Document:

Senior Bridge Term Loan Credit Agreement

 Exhibit 10.2 
 EXECUTION VERSION 
 U.S. $2,300,000,000 

SENIOR BRIDGE TERM LOAN CREDIT AGREEMENT 
 Dated as of February 29, 2012 
 Among 

EASTMAN CHEMICAL COMPANY 
 as Borrower 
 THE INITIAL LENDERS NAMED HEREIN 

as Initial Lenders 
 CITIBANK, N.A. 
 as Administrative Agent 

CITIGROUP GLOBAL MARKETS INC. 
 and 
 BARCLAYS CAPITAL 

as Joint Lead Arrangers 
 BARCLAYS CAPITAL 
 as Syndication Agent 

and 
 BANK OF
AMERICA, N.A. 
 JPMORGAN CHASE BANK, N.A. 
 RBS SECURITIES INC. 
 WELLS FARGO BANK, NATIONAL ASSOCIATION

 as Co-Arrangers 

 TABLE OF CONTENTS 

 
  

 

							
	 	 	 	  	PAGE	 
	
	ARTICLE 1	  
	DEFINITIONS AND ACCOUNTING TERMS	  
			
	 Section 1.01.
	 	Certain Defined Terms	  	 	1	  
	 Section 1.02.
	 	Computation of Time Periods	  	 	18	  
	 Section 1.03.
	 	Accounting Terms	  	 	18	  
	
	ARTICLE 2	  
	AMOUNTS AND TERMS OF THE ADVANCES	  
			
	 Section 2.01.
	 	Commitments	  	 	19	  
	 Section 2.02.
	 	Making the Advance	  	 	19	  
	 Section 2.03.
	 	Fees	  	 	20	  
	 Section 2.04.
	 	Termination or Reduction of the Commitments	  	 	20	  
	 Section 2.05.
	 	Repayment of Advances	  	 	21	  
	 Section 2.06.
	 	Interest on Advances	  	 	21	  
	 Section 2.07.
	 	Interest Rate Determination	  	 	22	  
	 Section 2.08.
	 	Optional Conversion of Advances	  	 	23	  
	 Section 2.09.
	 	Prepayments of Advances	  	 	23	  
	 Section 2.10.
	 	Increased Costs	  	 	24	  
	 Section 2.11.
	 	Illegality	  	 	25	  
	 Section 2.12.
	 	Payments and Computations	  	 	25	  
	 Section 2.13.
	 	Taxes	  	 	26	  
	 Section 2.14.
	 	Sharing of Payments, Etc.	  	 	28	  
	 Section 2.15.
	 	Evidence of Debt	  	 	29	  
	 Section 2.16.
	 	Use of Proceeds	  	 	29	  
	 Section 2.17.
	 	Mitigation Obligations; Replacement of Lenders	  	 	30	  
	
	ARTICLE 3	  
	CONDITIONS TO EFFECTIVENESS AND LENDING	  
			
	 Section 3.01.
	 	Conditions Precedent to Effectiveness	  	 	31	  
	 Section 3.02.
	 	Conditions Precedent to Closing	  	 	32	  
	 Section 3.03.
	 	Determinations Under Section 3.01 and 3.02	  	 	33	  
	
	ARTICLE 4	  
	REPRESENTATIONS AND WARRANTIES	  
			
	 Section 4.01.
	 	Representations and Warranties of the Borrower	  	 	33	  

							
	ARTICLE 5	  
	COVENANTS OF THE BORROWER	  
			
	 Section 5.01.
	 	Affirmative Covenants	  	 	38	  
	 Section 5.02.
	 	Negative Covenants	  	 	42	  
	 Section 5.03.
	 	Financial Covenant	  	 	46	  
	
	ARTICLE 6	  
	EVENTS OF DEFAULT	  
			
	 Section 6.01.
	 	Events of Default	  	 	46	  
	
	ARTICLE 7	  
	THE AGENT	  
			
	 Section 7.01.
	 	Appointment and Authority	  	 	48	  
	 Section 7.02.
	 	Rights as a Lender	  	 	49	  
	 Section 7.03.
	 	Exculpatory Provisions	  	 	49	  
	 Section 7.04.
	 	Reliance by Agent	  	 	50	  
	 Section 7.05.
	 	Indemnification	  	 	50	  
	 Section 7.06.
	 	Delegation of Duties	  	 	51	  
	 Section 7.07.
	 	Resignation of Agent	  	 	51	  
	 Section 7.08.
	 	Non-Reliance on Agent and Other Lenders	  	 	52	  
	 Section 7.09.
	 	Other Agents	  	 	52	  
	
	ARTICLE 8	  
	MISCELLANEOUS	  
			
	 Section 8.01.
	 	Amendments, Etc.	  	 	52	  
	 Section 8.02.
	 	Notices, Etc.	  	 	53	  
	 Section 8.03.
	 	No Waiver; Remedies	  	 	54	  
	 Section 8.04.
	 	Costs and Expenses	  	 	54	  
	 Section 8.05.
	 	Right of Set-off	  	 	56	  
	 Section 8.06.
	 	Binding Effect	  	 	56	  
	 Section 8.07.
	 	Assignments and Participations	  	 	56	  
	 Section 8.08.
	 	Confidentiality	  	 	60	  
	 Section 8.09.
	 	Governing Law	  	 	61	  
	 Section 8.10.
	 	Execution in Counterparts	  	 	61	  
	 Section 8.11.
	 	Jurisdiction, Etc.	  	 	61	  
	 Section 8.12.
	 	Power of Attorney	  	 	62	  
	 Section 8.13.
	 	Patriot Act	  	 	62	  
	 Section 8.14.
	 	No Fiduciary Duties	  	 	62	  
	 Section 8.15.
	 	Waiver of Jury Trial	  	 	62	  
	 Section 8.16.
	 	Entire Agreement	  	 	63	  

  
 2 

 Schedules 
  

					
	 Schedule I
	 		  	Commitments
			
	 Schedule 4.01(a)
	 	–	  	Subsidiaries
			
	 Schedule 4.01(d)
	 	–	  	Disclosed Litigation
			
	 Schedule 4.01(m)
	 	–	  	Environmental Matters
			
	 Schedule 5.01(d)
	 	–	  	Tax Filings with Any Person Other than the Borrower and its Subsidiaries
			
	 Schedule 5.02(a)
	 	–	  	Leases

Exhibits 
  

					
	 Exhibit A
	 	–	  	Form of Note
			
	 Exhibit B
	 	–	  	Form of Notice of Borrowing
			
	 Exhibit C
	 	–	  	Form of Assignment and Assumption
			
	 Exhibit D
	 	–	  	Form of Opinion of Counsel for the Borrower
			
	 Exhibit E
	 	–	  	Form of Compliance Certificate
			
	 Exhibit F
	 	–	  	Form of Solvency Certificate

  
 3 

 SENIOR BRIDGE TERM LOAN CREDIT AGREEMENT 

Dated as of February 29, 2012 
 EASTMAN CHEMICAL COMPANY, a Delaware corporation (the “Borrower”), the banks, financial institutions and other institutional lenders (the “Initial Lenders”) listed on the
signature pages hereof, CITIGROUP GLOBAL MARKETS INC. and BARCLAYS CAPITAL (“Barclays Capital”), the investment banking division of BARCLAYS BANK PLC, as joint lead arrangers, BARCLAYS CAPITAL, as syndication agent, JPMORGAN CHASE BANK,
N.A., BANK OF AMERICA, N.A., RBS SECURITIES INC. and WELLS FARGO BANK, NATIONAL ASSOCIATION, as co-arrangers, and CITIBANK, N.A. (“Citibank”), as administrative agent (the “Agent”) for the Lenders (as hereinafter
defined), agree as follows: 
 ARTICLE 1 
 DEFINITIONS AND ACCOUNTING TERMS 
 Section 1.01. Certain Defined Terms. As used in this Bridge Agreement, the following terms shall have the following meanings (such meanings to be equally applicable to both the singular and
plural forms of the terms defined): 
 “Acquired Business” means Solutia Inc., a Delaware corporation and its
Subsidiaries. 
 “Acquired Business Material Adverse Effect” means any effect that (a) has had a material
adverse effect on the results of operations, assets, business or financial condition of the Acquired Business, taken as a whole, except that effects caused by any of the following, either alone or in combination, will not be taken into consideration
for the purpose of determining whether an Acquired Business Material Adverse Effect has occurred pursuant to this clause (a): (i) any changes or circumstances affecting market, economic, credit, securities market, regulatory or political
conditions in the United States or any other country in which the Acquired Business operates to the extent that such effects are not borne disproportionately by the Acquired Business; (ii) any changes or circumstances affecting any industry in
which the Acquired Business operates to the extent that such effects are not borne disproportionately by the Acquired Business; (iii) any change in the price or availability of any raw material or commodity used or sold by the Acquired
Business, provided that such effects are not borne disproportionately by the Acquired Business; (iv) any enactment of, change in, or change in interpretation of, any law or GAAP or governmental policy; (v) any acts of God, natural
disasters, terrorism, armed hostilities, sabotage, war or any escalation or worsening of acts of terrorism, armed hostilities or war, or any escalation of any of the foregoing; (vi) any changes as a result of the announcement or pendency of the
Merger Agreement or performance of the Transactions (as defined in the Merger Agreement), including by reason of the identity of the Acquired Business; (vii) any action taken pursuant to the terms of the Merger Agreement or with the consent or
at the direction of the Borrower (or any action not taken as a result of the failure of the Borrower to consent to any action requiring the Borrower’s consent); (viii) any change in the market price, or change in trading volume, of the
capital stock of the Acquired Business; (ix) any failure by the Acquired Business to meet internal, analysts’ or other earnings estimates or financial projections or forecasts for any period, or any changes in credit ratings and any
changes in any analysts’ recommendations or ratings with respect to the Acquired Business; (x) any pending, initiated, or 

 
threatened legal or administrative proceeding, claim, suit or action against the Acquired Business or any of its officers or directors, in each case, arising out of or relating to the
Transactions (as defined in the Merger Agreement) and (xi) the effect of any matters specifically disclosed in the Company Disclosure Letter or Parent Disclosure Letter (each as defined in the Merger Agreement), as applicable, or in the
registration statements, reports and proxy statements filed by the Acquired Business since January 1, 2010 (collectively, and in each case including all exhibits and schedules thereto and documents incorporated by reference therein, as such
statements and reports may have been amended since the date of their filing, the “Company Reports”), as filed or amended as through the Commitment Date but, solely for purposes of this clause (xi) and the references to the
Company Reports referenced to therein, this clause (xi) shall not be deemed to be an exclusion of consideration for any risk factor disclosure under the headings “Risk Factors,” “Forward Looking Statements” or any similar
precautionary sections in the Company Reports, or (b) would, individually or in the aggregate, prevent or materially delay the consummation by the Acquired Business of the Transaction (as defined in the Merger Agreement); 

“Acquisition” means, as to any Person, the purchase or other acquisition (in one transaction or a series of
transactions, including through a merger) of all of the equity interests of another Person or all or substantially all of the property, assets or business of another Person or of the assets constituting a business unit, line of business or division
of another Person. 
 “Administrative Questionnaire” means an Administrative Questionnaire in a form supplied
by the Agent. 
 “Advance” means an advance by a Lender to the Borrower as part of a Borrowing and refers to a
Base Rate Advance or Eurodollar Rate Advance (each of which shall be a “Type” of Advance). 

“Affiliate” means, as to any Person, any other Person that, directly or indirectly, controls, is controlled by or is
under common control with such Person or is a director or officer of such Person. For purposes of this definition, the term “control” (including the terms “controlling”, “controlled by” and “under common control
with”) of a Person means the possession, direct or indirect, of the power to vote 5% or more of the Voting Stock of such Person or to direct or cause the direction of the management and policies of such Person, whether through the ownership of
Voting Stock, by contract or otherwise. 
 “Agent’s Account” means (a) the account of the Agent
maintained by the Agent at Citibank at its office at 1615 Brett Road, Building #3, New Castle, Delaware 19720, Account No. 36852248, Attention: Bank Loan Syndications or (b) such other account of the Agent as is designated in writing from
time to time by the Agent to the Borrower and the Lenders for such purpose. 
 “Aircraft Lease” means the
Airplane Lease Agreement with Borrower, as lessee, dated March 31, 2008. 
 “Applicable Lending Office”
means, with respect to each Lender, such Lender’s Domestic Lending Office in the case of a Base Rate Advance and such Lender’s Eurodollar Lending Office in the case of a Eurodollar Rate Advance. 

  
 2 

 “Applicable Margin” means (a) with respect to Eurodollar Rate
Advances, as of any date during a period referred to below, the margin determined by reference to the Public Debt Rating in effect on such date as set forth below, expressed as a percentage and (b) with respect to Base Rate Advances, the amount
calculated in accordance with clause (a) minus 1.00%: 
 Applicable Margin for Eurodollar Rate Advances: 

 

																	
	 Public Debt

Rating

S&P/Moody’s
	  	 Level I
 BBB+ or Baa1
 or above
	 	  	 Level II
 BBB or Baa2
	 	  	 Level III
 BBB- or Baa3
	 	  	 Level IV
 Lower than
Level III
	 
	 Days from

the Closing
 Date
	  	Applicable
Margin (in basis
points)	 	  	Applicable
Margin (in basis
points)	 	  	Applicable
Margin (in basis
points)	 	  	Applicable
Margin (in basis
points)	 
					
	 0-89
	  	 	125	  	  	 	150	  	  	 	175	  	  	 	225	  
					
	 90-179
	  	 	175	  	  	 	200	  	  	 	225	  	  	 	275	  
					
	 180-269
	  	 	225	  	  	 	250	  	  	 	275	  	  	 	325	  
					
	 270-364
	  	 	275	  	  	 	300	  	  	 	325	  	  	 	375	  

 “Approved Fund” means any Fund that is administered or managed by (a) a Lender,
(b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 

“Approved Lender” means any Existing Lender or any Affiliate or Approved Fund of an Existing Lender. 

“Arrangers” means Citigroup Global Markets Inc. and Barclays Capital. 

“Assignment and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with
the consent of any party whose consent is required by Section 8.07), and accepted by the Agent, in substantially the form of Exhibit C or any other form approved by the Agent. 

“Authorized Officer” means the Chief Executive Officer, Chief Financial Officer, the General Counsel, the Secretary, the
Controller, the Treasurer and such other persons designated by the Borrower in writing to the Agent by the Treasurer of the Borrower and acceptable to the Agent. 
 “Bankruptcy Code” means Title 11 of the United States Code entitled “Bankruptcy,” as amended from time to time, and any successor statute or statutes. 

“Barclays Capital” has the meaning specified in the recital of parties hereto. 

  
 3 

 “Base Rate” means a fluctuating interest rate per annum in effect from time
to time, which rate per annum shall at all times be equal to the highest of: 
 (a) the rate of interest
announced publicly by Citibank in New York, New York, from time to time, as Citibank’s base rate; 
 (b)
 1/2 of one percent per annum above the Federal
Funds Rate; and 
 (c) the British Bankers Association Interest Settlement Rate applicable to Dollars for
a period of one month (“One Month LIBOR”) plus 1.00% (for the avoidance of doubt, the One Month LIBOR for any day shall be based on the rate appearing on Reuters LIBOR01 Page (or other commercially available source providing such
quotations as designated by the Agent from time to time) at approximately 11:00 a.m. London time on such day or, if no such rate is published on such day, the next preceding day on which a rate is published). 

“Base Rate Advance” means an Advance denominated in Dollars that bears interest as provided in Section 2.06(a)(i).

 “Borrower” has the meaning specified in the recital of parties hereto. 

“Borrowing” means a borrowing consisting of simultaneous Advances of the same Type made by each of the Lenders pursuant
to Section 2.01. 
 “Bridge Agreement” means this Senior Bridge Term Loan Credit Agreement dated as of
February 29, 2012. 
 “Business Day” means a day of the year on which banks are not required or authorized
by law to close in New York City and, if the applicable Business Day relates to any Eurodollar Rate Advances, on which dealings are carried on in the London interbank market and banks are open for business in London. 

“Capitalized Lease” means any lease of property, real, personal or mixed, the obligations under which are capitalized on
the consolidated balance sheet of the Borrower and its Subsidiaries in accordance with GAAP. 
 “Capitalized Lease
Obligations” means all obligations of the Borrower and its Subsidiaries under or in respect of Capitalized Leases. 

“Change in Control” means a change in control of the Borrower of a nature that would be required to be reported
(assuming such event has not been previously reported) in response to Item 1(a) of the Current Report on Form 8-K, pursuant to Section 13 or 15(d) of the Exchange Act; provided that, without limitation, a Change in Control shall be
deemed to have occurred at such time as (i) any “person” within the meaning of Section 14(d) of the Exchange Act, other than the Borrower, a Subsidiary of the Borrower, or any employee benefit plan(s) sponsored by the Borrower or
any Subsidiary of the Borrower, is or has become the “beneficial owner,” as defined in Rule 13d-3 under the Exchange Act, directly or indirectly, of 30% or more of the combined voting power of the outstanding securities of the Borrower
ordinarily having the right 

  
 4 

 
to vote at the election of directors, or (ii) individuals who constituted the Board of Directors of the Borrower on the Effective Date (the “Incumbent Board”) have ceased
for any reason to constitute at least a majority thereof; provided further that any person becoming a director subsequent to the Effective Date whose election, or nomination for election by the Borrower’s shareholders, was
approved by a vote of at least a majority of the directors comprising the Incumbent Board (either by a specific vote or by approval of the proxy statement of the Borrower in which such person is named as a nominee for director without objection to
such nomination) shall be, for purposes of this definition, considered as though such person were a member of the Incumbent Board. 
 “Closing Date” shall mean the date on which the Merger is consummated and the conditions precedent set forth in Section 3.02 have been satisfied or waived. 

“Closing Date Schedule” means a schedule delivered by the Borrower to the Agent on the Closing Date pursuant to
Section 3.02(k). 
 “Commitment” means as to any Lender (a) the Dollar amount set forth opposite such
Lender’s name on Schedule I hereto as such Lender’s “Commitment” or (b) if such Lender has entered into any Assignment and Assumption, the Dollar amount set forth for such Lender in the Register maintained by the Agent
pursuant to Section 8.07(c), as such amount may be reduced pursuant to Section 2.06. 
 “Commitment
Date” means January 26, 2012. 
 “Communications” has the meaning specified in
Section 8.02(d)(ii). 
 “Confidential Information” has the meaning specified in Section 8.08.

 “Consolidated” refers to the consolidation of accounts in accordance with GAAP. 

“Consolidated EBT” means, for any period, the total revenues of the Borrower and its Subsidiaries for such period, after
deducting therefrom the cost of goods sold and all operating expenses for such period, including research and development and sales, general and administrative costs and interest expense for such period, all determined in accordance with GAAP on a
consolidated basis, excluding any non-cash mark-to-market adjustment (positive or negative) for pension or other post-retirement gains or expenses for such period. 
 “Consolidated EBITDA” means, for any period, the Consolidated EBT of the Borrower and its Subsidiaries for such period, plus (a) the following to the extent deducted in calculating
such Consolidated EBT, but without duplication: (i) amounts deducted in arriving at such Consolidated EBT in respect of non-cash nonrecurring charges, (ii) depreciation and amortization allowances, (iii) Consolidated Interest Expense
for such period, (iv) other expenses or losses, including purchase accounting entries such as inventory adjustment to fair value, reducing such Consolidated EBT which do not represent a cash item in such period or any future period, and
(v) fees and expenses incurred in connection with any proposed or actual acquisitions, investments, asset sales or divestitures in each case that are expensed, and minus (b) (i) amounts added in arriving at such Consolidated
EBT in respect of cash nonrecurring charges paid during such period and (ii) other gains or additions, including purchase accounting entries 

  
 5 

 
such as inventory adjustment to fair value, increasing such Consolidated EBT which do not represent a cash item in such period or any future period. For the purpose of calculating Consolidated
EBITDA for any period, if during such period the Borrower or any Subsidiary shall have made an Acquisition, Consolidated EBITDA for such period shall be calculated after giving pro forma effect thereto as if such Acquisition occurred on the first
day of such period. 
 “Consolidated Interest Expense” means, for any period, all interest charges (including
amortization of debt discount and expense and the imputed interest component of Capitalized Lease Obligations properly chargeable to income during such period) for the Borrower and its Subsidiaries, on a consolidated basis, all determined in
accordance with GAAP. 
 “Consolidated Net Tangible Assets” means, at any particular time, Consolidated
Tangible Assets at such time after deducting therefrom all current liabilities, except for (i) notes and loans payable, and (ii) current maturities of the principal component of Capitalized Lease Obligations, all as set forth on the most
recent consolidated balance sheet of the Borrower and its Consolidated Subsidiaries and computed in accordance with GAAP. 

“Consolidated Tangible Assets” means, at any particular time, the aggregate amount of all assets (less applicable
reserves and other properly deductible items) after deducting therefrom all goodwill, trade names, trademarks, patents, unamortized debt discount and expenses (to the extent included in said aggregate amount of assets) and other like intangibles, as
set forth on the most recent consolidated balance sheet of the Borrower and its Consolidated Subsidiaries and computed in accordance with GAAP. 
 “Convert”, “Conversion” and “Converted” each refers to a conversion of Advances of one Type into Advances of the other Type pursuant to Section 2.07
or Section 2.08. 
 “Debt” of any Person means (a) the sum of, without duplication, (i) all
indebtedness of such Person for borrowed money, (ii) all obligations of such Person for the deferred purchase price of property or services (other than trade payables incurred in the ordinary course of business of such Person), (iii) all
obligations of such Person evidenced by notes, bonds, debentures or other similar instruments, (iv) all obligations of such Person created or arising under any conditional sale or other title retention agreement with respect to property
acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property), (v) all Debt of others referred to in clauses (i)
through (iv) above secured by (or for which the holder of such Debt has an existing right, contingent or otherwise, to be secured by) any Lien on property (including, without limitation, accounts and contract rights) owned by such Person, even
though such Person has not assumed or become liable for the payment of such Debt minus (b) the sum of, (i) cash and cash equivalents that are escrowed for the purpose of repayment of Debt, all of the foregoing determined in accordance with
GAAP, and (ii) indebtedness, if any, arising in connection with receivables securitization programs in an aggregate principal amount not to exceed $300,000,000 at the time outstanding (for purposes of this clause, the “principal
amount” of a receivables securitization program shall mean the Invested Amounts). 
 “Default” means any
Event of Default or any event that would constitute an Event of Default but for the requirement that notice be given or time elapse or both. 

  
 6 

 “Defaulting Lender” means at any time (i) any Lender that has failed
for one or more Business Days to comply with its obligations under this Bridge Agreement to make an Advance or make any other payment due hereunder (each, a “funding obligation”), unless such Lender has notified the Agent and the
Borrower in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding has not been satisfied (which conditions precedent, together with the applicable default, if any, will be
specifically identified in such writing), (ii) any Lender that has notified the Agent or the Borrower in writing, or has stated publicly, that it does not intend to comply with its funding obligations hereunder, unless such writing or statement
states that such position is based on such Lender’s determination that one or more conditions precedent to funding cannot be satisfied (which conditions precedent, together with the applicable default, if any, will be specifically identified in
such writing or public statement), (iii) any Lender that has defaulted on its funding obligations under other loan agreements or credit agreements generally under which it has commitments to extend credit or that has notified, or whose Parent
Company has notified, the Agent or the Borrower in writing, or has stated publicly, that it does not intend to comply with its funding obligations under loan agreements or credit agreements generally, (iv) any Lender that has, for three or more
Business Days after written request of the Agent or the Borrower, failed to confirm in writing to the Agent and the Borrower that it will comply with its prospective funding obligations hereunder (provided that such Lender will cease to be a
Defaulting Lender pursuant to this clause (iv) upon the Agent’s and the Borrower’s receipt of such written confirmation), or (v) any Lender with respect to which a Lender Insolvency Event has occurred and is continuing with
respect to such Lender or its Parent Company; provided that a Lender Insolvency Event shall not be deemed to occur with respect to a Lender or its Parent Company solely as a result of the acquisition or maintenance of an ownership
interest in such Lender or Parent Company by a governmental authority or instrumentality thereof where such action does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the
enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination
by the Agent that a Lender is a Defaulting Lender under any of clauses (i) through (v) above will be conclusive and binding absent manifest error, and such Lender will be deemed to be a Defaulting Lender upon notification of such
determination by the Agent to the Borrower and the Lenders. 
 “Dollars” and the “$” sign each
means lawful currency of the United States of America. 
 “Domestic Lending Office” means, with respect to any
Lender, the office of such Lender specified as its “Domestic Lending Office” in its Administrative Questionnaire delivered to the Agent, or such other office of such Lender as such Lender may from time to time specify to the Borrower and
the Agent. 
 “Domestic Subsidiary” means any Subsidiary of the Borrower incorporated under the laws of the
United States of America or any state thereof. 
 “Duration Fee” has the meaning specified in
Section 2.03(b). 
 “Effective Date” has the meaning specified in Section 3.01. 

  
 7 

 “Eligible Assignee” means any Person that meets the requirements to be an
assignee under Section 8.07(b)(iii), (v) and (vi) (subject to such consents, if any, as may be required under Section 8.07(b)(iii)). 
 “Environmental Affiliate” means, with respect to any Person, any other Person whose liability for any Environmental Claim such Person has retained, assumed or otherwise become liable for
(contingently or otherwise), either contractually or by operation of law. 
 “Environmental Approvals” means
any permit, license, approval, ruling, variance, exemption or other authorization required under applicable Environmental Laws. 

“Environmental Claim” means, with respect to any Person, any notice, claim, demand or similar written communication by
any other Person alleging potential liability for investigatory costs, cleanup costs, governmental response costs, natural resources damages, property damages, personal injuries, fines or penalties arising out of, based on or resulting from
(a) the presence, or release into the environment, of any Material of Environmental Concern at any location, whether or not owned by such Person or (b) circumstances forming the basis of any violation, or alleged violation of any
Environmental Law. 
 “Environmental Laws” means all federal, state and foreign laws and regulations relating
to pollution or protection of human health or the environment (including, without limitation, ambient air, surface water, ground water, land surface or subsurface strata), including without limitation, laws and regulations relating to emissions,
discharges, releases or threatened releases of Materials of Environmental Concern, or otherwise relating to the manufacture, processing, distribution, use treatment, storage, disposal, transport or handling of Materials of Environmental Concern.

 “Equity Issuance” means any issuance by the Borrower of any equity interest other than pursuant to any
director or employee stock ownership plan or any other employee compensation plan and equity issued in connection with the Merger pursuant to the terms of the Merger Agreement. 

“ERISA” means the Employment Retirement Income Security Act of 1974, as amended from time to time. Section references to
ERISA are to ERISA, as in effect at the date of this Bridge Agreement and any subsequent provisions of ERISA, amendatory thereof, supplemental thereto or substituted therefor. 
 “ERISA Controlled Group” means a group consisting of any ERISA Person and all members of a controlled group of corporations and all trades or businesses (whether or not incorporated)
under common control with such Person that, together with such Person, are treated as a single employer under regulations of the PBGC. 
 “ERISA Person” has the meaning set forth in Section 3(9) of ERISA for the term “person.” 
 “ERISA Plan” means (a) any Plan that (i) is not a Multiemployer Plan and (ii) has Unfunded Benefit Liabilities in excess of $1,000,000 and (b) any Plan that is a
Multiemployer Plan. 

  
 8 

 “Eurocurrency Liabilities” has the meaning assigned to that term in
Regulation D of the Board of Governors of the Federal Reserve System, as in effect from time to time. 

“Eurodollar Lending Office” means the office of each Lender which shall be maintaining its Eurodollar Rate Advances.

 “Eurodollar Rate” means, for any Interest Period for each Eurodollar Rate Advance comprising part of the
same Borrowing, an interest rate per annum equal to the rate per annum obtained by dividing (a) the rate per annum (rounded upward to the nearest whole multiple of 1/16 of 1% per annum) by reference to the British Bankers’ Association
Interest Settlement Rates as the London interbank offered rate for deposits in Dollars at approximately 11:00 A.M. (London time) two Business Days prior to the first day of such Interest Period for a term comparable to such Interest Period or, if
for any reason such rate is not available, the average (rounded upward to the nearest whole multiple of 1/16 of 1% per annum, if such average is not such a multiple) of the rate per annum at which deposits in Dollars are offered by the
principal office of each of the Reference Banks in London, England to prime banks in the London interbank market at 11:00 A.M. (London time) two Business Days before the first day of such Interest Period in an amount substantially equal to such
Reference Bank’s Eurodollar Rate Advance comprising part of such Borrowing to be outstanding during such Interest Period and for a period equal to such Interest Period by (b) a percentage equal to 100% minus the Eurodollar Rate Reserve
Percentage for such Interest Period. If the British Bankers’ Association Settlement Rates are unavailable, the Eurodollar Rate for any Interest Period for each Eurodollar Rate Advance comprising part of the same Borrowing shall be determined by
the Agent on the basis of applicable rates furnished to and received by the Agent from the Reference Banks two Business Days before the first day of such Interest Period, subject, however, to the provisions of Section 2.07. 

