Document:

EX-10.5

 Exhibit 10.5 

Execution Version 
  

 
  

SECOND LIEN COLLATERAL TRUST AGREEMENT 

dated as of August 19, 2022 

among 
 THE GEO GROUP, INC.,

 the other Grantors from time to time party hereto, 

ANKURA TRUST COMPANY, LLC, 

as Indenture Trustee, 
 ANKURA
TRUST COMPANY, LLC, 
 as Private Exchange Notes Indenture Trustee, 

and 
 ANKURA TRUST COMPANY,
LLC, 
 as Second Lien Collateral Trustee 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I DEFINITIONS; PRINCIPLES OF CONSTRUCTION
	  	 	2	 
			
	 Section 1.1
	 	Defined Terms	  	 	2	 
	 Section 1.2
	 	Other Definition Provisions	  	 	10	 
		
	 ARTICLE II THE TRUST ESTATE
	  	 	11	 
			
	 Section 2.1
	 	Declaration of Trust	  	 	11	 
	 Section 2.2
	 	Collateral Shared Equally and Ratably	  	 	12	 
		
	 ARTICLE III OBLIGATIONS AND POWERS OF COLLATERAL TRUSTEE
	  	 	12	 
			
	 Section 3.1
	 	Appointment and Undertaking of the Collateral Trustee	  	 	12	 
	 Section 3.2
	 	Release or Subordination of Liens	  	 	14	 
	 Section 3.3
	 	Enforcement of Liens	  	 	14	 
	 Section 3.4
	 	Application of Proceeds	  	 	15	 
	 Section 3.5
	 	Powers of the Collateral Trustee	  	 	16	 
	 Section 3.6
	 	Documents and Communications	  	 	16	 
	 Section 3.7
	 	For Sole and Exclusive Benefit of the Secured Parties	  	 	16	 
	 Section 3.8
	 	Additional Secured Debt	  	 	17	 
		
	 ARTICLE IV OBLIGATIONS ENFORCEABLE BY THE GRANTORS
	  	 	19	 
			
	 Section 4.1
	 	Release of Liens on Collateral	  	 	19	 
	 Section 4.2
	 	Delivery of Copies to Secured Debt Representatives	  	 	21	 
	 Section 4.3
	 	Preparing, Filing or Recording Release Documentation	  	 	21	 
	 Section 4.4
	 	Satisfaction of Obligations in Respect of any Series of Secured Debt	  	 	21	 
		
	 ARTICLE V IMMUNITIES OF THE COLLATERAL TRUSTEE
	  	 	23	 
			
	 Section 5.1
	 	No Implied Duty	  	 	23	 
	 Section 5.2
	 	Appointment of Agents and Advisors	  	 	23	 
	 Section 5.3
	 	Other Agreements	  	 	23	 
	 Section 5.4
	 	Solicitation of Instructions	  	 	24	 
	 Section 5.5
	 	Limitation of Liability	  	 	24	 
	 Section 5.6
	 	Documents in Satisfactory Form	  	 	25	 
	 Section 5.7
	 	Entitled to Rely	  	 	25	 
	 Section 5.8
	 	Secured Debt Default	  	 	25	 
	 Section 5.9
	 	Actions by Collateral Trustee	  	 	25	 
	 Section 5.10
	 	Security or Indemnity in favor of the Collateral Trustee	  	 	25	 
	 Section 5.11
	 	Rights of the Collateral Trustee	  	 	26	 
	 Section 5.12
	 	Limitations on Duty of Collateral Trustee in Respect of Collateral	  	 	26	 
	 Section 5.13
	 	Assumption of Rights, Not Assumption of Duties	  	 	27	 
	 Section 5.14
	 	No Liability for Clean-Up of Hazardous Materials	  	 	27	 
	 Section 5.15
	 	Act of Required Secured Party, etc.	  	 	27	 

  
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	 ARTICLE VI RESIGNATION AND REMOVAL OF THE COLLATERAL TRUSTEE
	  	 	28	 
			
	 Section 6.1
	 	Resignation or Removal of Collateral Trustee	  	 	28	 
	 Section 6.2
	 	Appointment of Successor Collateral Trustee	  	 	28	 
	 Section 6.3
	 	Succession	  	 	28	 
	 Section 6.4
	 	Merger, Conversion or Consolidation of Collateral Trustee	  	 	29	 
		
	 ARTICLE VII MISCELLANEOUS PROVISIONS
	  	 	29	 
			
	 Section 7.1
	 	Amendment	  	 	29	 
	 Section 7.2
	 	Voting	  	 	31	 
	 Section 7.3
	 	Further Assurances	  	 	31	 
	 Section 7.4
	 	Successors and Assigns	  	 	31	 
	 Section 7.5
	 	Delay and Waiver	  	 	32	 
	 Section 7.6
	 	Notices	  	 	32	 
	 Section 7.7
	 	Notice Following Discharge of Secured Obligations	  	 	33	 
	 Section 7.8
	 	Entire Agreement	  	 	33	 
	 Section 7.9
	 	Compensation; Expenses	  	 	34	 
	 Section 7.10
	 	Indemnity	  	 	35	 
	 Section 7.11
	 	Severability	  	 	35	 
	 Section 7.12
	 	Section Headings	  	 	35	 
	 Section 7.13
	 	Obligations Secured	  	 	36	 
	 Section 7.14
	 	Governing Law	  	 	36	 
	 Section 7.15
	 	Consent to Jurisdiction; Service of Process	  	 	36	 
	 Section 7.16
	 	WAIVER OF JURY TRIAL	  	 	36	 
	 Section 7.17
	 	Counterparts	  	 	36	 
	 Section 7.18
	 	Additional Grantors	  	 	37	 
	 Section 7.19
	 	Continuing Nature of this Agreement	  	 	37	 
	 Section 7.20
	 	Insolvency	  	 	37	 
	 Section 7.21
	 	Rights and Immunities of Secured Debt Representatives	  	 	37	 
	 Section 7.22
	 	Modification of Secured Debt Documents	  	 	37	 
	 Section 7.23
	 	Confidentiality	  	 	38	 
	 Section 7.24
	 	First Lien/Second Lien Intercreditor Agreement	  	 	38	 

  
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	EXHIBIT A	  	–	  	Form of Additional Secured Debt Designation
	EXHIBIT B	  	–	  	Form of Collateral Trust Agreement Joinder—Additional Secured Debt
	EXHIBIT C	  	–	  	Form of Collateral Trust Agreement Joinder—Additional Grantors

  

  
 iii 

 SECOND LIEN COLLATERAL TRUST AGREEMENT, (as amended, restated, supplemented, amended and
restated or otherwise modified from time to time, this “Agreement”) dated as of August 19, 2022 among The GEO Group, Inc. (the “Issuer”), the other Grantors from time to time party hereto, the Indenture Trustee
(as defined below), the Private Exchange Notes Indenture Trustee (as defined below) and Ankura Trust Company, LLC, as second lien collateral trustee (in such capacity and together with its successors in such capacity, the “Collateral
Trustee”); 
 W I T N E S S E T H: 

WHEREAS, the Issuer intends to issue (i) 10.500% senior second lien notes due 2028 (the “Notes”) in an aggregate principal
amount of $286,521,000 pursuant to an Indenture, dated as of the date hereof (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Indenture”), among the Issuer and the other
Grantors party thereto, as guarantors, and Ankura Trust Company, LLC, as trustee (in such capacity and together with its successors in such capacity, the “Indenture Trustee”) and second lien collateral trustee, and (ii) 9.500%
senior second lien notes due 2028 (the “Private Exchange Notes”) in an aggregate principal amount of $239,142,000 pursuant to an Indenture, dated as of the date hereof (as amended, restated, amended and restated, supplemented
or otherwise modified from time to time, the “Private Exchange Notes Indenture”), among the Issuer and the other Grantors party thereto, as guarantors, and Ankura Trust Company, LLC, as trustee (in such capacity and together
with its successors in such capacity, the “Private Exchange Notes Indenture Trustee”) and second lien collateral trustee; 

WHEREAS, the Grantors intend to secure the Obligations under the Indenture and the Private Exchange Notes Indenture, any future Secured Debt
and any other Secured Obligations on a pari passu basis with Liens on all present and future Collateral to the extent that such Liens have been provided for in the applicable Security Documents (each such capitalized term as defined herein);
and 
 WHEREAS, this Agreement sets forth the terms on which each Secured Party (as defined herein) has appointed Ankura Trust Company, LLC,
as Collateral Trustee to act as the collateral trustee for the Secured Parties in order to receive, hold, maintain, administer and distribute, on behalf of the Secured Parties, the Collateral at any time pledged under the Security Documents (as
defined herein) and, if applicable, delivered to the Collateral Trustee, and to enforce the applicable Security Documents on behalf of the Secured Parties party thereto. 

NOW, THEREFORE, in consideration of the premises and the mutual agreements herein set forth, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows: 

  
 1 

 ARTICLE I 

DEFINITIONS; PRINCIPLES OF CONSTRUCTION 

Section 1.1 Defined Terms. The following terms will have the following meanings: 

“Act of Required Secured Parties” means, as to any matter at any time prior to the Discharge of Secured Obligations, a
direction in writing delivered to the Collateral Trustee by or with the written consent of either the holders of or the Secured Debt Representatives representing the holders of more than 50% of the sum of: 

(a) the aggregate outstanding principal amount of Secured Debt (including the face amount of outstanding letters of credit
whether or not then available or drawn); and 
 (b) other than in connection with the exercise of remedies, the aggregate
unfunded commitments to extend credit which, when funded, would constitute Secured Debt. 
 For purposes of this definition, (i) Secured Debt
registered in the name of, or beneficially owned by, the Grantors or any of their respective Subsidiaries will be deemed not to be outstanding and neither the Grantors nor any of their Subsidiaries will be entitled to vote such Secured Debt,
(ii) Secured Debt registered in the name of, or beneficially owned by, any Affiliate of any Grantor may be subject to restrictions on ownership and/or voting to the extent set forth in the applicable Secured Debt Documents and (iii) votes
will be determined in accordance with Section 7.2. 
 “Additional Secured Debt” has the meaning
set forth in Section 3.8(b)(1). 
 “Additional Secured Debt Designation” means a notice in
substantially the form of Exhibit A. 
 “Affiliate” means, with respect to a specified
Person, any other Person that directly or indirectly Controls or is Controlled by or is under common Control with such specified Person. 

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

“Approved Intercreditor Agreement” means (i) the First Lien/Second Lien Intercreditor Agreement, (ii) with respect
to indebtedness secured on a pari passu basis with the Secured Obligations, this Agreement (or any other collateral trust agreement or intercreditor agreement reasonably acceptable to the Secured Debt Representatives in accordance with the terms and
conditions under the respective Secured Debt Documents) and (iii) with respect to any indebtedness secured on a junior basis to the Secured Obligations, an intercreditor agreement the terms of which are consistent with market terms governing
security arrangements for the sharing of Liens or arrangements relating to the distribution of payments, as applicable, at the time the intercreditor agreement is proposed to be established in light of the type of Indebtedness subject thereto (and
in each case subject to the terms of the Secured Debt Documents), in each case as amended, restated, amended and restated, supplemented or otherwise modified from time to time. 

  
 2 

 “Business Day” means any day other than a Saturday, a Sunday or a day on
which banking institutions in the City of New York or at a place of payment of any applicable Secured Obligations are authorized or required by law, regulation or executive order to remain closed. 

“Capital Stock” of any Person means any and all shares, interests, participations, rights in or other equivalents (however
designated) of such Person’s capital stock, other equity interests whether now outstanding or issued after the Issue Date, partnership interests (whether general or limited), limited liability company interests, any other interest or
participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person, including any Preferred Stock, and any rights (other than debt securities convertible into, or
exchangeable for or valued by reference to, Capital Stock until and unless any such debt security is converted into Capital Stock), warrants or options exchangeable for or convertible into such Capital Stock. 

“Collateral” means all properties and assets of the Grantors now owned or hereafter acquired in which Liens have been
granted, or purported to be granted, or required to be granted, in favor of the Collateral Trustee on behalf of the Secured Parties to secure any or all of the Secured Obligations, and shall exclude any properties and assets in which the Collateral
Trustee is required to release its Liens pursuant to Section 3.2 (from and after the time such release is required); provided, that, subject to the terms of the applicable Secured Debt Documents, if such Liens
are required to be released as a result of the sale, transfer or other disposition of any properties or assets of any Grantor, such assets or properties will cease to be excluded from the Collateral if such Grantor thereafter acquires or reacquires
such assets or properties. For the avoidance of doubt, in no event shall “Collateral” include any Excluded Property. 

“Collateral Trustee” has the meaning set forth in the preamble. 

“Collateral Trust Agreement Joinder” means (i) with respect to the provisions of this Agreement relating to any
Additional Secured Debt, a joinder substantially in the form of Exhibit B hereto and (ii) with respect to the provisions of this Agreement relating to the addition of additional Grantors, a joinder substantially in the
form of Exhibit C hereto. 
 “Control” means the possession, directly or indirectly, of
the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlled” has a meaning correlative thereto. 

“Credit Facility” means one or more debt facilities or commercial paper facilities, in each case with banks or other
institutional lenders providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to such lenders or to special purpose entities formed to borrow from such lenders against such receivables) or
letters of credit, in each case, as amended, restated, amended and restated, supplemented or otherwise modified from time to time including any replacement that has been designated in accordance with Section 3.8 hereof.

  
 3 

 “Discharge of Secured Obligations” means the occurrence of all of
the following: 
 (1) termination or expiration of all commitments to extend credit that would constitute Secured Debt; 

(2) with respect to each Series of Secured Debt, either (x) payment in full, or other satisfaction and discharge, of the
obligations outstanding under such Secured Debt (other than any obligations for taxes, costs, indemnifications, reimbursements, damages and other liabilities in respect of which no claim or demand for payment has been made at such time and any
undrawn letters of credit) or (y) the legal defeasance or covenant defeasance pursuant to the terms of the applicable Secured Debt Documents for such Series of Secured Debt; 

(3) with respect to any undrawn letters of credit constituting Secured Debt, either (x) the discharge or cash
collateralization (at the lower of (A) 105% of the aggregate undrawn amount and (B) the percentage of the aggregate undrawn amount required for release of liens under the terms of the applicable Secured Debt Document) of all outstanding
letters of credit constituting Secured Debt or (y) the notification by the issuer of each such letter of credit to the Collateral Trustee in writing that such issuer has determined that alternative arrangements satisfactory to such issuer have
been made; and 
 (4) payment in full of all other Secured Obligations that are outstanding and unpaid at the time the
Secured Debt is paid in full in cash (other than any obligations for taxes, costs, indemnifications, reimbursements, damages and other liabilities in respect of which no claim or demand for payment has been made at such time). 

“Environmental Laws” means all laws, rules, regulations, codes, ordinances, or binding orders, decrees, judgments,
injunctions, notices or agreements issued, promulgated or entered into by any Governmental Authority, relating to pollution or protection of the environment, including management or reclamation of natural resources, and the management, Release or
threatened Release of any Hazardous Material or to occupational health and safety matters, as such occupational health and safety matters relate to exposure or handling of Hazardous Materials. 

“Exchange Credit Agreement” means that certain Credit Agreement, dated as of the Issue Date, by and among the Company, GEO
Corrections Holdings, Inc., Alter Domus (US) LLC, as Administrative Agent, and the lenders who are, or may from time to time become, a party thereto, including any related notes, guarantees, collateral documents, instruments and agreements executed
in connection therewith, and in each case as amended (and/or amended and restated) as of the date of this Indenture and as may be further amended (and/or amended and restated), modified, renewed, refunded, replaced or refinanced from time to time,
in whole or in part, with the same or different lenders (including, without limitation, any amendment, amendment and restatement, modification, renewal, refunding, replacement or refinancing that increases the maximum amount of the loans made or to
be made thereunder). 
 “Excluded Property” has the meaning set forth in the Exchange Credit Agreement (as defined in the
First Lien/Second Lien Intercreditor Agreement), as amended, supplemented or otherwise modified in accordance with its terms. 

  
 4 

 “First Lien/Second Lien Intercreditor Agreement” means that certain First
Lien/Second Lien Intercreditor Agreement, dated as of the date hereof, by and among Alter Domus Products Corp., as Exchange Credit Facility Agent (as defined therein) for the Exchange Credit Facility Secured Parties (as defined therein), Alter Domus
Products Corp., as Existing Credit Facility Agent (as defined therein) for the Existing Credit Facility Secured Parties (as defined therein), and the Collateral Trustee, as Second Lien Notes Collateral Trustee, and acknowledged by the Issuer and the
other Grantors from time to time party thereto, as amended, restated, amended and restated, supplemented or otherwise modified from time to time. 

“Funded Debt” means, with respect to any specified Person, any indebtedness of such Person (excluding accrued
expenses and trade payables), whether or not contingent: 
 (1) in respect of borrowed money or advances; or 

(2) evidenced by loan agreements, bonds, notes, debentures or similar instruments or letters of credit (or reimbursement
agreements in respect thereof). 
 “Governmental Authority” means any nation, province, state, municipality or political
subdivision thereof, and any government or any agency or instrumentality thereof exercising executive, legislative, regulatory or administrative functions of or pertaining to government, and any corporation or other entity owned or controlled,
through stock or capital ownership or otherwise, by any of the foregoing. 
 “Grantors” means (a) the Issuer
and each of its Subsidiaries that executes this Agreement as of the date hereof as a “Grantor” and (b) from and after the date hereof, each other Subsidiary that becomes a party to this Agreement (and any of the Security Documents)
pursuant to a Collateral Trust Agreement Joinder. 
 “Indemnified Liabilities” means any and all liabilities (including all
environmental liabilities), obligations, losses, damages, penalties, actions, judgments, suits, costs, taxes, expenses or disbursements of any kind or nature whatsoever with respect to the execution, delivery, performance, administration or
enforcement of this Agreement or any of the other Security Documents, including the violation of, noncompliance with or liability under, any Environmental Laws with respect to any real property of a Grantor which constitutes Collateral, and all
reasonable, documented out-of-pocket costs and expenses (including reasonable documented fees and expenses of legal counsel selected by the Indemnitee) incurred by any
Indemnitee in connection with any claim, action, investigation or proceeding in any respect relating to any of the foregoing, whether or not suit is brought; provided, however, that in no event shall “Indemnified Liabilities”
include fees and expenses for more than one primary counsel to the Collateral Trustee (and up to one local counsel in each applicable jurisdiction and regulatory counsel). 

“Indemnitee” has the meaning set forth in Section 7.10(a). 

“Indenture” has the meaning set forth in the recitals. 

“Indenture Trustee” has the meaning set forth in the recitals. 

  
 5 

 “Insolvency or Liquidation Proceeding” means: 

(1) any involuntary case or application or proceeding commenced or involuntary petition filed seeking (a) liquidation,
reorganization, winding-up, dissolution, compromise, arrangement or other relief in respect of the Issuer or any Grantor or its debts, or of a substantial part of its assets, under any federal, state or
foreign bankruptcy, insolvency, receivership, examinership or similar law now or hereafter in effect or (b) the appointment of a receiver, receiver and manager, trustee, custodian, sequestrator, conservator, examiner, liquidator or similar
official for the Issuer or any Grantor or for a substantial part of its assets; and/or 
 (2) (a) any voluntary proceeding
commenced or voluntary filing by the Issuer or any Grantor of any petition seeking liquidation, reorganization, winding-up, dissolution, compromise, arrangement or other relief under any federal, state or
foreign bankruptcy, insolvency, receivership, examinership or similar law now or hereafter in effect (except in a transaction expressly permitted by the applicable Secured Debt Documents), (b) any consent by the Issuer or any Grantor to the
institution of, or failure to contest in a timely and appropriate manner, any proceeding or petition described in clause (1) above, (c) any application for or consent to by the Issuer or any Grantor of the appointment of a receiver, receiver
and manager, trustee, custodian, sequestrator, conservator, examiner or similar official for, the Issuer or any Grantor or for a substantial part of its assets, (d) the Issuer or any Grantor filing an answer admitting the material allegations
of a petition filed against it in any such proceeding, (e) the Issuer or any Grantor making a general assignment for the benefit of creditors or (f) the Issuer or any Grantor taking any action for the purpose of effecting any of the
foregoing. 
 “Issuer” has the meaning set forth in the preamble. 

“Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in
respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a
security interest in and any filing of or agreement to give any financing statement under the UCC (or equivalent statutes) of any jurisdiction. 

“Modification” has the meaning set forth in Section 3.8(d)(1). 

“Mortgage Amendment” has the meaning set forth in Section 3.8(d)(1). 

“Mortgage” has the meaning set forth in Section 3.8(d)(1). 

“Mortgaged Property” has the meaning set forth in Section 3.8(d)(1). 

“Notes” has the meaning set forth in the recitals. 

  
 6 

 “Obligations” means all unpaid principal of and accrued and unpaid
interest on any Funded Debt, all accrued and unpaid fees and all expenses, reimbursements, indemnities and other obligations and indebtedness (including interest accruing during the pendency of any Insolvency or Liquidation Proceeding, regardless of
whether allowed or allowable in such proceeding), obligations and liabilities of any Grantor to any of the Secured Parties and the Collateral Trustee or any indemnified party, individually or collectively, existing on the date hereof or arising
hereafter, direct or indirect, joint or several, absolute or contingent, matured or unmatured, liquidated or unliquidated, secured or unsecured, arising by contract, operation of law or otherwise, arising or incurred under any Secured Debt Document
or any Security Document or in respect of any of the loans made or reimbursement or other obligations incurred or any of the letters of credit or other instruments at any time evidencing any thereof. 

“Officer’s Certificate” means a certificate with respect to compliance with a condition or covenant provided for
in this Agreement, signed on behalf of the Issuer by an authorized officer of the Issuer (any certifications or representations therein in such authorized officer’s capacity and not in his or her individual capacity), including: 

(a) a statement that the Person making such certificate has read such covenant or condition; 

(b) a statement that, in the opinion of such Person (in such Person’s capacity as an officer and not in his or her
individual capacity), he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been satisfied; and 

(c) a statement as to whether or not, in the opinion of such Person (in such Person’s capacity as an officer and not in
his or her individual capacity), such condition or covenant has been satisfied. 
 “Permitted Prior Lien”
means any Lien that has priority over the Lien granted to the Collateral Trustee for its benefit and for the ratable benefit of the other Secured Parties and which Lien was permitted under the applicable Secured Debt Document. 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, Governmental Authority or other entity. 
 “Preferred Stock,” as applied to the Capital Stock of any Person,
means Capital Stock of any class or classes (however designated) which is preferred as to the payment of dividends or distributions, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person,
over shares of Capital Stock of any other class of such Person. 
 “Priority Lien” means a Lien granted, or
purported to be granted, by a Security Document to the Collateral Trustee, at any time, upon any property of any Grantor to secure Secured Obligations. 

“Private Exchange Notes” has the meaning set forth in the recitals. 

“Private Exchange Notes Indenture” has the meaning set forth in the recitals. 

  
 7 

 “Private Exchange Notes Indenture Trustee” has the meaning set forth in the
recitals. 
 “Reaffirmation Agreement” means an agreement reaffirming the security interests granted to the Collateral
Trustee in substantially the form attached as Exhibit 1 to Exhibit A of this Agreement. 
 “Secured
Debt” means: 
 (1) any Funded Debt incurred on the date hereof or hereafter under the Indenture and the Private
Exchange Notes Indenture that was permitted to be incurred and secured under each applicable Secured Debt Document; 
 (2)
any other Funded Debt that is secured by a Priority Lien and that was permitted to be incurred and permitted to be so secured under each applicable Secured Debt Document; provided, in the case of any Funded Debt referred to in this clause
(2), that: 
 (a) on or before the date on which such Funded Debt is incurred by the applicable Grantor, such Funded Debt
is designated by the Issuer as “Secured Debt” for the purposes of the Secured Debt Documents in an Additional Secured Debt Designation executed and delivered in accordance with Section 3.8(a); 

(b) unless such Funded Debt is issued under an existing Secured Debt Document for any Series of Secured Debt whose Secured Debt
Representative is already party to this Agreement, the Secured Debt Representative for such Funded Debt executes and delivers a Collateral Trust Agreement Joinder in accordance with Section 3.8(b); and 

(c) all other requirements set forth in Section 3.8 have been complied with. 

“Secured Debt Default” means the occurrence and continuance of any matured “Event of Default” or similar term as
defined in any of (i) the Indenture, (ii) the Private Exchange Notes Indenture or (iii) any other Secured Debt Document, or any other event or condition that, under the terms of any credit agreement, indenture or other agreement
governing any Series of Secured Debt causes, or permits holders of Secured Debt outstanding thereunder to cause, the Secured Debt outstanding thereunder to become immediately due and payable, in each case, after all applicable grace periods have
expired. 
 “Secured Debt Documents” means the Indenture, the Private Exchange Notes Indenture, any other indenture,
credit agreement or other agreement related to any Secured Debt and any Security Documents. 
 “Secured Debt
Representative” means: 
 (a) in the case of the Notes, the Indenture Trustee; 

  
 8 

 (b) in the case of the Private Exchange Notes, the Private Exchange Notes
Indenture Trustee; and 
 (c) in the case of any other Series of Secured Debt, the trustee, agent or representative of the
holders of such Series of Secured Debt who maintains the transfer register for such Series of Secured Debt and is appointed as a representative of the Secured Debt (for purposes related to the administration of the Security Documents) pursuant to
the credit agreement, indenture or other agreement governing such Series of Secured Debt, and who has executed a Collateral Trust Agreement Joinder. 

“Secured Obligations” means the Secured Debt and all Obligations in respect of Secured Debt, together with all
guarantees of any of the foregoing. 
 “Secured Parties” means the holders of the Secured Obligations, each Secured Debt
Representative and the Collateral Trustee. 
 “Security Documents” means this Agreement, each Reaffirmation
Agreement, each Collateral Trust Agreement Joinder, and all security agreements, collateral agreements, pledge agreements, collateral assignments, mortgages, deeds of trust, collateral agency agreements, control agreements or other grants or
transfers for security executed and delivered by any Grantor creating (or purporting to create) a Lien upon Collateral in favor of the Collateral Trustee, for its benefit and for the ratable benefit of any of the Secured Parties, in each case, as
amended, modified, renewed, restated or replaced, in whole or in part, from time to time, in accordance with its terms and Section 7.1. 

“Series of Secured Debt” means, severally, the Secured Debt under (i) the Indenture, (ii) the Private
Exchange Notes Indenture and (iii) each other issue or series of Secured Debt for which a single transfer register is maintained. For the avoidance of doubt, all reimbursement obligations in respect of letters of credit issued pursuant to a
Secured Debt Document shall be part of the same Series of Secured Debt as all other Secured Debt incurred pursuant to such Secured Debt Document. 

“Subsidiary” means, with respect to any specified Person: (1) any corporation, association or other business entity of
which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees of the corporation, association or other business
entity is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and (2) any partnership (a) the sole general partner or the managing
general partner of which is such Person or a Subsidiary of such Person or (b) the only general partners of which are such Person or one or more Subsidiaries of such Person (or any combination thereof). 

“Trust Estate” has the meaning set forth in Section 2.1. 

  
 9 

 “UCC” means the Uniform Commercial Code as in effect from time to time in
the State of New York; provided, however, that in the event that, by reason of mandatory provisions of law, any or all of the perfection or priority of, or remedies with respect to, any Collateral is governed by the Uniform Commercial
Code or any other similar law as enacted and in effect in a jurisdiction other than the State of New York, the term “UCC” shall mean the Uniform Commercial Code or such other similar law as enacted and in effect in such other jurisdiction
solely for purposes of the provisions hereof relating to the creation or perfection of security interests and priority or remedies with respect thereto. 

Section 1.2 Other Definition Provisions. 

(a) The words “hereof,” “herein,” “hereto” and “hereunder” and words of similar import when used in
this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section and Exhibit references, are to this Agreement unless otherwise specified. References to any Exhibit shall mean such
Exhibit as amended or supplemented from time to time in accordance with this Agreement. 
 (b) The meanings given to terms defined
herein shall be equally applicable to both the singular and plural forms of such terms. 
 (c) The expressions “payment in full,”
“paid in full” and any other similar terms or phrases when used herein shall mean payment in cash in immediately available funds. 

(d) The use herein of the word “include” or “including,” when following any general statement, term or matter, shall not
be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether or not non-limiting language (such as
“without limitation” or “but not limited to” or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that fall within the broadest possible scope of such
general statement, term or matter. 
 (e) All references herein to provisions of the UCC shall include all successor provisions under any
subsequent version or amendment to any Article of the UCC. 
 (f) All terms used in this Agreement that are defined in Article 9 of
the UCC and not otherwise defined herein have the meanings assigned to them in Article 9 of the UCC. 
 (g) Notwithstanding anything to the
contrary in this Agreement, any references contained herein to any section, clause, paragraph, definition or other provision of the Indenture and the Private Exchange Notes Indenture (including, in each case, any definition contained therein) shall
be deemed to be a reference to such section, clause, paragraph, definition or other provision as in effect on the date of this Agreement as amended or modified from time to time if such amendment or modification has been made in accordance with the
Indenture or the Private Exchange Notes Indenture, as applicable. Unless otherwise set forth herein, references to principal amount shall include, without duplication, any reimbursement obligations with respect to a letter of credit and the face
amount thereof (whether or not such amount is, at the time of determination, drawn or available to be drawn). 

  
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 This Agreement and the other Security Documents will be construed without regard to the
identity of the party who drafted it and as though the parties participated equally in drafting it. Consequently, each of the parties acknowledges and agrees that any rule of construction that a document is to be construed against the drafting party
will not be applicable either to this Agreement or the other Security Documents. 
 ARTICLE II 

THE TRUST ESTATE 

Section 2.1 Declaration of Trust. 

To secure the payment of the Secured Obligations, each of the Grantors hereby confirms the grants to the Collateral Trustee of, and the
Collateral Trustee hereby accepts and agrees to hold in trust under this Agreement for its benefit and for the ratable benefit of all other current and future Secured Parties a security interest in all of such Grantor’s right, title and
interest in, to and under all Collateral under any Security Document (collectively the “Trust Estate”). 
 The Collateral
Trustee and its successors and assigns under this Agreement will hold the Trust Estate in trust solely and exclusively for its benefit and for the ratable benefit of all other current and future Secured Parties as security for the payment of all
present and future Secured Obligations. 
 Notwithstanding the foregoing, if at any time: 

(1) all Liens securing the Secured Obligations have been released as provided in Section 4.1; 

(2) the Collateral Trustee holds no other property in trust as part of the Trust Estate; and 

(3) no monetary obligation (other than indemnification and other contingent obligations for which no claim or demand for
payment, whether oral or written, has been made at such time) is outstanding and payable under this Agreement to the Collateral Trustee or any of its co-trustees or agents (whether in an individual or
representative capacity); 
 then the trust arising hereunder will terminate, except that all provisions set forth in
Sections 7.9 and 7.10 that are enforceable by the Collateral Trustee or any of its co-trustees or agents (whether in an individual or representative capacity) will remain
enforceable in accordance with their terms. 
 The parties further declare and covenant that the Trust Estate will be held and distributed
by the Collateral Trustee subject to the further agreements herein. 

