercise all the rights and remedies of a secured creditor under the UCC and of a secured creditor under the Bankruptcy Laws of any applicable jurisdiction. 

  
 -22- 

 (c) Notwithstanding anything to the contrary contained herein, the ABL Agent and any ABL
Claimholder may: 
 (i) file a claim or statement of interest with respect to the ABL Obligations; provided that an
Insolvency or Liquidation Proceeding has been commenced by or against any Grantor; 
 (ii) take any action (not adverse to
the priority status of the Liens on the Notes Priority Collateral, or the rights of the Notes Agent or any of the Note Claimholders to exercise rights, powers and/or remedies in respect thereof, including those under Article VI) in order to
create, perfect, preserve or protect (but, subject to the provisions of Section 3.3, not enforce) its Lien on any of the Notes Priority Collateral; 

(iii) file any necessary responsive or defensive pleadings in opposition to any motion, claim, adversary proceeding or other
pleading made by any person objecting to or otherwise seeking the disallowance of the claims of the ABL Claimholders, including any claims secured by the Notes Priority Collateral, if any, in each case in accordance with the terms of this Agreement;

 (iv) file any pleadings, objections, motions or agreements which assert rights or interests available to unsecured
creditors of the Grantors arising under either any Insolvency or Liquidation Proceeding or applicable non-bankruptcy law, in each case not inconsistent with the terms of this Agreement or applicable law (including the Bankruptcy Laws of any
applicable jurisdiction) and any pleadings, objections, motions or agreements which assert rights or interests available to secured creditors solely with respect to the ABL Priority Collateral; 

(v) vote on any Plan of Reorganization, file any proof of claim, make other filings and make any arguments, obligations and
motions (including in support of or opposition to, as applicable, the confirmation or approval of any Plan of Reorganization) that are, in each case, in accordance with the terms of this Agreement. Without limiting the generality of the foregoing or
of the other provisions of this Agreement, any vote to accept, and any other act to support the confirmation or approval of, any Non-Conforming Plan of Reorganization shall be inconsistent with and, accordingly, a violation of the terms of this
Agreement, and the Notes Agent shall be entitled to have any such vote to accept a Non-Conforming Plan of Reorganization changed and any such support of any Non-Conforming Plan of Reorganization withdrawn; 

(vi) exercise any of its rights, powers, and/or remedies with respect to any of the Notes Priority Collateral after the
termination of the ABL Standstill Period to the extent permitted by Section 3.2(a)(i); and 
 (vii) take any
action described in clauses (i) through (viii) of the definition of “Enforcement.” 
 The ABL Agent, on behalf of the ABL Claimholders,
agrees that no ABL Claimholder will take or receive any Notes Priority Collateral (including Proceeds) in connection with the exercise of any right or remedy (including set-off) with respect to any Notes Priority Collateral in its

  
 -23- 

 
capacity as a creditor in violation of this Agreement. Without limiting the generality of the foregoing, unless and until the Discharge of Note Obligations has occurred, except as expressly
provided in Sections 3.2(a)(i), 3.3 and 3.5 and clause (vi) of this Section 3.2(c), the sole right of the ABL Agent and the ABL Claimholders with respect to the Notes Priority Collateral is to hold a Lien on
such Collateral pursuant to the ABL Security Documents for the period and to the extent granted therein and to receive a share of the Proceeds thereof, if any, in accordance with Section 4.1. 

(d) Except as otherwise specifically set forth in Sections 3.2(a) and 3.5 and Article VI, the ABL Agent and the ABL
Claimholders may exercise rights and remedies as unsecured creditors against any Grantor and may exercise rights and remedies with respect to the ABL Priority Collateral, in each case, in accordance with the terms of the ABL Loan Documents and
applicable law; provided, however, that in the event that any the ABL Agent or ABL Claimholder becomes a judgment Lien creditor in respect of Notes Priority Collateral as a result of its enforcement of its rights as an unsecured
creditor with respect to the ABL Obligations, such judgment Lien shall be subject to the terms of this Agreement for all purposes (including in relation to the Note Obligations) as the other Liens securing the ABL Obligations are subject to this
Agreement. 
 (e) Except as provided in Section 5.3(c), nothing in this Agreement shall prohibit the receipt by the ABL Agent or
any ABL Claimholders of the required payments of interest, principal and other amounts owed in respect of the ABL Obligations so long as such receipt is not the direct or indirect result of the exercise by the ABL Agent or any ABL Claimholders of
rights or remedies as a secured creditor (including set-off) with respect to Notes Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. Nothing in this Agreement impairs or otherwise adversely
affects any rights or remedies the Notes Agent or the Note Claimholders may have against the Grantors under the Note Documents. 
 3.3.
Collateral Access Rights. 
 (a) The ABL Agent and the Notes Agent agree not to commence Enforcement (including, without
limitation, a Going Out of Business Sale) until an Enforcement Notice has been given to the other Agent. Subject to the provisions of Sections 3.1 and 3.2, either Agent may join in any judicial proceedings commenced by the other Agent
to enforce Liens on the Collateral, provided that neither Agent, nor the other ABL Claimholders or the other Note Claimholders, as applicable, shall interfere with the Enforcement actions of the other with respect to Collateral in which such
party has the priority Lien in accordance with Section 2.1 and Section 2.2. 
 (b) If the Notes Agent, or any agent
or representative of the Notes Agent, or any receiver, shall, after any Note Default, obtain possession or physical control of any of the Notes Priority Collateral, the Notes Agent shall promptly notify the ABL Agent in writing of that fact, and the
ABL Agent shall, within ten (10) Business Days thereafter, notify the Notes Agent in writing as to whether the ABL Agent desires to exercise rights under this Agreement in connection with an Enforcement (including, without limitation, a Going
Out of Business Sale) with respect to the ABL Priority Collateral. In addition, if the ABL Agent, or any agent or 

  
 -24- 

 
representative or the ABL Agent, or any receiver, shall obtain possession or physical control of any of the Mortgaged Premises or any of the tangible Notes Priority Collateral located on any
premises other than a Mortgaged Premises or control over any intangible Notes Priority Collateral, following the delivery to the Notes Agent of an Enforcement Notice, then the ABL Agent shall promptly notify the Notes Agent in writing that the ABL
Agent is exercising its access rights under this Agreement. Upon delivery of such notice by the ABL Agent to the Notes Agent, the parties shall confer in good faith to coordinate with respect to the ABL Agent’s exercise of such access rights.
Consistent with the definition of “Access Period,” access rights will apply to differing parcels of Mortgaged Premises at differing times, in which case, a differing Access Period will apply to each such property. 

(c) During any pertinent Access Period, the ABL Agent and the Issuers and their Subsidiaries, with the consent of the ABL Agent in connection
with a Going Out of Business Sale, and their agents, representatives and designees shall have an irrevocable, non-exclusive right to have access to, and a rent-free right to use, the Notes Priority Collateral for the purpose of (i) arranging
for and effecting the sale or disposition of ABL Priority Collateral, including the production, completion, packaging and other preparation of such ABL Priority Collateral for sale or disposition, (ii) selling (by public auction, private sale
or a “store closing”, Going Out of Business Sale or similar sale, whether in bulk, in lots or to customers in the ordinary course of business or otherwise and which sale may include augmented Inventory of the same type sold in any
Grantor’s business), (iii) storing or otherwise dealing with the ABL Priority Collateral, in each case without notice to, the involvement of or interference by the Notes Agent or any Note Claimholder or liability to the Notes Agent or any
Note Claimholder. During any such Access Period, the ABL Agent and its representatives (and persons employed on their behalf), may continue to operate, service, maintain, process and sell the ABL Priority Collateral, as well as to engage in bulk
sales of ABL Priority Collateral. The ABL Agent shall take proper and reasonable care under the circumstances of any Notes Priority Collateral that is used by the ABL Agent during the Access Period and repair and replace any damage (ordinary
wear-and-tear excepted) caused by the ABL Agent or its agents, representatives or designees and the ABL Agent shall comply with all applicable laws in all material respects in connection with its use or occupancy of the Notes Priority Collateral.
The ABL Agent and the ABL Claimholders shall reimburse the Notes Agent and the Note Claimholders for any injury or damage to Persons or property (ordinary wear-and-tear excepted) caused by the acts or omissions of Persons under its control;
provided, however, that the ABL Agent and the ABL Claimholders will not be liable for any diminution in the value of the Mortgaged Premises or any other Notes Priority Collateral caused by the absence of the ABL Priority Collateral
therefrom. In no event shall the ABL Claimholders or the ABL Agent have any liability to the Note Claimholders and/or to the Notes Agent hereunder as a result of any condition (including any environmental condition, claim or liability) on or with
respect to the Notes Priority Collateral existing prior to the date of the exercise by the ABL Agent) of its rights under this Agreement. The ABL Agent and the Notes Agent shall cooperate and use reasonable efforts to ensure that their activities
during the Access Period as described above do not interfere materially with the activities of the other as described above, including the right of Notes Agent to show the Notes Priority Collateral to prospective purchasers and to ready the Notes
Priority Collateral for sale. 

  
 -25- 

 (c) For the purposes of enabling the ABL Agent to exercise rights and remedies under this
Agreement during the Enforcement Period, the Notes Agent and each Grantor hereby grant (to the full extent of their respective rights and interests) the ABL Agent and its agents, representatives and designees an irrevocable, non-exclusive,
royalty-free, rent-free license and lease (which will be binding on any successor or assignee of any Notes Priority Collateral) to use all of the Notes Priority Collateral to collect all Accounts included in ABL Priority Collateral, to copy, use, or
preserve any and all information relating to any of the ABL Priority Collateral, and to complete the manufacture, packaging, advertising for sale and sale of (i) work-in-process, (ii) raw materials and (iii) complete inventory;
provided, however, the royalty-free, rent-free license and lease with respect to the applicable Notes Priority Collateral, shall immediately expire upon the end of the Access Period; provided, further, that such expiration shall be
without prejudice to the sale or other disposition of the ABL Priority Collateral in accordance with applicable law. 
 (d) Consistent with
the definition of the term “Access Period,” if any order or injunction is issued or stay is granted or is otherwise effective by operation of law that prohibits the ABL Agent from exercising any of its rights hereunder, then the Access
Period granted to the ABL Agent under this Section 3.3 shall be stayed during the period of such prohibition and shall continue thereafter for the number of days remaining in the applicable Access Period. The Notes Agent shall not
foreclose or otherwise sell or dispose of any of the Notes Priority Collateral during the Access Period unless the buyer agrees in writing to acquire the Notes Priority Collateral subject to the terms of Section 3.3 of this Agreement and
agrees therein to comply with the terms of this Section 3.3. The rights of ABL Agent and the ABL Claimholders under this Section 3.3 during the Access Period shall continue notwithstanding such foreclosure, sale or other
disposition by the Notes Agent. 
 (e) The ABL Agent and the ABL Claimholders shall have the right to bring an action to enforce their rights
under this Section 3.3, including, without limitation, an action seeking possession of the applicable Collateral and/or specific performance of this Section 3.3. 

3.4. Reserved. 

3.5. Set-Off and Tracing of and Priorities in Proceeds. 

The Notes Agent, on behalf of the Note Claimholders, acknowledges and agrees that, to the extent the Notes Agent or any Note Claimholder
exercises its rights of set-off against any ABL Priority Collateral, the amount of such set-off shall be held and distributed pursuant to Section 4.1. The ABL Agent, on behalf of the ABL Claimholders, acknowledges and agrees that, to the
extent the ABL Agent or any ABL Claimholder exercises its rights of set-off against any Notes Priority Collateral, the amount of such set-off shall be held and distributed pursuant to Section 4.1. The ABL Agent, for itself and on behalf
of the ABL Claimholders, and the Notes Agent, for itself and on behalf of the Note Claimholders, further agree that prior to an issuance of an Enforcement Notice or the commencement of any Insolvency or Liquidation Proceeding, any Proceeds of
Collateral, whether or not deposited under Account Agreements (other than with respect to any Notes Collateral Account), which are used by any Grantor to acquire other property which is Collateral shall not (solely as between the Agents, the ABL
Claimholders and the Note Claimholders) be treated as Proceeds of Collateral for purposes of determining the relative priorities in the Collateral which was so acquired. In addition, unless and until the Discharge of ABL Obligations occurs, subject
to Section 4.2, the Notes Agent and the Note 

  
 -26- 

 
Claimholders each hereby consents to the application, prior to the receipt by the ABL Agent of an Enforcement Notice issued by the Notes Agent, of cash or other Proceeds of Collateral, deposited
under Account Agreements (other than Account Agreements with respect to any Notes Collateral Account) to the repayment of ABL Obligations pursuant to the ABL Loan Documents. 

IV. 
 PAYMENTS.

 4.1. Application of Proceeds. 

(a) So long as the Discharge of ABL Obligations has not occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced by
or against any Grantor, all ABL Priority Collateral or Proceeds thereof received in connection with the sale or other disposition of, or collection on, such ABL Priority Collateral as a result of the exercise of remedies or other Enforcement or
Going Out of Business Sale by either Agent or any ABL Claimholders or Note Claimholders, shall be delivered to the ABL Agent and shall be applied or further distributed by the ABL Agent to or on account of the ABL Obligations in such order, if any,
as specified in the relevant ABL Loan Documents. Upon the Discharge of ABL Obligations, the ABL Agent shall deliver to the Notes Agent any Collateral and Proceeds of Collateral received or delivered to it pursuant to the preceding sentence, in the
same form as received, with any necessary endorsements, to be applied by the Notes Agent to the Note Obligations in such order as specified in the Note Security Documents. 

(b) So long as the Discharge of Note Obligations has not occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced
by or against any Grantor, all Notes Priority Collateral or Proceeds thereof received in connection with the sale or other disposition of, or collection on, such Notes Priority Collateral as a result of the exercise of remedies or other Enforcement
by either Agent or any Note Claimholders or ABL Claimholders, shall be delivered to the Notes Agent and shall be applied by the Notes Agent to the Note Obligations in such order as specified in the relevant Note Documents. Upon the Discharge of Note
Obligations, the Notes Agent shall deliver to the ABL Agent any Collateral and Proceeds of Collateral received or delivered to it pursuant to the preceding sentence, in the same form as received, with any necessary endorsements to be applied by the
ABL Agent to the ABL Obligations in such order as specified in the ABL Security Documents. 
 (c) In the event of any Enforcement action
involving the disposition of both ABL Priority Collateral and Notes Priority Collateral (including any insurance proceeds received under Section 5.2), the ABL Agent and the Notes Agent shall negotiate in good faith as to the allocation of the
proceeds therefrom 
 4.2. Payments Over in Violation of Agreement. 

So long as neither the Discharge of ABL Obligations nor the Discharge of Note Obligations has occurred, whether or not any Insolvency or
Liquidation Proceeding has been commenced by or against any Grantor, any Collateral (including assets or Proceeds subject to Liens referred to in the final sentence of Section 2.3) received by either Agent or any Note Claimholders or ABL
Claimholders in connection with any Enforcement action relating to the Collateral in contravention of this Agreement shall be segregated and held in trust and forthwith 

  
 -27- 

 
paid over to the appropriate Agent for the benefit of the Note Claimholders or the ABL Claimholders, as applicable, in the same form as received, with any necessary endorsements or as a court of
competent jurisdiction may otherwise direct. Each Agent is hereby authorized by the other Agent to make any such endorsements as agent for the other Agent or any Note Claimholders or ABL Claimholders, as applicable. This authorization is coupled
with an interest and is irrevocable until the Discharge of ABL Obligations and Discharge of Note Obligations. 
 4.3. Application of
Payments. 
 Subject to the other terms of this Agreement, all payments received by (a) the ABL Agent or the ABL Claimholders may be applied,
reversed and reapplied, in whole or in part, to the ABL Obligations to the extent provided for in the ABL Loan Documents and (b) the Notes Agent or the Note Claimholders may be applied, reversed and reapplied, in whole or in part, to the Note
Obligations to the extent provided for in the Note Documents. 
 4.4. Revolving Nature of ABL Obligations. 

The Notes Agent, on behalf of the Note Claimholders, acknowledges and agrees that the ABL Credit Agreement includes a revolving commitment and
that the amount of the ABL Obligations that may be outstanding at any time or from time to time may be increased or reduced and subsequently reborrowed. 

V. 
 OTHER AGREEMENTS.

 5.1. Releases. 

(a) (i) If, in connection with (A) any exercise of remedies or Enforcement (including as provided for in Section 3.1(b) or
Section 6.8(a)) or any Going Out of Business Sale, or (B) any sale, transfer or other disposition of all or any portion of the ABL Priority Collateral, so long as such sale, transfer or other disposition is then not prohibited by
the ABL Documents (or consented to by the requisite ABL Lenders) or by the Note Documents (or consented to by the requisite Noteholders), irrespective of whether an ABL Default has occurred and is continuing, the ABL Agent, on behalf of any of the
ABL Claimholders, releases any of its Liens on any part of the ABL Priority Collateral, then the Liens, if any, of the Notes Agent, for the benefit of the Note Claimholders, on the Collateral sold or disposed of in connection therewith, shall be
automatically, unconditionally and simultaneously released; provided that, to the extent the Proceeds of such ABL Priority Collateral are not applied to reduce ABL Obligations, the Notes Agent shall retain a Lien on such Proceeds in
accordance with the terms of this Agreement. The Notes Agent, on behalf of the Note Claimholders, promptly shall execute and deliver to the ABL Agent or such Grantor such termination statements, releases and other documents as the ABL Agent or such
Grantor may request in writing to effectively confirm such release. 

  
 -28- 

 (ii) If, in connection with (A) any exercise of remedies or Enforcement (including as
provided for in Sections 3.2(b) or Section 6.8(b)), or (B) any sale, transfer or other disposition of all or any portion of the Notes Priority Collateral, so long as such sale, transfer or other disposition is then not prohibited by the
Note Documents (or consented to by the requisite Noteholders) or by the ABL Documents (or consented to by the requisite ABL Lenders), irrespective of whether a Note Default has occurred and is continuing, the Notes Agent, on behalf of any of the
Note Claimholders, releases any of its Liens on any part of the Notes Priority Collateral, then the Liens, if any, of the ABL Agent, for the benefit of the ABL Claimholders, on the Collateral sold or disposed of in connection therewith, shall be
automatically, unconditionally and simultaneously released; provided that the provisions of Section 3.3 shall continue, to the extent such Section is applicable at the time of such sale, transfer or other disposition; provided, further that, to
the extent the Proceeds of such Notes Priority Collateral are not applied to reduce Note Obligations, the ABL Agent shall retain a Lien on such Proceeds in accordance with the terms of this Agreement. The ABL Agent, on behalf of the ABL
Claimholders, promptly shall execute and deliver to the Notes Agent or such Grantor such termination statements, releases and other documents as the Notes Agent or such Grantor may request to effectively confirm such release. 

(b) Until the Discharge of ABL Obligations and Discharge of Note Obligations shall occur, the ABL Agent, on behalf of the ABL Claimholders, and
the Notes Agent, on behalf of the Note Claimholders, as applicable, hereby irrevocably constitutes and appoints the other Agent and any officer or agent of the other Agent, with full power of substitution, as its true and lawful attorney-in-fact
with full irrevocable power and authority in the place and stead of the other Agent or such holder or in the Agent’s own name, from time to time in such Agent’s discretion exercised in good faith, for the purpose of carrying out the terms
of this Section 5.1, to take any and all appropriate action and to execute any and all documents and instruments which may be necessary to accomplish the purposes of this Section 5.1, including any endorsements or other
instruments of transfer or release. 
 (c) Until the Discharge of ABL Obligations and Discharge of Note Obligations shall occur, to the
extent that the Agents or the ABL Claimholders or the Note Claimholders (i) have released any Lien on Collateral and such Lien is later reinstated or (ii) obtain any new Liens from any Grantor, then, in accordance with
Section 2.3, the Grantors shall grant a Lien on any such Collateral, subject to the Lien priority provisions of this Agreement, to the other Agent, for the benefit of the ABL Claimholders or Note Claimholders, as applicable. 

5.2. Insurance. 

(a) Unless and until the Discharge of ABL Obligations and subject to the terms of, and the rights of the Grantors under, the ABL Loan
Documents, the ABL Agent, on behalf of the ABL Claimholders, shall have the sole and exclusive right to adjust settlement for any insurance policy covering the ABL Priority Collateral in the event of any loss thereunder and to approve any award
granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) affecting such Collateral. Until the Discharge of ABL Obligations has occurred, (i) all Proceeds of any such policy and any such award (or any payments with
respect to a deed in lieu of condemnation) if in respect of the ABL Priority Collateral and to the extent required by the ABL Loan Documents shall be paid to the ABL Agent for the benefit of the ABL Claimholders pursuant to the terms of the ABL Loan
Documents (including, without limitation, for purposes of cash collateralization of letters of credit) and thereafter, if the Discharge of ABL Obligations has occurred, and subject to the rights of the Grantors under the Note Security

  
 -29- 

 
Documents, to the Notes Agent for the benefit of the Note Claimholders to the extent required under the Note Security Documents and then, to the extent no Note Obligations are outstanding, to the
owner of the subject property, such other Person as may be entitled thereto or as a court of competent jurisdiction may otherwise direct, and (ii) if the Notes Agent or any Note Claimholders shall, at any time, receive any Proceeds of any such
insurance policy or any such award or payment with respect to ABL Priority Collateral in contravention of this Agreement, it shall segregate and hold in trust and forthwith pay such Proceeds over to the ABL Agent in accordance with the terms of
Section 4.2. 
 (b) Unless and until the Discharge of Note Obligations has occurred, subject to the terms of, and the rights of
the Grantors under, the Note Documents, (i) the Notes Agent, on behalf of the Note Claimholders, shall have the sole and exclusive right to adjust settlement for any insurance policy covering the Notes Priority Collateral in the event of any
loss thereunder and to approve any award granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) affecting such Collateral; (ii) all Proceeds of any such policy and any such award (or any payments with respect to
a deed in lieu of condemnation) if in respect of the Notes Priority Collateral and to the extent required by the Note Documents shall be paid to the Notes Agent for the benefit of the Note Claimholders pursuant to the terms of the Note Documents and
thereafter, if the Discharge of Note Obligations has occurred, and subject to the rights of the Grantors under the ABL Loan Documents, to the ABL Agent for the benefit of the ABL Claimholders to the extent required under the ABL Security Documents
and then, to the extent no ABL Obligations are outstanding, to the owner of the subject property, such other Person as may be entitled thereto or as a court of competent jurisdiction may otherwise direct, and (iii) if the ABL Agent or any ABL
Claimholders shall, at any time, receive any Proceeds of any such insurance policy or any such award or payment with respect to Notes Priority Collateral in contravention of this Agreement, it shall segregate and hold in trust and forthwith pay such
Proceeds over to the Notes Agent in accordance with the terms of Section 4.2. 
 (c) To effectuate the foregoing, and to the
extent that the pertinent insurance company agrees to issue such endorsements, the Agents shall each receive separate lender’s loss payable endorsements naming themselves as loss payee and additional insured, as their interests may appear, with
respect to any policies which insure Collateral hereunder. 
 5.3. Amendments to ABL Loan Documents and Note Documents;
Refinancing. 
 (a) Subject to Sections 5.3(c) and 5.3(d), the ABL Loan Documents and Note Documents may be amended,
supplemented or otherwise modified in accordance with their terms, all without affecting the Lien subordination or other provisions of this Agreement. The ABL Obligations may be Refinanced without notice to, or the consent of, the Notes Agent or the
Note Claimholders and without affecting the Lien subordination or other provisions of this Agreement, and the Note Obligations may be Refinanced without notice to, or consent of, the ABL Agent or the ABL Claimholders and without affecting the Lien
subordination and other provisions of this Agreement so long as such Refinancing is on terms and conditions that would not violate the Note Documents or the ABL Loan Documents, each as in effect on the date hereof (or, if less restrictive to the
Issuers, as in effect on the date of such amendment or Refinancing); provided, however, that, in each case, the lenders or holders of such Refinancing debt bind themselves in a writing addressed to the Notes Agent and the Note
Claimholders or the 

  
 -30- 

 
ABL Agent and the ABL Claimholders, as applicable, to the terms of this Agreement; provided further, however, that, if such Refinancing debt is secured by a Lien on any Collateral
the holders of such Refinancing debt shall be deemed bound by the terms hereof regardless of whether or not such writing is provided. For the avoidance of doubt, the sale or other transfer of Indebtedness is not restricted by this Agreement but the
provisions of this Agreement shall be binding on all holders of ABL Obligations and Note Obligations. 
 (b) Subject to Sections
5.3(c) and 5.3(d), the ABL Agent and the Notes Agent shall each use good faith efforts to notify the other party of any written amendment or modification to the ABL Documents and Note Documents, but the failure to do so shall not create a
cause of action against the party failing to give such notice or create any claim or right on behalf of any third party. 
 (c) Without the
consent of the Notes Agent, the ABL Claimholders will not be entitled to agree (and will not agree) to any amendment to or modification of the ABL Loan Documents, whether in a Refinancing or otherwise, that is not permitted by the Indenture as in
effect on the date hereof (or, if less restrictive to the ABL Claimholders, on the date of such amendment or modification). 
 (d) Without
the consent of the ABL Agent, the Notes Agent and the Note Claimholders will not be entitled to agree (and will not agree) to any amendment to or modification of the Note Documents, whether in a Refinancing or otherwise, that is not permitted by the
ABL Credit Agreement as in effect on the date hereof (or, if less restrictive to the Note Claimholders, on the date of such amendment or modification). 

(e) So long as the Discharge of ABL Obligations has not occurred, the Notes Agent agrees that each applicable Note Security Document that
grants a Lien on any material Collateral shall include the following language (or similar language acceptable to the ABL Agent): “Notwithstanding anything herein to the contrary, the liens and security interests granted to U.S. Bank National
Association, as Trustee, pursuant to this Agreement and the exercise of any right or remedy by U.S. Bank National Association, as Trustee hereunder, are subject to the provisions of the Intercreditor Agreement dated as of December 20, 2012 (as
amended, restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), among Bank of America, N.A., as the ABL Agent, U.S. Bank National Association, as Trustee and as Notes Agent and the Grantors
(as defined in the Intercreditor Agreement) from time to time party thereto. In the event of any conflict between the terms of the Intercreditor Agreement and the terms of this Agreement, the terms of the Intercreditor Agreement shall govern and
control.” 
 (f) So long as the Discharge of Note Obligations has not occurred, the ABL Agent agrees that each applicable ABL Security
Document executed on or after the date hereof that grants a Lien on any material Collateral shall include the following language (or similar language acceptable to the Note Agent): “Notwithstanding anything herein to the contrary, the liens and
security interests granted to the Agent pursuant to this Agreement and the exercise of any right or remedy by the Agent hereunder, are subject to the provisions of the Intercreditor Agreement dated as of December 20, 2012 (as amended, restated,
supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), among the Administrative Agent, as 

  
 -31- 

 
ABL Agent, U.S. Bank National Association, as Trustee and as Notes Agent and the Grantors (as defined in the Intercreditor Agreement) from time to time party thereto. In the event of any conflict
between the terms of the Intercreditor Agreement and the terms of this Agreement, the terms of the Intercreditor Agreement shall govern and control.” 