“Eurodollar Rate Advance” means an Advance denominated in Dollars that bears interest as provided in
Section 2.06(a)(ii). 
 “Eurodollar Rate Reserve Percentage” for any Interest Period for all Eurodollar
Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve
System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with
respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurodollar Rate Advances is determined)
having a term equal to such Interest Period. 
 “Events of Default” has the meaning specified in
Section 6.01. 
 “Existing Credit Agreement” means the Five-Year Credit Agreement dated as of
December 7, 2011 among the Borrower, Citibank N.A. as Administrative Agent, and the other lenders and agents party thereto, as amended, restated, supplemented or otherwise modified from time to time. 

  
 9 

 “Existing Lender” means any lender party to the Existing Credit Agreement
on the Commitment Date or that subsequently becomes a lender party to the Existing Credit Agreement. 
 “FATCA”
means Sections 1471 through 1474 of the Internal Revenue Code as of the date of this Bridge Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with) and any current or future
regulations or official interpretations thereof. 
 “FCPA” has the meaning assigned to such term in
Section 4.01(t). 
 “Federal Funds Rate” means, for any period, a fluctuating interest rate per annum
equal for each day during such period to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published for such day (or, if such day is not a
Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average of the quotations for such day on such transactions received by the
Agent from three Federal funds brokers of recognized standing selected by it. 
 “Federal Reserve Board” means
the Board of Governors of the Federal Reserve System as constituted from time to time. 
 “Fee Letter” means
the Fee Letter dated as of January 26, 2012 among the Borrower and the Arrangers. 
 “Financial
Statements” means the financial statements delivered pursuant to Section 3.02(b). 
 “Fund” means
any Person (other than a natural Person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of business. 

“GAAP” means generally accepted accounting principles specifically as applied in the preparation of the financial
statements referred to in Section 4.01(e). 
 “Indebtedness” of any Person means, without duplication,
(a) all indebtedness (including principal, interest, fees and charges) of such Person for borrowed money or for the deferred purchase price (or a portion thereof) of property or services (other than trade payables incurred in the ordinary
course of business of such Person), (b) all indebtedness of such Person evidenced by a note, bond, debenture or similar instrument, (c) the principal component of all Capitalized Lease Obligations of such Person and all obligations of such
Person under any other lease to the extent that the then present value of the minimum rental commitment thereunder should, in accordance with GAAP, be capitalized on a balance sheet of the lessee, (d) the face amount of all letters of credit
issued for the account of such Person and, without duplication, all unreimbursed amounts drawn thereunder, (e) all indebtedness of any other Person secured by any Lien on any property owned by such Person, whether or not such indebtedness has
been assumed, (f) payment obligations under any interest rate protection agreements (including without limitation, any interest rate swaps, caps, floors, collars and similar agreements) and currency swaps and similar agreements,
(g) payment obligations under any facility for the sale or financing of 

  
 10 

 
receivables and (h) any indebtedness of any other Person of the character referred to in clauses (a) through (g) with respect to which such Person has become liable by way of any
guarantee, similar contingent obligation or other arrangement which has the effect of assuring payment. 
 “Information
Memorandum” means the information memorandum dated February 2012 used by the Agent in connection with the syndication of the Commitments. 
 “Interest Period” means, for each Eurodollar Rate Advance comprising part of the same Borrowing, the period commencing on the date of such Eurodollar Rate Advance or the date of the
Conversion of any Base Rate Advance into such Eurodollar Rate Advance and ending on the last day of the period selected by the Borrower requesting such Borrowing pursuant to the provisions below and, thereafter, with respect to Eurodollar Rate
Advances, each subsequent period commencing on the last day of the immediately preceding Interest Period and ending on the last day of the period selected by the Borrower pursuant to the provisions below. The duration of each such Interest Period
shall be one, two, three or six months, as the Borrower may, upon notice received by the Agent not later than 11:00 A.M. (New York City time) on the third Business Day prior to the first day of such Interest Period, select;
provided, however, that: 
 (i) the Borrower may not select any Interest Period that ends after the
Maturity Date; 
 (ii) Interest Periods commencing on the same date for Eurodollar Rate Advances comprising part
of the same Borrowing shall be of the same duration; 
 (iii) whenever the last day of any Interest Period would
otherwise occur on a day other than a Business Day, the last day of such Interest Period shall be extended to occur on the next succeeding Business Day, provided, however, that, if such extension would cause the last day of such Interest Period to
occur in the next following calendar month, the last day of such Interest Period shall occur on the next preceding Business Day; and 
 (iv) whenever the first day of any Interest Period occurs on a day of an initial calendar month for which there is no numerically corresponding day in the calendar month that succeeds such initial
calendar month by the number of months equal to the number of months in such Interest Period, such Interest Period shall end on the last Business Day of such succeeding calendar month. 

“Internal Revenue Code” means the Internal Revenue Code of 1986, as amended from time to time, and the regulations
promulgated and rulings issued thereunder. 
 “Invested Amounts” means the amounts invested by investors that
are not Affiliates of the Borrower in connection with any receivables securitization program and paid to the Borrower or its Subsidiaries, as reduced by the aggregate amounts received by such investors from the payment of receivables and applied to
reduce such invested amounts. 
 “Lender Insolvency Event” means that (a) a Lender or its Parent Company
is insolvent, or is generally unable to pay its debts as they become due, or admits in writing its inability to pay its debts as they become due, or makes a general assignment for the benefit of its creditors, or
(b)

  
 11 

 
such Lender or its Parent Company is the subject of a bankruptcy, insolvency, reorganization, liquidation or similar proceeding, or a receiver, trustee, conservator, intervenor or sequestrator or
the like has been appointed for such Lender or its Parent Company, or such Lender or its Parent Company has taken any action in furtherance of or indicating its consent to or acquiescence in any such proceeding or appointment. 

“Lenders” means the Initial Lenders and each Person that shall become a party hereto pursuant to Section 8.07.

 “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien
(statutory or other), or preferential payment arrangement, priority or other security agreement of any kind or nature whatsoever, including, without limitation, any conditional sale or other title retention agreement, any financing lease having
substantially the same effect as any of the foregoing and the filing of any financing statement of similar instrument under the Uniform Commercial Code or comparable law of any jurisdiction, domestic or foreign. 

“Loan Documents” means this Bridge Agreement and the Notes. 

“Margin Stock” has the meaning provided to such term in Regulation U. 

“Material Adverse Effect” means a material adverse effect upon (a) the business, condition (financial or otherwise)
or operations of the Borrower and its Subsidiaries taken as a whole or (b) the ability of the Borrower to perform, or of the Agent or any of the Lenders to enforce, any of the Obligations. 

“Material Subsidiary” means each Subsidiary of the Borrower which meets any of the following conditions: (a) the
Borrower’s and its other Subsidiaries’ investments in and advances to such Subsidiary exceed 10% of the total assets of the Borrower and its Subsidiaries consolidated as of the end of the most recently completed fiscal year, (b) the
Borrower’s and its other Subsidiaries’ proportionate share of the total assets (after intercompany eliminations) of such Subsidiary exceeds 10% of the total assets of the Borrower and its Subsidiaries consolidated as of the end of the most
recently completed fiscal year, or (c) the Borrower’s and its other Subsidiaries’ equity in the income from the continuing operations before income taxes, extraordinary items and cumulative effect of a change in accounting principles
(excluding non-recurring items and special charges) of such Subsidiary exceeds 10% of such income of the Borrower and its Subsidiaries consolidated for the most recently completed fiscal year. 

“Materials of Environmental Concern” means and include chemicals, pollutants, contaminants, wastes, toxic substances,
petroleum and petroleum products regulated by applicable Environmental Laws. 
 “Maturity Date” means the date
that is 364 days after the Closing Date (or if such day is not a Business Day, the next preceding Business Day). 

“Merger” means the merger of Merger Sub with and into the Acquired Business pursuant to the Merger Agreement.

  
 12 

 “Merger Agreement” means the Agreement and Plan of Merger dated
January 26, 2012 among the Borrower, Merger Sub and the Solutia Inc. 
 “Merger Agreement Representations”
means such of the representations and warranties made by or on behalf of the Acquired Business in the Merger Agreement but only to the extent that the Borrower (or its Affiliates) has the right to terminate (or not perform) its obligations under the
Merger Agreement as a result of a breach of such representations in the Merger Agreement. 
 “Merger Cash
Consideration” means an aggregate amount in cash to be paid to the equity holders of the Acquired Business pursuant to the Merger Agreement. 
 “Merger Consideration” means the Merger Cash Consideration and the Merger Equity Consideration. 
 “Merger Equity Consideration” means the shares of common stock of the Borrower to be delivered to the equity holders of the Acquired Business pursuant to the Merger Agreement. 

“Merger Sub” means Eagle Merger Sub Corporation, a Delaware corporation and a wholly owned subsidiary of the Borrower.

 “Multiemployer Plan” means a Plan which is a “multiemployer plan” as defined in
Section 4001(a)(3) of ERISA. 
 “Moody’s” means Moody’s Investors Service, Inc. 

“Net Cash Proceeds” means (a) in connection with any Specified Asset Sale, the proceeds thereof actually received
by the Borrower or any of its Subsidiaries in the form of cash and cash equivalents (including any such proceeds received by way of deferred payment of principal pursuant to a note or installment receivable or purchase price adjustment receivable or
otherwise, but only as and when received), net of attorneys’ fees, accountants’ fees, investment banking fees, amounts required to be applied to the repayment of Indebtedness secured by a Lien expressly permitted hereunder on any asset
that is the subject of such Specified Asset Sale, any reserves required to be maintained in connection therewith and other customary fees and expenses actually incurred in connection therewith and net of taxes (including taxes arising out of the
distribution of such cash proceeds by any Subsidiary to the Borrower) paid or reasonably estimated to be payable as a result thereof (after taking into account any available tax credits as deductions and any tax sharing arrangements);
provided that, if no Event of Default shall have occurred and shall be continuing at the time of the proposed application of such proceeds, such proceeds shall not constitute Net Cash Proceeds except to the extent such proceeds are not used
to reinvest in productive assets used or usable in the business of the Borrower or its Subsidiaries within 180 days of receipt of such proceeds (or, if later, 180 days after the date the Borrower or a Subsidiary has entered into a binding commitment
to reinvest such proceeds (if such commitment was entered into prior to the expiration of such initial 180-day period)), at which time such proceeds shall be deemed to be Net Cash Proceeds and provided further that no proceeds of any Specified Asset
Sale shall constitute Net Cash Proceeds except to the extent in excess of $5,000,000 for such Specified Asset Sale and $25,000,000 in the aggregate for all such Specified Asset Sales and (b) in connection with any Equity Issuance or any
Specified Debt 

  
 13 

 
Incurrence, the cash proceeds received by the Borrower or any Restricted Subsidiary from such issuance or incurrence, net of attorneys’ fees, investment banking fees, accountants’ fees,
underwriting discounts and commissions and other customary fees and expenses actually incurred in connection therewith and net of taxes (including taxes arising out of the distribution of such cash proceeds by any Restricted Subsidiary to the
Borrower) paid or reasonably estimated to be payable as a result thereof (after taking into account any available tax credits as deductions and any tax sharing arrangements). 
 “Note” means a promissory note of the Borrower payable to the order of any Lender, delivered pursuant to a request made under Section 2.15 in substantially the form of Exhibit A
hereto, evidencing the aggregate indebtedness of the Borrower to such Lender resulting from the Advances made by such Lender to the Borrower. 
 “Notice of Borrowing” has the meaning specified in Section 2.02(a). 
 “Obligations” means all amounts owing to the Agent or any Lender (whether a contingent obligation or otherwise) pursuant to the terms of this Bridge Agreement or any Note. 

“Parent Company” means, with respect to a Lender, the bank holding company (as defined in Federal Reserve Board
Regulation Y), if any, of such Lender, or if such Lender does not have a bank holding company, then any corporation, association, partnership or other business entity owning, beneficially or of record, directly or indirectly, a majority of the
shares of such Lender. 
 “Participant” has the meaning assigned to such term in clause (d) of
Section 8.07. 
 “Participant Register” has the meaning assigned to such term in clause (d) of
Section 8.07. 
 “PATRIOT Act” has the meaning assigned to such term in Section 8.13. 

“Payment Office” means such office of Citibank as shall be from time to time selected by the Agent and notified by the
Agent to the Borrower and the Lenders. 
 “PBGC” means the Pension Benefit Guaranty Corporation established
under ERISA, or any successor thereto. 
 “Person” means an individual, partnership, corporation (including a
business trust), joint stock company, trust, unincorporated association, joint venture, limited liability company or other entity, or a government or any political subdivision or agency thereof. 

“Plan” means any employee benefit plan, covered by Title IV of ERISA, the funding requirements of which: (a) were
the responsibility of the Borrower or a member of its ERISA Controlled Group at any time within the five years immediately preceding the date hereof, (b) are currently the responsibility of the Borrower or a member of its ERISA Controlled
Group, or (c) hereafter become the responsibility of the Borrower or a member of its ERISA Controlled Group, including any such plans as may have been, or may hereafter be, terminated for whatever reason. 

  
 14 

 “Prepayment Event” means any Specified Asset Sale, any Specified Debt
Incurrence and any Equity Issuance. 
 “Principal Property” means any manufacturing plant or manufacturing
facility (in each case taken as a whole) which is (a) owned by the Borrower or any Principal Subsidiary, (b) located within the continental United States, and (c) in the opinion of the Board of Directors of the Borrower, material to
the total business conducted by the Borrower and the Principal Subsidiaries taken as a whole. 
 “Principal
Subsidiary” means any Subsidiary of the Borrower (a) substantially all the property of which is located within the continental United States and (b) which owns any Principal Property; provided that the term “Principal
Subsidiary” shall not include any such Subsidiary which is principally engaged in leasing or in financing receivables, or which is principally engaged in financing the Borrower’s operations outside the continental United States of America.

 “Public Debt Rating” means, as of any date, the lowest rating that has been most recently announced by
either S&P or Moody’s, as the case may be, for any class of non-credit enhanced long-term senior unsecured debt issued by the Borrower. For purposes of the foregoing, (a) if only one of S&P and Moody’s shall have in effect a
Public Debt Rating, the Applicable Margin shall be determined by reference to the available rating; (b) if neither S&P nor Moody’s shall have in effect a Public Debt Rating, the Applicable Margin will be set in accordance with
Level IV under the definition of “Applicable Margin”; (c) if the ratings established by S&P and Moody’s shall fall within different levels, the Applicable Margin shall be based upon the higher rating; (d) if any
rating established by S&P or Moody’s shall be changed, such change shall be effective as of the date on which such change is first announced publicly by the rating agency making such change; and (e) if S&P or Moody’s shall
change the basis on which ratings are established, each reference to the Public Debt Rating announced by S&P or Moody’s, as the case may be, shall refer to the then equivalent rating by S&P or Moody’s, as the case may be.

 “Railcar Lease” means the Lease Agreement with Borrower, as lessee, dated March 30, 2005. 

“Ratable Share” of any amount means, with respect to any Lender at any time such Lender’s pro rata share of such
amount determined based on such Lender’s Commitments at such time or, if the Commitments have been terminated, such Lender’s Advances at such time. 
 “Receivables Purchase Agreement” means the Amended and Restated Receivables Purchase Agreement dated as of July 9, 2008, and as amended from time to time, among Eastman Chemical
Financial Corporation, as seller and initial servicer, and the various purchasers, agents and financial institutions party thereto. 
 “Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents, trustees, administrators, managers, advisors
and representatives of such Person and of such Person’s Affiliates. 
 “Reference Banks” means Citibank
and Barclays Bank PLC. 

  
 15 

 “Register” has the meaning specified in Section 8.07(c). 

“Removal Effective Date” has the meaning specified in Section 7.07(b). 

“Reportable Event” has the meaning set forth in Section 4043(b) of ERISA (other than a Reportable Events as to
which the provision of 30 days’ notice to the PBGC is waived under applicable regulations), or is the occurrence of any of the events described in Section 4062(e) or 4063(a) of ERISA. 

“Required Lenders” means at any time Lenders owed at least a majority in interest of the then aggregate unpaid principal
amount of the Advances owing to Lenders, or, if no such principal amount is then outstanding, Lenders having at least a majority in interest of the aggregate amount of the Commitments of all Lenders, provided that if any Lender shall be a
Defaulting Lender at such time, there shall be excluded from the determination of Required Lenders at such time the Commitments of such Lender at such time. 
 “Resignation Effective Date” has the meaning specified in Section 7.07(a). 
 “Responsible Officer” means the Chief Financial Officer, the Controller, the Treasurer or any Assistant Treasurer of the Borrower. 

“Restricted Subsidiary” means, for purposes of Section 5.02(d) hereof, a wholly-owned Subsidiary of the Borrower
substantially all of the assets of which are located in the United States (excluding territories or possessions) and which owns a Principal Property; provided however, that the term Restricted Subsidiary shall not include any
Subsidiary that is principally engaged in (a) the business of financing; (b) the business of owning, buying, selling, leasing, dealing in or developing real property; or (c) the business of exporting goods or merchandise from or
importing goods or merchandise into the United States. 
 “S&P” means Standard & Poor’s, a
division of The McGraw-Hill Companies, Inc. 
 “Solvent” and “Solvency” means, with respect to
the Borrower and its Subsidiaries, on a consolidated basis, on any date of determination, that on such date (a) the sum of the liabilities (including contingent liabilities) of the Borrower and its Subsidiaries, on a consolidated basis, does
not exceed the fair value of the present assets of the Borrower and its subsidiaries, on a consolidated basis, (b) the present fair saleable value of the assets of the Borrower and its Subsidiaries, on a consolidated basis, is greater than the
total amount that will be required to pay the probable liabilities (including contingent liabilities) of the Borrower and its Subsidiaries as they become absolute and matured, (c) the capital of the Borrower and its Subsidiaries, on a
consolidated basis, is not unreasonably small in relation to their business as contemplated on the date hereof and (d) the Borrower and its Subsidiaries, on a consolidated basis, have not incurred and do not intend to incur, or believe that
they will incur, debts or other liabilities, including current obligations, beyond their ability to pay such debts or other liabilities as they become due (whether at maturity or otherwise). For purposes hereof, the amount of any contingent
liability shall be computed as the amount that, in light of all of the facts and circumstances existing as of the date hereof, represents the amount that can reasonably be expected to become an actual or matured liability. 

  
 16 

 “SPC” has the meaning specified in Section 8.07(f) hereto. 

“Specified Asset Sale” means, any Specified Disposition by the Borrower or any Subsidiary other than (a) Specified
Dispositions as defined in clause (a) of the definition thereof in the ordinary course of business and (b) Specified Dispositions to the Borrower or any Subsidiary. 
 “Specified Debt Incurrence” means any incurrence of Debt by the Borrower or any Restricted Subsidiary other than (i) any Debt owed to the Borrower or any of its Subsidiaries,
(ii) Debt incurred under the Existing Credit Agreement in the ordinary course of business for working capital purposes or to refinance commercial paper, (iii) the issuance of any commercial paper, (iv) amounts incurred or outstanding
under the Receivables Purchase Agreement, (v) Debt incurred to refinance the Receivables Purchase Agreement in an aggregate amount not to exceed $300,000,000, (vi) Debt incurred to refinance the Railcar Lease in an aggregate amount not to
exceed $100,000,000 and (vii) Debt incurred to refinance the Aircraft Lease in an aggregate amount not to exceed $35,000,000. 
 “Specified Disposition” means, with respect to any Person, (a) the sale, transfer or other disposition (including any sale and leaseback transaction by such Person, but excluding any
licenses or leases of property or assets in the ordinary course of business of such Person) of any property (including any equity interests owned by such Person, or any notes or accounts receivable or any rights and claims associated therewith) of
such Person (or the granting of any option or other right to do any of the foregoing) and (b) any issuance of equity interests by the Subsidiary of such Person to any other Person other than the Borrower or any Subsidiary of the Borrower.

 “Specified Effective Date Representations” means the Specified Representations other than the
representations and warranties set forth in Section 4.01(g), Section 4.01(r), the second sentence of Section 4.01(s) and Section 4.01(t). 
 “Specified Representations” means the representations and warranties set forth in Section 4.01(a)(i), Section 4.01(a)(ii), Section 4.01(b), Section 4.01(c)(i),
Section 4.01(c)(ii) (solely with respect to any of the Borrower’s material debt instruments), Section 4.01(c)(iii), Section 4.01(e), Section 4.01(g) (other than the first sentence thereof), Section 4.01(k),
Section 4.01(q) (solely with respect to the PATRIOT Act and the FCPA), Section 4.01(r), Section 4.01(s) and Section 4.01(t). 
 “Subsidiary” means, with respect to any Person, any corporation or other entity in which such Person has ownership or control sufficient under GAAP to require such corporation or entity
to be consolidated with such Person for financial reporting purposes. 
 “Term Loan Credit Agreement” means the
Term Loan Credit Agreement dated as of the date hereof among the Borrower, Citibank, N.A., as administrative agent, and the other lenders and agents party thereto. 
 “Termination Event” means (a) a Reportable Event, or (b) the initiation of any action by the Borrower, any member of the Borrower’s ERISA Controlled Group or any ERISA Plan
fiduciary to terminate an ERISA Plan or the treatment of an amendment to an ERISA Plan as a 

  
 17 

 
termination under ERISA, or (c) the institution of proceedings by the PBGC under Section 4042 of ERISA to terminate an ERISA Plan or to appoint a trustee to administer any ERISA plan,
except, in any such case, where the result thereof could not reasonably be expected to have a Material Adverse Effect. 

“Transactions” means (i) the Merger including the payment of the Merger Consideration, (ii) the execution,
delivery and performance of this Bridge Agreement, including the funding of the Advances hereunder and the application of the proceeds thereof, (iii) the issuance of debt or equity securities or incurrence of debt under the Term Loan Credit
Agreement, and, the funding of the Advances and the application of the proceeds thereof and (iv) payment of the Transaction Costs. 
 “Transactions Costs” means fees and expenses incurred in connection with the Transactions. 
 “Type” means, as to any Advance, its nature as a Base Rate Advance or a Eurodollar Rate Advance. 
 “Undrawn Commitment Fee” has the meaning specified in Section 2.03(a). 
 “Unfunded Benefit Liabilities” means with respect to any Plan at any time, the amount (if any) by which (a) the present value of all benefit liabilities under such Plan as defined in
Section 4001(a)(16), of ERISA, exceeds (b) the fair market value of all Plan assets allocable to such benefits, all determined as of the then most recent valuation date for such Plan (on the basis of the interest rate and other assumptions
used to determine the current liabilities of the Plan as required under Code Section 430. 
 “Voting
Stock” means capital stock issued by a corporation, or equivalent interests in any other Person, the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing
similar functions) of such Person, even if the right so to vote has been suspended by the happening of such a contingency. 

Section 1.02. Computation of Time Periods. In this Bridge Agreement in the computation of periods of time from a specified
date to a later specified date, the word “from” means “from and including” and the words “to” and “until” each mean “to but excluding”. 

Section 1.03. Accounting Terms. All accounting terms not specifically defined herein shall be construed in accordance with
GAAP. Notwithstanding any other provision contained herein, all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made (i) without giving effect to
any election under Accounting Standards Codification 825-10-25 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of the Borrower or any
Subsidiary at “fair value”, as defined therein and (ii) in a manner such that any obligations relating to a lease that was accounted for by a Person as an operating lease as of the Effective Date and any similar lease entered into
after the Effective Date by such Person shall be accounted for as obligations relating to an operating lease and not as Capitalized Lease Obligations. 

  
 18 

 ARTICLE 2 
 AMOUNTS AND TERMS OF THE ADVANCES 
 Section 2.01. Commitments. Each Lender severally agrees, on the terms and conditions set forth in this Bridge Agreement, to make an Advance to the Borrower on the Closing Date in a principal
amount equal to its ratable portion of the amount requested in the related Notice of Borrowing (but in any event, not to exceed the amount of its Commitment). Amounts borrowed under this Section 2.01 and repaid or prepaid may not be reborrowed.

 Section 2.02. Making the Advance. (a) Each Borrowing shall be made on notice, given not later than
(x) 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Borrowing in the case of a Borrowing consisting of Eurodollar Rate Advances or (y) 1:00 P.M. (New York City time) on the date of the
proposed Borrowing in the case of a Borrowing consisting of Base Rate Advances, by the Borrower to the Agent, which shall give to each Lender prompt notice thereof by telecopier. Each such notice of a Borrowing (a “Notice of
Borrowing”) shall be by telephone, confirmed immediately in writing, or telecopier in substantially the form of Exhibit B hereto, specifying therein the requested (i) date of such Borrowing, (ii) Type of Advances comprising
such Borrowing, (iii) aggregate amount of such Borrowing, and (iv) in the case of a Borrowing consisting of Eurodollar Rate Advances, initial Interest Period for each such Advance. Each Lender shall, before 3:00 P.M. (New York
City time) on the date of such Borrowing, make available for the account of its Applicable Lending Office to the Agent at the applicable Agent’s Account, in same day funds, such Lender’s ratable portion of such Borrowing. After the
Agent’s receipt of such funds and upon fulfillment of the applicable conditions set forth in Article 3, the Agent will make such funds available to the Borrower at the Agent’s address referred to in Section 8.02 or at the applicable
Payment Office, as the case may be. 
 (b) Anything in subsection (a) above to the contrary notwithstanding, the Borrower
may not select Eurodollar Rate Advances for any Borrowing if the obligation of the Lenders to make Eurodollar Rate Advances shall then be suspended pursuant to Section 2.07 or 2.11. 

(c) Each Notice of Borrowing shall be irrevocable and binding on the Borrower. In the case of any Borrowing that the related Notice of
Borrowing specifies is to be comprised of Eurodollar Rate Advances, the Borrower shall indemnify each Lender against any loss, cost or expense incurred by such Lender as a result of any failure to fulfill on or before the date specified in such
Notice of Borrowing for such Borrowing the applicable conditions set forth in Article 3, including, without limitation, any loss (including loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of
deposits or other funds acquired by such Lender to fund the Advance to be made by such Lender as part of such Borrowing when such Advance, as a result of such failure, is not made on such date. 

(d) Unless the Agent shall have received notice from a Lender prior to the time of any Borrowing that such Lender will not make available
to the Agent such Lender’s ratable portion of such Borrowing, the Agent may assume that such Lender has made such portion available to the Agent on the date of such Borrowing in accordance with subsection (a) of this Section 2.02 and
the Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Lender shall not have so made such 

  
 19 

 
ratable portion available to the Agent, such Lender and the Borrower severally agree to repay to the Agent forthwith on demand such corresponding amount together with interest thereon, for each
day from the date such amount is made available to the Borrower until the date such amount is repaid to the Agent, at (i) in the case of the Borrower, the higher of (A) the interest rate applicable at the time to the Advances comprising
such Borrowing and (B) the cost of funds incurred by the Agent in respect of such amount and (ii) in the case of such Lender, the Federal Funds Rate. If such Lender shall repay to the Agent such corresponding amount, such amount so repaid
shall constitute such Lender’s Advance as part of such Borrowing for purposes of this Bridge Agreement. 
 (e) The failure
of any Lender to make the Advance to be made by it as part of any Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Advance on the date of such Borrowing, but no Lender shall be responsible for the failure
of any other Lender to make the Advance to be made by such other Lender on the date of any Borrowing. 
 Section 2.03.
Fees. (a) The Borrower agrees to pay to the Agent ratably for the account of each Lender that is not a Defaulting Lender an undrawn commitment fee (the “Undrawn Commitment Fee”) in an amount equal to 0.175% of the aggregate
principal amount of the Commitments, which fee (i) shall accrue from the later of the Effective Date and March 26, 2012 and (ii) shall be due and payable upon the earlier of the termination of the Commitments hereunder pursuant to
Section 2.04 and the Closing Date. 
 (b) The Borrower agrees to pay to the Agent ratably for the account of each Lender a
duration fee (the “Duration Fee”) in an amount equal to (i) 0.50% of the aggregate principal amount of the Advances outstanding on the date which is 90 days after the Closing Date, due and payable on such 90th day (or if such
day is not a Business Day, the next Business Day); (ii) 1.00% of the aggregate principal amount of the Advances outstanding on the date which is 180 days after the Closing Date, due and payable on such 180th day (or if such day is not a
Business Day, the next Business Day); and (iii) 1.25% of the aggregate principal amount of the Advances outstanding on the date which is 270 days after the Closing Date, due and payable on such 270th day (or if such day is not a Business Day,
the next Business Day). 
 (c) The Borrower agrees to pay to the Agent ratably for the account of each Lender a funding fee (the
“Funding Fee”) in an amount equal to 0.625% of the aggregate principal amount of the Advances, which fee shall be due and payable on the Closing Date. 
 (d) The Borrower shall pay to the Agent for its own account such fees as may from time to time be agreed between the Borrower and the Agent. 