  
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 Section 2.2 Collateral Shared Equally and Ratably. Subject to
Section 4.4, the parties to this Agreement agree that the payment and satisfaction of all of the Secured Obligations will be secured equally and ratably by the Liens established in favor of the Collateral Trustee for its
benefit and for the ratable benefit of the other Secured Parties under the Security Documents, notwithstanding the time of incurrence of any Secured Obligations or the date, time, method or order of grant, attachment or perfection of any Liens
securing such Secured Obligations and notwithstanding any provision of the UCC, the time of incurrence of any Series of Secured Debt or the time of incurrence of any other Secured Obligation, or any other applicable law or any defect or deficiencies
in, or failure to perfect or lapse in perfection of, or avoidance as a fraudulent conveyance or otherwise of, the Liens securing the Secured Obligations or the subordination of such Liens to any other Liens, or any other circumstance whatsoever,
whether or not any Insolvency or Liquidation Proceeding has been commenced against any Grantor, it is the intent of the parties that, and the parties hereto agree for themselves and Secured Parties represented by them that all Secured Obligations
will be and are secured equally and ratably by all Priority Liens at any time granted by any Grantor to secure any Obligations in respect of any Series of Secured Debt, whether or not upon property otherwise constituting collateral for such Series
of Secured Debt, and that all such Priority Liens will be enforceable by the Collateral Trustee for its benefit and for the ratable benefit of all other Secured Parties equally and ratably; provided however, that notwithstanding the foregoing, this
provision will not be violated with respect to any particular Collateral and any particular Series of Secured Debt if the Secured Debt Documents in respect thereof prohibit the applicable Secured Parties from accepting the benefit of a Lien on any
particular asset or property or such Secured Party otherwise expressly declines in writing to accept the benefit of a Lien on such asset or property. 

ARTICLE III 

OBLIGATIONS AND POWERS OF COLLATERAL TRUSTEE 

Section 3.1 Appointment and Undertaking of the Collateral Trustee 

(a) Each Secured Debt Representative and each other Secured Party acting through its respective Secured Debt Representative and/or by its
acceptance of the benefits of the Security Documents hereby appoints Ankura Trust Company, LLC (and any co-agents, sub-agents or attorneys-in-fact appointed by the Collateral Trustee for any of the purposes listed below (and which shall be entitled to the benefit of the provisions of this Agreement)) to serve as collateral trustee
hereunder and under the Security Documents as provided herein and therein. Subject to, and in accordance with, this Agreement, the Collateral Trustee will have, as collateral trustee, solely and exclusively for its benefit and for the ratable
benefit of the other present and future Secured Parties, in accordance with the terms of this Agreement and subject to applicable law, the power and authority to: 

(1) accept, enter into, hold, maintain, administer and enforce all Security Documents, including all Collateral subject
thereto, and all Liens created thereunder, perform its obligations hereunder and under the Security Documents and protect, exercise and enforce the interests, rights, powers and remedies granted or available to it under, pursuant to or in connection
with the Security Documents; 

  
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 (2) take all lawful and commercially reasonable actions permitted under the
Security Documents that it may deem necessary or advisable to protect or preserve its interest in the Collateral subject thereto and such interests, rights, powers and remedies; 

(3) deliver and receive notices pursuant to this Agreement and the Security Documents; 

(4) sell, assign, collect, assemble, foreclose on, institute legal proceedings with respect to, or otherwise exercise or
enforce the rights and remedies of a secured party (including a mortgagee, trust deed beneficiary and insurance beneficiary or loss payee) with respect to the Collateral under the Security Documents and its other interests, rights, powers and
remedies; 
 (5) remit as provided in Section 3.4 all cash proceeds received by the Collateral
Trustee from the collection, foreclosure or enforcement of its interest in the Collateral under the Security Documents or any of its other interests, rights, powers or remedies; 

(6) execute and deliver (i) amendments and supplements to the Security Documents as may be required or advisable from
time to time and in accordance with Section 7.1 and (ii) acknowledgements of Collateral Trust Agreement Joinders delivered pursuant to Section 3.8 or 7.18 hereof; 

(7) promptly release any Lien granted to it by any Security Document upon any Collateral if and as required by
Section 3.2 or Article IV; and 
 (8) act or decline to act in connection with any
enforcement of Liens as provided in Section 3.3. 
 (b) Each party to this Agreement acknowledges and consents
and/or by its acceptance of the benefits of the Security Documents hereby acknowledges and consents to the undertaking of the Collateral Trustee set forth in Section 3.1(a) and agrees to each of the other provisions of this
Agreement applicable to the Collateral Trustee. 
 (c) Notwithstanding anything to the contrary contained in this Agreement, the Collateral
Trustee will not commence any exercise of remedies or any foreclosure actions or otherwise take any action or proceeding against any of the Collateral unless and until it shall have been directed in writing by an Act of Required Secured Parties and
then only in accordance with the provisions of this Agreement and the First Lien/Second Lien Intercreditor Agreement. 
 (d) The Collateral
Trustee is authorized to enter into any Approved Intercreditor Agreement (and any amendments, amendments and restatements, restatements or waivers of or supplements to or other modifications to, and extensions, restructuring, renewals, replacements
of, such agreements) in connection with the incurrence by any Grantor of any Funded Debt permitted by the terms of the applicable Secured Debt Documents to be secured by 

  
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the Collateral on a senior, pari passu or junior priority secured basis, in each case in order to permit such Funded Debt to be secured by a valid, perfected Lien (with such priority as may be
designated by such Grantor to the extent such priority is permitted by the applicable Secured Debt Documents, and subject to the conditions thereof), and the parties hereto acknowledge that each Approved Intercreditor Agreement is (if entered into)
binding upon them. 
 (e) Notwithstanding anything to the contrary contained in this Agreement, none of the Issuer, the other Grantors or
any of their respective Affiliates may serve as Collateral Trustee. 
 Section 3.2 Release or Subordination of
Liens. The Collateral Trustee will not release or subordinate any Lien granted in favor of the Collateral Trustee or consent to the release or subordination of any Lien granted in favor of the Collateral Trustee, except: 

(a) other than as set forth in clause (b) of this Section 3.2, solely with respect to subordination, as
directed by an Act of Required Secured Parties; 
 (b) upon the reasonable request and at the expense of any Grantor, to subordinate any
Lien in favor of the Collateral Trustee (i) in connection with the incurrence of any Indebtedness (as defined in the Indenture or the Private Exchange Notes Indenture, as applicable) pursuant to Sections 4.09(b)(iv) and (xx) of the
Indenture or the Private Exchange Notes Indenture (and any corresponding section of any other Secured Debt Document), and (ii) to the holder of any Permitted Prior Lien identified in clauses (3) and (4) of the definition of “Permitted
Liens” in the Indenture or the Private Exchange Notes Indenture (and any corresponding section of any other Secured Debt Document), in each case certified by such Grantor to the Collateral Trustee in an Officer’s Certificate, to which the
Collateral Trustee may conclusively rely without liability, that such subordination is permitted in accordance with this Section 3.2 and the section or sections of the applicable Secured Debt Document; 

(c) as required or permitted by Article IV; or 

(d) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction. 

Section 3.3 Enforcement of Liens. If the Collateral Trustee at any time receives written notice that any Secured Debt Default has
occurred under any Secured Debt Document that entitles the Collateral Trustee to foreclose upon, collect or otherwise enforce its Liens under the Security Documents, the Collateral Trustee will promptly deliver written notice thereof to each Secured
Debt Representative. Thereafter, the Collateral Trustee may await direction by an Act of Required Secured Parties and will act, or decline to act, as directed by an Act of Required Secured Parties, in the exercise and enforcement of the Collateral
Trustee’s interests, rights, powers and remedies in respect of the Collateral or under the Security Documents or applicable law and, following the initiation of such exercise of remedies, the Collateral Trustee will act, or not act, with
respect to the manner of such exercise of remedies as directed by an Act of Required Secured Parties, subject to the First Lien/Second Lien Intercreditor Agreement. Unless it has been directed to the contrary by an Act of Required Secured Parties,
the Collateral Trustee in any event may (but will not be obligated to) take or refrain from taking such action with respect to any Secured Debt Default as it may deem advisable and in the interest of the Secured Parties. 

  
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 Section 3.4 Application of Proceeds. 

(a) Subject to the First Lien/Second Lien Intercreditor Agreement, the Collateral Trustee will apply the proceeds of any collection, sale,
foreclosure or other realization upon, or exercise of any right or remedy with respect to, any Collateral and the proceeds thereof, and the proceeds of any title insurance or other insurance policy required under any Secured Debt Document or
otherwise covering the Collateral in the following order of application: 
 FIRST, to the payment of all amounts payable
under this Agreement on account of the Collateral Trustee’s fees and any reasonable and documented out-of-pocket legal fees, costs and expenses or other liabilities
of any kind incurred by, or owed to, the Collateral Trustee or any co-trustee or agent of the Collateral Trustee in connection with performing its obligations under any Security Document or this Agreement
(including, but not limited to, indemnification obligations arising under this Agreement or any Security Document that are then due and payable); 

SECOND, to the repayment of obligations, other than the Secured Obligations, secured by a Permitted Prior Lien on the
Collateral sold or realized upon to the extent that such other Lien has priority over the Priority Liens but only if such obligation is discharged (in whole or in part) in connection with such sale; 

THIRD, to the respective Secured Debt Representatives on a pro rata basis for each Series of Secured Debt that are secured by
such Collateral for application to the payment of all such outstanding Secured Debt and any such other Secured Obligations that are then due and payable and so secured (for application in such order as may be provided in the Secured Debt Documents
applicable to the respective Secured Obligations) in an amount sufficient to pay in full in cash all outstanding Secured Debt and all other Secured Obligations that are then due and payable (including all interest and fees accrued thereon after the
commencement of any Insolvency or Liquidation Proceeding at the rate, including any applicable post-default rate, specified in the Secured Debt Documents, even if such interest is not enforceable, allowable or allowed as a claim in such proceeding,
and including the discharge or cash collateralization (at the lower of (1) 105% of the aggregate undrawn amount and (2) the percentage of the aggregate undrawn amount required for release of Liens under the terms of the applicable Secured Debt
Document) of all outstanding letters of credit constituting Secured Debt); and 
 FOURTH, any surplus remaining after the
payment in full in cash of amounts described in the preceding clauses will be paid to the Issuer or the applicable Grantor, as the case may be, its successors or assigns, or to such other Persons as may be entitled to such amounts under applicable
law or as a court of competent jurisdiction may direct. 

  
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 Notwithstanding the foregoing, if any Lien on any Collateral no longer secures the
Obligations under any Series of Secured Debt as described below in Section 4.4, then such Series of Secured Debt and any related Secured Obligations of that Series thereafter shall not be entitled to share in the proceeds
of any such Collateral. 
 (b) This Section 3.4 is intended for the benefit of, and will be enforceable as a
third party beneficiary by, each present and future Secured Party. The Secured Debt Representative of each future Series of Secured Debt will be required to deliver a Collateral Trust Agreement Joinder as provided in
Section 3.8 at the time of incurrence of such Series of Secured Debt. 
 (c) In connection with the application
of proceeds pursuant to Section 3.4(a), except as otherwise directed by an Act of Required Secured Parties, the Collateral Trustee may sell any non-cash proceeds for cash prior to the
application of the proceeds thereof. 
 (d) In making the determinations and allocations in accordance with
Section 3.4(a), the Collateral Trustee may conclusively rely without liability upon information supplied by the relevant Secured Debt Representative as to the amounts of unpaid principal and interest and other amounts
outstanding with respect to its respective Secured Debt and any other Secured Obligations. 
 Section 3.5 Powers of the Collateral
Trustee. 
 (a) The Collateral Trustee is irrevocably authorized and empowered (but without obligation) to enter into and perform its
obligations and protect, perfect, exercise and enforce its interest, rights, powers and remedies under the Security Documents and applicable law and in equity and to act as set forth in this Article III or, subject to the
other provisions of this Agreement and the First Lien/Second Lien Intercreditor Agreement, as requested in any directions given to it from time to time in respect of any matter by an Act of Required Secured Parties. 

(b) In the absence of gross negligence or willful misconduct on the part of any Secured Debt Representative or Secured Party (as determined
by a court of competent jurisdiction by final and nonappealable judgment), no Secured Debt Representative or Secured Party (other than the Collateral Trustee) will have any liability whatsoever for any act or omission of the Collateral Trustee. 

Section 3.6 Documents and Communications. The Collateral Trustee will permit each Secured Debt Representative and each Secured
Party upon reasonable written notice from time to time to inspect and copy, at the cost and expense of the party requesting such copies, any and all Security Documents and other documents, notices, certificates, instructions or communications
received or delivered by the Collateral Trustee in its capacity as such. 
 Section 3.7 For Sole and Exclusive Benefit of the
Secured Parties. The Collateral Trustee will accept, hold, administer and enforce all Liens on the Collateral at any time pledged and, if applicable, delivered to it and all other interests, rights, powers and remedies at any time granted to or
enforceable by the Collateral Trustee and all other property of the Trust Estate solely and exclusively for its benefit and for the ratable benefit of the other present and future Secured Parties, and will distribute all proceeds received by it in
realization thereon or from enforcement thereof solely and exclusively pursuant to the provisions of Section 3.4, in each case, subject to the First Lien/Second Lien Intercreditor Agreement. 

  
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 Section 3.8 Additional Secured Debt. 

(a) The Collateral Trustee will, as collateral trustee hereunder, perform its undertakings set forth in this Agreement with respect to any
Secured Debt that is issued or incurred after the date hereof if the designated Secured Debt Representative identified pursuant to this Section 3.8 signs a Collateral Trust Agreement Joinder and delivers the same to the
Collateral Trustee; provided that, if such Funded Debt is issued under an existing Secured Debt Document for any Series of Secured Debt whose Secured Debt Representative is already party to this Agreement, no such Collateral Trust Agreement
Joinder shall be a condition to the performance by the Collateral Trustee of its undertakings set forth in this Agreement with respect to such Funded Debt. 

(b) The Issuer will be permitted to designate as Secured Debt hereunder any Funded Debt that is incurred by any Grantor after the date of
this Agreement in accordance with the terms of the applicable Secured Debt Documents. The Issuer may only effect such designation by delivering to the Collateral Trustee an Additional Secured Debt Designation that: 

(1) states that such Grantor intends to incur additional Funded Debt (“Additional Secured Debt”) which will
be Secured Debt not prohibited by any Secured Debt Document to be incurred and secured by a Priority Lien equally and ratably with all previously existing and future Secured Debt; 

(2) specifies the name and address of the Secured Debt Representative (or, in the case of any Additional Secured Debt of which
there is a single holder, such holder) for such Additional Secured Debt for purposes of this Agreement including Section 7.6; 

(3) states that such Grantor and any other Grantors party thereto have duly authorized and executed (if applicable) all
relevant filings and recordations to ensure that the Additional Secured Debt is secured by the Collateral in accordance with the Security Documents; and 

(4) attaches as Exhibit 1 to such Additional Secured Debt Designation a Reaffirmation Agreement in substantially the form
attached as Exhibit 1 to Exhibit A of this Agreement, which Reaffirmation Agreement has been duly executed by each Grantor. 
 The
Issuer shall deliver a copy of the Additional Secured Debt Designation and the related Collateral Trust Agreement Joinder to each then existing Secured Debt Representative; provided that the failure to do so shall not affect the status of such debt
as Additional Secured Debt if the other requirements of this Section 3.8 are complied with. Notwithstanding the foregoing, nothing in this Agreement will be construed to allow any Grantor to incur additional Funded Debt or
Liens if prohibited by the terms of any Secured Debt Documents. 

  
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 Notwithstanding the foregoing, (x) the incurrence of revolving credit obligations under
commitments that have previously been designated as Secured Debt, (y) the issuance of letters of credit and incurrence of reimbursement obligations in respect thereof under commitments that have previously been designated as Secured Debt and
(z) the incurrence of any incremental facilities under any Credit Facility that constitutes Additional Secured Debt shall, in each case, automatically constitute Secured Debt and shall not require compliance with the procedures set forth in
Section 3.8(a) and this Section 3.8(b). 
 (c) With respect to any Secured Debt that is issued or incurred after the date hereof,
each Grantor agrees to take such actions (if any) as necessary or as otherwise may from time to time reasonably be requested by the Collateral Trustee or any Secured Debt Representative and enter into such technical amendments, modifications and/or
supplements to the then existing Security Documents (or execute and deliver such additional Security Documents) as may from time to time be reasonably requested by such Persons (including as contemplated by clause (d) below), to ensure that the
Additional Secured Debt is secured by, and entitled to the benefits of, the relevant Security Documents, and each Secured Party (by its acceptance of the benefits hereof and the execution of this Agreement) hereby agrees to, and authorizes the
Collateral Trustee to enter into, any such technical amendments, modifications and/or supplements (and additional Security Documents). Each Grantor hereby further agrees that, if there are any recording, filing or other similar fees payable in
connection with any of the actions to be taken pursuant to this Section 3.8(c) or Section 3.8(d), all such amounts shall be paid by, and shall be for the account of, the Grantors, on a joint and
several basis. 
 (d) Without limitation of the foregoing, each Grantor agrees to take the following actions with respect to any real
property Collateral with respect to all Additional Secured Debt (it being understood that any such actions may be taken following the incurrence of any such Additional Secured Debt on a post-closing basis if permitted by the Secured Debt
Representative for such Additional Secured Debt or the requisite percentage or number of holders of such Additional Secured Debt at the time outstanding as provided for in the applicable Secured Debt Documents): 

(1) each applicable Grantor shall enter into, and deliver to the Collateral Trustee amendments to the Mortgages (each, a
“Mortgage Amendment”) or new mortgages, deeds of trust or similar instruments (only to the extent such new mortgage, deed of trust or other instrument would be required to effect such Mortgage modifications) with regard to each real
property located in the United States of America required to be subject to a mortgage, deed of trust or similar instrument(each such instrument a “Mortgage,” and each such property a “Mortgaged Property”) under the
Secured Debt Documents, with such changes as may be required to account for local law matters, at the time of such incurrence, in proper form for recording in all applicable jurisdictions, in form and substance substantially similar to comparable
Mortgages delivered to the Exchange Credit Facility Agent under the Exchange Credit Agreement, and each 

  
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applicable Grantor is jointly and severally liable to pay all filing and recording fees and taxes, documentary stamp taxes, mortgage taxes and other taxes, charges and fees, if any, necessary for
filing or recording in the recording office of each jurisdiction where such real property to be encumbered thereby is situated; 

(2) each applicable Grantor will cause to be delivered a local counsel opinion (subject to customary assumptions and
qualifications) with respect to each such Mortgaged Property substantially similar to the comparable opinions provided under the Exchange Credit Agreement; and 

(3) each applicable Grantor will cause a title company to deliver to the Collateral Trustee for the benefit of the Collateral
Trustee and the ratable benefit of the other Secured Parties an endorsement to each title insurance policy for all real property Collateral then in effect, date down(s) or other evidence of title (which may include new title insurance policies), in
form and substance reasonably satisfactory to the Exchange Credit Facility Agent under the Exchange Credit Agreement, in each case insuring or evidencing the priority of the Liens of the applicable Mortgages, as amended by any Mortgage Amendment as
security for the Secured Obligations with no intervening liens or encumbrances which take priority over the Lien of the applicable Mortgage(s), other than with respect to Liens permitted by each Security Document. 

ARTICLE IV 

OBLIGATIONS ENFORCEABLE BY THE GRANTORS 

Section 4.1 Release of Liens on Collateral. 

(a) The Collateral Trustee’s Liens upon the Collateral will be automatically, and without the need for any consent or approval of any
Secured Party or the Collateral Trustee (except as contemplated by clause (3) below), released in any of the following circumstances: 

(1) in part as to any portion of property subject to such Liens which has been taken by eminent domain, condemnation or other
similar circumstances or that becomes Excluded Property; 
 (2) in part, as to any property that (a) is sold,
transferred or otherwise disposed of by the Issuer or any Grantor (other than to the Issuer or another Grantor) in a transaction not prohibited by the Indenture, the Private Exchange Notes Indenture and the Security Documents at the time of such
sale, transfer or disposition or in connection with any exercise of remedies pursuant to the Indenture, the Private Exchange Notes Indenture, this Agreement, the other Security Documents or the First Lien/Second Lien Intercreditor Agreement or
(b) is owned or at any time acquired by a Grantor that has been released from its Guarantee (as defined in the Indenture or the Private Exchange Notes Indenture, as applicable) in accordance with the

  
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Indenture or the Private Exchange Notes Indenture, as applicable, concurrently with the release of such Guarantee (as defined in the Indenture or the Private Exchange Notes Indenture, as
applicable) (including in connection with the designation of a Grantor as an Unrestricted Subsidiary (as defined in the Indenture or the Private Exchange Notes Indenture, as applicable)); 

(3) in whole or in part, pursuant to an Act of Required Secured Parties and upon delivery of instructions and other
documentation, in each case to the extent required by the Security Documents; 
 (4) as to any asset constituting
Collateral, if all other Liens on such asset securing First Priority Obligations (as defined in the First Lien/Second Lien Intercreditor Agreement) and any other Obligations then secured by such asset (including commitments thereunder) are released
or will be released simultaneously therewith, other than by reason of the payment under or termination of any such First Priority Obligations (as defined in the First Lien/Second Lien Intercreditor Agreement) and other Obligations, to the extent in
accordance with this Agreement, the other Security Documents and the First Lien/Second Lien Intercreditor Agreement; and 

(5) in whole or in part, in accordance with the applicable provisions of the Security Documents and the First Lien/Second Lien
Intercreditor Agreement. 
 (b) A Grantor shall be automatically released from its obligations under this Agreement and the other Security
Documents and the Collateral Trustee’s Liens upon the Collateral of such Grantor and the capital stock or other equity interests of such Grantor shall be automatically released if such Grantor (x) ceases to be a Restricted Subsidiary (as
defined in each applicable Secured Debt Document) or (y) becomes an Excluded Subsidiary (as defined in each applicable Secured Debt Document); provided that the Issuer has elected for such Excluded Subsidiary to be released in accordance
with the First Priority Debt Documents (as defined in the First Lien/Second Lien Intercreditor Agreement) and the Secured Debt Documents. 

(c) The Collateral Trustee agrees for the benefit of the Issuer and the other Grantors that if the Collateral Trustee at any time receives:

 (1) an Officer’s Certificate stating that the conditions precedent in this Agreement and all other Secured Debt
Documents, if any, relating to the release of the applicable Collateral have been complied with; 
 (2) the proposed
instrument or instruments releasing such Lien as to such property in recordable form, if applicable; and 
 (3) in the case
of a release requested pursuant to Section 4.1(a)(3), the written confirmation of each Secured Debt Representative that consent from the applicable Secured Parties that are required to consent to such release has been
obtained; 

  
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 then the Collateral Trustee will, without recourse, representation or warranty (express or implied),
promptly (i) execute (with such acknowledgements and/or notarizations as are required), deliver and provide the Issuer or such Grantor (or its designee or counsel) authorization to file (if applicable) such releases and such other documents
(including UCC termination statements, reconveyances and customary pay-off letters) as the Issuer or such Grantor may reasonably request to evidence and effectuate such release to the Issuer or such Grantor
and (ii) take such other actions (including return of any Collateral to the Issuer or such Grantor) as the Issuer or such Grantor may reasonably request in connection with such release, in each case, on or prior to the later of (x) the
date specified in such request for such release and (y) the fifth Business Day after the date of receipt of the items required by this Section 4.1(c) by the Collateral Trustee. 

(d) The Collateral Trustee hereby agrees that in the case of any release pursuant to clause (2) of
Section 4.1(a), if the terms of any such sale, transfer or other disposition require the payment of the purchase price to be contemporaneous with the delivery of the applicable release, then, at the written request of and
at the expense of the Issuer or other applicable Grantor, the Collateral Trustee will deliver the release under customary escrow or other arrangements that permit such contemporaneous payment and delivery of the release. 

Section 4.2 Delivery of Copies to Secured Debt Representatives. The Collateral Trustee will deliver to each Secured Debt
Representative a copy of each document delivered to the Collateral Trustee pursuant to Section 4.1(c). The Secured Debt Representatives will not be obligated to take notice thereof or to act thereon. 

Section 4.3 Preparing, Filing or Recording Release Documentation. In connection with any release of Collateral or any Grantor
pursuant to Section 4.1(a) or (b), the Collateral Trustee shall, promptly upon the request of the Issuer or the applicable Grantor, without recourse, representation or warranty (express or implied), (i) execute, and
deliver all agreements, instruments or documents to effect such release and (ii) provide to the Issuer or the applicable Grantor (or its designee or counsel) authorization to serve, file, register or record any such agreement, instrument or
document. 
 Section 4.4 Satisfaction of Obligations in Respect of any Series of Secured Debt. 

(a) Satisfaction of Obligations in Respect of the Notes. Notwithstanding anything herein to the contrary, in addition to any release
pursuant to Section 4.1 hereof, the Collateral Trustee’s Priority Lien will no longer secure the Notes outstanding under the Indenture or any other Obligations under the Indenture, and the right of the holders of the
Notes and such Obligations to the benefits and proceeds of the Collateral Trustee’s Priority Lien on the Collateral will automatically terminate and be discharged: 

(1) upon satisfaction and discharge of the Indenture as set forth under Article 11 of the Indenture; 

  
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 (2) upon a Legal Defeasance or Covenant Defeasance (each as defined under
the Indenture) of the Notes as set forth under Article 8 of the Indenture; 
 (3) upon payment in full and discharge of all
Notes outstanding under the Indenture and all Obligations that are outstanding, due and payable under the Indenture at the time the Notes are paid in full and discharged; or 

(4) in whole or in part, with the consent of the holders of the requisite percentage of Notes in accordance with Article 9 of
the Indenture. 
 (b) Satisfaction of Obligations in Respect of the Private Exchange Notes. Notwithstanding anything herein to the
contrary, in addition to any release pursuant to Section 4.1 hereof, the Collateral Trustee’s Priority Lien will no longer secure the Private Exchange Notes outstanding under the Private Exchange Notes Indenture or any
other Obligations under the Private Exchange Notes Indenture, and the right of the holders of the Private Exchange Notes and such Obligations to the benefits and proceeds of the Collateral Trustee’s Priority Lien on the Collateral will
automatically terminate and be discharged: 
 (1) upon satisfaction and discharge of the Private Exchange Notes Indenture as
set forth under Article 11 of the Private Exchange Notes Indenture; 
 (2) upon a Legal Defeasance or Covenant Defeasance
(each as defined under the Indenture) of the Private Exchange Notes as set forth under Article 8 of the Private Exchange Notes Indenture; 

(3) upon payment in full and discharge of all Private Exchange Notes outstanding under the Private Exchange Notes Indenture
and all Obligations that are outstanding, due and payable under the Private Exchange Notes Indenture at the time the Private Exchange Notes are paid in full and discharged; or 

(4) in whole or in part, with the consent of the holders of the requisite percentage of Private Exchange Notes in accordance
with Article 9 of the Private Exchange Notes Indenture. 
 (c) Satisfaction of Obligations in Respect of any Series of Secured Debt
other than the Notes. Notwithstanding anything herein to the contrary, in addition to any release pursuant to Section 4.1 hereof, (i) as to any Series of Secured Debt (other than the Notes or the Private Exchange
Notes), the Collateral Trustee’s Priority Lien automatically will no longer secure such Series of Secured Debt if the requirements of a Discharge of Secured Obligations are satisfied with respect to such Series of Secured Debt. 

  
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 (d) The Collateral Trustee shall not be deemed to have knowledge of any Discharge of
Secured Obligations with respect to any Series of Secured Debt unless and until written notice thereof is delivered by the applicable Secured Debt Representative to the Collateral Trustee, as to which the Collateral Trustee may conclusively rely
without liability. 
 ARTICLE V 

IMMUNITIES OF THE COLLATERAL TRUSTEE 

Section 5.1 No Implied Duty. The Collateral Trustee will not have any fiduciary duties (whether before or after a default or
Secured Debt Default) or other implied duties nor will it have responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Security Documents. The Collateral Trustee will not be required to take any
action that is contrary to applicable law or any provision of this Agreement, the First Lien/Second Lien Intercreditor Agreement or the other Security Documents. It is understood and agreed that the use of the term “trustee” herein or in
any other Security Document (or any other similar term) with reference to a Collateral Trustee is not intended to connote any fiduciary or other implied (or express) obligations arising under agency or trustee 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 5.2 Appointment of Agents and Advisors. The Collateral Trustee may execute any of the trusts or powers hereunder or
perform any duties hereunder either directly or by or through agents, attorneys, accountants, appraisers or other experts or advisors selected by it in good faith as it may reasonably require and will not be responsible for any misconduct or
negligence on the part of any of them. 
 Section 5.3 Other Agreements. 

(a) The Collateral Trustee has accepted its appointment as Collateral Trustee hereunder. The Collateral Trustee is authorized and directed
(i) to execute and deliver the First Lien/Second Lien Intercreditor Agreement and the Security Documents executed by the Collateral Trustee as of the date of this Agreement as well as any additional Security Documents from time
to time that are required hereunder or reasonably requested by a Grantor or a Secured Debt Representative and is (or will be) bound by the First Lien/Second Lien Intercreditor Agreement and all such Security Documents upon effectiveness thereof and
the Collateral Trustee shall execute all such Security Documents and (ii) without obligation, in order to perfect the security interest to the Collateral Trustee on behalf of the Secured Parties granted by the Grantors on the Collateral held by
such Grantors and in accordance with the terms of this Agreement, to execute, deliver and/or file or record (if applicable) any such Security Documents, instruments, financing statements or other documents with the applicable government body;
provided, however, that such additional Security Documents do not adversely affect the rights, privileges, benefits and immunities of the Collateral Trustee. The Collateral Trustee will not otherwise be bound by, or be held obligated by,
the provisions of any credit agreement, indenture or other agreement governing Secured Debt (other than this Agreement, the First Lien/Second Lien Intercreditor Agreement and the other Security Documents to which it is a party) other than those
expressly assumed by it in the applicable Secured Debt Documents to which it is a party. In acting under any Security Document and the First Lien/Second Lien Intercreditor Agreement, the Collateral Trustee shall enjoy all the rights, protections,
immunities and indemnities granted to it 

  
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hereunder. To the extent applicable, the Collateral Trustee shall enjoy the same rights, protections, immunities and indemnities afforded to it under the Secured Debt Documents as agent of (or
otherwise being appointed to act for the benefit of) the related Secured Debt Representative or Secured Parties in acting hereunder. 
 (b)
Upon receipt of a Collateral Trust Agreement Joinder, the Collateral Trustee shall execute the same. 
 Section 5.4 Solicitation of
Instructions. 
 (a) As to any matter not expressly provided for by this Agreement, the First Lien/Second Lien Intercreditor Agreement
or the other Security Documents, the Collateral Trustee may at any time solicit written confirmatory instructions, as to which it may conclusively rely without liability, in the form of an Act of Required Secured Parties, an Officer’s
Certificate or an order of a court of competent jurisdiction, as to any action that it may be requested or required to take, or that it may propose to take, in the performance of any of its obligations under this Agreement, the First Lien/Second
Lien Intercreditor Agreement or the other Security Documents. 
 (b) No written direction given to the Collateral Trustee by an Act of
Required Secured Parties that in the sole judgment of the Collateral Trustee imposes, purports to impose or might reasonably be expected to impose upon the Collateral Trustee any obligation or liability not set forth in or arising under this
Agreement, the First Lien/Second Lien Intercreditor Agreement and the other Security Documents will be binding upon the Collateral Trustee unless the Collateral Trustee elects, at its sole option, to accept such direction. For the avoidance of
doubt, Sections 7.9 and 7.10 shall apply with regard to any action taken by the Collateral Trustee in compliance with such request or direction. 