5.4. Bailees for Perfection. 

(a) Each Agent agrees to hold that part of the Collateral that is in its possession or control (or in the possession or control of its agents
or bailees) to the extent that possession or control thereof is taken to perfect a Lien thereon (such Collateral, which shall include, without limitation, Deposit Accounts, Securities Accounts and Capital Stock, being the “Pledged
Collateral”) as (i) in the case of the ABL Agent, the collateral agent for the ABL Claimholders under the ABL Loan Documents or, in the case of the Notes Agent, the collateral agent for the Note Claimholders under the Note Documents
and (ii) gratuitous bailee for the benefit of the other Agent (such bailment being intended, among other things, to satisfy the requirements of Sections 8-301(a)(2) and 9-313(c) of the UCC) and any assignee solely for the purpose of perfecting
the security interest granted under the ABL Loan Documents and the Note Documents, respectively, subject to the terms and conditions of this Section 5.4. The Notes Agent and the Note Claimholders hereby appoint the ABL Agent as their
agent for the purposes of perfecting their security interest in all Deposit Accounts and Securities Accounts of the Issuers and the Company Subsidiaries. The ABL Agent hereby accepts such appointment and acknowledges and agrees that it shall act for
the benefit of the Notes Agent and the other Note Claimholders under each Account Agreement (other than Account Agreements with respect to any Notes Collateral Account) and that any Proceeds received by the ABL Agent under any Account Agreement
(other than Account Agreements with respect to any Notes Collateral Account) shall be applied in accordance with Article IV. In furtherance of the foregoing, each Grantor hereby grants (x) a security interest in the Pledged Collateral to
the Notes Agent for the benefit of the ABL Claimholders and (y) a security interest in the Pledged Collateral (other than securities of the Issuers or the Company Subsidiaries to the extent such security interest would require the filing of
financial statements with the Securities and Exchange Commission pursuant to Rule 3-16 of Regulation S-X under the Securities Act of 1933, as amended) to the ABL Agent for the benefit of the Note Claimholders. 

(b) Neither Agent shall have any obligation whatsoever to the other Agent, to any other ABL Claimholder, or to any other Note Claimholder to
ensure that the Pledged Collateral is genuine or owned by any of the Grantors or to preserve rights or benefits of any Person except as expressly set forth in this Section 5.4. The duties or responsibilities of the respective Agents
under this Section 5.4 shall be limited solely to holding the Pledged Collateral as bailee in accordance with this Section 5.4 and delivering the Pledged Collateral or Proceeds thereof upon a Discharge of ABL Obligations or
Discharge of Note Obligations, as applicable, as provided in paragraph (d) below. 
 (c) Neither Agent acting pursuant to this
Section 5.4 shall have by reason of the ABL Loan Documents, the Note Documents, this Agreement or any other document a fiduciary relationship in respect of the other Agent, any other ABL Claimholder or any other Note Claimholder. 

  
 -32- 

 (d) Upon the Discharge of ABL Obligations or the Discharge of Note Obligations, as applicable,
the Agent under the ABL Credit Agreement or Note Agreement, as applicable, that has been discharged shall deliver the remaining Pledged Collateral (if any) together with any necessary endorsements or assignments, first, to the other Agent to
the extent the other Obligations remain outstanding, and second, to the applicable Grantor to the extent the Discharge of ABL Obligations and the Discharge of Note Obligations have occurred (in each case, so as to allow such Person to obtain
possession or control of such Pledged Collateral) or as otherwise required by law. Each Agent further agrees to take all other action reasonably requested by the other Agent in connection with the other Agent obtaining a first-priority interest in
the Collateral or as a court of competent jurisdiction may otherwise direct. Notwithstanding anything to the contrary contained in this Agreement, any obligation of the Agent, which has been discharged, to make any delivery to the other Agent under
this Section 5.4(d) is subject to (i) the order of any court of competent jurisdiction, or (ii) any automatic stay imposed in connection with any Insolvency or Liquidation Proceeding. 

(e) Subject to the terms of this Agreement, (i) so long as the Discharge of ABL Obligations has not occurred, the ABL Agent shall be
entitled to deal with the Pledged Collateral or Collateral within its “control” in accordance with the terms of this Agreement and other ABL Loan Documents, but only to the extent that such Collateral constitutes ABL Priority Collateral,
as if the Liens of the Notes Agent on behalf of the Note Claimholders did not exist, and (ii) so long as the Discharge of Note Obligations has not occurred, the Notes Agent shall be entitled to deal with the Pledged Collateral or Collateral
within its “control” in accordance with the terms of this Agreement and other Note Documents, but only to the extent that such Collateral constitutes Notes Priority Collateral, as if the Liens of the ABL Agent on behalf of the ABL
Claimholders did not exist. 
 VI. 

INSOLVENCY OR LIQUIDATION PROCEEDINGS. 

6.1. Finance and Sale Issues. 

The Notes Agent, on behalf of the Note Claimholders, hereby agrees that, until the Discharge of ABL Obligations has occurred, if any Grantor
shall be subject to any Insolvency or Liquidation Proceeding and the ABL Agent shall desire to permit the use of “Cash Collateral” (as such term is defined in Section 363(a) of the Bankruptcy Code) constituting ABL Priority Collateral
or to permit any Grantor to obtain financing, whether from the ABL Claimholders or any other Person under Section 364 of the Bankruptcy Code or any similar Bankruptcy Law (“DIP Financing”) secured by a Lien on ABL Priority
Collateral, then any Note Claimholder will not be entitled to raise (and will not raise or support any Person in raising), but instead shall be deemed to have hereby irrevocably and absolutely waived, any objection to, and shall not otherwise in any
manner be entitled to oppose or will oppose or support any Person in opposing, such Cash Collateral use or DIP Financing (including, except as expressly provided below, that the Note Claimholders are entitled to adequate protection of their interest
in the Collateral as a condition thereto) so long as such Cash Collateral use or DIP Financing meets the following requirements: (i) the Notes Agent and the other Note Claimholders retain a Lien on the Collateral and, with respect to the Notes
Priority Collateral, with the same priority as existed prior to the commencement of the Insolvency or Liquidation Proceeding, (ii) to the extent that 

  
 -33- 

 
the ABL Agent is granted adequate protection in the form of a Lien, the Notes Agent is permitted to seek a Lien (without objection from the ABL Agent or any ABL Claimholder) on Collateral arising
after the commencement of the Insolvency or Liquidation Proceeding (so long as, with respect to ABL Priority Collateral, such Lien is junior to the Liens securing such DIP Financing and any other Liens in favor of the ABL Agent), (iii) the
terms of the Cash Collateral use or the DIP Financing require that any Lien on the Notes Priority Collateral to secure such DIP Financing is subordinate to the Lien of the Notes Agent securing the Note Obligations with respect thereto and
(iv) the terms of such DIP Financing or use of Cash Collateral do not require any Grantor to seek approval for any Plan of Reorganization that is inconsistent with this Agreement. The Notes Agent shall be required to subordinate and will
subordinate its Liens in the ABL Priority Collateral to the Liens securing such DIP Financing (and all obligations relating thereto, including any “carve-out” granting administrative priority status or Lien priority to secure repayment of
fees and expenses of professionals retained by any debtor or creditors’ committee) and, consistent with the preceding provisions of this Section 6.1, will not request adequate protection or any other relief in connection therewith
(except as expressly provided in clause (ii) above); provided, however, if the Liens securing the DIP Financing rank junior to the Liens securing the ABL Obligations, the Notes Agent shall be required to subordinate its Liens in
the ABL Priority Collateral to the Liens securing such DIP Financing. The Notes Agent, on behalf of itself and the Note Claimholders, agrees that no such Person shall provide to such Grantor any DIP Financing to the extent that the Notes Agent or
any Note Claimholder would, in connection with such financing, be granted a Lien on the ABL Priority Collateral senior to or pari passu with the Liens of the ABL Agent. The ABL Agent, on behalf of itself and the ABL Claimholders,
agrees that no such Persons shall provide to such Grantor any DIP Financing to the extent that the ABL Agent or any ABL Claimholder would, in connection with such financing, be granted a Lien on the Notes Priority Collateral senior to or pari
passu with the Liens of the Notes Agent. 
 6.2. Relief from the Automatic Stay. 

(a) Until the Discharge of ABL Obligations, the Notes Agent, on behalf of the other Note Claimholders, agrees that none of them shall seek (or
support any other Person seeking) relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the ABL Priority Collateral, without the prior written consent of the ABL Agent (given or not given in its
sole and absolute discretion), unless (i) the ABL Agent already has filed a motion (which remains pending) for such relief with respect to its interest in such ABL Priority Collateral and (ii) a corresponding motion, in the reasonable
judgment of the Notes Agent, must be filed for the purpose of preserving the Notes Agent’s ability to receive residual distributions pursuant to Section 4.1, although the Note Claimholders shall otherwise remain subject to the
restrictions in Section 3.1 following the granting of any such relief from the automatic stay. 
 (b) Until the Discharge of Note
Obligations has occurred, the ABL Agent, on behalf of the other ABL Claimholders, agrees that none of them shall seek (or support any other Person seeking) relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding
in respect of the Notes Priority Collateral (other than to the extent such relief is required to exercise its rights under Section 3.3), without the prior written consent of the Notes Agent (given or not given in its sole and absolute
discretion), unless (i) the Notes Agent already 

  
 -34- 

 
has filed a motion (which remains pending) for such relief with respect to its interest in the Notes Priority Collateral and (ii) a corresponding motion, in the reasonable judgment of the
ABL Agent, must be filed for the purpose of preserving the ABL Agent’s ability to receive residual distributions pursuant to Section 4.1, although the ABL Agent shall otherwise remain subject to the restrictions in
Section 3.2 following the granting of any such relief from the automatic stay. 
 6.3. Adequate Protection. 

(a) The Notes Agent, on behalf of itself and the Note Claimholders, agrees that none of them shall be entitled to contest and none of them
shall contest (or support any other Person contesting) (but instead shall be deemed to have hereby irrevocably, absolutely, and unconditionally waived any right): 

(i) any request by the ABL Agent or the other ABL Claimholders for relief from the automatic stay with respect to the ABL
Priority Collateral; or 
 (ii) any request by the ABL Agent or the other ABL Claimholders for adequate protection with
respect to the ABL Priority Collateral (except to the extent any such adequate protection is a payment from Notes Priority Collateral); or 

(iii) any objection by the ABL Agent or the other ABL Claimholders to any motion, relief, action or proceeding based on the ABL
Agent or the other ABL Claimholders claiming a lack of adequate protection with respect to the ABL Priority Collateral. 
 (b) The ABL Agent,
on behalf of itself and the ABL Claimholders, agrees that none of them shall be entitled to contest and none of them shall contest (or support any other Person contesting) (but instead shall be deemed to have hereby irrevocably, absolutely, and
unconditionally waived any right): 
 (i) any request by the Notes Agent or the other Note Claimholders for relief from the
automatic stay with respect to the Notes Priority Collateral, (but such relief shall not modify the rights of the ABL Agent under Section 3.3 hereof); or 

(ii) any request by the Notes Agent or the Note Claimholders for adequate protection with respect to the Notes Priority
Collateral (except to the extent any such adequate protection is a payment from ABL Priority Collateral); or 
 (iii) any
objection by the Notes Agent or the Note Claimholders to any motion, relief, action or proceeding based on the Notes Agent or the Note Claimholders claiming a lack of adequate protection with respect to the Notes Priority Collateral. 

(c) Consistent with the foregoing provisions in this Section 6.3, and except as provided in Sections 6.1 and 6.7, in
any Insolvency or Liquidation Proceeding: 
 (i) no Note Claimholder shall be entitled (and each Note Claimholder shall be
deemed to have hereby irrevocably, absolutely, and unconditionally waived any right): 

  
 -35- 

 (1) to seek or otherwise be granted any type of adequate protection with respect
to its interests in the ABL Priority Collateral (except as expressly set forth in Section 6.1 or as may otherwise be consented to in writing by the ABL Agent in its sole and absolute discretion); provided, however, subject
to Section 6.1, Note Claimholders may seek and obtain adequate protection in the form of an additional or replacement Lien on Collateral so long as (i) the ABL Claimholders have been granted adequate protection in the form of a
replacement lien on such Collateral, and (ii) any such Lien on ABL Priority Collateral (and on any Collateral granted as adequate protection for the ABL Claimholders in respect of their interest in such ABL Priority Collateral) is subordinated
to the Liens of the ABL Agent in such Collateral on the same basis as the other Liens of the Notes Agent on ABL Priority Collateral; and 

(2) to seek or otherwise be granted any adequate protection payments with respect to its interests in the Collateral from
Proceeds of ABL Priority Collateral (except as may be consented to in writing by the ABL Agent in its sole and absolute discretion) 

(ii) no ABL Claimholder shall be entitled (and each ABL Claimholder shall be deemed to have hereby irrevocably, absolutely, and
unconditionally waived any right): 
 (1) to seek or otherwise be granted any type of adequate protection in respect of Notes
Priority Collateral except as may be consented to in writing by the Notes Agent in its sole and absolute discretion; provided, however, ABL Claimholders may seek and obtain adequate protection in the form of an additional or
replacement Lien on Collateral so long as (i) the Note Claimholders have been granted adequate protection in the form of a replacement lien on such Collateral, and (ii) any such Lien on Notes Priority Collateral (and on any Collateral
granted as adequate protection for the Note Claimholders in respect of their interest in such Notes Priority Collateral) is subordinated to the Liens of the Notes Agent in such Collateral on the same basis as the other Liens of the ABL Agent on
Notes Priority Collateral; and 
 (2) to seek or otherwise be granted any adequate protection payments with respect to its
interests in the Collateral from Proceeds of Notes Priority Collateral (except as may be consented to in writing by the Notes Agent in its sole and absolute discretion) 

(d) With respect to (i) the Notes Priority Collateral, nothing herein shall limit the rights of the Notes Agent or the Note Claimholders
from seeking adequate protection with respect to their rights in the Notes Priority Collateral in any Insolvency or Liquidation Proceeding (including adequate protection in the form of a cash payment, periodic cash payments or otherwise, other than
from Proceeds of ABL Priority Collateral) so long as such request is not otherwise inconsistent with this Agreement and (ii) the ABL Priority Collateral, nothing herein shall limit the rights of the ABL Agent or the ABL Claimholders from
seeking adequate protection with respect to their rights in the ABL Priority Collateral in any Insolvency or Liquidation Proceeding (including adequate protection in the form of a cash payment, periodic cash payments or otherwise, other than from
Proceeds of Notes Priority Collateral) so long as such request is not otherwise inconsistent with this Agreement. 

  
 -36- 

 6.4. Avoidance Issues.  

If any ABL Claimholder or Note Claimholder is required in any Insolvency or Liquidation Proceeding or otherwise to turn over or otherwise pay
to the estate of the applicable Grantor any amount paid in respect of ABL Obligations or the Note Obligations, as applicable (a “Recovery”), then such ABL Claimholders or Note Claimholders shall be entitled to a reinstatement of ABL
Obligations or the Note Obligations, as applicable, with respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior
termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement. For clarity, no Claimholder which has received any payments prior to the reinstatement of the other
Claimholder’s Obligations shall be obligated to pay over or disgorge such payments to the Claimholder whose Obligations has been reinstated, unless such Claimholder is itself required in any Insolvency or Liquidation Proceeding to turn over or
pay amounts in respect of its Obligations to the estate or unless such Claimholder otherwise received any amounts in contravention of this Agreement. 

6.5. Reorganization Securities. 

Subject to the ability of the ABL Claimholders and the Note Claimholders, as applicable, to support or oppose confirmation or approval of any
Conforming Plan of Reorganization or to oppose confirmation or approval of any Non-Conforming Plan of Reorganization, as provided herein, if, in any Insolvency or Liquidation Proceeding, debt obligations of the reorganized debtor secured by Liens
upon any property of the reorganized debtor are distributed pursuant to a Plan of Reorganization, both on account of ABL Obligations and on account of Note Obligations, then, to the extent the debt obligations distributed on account of the ABL
Obligations and on account of the Note Obligations are secured by Liens upon the same property, the provisions of this Agreement will survive the distribution of such debt obligations pursuant to such plan and will apply with like effect to the debt
obligations so distributed, to the Liens securing such debt obligations and the distribution of Proceeds thereof. 
 6.6.
Post-Petition Interest. 
 (a) Neither the Notes Agent nor any Note Claimholder shall oppose or seek to challenge: 

(i) any claim by the ABL Agent or any ABL Claimholder for allowance in any Insolvency or Liquidation Proceeding of ABL Obligations consisting
of post-petition interest, fees or expenses to the extent of the value of the Lien on the ABL Priority Collateral securing any ABL Claimholder’s claim, without regard to the existence of the Lien of the Notes Agent on behalf of the Note
Claimholders on the Collateral; 
 (ii) the payment of such expenses allowed in accordance with Section 6.6(a)(i); 

or 
 (iii) the payment of such
interest and fees allowed in accordance with Section 6.6(a)(i) solely from Proceeds of ABL Priority Collateral; 

  
 -37- 

 provided that nothing contained in this Section 6.6(a) prohibits the Notes Agent on behalf
of the Note Claimholders from seeking adequate protection (to the extent it has not already done so under other provisions of this Agreement) with respect to their rights in the Notes Priority Collateral in any Insolvency or Liquidation Proceeding
if such Notes Priority Collateral is the source of payment of post-petition expenses payable to the ABL Agent or any ABL Claimholder. 
 (b)
Neither the ABL Agent nor any other ABL Claimholder shall oppose or seek to challenge: 
 (i) any claim by the Notes Agent or any Note
Claimholder for allowance in any Insolvency or Liquidation Proceeding of Note Obligations consisting of post-petition interest, fees or expenses to the extent of the value of the Lien on the Notes Priority Collateral securing any Note
Claimholder’s claim, without regard to the existence of the Lien of the ABL Agent on behalf of the ABL Claimholders on the Collateral; 

(ii) the payment of such expenses allowed in accordance with Section 6.6(b)(i); 

or 
 (iii) the payment of such interest and fees
allowed in accordance with Section 
 6.6(b)(i) solely from Proceeds of Notes Priority Collateral 

provided that nothing contained in this Section 6.6(b) prohibits the ABL Agent on behalf of the ABL Claimholders from
seeking adequate protection (to the extent it has not already done so under other provisions of this Agreement) with respect to their rights in the ABL Priority Collateral in any Insolvency or Liquidation Proceeding if such ABL Priority Collateral
is the source of payment of post-petition expenses payable to the Notes Agent or any Note Claimholder. 
 6.7. Separate Grants of
Security and Separate Classification. 
 The Notes Agent, on behalf of the Note Claimholders, and the ABL Agent on behalf of the ABL
Claimholders, acknowledge and intend that: the grants of Liens pursuant to the ABL Security Documents and the Note Security Documents constitute two separate and distinct grants of Liens, and because of, among other things, their differing rights in
the Collateral, the Note Obligations are fundamentally different from the ABL Obligations and must be separately classified in any Plan of Reorganization proposed or confirmed (or approved) in an Insolvency or Liquidation Proceeding. To further
effectuate the intent of the parties as provided in the immediately preceding sentence, if it is held that the claims of the ABL Claimholders and the Note Claimholders in respect of the Collateral constitute claims in the same class (rather than
separate classes of senior and junior secured claims), then the ABL Claimholders and the Note Claimholders hereby acknowledge and agree that all distributions shall be made as if there were separate classes of ABL Obligations and Note Obligations
against the Grantors (with the effect being that, to the extent that the aggregate value of the ABL Priority Collateral or Notes Priority Collateral is sufficient (for this purpose ignoring all claims held by the other Secured Parties for whom such
Collateral is non-priority in accordance with Section 2.1 and Section 2.2), the ABL Claimholders or the Note Claimholders, respectively, shall be entitled to receive, in addition to 

  
 -38- 

 
amounts distributed to them in respect of principal, pre-petition interest and other claims, all amounts owing in respect of post-petition interest, fees or expenses that is available from each
pool of priority Collateral for each of the ABL Claimholders and the Note Claimholders, respectively, before any distribution is made in respect of the claims held by the other Secured Parties for whom such Collateral is non-priority, with such
other Secured Parties hereby acknowledging and agreeing to turn over to the respective other Secured Parties amounts otherwise received or receivable by them to the extent necessary to effectuate the intent of this sentence, even if such turnover
has the effect of reducing the aggregate recoveries. 
 6.8. Asset Dispositions in an Insolvency or Liquidation Proceeding.

 (a) Without limiting the ABL Agent’s and the ABL Claimholders’ rights under Section 3.1(b), neither the Notes
Agent nor any other Note Claimholder shall, in any Insolvency or Liquidation Proceeding or otherwise, oppose any sale or disposition of any ABL Priority Collateral that is supported by the ABL Claimholders, and the Notes Agent and each other Note
Claimholder will be deemed to have irrevocably, absolutely, and unconditionally consented under Section 363 of the Bankruptcy Code (and otherwise) to any sale of any ABL Priority Collateral supported by the ABL Claimholders and to have released
their Liens on such assets; provided that to the extent the Proceeds of such Collateral are not applied to reduce ABL Obligations the Notes Agent shall retain a Lien on such Proceeds in accordance with the terms of this Agreement. 

(b) Without limiting the Notes Agent’s and the Note Claimholders’ rights under Section 3.2(b), neither the ABL Agent nor
any other ABL Claimholder shall, in any Insolvency Proceeding or otherwise, oppose any sale or disposition of any Notes Priority Collateral that is supported by the Note Claimholders and made subject to Section 3.3(d), and the ABL Agent
and each other ABL Claimholder will be deemed to have consented under Section 363 of the Bankruptcy Code (and otherwise) to any sale of any Notes Priority Collateral supported by the Note Claimholders and to have released their Liens on such
assets; provided that to the extent the Proceeds of such Collateral are not applied to reduce Note Obligations, the ABL Agent shall retain a Lien on such Proceeds in accordance with the terms of this Agreement; provided further
that the ABL Agent’s and the ABL Claimholders’ rights under Sections 3.3 shall survive any such sale or disposition. 

VII. 
 RELIANCE;
WAIVERS; ETC. 
 7.1. Reliance. 

Other than any reliance on the terms of this Agreement, the ABL Agent, on behalf of the ABL Claimholders, acknowledges that it and the other
ABL Claimholders have, independently and without reliance on the Notes Agent or any Note Claimholder, and based on documents and information deemed by them appropriate, made their own credit analysis and decision to enter into ABL Loan Documents and
be bound by the terms of this Agreement, and they will continue to make their own credit decision in taking or not taking any action under the ABL Loan Documents or this Agreement. The Notes Agent, on behalf of the Note Claimholders, acknowledges
that it and the other Note Claimholders have, independently and without reliance 

  
 -39- 

 
on the ABL Agent or any other ABL Claimholder, and based on documents and information deemed by them appropriate, made their own credit analysis and decision to enter into each of the other Note
Documents and be bound by the terms of this Agreement, and they will continue to make their own credit decision in taking or not taking any action under the Note Documents or this Agreement. 

7.2. No Warranties or Liability. 

The ABL Agent, on behalf of the ABL Claimholders, acknowledges and agrees that each of the Notes Agent and the Note Claimholders have made no
express or implied representation or warranty, including with respect to the execution, validity, legality, completeness, collectibility or enforceability of any of the other Note Documents, the ownership of any Collateral or the perfection or
priority of any Liens thereon. Except as otherwise provided in this Agreement, the Notes Agent and the Note Claimholders will be entitled to manage and supervise their respective loans and extensions of credit under the Note Documents in accordance
with law and as they may otherwise, in their sole discretion, deem appropriate. The Notes Agent, on behalf the Note Claimholders, acknowledges and agrees that the ABL Agent and the other ABL Claimholders have made no express or implied
representation or warranty, including with respect to the execution, validity, legality, completeness, collectibility or enforceability of any of the other ABL Loan Documents, the ownership of any Collateral or the perfection or priority of any
Liens thereon. Except as otherwise provided herein, the ABL Agent and the other ABL Claimholders will be entitled to manage and supervise their respective loans and extensions of credit under their respective ABL Loan Documents in accordance with
law and as they may otherwise, in their sole discretion, deem appropriate. The Notes Agent and the Note Claimholders shall have no duty to the ABL Agent or any of the ABL Claimholders, and the ABL Agent and the other ABL Claimholders shall have no
duty to the Notes Agent or any of the other Note Claimholders, to act or refrain from acting in a manner which allows, or results in, the occurrence or continuance of an event of default or default under any agreements with any Grantor (including
the ABL Loan Documents and the Note Documents), regardless of any knowledge thereof which they may have or be charged with. 
 7.3. No
Waiver of Lien Priorities. 
 (a) No right of the Agents, the other ABL Claimholders or the other Note Claimholders to enforce any
provision of this Agreement or any ABL Loan Document or Note Document shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of any Grantor or by any act or failure to act by such Agents, ABL Claimholders or
Note Claimholders or by any noncompliance by any Person with the terms, provisions and covenants of this Agreement, any of the ABL Loan Documents or any of the Note Documents, regardless of any knowledge thereof which the Agents or the ABL
Claimholders or Note Claimholders, or any of them, may have or be otherwise charged with. 
 (b) Without in any way limiting the generality
of the foregoing paragraph (but subject to the rights of the Grantors under the ABL Loan Documents and Note Documents and subject to the provisions of Sections 5.3(a), 5.3(c), and, as applicable, 5.3(d)), the Agents, the other
ABL Claimholders and the other Note Claimholders may, at any time and from time to time in accordance with the ABL Loan Documents and Note Documents and/or applicable law, 

  
 -40- 

 
without the consent of, or notice to, the other Agent or the ABL Claimholder or the Note Claimholders (as applicable), without incurring any liabilities to such Persons and without impairing or
releasing the Lien priorities and other benefits provided in this Agreement (even if any right of subrogation or other right or remedy is affected, impaired or extinguished thereby) do any one or more of the following: 

(i) change the manner, place or terms of payment or change or extend the time of payment of, or amend, renew, exchange,
increase or alter, the terms of any of the Obligations or any Lien or guaranty thereof or any liability of any Grantor, or any liability incurred directly or indirectly in respect thereof (including any increase in or extension of the Obligations,
without any restriction as to the tenor or terms of any such increase or extension) or otherwise amend, renew, exchange, extend, modify or supplement in any manner any Liens held by the Agents or any rights or remedies under any of the ABL Loan
Documents or the Note Documents; 
 (ii) sell, exchange, release, surrender, realize upon, enforce or otherwise deal with in
any manner and in any order any part of the Collateral (except to the extent provided in this Agreement) or any liability of any Grantor or any liability incurred directly or indirectly in respect thereof; 

(iii) settle or compromise any Obligation or any other liability of any Grantor or any security therefor or any liability
incurred directly or indirectly in respect thereof and apply any sums by whomsoever paid and however realized to any liability in any manner or order that is not inconsistent with the terms of this Agreement; and 

(iv) exercise or delay in or refrain from exercising any right or remedy against any security or any Grantor or any other
Person, elect any remedy and otherwise deal freely with any Grantor. 
 7.4. Obligations Unconditional. 