(e) The Borrower agrees to pay to the Agent and the other parties thereto the fees payable in the amounts and at the times set forth in
the Fee Letter, except that any “ticking fee” payable pursuant to the Fee Letter with respect to the Commitments shall, from the Effective Date, be replaced with the Undrawn Commitment Fee. 

Section 2.04. Termination or Reduction of the Commitments. (a) Prior to the Closing Date, the Borrower shall have the
right, upon at least three Business Days’ notice to the Agent, to 

  
 20 

 
terminate in whole or reduce ratably in part the Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of
$1,000,000 in excess thereof. 
 (b) All unused Commitments shall automatically terminate after the Advances are made on the
Closing Date. In addition, the Commitments shall automatically terminate in the event that the Closing Date does not occur on or before the earlier of (i) 5:00 p.m., New York City time, on October 31, 2012 or (ii) the date on which
the Merger Agreement terminates or the Borrower publicly announces its intention not to proceed with the Merger. 
 (c) Upon the
receipt prior to the Closing Date of Net Cash Proceeds of any Prepayment Event, the Commitments shall automatically be reduced in an aggregate amount equal to 100% of the Net Cash Proceeds of such Prepayment Event (but subject in all respect to the
reinvestment rights set forth in the definition of “Net Cash Proceeds”). The Borrower shall notify the Agent of the occurrence of any Prepayment Event at least two Business Days prior to the consummation of such Prepayment Event and such
notice shall be accompanied by a reasonably detailed calculation of the anticipated Net Cash Proceeds thereof. Promptly following receipt of such notice, the Agent shall advise the Lenders of the occurrence of the Prepayment Event and the
anticipated Net Cash Proceeds thereof. Any termination or reduction of the Commitments shall be permanent. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their respective Commitments. 

Section 2.05. Repayment of Advances. The Borrower shall repay to the Agent for the ratable account of the Lenders on the
Maturity Date the aggregate principal amount of the Advances made to it and then outstanding. 
 Section 2.06. Interest
on Advances. (a) Scheduled Interest. The Borrower shall pay interest on the unpaid principal amount of each Advance made to it and owing to each Lender from the date of such Advance until such principal amount shall be paid in full,
at the following rates per annum: 
 (i) Base Rate Advances. During such periods as such Advance is a Base
Rate Advance, a rate per annum equal at all times to the sum of (x) the Base Rate in effect from time to time plus (y) the Applicable Margin in effect from time to time, payable in arrears quarterly on the last day of each March,
June, September and December during such periods and on the date such Base Rate Advance shall be Converted or paid in full. 
 (ii) Eurodollar Rate Advances. During such periods as such Advance is a Eurodollar Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of
(x) the Eurodollar Rate for such Interest Period for such Advance plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of
more than three months, on each day that occurs during such Interest Period every three months from the first day of such Interest Period and on the date such Eurodollar Rate Advance shall be Converted or paid in full. 

  
 21 

 (b) Default Interest. Upon the occurrence and during the continuance of an Event of
Default, the Agent may, and upon the request of the Required Lenders shall, require the Borrower to pay interest (“Default Interest”) on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears
on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and
(ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the
date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above, provided, however, that
following the acceleration of the Advances pursuant to Section 6.01, Default Interest shall accrue and be payable whether or not previously required by the Agent. 
 Section 2.07. Interest Rate Determination. (a) Each Reference Bank agrees to furnish to the Agent timely information for the purpose of determining each Eurodollar Rate. If any one or
more of the Reference Banks shall not furnish such timely information to the Agent for the purpose of determining any such interest rate, the Agent shall determine such interest rate on the basis of timely information furnished by the remaining
Reference Banks. The Agent shall give prompt notice to the Borrower and the Lenders of the applicable interest rate determined by the Agent for purposes of Section 2.06(a)(i) or (ii), and the rate, if any, furnished by each Reference Bank for
the purpose of determining the interest rate under Section 2.06(a)(ii). 
 (b) If, with respect to any Eurodollar Rate
Advances, the Required Lenders notify the Agent that (i) they are unable to obtain matching deposits in the London inter-bank market at or about 11:00 A.M. (New York time) on the second Business Day before the making of a Borrowing in
sufficient amounts to fund their respective Advances as a part of such Borrowing during its Interest Period or (ii) the Eurodollar Rate for any Interest Period for such Advances will not adequately reflect the cost to such Required Lenders of
making, funding or maintaining their respective Eurodollar Rate Advances for such Interest Period, the Agent shall forthwith so notify the Borrower and the Lenders, whereupon (A) the Borrower will, on the last day of the then existing Interest
Period therefor, either (x) prepay such Advances or (y) Convert such Advances into Base Rate Advances and (B) the obligation of the Lenders to make, or to Convert Advances into, Eurodollar Rate Advances shall be suspended until the
Agent shall notify the Borrower and the Lenders that the circumstances causing such suspension no longer exist. 
 (c) If the
Borrower shall fail to select the duration of any Interest Period for any Eurodollar Rate Advances in accordance with the provisions contained in the definition of “Interest Period” in Section 1.01, the Agent will forthwith so notify
the Borrower and the Lenders and such Advances will automatically, on the last day of the then existing Interest Period therefor, Convert into Base Rate Advances. 
 (d) On the date on which the aggregate unpaid principal amount of Eurodollar Rate Advances comprising any Borrowing shall be reduced, by payment or prepayment or otherwise, to less than $10,000,000, such
Advances shall automatically Convert into Base Rate Advances. 

  
 22 

 (e) Upon the occurrence and during the continuance of any Event of Default, (i) each
Eurodollar Rate Advance will automatically, on the last day of the then existing Interest Period therefor, be Converted into Base Rate Advances and (ii) the obligation of the Lenders to make, or to Convert Advances into, Eurodollar Rate
Advances shall be suspended. 
 (f) If British Bankers’ Association Interest Settlement Rates are unavailable and fewer
than two Reference Banks furnish timely information to the Agent for determining the Eurodollar Rate: 
 (i) the
Agent shall forthwith notify the Borrower and the Lenders that the interest rate cannot be determined for such Eurodollar Rate Advances, 
 (ii) with respect to each Eurodollar Rate Advance, each such Advance will automatically, on the last day of the then existing Interest Period therefor, Convert into a Base Rate Advance, and 

(iii) the obligation of the Lenders to make Eurodollar Rate Advances or to Convert Advances into Eurodollar Rate Advances
shall be suspended until the Agent shall notify the Borrower and the Lenders that the circumstances causing such suspension no longer exist. 
 Section 2.08. Optional Conversion of Advances. The Borrower may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. (New York City time) on the third
Business Day prior to the date of the proposed Conversion and subject to the provisions of Section 2.07 and 2.11, Convert all Advances of one Type comprising the same Borrowing made to the Borrower into Advances of the other Type;
provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar
Rate Advances shall be in an amount not less than $10,000,000 or an integral multiple of $1,000,000 in excess thereof, and no Conversion of any Advances shall result in more than six separate Borrowings. Each such notice of a Conversion shall,
within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each
such Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower. 
 Section 2.09. Prepayments
of Advances. (a) Optional. The Borrower may, upon notice at least three Business Days’ prior to the date of such prepayment, in the case of Eurodollar Rate Advances, and not later than 11:00 A.M. (New York City time) on the date
of such prepayment, in the case of Base Rate Advances, to the Agent stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given the Borrower shall, prepay the outstanding principal amount of the Advances
comprising part of the same Borrowing made to the Borrower in whole or ratably in part, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial
prepayment of Advances shall be in an aggregate principal amount of not less than $10,000,000 or an integral multiple of $1,000,000 in excess thereof, and (y) in the event of any such prepayment of a Eurodollar Rate Advance, the Borrower shall
be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c). 

  
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 (b) Mandatory. (i) Within five Business Days of the receipt on or after the
Closing Date of any Net Cash Proceeds from any Prepayment Event, the Borrower shall prepay the Advances in an aggregate amount equal to 100% of the amount of such Net Cash Proceeds (but subject in all respect to the reinvestment rights set forth in
the definition of “Net Cash Proceeds”). The Borrower shall notify the Agent of the occurrence of any Prepayment Event at least two Business Days prior to the consummation of such Prepayment Event and such notice shall be accompanied by a
reasonably detailed calculation of the anticipated Net Cash Proceeds thereof. Promptly following receipt of such notice, the Agent shall advise the Lenders of the occurrence of the Prepayment Event and the anticipated Net Cash Proceeds thereof.

 (ii) Each prepayment made pursuant to this Section 2.09(b) shall be made together with any interest
accrued to the date of such prepayment on the principal amounts prepaid and, in the case of any prepayment of a Eurodollar Rate Advance on a date other than the last day of an Interest Period or at its maturity, any additional amounts which the
Borrower shall be obligated to reimburse to the Lenders in respect thereof pursuant to Section 8.04(c). 
 Amounts repaid or prepaid
pursuant to this Section 2.09 may not be reborrowed. 
 Section 2.10. Increased Costs. (a) If, due to
either (i) the introduction of or any change in or in the interpretation of any law or regulation or (ii) the compliance with any guideline or request from any central bank or other governmental authority including, without limitation, any
agency of the European Union or similar monetary or multinational authority (whether or not having the force of law), there shall be any increase in the cost to any Lender of agreeing to make or making, funding, continuing, converting to or
maintaining Eurodollar Rate Advances (excluding for purposes of this Section 2.10 any such increased costs resulting from (i) Taxes or Other Taxes (as to which Section 2.13 shall govern) and (ii) changes in the basis of taxation
of overall net income or overall gross income by the United States or by the foreign jurisdiction or state under the laws of which such Lender is organized or has its Applicable Lending Office or any political subdivision thereof), then the Borrower
shall from time to time, upon demand by such Lender (with a copy of such demand to the Agent), pay to the Agent for the account of such Lender additional amounts sufficient to compensate such Lender for such increased cost. A certificate as to the
amount of such increased cost, submitted to the Borrower and the Agent by such Lender, shall be conclusive and binding for all purposes, absent manifest error. 
 (b) If any Lender determines that compliance with any law or regulation or any guideline or request from any central bank or other governmental authority (whether or not having the force of law) affects
or would affect the amount of capital or liquidity required or expected to be maintained by such Lender or any corporation controlling such Lender and that the amount of such capital is increased by or based upon the existence of such Lender’s
commitment to lend and other commitments of such type, then, upon demand by such Lender (with a copy of such demand to the Agent), the Borrower shall pay to the Agent for the account of such Lender, from time to time as specified by such Lender,
additional amounts sufficient to compensate such Lender or such corporation in the light of such circumstances, to the extent that 

  
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such Lender reasonably determines such increase in capital to be allocable to the existence of such Lender’s commitment to lend. A certificate as to such amounts submitted to the Borrower
and the Agent by such Lender shall be conclusive and binding for all purposes, absent manifest error. 
 (c) For the avoidance
of doubt, for the purposes of this Section 2.10 with respect to capital adequacy, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, regulations, guidelines, interpretations or directives thereunder
or issued in connection therewith (whether or not having the force of law) and (y) all requests, rules, regulations, guidelines, interpretations or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking
Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities (whether or not having the force of law), in each case pursuant to Basel III, shall in each case be deemed to be a change in law regardless of
the date enacted, adopted, issued, promulgated or implemented. 
 Section 2.11. Illegality. Notwithstanding any
other provision of this Bridge Agreement, if any Lender shall notify the Agent that the introduction of or any change in or in the interpretation of any law or regulation makes it unlawful, or any central bank or other governmental authority asserts
that it is unlawful, for any Lender or its Eurodollar Lending Office to perform its obligations hereunder to make Eurodollar Rate Advances or to fund or maintain Eurodollar Rate Advances hereunder, (a) each Eurodollar Rate Advance will
automatically, upon such demand be Converted into a Base Rate Advance and (b) the obligation of the Lenders to make Eurodollar Rate Advances or to Convert Advances into Eurodollar Rate Advances shall be suspended until the Agent shall notify
the Borrower and the Lenders that the circumstances causing such suspension no longer exist. 
 Section 2.12. Payments
and Computations. (a) The Borrower shall make each payment hereunder, irrespective of any right of counterclaim or set-off, not later than 1:00 P.M. (New York City time) on the day when due in Dollars to the Agent at the
applicable Agent’s Account in same day funds. The Agent will promptly thereafter cause to be distributed like funds relating to the payment of principal or interest, fees or commissions ratably (other than amounts payable pursuant to Sections
2.03(d), 2.10, 2.13 or 8.04(c)) to the Lenders for the account of their respective Applicable Lending Offices, and like funds relating to the payment of any other amount payable to any Lender to such Lender for the account of its Applicable Lending
Office, in each case to be applied in accordance with the terms of this Bridge Agreement. Upon its acceptance of an Assignment and Assumption and recording of the information contained therein in the Register pursuant to Section 8.07(c), from
and after the effective date specified in such Assignment and Assumption, the Agent shall make all payments hereunder and under the Notes in respect of the interest assigned thereby to the Lender assignee thereunder, and the parties to such
Assignment and Assumption shall make all appropriate adjustments in such payments for periods prior to such effective date directly between themselves. 
 (b) All computations of interest based on the Base Rate (other than as calculated by reference to clauses (b) or (c) of the definition of Base Rate) and of the Undrawn Commitment Fee shall be
made by the Agent on the basis of a year of 365 or 366 days, as the case may be and all other computations of interest and of fees shall be made by the Agent on the basis of a year of 

  
 25 

 
360 days, in each case for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest or commitment fees are payable. Each
determination by the Agent of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error. 
 (c) Whenever any payment hereunder or under the Notes shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of
time shall in such case be included in the computation of payment of interest, fee or commission, as the case may be; provided, however, that, if such extension would cause payment of interest on or principal of Eurodollar Rate
Advances to be made in the next following calendar month, such payment shall be made on the next preceding Business Day. 
 (d)
Unless the Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Lenders hereunder that the Borrower will not make such payment in full, the Agent may assume that the Borrower has made such payment
in full to the Agent on such date and the Agent may, in reliance upon such assumption, cause to be distributed to each Lender on such due date an amount equal to the amount then due to such Lender. If and to the extent the Borrower shall not have so
made such payment in full to the Agent, each Lender shall repay to the Agent forthwith on demand such amount distributed to such Lender together with interest thereon, for each day from the date such amount is distributed to such Lender until the
date such Lender repays such amount to the Agent, at the Federal Funds Rate. 
 Section 2.13. Taxes. (a) Any
and all payments by the Borrower hereunder or under the Notes shall be made, in accordance with Section 2.12, free and clear of and without deduction for any and all present or future taxes, levies, imposts, deductions, charges or withholdings,
and all liabilities with respect thereto, excluding (i) in the case of each Lender and the Agent, taxes imposed on its overall net income, and franchise taxes imposed on it in lieu of net income taxes, by the jurisdiction under the laws of
which such Lender or the Agent (as the case may be) is organized or any political subdivision thereof and, in the case of each Lender, taxes imposed on its overall net income, and franchise taxes imposed on it in lieu of net income taxes, by the
jurisdiction of such Lender’s Applicable Lending Office or any political subdivision thereof and (ii) any United States withholding tax imposed under FATCA (all such non-excluded taxes, levies, imposts, deductions, charges, withholdings
and liabilities in respect of payments hereunder or under the Notes being hereinafter referred to as “Taxes”). If the Borrower shall be required by law to deduct any Taxes from or in respect of any sum payable hereunder or under any
Note to any Lender or the Agent, (i) the sum payable shall be increased as may be necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 2.13) such Lender or
the Agent (as the case may be) receives an amount equal to the sum it would have received had no such deductions been made, (ii) the Borrower shall make such deductions and (iii) the Borrower shall pay the full amount deducted to the
relevant taxation authority or other authority in accordance with applicable law. 
 (b) In addition, the Borrower shall pay any
present or future stamp or documentary taxes or any other excise or property taxes, charges or similar levies that arise from any payment made hereunder or under the Notes or from the execution, delivery or registration of, performing under, or
otherwise with respect to, this Bridge Agreement or the Notes (hereinafter referred to as “Other Taxes”). 

  
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 (c) The Borrower shall indemnify each Lender and the Agent for and hold it harmless against
the full amount of Taxes or Other Taxes (including, without limitation, taxes of any kind imposed by any jurisdiction on amounts payable under this Section 2.13) imposed on or paid by such Lender or the Agent (as the case may be) and any
liability (including penalties, interest and expenses) arising therefrom or with respect thereto. This indemnification shall be made within 30 days from the date such Lender or the Agent (as the case may be) makes written demand therefor.

 (d) Within 30 days after the date of any payment of Taxes, the Borrower shall furnish to the Agent, at its address referred
to in Section 8.02, the original or a certified copy of a receipt evidencing such payment to the extent such a receipt is issued therefor, or other written proof of payment thereof that is reasonably satisfactory to the Agent. In the case of
any payment hereunder or under the Notes by or on behalf of the Borrower through an account or branch outside the United States or by or on behalf of the Borrower by a payor that is not a United States person, if the Borrower determines that no
Taxes are payable in respect thereof, the Borrower shall furnish, or shall cause such payor to furnish, to the Agent, at such address, an opinion of counsel acceptable to the Agent stating that such payment is exempt from Taxes. For purposes of this
subsection (d) and subsection (e), the terms “United States” and “United States person” shall have the meanings specified in Section 7701 of the Internal Revenue Code. 

(e) (i) Each Lender organized under the laws of a jurisdiction outside the United States, on or prior to the date of its execution and
delivery of this Bridge Agreement in the case of each Initial Lender and on the date of the Assignment and Assumption pursuant to which it becomes a Lender in the case of each other Lender, and from time to time thereafter as requested in writing by
the Borrower (but only so long as such Lender remains lawfully able to do so), shall provide each of the Agent and the Borrower with two original Internal Revenue Service forms W-8BEN or W-8ECI, as appropriate, or any successor or other form
prescribed by the Internal Revenue Service, certifying that such Lender is exempt from or entitled to a reduced rate of United States withholding tax on payments pursuant to this Bridge Agreement or the Notes. If the form provided by a Lender at the
time such Lender first becomes a party to this Bridge Agreement indicates a United States interest withholding tax rate in excess of zero, withholding tax at such rate shall be considered excluded from Taxes unless and until such Lender provides the
appropriate forms certifying that a lesser rate applies, whereupon withholding tax at such lesser rate only shall be considered excluded from Taxes for periods governed by such form; provided, however, that, if at the date of the
Assignment and Assumption pursuant to which a Lender assignee becomes a party to this Bridge Agreement, the Lender assignor was entitled to payments under subsection (a) in respect of United States withholding tax with respect to interest paid
at such date, then, to such extent, the term Taxes shall include (in addition to withholding taxes that may be imposed in the future or other amounts otherwise includable in Taxes) United States withholding tax, if any, applicable with respect to
the Lender assignee on such date. If any form or document referred to in this subsection (e) requires the disclosure of information, other than information necessary to compute the tax payable and information required on the date hereof by
Internal Revenue Service form W-8BEN or W-8ECI, that the Lender reasonably considers to be confidential, the Lender shall give notice thereof to the Borrower and shall not be obligated to include in such form or document such confidential
information. 

  
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 (ii) If a payment made to a Lender under this Bridge Agreement would be
subject to United States federal withholding tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Internal Revenue Code,
as applicable), such Lender shall deliver to the Borrower, at the time or times prescribed by law and at such time or times reasonably requested in writing by the Borrower, such documentation prescribed by applicable law (including as prescribed by
Section 1471(b)(3)(C)(i) of the Internal Revenue Code) and such additional documentation reasonably requested in writing by the Borrower as may be necessary for the Borrower to comply with their obligations under FATCA, to determine that such
Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. 
 (f) For any period with respect to which a Lender has failed to provide the Borrower with the appropriate form described in Section 2.13(e) (other than if such failure is due to a change in law
occurring subsequent to the date on which a form originally was required to be provided, or if such form otherwise is not required under subsection (e) above), such Lender shall not be entitled to indemnification under Section 2.13(a) or
(c) with respect to Taxes imposed by the United States by reason of such failure; provided, however, that should a Lender become subject to Taxes because of its failure to deliver a form required hereunder, the Borrower shall take
such steps as the Lender shall reasonably request to assist the Lender to recover such Taxes. 
 (g) Any Lender claiming any
additional amounts payable pursuant to this Section 2.13 agrees to use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions) to change the jurisdiction of its Eurodollar Lending Office if the making of
such a change would avoid the need for, or reduce the amount of, any such additional amounts that may thereafter accrue and would not, in the reasonable judgment of such Lender, be otherwise disadvantageous to such Lender. 

Section 2.14. Sharing of Payments, Etc. If any Lender shall, by exercising any right of setoff or counterclaim or otherwise,
obtain payment in respect of any principal of or interest on any of its Advances or other obligations hereunder resulting in such Lender receiving payment of a proportion of the aggregate amount of its Advances and accrued interest thereon or other
such obligations greater than its pro rata share thereof as provided herein, then the Lender receiving such greater proportion shall (a) notify the Agent of such fact, and (b) purchase (for cash at face value) participations in the
Advances and such other obligations of the other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of
and accrued interest on their respective Advances and other amounts owing them; provided that: 
 (i) if
any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and 

(ii) the provisions of this paragraph shall not be construed to apply to (x) any payment made by the Borrower
pursuant to and in accordance with the express terms of 

  
 28 

 
this Bridge Agreement, or (y) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Advances to any assignee or participant, other
than to the Borrower or any Subsidiary thereof (as to which the provisions of this paragraph shall apply). 
 The Borrower consents to the
foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of setoff and counterclaim, subject to
Section 8.05, with respect to such participation as fully as if such Lender were a direct creditor of the Borrower in the amount of such participation. 
 Section 2.15. Evidence of Debt. (a) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to such Lender
resulting from each Advance owing to such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder in respect of Advances. The Borrower agrees that upon notice by any
Lender to the Borrower (with a copy of such notice to the Agent) to the effect that a Note is required or appropriate in order for such Lender to evidence (whether for purposes of pledge, enforcement or otherwise) the Advances owing to, or to be
made by, such Lender, the Borrower shall promptly execute and deliver to such Lender a Note payable to the order of such Lender in a principal amount up to the Commitment of such Lender. 

(b) The Register maintained by the Agent pursuant to Section 8.07(c) shall include a control account, and a subsidiary account for
each Lender, in which accounts (taken together) shall be recorded (i) the date and amount of each Borrowing made hereunder, the Type of Advances comprising such Borrowing and, if appropriate, the Interest Period applicable thereto,
(ii) the terms of each Assignment and Assumption delivered to and accepted by it, (iii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iv) the
amount of any sum received by the Agent from the Borrower hereunder and each Lender’s share thereof. 
 (c) Entries made in
good faith by the Agent in the Register pursuant to subsection (b) above, and by each Lender in its account or accounts pursuant to subsection (a) above, shall be prima facie evidence of the amount of principal and interest due and payable
or to become due and payable from the Borrower to, in the case of the Register, each Lender and, in the case of such account or accounts, such Lender, under this Bridge Agreement, absent manifest error; provided, however, that the
failure of the Agent or such Lender to make an entry, or any finding that an entry is incorrect, in the Register or such account or accounts shall not limit or otherwise affect the obligations of the Borrower under this Bridge Agreement. 

Section 2.16. Use of Proceeds. The proceeds of the Advances shall be available (and the Borrower agrees that it shall use
such proceeds) solely to (a) pay a portion of the Merger Cash Consideration, (b) in the discretion of the Borrower, refinance certain of the existing Indebtedness of the Acquired Business and (c) pay the Transaction Costs. 

  
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 Section 2.17. Mitigation Obligations; Replacement of Lenders.  

(a) Designation of a Different Lending Office. If any Lender requests compensation under Section 2.10, or requires the
Borrower to pay any Taxes or additional amounts to any Lender or any governmental authority for the account of any Lender pursuant to Section 2.13, then such Lender shall (at the request of the Borrower) use reasonable efforts to designate a
different Applicable Lending Office for funding or booking its Advances hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment
(i) would eliminate or reduce amounts payable pursuant to Section 2.10 or 2.13, as the case may be, in the future, and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous
to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 
 (b) Replacement of Lenders. If (i) any Lender requests compensation under Section 2.10 or the Borrower is required to pay additional amounts to any Lender or any governmental authority
for the account of any Lender pursuant to Section 2.13 and, in each case, such Lender has declined or is unable to designate a different lending office in accordance with Section 2.17(a), or (ii) any Lender is a Defaulting Lender,
then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by,
Section 8.07), all of its interests, rights and obligations under this Bridge Agreement to an Eligible Assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided
that: 
 (A) the Borrower shall have paid to the Agent the assignment fee (if any) specified in
Section 8.07; 
 (B) such Lender shall have received payment of an amount equal to the outstanding principal
of its Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder (including any amounts under Section 8.04(c)) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or
the Borrower (in the case of all other amounts); 
 (C) in the case of any such assignment resulting from a claim
for compensation under Section 2.10 or payments required to be made pursuant to Section 2.12, such assignment will result in a reduction in such compensation or payments thereafter; and 

(D) such assignment does not conflict with applicable law. 

A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or
otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. 

  
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 ARTICLE 3 
 CONDITIONS TO EFFECTIVENESS AND LENDING 
 Section 3.01. Conditions Precedent to Effectiveness. This Bridge Agreement shall become effective on and as of the first date (the “Effective Date”) on which the following
conditions precedent have been satisfied: 
 (a) The Borrower shall have paid all fees required to be paid on or before the
Effective Date, and all reasonable expenses of the Agent to the extent invoiced prior to the Effective Date. 
 (b) The Agent
shall have received on or before the Effective Date the following, in form and substance reasonably satisfactory to the Agent: 
 (i) The Notes made by the Borrower to the order of the Lenders to the extent requested by any Lender pursuant to Section 2.15. 

(ii) Certified copies of the resolutions of the Board of Directors (or equivalent body) of the Borrower approving this
Bridge Agreement and the Notes to be delivered by it, and of its by-laws and certificate of incorporation, together with all amendments thereto, and all documents evidencing other necessary corporate action and governmental approvals, if any, with
respect to this Bridge Agreement and such Notes. 
 (iii) A copy of a good standing certificate issued by the
Secretary of State of the jurisdiction of the Borrower’s jurisdiction of incorporation. 
 (iv) A
certificate of the Secretary or an Assistant Secretary (or equivalent officer) of the Borrower certifying the names and true signatures of the officers of the Borrower authorized to sign this Bridge Agreement and the Notes and the other documents to
be delivered by it hereunder. 
 (v) A favorable opinion of David A. Woodmansee, Assistant General Counsel for
the Borrower, substantially in the form of Exhibit D hereto and as to such other matters as any Lender through the Agent may reasonably request. 
 (vi) A favorable opinion of Jones Day, special counsel for the Borrower, in form and substance satisfactory to the Agent. 
 (c) The Agent shall have received on or before the Effective Date from each party thereto a counterpart of this Bridge Agreement signed on behalf of such party. 

(d) The Lenders shall have received all documentation and other information required by regulatory authorities under applicable
“know your customer” and anti-money laundering rules and regulations, including the PATRIOT Act at least three Business Days prior to the Effective Date. 

  
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 Section 3.02. Conditions Precedent to Closing. The obligation of each Lender to
make an Advance on the Closing Date shall be subject to the condition precedent that the Effective Date shall have occurred and that the following additional conditions precedent shall have been satisfied prior to the termination of the Commitments
pursuant to Section 2.04: 
 (a) The Merger shall have been consummated simultaneously (or substantially simultaneously or
concurrently) with the funding of the Advances in accordance with applicable law and on the terms described in the Merger Agreement. The Merger Agreement shall not have been amended or modified, and no condition shall have been waived or consent
granted, in any respect that is materially adverse to the Lenders without the Arrangers’ prior written consent (it being understood and agreed that any amendment or modification that results in (x) any increase in consideration for the
Merger, (y) any decrease in consideration for the Merger of more than 10% or (z) any decrease in consideration for the Merger of less than 10% that is not applied to reduce the Commitments hereunder on a dollar-for-dollar basis, in each
case other than any pricing adjustments expressly contemplated under the Merger Agreement, shall require the Arrangers’ prior written consent). 
 (b) The Borrower shall have furnished to the Agent (a) U.S. GAAP audited consolidated balance sheets and related statements of income, stockholders’ equity and cash flows of the Borrower for the
three most recently completed fiscal years ended at least 90 days before the Closing Date, (b) U.S. GAAP unaudited consolidated balance sheets and related statements of income, stockholders’ equity and cash flows of the Borrower for each
subsequent fiscal quarter ended at least 45 days before the Closing Date, (c) the U.S. GAAP audited consolidated balance sheet and related statements of income, stockholders’ equity and cash flows of the Acquired Business for the three
most recently completed fiscal years ended at least 90 days before the Closing Date, and (d) U.S. GAAP unaudited consolidated balance sheets and related statements of income, stockholders’ equity and cash flows of the Acquired Business for
each subsequent fiscal quarter ended at least 45 days before the Closing Date. 
 (c) The Borrower shall have furnished to the
Agent a pro forma consolidated balance sheet and related pro forma consolidated statements of income of the Borrower as of and for the twelve-month period ending on the last day of the most recently completed four-fiscal quarter period for which
financial statements have been delivered pursuant to paragraph (b) above, prepared after giving effect to the Transactions as if the Transactions had occurred as of such date (in the case of such balance sheet) or at the beginning of such
period (in the case of such other financial statements). 
 (d) Since September 30, 2011, there shall not have occurred any
Acquired Business Material Adverse Effect. 
 (e) The Borrower shall have paid all fees and expenses of the Agent and the
Lenders required to be paid on or before the Closing Date and, with regard to expenses, for which reasonably detailed invoices have been presented to the Borrower not less than one Business Day prior to the Closing Date. 