Section 5.5 Limitation of Liability. The Collateral Trustee will not be responsible or liable for any action taken or omitted to
be taken by it hereunder, the First Lien/Second Lien Intercreditor Agreement or under any other Security Document, except for its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and
nonappealable judgment. In no event shall the Collateral Trustee be responsible or liable for punitive, special, indirect, or consequential loss or damage of any kind whatsoever (including loss of profit) arising out of or in connection with this
Agreement, the First Lien/Second Lien Intercreditor Agreement or any other Security Document or any agreement or transaction contemplated hereby irrespective of whether the Collateral Trustee has been advised of the likelihood of such loss or damage
and regardless of the form of actions. The Collateral Trustee shall in no event be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its
control, including, without limitation, strikes, work stoppages, accidents, epidemics and pandemics, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of
utilities, communications or computer (software and hardware) services. 

  
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 Section 5.6 Documents in Satisfactory Form. The Collateral Trustee will be
entitled to require that all agreements, certificates, opinions, instruments and other documents at any time submitted to it, including those expressly provided for in this Agreement, be delivered to it in a form and with substantive provisions
reasonably satisfactory to it as to its rights, duties and obligations; provided that in no event shall the Collateral Trustee be deemed to be making a representation as to the accuracy, adequacy or sufficiency of such document or for the
sufficiency of this Agreement. 
 Section 5.7 Entitled to Rely. The Collateral Trustee may seek and conclusively rely upon, and
shall be fully protected in relying upon, any judicial order or judgment, upon any advice, opinion or statement of legal counsel, independent consultants and other experts selected by it in good faith and upon any certification, instruction, notice
or other writing delivered to it by the Issuer or any other Grantor in compliance with the provisions of this Agreement or delivered to it by any Secured Debt Representative as to the Secured Parties for whom it acts, without being required to
determine the authenticity thereof or the correctness of any fact stated therein or the propriety or validity of service thereof. The Collateral Trustee may act in reliance upon any instrument comporting with the provisions of this Agreement or any
signature reasonably believed by it to be genuine and may assume that any Person purporting to give notice or receipt or advice or make any statement or execute any document in connection with the provisions hereof or the other Security Documents
has been duly authorized to do so. To the extent an Officer’s Certificate is required or permitted under this Agreement to be delivered to the Collateral Trustee in respect of any matter, the Collateral Trustee may rely conclusively on such
Officer’s Certificate as to such matter and such Officer’s Certificate shall be full warranty and protection to the Collateral Trustee for any action taken, suffered or omitted by it under the provisions of this Agreement and the other
Security Documents with respect to the transaction specified in such Officer’s Certificate. 
 Section 5.8 Secured Debt
Default. The Collateral Trustee will not be required to inquire as to the occurrence or absence of any Secured Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt
Default unless and until it is directed by an Act of Required Secured Parties. For the avoidance of doubt, and notwithstanding anything to the contrary herein, the Collateral Trustee shall not be subject to, or bound by, the terms and provisions of
any documents to which it is not a party, and shall not be deemed to have knowledge of the terms and provisions of any document to which it is not a party. 

Section 5.9 Actions by Collateral Trustee. As to any matter not expressly provided for by this Agreement, the First Lien/Second
Lien Intercreditor Agreement or the other Security Documents, the Collateral Trustee will act or refrain from acting as directed by an Act of Required Secured Parties and will be fully protected if it does so, and any action taken, suffered or
omitted pursuant hereto or thereto shall be binding on the Secured Parties. 
 Section 5.10 Security or Indemnity in favor of the
Collateral Trustee. The Collateral Trustee will not be required to advance or expend any funds or otherwise incur any financial liability in the performance of its duties or the exercise of its powers or rights hereunder unless it has been
provided with security or indemnity satisfactory to it against any and all liability, loss, fee or expense which may be incurred by it by reason of taking or continuing to take such action. 

  
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 Section 5.11 Rights of the Collateral Trustee. In the event of any conflict
between any terms and provisions set forth in this Agreement and those set forth in any other Security Document, the terms and provisions of this Agreement shall supersede and control the terms and provisions of such other Security Document with
respect to the priority of the Liens created by the Security Documents and the rights and remedies of the Collateral Trustee. In the event there is any bona fide, good faith disagreement between the other parties to this Agreement or any of the
other Security Documents resulting in adverse claims being made in connection with Collateral held by the Collateral Trustee and the terms of this Agreement or any of the other Security Documents do not unambiguously mandate the action the
Collateral Trustee is to take or not to take in connection therewith under the circumstances then existing, or the Collateral Trustee is in doubt as to what action it is required to take or not to take hereunder or under the other Security
Documents, it will be entitled to refrain from taking any action (and will incur no liability for doing so) until directed otherwise in writing by a request signed jointly by the parties hereto entitled to give such direction or by order of a court
of competent jurisdiction. 
 Section 5.12 Limitations on Duty of Collateral Trustee in Respect of Collateral. 

(a) Beyond the exercise of reasonable care in the custody of Collateral in its possession, the Collateral Trustee will have no duty as to any
Collateral in its possession or control or in the possession or control of any agent or bailee or any income thereon or as to preservation of rights against prior parties or any other rights pertaining thereto and the Collateral Trustee will not be
responsible for filing any financing or continuation statements or recording any documents or instruments in any public office at any time or times or otherwise perfecting or maintaining the perfection of any Liens on the Collateral, all of which
shall be the responsibility of the applicable Grantor and evidence of such filings shall be provided to the Collateral Trustee. The Collateral Trustee shall deliver to each other Secured Debt Representative a copy of any such evidence of filing. The
Collateral Trustee will be deemed to have exercised reasonable care in the custody of the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which it accords its own property, and the Collateral Trustee
will not be liable or responsible for any loss or diminution in the value of any of the Collateral by reason of the act or omission of any carrier, forwarding agency or other agent or bailee selected by the Collateral Trustee in good faith. The
Collateral Trustee shall have no obligation or duty to obtain or monitor any insurance in respect of the Collateral 
 (b) Except as
provided in Section 5.12(a), the Collateral Trustee will not be responsible for the existence, genuineness or value of any of the Collateral or for the validity, perfection, priority or enforceability of the Liens in any of
the Collateral, whether impaired by operation of law or by reason of any action or omission to act on its part hereunder, except to the extent such action or omission constitutes gross negligence or willful misconduct on the part of the Collateral
Trustee as determined by a court of competent jurisdiction by final and nonappealable judgment, for the validity or sufficiency of the Collateral or any agreement or assignment contained therein, for the validity of the title of any Grantor to the
Collateral, for insuring the Collateral or for the payment of taxes, charges, assessments or Liens upon the Collateral or otherwise as to the maintenance of the Collateral. The Collateral Trustee hereby disclaims any representation or warranty to
the current and future holders of the Secured Obligations concerning the perfection of the security interests granted to it or in the value of any Collateral. 

  
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 Section 5.13 Assumption of Rights, Not Assumption of Duties. Notwithstanding
anything to the contrary contained herein: 
 (1) each of the parties thereto (other than the Collateral Trustee) will
remain liable under each of the Security Documents (other than this Agreement) to the extent set forth therein to perform all of their respective duties and obligations thereunder to the same extent as if this Agreement had not be executed; 

(2) the exercise by the Collateral Trustee of any of its rights, remedies or powers hereunder will not release such parties
from any of their respective duties or obligations under the other Security Documents; and 
 (3) the Collateral Trustee
will not be obligated to perform any of the obligations or duties of any of the parties to the Security Documents other than the obligations and duties of the Collateral Trustee. 

Section 5.14 No Liability for Clean-Up of Hazardous Materials. In the event that the
Collateral Trustee is required to acquire title to an asset for any reason, or take any managerial action of any kind in regard thereto, in order to carry out any fiduciary or trust obligation for the benefit of another, which in the Collateral
Trustee’s sole discretion may cause the Collateral Trustee to be considered an “owner or operator” under any environmental laws or otherwise cause the Collateral Trustee to incur, or be exposed to, any environmental liability or any
liability under any other federal, state or local law, the Collateral Trustee reserves the right, instead of taking such action, either to resign as Collateral Trustee or to arrange for the transfer of the title or control of the asset to a court
appointed receiver. The Collateral Trustee will not be liable to any Person for any environmental liability or any environmental claims or contribution actions under any federal, state or local law, rule or regulation by reason of the Collateral
Trustee’s actions and conduct as authorized, empowered and directed hereunder or relating to any kind of discharge or release or threatened discharge or release of any hazardous materials into the environment. 

Section 5.15 Act of Required Secured Party, etc. 

(a) At the request of the Collateral Trustee, each Secured Debt Representative shall provide any information requested by the Collateral
Trustee in order to determine whether any act, direction or vote of holders of Secured Debt meets the definition of “Act of Required Secured Parties”. Each such Secured Debt Representative shall be required to determine whether any
Secured Debt is held by the Issuer or any Affiliate of a Grantor for purposes of clauses (i) and (ii) of the definition of “Act of Required Secured Parties.” 

(b) The Collateral Trustee shall not be deemed to have knowledge of any Discharge of Secured Obligations unless and until written notice
thereof is delivered to the Collateral Trustee pursuant to Section 7.7. 
 (c) The Collateral Trustee shall be entitled to
conclusively rely on the information provided by each such Secured Debt Representative pursuant to this Section 5.15. 

  
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 ARTICLE VI 

RESIGNATION AND REMOVAL OF THE COLLATERAL TRUSTEE 

Section 6.1 Resignation or Removal of Collateral Trustee. Subject to the appointment of a successor Collateral Trustee as provided
in Section 6.2 and the acceptance of such appointment by the successor Collateral Trustee: 
 (a) the Collateral
Trustee may resign at any time by giving not less than 30 days’ notice of resignation to each Secured Debt Representative and the Issuer; and 

(b) the Collateral Trustee may be removed at any time, with or without cause, by an Act of Required Secured Parties. 

Section 6.2 Appointment of Successor Collateral Trustee. Upon any such resignation or removal, a successor Collateral Trustee may
be appointed by an Act of Required Secured Parties (with the consent of the Issuer, such consent not to be unreasonably withheld or delayed); provided that no such consent shall be required upon the occurrence of a Secured Debt Default. If no
successor Collateral Trustee has been so appointed and accepted such appointment within 30 days after the predecessor Collateral Trustee gave notice of resignation or was removed, the retiring Collateral Trustee may (at the expense of the Issuer),
at its option, appoint a successor Collateral Trustee, or petition a court of competent jurisdiction for appointment of a successor Collateral Trustee, which must be a bank or trust company: 

(1) authorized to exercise corporate trust powers; 

(2) having a combined capital and surplus of at least $500,000,000; 

(3) maintaining an office in New York, New York; 

(4) reasonably satisfactory to the Issuer. 

The Collateral Trustee will fulfill its obligations hereunder until a successor Collateral Trustee meeting the requirements of this
Section 6.2 has accepted its appointment as Collateral Trustee and the provisions of Section 6.3 have been satisfied. 

Section 6.3 Succession. When the Person so appointed as successor Collateral Trustee accepts such appointment: 

(1) such Person will succeed to and become vested with all the rights, powers, privileges and duties of the predecessor
Collateral Trustee, and the predecessor Collateral Trustee will be discharged from its duties and obligations hereunder; and 

  
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 (2) the predecessor Collateral Trustee will (at the expense of the Issuer)
promptly transfer all Liens and collateral security and other property of the Trust Estate within its possession or control to the possession or control of the successor Collateral Trustee and will execute instruments and assignments as may be
necessary or desirable or reasonably requested by the successor Collateral Trustee to transfer to the successor Collateral Trustee all Liens, interests, rights, powers and remedies of the predecessor Collateral Trustee in respect of the Security
Documents or the Trust Estate. 
 Thereafter the predecessor Collateral Trustee will remain entitled to enforce the immunities granted to it in
Article V and the provisions of Sections 7.9 and 7.10. 
 Section 6.4
Merger, Conversion or Consolidation of Collateral Trustee. Any Person into which the Collateral Trustee may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to
which the Collateral Trustee shall be a party, or any Person succeeding to the business of the Collateral Trustee shall be the successor of the Collateral Trustee pursuant to Section 6.3; provided that (i) without the
execution or filing of any paper with any party hereto or any further act on the part of any of the parties hereto, except where an instrument of transfer or assignment is required by law to effect such succession, anything herein to the contrary
notwithstanding, such Person satisfies the eligibility requirements specified in clauses (1) through (4) of Section 6.2 and (ii) prior to any such merger, conversion or consolidation, the Collateral Trustee shall
have notified the Issuer and each Secured Debt Representative thereof in writing. 
 ARTICLE VII 

MISCELLANEOUS PROVISIONS 

Section 7.1 Amendment. 

(a) No amendment, supplement or waiver to the provisions of any Security Document will be effective without the approval of the Collateral
Trustee (solely with respect to amendments of the type described in clauses (2)(A) and (B) below, acting as directed by an Act of Required Secured Parties), and in connection with any of the following, without the approval of the parties
specified therein (which approval should be deemed provided upon such parties delivery of an executed counterpart of such amendment): 

(1) any amendment, supplement or waiver that has the effect solely of: 

(A) adding or maintaining Collateral, securing additional Secured Obligations that are otherwise not prohibited by the terms
of any Secured Debt Document to be secured by the Collateral or preserving, perfecting or establishing the Liens thereon or the rights of the Collateral Trustee therein; or 

(B) providing for the assumption of any Grantor’s obligations under any Secured Debt Document in the case of a merger or
consolidation or sale of all or substantially all of the assets of such Grantor to the extent not prohibited by the terms of any applicable Secured Debt Document, 

  
 29 

 will become effective when (x) executed and delivered to the Collateral Trustee (which
shall sign the same promptly upon receipt) by the Issuer or any other applicable Grantor party thereto and (y) executed by the Collateral Trustee in accordance with the foregoing clause (x); 

(2) no amendment, supplement or waiver that reduces, impairs or adversely affects the right of any Secured Party: 

(A) to vote its outstanding Secured Debt as to any matter described as subject to an Act of Required Secured Parties (or
amends the provisions of this Section 7.1(a)(2) or the definition of “Act of Required Secured Parties”); 

(B) to share in the order of application described in Section 3.4 in the proceeds of enforcement of
or realization on any Collateral that has not been released in accordance with the provisions described in Section 4.1 or 4.4; 

(C) to require that Liens securing Secured Obligations be released only as set forth in the provisions described in
Section 4.1 or 4.4; or 
 (D) under this Section 7.1, 

will become effective without the consent of each Secured Debt Representative (acting in accordance with the applicable Secured Debt Documents)
of each Series of Secured Debt so affected under the applicable Secured Debt Documents; and 
 (3) no amendment or
supplement that imposes any obligation upon the Collateral Trustee or any Secured Debt Representative or adversely affects the rights of the Collateral Trustee or any Secured Debt Representative, respectively, in its capacity as such will become
effective without the consent of the Collateral Trustee or such Secured Debt Representative, respectively. 
 (b) The Collateral Trustee
will not enter into any amendment, supplement or waiver unless it has received an Officer’s Certificate to the effect that such amendment, supplement or waiver will not result in a breach of any provision or covenant contained in the First
Lien/Second Lien Intercreditor Agreement and any of the Secured Debt Documents; provided that this clause (b) shall not apply to any Collateral Trust Agreement Joinder delivered pursuant to Section 7.18. 

(c) Notwithstanding anything to the contrary herein, following the date hereof, the Security Documents and any related documents may be
amended, supplemented and/or waived at the request of the Issuer or at the direction of the Indenture Trustee and the Private Exchange Indenture Trustee, in each case, in accordance with the terms of any applicable Secured Debt Documents without
obtaining an Act of Required Secured Parties if such amendment or waiver is to (x) comply with local law or advice of local counsel, (y) fix ambiguities, omissions or defects or (z) cause this Agreement, such Security Documents or
such other agreements or documents to be consistent with this Agreement and/or one or more Secured Debt Documents, as applicable. 

  
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 (d) For the avoidance of doubt, a Collateral Trust Agreement Joinder (and any amendments or
supplements to the Security Documents required in connection with such Collateral Trust Agreement Joinder) shall not constitute an amendment, supplement or waiver for purposes of this Section 7.1. 

Section 7.2 Voting. In connection with any matter under this Agreement requiring a vote of holders of Secured Debt, each Series of
Secured Debt will cast its votes, or provide the requisite consents, in accordance with the Secured Debt Documents governing such Series of Secured Debt. The amount of Secured Debt to be voted by a Series of Secured Debt will equal (1) the
aggregate principal amount of Secured Debt held by such Series of Secured Debt (including outstanding letters of credit whether or not then available or drawn), plus (2) other than in connection with an exercise of remedies, the
aggregate unfunded commitments to extend credit which, when funded, would constitute Funded Debt of such Series of Secured Debt. Following and in accordance with the outcome of the applicable vote under its Secured Debt Documents, the Secured Debt
Representative of each Series of Secured Debt will cast all of its votes under that Series of Secured Debt as a block in respect of any vote under this Agreement. 

Section 7.3 Further Assurances. 

(a) The Issuer and each of the other Grantors will do or cause to be done all acts and things that may be required, or that the Collateral
Trustee from time to time may reasonably request, to assure and confirm that the Collateral Trustee holds, for its benefit and for the ratable benefit of the other Secured Parties, duly created and enforceable and perfected Liens upon the Collateral
(including any property or assets that are acquired or otherwise become, or are required by any Secured Debt Document to become, Collateral after the date hereof), in each case as contemplated by, and with the Lien priority required under, the
Secured Debt Documents and First Lien/Second Lien Intercreditor Agreement. 
 (b) At time and from time to time, each Grantor will promptly
execute, acknowledge and deliver such security documents, instruments, certificates, notices and other documents, and take such other actions as may be reasonably required, or that the Collateral Trustee may reasonably request, to create, perfect,
protect, assure or enforce the Liens and benefits intended to be conferred, in each case as contemplated by the Secured Debt Documents or Security Documents for its benefit and for the ratable benefit of the other Secured Parties and the First
Lien/Second Lien Intercreditor Agreement. 
 Section 7.4 Successors and Assigns. 

(a) Except as provided in Section 5.2, the Collateral Trustee may not, in its capacity as such, delegate any of its
duties or assign any of its rights hereunder, and any attempted delegation or assignment of any such duties or rights will be null and void. All obligations of the Collateral Trustee hereunder will inure to the sole and exclusive benefit of, and be
enforceable by, each Secured Debt Representative and each present and future holder of Secured Obligations, each of whom will be entitled to enforce this Agreement as a third-party beneficiary hereof, and all of their respective successors and
assigns. 

  
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 (b) Except in connection with a transaction permitted by the applicable Secured Debt
Documents, neither the Issuer nor any other Grantor may delegate any of its duties or assign any of its rights hereunder, and any attempted delegation or assignment of any such duties or rights will be null and void. All obligations of the Issuer
and the other Grantors hereunder will inure to the sole and exclusive benefit of, and be enforceable by, the Collateral Trustee, each Secured Debt Representative and each present and future holder of Secured Obligations, each of whom will be
entitled to enforce this Agreement as a third-party beneficiary hereof, and all of their respective successors and assigns. 

Section 7.5 Delay and Waiver. No failure to exercise, no course of dealing with respect to the exercise of, and no delay in
exercising, any right, power or remedy arising under this Agreement or any of the other Security Documents will impair any such right, power or remedy or operate as a waiver thereof. No single or partial exercise of any such right, power or remedy
will preclude any other or future exercise thereof or the exercise of any other right, power or remedy. The remedies herein are cumulative and are not exclusive of any remedies provided by law. 

Section 7.6 Notices. Any communications, including notices and instructions, between the parties hereto or notices provided herein
to be given may be given to the following addresses: 
 If to the Collateral Trustee: 

Ankura Trust Company, LLC, as Collateral Trustee 

140 Sherman Street, Fourth Floor 

Fairfield, CT 06824 
 Attention:
Krista Gulalo, Beth Micena 
 Email: Krista.Gulalo@ankura.com, Beth.micena@ankura.com 

If to the Issuer or any other Grantor: 

The GEO Group, Inc. 
 4955
Technology Way 
 Boca Raton, Florida 33431 

Attention: Chief Financial Officer 

With a copy to: 
 Akerman LLP

 Three Brickell City Centre 

98 Southeast Seventh Street 

Miami, Florida 33131 

Attention: William Arnhols, Esq. 

  
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 Skadden, Arps, Slate, Meagher & Flom LLP 

One Manhattan West 
 New York,
New York 10001 
 If to the Indenture Trustee or the Private Exchange Notes Indenture Trustee: 

Ankura Trust Company, LLC, as Trustee 

140 Sherman Street, Fourth Floor 

Fairfield, CT 06824 
 Attention:
Krista Gulalo, Beth Micena 
 Email: Krista.Gulalo@ankura.com, Beth.micena@ankura.com 

and if to any other Secured Debt Representative, to such address as it may specify by written notice to the parties named above. 

Any of the foregoing parties may specify a different or an additional address to which notices should be sent under this Agreement by sending
other parties written notice of the new or additional address in the manner provided in this Section. 
 All notices and communications will
be transmitted by electronic mail, telecopy or by first class mail, certified or registered, return receipt requested, or by overnight air courier guaranteeing next day delivery, to the relevant electronic mail address, fax number or address set
forth above or, as to holders of Secured Debt, its contact information shown on the register kept by the office or agency where the relevant Secured Debt may be presented for registration of transfer or for exchange. To the extent applicable, any
notice or communication will also be so transmitted by the Indenture Trustee and the Private Exchange Notes Indenture Trustee to any Person described in § 313(c) of the Trust Indenture Act of 1939, as amended, to the extent applicable and
required thereunder. Failure to transmit a notice or communication to a holder of Secured Debt or any defect in it will not affect its sufficiency with respect to other holders of Secured Debt. 

If a notice or communication is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the addressee
receives it; provided that any notice or communication to the Collateral Trustee, the Indenture Trustee and the Private Exchange Notes Indenture Trustee is duly given when received by it. 

Section 7.7 Notice Following Discharge of Secured Obligations. Promptly following the Discharge of Secured Obligations with
respect to one or more Series of Secured Debt, each Secured Debt Representative with respect to each applicable Series of Secured Debt that is so discharged will provide written notice of such discharge to the Collateral Trustee and to each other
Secured Debt Representative. 
 Section 7.8 Entire Agreement. This Agreement states the complete agreement of the parties
relating to the undertaking of the Collateral Trustee set forth herein and supersedes all oral negotiations and prior writings in respect of such undertaking. 

  
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 Section 7.9 Compensation; Expenses. The Grantors agree to pay, promptly upon
demand: 
 (a) such compensation to the Collateral Trustee and its agents as the Issuer and the Collateral Trustee may agree in writing; and

 (b) jointly and severally, no later than fifteen (15) days after written demand therefor: 

(1) all reasonable, documented out-of-pocket
costs and expenses incurred by the Collateral Trustee and its agents in the preparation, execution, delivery, filing, recordation, administration or enforcement of this Agreement or any other Security Document or any consent, amendment, waiver or
other modification relating hereto or thereto; 
 (2) all reasonable, documented out-of-pocket fees, expenses and disbursements of legal counsel and any auditors, accountants, consultants or appraisers or other professional advisors and agents engaged by the Collateral Trustee incurred in
connection with (i) the negotiation, preparation, closing, administration, performance or enforcement of this Agreement and the other Security Documents (or any consent, amendment, waiver or other modification relating hereto or thereto and any
other document or matter requested by the Issuer or any other Grantor), (ii) the transactions contemplated thereby and (iii) the exercise of rights or performance of obligations of the Collateral Trustee thereunder; provided,
however, that in no event shall the Grantors be obligated to pay fees and expenses for more than one primary counsel to the Collateral Trustee (and up to one local counsel in each applicable jurisdiction and regulatory counsel); 

(3) if applicable, all reasonable, documented
out-of-pocket costs and expenses incurred by the Collateral Trustee and its agents in creating, perfecting, preserving, releasing or enforcing the Collateral
Trustee’s Liens on the Collateral, including filing and recording fees, expenses and taxes, stamp or documentary taxes, search fees, and title insurance premiums; 

(4) subject to the proviso in clause (2), after the occurrence of any Secured Debt Default, all reasonable, documented out-of-pocket costs and expenses incurred by the Collateral Trustee and its agents in connection with the preservation, collection, foreclosure or enforcement of the
Collateral subject to the Security Documents or any interest, right, power or remedy of the Collateral Trustee or in connection with the collection or enforcement of any of the Secured Obligations or the proof, protection, administration or
resolution of any claim based upon the Secured Obligations in any Insolvency or Liquidation Proceeding, including all reasonable, documented out-of-pocket fees and
disbursements of attorneys, accountants, auditors, consultants, appraisers and other professionals engaged by the Collateral Trustee and its agents. 

  
 34 

 The agreements in this Section 7.9 will survive repayment of all
other Secured Obligations and the removal or resignation of the Collateral Trustee. 
 Section 7.10 Indemnity. 

(a) The Grantors jointly and severally agree to defend, indemnify, pay and hold harmless the Collateral Trustee and its Affiliates and each
and all of the directors, officers, partners, trustees, employees, attorneys and agents, and (in each case) their respective heirs, representatives, successors and assigns (each of the foregoing, an “Indemnitee”) from and against
any and all Indemnified Liabilities, regardless of whether such claim is asserted by any Secured Party, Secured Debt Representative or Grantor; provided that no Indemnitee will be entitled to indemnification hereunder with respect to any
Indemnified Liability to the extent such Indemnified Liability is found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from the gross negligence or willful misconduct of such Indemnitee. 

(b) All amounts due under this Section 7.10 will be payable not later than fifteen (15) days upon written
demand therefore. 
 (c) To the extent that the undertakings to defend, indemnify, pay and hold harmless set forth in
Section 7.10(a) may be unenforceable in whole or in part because they violate any law or public policy, each of the Grantors will contribute the maximum portion that it is permitted to pay and satisfy under applicable law
to the payment and satisfaction of all Indemnified Liabilities incurred by Indemnitees or any of them. 
 (d) To the extent permitted by
applicable law, no Grantor shall ever assert, and each Grantor hereby waives, any claim against any Indemnitee, on any theory of liability, for any lost profits or special, indirect or consequential damages or (to the fullest extent a claim for
punitive damages may lawfully be waived) any punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, any Security Documents or any agreement or instrument or transaction contemplated hereby or
relating in any respect to any Indemnified Liability. 
 (e) The agreements in this Section 7.10 will survive
repayment of all other Secured Obligations and the removal or resignation of the Collateral Trustee. 
 Section 7.11
Severability. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any
invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

Section 7.12 Section Headings. The section headings and Table of Contents used in this Agreement are for convenience of reference
only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 

  
 35 

 Section 7.13 Obligations Secured. All obligations of the Grantors set forth in
or arising under this Agreement will be Secured Obligations and are secured by all Liens granted by the Security Documents. 

Section 7.14 Governing Law. This Agreement shall be construed in accordance with and governed by the law of the State of New York.

 Section 7.15 Consent to Jurisdiction; Service of Process. 

(a) Each Grantor hereby irrevocably and unconditionally submits for themselves and their property, to the exclusive jurisdiction of the
federal courts sitting in the Southern District of New York in the State of New York, or if such federal courts do not have jurisdiction, then to the Commercial Division of the state courts residing in the County of New York in the State of New York
(the “Specified Courts”), and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any judgment, and each of the parties hereto hereby
irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such Specified Court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement or any shall affect any right that any party hereto or Secured Party may otherwise have to bring any
action or proceeding relating to this Agreement against any Grantor or its properties in the courts of any jurisdiction. 
 (b) Each party
to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 7.6. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other
manner permitted by law. 
 Section 7.16 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER
THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

Section 7.17 Counterparts. This Agreement may be executed by one or more of the parties to this Agreement on any number of
separate counterparts (including by facsimile or other electronic imaging means), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page of this Agreement by
facsimile or other electronic transmission (e.g. “pdf” or “tif” format) shall be effective as delivery of a manually executed counterpart hereof. The words “execution,” 

  
 36 

 
“signed,” “signature,” “delivery,” and words of like import in or relating to any document to be signed in connection with this Agreement and the transactions
contemplated hereby shall be deemed to include electronic signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical
delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State
Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 

Section 7.18 Additional Grantors. The Issuer will cause each Subsidiary of the Issuer that hereafter becomes a Grantor or is
required by any Secured Debt Document to become a party to this Agreement to become a party to this Agreement, for all purposes of this Agreement, by causing such Subsidiary to execute and deliver to the Collateral Trustee a Collateral Trust
Agreement Joinder, whereupon such Subsidiary will be bound by the terms hereof to the same extent as if it had executed and delivered this Agreement as of the date hereof. 

Section 7.19 Continuing Nature of this Agreement. This Agreement will be reinstated if at any time any payment or distribution in
respect of any of the Secured Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any Secured Party or Secured Debt Representative or any representative of any such party (whether by
demand, settlement, litigation or otherwise). 
 Section 7.20 Insolvency. This Agreement will be applicable both before and
after the commencement of any Insolvency or Liquidation Proceeding by or against any Grantor. The relative rights, as provided for in this Agreement, will continue after the commencement of any such Insolvency or Liquidation Proceeding on the same
basis as prior to the date of the commencement of any such case, as provided in this Agreement. 
 Section 7.21 Rights and
Immunities of Secured Debt Representatives. The Indenture Trustee and the Private Exchange Notes Indenture Trustee will be entitled to all of the rights, protections, immunities and indemnities set forth in the Indenture and the Private Exchange
Notes Indenture, as applicable, and any future Secured Debt Representative will be entitled to all of the rights, protections, immunities and indemnities set forth in the credit agreement, indenture or other agreement governing the applicable
Secured Debt with respect to which such Person will act as representative, in each case as if specifically set forth herein. In no event will any Secured Debt Representative be liable for any act or omission on the part of the Grantors or the
Collateral Trustee hereunder. 
 Section 7.22 Modification of Secured Debt Documents. The Issuer and any other Grantor shall be
permitted to amend, replace, refinance, increase, substitute or modify any other Secured Debt Document or enter into any additional Secured Debt or the applicable Secured Debt Documents, in each case in accordance with the terms of the Secured Debt
Documents. 