All rights, interests, agreements and obligations of the ABL Claimholders and the Note Claimholders, respectively, hereunder shall remain in
full force and effect irrespective of: 
 (a) any lack of validity or enforceability of any ABL Loan Documents or any Note
Documents; 
 (b) except, in each case, as otherwise expressly set forth in this Agreement, any change in the time, manner or
place of payment of, or in any other terms of, all or any of the ABL Obligations or Note Obligations, or any amendment or waiver or other modification, including any increase in the amount thereof, whether by course of conduct or otherwise, of the
terms of any ABL Loan Document or any Note Document; 
 (c) except as otherwise expressly set forth in this Agreement, any
exchange, release, voiding, avoidance or non-perfection of any security interest in any Collateral or any other collateral, or any amendment, waiver or other modification, whether in writing or by course of conduct or otherwise, of all or any of the
ABL Obligations or Note Obligations or any guaranty thereof; 

  
 -41- 

 (d) the commencement of any Insolvency or Liquidation Proceeding in respect of
any Grantor; or 
 (e) any other circumstances which otherwise might constitute a defense available to, or a discharge of,
any Grantor in respect of the ABL Agent, the ABL Obligations, any ABL Claimholder, the Notes Agent, the Note Obligations or any Note Claimholder in respect of this Agreement. 

VIII. 
 MISCELLANEOUS.

 8.1. Conflicts. 

In the event of any conflict between the provisions of this Agreement and the provisions of any ABL Loan Document or any Note Document, the
provisions of this Agreement shall govern and control. 
 8.2. Effectiveness; Continuing Nature of this Agreement; Severability.

 This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien
subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Claimholders may continue, at any time and without notice to the other Agent, to extend credit and other financial accommodations and lend
monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder may have
under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not
in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the
meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for
any Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect: 

(a) with respect to the ABL Agent, the ABL Claimholders and the ABL Obligations, the date of the Discharge of ABL Obligations,
subject to the rights of the ABL Claimholders under Section 6.4; and 
 (b) with respect to the Notes Agent, the
Note Claimholders and the Note Obligations, the date of the Discharge of Note Obligations, subject to the rights of the Note Claimholders under Section 6.4. 

  
 -42- 

 8.3. Amendments; Waivers. 

No amendment, modification or waiver of any of the provisions of this Agreement by the Notes Agent or the ABL Agent shall be deemed to be made
unless the same shall be in writing signed on behalf of each party hereto or its authorized agent and each waiver, if any, shall be a waiver only with respect to the specific instance involved and shall in no way impair the rights of the parties
making such waiver or the obligations of the other parties to such party in any other respect or at any other time. Notwithstanding the foregoing, no Grantor shall have any right to consent to or approve any amendment, modification or waiver of any
provision of this Agreement except to the extent its rights are directly affected. 
 8.4. Information Concerning Financial Condition
of the Issuers and Their Subsidiaries. 
 The ABL Agent and the ABL Claimholders, on the one hand, and the Notes Agent and the Note
Claimholders, on the other hand, shall each be responsible for keeping themselves informed of (a) the financial condition of the Issuers and the Company Subsidiaries and all endorsers and/or guarantors and other Grantors of the ABL Obligations
or the Note Obligations and (b) all other circumstances bearing upon the risk of nonpayment of the ABL Obligations or the Note Obligations. Neither the ABL Claimholders, on the one hand, nor the Note Claimholders, on the other hand, shall have
any duty to advise the other of information known to it or them regarding such condition or any such circumstances or otherwise. In the event that either the ABL Agent or any of the other ABL Claimholders, on the one hand, or the Notes Agent or any
of the other Note Claimholders, on the other hand, undertakes at any time or from time to time to provide any such information to any of the others, it or they shall be under no obligation, (i) to make, and shall not make, any express or
implied representation or warranty, including with respect to the accuracy, completeness, truthfulness or validity of any such information so provided, (ii) to provide any additional information or to provide any such information on any
subsequent occasion, (iii) to undertake any investigation, or (iv) to disclose any information, which pursuant to accepted or reasonable commercial finance practices, such party wishes to maintain confidential or is otherwise required to
maintain confidential. 
 8.5. Subrogation. 

(a) With respect to the value of any payments or distributions in cash, property or other assets that any of the Note Claimholders actually
pays over to the ABL Agent or the ABL Claimholders under the terms of this Agreement, the Note Claimholders shall be subrogated to the rights of the ABL Claimholders; provided, however, that the Notes Agent, on behalf of the Note
Claimholders, hereby agrees not to assert or enforce all such rights of subrogation it may acquire as a result of any payment hereunder until the Discharge of ABL Obligations has occurred. The Grantors acknowledge and agree that, to the extent
permitted by applicable law, the value of any payments or distributions in cash, property or other assets received by the Note Claimholders that are paid over to the ABL Claimholders pursuant to this Agreement shall not reduce any of the Note
Obligations. Notwithstanding the foregoing provisions of this Section 8.5(a), none of the Note Claimholders shall have any claim against any of the ABL Claimholders for any impairment of any subrogation rights herein granted to the Note
Claimholders. 

  
 -43- 

 (b) With respect to the value of any payments or distributions in cash, property or other assets
that any of the ABL Claimholders actually pays over to the Note Claimholders under the terms of this Agreement, the ABL Claimholders shall be subrogated to the rights of the Note Claimholders; provided, however, that the ABL Agent, on
behalf of the ABL Claimholders, hereby agrees not to assert or enforce all such rights of subrogation it may acquire as a result of any payment hereunder until the Discharge of Note Obligations has occurred. The Grantors acknowledge and agree that,
to the extent permitted by applicable law, the value of any payments or distributions in cash, property or other assets received by the ABL Claimholders that are paid over to the Note Claimholders pursuant to this Agreement shall not reduce any of
the ABL Obligations. Notwithstanding the foregoing provisions of this Section 8.5(b), none of the ABL Claimholders shall have any claim against any of the Note Claimholders for any impairment of any subrogation rights herein granted to
the ABL Claimholders. 
 8.6. SUBMISSION TO JURISDICTION; WAIVERS. 

(a) ALL JUDICIAL PROCEEDINGS BROUGHT AGAINST ANY PERSON ARISING OUT OF OR RELATING HERETO MAY BE BROUGHT IN ANY STATE OR FEDERAL COURT OF
COMPETENT JURISDICTION IN THE STATE, COUNTY AND CITY OF NEW YORK. BY EXECUTING AND DELIVERING THIS AGREEMENT, EACH PARTY, FOR ITSELF AND ON BEHALF OF THE NOTE CLAIMHOLDERS (IN THE CASE OF THE NOTES AGENT) AND THE ABL CLAIMHOLDERS (IN THE CASE OF THE
ABL AGENT), IRREVOCABLY: 
 (1) AGREES THAT THE ONLY NECESSARY PARTIES TO ANY AND ALL JUDICIAL PROCEEDINGS ARISING OUT OF OR
RELATING TO THIS AGREEMENT SHALL BE THE PARTIES HERETO, EXCEPT WHERE IN ANY SUCH JUDICIAL PROCEEDING RELIEF (INCLUDING INJUNCTIVE RELIEF OR THE RECOVERY OF MONEY) IS BEING SOUGHT DIRECTLY AGAINST OR FROM A PERSON THAT IS NOT A PARTY AND EXCEPT THAT,
IN ANY SUCH JUDICIAL PROCEEDINGS BETWEEN THE NOTES AGENT AND THE ABL AGENT THAT DOES NOT SEEK ANY RELIEF AGAINST OR FROM THE ISSUERS OR ANY OF THE COMPANY SUBSIDIARIES, THE ISSUERS AND THE COMPANY SUBSIDIARIES SHALL NOT BE NECESSARY PARTIES. WITHOUT
LIMITING THE GENERALITY OF THE FOREGOING, AND CONSISTENT WITH THE PROVISIONS OF SECTIONS 8.14 AND 8.17, NONE OF THE ABL CLAIMHOLDERS (OTHER THAN THE ABL AGENT) OR THE NOTE CLAIMHOLDERS (OTHER THAN THE NOTES AGENT) SHALL BE NECESSARY OR
OTHERWISE APPROPRIATE PARTIES TO ANY SUCH JUDICIAL PROCEEDINGS, UNLESS IN SUCH JUDICIAL PROCEEDING SUMS ARE BEING SOUGHT TO BE RECOVERED DIRECTLY FROM SUCH PERSONS, INCLUDING PURSUANT TO SECTION 4.2. 

(2) ACCEPTS GENERALLY AND UNCONDITIONALLY THE NONEXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS; 

(3) WAIVES ANY DEFENSE OF FORUM NON CONVENIENS; 

  
 -44- 

 (4) AGREES THAT SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH COURT
MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO THE APPLICABLE PERSON (AND IN THE CASE OF A PARTY, AT ITS ADDRESS PROVIDED IN ACCORDANCE WITH SECTION 8.7); AND 

(5) AGREES THAT SERVICE AS PROVIDED IN CLAUSE (3) ABOVE IS SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER THE APPLICABLE
PERSON IN ANY SUCH PROCEEDING IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT. 
 (b) WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT, ANY OF THE ABL LOAN DOCUMENTS OR ANY OF THE NOTE
DOCUMENTS. EACH OF THE PARTIES HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT, THE ABL LOAN DOCUMENTS AND THE NOTE DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION 8.6. 
 8.7. Notices. 

All notices permitted or required under this Agreement need be sent only to the Notes Agent and the ABL Agent, as applicable, in order to be
effective and otherwise binding on any applicable Claimholder. If any notice is sent for whatever reason to the other Note Claimholders or the ABL Claimholders, such notice shall also be sent to the applicable Agent. Unless otherwise specifically
provided herein, any notice hereunder shall be in writing and may be personally served, telexed or sent by telefacsimile or United States mail or courier service and shall be deemed to have been given when delivered in person or by overnight courier
service and signed for against receipt thereof, upon receipt of telefacsimile or telex during normal business hours, or three Business Days after depositing it in the United States certified mails (return receipt requested) with postage prepaid and
properly addressed. For the purposes hereof, the addresses of the parties hereto shall be as set forth below each party’s name on the signature pages hereto, or, as to each party, at such other address as may be designated by such party in a
written notice to all of the other parties. 
 8.8. Further Assurances. 

The ABL Agent, on behalf of the ABL Claimholders, and the Notes Agent, on behalf of the Note Claimholders, and the Grantors, agree that each of
them shall take such further action and shall execute and deliver such additional documents and instruments (in recordable form, if requested) as the ABL Agent or the Notes Agent may reasonably request to effectuate the terms of and the Lien
priorities contemplated by this Agreement. 

  
 -45- 

 8.9. APPLICABLE LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 8.10. Specific Performance. 

Each of the ABL Agent and the Notes Agent may demand specific performance of this Agreement. The ABL Agent, on behalf of itself and the ABL
Claimholders, and the Notes Agent, on behalf of itself and the Note Claimholders, hereby irrevocably waive any defense based on the adequacy of a remedy at law and any other defense which might be asserted to bar the remedy of specific performance
in any action which may be brought by the ABL Agent or the other ABL Claimholders or the Notes Agent or the other Note Claimholders, as applicable. Without limiting the generality of the foregoing or of the other provisions of this Agreement, in
seeking specific performance in any Insolvency or Liquidation Proceeding, an Agent may seek such relief as if it were the “holder” of the claims of the other Agent’s Claimholders under Section 1126(a) of the Bankruptcy Code or
otherwise had been granted an irrevocable power of attorney by the other Agent’s Claimholders. 
 8.11. Headings. 

Section headings in this Agreement are included herein for convenience of reference only and shall not constitute a part of this Agreement for
any other purpose or be given any substantive effect. 
 8.12. Counterparts. 

This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such separate
counterparts shall together constitute but one and the same instrument. In proving this Agreement in any judicial proceedings, it shall not be necessary to produce or account for more than one such counterpart signed by the party against whom such
enforcement is sought. Any signatures delivered by a party by facsimile transmission or by e-mail transmission shall be deemed an original signature hereto. 

8.13. Authorization. 

By its signature, each party hereto represents and warrants to the other parties hereto that the individual signing this Agreement on its
behalf is duly authorized to execute this Agreement. The Notes Agent hereby represents that it is authorized to, and by its signature hereon does, bind the other Note Claimholders to the terms of this Agreement. The ABL Agent hereby represents that
it is authorized to, and by its signature hereon does, bind the other ABL Claimholders to the terms of this Agreement. 

  
 -46- 

 8.14 No Third Party Beneficiaries. 

This Agreement and the rights and benefits hereof shall inure to the benefit of each of the parties hereto and its respective successors and
assigns and shall inure to the benefit of (and shall be binding upon) each of the Agents, the other ABL Claimholders and the other Note Claimholders and their respective successors and assigns. Without limiting the generality of the foregoing, each
of the Indenture, each Additional Pari Passu Notes Agreement and the amendments to ABL Security Documents shall expressly refer to this Agreement and acknowledge that its provisions shall be binding on the Notes Agent, and the other Note
Claimholders (and their respective successors and assigns) and on the ABL Agent and the other ABL Claimholders (and their respective successors and assigns), as applicable, and, in any event, this Agreement shall be binding on the Agents, the other
ABL Claimholders, and the other Note Claimholders and their respective successors and assigns as if its provisions were set forth in their entirety in the ABL Credit Agreement, the Indenture and each Additional Pari Passu Notes Agreement. 

8.14. Provisions Solely to Define Relative Rights. 

The provisions of this Agreement are and are intended solely for the purpose of defining the relative rights of the ABL Claimholders on the one
hand and the Note Claimholders on the other hand. No Grantor or any other creditor thereof shall have any rights hereunder, and no Grantor may rely on the terms hereof. Nothing in this Agreement is intended to or shall impair as between the Grantors
and the ABL Agent and the other ABL Claimholders, or as between the Grantors and the Notes Agent and the other Note Claimholders, the obligations of any Grantor, which are absolute and unconditional, to pay principal, interest, fees and other
amounts as provided in the other ABL Loan Documents and the other Note Documents, respectively, including as and when the same shall become due and payable in accordance with their terms. 

8.15. Marshalling of Assets. 

The Notes Agent, on behalf of the Note Claimholders, hereby irrevocably, absolutely, and unconditionally waives any and all rights or powers
any Note Claimholder may have at any time under applicable law or otherwise to have the ABL Priority Collateral, or any part thereof, marshaled upon any foreclosure or other enforcement of the ABL Agent’s Liens. The ABL Agent, on behalf of the
ABL Claimholders, hereby waives irrevocably, absolutely, and unconditionally any and all rights any ABL Claimholder may have at any time under applicable law or otherwise to have the Notes Priority Collateral, or any part thereof, marshaled upon any
foreclosure or other enforcement of the Notes Agent’s Liens. 
 8.16. Exclusive Means of Exercising Rights under this
Agreement. 
 The Note Claimholders shall be deemed to have irrevocably appointed the Notes Agent, and the ABL Claimholders shall be
deemed to have irrevocably appointed the ABL Agent, as their respective and exclusive agents hereunder. Consistent with such appointment, the Note Claimholders and the ABL Claimholders further shall be deemed to have agreed that only their
respective Agent (and not any individual Claimholder or group of Claimholders) shall have the exclusive right to exercise any rights, powers, and/or remedies under or in connection with this Agreement (including bringing any action to interpret or
otherwise enforce the provisions of this Agreement) or the Collateral; provided, that (i) ABL Claimholders holding obligations in respect 

  
 -47- 

 
to Bank Products or Obligations in respect of Hedging Agreements may exercise customary netting rights with respect thereto, (ii) cash collateral may be held pursuant to the terms of the ABL
Loan Documents (including any relating to Bank Products or Hedging Agreements) and any such individual ABL Claimholder may act against such Collateral, and (iii) ABL Claimholders may exercise customary rights of setoff against depository or
other accounts maintained with them. Specifically, but without limiting the generality of the foregoing, each Noteholder or group of Noteholders, and each ABL Lender or group of ABL Lenders, shall not be entitled to take or file, but instead shall
be precluded from taking or filing (whether in any Insolvency or Liquidation Proceeding or otherwise), any action, judicial or otherwise, to enforce any right or power or pursue any remedy under this Agreement (including any declaratory judgment or
other action to interpret or otherwise enforce the provisions of this Agreement) or otherwise in relation to the Collateral, except solely as provided in the proviso in the preceding sentence. 

8.17. Interpretation. 

This Agreement is a product of negotiations among representatives of, and has been reviewed by counsel to, the Notes Agent, the ABL Agent, the
Issuers, and the Company Subsidiaries and is the product of those Persons on behalf of themselves and the Note Claimholders (in the case of the Notes Agent) and the ABL Claimholders (in the case of the ABL Claimholders). Accordingly, this
Agreement’s provisions shall not be construed against, or in favor of, any party or other Person merely by virtue of that party or other Person’s involvement, or lack of involvement, in the preparation of this Agreement and of any of its
specific provisions. 
 8.18. Capacity of Notes Agent. 

U.S. Bank National Association is entering into this Agreement solely in its capacity as Trustee and Collateral Agent under the Indenture and
the rights, powers, privileges and protections afforded to the Trustee and Collateral Agent under the Indenture shall also apply to U.S. Bank National Association as the Notes Agent hereunder. The Note Claimholders have expressly authorized and
instructed the Notes Agent to execute and deliver this Agreement. 
 8.19. Termination. 

This Agreement shall terminate and be of no further force and effect upon the Discharge of the ABL Obligations or upon the Discharge of the
Note Obligations, subject to the rights of the ABL Lenders and the Noteholders, as applicable, under Section 6.4. 
 [Signature Pages
Follow] 

  
 -48- 

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

			
	ABL Agent:
	
	 Bank of America, N.A., as ABL Agent

		
	 By:
	 	 
		 	 Name:

		 	 Title:

	
	 Notice Address:

	
	 Bank of America, N.A.

	 100 Federal Street

	 MA5-100-09-09

	 Boston, MA 02110

	 Attn: James Ward

  
 Acknowledgement-1
[Intercreditor Agreement] 

 
			
	 Notes Agent:

	
	 U.S. BANK NATIONAL ASSOCIATION,
 not
in its individual capacity, but solely in its capacity as Trustee and Collateral Agent under the Indenture and Collateral Agent under the Note Documents, as Notes Agent

		
	By:	 	  

		 	Name:
		 	Title:
	
	Notice Address:
	
	 U.S. Bank National Association
 100
Wall Street—Suite 1600
 New York, New York 10005
 Attn:
Beverly A. Freeney, Vice President &
 Account Manager

  
 Acknowledgement-2
[Intercreditor Agreement] 

			
	 Acknowledged and Agreed to by:

	
	Issuers:
	
	TOPS HOLDING CORPORATION
		
	By:	 	 
		 	Name:
		 	Title:
	
	TOPS MARKETS, LLC
		
	By:	 	 
		 	Name:
		 	Title:
	
	Notice Address:
	
	 Tops Holding Corporation
 P.O. Box
1027
 Buffalo, New York 14240-1027
 Attn: Lynne A. Burgess,
General Counsel

  
 Acknowledgement-3
[Intercreditor Agreement] 

			
	Company Subsidiaries:
	
	 TOPS PT, LLC

		
	 By:
	 	 Tops Markets, LLC, its sole member

		
	By:	 	  

		 	Name:
		 	Title:
	
	TOPS GIFT CARD COMPANY, LLC
		
	By:	 	  

		 	Name:
		 	Title:
	
	Notice Address:
	
	 Tops Holding Corporation
 P.O. Box
1027
 Buffalo, New York 14240-1027
 Attn: Lynne A. Burgess,
General Counsel

  
 Acknowledgement-4
[Intercreditor Agreement]EX-4.4

 Exhibit 4.4 

EXECUTION VERSION 
  

 
  

SECURITY AGREEMENT 
 by 

TOPS HOLDING CORPORATION AND TOPS MARKETS, LLC, 

as Issuers 
 and 

THE GUARANTORS PARTY HERETO 
 FROM
TIME TO TIME 
 and 
 U.S. BANK
NATIONAL ASSOCIATION 
 as Collateral Agent 

Dated as of December 20, 2012 
  

 
  

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
	 PREAMBLE
	 		  	 	1	  
			
	 RECITALS
	 		  	 	1	  
			
	 AGREEMENT
	 		  	 	2	  
	
	 ARTICLE I
	   

	
	 DEFINITIONS AND INTERPRETATION
	   

			
	 SECTION 1.1.
	 	Definitions	  	 	2	  
	 SECTION 1.2.
	 	Interpretation	  	 	11	  
	 SECTION 1.3.
	 	Perfection Certificate	  	 	11	  
	
	 ARTICLE II
	   

	
	 [RESERVED]
	   

	
	 ARTICLE III
	   

	
	 GRANT OF SECURITY AND SECURED OBLIGATIONS
	   

			
	 SECTION 3.1.
	 	Pledge	  	 	11	  
	 SECTION 3.2.
	 	Secured Obligations	  	 	12	  
	 SECTION 3.3.
	 	Security Interest	  	 	12	  
	
	 ARTICLE IV
	   

	
	 PERFECTION; SUPPLEMENTS; FURTHER ASSURANCES;
	   

	 USE OF COLLATERAL
	   

			
	 SECTION 4.1.
	 	Delivery of Certificated Securities Collateral	  	 	13	  
	 SECTION 4.2.
	 	Perfection of Uncertificated Securities Collateral	  	 	14	  
	 SECTION 4.3.
	 	Financing Statements and Other Filings; Maintenance of Perfected Security Interest	  	 	14	  
	 SECTION 4.4.
	 	Other Actions	  	 	15	  
	 SECTION 4.5.
	 	Joinder of Additional Guarantors	  	 	19	  
	 SECTION 4.6.
	 	Supplements; Further Assurances	  	 	19	  
	
	 ARTICLE V
	   

	
	 REPRESENTATIONS, WARRANTIES AND COVENANTS
	   

			
	 SECTION 5.1.
	 	Title	  	 	20	  

  
 -i- 

							
	 	 	 	  	Page	 
	 SECTION 5.2.
	 	Limitation on Liens; Defense of Claims; Transferability of Collateral	  	 	20	  
	 SECTION 5.3.
	 	Chief Executive Office; Change of Name; Jurisdiction of Organization	  	 	20	  
	 SECTION 5.4.
	 	[Reserved]	  	 	21	  
	 SECTION 5.5.
	 	Due Authorization and Issuance	  	 	21	  
	 SECTION 5.6.
	 	No Claims	  	 	21	  
	 SECTION 5.7.
	 	No Conflicts, Consents, etc.	  	 	21	  
	 SECTION 5.8.
	 	Collateral Information	  	 	21	  
	 SECTION 5.9.
	 	Insurance	  	 	22	  
	 SECTION 5.10.
	 	Payment of Taxes; Compliance with Laws; Contested Liens; Claims	  	 	22	  
	 SECTION 5.11.
	 	Access to Collateral, Books and Records; Other Information	  	 	22	  
	
	 ARTICLE VI
	   

	
	 CERTAIN PROVISIONS CONCERNING SECURITIES COLLATERAL
	   

			
	 SECTION 6.1.
	 	Pledge of Additional Securities Collateral	  	 	23	  
	 SECTION 6.2.
	 	Voting Rights; Distributions; etc.	  	 	23	  
	 SECTION 6.3.
	 	Organizational Documents	  	 	24	  
	 SECTION 6.4.
	 	Defaults, Etc.	  	 	24	  
	 SECTION 6.5.
	 	Certain Agreements of Grantors As Issuers and Holders of Equity Interests	  	 	25	  
	
	 ARTICLE VII
	   

	
	 CERTAIN PROVISIONS CONCERNING INTELLECTUAL
	   

	 PROPERTY COLLATERAL
	   

			
	 SECTION 7.1.
	 	Grant of License	  	 	25	  
	 SECTION 7.2.
	 	Registrations	  	 	25	  
	 SECTION 7.3.
	 	No Violations or Proceedings	  	 	26	  
	 SECTION 7.4.
	 	Protection of Collateral Agent’s Security	  	 	26	  
	 SECTION 7.5.
	 	After-Acquired Property	  	 	26	  
	 SECTION 7.6.
	 	Litigation	  	 	26	  
	
	 ARTICLE VIII
	   

	
	 [RESERVED]
	   

	
	 ARTICLE IX
	   

	
	 REMEDIES
	   

			
	 SECTION 9.1.
	 	Remedies	  	 	27	  
	 SECTION 9.2.
	 	Notice of Sale	  	 	28	  

  
 -ii- 

  

							
	 	 	 	  	Page	 
	 SECTION 9.3.
	 	Waiver of Notice and Claims	  	 	29	  
	 SECTION 9.4.
	 	Certain Sales of Collateral	  	 	29	  
	 SECTION 9.5.
	 	No Waiver; Cumulative Remedies	  	 	30	  
	
	 ARTICLE X
	   

	
	 APPLICATION OF PROCEEDS
	   

			
	 SECTION 10.1.
	 	Application of Proceeds	  	 	31	  
	
	 ARTICLE XI
	   

	
	 MISCELLANEOUS
	   

			
	 SECTION 11.1.
	 	Concerning Collateral Agent	  	 	31	  
	 SECTION 11.2.
	 	Collateral Agent May Perform; Collateral Agent Appointed Attorney-in-Fact	  	 	35	  
	 SECTION 11.3.
	 	[Reserved]	  	 	35	  
	 SECTION 11.4.
	 	Continuing Security Interest; Assignment	  	 	35	  
	 SECTION 11.5.
	 	Termination; Release	  	 	36	  
	 SECTION 11.6.
	 	Modification in Writing	  	 	37	  
	 SECTION 11.7.
	 	Notices	  	 	37	  
	 SECTION 11.8.
	 	GOVERNING LAW	  	 	37	  
	 SECTION 11.9.
	 	CONSENT TO JURISDICTION; SERVICE OF PROCESS; WAIVER OF JURY TRIAL	  	 	37	  
	 SECTION 11.10.
	 	Severability of Provisions	  	 	38	  
	 SECTION 11.11.
	 	Execution in Counterparts	  	 	38	  
	 SECTION 11.12.
	 	No Release	  	 	38	  
	 SECTION 11.13.
	 	Obligations Absolute	  	 	39	  
	 SECTION 11.14.
	 	Intercreditor Agreement	  	 	39	  
	 SECTION 11.15.
	 	Permitted Additional Pari Passu Lien Obligations	  	 	40	  
	 SECTION 11.16.
	 	Incorporation by Reference	  	 	40	  
	 SECTION 11.17.
	 	Certain Directions	  	 	40	  
	 SECTION 11.18.
	 	ABL Priority Collateral	  	 	40	  

  
 -iii- 

  

					
	 	 	 	  	Page
	 SCHEDULE I
	 	Intercompany Notes	  	
	 SCHEDULE II
	 	Filings, Registrations and Recordings	  	
	 SCHEDULE III
	 	Pledged Interests	  	
	 SCHEDULE IV
	 	Certain Existing Liens	  	
			
	 EXHIBIT 1
	 	Form Supplement to Security Agreement	  	
	 EXHIBIT 2
	 	Form of Securities Pledge Amendment	  	
	 EXHIBIT 3
	 	Form of Additional Pari Passu Joinder Agreement	  	
	 EXHIBIT 4
	 	The Collateral Agent and Secured Party Acknowledgements	  	

  
 -i- 

 SECURITY AGREEMENT 

SECURITY AGREEMENT, dated as of December 20, 2012 (as amended, modified, supplemented or restated and in effect from time to time, this
“Agreement”), made by (i) TOPS HOLDING CORPORATION, a Delaware corporation (in such capacity, “Tops Holding”) (ii) TOPS MARKETS, LLC, a New York limited liability company (in such capacity, the
“Tops Markets” together with Tops Holding, the “Issuers”) and (iii) THE GUARANTORS LISTED ON THE SIGNATURE PAGES HERETO (the “Original Guarantors”) OR FROM TIME TO TIME PARTY HERETO BY
EXECUTION OF A JOINDER AGREEMENT (the “Additional Guarantors,” and together with the Original Guarantors, the “Guarantors”), as pledgors, assignors and debtors (the Issuers, together with the Guarantors, in such
capacities and together with any successors in such capacities, the “Grantors,” and each a “Grantor”), in favor of U.S. Bank National Association, in its capacity as collateral agent (together, with any successors
and assigns, in such capacity, the “Collateral Agent”) for the Secured Parties (as defined below). 
 R E
C I T A L S : 
 A. The Issuers, the Guarantors, the Collateral Agent and U.S. Bank National
Association, in its capacity as trustee (together, with any successors and assigns, in such capacity, the “Trustee”), on behalf of the holders of the Notes and Additional Notes (each as defined below) (the
“Holders”), have, in connection with the execution and delivery of this Agreement, entered into that certain indenture dated as of December 20, 2012 (as amended, amended and restated, restated, supplemented or modified from
time to time, the “Indenture”), pursuant to which the Issuers have issued or will issue $460,000,000 million principal amount of 8.875% senior secured notes due 2017 (the “Notes”). 