(f) A Notice of Borrowing shall have been submitted in accordance with the terms hereof. 

  
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 (g) The Borrower shall have delivered to the Agent a certificate attesting to the Solvency
of the Borrower and its Subsidiaries, taken as a whole, from the Borrower’s chief financial officer in the form of Exhibit F. 
 (h) The Merger Agreement Representations and the Specified Representations shall be true and correct. 
 (i) (x) No Default or Event of Default has occurred and is continuing, or would result from the Advance on the Closing Date (other than a Default or Event of Default resulting from a breach of any of the
covenants set forth in Section 5.01 or a representation or warranty that does not constitute a Specified Representation) and (y) the Borrower shall be in pro forma compliance with Section 5.03 giving effect to the Transactions
as of the Closing Date (and shall have delivered a certificate from the chief financial officer evidencing such compliance in reasonable detail). 
 (j) Receipt by each Arranger of a certificate of an authorized officer of the Borrower certifying as to the matters set forth in paragraphs (a), (d), (h) and (i) above. 

(k) In the event that the Borrower determines that any of the representations and warranties set forth in Article 4 required to be made
on the Closing Date (other than the Specified Representations and representations and warranties that are not otherwise qualified by reference to a schedule) cannot be made on the Closing Date, the Agent shall have received a Closing Date Schedule
setting forth such matters as the Borrower deems necessary to qualify such representations and warranties such that, after giving effect to the Closing Date Schedule, the Borrower determines that it can make such representations and warranties as of
the Closing Date (it being understood and agreed nothing in this paragraph (k) shall be construed as making the accuracy of any representation or warranty set forth herein (other than the Specified Representations) a condition precedent to the
obligations of the Lenders to make Advances hereunder). 
 Section 3.03. Determinations Under Sections 3.01 and 3.02.
For purposes of determining compliance with the conditions specified in Section 3.01 and Section 3.02, each Lender shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter
required thereunder to be consented to or approved by or acceptable or satisfactory to the Lenders unless an officer of the Agent responsible for the transactions contemplated by this Bridge Agreement shall have received notice from such Lender
prior to the date that the Borrower, by notice to the Agent, designates as the proposed Effective Date specifying its objection thereto. The Agent shall promptly notify the Lenders of the occurrence of the Effective Date. 

ARTICLE 4 

REPRESENTATIONS AND WARRANTIES 

Section 4.01. Representations and Warranties of the Borrower. The Borrower represents and warrants (x) with respect to
Specified Effective Date Representations, on the 

  
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Effective Date and (y) on the Closing Date (it being agreed that, other than for purposes of Section 6.01, and subject to Section 6.02, the representations and warranties made by
the Borrower herein on the Closing Date (other than the Specified Representations) shall be deemed to be qualified by the matters set forth on the Closing Date Schedule delivered pursuant to Section 3.02(k)), as follows: 

(a) Corporate Status. The Borrower and each Domestic Subsidiary (i) is a duly organized and validly existing corporation in
good standing under the laws of the jurisdiction of its incorporation, (ii) has the corporate power and authority to own its property and assets and to transact the business in which it is engaged or presently proposes to engage and
(iii) has duly qualified and is authorized to do business and is in good standing as a foreign corporation in every jurisdiction (other than the jurisdiction of its incorporation) in which it owns or leases real property or in which the nature
of its business requires it to be so qualified, except where the failure to so qualify, individually or in the aggregate, may not reasonably be expected to have a Material Adverse Effect. Schedule 4.01(a) identifies all of the Borrower’s
Material Subsidiaries, Domestic Subsidiaries and Principal Subsidiaries as of the Effective Date. 
 (b) Corporate Power and
Authority. The Borrower has the corporate power and authority to execute, deliver and carry out the terms and provisions of this Bridge Agreement and the Notes to be delivered by it and has taken all necessary corporate action to authorize the
execution, delivery and performance by the Borrower of this Bridge Agreement and such Notes. The Borrower has duly executed and delivered this Bridge Agreement, and this Bridge Agreement and each Note to be delivered by it constitutes, its legal,
valid and binding obligation, enforceable in accordance with its terms, except as enforcement thereof may be subject to (i) the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditors’
rights generally and (ii) general principles of equity (regardless of whether such enforcement is sought in a proceeding in equity or at law). 
 (c) No Violation. Neither the execution, delivery or performance by the Borrower of this Bridge Agreement and the Notes to be delivered by it, nor compliance by it with the terms and provisions
thereof nor the consummation of the financing transactions contemplated thereby, (i) will contravene any applicable provision of any material law, statute, rule, regulation, order, writ, injunction or decree of any court or governmental
instrumentality, (ii) will conflict or be inconsistent with or result in any material breach of, any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in the creation or imposition of (or the
obligation to create or impose) any Lien upon any of the property or assets of the Borrower or any of its Subsidiaries pursuant to the terms of any material indenture, mortgage, deed of trust, agreement or other instrument to which the Borrower or
any of its Subsidiaries is a party or by which it or any of its property or assets is bound or to which it may be subject or (iii) will violate any provision of the Certificate of Incorporation or By-Laws of the Borrower. 

(d) Litigation. Except as set forth in Schedule 4.01(d), there are no actions, suits or proceedings, or any governmental
investigation or any arbitration, in each case pending or, to the knowledge of the Borrower, threatened which, individually or in the aggregate, may reasonably be expected to result in a Material Adverse Effect and no material adverse change has
occurred with respect to any of the matters set forth in Schedule 4.01(d). 

  
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 (e) Financial Statements; Financial Condition; etc. The Financial Statements and the
financial statements of the Borrower and its Consolidated Subsidiaries as at September 30, 2011 and December 31, 2011, heretofore delivered to the Lenders were prepared in accordance with generally accepted accounting principles
consistently applied as in effect of the date of preparation and fairly present the consolidated financial condition and the results of operations of the entities covered thereby on the date and for the period covered thereby, except as disclosed in
the notes thereto. 
 (f) Material Adverse Change. Since December 31, 2011, there has not occurred and there does
not exist any event, act, condition or liability which has had, or may reasonably be expected to have, a Material Adverse Effect. 
 (g) Use of Proceeds; Margin Regulations. All proceeds of each Advance will be used by the Borrower only in accordance with the provisions of Section 2.16. Neither the making of any Advance nor
the use of the proceeds thereof will violate or be inconsistent with the provisions of Regulations U or X. 
 (h)
Governmental Approvals. No order, consent, approval, license, authorization, or validation of, or filing, recording or registration with, or exemption by, any governmental or public body or authority, or any subdivision thereof, is required
for the due execution, delivery and performance of this Bridge Agreement or the Notes or the consummation of any of the transactions contemplated thereby. 
 (i) Tax Returns and Payments. The Borrower and each of its Subsidiaries has filed all material tax returns required to be filed by it and has paid all taxes shown on such returns and assessments
payable by it which have become due, other than those not yet delinquent or those that are in the aggregate adequately reserved against in accordance with generally accepted accounting principles which are being diligently contested in good faith by
appropriate proceedings. 
 (j) ERISA. The Borrower and each member of its ERISA Controlled Group have fulfilled their
obligations under the minimum funding standards of ERISA and the Code with respect to each Plan and are in compliance in all material respects with the presently applicable provisions of ERISA and the Code with respect to each Plan. No such Person
has (A) sought a waiver of the minimum funding standard under Section 412 of the Code in respect of any Plan, (B) failed to make any contribution or payment to any Plan or Multiemployer Plan, or made any amendment to any Plan, which
has resulted or could result in the imposition of a Lien or the posting of a bond or other security under ERISA or the Code that is (1) in excess of $5,000,000 and (2) not discharged within 30 days of such failure to pay, or
(C) incurred any liability, where the liability would result in a Material Adverse Effect, under Title IV of ERISA (other than a liability to the PBGC for premiums under Section 4007 or ERISA). 

(k) Investment Company Act. Neither the Borrower nor any of its Subsidiaries is (i) an “investment company” or a
company “controlled” by an “investment company,” within the 

  
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meaning of the Investment Company Act of 1940, as amended, (ii) a “holding company” or a “subsidiary company” of a “holding company” or an “affiliate”
of either a “holding company” or (iii) subject to any other federal or state law or regulation which purports to restrict or regulate its ability to borrow money. 

(l) True and Complete Disclosure. All factual information (taken as a whole) furnished by or on behalf of the Borrower by a
Responsible Officer in writing to the Agent or any Lender on or prior to the Effective Date, for purposes of or in connection with this Bridge Agreement or any of the transactions contemplated hereby is, and all other such factual information (taken
as a whole) hereafter furnished by or on behalf of the Borrower by a Responsible Officer in writing to the Agent or any Lender will be, true and accurate in all material respects on the date as of which such information is dated or furnished and not
incomplete by knowingly omitting to state any material fact necessary to make such information (taken as a whole) not misleading at such time. As of the Effective Date, there are no facts, events, conditions or liabilities known to the Borrower
which, individually or in the aggregate, have or may reasonably be expected to have a Material Adverse Effect. 
 (m)
Environmental Matters. (i) Except as set forth in Schedule 4.01(m), (A) the Borrower, each of its Affiliates and, to the best of the Borrower’s actual knowledge, each of its other Environmental Affiliates are in compliance with
all applicable Environmental Laws except where noncompliance, individually or in the aggregate, may not reasonably be expected to have a Material Adverse Effect, (B) the Borrower, each of its Affiliates, and, to the best of the Borrower’s
actual knowledge, each of its other Environmental Affiliates has all Environmental Approvals required to operate its business as presently conducted or as reasonably anticipated to be conducted except where the failure to obtain any such
Environmental Approval, individually or in the aggregate, may not reasonably be expected to have a Material Adverse Effect, (C) neither the Borrower, any of its Affiliates, nor, to the best of the Borrower’s actual knowledge, any of its
other Environmental Affiliates has received any written communication, whether from a governmental authority, citizens group, employee or otherwise, that alleges that the Borrower, such Affiliate or such Environmental Affiliate is not in full
compliance with all Environmental Laws and where such noncompliance, individually or in the aggregate, may reasonably be expected to have a Material Adverse Effect, and (D) to the best of the Borrower’s actual knowledge, there are no
circumstances that may prevent or interfere with such full compliance in the future except where such noncompliance, individually or in the aggregate, may not reasonably be expected to have a Material Adverse Effect. 

(ii) Except as set forth in Schedule 4.01(d), there is no Environmental Claim pending or threatened against the Borrower,
any of its Affiliates or, to the best of the Borrower’s actual knowledge, its other Environmental Affiliates, which, individually or in the aggregate, may reasonably be expected to have a Material Adverse Effect. 

(iii) Except as set forth in Schedule 4.01(m), there are no past or present actions, activities, circumstances,
conditions, events or incidents, including, without limitation, the release, emission, discharge or disposal of any Material of Environmental Concern, that could form the basis of any Environmental Claims against the Borrower, any of its Affiliates
or, to the best of the Borrower’s actual knowledge, any of its other Environmental Affiliates, which Environmental Claims, individually or in the aggregate, may reasonably be expected to have a Material Adverse Effect. 

  
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 (iv) Without in any way limiting the generality of the foregoing, except as
disclosed in Schedule 4.01(m), (A) there are no on-site or off-site locations in which the Borrower, any of its Affiliates or, to the best of the Borrower’s actual knowledge, any of its other Environmental Affiliates has stored, disposed
or arranged for the disposal of Materials of Environmental Concern, (B) there are no underground storage tanks located on property owned or leased by the Borrower, any of its Affiliates or, to the best of the Borrower’s actual knowledge,
any of its other Environmental Affiliates, (C) there is no asbestos contained in or forming part of any building, building component, structure or office space owned or leased by the Borrower, any of its Affiliates or, to the best of the
Borrower’s actual knowledge, any of its other Environmental Affiliates, and (D) no polychlorinated biphenyls (PCBs) are used or stored at any property owned or leased by the Borrower, any of its Affiliates or, to the best of the
Borrower’s actual knowledge, any of its other Environmental Affiliates, in each case the consequences of which may reasonably be expected to have a Material Adverse Effect. 

(v) For purposes of this Section 4.01(m), “actual” knowledge means knowledge of a Responsible Officer.

 (n) Ownership of Property. The Borrower and each of its Subsidiaries has good and marketable fee simple title to or
valid leasehold interests in all of the real property owned or leased by the Borrower or such Subsidiary and good title to all of their personal property, except where the failure to hold such title or leasehold interests, individually or in the
aggregate, may not reasonably be expected to have a Material Adverse Effect. The personal and real property owned by the Borrower and its Subsidiaries is not subject to any Lien of any kind except Liens permitted hereby. The Borrower and its
Subsidiaries enjoy peaceful and undisturbed possession under all of their respective leases except where the failure to enjoy such peaceful and undisturbed possession, individually or in the aggregate, may not reasonably be expected to have a
Material Adverse Effect. 
 (o) No Default. The Borrower is not in default under or with respect to any agreement,
instrument or undertaking to which it is a party or by which it or any of its property is bound in any respect which may reasonably be expected to result in a Material Adverse Effect. No Default exists. 

(p) Licenses, etc. The Borrower and each of its Subsidiaries have obtained and hold in full force and effect, all franchises,
licenses, permits, certificates, authorizations, qualifications, accreditations, easements, rights of way and other rights, consents and approvals which are necessary for the operation of their respective businesses as presently conducted, except
where the failure to obtain and hold the same, individually or in the aggregate, may not reasonably be expected to have a Material Adverse Effect. 
 (q) Compliance With Law. The Borrower and each of its Subsidiaries is in compliance with all laws, rules, regulations, orders, judgments, writs and decrees (including, without limitation,
compliance with the PATRIOT Act) except where such non-compliance, individually or in the aggregate, may not reasonably be expected to have a Material Adverse Effect. 

  
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 (r) Solvency. The Borrower and its Subsidiaries, on a consolidated basis immediately
after giving effect to the Transactions and the other transactions contemplated hereby to occur on the Closing Date (including without limitation, the funding of the Advances hereunder on the Closing Date and the application of the proceeds
thereof), are Solvent. 
 (s) Laws against Sanctioned Persons. None of the Borrower or any Subsidiary nor, to the
knowledge of the Borrower, any director, officer, agent, employee or Affiliate of the Borrower or any Subsidiary is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department
(“OFAC”). The Borrower will not directly or indirectly use the proceeds of the Advances or otherwise make available such proceeds to any Person, for the purpose of financing the activities of any Person currently subject to any U.S.
sanctions administered by OFAC. 
 (t) Foreign Corrupt Practices Act. No part of the proceeds of the Advances will be
used, directly or indirectly, for any payment to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or
direct business or obtain any improper advantage in violation of the Foreign Corrupt Practices Act (“FCPA”). 

ARTICLE 5 

COVENANTS OF THE BORROWER 

Section 5.01. Affirmative Covenants. So long as any Advance shall remain unpaid or any Lender shall have any Commitment
hereunder: 
 (a) Information Covenants. The Borrower shall furnish to each Lender: 

(i) Quarterly Financial Statements. Within 60 days after the close of each quarterly accounting period in each
fiscal year of the Borrower (other than the final quarter), the consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such quarterly period and the related consolidated statements of income, cash flow and retained earnings
for such quarterly period and for the elapsed portion of the fiscal year ended with the last day of such quarterly period, and in each case setting forth comparative figures for the related periods in the prior fiscal year. 

(ii) Annual Financial Statements. Within 90 days after the close of each fiscal year of the Borrower, the
consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal year and the related consolidated statements of income, cash flow and retained earnings for such fiscal year, setting forth comparative figures for the
preceding fiscal year and, with respect to such consolidated financial statements, certified with an unqualified opinion by independent certified public accountants of recognized national standing selected by the Borrower, in each case together with
a report of such accounting firm stating that in the course of its regular audit of the consolidated financial statements of the Borrower, which audit was conducted in accordance with standards of

  
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the Public Company Accounting Oversight Board, such accounting firm has obtained no knowledge of any Default, or if in the opinion of such accounting firm such a Default has occurred and is
continuing, a statement as to the nature thereof. 
 (iii) Officer’s Certificate. At the time of the
delivery of the financial statements under clauses (i) and (ii) above, a certificate of the chief financial officer or treasurer of the Borrower which certifies (A) that such financial statements fairly present the financial condition
and the results of operations of the Borrower and its Subsidiaries on the dates and for the periods indicated in accordance with generally accepted accounting principles, subject, in the case of interim financial statements, to normally recurring
year-end adjustments, (B) that such officer has reviewed the terms of this Bridge Agreement and has made, or caused to be made under his or her supervision, a review in reasonable detail of the business and condition of the Borrower and its
Subsidiaries during the accounting period covered by such financial statements, and that as a result of such review such officer has concluded that no Default has occurred during the period commencing at the beginning of the accounting period
covered by the financial statements accompanied by such certificate and ending on the date of such certificate or, if any Default has occurred, specifying the nature and extent thereof and, if continuing, the action the Borrower proposes to take in
respect thereof and (C) in reasonable detail the calculations necessary to demonstrate compliance with Section 5.03, provided that in the event of any change in generally accepted accounting principles used in the preparation of
such financial statements, the Borrower shall also provide, if necessary for the determination of compliance with Section 5.03, a statement of reconciliation conforming such financial statements to GAAP. Such certificate shall be substantially
in the form of Exhibit E. 
 (iv) Notice of Default. Promptly after the Borrower obtains knowledge of the
occurrence of any Default, a certificate of the chief financial officer or treasurer of the Borrower specifying the nature thereof and the Borrower’s proposed response thereto. 

(v) Litigation. Promptly after (i) the occurrence thereof, notice to the institution of or any development in
any action, suit or proceeding or any governmental investigation or any arbitration, before any court or arbitrator or any governmental or administrative body, agency or official, against the Borrower, any of its Subsidiaries or any material
property of any thereof which, individually or in the aggregate, may reasonably be expected to have a Material Adverse Effect, or (ii) actual knowledge thereof, notice of the threat of any such action, suit, proceeding, investigation or
arbitration. 
 (vi) ERISA. (A) As soon as possible and in any event within 10 days after the
Borrower or any member of its ERISA Controlled Group knows, or has reason to know, that: (1) any Termination Event with respect to a Plan has occurred or will occur, or (2) any condition exists with respect to a Plan which presents a
material risk of termination of the Plan or imposition of an excise tax or other liability on the Borrower or any member of its ERISA Controlled Group which might have a Material Adverse Effect on the Borrower, or (3) the Borrower or any member
of its ERISA Controlled Group has applied for a waiver of the minimum funding standard under Section 412 of the Code or 

  
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Section 302 of ERISA, or (4) the Borrower or any member of its ERISA Controlled Group has engaged in a “prohibited transaction”, as defined in Section 4975 of the Code or
as described in Section 406 of ERISA, that is not exempt under Section 4975 of the Code and Section 408 of ERISA, or (5) any condition exists with respect to a Multiemployer Plan which presents a material risk of a partial or
complete withdrawal (as described in Section 4203 or 4205 of ERISA) by the Borrower or any member of its ERISA Controlled Group from a Multiemployer Plan whereupon potential liability exceeds $25,000,000, or (6) the Borrower or any member
of its ERISA Controlled Group is in “default” (as defined in Section 4219(c)(5) of ERISA) with respect to payments to a Multiemployer Plan, or (7) a Multiemployer Plan is in “reorganization” (as defined in
Section 418 of the Code or Section 4241 of ERISA) or is “insolvent” (as defined in Section 4245 of ERISA), or (8) the potential withdrawal liability (as determined in accordance with Title IV of ERISA) of the Borrower
and the members of its ERISA Controlled Group with respect to all Multiemployer Plans has increased to an amount in excess of $50,000,000 or (9) there is an action brought against the Borrower or any member of its ERISA Controlled Group under
Section 502 of ERISA with respect to its failure to comply with Section 515 of ERISA, a certificate of the chief financial officer or treasurer of the Borrower setting forth the details of each of the events described in clauses
(1) through (9) above as applicable and the action which the Borrower or the applicable member of its ERISA Controlled Group proposes to take with respect thereto, together with a copy of any notice or filing from the PBGC or which may be
required by the PBGC or other agency of the United States government with respect to each of the events described in clauses (1) through (9) above, as applicable. 

(B) As soon as possible and in any event within five Business Days after the receipt by the Borrower or any member of its
ERISA Controlled Group of a demand letter from the PBGC notifying the Borrower or such member of its ERISA Controlled Group of its final decision finding liability and the date by which such liability must be paid, a copy of such letter, together
with a certificate of the chief financial officer or treasurer of the Borrower setting forth the action which the Borrower or such member of its ERISA Controlled Group proposes to take with respect thereto. 

(vii) SEC Filings. Promptly upon the filing thereof, copies of all regular and periodic financial information,
proxy materials and other information and reports, if any, which the Borrower shall file with the Securities and Exchange Commission (or any successor thereto) or any governmental agencies substituted therefore or promptly upon the mailing thereof,
copies of such documents, material, information and reports which the Borrower shall send to or generally make available to its stockholders. 
 (viii) Environmental. Unless prohibited by any applicable law, rule, regulation, order, writ, injunction or decree of, or agreement with, any court or governmental instrumentality, or in the case
of an Environmental Affiliate which is not otherwise an Affiliate of the Borrower, any contractual undertaking the primary purpose of which was other than to prohibit the disclosure of such information, promptly and in any event within ten Business
Days after the existence of any of the following conditions, a certificate of an Authorized Officer of the Borrower specifying in detail the nature of 

  
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such condition and the Borrower’s, Affiliate’s or Environmental Affiliate’s proposed response thereto: (A) the receipt by the Borrower, any of its Affiliates, or, to the best
of its actual knowledge, any of its other Environmental Affiliates of any written communication, whether from a governmental authority, citizens group, employee or otherwise, that alleges that such Person is not in compliance with applicable
Environmental Laws and such noncompliance, individually or in the aggregate, may reasonably be expected to have a Material Adverse Effect, (B) the Borrower, any of its Affiliates, or to the best of its actual knowledge, any of its other
Environmental Affiliates shall obtain knowledge that there exists any Environmental Claim pending or threatened against such Person, which, individually or in the aggregate, may reasonably be expected to have a Material Adverse Effect, or
(C) any release, emission, discharge or disposal of any Material of Environmental Concern that could form the basis of any Environmental Claim against the Borrower, any of its Affiliates or any of its other Environmental Affiliates, which
Environmental Claim, individually or in the aggregate, may reasonably be expected to have a Material Adverse Effect. For purposes of this clause (viii), “actual” knowledge shall have the meaning provided by Section 4.01(m)(v).

 (ix) Other Information. From time to time with reasonable promptness, such other information or
documents (financial or otherwise) as the Agent or any Lender through the Agent may reasonably request. 
 (b) Books, Records
and Inspections. The Borrower shall, and shall cause each of its Domestic Subsidiaries to, keep proper books of record and account in which full, true and correct entries in conformity with generally accepted accounting principles and all
requirements of law shall be made of all dealings and transactions in relation to its business and activities. The Borrower shall, and shall cause each of its Subsidiaries to, permit officers and designated representatives of any Lender to visit and
inspect any of the properties of the Borrower or any of its Subsidiaries, and to examine the books of record and account of the Borrower or any of its Subsidiaries, and discuss the affairs, finances and accounts of the Borrower or any of its
Subsidiaries with, and be advised as to the same by, its and their officers and independent accountants, all upon reasonable notice, at such reasonable times and to such reasonable extent as such Lender may desire, provided any information
obtained as the result of such inspection, examination or discussion shall be deemed to constitute Confidential Information. 

(c) Maintenance of Insurance. The Borrower shall, and shall cause each of its Subsidiaries to, maintain with financially sound and
reputable insurance companies or through self-insurance programs consistent with past practices, insurance on itself and its properties in at least such amounts (in such types and with such deductibles) and against at least such risks as are
customarily insured against in the same general area by companies engaged in the same or a similar business similarly situated. 

(d) Taxes. (i) The Borrower shall pay or cause to be paid or discharged, and shall cause each of its Subsidiaries to pay or
cause to be paid or discharged, when due, all taxes, charges and assessments and all other lawful claims required to be paid by the Borrower or such Subsidiaries, except as contested in good faith and by appropriate proceedings diligently conducted,
if adequate reserves have been established with respect thereto in accordance with generally accepted accounting principles. 

  
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 (ii) Except as set forth in Schedule 5.01(d), the Borrower shall not, and
shall not permit any of its Subsidiaries to, file or consent to the filing of any consolidated tax return with any Person (other than the Borrower and its Subsidiaries). 
 (e) Corporate Franchises. The Borrower shall, and shall cause each of its Subsidiaries to, do or cause to be done, all things necessary to preserve and keep in full force and effect its existence
and its patents, trademarks, servicemarks, tradenames, copyrights, franchises, licenses, permits, certificates, authorizations, qualifications, accreditations, easements, rights of way and other rights, consents and approvals, except where the
failure to so preserve any of the foregoing (other than existence) may not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. 
 (f) Compliance with Law. The Borrower shall, and shall cause each of its Subsidiaries to, comply with all applicable laws, rules, statutes, regulations, decrees and orders of, and all applicable
restrictions imposed by, all governmental bodies, domestic or foreign, in respect of the conduct of their business and the ownership of their property, including, without limitation, ERISA and all Environmental Laws, other than those the
non-compliance with which, individually or in the aggregate, may not reasonably be expected to have a Material Adverse Effect. 

(g) Maintenance of Properties. The Borrower shall, and shall cause each of its Subsidiaries to, ensure that its material
properties used or useful in its business are kept in good repair, working order and condition, normal wear and tear excepted. 

(h) Securities Demand. The Borrower shall comply with the obligations under the “security demand” provisions of the Fee
Letter. 
 Section 5.02. Negative Covenants. So long as any Advance shall remain unpaid or any Lender shall have any
Commitment hereunder: 
 (a) Liens. The Borrower shall not, and shall not permit any of its Subsidiaries to, create,
incur, assume or suffer to exist, directly or indirectly, any Lien on any of its or their property (whether real or personal, including, without limitation, accounts receivable and inventory) or any interest it or they may have therein, whether
owned at the date hereof or hereafter acquired (unless, in the case of any Lien of or upon the property of any of its Subsidiaries, all obligations and indebtedness thereby secured are held by the Borrower or any of its Subsidiaries);
provided that the provisions of this Section 5.02(a) shall not prevent or restrict the existence or creation of: 
 (i) liens for taxes or assessments or governmental charges or levies not then due and delinquent or the validity of which is being contested in good faith; and materialmen’s, mechanic’s,
carrier’s, workmen’s, repairmen’s, landlord’s or other like liens, or deposits to obtain the release of such liens; 
 (ii) pledges or deposits to secure public or statutory obligations or to secure payment of workmen’s compensation or to secure performance in connection with tenders, leases of real property, or bids
of contracts and pledges or deposits made in the ordinary course of business for similar purposes; 

  
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 (iii) licenses, easements, rights of way and other similar encumbrances, or
zoning or other restrictions as to the use of real properties, the existence of which does not in the aggregate interfere with the operation of the business of the Borrower or any Subsidiary thereof; 

(iv) Liens of or upon any property or assets owned by any Subsidiary of the Borrower existing on the date on which such
Subsidiary first became a Subsidiary, if such date is subsequent to the date hereof; 
 (v) Liens of or upon
(A) any property or assets acquired by the Borrower or any of its Subsidiaries (whether by purchase, merger or otherwise) after the date hereof and not theretofore owned by the Borrower or any of its Subsidiaries), or (B) improvements made
on any property or assets now owned or hereafter acquired, securing the purchase price thereof or created or incurred simultaneously with, or within 180 days after, such acquisition or the making of such improvements or existing at the time of such
acquisition (whether or not assumed) or the making of such improvements, if (x) such Lien shall be limited to the property or assets so acquired or the improvements so made, (y) the amount of the obligations or indebtedness secured by such
Liens shall not be increased after the date of the acquisition of such property or assets or the making of such improvements, except to the extent improvements are made to such property or assets after the date of the acquisition or the making of
the initial improvements, and (z) in each instance where the obligation or indebtedness secured by such Lien constitutes an obligation or indebtedness of, or is assumed by, the Borrower or any of its Subsidiaries, the principal amount of the
obligation or indebtedness secured by such Lien shall not exceed 100% of the cost or fair value (which may be determined in good faith by the Board of Directors of the Borrower), whichever is lower, of the property or assets or improvements at the
time of the acquisition or making thereof; 
 (vi) Liens arising under leases described on Schedule 5.02(a)
hereof and Capitalized Leases; 
 (vii) mortgages securing indebtedness of a Subsidiary of the Borrower owing to
the Borrower or to another Subsidiary of the Borrower; 
 (viii) Liens on property of a corporation existing at
the time such corporation is merged into or consolidated with the Borrower or any of its Subsidiaries or at the time of a sale, lease or other disposition of the properties of a corporation as an entirety or substantially as an entirety to the
Borrower or any of its Subsidiaries; 
 (ix) Liens on or other conveyances of property owned by the Borrower or
any of its Subsidiaries in favor of the United States of America or any State thereof, or any department, agency or instrumentality or political subdivision of the United States of America or any State thereof, or in favor of any other country, or
any political subdivision thereof, to secure partial, progress, advance or other payments pursuant to 

  
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any contract or statute or to secure any indebtedness incurred for the purpose of financing all or any part of the purchase price or the cost of construction of the property subject to such
mortgages; 
 (x) Liens on accounts receivable sold to Eastman Chemical Financial Corporation, a Delaware
corporation and a wholly owned (directly or indirectly) special purpose entity of the Borrower, arising under the Borrower’s securitization program existing on the date hereof; 

(xi) renewals, extensions or replacements of the Liens referred to in clauses (iv) through (x) for amounts which
shall not exceed the principal amount of the obligations or indebtedness so renewed or replaced at the time of the renewal or replacement thereof and applying only to the same property or assets theretofore subject to such Liens; 

(xii) Liens on cash collateral provided under the terms of this Bridge Agreement; and 

(xiii) Liens (including Liens to secure judgments pending appeal) not otherwise permitted by this Section 5.02(a)
securing obligations of the Borrower or any Subsidiary thereof in an aggregate principal amount outstanding at any one time not to exceed an amount equal to 15% of Consolidated Net Tangible Assets at such time. 