  
 37 

 Section 7.23 Confidentiality. 

The Collateral Trustee agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed:

 (a) to its Affiliates and its and their respective directors, officers, employees and agents, including accountants, legal counsel and
other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such 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 Affiliates
(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 to this Agreement; 

(e) in connection with the exercise of any remedies under the Security Documents or any Secured Debt Document or any suit, action or
proceeding relating to the Security Documents or any Secured Debt Document or the enforcement of rights hereunder or thereunder; 
 (f)
subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or beneficiary of, or any prospective assignee of or beneficiary of, any of its rights or obligations under this Agreement or
(ii) any actual or prospective counterparty (or its Affiliates) to any swap, derivative or other transaction relating to the Issuer or its Restricted Subsidiaries (as defined in the applicable Secured Debt Document) and their obligations; 

(g) with the prior written consent of the Issuer; or 

(h) to the extent such Information (i) becomes publicly available other than as a result of a breach of this Section by the disclosing
party or its Affiliates or (ii) becomes available to the Collateral Trustee on a nonconfidential basis from a source other than the Grantors. 

(i) For the purposes of this Section, “Information” means all information received from (or on behalf of) the Issuer or its
Subsidiaries relating to the Issuer, its Subsidiaries or their respective businesses, other than any such information that is available to the Collateral Trustee on a nonconfidential basis prior to disclosure by the Issuer or its Subsidiaries.

Section 7.24 First Lien/Second Lien Intercreditor Agreement. Notwithstanding anything to the contrary set forth herein,
(i) the priority of the Liens created hereby and pursuant to the Security Documents are expressly subject to and subordinate to the Liens granted in favor of the First Priority Secured Parties (as defined in the First Lien/Second Lien

  
 38 

 
Intercreditor Agreement), including the Liens granted to (a) Alter Domus Products Corp., as administrative agent under the Exchange Credit Agreement (as defined in the First Lien/Second Lien
Intercreditor Agreement) or (b) Alter Domus Products Corp., as administrative agent under the Existing Credit Agreement (as defined in the First Lien/Second Lien Intercreditor Agreement), and (ii) the exercise of any right or remedy by the
Collateral Trustee or any other secured party hereunder is subject to the limitations and provisions of the First Lien/Second Lien Intercreditor Agreement. In the event of any inconsistency between the provisions of this Agreement and the First
Lien/Second Lien Intercreditor Agreement, the provisions of the First Lien/Second Lien Intercreditor Agreement shall supersede the provisions of this Agreement. Any provision of this Agreement to the contrary notwithstanding, no Grantor shall be
required to act or refrain from acting in a manner that is inconsistent with the terms and provisions of the First Lien/Second Lien Intercreditor Agreement. 

[Signature Pages Follow] 

  
 39 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective officers or representatives as of the day and year first above written. 
  

			
	[LIST OF GRANTORS]
		
	By:	 	          

		 	Name:
		 	Title:

 [Signature Page – Collateral Trust Agreement] 

 
			
	ANKURA TRUST COMPANY, LLC, as Indenture Trustee
		
	By:	 	 /s/ Krista Gulalo

		 	Name: Krista Gulalo
		 	Title: Managing Director
	
	ANKURA TRUST COMPANY, LLC, as Private Exchange Notes Indenture Trustee
		
	By:	 	 /s/ Krista Gulalo

		 	Name: Krista Gulalo
		 	Title: Managing Director

 [Signature Page – Collateral Trust Agreement] 

 
			
	ANKURA TRUST COMPANY, LLC, as Collateral Trustee
		
	By:	 	 /s/ Krista Gulalo

		 	Name: Krista Gulalo
		 	Title: Managing Director

 [Signature Page – Collateral Trust Agreement] 

 EXHIBIT A 

to Collateral Trust Agreement 

[FORM OF] 
 ADDITIONAL
SECURED DEBT DESIGNATION 
 ___, 20___ 

Reference is made to the Second Lien Collateral Trust Agreement dated as of August 19, 2022 (as amended, supplemented, amended and
restated or otherwise modified and in effect from time to time, the “Collateral Trust Agreement”), among The GEO Group, Inc., a Delaware corporation (the “Issuer”), the other Grantors from time to time party
thereto, Ankura Trust Company, LLC, as Indenture Trustee, Ankura Trust Company, LLC, as Private Exchange Notes Indenture Trustee and Ankura Trust Company, LLC, as second lien collateral trustee (in such capacity, the “Collateral
Trustee”). Capitalized terms used but not otherwise defined herein have the meanings assigned to them in the Collateral Trust Agreement. This Additional Secured Debt Designation is being executed and delivered in order to designate
additional secured debt as either Secured Debt entitled to the benefit of the Collateral Trust Agreement. 
 The undersigned, the duly
appointed [specify title] of the Issuer hereby certifies on behalf of the Issuer, in [his/her] capacity as an [officer] of the Issuer and not in [his/her] individual capacity, that: 

(1) [insert name of Grantor] intends to incur additional Secured Debt (“Additional Secured Debt”)
permitted by each applicable Secured Debt Document to be secured by a Priority Lien equally and ratably with all previously existing and future Secured Debt; 

(2) the name and address of the Secured Debt Representative for the Additional Secured Debt for purposes of Section 7.6
of the Collateral Trust Agreement is: 
  

	
	                                      
                      
	
	                                      
                      
	
	Telephone:
                                         
 
	
	Fax:
                                         
            

  
 Exh. A-1 

 (3) Each Grantor has duly authorized and executed (if applicable) all
relevant documents, filings and recordations to ensure that the Additional Secured Debt is secured by such Grantor’s right, title and interest in the Collateral in accordance with the Security Documents; 

(4) Attached as Exhibit 1 hereto is a Reaffirmation Agreement duly executed by each Grantor. 

IN WITNESS WHEREOF, this Additional Secured Debt Designation is duly executed by the undersigned as of the date first written above. 

 

			
	THE GEO GROUP, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exh. A-2 

 ACKNOWLEDGEMENT OF RECEIPT 

The undersigned, the duly appointed Collateral Trustee under the Collateral Trust Agreement, hereby acknowledges receipt of an executed copy
of this Additional Secured Debt Designation. 
  

			
	 ANKURA TRUST COMPANY, LLC, as

Collateral Trustee

		
	By:	 	  

		 	Name:
		 	Title:

  
 Exh. A-3 

 EXHIBIT 1 

TO ADDITIONAL SECURED DEBT DESIGNATION 

[FORM OF] 
 REAFFIRMATION
AGREEMENT 
 Reference is made to the Second Lien Collateral Trust Agreement, dated as of August 19, 2022 (as amended,
supplemented, amended and restated or otherwise modified and in effect from time to time, the “Collateral Trust Agreement”; capitalized terms used but not otherwise defined herein have the meanings assigned to them in the Collateral
Trust Agreement), among The GEO Group, Inc., a Delaware corporation (the “Issuer”), the other Grantors from time to time party thereto, Ankura Trust Company, LLC, as Indenture Trustee, Ankura Trust Company, LLC, as Private Exchange
Notes Indenture Trustee and Ankura Trust Company, LLC, as second lien collateral trustee (in such capacity, the “Collateral Trustee”). This Reaffirmation Agreement is being executed and delivered as of the date first written above
in connection with an Additional Secured Debt Designation of even date herewith (the “Additional Secured Debt Designation”) by the Issuer and acknowledged by the Collateral Trustee, which Additional Secured Debt Designation has
designated Additional Secured Debt (as defined therein) issued under the [agreement governing the Additional Secured Debt] as Secured Debt entitled to the benefit of the Collateral Trust Agreement. 

(1) Each of the undersigned hereby consents to the designation of Additional Secured Debt as Secured Debt as set forth in the Additional
Secured Debt Designation of even date herewith and hereby confirms its respective guarantees, pledges, charges, assignments, grants of security interests and other obligations, as applicable, under and subject to the terms of each Security Document
and each Secured Debt Document, in each case, to which it is party, and agrees that, notwithstanding the designation of such additional indebtedness or any of the transactions contemplated thereby, such guarantees, pledges, charges, assignments,
grants of security interests and other obligations, and the terms of each Security Document and each Secured Debt Document, in each case, to which it is party, are not impaired or adversely affected in any manner whatsoever and shall continue to be
in full force and effect and such Additional Secured Debt shall be entitled to all of the benefits of such Security Document or Secured Debt Document, as the case may be. 

(2) In furtherance thereof, each of the undersigned that is party to the Collateral Agreement (as defined below) hereby grants to the
Collateral Trustee, for its benefit and for the ratable benefit of the other Secured Parties, a security interest in all of its right, title and interest in the Collateral (as such term is defined in that certain Collateral Agreement, dated as of
August 19, 2022 (as amended, supplemented, amended and restated or otherwise modified and in effect from time to time, the “Collateral Agreement”), among the Grantors from time to time party thereto and the Collateral Trustee,
to secure the prompt and complete payment and performance of the Secured Obligations (as defined in the Collateral Trust Agreement), including, in any event, all Obligations in connection with the Additional Secured Debt under the [agreement
governing the Additional Secured Debt]. 

  
 Exh. 1-1 

 (3) In furtherance thereof, each of the undersigned that is party to the [IP Security
Agreement] (as defined below) hereby grants to the Collateral Trustee, for its benefit and for the ratable benefit of the other Secured Parties, a security interest in all of its right, title and interest in the [Collateral] (as defined in that
certain [Intellectual Property Pledge and Security Agreement], dated as of [ ], 2022 (as amended, supplemented, amended and restated or otherwise modified and in effect from time to time, the “IP Security Agreement”), among
the Grantors from time to time party thereto and the Collateral Trustee) to secure the prompt and complete payment and performance of the Secured Obligations (as defined in the Collateral Trust Agreement), including, in any event, all Obligations in
connection with the Additional Secured Debt under the [agreement governing the Additional Secured Debt]. 
 (4) Each Grantor hereby
agrees to file all financing statements describing the Collateral owned by such Grantor and other documents and take such other actions as may be required from time to time (in all cases in accordance with and to the extent required by the
Collateral Trust Agreement and the applicable Security Documents) in order to maintain a perfected security interest in and, if applicable control of, the Collateral owned by such Grantor, subject to Liens permitted under all of the Secured Debt
Documents, and to provide evidence of such filings to the Collateral Trustee. Such financing statements may describe the Collateral in the same manner as described herein or may contain an indication or description of collateral that describes such
property in any other manner as is necessary, advisable or prudent to ensure that the perfection of the security interest in the Collateral granted to the Collateral Trustee herein, including, without limitation, describing such property as
“all assets of the Debtor whether now owned or hereafter acquired and wheresoever located, including all accessions thereto and proceeds thereof” or using words of similar import. Each Grantor will, at its own expense, take any and all
actions necessary to defend title to any material portion of the Collateral owned by such Grantor against all persons and to defend the security interest of the Collateral Trustee in such Collateral and the priority thereof against any Lien not
expressly permitted hereunder. 
 (5) Governing Law and Miscellaneous Provisions. The provisions of Article VII of the
Collateral Trust Agreement will apply with like effect to this Reaffirmation Agreement. 
 [Signature Page Follows] 

  
 Exh. 1-2 

 IN WITNESS WHEREOF, each of the undersigned has caused this Reaffirmation Agreement to be
duly executed as of the date written above. 
  

			
	[NAMES OF GRANTORS]
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exh. 1-3 

 ACKNOWLEDGEMENT OF RECEIPT 

The undersigned, the duly appointed Collateral Trustee under the Collateral Trust Agreement, hereby acknowledges receipt of an executed copy
of this Reaffirmation Agreement. 
  

			
	 ANKURA TRUST COMPANY, LLC, as

Collateral Trustee

		
	By:	 	  

		 	Name:
		 	Title:

  
 Exh. 1-4 

 EXHIBIT B 

to Collateral Trust Agreement 

[FORM OF] 
 COLLATERAL
TRUST AGREEMENT JOINDER – ADDITIONAL SECURED DEBT 
 _____, 20__ 

Reference is made to the Second Lien Collateral Trust Agreement dated as of August 19, 2022 (as amended, supplemented, amended and
restated or otherwise modified and in effect from time to time, the “Collateral Trust Agreement”) among The GEO Group, Inc., as Delaware corporation (the “Issuer”), the other Grantors from time to time party
thereto, Ankura Trust Company, LLC, as Indenture Trustee, Ankura Trust Company, LLC, as Private Exchange Notes Indenture Trustee, and Ankura Trust Company, LLC, as second lien collateral trustee (in such capacity, the “Collateral
Trustee”). Capitalized terms used but not otherwise defined herein have the meanings assigned to them in the Collateral Trust Agreement. This Collateral Trust Agreement Joinder is being executed and delivered pursuant to Section 3.8 of
the Collateral Trust Agreement as a condition precedent to the debt for which the undersigned is acting as [trustee][agent][other capacity] being entitled to the benefits of being Additional Secured Debt under the Collateral Trust Agreement. 

1. Joinder. The undersigned, _____________________, a _______________, (the “New Representative”) as [trustee,
administrative agent] under that certain [described applicable indenture, credit agreement or other document governing the Additional Secured Debt] hereby (a) represents that it is the [trustee/agent or other capacity] of [describe
creditors] and (b) agrees to become party as a Secured Debt Representative under the Collateral Trust Agreement for all purposes thereof on the terms set forth therein, and to be bound by the terms of the Collateral Trust Agreement as fully as
if the undersigned had executed and delivered the Collateral Trust Agreement as of the date thereof. 
 2. Lien Sharing and Priority
Confirmation. 
 The undersigned New Representative, on behalf of itself and each holder of Obligations in respect of the Series of
Secured Debt for which the undersigned is acting as Secured Debt Representative hereby agrees, for the enforceable benefit of all holders of each existing and future Series of Secured Debt, each other existing and future Secured Debt Representative
and each current and future Secured Party and as a condition to being treated as Secured Debt under the Collateral Trust Agreement that: 

(a) as provided by Section 2.2 of the Collateral Trust Agreement, all Secured Obligations will be and are secured equally
and ratably by all Priority Liens at any time granted by any Grantor to secure any Obligations in respect of any Series of Secured Debt, whether or not upon property otherwise constituting collateral for such Series of Secured Debt, and that all
such Priority Liens will be enforceable by the Collateral Trustee for its benefit and for the benefit of all other Secured Parties equally and ratably provided however, that notwithstanding the foregoing, this provision will not be violated with
respect to any particular Collateral and any particular Series of Secured Debt if the Secured Debt Documents in respect thereof prohibit the applicable Secured Parties from accepting the benefit of a Lien on any particular asset or property or such
Secured Party otherwise expressly declines in writing to accept the benefit of a Lien on such asset or property; 

  
 Exh. B-1 

 (b) the New Representative and each holder of Obligations in respect of the
Series of Secured Debt for which the undersigned is acting as Secured Debt Representative are bound by the provisions of this Agreement, including the provisions relating to the ranking of Priority Liens and the order of application of proceeds from
the enforcement of Priority Liens; 
 (c) it reaffirms the appointment of and appoints Ankura Trust Company, LLC to serve as
Collateral Trustee under the Collateral Trust Agreement for itself and all other current and future Secured Parties under the Collateral Trust Agreement on the terms and conditions set forth therein; and 

(d) the Collateral Trustee shall perform its obligations under the Collateral Trust Agreement and the other Security Documents.

 3. Governing Law and Miscellaneous Provisions. The provisions of Article VII of the Collateral Trust Agreement will apply
with like effect to this Collateral Trust Agreement Joinder. 

  
 Exh. B-2 

 IN WITNESS WHEREOF, the parties hereto have caused this Collateral Trust Agreement Joinder
to be executed by their respective officers or representatives as of the date first written above. 
  

			
	[INSERT NAME OF THE NEW REPRESENTATIVE], as [indicate capacity]
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exh. B-3 

 The Collateral Trustee hereby acknowledges receipt of this Collateral Trust Agreement Joinder and agrees to
act as Collateral Trustee for the New Representative, the holders of the Obligations represented thereby and all other Secured Parties: 
  

			
	 ANKURA TRUST COMPANY, LLC, as

Collateral Trustee

		
	By:	 	  

		 	Name:
		 	Title:

  
 Exh. B-4 

 EXHIBIT C 

to Collateral Trust Agreement 

[FORM OF] 
 COLLATERAL
TRUST AGREEMENT JOINDER – ADDITIONAL GRANTOR 
 ______, 20__ 

Reference is made to the Second Lien Collateral Trust Agreement dated as of August 19, 2022 (as amended, supplemented, amended and
restated or otherwise modified and in effect from time to time, the “Collateral Trust Agreement”) among The GEO Group, Inc., a Delaware corporation (the “Issuer”), the other Grantors from time to time party thereto,
Ankura Trust Company, LLC, as Indenture Trustee, Ankura Trust Company, LLC, as Private Exchange Notes Indenture Trustee, and Ankura Trust Company, LLC, as second lien collateral trustee (in such capacity, the “Collateral Trustee”).
Capitalized terms used but not otherwise defined herein have the meanings assigned to them in the Collateral Trust Agreement. This Collateral Trust Agreement Joinder is being executed and delivered pursuant to Section 7.18 of the Collateral
Trust Agreement. 
 1. Joinder. The undersigned, _____________________, a _______________ (the “New Grantor”),
hereby agrees to become party as a “Grantor” under the Collateral Trust Agreement for all purposes thereof on the terms set forth therein, and to be bound by the terms of the Collateral Trust Agreement as fully as if the undersigned
had executed and delivered the Collateral Trust Agreement as of the date thereof. 
 2. Governing Law and Miscellaneous Provisions.
The provisions of Article VII of the Collateral Trust Agreement will apply with like effect to this Collateral Trust Agreement Joinder. 

  
 Exh. E-1 

 IN WITNESS WHEREOF, the New Grantor has caused this Collateral Trust Agreement Joinder to be
executed by its officers or other representatives as of the date first written above. 
  

			
	[__________________________________]
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exh. E-2 

 The Collateral Trustee hereby acknowledges receipt of this Collateral Trust Agreement Joinder and agrees to
act as Collateral Trustee with respect to the Collateral pledged by the new Grantor: 
  

			
	 ANKURA TRUST COMPANY, LLC, as

Collateral Trustee

		
	By:	 	  

		 	Name:
		 	Title:

  
 Exh. E-3EX-10.6

 Exhibit 10.6 

EXECUTION VERSION 
 FIRST
LIEN/SECOND LIEN INTERCREDITOR AGREEMENT 
 dated as of August 19, 2022 

among 
 ALTER DOMUS PRODUCTS
CORP., 
 as Exchange Credit Facility Agent for the Exchange Credit Facility Secured Parties, 

ALTER DOMUS PRODUCTS CORP., 
 as
Existing Credit Facility Agent for the Existing Credit Facility Secured Parties, 
 ANKURA TRUST COMPANY, LLC, 

as Second Lien Secured Notes Collateral Trustee 

each additional Representative from time to time party hereto 

and acknowledged by 
 THE GEO
GROUP, INC. 
 and 
 GEO
CORRECTIONS HOLDINGS, INC., 
 as Borrowers, 

and the other Grantors party hereto. 
  

 FIRST LIEN/SECOND LIEN INTERCREDITOR AGREEMENT, dated as of August 19, 2022 (this
“Agreement”), among Alter Domus Products Corp., as Representative for the Exchange Credit Facility Secured Parties (in such capacity and together with its permitted successors in such capacity, the “Exchange Credit Facility
Agent”), Alter Domus Products Corp., as Representative for the Existing Credit Facility Secured Parties (in such capacity and together with its permitted successors in such capacity, the “Existing Credit Facility Agent”),
Ankura Trust Company, LLC, as Representative for the Second Priority Secured Parties (the “Second Lien Secured Notes Collateral Trustee”), and each additional First Priority Representative and each additional Second Priority
Representative that from time to time becomes a party hereto pursuant to Section 8.09, and acknowledged and agreed to by The GEO Group, Inc., a Florida corporation (“GEO”), GEO Corrections Holdings, Inc., a
Florida Corporation (“Corrections” and, with GEO, each a “Borrower” and collectively the “Borrowers”), and the other Grantors party hereto (as defined below). 

In consideration of the mutual agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Exchange Credit Facility Agent (for itself and on behalf of the Exchange Credit Facility Secured Parties), the Existing Credit Facility Agent (for itself and on behalf of the Existing Credit Facility Secured Parties), the
Second Lien Secured Notes Collateral Trustee (for itself and on behalf of the Second Priority Secured Parties) and each additional First Priority Representative (for itself and on behalf of the Additional First Priority Secured Parties under the
applicable Additional First Priority Debt Facility) and each additional Second Priority Representative (for itself and on behalf of the Additional Second Priority Secured Parties under the applicable Additional Second Priority Debt Facility) agree
as follows: 
 ARTICLE 1 

DEFINITIONS 

SECTION 1.01. Certain Defined Terms. Capitalized terms used but not otherwise defined herein have the meanings set forth in
the Exchange Credit Agreement or, if defined in the UCC, the meanings specified therein. As used in this Agreement, the following terms have the meanings specified below: 

“Additional First Priority Debt” means any Indebtedness that is incurred, issued or guaranteed by any Borrower and/or any
other Guarantor (other than Indebtedness constituting Exchange Credit Facility Obligations and the Existing Credit Facility Obligations) which Indebtedness and Guarantees are secured by Liens on the First Priority Collateral (or a portion thereof)
having senior priority to the Liens securing the Second Priority Debt Obligations; provided, however, that (i) when incurred, secured and guaranteed, including when refinanced or increased, such Indebtedness is expressly permitted
to be so incurred, secured and guaranteed on such basis by each then existing First Priority Debt Document and Second Priority Debt Document and (ii) the Representative for the holders of such Indebtedness shall have become party to this
Agreement pursuant to, and by satisfying the conditions set forth in, Section 8.09 hereof and the First Lien Pari Passu Intercreditor Agreement. Additional First Priority Debt shall include any Registered Equivalent Notes
and Guarantees thereof by the Guarantors issued in exchange therefor. 
 “Additional First Priority Debt Documents” means,
with respect to any series, issue or class of Additional First Priority Debt, the promissory notes, credit agreements, loan agreements, indentures, or other operative agreements evidencing or governing such Indebtedness or the guarantees of or Liens
securing such Indebtedness, including the First Priority Collateral Documents. 
 “Additional First Priority Debt Facility”
means each credit agreement, loan agreement, note purchase agreement, indenture or other governing agreement with respect to any Additional First Priority Debt. 

  
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 “Additional First Priority Debt Obligations” means, with respect to any
series, issue or class of Additional First Priority Debt, (i) all amounts payable in respect of principal of, and premium and interest, fees, and expenses (including, without limitation, any interest, fees, and expenses which accrue after the
commencement of any Insolvency or Liquidation Proceeding or which would accrue but for the operation of Bankruptcy Laws, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Additional First Priority
Debt, (ii) all other amounts payable to the related Additional First Priority Secured Parties under the related Additional First Priority Debt Documents, and (iii) any Refinancings of any of the foregoing. 

“Additional First Priority Secured Parties” means, with respect to any series, issue or class of Additional First Priority
Debt, the holders of such Indebtedness or any other Additional First Priority Debt Obligation, the Representative with respect thereto, any trustee or agent therefor under any related Additional First Priority Debt Documents and the beneficiaries of
each indemnification obligation undertaken by any Borrower or any Grantor under any related Additional First Priority Debt Documents. 

“Additional Second Priority Debt” means any Indebtedness that is incurred, issued or guaranteed by either Borrower, and/or
any other Grantor (other than Indebtedness constituting Initial Second Lien Debt Obligations) which Indebtedness and Guarantees are secured by Liens on the Second Priority Collateral (or a portion thereof) having junior priority to the Liens
securing the First Priority Obligations; provided, however, that (i) when incurred, secured and guaranteed, including when refinanced or increased, such Indebtedness is expressly permitted to be so incurred, secured and guaranteed
on such basis by each then existing First Priority Debt Document and Second Priority Debt Document, and (ii) the Representative for the holders of such Indebtedness shall have become party to this Agreement pursuant to, and by satisfying the
conditions set forth in, Section 8.09 hereof and the Second Lien Collateral Trust Agreement. Additional Second Priority Debt shall include any Registered Equivalent Notes and Guarantees thereof by the Guarantors issued in
exchange therefor. 
 “Additional Second Priority Debt Documents” means, with respect to any series, issue or class of
Additional Second Priority Debt, the promissory notes, credit agreements, loan agreements, note purchase agreements, indentures or other operative agreements evidencing or governing such Indebtedness or the guarantees of or Liens securing such
Indebtedness, including the Second Priority Collateral Documents. 
 “Additional Second Priority Debt Facility” means each
credit agreement, loan agreement, note purchase agreement, indenture or other governing agreement with respect to any Additional Second Priority Debt. 

“Additional Second Priority Debt Obligations” means, with respect to any series, issue or class of Additional Second Priority
Debt, (i) all amounts payable in respect of principal of, and premium and interest, fees, and expenses (including, without limitation, any interest, fees, and expenses which accrue after the commencement of any Insolvency or Liquidation
Proceeding or which would accrue but for the operation of Bankruptcy Laws, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Additional Second Priority Debt, (ii) all other amounts payable to
the related Additional Second Priority Secured Parties under the related Additional Second Priority Debt Documents, and (iii) any Refinancings of any of the foregoing. 

“Additional Second Priority Secured Parties” means, with respect to any series, issue or class of Additional Second Priority
Debt, the holders of such Indebtedness or any other Additional Second Priority Debt Obligation, the Representative with respect thereto, any trustee or agent therefor under any related Additional Second Priority Debt Documents and the beneficiaries
of each indemnification obligation undertaken by either Borrower or any Grantor under any related Additional Second Priority Debt Documents. 

  
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 “Agreement” has the meaning assigned to such term in the introductory
paragraph of this Agreement. 
 “Bankruptcy Code” means Title 11 of the United States Code, as amended. 

“Bankruptcy Laws” means the Bankruptcy Code, and any other liquidation, conservatorship, bankruptcy, assignment for the
benefit of creditors, marshalling of the assets and liabilities, moratorium, rearrangement, receivership, insolvency, reorganization, or similar federal, state or foreign debtor relief laws of the United States or other applicable jurisdictions from
time to time in effect. 
 “Borrower” and “Borrowers” have the meaning assigned to such terms in the
introductory paragraph of this Agreement. 
 “Business Day” means, for all purposes, any day that is not a Saturday, Sunday
or other day on which commercial banks in New York City are authorized or required by law to remain closed. 

“Class Debt” has the meaning assigned to such term in Section 8.09. 

“Class Debt Parties” has the meaning assigned to such term in Section 8.09. 

“Class Debt Representatives” has the meaning assigned to such term in
Section 8.09. 
 “Collateral” means the First Priority Collateral and the Second Priority
Collateral. 
 “Collateral Documents” means the First Priority Collateral Documents and the Second Priority Collateral
Documents. 
 “Common Collateral” means Collateral that is subject to (a) Liens in favor of the Existing Credit
Facility Agent for the benefit of the Existing Credit Facility Secured Parties to the extent required to be pledged under the Existing Credit Agreement pursuant to the terms thereof, (b) Liens in favor of the Exchange Credit Facility Agent for
the benefit of the Exchange Credit Facility Secured Parties to the extent required to be pledged under the Existing Credit Agreement pursuant to the terms thereof, and (c) Liens in favor of the Second Lien Secured Notes Collateral Trustee for
the benefit of the Second Priority Secured Parties to the extent required to be pledged under the Initial Second Lien Debt Documents and Additional Second Priority Debt Documents pursuant to the terms thereof. 

“Debt Facility” means any First Priority Debt Facility and any Second Priority Debt Facility. 

“Designated First Priority Representative” means (i) the “Applicable Representative” as defined in the
First Lien Pari Passu Intercreditor Agreement or any comparable designated entity under any successor agreement to the First Lien Pari Passu Intercreditor Agreement or (ii) in the case that no First Lien Intercreditor Agreement or any successor
thereto is then in effect, the remaining First Priority Representative. 

  
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 “Designated Second Priority Representative” means (i) the
“Collateral Trustee” as defined in the Second Lien Collateral Trust Agreement or any comparable designated entity under any successor agreement to the Second Lien Collateral Trust Agreement or (ii) at any time when the Second Lien
Collateral Trust Agreement or any successor thereto is not in effect, the Second Priority Representative designated from time to time in a written notice to the First Priority Representatives by the Second Priority Representatives for Second
Priority Debt Obligations constituting a majority in the aggregate principal amount of the outstanding Second Priority Debt Obligations. 

“DIP Financing” has the meaning assigned to such term in Section 6.01. 

“Discharge of First Priority Obligations” means, except to the extent otherwise expressly provided in
Section 5.06 and Section 6.04, 
 (a) payment in full in cash of all
First Priority Obligations (other than any indemnification obligations for which no claim has been asserted and any other First Priority Obligations not required to be paid in full in order to have the Liens on all Collateral securing such First
Priority Obligations released at such time in accordance with the applicable First Priority Debt Documents); 
 (b)
termination or expiration of all commitments, if any, to extend credit that would constitute First Priority Obligations; and 

(c) termination of all letters of credit, if any, issued under the First Priority Debt Documents or providing cash collateral
or backstop letters of credit on terms specified in the applicable First Priority Debt Documents or otherwise acceptable to the applicable First Priority Representative or issuing bank in an amount and in a manner specified in the applicable First
Priority Debt Documents or otherwise satisfactory to the applicable First Priority Representative and issuing bank (in their sole discretion). 

“Disposition” means any conveyance, sale, lease, assignment, transfer, license or other disposition. 

“Exchange Credit Agreement” means that certain credit agreement, dated as of the date hereof, among the Borrowers, the
Guarantors, the Exchange Credit Facility Agent and the lenders party thereto from time to time (as amended, restated, amended and restated, supplemented, modified or otherwise Refinanced from time to time). 

“Exchange Credit Facility Agent” has the meaning assigned to such term in the introductory paragraph of this Agreement and
shall include any successor administrative agent and collateral agent as provided in Article VIII of the Exchange Credit Agreement. 

“Exchange Credit Facility Documents” means the Exchange Credit Agreement and the other “Loan Documents” as defined
in the Exchange Credit Agreement. 
 “Exchange Credit Facility Obligations” means the “Obligations” under and as
defined in the Exchange Credit Agreement. 
 “Exchange Credit Facility Secured Parties” means the “Secured
Parties” under the Exchange Credit Agreement. 
 “Exclusive Collateral” means Collateral (excluding Common Collateral)
that is subject to (a) Liens in favor of the Exchange Credit Facility Agent for the benefit of the Exchange Credit Facility Secured Parties (other than the holders of Tranche 3 Loans) to the extent required to be pledged under the Exchange
Credit Agreement pursuant to the terms thereof and (b) Liens in favor of the Second Lien Secured 

  
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Notes Collateral Trustee for the benefit of the Second Priority Secured Parties to the extent required to be pledged under the Initial Second Lien Debt Documents and Additional Second Priority
Debt Documents pursuant to the terms thereof. For the avoidance of doubt, the Existing Credit Facility Obligations and Tranche 3 Loans are not secured by Liens on Exclusive Collateral. 