B. Pursuant to the Indenture, each Guarantor party hereto has unconditionally and irrevocably guaranteed, as primary obligor and not merely as
surety, to the Trustee, for the benefit of the Secured Parties the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the Notes Obligations. 

C. The Trustee has been appointed to serve as Collateral Agent under the Indenture and, in such capacity, to enter into this Agreement. 

D. Following the date hereof, if not prohibited by the Indenture, the Grantors may incur Permitted Additional Pari Passu Obligations (including
Additional Notes (as defined in the Indenture)) which are secured equally and ratably with the Notes Obligations in accordance with SECTION 11.15 of this Agreement. 

E. The Issuers and the Guarantors will receive substantial benefits from the execution, delivery and performance of the obligations under the
Indenture, the Notes and any Permitted Additional Pari Passu Lien Agreement and each is, therefore, willing to enter into this Agreement. 

F. Each Grantor is or, as to any Collateral (as hereinafter defined) acquired by such Grantor after the date hereof, will be the legal and/or
beneficial owner of the Collateral pledged by it hereunder. 

 G. This Agreement is given by each Grantor in favor of the Collateral Agent for the benefit of
the Secured Parties to secure the payment and performance in full when due of the Secured Obligations. 
 A G R E
E M E N T : 
 NOW THEREFORE, in consideration of the foregoing premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, each Grantor and the Collateral Agent hereby agree as follows: 

ARTICLE I 
 DEFINITIONS AND
INTERPRETATION 
 SECTION 1.1. Definitions. 

(a) Unless otherwise defined herein or in the Indenture, capitalized terms used herein that are defined in the UCC shall have the meanings
assigned to them in the UCC. 
 (b) Capitalized terms used but not otherwise defined herein that are defined in the Indenture shall have the
meanings given to them in the Indenture. 
 (c) The following terms shall have the following meanings: 

“ABL Agent” shall have the meaning assigned to such term in the Intercreditor Agreement. 

“ABL Obligations” shall have the meaning assigned to such term in the Intercreditor Agreement. 

“ABL Priority Collateral” shall have the meaning assigned to such term in the Intercreditor Agreement. 

“Additional Guarantors” shall have the meaning assigned to such term in the Preamble hereof. 

“Additional Pari Passu Agent” means the Person appointed to act as trustee, agent or representative for any holder of
Permitted Additional Pari Passu Obligations pursuant to any Permitted Additional Pari Passu Lien Agreement and designated as “Additional Pari Passu Agent” for such holder in an Additional Pari Passu Joinder Agreement delivered to the
Collateral Agent pursuant to SECTION 11.15, together with its successors and assigns in such capacity. 
 “Additional Pari
Passu Joinder Agreement” means an agreement substantially in the form of EXHIBIT 3 hereto. 

“Agreement” shall have the meaning assigned to such in the Preamble hereof. 

  
 2 

 “Claims” shall mean any and all property taxes and other taxes, assessments and
special assessments, levies, fees and all governmental charges imposed upon or assessed against, and all claims (including, without limitation, landlords’, carriers’, mechanics’, workmen’s, repairmen’s, laborers’,
materialmen’s, suppliers’ and warehousemen’s Liens and other claims arising by operation of law) against, all or any portion of the Collateral. 

“Collateral” shall have the meaning assigned to such term in SECTION 3.1 hereof, provided, that any reference
to “Collateral” in SECTION 11.1, SECTION 11.4, EXHIBIT 3 or EXHIBIT 4 hereto shall also refer to each Mortgaged Property. 

“Collateral Agent” shall have the meaning assigned to such term in the Preamble hereof. 

“Contracts” shall mean, collectively, with respect to each Grantor, all sale, service, performance, equipment or property
lease contracts, agreements and grants and all other contracts, agreements or grants (in each case, whether written or oral, or third party or intercompany), between such Grantor and any other party, and all assignments, amendments, restatements,
supplements, extensions, renewals, replacements or modifications thereof. 
 “Control” shall mean (i) in the case of
any Deposit Account, “control,” as such term is defined in Section 9-104 of the UCC, and (ii) in the case of any Security Entitlement, “control,” as such term is defined in Section 8-106 of the UCC. 
 “Copyrights” shall mean, collectively, with respect to
each Grantor, all copyrights (whether statutory or common Law, whether established or registered in the United States or any other country or any political subdivision thereof whether registered or unregistered and whether published or unpublished)
owned by such Grantor and all owned copyright registrations and applications made by such Grantor, including, without limitation, the registrations and applications listed in Schedule 11(b) of the Perfection Certificate, together with any and all
(i) renewals and extensions thereof, (ii) income, fees, royalties, damages, claims and payments now or hereafter due and/or payable with respect thereto, including, without limitation, damages and payments for past, present or future
infringements thereof, (iii) rights corresponding thereto throughout the world and (iv) rights to sue for past, present or future infringements thereof. 

“Deposit Accounts” shall mean, collectively, with respect to each Grantor, (i) all “deposit accounts” as such
term is defined in the UCC and all accounts and sub-accounts relating to any of such accounts and (ii) all cash, funds, checks, notes and instruments from time to time on deposit in any of the accounts or sub-accounts described in clause
(i) of this definition. 
 “Distributions” shall mean, collectively, with respect to each Grantor, all dividends,
cash, options, warrants, rights, instruments, distributions, returns of capital or principal, income, interest, profits and other property, interests (debt or equity) or proceeds, including as a result of a split, revision, reclassification or other
like change of the Pledged Securities, from time to time received, receivable or otherwise distributed to such Grantor in respect of or in exchange for any or all of the Pledged Securities or Intercompany Notes. 

  
 3 

 “Equity Interest” shall mean with respect to any Person, all of the shares of
capital stock of (or other ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such
Person, all of the securities convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or
such other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other
interests are outstanding on any date of determination. 
 “Event of Default” shall mean an “Event of Default”
under and as defined in the Indenture or any Permitted Additional Pari Passu Lien Agreement. 
 “Excluded Property” shall
mean the following: 
 (a) assets located outside the United States to the extent a Lien on such assets cannot be perfected
by the filing of UCC financing statements in the jurisdictions of organization of the Issuers and the Guarantors; 
 (b)
assets subject to Liens pursuant to clauses (a) (to the extent such Liens are either (i) described on SCHEDULE IV hereto or (ii) are described on any supplement to such SCHEDULE IV delivered by any Grantor to the
Collateral Agent at any time after the date hereof; provided that the aggregate fair market value of all assets subject to the Liens identified on any supplement to SCHEDULE IV subsequent to the date hereof shall not exceed
$1,000,000), (d), (g) (to the extent such Lien applies only to the assets acquired or leased pursuant to such Purchase Money Indebtedness or Capital Lease Obligation), (j) or (p) (as it relates to any of the foregoing) of the
definition of Permitted Liens, in each case, to the extent the documentation relating to such Liens prohibit such assets from being Collateral and only for so long as such Liens remain outstanding; 

(c) (x) the voting Equity Interests of Foreign Subsidiaries in excess of 65% of the voting rights of all such Equity
Interests in each such Foreign Subsidiary and (y) any Equity Interests of a Person that is not a Subsidiary of the Parent or the Lead Borrower to the extent that a pledge of such Equity Interests is prohibited by such Person’s Organization
Documents; 
 (d) any owned real property with an individual fair market value (measured at the Issue Date, if owned on the
Issue Date, or, at the time of acquisition thereof, if acquired after the Issue Date) not in excess of $5,000,000, and all of the Grantors’ right, title and interest in any leasehold or other non-fee simple interest in any real property of a
Grantor (whether owned on the Issue Date or acquired following the Issue Date) (other than the Lancaster Property and the Fayetteville Property); 

(e) aircraft, motor vehicles and other assets subject to certificates of title to the extent that a Lien therein cannot be
perfected by the filing of UCC financing statements in the jurisdictions of organization of the Grantors; 
 (f) any property
to the extent that the grant of a security interest therein would violate applicable Law, require a consent not obtained of any governmental authority, or constitute a breach of or default under, or result in the termination of or require a consent

  
 4 

 
not obtained under, any contract, lease, license or other agreement evidencing or giving rise to such property, or result in the invalidation of such property or provide any party to such
contract, lease, license or agreement with a right of termination of such contract, lease, license or agreement or any other remedy that materially increases (in the good faith judgment of the Parent) the costs or burden of any Grantor thereunder
with respect thereto (in each case, after giving effect to applicable provisions of the UCC or other applicable law); 
 (g)
any Equity Interests or other securities of any Subsidiary of the Parent in excess of the maximum amount of such Equity Interests or securities that could be included in the Collateral without creating a requirement pursuant to Rule 3-16 of
Regulation S-X under the Securities Act of 1933, as amended, for separate financial statements of such Subsidiary to be included in filings by Tops Holding with the SEC; 

(h) (x) deposit accounts the balance of which consists exclusively of withheld income taxes, employment taxes or amounts
required to be paid over to employee benefit plans, and (y) segregated deposit accounts constituting and the balance of which consists solely of funds set aside in connection with tax, payroll and trust accounts; 

(i) any intellectual property if the grant of a security interest therein would result in the invalidation of any
Grantor’s interest therein; 
 (j) Farm Products and As-Extracted Collateral; and 

(k) proceeds and products of any and all of the foregoing Excluded Property described in clauses (a) through
(j) above only to the extent such proceeds and products would constitute property or assets of the type described in clauses (a) through (j) above; 

provided, however, that in each case described in clause (e) of this definition, such property shall constitute “Excluded
Property” only to the extent and for so long as such contract, lease, license or other agreement or applicable Law validly prohibits the creation of a Lien on such property in favor of the Collateral Agent and, upon the termination of such
prohibition (howsoever occurring), such property shall cease to constitute “Excluded Property”. 
 “Fayetteville
Property” shall mean the land, together with the retail facility and other improvements thereon, located at 5351 N. Burdick Street, Fayetteville, New York. 

“General Intangibles” shall mean, collectively, with respect to each Grantor, all “general intangibles,” as such
term is defined in the UCC, of such Grantor and, in any event, shall include, without limitation, (i) all of such Grantor’s rights, title and interest in, to and under all insurance policies and Contracts, (ii) all know-how and
warranties relating to any of the Collateral, (iii) any and all other rights, claims, choses-in-action and causes of action of such Grantor against any other Person and the benefits of any and all collateral or other security given by any other
Person in connection therewith, (iv) all guarantees, endorsements and indemnifications on, or of, any of the Collateral, (v) all lists, books, records, correspondence, ledgers, print-outs, files (whether in printed form or stored
electronically), tapes and other papers or materials containing information relating to any of the Collateral, including, without limitation, all customer or tenant lists, identification of suppliers, data, plans, blueprints, specifications,
designs, drawings, appraisals, 

  
 5 

 
recorded knowledge, surveys, studies, engineering reports, test reports, manuals, standards, processing standards, performance standards, catalogs, research data, computer and automatic machinery
software and programs and the like, field repair data, accounting information pertaining to such Grantor’s operations or any of the Collateral and all media in which or on which any of the information or knowledge or data or records may be
recorded or stored and all computer programs used for the compilation or printout of such information, knowledge, records or data, (vi) all licenses, consents, permits, variances, certifications, authorizations and approvals, however
characterized, of any Governmental Authority (or any Person acting on behalf of a Governmental Authority) now or hereafter acquired or held by such Grantor pertaining to operations now or hereafter conducted by such Grantor or any of the Collateral
including, without limitation, building permits, certificates of occupancy, environmental certificates, industrial permits or licenses and certificates of operation and (vii) all rights to reserves, deferred payments, deposits, refunds,
indemnification of claims to the extent the foregoing relate to any Collateral and claims for tax or other refunds against any Governmental Authority relating to any Collateral. 

“Governmental Authority” means the government of the United States or any other nation, or of 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). 
 “Grantor”
shall have the meaning assigned to such term in the Preamble hereof. 
 “Guarantors” shall have the meaning assigned to
such term in the Preamble hereof. 
 “Indenture” shall have the meaning assigned to such term in the Preamble hereof. 

“Instruments” shall mean, collectively, with respect to each Grantor, all “instruments,” as such term is defined in
Article 9 of the UCC, and shall include, without limitation, all promissory notes, drafts, bills of exchange or acceptances. 

“Intellectual Property Collateral” shall mean, collectively, Patents, Trademarks, Copyrights and Licenses; provided,
however, that “Intellectual Property Collateral” shall exclude any Excluded Property. 
 “Intercompany
Notes” shall mean, with respect to each Grantor, all intercompany notes described on SCHEDULE I hereto and each intercompany note hereafter acquired by such Grantor and all certificates, instruments or agreements evidencing such
intercompany notes, and all assignments, amendments, restatements, supplements, extensions, renewals, replacements or modifications thereof to the extent permitted pursuant to the terms hereof. 

“Intercreditor Agreement” means the Intercreditor Agreement, dated as of the Issue Date, by and among the ABL Agent, the
Trustee and the Collateral Agent, as acknowledged by the Issuers and the Guarantors, as amended, modified, restated, supplemented or replaced from time to time. 

  
 6 

 “Investment Property” shall mean a security, whether certificated or
uncertificated, security entitlement, securities account, commodity contract or commodity account, excluding, however, the Securities Collateral. 

“Issuers” shall have the meaning assigned to such term in the Preamble hereof. 

“Laws” means each international, foreign, federal, state and local statute, treaty, rule, guideline, regulation, ordinance,
code and administrative or judicial precedent or authority, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and each applicable
administrative order, directed duty, request, license, authorization and permit of, and agreement with, any Governmental Authority, in each case whether or not having the force of law. 

“Lancaster Property” shall mean the land, together with the warehouse distribution center and other improvements thereon,
located at 5873/5897 Genesee Street, Lancaster, New York. 
 “Licenses” shall mean, collectively, with respect to each
Grantor, all license and distribution agreements with, and covenants not to sue, any other party with respect to any Patent, Trademark or Copyright or any other patent, trademark or copyright, whether such Grantor is a licensor or licensee,
distributor or distributee under any such license or distribution agreement, together with any and all (i) renewals, extensions and supplements thereof, (ii) income, fees, royalties, damages, claims and payments now and hereafter due
and/or payable thereunder and with respect thereto including, without limitation, damages and payments for past, present or future infringements or violations thereof and (iii) rights to sue for past, present and future violations thereof. 

“Material Adverse Effect” shall mean (a) a material adverse change in, or a material adverse effect upon, the
operations, business, properties, liabilities (actual or contingent) or financial condition of Tops Holding and its Subsidiaries taken as a whole; (b) a material impairment of the ability of the Grantors (taken as a whole) to perform their
obligations under any Note Document or Permitted Additional Pari Passu Lien Agreement to which they are parties; or (c) a material impairment of the rights and remedies (taken as a whole) of the Secured Parties under any Note Document or
Permitted Additional Pari Passu Lien Agreement or a material adverse effect upon the legality, validity, binding effect or enforceability against the Grantors (taken as a whole) of any Note Document or Permitted Additional Pari Passu Lien Agreement
to which they are parties. In determining whether any individual event would result in a Material Adverse Effect, notwithstanding that such event in and of itself does not have such effect, a Material Adverse Effect shall be deemed to have occurred
if the cumulative effect of such event and all other then existing events would result in a Material Adverse Effect. 

“Mortgage” means an agreement, including, but not limited to, a mortgage, deed of trust or any other document creating and
evidencing a Lien on a Mortgaged Property in favor of or for the benefit of the Collateral Agent, which shall be in form which is effective to create a Lien in such Mortgaged Property in favor of the Collateral Agent to secure the Secured
Obligations that is enforceable against the applicable Grantor and third parties, in each case, with such schedules and including such provisions as shall be necessary or desirable (as determined in good faith by Tops Markets) to conform such
document to applicable local law requirements or as shall be customary under applicable local law requirements. 

  
 7 

 “Mortgaged Property” means each Real Estate Asset, if any, which shall be
subject to a Mortgage delivered after the Issue Date pursuant to ARTICLE IV. 
 “Note Documents” means the Notes,
the Indenture, the Guarantees, the Registration Rights Agreement, the Security Documents, the Intercreditor Agreement and any Additional Notes to the extent constituting Permitted Additional Pari Passu Obligations. 

“Notes” shall have the meaning assigned to such term in the Preamble hereof. 

“Notes Obligations” shall have the meaning assigned to such term in the definition of “Secured Obligations.” 

“Notes Priority Collateral” shall have the meaning assigned to such term in the Intercreditor Agreement. 

“Organizational Documents” shall mean, (a) with respect to any corporation, the certificate or articles of incorporation
and the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization and operating agreement;
(c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any agreement, instrument, filing or notice with respect
thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles of formation or organization of such
entity, and (d) in each case, all shareholder or other equity holder agreements, voting trusts and similar arrangements to which such Person is a party or which is applicable to its Equity Interests and all other arrangements relating to the
control or management of such Person. 
 “Patents” shall mean, collectively, with respect to each Grantor, all patents
issued or assigned to such Grantor and all owned patent applications made by such Grantor (whether registered or recorded in the United States or any other country or any political subdivision thereof), including, without limitation, those patents,
patent applications listed in Schedule 11(a) of the Perfection Certificate, together with any and all (i) inventions and improvements claimed therein, (ii) reissues, divisions, continuations, renewals, extensions and continuations-in-part
thereof, (iii) income, fees, royalties, damages, claims and payments now or hereafter due and/or payable thereunder and with respect thereto including, without limitation, damages and payments for past, present or future infringements thereof,
(iv) rights corresponding thereto throughout the world and (v) rights to sue for past, present or future infringements thereof. 

“Perfection Certificate” shall mean that certain perfection certificate dated as of the date hereof, executed and delivered
by each Grantor in favor of the Collateral Agent for the benefit of the Secured Parties, and each other Perfection Certificate (which shall be in form and substance reasonably acceptable to the Collateral Agent) executed and delivered by the
applicable Issuer or Guarantor in favor of the Collateral Agent for the benefit of the Secured Parties contemporaneously with the execution and delivery of a Joinder Agreement executed in accordance with SECTION 4.5 hereof, in each case, as
the same may be amended, amended and restated, restated, supplemented or otherwise modified from time to time in accordance with the Indenture and each Permitted Additional Pari Passu Lien Agreement. 

  
 8 

 “Permitted Additional Pari Passu Lien Agreement” shall mean an indenture, credit
agreement or other agreement under which any Permitted Additional Pari Passu Obligations (other than Additional Notes) are incurred and any notes or other instruments representing such Permitted Additional Pari Passu Obligations, as the same may be
amended, restated, supplemented or otherwise modified from time to time. 
 “Permitted Additional Pari Passu Obligations”
shall have the meaning assigned to such term in the Indenture. 
 “Pledged Interests” shall mean, collectively, with
respect to each Grantor, all Equity Interests of whatever class of any issuer now held or hereafter acquired by such Grantor, including, without limitation, all shares of capital stock and other Equity Interests of the issuers described in
SCHEDULE III hereto, together with all rights, privileges, authority and powers of such Grantor relating to such Equity Interests issued by any such issuer under the organizational documents of any such issuer, and the certificates,
instruments and agreements representing such Equity Interests and any and all interest of such Grantor in the entries on the books of any financial intermediary pertaining to such Equity Interests, from time to time acquired by such Grantor in any
manner; provided, however, that “Pledged Interests” shall exclude any Excluded Property. 
 “Pledged
Securities” shall mean, collectively, the Pledged Interests and the Successor Interests. 
 “Proceeds”: all
“proceeds” as such term is defined in the UCC and, in any event, shall include, without limitation, all dividends or other income from the Pledged Securities, collections thereon or distributions or payments with respect thereto. 

“Real Estate Assets” means the Lancaster Property and the Fayetteville Property and at any time of determination, any
interest (fee, leasehold or otherwise) then owned by the Issuers or any Guarantor in any real property, provided, however, that “Real Estate Assets” shall exclude any Excluded Property. 

“Registration Rights Agreement” shall have the meaning assigned to such term in the Indenture. 

“Required Secured Parties” shall mean the holders of a majority in aggregate outstanding or committed principal amount of
(i) the Notes and (ii) any Indebtedness constituting Permitted Additional Pari Passu Obligations, voting as a single class, in each case, excluding any Notes Obligations or Permitted Additional Pari Passu Obligations that are required to
be disregarded for voting purposes under the Indenture or the applicable Permitted Additional Pari Passu Lien Agreement. 
 “Secured
Obligations” shall mean any principal, premium, interest (including any interest, fees and expenses accruing subsequent to the filing of a petition in bankruptcy, reorganization or similar proceeding at the rate provided for in the
documentation with respect thereto, 

  
 9 

 
whether or not such interest is an allowed claim under applicable state, federal or foreign law), penalties, fees, indemnifications, reimbursements (including reimbursement obligations with
respect to letters of credit and banker’s acceptances), damages and other liabilities, and guarantees of payment of such principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities, and any fees or
expenses owed, by any Grantor, that are payable or arising under any of (i) the Indenture and the Notes (other than any Additional Notes and provisions in the Indenture relating solely to such Additional Notes, except to the extent constituting
Permitted Additional Pari Passu Obligations) or any other Notes Documents, (ii) any Additional Notes to the extent constituting Permitted Additional Pari Passu Obligations and documentation in the Indenture relating solely to such Additional
Notes (together with clause (i), collectively, the “Notes Obligations”) and (iii) any Permitted Additional Pari Passu Lien Agreement and any other documentation relating to the Permitted Additional Pari Passu Obligations
incurred thereunder; provided that obligations in respect of Permitted Additional Pari Passu Obligations (other than obligations with respect to Additional Notes) shall not constitute “Secured Obligations” unless the Additional Pari
Passu Agent for the holders of such Permitted Additional Pari Passu Obligations has executed and delivered to the Collateral Agent an Additional Pari Passu Joinder Agreement in the form of EXHIBIT 3 hereto. 

“Secured Parties” shall mean, collectively, the Collateral Agent, the Trustee, each Additional Pari Passu Agent, the Holders,
the holders of any Permitted Additional Pari Passu Obligations, and any other holders of Secured Obligations. 
 “Securities
Act” means the Securities Exchange Act of 1934, as amended, and the applicable regulations promulgated by the Securities and Exchange Commission pursuant to such Act. 

“Securities Collateral” shall mean, collectively, the Pledged Securities, the Intercompany Notes and the Distributions. 

“Security Documents” shall have the meaning assigned to such term in the Indenture. 

“Successor Interests” shall mean, collectively, with respect to each Grantor, all shares of each class of the capital stock
of the successor corporation or interests or certificates of the successor limited liability company, partnership or other entity owned by such Grantor (unless such successor is such Grantor itself) formed by or resulting from any consolidation or
merger in which any Person listed in Schedule 1(a) of the Perfection Certificate is not the surviving entity; provided, however, that “Successor Interests” shall exclude any Excluded Property. 

“Tops Holding” shall have the meaning assigned to such term in the Preamble hereof. 

“Tops Markets” shall have the meaning assigned to such term in the Preamble hereof. 