(b) Restriction on Fundamental Changes. The Borrower shall not, and shall not permit any of its Subsidiaries (except pursuant to
the Merger) to, enter into any merger or consolidation, or liquidate, wind-up or dissolve (or suffer any liquidation or dissolution), discontinue its business or convey, lease, sell, transfer or otherwise dispose of, in one transaction or series of
transactions, all or substantially all of the property of the Borrower, or, in the case of a Subsidiary of the Borrower, the business or property of the Borrower and its Subsidiaries taken as a whole, whether now or hereafter acquired;
provided that any such merger or consolidation shall be permitted if (i) the Borrower shall be the continuing corporation (in the case of a merger or consolidation), or the successor, if other than the Borrower, shall be a corporation
organized and existing under the laws of the United States of America or any State thereof and such corporation shall expressly assume to the satisfaction of the Agent the due and punctual performance and observance of all of the covenants and
obligations contained in this Bridge Agreement and the Notes to be performed by the Borrower, (ii) immediately after giving effect to such merger or consolidation, no Default shall have occurred and be continuing, and (iii) on the
effective date of any such merger or consolidation occurring on or after the Effective Date, the covenant contained in Section 5.03, calculated on a pro forma basis with respect to the twelve month period ending on such date, after giving
effect to such merger or consolidation with respect to the Borrower or other obligor for the Advances and other obligations hereunder, shall be satisfied; and provided, further that any majority-owned Subsidiary of the Borrower may
merge into or convey, sell, lease or transfer all or substantially all of its assets to, the Borrower or any other majority-owned Subsidiary of the Borrower. Pro forma compliance with Section 5.03 shall be determined in a manner which includes
appropriate adjustments to Consolidated Interest Expense and Consolidated EBT, including, without limitation, adjustments designed to reflect indebtedness incurred in connection with or in contemplation of such merger or consolidation and interest
expense for the twelve month period ending on the date of such determination in respect thereof, and shall be demonstrated to the reasonable satisfaction of the Agent. 

  
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 (c) Sales and Leasebacks. The Borrower shall not, nor shall it permit any Principal
Subsidiary to, enter into any arrangement with any Person that provides for the leasing to the Borrower or any Principal Subsidiary of any Principal Property, which Principal Property has been or is to be sold or transferred by the Borrower or such
Principal Subsidiary to such Person, unless the Borrower or such Principal Subsidiary would be entitled, pursuant to Section 5.02(a), to create, incur, assume or suffer to exist any Lien upon such property securing Indebtedness; provided
that the aggregate fair market value of all properties subject to such arrangements shall not exceed at any time 10% of the Consolidated Net Tangible Assets and provided further that from and after the date on which such arrangement
becomes effective the same shall be deemed for all purposes under Section 5.02(a) to be Indebtedness secured by a Lien. 

(d) Limitations on Restricted Subsidiary Debt. The Borrower shall not permit any Restricted Subsidiary to incur or assume any Debt
except: 
 (i) Debt that is or could be secured by a Lien permitted pursuant to Section 5.02(a); 

(ii) Debt outstanding on the Effective Date; 

(iii) Debt issued to and held by the Borrower or another Subsidiary; 

(iv) Debt incurred by a Person prior to the time (A) such Person became a Restricted Subsidiary, (B) such Person
merges into or consolidates with a Restricted Subsidiary or (C) another Restricted Subsidiary merges into or consolidates with such Person (in a transaction in which such Person becomes a Restricted Subsidiary), which Debt was not incurred in
anticipation of such transaction and was outstanding prior to such transaction; 
 (v) Debt incurred in the
ordinary course of business and maturing within one year; and 
 (vi) extensions, renewals or replacements of any
of the foregoing; 
 provided, however, that the Borrower may permit a Restricted Subsidiary to incur Debt as
permitted by clauses (ii), (iv), (v) and (vi) of this Section 5.02(d) only to the extent that the aggregate amount of such Debt of all Restricted Subsidiaries does not exceed 15% of Consolidated Net Tangible Assets. 

(e) Capital Stock and Dividends. Commencing on the Closing Date, the Borrower shall not declare or pay any dividends or make any
distributions on its capital stock (other than dividends payable in its own capital stock) or redeem, repurchase or otherwise acquire or retire any of its capital stock or any options or other rights in respect thereof at any time outstanding except
(i) in connection with the Transactions, (ii) the Borrower may declare and pay ordinary course cash dividends with respect to its common stock in an amount that is no greater than the ordinary cash dividends historically paid by the
Borrower (including giving effect to any 

  
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increase in such dividend prior to the Commitment Date), (iii) ordinary course share buybacks consummated to eliminate the dilutive effect of stock options and other share-based compensation
programs and (iv) pursuant to any director or employee stock ownership plan or any other employee compensation plan. 
 (f)
Acquisitions. Commencing on the Closing Date, other than the Merger, the Borrower shall not, nor shall it permit any of its Subsidiaries to, (a) acquire (by merger, joint venture or otherwise) all or a majority of the equity interests
(with ordinary voting power), or all or substantially all of the property, assets or business, or any property or assets constituting a business unit, line of business or division of any other Person or (b) make investments in any other Person
(other than the Borrower and its Subsidiaries) by acquiring less than a majority of the equity interests (with ordinary voting power) of such Person if the consideration paid in respect of all such acquisitions or investments (excluding (x) any
investments made in connection with the Borrower’s and any Subsidiary’s normal cash management activities and (y) any acquisitions or investments contractually committed to by the Borrower or any Subsidiary prior to the Commitment
Date) since the Effective Date would exceed $50,000,000 in the aggregate. 
 (g) Designated Subsidiary Borrowings. The
Borrower shall not permit any Designated Subsidiary (as defined in the Existing Credit Agreement) to borrow any amounts under the Existing Credit Agreement without the consent of the Required Lenders. 

Section 5.03. Financial Covenant. So long as any Advance shall remain unpaid or any Lender shall have any Commitment
hereunder, the Borrower will maintain a ratio of Debt of the Borrower and its Subsidiaries on a Consolidated basis to Consolidated EBITDA of the Borrower and its Subsidiaries for any four consecutive fiscal quarters of the Borrower (taken as one
accounting period), of not greater than 3.50 to 1. 
 ARTICLE 6 

EVENTS OF DEFAULT 
 Section 6.01. Events of Default. If any of the following events (“Events of Default”) shall occur and be continuing: 

(a) Failure to Make Payments. The Borrower shall (i) default in the payment when due of any principal of the Advances, and
such default shall continue unremedied for one or more Business Days or (ii) default, and such default shall continue unremedied for ten or more days, in the payment when due of any interest on the Advances or (iii) default, and such
default shall continue unremedied for 30 or more days from the date of notice of such default, in the payment when due of any fees or any other amounts owing hereunder; or 
 (b) Breach of Representation or Warranty. Any representation or warranty made by the Borrower in any certificate or statement delivered pursuant hereto or thereto shall prove to be false or
misleading in any material respect on the date as of which made or deemed made; or 
 (c) Breach of Covenants. The
Borrower shall fail to perform or observe any agreement, covenant or obligation arising under this Agreement (except those described in 

  
 46 

 
subsections (a) or (b) above), and, if capable of being remedied, such failure shall remain unremedied for 30 days after written notice thereof shall have been given to the Borrower by
the Agent; provided that there shall be deducted from such number of days any grace period utilized by the Borrower in notifying the Agent of such Default pursuant to Section 5.01(a)(iv); or 

(d) Default Under Other Agreements. The Borrower or any of its Subsidiaries shall default in the payment when due (whether by
scheduled maturity, required prepayment, acceleration, demand or otherwise) of any amount owing in respect of any Indebtedness in the principal amount of $50,000,000 or more and such default shall continue beyond any applicable grace period; or the
Borrower or any of its Subsidiaries shall default in the performance or observance of any obligation or condition with respect to any Indebtedness or any other event shall occur or condition exist, if the effect of such default, event or condition
is to accelerate the maturity of any such Indebtedness or to permit the holder or holders thereof, or any trustee or agent for such holders, to accelerate the maturity of any such Indebtedness, unless, in each case, waived by such holder or holders,
or any such Indebtedness shall become or be declared to be due and payable prior to its stated maturity other than as a result of a regularly scheduled payment, and the principal amount of such Indebtedness exceeds $50,000,000; or 

(e) Bankruptcy, etc. (i) The Borrower, any other Borrower or any Material Subsidiary shall commence a voluntary case
concerning itself under the Bankruptcy Code; or (ii) an involuntary case is commenced against the Borrower or any Material Subsidiary and the petition is not controverted within 30 days, or is not dismissed within 60 days, after commencement of
the case; or (iii) a custodian (as defined in the Bankruptcy Code) is appointed for, or takes charge of, all or substantially all of the property of the Borrower or any Material Subsidiary or the Borrower or any Material Subsidiary commences
any other proceedings under any reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or hereafter in effect relating to the Borrower or any Material
Subsidiary or there is commenced against the Borrower or any Material Subsidiary any such proceeding which remains undismissed for a period of 60 days; or (iv) any order of relief or other order approving any such case or proceeding is entered;
or (v) the Borrower or any Material Subsidiary is adjudicated insolvent or bankrupt; or (vi) the Borrower or any Material Subsidiary suffers any appointment of any custodian or the like for it or any substantial part of its property to
continue undischarged or unstayed for a period of 60 days; or (vii) the Borrower or any Material Subsidiary makes a general assignment for the benefit of creditors; or (viii) the Borrower or any Material Subsidiary shall fail to pay, or
shall state that it is unable to pay, or shall be unable to pay, its debts generally as they become due; or (ix) the Borrower or any Material Subsidiary shall by any act or failure to act consent to, approve of or acquiesce in any of the
foregoing; or (x) any corporate action is taken by the Borrower or any Material Subsidiary for the purpose of effecting any of the foregoing; or 
 (f) ERISA. The Borrower or any member of its ERISA Controlled Group shall fail to pay when due an amount or amounts aggregating in excess of $50,000,000 for which it shall have become liable under
Title IV of ERISA; or notice of intent to terminate a Plan or Plans having aggregate Unfunded Benefit Liabilities in excess of $100,000,000 shall be filed under Title IV of ERISA by the Borrower or any member of its ERISA Controlled Group, any plan
administrator or any combination of the foregoing; or the PBGC shall institute proceedings under Title IV of ERISA to terminate, to impose liability (other than for premiums under Section 4007

  
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of ERISA) in respect of, or to cause a trustee to be appointed to administer, any Plan or Plans having aggregate Unfunded Benefit Liabilities in excess of $100,000,000 or a condition shall exist
by reason of which the PBGC would be entitled to obtain a decree adjudicating that any Plan or Plans having aggregate Unfunded Benefit Liabilities in excess of $100,000,00 must be terminated; or there shall occur a complete or partial withdrawal
from, or a default within the meaning of Section 4219(c)(5) of ERISA with respect to, one or more Multiemployer Plans which could cause the Borrower or one or more members of the ERISA Controlled Group to incur a current payment obligation in
excess of $50,000,000 if not paid when due; or 
 (g) Judgments. One or more judgments or decrees in an aggregate amount
of $50,000,000 or more shall be entered by a court against the Borrower or any of its Subsidiaries and (i) any such judgments or decrees shall not be stayed, discharged, paid, bonded or vacated within 30 days or (ii) enforcement
proceedings shall be commenced by any creditor on any such judgments or decrees; provided, however, that any such judgment or order shall not be an Event of Default under this Section 6.01(g) if and for so long as (i) the
amount of such judgment or order is covered by a valid and binding policy of insurance, with deductible or self-insured retention consistent with industry practices, between the defendant and the insurer covering payment thereof and (ii) such
insurer, which shall be rated at least “A-” by A.M. Best Company, has been notified of, and has not disputed the claim made for payment of, the amount of such judgment or order; or 

(h) Change in Control. At any time on or after the Effective Date a Change in Control shall have occurred; 

then, and in any such event, from the Closing Date the Agent shall at the request, or may with the consent, of the Required Lenders, by written notice to
the Borrower, declare the Advances, all interest thereon and all other amounts payable under this Bridge Agreement to be forthwith due and payable, whereupon the Advances, all such interest and all such amounts shall become and be forthwith due and
payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Borrower; provided, however, that in the event of an actual or deemed entry of an order for relief with
respect to the Borrower under the Bankruptcy Code, (A) the obligation of each Lender to make Advances shall automatically be terminated and (B) the Advances, all such interest and all such amounts shall automatically become and be due and
payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by the Borrower. 
 Section 6.02. Preservation of Remedies. The parties hereto agree that the delivery by the Borrower of any Closing Date Schedule shall not be construed as a waiver of any Event of Default that
may arise under Section 6.01 or any right or remedy of the Agent or the Lenders provided for herein. 
 ARTICLE 7

 THE AGENT 
 Section 7.01. Appointment and Authority. Each of the Lenders hereby irrevocably appoints Citibank to act on its behalf as the Agent hereunder and authorizes the Agent to take such actions on
its behalf and to exercise such powers as are delegated to the Agent by the terms 

  
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hereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Agent and the Lenders, and the Borrower shall
not have rights as a third-party beneficiary of any of such provisions. It is understood and agreed that the use of the term “agent” herein (or any other similar term) with reference to the Agent is not intended to connote any fiduciary or
other implied (or express) obligations arising under agency doctrine of any applicable law. Instead such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties.

 Section 7.02. Rights as a Lender. The Person serving as the Agent hereunder shall have the same rights and powers
in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Agent, and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires,
include the Person serving as the Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for, and
generally engage in any kind of business with, the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Agent hereunder and without any duty to account therefor to the Lenders. 

Section 7.03. Exculpatory Provisions. (a) The Agent shall not have any duties or obligations except those expressly set
forth herein, and its duties hereunder shall be administrative in nature. Without limiting the generality of the foregoing, the Agent: 
 (i) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing; 

(ii) shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary
rights and powers expressly contemplated hereby that the Agent is required to exercise as directed in writing by the Required Lenders; provided that the Agent shall not be required to take any action that, in its opinion or the opinion of its
counsel, may expose the Agent to liability or that is contrary to this Bridge Agreement or applicable law; and 

(iii) shall not, except as expressly set forth herein, have any duty to disclose, and shall not be liable for the failure
to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Agent or any of its Affiliates in any capacity. 

(b) The Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required
Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Agent shall believe in good faith shall be necessary, under the circumstances as provided in Section 8.01 and Article 6), or (ii) in the absence of
its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment. The Agent shall be deemed not to have knowledge of any Default unless and until notice describing such Default is
given to the Agent in writing by a Borrower or a Lender. 

  
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 (c) The Agent shall not be responsible for or have any duty to ascertain or inquire into
(i) any statement, warranty or representation made in or in connection with this Bridge Agreement, (ii) the contents of any certificate, report or other document delivered hereunder or in connection herewith, (iii) the performance or
observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Bridge Agreement or any other
agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article 3 or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Agent. 

Section 7.04. Reliance by Agent. The Agent shall be entitled to rely upon, and shall not incur any liability for relying
upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed,
sent or otherwise authenticated by the proper Person. The Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In
determining compliance with any condition hereunder to the making of an Advance, that by its terms must be fulfilled to the satisfaction of a Lender, the Agent may presume that such condition is satisfactory to such Lender unless the Agent shall
have received notice to the contrary from such Lender prior to the making of such Advance. The Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be
liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

Section 7.05. Indemnification. (a) Each Lender severally agrees to indemnify the Agent (to the extent not promptly
reimbursed by the Borrower), from and against such Lender’s Ratable Share of any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever that may
be imposed on, incurred by, or asserted against the Agent in any way relating to or arising out of this Bridge Agreement or any action taken or omitted by the Agent under this Bridge Agreement (collectively, the “Indemnified
Costs”), provided that no Lender shall be liable for any portion of the Indemnified Costs resulting from the Agent’s gross negligence or willful misconduct. Without limitation of the foregoing, each Lender agrees to reimburse
the Agent promptly upon demand for its Ratable Share of any out-of-pocket expenses (including reasonable counsel fees) incurred by the Agent in connection with the preparation, execution, delivery, administration, modification, amendment or
enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Bridge Agreement, to the extent that the Agent is not reimbursed for such expenses by the Borrower.
In the case of any investigation, litigation or proceeding giving rise to any Indemnified Costs, this Section 7.05 applies whether any such investigation, litigation or proceeding is brought by the Agent, any Lender or a third party.

 (b) The failure of any Lender to reimburse the Agent promptly upon demand for its Ratable Share of any amount required to be
paid by the Lenders to the Agent as provided herein shall not relieve any other Lender of its obligation hereunder to reimburse the Agent for its Ratable Share of such amount, but no Lender shall be responsible for the failure of any other

  
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Lender to reimburse the Agent for such other Lender’s Ratable Share of such amount. Without prejudice to the survival of any other agreement of any Lender hereunder, the agreement and
obligations of each Lender contained in this Section 7.05 shall survive the payment in full of principal, interest and all other amounts payable hereunder and under the Notes. The Agent agrees to return to the Lenders their respective Ratable
Shares of any amounts paid under this Section 7.05 that are subsequently reimbursed by the Borrower. 

Section 7.06. Delegation of Duties. The Agent may perform any and all of its duties and exercise its rights and powers
hereunder by or through any one or more sub-agents appointed by the Agent. The Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory
provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the Commitments as well as activities
as Agent. The Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and nonappealable judgment that the Agent acted with gross negligence
or willful misconduct in the selection of such sub-agents. 
 Section 7.07. Resignation of Agent. (a) The Agent
may at any time give notice of its resignation to the Lenders and the Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor, which shall be a
bank with an office in the United States, or an Affiliate of any such bank with an office in the United States. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after
the retiring Agent gives notice of its resignation (or such earlier day as shall be agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Agent may (but shall not be obligated to), on behalf of the
Lenders, appoint a successor Agent meeting the qualifications set forth above. Whether or not a successor has been appointed, such resignation shall become effective in accordance with such notice on the Resignation Effective Date. 

(b) If the Person serving as Agent is a Defaulting Lender pursuant to clause (v) of the definition thereof, the Required Lenders
may, to the extent permitted by applicable law, by notice in writing to the Borrower and such Person remove such Person as Agent and, in consultation with the Borrower, appoint a successor. If no such successor shall have been so appointed by the
Required Lenders and shall have accepted such appointment within 30 days (or such earlier day as shall be agreed by the Required Lenders) (the “Removal Effective Date”), then such removal shall nonetheless become effective in accordance
with such notice on the Removal Effective Date. 
 (c) With effect from the Resignation Effective Date or the Removal Effective
Date (as applicable) (1) the retiring or removed Agent shall be discharged from its duties and obligations hereunder (except that in the case of any collateral security held by the Agent on behalf of the Lenders, the retiring or removed Agent
shall continue to hold such collateral security until such time as a successor Agent is appointed) and (2) all payments, communications and determinations provided to be made by, to or through the Agent shall instead be made by or to each
Lender directly, until such time, if any, as the Required Lenders appoint a successor Agent as provided for above. Upon the acceptance of a successor’s appointment as Agent 

  
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hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring or removed Agent, and the retiring or removed Agent shall be
discharged from all of its duties and obligations hereunder. The fees payable by the Borrower to a successor Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the
retiring or removed Agent’s resignation or removal hereunder, the provisions of this Article and Section 8.04 shall continue in effect for the benefit of such retiring or removed Agent, its sub-agents and their respective Related Parties
in respect of any actions taken or omitted to be taken by any of them while the retiring or removed Agent was acting as Agent. 

Section 7.08. Non-Reliance on Agent and Other Lenders. Each Lender acknowledges that it has, independently and without
reliance upon the Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Bridge Agreement. Each Lender also
acknowledges that it will, independently and without reliance upon the Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own
decisions in taking or not taking action under or based upon this Bridge Agreement or any related agreement or any document furnished hereunder. 
 Section 7.09. Other Agents. Each Lender hereby acknowledges that no syndication agent and no documentation agent nor any other Lender designated as any “Agent” (other than the Agent)
on the signature pages or the cover hereof has any obligation, responsibility or liability hereunder other than in its capacity as a Lender. 
 ARTICLE 8 
 MISCELLANEOUS 

Section 8.01. Amendments, Etc. No amendment or waiver of any provision of this Bridge Agreement or the Notes, nor consent to
any departure by the Borrower therefrom, shall in any event be effective unless the same shall be in writing and signed by the Required Lenders, and then such waiver or consent shall be effective only in the specific instance and for the specific
purpose for which given; provided, however, that no amendment, waiver or consent shall, unless in writing and signed by all the Lenders affected thereby, do any of the following: (a) waive any of the conditions specified in
Section 3.01 or 3.02, (b) increase or extend the Commitments of the Lenders or subject the Lenders to any additional obligations, (c) reduce the principal of, or interest on, the Advances or any fees or other amounts payable
hereunder, (d) postpone any date fixed for any payment of principal of, or interest on, the Advances or any fees or other amounts payable hereunder, (e) change the percentage of the Commitments or of the aggregate unpaid principal amount
of the Advances, or the number of Lenders, that shall be required for the Lenders or any of them to take any action hereunder, or (f) amend this Section 8.01; and provided further that (x) no amendment, waiver or consent
shall, unless in writing and signed by the Agent in addition to the Lenders required above to take such action, affect the rights or duties of the Agent under this Bridge Agreement or any Note and (y) no amendment or waiver of, or consent with
respect to, Section 8.07(g) shall, unless in writing and signed by each Lender that has granted a funding option to an SPC in addition to the Lenders required above to take such action, affect the rights or duties of such Lender or SPC under
this Bridge Agreement or any Note. 

  
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 Section 8.02. Notices, Etc. (a) Notices Generally. Except in the
case of notices and other communications expressly permitted to be given by telephone (and except as provided in paragraph (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand
or overnight courier service, mailed by certified or registered mail or sent by facsimile as follows: 
 (i) if
to the Borrower, to it at 100 North Eastman Road, Kingsport, Tennessee 37662, Attention of Treasurer (Facsimile No. 423-224-0165; Telephone No. 423-229-2000); 

(ii) if to the Agent, to Citibank, N.A. at 1615 Brett Road, Building #3, New Castle, Delaware 19720, Attention of Bank
Loan Syndications; (Facsimile No. (212) 994-0961; Telephone No. (302) 894-6010); and 
 (iii) if to a
Lender, to it at its address (or facsimile number) set forth in its Administrative Questionnaire. 
 Notices sent by hand or overnight courier
service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices sent by facsimile shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient,
shall be deemed to have been given at the opening of business on the next business day for the recipient). Notices delivered through electronic communications, to the extent provided in paragraph (b) below, shall be effective as provided in
said paragraph (b). 
 (b) Electronic Communications. Notices and other communications to the Lenders hereunder may be
delivered or furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Agent, provided that the foregoing shall not apply to notices to any Lender pursuant to Article 2
if such Lender has notified the Agent that it is incapable of receiving notices under such Article by electronic communication. The Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by
electronic communications pursuant to procedures approved by it; provided that approval of such procedures may be limited to particular notices or communications. 
 Unless the Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended
recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon
the deemed receipt by the intended recipient, at its e-mail address as described in the foregoing clause (i), of notification that such notice or communication is available and identifying the website address therefor; provided that, for both
clauses (i) and (ii) above, if such notice, email or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next
business day for the recipient. 

  
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 (c) Change of Address, etc. Any party hereto may change its address or facsimile
number for notices and other communications hereunder by notice to the other parties hereto. 
 (d) Platform. 

(i) The Borrower agrees that the Agent may, but shall not be obligated to, make the Communications (as defined below)
available to the Lenders by posting the Communications on DebtDomain, Intralinks, Syndtrak or a substantially similar electronic transmission system (the “Platform”). 

(ii) The Platform is provided “as is” and “as available.” The Agent Parties (as defined below) do not
warrant the adequacy of the Platform and expressly disclaim liability for errors or omissions in the Communications. No warranty of any kind, express, implied or statutory, including, without limitation, any warranty of merchantability, fitness for
a particular purpose, non-infringement of third-party rights or freedom from viruses or other code defects, is made by any Agent Party in connection with the Communications or the Platform. In no event shall the Agent or any of its Related Parties
(collectively, the “Agent Parties”) have any liability to the Borrower, any Lender or any other Person or entity for damages of any kind, including, without limitation, direct or indirect, special, incidental or consequential
damages, losses or expenses (whether in tort, contract or otherwise) arising out of the Borrower’s or the Agent’s transmission of communications through the Platform. “Communications” means, collectively, any notice,
demand, communication, information, document or other material that the Borrower provides to the Agent pursuant to this Bridge Agreement or the transactions contemplated therein which is distributed by the Agent to any Lender by means of electronic
communications pursuant to this Section, including through the Platform. 
 Section 8.03. No Waiver; Remedies. No
failure on the part of any Lender or the Agent to exercise, and no delay in exercising, any right hereunder or under any Note shall operate as a waiver thereof; nor shall any single or partial exercise of any such right preclude any other or further
exercise thereof or the exercise of any other right. The remedies herein provided are cumulative and not exclusive of any remedies provided by law. 
 Section 8.04. Costs and Expenses. (a) The Borrower agrees to pay promptly following demand all reasonable out-of-pocket costs and expenses of the Agent in connection with the preparation,
execution, delivery, administration, modification and amendment of this Bridge Agreement, the Notes and the other documents to be delivered hereunder, including, without limitation, (A) all reasonable due diligence, syndication (including
printing, distribution and bank meetings), transportation, computer, duplication, appraisal, consultant, and audit expenses and (B) the reasonable fees and expenses of counsel for the Agent with respect thereto and with respect to advising the
Agent as to its rights and responsibilities under this Bridge Agreement. The Borrower further agrees to pay on demand all costs and expenses of the Agent and the Lenders, if any (including, without limitation, reasonable counsel fees and expenses),
in connection with the enforcement (whether through negotiations, legal proceedings or otherwise) of this Bridge Agreement, the Notes and the other documents to be delivered hereunder, including, without limitation, reasonable fees and expenses of
counsel for the Agent and each Lender in connection with the enforcement of rights under this Section 8.04(a). 

  
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 (b) The Borrower agrees to indemnify and hold harmless the Agent and each Lender and each of
their Affiliates and their officers, directors, employees, agents, partners and advisors (each, an “Indemnified Party”) from and against any and all claims, damages, losses, liabilities and expenses (including, without limitation,
reasonable fees and expenses of counsel) incurred by or asserted or awarded against any Indemnified Party, in each case arising out of or in connection with or by reason of (including, without limitation, in connection with any investigation,
litigation or proceeding or preparation of a defense in connection therewith) (i) the Notes, this Bridge Agreement, the Transactions and any of the other transactions contemplated herein or the actual or proposed use of the proceeds of the
Advances or (ii) the actual or alleged presence of Hazardous Materials on any property of the Borrower or any of its Subsidiaries or any Environmental Action relating in any way to the Borrower or any of its Subsidiaries, except in each case to
the extent such claim, damage, loss, liability or expense is found in a final, nonappealable judgment by a court of competent jurisdiction to have resulted from such Indemnified Party’s gross negligence or willful misconduct. In the case of an
investigation, litigation or other proceeding to which the indemnity in this Section 8.04(b) applies, such indemnity shall be effective whether or not such investigation, litigation or proceeding is brought by the Borrower, its directors,
shareholders or creditors or an Indemnified Party or any other Person or any Indemnified Party is otherwise a party thereto and whether or not the transactions contemplated hereby are consummated. The Borrower also agrees not to assert any claim for
special, indirect, consequential or punitive damages against the Agent, any Lender, any of their Affiliates, or any of their respective directors, officers, employees, attorneys and agents, on any theory of liability, arising out of or otherwise
relating to the Notes, this Bridge Agreement, any of the transactions contemplated herein or the actual or proposed use of the proceeds of the Advances. 
 (c) If any payment of principal of, or Conversion of, any Eurodollar Rate Advance is made by the Borrower to or for the account of a Lender other than on the last day of the Interest Period for such
Advance, as a result of a payment or Conversion pursuant to Section 2.07(d) or (e), 2.09 or 2.11, acceleration of the maturity of the Notes pursuant to Section 6.01 or for any other reason, or by an Eligible Assignee to a Lender other than
on the last day of the Interest Period for such Advance upon an assignment of rights and obligations under this Bridge Agreement pursuant to Section 8.07 as a result of a demand by the Borrower pursuant to Section 2.17(b), the Borrower
shall, upon demand by such Lender (with a copy of such demand to the Agent), pay to the Agent for the account of such Lender any amounts required to compensate such Lender for any additional losses, costs or expenses that it may reasonably incur as
a result of such payment or Conversion, including, without limitation, any loss (including loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by any Lender to fund
or maintain such Advance. A certificate as to the amount of such compensation, submitted to the Borrower and the Agent by such Lender, shall be conclusive and binding for all purposes, absent manifest error. 