“Existing Credit Agreement” means that certain Third Amended and Restated Credit Agreement, dated as of March 23, 2017,
among the Borrowers, the Existing Credit Facility Agent, GEO Australasia Holdings Pty Ltd., GEO Australasia Finance Holdings Pty Ltd., in its capacity as trustee for the GEO Australasia Finance Holding Trust, and the lenders party thereto from time
to time (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, including pursuant to those certain Amendment Nos. 4 and 5). 

“Existing Credit Facility Agent” has the meaning assigned to such term in the introductory paragraph of this Agreement and
shall include any successor administrative agent and collateral agent as provided in Article VIII of the Existing Credit Agreement. 

“Existing Credit Facility Documents” means the Existing Credit Agreement and the other “Loan Documents” as defined
in the Existing Credit Agreement. 
 “Existing Credit Facility Obligations” means the “Obligations” under and as
defined in the Existing Credit Agreement. 
 “Existing Credit Facility Secured Parties” means the “Secured
Parties” under the Existing Credit Agreement. 
 “First Lien Pari Passu Intercreditor Agreement” means that certain
First Lien Pari Passu Intercreditor Agreement, dated as of the date hereof, among the Exchange Credit Facility Agent, the Existing Credit Facility Agent, the Borrowers, and the other Guarantors, (as amended, restated, amended and restated,
supplemented, or modified from time to time). 
 “First Priority Class Debt” has the meaning assigned to
such term in Section 8.09. 
 “First Priority Class Debt Parties” has the
meaning assigned to such term in Section 8.09. 
 “First Priority Class Debt
Representative” has the meaning assigned to such term in Section 8.09. 
 “First Priority
Collateral” means any “Collateral” (or equivalent term) as defined in any First Priority Debt Document or any other assets of any Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted
pursuant to a First Priority Collateral Document as security for any First Priority Obligations. 
 “First Priority Collateral
Documents” means the “Collateral Documents” as defined in the Exchange Credit Agreement and the Existing Credit Agreement, and each of the security agreements and other instruments and documents executed and delivered by either
Borrower or any other Grantor pursuant to which Liens are granted by either Borrower or any other Grantor to secure any First Priority Obligation. 

“First Priority Debt Documents” means the Exchange Credit Facility Documents, the Existing Credit Facility Documents, and any
Additional First Priority Debt Documents. 

  
 5 

 “First Priority Debt Facilities” means the Exchange Credit Agreement, the
Existing Credit Agreement, and any Additional First Priority Debt Facilities. 
 “First Priority Lien” means the Liens on
the First Priority Collateral in favor of the First Priority Secured Parties under the First Priority Collateral Documents. 

“First Priority Obligations” means the Exchange Credit Facility Obligations, the Existing Credit Facility Obligations and any
Additional First Priority Debt Obligations. 
 “First Priority Representative” means (i) in the case of any Exchange
Credit Facility Obligations or the Exchange Credit Facility Secured Parties, the Exchange Credit Facility Agent, (ii) in the case of any Existing Credit Facility Obligations or the Existing Credit Facility Secured Parties, the Existing Credit
Facility Agent and (iii) in the case of any Additional First Priority Debt Facility and the Additional First Priority Secured Parties thereunder, the trustee, administrative agent, collateral agent, security agent or similar agent under such
Additional First Priority Debt Facility that is named as the Representative in respect of such Additional First Priority Debt Facility in the applicable Joinder Agreement. 

“First Priority Secured Parties” means the Exchange Credit Facility Secured Parties, the Existing Credit Facility Secured
Parties, and any Additional First Priority Secured Parties. 
 “Grantors” means each Borrower and each Subsidiary (or other
Person) that has granted a security interest pursuant to any Collateral Document (including any Subsidiary or Person that acknowledges this Agreement as contemplated by Section 8.07) to secure any Secured Obligations. 

“Guarantors” has the meaning assigned to such term in the Exchange Credit Agreement. 

“Initial Second Lien Debt Agreements” means, collectively, the Private Notes Indenture and the Public Notes Indenture. 

“Initial Second Lien Debt Documents” means the Initial Second Lien Debt Agreements, the Second Lien Collateral Trust
Agreement, and the other “Note Documents” as defined in the respective Initial Second Lien Debt Agreements. 
 “Initial
Second Lien Debt Obligations” means the “Secured Obligations” under and as defined in the Second Lien Collateral Trust Agreement. 

“Initial Second Lien Representative” means the Second Lien Secured Notes Collateral Trustee. 

“Initial Second Priority Debt Secured Parties” means the “Secured Parties” as defined in the Second Lien Collateral
Trust Agreement. 
 “Insolvency or Liquidation Proceeding” means: 

(1) any case or proceeding commenced by or against any Borrower or any other Grantor under any Bankruptcy Law, any other
proceeding for the reorganization, recapitalization or adjustment or marshalling of the assets or liabilities of either Borrower or any other Grantor, any receivership or assignment for the benefit of creditors relating to the Borrower or any other
Grantor or any similar case or proceeding relative to either Borrower or any other Grantor or its creditors, as such, in each case whether or not voluntary; 

  
 6 

 (2) any liquidation, dissolution, marshalling of assets or liabilities or
other winding up of or relating to either Borrower or any other Grantor, in each case whether or not voluntary and whether or not involving bankruptcy or insolvency; or 

(3) any other proceeding of any type or nature in which substantially all claims of creditors of either Borrower or any other
Grantor are determined and any payment or distribution is or may be made on account of such claims. 
 “Joinder Agreement”
means a supplement to this Agreement in the form of Annex II or Annex III hereof required to be delivered by a Representative to the Designated First Priority Representative and Designated Second Priority Representative pursuant to
Section 8.09 hereof in order to include an additional Debt Facility hereunder and to become the Representative hereunder for the First Priority Secured Parties or Second Priority Secured Parties, as the case may be, under
such additional Debt Facility. 
 “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien,
pledge, hypothecation, encumbrance, collateral assignment, charge or security interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any
financing lease having substantially the same economic effect as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such securities, other
than customary rights of a third party to acquire Equity Interests in a Subsidiary pursuant to an agreement for a sale of such Equity Interests expressly permitted under each then existing First Priority Debt Document and Second Priority Debt
Document. 
 “Officer’s Certificate” means a certificate of a Responsible Officer of a Borrower or Grantor, as the
case may be. 
 “Person” means any natural person, corporation, limited liability company, trust, joint venture,
association, company, partnership, Governmental Authority or other entity. 
 “Plan of Reorganization” means any plan of
reorganization, plan of liquidation, plan of arrangement, agreement for composition, or other type of dispositive restructuring plan proposed in or in connection with any Insolvency or Liquidation Proceeding. 

“Pledged or Controlled Collateral” has the meaning assigned to such term in Section 5.05(a). 

“Private Notes Indenture” means that certain Indenture, dated as of the date hereof, among GEO, the guarantors party thereto
and the Private Second Lien Secured Notes Trustee. 
 “Private Second Lien Secured Notes Trustee” means Ankura Trust
Company, LLC, in its capacity as indenture trustee for the holders of the Private Second Lien Secured Notes, or its permitted successor in such capacity. 

“Private Second Lien Secured Notes” means the 9.500% senior second lien secured notes due 2028 issued by GEO on the date
hereof pursuant to the Private Notes Indenture. 
 “Proceeds” means the proceeds of any sale, collection or other
liquidation of Shared Collateral and any payment or distribution made in respect of Shared Collateral in an Insolvency or Liquidation Proceeding and any amounts received by any First Priority Representative or any First Priority Secured Party from a
Second Priority Secured Party in respect of Shared Collateral pursuant to this Agreement or any other intercreditor agreement. 

  
 7 

 “Public Notes Indenture” means that certain Indenture, dated as of the date
hereof, among GEO, the guarantors party thereto and the Public Second Lien Secured Notes Trustee. 
 “Public Second Lien
Notes” means the 10.500% senior second lien secured notes due 2028 issued by GEO on the date hereof pursuant to the Public Notes Indenture. 

“Public Second Lien Notes Trustee” means Ankura Trust Company, LLC, in its capacity as indenture trustee for the holders of
the Public Second Lien Secured Notes, or its permitted successor in such capacity. 
 “Purchase Event” has the meaning
assigned to such term in Section 5.07. 
 “Recovery” has the meaning assigned to such term
in Section 6.04. 
 “Refinance” means, in respect of any Indebtedness, to refinance, extend,
renew, defease, amend, increase, modify, supplement, restructure, refund, replace or repay such Indebtedness, or to issue other Indebtedness or enter alternative financing arrangements, in exchange or replacement for such Indebtedness (in whole or
in part), including by adding or replacing lenders, creditors, agents, borrowers and/or guarantors, and including in each case, but not limited to, after the original instrument giving rise to such Indebtedness has been terminated and including, in
each case, through any credit agreement, loan agreement, note purchase agreement, indenture or other agreement. “Refinanced” and “Refinancing” have correlative meanings. 

“Registered Equivalent Notes” means, with respect to any notes originally issued in a Rule 144A or other private placement
transaction under the Securities Act of 1933, substantially identical notes (having the same Guarantees) issued in a dollar-for-dollar exchange therefor pursuant to an
exchange offer registered with the SEC. 
 “Representatives” means the First Priority Representatives and the Second
Priority Representatives. 
 “Responsible Officer” means, with respect to any Borrower or any Grantor, the chair, chief
executive officer, chief financial officer, controller, or treasurer of such Person. 
 “SEC” means the United States
Securities and Exchange Commission and any successor agency thereto. 
 “Second Lien Collateral Trust Agreement” means that
certain Second Lien Collateral Trust Agreement, dated as of the date hereof, among the Second Lien Secured Notes Collateral Trustee, the Public Second Lien Secured Notes Trustee, the Private Second Lien Secured Notes Trustee, the Borrowers and the
other Grantors from time to time party thereto and any other Secured Party Representative from time to time party thereto. 

“Second Lien Secured Notes Collateral Trustee” has the meaning assigned to such term in the introductory paragraph of this
Agreement and shall include any successor collateral trustee as provided in Section 6.2 of the Second Lien Collateral Trust Agreement. 

“Second Priority Class Debt” has the meaning assigned to such term in
Section 8.09. 
 “Second Priority Class Debt Parties” has the meaning assigned
to such term in Section 8.09. 

  
 8 

 “Second Priority Class Debt Representative” has the
meaning assigned to such term in Section 8.09. 
 “Second Priority Collateral” means any
“Collateral” (or equivalent term) as defined in the Second Lien Collateral Trust Agreement or any other Second Priority Debt Document or any other assets of any Borrower or any other Grantor with respect to which a Lien is granted or
purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation. 

“Second Priority Collateral Documents” means the “Security Documents” as defined in the Second Lien Collateral
Trust Agreement (upon and after the initial execution and delivery thereof by the initial parties thereto) and each of the security agreements and other instruments and documents executed and delivered by any Borrower or any other Grantor pursuant
to which Liens are granted by any Borrower or any other Grantor to secure any Second Priority Debt Obligation. 
 “Second Priority
Debt Documents” means the Initial Second Lien Debt Documents and any Additional Second Priority Debt Documents. 
 “Second
Priority Debt Facilities” means the Initial Second Lien Debt Agreements and any Additional Second Priority Debt Facilities. 

“Second Priority Debt Obligations” means the Initial Second Lien Debt Obligations and any Additional Second Priority Debt
Obligations. 
 “Second Priority Lien” means the Liens on the Second Priority Collateral in favor of Second Priority
Secured Parties under the Second Priority Collateral Documents. 
 “Second Priority Representative” means (i) in the
case of any Initial Second Lien Debt Obligations or the Initial Second Priority Debt Secured Parties, the Initial Second Lien Representative and (ii) in the case of any Additional Second Priority Debt Facility and the Additional Second Priority
Secured Parties thereunder, the trustee, administrative agent, collateral agent, security agent or similar agent under such Additional Second Priority Debt Facility that is named as the Representative in respect of such Additional Second Priority
Debt Facility in the applicable Joinder Agreement. 
 “Second Priority Secured Parties” means the Initial Second Priority
Debt Secured Parties and any Additional Second Priority Secured Parties. 
 “Secured Obligations” means the First Priority
Obligations and the Second Priority Debt Obligations. 
 “Secured Parties” means the First Priority Secured Parties and the
Second Priority Secured Parties. 
 “Shared Collateral” means, at any time, Collateral in which the holders of First
Priority Obligations under at least one First Priority Debt Facility (or their Representatives) and the holders of Second Priority Debt Obligations under at least one Second Priority Debt Facility (or their Representatives) hold a security interest
at such time (or, in the case of the First Priority Debt Facilities, are deemed pursuant to Article 2 to hold a security interest). If, at any time, (a) any portion of the First Priority Collateral under one or more First Priority Debt
Facilities does not constitute Second Priority Collateral under one or more Second Priority Debt Facilities, then such portion of such First Priority Collateral shall constitute Shared Collateral only with respect to the Second Priority Debt
Facilities for which it constitutes Second Priority Collateral and shall not constitute Shared Collateral for any Second Priority Debt Facility which does not 

  
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have a security interest in such Collateral at such time or (b) any portion of the Second Priority Collateral under one or more Second Priority Debt Facilities does not constitute First
Priority Collateral under one or more First Priority Debt Facilities, then such portion of such Second Priority Collateral shall constitute Shared Collateral only with respect to the First Priority Debt Facilities for which it constitutes First
Priority Collateral and shall not constitute Shared Collateral for any First Priority Debt Facility which does not have a security interest in such Collateral at such time. For the avoidance of doubt, the Existing Credit Facility Obligations and the
Tranche 3 Loans are not secured by a Lien on the Exclusive Collateral, and therefore the Exclusive Collateral does not constitute “Shared Collateral” with respect to the Existing Credit Facility Obligations, the Tranche 3 Loans and the
Initial Second Lien Obligations, but does constitute “Shared Collateral” with respect to the Exchange Credit Facility Obligations (excluding the Tranche 3 Loans) and the Initial Second Lien Obligations. 

“Subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation, company, limited
liability company, partnership, association or other entity of which securities or other ownership interests representing more than 50% of the ordinary voting power for the election of the members of the governing body or, in the case of a
partnership, more than 50% of the general partnership interests are, as of such date, owned or controlled by the parent and/or one or more subsidiaries of the parent. 

“Tranche 3 Loan” has the meaning set forth in the Exchange Credit Agreement as in effect on the date hereof. 

“Uniform Commercial Code” or “UCC” means, unless otherwise specified, the Uniform Commercial Code as from
time to time in effect in the State of New York. 
 SECTION 1.02. Terms Generally. The rules of interpretation set forth
in Sections 1.02 through 1.05, as applicable, of the Exchange Credit Agreement (as of the date hereof) are incorporated herein mutatis mutandis. 

ARTICLE 2 

PRIORITIES AND AGREEMENTS WITH RESPECT TO
SHARED COLLATERAL 
 SECTION 2.01. Subordination. Notwithstanding the date, time, manner or
order of filing or recordation of any document or instrument or grant, attachment or perfection of any Liens granted or purported to be granted to any Second Priority Representative or any Second Priority Secured Parties on the Shared Collateral or
of any Liens granted or purported to be granted to any First Priority Representative or any other First Priority Secured Party on the Shared Collateral (or any actual or alleged defect in any of the foregoing) and notwithstanding any provision of
the UCC, any applicable law, any Second Priority Debt Document or any First Priority Debt Document or any other circumstance whatsoever, each Second Priority Representative, on behalf of itself and each Second Priority Secured Party under its Second
Priority Debt Facility, hereby agrees that (a) any Lien on the Shared Collateral securing or purporting to secure any First Priority Obligations now or hereafter held by or on behalf of any First Priority Representative or any other First
Priority Secured Party or other agent or trustee therefor, regardless of how acquired, whether by grant, statute, operation of law, subrogation or otherwise, shall have priority over and be senior in all respects and prior to any Lien on the Shared
Collateral securing or purporting to secure any Second Priority Debt Obligations and (b) any Lien on the Shared Collateral securing or purporting to secure any Second Priority Debt Obligations now or hereafter held by or on behalf of any Second
Priority Representative, any Second Priority Secured Parties or any other agent or trustee therefor, regardless of how acquired, whether by grant, statute, operation of law, subrogation or otherwise, shall be junior and subordinate in all respects
to all Liens on the Shared Collateral securing or purporting to secure any First Priority Obligations. All Liens on the Shared Collateral securing or purporting to secure any First Priority Obligations shall be and remain

  
 10 

 
senior in all respects and prior to all Liens on the Shared Collateral securing or purporting to secure any Second Priority Debt Obligations for all purposes, whether or not such Liens securing
or purporting to secure any First Priority Obligations are subordinated to any Lien securing any other obligation of any Borrower, any Grantor or any other Person or otherwise subordinated, voided, avoided, invalidated or lapsed. For the avoidance
of doubt, the Existing Credit Facility Secured Obligations and Tranche 3 Loans shall not benefit from any Lien on the Exclusive Collateral and the Second Priority Debt Obligations shall not be subordinated to any Lien on the Exclusive Collateral
securing the Existing Credit Facility Secured Obligations and Tranche 3 Loans. 
 SECTION 2.02. Nature Of Senior Lender
Claims. Each Second Priority Representative, on behalf of itself and each Second Priority Secured Party under its Second Priority Debt Facility, acknowledges that (a) a portion of the First Priority Obligations is revolving in nature
and that the amount thereof that may be outstanding at any time or from time to time may be increased or reduced and subsequently reborrowed, (b) the terms of the First Priority Debt Documents and the First Priority Obligations may be amended,
restated, amended and restated, supplemented or otherwise modified, and the First Priority Obligations, or a portion thereof, may be Refinanced from time to time and (c) the aggregate amount of the First Priority Obligations may be increased in
the manner permitted under the First Priority Debt Documents and the Second Priority Debt Documents, in each case, without notice to or consent by the Second Priority Representatives or the Second Priority Secured Parties and without affecting the
provisions hereof, except as otherwise expressly set forth herein. The Lien priorities provided for in Section 2.01 shall not be altered or otherwise affected by any amendment, restatement, amendment and restatement,
supplement or other modification, or any Refinancing, of either the First Priority Obligations or the Second Priority Debt Obligations, or any portion thereof. As between the Borrowers and the other Grantors and the Second Priority Secured Parties,
the foregoing provisions will not limit or otherwise affect the obligations of the Borrowers and the other Grantors contained in any Second Priority Debt Document with respect to the incurrence of additional First Priority Obligations. 

SECTION 2.03. Prohibition On Contesting Liens. Each of the Second Priority Representatives, for itself and on behalf of
each Second Priority Secured Party under its Second Priority Debt Facility, agrees that it shall not (and hereby waives any right to) contest or support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation
Proceeding), the validity, extent, perfection, priority, allowability, or enforceability of any Lien securing, or the allowability or value of any claim asserted with respect to, any First Priority Obligations held (or purported to be held) by or on
behalf of any First Priority Representative or any of the other First Priority Secured Parties or other agent or trustee therefor in any First Priority Collateral (other than a Lien on the Exclusive Collateral securing the Existing Credit Facility
Obligations or Tranche 3 Loans), and each First Priority Representative, for itself and on behalf of each First Priority Secured Party under its First Priority Debt Facility, agrees that it shall not (and hereby waives any right to) contest or
support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding), the validity, extent, perfection, priority, allowability, or enforceability of any Lien securing, or the allowability or value of any
claim asserted with respect to, any Second Priority Debt Obligations held (or purported to be held) by or on behalf of any of any Second Priority Representative or any of the Second Priority Secured Parties in the Second Priority Collateral.
Notwithstanding the foregoing, no provision in this Agreement shall be construed to prevent or impair the rights of any First Priority Representative to enforce this Agreement (including the priority of the Liens securing the First Priority
Obligations as provided in Section 2.01) or any of the First Priority Debt Documents. 
 SECTION 2.04. No
New Liens. The parties hereto agree that, so long as the Discharge of First Priority Obligations has not occurred, (a) none of the Grantors shall grant or permit any additional Liens on any asset or property of any Grantor to secure
any Second Priority Debt Obligation unless it has granted, or concurrently therewith grants, a Lien on such asset or property of such Grantor to secure the First Priority Obligations (excluding the Existing Credit Facility Obligations and the
Tranche 3 Loans, to the extent such 

  
 11 

 
asset or property constitutes Exclusive Collateral) (unless the First Priority Representative with respect to such First Priority Obligations has elected not to receive such Lien or the First
Priority Debt Documents relating to such First Priority Obligations so provide); and (b) if any Second Priority Representative or any Second Priority Secured Party shall hold any Lien on any assets or property of any Grantor securing any Second
Priority Debt Obligations that are not also subject to the Liens securing all First Priority Obligations under the First Priority Collateral Documents (other than the Existing Credit Facility Obligations and the Tranche 3 Loans, to the extent such
asset or property constitutes Exclusive Collateral), such Second Priority Representative or Second Priority Secured Party (i) shall notify the Designated First Priority Representative promptly upon becoming aware thereof and, unless such
Grantor shall promptly grant a similar Lien on such assets or property to each First Priority Representative as security for the First Priority Obligations (excluding the Existing Credit Facility Obligations and the Tranche 3 Loans, to the extent
such asset or property constitutes Exclusive Collateral) (unless the First Priority Representative with respect to such First Priority Obligations has elected not to receive such Lien or the First Priority Debt Documents relating to such First
Priority Obligations so provide), shall assign such Lien to the Designated First Priority Representative as security for all First Priority Obligations for the benefit of the First Priority Secured Parties (other than the Existing Credit Facility
Obligations and the Tranche 3 Loans, to the extent such asset or property constitutes Exclusive Collateral) (but may retain a junior Lien on such assets or property subject to the terms hereof) and (ii) until such assignment or such grant of a
similar Lien to each applicable First Priority Representative, shall be deemed to hold and have held such Lien for the benefit of the applicable First Priority Representative and the other applicable First Priority Secured Parties as security for
the First Priority Obligations (other than the Existing Credit Facility Obligations and the Tranche 3 Loans, to the extent the asset or property subject to such Lien is Exclusive Collateral) (subject to the relative lien priorities set forth
herein). If any Second Priority Representative or any Second Priority Secured Party shall, at any time, receive any proceeds or payment from or as a result of any Liens granted in contravention of this Section 2.04, it
shall pay such proceeds or payments over to the Designated First Priority Representative in accordance with the terms of Section 4.01 and Section 4.02. 

SECTION 2.05. Perfection of Liens. Except for the limited agreements of the First Priority Representatives pursuant to
Section 5.05 hereof, none of the First Priority Representatives or the First Priority Secured Parties shall be responsible for perfecting and maintaining the perfection of Liens with respect to the Shared Collateral for the
benefit of the Second Priority Representatives or the Second Priority Secured Parties. The provisions of this Agreement are intended solely to govern the respective Lien priorities as between the First Priority Secured Parties and the Second
Priority Secured Parties and shall not impose on the First Priority Representatives, the First Priority Secured Parties, the Second Priority Representatives, the Second Priority Secured Parties or any agent or trustee therefor any obligations in
respect of the disposition of Proceeds of any Shared Collateral which would conflict with prior perfected claims therein in favor of any other Person or any order or decree of any court or Governmental Authority or any applicable law. 

  
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 SECTION 2.06. Refinancings. The First Priority Obligations and the Second
Priority Debt Obligations of any series may be Refinanced, in whole or in part, in each case, without notice to, or the consent (except to the extent a consent is otherwise required to permit the Refinancing transaction under any First Priority Debt
Document or Second Priority Debt Document, as applicable) of any party hereto, all without affecting the priorities provided for herein or the other provisions hereof; provided that the Representative of the holders of any such Refinancing
Indebtedness shall have executed a Joinder Agreement on behalf of the holders of such Refinancing Indebtedness and such Representative and Grants have complied with Section 8.09 with respect to such Indebtedness. 

ARTICLE 3 

ENFORCEMENT 

SECTION 3.01. Exercise Of Remedies. 

(a) So long as the Discharge of First Priority Obligations has not occurred, whether or not any Insolvency or Liquidation Proceeding has been
commenced by or against any Borrower or any other Grantor, (i) neither any Second Priority Representative nor any Second Priority Secured Party will (x) exercise or seek to exercise any rights or remedies (including setoff, counterclaim or
recoupment) with respect to any Shared Collateral in respect of any Second Priority Debt Obligations, or institute any action or proceeding with respect to such rights or remedies (including any action of foreclosure), (y) contest, protest or object
to any foreclosure proceeding or other action brought with respect to the Shared Collateral or any other First Priority Collateral by any First Priority Representative or any First Priority Secured Party in respect of the First Priority Obligations,
the exercise of any right by any First Priority Representative or any First Priority Secured Party (or any agent or sub-agent on their behalf) in respect of the First Priority Obligations under any lockbox
agreement, control agreement, landlord waiver or bailee’s letter or similar agreement or arrangement to which any First Priority Representative or any First Priority Secured Party either is a party or may have rights as a third party
beneficiary, or any other exercise by any such party of any rights and remedies relating to the Shared Collateral under the First Priority Debt Documents or otherwise in respect of the First Priority Collateral or the First Priority Obligations, or
(z) object to the forbearance by the First Priority Secured Parties from bringing or pursuing any foreclosure proceeding or action or any other exercise of any rights or remedies relating to the Shared Collateral in respect of First Priority
Obligations and (ii) except as otherwise provided herein, the First Priority Representatives and the First Priority Secured Parties shall have the exclusive right to enforce rights, exercise remedies (including setoff, counterclaim or
recoupment and the right to credit bid their debt) and make determinations regarding the release, disposition or restrictions with respect to the Shared Collateral or any other First Priority Collateral without any consultation with or the consent
of any Second Priority Representative or any Second Priority Secured Party; provided, however, that (A) in any Insolvency or Liquidation Proceeding commenced by or against any Borrower or any other Grantor, any Second Priority
Representative may file a claim, proof of claim, or statement of interest with respect to the Second Priority Debt Obligations under its Second Priority Debt Facility in a manner consistent with the terms and conditions of this Agreement,
(B) any Second Priority Representative may take any action (not adverse to the prior Liens on the Shared Collateral securing the First Priority Obligations or the rights of the First Priority Representatives or the First Priority Secured
Parties to exercise remedies in respect thereof) it deems necessary to create, prove, perfect, preserve or protect (but not enforce) its rights in, and perfection and priority of its Lien on, the Shared Collateral, (C) to the extent not
otherwise inconsistent with or prohibited by this Agreement, any Second Priority Representative and the Second Priority Secured Parties may exercise their rights and remedies as unsecured creditors, including filing any pleadings, objections,
motions, or agreements that assert such rights to the extent provided and subject to the restrictions contained in Section 5.04, (D) any Second Priority Representative may exercise the rights and remedies provided for in
Section 6.03, and may vote on a proposed Plan of Reorganization in any Insolvency or Liquidation Proceeding in accordance with the terms of this Agreement (including Section 6.12), (E) any Second
Priority Representative and the 

  
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Second Priority Secured Parties may file any necessary or appropriate responsive or defensive pleadings in opposition to any motion, claim, adversary proceeding or other pleading made by any
Person objecting to or otherwise seeking the disallowance of the claims or Liens of the Second Priority Secured Parties, including any claims secured by the Second Priority Collateral, and (F) any Second Priority Representative and the Second
Priority Secured Parties may purchase (by credit bid or otherwise) all or any portion of the Collateral in connection with any enforcement of remedies by the Designated First Priority Representative to the extent that, and so long as, the First
Priority Secured Parties receive payment in full in cash of all First Lien Secured Obligations after giving effect thereto, in each case of clauses (A) through (F) above, to the extent not inconsistent with the terms of this Agreement. In
exercising rights and remedies with respect to the First Priority Collateral, the First Priority Representatives and the First Priority Secured Parties may enforce the provisions of the First Priority Debt Documents and exercise remedies thereunder,
all in such order and in such manner as they may determine in the exercise of their sole discretion, subject to the provisions of the First Lien Pari Passu Intercreditor Agreement. Such exercise and enforcement shall include the rights of an agent
appointed by them to sell or otherwise dispose of Shared Collateral upon foreclosure, to incur expenses in connection with such sale or disposition and to exercise all the rights and remedies of a secured lender under the Uniform Commercial Code of
any applicable jurisdiction and of a secured creditor under Bankruptcy Laws of any applicable jurisdiction. 
 (b) So long as the Discharge
of First Priority Obligations has not occurred, except as expressly provided in the proviso to clause (ii) of Section 3.01(a) but subject to Section 4.01, each Second Priority Representative,
on behalf of itself and each Second Priority Secured Party under its Second Priority Debt Facility, agrees that it will not take or receive any Shared Collateral or any Proceeds of Shared Collateral in connection with the exercise of any right or
remedy (including setoff, counterclaim or recoupment and credit bidding (other than as set forth in Section 3.01(a))) with respect to any Shared Collateral in respect of Second Priority Debt Obligations. Without limiting the generality of the
foregoing, unless and until the Discharge of First Priority Obligations has occurred, except as expressly provided in the proviso in clause (ii) of Section 3.01(a) and in Section 4.01,
the sole right of the Second Priority Representatives and the Second Priority Secured Parties with respect to the Shared Collateral is to hold a Lien on the Shared Collateral in respect of Second Priority Debt Obligations pursuant to the Second
Priority Debt Documents for the period and to the extent granted therein and to receive a share of the Proceeds thereof, if any, after the Discharge of First Priority Obligations has occurred. 

(c) Subject to the proviso in clause (ii) of Section 3.01(a), (i) each Second Priority Representative,
for itself and on behalf of each Second Priority Secured Party under its Second Priority Debt Facility, agrees that neither such Second Priority Representative nor any such Second Priority Secured Party will take any action that would hinder, delay
or interfere with any exercise of remedies undertaken by any First Priority Representative or any First Priority Secured Party with respect to the Shared Collateral under the First Priority Debt Documents, including any Disposition of the Shared
Collateral, whether by foreclosure or otherwise, and (ii) each Second Priority Representative, for itself and on behalf of each Second Priority Secured Party under its Second Priority Debt Facility, hereby waives any and all rights it or any
such Second Priority Secured Party may have as a junior lien creditor or otherwise to object to the manner in which the First Priority Representatives or the First Priority Secured Parties seek to enforce or collect the First Priority Obligations or
the Liens granted on any of the First Priority Collateral, regardless of whether any action or failure to act by or on behalf of any First Priority Representative or any other First Priority Secured Party is adverse to the interests of the Second
Priority Secured Parties. 
 (d) Each Second Priority Representative hereby acknowledges and agrees that no covenant, agreement or
restriction contained in any Second Priority Debt Document shall be deemed to restrict in any way the rights and remedies of the First Priority Representatives or the First Priority Secured Parties with respect to the First Priority Collateral as
set forth in this Agreement and the First Priority Debt Documents. 