  
 10 

 “Trademarks” shall mean, collectively, with respect to each Grantor, all
trademarks (including service marks), certification marks, trade dress, uniform resource locations (URLs), domain names, corporate names and trade names, whether registered or unregistered, owned by or assigned to such Grantor and all registrations
and applications for the foregoing (whether statutory or common Law and whether established or registered in the United States or any other country or any political subdivision thereof), together, in each case, with the goodwill exclusively
symbolized thereby, including, without limitation, the registrations and applications listed in Schedule 11(a) of the Perfection Certificate, and together with any and all (i) extensions and renewals thereof, (ii) income, fees, royalties,
damages and payments now and hereafter due and/or payable thereunder and with respect thereto, including, without limitation, damages, claims and payments for past, present or future infringements thereof, and (iii) rights corresponding thereto
throughout the world and (iv) rights to sue for past, present and future infringements thereof. 
 “UCC” or
“Uniform Commercial Code” means the Uniform Commercial Code as in effect from time to time in the State of New York; provided, however, that if a term is defined in Article 9 of the Uniform Commercial Code differently
than in another Article thereof, the term shall have the meaning set forth in Article 9; provided further that, if by reason of mandatory provisions of Law, perfection, or the effect of perfection or non-perfection, of a security
interest in any Collateral or the availability of any remedy hereunder is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, “Uniform Commercial Code” means the Uniform Commercial Code
as in effect in such other jurisdiction for purposes of the provisions hereof relating to such perfection or effect of perfection or non-perfection or availability of such remedy, as the case may be. 

SECTION 1.2. Interpretation. The rules of interpretation specified in the Credit Agreement shall be applicable to this Agreement. 

SECTION 1.3. Perfection Certificate. The Collateral Agent and each Grantor agree that the Perfection Certificate and all descriptions
of Collateral, schedules, amendments and supplements thereto are and shall at all times remain a part of this Agreement. 
 ARTICLE II 

[RESERVED] 
 ARTICLE III 

GRANT OF SECURITY AND SECURED OBLIGATIONS 

SECTION 3.1. Pledge. As collateral security for the payment and performance in full of all the Secured Obligations, each Grantor hereby
pledges and grants to the Collateral Agent, for its own benefit and for the benefit of the other Secured Parties, a Lien on and security interest in and to all of the right, title and interest of such Grantor in, to and under all personal property
and interests in property, wherever located, and whether now existing or hereafter arising or acquired from time to time (collectively, the “Collateral”), including, without limitation: 

(a) all Accounts; 

(b) all Equipment, Goods, Inventory and Fixtures; 

  
 11 

 (c) all Documents, Instruments and Chattel Paper; 

(d) all Letters of Credit and Letter-of-Credit Rights; 

(e) all Securities Collateral; 

(f) all Investment Property; 

(g) all Intellectual Property Collateral; 

(h) the Commercial Tort Claims described in Schedule 12 of the Perfection Certificate; 

(i) all General Intangibles; 

(j) all Deposit Accounts, the Collateral Account and any Trust Monies; 

(k) all Supporting Obligations; 

(l) all books and records relating to the Collateral; and 

(m) to the extent not covered by clauses (a) through (l) of this sentence, all other personal property of such
Grantor, whether tangible or intangible and all Proceeds and products of each of the foregoing and all accessions to, substitutions and replacements for, and rents, profits and products of, each of the foregoing, any and all proceeds of any
insurance, indemnity, warranty or guaranty payable to such Grantor from time to time with respect to any of the foregoing. 

Notwithstanding anything to the contrary contained in clauses (a) through (m) above, the security interest created by this Agreement
shall not extend to, and the term “Collateral” shall not include, any Excluded Property. 
 SECTION 3.2. Secured
Obligations. This Agreement secures, and the Collateral is collateral security for, the payment and performance in full when due of the Secured Obligations. 

SECTION 3.3. Security Interest. 

(a) Each Grantor hereby irrevocably agrees to file in any relevant jurisdiction in the United States any initial financing statements
(including fixture filings) and amendments thereto that contain the information required by Article 9 of the Uniform Commercial Code of each applicable jurisdiction in the United States for the filing of any financing statement or amendment relating
to the Collateral to the extent necessary to perfect the Collateral Agent’s Security Interest in the Collateral to the extent such security interest may be perfected by the filing of financing statements under the UCC, including, without
limitation, (i) whether such Grantor is an organization, the type of organization and any organizational identification number issued to such Grantor, (ii) a description of the Collateral (which Collateral can be described as “all
assets of the Grantor, wherever located, whether now owned or hereafter acquired” or words of similar 

  
 12 

 
effect) and (iii) in the case of a financing statement filed as a fixture filing, a sufficient description of the real property to which such Collateral relates. Each Grantor agrees to
provide all information described in the immediately preceding sentence to the Collateral Agent promptly upon request. 
 Without limiting
the obligation of the Grantors set forth in the two preceding sentences, and without imposing any obligation on the Collateral Agent, each Grantor hereby authorizes the Collateral Agent, and appoints the Collateral Agent as its attorney-in-fact, to
file in any relevant jurisdiction in the United States any such initial financing statements and amendments thereto relating to the Collateral as the Collateral Agent deems necessary or desirable to perfect, preserve and protect the Collateral
Agent’s Security Interests in the Collateral. 
 (b) Each Grantor hereby ratifies its authorization for the Collateral Agent to file in
any relevant jurisdiction in the United States any initial financing statements or amendments thereto relating to the Collateral if filed prior to the date hereof. 

(c) Each Grantor hereby agrees to make filings with the United States Patent and Trademark Office (the “USPTO”) and United
States Copyright Office (the “USCO”) (or any successor office) or other reasonably necessary documents (as determined by Tops Holding in good faith) for the purpose of perfecting, confirming, continuing, enforcing or protecting the
security interest granted by such Grantor hereunder in any Intellectual Property Collateral, with the signature of such Grantor, and naming such Grantor, as debtor, and the Collateral Agent, as secured party; provided, however, that no
such filings shall be made with respect to any Excluded Property. 
 (d) The parties hereto agree that notwithstanding any provision of this
Agreement to the contrary, no Grantor shall be required to take any actions or make any filings with respect to its assets located outside of the United States, other than the filing of UCC financing statements in its jurisdiction of organization.

 ARTICLE IV 
 PERFECTION;
SUPPLEMENTS; FURTHER ASSURANCES; 
 USE OF COLLATERAL 

SECTION 4.1. Delivery of Certificated Securities Collateral. Each Grantor represents and warrants that all certificates, agreements or
instruments representing or evidencing the Securities Collateral in existence on the date hereof, other than Equity Interests of any Person that is not a Subsidiary of the Issuers with an aggregate market value of less than $2,000 and Equity
Interests in Topco Holdings Inc., a cooperative incorporated in the State of Wisconsin (“Topco Holdings, Inc.”), have been delivered to the Collateral Agent, in suitable form for transfer by delivery or accompanied by duly executed
instruments of transfer or assignment in blank and that the Collateral Agent has a perfected security interest therein, subject only to Permitted Liens. Each Grantor hereby agrees that all certificates, agreements or instruments representing or
evidencing Securities Collateral acquired by such Grantor after the date hereof, shall promptly (and in any event within 30 days) upon receipt thereof by such Grantor be delivered to and held by or on behalf of the Collateral Agent. All certificated
Securities Collateral, other than Equity 

  
 13 

 
Interests of any Person that is not a Subsidiary of the Issuers with an aggregate market value of less than $2,000 and Equity Interests in Topco Holdings Inc., shall be in suitable form for
transfer by delivery or shall be accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance reasonably satisfactory to the Collateral Agent and, prior to the Discharge of ABL Obligations (as defined in the
Intercreditor Agreement), the ABL Agent. The Collateral Agent shall have the right, at any time upon the occurrence and during the continuance of any Event of Default, to endorse, assign or otherwise transfer to or register in the name of the
Collateral Agent or any of its nominees or endorse for negotiation any or all of the Securities Collateral, without any indication that such Securities Collateral is subject to the security interest hereunder. 

SECTION 4.2. Perfection of Uncertificated Securities Collateral. Each Grantor represents and warrants that the Collateral Agent has a
perfected security interest in all uncertificated Pledged Securities pledged by it hereunder that is in existence on the date hereof, subject only to Permitted Liens, and that the applicable Organization Documents do not require the consent of the
other shareholders, members, partners or any other Person to permit the Collateral Agent or its designee to be substituted for the applicable Grantor as a shareholder, member, partner or other equity owner, as applicable, thereto. Each Grantor
hereby agrees that if any of the Pledged Securities are at any time not evidenced by certificates of ownership, then each applicable Grantor shall, to the extent permitted by applicable Law and upon the request of the Collateral Agent, cause such
pledge to be recorded on the equityholder register or the books of the issuer, execute customary pledge forms or other documents necessary or reasonably requested to complete the pledge and give the Collateral Agent the right to transfer such
Pledged Securities to the extent that such transfer is permitted under the terms hereof. 
 SECTION 4.3. Financing Statements and Other
Filings; Maintenance of Perfected Security Interest. UCC Financing Statements or other appropriate filings, recordings or registrations containing a description of the Collateral (including, without limitation, the UCC Financing Statements
identified on SCHEDULE II hereto) have been or will be timely filed in each governmental, municipal or other office in the United States (or any political subdivision thereof) as is necessary to publish notice of and protect the validity of
and to establish a legal, valid and perfected security interest in favor of the Collateral Agent (for the benefit of the Secured Parties) in respect of all Collateral in which the Security Interest may be perfected by filing, recording or
registration in the United States (or any political subdivision thereof) and no further or subsequent filing, refiling, recording, rerecording, registration or re-registration is necessary in any such jurisdiction, except as provided under
applicable Law with respect to the filing of continuation statements or as a result of any change in a Grantor’s name or jurisdiction of incorporation or formation or under any other circumstances under which, pursuant to the UCC, filings
previously made have become misleading or ineffective in whole or in part. Each Grantor agrees that, at the sole cost and expense of the Grantors, (i) such Grantor will maintain the security interest created by this Agreement in the Collateral
as a perfected security interest having the priority set forth in the Intercreditor Agreement and shall defend such security interest against the claims and demands of all Persons (other than with respect to Permitted Liens), and (ii) at any
time and from time to time, upon the written request of the Collateral Agent, such Grantor shall promptly and duly execute and deliver, and file and have recorded, such further instruments and documents and take such further action as the Collateral
Agent may reasonably deem necessary for the purpose of obtaining or preserving the full benefits of this Agreement and the rights 

  
 14 

 
and powers herein granted, including the filing of any financing statements, continuation statements and other documents (including this Agreement) under the UCC (or other applicable Laws) in
effect in any United States jurisdiction with respect to the security interest created hereby and the execution and delivery of Control Agreements, all in form reasonably satisfactory to the Collateral Agent and in such offices (including, without
limitation, the USPTO and the USCO) wherever required by applicable Law to perfect, continue and maintain a valid, enforceable security interest in the Collateral as provided herein and to preserve the other rights and interests granted to the
Collateral Agent hereunder, as against third parties (other than with respect to Permitted Liens), with respect to the Collateral. 

SECTION 4.4. Other Actions. In order to further insure the attachment, perfection and priority of, and the ability of the Collateral
Agent to enforce, the Collateral Agent’s security interest in the Collateral, each Grantor represents, warrants and agrees, in each case at such Grantor’s own expense, with respect to the following Collateral that: 

(a) Instruments and Tangible Chattel Paper. As of the date hereof (i) no amount payable under or in connection with
any of the Collateral is evidenced by any Instrument or Tangible Chattel Paper other than such Instruments and Tangible Chattel Paper listed in Schedule 10 of the Perfection Certificate and (ii) each Instrument and each item of Tangible Chattel
Paper with an individual face value in excess of $500,000 (or, with respect to all such Instruments or Chattel Paper, an aggregate face value in excess of $2,500,000) listed in Schedule 10 of the Perfection Certificate has been properly endorsed,
assigned and delivered to (i) the Collateral Agent, to the extent that the same constitutes Notes Priority Collateral, and (ii) the ABL Agent, to the extent that the same constitutes ABL Priority Collateral, accompanied by instruments of
transfer or assignment duly executed in blank. If any amount payable under or in connection with any of the Collateral shall be evidenced by any Instrument or Tangible Chattel Paper with an individual face value in excess of $500,000 (or, with
respect to all such Instruments or Chattel Paper, an aggregate face value in excess of $2,500,000), the Grantor acquiring such Instrument or Tangible Chattel Paper shall forthwith endorse, assign and deliver the same (i) if the same constitutes
Notes Priority Collateral, to the Collateral Agent (with copies to the ABL Agent), and (ii) if the same constitutes ABL Priority Collateral, to the ABL Agent (with copies to the Collateral Agent), accompanied by such instruments of transfer or
assignment duly executed in blank. 
 (b) Investment Property. 

(i) If any Grantor shall at any time hold or acquire any certificated securities constituting Investment Property (other than
any Excluded Property, Equity Interests of any Person that is not a Subsidiary of the Issuers with an aggregate market value of less than $2,000 and Equity Interests in Topco Holdings Inc.), such Grantor shall promptly: endorse, assign and deliver
the same to the Collateral Agent, accompanied by such instruments of transfer or assignment duly executed in blank, all in form and substance reasonably satisfactory to the Collateral Agent. If any securities now or hereafter acquired by any Grantor
constituting Investment Property, other than any Excluded Property, are uncertificated and are issued to such Grantor or its nominee directly by the issuer thereof, such Grantor shall promptly notify the Collateral Agent thereof and, pursuant to an
agreement in form reasonably satisfactory to the Collateral Agent either cause the issuer to agree to comply with instructions as to such securities from the Collateral Agent or arrange for the Collateral Agent to become the registered owner of the
securities. 

  
 15 

 (ii) As between the Collateral Agent and the Grantors, the Grantors shall bear
the investment risk with respect to the Investment Property and Pledged Securities, and the risk of loss of, damage to, or the destruction of the Investment Property and Pledged Securities, whether in the possession of, or maintained as a security
entitlement or deposit by, or subject to the control of, the Collateral Agent, a Securities Intermediary, any Grantor or any other Person. 

(c) Commercial Tort Claims. As of the date hereof, it holds no Commercial Tort Claims other than those listed in
Schedule 12 of the Perfection Certificate. If any Grantor shall at any time hold or acquire a Commercial Tort Claim having a value in excess of $2,500,000, such Grantor shall immediately notify the Collateral Agent in writing signed by such Grantor
of the brief details thereof and grant to the Collateral Agent in such writing a security interest therein and in the Proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to
the Collateral Agent. 
 (d) Post-Closing Real Estate Collateral; After-Acquired Real Estate Collateral. 

(i) Within 120 days after the Issue Date, the Collateral Agent shall have received each of the following documents with respect
to the Lancaster Property and the Fayetteville Property, which shall be reasonably satisfactory in form to the Collateral Agent. 

(A) Insurance. Policies or certificates of insurance covering the Collateral and Mortgaged Property of the Issuers and
the Guarantors, for the benefit of the Collateral Agent, as additional insured and loss payee and mortgagee and shall otherwise bear endorsements of the character reasonably acceptable to the Collateral Agent. 

(B) Mortgage. Fully executed counterparts of each Mortgage which Mortgage shall cover Mortgaged Property, together with
evidence that counterparts of such Mortgage have been delivered to any nationally recognizable title insurance company as shall be retained by Tops Holding (the “Title Company”) for recording in all places to the extent reasonably
necessary to effectively create a valid and enforceable first priority mortgage lien on the Mortgaged Property in favor of the Collateral Agent for its benefit and the benefit of the Secured Parties, securing the Secured Obligations (provided
that in jurisdictions that impose mortgage recording taxes, such Mortgage shall not secure indebtedness in an amount exceeding 100% of the fair market value of the Mortgaged Property, as reasonably determined, in good faith, by Tops Holding). 

  
 16 

 (C) Counsel Opinions. Opinions addressed to the Collateral Agent, of
(i) local counsel in the jurisdiction where the Mortgaged Property is located covering customary matters and (ii) counsel for the Issuers regarding due authorization, execution and delivery of the Mortgages. 

(D) Title Insurance. With respect to each Mortgage encumbering Mortgaged Property, a policy of title insurance (or
commitment to issue such a policy having the effect of a policy of title insurance) insuring (or committing to insure) the lien of such Mortgage as a valid and enforceable first priority mortgage or deed of trust lien on the Mortgaged Property
described therein, in an amount not less than 100% of the fair market value of the Mortgaged Property as reasonably determined, in good faith, by Tops Holding (each such policy, the “Mortgage Policy”) issued by such Title Company,
which reasonably assures that the Mortgage on such Mortgaged Property is a valid and enforceable mortgage lien on the Mortgaged Property, free and clear of all defects and encumbrances except liens with junior priority subject only to the Permitted
Liens set forth in clauses (c)(1), (2), (5), (7) and (h) of the definition of “Permitted Lien” in the Indenture; provided, however, that in the case of clauses (c)(1), (2) (except in the case of taxes which are
not yet due and payable) and (7), the Issuers shall bond over or take any other action reasonably necessary or required by the Title Company to delete or insure over any exception relating thereto, and such other liens as shall be reasonably
acceptable to the Collateral Agent and shall include such title endorsements as the Collateral Agent shall reasonably request, to the extent available at commercially reasonable rates (excluding endorsements or coverage related to creditors’
rights). 
 (E) Survey. Survey of each Mortgaged Property (and all improvements thereon) which is
(a) (i) prepared by a surveyor or engineer licensed to perform surveys in the jurisdiction where such Mortgaged Property is located, (ii) dated (or redated) not earlier than six months prior to the date of delivery thereof unless
there shall have occurred within six months prior to such date of delivery any exterior construction on the site of such Mortgaged Property or any easement, right of way or other interest in the Mortgaged Property has been granted or become
effective through operation of law or otherwise with respect to such Mortgaged Property which, in either case, can be depicted on a survey, in which events, as applicable, such survey shall be dated (or redated) after the completion of such
construction or if such construction shall not have been completed as of such date of delivery, not earlier than 20 days prior to such date of delivery, or after the grant or effectiveness of any such easement, right of way or other interest in
the Mortgaged Property, (iii) certified by the surveyor to the Collateral Agent and the Title Company, (iv) complying in all respects with the minimum detail requirements of the American Land Title Association as such requirements are in
effect on the date of preparation of such survey and (v) sufficient for the Title Company to remove all standard survey exceptions from the title insurance policy (or commitment) relating to such Mortgaged Property and issue the endorsements of
the type required by clause (D) or otherwise acceptable to the Collateral Agent. 

  
 17 

 (F) Fixture filings. Proper fixture filings under the Uniform Commercial
Code on Form UCC-1 for filing under the Uniform Commercial Code in the appropriate jurisdiction in which such Mortgaged Property is located, to the extent reasonably necessary in the jurisdiction in which the Mortgaged Property is located, to
perfect the security interests in fixtures purported to be created by the Mortgages in favor of the Collateral Agent for its benefit and the benefit of the Secured Parties. 

(G) Required Consents. With respect to each Mortgaged Property, the Issuers shall make commercially reasonable efforts
(which shall not include the commencement of litigation or require the payment of any sum of money unless such payment is expressly set forth in the agreement under which consent is sought) to obtain such consents, approvals, amendments,
supplements, estoppels, tenant subordination agreements or other instruments, as necessary, in order for the owner or holder of the fee or leasehold interest constituting such Mortgaged Property to grant the Lien contemplated by the Mortgage. 

(H) Mortgaged Property Indemnification. With respect to the Mortgaged Property, such affidavits, certificates,
instruments of indemnification and other items (including a so-called “gap” indemnification) as shall be reasonably required to induce the Title Company to issue the Mortgage Policy and endorsements contemplated above. 

(I) Releases. Evidence of the release of each of the Mortgages encumbering the Property and the Fayetteville Property.

 (J) Collateral Fees and Expenses. Evidence of payment by the Issuers of all Mortgage Policy premiums, search and
examination charges, mortgage recording taxes, fees, charges, costs and expenses required for the recording of the Mortgage, fixture filings and issuance of the Mortgage Policy referred to above. 

(ii) In the event that following the Issue Date, any Grantor shall acquire any fee simple ownership interest in any Real Estate
Asset (except to the extent subject to a Lien permitted by clauses (d), (g), (j) or (p) (as it relates to any of the foregoing) of the definition of “Permitted Liens” in the Indenture to the extent the documentation relating to
such Lien prohibits the granting of a Lien thereon to secure the Secured Obligations) with a Fair Market Value in excess of $5,000,000 as of the date of acquisition (a “Specified Real Property”), such Grantor shall provide a
Mortgage in favor of the Collateral Agent in such Specified Real Property within 120 days following the date of acquisition thereof. In the event that any Permitted Additional Pari Passu Obligations are incurred following the date any Mortgage is
provided, the Grantors shall notify the Collateral Agent thereof in writing and within 120 days following such incurrence take all such action as may be reasonably required to amend each then existing Mortgage in order to ensure that such Permitted
Additional Pari Passu Obligations are secured by such Mortgage. In connection with the provision of any new Mortgage, the related Grantors will, within 120 days, provide all items listed in clauses (A) through (I) of this SECTION
4.4 (each in form and substance reasonably satisfactory to the Collateral Agent). In connection with 

  
 18 

 
the provision of any amendment to any Mortgage pursuant to this SECTION 4.4, the related Grantors will, within 120 days, provide a UCC-3 Amendment (if applicable), a title insurance
datedown endorsement or new policy if such endorsement is not available, local counsel opinions and evidence of insurance (each in form reasonably satisfactory to the Collateral Agent). 

SECTION 4.5. Joinder of Additional Guarantors. The Grantors shall cause each direct or indirect Subsidiary (whether by acquisition or
creation) of any Grantor that is required to become a party to this Agreement pursuant to Section 4.08 of the Indenture and/or a similar provision of any Permitted Additional Pari Passu Lien Agreement to execute and deliver in favor of the
Collateral Agent a supplement to this Agreement in the form of EXHIBIT 1 hereto and, upon such execution and delivery, such Subsidiary shall constitute a “Guarantor” and a “Grantor” for all purposes hereunder with the same
force and effect as if originally named as a Guarantor, as applicable, and Grantor herein. The rights and obligations of each Grantor hereunder shall remain in full force and effect notwithstanding the addition of any new Guarantor and Grantor as a
party to this Agreement. 
 SECTION 4.6. Supplements; Further Assurances. Each Grantor shall take such further actions, and execute
and deliver to the Collateral Agent such additional Mortgages, assignments, agreements, supplements, powers and instruments as are necessary or appropriate, wherever required by Law, in order to perfect, preserve and protect the security interest in
the Collateral and Mortgaged Property as provided herein and the rights and interests granted to the Collateral Agent hereunder, to carry into effect the purposes hereof or better to assure and confirm unto the Collateral Agent or permit the
Collateral Agent to exercise and enforce its rights, powers and remedies hereunder with respect to any Collateral or Mortgaged Property. Without limiting the generality of the foregoing, each Grantor shall make, execute, endorse, acknowledge, file
or re-file and/or deliver to the Collateral Agent from time to time upon reasonable request such lists, descriptions and designations of the Collateral, copies of warehouse receipts, receipts in the nature of warehouse receipts, bills of lading,
documents of title, vouchers, invoices, schedules, confirmatory assignments, supplements, additional security agreements, conveyances, financing statements, transfer endorsements, powers of attorney, certificates, reports and other assurances or
instruments. If an Event of Default has occurred and is continuing, the Collateral Agent may institute and maintain, in its own name or in the name of any Grantor, such suits and proceedings as the Collateral Agent may be advised by counsel shall be
necessary or expedient to prevent any impairment of the security interest in or the perfection thereof in the Collateral. All of the foregoing shall be at the sole cost and expense of the Grantors. The Grantors and the Collateral Agent acknowledge
that this Agreement is intended to grant to the Collateral Agent, for the benefit of the Secured Parties, a security interest in and Lien upon the Collateral and shall not constitute or create a present assignment of any of the Collateral. 

  
 19 

 ARTICLE V 

REPRESENTATIONS, WARRANTIES AND COVENANTS 

Each Grantor represents, warrants and covenants as follows: 

SECTION 5.1. Title. No financing statement or other public notice with respect to all or any part of the Collateral is on file or of
record in any public office, except such as have been filed in favor of the Collateral Agent pursuant to this Agreement or as are permitted by the Indenture and each Permitted Additional Pari Passu Lien Agreement. No Person other than the Collateral
Agent or, subject to the Intercreditor Agreement, the ABL Agent has control or possession of all or any part of the Collateral, except as permitted by the Indenture and each Permitted Additional Pari Passu Lien Agreement; provided,
however, that no Grantor makes any representation or warranty as to the possession or control of any Intellectual Property Collateral that has not been registered or applied for with a Governmental Authority. 

SECTION 5.2. Limitation on Liens; Defense of Claims; Transferability of Collateral. Each Grantor is as of the date hereof, and, as to
Collateral acquired by it from time to time after the date hereof, such Grantor will be, the sole owner of all Collateral pledged by it hereunder free from any Lien or other right, title or interest of any Person other than the Liens and
security interest created by this Agreement and Permitted Liens; provided, however, that no Grantor makes any representation or warranty as to the ownership of any Intellectual Property Collateral that has not been registered or
applied for with a Governmental Authority. Each Grantor shall, at its own cost and expense, defend title to the Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority
thereof against all claims and demands of all Persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party other than Permitted Liens. Except as permitted by the Indenture
and each Permitted Additional Pari Passu Lien Agreement, there is no agreement, and no Grantor shall enter into any agreement or take any other action, that would restrict the transferability of any of the Collateral or otherwise impair or conflict
with such Grantors’ obligations or the rights of the Collateral Agent hereunder. 
 SECTION 5.3. Chief Executive Office; Change of
Name; Jurisdiction of Organization. 
 (a) The exact legal name, type of organization, jurisdiction of organization, federal taxpayer
identification number, organizational identification number and chief executive office of such Grantor is indicated next to its name in Schedules 1(a) and 2 of the Perfection Certificate. Such Grantor shall furnish to the Collateral Agent prompt
notice (but in any event not more than thirty (30) days after any change referred to herein) of any change in: (i) any Grantor’s legal name or in any trade name used to identify it in the conduct of its business or in the ownership of
its properties; (ii) the location of any Grantor’s chief executive office, its principal place of business, any office in which it maintains books or records relating to Collateral owned by it or any office or facility at which Collateral
owned by it is located (including the establishment of any such new office or facility); (iii) any Grantor’s organizational structure; (iv) any Grantors’ jurisdiction of incorporation or formation (in each case, including by
merging with or into any other entity, reorganizing, dissolving, liquidating, reorganizing or organizing in any other jurisdiction); or (v) any Grantor’s Federal Taxpayer Identification Number or organizational identification number
assigned to it by its state of organization. Such Grantor agrees (A) not to effect or permit any such change unless all filings have been made under the UCC or otherwise that are required in order for the Collateral Agent to continue at all
times following such change to have a valid, legal and perfected security interest in all the Collateral (subject to Permitted Liens) and (B) to take all action required to maintain the perfection and priority of the security interest of

  
 20 

 
the Collateral Agent for the benefit of the Secured Parties in the Collateral intended to be granted hereunder. Each Grantor agrees to promptly provide the Collateral Agent with certified
organizational documents reflecting any of the changes described in the preceding sentence. 
 (b) The Collateral Agent may rely on opinions
of counsel as to whether any or all UCC financing statements of the Grantors need to be amended as a result of any of the changes described in SECTION 5.3(a). The Collateral Agent shall have no duty to inquire about such changes. 