(d) Without prejudice to the survival of any other agreement of the Borrower hereunder, the agreements and obligations of the Borrower
contained in Sections 2.10, 2.13 and 8.04 shall survive the payment in full of principal, interest and all other amounts payable hereunder and under the Notes. 

  
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 Section 8.05. Right of Set-off. Upon (i) the occurrence and during the
continuance of any Event of Default and (ii) the making of the request or the granting of the consent specified by Section 6.01 to authorize the Agent to declare the Notes due and payable pursuant to the provisions of Section 6.01,
each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time
held and other indebtedness at any time owing by such Lender or such Affiliate to or for the credit or the account of the Borrower or the Borrower against any and all of the obligations of the Borrower or the Borrower now or hereafter existing under
this Bridge Agreement and the Note held by such Lender, whether or not such Lender shall have made any demand under this Bridge Agreement or such Note and although such obligations may be unmatured. Each Lender agrees promptly to notify the
applicable Borrower after any such set-off and application, provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of each Lender and its Affiliates under this Section are in
addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender and its Affiliates may have. 
 Section 8.06. Binding Effect. Subject to Section 3.01, this Bridge Agreement shall become effective when it shall have been executed by the Borrower, the Agent and the Initial Lenders and
thereafter shall be binding upon and inure to the benefit of the Borrower, the Agent and each Lender and their respective successors and assigns, except that the Borrower shall not have the right to assign its rights hereunder or any interest herein
without the prior written consent of all of the Lenders (and any other attempted assignment or transfer by any party hereto shall be null and void). 
 Section 8.07. Assignments and Participations. (a) Successors and Assigns Generally. No Lender may assign or otherwise transfer any of its rights or obligations hereunder except
(i) to an assignee in accordance with the provisions of paragraph (b) of this Section, (ii) by way of participation in accordance with the provisions of paragraph (d) of this Section, or (iii) by way of pledge or assignment
of a security interest subject to the restrictions of paragraph (f) of this Section (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Bridge Agreement, expressed or implied, shall be
construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in paragraph (d) of this Section and, to the extent expressly contemplated hereby,
the Related Parties of each of the Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Bridge Agreement. 
 (b) Assignments by Lenders. Any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations under this Bridge Agreement (including all or a portion of its
Commitment or the Advances at the time owing to it); provided that any such assignment shall be subject to the following conditions: 
 (i) Minimum Amounts. 
 (A) in the case of an assignment of the
entire remaining amount of the assigning Lender’s Commitment or the Advances at the time owing to it or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and 

  
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 (B) in any case not described in paragraph (b)(i)(A) of this Section, the
aggregate amount of the Commitment or the principal outstanding balance of the Advances of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is delivered to
the Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date) shall not be less than $10,000,000 unless each of the Agent and, so long as no Event of Default has occurred and is continuing, the
Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed). 
 (ii)
Proportionate Amounts. Each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Bridge Agreement with respect to the Advance or the Commitment
assigned. 
 (iii) Required Consents. No consent shall be required for any assignment except to the extent
required by paragraph (b)(i)(B) of this Section and, in addition: 
 (A) prior to the Closing Date, the consent
of the Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless (x) an Event of Default has occurred and is continuing at the time of such assignment, or (y) such assignment is to an Approved Lender, a
Lender, an Affiliate of a Lender, or an Approved Fund; provided that the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Agent within five Business Days after having
received notice thereof; 
 (B) on or after the Closing Date, the consent of the Borrower shall not be required,
provided that any assigning Lender shall consult the Borrower prior to any assignment; and 
 (C) the
consent of the Agent (such consent not to be unreasonably withheld or delayed) shall be required for all assignments if such assignment is to a Person that is not an Approved Lender, a Lender, an Affiliate of such Lender or an Approved Fund with
respect to such Lender. 
 (iv) Assignment and Assumption. The parties to each assignment shall execute
and deliver to the Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500; provided that the Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any
assignment. The assignee, if it is not a Lender, shall deliver to the Agent an Administrative Questionnaire. 

  
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 (v) No Assignment to Certain Persons. No such assignment shall be
made to the Borrower or any of the Borrower’s Affiliates or Subsidiaries. 
 (vi) No Assignment to
Natural Persons. No such assignment shall be made to a natural Person. 
 Subject to acceptance and recording thereof by the Agent pursuant
to paragraph (c) of this Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Bridge Agreement and, to the extent of the interest assigned by such Assignment
and Assumption, have the rights and obligations of a Lender under this Bridge Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this
Bridge Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Bridge Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the
benefits of Sections 2.11 and 8.04 with respect to facts and circumstances occurring prior to the effective date of such assignment. Any assignment or transfer by a Lender of rights or obligations under this Bridge Agreement that does not comply
with this paragraph shall be treated for purposes of this Bridge Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (d) of this Section. 

(c) Register. The Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at one of its offices in the
United States a copy of each Assignment and Assumption delivered to it and a register for the recordation of (and shall record in such register) the names and addresses of the Lenders, and the Commitments of, and principal amounts (and stated
interest) of the Advances owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Agent and the Lenders
shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Bridge Agreement. The Register shall be available for inspection by the Borrower and any Lender, at any
reasonable time and from time to time upon reasonable prior notice. 
 (d) Participations. Any Lender may at any time,
without the consent of, or notice to, the Borrower or the Agent, sell participations to any Person (other than a natural Person or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all
or a portion of such Lender’s rights and/or obligations under this Bridge Agreement (including all or a portion of its Commitment and/or the Advances owing to it); provided that (i) such Lender’s obligations under this Bridge
Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, and (iii) the Borrower, the Agent and Lenders shall continue to deal solely and
directly with such Lender in connection with such Lender’s rights and obligations under this Bridge Agreement. For the avoidance of doubt, each Lender shall be responsible for the indemnity under Section 7.05 with respect to any payments
made by such Lender to its Participant(s). 
 Any agreement or instrument pursuant to which a Lender sells such a participation
shall provide that such Lender shall retain the sole right to enforce this Bridge Agreement and to approve any amendment, modification or waiver of any provision of this Bridge Agreement; 

  
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provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the
proviso to Section 8.01 that affects such Participant. The Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.10 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant
to paragraph (b) of this Section; provided that such Participant agrees to be subject to the provisions of Section 2.17 as if it were an assignee under paragraph (b) of this Section. To the extent permitted by law, each
Participant also shall be entitled to the benefits of Section 7.05 as though it were a Lender; provided that such Participant agrees to be subject to Section 2.13 as though it were a Lender. 

Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use reasonable efforts to cooperate with
the Borrower to effectuate the provisions of Section 2.17 with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 8.05 as though it were a Lender; provided
that such Participant agrees to be subject to Section 2.14 as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters
the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Advances or other obligations under the Loan Documents (the “Participant Register”); provided
that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans or its other
obligations under this Bridge Agreement) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan or other obligation is in registered form under Section 5f.103-1(c) of the United States
Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes
of this Bridge Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Agent (in its capacity as Agent) shall have no responsibility for maintaining a Participant Register 

(e) Limitations upon Participant Rights. A Participant shall not be entitled to receive any greater payment under Sections 2.10 or
2.13 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written consent. A
Participant that is organized under the laws of a jurisdiction outside of the United States shall not be entitled to the benefits of Section 2.13 unless the Borrower is notified of the participation sold to such Participant and such Participant
agrees, for the benefit of the Borrower, to comply with Section 2.13(e) as though it were a Lender. 
 (f) Certain
Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Bridge Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal
Reserve Bank or other central banking authority having jurisdiction over such lender; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for
such Lender as a party hereto. 

  
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 (g) Each Lender may grant to a special purpose funding vehicle (an “SPC”)
the option to fund all or any part of any Advance that such Lender is obligated to fund under this Bridge Agreement (and upon the exercise by such SPC of such option to fund, such Lender’s obligations with respect to such Advance shall be
deemed satisfied to the extent of any amounts funded by such SPC); provided, however, that (i) such Lender’s obligations under this Bridge Agreement (including, without limitation, its Commitment to the Borrower hereunder)
shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, (iii) the Borrower, the Agent and the other Lenders shall continue to deal solely and directly
with such Lender in connection with such Lender’s rights and obligations under this Bridge Agreement, (iv) any such option granted to an SPC shall not constitute a commitment by such SPC to fund any Advance, (v) neither the grant nor
the exercise of such option to an SPC shall increase the costs or expenses or otherwise increase or change the obligations of the Borrower under this Bridge Agreement (including, without limitation, its obligations under Section 2.13) and
(vi) no SPC shall have any right to approve any amendment or waiver of any provision of this Bridge Agreement or any Note, or any consent to any departure by the Borrower therefrom, except to the extent that such amendment, waiver or consent
would reduce the principal of, or interest on, the Notes or any fees or other amounts payable hereunder, in each case to the extent subject to such grant of funding option, or postpone any date fixed for any payment of principal of, or interest on,
the Notes or any fees or other amounts payable hereunder, in each case to the extent subject to such grant of funding option. Each party to this Bridge Agreement hereby agrees that no SPC shall be liable for any indemnity or payment under this
Bridge Agreement for which a Lender would otherwise be liable. In furtherance of the foregoing, each party hereto hereby agrees (which agreements shall survive the termination of this Bridge Agreement) that, prior to the date that is one year and
one day after the payment in full of all outstanding commercial paper or other senior indebtedness of any SPC, it will not institute against, or join any other Person in instituting against, such SPC any bankruptcy, reorganization, arrangement,
insolvency or liquidation proceedings under the laws of the United States or any State thereof. 
 Section 8.08.
Confidentiality. Each of the Agent and the Lenders agree to maintain the confidentiality of the Confidential Information (as defined below), except that Confidential Information may be disclosed on a confidential basis (a) to its Affiliates
and to its Related Parties (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Confidential Information and instructed to keep such information confidential); (b) to the
extent required or requested by any regulatory authority purporting to have jurisdiction over such Person or its Related Parties (including any self-regulatory authority, such as the National Association of Insurance Commissioners); (c) to the
extent required by applicable laws or regulations or by any subpoena or similar legal process; (d) to any other party hereto; (e) in connection with the exercise of any remedies hereunder or any action or proceeding relating to this Bridge
Agreement or the enforcement of rights hereunder; (f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant
in, any of its rights and obligations under this Bridge Agreement, or (ii) any actual or prospective party (or its Related Parties) to any swap, derivative or other transaction under which payments are to be made by reference to the Borrower
and its obligations, this Bridge Agreement or payments hereunder and credit insurers; (g) on a confidential basis to (i) any rating agency in connection with rating the Borrower or its Subsidiaries or this Bridge Agreement or (ii) the
CUSIP Service 

  
 60 

 
Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers with respect to this Bridge Agreement; (h) with the consent of the Borrower; or (i) to the
extent such Confidential Information (x) becomes available to the Agent, any Lender or any of their respective Affiliates on a nonconfidential basis from a source other than the Borrower or (y) becomes publicly available other than as a
result of a breach of confidentiality obligations known to the Agent, such Lender. 
 For purposes of this Section,
“Confidential Information” means all information received from the Borrower or any of its Subsidiaries relating to the Borrower or any of its Subsidiaries or any of their respective businesses, other than any such information that
is available to the Agent, any Lender on a nonconfidential basis prior to disclosure by the Borrower or any of its Subsidiaries; provided that, in the case of information received from the Borrower or any of its Subsidiaries after the date
hereof, such information is clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Confidential Information as provided in this Section shall be considered to have complied with its
obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Confidential Information as such Person would accord to its own confidential information. 

Section 8.09. Governing Law. This Bridge Agreement and the Notes and any claim, controversy and dispute arising hereunder or
thereunder, or with respect hereto or thereto, shall be governed by, and construed in accordance with, the laws of the State of New York, provided that the definition of “Acquired Business Material Adverse Effect” shall be governed by
and construed in accordance with the laws of the State of Delaware. 
 Section 8.10. Execution in Counterparts. This
Bridge Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the
same agreement. Delivery of an executed counterpart of a signature page to this Bridge Agreement by telecopier or by e-mail transmission of an electronic file in Adobe Corporation’s Portable Document Format or PDF file shall be effective as
delivery of a manually executed counterpart of this Bridge Agreement. 
 Section 8.11. Jurisdiction, Etc.
(a) Each of the parties hereto irrevocably and unconditionally agrees that it will not commence any action, litigation or proceeding of any kind or description, whether in law or equity, whether in contract or in tort or otherwise, against
the Agent, any Lender or any Related Party of the foregoing in any way relating to this Bridge Agreement or any Note or the Transactions or other transactions relating hereto or thereto, in any forum other than 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, and each of the parties hereto irrevocably and unconditionally submits to the jurisdiction of such
courts and agrees that all claims in respect of any such action, litigation 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 of the parties
hereto agrees that a final judgment in any such action, litigation 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 Bridge Agreement or in
any Note shall affect any right that the Agent or any Lender or may otherwise have to bring any action or proceeding relating to this Bridge Agreement or any Note 

  
 61 

 
against the Borrower or its properties in the courts of any jurisdiction. The Borrower hereby further irrevocably consents to the service of process in any action or proceeding in such courts by
the mailing thereof by any parties hereto by registered or certified mail, postage prepaid, to the Borrower at its address specified pursuant to Section 8.02. Each of the parties hereto agrees that a final judgment in any such action or
proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Bridge Agreement shall affect any right that any party may otherwise have to bring any action
or proceeding relating to this Bridge Agreement or the Notes in the courts of any jurisdiction. 
 (b) Each of the parties
hereto irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this
Bridge Agreement or the Notes in any New York State or federal court. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or
proceeding in any such court. 
 Section 8.12. Power of Attorney. Each Subsidiary of the Borrower may from time to
time authorize and appoint the Borrower as its attorney-in-fact to execute and deliver (a) any amendment, waiver or consent in accordance with Section 8.01 on behalf of and in the name of such Subsidiary and (b) any notice or other
communication hereunder, on behalf of and in the name of such Subsidiary. Such authorization shall become effective as of the date on which such Subsidiary delivers to the Agent a power of attorney enforceable under applicable law and any additional
information to the Agent as necessary to make such power of attorney the legal, valid and binding obligation of such Subsidiary. 
 Section 8.13. Patriot Act. Each Lender hereby notifies the Borrower, each other Borrower and each other obligor or grantor (each a “Loan Party”) that pursuant to the
requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001) (the “PATRIOT Act”)), that it is required to obtain, verify and record information that identifies each Loan Party, which
information includes the name and address of each Loan Party and other information that will allow such Lender to identify each Loan Party in accordance with the Act. 
 Section 8.14. No Fiduciary Duties. The Borrower agrees that in connection with all aspects of the transactions contemplated hereby and any communications in connection therewith, the Borrower
and its Affiliates, on the one hand, and the Agent, the syndication agent, the documentation agents, the Lenders and their respective Affiliates, on the other hand, will have a business relationship that does not create, by implication or otherwise,
any fiduciary duty on the part of the Agent, the Lenders and or respective Affiliates and no such duty will be deemed to have arisen in connection with any such transactions or communications. 

Section 8.15. Waiver of Jury Trial. The Borrower, the Agent and the Lenders hereby irrevocably waives all right to trial by
jury in any action, proceeding or counterclaim (whether based on contract, tort or otherwise) arising out of or relating to this Bridge Agreement or the Notes or the actions of the Agent or any Lender in the negotiation, administration, performance
or enforcement thereof. 

  
 62 

 Section 8.16: Entire Agreement. The Loan Documents contain the entire agreement
between the parties relating to the subject matter hereof and supersede all oral statements and prior writings with respect thereto other than the Fee Letter and the Commitment Letter referred to therein. 

  
 63 

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

					
		 	EASTMAN CHEMICAL COMPANY
			
		 	By	 	 /s/ Curtis E. Espeland

		 		 	Name:  Curtis E. Espeland
		 		 	Title:    Senior Vice President and Chief              Financial Officer
		
		 	CITIBANK, N.A., as Adminstrative Agent
			
		 	By	 	 /s/ Michael Vondriska

		 		 	Name:  Michael Vondriska
		 		 	Title:    Vice President
	
	Initial Lenders
		
		 	CITIBANK, N.A., as Lender
			
		 	By	 	 /s/ Michael Vondriska

		 		 	Name:  Michael Vondriska
		 		 	Title:    Vice President
		
		 	BARCLAYS BANK PLC, as Lender
			
		 	By	 	 /s/ Anne E. Sutton

		 		 	Name:  Anne E. Sutton
		 		 	Title:    Director
		
		 	 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., as Lender

			
		 	By	 	 /s/ Alan Reiter

		 		 	Name:  Alan Reiter
		 		 	Title:    Vice President
		
		 	BANK OF AMERICA, N.A., as Lender
			
		 	By	 	 /s/ Darren Bielawski

		 		 	Name:  Darren Bielawski
		 		 	Title:    Assistant Vice President
		
		 	 SUMITOMO MITSUI BANKING CORPORATION, as Lender

			
		 	By	 	 /s/ Shuji Yabe

		 		 	Name:  Shuji Yabe
		 		 	Title:    Managing Director
		
		 	 THE ROYAL BANK OF SCOTLAND PLC, as Lender

			
		 	By	 	 /s/ Paul Chisholm

		 		 	Name:  Paul Chisholm
		 		 	Title:    Director

					
		
		 	 MORGAN STANLEY SENIOR FUNDING, INC., as Lender

			
		 	By	 	 /s/ Anish Shah

		 		 	Name:  Anish Shah
		 		 	Title:    Authorized Signatory
		
		 	 MIZUHO CORPORATE BANK, LTD., as Lender

			
		 	By	 	 /s/ Leon Mo

		 		 	Name:  Leon Mo
		 		 	Title:    Authorized Signatory
		
		 	 JPMORGAN CHASE BANK, N.A., as Lender

			
		 	By	 	 /s/ Juan J. Javellana

		 		 	Name:  Juan J. Javellana
		 		 	Title:    Executive Director
		
		 	 WELLS FARGO BANK, NATIONAL ASSOCIATION, as Lender

			
		 	By	 	 /s/ Andrew Payne

		 		 	Name:  Andrew Payne
		 		 	Title:    Director
		
		 	SUNTRUST BANK, as Lender
			
		 	By	 	 /s/ Tahra Lindsay

		 		 	Name:  Tahra Lindsay
		 		 	Title:    Vice President<![CDATA[Form of Registration Rights Agreement between MRC Global Inc. & PVF Holding LLC]]>

 Exhibit 10.3 
 REGISTRATION RIGHTS AGREEMENT 
 by and between 

PVF HOLDINGS LLC 
 and 
 MRC GLOBAL INC. 

Dated as of [•], 2012 
  

 TABLE OF CONTENTS 

 
  

											
		 		 		  	 	Page	  
				
	1.	 		 	Certain Definitions	  	 	1	  
	2.	 		 	Registration Rights	  	 	4	  
		 	2.1.	 		 	Demand Registrations	  	 	4	  
		 	2.2.	 		 	Piggyback Registrations	  	 	6	  
		 	2.3.	 		 	Allocation of Securities Included in Registration Statement	  	 	7	  
		 	2.4.	 		 	Registration Procedures	  	 	10	  
		 	2.5.	 		 	Registration Expenses	  	 	16	  
		 	2.6.	 		 	Certain Limitations on Registration Rights	  	 	16	  
		 	2.7.	 		 	Limitations on Sale or Distribution of Other Securities	  	 	16	  
		 	2.8.	 		 	No Required Sale	  	 	17	  
		 	2.9.	 		 	Indemnification	  	 	17	  
	3.	 		 	Underwritten Offerings	  	 	21	  
		 	3.1.	 		 	Requested Underwritten Offerings	  	 	21	  
		 	3.2.	 		 	Piggyback Underwritten Offerings	  	 	21	  
	4.	 		 	General	  	 	22	  
		 	4.1.	 		 	Term	  	 	22	  
		 	4.2.	 		 	Adjustments Affecting Registrable Securities	  	 	22	  
		 	4.3.	 		 	Rule 144 and Rule 144A	  	 	22	  
		 	4.4.	 		 	Nominees for Beneficial Owners	  	 	23	  
		 	4.5.	 		 	Amendments and Waivers	  	 	23	  
		 	4.6.	 		 	Notices	  	 	23	  
		 	4.7.	 		 	Successors and Assigns	  	 	24	  
		 	4.8.	 		 	Entire Agreement	  	 	25	  
		 	4.9.	 		 	Governing Law; Submission to Jurisdiction; Waiver of Jury Trial	  	 	25	  
		 	4.10.	 		 	Interpretation; Construction	  	 	26	  
		 	4.11.	 		 	Counterparts	  	 	26	  
		 	4.12.	 		 	Severability	  	 	26	  
		 	4.13.	 		 	Specific Performance	  	 	26	  
		 	4.14.	 		 	Further Assurances	  	 	26	  

 This REGISTRATION RIGHTS AGREEMENT is made as of [•], 2012, by and between MRC Global
Inc., a Delaware corporation (the “Company”), and PVF Holdings LLC, a Delaware limited liability company (“PVF”). 
 W I T N E S S E T H : 
 WHEREAS, the parties hereto wish to set forth certain rights and obligations with respect to the registration of the shares of common stock of the Company under the Securities Act; and 

WHEREAS, the parties hereto are entering into this agreement in accordance with the terms of Section 12.9(c) of the Amended and
Restated Limited Liability Company Agreement of PVF, dated as of October 31, 2007, as amended (the “LLC Agreement”). 
 NOW, THEREFORE, in consideration of the premises and of the mutual covenants and obligations hereinafter set forth, the parties hereto hereby agree as follows: 

1. Certain Definitions. As used herein, the following terms shall have the following meanings: 

“Additional Piggyback Rights” has the meaning set forth in Section 2.2(b). 

“Affiliate” means, with respect to any Person, any other Person controlling, controlled by or under common control with
such particular Person, where “control” means the possession, directly or indirectly, of the power to direct the management and policies of a Person whether through the ownership of voting securities, contract or otherwise;
provided, however, that, for purposes hereof, neither the Company nor any Person controlled by the Company shall be deemed to be an Affiliate of any Holder. 
 “Agreement” means this Registration Rights Agreement, as this agreement may be amended, modified, supplemented or restated from time to time after the date hereof. 

“automatic shelf registration statement” has the meaning set forth in Section 2.4. 

“Board” means the Board of Directors of the Company. 

“Business Day” shall mean any day ending at 11:59 p.m. (Eastern Time) other than a Saturday or Sunday or a day on which
banks are required or authorized to close in the City of New York. 
 “Claims” has the meaning set forth in
Section 2.9(a). 
 “Common Equity” means the common equity securities of the Company and any and all
securities of any kind whatsoever of the Company which may be issued after the date hereof in respect of, or in exchange for, such shares of common stock of the Company pursuant to a merger, consolidation, stock split, stock dividend or
recapitalization of the Company or otherwise. 
 “Common Equity Equivalents” means all options, warrants and
other securities 

  
 - 1 -

 
convertible into, or exchangeable or exercisable for (at any time or upon the occurrence of any event or contingency and without regard to any vesting or other conditions to which such securities
may be subject) shares of Common Equity or other equity securities of the Company (including, without limitation, any note or debt security convertible into or exchangeable for Common Equity or other equity securities of the Company). 

“Company” has the meaning set forth in the preamble. 

“Demand Exercise Notice” has the meaning set forth in Section 2.1(a)(i). 

“Demand Registration” has the meaning set forth in Section 2.1(a)(i). 

“Demand Registration Request” has the meaning set forth in Section 2.1(a)(i). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Expenses” means any and all fees and expenses incident to the Company’s performance of or compliance with Article
2, including, without limitation: (i) SEC, stock exchange or FINRA registration and filing fees and all listing fees and fees with respect to the inclusion of securities on the New York Stock Exchange or on any other securities market on
which the Common Equity is listed or quoted, (ii) fees and expenses of compliance with state securities or “blue sky” laws and in connection with the preparation of a “blue sky” survey, including, without limitation,
reasonable fees and expenses of outside “blue sky” counsel, (iii) printing and copying expenses, (iv) messenger and delivery expenses, (v) expenses incurred in connection with any road show,
(vi) fees and disbursements of counsel for the Company, (vii) with respect to each registration, the fees and disbursements of one counsel for the Participating Holder(s) (selected by the Majority Participating Holders),
(viii) fees and disbursements of all independent public accountants (including the expenses of any audit and/or “cold comfort” letter and updates thereof) and fees and expenses of other Persons, including special experts,
retained by the Company, (ix) fees and expenses payable to a Qualified Independent Underwriter, (x) any other fees and disbursements of underwriters, if any, customarily paid by issuers or sellers of securities and
(xi) expenses for securities law liability insurance and, if any, rating agency fees. 
 “FINRA”
means the Financial Industry Regulatory Authority, Inc. 
 “Holder” or “Holders” means PVF,
any Person who is a party to this Agreement or any transferee of Registrable Securities to whom any Person who is a party to this Agreement shall assign or transfer any rights hereunder, provided that such transferee has agreed in writing to
be bound by this Agreement in respect of such Registrable Securities. 
 “Initiating Holder” has the meaning
set forth in Section 2.1(a)(i). 
 “IPO” means the first underwritten public offering of the common stock
of the Company to the general public pursuant to a registration statement filed with the SEC. 
 “Litigation”
means any action, proceeding or investigation in any court or before any governmental authority. 

  
 - 2 -

 “LLC Agreement” has the meaning set forth in the Recitals. 

“Majority Participating Holders” means Participating Holders holding more than 50% of the Registrable Securities
proposed to be included in any offering of Registrable Securities by such Participating Holders pursuant to Section 2.1 or Section 2.2. 
 “Manager” has the meaning set forth in Section 2.1(c). 

“Participating Holders” means all Holders of Registrable Securities which are proposed to be included in any offering of
Registrable Securities pursuant to Section 2.1 or Section 2.2. 
 “Partner Distribution” has the
meaning set forth in Section 2.1(a)(iii). 
 “Person” means any individual, corporation (including
not-for-profit), general or limited partnership, limited liability company, joint venture, estate, trust, association, organization, governmental entity or agency or other entity of any kind or nature. 

“Piggyback Shares” has the meaning set forth in Section 2.3(a)(iii). 

“Postponement Period” has the meaning set forth in Section 2.1(b). 

“PVF” has the meaning set forth in the preamble. 

“PVF Distribution Date” means the date on which all of the shares of Common Equity held by PVF have been distributed or
otherwise transferred to the holders of equity interests in PVF. 
 “Qualified Independent Underwriter” means a
“qualified independent underwriter” within the meaning of FINRA Rule 5121. 
 “Registrable
Securities” means (a) any shares of Common Equity held by the Holders at any time (including those held as a result of the conversion or exercise of Common Equity Equivalents) and (b) any shares of Common Equity
issued or issuable, directly or indirectly in exchange for or with respect to the Common Equity referenced in clause (a) above by way of stock dividend, stock split or combination of shares or in connection with a reclassification,
recapitalization, merger, share exchange, consolidation or other reorganization. As to any particular Registrable Securities, such securities shall cease to be Registrable Securities when (A) a registration statement with respect to the
sale of such securities shall have been declared effective under the Securities Act and such securities shall have been disposed of in accordance with such registration statement, or (B) such securities shall have been sold (other than
in a privately negotiated sale) in compliance with the requirements of Rule 144 under the Securities Act, as such Rule 144 may be amended (or any successor provision thereto). 
 “Rule 144” and “Rule 144A” have the meaning set forth in Section 4.3. 
 “SEC” means the Securities and Exchange Commission. 

“Section 2.3(a) Sale Number” has the meaning set forth in Section 2.3(a). 

  
 - 3 -

 “Section 2.3(b) Sale Number” has the meaning set forth in
Section 2.3(b). 
 “Section 2.3(c) Sale Number” has the meaning set forth in Section 2.3(c).