  
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 (e) Until the Discharge of First Priority Obligations, except as expressly provided in the
proviso in clause (ii) of Section 3.01(a), the Designated First Priority Representative (or any Person authorized by it) shall have the exclusive right to exercise any right or remedy with respect to the Shared
Collateral and shall have the exclusive right to determine and direct the time, method and place for exercising such right or remedy or conducting any proceeding with respect thereto in accordance with the First Lien Pari Passu Intercreditor
Agreement. Following the Discharge of First Priority Obligations, the Designated Second Priority Representative (or any Person authorized by it) shall have the exclusive right to exercise any right or remedy with respect to the Collateral, and the
exclusive right to direct the time, method and place of exercising or conducting any proceeding for the exercise of any right or remedy available to the Second Priority Secured Parties with respect to the Collateral, or of exercising or directing
the exercise of any trust or power conferred on the Second Priority Representatives, or for the taking of any other action authorized by the Second Priority Collateral Documents pursuant to the Second Lien Collateral Trust Agreement;
provided, however, that nothing in this Section shall impair the right of any Second Priority Representative or other agent or trustee acting on behalf of the Second Priority Secured Parties to take such actions with respect to the
Collateral after the Discharge of First Priority Obligations as may be otherwise required or authorized pursuant to any intercreditor agreement governing the Second Priority Secured Parties or the Second Priority Debt Obligations. 

SECTION 3.02. Cooperation. Subject to the proviso in clause (ii) of Section 3.01(a),
each Second Priority Representative, on behalf of itself and each Second Priority Secured Party under its Second Priority Debt Facility, agrees that, unless and until the Discharge of First Priority Obligations has occurred, it will not commence, or
join with any Person (other than the First Priority Secured Parties and the First Priority Representatives upon the request of the Designated First Priority Representative pursuant to the First Lien Pari Passu Intercreditor Agreement) in commencing,
any enforcement, collection, execution, levy or foreclosure action or proceeding with respect to any Lien held by it on the Shared Collateral under any of the Second Priority Debt Documents or otherwise in respect of the Second Priority Debt
Obligations. 
 SECTION 3.03. Actions Upon Breach. Should any Second Priority Representative or any Second Priority
Secured Party, contrary to this Agreement, in any way take, attempt to take or threaten to take any action with respect to the Shared Collateral (including any attempt to realize upon or enforce any remedy with respect to this Agreement) or fail to
take any action required by this Agreement, any First Priority Representative or other First Priority Secured Party (in its or their own name or in the name of any Borrower or any other Grantor) or any Borrower or any other Grantor may obtain relief
against such Second Priority Representative or such Second Priority Secured Party by injunction, specific performance or other appropriate equitable relief. Each Second Priority Representative, on behalf of itself and each Second Priority Secured
Party under its Second Priority Debt Facility, hereby (i) agrees that the First Priority Secured Parties’ damages from the actions of the Second Priority Representatives or any Second Priority Secured Party may at that time be difficult to
ascertain and may be irreparable and waives any defense that any Borrower, any other Grantor, any First Priority Representative or the First Priority Secured Parties cannot demonstrate damage or be made whole by the awarding of damages and
(ii) irrevocably waives any defense based on the adequacy of a remedy at law and any other defense that might be asserted to bar the remedy of specific performance in any action that may be brought by any First Priority Representative or any
other First Priority Secured Party. 

  
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 ARTICLE 4 

PAYMENTS 

SECTION 4.01. Application Of Proceeds.  

(a) So long as the Discharge of First Priority Obligations has not occurred and regardless of whether an Insolvency or Liquidation Proceeding
has been commenced, the Common Collateral or Proceeds thereof received in connection with the sale or other disposition of, or collection on, such Common Collateral upon the exercise of remedies or distributions received on account of the Secured
Obligations during any Insolvency or Liquidation Proceeding shall be applied by the Designated First Priority Representative to the First Priority Obligations in such order as specified in the First Lien Pari Passu Intercreditor Agreement and
relevant First Priority Debt Documents until the Discharge of First Priority Obligations has occurred. Upon the Discharge of First Priority Obligations (so long as the Discharge of Second Priority Debt Obligations has not occurred), each applicable
First Priority Representative shall deliver promptly to the Designated Second Priority Representative any Common Collateral, Proceeds thereof or distributions in respect of the Secured Obligations held by it in the same form as received, with any
necessary endorsements (and any such endorsement to be without recourse), or as a court of competent jurisdiction may otherwise direct, to be applied by the Designated Second Priority Representative to the Second Priority Debt Obligations in such
order as specified in the Second Lien Collateral Trust Agreement and relevant Second Priority Debt Documents. 
 (b) So long as the
Discharge of First Priority Obligations (excluding the Existing Credit Facility Obligations and Tranche 3 Loans) has not occurred and regardless of whether an Insolvency or Liquidation Proceeding has been commenced, the Exclusive Collateral or
Proceeds thereof received in connection with the sale or other disposition of, or collection on, such Exclusive Collateral upon the exercise of remedies or distributions received on account of the Secured Obligations during any Insolvency or
Liquidation Proceeding shall be applied by the Designated First Priority Representative to the First Priority Obligations in such order as specified in the First Lien Pari Passu Intercreditor Agreement and relevant First Priority Debt Documents
until the Discharge of First Priority Obligations (excluding the Existing Credit Facility Obligations and Tranche 3 Loans) has occurred. Upon the Discharge of First Priority Obligations (excluding the Existing Credit Facility Obligations and Tranche
3 Loans and so long as the Discharge of Second Priority Debt Obligations has not occurred), each applicable First Priority Representative shall deliver promptly to the Designated Second Priority Representative any Exclusive Collateral, Proceeds
thereof or distributions in respect of the Secured Obligations held by it in the same form as received, with any necessary endorsements (and any such endorsement to be without recourse), or as a court of competent jurisdiction may otherwise direct,
to be applied by the Designated Second Priority Representative to the Second Priority Debt Obligations in such order as specified in the Second Lien Collateral Trust Agreement and relevant Second Priority Debt Documents. 

SECTION 4.02. Payments Over. So long as the Discharge of First Priority Obligations has not occurred and regardless of
whether an Insolvency or Liquidation Proceeding has been commenced, any Shared Collateral, Proceeds thereof or distributions received by any Second Priority Representative or any Second Priority Secured Party in connection with the exercise of any
right or remedy (including setoff, counterclaim or recoupment) relating to the Shared Collateral or (except as otherwise expressly set forth in Article 6) in any Insolvency or Liquidation Proceeding or in contravention of this Agreement shall
be segregated and held in trust for the benefit of and forthwith paid over to the Designated First Priority Representative for the benefit of the First Priority Secured Parties in the same form as received, with any necessary endorsements (and any
such endorsement to be without recourse), or as a court of competent jurisdiction may otherwise direct. The Designated First Priority Representative is hereby authorized to make any such endorsements as agent for each of the Second Priority
Representatives or any such Second Priority Secured Party. This authorization is coupled with an interest and is irrevocable. 

  
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 ARTICLE 5 

OTHER AGREEMENTS 

SECTION 5.01. Releases. 

(a) Each Second Priority Representative, for itself and on behalf of each Second Priority Secured Party under its Second Priority Debt
Facility, agrees that, in the event of a Disposition of any specified item of Shared Collateral (including all or substantially all of the Equity Interests of any Subsidiary of any Borrower) (i) in connection with the exercise of remedies in
respect of Collateral by a First Priority Representative (including any such Disposition supported, or consented to, by a First Priority Representative when an Event of Default (or other equivalent term) has occurred and is continuing under the
First Priority Debt Documents) or (ii) if not in connection with the exercise of remedies in respect of Collateral, so long as such Disposition is expressly permitted by the terms of the First Priority Debt Documents and Second Priority Debt
Documents, and, in each case of clauses (i) and (ii), other than in connection with the Discharge of First Priority Obligations, the Liens granted to the Second Priority Representatives and the Second Priority Secured Parties upon
such Shared Collateral (but not on the Proceeds thereof to the extent not applied to the First Priority Obligations) to secure Second Priority Debt Obligations and the First Priority Debt Documents shall terminate and be released, automatically and
without any further action, concurrently with the termination and release of all Liens granted upon such Shared Collateral to secure First Priority Obligations. Upon delivery to a Second Priority Representative of an Officer’s Certificate
satisfying the requirements of the applicable Second Priority Debt Documents and stating that any such termination and release of Liens securing the First Priority Obligations has become effective (or shall become effective concurrently with such
termination and release of the Liens granted to the Second Priority Secured Parties and the Second Priority Representatives) and any necessary or proper instruments of termination or release prepared by either Borrower or any other Grantor, such
Second Priority Representative, upon reliance on such Officer’s Certificate without Liability, will promptly execute, deliver or acknowledge, at such Borrower’s or other Grantor’s sole cost and expense and without any representation
or warranty, such instruments to evidence such termination and release of the Liens. Nothing in this Section 5.01(a) will be deemed to affect any agreement of a Second Priority Representative, for itself and on behalf of
the Second Priority Secured Parties under its Second Priority Debt Facility, to release the Liens on the Second Priority Collateral in other circumstances as set forth in the relevant Second Priority Debt Documents. 

(b) Each Second Priority Representative, for itself and on behalf of each Second Priority Secured Party under its Second Priority Debt
Facility, hereby irrevocably constitutes and appoints the Designated First Priority Representative and any officer or agent of the Designated First Priority Representative, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of such Second Priority Representative or such Second Priority Secured Party or in the
Designated First Priority Representative’s own name, from time to time in the Designated First Priority Representative’s discretion exercised pursuant to this Agreement, for the purpose of carrying out the terms of
Section 5.01(a), to take any and all appropriate action and to execute any and all documents and instruments that may be necessary or desirable to accomplish the purposes of Section 5.01(a),
including any termination statements, endorsements or other instruments of transfer or release. Such appointment of attorney-in-fact shall be coupled with an interest.

 (c) Unless and until the Discharge of First Priority Obligations has occurred, each Second Priority Representative, for itself and on
behalf of each Second Priority Secured Party under its Second Priority Debt Facility, hereby consents to the application, whether prior to or after an event of default under any First Priority Debt Document of Proceeds of Shared Collateral to the
repayment of First Priority Obligations pursuant to the First Lien Pari Passu Intercreditor Agreement and First Priority Debt Documents; provided that nothing in this Section 5.01(c) shall be construed to prevent or
impair the rights 

  
 17 

 
of the Second Priority Representatives or the Second Priority Secured Parties to receive Proceeds in connection with the Second Priority Debt Obligations not otherwise in contravention of this
Agreement, including, solely with respect to Exclusive Collateral, the right to receive proceeds thereof prior to the Discharge of First Priority Obligations constituting Existing Credit Facility Obligations and Tranche 3 Loans. 

(d) Notwithstanding anything to the contrary in any Second Priority Collateral Document, in the event the terms of a First Priority Collateral
Document and a Second Priority Collateral Document each require any Grantor (i) to make payment in respect of any item of Shared Collateral, (ii) to deliver or afford control over any item of Shared Collateral to, or deposit any item of
Shared Collateral with, (iii) to register ownership of any item of Shared Collateral in the name of or make an assignment of ownership of any Shared Collateral or the rights thereunder to, (iv) cause any securities intermediary, commodity
intermediary or other Person acting in a similar capacity to agree to comply, in respect of any item of Shared Collateral, with instructions or orders from, or to treat, in respect of any item of Shared Collateral, as the entitlement holder,
(v) hold any item of Shared Collateral in trust for (to the extent such item of Shared Collateral cannot be held in trust for multiple parties under applicable law), (vi) obtain the agreement of a bailee or other third party to hold any item of
Shared Collateral for the benefit of or subject to the control of or, in respect of any item of Shared Collateral, to follow the instructions of or (vii) obtain the agreement of a landlord with respect to access to leased premises where any
item of Shared Collateral is located or waivers or subordination of rights with respect to any item of Shared Collateral in favor of, in any case, both a First Priority Representative and any Second Priority Representative or Second Priority Secured
Party, such Grantor may, until the applicable Discharge of First Priority Obligations has occurred, comply with such requirement under the Second Priority Collateral Document as it relates to such Shared Collateral by taking any of the actions set
forth above only with respect to, or in favor of, the Designated First Priority Representative. 
 SECTION 5.02. Insurance And
Condemnation Awards. Unless and until the Discharge of First Priority Obligations has occurred, the Designated First Priority Representative (or any person authorized by it) and the First Priority Secured Parties shall, as between the
First Priority Secured Parties and the Second Priority Secured Parties, have the sole and exclusive right, subject in each case to the rights of the Grantors under the First Priority Debt Documents, (a) to adjust settlement for any insurance
policy covering or constituting Shared Collateral in the event of any loss thereunder and (b) to approve any award granted in any condemnation or similar proceeding affecting the Shared Collateral. Unless and until the Discharge of First
Priority Obligations has occurred, and subject to the rights of the Grantors under the First Priority Debt Documents, all proceeds of any such policy and any such award, if (or if in respect of) Shared Collateral, shall be paid (i) first, prior
to the occurrence of the Discharge of First Priority Obligations, to the Designated First Priority Representative for the benefit of First Priority Secured Parties pursuant to the terms of the First Lien Pari Passu Intercreditor Agreement and First
Priority Debt Documents, (ii) second, after the occurrence of the Discharge of First Priority Obligations, to the Designated Second Priority Representative for the benefit of the Second Priority Secured Parties pursuant to the terms of the
Second Lien Collateral Trust Agreement and applicable Second Priority Debt Documents, and (iii) third, if no Second Priority Debt Obligations or First Priority Obligations are outstanding, to the owner of the subject property, such other Person
as may be entitled thereto or as a court of competent jurisdiction may otherwise direct. If any Second Priority Representative or any Second Priority Secured Party shall, at any time, receive any proceeds of any such insurance policy or any such
award in contravention of this Agreement, it shall pay such proceeds over to the Designated First Priority Representative in accordance with the terms of Section 4.02. 

  
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 SECTION 5.03. Certain Amendments. 

(a) Without the consent of the Designated First Priority Representative, no Second Priority Collateral Document may be amended, supplemented
or otherwise modified or entered into to the extent such amendment, supplement or modification, or the terms of any new Second Priority Collateral Document, would (w) adversely affect the Lien priority rights of the First Priority Secured
Parties or the rights of the First Priority Secured Parties to receive payments owing pursuant to the First Priority Debt Documents, (x) add any Liens securing the Collateral (other than to the extent permitted under this Agreement), (y) confer
any additional rights on the Second Priority Secured Parties in a manner adverse to the First Priority Secured Parties or (z) be prohibited by or contravene any of the terms of the Initial Second Lien Debt Agreements or this Agreement. The
Borrowers agree to deliver to the First Priority Representatives copies of (i) any amendments, supplements or other modifications to the Second Priority Collateral Documents and (ii) any new Second Priority Collateral Documents promptly
after the effectiveness thereof. Each Second Priority Representative, for itself and on behalf of each Second Priority Secured Party under its Second Priority Debt Facility, agrees that each Second Priority Collateral Document under its Second
Priority Debt Facility and such Second Priority Debt Facility shall include the following language (or language to similar effect reasonably approved by the Designated First Priority Representative): 

“Notwithstanding anything herein to the contrary, (i) the liens and security interests granted to the [Second Priority
Representative] [pursuant to this Agreement] are expressly subject and subordinate to the liens and security interests granted in favor of the First Priority Secured Parties (as defined in the First Lien/Second Lien Intercreditor Agreement referred
to below), including liens and security interests granted to (a) Alter Domus Products Corp., as administrative agent (the “Exchange Credit Facility Agent”) under the Exchange Credit Agreement (as defined in the First
Lien/Second Lien Intercreditor Agreement) or (b) Alter Domus Products Corp., as administrative agent (the “Existing Credit Facility Agent”) under the Existing Credit Agreement (as defined in the First Lien/Second Lien
Intercreditor Agreement), and (ii) the exercise of any right or remedy by the [Second Priority Representative] or any other secured party hereunder is subject to the limitations and provisions of the First Lien/Second Lien Intercreditor
Agreement dated as of August 19, 2022 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “First Lien/Second Lien Intercreditor Agreement”), among the Exchange Credit Facility
Agent, the Existing Credit Facility Agent, Ankura Trust Company, LLC, as Initial Second Lien Representative, The GEO Group, Inc., GEO Corrections Holdings, Inc., and the other Grantors (as defined therein) party thereto. In the event of any conflict
between the terms of the First Lien/Second Lien Intercreditor Agreement and the terms of this Agreement, the terms of the First Lien/Second Lien Intercreditor Agreement shall govern.” 

(b) In the event that each applicable First Priority Representative and/or the First Priority Secured Parties enter into any amendment, waiver
or consent in respect of any of the First Priority Collateral Documents for the purpose of adding to or deleting from, or waiving or consenting to any departures from any provisions of, any First Priority Collateral Document or changing in any
manner the rights of the First Priority Representatives, the First Priority Secured Parties, any Borrower, or any other Grantor thereunder (including the release of any Liens in First Priority Collateral), then such amendment, waiver or consent
shall apply automatically to any comparable provision of each comparable Second Priority Collateral Document without the consent of any Second Priority Representative or any Second Priority Secured Party and without any action by any Second Priority
Representative, any Borrower, or any other Grantor; provided, however, that (A) no such amendment, waiver or consent shall have the effect of removing assets subject to the Lien of any Second Priority Collateral Document, except
to the extent that a release of such Lien is provided for in Section 5.01(a), (B) no such amendment shall impose any additional duties on any Second Priority Representative without its prior written consent and (C) any
such amendment, waiver, or 

  
 19 

 
modification that materially and adversely affects the rights of the Second Priority Secured Parties and does not affect the First Priority Secured Parties in a like or similar manner shall not
apply to any Second Priority Collateral Document without the consent of the Second Priority Representative (as directed or with the consent of the Second Priority Secured Parties holding a majority in the aggregate principal amount of the
outstanding Second Priority Debt Obligations). The relevant First Priority Representative shall give written notice of such amendment, waiver or consent to each Second Priority Representative within 10 Business Days after the effectiveness of such
amendment, waiver or consent; provided that the failure to give such notice shall not affect the effectiveness of such amendment, waiver or consent. 

(c) The First Priority Debt Documents may be amended, restated, supplemented or otherwise modified in accordance with their terms without the
consent of any Second Priority Secured Party; provided that, without the consent of the Second Priority Representatives, no such amendment, restatement, supplement, modification or Refinancing (or successive amendments, restatements,
supplements, modifications or Refinancings) shall contravene any provision of this Agreement. 
 (d) The Second Priority Debt Documents may
be amended, restated, supplemented or otherwise modified in accordance with their terms without the consent of any First Priority Representative or First Priority Secured Party; provided that, without the consent of the Designated First
Priority Representative, no such amendment, restatement, supplement, modification or Refinancing (or successive amendments, restatements, supplements, modifications or Refinancings) shall contravene any provision of this Agreement. 

SECTION 5.04. Rights As Unsecured Creditors. The Second Priority Representatives and the Second Priority Secured Parties
may exercise rights and remedies as unsecured creditors against any Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate or are not
otherwise inconsistent with any provision of this Agreement (including any provision prohibiting or restricting the Second Priority Representatives or the Second Priority Secured Parties from taking various actions or making various objections).
Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Secured Party of the required payments of principal, premium, interest, fees, expenses, and other amounts due under the Second Priority
Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Secured Party of rights or remedies in respect of Shared Collateral or in conflict with
Section 4.01 or Article VI; provided that this Section 5.04 shall not be construed to affect any restrictions under the First Priority Debt Documents that limit any Grantor from
making payments of the Second Priority Debt Obligations in effect on the date hereof. In the event any Second Priority Representative or any Second Priority Secured Party becomes a judgment Lien creditor in respect of Shared Collateral as a result
of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment Lien shall be subordinated to the Liens securing First Priority Obligations on the same basis as the other Liens securing the
Second Priority Debt Obligations are so subordinated to such Liens securing First Priority Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the First Priority
Representatives or the First Priority Secured Parties may have with respect to the First Priority Collateral. 
 SECTION 5.05.
Gratuitous Bailee For Perfection. 
 (a) Each First Priority Representative acknowledges and agrees that if it shall at any time hold
a Lien securing any First Priority Obligations on any Shared Collateral that can be perfected by the possession or control of such Shared Collateral or of any account in which such Shared Collateral is held, and if such Shared Collateral or any such
account is in fact in the possession or under the control of such First Priority Representative, or of agents or bailees of such First Priority Representative (such Shared 

  
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Collateral being referred to herein as the “Pledged or Controlled Collateral”), or if it shall at any time obtain any landlord waiver or bailee’s letter or any similar
agreement or arrangement granting it rights or access to Shared Collateral, the applicable First Priority Representative shall also hold such Pledged or Controlled Collateral, or take such actions with respect to such landlord waiver, bailee’s
letter or similar agreement or arrangement, as sub-agent or gratuitous bailee for the relevant Second Priority Representatives, in each case solely for the purpose of perfecting the Liens granted under the
relevant Second Priority Collateral Documents and subject to the terms and conditions of this Section 5.05. 
 (b)
In the event that any First Priority Representative (or its agents or bailees) has Lien filings against Intellectual Property (as defined in the Collateral Agreement, as such term is defined in the Exchange Credit Agreement) that is part of the
Shared Collateral that are necessary for the perfection of Liens in such Shared Collateral and the Second Priority Representatives have not made similar filings, such First Priority Representative agrees to hold such Liens as sub-agent and gratuitous bailee for the relevant Second Priority Representatives and any assignee thereof, solely for the purpose of perfecting the security interest granted in such Liens pursuant to the relevant
Second Priority Collateral Documents, subject to the terms and conditions of this Section 5.05. 
 (c) Except as
otherwise specifically provided herein, until the Discharge of First Priority Obligations has occurred, the First Priority Representatives and the First Priority Secured Parties shall be entitled to deal with the Pledged or Controlled Collateral in
accordance with the terms of the First Priority Debt Documents as if the Liens under the Second Priority Collateral Documents did not exist. The rights of the Second Priority Representatives and the Second Priority Secured Parties with respect to
the Pledged or Controlled Collateral shall at all times be subject to the terms of this Agreement. 
 (d) The First Priority Representatives
and the First Priority Secured Parties shall have no obligation whatsoever to the Second Priority Representatives or any Second Priority Secured Party to assure that any of the Pledged or Controlled Collateral is genuine or owned by the Grantors or
to protect or preserve rights or benefits of any Person or any rights pertaining to the Shared Collateral, except as expressly set forth in this Section 5.05. The duties or responsibilities of the First Priority
Representatives (and after the Discharge of First Priority Obligations, the Second Priority Representative) under this Section 5.05 shall be limited solely to holding or controlling the Shared Collateral and the related
Liens referred to in paragraphs (a) and (b) of this Section 5.05 as sub-agent and gratuitous bailee for the relevant Second Priority Representative for purposes of
perfecting the Lien held by such Second Priority Representative. 
 (e) The First Priority Representatives shall not have by reason of the
Second Priority Collateral Documents or this Agreement, or any other document, a fiduciary relationship in respect of any Second Priority Representative or any Second Priority Secured Party, and each Second Priority Representative, for itself and on
behalf of each Second Priority Secured Party under its Second Priority Debt Facility, hereby waives and releases the First Priority Representatives from all claims and liabilities arising pursuant to the First Priority Representatives’ roles
under this Section 5.05 as sub-agents and gratuitous bailees with respect to the Shared Collateral. 

(f) Upon the Discharge of First Priority Obligations, each applicable First Priority Representative shall, at the Grantors’ sole cost and
expense, (i) (A) deliver to the Designated Second Priority Representative, to the extent that it is legally permitted to do so, all Shared Collateral, including all proceeds thereof, held or controlled by such First Priority Representative or
any of its agents or bailees, including the transfer of possession and control, as applicable, of the Pledged or Controlled Collateral, together with any necessary endorsements and notices to depositary banks, securities intermediaries and
commodities intermediaries, and assign its rights under any landlord waiver or bailee’s letter or any similar agreement or arrangement granting it rights or access to Shared Collateral, or (B) direct and deliver such Shared Collateral as a
court of competent jurisdiction may otherwise direct, (ii) notify any applicable 

  
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insurance carrier that it is no longer entitled to be a loss payee or additional insured under the insurance policies of any Grantor issued by such insurance carrier and (iii) notify any
governmental authority involved in any condemnation or similar proceeding involving any Grantor that the Designated Second Priority Representative is entitled to approve any awards granted in such proceeding. The Borrowers and the other Grantors
shall take such further action as is required to effectuate the transfer contemplated hereby and shall indemnify each First Priority Representative for loss or damage suffered by such First Priority Representative as a result of such transfer,
except for loss or damage suffered by such First Priority Representative as a result of its own willful misconduct or gross negligence, as determined by a court of competent jurisdiction in a final and
non-appealable judgment. The First Priority Representatives have no obligations to follow instructions from any Second Priority Representative or any other Second Priority Secured Party in contravention of
this Agreement. 
 (g) None of the First Priority Representatives nor any of the other First Priority Secured Parties shall be required to
marshal any present or future collateral security for any obligations of either Borrower or any Subsidiary to any First Priority Representative or any First Priority Secured Party under the First Priority Debt Documents or any assurance of payment
in respect thereof, or to resort to such collateral security or other assurances of payment in any particular order, and all of their rights in respect of such collateral security or any assurance of payment in respect thereof shall be cumulative
and in addition to all other rights, however existing or arising. 
 SECTION 5.06. When Discharge Of First Priority Obligations
Deemed To Not Have Occurred. If, at any time substantially concurrently with or after the Discharge of First Priority Obligations has occurred, either Borrower or any Grantor incurs any First Priority Obligations (other than in respect of
the payment of indemnities surviving the Discharge of First Priority Obligations), then such Discharge of First Priority Obligations shall automatically be deemed not to have occurred for all purposes of this Agreement (other than with respect to
any actions taken prior to the date of such designation as a result of the occurrence of such first Discharge of First Priority Obligations) and the applicable agreement governing such First Priority Obligations shall automatically be treated as a
First Priority Debt Document for all purposes of this Agreement, including for purposes of the Lien priorities and rights in respect of Shared Collateral set forth herein and the agent, representative or trustee for the holders of such First
Priority Obligations shall be a First Priority Representative for all purposes of this Agreement; provided that such First Priority Representative shall have become a party to this Agreement pursuant to Section 8.09. Upon receipt of notice of
such incurrence (including the identity of the new Designated First Priority Representative), each Second Priority Representative (including the Designated Second Priority Representative) shall promptly (a) enter into such documents and
agreements (at the expense of the Borrowers), including amendments, supplements or modifications to this Agreement, as the Borrowers or such new First Priority Representative shall reasonably request in writing in order to provide the new First
Priority Representative the rights of a First Priority Representative contemplated hereby, (b) deliver to the Designated First Priority Representative, to the extent that it is legally permitted to do so, all Shared Collateral, including all
proceeds thereof, held or controlled by such Second Priority Representative or any of its agents or bailees, including the transfer of possession and control, as applicable, of the Pledged or Controlled Collateral, together with any necessary
endorsements and notices to depositary banks, securities intermediaries and commodities intermediaries, and assign its rights under any landlord waiver or bailee’s letter or any similar agreement or arrangement granting it rights or access to
Shared Collateral, (c) notify any applicable insurance carrier that it is no longer entitled to be a loss payee or additional insured under the insurance policies of any Grantor issued by such insurance carrier and (d) notify any
governmental authority involved in any condemnation or similar proceeding involving a Grantor that the new Designated First Priority Representative is entitled to approve any awards granted in such proceeding. 

  
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 SECTION 5.07. Purchase Right. Without prejudice to the enforcement of the First
Priority Secured Parties’ remedies in accordance with the First Priority Debt Documents and this Agreement, the First Priority Representatives on behalf of the applicable First Priority Secured Parties agree that following (a) the
acceleration of the First Priority Obligations in accordance with the terms of the First Priority Debt Documents or (b) the commencement of an Insolvency or Liquidation Proceeding by any Borrower (each, a “Purchase Event”),
within thirty (30) days of the Purchase Event, one or more of the Second Priority Secured Parties may request, and the First Priority Secured Parties hereby offer the Second Priority Secured Parties, the option to purchase all, but not less
than all, of the aggregate amount of First Priority Obligations outstanding at the time of purchase at par (plus, to the extent not already included, any premium that would be applicable upon prepayment of such First Priority Obligations and accrued
and unpaid interest, fees, and expenses) without warranty or representation or recourse (except for representations and warranties required to be made by assigning lenders pursuant an Assignment and Assumption (as such term is defined in the
Exchange Credit Agreement). If such purchase right is timely exercised, the parties shall endeavor to close promptly thereafter but in any event within ten (10) Business Days of the request. If one or more of the Second Priority Secured Parties
timely exercises such purchase right, it shall be exercised pursuant to documentation mutually acceptable to each of the First Priority Representatives affected thereby and the applicable Second Priority Representative for the applicable Second
Priority Secured Parties exercising such purchase rights. If none of the Second Priority Secured Parties timely exercises such purchase right, the First Priority Secured Parties shall have no further obligations pursuant to this
Section 5.07 for such Purchase Event and may take any further actions in their sole discretion in accordance with the First Priority Debt Documents and this Agreement. 