SECTION 5.4. [Reserved]. 

SECTION 5.5. Due Authorization and Issuance. All of the Pledged Interests issued by any Grantor or any Subsidiary thereof have been
duly authorized, validly issued and, to the extent applicable, fully paid and non-assessable. There is no amount or other obligation owing by any Grantor to any issuer of the Pledged Interests in exchange for or in connection with the issuance of
the Pledged Interests or any Grantor’s status as a partner or a member of any issuer of the Pledged Interests. 
 SECTION 5.6. No
Claims. Such Grantor owns or has rights to use all of the Collateral pledged by it hereunder and all rights with respect to any of the foregoing used in, necessary for or material to such Grantor’s business as currently conducted. The use
by such Grantor of such Collateral and all such rights with respect to the foregoing do not infringe on the rights of any Person other than such infringement which would not, individually or in the aggregate, result in a Material Adverse Effect. No
claim has been made and remains outstanding that such Grantor’s use of any Collateral does or may violate the rights of any third Person that would individually, or in the aggregate, have a Material Adverse Effect. 

SECTION 5.7. No Conflicts, Consents, etc. No consent of any party (including, without limitation, equity holders or creditors of such
Grantor) and no consent, authorization, approval, license or other action by, and no notice to or filing with, any Governmental Authority or regulatory body or other Person is required (a) for the pledge by such Grantor of the Collateral
pledged by it pursuant to this Agreement or for the execution, delivery or performance hereof by such Grantor, (b) for the exercise by the Collateral Agent of the voting or other rights provided for in this Agreement or (c) for the
exercise by the Collateral Agent of the remedies in respect of the Collateral pursuant to this Agreement except, in each case, for such consents which have been obtained prior to the date hereof. Following the occurrence and during the continuation
of an Event of Default, if the Collateral Agent desires to exercise any remedies, voting or consensual rights or attorney-in-fact powers set forth in this Agreement and determines it necessary to obtain any approvals or consents of any Governmental
Authority or any other Person therefor, then, upon the reasonable request of the Collateral Agent, such Grantor agrees to use commercially reasonable efforts to assist and aid the Collateral Agent to obtain as soon as commercially practicable any
necessary approvals or consents for the exercise of any such remedies, rights and powers. 
 SECTION 5.8. Collateral Information. All
information set forth herein, including the schedules annexed hereto, and all information contained in any documents, schedules and lists heretofore delivered to any Secured Party in connection with this Agreement, in each 

  
 21 

 
case, relating to the Collateral, is accurate and complete in all material respects. Should any of the information on any of the schedules hereto become inaccurate or misleading in any material
respect as a result of changes after the Issue Date, the Grantors shall advise the Collateral Agent in writing of such revisions or updates as may be necessary or appropriate to update or correct the same. 

SECTION 5.9. Insurance. Each Grantor shall use commercially reasonable efforts to cause all property insurance policies covering
Collateral located in the U.S. and all U.S. general liability insurance policies of the Grantors to name the Collateral Agent as additional insured or loss payee, as applicable and, once obtained, the Grantors shall deliver to the Collateral Agent
the original certificates of insurance evidencing that such U.S. property and general liability insurance policies of the Grantors that name the Collateral Agent as additional insured or loss payee, as applicable are in force. Each Grantor hereby
irrevocably makes, constitutes and appoints the Collateral Agent (and all officers, employees or agents designated by the Collateral Agent) as such Grantor’s true and lawful agent (and attorney-in-fact), exercisable only after the occurrence
and during the continuance of an Event of Default, for the purpose of making, settling and adjusting claims in respect of the Collateral under policies of insurance, endorsing the name of such Grantor on any check, draft, instrument or other item of
payment for the proceeds of such policies of insurance and for making all determinations and decisions with respect thereto. In the event that any Grantor at any time or times shall fail to obtain or maintain any of the policies of insurance
required hereby or to pay any premium in whole or in part relating thereto, the Collateral Agent may, without waiving or releasing any obligation or liability of the Grantors hereunder or any Default or Event of Default, in its sole discretion,
obtain and maintain such policies of insurance and pay such premium and take any other actions with respect thereto as the Collateral Agent deems advisable. All sums disbursed by the Collateral Agent in connection with this SECTION 5.9,
including reasonable attorneys’ fees, court costs, expenses and other charges relating thereto, shall be payable, upon demand, by the Grantors to the Collateral Agent and shall be additional Secured Obligations secured hereby. 

SECTION 5.10. Payment of Taxes; Compliance with Laws; Contested Liens; Claims. Each Grantor represents and warrants that all Claims
imposed upon or assessed against the Collateral have been paid and discharged except to the extent such Claims constitute a Lien not yet due and payable or a Permitted Encumbrance. Each Grantor shall comply with all applicable Laws relating to the
Collateral the failure to comply with which, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. Each Grantor may at its own expense contest the validity, amount or applicability of any Claims so long as
the contest thereof shall be conducted in accordance with, and permitted pursuant to the provisions of, the Indenture and each Permitted Additional Pari Passu Lien Agreement. Notwithstanding the foregoing provisions of this SECTION 5.10, no
contest of any such obligation may be pursued by such Grantor if such contest would expose the Collateral Agent or any other Secured Party to (a) any possible criminal liability or (b) any additional civil liability for failure to comply
with such obligations unless such Grantor shall have furnished a bond or other security therefor satisfactory to the Collateral Agent, or such other Secured Party, as the case may be. 

SECTION 5.11. Access to Collateral, Books and Records; Other Information. Such Grantor shall, at any and all times, within a reasonable
time after written request by the Collateral Agent, furnish or cause to be furnished to the Collateral Agent, in such manner and in such detail as may be reasonably requested by the Collateral Agent, additional information with respect to the
Collateral. 

  
 22 

 ARTICLE VI 

CERTAIN PROVISIONS CONCERNING SECURITIES COLLATERAL 

SECTION 6.1. Pledge of Additional Securities Collateral. Each Grantor shall, upon obtaining any Pledged Securities or Intercompany
Notes of any Person required to be pledged hereunder, accept the same in trust for the benefit of the Collateral Agent and forthwith deliver (a) to the Collateral Agent a pledge amendment, duly executed by such Grantor, in substantially the
form of EXHIBIT 2 hereto (each, a “Pledge Amendment”), and (b) to the Collateral Agent and/or, subject to the Intercreditor Agreement, the ABL Agent the certificates and other documents required under SECTION 4.1
and SECTION 4.2 hereof in respect of the additional Pledged Securities or Intercompany Notes which are to be pledged pursuant to this Agreement, and confirming the attachment of the Lien hereby created on and in respect of such additional
Pledged Securities or Intercompany Notes. Each Grantor hereby authorizes the Collateral Agent to attach each Pledge Amendment to this Agreement and agrees that all Pledged Securities or Intercompany Notes listed on any Pledge Amendment delivered to
the Collateral Agent shall for all purposes hereunder be considered Collateral. 
 SECTION 6.2. Voting Rights;
Distributions; etc. 
 (a) So long as a Grantor has not received notice that an Event of Default has occurred and is continuing: 

(i) Such Grantor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Securities
Collateral or any part thereof for any purpose not inconsistent with the terms or purposes hereof, the Indenture and each Permitted Additional Pari Passu Lien Agreement or any other document evidencing the Secured Obligations. 

(ii) Such Grantor shall be entitled to receive and retain, and to utilize free and clear of the Lien hereof, any and all
Distributions, but only if and to the extent made in accordance with the provisions of the Indenture and each Permitted Additional Pari Passu Lien Agreement; provided, however, that any and all such Distributions consisting of rights
or interests in the form of securities shall be forthwith delivered to hold as Collateral and shall, if received by any Grantor, be received in trust for the benefit of the Collateral Agent, be segregated from the other property or funds of such
Grantor and be forthwith delivered to the Collateral Agent, to hold as Collateral in the same form as so received (with any necessary endorsement). 

(iii) The Collateral Agent shall be deemed without further action or formality to have granted to each Grantor all necessary
consents relating to voting rights and shall, if necessary, promptly upon written request of any Grantor and at the sole cost and expense of the Grantors, from time to time execute and deliver (or cause to be executed and delivered) to such
Grantor all such instruments as such Grantor may reasonably request in order to permit such Grantor to exercise the voting and other rights which it is entitled to exercise pursuant to SECTION 6.2(a)(i) hereof and to receive the Distributions
which it is authorized to receive and retain pursuant to SECTION 6.2(a)(ii) hereof. 

  
 23 

 (b) Upon a Grantor’s receipt of notice that an Event of Default has occurred and is
continuing, all rights of each Grantor to exercise the voting and other consensual rights it would otherwise be entitled to exercise pursuant to SECTION 6.2(a) hereof without any action, other than, in the case of any Securities Collateral,
or the giving of any notice shall immediately cease, and all such rights shall thereupon become vested, in the Collateral Agent, who shall thereupon have the sole right to exercise such voting and other consensual rights; provided that
the Collateral Agent, shall have the right, in its sole discretion, from time to time following the occurrence and continuance of an Event of Default to permit such Grantor to exercise such rights under SECTION 6.2(a). 

(c) Upon a Grantor’s receipt of notice that an Event of Default has occurred and is continuing, all rights of each Grantor to receive
Distributions which it would otherwise be authorized to receive and retain pursuant to SECTION 6.2(a)(ii) hereof shall cease and all such rights shall thereupon become vested in the Collateral Agent, which shall thereupon have the sole right
to receive and hold as Collateral such Distributions. After such Event of Default is no longer continuing, each Grantor shall have the right to exercise the voting, managerial and other consensual rights and powers that it would otherwise be
entitled to pursuant to SECTION 6.2(a) hereof and receive the payments, proceeds, dividends, distributions, monies, compensation, property, assets, instruments or rights which it would be authorized to receive and retain pursuant to
SECTION 6.2(a)(ii). 
 (d) Each Grantor shall, at its sole cost and expense, from time to time execute and deliver to the Collateral
Agent appropriate instruments as the Collateral Agent may reasonably request in order to permit the Collateral Agent to exercise the voting and other rights which it may be entitled to exercise pursuant to SECTION 6.2(b) hereof and to receive
all Distributions which it may be entitled to receive under SECTION 6.2(c) hereof. 
 (e) All Distributions which are received by any
Grantor contrary to the provisions of SECTION 6.2(c) hereof shall be received in trust for the benefit of the Collateral Agent, shall be segregated from other funds of such Grantor and shall immediately be delivered to the Collateral Agent in
accordance with the provisions of the Indenture and each Permitted Additional Pari Passu Lien Agreement in the same form as so received (with any necessary endorsement). 

SECTION 6.3. Organizational Documents. Each Grantor has delivered to the Collateral Agent or its representatives true, correct and
complete copies of its Organization Documents. The Organization Documents are in full force and effect, have not as of the date hereof been amended or modified except as disclosed to the Collateral Agent. 

SECTION 6.4. Defaults, Etc. Such Grantor is not in default in the payment of any portion of any mandatory capital contribution, if any,
required to be made under any agreement to which such Grantor is a party relating to the Pledged Securities pledged by it. No Securities Collateral pledged by such Grantor is subject to any defense, offset or counterclaim, nor 

  
 24 

 
have any of the foregoing been asserted or alleged against such Grantor by any Person with respect thereto, and as of the date hereof, there are no certificates, instruments, documents or other
writings (other than the Organization Documents and certificates, if any, delivered to the Collateral Agent) which evidence any Pledged Securities of such Grantor. 

SECTION 6.5. Certain Agreements of Grantors As Issuers and Holders of Equity Interests. 

(a) In the case of each Grantor which is an issuer of Securities Collateral, such Grantor agrees to be bound by the terms of this Agreement
relating to the Securities Collateral issued by it and will comply with such terms insofar as such terms are applicable to it. 
 (b) In the
case of each Grantor which is a partner in a partnership, limited liability company or other entity, such Grantor hereby consents to the extent required by the applicable Organization Document to the pledge by each other Grantor, pursuant to the
terms hereof, of the Pledged Interests in such partnership, limited liability company or other entity and, upon the occurrence and during the continuance of an Event of Default, to the transfer of such Pledged Interests to the Collateral Agent or
its nominee and to the substitution of the Collateral Agent or its nominee as a substituted partner or member in such partnership, limited liability company or other entity with all the rights, powers and duties of a general partner or a limited
partner or member, as the case may be. 
 ARTICLE VII 

CERTAIN PROVISIONS CONCERNING INTELLECTUAL 

PROPERTY COLLATERAL 
 SECTION 7.1.
Grant of License. Without limiting the rights of the Collateral Agent as the holder of a Lien on the Intellectual Property Collateral, for the purpose of enabling the Collateral Agent, solely upon the occurrence and during the continuance of
an Event of Default, to exercise rights and remedies under ARTICLE IX hereof at such time as the Collateral Agent shall be lawfully entitled to exercise such rights and remedies, and for no other purpose, each Grantor hereby grants to the
Collateral Agent, to the extent assignable, a non-exclusive license (exercisable without payment of royalty or other compensation to such Grantor) to use, assign, license or sublicense any of the Intellectual Property Collateral now owned or
hereafter acquired by such Grantor, wherever the same may be located, including in such license access to all media in which any of the licensed items may be recorded or stored and to all computer programs used for the compilation or printout
hereof. 
 SECTION 7.2. Registrations. Except pursuant to licenses and other agreements that are not material licenses and other
agreements entered into by any Grantor that are listed in Schedule 11(a) or Schedule 11(b) of the Perfection Certificate, as applicable, and except the inherent uncertainty with respect to a Governmental Authority’s ultimate granting (whether
by issuing or registering) of any pending Patent, Trademark or Copyright application and the validity of any such application, on and as of the date hereof, (a) each Grantor owns and possesses the right to use, and has done nothing to authorize
or enable any other Person to use, any material Copyright, Patent or Trademark listed in Schedules 11(a) or 11(b) of the Perfection Certificate, as applicable, and (b) all registrations listed in Schedules 11(a) and 11(b) of the Perfection
Certificate, as applicable, are valid and in full force and effect. 

  
 25 

 SECTION 7.3. No Violations or Proceedings. To each Grantor’s knowledge, on and as of
the date hereof, there is no material violation or infringement by others of any right of such Grantor with respect to any Copyright, Patent or Trademark listed in Schedules 11(a) or 11(b) of the Perfection Certificate, respectively, pledged by it
under the name of such Grantor. 
 SECTION 7.4. Protection of Collateral Agent’s Security. On a continuing basis, each Grantor
shall, at its sole cost and expense, (a) promptly following its becoming aware thereof, notify the Collateral Agent of (i) any adverse determination in any proceeding in the USPTO or the USCO with respect to any material Patent, Trademark
or Copyright or (ii) the institution of any proceeding or any adverse determination in any federal, state or local court or administrative body regarding such Grantor’s claim of ownership in or right to use any material Patent, Trademark
or Copyright, (b) maintain and protect the Intellectual Property Collateral material to the use and operation of the Collateral as presently used and operated, except for any such Intellectual Property Collateral that such Grantor believes, in
its reasonable business judgment, should not be maintained or protected, (c) not settle or compromise any pending or future litigation or administrative proceeding with respect to such Intellectual Property Collateral, in each case except as
shall be consistent with commercially reasonable business judgment and (d) with respect to any federally registered Intellectual Property Collateral, of which any Grantor obtains ownership of after the date hereof, such Grantor shall, on an
annual basis within thirty (30) days of each anniversary of the effective date of this Agreement, (i) provide to the Collateral Agent written notice of any such items of Intellectual Property Collateral and (ii) confirm the attachment
of the Lien and security interest created by this Agreement to any such items by execution and filing of an instrument in form reasonably acceptable to the Collateral Agent. 

SECTION 7.5. After-Acquired Property. If any Grantor shall, at any time prior to the release of the Security Interest, obtain any
rights to any additional Intellectual Property Collateral, the provisions hereof shall automatically apply thereto and any such item with respect to such Grantor shall automatically constitute Intellectual Property Collateral if such would have
constituted Intellectual Property Collateral at the time of execution hereof and be subject to the Lien and security interest created by this Agreement without further action by any party. 

SECTION 7.6. Litigation. Upon the occurrence and solely during the continuance of any Event of Default, the Collateral Agent shall have
the right but shall in no way be obligated to file applications for protection of the Intellectual Property Collateral and/or bring suit to enforce the Intellectual Property Collateral and any license thereunder. In the event of such suit, each
Grantor shall, at the reasonable request of the Collateral Agent, do any and all lawful acts and execute any and all documents requested by the Collateral Agent in aid of such enforcement. 

  
 26 

 ARTICLE VIII 

[RESERVED] 
 ARTICLE IX 

REMEDIES 
 SECTION 9.1.
Remedies. Upon the occurrence and during the continuance of any Event of Default, the Collateral Agent may from time to time in respect of the Collateral, in addition to the other rights and remedies provided for herein or otherwise available
to it: 
 (a) Personally, or by agents or attorneys, immediately take possession of the Collateral or any part thereof, from
any Grantor or any other Person who then has possession of any part thereof with or without notice or process of law, and for that purpose may enter upon any Grantor’s premises where any of the Collateral is located, remove such Collateral,
remain present at such premises to receive copies of all communications and remittances relating to the Collateral and use in connection with such removal and possession any and all services, supplies, aids and other facilities of any Grantor; 

(b) Demand, sue for, collect or receive any money or property at any time payable or receivable in respect of the Collateral,
including, without limitation, instructing the obligor or obligors on any agreement, instrument or other obligation constituting part of the Collateral to make any payment required by the terms of such agreement, instrument or other obligation
directly to the Collateral Agent, and in connection with any of the foregoing, compromise, settle, extend the time for payment and make other modifications with respect thereto; provided, however, that in the event that any such
payments are made directly to any Grantor, prior to receipt by any such obligor of such instruction, such Grantor shall segregate all amounts received pursuant thereto in trust for the benefit of the Collateral Agent and shall promptly pay such
amounts to the Collateral Agent; 
 (c) Sell, assign, grant a license to use or otherwise liquidate, or direct any Grantor to
sell, assign, grant a license to use or otherwise liquidate, any and all investments made in whole or in part with the Collateral or any part thereof, and take possession of the proceeds of any such sale, assignment, license or liquidation; 

(d) Take possession of the Collateral or any part thereof, by directing any Grantor in writing to deliver the same to the
Collateral Agent at any place or places so designated by the Collateral Agent, in which event such Grantor shall at its own expense: (i) forthwith cause the same to be moved to the place or places designated by the Collateral Agent and
therewith delivered to the Collateral Agent; (ii) store and keep any Collateral so delivered to the Collateral Agent at such place or places pending further action by the Collateral Agent; and (iii) while the Collateral shall be so stored
and kept, provide such security and maintenance services as shall be necessary to protect the same and to preserve and maintain them in good condition. Each Grantor’s obligation to deliver the Collateral as contemplated in this SECTION
9.1 is of the essence hereof. Upon application to a court of equity having jurisdiction, the Collateral Agent shall be entitled to a decree requiring specific performance by any Grantor of such obligation; 

  
 27 

 (e) Withdraw all moneys, instruments, securities and other property in any bank,
financial securities, deposit or other account of any Grantor constituting Collateral (including Trust Monies in the Collateral Account) for application to the Secured Obligations as provided in ARTICLE X hereof; 

(f) Retain and apply the Distributions to the Secured Obligations as provided in ARTICLE X hereof; 

(g) Exercise any and all rights as beneficial and legal owner of the Collateral, including, without limitation, perfecting
assignment of and exercising any and all voting, consensual and other rights and powers with respect to any Collateral; and 

(h) Exercise all the rights and remedies of a secured party under the UCC, and the Collateral Agent may also in its sole
discretion, without notice except as specified in SECTION 9.2 hereof, sell, assign or grant a license to use the Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker’s board or at any
of the Collateral Agent’s offices or elsewhere, for cash, on credit or for future delivery, and at such price or prices and upon such other terms as the Collateral Agent may deem commercially reasonable. The Collateral Agent or any other
Grantor or any of their respective Affiliates may be the purchaser, licensee, assignee or recipient of any or all of the Collateral at any such sale and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase
price for all or any portion of the Collateral sold, assigned or licensed at such sale, to use and apply any of the Secured Obligations owed to such Person as a credit on account of the purchase price of any Collateral payable by such Person at such
sale. Each purchaser, assignee, licensee or recipient at any such sale shall acquire the property sold, assigned or licensed absolutely free from any claim or right on the part of any Grantor, and each Grantor hereby waives, to the fullest extent
permitted by Law, all rights of redemption, stay and/or appraisal which it now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. The Collateral Agent shall not be obligated to make any sale
of Collateral regardless of notice of sale having been given. The Collateral Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at
the time and place to which it was so adjourned. To the fullest extent permitted by Law, each Grantor hereby waives any claims against the Collateral Agent arising by reason of the fact that the price at which any Collateral may have been sold,
assigned or licensed at such a private sale was less than the price which might have been obtained at a public sale, even if the Collateral Agent accepts the first offer received and does not offer such Collateral to more than one offeree. 

SECTION 9.2. Notice of Sale. Each Grantor acknowledges and agrees that, to the extent notice of sale or other disposition of Collateral
shall be required by applicable Law and unless the Collateral is perishable or threatens to decline speedily in value, or is of a type customarily sold on a recognized market (in which event the Collateral Agent shall provide such 

  
 28 

 
Grantor such advance notice as may be practicable under the circumstances), ten (10) days’ prior notice to such Grantor of the time and place of any public sale or of the time after
which any private sale or other intended disposition is to take place shall be commercially reasonable notification of such matters. No notification need be given to any Grantor if it has signed, after the occurrence of an Event of Default, a
statement renouncing or modifying (as permitted under Law) any right to notification of sale or other intended disposition. 
 SECTION 9.3.
Waiver of Notice and Claims. Each Grantor hereby waives, to the fullest extent permitted by applicable Law, notice or judicial hearing in connection with the Collateral Agent’s taking possession or the Collateral Agent’s disposition
of any of the Collateral, including, without limitation, any and all prior notice and hearing for any prejudgment remedy or remedies and any such right which such Grantor would otherwise have under Law, and each Grantor hereby further waives, to the
fullest extent permitted by applicable Law: (a) all damages occasioned by such taking of possession; (b) all other requirements as to the time, place and terms of sale or other requirements with respect to the enforcement of the Collateral
Agent’s rights hereunder; and (c) all rights of redemption, appraisal, valuation, stay, extension or moratorium now or hereafter in force under any applicable Law. The Collateral Agent shall not be liable for any incorrect or improper
payment made pursuant to this ARTICLE IX in the absence of gross negligence or willful misconduct. Any sale of, or the grant of options to purchase, or any other realization upon, any Collateral shall operate to divest all right, title,
interest, claim and demand, either at law or in equity, of the applicable Grantor therein and thereto, and shall be a perpetual bar both at law and in equity against such Grantor and against any and all Persons claiming or attempting to claim the
Collateral so sold, optioned or realized upon, or any part thereof, from, through or under such Grantor. 
 SECTION 9.4. Certain Sales of
Collateral. 
 (a) Each Grantor recognizes that, by reason of certain prohibitions contained in law, rules, regulations or orders of any
Governmental Authority, the Collateral Agent may be compelled, with respect to any sale of all or any part of the Collateral, to limit purchasers to those who meet the requirements of such Governmental Authority. Each Grantor acknowledges that any
such sales may be at prices and on terms less favorable to the Collateral Agent than those obtainable through a public sale without such restrictions, and, notwithstanding such circumstances, agrees that any such restricted sale shall be deemed to
have been made in a commercially reasonable manner and that, except as may be required by applicable Law, the Collateral Agent shall have no obligation to engage in public sales. 

(b) Each Grantor recognizes that, by reason of certain prohibitions contained in the Securities Act, and applicable state securities Laws, the
Collateral Agent may be compelled, with respect to any sale of all or any part of the Securities Collateral and Investment Property, to limit purchasers to Persons who will agree, among other things, to acquire such Securities Collateral or
Investment Property for their own account, for investment and not with a view to the distribution or resale thereof. Each Grantor acknowledges that any such private sales may be at prices and on terms less favorable to the Collateral Agent than
those obtainable through a public sale without such restrictions (including, without limitation, a public offering made pursuant to a registration statement under the Securities Act), and, notwithstanding such circumstances, agrees that any such
private sale shall be deemed to have been made in a commercially 

  
 29 

 
reasonable manner and that the Collateral Agent shall have no obligation to engage in public sales and no obligation to delay the sale of any Securities Collateral or Investment Property for the
period of time necessary to permit the issuer thereof to register it for a form of public sale requiring registration under the Securities Act or under applicable state securities Laws, even if such issuer would agree to do so. 

(c) If the Collateral Agent determines to exercise its right to sell any or all of the Securities Collateral or Investment Property, upon
written request, the applicable Grantor shall from time to time furnish to the Collateral Agent all such information as the Collateral Agent may reasonably request in order to determine the number of securities included in the Securities Collateral
or Investment Property which may be sold by the Collateral Agent as exempt transactions under the Securities Act and the rules of the Securities and Exchange Commission thereunder, as the same are from time to time in effect. 

(d) Each Grantor further agrees that a breach of any of the covenants contained in this SECTION 9.4 will cause irreparable injury to the
Collateral Agent and the other Grantors, that the Collateral Agent and the other Grantors have no adequate remedy at law in respect of such breach and, as a consequence, that each and every covenant contained in this SECTION 9.4 shall be
specifically enforceable against such Grantor, and such Grantor hereby waives and agrees not to assert any defenses against an action for specific performance of such covenants except for a defense that no Event of Default has occurred and is
continuing. 
 SECTION 9.5. No Waiver; Cumulative Remedies. 

(a) No failure on the part of the Collateral Agent to exercise, no course of dealing with respect to, and no delay on the part of the
Collateral Agent in exercising, any right, power or remedy hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any such right, power or remedy hereunder preclude any other or further exercise thereof or the
exercise of any other right, power or remedy; nor shall the Collateral Agent be required to look first to, enforce or exhaust any other security, collateral or guaranties. The remedies herein provided are cumulative and are not exclusive of any
remedies provided by Law. 
 (b) In the event that the Collateral Agent shall have instituted any proceeding to enforce any right, power or
remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Collateral Agent, then and in every such case, the
Grantors, the Collateral Agent and each other Secured Party shall be restored to their respective former positions and rights hereunder with respect to the Collateral, and all rights, remedies and powers of the Collateral Agent and the other Secured
Parties shall continue as if no such proceeding had been instituted. 