 “Securities Act” means the Securities Act of 1933, as amended. 

“Valid Business Reason” has the meaning set forth in Section 2.1(b). 

“WKSI” has the meaning set forth in Section 2.4. 
 2. Registration Rights. 
 2.1. Demand Registrations. 

(a) (i) Subject to Sections 2.1(b) and 2.3, at any time and from time to time after the closing of the IPO, PVF shall have the right to
require the Company to file one or more registration statements under the Securities Act covering all or any part of its Registrable Securities by delivering a written request therefor to the Company specifying the number of Registrable Securities
to be included in such registration and the intended method of distribution thereof. Any such request by PVF pursuant to this Section 2.1(a)(i) is referred to herein as a “Demand Registration Request,” and the registration so
requested is referred to herein as a “Demand Registration” (with respect to any Demand Registration, PVF shall be referred to herein as the “Initiating Holder”). As promptly as practicable, but no later than five
(5) Business Days after receipt of a Demand Registration Request, the Company shall give written notice (the “Demand Exercise Notice”) of such Demand Registration Request to all other Holders of record of Registrable
Securities, if any. 
 (ii) The Company, subject to Sections 2.3 and 2.6, shall include in a Demand Registration
(x) the Registrable Securities of the Initiating Holder and (y) the Registrable Securities of any other Holder of Registrable Securities, if any, which shall have made a written request to the Company for inclusion in such
registration pursuant to Section 2.2 (which request shall specify the maximum number of Registrable Securities intended to be disposed of by such Participating Holder) within twenty (20) days after the receipt of the Demand Exercise Notice
(or fifteen (15) days if, at the request of the Initiating Holder, the Company states in such written notice or gives telephonic notice to all Holders, with written confirmation to follow promptly thereafter, that such registration will be on a
Form S-3). 
 (iii) The Company shall, as expeditiously as possible, but subject to Section 2.1(b), use its reasonable best
efforts to (x) effect such registration under the Securities Act (including, without limitation, by means of a shelf registration pursuant to Rule 415 under the Securities Act if so requested and if the Company is then eligible to use
such a registration) of the Registrable Securities which the Company has been so requested to register, for distribution in accordance with such intended method of distribution, including a distribution to, and resale by, the members or partners of
a Holder (a “Partner Distribution”) and (y) if requested by PVF, obtain acceleration of the effective date of the registration statement relating to such registration. 

  
 - 4 -

 (iv) Notwithstanding anything contained herein to the contrary, the Company shall, at the
request of any Holder seeking to effect a Partner Distribution, file any prospectus supplement or post-effective amendments and otherwise take any action necessary to include therein all disclosure and language deemed necessary or advisable by such
Holder if such disclosure or language was not included in the initial registration statement, or revise such disclosure or language if deemed necessary or advisable by such Holder, to effect such Partner Distribution. 

(b) Notwithstanding anything to the contrary in Section 2.1(a), the Demand Registration rights granted in Section 2.1(a) are
subject to the following limitations: (i) the Company shall not be required to cause a registration pursuant to Section 2.1(a)(i) to be declared effective within a period of one hundred and eighty (180) days after the effective
date of any other registration statement of the Company filed pursuant to the Securities Act; (ii) the Company shall not be required to effect more than six (6) Demand Registrations for PVF; and (iii) if the Board, in
its good faith judgment, determines that any registration of Registrable Securities should not be made or continued because it would materially interfere with any material financing, acquisition, corporate reorganization or merger or other
transaction or event involving the Company or any of its subsidiaries (a “Valid Business Reason”), then (x) the Company may postpone filing a registration statement relating to a Demand Registration Request until five
(5) Business Days after such Valid Business Reason no longer exists, but in no event for more than three (3) months after the date the Board determines a Valid Business Reason exists and (y) in case a registration statement has
been filed relating to a Demand Registration Request, if the Valid Business Reason has not resulted from actions taken by the Company, the Company may cause such registration statement to be withdrawn and its effectiveness terminated or may postpone
amending or supplementing such registration statement until five (5) Business Days after such Valid Business Reason no longer exists, but in no event for more than three (3) months after the date the Board determines a Valid Business
Reason exists (such period of postponement or withdrawal under this clause (iii), the “Postponement Period”); and the Company shall give written notice of its determination to postpone or withdraw a registration statement and of the
fact that the Valid Business Reason for such postponement or withdrawal no longer exists, in each case, promptly after the occurrence thereof; provided, however, the Company shall not be permitted to postpone or withdraw a registration
statement after the expiration of any Postponement Period until nine (9) months after the expiration of such Postponement Period. 
 If the Company shall give any notice of postponement or withdrawal of any registration statement pursuant to clause (iii) above, the Company shall not, during the period of postponement or
withdrawal, register any Common Equity, other than pursuant to a registration statement on Form S-4 or S-8 (or an equivalent registration form then in effect). Each Holder of Registrable Securities agrees that, upon receipt of any notice from the
Company that the Company has determined to withdraw any registration statement pursuant to clause (iii) above, such Holder will discontinue its disposition of Registrable Securities pursuant to such registration statement and, if so directed by
the Company, will deliver to the Company (at the Company’s expense) all copies, other than permanent file copies, then in such Holder’s possession of the prospectus covering such Registrable Securities that was in effect at the time of
receipt of such notice. If the Company shall have withdrawn or prematurely terminated a registration statement filed under Section 2.1(a)(i) (whether pursuant to clause (iii) above or as a result of any stop order, injunction or other
order or requirement of the SEC or any other governmental agency or court), the Company shall not be considered to have effected an 

  
 - 5 -

 
effective registration for the purposes of this Agreement until the Company shall have filed a new registration statement covering the Registrable Securities covered by the withdrawn registration
statement and such registration statement shall have been declared effective and shall not have been withdrawn. If the Company shall give any notice of withdrawal or postponement of a registration statement, the Company shall, not later than five
(5) Business Days after the Valid Business Reason that caused such withdrawal or postponement no longer exists (but in no event later than three (3) months after the date of the postponement or withdrawal), use its reasonable best efforts
to effect the registration under the Securities Act of the Registrable Securities covered by the withdrawn or postponed registration statement in accordance with this Section 2.1 (unless the Initiating Holder shall have withdrawn such request,
in which case the Company shall not be considered to have effected an effective registration for the purposes of this Agreement), and such registration shall not be withdrawn or postponed pursuant to clause (iii) of Section 2.1(b) above.

 (c) In connection with any Demand Registration, the Company shall have the right to designate the lead managing underwriter
(any lead managing underwriter for the purposes of this Agreement, the “Manager”) in connection with such registration and each other managing underwriter for such registration; provided that in each case, each such
underwriter is reasonably satisfactory to PVF. 
 2.2. Piggyback Registrations. 

(a) If, at any time after the IPO, the Company proposes or is required (pursuant to Section 2.1 or otherwise) to register any of its
equity securities under the Securities Act (other than pursuant to registrations on Form S-4 or Form S-8 or any similar successor forms thereto), the Company shall give prompt written notice (in any event within five (5) Business Days after
receipt of notice of any exercise of demand registration rights by any Person) of its intention to do so to each of the Holders of record of Registrable Securities. Upon the written request of any such Holder, made within twenty (20) days
following the receipt of any such written notice (or fifteen (15) days if the Company states that such registration will be on a Form S-3) (which request shall specify the maximum number of Registrable Securities intended to be disposed of by
such Holder and the intended method of distribution thereof), the Company shall, subject to Sections 2.2(c), 2.3 and 2.6 hereof, use its reasonable best efforts to cause all such Registrable Securities, the Holders of which have so requested the
registration thereof, to be registered under the Securities Act with the securities which the Company at the time proposes to register to permit the sale or other disposition by the Holders (in accordance with the intended method of distribution
thereof, which may include a Partner Distribution) of the Registrable Securities to be so registered, including, if necessary, by filing with the SEC a post-effective amendment or a supplement to the registration statement filed by the Company or
the prospectus related thereto pursuant to a Form 8-K. There is no limitation on the number of such piggyback registrations pursuant to the preceding sentence which the Company is obligated to effect. No registration of Registrable Securities
effected under this Section 2.2(a) shall relieve the Company of its obligations to effect Demand Registrations under Section 2.1 hereof. 

  
 - 6 -

 (b) The Company, subject to Sections 2.3 and 2.6, may elect to include in any registration
statement and offering pursuant to demand registration rights by any Person, (i) authorized but unissued shares of Common Equity or shares of Common Equity held by the Company as treasury shares and (ii) any other shares of
Common Equity which are requested to be included in such registration pursuant to the exercise of piggyback registration rights granted by the Company after the date hereof and which are not inconsistent with the rights granted in, or otherwise
conflict with the terms of, this Agreement (“Additional Piggyback Rights”); provided, however, that such inclusion shall be permitted only to the extent that it is pursuant to, and subject to, the terms of the
underwriting agreement or arrangements, if any, entered into by the Initiating Holder. 
 (c) If, at any time after giving
written notice of its intention to register any equity securities and prior to the effective date of the registration statement filed in connection with such registration, the Company shall determine for any reason not to register or to delay
registration of such equity securities, the Company may, at its election, give written notice of such determination to all Holders of record of Registrable Securities and (i) in the case of a determination not to register, shall be
relieved of its obligation to register any Registrable Securities in connection with such abandoned registration, without prejudice, however, to the rights of Holders under Section 2.1, and (ii) in the case of a determination to
delay such registration of its equity securities, shall be permitted to delay the registration of such Registrable Securities for the same period as the delay in registering such other equity securities. 

(d) Any Holder shall have the right to withdraw its request for inclusion of its Registrable Securities in any registration statement
pursuant to this Section 2.2 by giving written notice to the Company of its request to withdraw; provided, however, that (i) such request must be made in writing prior to the earlier of the execution of the
underwriting agreement or the execution of the custody agreement with respect to such registration and (ii) such withdrawal shall be irrevocable and, after making such withdrawal, a Holder shall no longer have any right to include
Registrable Securities in the registration as to which such withdrawal was made. 
 (e) Notwithstanding anything contained
herein to the contrary, the Company shall, at the request of any Holder (including to effect a Partner Distribution), file any prospectus supplement or post-effective amendments and otherwise take any action necessary to include therein all
disclosure and language deemed necessary or advisable by such Holder if such disclosure or language was not included in the initial registration statement, or revise such disclosure or language if deemed necessary or advisable by such Holder.

 2.3. Allocation of Securities Included in Registration Statement. 

(a) If any requested registration made pursuant to Section 2.1 involves an underwritten offering and the Manager of such offering
shall advise the Company that, in its view, the number of securities requested to be included in such registration by the Holders of Registrable Securities, the Company or any other Persons exercising Additional Piggyback Rights exceeds the largest
number (the “Section 2.3(a) Sale Number”) that can be sold in an orderly manner in such registration within a price range acceptable to the Majority Participating Holders, the Company shall use its reasonable best efforts to include
in such registration: 
 (i) first, all Registrable Securities requested to be included in such registration by the Holders
thereof (including pursuant to the exercise of piggyback rights pursuant to Section 2.2); provided, however, that if the number of such Registrable Securities exceeds the Section 2.3(a) Sale Number, the number of such
Registrable Securities (not to exceed the Section 2.3(a) Sale Number) to be included in such registration shall be allocated on a pro rata basis among all Holders requesting that Registrable Securities be included in such registration, based on
the number of Registrable Securities then owned by each such Holder requesting inclusion in relation to the number of Registrable Securities owned by all Holders requesting inclusion; 

  
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 (ii) second, to the extent that the number of Registrable Securities to be included pursuant
to clause (i) of this Section 2.3(a) is less than the Section 2.3(a) Sale Number, any securities that the Company proposes to register, up to the Section 2.3(a) Sale Number; and 

(iii) third, to the extent that the number of Registrable Securities to be included pursuant to clauses (i) and (ii) of this
Section 2.3(a) is less than the Section 2.3(a) Sale Number, the remaining Registrable Securities to be included in such registration shall be allocated on a pro rata basis among all Persons requesting that securities be included in such
registration pursuant to the exercise of Additional Piggyback Rights (“Piggyback Shares”), based on the aggregate number of Piggyback Shares then owned by each Person requesting inclusion in relation to the aggregate number of
Piggyback Shares owned by all Persons requesting inclusion, up to the Section 2.3(a) Sale Number. 
 Notwithstanding
anything in this Section 2.3(a) to the contrary, no employee shareholder of the Company will be entitled to include Registrable Securities in a registration requested by PVF pursuant to Section 2.1 to the extent the Manager of such
offering shall determine in good faith that the participation of such employee shareholder would adversely affect the marketability of the securities being sold by the Initiating Holder in such registration. 

(b) If any registration made pursuant to Section 2.2 involves an underwritten primary offering on behalf of the Company after the
date hereof and the Manager (as selected by the Company) shall advise the Company that, in its view, the number of securities requested to be included in such registration exceeds the number (the “Section 2.3(b) Sale Number”) that
can be sold in an orderly manner in such registration within a price range acceptable to the Company, the Company shall include in such registration: 
 (i) first, all equity securities that the Company proposes to register for its own account; 
 (ii) second, to the extent that the number of Registrable Securities to be included pursuant to clause (i) of this Section 2.3(b) is less than the Section 2.3(b) Sale Number, the remaining
Registrable Securities to be included in such registration shall be allocated on a pro rata basis among all Holders requesting that Registrable Securities be included in such registration pursuant to the exercise of piggyback rights pursuant to
Section 2.2, based on the aggregate number of Registrable Securities then owned by each such Holder requesting inclusion in relation to the aggregate number of Registrable Securities owned by all Holders requesting inclusion, up to the
Section 2.3(b) Sale Number; and 

  
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 (iii) third, to the extent that the number of Registrable Securities to be included pursuant
to clauses (i) and (ii) of this Section 2.3(b) is less than the Section 2.3(b) Sale Number, the remaining Registrable Securities to be included in such registration shall be allocated on a pro rata basis among all Persons
requesting that securities be included in such registration pursuant to the exercise of Additional Piggyback Rights, based on the aggregate number of Piggyback Shares then owned by each Person requesting inclusion in relation to the aggregate number
of Piggyback Shares owned by all Persons requesting inclusion, up to the Section 2.3(b) Sale Number. 
 (c) If any
registration pursuant to Section 2.2 involves an underwritten offering that was initially requested by any Person(s) other than a Holder to whom the Company has granted registration rights which are not inconsistent with the rights granted in,
or otherwise conflict with the terms of, this Agreement and the Manager (as selected by the Company or such other Person) shall advise the Company that, in its view, the number of securities requested to be included in such registration exceeds the
number (the “Section 2.3(c) Sale Number”) that can be sold in an orderly manner in such registration within a price range acceptable to the Company, the Company shall include in such registration: 

(i) first, the shares requested to be included in such registration shall be allocated on a pro rata basis among such Person(s) requesting
the registration and all Holders requesting that Registrable Securities be included in such registration pursuant to the exercise of piggyback rights pursuant to Section 2.2, based on the aggregate number of securities or Registrable
Securities, as applicable, then owned by each of the foregoing requesting inclusion in relation to the aggregate number of securities or Registrable Securities, as applicable, owned by all such Holders and Persons requesting inclusion, up to the
Section 2.3(c) Sale Number; 
 (ii) second, to the extent that the number of Registrable Securities to be included pursuant
to clause (i) of this Section 2.3(c) is less than the Section 2.3(c) Sale Number, the remaining shares to be included in such registration shall be allocated on a pro rata basis among all Persons requesting that securities be included
in such registration pursuant to the exercise of Additional Piggyback Rights, based on the aggregate number of Piggyback Shares then owned by each Person requesting inclusion in relation to the aggregate number of Piggyback Shares owned by all
Persons requesting inclusion, up to the Section 2.3(c) Sale Number; and 
 (iii) third, to the extent that the number of
securities to be included pursuant to clauses (i) and (ii) of this Section 2.3(c) is less than the Section 2.3(c) Sale Number, the remaining shares to be included in such registration shall be allocated to shares the Company
proposes to register for its own account, up to the Section 2.3(c) Sale Number. 
 (d) If, as a result of the proration
provisions set forth in clauses (a), (b) or (c) of this Section 2.3, any Holder shall not be entitled to include all Registrable Securities in a registration that such Holder has requested be included, such Holder may elect to
withdraw such Holder’s request to include Registrable Securities in such registration or may reduce the number requested to be included; provided, however, that (x) such request must be made in writing prior to the
earlier of the execution of the underwriting agreement or the execution of the custody agreement with respect to such registration and (y) such withdrawal or reduction shall be irrevocable and, after making such withdrawal or reduction,
such Holder shall no longer have any right to include Registrable Securities in the registration as to which such withdrawal or reduction was made to the extent of the Registrable Securities so withdrawn or reduced. 

  
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 2.4. Registration Procedures. If and whenever the Company is required by the
provisions of this Agreement to use its reasonable best efforts to effect or cause the registration of any Registrable Securities under the Securities Act as provided in this Agreement, the Company shall, as expeditiously as possible (but, in any
event, within sixty (60) days after a Demand Registration Request in the case of Section 2.4(a) below): 
 (a) prepare
and file with the SEC a registration statement on an appropriate registration form of the SEC for the disposition of such Registrable Securities in accordance with the intended method of disposition thereof (including, without limitation, a Partner
Distribution), which registration form (i) shall be selected by the Company and (ii) shall, in the case of a shelf registration, be available for the sale of the Registrable Securities by the selling Holders thereof and such
registration statement shall comply as to form in all material respects with the requirements of the applicable registration form and include all financial statements required by the SEC to be filed therewith, and the Company shall use its
reasonable best efforts to cause such registration statement to become effective and remain continuously effective for such period as any Participating Holder pursuant to such registration statement shall request (provided, however,
that before filing a registration statement or prospectus or any amendments or supplements thereto, or comparable statements under securities or state “blue sky” laws of any jurisdiction, or any free writing prospectus related thereto, the
Company will furnish to one counsel for the Holders participating in the planned offering (selected by the Majority Participating Holders) and to one counsel for the Manager, if any, copies of all such documents proposed to be filed (including all
exhibits thereto), which documents will be subject to the reasonable review and reasonable comment of such counsel, and the Company shall not file any registration statement or amendment thereto, any prospectus or supplement thereto or any free
writing prospectus related thereto to which the Majority Participating Holders or the underwriters, if any, shall reasonably object); 
 (b) (i) prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection therewith as may be necessary to keep such registration
statement continuously effective for such period as any Participating Holder pursuant to such registration statement shall request and to comply with the provisions of the Securities Act with respect to the sale or other disposition of all
Registrable Securities covered by such registration statement in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement and (ii) provide notice to such sellers of
Registrable Securities and the Manager, if any, of the Company’s reasonable determination that a post-effective amendment to a registration statement would be appropriate; 

(c) furnish, without charge, to each Participating Holder and each underwriter, if any, of the securities covered by such registration
statement such number of copies of such registration statement, each amendment and supplement thereto (in each case including all exhibits), the prospectus included in such registration statement (including each preliminary prospectus and any
summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, each free writing prospectus utilized in connection therewith, in each case, in conformity with the requirements of the Securities Act, and other documents,
as such seller and 

  
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underwriter may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller (the Company hereby consenting to the use in
accordance with all applicable law of each such registration statement (or amendment or post-effective amendment thereto) and each such prospectus (or preliminary prospectus or supplement thereto) or free writing prospectus by each such
Participating Holder and the underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by such registration statement or prospectus); 

(d) use its reasonable best efforts to register or qualify the Registrable Securities covered by such registration statement under such
other securities or state “blue sky” laws of such jurisdictions as any sellers of Registrable Securities or any managing underwriter, if any, shall reasonably request in writing, and do any and all other acts and things which may be
reasonably necessary or advisable to enable such sellers or underwriter, if any, to consummate the disposition of the Registrable Securities in such jurisdictions (including keeping such registration or qualification in effect for so long as such
registration statement remains in effect), except that in no event shall the Company be required to qualify to do business as a foreign corporation in any jurisdiction where it would not, but for the requirements of this paragraph (d), be required
to be so qualified, to subject itself to taxation in any such jurisdiction or to consent to general service of process in any such jurisdiction; 
 (e) promptly notify each Participating Holder and each managing underwriter, if any: (i) when the registration statement, any pre-effective amendment, the prospectus or any prospectus
supplement related thereto, any post-effective amendment to the registration statement or any free writing prospectus has been filed and, with respect to the registration statement or any post-effective amendment, when the same has become effective;
(ii) of any request by the SEC or state securities authority for amendments or supplements to the registration statement or the prospectus related thereto or for additional information; (iii) of the issuance by the SEC of any
stop order suspending the effectiveness of the registration statement or the initiation of any proceedings for that purpose; (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification of
any Registrable Securities for sale under the securities or state “blue sky” laws of any jurisdiction or the initiation of any proceeding for such purpose; (v) of the existence of any fact of which the Company becomes aware
which results in the registration statement or any amendment thereto, the prospectus related thereto or any supplement thereto, any document incorporated therein by reference, any free writing prospectus or the information conveyed to any purchaser
at the time of sale to such purchaser containing an untrue statement of a material fact or omitting to state a material fact required to be stated therein or necessary to make any statement therein not misleading; and (vi) if at any time
the representations and warranties contemplated by any underwriting agreement, securities sale agreement, or other similar agreement, relating to the offering shall cease to be true and correct in all material respects; and, if the notification
relates to an event described in clause (v), the Company shall promptly prepare and furnish to each such seller and each underwriter, if any, a reasonable number of copies of a prospectus supplemented or amended so that, as thereafter delivered to
the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein in the light of the
circumstances under which they were made not misleading; 

  
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 (f) comply (and continue to comply) with all applicable rules and regulations of the SEC
(including, without limitation, maintaining disclosure controls and procedures (as defined in Exchange Act Rule 13a-15(e)) and internal control over financial reporting (as defined in Exchange Act Rule 13a-15(f)) in accordance with the Exchange
Act), and make generally available to its security holders, as soon as reasonably practicable after the effective date of the registration statement (and in any event within forty-five (45) days, or ninety (90) days if it is a fiscal year,
after the end of such twelve month period described hereafter), an earnings statement (which need not be audited) covering the period of at least twelve (12) consecutive months beginning with the first day of the Company’s first calendar
quarter after the effective date of the registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder; 

(g) (i) (A) cause all such Registrable Securities covered by such registration statement to be listed on the principal
securities exchange on which similar securities issued by the Company are then listed (if any), if the listing of such Registrable Securities is then permitted under the rules of such exchange, or (B) if no similar securities are then so
listed, to cause all such Registrable Securities to be listed on a national securities exchange and, without limiting the generality of the foregoing, take all actions that may be required by the Company as the issuer of such Registrable Securities
in order to facilitate the managing underwriter’s arranging for the registration of at least two market makers as such with respect to such shares with FINRA, and (ii) comply (and continue to comply) with the requirements of any
self-regulatory organization applicable to the Company, including without limitation all corporate governance requirements; 

(h) provide and cause to be maintained a transfer agent and registrar for all such Registrable Securities covered by such registration
statement not later than the effective date of such registration statement; 
 (i) enter into such customary agreements
(including, if applicable, an underwriting agreement) and take such other actions as the Majority Participating Holders or the underwriters shall reasonably request in order to expedite or facilitate the disposition of such Registrable Securities
(it being understood that the Holders of the Registrable Securities which are to be distributed by any underwriters shall be parties to any such underwriting agreement and may, at their option, require that the Company make to and for the benefit of
such Holders the representations, warranties and covenants of the Company which are being made to and for the benefit of such underwriters); 
 (j) use its reasonable best efforts (i) to obtain an opinion from the Company’s counsel and a “cold comfort” letter and updates thereof from the Company’s independent
public accountants who have certified the Company’s financial statements included or incorporated by reference in such registration statement, in each case, in customary form and covering such matters as are customarily covered by such opinions
and “cold comfort” letters (including, in the case of such “cold comfort” letter, events subsequent to the date of such financial statements) delivered to underwriters in underwritten public offerings, which opinion and letter
shall be dated the dates such opinions and “cold comfort” letters are customarily dated and otherwise reasonably satisfactory to the underwriters, if any, and to the Majority Participating Holders, and (ii) furnish to each
Holder participating in the offering and to each underwriter, if any, a copy of such opinion and letter; 

  
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 (k) deliver promptly to counsel for each Participating Holder and to each managing
underwriter, if any, copies of all correspondence between the SEC and the Company, its counsel or auditors and all memoranda relating to discussions with the SEC or its staff with respect to the registration statement, and, upon receipt of such
confidentiality agreements as the Company may reasonably request, make reasonably available for inspection by counsel for each Participating Holder, by counsel for any underwriter, participating in any disposition to be effected pursuant to such
registration statement and by any accountant or other agent retained by any Participating Holder or any such underwriter, all pertinent financial and other records, pertinent corporate documents and properties of the Company, and cause all of the
Company’s officers, directors and employees to supply all information reasonably requested by any such counsel for a Participating Holder, counsel for an underwriter, accountant or agent in connection with such registration statement;

 (l) use its reasonable best efforts to obtain the prompt withdrawal of any order suspending the effectiveness of the
registration statement, or the prompt lifting of any suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction; 
 (m) provide a CUSIP number for all Registrable Securities, not later than the effective date of the registration statement; 
 (n) use its reasonable best efforts to make available its employees and personnel for participation in “road shows” and other marketing efforts and otherwise provide reasonable assistance to the
underwriters (taking into account the needs of the Company’s businesses and the requirements of the marketing process) in marketing the Registrable Securities in any underwritten offering; 

(o) prior to the filing of any document which is to be incorporated by reference into the registration statement or the prospectus (after
the initial filing of such registration statement), and prior to the filing of any free writing prospectus, provide copies of such document to counsel for each Participating Holder and to each managing underwriter, if any, and make the
Company’s representatives reasonably available for discussion of such document and make such changes in such document concerning the Participating Holders prior to the filing thereof as counsel for the Participating Holders or underwriters may
reasonably request; 
 (p) furnish to counsel for each Participating Holder and to each managing underwriter, without charge, at
least one signed copy of the registration statement and any post-effective amendments or supplements thereto, including financial statements and schedules, all documents incorporated therein by reference, the prospectus contained in such
registration statement (including each preliminary prospectus and any summary prospectus), any other prospectus filed under Rule 424 under the Securities Act and all exhibits (including those incorporated by reference) and any free writing
prospectus utilized in connection therewith; 

  
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 (q) cooperate with the Participating Holders and the managing underwriter, if any, to
facilitate the timely preparation and delivery of certificates not bearing any restrictive legends representing the Registrable Securities to be sold, and cause such Registrable Securities to be issued in such denominations and registered in such
names in accordance with the underwriting agreement at least three (3) Business Days prior to any sale of Registrable Securities to the underwriters or, if not an underwritten offering, in accordance with the instructions of the Participating
Holders at least three (3) Business Days prior to any sale of Registrable Securities and instruct any transfer agent and registrar of Registrable Securities to release any stop transfer orders in respect thereof; 

(r) take no direct or indirect action prohibited by Regulation M under the Exchange Act; provided, however, that to the
extent that any prohibition is applicable to the Company, the Company will take such action as is necessary and feasible to make any such prohibition inapplicable; 
 (s) use its reasonable best efforts to cause the Registrable Securities covered by the applicable registration statement to be registered with or approved by such other governmental agencies or
authorities as may be necessary to enable the Participating Holders or the underwriters, if any, to consummate the disposition of such Registrable Securities; 
 (t) take all such other commercially reasonable actions as are necessary or advisable in order to expedite or facilitate the disposition of such Registrable Securities; 

(u) take all reasonable action to ensure that any free writing prospectus utilized in connection with any registration covered by
Section 2.1 or 2.2 complies in all material respects with the Securities Act, is filed in accordance with the Securities Act to the extent required thereby, is retained in accordance with the Securities Act to the extent required thereby and,
when taken together with the related prospectus, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not
misleading; and 
 (v) in connection with any underwritten offering, if at any time the information conveyed to a purchaser at
the time of sale includes any untrue statement of a material fact or omits to state any material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, promptly file with the
SEC such amendments or supplements to such information as may be necessary so that the statements as so amended or supplemented will not, in light of the circumstances, be misleading. 