ARTICLE 6 

INSOLVENCY OR LIQUIDATION PROCEEDINGS 

SECTION 6.01. Financing And Sale Issues. Until the Discharge of First Priority Obligations has occurred, if any Borrower or
any other Grantor shall be subject to any Insolvency or Liquidation Proceeding, then each Second Priority Representative, for itself and on behalf of each Second Priority Secured Party under its Second Priority Debt Facility, agrees that if the
Designated First Priority Representative shall, pursuant to the First Lien Pari Passu Intercreditor Agreement, consent (or not object) to, as applicable, the sale, use or lease of cash or other collateral or to consent (or not object) to any
Borrower’s or any other Grantor’s obtaining financing under Section 363 or Section 364 of the Bankruptcy Code or any similar provision of any other Bankruptcy Law to be secured by the First Priority Collateral (“DIP
Financing”) and such cash collateral use or DIP Financing is permitted by the First Lien Pari Passu Intercreditor Agreement, it will be deemed to consent to and will raise no objection to and will not otherwise contest such sale, use or
lease of such cash or other collateral or such DIP Financing and, except to the extent expressly permitted by the proviso in clause (ii) of Section 3.01(a) and Section 6.03, will not
request adequate protection or any other relief in connection therewith (except that the Second Priority Representative may freely seek and obtain relief granting adequate protection in the form of a replacement lien), and, to the extent the Liens
securing any First Priority Obligations are subordinated to or have the same priority as the Liens securing such DIP Financing, will subordinate (and will be deemed hereunder to have subordinated) its Liens in the Shared Collateral to (x) such
DIP Financing (and all obligations relating thereto) on the same basis as the Liens securing the Second Priority Debt Obligations are so subordinated to the Liens securing First Priority Obligations under this Agreement, (y) any “carve-out” for professional and United States Trustee fees agreed to by the Designated First Priority Representative, and (z) any adequate protection Liens granted to any First Priority
Representative or any First Priority Secured Party. No Second Priority Secured Party may, directly or indirectly, provide or propose DIP Financing to a Borrower or Grantor. Each Second Priority Representative, for itself and on behalf of each Second
Priority Secured Party under its Second Priority Debt Facility, further agrees that, without the consent of the Designated First Priority Representative, until the Discharge of First Priority Obligations has occurred, (A) it will raise no
objection to (and will not otherwise contest) any motion for relief from the automatic stay or from any injunction against foreclosure or enforcement in respect of First Priority Obligations or the First Priority Collateral made by any First
Priority Representative or any other First Priority Secured Party, 

  
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(B) it will raise no objection to (and will not otherwise contest) any lawful exercise by any First Priority Secured Party of the right to credit bid First Priority Obligations at any sale in
foreclosure of First Priority Collateral (including, without limitation, pursuant to Section 363(k) of the Bankruptcy Code or any similar provision under any other applicable Bankruptcy Law) or to exercise any rights under Section 1111(b)
of the Bankruptcy Code (or any similar provision under any other applicable Bankruptcy Law) with respect to the Shared Collateral (and waives any claim it may hereafter have against any First Priority Secured Party arising out of the election of any
First Priority Secured Party of the application of Section 1111(b)(2) of the Bankruptcy Code (or any similar provision under any other applicable Bankruptcy Law)); provided that to the extent not inconsistent with the terms of this
Agreement, the Second Lien Secured Notes Collateral Trustee and Second Priority Secured Parties may exercise their rights and remedies as unsecured creditors, (C) it will raise no objection to (and will not otherwise contest) any other request
for judicial relief made in any court by any First Priority Secured Party relating to the lawful enforcement of any Lien on First Priority Collateral, and (D) it will raise no objection to (and will not otherwise contest or oppose) any
Disposition (including pursuant to Section 363 of the Bankruptcy Code or any similar provision under any other Bankruptcy Law) of assets of any Borrower or any Grantor for which the Designated First Priority Representative has consented or not
objected; provided that, to the extent such Disposition is to be free and clear of Liens, the Liens securing the First Priority Obligations and the Second Priority Debt Obligations will attach to the proceeds of the sale on the same basis of
priority as the Liens on the Shared Collateral securing the First Priority Obligations rank to the Liens on the Shared Collateral securing the Second Priority Debt Obligations pursuant to this Agreement; provided, further, that the
Second Priority Secured Parties are not deemed to have waived any rights to credit bid on the Shared Collateral in any such Disposition in accordance with Section 363(k) of the Bankruptcy Code (or any similar provision under any other
applicable Bankruptcy Law), so long as any such credit bid provides for the payment in full in cash of the First Priority Obligations upon the closing of such Disposition. Each Second Priority Representative, for itself and on behalf of each Second
Priority Secured Party under its Second Priority Debt Facility, agrees that notice received three Business Days prior to the entry of an order approving such usage of cash or other collateral or approving such DIP Financing shall be adequate notice.

 SECTION 6.02. Relief From The Automatic Stay. Until the Discharge of First Priority Obligations has occurred, each
Second Priority Representative, for itself and on behalf of each Second Priority Secured Party under its Second Priority Debt Facility, agrees that none of them shall seek relief from the automatic stay or any other stay in any Insolvency or
Liquidation Proceeding or take any action in derogation thereof, in each case in respect of any Shared Collateral, without the prior written consent of the Designated First Priority Representative in accordance with the First Lien Pari Passu
Intercreditor Agreement. 
 SECTION 6.03. Adequate Protection. Each Second Priority Representative, for itself and on
behalf of each Second Priority Secured Party under its Second Priority Debt Facility, agrees that none of them shall object, contest or support any other Person objecting to or contesting (a) any request by any First Priority Representative or
any First Priority Secured Parties for adequate protection in any form, (b) any objection by any First Priority Representative or any First Priority Secured Parties to any motion, relief, action or proceeding based on any First Priority
Representative’s or First Priority Secured Party’s claiming a lack of adequate protection or (c) the allowance and/or payment of pre- and/or post-petition interest, fees, expenses or other
amounts of any First Priority Representative or any other First Priority Secured Party under Section 506(b) or 506(c) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law (as adequate protection or otherwise).
Notwithstanding anything contained in this Section 6.03 or in Section 6.01, in any Insolvency or Liquidation Proceeding, (i) if the First Priority Secured Parties (or any subset thereof) are
granted adequate protection in the form of a Lien on additional or replacement collateral and/or a superpriority administrative expense claim in connection with any DIP Financing or use of cash collateral under Section 363 or 364 of the
Bankruptcy Code or any similar provision of any other Bankruptcy Law, then each Second Priority Representative, for itself and on behalf of each Second Priority Secured Party under its Second Priority Debt Facility, freely seek and obtain relief
granting adequate 

  
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protection in the form of (as applicable) a Lien on such additional or replacement collateral and/or a superpriority administrative expense claim, which Lien and/or superpriority administrative
expense claim is subordinated to the Liens securing and providing adequate protection for all First Priority Obligations and such DIP Financing (and all obligations relating thereto) and any other Liens or claims granted to the First Priority
Secured Parties as adequate protection on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to the Liens securing First Priority Obligations under this Agreement and (ii) in the event any Second
Priority Representatives, for themselves and on behalf of the Second Priority Secured Parties under their Second Priority Debt Facilities, seek or request adequate protection and such adequate protection is granted in the form of a Lien on
additional or replacement collateral and/or a superpriority administrative expense claim, then such Second Priority Representatives, for themselves and on behalf of each Second Priority Secured Party under their Second Priority Debt Facilities,
agree that each First Priority Representative shall also be granted a senior Lien on such additional or replacement collateral as security and adequate protection for the First Priority Obligations and any such DIP Financing and/or a superpriority
administrative expense claim (as applicable) and that any Lien on such additional or replacement collateral securing or providing adequate protection for, and claims with respect to, the Second Priority Debt Obligations and/or superpriority
administrative expense claim (as applicable) shall be subordinated to the Liens on such collateral securing the First Priority Obligations and any such DIP Financing (and all obligations relating thereto) and any other Liens or claims granted to the
First Priority Secured Parties as adequate protection on the same basis as the other Liens securing, and claims with respect to, the Second Priority Debt Obligations are so subordinated to such Liens securing, and claims with respect to, First
Priority Obligations under this Agreement. Notwithstanding anything herein to the contrary, the Second Priority Representatives shall have irrevocably agreed, pursuant to Section 1129(a)(9) of the Bankruptcy Code, for themselves and on behalf
of each Second Priority Secured Party under their Second Priority Debt Facilities, in any stipulation or order granting adequate protection of its junior interest in the Shared Collateral, that such junior super priority claims may be paid under any
Plan of Reorganization in any combination of cash, debt, equity or other property having a value on the effective date of such Plan of Reorganization equal to the allowed amount of such claims. Without limiting the generality of the foregoing, to
the extent that the First Priority Secured Parties are granted adequate protection in the form of payments in the amount of current post-petition fees and expenses, and/or other cash payments, then the Second Priority Representative, for itself and
on behalf of each Second Priority Secured Party under its Second Priority Debt Facility, shall not be prohibited from seeking adequate protection in the form of payments in the amount of current post-petition incurred fees and expenses, and/or other
cash payments (as applicable), subject to the right of the First Priority Secured Parties to object to the reasonableness of the amounts of fees and expenses or other cash payments so sought by the Second Priority Secured Parties. 

SECTION 6.04. Preference Issues. If any First Priority Secured Party is required in any Insolvency or Liquidation
Proceeding or otherwise to disgorge, turn over or otherwise pay any amount to the estate of any Borrower or any other Grantor (or any trustee, receiver or similar Person therefor), because the payment of such amount was declared to be or avoided as
fraudulent or preferential in any respect or for any other reason (any such amount, a “Recovery”), whether received as proceeds of security, enforcement of any right of setoff, counterclaim or recoupment or otherwise, then the First
Priority Obligations shall be reinstated to the extent of such Recovery and deemed to be outstanding as if such payment had not occurred and the First Priority Secured Parties shall be entitled to the benefits of this Agreement until a Discharge of
First Priority Obligations with respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish,
release, discharge, impair or otherwise affect the obligations of the parties hereto. Each Second Priority Representative, for itself and on behalf of each Second Priority Secured Party under its Second Priority Debt Facility, hereby agrees that
none of them shall be entitled to benefit from any avoidance action affecting or otherwise relating to any distribution or allocation made in accordance with this Agreement, whether by preference, fraudulent transfer or otherwise, it being
understood and agreed that the benefit of such avoidance action otherwise allocable to them shall instead be allocated and turned over for application in accordance with the priorities set forth in this Agreement. 

 

  
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 SECTION 6.05. Separate Grants Of Security And Separate Classifications.
Each Second Priority Representative, for itself and on behalf of each Second Priority Secured Party under its Second Priority Debt Facility, acknowledges and agrees that (a) the grants of Liens pursuant to the First Priority Collateral
Documents and the Second Priority Collateral Documents constitute separate and distinct grants of Liens, (b) the Second Priority Secured Parties’ claims against the Grantors in respect of their Liens on the Shared Collateral constitute
junior claims separate and apart (and of a different class) from the senior claims of the First Priority Secured Parties against the Grantors in respect of the Shared Collateral, and (c) because of, among other things, their differing rights in
the Shared Collateral, the Second Priority Debt Obligations are fundamentally different from the First Priority Obligations and must be separately classified in any Plan of Reorganization proposed, confirmed, or adopted in any Insolvency or
Liquidation Proceeding. To further effectuate the intent of the parties as provided in the immediately preceding sentence, if it is held that any claims of the First Priority Secured Parties and the Second Priority Secured Parties in respect of the
Shared Collateral constitute a single class of claims (rather than separate classes of senior and junior secured claims), then each Second Priority Representative, for itself and on behalf of each Second Priority Secured Party under its Second
Priority Debt Facility, hereby acknowledges and agrees that all distributions from the Shared Collateral shall be made as if there were separate classes of senior and junior secured claims against the Grantors in respect of the Shared Collateral
(with the effect being that, to the extent that the aggregate value of the Shared Collateral is sufficient (for this purpose ignoring all claims held by the Second Priority Secured Parties), the First Priority Secured Parties shall be entitled to
receive, in addition to amounts distributed to them in respect of principal, pre-petition interest, fees, expenses and other claims, all amounts owing in respect of post-petition interest, fees, and expenses
(in each case, whether or not a claim therefor is allowed or allowable in such Insolvency or Liquidation Proceeding) before any distribution from the Shared Collateral is made in respect of the Second Priority Debt Obligations, with each Second
Priority Representative, for itself and on behalf of each Second Priority Secured Party under its Second Priority Debt Facility, hereby acknowledging and agreeing to turn over to the Designated First Priority Representative amounts otherwise
received or receivable by them to the extent necessary to effectuate the intent of this sentence, even if such turnover has the effect of reducing the claim or recovery of the Second Priority Secured Parties. This
Section 6.05 is intended to govern the relationship between the classes of claims held by the Second Priority Secured Parties, on the one hand, and a collective class of claims comprised of the Exchange Credit Facility
Secured Parties, the Existing Credit Agreement Secured Parties and any Additional First Priority Secured Parties (as opposed to separate classes of each such series of claims), on the other hand, and, for the avoidance of doubt, nothing set forth
herein shall in any way alter or modify the relationship of each series of such separate claims held by the First Priority Secured Parties, including as set forth in the First Lien Pari Passu Intercreditor Agreement, or otherwise cause such
different claims to be combined into one or more classes or otherwise classified in a manner that violates the First Lien Pari Passu Intercreditor Agreement. 

SECTION 6.06. No Waivers Of Rights Of First Priority Secured Parties. Nothing contained herein shall, except as expressly
provided herein, prohibit or in any way limit any First Priority Representative or any other First Priority Secured Party from objecting in any Insolvency or Liquidation Proceeding or otherwise to any action taken by any Second Priority Secured
Party, including the seeking by any Second Priority Secured Party of adequate protection or the asserting by any Second Priority Secured Party of any of its rights and remedies under the Second Priority Debt Documents or otherwise. 

SECTION 6.07. Application. This Agreement, which the parties hereto expressly acknowledge is a “subordination
agreement” under Section 510(a) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law, shall be effective and enforceable before, during and after the commencement of any Insolvency or Liquidation Proceeding. The
relative rights as to the Shared Collateral and Proceeds 

  
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thereof shall continue after the commencement of any Insolvency or Liquidation Proceeding on the same basis as prior to the date of the petition therefor, subject to any court order approving the
financing of, or use of cash collateral by, any Grantor. All references herein to any Grantor shall include such Grantor as a debtor-in-possession and any receiver or
trustee for such Grantor. 
 SECTION 6.08. Other Matters. To the extent that any Second Priority Representative or any
Second Priority Secured Party has or acquires rights under Section 363 or Section 364 of the Bankruptcy Code or any similar provision of any other Bankruptcy Law with respect to any of the Shared Collateral, such Second Priority
Representative, on behalf of itself and each Second Priority Secured Party under its Second Priority Debt Facility, agrees not to assert any such rights without the prior written consent of the Designated First Priority Representative;
provided that if requested by the Designated Priority Representative, such Second Priority Representative shall timely exercise such rights in the manner requested by the Designated First Priority Representatives, including any rights to
payments in respect of such rights. 
 SECTION 6.09. 506(c) Claims. Until the Discharge of First Priority Obligations has
occurred, each Second Priority Representative, on behalf of itself and each Second Priority Secured Party under its Second Priority Debt Facility, agrees that it will not assert or enforce any claim under Section 506(c) of the Bankruptcy Code
or any similar provision of any other Bankruptcy Law senior to or on a parity with the Liens securing the First Priority Obligations for costs or expenses of preserving or disposing of any Shared Collateral. 

SECTION 6.10. Reorganization Securities. 

(a) If, in any Insolvency or Liquidation Proceeding, debt obligations of the reorganized debtor secured by Liens upon any property of the
reorganized debtor are distributed, pursuant to a Plan of Reorganization, on account of both the First Priority Obligations and the Second Priority Debt Obligations, then, to the extent the debt obligations distributed on account of the First
Priority Obligations and on account of the Second Priority Debt Obligations are secured by Liens upon the same assets or property, the provisions of this Agreement will survive the distribution of such debt obligations pursuant to such Plan of
Reorganization and will apply with like effect to the Liens securing such debt obligations. 
 (b) If, in any Insolvency or Liquidation
Proceeding, equity securities of the reorganized debtor are distributed, pursuant to a Plan of Reorganization, on account of both the First Priority Obligations and the Second Priority Debt Obligations, then, such equity securities shall not have
mandatory redemptions or mandatory cash prepayment provisions unless the payment thereof is subordinated to the prior Discharge of First Priority Obligations. 

SECTION 6.11. Post-Petition Interest. 

(a) No Second Priority Representative or any other Second Priority Secured Party shall oppose or seek to challenge any claim by any First
Priority Representative or any First Priority Secured Party for allowance in any Insolvency or Liquidation Proceeding of First Priority Obligations consisting of claims for post-petition interest, fees, costs, expenses, and/or other charges, under
Section 506(b) of the Bankruptcy Code (or any similar provision under any other applicable Bankruptcy Law) or otherwise (for this purpose ignoring all claims and Liens held by the Second Priority Secured Parties on the Shared Collateral). 

(b) No First Priority Representative or any First Priority Secured Party shall oppose or seek to challenge any claim by any Second Priority
Representative or any other Second Priority Secured Party for allowance in any Insolvency or Liquidation Proceeding of Second Priority Debt Obligations consisting of 

  
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claims for post-petition interest, fees, costs, expenses, and/or other charges, under Section 506(b) of the Bankruptcy Code (or any similar provision under any other applicable Bankruptcy
Law) or otherwise, to the extent of the value of the Lien of the Second Priority Representatives on behalf of the Second Priority Secured Parties on the Shared Collateral (after taking into account the First Priority Obligations and all Liens held
by the First Priority Secured Parties on the Shared Collateral). 
 SECTION 6.12. Voting. No Second Priority Representative or
any other Second Priority Secured Party may (whether in its capacity as a secured creditor or an unsecured creditor), directly or indirectly, propose, support, or vote in favor of any Plan of Reorganization (and each shall be deemed to have voted to
reject any Plan of Reorganization) unless such Plan of Reorganization (a) pays off, in cash in full, all First Priority Obligations or (b) is accepted by each class of holders of First Priority Obligations voting thereon in accordance with
Section 1126(c) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law. No Second Priority Representative or any other Second Priority Secured Party may (whether in its capacity as a secured creditor or an unsecured
creditor), directly or indirectly, propose, support, or vote in favor of any Plan of Reorganization (and each shall be deemed to have voted to reject any Plan of Reorganization) that is inconsistent with, or in violation of, the terms of this
Agreement. Except as otherwise provided in this Agreement, the Second Priority Secured Parties shall remain entitled to vote their claims in any Insolvency or Liquidation Proceeding. 

ARTICLE 7 

RELIANCE; ETC 

SECTION 7.01. Reliance. The consent by the First Priority Secured Parties to the execution and delivery of the Second
Priority Debt Documents to which the First Priority Secured Parties have consented and all loans and other extensions of credit made or deemed made on and after the date hereof by the First Priority Secured Parties to any Borrower or any Subsidiary
shall be deemed to have been given and made in reliance upon this Agreement. Each Second Priority Representative, on behalf of itself and each Second Priority Secured Party under its Second Priority Debt Facility, acknowledges that it and such
Second Priority Secured Parties have, as applicable, independently and without reliance on any First Priority Representative or other First Priority Secured Party, and based on documents and information deemed by them appropriate, made their own
credit analysis and decision to enter into the Second Priority Debt Documents to which they are party or by which they are bound, this Agreement and the transactions contemplated hereby and thereby, and they will continue to make their own credit
decision in taking or not taking any action under the Second Priority Debt Documents or this Agreement. 
 SECTION 7.02. No
Warranties Or Liability. Each Second Priority Representative, on behalf of itself and each Second Priority Secured Party under its Second Priority Debt Facility, acknowledges and agrees that neither any First Priority Representative nor
any other First Priority Secured Party has made any express or implied representation or warranty, including with respect to the execution, validity, legality, completeness, collectability or enforceability of any of the First Priority Debt
Documents, the ownership of any Shared Collateral or the perfection or priority of any Liens thereon. The First Priority Secured Parties will be entitled to manage and supervise their respective loans and extensions of credit under the First
Priority Debt Documents in accordance with law and as they may otherwise, in their sole discretion, deem appropriate, and the First Priority Secured Parties may manage their loans and extensions of credit without regard to any rights or interests
that the Second Priority Representatives and the Second Priority Secured Parties have in the Shared Collateral or otherwise, except as otherwise provided in this Agreement. Neither any First Priority Representative nor any other First Priority
Secured Party shall have any duty to any Second Priority Representative or Second Priority Secured Party to act or refrain from acting in a manner that allows, or results in, the occurrence or continuance of an event of default or default under any
agreement any Borrower or any Subsidiary (including the Second Priority Debt Documents), regardless of any knowledge thereof that they may have or be charged with. Except as expressly set forth in this Agreement,

  
 28 

 
the First Priority Representatives, the First Priority Secured Parties, the Second Priority Representatives and the Second Priority Secured Parties have not otherwise made to each other, nor do
they hereby make to each other, any warranties, express or implied, nor do they assume any liability to each other with respect to (a) the enforceability, validity, value or collectability of any of the First Priority Obligations, the Second
Priority Debt Obligations or any guarantee or security which may have been granted to any of them in connection therewith, (b) any Grantor’s title to or right to transfer any of the Shared Collateral or (c) any other matter except as
expressly set forth in this Agreement. No Representative shall be responsible for, nor chargeable with, knowledge of the terms and conditions of any other agreement, instrument, or document other than (x) this Agreement, (y) any other
agreement to which it is a party, and (z) any other agreement, instrument, or document provided to such Representative pursuant to the notice provisions of any agreement to which it is a party, in each case, whether or not an original or a copy
of such agreement, instrument, or document has been provided to such Representative. 
 SECTION 7.03. Obligations
Unconditional. All rights, interests, agreements and obligations of the First Priority Representatives, the First Priority Secured Parties, the Second Priority Representatives and the Second Priority Secured Parties hereunder shall remain
in full force and effect irrespective of: 
 (a) any lack of validity or enforceability of any First Priority Debt Document or any Second
Priority Debt Document; 
 (b) subject to the restrictions in this Agreement, any change in the time, manner or place of payment of, or in
any other terms of, all or any of the First Priority Obligations or Second Priority Debt Obligations, or any amendment or waiver or other modification, including any increase in the amount thereof, whether by course of conduct or otherwise, of the
terms of the First Priority Debt Facilities or any other First Priority Debt Document or of the terms of any Second Priority Debt Document; 

(c) subject to the restrictions in this Agreement, any exchange of any security interest in any Shared Collateral or any other collateral or
any amendment, waiver or other modification, whether in writing or by course of conduct or otherwise, of all or any of the First Priority Obligations or Second Priority Debt Obligations or any guarantee thereof; 

(d) the commencement of any Insolvency or Liquidation Proceeding in respect of any Borrower or any other Grantor; or 

(e) any other circumstances that otherwise might constitute a defense available to, or a discharge of, (i) any Borrower or any other
Grantor in respect of the First Priority Obligations or (ii) any Second Priority Representative or Second Priority Secured Party in respect of this Agreement. 

ARTICLE 8 

MISCELLANEOUS 

SECTION 8.01. Conflicts. In the event of any conflict or inconsistency between the provisions of this Agreement and the
provisions of any First Priority Debt Document or any Second Priority Debt Document, the provisions of this Agreement shall govern. Notwithstanding the foregoing, the relative rights and obligations of (i) the First Priority Representatives and
the First Priority Secured Parties (as among themselves) with respect to any First Priority Collateral shall be governed by the terms of the First Lien Pari Passu Intercreditor Agreement and in the event of any conflict or inconsistency between the
First Lien Pari Passu Intercreditor Agreement and this Agreement, the provisions of the First Lien Pari Passu Intercreditor Agreement shall control and (ii) the Second Priority Representatives and the Second Priority Secured Parties (as amongst
themselves) with respect to any Second Priority Collateral shall be governed by the terms of the Second Lien Collateral Trust Agreement and in the event of any conflict or inconsistency between the Second Lien Collateral Trust Agreement and this
Agreement, the provisions of the Second Lien Collateral Trust Agreement shall control. 

  
 29 

 SECTION 8.02. Continuing Nature of This Agreement; Severability. Subject
to Section 5.06 and Section 6.04, this Agreement shall continue to be effective until the Discharge of First Priority Obligations shall have occurred. This is a continuing agreement of Lien
subordination, and the First Priority Secured Parties may continue, at any time and without notice to the Second Priority Representatives or any Second Priority Secured Party, to extend credit and other financial accommodations and lend monies to or
for the benefit of any Borrower or any Subsidiary constituting First Priority Obligations in reliance hereon. The terms of this Agreement shall survive and continue in full force and effect in any Insolvency or Liquidation Proceeding. Any provision
of this Agreement that is held to be invalid, prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible
to that of the invalid, illegal or unenforceable provisions. 
 SECTION 8.03. Amendments; Waivers. 

(a) No failure or delay on the part of any party hereto in exercising any right or power hereunder shall operate as a waiver thereof, nor
shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights
and remedies of the parties hereto are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by any party therefrom shall in any event be
effective unless the same shall be expressly permitted by paragraph (b) of this Section 8.03, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice or demand
on any party hereto in any case shall entitle such party to any other or further notice or demand in similar or other circumstances. 
 (b)
Neither this Agreement nor any provision hereof may be terminated, waived, amended or modified (other than pursuant to any Joinder Agreement) except pursuant to an agreement or agreements in writing entered into by each Representative (in each case,
acting in accordance with the documents governing the applicable Debt Facility); provided that any such amendment, supplement or waiver which by the terms of this Agreement requires the Borrowers’ consent or which increases the
obligations or reduces the rights of any Borrower or any Grantor, shall require the consent of the Borrowers. Any such amendment, supplement or waiver shall be in writing and shall be binding upon the First Priority Secured Parties and the Second
Priority Secured Parties and their respective successors and assigns. 
 (c) Notwithstanding the foregoing, this Agreement shall be amended
from time to time at the request of either Borrower, and without the consent of any Secured Party, to allow any Class Debt Representative to become a party hereto by execution and delivery of a Joinder Agreement in accordance with
Section 8.09 of this Agreement and, upon such execution and delivery, such Representative and the Secured Parties and First Priority Obligations or Second Priority Debt Obligations of the Debt Facility for which such
Representative is acting shall be subject to the terms hereof. 

  
 30 

 SECTION 8.04. Information Concerning Financial Condition Of The Borrowers And The
Subsidiaries. The First Priority Representatives, the First Priority Secured Parties, the Second Priority Representatives and the Second Priority Secured Parties shall each be responsible for keeping themselves informed of (a) the
financial condition of the Borrowers and their Subsidiaries and all endorsers or guarantors of the First Priority Obligations or the Second Priority Debt Obligations and (b) all other circumstances bearing upon the risk of nonpayment of the
First Priority Obligations or the Second Priority Debt Obligations. The First Priority Representatives, the First Priority Secured Parties, the Second Priority Representatives and the Second Priority Secured Parties shall have no duty to advise any
other party hereunder of information known to it or them regarding such condition or any such circumstances or otherwise. In the event that any First Priority Representative, any First Priority Secured Party, any Second Priority Representative or
any Second Priority Secured Party, in its sole discretion, undertakes at any time or from time to time to provide any such information to any other party, it shall be under no obligation to (i) make, and the First Priority Representatives, the
First Priority Secured Parties, the Second Priority Representatives and the Second Priority Secured Parties shall not make or be deemed to have made, any express or implied representation or warranty, including with respect to the accuracy,
completeness, truthfulness or validity of any such information so provided, (ii) provide any additional information or to provide any such information on any subsequent occasion, (iii) undertake any investigation or (iv) disclose any
information that, pursuant to accepted or reasonable commercial finance practices, such party wishes to maintain confidential or is otherwise required to maintain confidential. 

SECTION 8.05. Subrogation. Each Second Priority Representative, on behalf of itself and each Second Priority Secured Party
under its Second Priority Debt Facility, hereby agrees not to assert any rights of subrogation it may acquire as a result of any payment hereunder until the Discharge of First Priority Obligations has occurred. 

SECTION 8.06. Application of Payments. Except as otherwise provided herein, all payments received by the First Priority
Secured Parties may be applied, reversed and reapplied, in whole or in part, to such part of the First Priority Obligations as the First Priority Secured Parties, in their sole discretion, deem appropriate, consistent with the terms of the First
Lien Pari Passu Intercreditor Agreement and First Priority Debt Documents. Except as otherwise provided herein, each Second Priority Representative, on behalf of itself and each Second Priority Secured Party under its Second Priority Debt Facility,
assents to any such extension or postponement of the time of payment of the First Priority Obligations or any part thereof and to any other indulgence with respect thereto, to any substitution, exchange or release of any security that may at any
time secure any part of the First Priority Obligations and to the addition or release of any other Person primarily or secondarily liable therefor. 

SECTION 8.07. Additional Grantors. Each Borrower agrees that, if any Subsidiary or other Person shall become a Grantor
after the date hereof, it will promptly cause such Subsidiary or Person to become a party hereto by executing and delivering an instrument in the form of Annex I. Upon such execution and delivery, such Subsidiary will become a Grantor
hereunder with the same force and effect as if originally name as a Grantor herein. The execution and delivery of such instrument shall not require the consent of any other party hereunder, and the rights and obligations of each party hereto shall
remain in full force and effect. 
 SECTION 8.08. [Reserved]. 

SECTION 8.09. Additional Debt Facilities. 

(a) To the extent, but only to the extent, expressly permitted by the provisions of the then existing First Priority Debt Documents and the
Second Priority Debt Documents at the time of such incurrence or issuance and sale, any Borrower or any other Grantor may incur or issue and sell one or more series or classes of Additional Second Priority Debt and one or more series or classes of
Additional First Priority Debt. Any such additional class or series of Additional Second Priority Debt (the “Second Priority Class Debt”) may be secured by a junior priority, subordinated Lien on all or part of
the Shared Collateral, 

  
 31 

 
in each case under and pursuant to the relevant Second Priority Collateral Documents for such Second Priority Class Debt, if and subject to the condition that the Representative of any such
Second Priority Class Debt (each, a “Second Priority Class Debt Representative”), acting on behalf of the holders of such Second Priority Class Debt (such Representative and holders in respect of any
Second Priority Class Debt being referred to as the “Second Priority Class Debt Parties”), becomes a party to this Agreement by satisfying the conditions set forth in clauses (i) through
(iii), as applicable, of the immediately succeeding paragraph and becomes a party and bound by the Second Lien Collateral Trust Agreement. Any such additional class or series of Additional First Priority Debt (the “First Priority
Class Debt”; and the First Priority Class Debt and Second Priority Class Debt, collectively, the “Class Debt”) may be secured by a senior Lien on Shared Collateral, in each
case under and pursuant to the First Priority Collateral Documents, if and subject to the condition that the Representative of any such First Priority Class Debt (each, a “First Priority Class Debt
Representative”; and the First Priority Class Debt Representatives and Second Priority Class Debt Representatives, collectively, the “Class Debt Representatives”), acting on behalf of the
holders of such First Priority Class Debt (such Representative and holders in respect of any such First Priority Class Debt being referred to as the “First Priority Class Debt Parties”; and the First
Priority Class Debt Parties and Second Priority Class Debt Parties, collectively, the “Class Debt Parties”), becomes a party to this Agreement by satisfying the conditions set forth in clauses
(i) through (iii), as applicable, of the immediately succeeding paragraph and becomes a party to and bound by the First Lien Pari Passu Intercreditor Agreement in the manner set forth therein. In order for a Class Debt
Representative to become a party to this Agreement: 
 (i) such Class Debt Representative shall have executed and
delivered a Joinder Agreement substantially in the form of Annex II (if such Representative is a Second Priority Class Debt Representative) or Annex III (if such Representative is a First Priority Class Debt Representative)
(with such changes as may be reasonably approved by the Designated First Priority Representative and such Class Debt Representative and, to the extent such changes increase the obligations or reduce the rights of a Borrower or a Grantor, the
Borrowers), acknowledged by the Borrowers and the other Grantors, pursuant to which it becomes a Representative hereunder, and the Class Debt in respect of which such Class Debt Representative is the Representative and the related
Class Debt Parties become subject hereto and bound hereby; 
 (ii) the Borrowers shall have delivered to the Designated
First Priority Representative and Designated Second Priority Representative an Officer’s Certificate stating that the conditions set forth in this Section 8.09 are satisfied with respect to such Class Debt and, if
requested by the Designated First Priority Representative or Designated Second Priority Representative, true and complete copies of each of the Second Priority Debt Documents or First Priority Debt Documents, as applicable, relating to such
Class Debt, certified as being true, complete and correct by a Responsible Officer of the Borrowers on behalf of the relevant Grantor and identifying the obligations to be designated as Additional First Priority Debt or Additional Second
Priority Debt, as applicable, and certifying that such obligations are expressly permitted to be incurred and secured (A) in the case of Additional First Priority Debt, on a senior basis under each of the First Priority Debt Documents and
Second Priority Debt Documents and (B) in the case of Additional Second Priority Debt, on a junior basis under each of the First Priority Debt Documents and Second Priority Debt Documents; and 

(iii) the Second Priority Debt Documents or First Priority Debt Documents, as applicable, relating to such Class Debt
shall provide (or shall be amended), in a manner reasonably satisfactory to the Designated First Priority Representative, that each Class Debt Party with respect to such Class Debt will be subject to and bound by the provisions of this
Agreement in its capacity as a holder of such Class Debt. 