  
 30 

 ARTICLE X 

APPLICATION OF PROCEEDS 
 SECTION
10.1. Application of Proceeds. Subject to the Intercreditor Agreement, the proceeds received by the Collateral Agent in respect of any sale of, collection from or other realization upon all or any part of the Collateral or Mortgaged Property
pursuant to the exercise by the Collateral Agent of its remedies shall be applied, together with any other sums then held by the Collateral Agent pursuant to this Agreement and any other Security Document or in the Collateral Account, against the
Secured Obligations in the order set forth in EXHIBIT 4 hereto. 
 ARTICLE XI 

MISCELLANEOUS 
 SECTION 11.1.
Concerning Collateral Agent. 
 (a) Duties of The Collateral Agent. 

(i) If an Event of Default has occurred and is continuing and the Collateral Agent has received written notice thereof from an Issuer, the
Trustee or any Additional Pari Passu Agent, the Collateral Agent may exercise such of the rights and powers vested in it by this Agreement and the Security Documents, and shall use the same degree of care and skill in its exercise as a prudent
person would exercise or use under the circumstances in the conduct of his or her own affairs; provided that, subject to the limitations on the obligations of the Collateral Agent to take actions as provided herein, in the Indenture or any
Permitted Additional Pari Passu Lien Agreement, the Collateral Agent shall exercise, or refrain from exercising, any remedies provided for herein, in accordance with the written instructions of the Required Secured Parties; 

(ii) Except during the continuance of an Event of Default: 

(A) the duties of the Collateral Agent shall be determined solely by the express provisions of this Agreement and the
Collateral Agent need perform only those duties that are specifically set forth in this Agreement and the other Security Documents and no others, and no implied covenants or obligations shall be read into this Agreement or the Security Documents
against the Collateral Agent; and 
 (B) in the absence of bad faith on its part, the Collateral Agent may conclusively rely,
as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Collateral Agent. 

(iii) The Collateral Agent may not be relieved from liability for its own gross negligent action, its own grossly negligent failure to act, or
its own willful misconduct, except that: 
 (A) this paragraph does not limit the effect of paragraph (ii) or
(v) of this SECTION 11.1(a); 
 (B) the Collateral Agent shall not be liable for any error of judgment made in
good faith by an officer of the Collateral Agent, unless it is proved that the Collateral Agent was grossly negligent in ascertaining the pertinent facts; and 

  
 31 

 (C) the Collateral Agent shall not be liable with respect to any action it takes
or omits to take in good faith in accordance with a direction received by it at the direction of the Required Secured Parties, or for the method and place of conducting any proceeding for any remedy available to the Collateral Agent, or exercising
any trust or power conferred upon the Collateral Agent, under this Agreement or any other Security Document. 
 (iv) Whether or not therein
expressly so provided, every provision of this Agreement or any provision of any other Security Document that in any way relates to the Collateral Agent is subject to paragraphs (i), (ii), (iii), (v) and (vi) of this SECTION
11.1(a). 
 (v) No provision of this Agreement or any other Security Document shall require the Collateral Agent to expend or risk its
own funds or incur any liability. 
 (vi) The Collateral Agent shall not be liable for interest on any money received by it except as the
Collateral Agent may agree in writing with the Grantors. Money held in trust by the Collateral Agent need not be segregated from other funds except to the extent required by law. 

(b) Rights of the Collateral Agent. 

(i) The Collateral Agent may conclusively rely and shall be fully protected in acting or refraining from acting on any document believed by it
to be genuine and to have been signed or presented by the proper Person. The Collateral Agent need not investigate any fact or matter stated in any such document. The Collateral Agent shall not be obligated to communicate with or deal in any way
with any Secured Party other than the Trustee and any Additional Pari Passu Agent. In determining (x) the amount of Secured Obligations outstanding under the Indenture or any Permitted Additional Pari Passu Lien Agreement or (y) whether
the consent of any Secured Party to any amendment, waiver or other action under this Agreement or any other Security Document has been obtained, the Collateral Agent may conclusively rely on any statement by the Trustee or the applicable Additional
Pari Passu Agent as to such matter. 
 (ii) The Collateral Agent may act through its attorneys and agents and shall not be responsible for
the misconduct or negligence of any attorney or agent appointed with due care. 
 (iii) The Collateral Agent shall not be liable for any
action it takes or omits to take in good faith that it believes to be authorized or within the rights or powers conferred upon it by this Agreement or any other Security Document. Whenever in the administration of this Agreement or any Security
Document the Collateral Agent shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Collateral Agent (unless other evidence be herein specifically prescribed) may, in the
absence of bad faith on its part, conclusively rely upon an Officers’ Certificate. 
 (iv) Unless otherwise specifically provided in
this Agreement or any other Security Document, any demand, request, direction or notice from any Grantor shall be sufficient if evidenced by an Officer’s Certificate. 

  
 32 

 (v) The Collateral Agent shall be under no obligation to exercise any of the rights or powers
vested in it by this Agreement or any other Security Document at the request or direction of any of the Secured Parties unless such Secured Parties shall have offered to the Collateral Agent reasonable security and indemnity reasonably satisfactory
to the Collateral Agent against the costs, expenses and liabilities that might be incurred by it in compliance with such request or direction. 

(vi) The Collateral Agent shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or documents, but the Collateral Agent, in its discretion, may make such further inquiry or
investigation into such facts or matters as it may see fit, and, if the Collateral Agent shall determine to make such further inquiry or investigation, it shall be entitled to examine during normal business hours and upon reasonable notice the
books, records and premises of any Grantor, personally or by agent or attorney at the sole cost of the Grantors, and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation. 

(vii) The rights, privileges, protections and benefits given to the Collateral Agent, including, without limitation, its rights to be
indemnified, are extended to, and shall be enforceable by, the Collateral Agent in each of its capacities hereunder, and to each agent, custodian and other Persons employed to act hereunder or under any Security Document. 

(viii) The Collateral Agent may request that the Issuers deliver an Officers’ Certificate setting forth the names of individuals and/or
titles of officers authorized at such time to take specified actions pursuant to this Agreement or any other Security Document, which Officers’ Certificate may be signed by any person authorized to sign an Officers’ Certificate, including
any person specified as so authorized in any such certificate previously delivered and not superseded 
 (ix) The permissive right of the
Collateral Agent to take or refrain from taking any actions enumerated in this Agreement or any other Security Document shall not be construed as a duty. 

(c) Individual Rights of Collateral Agent. The Collateral Agent in its individual or any other capacity may become the owner or pledgee
of Secured Obligations and may otherwise deal with any Grantor or any Affiliate of any Grantor with the same rights it would have if it were not Collateral Agent. 

(d) Collateral Agent’s Disclaimer. The Collateral Agent shall not be responsible for and makes no representation as to the validity
or adequacy of this Agreement or any other Security Document, or the existence, genuineness, value or protection of any Collateral (except for the safe custody of Collateral in its possession and the accounting for Trust Monies actually received by
it in accordance with the terms hereof), the legality, effectiveness or sufficiency of any Security Document, or the creation, perfection, priority, sufficiency or protection of any Lien on any Collateral, and it shall not be responsible for any
statement or recital in this Agreement or any other Security Document. 

  
 33 

 (e) Replacement of Collateral Agent. A resignation or removal of the Collateral Agent and
appointment of a successor Collateral Agent shall become effective only upon the successor Collateral Agent’s acceptance of appointment as provided in this SECTION 11.1(e). The Collateral Agent may resign in writing at any time by so
notifying the Issuers, the Trustee and each Additional Pari Passu Agent. The Issuers may remove the Collateral Agent if: 

(i) the Collateral Agent is removed as Trustee under the Indenture; 

(ii) the Collateral Agent fails to comply with SECTION 11.1(g) hereof; 

(iii) the Collateral Agent is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the
Collateral Agent under the Bankruptcy Code; 
 (iv) a custodian or public officer takes charge of the Collateral Agent or its
property; or 
 (v) the Collateral Agent becomes incapable of acting. 

If the Collateral Agent resigns or is removed or if a vacancy exists in the office of Collateral Agent for any reason, the Issuers shall
promptly appoint a successor Collateral Agent which complies with any eligibility requirements contained in the Indenture and each Permitted Additional Pari Passu Lien Agreement. 

If a successor Collateral Agent does not take office within 30 days after the retiring Collateral Agent resigns or is removed, the retiring
Collateral Agent, Tops Markets or the holders of at least 10% in principal amount of the then outstanding principal amount of Secured Obligations may petition any court of competent jurisdiction for the appointment of a successor Collateral Agent.

 A successor Collateral Agent shall deliver a written acceptance of its appointment to the retiring Collateral Agent and to the Issuer.
Thereupon, the resignation or removal of the retiring Collateral Agent shall become effective, and the successor Collateral Agent shall have all the rights, powers and the duties of the Collateral Agent under this Agreement and the other Security
Documents. The successor Collateral Agent shall mail a notice of its succession to the Trustee and each Additional Pari Passu Agent. The retiring Collateral Agent shall promptly transfer all property held by it as Collateral Agent to the successor
Collateral Agent. 
 (f) Successor Collateral Agent by Merger, Etc. If the Collateral Agent consolidates, merges or converts into, or
transfers all or substantially all of its corporate trust business to, another Person, the successor Person without any further act shall be the successor Collateral Agent under this Agreement and the other Security Documents. 

(g) Eligibility. There shall at all times be a Collateral Agent hereunder that (i) meets the requirements for being a trustee under
the Indenture (prior to the discharge or defeasance of the Indenture) and (ii) following the discharge or defeasance of the Indenture, meets the requirements for being the Additional Pari Passu Agent under any then extant Permitted Additional
Pari Passu Lien Agreement. 

  
 34 

 (h) Co-Collateral Agent; Separate Collateral Agent. At any time or times, for the purpose
of meeting the legal requirements of any jurisdiction in which any of the Collateral may at the time be located, the Issuers and the Collateral Agent shall have power to appoint agents and sub-agents to the extent permitted under the Indenture and
each Permitted Additional Pari Passu Lien Agreement. 
 SECTION 11.2. Collateral Agent May Perform; Collateral Agent Appointed
Attorney-in-Fact. If any Grantor shall fail to perform any covenants contained in this Agreement, in any of the Security Documents or in the Indenture and each Permitted Additional Pari Passu Lien Agreement or if any warranty on the part of any
Grantor contained herein shall be breached, the Collateral Agent may (but shall not be obligated to) do the same or cause it to be done or remedy any such breach, and may expend funds for such purpose; provided, however, that
Collateral Agent shall in no event be bound to inquire into the validity of any tax, Lien, imposition or other obligation which such Grantor fails to pay or perform as and when required hereby and which such Grantor does not contest in accordance
with the provisions of the Indenture and each Permitted Additional Pari Passu Lien Agreement. Neither the provisions of this SECTION 11.2 nor any action taken by Collateral Agent pursuant to the provisions of this SECTION 11.2 shall
prevent any such failure to observe any covenant contained in this Agreement nor any breach of warranty from constituting an Event of Default. Each Grantor hereby appoints the Collateral Agent its attorney-in-fact, with full authority in the place
and stead of such Grantor and in the name of such Grantor, or otherwise, from time to time after the occurrence and during the continuation of an Event of Default in the Collateral Agent’s discretion to take any action and to execute any
instrument consistent with the terms of the Indenture and each Permitted Additional Pari Passu Lien Agreement and the other Security Documents which the Collateral Agent may deem necessary to accomplish the purposes hereof. The foregoing grant of
authority is a power of attorney coupled with an interest and such appointment shall be irrevocable for the term hereof. Each Grantor hereby ratifies all that such attorney shall lawfully do or cause to be done by virtue hereof. 

SECTION 11.3. [Reserved]. 

SECTION 11.4. Continuing Security Interest; Assignment. This Agreement shall create a continuing security interest in the Collateral
(other than any Mortgaged Property) and shall (a) remain in full force and effect until the Security Interest is permitted to be terminated in full with respect to all Note Obligations under the Note Documents and with respect to Permitted
Additional Pari Passu Obligations under each applicable Permitted Additional Pari Passu Lien Agreement (the “Discharge of Obligations”), (b) be binding upon each of the Grantors, and their respective successors and assigns, and
(c) inure to the benefit of, and be enforceable by, Collateral Agent, and its successors, transferees and assigns. Upon the Discharge of Obligations, the Security Interest granted hereby shall terminate and all rights to the Collateral shall
revert to Grantors or any other Person entitled thereto. No transfer, renewal, extension or assignment of this Agreement, any other Security Document or any Permitted Additional Pari Passu Lien Agreement, or any other instrument or document executed
and delivered by any Grantor to Collateral Agent, nor the taking of further security, nor the retaking of the Collateral by Collateral Agent, nor any other act of any Secured Party shall release any of Grantors from any obligation under this
Agreement or any other Security Document. The Collateral Agent shall not by any act, delay, omission or otherwise, be deemed to have waived any of its rights or remedies 

  
 35 

 
hereunder, unless such waiver is in writing and signed by Collateral Agent and then only to the extent therein set forth. A waiver by Collateral Agent of any right or remedy on any occasion shall
not be construed as a bar to the exercise of any such right or remedy which Collateral Agent would otherwise have had on any other occasion. In addition, the Security Interests granted hereunder and the Liens granted under any of the other Security
Documents shall terminate and be released, in whole or in part, (i) as to the Notes Obligations, as provided in the Indenture and (ii) as to the Permitted Additional Pari Passu Obligations under any Permitted Additional Pari Passu Lien
Agreement, as provided in such Permitted Additional Pari Passu Lien Agreement. Collateral shall be released from the Security Interest under this Agreement and the Lien under any of the other Security Documents as provided in (i) the Indenture
with respect to Liens securing the Notes Obligations and (ii) each Permitted Additional Pari Passu Lien Agreement relating to Permitted Additional Pari Passu Obligations with respect to Liens securing such Permitted Additional Pari Passu
Obligations. The Grantors may file appropriate termination statements, mortgage releases satisfactions and re-conveyances, and other filings to terminate or evidence the termination of the Security Interests in and Liens on any assets that have been
released from the Security Interest under this Agreement and the Liens under any other Security Documents in accordance with this SECTION 11.4 and, at the Grantors’ expense, the Collateral Agent shall return all Collateral in its
possession to the Grantors and shall execute any termination, amendment, mortgage release, satisfaction or re-conveyance, required or desirable to terminate or evidence the termination of the Security Interest in or Lien on any property or assets
released from the Security Interest under this Agreement or any Lien released under any other Security Document. 
 SECTION 11.5.
Termination; Release. 
 (a) With respect to (i) SECTION 11.4 and the release of Liens on the Collateral securing the
Notes Obligations, the Collateral Agent shall comply with any direction given to it by the Trustee pursuant to Section 11.04 of the Indenture, and (ii) SECTION 11.4 and the release of Liens on the Collateral securing Permitted
Additional Pari Passu Obligations under any Permitted Additional Pari Passu Lien Agreement, the Collateral Agent shall comply with any direction given to it by the applicable Additional Pari Passu Agent pursuant to any similar provision of such
Permitted Additional Pari Passu Lien Agreement; provided in the case of clauses (i) and (ii) that such direction is not inconsistent with this Agreement. 

(b) Subject to the terms of the Intercreditor Agreement, upon any release of Collateral or Mortgaged Property in accordance with the provisions
of SECTION 11.4, the Collateral Agent shall, upon the request and at the sole cost and expense of the Grantors, assign, transfer and deliver to the Grantors, against receipt and without recourse to or warranty by the Collateral Agent except
as to the fact that the Collateral Agent has not encumbered the released assets, such of the Collateral or Mortgaged Property to be released (in the case of a release) as may be in possession of the Collateral Agent and as shall not have been sold
or otherwise applied pursuant to the terms hereof, and, with respect to any other Collateral or Mortgaged Property, proper documents and instruments (including UCC-3 termination statements or releases)
acknowledging the termination hereof or the release of such Collateral or Mortgaged Property, as the case may be. 

  
 36 

 SECTION 11.6. Modification in Writing. No modification of any terms of this Agreement or
any other Security Document (including any waiver thereof) shall be effective, unless such modification is specifically provided in a writing directed to the applicable Grantor and executed by the Collateral Agent with the consent of such Secured
Parties, if any, required by (i) the Indenture and (ii) any Additional Pari Passu Agreement, and such modification shall be applicable only to the matter specified. No waiver of any provision of this Agreement, and no consent to any
departure by any of Grantors herefrom, shall in any event be effective unless the same shall be in writing and signed by the Collateral Agent, and then such waiver or consent shall be effective only in the specific instance and for the specific
purpose for which given. 
 SECTION 11.7. Notices. All notices and other communications provided for hereunder shall be given in the
form and manner and delivered to the Collateral Agent or the Trustee at its address specified in the Indenture, to any of the Grantors at their respective addresses specified in the Indenture and to any Additional Pari Passu Agent, to it at the
address specified in the applicable Additional Pari Passu Joinder Agreement or, as to any party, at such other address as shall be designated by such party in a written notice to the other parties. 

SECTION 11.8. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK,
WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF. 
 SECTION 11.9. CONSENT TO JURISDICTION; SERVICE OF PROCESS; WAIVER OF JURY
TRIAL. 
 (a) EACH GRANTOR IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE
COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS
AGREEMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH GRANTOR IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH GRANTOR AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER
MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT SHALL AFFECT ANY RIGHT THAT ANY SECURED PARTY MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT AGAINST ANY GRANTOR OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.

 (b) EACH GRANTOR IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW
OR HEREAFTER HAVE TO THE LAYING OF VENUE OF 

  
 37 

 
ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT IN ANY COURT REFERRED TO IN PARAGRAPH (A) OF THIS SECTION. EACH GRANTOR HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT. 
 (c)
EACH GRANTOR AGREES THAT ANY ACTION COMMENCED BY ANY GRANTOR ASSERTING ANY CLAIM OR COUNTERCLAIM ARISING UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER NOTE DOCUMENT SHALL BE BROUGHT SOLELY IN A COURT OF THE STATE OF NEW YORK SITTING IN NEW
YORK COUNTY OR ANY FEDERAL COURT SITTING THEREIN. 
 (d) EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED
FOR NOTICES IN SECTION 11.7. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 

(e) 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 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 NOTE DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

SECTION 11.10. Severability of Provisions. Any provision hereof which is prohibited or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting the validity or enforceability of such provision in any other jurisdiction. 

SECTION 11.11. Execution in Counterparts. This Agreement and any amendments, waivers, consents or supplements hereto may be executed in
any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original, but all such counterparts together shall constitute one and the same agreement. 

SECTION 11.12. No Release. Nothing set forth in this Agreement shall relieve any Grantor from the performance of any term, covenant,
condition or agreement on such Grantor’s part to be performed or observed under or in respect of any of the Collateral or from any liability to any Person under or in respect of any of the Collateral or shall impose any obligation on the
Collateral Agent or any other Secured Party to perform or observe any such term, covenant, 

  
 38 

 
condition or agreement on such Grantor’s part to be so performed or observed or shall impose any liability on the Collateral Agent or any other Secured Party for any act or omission on the
part of such Grantor relating thereto or for any breach of any representation or warranty on the part of such Grantor contained in this Agreement, the Indenture and each Permitted Additional Pari Passu Lien Agreement or the other Note Documents, or
under or in respect of the Collateral or made in connection herewith or therewith. The obligations of each Grantor contained in this SECTION 11.12 shall survive the termination hereof and the discharge of such Grantor’s other obligations
under this Agreement, the Indenture and each Permitted Additional Pari Passu Lien Agreement and the other Note Documents. 
 SECTION 11.13.
Obligations Absolute. All obligations of each Grantor hereunder shall be absolute and unconditional irrespective of: 

(a) any bankruptcy, insolvency, reorganization, arrangement, readjustment, composition, liquidation or the like of any Grantor;

 (b) any lack of validity or enforceability of the Indenture and each Permitted Additional Pari Passu Lien Agreement or any
other Note Document, or any other agreement or instrument relating thereto; 
 (c) any change in the time, manner or place of
payment of, or in any other term of, all or any of the Secured Obligations, or any other amendment or waiver of or any consent to any departure from the Indenture and each Permitted Additional Pari Passu Lien Agreement or any other Note Document or
any other agreement or instrument relating thereto; 
 (d) any pledge, exchange, release or non-perfection of any other
collateral, or any release or amendment or waiver of or consent to any departure from any guarantee, for all or any of the Secured Obligations; 

(e) any exercise, non-exercise or waiver of any right, remedy, power or privilege under or in respect hereof, the Indenture and
each Permitted Additional Pari Passu Lien Agreement or any other Note Document except as specifically set forth in a waiver granted pursuant to the provisions of SECTION 11.6 hereof; or 

(f) any other circumstances which might otherwise constitute a defense available to, or a discharge of, any Grantor (other than
indefeasible payment in full in cash of Secured Obligations). 
 SECTION 11.14. Intercreditor Agreement. Notwithstanding anything
herein to the contrary, the Liens and security interests granted to the Collateral Agent pursuant to this Agreement, and the exercise of any right or remedy by the Collateral Agent hereunder, are subject to the provisions of the Intercreditor
Agreement. In the event of any conflict between the terms of the Intercreditor Agreement and the terms of this Agreement, the terms of the Intercreditor Agreement shall govern and control. 

  
 39 

 SECTION 11.15. Permitted Additional Pari Passu Lien Obligations. On or after the Issue
Date, the Issuers may from time to time designate additional obligations as Permitted Additional Pari Passu Obligations by delivering to the Collateral Agent, the Trustee and each Additional Pari Passu Agent (a) an Officer’s Certificate
(i) identifying the obligations so designated and the aggregate principal amount or face amount thereof, stating that such obligations are designated as “Permitted Additional Pari Passu Obligations” for purposes hereof,
(ii) representing that such designation complies with the terms of the Indenture and each then extant Permitted Additional Pari Passu Lien Agreement, and (iii) specifying the name and address of the Additional Pari Passu Agent for such
obligations (if other than the Trustee); (b) except in the case of Additional Notes, a fully executed Additional Pari Passu Joinder Agreement (in the form attached as Annex 2); and (c) an Opinion of Counsel to the effect that the
designation of such obligations as “Permitted Additional Pari Passu Obligations” does not violate the terms of the Indenture or any then extant Permitted Additional Pari Passu Lien Agreement (upon which the Collateral Agent may
conclusively and exclusively rely) subject to the qualifications specified therein. 
 SECTION 11.16. Incorporation by Reference. In
connection with its execution and acting hereunder, the Collateral Agent is entitled to all rights, privileges, benefits, protections, immunities and indemnities provided to it under the Indenture. 

By accepting the benefits of this Agreement and the other Security Documents, each Secured Party agrees that it is bound by (i) the terms
of the Intercreditor Agreement applicable to such Secured Party and (ii) the provisions of EXHIBIT 4 hereto. 
 SECTION 11.17.
Certain Directions. The Collateral Agent shall comply with any direction to enter into amendments to the Intercreditor Agreement or an additional intercreditor agreement with the agent for the holders of any ABL Obligations given to it by
(A) the Trustee pursuant to Section 10.01 of the Indenture or (B) any Additional Pari Passu Agent pursuant to any similar provision of a Permitted Additional Pari Passu Lien Agreement, provided in the case of clause (A) and
(B) that such direction is not inconsistent with this Agreement or the Indenture. 
 SECTION 11.18. ABL Priority
Collateral. Notwithstanding anything herein to the contrary, prior to the Discharge of ABL Obligations (as defined in the Intercreditor Agreement), the requirements of this Agreement to deliver or grant control over ABL Priority Collateral
to the Collateral Agent shall be deemed satisfied by delivery of or granting control over such ABL Priority Collateral to the ABL Agent as bailee for the Collateral Agent pursuant to the Intercreditor Agreement.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 40 

 IN WITNESS WHEREOF, the Grantors and the Collateral Agent have caused this Agreement to be duly
executed and delivered by their duly authorized officers as of the date first above written. 
  