To the extent the Company is a well-known seasoned issuer (as defined in Rule 405 under the Securities Act) (a “WKSI”)
at the time any Demand Registration Request is submitted to the Company, and such Demand Registration Request requests that the Company file an automatic shelf registration statement (as defined in Rule 405 under the Securities Act) (an
“automatic shelf registration statement”) on Form S-3, the Company shall file an automatic shelf registration statement which covers those Registrable Securities which are requested to be registered. The Company shall use its
commercially reasonable best efforts to remain a WKSI (and not become an ineligible issuer (as defined in Rule 405 under the Securities Act)) during the period during which such automatic shelf registration statement is required to remain effective.
If the Company does not pay the filing fee covering the Registrable Securities at the time the automatic shelf registration statement is filed, the Company agrees to pay such fee at such time 

  
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or times as the Registrable Securities are to be sold. If the automatic shelf registration statement has been outstanding for at least three (3) years, at the end of the third year the
Company shall refile a new automatic shelf registration statement covering the Registrable Securities. If at any time when the Company is required to re-evaluate its WKSI status the Company determines that it is not a WKSI, the Company shall use its
commercially reasonable best efforts to refile the shelf registration statement on Form S-3 and, if such form is not available, Form S-1 and keep such registration statement effective during the period during which such registration statement is
required to be kept effective. 
 If the Company files any shelf registration statement for the benefit of the holders of any of
its securities other than the Holders, the Company agrees that it shall include in such registration statement such disclosures as may be required by Rule 430B under the Securities Act (referring to the unnamed selling security holders in a generic
manner by identifying the initial offering of the securities to the Holders) in order to ensure that the Holders may be added to such shelf registration statement at a later time through the filing of a prospectus supplement rather than a
post-effective amendment. 
 The Company may require as a condition precedent to the Company’s obligations under this
Section 2.4 that each Participating Holder as to which any registration is being effected furnish the Company such information regarding such seller and the distribution of such securities as the Company may from time to time reasonably request
provided that such information is necessary for the Company to consummate such registration and shall be used only in connection with such registration. 
 Each Holder of Registrable Securities agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in clause (v) of paragraph (e) of this
Section 2.4, such Holder will discontinue such Holder’s disposition of Registrable Securities pursuant to the registration statement covering such Registrable Securities until such Holder’s receipt of the copies of the supplemented or
amended prospectus contemplated by paragraph (e) of this Section 2.4 and, if so directed by the Company, will deliver to the Company (at the Company’s expense) all copies, other than permanent file copies, then in such Holder’s
possession of the prospectus covering such Registrable Securities that was in effect at the time of receipt of such notice. In the event the Company shall give any such notice, the applicable period mentioned in paragraph (b) of this
Section 2.4 shall be extended by the number of days during such period from and including the date of the giving of such notice to and including the date when each Participating Holder covered by such registration statement shall have received
the copies of the supplemented or amended prospectus contemplated by paragraph (e) of this Section 2.4. 
 If any such
registration statement or comparable statement under state “blue sky” laws refers to any Holder by name or otherwise as the Holder of any securities of the Company, then such Holder shall have the right to require (i) the
insertion therein of language, in form and substance satisfactory to such Holder and the Company, to the effect that the holding by such Holder of such securities is not to be construed as a recommendation by such Holder of the investment quality of
the Company’s securities covered thereby and that such holding does not imply that such Holder will assist in meeting any future financial requirements of the Company, or (ii) in the event that such reference to such Holder by name
or otherwise is not in the judgment of the Company, as advised by counsel, required by the Securities Act or any similar federal statute or any state “blue sky” or securities law then in force, the deletion of the reference to such Holder.

  
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 2.5. Registration Expenses. 

(a) The Company shall pay all Expenses with respect to any registration of Registrable Securities pursuant to this Article 2, whether or
not a registration statement becomes effective. 
 (b) Notwithstanding the foregoing, (x) the provisions of this
Section 2.5 shall be deemed amended to the extent necessary to cause these expense provisions to comply with state “blue sky” laws of each state in which the offering is made and (y) in connection with any registration
hereunder, each Participating Holder shall pay all underwriting discounts and commissions and any transfer taxes, if any, attributable to the sale of such Registrable Securities, pro rata with respect to payments of discounts and commissions in
accordance with the number of shares sold in the offering by such Participating Holder. 
 2.6. Certain Limitations on
Registration Rights. In the case of any registration under Section 2.1 pursuant to an underwritten offering, or, in the case of a registration under Section 2.2, if the Company has determined to enter into an underwriting agreement in
connection therewith, all securities to be included in such registration shall be subject to such underwriting agreement and no Person may participate in such registration unless such Person (i) agrees to sell such Person’s
securities on the basis provided therein and completes and executes all reasonable questionnaires, and other documents (including custody agreements and powers of attorney) which must be executed in connection therewith; provided,
however, that all such documents shall be consistent with the provisions hereof and (ii) provides such other information to the Company or the underwriter as may be necessary to register such Person’s securities. 

2.7. Limitations on Sale or Distribution of Other Securities. 

(a) Each Holder agrees, (i) to the extent requested in writing by a managing underwriter, if any, of any registration effected
pursuant to Section 2.1, not to sell, transfer or otherwise dispose of, including any sale pursuant to Rule 144 under the Securities Act, any Common Equity, or any other equity security of the Company or any security convertible into or
exchangeable or exercisable for any equity security of the Company (other than as part of such underwritten public offering) during the time period reasonably requested by the managing underwriter, not to exceed ninety (90) days plus an
extension period, which shall be no longer than 17 days, as may be reasonably requested by the managing underwriter to address FINRA regulations regarding the publishing of research, or such shorter period as the Company or any executive officer or
director of the Company shall agree to (and the Company hereby also so agrees (except that the Company may effect any sale or distribution of any such securities pursuant to a registration on Form S-4 (if reasonably acceptable to such managing
underwriter) or Form S-8, or any successor or similar form which is (x) then in effect or (y) shall become effective upon the conversion, exchange or exercise of any then outstanding Common Equity Equivalent), to use its
reasonable best efforts to cause each holder of any equity security or any security convertible into or exchangeable or exercisable for any equity security of the Company 

  
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purchased from the Company at any time other than in a public offering so to agree), and (ii) to the extent requested in writing by a managing underwriter of any underwritten public
offering effected by the Company for its own account, not to sell any Common Equity (other than as part of such underwritten public offering) during the time period reasonably requested by the managing underwriter, which period shall not exceed
ninety (90) days plus an extension period, which shall be no longer than 17 days, as may be reasonably requested by the managing underwriter to address FINRA regulations regarding the publishing of research, or such shorter period as the
Company or any executive officer or director of the Company shall agree to. 
 (b) The Company hereby agrees that, if it shall
previously have received a request for registration pursuant to Section 2.1 or 2.2, and if such previous registration shall not have been withdrawn or abandoned, the Company shall not sell, transfer, or otherwise dispose of, any Common Equity,
or any other equity security of the Company or any security convertible into or exchangeable or exercisable for any equity security of the Company (other than as part of such underwritten public offering, a registration on Form S-4 or Form S-8 or
any successor or similar form which is (x) then in effect or (y) shall become effective upon the conversion, exchange or exercise of any then outstanding Common Equity Equivalent), until a period of ninety (90) days plus
an extension period, which shall be no longer than 17 days, as may be reasonably requested by the managing underwriter to address FINRA regulations regarding the publishing of research, shall have elapsed from the effective date of such previous
registration; and the Company shall (i) so provide in any registration rights agreements hereafter entered into with respect to any of its securities and (ii) use its reasonable best efforts to cause each holder of any equity
security or any security convertible into or exchangeable or exercisable for any equity security of the Company purchased from the Company at any time other than in a public offering to so agree. 

2.8. No Required Sale. Nothing in this Agreement shall be deemed to create an independent obligation on the part of any Holder to
sell any Registrable Securities pursuant to any effective registration statement. 
 2.9. Indemnification. 

(a) In the event of any registration of any securities of the Company under the Securities Act pursuant to this Article 2, the Company
will, and hereby agrees to, and hereby does, indemnify and hold harmless, to the fullest extent permitted by law, each Participating Holder, its directors, officers, fiduciaries, employees, stockholders, members or general and limited partners (and
the directors, officers, fiduciaries, employees, stockholders, members or general and limited partners thereof), each other Person who participates as a seller (and its directors, officers, fiduciaries, employees, stockholders, members or general
and limited partners), underwriter or Qualified Independent Underwriter, if any, in the offering or sale of such securities, each officer, director, employee, stockholder, fiduciary, managing director, agent, affiliate, consultant, representative,
successor, assign or partner of such underwriter or Qualified Independent Underwriter, and each other Person, if any, who controls such seller or any such underwriter or Qualified Independent Underwriter within the meaning of the Securities Act,
from and against any and all losses, claims, damages or liabilities, joint or several, actions or proceedings (whether commenced or threatened) and expenses (including reasonable fees of counsel and any amounts paid in any settlement effected with
the Company’s consent, which consent shall not be unreasonably withheld or delayed) to which each such indemnified party 

  
 - 17 -

 
may become subject under the Securities Act or otherwise in respect thereof (collectively, “Claims”), insofar as such Claims arise out of or are based upon (i) any
untrue statement or alleged untrue statement of a material fact contained in any registration statement under which such securities were registered under the Securities Act or the omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein not misleading, (ii) any untrue statement or alleged untrue statement of a material fact contained in any preliminary, final or summary prospectus or any amendment
or supplement thereto, together with the documents incorporated by reference therein, or any free writing prospectus utilized in connection therewith, or the omission or alleged omission to state therein a material fact required to be stated therein
or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, or (iii) any untrue statement or alleged untrue statement of a material fact in the information conveyed
by the Company to any purchaser at the time of the sale to such purchaser, or the omission or alleged omission to state therein a material fact required to be stated therein, or (iv) any violation by the Company of any federal, state or
common law rule or regulation applicable to the Company and relating to action required of or inaction by the Company in connection with any such registration, and the Company will reimburse any such indemnified party for any legal or other expenses
reasonably incurred by such indemnified party in connection with investigating or defending any such Claim as such expenses are incurred; provided, however, that the Company shall not be liable to any such indemnified party in any such
case to the extent such Claim arises out of or is based upon any untrue statement or alleged untrue statement of a material fact or omission or alleged omission of a material fact made in such registration statement or amendment thereof or
supplement thereto or in any such prospectus or any preliminary, final or summary prospectus or free writing prospectus in reliance upon and in conformity with written information furnished to the Company by or on behalf of such indemnified party
specifically for use therein. Such indemnity and reimbursement of expenses shall remain in full force and effect regardless of any investigation made by or on behalf of such indemnified party and shall survive the transfer of such securities by such
seller. 
 (b) Each Participating Holder (and, if the Company requires as a condition to including any Registrable Securities in
any registration statement filed in accordance with Section 2.1 or 2.2, any underwriter and Qualified Independent Underwriter, if any) shall, severally and not jointly, indemnify and hold harmless (in the same manner and to the same extent as
set forth in paragraph (a) of this Section 2.9) to the extent permitted by law the Company, its officers and directors, each Person controlling the Company within the meaning of the Securities Act and all other prospective sellers and
their directors, officers, stockholders, fiduciaries, managing directors, agents, affiliates, consultants, representatives, successors, assigns or general and limited partners and respective controlling Persons with respect to any untrue statement
or alleged untrue statement of any material fact in, or omission or alleged omission of any material fact from, such registration statement, any preliminary, final or summary prospectus contained therein, or any amendment or supplement thereto, or
any free writing prospectus utilized in connection therewith, if such statement or alleged statement or omission or alleged omission was made in reliance upon and in conformity with written information furnished to the Company or its representatives
by or on behalf of such Participating Holder or underwriter or Qualified Independent Underwriter, if any, specifically for use therein and reimburse such indemnified party for any legal or other expenses reasonably incurred in connection with
investigating or defending any such Claim as such expenses are incurred; 

  
 - 18 -

 
provided, however, that the aggregate amount which any such Participating Holder shall be required to pay pursuant to this Section 2.9(b) and Sections 2.9(c) and (e) shall
in no case be greater than the amount of the net proceeds received by such Participating Holder upon the sale of the Registrable Securities pursuant to the registration statement giving rise to such Claim. The Company and each Participating Holder
hereby acknowledge and agree that, unless otherwise expressly agreed to in writing by such Participating Holders to the contrary, for all purposes of this Agreement, the only information furnished or to be furnished to the Company for use in any
such registration statement, preliminary, final or summary prospectus or amendment or supplement thereto or any free writing prospectus are statements specifically relating to (a) the beneficial ownership of shares of Common Equity by
such Participating Holder and its Affiliates and (b) the name and address of such Participating Holder. If any additional information about such Holder or the plan of distribution (other than for an underwritten offering) is required by
law to be disclosed in any such document, then such Holder shall not unreasonably withhold its agreement referred to in the immediately preceding sentence. Such indemnity and reimbursement of expenses shall remain in full force and effect regardless
of any investigation made by or on behalf of such indemnified party and shall survive the transfer of such securities by such Holder. 
 (c) Indemnification similar to that specified in the preceding paragraphs (a) and (b) of this Section 2.9 (with appropriate modifications) shall be given by the Company and each
Participating Holder with respect to any required registration or other qualification of securities under any applicable securities and state “blue sky” laws. 
 (d) Any Person entitled to indemnification under this Agreement shall notify promptly the indemnifying party in writing of the commencement of any action or proceeding with respect to which a claim for
indemnification may be made pursuant to this Section 2.9, but the failure of any indemnified party to provide such notice shall not relieve the indemnifying party of its obligations under the preceding paragraphs of this Section 2.9,
except to the extent the indemnifying party is materially and actually prejudiced thereby and shall not relieve the indemnifying party from any liability which it may have to any indemnified party otherwise than under this Article 2. In case any
action or proceeding is brought against an indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate therein and, unless in the reasonable opinion of outside
counsel to the indemnified party a conflict of interest between such indemnified and indemnifying parties may exist in respect of such claim, to assume the defense thereof jointly with any other indemnifying party similarly notified, to the extent
that it chooses, with counsel reasonably satisfactory to such indemnified party, and after notice from the indemnifying party to such indemnified party that it so chooses, the indemnifying party shall not be liable to such indemnified party for any
legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation; provided, however, that (i) if the indemnifying party fails to
take reasonable steps necessary to defend diligently the action or proceeding within twenty (20) days after receiving notice from such indemnified party that the indemnified party believes it has failed to do so; or (ii) if such
indemnified party who is a defendant in any action or proceeding which is also brought against the indemnifying party reasonably shall have concluded that there may be one or more legal or equitable defenses available to such indemnified party which
are not available to the indemnifying party or which may conflict with those available to another indemnified party with 

  
 - 19 -

 
respect to such Claim; or (iii) if representation of both parties by the same counsel is otherwise inappropriate under applicable standards of professional conduct, then, in any such
case, the indemnified party shall have the right to assume or continue its own defense as set forth above (but with no more than one firm of counsel for all indemnified parties in each jurisdiction, except to the extent any indemnified party or
parties reasonably shall have made a conclusion described in clause (ii) or (iii) above) and the indemnifying party shall be liable for any expenses therefor. No indemnifying party shall, without the written consent of the indemnified
party, effect the settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought hereunder (whether or not the
indemnified party is an actual or potential party to such action or claim) unless such settlement, compromise or judgment (A) includes an unconditional release of the indemnified party from all liability arising out of such action or
claim and (B) does not include a statement as to or an admission of fault, culpability or a failure to act, by or on behalf of any indemnified party. 
 (e) If for any reason the foregoing indemnity is unavailable, unenforceable or is insufficient to hold harmless an indemnified party under Sections 2.9(a), (b) or (c), then each applicable
indemnifying party shall contribute to the amount paid or payable to such indemnified party as a result of any Claim in such proportion as is appropriate to reflect the relative fault of the indemnifying party, on the one hand, and the indemnified
party, on the other hand, with respect to such Claim. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a
material fact relates to information supplied by the indemnifying party or the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. If,
however, the allocation provided in the second preceding sentence is not permitted by applicable law, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party in such proportion as is appropriate to
reflect not only such relative faults but also the relative benefits of the indemnifying party and the indemnified party as well as any other relevant equitable considerations. The parties hereto agree that it would not be just and equitable if any
contribution pursuant to this Section 2.9(e) were to be determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the preceding sentences of this
Section 2.9(e). The amount paid or payable in respect of any Claim shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such Claim. No Person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. Notwithstanding anything in this
Section 2.9(e) to the contrary, no indemnifying party (other than the Company) shall be required pursuant to this Section 2.9(e) to contribute any amount greater than the amount of the net proceeds received by such indemnifying party upon
the sale of the Registrable Securities pursuant to the registration statement giving rise to such Claim, less the amount of any indemnification payment made by such indemnifying party pursuant to Sections 2.9(b) and (c). 

(f) The indemnity and contribution agreements contained herein shall be in addition to any other rights to indemnification or
contribution which any indemnified party may have pursuant to law or contract and shall remain operative and in full force and effect regardless of any investigation made or omitted by or on behalf of any indemnified party and shall survive the
transfer of the Registrable Securities by any such party. 

  
 - 20 -

 (g) The indemnification and contribution required by this Section 2.9 shall be made by
periodic payments of the amount thereof during the course of the investigation or defense, as and when bills are received or expense, loss, damage or liability is incurred; provided, however, that the recipient thereof hereby
undertakes to repay such payments if and to the extent it shall be determined by a court of competent jurisdiction that such recipient is not entitled to such payment hereunder. 
 3. Underwritten Offerings. 
 3.1. Requested Underwritten Offerings.
If requested by the underwriters for any underwritten offering pursuant to a registration requested under Section 2.1, the Company shall enter into a customary underwriting agreement with the underwriters. Such underwriting agreement shall
(i) be satisfactory in form and substance to the Majority Participating Holders, (ii) contain terms not inconsistent with the provisions of this Agreement and (iii) contain such representations and warranties by,
and such other agreements on the part of, the Company and such other terms as are generally prevailing in agreements of that type, including, without limitation, indemnities and contribution agreements on substantially the same terms as those
contained herein. Any Participating Holder shall be a party to such underwriting agreement and may, at its option, require that any or all of the representations and warranties by, and the other agreements on the part of, the Company to and for the
benefit of such underwriters shall also be made to and for the benefit of such Participating Holder and that any or all of the conditions precedent to the obligations of such underwriters under such underwriting agreement be conditions precedent to
the obligations of such Participating Holder; provided, however, that the Company shall not be required to make any representations or warranties with respect to written information specifically provided by a Participating Holder for
inclusion in the registration statement. Each such Participating Holder shall not be required to make any representations or warranties to or agreements with the Company or the underwriters other than representations, warranties or agreements
regarding such Participating Holder, its ownership of and title to the Registrable Securities, any written information specifically provided by such Participating Holder for inclusion in the registration statement and its intended method of
distribution; and any liability of such Participating Holder to any underwriter or other Person under such underwriting agreement shall be limited to liability arising from breach of its representations and warranties and shall in no case be greater
than the amount of the net proceeds received by such Holder upon the sale of the Registrable Securities pursuant to the registration statement. 
 3.2. Piggyback Underwritten Offerings. In the case of a registration pursuant to Section 2.2, if the Company shall have determined to enter into an underwriting agreement in connection
therewith, all of the Participating Holders’ Registrable Securities to be included in such registration shall be subject to such underwriting agreement. Any Participating Holder may, at its option, require that any or all of the representations
and warranties by, and the other agreements on the part of, the Company to and for the benefit of such underwriters shall also be made to and for the benefit of such Participating Holder and that any or all of the conditions precedent to the
obligations of such underwriters under such underwriting agreement be conditions precedent to the obligations of such Participating Holder; provided, however, that the 

  
 - 21 -

 
Company shall not be required to make any representations or warranties with respect to written information specifically provided by a Participating Holder for inclusion in the registration
statement. Each such Participating Holder shall not be required to make any representations or warranties to or agreements with the Company or the underwriters other than representations, warranties or agreements regarding such Participating Holder,
its ownership of and title to the Registrable Securities, any written information specifically provided by such Participating Holder for inclusion in the registration statement and its intended method of distribution; and any liability of such
Participating Holder to any underwriter or other Person under such underwriting agreement shall be limited to liability arising from breach of its representations and warranties and shall in no case be greater than the amount of the net proceeds
received by such Participating Holder upon the sale of the Registrable Securities pursuant to the registration statement. 
 4. General.

 4.1. Term. This Agreement shall continue in effect until the earlier of (a) the date on which no Registrable
Securities remain outstanding and (b) the PVF Distribution Date. 
 4.2. Adjustments Affecting Registrable
Securities. The Company agrees that it shall not effect or permit to occur any combination or subdivision of shares of Common Equity which would adversely affect the ability of any Holder of any Registrable Securities to include such Registrable
Securities in any registration contemplated by this Agreement or the marketability of such Registrable Securities in any such registration. The Company agrees that it will take all reasonable steps necessary to effect a subdivision of shares of
Common Equity if in the reasonable judgment of (a) PVF or (b) the managing underwriter for the offering in respect of such Demand Registration Request, such subdivision would enhance the marketability of the Registrable
Securities. Each Holder agrees to vote all of its shares of capital stock in a manner, and to take all other actions necessary, to permit the Company to carry out the intent of the preceding sentence including, without limitation, voting in favor of
an amendment to the Company’s organizational documents in order to increase the number of authorized shares of capital stock of the Company. In any event, the provisions of this Agreement shall apply, to the full extent set forth herein with
respect to the Registrable Securities, to any and all shares of capital stock of the Company or any successor or assign of the Company (whether by merger, share exchange, consolidation, sale of assets or otherwise) which may be issued in respect of,
in exchange for or in substitution of, Registrable Securities and shall be appropriately adjusted for any stock dividends, splits, reverse splits, combinations, recapitalizations and the like occurring after the date hereof. 

4.3. Rule 144 and Rule 144A. If the Company shall have filed a registration statement pursuant to the requirements of
Section 12 of the Exchange Act or a registration statement pursuant to the requirements of the Securities Act in respect of the Common Equity or Common Equity Equivalents, the Company covenants that (i) so long as it remains subject
to the reporting provisions of the Exchange Act, it will timely file the reports required to be filed by it under the Securities Act or the Exchange Act (including, but not limited to, the reports under Sections 13 and 15(d) of the Exchange Act
referred to in subparagraph (c)(1) of Rule 144 under the Securities Act, as such Rule may be amended (“Rule 144”)) or, if the Company is not required to file such reports, it will, upon the request of any Holder, make publicly
available other information so long as necessary to permit sales by such Holder under Rule 144, Rule 144A 

  
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under the Securities Act, as such Rule may be amended (“Rule 144A”), or any similar rules or regulations hereafter adopted by the SEC, and (ii) it will take such
further action as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell Registrable Securities without registration under the Securities Act within the limitation of the exemptions provided by
(A) Rule 144, (B) Rule 144A or (C) any similar rule or regulation hereafter adopted by the SEC. Upon the request of any Holder of Registrable Securities, the Company will deliver to such Holder a written statement
as to whether it has complied with such requirements. 
 4.4. Nominees for Beneficial Owners. If Registrable Securities
are held by a nominee for the beneficial owner thereof, the beneficial owner thereof may, at its option, be treated as the Holder of such Registrable Securities for purposes of any request or other action by any Holder or Holders of Registrable
Securities pursuant to this Agreement (or any determination of any number or percentage of shares constituting Registrable Securities held by any Holder or Holders of Registrable Securities contemplated by this Agreement), provided that the Company
shall have received assurances reasonably satisfactory to it of such beneficial ownership. 
 4.5. Amendments and
Waivers. Any provisions of this Agreement may be amended, modified, supplemented or waived with the written approval of the Company and Holders holding a majority of the Registrable Securities then held by all Holders (which majority must
include PVF, so long as PVF holds any Registrable Securities). No waiver of any of the provisions of this Agreement shall be deemed to or shall constitute a waiver of any other provision hereof (whether or not similar). No failure or delay on the
part of any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof or of any other or future exercise of any such right, power or privilege. 

4.6. Notices. Any notice, request, instruction or other document to be given hereunder by any party to the others shall be in
writing and delivered personally or sent by registered or certified mail, postage prepaid, or by facsimile to the Company or to PVF at the address set forth below and to any subsequent holder of Units subject to this Agreement at such address as
indicated by the Company’s records, or at such address or to the attention of such other person as the recipient party has specified by prior written notice to the sending party. Any notice, request, instruction or other document given as
provided above shall be deemed given to the receiving party upon actual receipt, if delivered personally; three (3) Business Days after deposit in the mail, if sent by registered or certified mail; upon confirmation of successful transmission
if sent by facsimile (provided that if given by facsimile such notice, request, instruction or other document shall be followed up within one (1) Business Day by dispatch pursuant to one of the other methods described herein); or on the
next Business Day after deposit with an overnight courier, if sent by an overnight courier: 
  

	 	(i)	If to PVF, to: 

 PVF Holdings
LLC 
 c/o GS Capital Partners 
 200 West Street 
 New York, NY 10282 

Facsimile: 

  
 - 23 -

 With a copy to: 
 Fried, Frank, Harris, Shriver & Jacobson LLP 
 One New York Plaza

 New York, NY 10004 
 Attn: Robert C. Schwenkel, Esq. 
 Facsimile: (212) 859-4000 

 

	 	(ii)	If to the Company, to: 

 MRC
Global Inc. 
 2 Houston Center 
 909 Fannin, Suite 3100 
 Houston, Texas 77010 

Attention: General Counsel 
 Facsimile: 
 With a copy to: 

Fried, Frank, Harris, Shriver & Jacobson LLP 
 One New York Plaza 
 New York, NY 10004 

Attn: Robert C. Schwenkel, Esq. 
 Facsimile: (212) 859-4000 
 4.7. Successors and Assigns. Except as
otherwise provided herein, this Agreement shall bind and inure to the benefit of and be enforceable by the Company and its successors and assigns and each Holder and his, her and its respective successors, permitted assigns, heirs and personal
representatives, personal representatives and assigns of the parties hereto, whether so expressed or not. This Agreement may not be assigned by the Company, without the prior written consent of PVF. The parties hereto and their respective successors
may assign their rights under this Agreement, in whole or in part, to any purchaser of shares of Registrable Securities held by them. 
 4.8. Entire Agreement. This Agreement and the writings referred to herein or delivered pursuant hereto which form a part hereof constitute the entire agreement, and supersede all other prior
agreements, understandings, representations and warranties both written and oral, among the parties, with respect to the subject matter hereof. 
 4.9. Governing Law; Submission to Jurisdiction; Waiver of Jury Trial. 
 (a)
THIS AGREEMENT SHALL BE DEEMED TO BE MADE IN AND IN ALL RESPECTS SHALL BE INTERPRETED, CONSTRUED AND GOVERNED BY AND IN ACCORDANCE WITH THE LAW OF THE STATE OF DELAWARE WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF. The parties hereby
irrevocably submit to the personal jurisdiction of the courts of the State of Delaware located in the County of 

  
 - 24 -

 
New Castle and the Federal courts of the United States of America located in the County of New Castle solely in respect of the interpretation and enforcement of the provisions of this Agreement
and of the documents referred to in this Agreement, and in respect of the transactions contemplated hereby, and hereby waive, and agree not to assert, as a defense in any action, suit or proceeding for the interpretation or enforcement hereof or of
any such document, that it is not subject thereto or that such action, suit or proceeding may not be brought or is not maintainable in said courts or that the venue thereof may not be appropriate or that this Agreement or any such document may not
be enforced in or by such courts, and the parties hereto irrevocably agree that all claims with respect to such action or proceeding shall be heard and determined in such a Delaware State or Federal court located in the County of New Castle. The
parties hereby consent to and grant any such court jurisdiction over the person of such parties and, to the extent permitted by law, over the subject matter of such dispute and agree that mailing of process or other papers in connection with any
such action or proceeding in the manner provided in Section 4.6 or in such other manner as may be permitted by law shall be valid and sufficient service thereof. 
 (b) EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND
UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND
ACKNOWLEDGES THAT (i) 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, (ii) EACH PARTY
UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (iii) EACH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (iv) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS SECTION 4.9. 
 4.10. Interpretation; Construction 

(a) The table of contents and headings herein are for convenience of reference only, do not constitute part of this Agreement and shall
not be deemed to limit or otherwise affect any of the provisions hereof. Where a reference in this Agreement is made to a Section, such reference shall be to a Section of this Agreement unless otherwise indicated. Whenever the words
“include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” 
 (b) The parties have participated jointly in negotiating and drafting this Agreement. In the event that an ambiguity or a question of intent or interpretation arises, this Agreement shall be construed as
if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement. 

  
 - 25 -

 4.11. Counterparts. This Agreement may be executed in separate counterparts
(including by facsimile), all of which taken together shall constitute one and the same agreement. 
 4.12. Severability.
The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. If any provision of this Agreement, or the application
thereof to any person or any circumstance, is invalid or unenforceable, (a) a suitable and equitable provision shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid
or unenforceable provision and (b) the remainder of this Agreement and the application of such provision to other persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or
unenforceability affect the validity or enforceability of such provision, or the application thereof, in any other jurisdiction. 
 4.13. Specific Performance. The parties hereto agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with their
specific terms or were otherwise breached. It is accordingly agreed that each party hereto shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement
in the courts of the State of Delaware located in the County of New Castle and the Federal courts of the United States of America located in the County of New Castle, this being in addition to any other remedy to which such party is entitled at law
or in equity. 
 4.14. Further Assurances. Each party hereto shall do and perform or cause to be done and performed all
such further acts and things and shall execute and deliver all such other agreements, certificates, instruments, and documents as any other party hereto reasonably may request in order to carry out the intent and accomplish the purposes of this
Agreement and the consummation of the transactions contemplated hereby. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]

  
 - 26 -

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

By:                   
                                         
                                         
                            

      Name: 

      Title: 

MRC GLOBAL INC. 
 By:                                 
                                         
                                         
              

      Name: 

      Title:

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