			
	TOPS MARKETS, LLC, as a Grantor
	By:	 	 
	Name:	 	 
	Title:	 	 
	
	TOPS HOLDING CORPORATION, as a Grantor
		
	By:	 	 
	Name:	 	 
	Title:	 	 
	
	TOPS GIFT CARD COMPANY, LLC, as a Grantor
		
	By:	 	 
	Name:	 	 
	Title:	 	 
	
	TOPS PT, LLC, as a Grantor
		
	By:	 	Tops Markets, LLC, its sole member
		
	By:	 	 
	Name:	 	 
	Title:	 	 
	
	U.S. BANK NATIONAL ASSOCIATION, as Collateral Agent
		
	By:	 	 
	Name:	 	 
	Title:	 	 

 Signature Page to Security Agreement 

 SCHEDULE I 

Intercompany Notes 
  

																	
	 
ISSUER
	  	PRINCIPAL
AMOUNT	 	  	DATE OF
ISSUANCE	 	  	INTEREST
RATE	 	 	MATURITY
DATE	 
	 Tops Markets, LLC
	  	$	3,040,773	  	  	 	October 3, 2008	  	  	 	8	% 	 	 	December 31, 2013	  

 SCHEDULE II 

Filings, Registrations and Recordings 
  

							
	 Type of Filing
	 	 Entity
	 	Applicable Collateral
Document	 	Jurisdictions
	UCC—1 Financing Statement	 	Tops Holding Corporation	 	Security Agreement	 	Secretary of State, Delaware
				
	UCC—1 Financing Statement	 	Tops Markets, LLC	 	Security Agreement	 	Secretary of State, New York
				
	UCC—1 Financing Statement	 	Tops Gift Card Company, LLC	 	Security Agreement	 	Secretary of State, Virginia
				
	UCC—1 Financing Statement	 	Tops PT, LLC	 	Security Agreement	 	Secretary of State, New York
				
	Mortgage, Assignment of Leases and Rents and Fixture Filing	 	Tops Markets, LLC	 	Mortgage	 	Eric County Clerk’s Office
				
	Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing	 	Tops PT, LLC	 	Mortgage	 	Onondaga County Clerk’s
Office
				
	Intellectual Property Filing	 	Tops Markets, LLC	 	Trademark Security Agreement	 	United State Patent and
Trademark Office
				
	Intellectual Property Filing	 	Tops PT, LLC	 	Trademark Security Agreement	 	United State Patent and
Trademark Office

 SCHEDULE III 

Pledged Interests 
  

													
	 Grantor
	  	 Issuer
	  	 Type of
Organization
	  	 # of Shares Owned
	  	 Total Shares
Outstanding
	  	 % of Interest
Pledged
	  	 Certificate No. 
(if uncertificated,
please indicate
so)

	Tops Holding Corporation	  	Tops Markets, LLC	  	Limited Liability Company	  	100%	  	N/A	  	100%	  	002
	Tops Markets, LLC	  	Tops Gift Card Company, LLC	  	Limited Liability Company	  	100%	  	N/A	  	100%	  	1
	Tops Markets, LLC	  	Tops PT, LLC	  	Limited Liability Company	  	100%	  	N/A	  	100%	  	N/A
	Tops Markets, LLC	  	Western New York Beverage Industry Collection and Sorting LP	  	Limited Partnership	  	2.43%	  	N/A	  	100%	  	N/A
	Tops Markets, LLC	  	The Kroger Co.	  	Corporation	  	40 shares	  	N/A	  	100%	  	 CB413348
 CB 434254

CB 496099

	Tops Markets, LLC	  	Wal-Mart Stores, Inc.	  	Corporation	  	20 shares	  	N/A	  	100%	  	SL1070043
	Tops Markets, LLC	  	Topco Holdings, Inc.	  	Cooperative	  	600 shares	  	N/A	  	100%	  	C242
	Tops Markets, LLC	  	K-II Telecommunications	  	Partnership	  	0.408%	  	N/A	  	100%	  	N/A

 SCHEDULE IV 

Certain Existing Liens 
  

											
	 Debtor
	  	 State/

Jurisdiction
	  	 UCC Type

File # and File Date
	  	 Tax Liens,

Judgments,
 Bankruptcy
	  	 Secured Party
	  	 Collateral

Description

	TOPS GIFT CARD COMPANY, LLC	  	Virginia SOS	  	 UCC-1

#091009 7242 6
 10/08/09
	  	N/A	  	Bank of America, N.A., as Collateral Agent	  	All Assets
						
	TOPS GIFT CARD COMPANY, LLC	  	Virginia SOS	  	 UCC-1

#09100972414
 10/08/09
	  	N/A	  	U.S. Bank National Association, as Collateral Agent	  	All Assets
						
	TOPS HOLDING CORPORATION	  	Delaware SOS	  	 UCC-1

#2009 3238910
 10/08/09
	  	N/A	  	Bank of America, N.A., as Collateral Agent	  	All Assets
						
	TOPS HOLDING CORPORATION	  	Delaware SOS	  	 UCC-1

#2009 3240873
 10/08/09
	  	N/A	  	U.S. Bank National Association, as Collateral Agent	  	All Assets
						
	TOPS MARKETS, LLC	  	New York SOS	  	 UCC-1

#007016
 01/10/02
	  	N/A	  	Rochester Urban Renewal Agency	  	Trade Equipment (All trade equipment of debtor located at its supermarket at 710 Lake Avenue, Rochester, NY)

  
 1 

											
	 Debtor
	  	 State/

Jurisdiction
	  	 UCC Type

File # and File Date
	  	 Tax Liens,

Judgments,
 Bankruptcy
	  	 Secured Party
	  	 Collateral

Description

	TOPS MARKETS, LLC	  	 New York SOS
	  	 UCC-1

#200411101135101

11/10/04
	  	 N/A
	  	 The Buffalo Economic Renaissance Corporation
	  	 Blanket Lien. All of Debtor’s machinery, equipment, ... in connection with certain Security
Agreement dated July 16, 2003 among Tops Market, LLC, ARP Jefferson Avenue & Riley Street LLC and The Buffalo Economic Renaissance Corporation

						
	TOPS MARKETS, LLC	  	 New York SOS
	  	 UCC-1

#200509221027940

09/22/05
	  	 N/A
	  	 Hallmark Marketing Corporation
	  	 Inventory

(Consigned goods)

						
	TOPS MARKETS, LLC	  	 New York SOS
	  	 UCC-1

#200801240073508

01/24/08
	  	 N/A
	  	 American Bank Note Company, as agent for the USPS
	  	 Consigned Goods

						
	TOPS MARKETS, LLC	  	 New York SOS
	  	 UCC-1

#200910085908068

10/08/09
	  	 N/A
	  	 Bank of America, N.A., as Collateral Agent
	  	 All Assets

						
	TOPS MARKETS, LLC	  	 New York SOS
	  	 UCC-1

#200910080581425

10/08/09
	  	 N/A
	  	 U.S. Bank National Association, as Collateral Agent
	  	 All Assets

						
	TOPS MARKETS, LLC	  	 New York SOS
	  	 UCC-1

#201009145895961

09/14/10
	  	 N/A
	  	 Sony Music Entertainment
	  	 Chattel, Inventory, Accounts

  
 2 

											
	 Debtor
	  	 State/

Jurisdiction
	  	 UCC Type

File # and File Date
	  	 Tax Liens,

Judgments,
 Bankruptcy
	  	 Secured Party
	  	 Collateral

Description

	TOPS MARKETS, LLC	  	New York SOS	  	 UCC-1

#201201030001449
 01/03/12
	  	N/A	  	Rochester Economic Development Corporation	  	 Note: Fixture Filing

Schedule A attached is a Sales Contract

						
	TOPS MARKETS, LLC	  	New York SOS	  	 UCC-1

#201201030001463
 01/03/12
	  	N/A	  	Rochester Economic Development Corporation	  	 Note: Fixture Filing

Trade Equipment

						
	TOPS MARKETS, LLC	  	New York SOS	  	 UCC-1

#201201030001487
 01/03/12
	  	N/A	  	Rochester Economic Development Corporation	  	 Note: Fixture Filing

Trade Equipment

						
	TOPS PT, LLC	  	New York SOS	  	 UCC-1

#2010001290055896
 01/29/10
	  	N/A	  	Bank of America, N.A., as Collateral Agent	  	All Assets
						
	TOPS PT, LLC	  	New York SOS	  	 UCC-1

#201001290055911
 01/29/10
	  	N/A	  	U.S. Bank National Association, as Collateral Agent	  	All Assets

  
 3 

 EXHIBIT 1 

FORM OF SUPPLEMENT TO SECURITY AGREEMENT 

Supplement No.              (this “Supplement”) dated as of
                    , 20    , to the Security Agreement dated as of December 20, 2012 (as amended, restated, supplemented or
otherwise modified from time to time, the “Security Agreement”) among each of the parties listed on the signature pages thereto and those additional entities that thereafter become parties thereto (collectively, jointly and
severally, “Grantors” and each individually “Grantor”) and U.S. Bank National Association, in its capacity as Collateral Agent for the Secured Parties (together with its successors, “Collateral
Agent”), U.S. Bank National Association as Trustee and each Additional Pari Passu Agent party thereto. 
 W I T N E S S E T H: 

WHEREAS, capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Security
Agreement; and 
 WHEREAS, pursuant to the Indenture or an Permitted Additional Pari Passu Lien Agreement, the new Grantor must execute and
deliver a supplement to the Security Agreement, and the execution of the Security Agreement by the undersigned new Grantor or Grantors (collectively, the “New Grantors”) may be accomplished by the execution of this Supplement in
favor of Collateral Agent, for the benefit of Secured Parties; 
 NOW, THEREFORE, for and in consideration of the foregoing and other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each New Grantor hereby agrees as follows: 
 1. In
accordance with SECTION 4.5 of the Security Agreement, each New Grantor, by its signature below, becomes a “Grantor” under the Security Agreement with the same force and effect as if originally named therein as a “Grantor”
and each New Grantor hereby (a) agrees to all of the terms and provisions of the Security Agreement applicable to it as a “Grantor” thereunder and (b) represents and warrants that the representations and warranties made by it as
a “Grantor” thereunder are true and correct on and as of the date hereof. In furtherance of the foregoing, each New Grantor, as security for the payment and performance in full of the Secured Obligations, does hereby grant, assign, and
pledge to Collateral Agent, for the benefit of the Secured Parties, a security interest in and security title to all Collateral of such New Grantor to secure the full and prompt payment of the Secured Obligations, including, any interest thereon,
plus reasonable attorneys’ fees and expenses if the Secured Obligations represented by the Security Agreement are collected by law, through an attorney-at-law, or under advice therefrom. Each reference to a “Grantor” in the Security
Agreement shall be deemed to include each New Grantor. The Security Agreement is incorporated herein by reference. 
 2. Each New Grantor
represents and warrants to the Collateral Agent that this Supplement has been duly executed and delivered by such New Grantor and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as

  
 1 

 
enforceability thereof may be limited by bankruptcy, insolvency, reorganization, fraudulent transfer, moratorium or other similar laws affecting creditors’ rights generally and general
principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity). 
 3. This Supplement may
be executed in multiple counterparts, each of which shall be deemed to be an original, but all such separate counterparts shall together constitute but one and the same instrument. Delivery of a counterpart hereof by facsimile transmission or by
e-mail transmission shall be as effective as delivery of a manually executed counterpart hereof. 
 4. Except as expressly supplemented
hereby, the Security Agreement shall remain in full force and effect. 
 5. This Supplement shall be construed in accordance with and
governed by the laws of the State of New York without regard to the conflict of laws principles thereof. 
 [REMAINDER OF THIS PAGE
INTENTIONALLY LEFT BLANK] 

  
 2 

 IN WITNESS WHEREOF, each New Grantor and Collateral Agent have duly executed this Supplement as
of the day and year first above written. 
  

			
	[Name of New Grantor]
		
	By:	 	 
	Name:	 	 
	Title:	 	 
	
	[Name of Collateral Agent]:
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 3 

 EXHIBIT 2 

FORM OF SECURITIES PLEDGE AMENDMENT 

This Securities Pledge Amendment, dated as of
                    , is delivered pursuant to SECTION 6.1 of that certain Security Agreement (as amended, modified, supplemented or restated
and in effect from time to time, the “Security Agreement;” capitalized terms used but not otherwise defined herein shall have the meanings assigned to such terms in the Security Agreement), dated as of December 20, 2012, made
by (i) TOPS HOLDING CORPORATION (in such capacity, “Tops Holding”) (ii) TOPS MARKETS, LLC (in such capacity, the “Tops Markets” and, together with Tops Holding, collectively, the
“Issuers”), and (iii) THE GUARANTORS party thereto from time to time (the “Guarantors”), as pledgors, assignors and debtors (the Issuers, together with the Guarantors, in such capacities and together with any
successors in such capacities, the “Grantors,” and each, a “Grantor”), in favor of U.S. Bank National Association, having an office at 100 Wall Street, Suite 1600, New York, New York 10005, in its capacity as
collateral agent for the Secured Parties, as pledgee, assignee and secured party (in such capacities and together with any successors in such capacities, the “Collateral Agent”). The undersigned hereby agrees that this Securities
Pledge Amendment may be attached to the Security Agreement and that the Pledged Securities and/or Intercompany Notes listed on this Securities Pledge Amendment shall be deemed to be and shall become part of the Collateral and shall secure all
Secured Obligations. 

 PLEDGED SECURITIES 
  

											
	 

ISSUER
	  	CLASS
OF STOCK
OR
INTERESTS	  	

PAR
VALUE	  	

CERTIFICATE
NO(S).	  	NUMBER
OF SHARES
OR
INTERESTS	  	PERCENTAGE
OF
ALL ISSUED
CAPITAL
OR OTHER
EQUITY
INTERESTS
OF ISSUER

 INTERCOMPANY NOTES 
  

									
	 
ISSUER
	  	PRINCIPAL
AMOUNT	  	DATE OF
ISSUANCE	  	INTEREST
RATE	  	MATURITY
DATE

  

			
	[                              
                                         
             ],
	             as
Grantor

  

			
	 By:
	 	 
		 	 Name:

		 	 Title:

 

			
	AGREED TO AND ACCEPTED:
	
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Collateral Agent

		
	By:	 	 
		 	Name:
		 	Title:

 EXHIBIT 3 

[FORM OF ADDITIONAL PARI PASSU JOINDER AGREEMENT] 

The undersigned (the “Additional Pari Passu Agent”) is the agent for Persons wishing to become “Secured Parties”
(the “New Secured Parties”) under the Security Agreement, dated as of December 20, 2012 (as amended, restated, supplemented or otherwise modified from time to time, the “Security Agreement” (terms used without
definition herein have the meanings assigned to such terms by the Security Agreement)) among Grantors party thereto and U.S. Bank National Association, as Collateral Agent (the “Collateral Agent”) and the other Security Documents.

 In consideration of the foregoing, the undersigned hereby: 

(i) represents that the Additional Pari Passu Agent has been authorized by the New Secured Parties to become a party to the
Security Agreement on behalf of the New Secured Parties under that [DESCRIBE OPERATIVE AGREEMENT] (the “New Secured Agreement”) and to act as the Additional Pari Passu Agent for the New Secured Parties hereunder and under the
Security Agreement and other Security Documents; 
 (ii) acknowledges that the New Secured Parties have had made available to
it a copy of the Security Agreement and other Security Documents; 
 (iii) irrevocably appoints and authorizes the Collateral
Agent to take such action as agent on its behalf and on behalf of the New Secured Parties and to exercise such powers under the Security Agreement and the other Security Documents as are delegated to the Collateral Agent by the terms thereof,
together with all such powers as are reasonably incidental thereto; and 
 (iv) accepts and acknowledges the terms of the
Security Agreement applicable to it and the New Secured Parties and agrees to serve as Additional Pari Passu Agent for the New Secured Parties with respect to the Secured Obligations under the New Secured Agreement and agrees on its own behalf and
on behalf of the New Secured Parties to be bound by the terms of the Security Agreement and the other Security Documents applicable to holders of Secured Obligations, with all the rights and obligations of a Secured Party thereunder and bound by all
the provisions thereof as fully as if it had been a Secured Party on the effective date of the Security Agreement. 
 The name and address
of the representative for purposes of SECTION 11.7 of the Security Agreement are as follows: 
 [Name and Address of Additional
Pari Passu Agent] 

 IN WITNESS WHEREOF, the undersigned has caused this Additional Pari Passu Joinder Agreement to be
duly executed by its authorized officer as of the      day of 20    . 
  

			
	[NAME]
		
	By:	 	 
		 	Name:
		 	Title:
	
	Consented to:
	
	[GRANTORS]
		
	By:	 	 
		 	Name:
		 	Title:

  
 2 

 EXHIBIT 4 

THE COLLATERAL AGENT AND 
 SECURED
PARTY ACKNOWLEDGMENTS1 
 Acknowledgment of Priorities of Security Interests and
Liens; Application of Proceeds. 
 (a) Each of the Secured Parties acknowledges and agrees that, notwithstanding the
date, time or creation of any Liens securing any of the Secured Obligations under the Security Agreement or the Security Documents, the Secured Obligations shall be equally and ratably secured by the Liens of the Security Agreement and the Security
Documents and all Liens securing any of the Secured Obligations (and any proceeds received from the enforcement of any such Liens) shall be for the equal and ratable benefit of all Secured Parties and shall be applied as provided in clause
(c) below. Each Secured Party, by its acceptance of the benefits hereunder and of the Security Documents, agrees for the benefit of the other Secured Parties that, to the extent any additional or substitute collateral for any of the Secured
Obligations is delivered by a Grantor to or for the benefit of any Secured Party, such collateral shall be subject to the provisions of this clause (a). 

(b) Each of the Secured Parties hereby agrees not to challenge or question in any proceeding the validity or enforceability of
any Security Document (in each case as a whole or any term or provision contained therein) or the validity of any Lien or financing statement in favor of the Collateral Agent for the benefit of the Secured Parties as provided in the Security
Agreement and the other Security Documents, or the relative priority of any such Lien. Each Secured Party consents to the release of Trust Monies from the Collateral Account in accordance with Article 12 of the Indenture. 

(c) Subject to the Intercreditor Agreement, the proceeds received by the Collateral Agent in respect of any sale of, collection
from or other realization upon all or any part of the Collateral under this Agreement or any other Security Document (excluding funds deposited with the Trustee or any Additional Pari Passu Agent, in such capacities, in connection with any
defeasance or discharge of the Indenture or any Permitted Additional Pari Passu Lien Agreement, which shall be applied as provided therein) shall be applied, together with any other sums then held by the Collateral Agent pursuant to this Agreement
or in the Collateral Account, promptly by the Collateral Agent as follows: 
 FIRST, to the payment of all costs and
expenses, liabilities, fees, commissions and taxes paid or payable by the Collateral Agent under this Agreement or any Security Document including, without limitation, the costs and expenses of 

the Collateral Agent and its agents and counsel, and all expenses, liabilities and advances made or incurred by the Collateral Agent in
connection therewith; 
  

	1 	 Unless otherwise defined herein, all capitalized terms used herein and defined in the Security Agreement, are used herein as therein defined.

 SECOND, without duplication of amounts applied pursuant to clause
FIRST above, to the payment in full in cash, pro rata, based on the amount of Secured Obligations outstanding under the Indenture and each Permitted Additional Pari Passu Lien Agreement and then due and owing to (i) the Trustee to
be applied as provided in the Indenture, and (ii) each Additional Pari Passu Agent to be applied as provided in the applicable Permitted Additional Pari Passu Lien Agreement; and 

THIRD, the balance, if any, to such Grantor or as otherwise directed by a court of competent jurisdiction. 

If, despite the provisions of this Agreement, any Secured Party shall receive any payment or other recovery in excess of its portion of
payments on account of the Secured Obligations to which it is then entitled in accordance with this Agreement, such Secured Party shall hold such payment or recovery in trust for the benefit of all Secured Parties for distribution in accordance with
this EXHIBIT 4. 
 Enforcement. 

Subject to the Collateral Agent’s rights under SECTION 11.1 of this Agreement, the Required Secured Parties may direct the
Collateral Agent in exercising any right or remedy available to the Collateral Agent under this Agreement or any Security Document. In the absence of any such instruction, the Collateral Agent may (but shall be under no obligation to) exercise such
rights and remedies in any manner that complies with SECTION 11.1 of this Agreement. No Secured Party (other than the Collateral Agent) shall have any individual right to pursue any remedies under this Agreement against any Grantor. 

Notwithstanding the foregoing, in the event of any determination by a court of competent jurisdiction that (i) any of the Permitted
Additional Pari Passu Obligations is unenforceable under applicable law or are subordinated to any other obligations, (ii) any of the Permitted Additional Pari Passu Obligations does not have an enforceable security interest in any of the
Collateral and/or (iii) any intervening security interest exists securing any other obligations (other than other Secured Obligations) on a basis ranking prior to the security interest of such Permitted Additional Pari Passu Obligations but
junior to the security interest of the Notes Obligations (any such condition referred to in the foregoing clauses (i), (ii) or (iii) with respect to any Permitted Additional Pari Passu Obligations, an “Impairment” of such
Permitted Additional Pari Passu Obligations), the results of such Impairment shall be borne solely by the holders of such Permitted Additional Pari Passu Obligations, and the rights of the holders of such Permitted Additional Pari Passu Obligations
(including, without limitation, the right to receive distributions in respect of such Permitted Additional Pari Passu Obligations) set forth herein shall be modified to the extent necessary so that the effects of such Impairment are borne solely by
the holders of such Permitted Additional Pari Passu Obligations subject to such Impairment. Notwithstanding the foregoing, with respect to any Collateral for which a third party (other than a Secured Party) has a lien or security interest that is
junior in priority to the security interest of the holders of the 

  
 2 

 
Notes Obligations but senior (as determined by appropriate legal proceedings in the case of any dispute) to the security interest of any other Secured Obligations (such third party, an
“Intervening Creditor”), the value of any Collateral or proceeds which are allocated to such Intervening Creditor shall be deducted on a ratable basis solely from the Collateral or proceeds to be distributed in respect of the
Secured Obligations with respect to which such Impairment exists. 

  
 3 

 SCHEDULE I 

Intercompany Notes 
  

																	
	 
ISSUER
	  	PRINCIPAL
AMOUNT	 	  	DATE OF
ISSUANCE	 	  	INTEREST
RATE	 	 	MATURITY
DATE	 
	 Tops Markets, LLC
	  	$	3,040,773	  	  	 	October 3, 2008	  	  	 	8	% 	 	 	December 31, 2013	  

 SCHEDULE II 

Filings, Registrations and Recordings 
  

							
	 Type of Filing
	 	 Entity
	 	Applicable Collateral
Document	  	Jurisdictions
	UCC—1 Financing Statement	 	Tops Holding Corporation	 	Security Agreement	  	Secretary of State, Delaware
				
	UCC—1 Financing Statement	 	Tops Markets, LLC	 	Security Agreement	  	Secretary of State, New York
				
	UCC—1 Financing Statement	 	Tops Gift Card Company, LLC	 	Security Agreement	  	Secretary of State, Virginia
				
	UCC—1 Financing Statement	 	Tops PT, LLC	 	Security Agreement	  	Secretary of State, New York
				
	Mortgage, Assignment of Leases and Rents and Fixture Filing	 	Tops Markets, LLC	 	Mortgage	  	Eric County Clerk’s Office
				
	Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing	 	Tops PT, LLC	 	Mortgage	  	Onondaga County Clerk’s Office
				
	Intellectual Property Filing	 	Tops Markets, LLC	 	Trademark Security
Agreement	  	United State Patent and Trademark Office
				
	Intellectual Property Filing	 	Tops PT, LLC	 	Trademark Security
Agreement	  	United State Patent and Trademark Office

 SCHEDULE III 

Pledged Interests 
  

													
	 Grantor
	  	 Issuer
	  	 Type of
Organization
	  	 # of Shares Owned
	  	 Total Shares
Outstanding
	  	 % of Interest
Pledged
	  	 Certificate No. 
(if uncertificated,
please indicate
so)

	Tops Holding Corporation	  	Tops Markets, LLC	  	Limited Liability Company	  	100%	  	N/A	  	100%	  	002
							
	Tops Markets, LLC	  	Tops Gift Card Company, LLC	  	Limited Liability Company	  	100%	  	N/A	  	100%	  	1
							
	Tops Markets, LLC	  	Tops PT, LLC	  	Limited Liability Company	  	100%	  	N/A	  	100%	  	N/A
							
	Tops Markets, LLC	  	Western New York Beverage Industry Collection and Sorting LP	  	Limited Partnership	  	2.43%	  	N/A	  	100%	  	N/A
							
	Tops Markets, LLC	  	The Kroger Co.	  	Corporation	  	40 shares	  	N/A	  	100%	  	 CB413348
 CB 434254

CB 496099

							
	Tops Markets, LLC	  	Wal-Mart Stores, Inc.	  	Corporation	  	20 shares	  	N/A	  	100%	  	SL1070043
							
	Tops Markets, LLC	  	Topco Holdings, Inc.	  	Cooperative	  	600 shares	  	N/A	  	100%	  	C242
							
	Tops Markets, LLC	  	K-II Telecommunications	  	Partnership	  	0.408%	  	N/A	  	100%	  	N/A

 SCHEDULE IV 

Certain Existing Liens 
  

											
	 Debtor
	  	 State/Jurisdiction
	  	 UCC Type

File # and File Date
	  	 Tax Liens,

Judgments,
 Bankruptcy
	  	 Secured Party
	  	 Collateral

Description

	TOPS GIFT CARD COMPANY, LLC	  	Virginia SOS	  	 UCC-1

#091009 7242 6
 10/08/09
	  	N/A	  	Bank of America, N.A., as Collateral Agent	  	All Assets
						
	TOPS GIFT CARD COMPANY, LLC	  	Virginia SOS	  	 UCC-1

#09100972414
 10/08/09
	  	N/A	  	U.S. Bank National Association, as Collateral Agent	  	All Assets
						
	TOPS HOLDING CORPORATION	  	Delaware SOS	  	 UCC-1

#2009 3238910
 10/08/09
	  	N/A	  	Bank of America, N.A., as Collateral Agent	  	All Assets
						
	TOPS HOLDING CORPORATION	  	Delaware SOS	  	 UCC-1

#2009 3240873
 10/08/09
	  	N/A	  	U.S. Bank National Association, as Collateral Agent	  	All Assets
						
	TOPS MARKETS, LLC	  	New York SOS	  	 UCC-1

#007016
 01/10/02
	  	N/A	  	Rochester Urban Renewal Agency	  	Trade Equipment (All trade equipment of debtor located at its supermarket at 710 Lake Avenue, Rochester, NY)

											
	 Debtor
	  	 State/ Jurisdiction
	  	 UCC Type

File # and File Date
	  	 Tax Liens,

Judgments,
 Bankruptcy
	  	 Secured Party
	  	 Collateral

Description

	TOPS MARKETS, LLC	  	New York SOS	  	 UCC-1

#200411101135101
 11/10/04
	  	N/A	  	The Buffalo Economic Renaissance Corporation	  	Blanket Lien. All of Debtor’s machinery, equipment, ... in connection with certain Security Agreement dated July 16, 2003 among Tops Market, LLC, ARP Jefferson Avenue & Riley Street LLC and The Buffalo
Economic Renaissance Corporation
						
	TOPS MARKETS, LLC	  	New York SOS	  	 UCC-1

#200509221027940
 09/22/05
	  	N/A	  	Hallmark Marketing Corporation	  	 Inventory

(Consigned goods)

						
	TOPS MARKETS, LLC	  	New York SOS	  	 UCC-1

#200801240073508
 01/24/08
	  	N/A	  	American Bank Note Company, as agent for the USPS	  	Consigned Goods
						
	TOPS MARKETS, LLC	  	New York SOS	  	 UCC-1

#200910085908068
 10/08/09
	  	N/A	  	Bank of America, N.A., as Collateral Agent	  	All Assets
						
	TOPS MARKETS, LLC	  	New York SOS	  	 UCC-1

#200910080581425
 10/08/09
	  	N/A	  	U.S. Bank National Association, as Collateral Agent	  	All Assets
						
	TOPS MARKETS, LLC	  	New York SOS	  	 UCC-1

#201009145895961
 09/14/10
	  	N/A	  	Sony Music Entertainment	  	Chattel, Inventory, Accounts

											
	 Debtor
	  	 State/ Jurisdiction
	  	 UCC Type

File # and File Date
	  	 Tax Liens,

Judgments,
 Bankruptcy
	  	 Secured Party
	  	 Collateral

Description

	TOPS MARKETS, LLC	  	New York SOS	  	 UCC-1

#201201030001449
 01/03/12
	  	N/A	  	Rochester Economic Development Corporation	  	 Note: Fixture Filing

Schedule A attached is a Sales Contract

						
	TOPS MARKETS, LLC	  	New York SOS	  	 UCC-1

#201201030001463
 01/03/12
	  	N/A	  	Rochester Economic Development Corporation	  	 Note: Fixture Filing

Trade Equipment

						
	TOPS MARKETS, LLC	  	New York SOS	  	 UCC-1

#201201030001487
 01/03/12
	  	N/A	  	Rochester Economic Development Corporation	  	 Note: Fixture Filing

Trade Equipment

						
	TOPS PT, LLC	  	New York SOS	  	 UCC-1

#2010001290055896
 01/29/10
	  	N/A	  	Bank of America, N.A., as Collateral Agent	  	All Assets
						
	TOPS PT, LLC	  	New York SOS	  	 UCC-1

#201001290055911
 01/29/10
	  	N/A	  	U.S. Bank National Association, as Collateral Agent	  	All Assets

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}]]