  
 32 

 (iv) With respect to any Class Debt that is issued or incurred after
the date hereof, the Borrowers and each of the other Grantors agrees that the Borrowers will take, as applicable, such actions (if any) as may from time to time reasonably be requested by any First Priority Representative or any Second Priority
Representative, and enter into such technical amendments, modifications and/or supplements to the then existing Collateral Documents (or execute and deliver such additional Collateral Documents) as may from time to time be reasonably requested by
such Persons, to ensure that the Class Debt is secured by, and entitled to the benefits of, the relevant Collateral Documents relating to such Class Debt, and each Secured Party (by its acceptance of the benefits hereof) hereby agrees to,
and authorizes each applicable First Priority Representative and each applicable Second Priority Representative, as the case may be, to enter into, any such technical amendments, modifications and/or supplements (and additional Collateral
Documents). 
 SECTION 8.10. Consent To Jurisdiction; Waivers. Each Representative, on behalf of itself and the Secured
Parties of the Debt Facility for which it is acting, irrevocably and unconditionally: 
 (a) submits for itself and its property in any
legal action or proceeding relating to this Agreement, or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction of the courts of the State of New York in the County of New York, the courts of the
United States of America for the Southern District of New York in the County of New York, and appellate courts from any thereof; 
 (b)
consents that any such action or proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an
inconvenient court and agrees not to plead or claim the same; 
 (c) agrees that service of process in any such action or proceeding may be
effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to such Person (or its Representative) at the address referred to in Section 8.11; 

(d) agrees that nothing herein shall affect the right of any other party hereto (or any Secured Party) to effect service of process in any
other manner permitted by law; and 
 (e) waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in
any legal action or proceeding referred to in this Section 8.10 any special, exemplary, punitive or consequential damages. 

SECTION 8.11. Notices. All notices, requests, demands and other communications provided for or permitted hereunder shall be
in writing and shall be sent: 
  

	 	(i)	 if to either Borrower or any Grantor, to the Borrowers, at their address at: 

The GEO Group, Inc. 
 4955
Technology Way 
 Boca Raton, Florida 33431 

Attention: Brian Evans 

Telephone No.: 561-999-7401 

Telecopy No.: 561-999-7742 

Email: bevans@geogroup.com 

  
 33 

 With a copy to: 

Akerman LLP 
 Three Brickell
City Centre 
 98 Southeast Seventh Street 

Suite 1100 
 Miami, Florida
33131 
 Attention: William C. Arnhols 

Telephone No.: 305-982-5623 

Telecopy No.: 305-374-5095 

Email: william.arnhols@akerman.com 

and 
 The GEO Group, Inc.

 4955 Technology Way 
 Boca
Raton, Florida 33431 
 Attention: Joe Negron 

Telephone No.: 561-999-7350 

Telecopy No.: 561-999-7647 

Email: jnegron@geogroup.com 
  

	 	(ii)	 if to the Exchange Credit Facility Agent, to it at: 

Alter Domus Products Corp. 
 225
W. Washington Street, 9th Floor 
 Chicago, Illinois 60606 

Attention: Legal Department – Agency, Emily Ergang Pappas and Vincent Bonano 

Tel: (312) 564-5100 

Email: legal_agency@alterdomus.com, emily.ergangpappas@alterdomus.com and vincent.bonano@alterdomus.com 

With a copy to: 

Holland & Knight LLP 

150 N. Riverside Plaza, Suite 2700 

Chicago, Illinois 60606 

Attention: Joshua M. Spencer 

Phone: (312) 263-3600 

Email: joshua.spencer@hklaw.com 
  

	 	(iii)	 if to the Existing Credit Facility Agent, to it at: 

Alter Domus Products Corp. 
 225
W. Washington Street, 9th Floor 
 Chicago, Illinois 60606 

  
 34 

 Attention: Legal Department – Agency, Emily Ergang Pappas and Vincent Bonano 

Tel: (312) 564-5100 

Email: legal_agency@alterdomus.com, emily.ergangpappas@alterdomus.com and vincent.bonano@alterdomus.com 

With a copy to: 

Holland & Knight LLP 

150 N. Riverside Plaza, Suite 2700 

Chicago, Illinois 60606 

Attention: Joshua M. Spencer 

Phone: (312) 263-3600 

Email: joshua.spencer@hklaw.com 

and 
 Mayer Brown LLP 

1221 Avenue of the Americas 

New York, New York 10020 

Attention: Scott Zemser 
 Phone:
(212) 560-2342 
 Email: szemser@mayerbrown.com 

 

	 	(iv)	 if to the Initial Second Lien Representative, to it at: 

Ankura Trust Company, LLC 
 140
Sherman Street, 4th Floor 
 Fairfield, CT 06824 

Attention: Krista Gulalo, Managing Director 

Tel: 475-282-1580 

Email: krista.gulalo@ankura.com 

Ankura Trust Company, LLC 
 140
Sherman Street, 4th Floor 
 Fairfield, CT 06824 

Attention: Beth Micena, Managing Director 

Tel: 203-257-2134 

Email: beth.micena@ankura.com 
  

	 	(v)	 if to any other Representative, to it at the address specified by it in the Joinder Agreement delivered by it
pursuant to Section 8.09. 

 Unless otherwise specifically provided herein, all notices and
other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt if delivered by hand or overnight courier service or sent by fax or on the date five
Business Days after dispatch by certified or registered mail if mailed, in each case delivered, sent or mailed (properly addressed) to such party as provided in this Section 8.11 or in accordance with the latest unrevoked
direction from such party given in accordance with this Section 8.11. As agreed to among each Borrower, each Representative and the applicable lenders from time to time, notices and other communications may also be
delivered by e-mail to the email address of a representative of the applicable Person provided from time to time by such Person. 

  
 35 

 SECTION 8.12. Further Assurances. Each First Priority Representative, on
behalf of itself and each First Priority Secured Party under the First Priority Debt Facility for which it is acting, and each Second Priority Representative, on behalf of itself, and each Second Priority Secured Party under its Second Priority Debt
Facility, agrees that it will take such further action and shall execute and deliver such additional documents and instruments (in recordable form, if requested) as the other parties hereto may reasonably request to effectuate the terms of, and the
Lien priorities contemplated by, this Agreement. 
 SECTION 8.13. Governing Law; Waiver Of Jury Trial. 

(A) THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT, WHETHER IN TORT, CONTRACT (AT LAW OR
IN EQUITY) OR OTHERWISE, SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

(B) EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY
JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO CERTIFIES THAT NO REPRESENTATIVE, AGENT
OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO
ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 SECTION 8.14.
Binding On Successors And Assigns. This Agreement shall be binding upon the First Priority Representatives, the First Priority Secured Parties, the Second Priority Representatives, the Second Priority Secured Parties, each Borrower,
the other Grantors party hereto and their respective successors and assigns. 
 SECTION 8.15. Section Titles. The section
titles contained in this Agreement are and shall be without substantive meaning or content of any kind whatsoever and are not a part of this Agreement. 

SECTION 8.16. Counterparts. This Agreement may be executed in one or more counterparts, including by means of facsimile or
other electronic method, each of which shall be an original and all of which shall together constitute one and the same document. Delivery of an executed signature page to this Agreement by facsimile or other electronic transmission shall be as
effective as delivery of a manually signed counterpart of this Agreement. 
 SECTION 8.17. Authorization. By its
signature, each Person executing this Agreement on behalf of a party hereto represents and warrants to the other parties hereto that it is duly authorized to execute this Agreement. The Exchange Credit Facility Agent represents and warrants that
this Agreement is binding upon the Exchange Credit Facility Secured Parties. The Existing Credit Facility Agent represents and warrants that this Agreement is binding upon the Existing Credit Facility Secured Parties. The Initial Second Lien
Representative represents and warrants that this Agreement is binding upon the Initial Second Priority Debt Secured Parties. 

  
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 SECTION 8.18. Third Party Beneficiaries; Successors And Assigns. The lien
priorities set forth in this Agreement and the rights and benefits hereunder in respect of such lien priorities shall inure solely to the benefit of the First Priority Representatives, the First Priority Secured Parties, the Second Priority
Representatives and the Second Priority Secured Parties, and their respective permitted successors and assigns, and no other Person (including the Grantors, or any trustee, receiver, debtor in possession or bankruptcy estate in a bankruptcy or like
proceeding) shall have or be entitled to assert such rights. However, the Borrowers and the Grantors are third-party beneficiaries of Sections 2.02, 3.01(c), 5.01, 5.03, 6.07 and Article 8 hereof. 

SECTION 8.19. Effectiveness. This Agreement shall become effective when executed and delivered by the parties hereto. 

SECTION 8.20. Exchange Credit Facility Agent, Existing Credit Facility Agent, Second Lien Secured Notes Collateral Trustee and other
Representatives. It is understood and agreed that (a) the Exchange Credit Facility Agent is entering into this Agreement in its capacity as administrative agent under the Exchange Credit Agreement and the provisions of Article VIII
of the Exchange Credit Agreement applicable to the Administrative Agent (as defined therein) thereunder shall also apply to the Exchange Credit Facility Agent hereunder, (b) the Existing Credit Facility Agent is entering into this Agreement in
its capacity as administrative agent under the Existing Credit Agreement and the provisions of Article VIII of the Existing Credit Agreement applicable to the Administrative Agent (as defined therein) thereunder shall also apply to the Existing
Credit Facility Agent hereunder, (c) the Second Lien Notes Collateral Trustee is entering into this Agreement in its capacity as Second Lien Notes Collateral Trustee under the Second Lien Collateral Trust Agreement at the direction of the
Second Priority Secured Parties thereunder, shall not be responsible for (and makes no representation as to) the terms, validity or sufficiency of this Agreement and it shall enjoy all of the rights, immunities, privileges, protections and
indemnities granted to it under the Second Lien Collateral Trust Agreement and (d) each other Representative party hereto is entering into this Agreement in its capacity as trustee or agent for the secured parties referenced in the applicable
Additional First Priority Debt Document or Additional Second Priority Debt Document (as applicable) and the corresponding exculpatory and liability-limiting provisions of such agreement applicable to such Representative thereunder shall also apply
to such Representative hereunder. Notwithstanding any other provision of this Agreement, nothing herein shall be construed to impose any fiduciary duty, regardless of whether a default or Event of Default has occurred and is continuing, on the
Second Lien Notes Collateral Trustee. Whenever reference is made in this Agreement to any action by, consent, designation, specification, requirement or approval of, notice, request or other communication from, or other direction given or action to
be undertaken or to be (or not to be) suffered or omitted by the Second Lien Notes Collateral Trustee or to any election, decision, opinion, acceptance, use of judgment, expression of satisfaction or other exercise of discretion, rights or remedies
to be made (or not to be made) by the Second Lien Notes Collateral Trustee, it is understood that in all cases the Second Lien Notes Collateral Trustee shall be acting, giving, withholding, suffering, omitting, taking or otherwise undertaking and
exercising the same (or shall not be undertaking and exercising the same) in accordance with the Second Lien Collateral Trust Agreement and the Indenture (as defined under the Second Lien Collateral Trust Agreement). 

SECTION 8.21. Relative Rights. Notwithstanding anything in this Agreement to the contrary (except to the extent expressly
contemplated by Sections 5.01(a), 5.01(d) or 5.03(b)), nothing in this Agreement is intended to or will (a) amend, waive or otherwise modify the provisions of the Exchange Credit Agreement, the Existing Credit Agreement, or
any other First Priority Debt Document or permit either Borrower or any other Grantor to take any action, or fail to take any action, to the extent such action 

  
 37 

 
or failure would otherwise constitute a breach of, or default under, the Exchange Credit Agreement, the Existing Credit Agreement, or any other First Priority Debt Document, (b) change the
relative priorities of the First Priority Obligations or the Liens granted under the First Priority Collateral Documents on the Shared Collateral (or any other assets) as among the First Priority Secured Parties, (c) otherwise change the
relative rights of the First Priority Secured Parties in respect of the Shared Collateral as among such First Priority Secured Parties or (d) obligate either Borrower or any other Grantor to take any action, or fail to take any action, that
would otherwise constitute a breach of, or default under, the Exchange Credit Agreement, the Existing Credit Agreement, or any other First Priority Debt Document. 

SECTION 8.22. Survival of Agreement. All covenants, agreements, representations and warranties made by any party in this
Agreement shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement. 

SECTION 8.23. Integration. This Agreement together with the other First Priority Debt Documents and Second Priority Debt
Documents represents the entire agreement of each of the Grantors, the First Priority Secured Parties and the Second Priority Secured Parties with respect to the subject matter hereof and there are no promises, undertakings, representations or
warranties by an Grantor, any Representative or any other Secured Party relative to the subject matter hereof not expressly set forth or referred to herein or in any other First Priority Debt Document or Second Priority Debt Document. 

[Remainder of page intentionally left blank] 
  

  
 38 

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

			
	Alter Domus Products Corp.,
	as Exchange Credit Facility Agent
		
	By:	 	 /s/ Pinju Chiu

		 	Name: Pinju Chiu
		 	Title: Associate Counsel
	
	Alter Domus Products Corp.,
	as Existing Credit Facility Agent
		
	By:	 	 /s/ Pinju Chiu

		 	Name: Pinju Chiu
		 	Title: Associate Counsel

 First Lien/Second Lien Intercreditor Agreement – The GEO Group, Inc. 

 
			
	Ankura Trust Company, LLC,
	as Second Lien Secured Notes Collateral Trustee
		
	By:	 	 /s/ Pinju Chiu

		 	Name: Pinju Chiu
		 	Title: Associate Counsel

 First Lien/Second Lien Intercreditor Agreement – The GEO Group, Inc. 

 ACKNOWLEDGEMENT OF 

FIRST LIEN/SECOND LIEN INTERCREDITOR AGREEMENT 

(Borrowers and the other Grantors) 

Each of the Borrowers and the other Grantors has read the First Lien/Second Lien Intercreditor Agreement, dated as of August 19, 2022,
among Alter Domus Products Corp., as Representative for the Exchange Credit Facility Secured Parties (in such capacity and together with its permitted successors in such capacity, the “Exchange Credit Facility Agent”), Alter Domus
Products Corp., as Representative for the Existing Credit Facility Secured Parties (in such capacity and together with its permitted successors in such capacity, the “Existing Credit Facility Agent”), Ankura Trust Company, LLC, as
Representative for the Second Priority Secured Parties (the “Second Lien Secured Notes Collateral Trustee”), and each additional First Priority Representative and each additional Second Priority Representative that from time
to time becomes a party thereto pursuant to Section 8.09 thereof. Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the First Lien/Second Lien Intercreditor Agreement. 

1. Each of the Borrowers and the other Grantors executes and delivers this instrument to evidence its acknowledgment of and consent to the
First Lien/Second Lien Intercreditor Agreement. Each of the Borrowers and the other Grantors agrees to recognize all rights granted thereby to the Exchange Credit Facility Agent, the Existing Credit Facility Agent, the Second Lien Secured Notes
Collateral Trustee, the Secured Parties, and each additional Representative that becomes a party thereto pursuant to Section 8.09 thereof, and will act in a manner consistent with the agreements set forth therein. 

2. Each of the Borrower and the other Grantors further agrees that it is not an intended beneficiary or third party beneficiary of the First
Lien/Second Lien Intercreditor Agreement (other than as set forth in Section 8.18 thereof). Furthermore, for the avoidance of doubt, each of the Borrowers and the other Grantors acknowledges that it is not a “party” to the First
Lien/Second Lien Intercreditor Agreement. 
 3. Notwithstanding anything to the contrary in the First Lien/Second Lien Intercreditor
Agreement or provided herein, each of the undersigned acknowledges that the Grantors shall not have any right to consent to or approve any amendment, renewal, extension, supplement, modification or waiver of any provision of the First Lien/Second
Lien Intercreditor Agreement except as set forth in Section 8.03 of the First Lien/Second Lien Intercreditor Agreement. 
 [Remainder
of this page intentionally left blank] 
 First Lien/Second Lien Intercreditor Agreement – The GEO Group, Inc. 

 
			
	THE GEO GROUP, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: SVP and CFO
	
	GEO CORRECTIONS HOLDINGS, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP & CFO
	
	ADAPPT, LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, FINANCE, CFO
	
	ARAPAHOE COUNTY RESIDENTIAL CENTER, LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, FINANCE, CFO
	
	BEHAVIORAL ACQUISITION CORP.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: V.P. FINANCE
	
	BEHAVIORAL HOLDING CORP.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: V.P. FINANCE

 First Lien/Second Lien Intercreditor Agreement – The GEO Group, Inc. 

 
			
	B.I. INCORPORATED
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: V.P. FINANCE
	
	BI MOBILE BREATH, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: V.P. FINANCE
	
	BII HOLDING CORPORATION
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: V.P. FINANCE
	
	BII HOLDING I CORPORATION
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: V.P. FINANCE
	
	BROAD REAL ESTATE HOLDINGS LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, FINANCE, CFO
	
	CCC WYOMING PROPERTIES, LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, FINANCE, CFO

 First Lien/Second Lien Intercreditor Agreement – The GEO Group, Inc. 

 
			
	CCMAS LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, FINANCE, CFO
	
	CEC INTERMEDIATE HOLDINGS LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, FINANCE, CFO
	
	CEC PARENT HOLDINGS LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, FINANCE, CFO
	
	CEC STAFFING SOLUTIONS LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, FINANCE, CFO
	
	CIVIGENICS, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, FINANCE, CFO
	
	CIVIGENICS MANAGEMENT SERVICES, LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, FINANCE, CFO

 First Lien/Second Lien Intercreditor Agreement – The GEO Group, Inc. 

 
			
	CIVIGENICS-TEXAS, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, FINANCE, CFO
	
	CLEARSTREAM DEVELOPMENT LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, FINANCE, CFO
	
	COMMUNITY ALTERNATIVES
		
	By:	 	Community Education Centers, Inc.,
		 	its Manager
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, FINANCE, CFO
	
	COMMUNITY CORRECTIONS, LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, FINANCE, CFO
	
	COMMUNITY EDUCATION CENTERS, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, FINANCE, CFO

 First Lien/Second Lien Intercreditor Agreement – The GEO Group, Inc. 

 
			
	CORNELL COMPANIES, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP & CFO
	
	CORNELL CORRECTIONS MANAGEMENT, LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, Finance, CFO
	
	CORNELL CORRECTIONS OF RHODE ISLAND, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP & CFO
	
	CORNELL CORRECTIONS OF TEXAS, INC.
		
	By:	 	 /s/ Brian R. Evan

		 	Name: Brian R. Evans
		 	Title: VP & CFO
	
	CORRECTIONAL PROPERTIES, LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP & CFO

 First Lien/Second Lien Intercreditor Agreement – The GEO Group, Inc. 

 
			
	CORRECTIONAL PROPERTIES PRISON FINANCE LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: V.P. Finance
	
	CORRECTIONAL SERVICES CORPORATION, LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, Finance, CFO
	
	CORRECTIONAL SYSTEMS, LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, Finance, CFO
	
	CPT LIMITED PARTNER, LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: V.P. Finance
	
	CPT OPERATING PARTNERSHIP L.P.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: V.P. Finance
	
	FENTON SECURITY, LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, Finance, CFO

 First Lien/Second Lien Intercreditor Agreement – The GEO Group, Inc. 

 
			
	GEO ACQUISITION II, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: V.P. Finance
	
	GEO CARE LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP & CFO
	
	GEO CPM, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP & CFO
	
	GEO CC3 INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP & CFO
	
	GEO HOLDINGS I, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: V.P. Finance
	
	GEO INTERNATIONAL SERVICES, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP & CFO

 First Lien/Second Lien Intercreditor Agreement – The GEO Group, Inc. 

 
			
	GEO LEASING, LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, Finance, CFO
	
	GEO MANAGEMENT SERVICES, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP & CFO
	
	GEO MCF LP, LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, Finance, CFO
	
	GEO OPERATIONS, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, Finance, CFO
	
	GEO RE HOLDINGS LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP & Treasurer
	
	GEO REENTRY, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP & CFO

 First Lien/Second Lien Intercreditor Agreement – The GEO Group, Inc. 

 
			
	GEO REENTRY OF ALASKA, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP & CFO
	
	GEO REENTRY SERVICES, LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, Finance, CFO
	
	GEO SECURE SERVICES, LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, Finance, CFO
	
	GEO TRANSPORT, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP & Treasurer
	
	GEO/DEL/R/02, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP & CFO
	
	GEO/DEL/T/02, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP & CFO

 First Lien/Second Lien Intercreditor Agreement – The GEO Group, Inc. 

 
			
	HIGHPOINT INVESTMENTS LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, Finance, CFO
	
	MCF GP, LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP & CFO
	
	MINSEC COMPANIES, LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, Finance, CFO
	
	MINSEC TREATMENT, LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, Finance, CFO
	
	MUNICIPAL CORRECTIONS FINANCE L.P.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: V.P. Finance

 First Lien/Second Lien Intercreditor Agreement – The GEO Group, Inc. 

 
			
	PROTOCOL CRIMINAL JUSTICE, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: V.P. Finance
	
	PUBLIC PROPERTIES DEVELOPMENT AND LEASING LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: V.P. Finance
	
	SECON, INC.
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, Finance, CFO
	
	WBP LEASING, LLC
		
	By:	 	 /s/ Brian R. Evans

		 	Name: Brian R. Evans
		 	Title: VP, Finance, CFO

 First Lien/Second Lien Intercreditor Agreement – The GEO Group, Inc. 

 [FORM OF] SUPPLEMENT NO. [    ] (this “Supplement”), dated as
of [___________], [    ], to the FIRST LIEN/SECOND LIEN INTERCREDITOR AGREEMENT, dated as of August 19, 2022 (the “First Lien/Second Lien Intercreditor Agreement”), among Alter Domus Products Corp., as
Representative for the Exchange Credit Facility Secured Parties (in such capacity and together with its permitted successors in such capacity, the “Exchange Credit Facility Agent”), Alter Domus Products Corp., as Representative for
the Existing Credit Facility Secured Parties (in such capacity and together with its permitted successors in such capacity, the “Existing Credit Facility Agent”), Ankura Trust Company, LLC, as Representative for the Second Priority
Secured Parties (the “Second Lien Secured Notes Collateral Trustee”), and each additional First Priority Representative and each additional Second Priority Representative that from time to time becomes a party hereto pursuant
to Section 8.09 thereof, and acknowledged and agreed to by The GEO Group, Inc., a Florida corporation (“GEO”), GEO Corrections Holdings, Inc., a Florida Corporation (“Corrections” and, with GEO, each a
“Borrower” and collectively the “Borrowers”), and the other Grantors (as defined below). 
 A. Capitalized
terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the First Lien/Second Lien Intercreditor Agreement. 

B. Pursuant to certain First Priority Debt Documents and certain Second Priority Debt Documents, certain newly acquired or organized
Subsidiaries of any Borrower are required to enter into the First Lien/Second Lien Intercreditor Agreement. Section 8.07 of the First Lien/Second Lien Intercreditor Agreement provides that such Subsidiaries may become party to the First
Lien/Second Lien Intercreditor Agreement by execution and delivery of an instrument in the form of this Supplement. The undersigned Subsidiary (the “New Grantor”) is executing this Supplement in accordance with the
requirements of the Exchange Credit Agreement, the Existing Credit Agreement, any other First Priority Debt Documents, the Public Notes Indenture, the Private Notes Indenture, and any other Second Priority Debt Documents. 

Accordingly, the Designated First Priority Representative and the New Grantor agree as follows: 

SECTION 1. In accordance with Section 8.07 of the First Lien/Second Lien Intercreditor Agreement, the New Grantor by its signature below
acknowledges the First Lien/Second Lien Intercreditor Agreement with the same force and effect as if originally named on the signature pages thereto as a Grantor. Each reference to a “Grantor” in the First Lien/Second Lien Intercreditor
Agreement shall be deemed to include the New Grantor. The First Lien/Second Lien Intercreditor Agreement is hereby incorporated herein by reference. 

SECTION 2. The New Grantor represents and warrants to the Designated First Priority Representative, the Designated Second Priority
Representative and the other Secured Parties that this Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as such
enforceability may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium or other laws affecting creditors’ rights generally and by general principles of equity. 

SECTION 3. This Supplement may be executed in counterparts, each of which shall constitute an original, but all of which when taken together
shall constitute a single contract. This Supplement shall become effective when the Designated First Priority Representative shall have received a counterpart of this Supplement that bears the signature of the New Grantor. Delivery of an executed
signature page to this Supplement by facsimile transmission or other electronic method shall be as effective as delivery of a manually signed counterpart of this Supplement. 

 SECTION 4. Except as expressly supplemented hereby, the First Lien/Second Lien Intercreditor
Agreement shall remain in full force and effect. 
 SECTION 5. THIS SUPPLEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR
RELATED TO THIS AGREEMENT, WHETHER IN TORT, CONTRACT (AT LAW OR IN EQUITY) OR OTHERWISE, SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

SECTION 6. In case any one or more of the provisions contained in this Supplement should be held invalid, illegal or unenforceable in any
respect, no party hereto shall be required to comply with such provision for so long as such provision is held to be invalid, illegal or unenforceable, but the validity, legality and enforceability of the remaining provisions contained herein and in
the First Lien/Second Lien Intercreditor Agreement shall not in any way be affected or impaired. The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the
economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 SECTION 7. All
communications and notices hereunder shall be in writing and given as provided in Section 8.11 of the First Lien/Second Lien Intercreditor Agreement. All communications and notices hereunder to the New Grantor shall be given to it in care of
the Borrowers as specified in the First Lien/Second Lien Intercreditor Agreement. 
 SECTION 8. The Borrowers or the New Grantor shall
reimburse the Designated First Priority Representative for its reasonable out-of-pocket expenses in connection with this Supplement, including the reasonable fees, other
charges and disbursements of counsel for the Designated First Priority Representative. 
 [Remainder of page intentionally left blank]

 IN WITNESS WHEREOF, the New Grantor and the Designated First Priority Representative have
duly executed this Supplement acknowledging the First Lien/Second Lien Intercreditor Agreement as of the day and year first above written. 
  

			
	[NAME OF NEW GRANTOR]
		
	By:	 	          

		 	Name:
		 	Title:

  

			
	Acknowledged by:
	
	[    ], as Designated First Priority Representative
		
	By:	 	
                     

		 	Name:
		 	Title:

 ANNEX II 

[FORM OF] REPRESENTATIVE SUPPLEMENT NO. [    ] (this “Representative Supplement”), dated as of [____________],
[    ], to the FIRST LIEN/SECOND LIEN INTERCREDITOR AGREEMENT, dated as of August 19, 2022 (the “First Lien/Second Lien Intercreditor Agreement”), among Alter Domus Products Corp., as Representative for the
Exchange Credit Facility Secured Parties (in such capacity and together with its permitted assigns in such capacity, the “Exchange Credit Facility Agent”), Alter Domus Products Corp., as Representative for the Existing Credit
Facility Secured Parties (in such capacity and together with its permitted successors in such capacity, the “Existing Credit Facility Agent”), Ankura Trust Company, LLC, as Representative for the Second Priority Secured Parties (the
“Second Lien Secured Notes Collateral Trustee”), and each additional First Priority Representative and each additional Second Priority Representative that from time to time becomes a party hereto pursuant to Section 8.09
thereof, and acknowledged and agreed to by The GEO Group, Inc., a Florida corporation (“GEO”), GEO Corrections Holdings, Inc., a Florida Corporation (“Corrections” and, with GEO, each a “Borrower”
and collectively the “Borrowers”), and the other Grantors (as defined below). 
 A. Capitalized terms used herein but not
otherwise defined herein shall have the meanings assigned to such terms in the First Lien/Second Lien Intercreditor Agreement. 
 B. As a
condition to the ability of any Borrower or any other Grantor to incur Second Priority Class Debt and to secure such Second Priority Class Debt with the Second Priority Lien and to have such Second Priority Class Debt guaranteed by
the Grantors on a subordinated basis, in each case under and pursuant to the Second Priority Collateral Documents, the Second Priority Class Debt Representative in respect of such Second Priority Class Debt is required to become a
Representative under, and such Second Priority Class Debt and the Second Priority Class Debt Parties in respect thereof are required to become subject to and bound by, the First Lien/Second Lien Intercreditor Agreement. Section 8.09
of the First Lien/Second Lien Intercreditor Agreement provides that such Second Priority Class Debt Representative may become a Representative under, and such Second Priority Class Debt and such Second Priority Class Debt Parties may
become subject to and bound by, the First Lien/Second Lien Intercreditor Agreement, pursuant to the execution and delivery by the Second Priority Class Debt Representative of an instrument in the form of this Representative Supplement and the
satisfaction of the other conditions set forth in Section 8.09 of the First Lien/Second Lien Intercreditor Agreement. The undersigned Second Priority Class Debt Representative (the “New Representative”) is executing this
Supplement in accordance with the requirements of the First Priority Debt Documents and the Second Priority Debt Documents. 
 Accordingly,
the Designated First Priority Representative, the Designated Second Priority Representative and the New Representative agree as follows: 

SECTION 1. In accordance with Section 8.09 of the First Lien/Second Lien Intercreditor Agreement, the New Representative (acting as
[agent] [trustee] under [DESCRIBE AGREEMENT]), by its signature below becomes a Representative under, and the related Second Priority Class Debt and Second Priority Class Debt Parties become subject to and bound by, the First Lien/Second
Lien Intercreditor Agreement with the same force and effect as if the New Representative had originally been named therein as a Representative, and the New Representative, on behalf of itself and such Second Priority Class Debt Parties, hereby
agrees to all the terms and provisions of the First Lien/Second Lien Intercreditor Agreement applicable to it as a Second Priority Representative and to the Second Priority Class Debt Parties that it represents as Second Priority Secured
Parties. Each reference to a “Representative” or “Second Priority Representative” in the First Lien/Second Lien Intercreditor Agreement shall be deemed to include the New Representative. The First Lien/Second Lien
Intercreditor Agreement is hereby incorporated herein by reference. 

 SECTION 2. The New Representative represents and warrants to the Designated First Priority
Representative, the Designated Second Priority Representative and the other Secured Parties that (i) it has the full power and authority to enter into this Representative Supplement, in its capacity as [agent][trustee] under [DESCRIBE AGREEMENT],
(ii) this Representative Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligations, enforceable against it in accordance with its terms and (iii) the Second Priority Debt
Documents relating to such Second Priority Class Debt provide that, upon the New Representatives entry into this Representative Supplement, the Second Priority Class Debt Parties in respect of such Second Priority Class Debt will be
subject to and bound by the provisions of the First Lien/Second Lien Intercreditor Agreement as Second Priority Secured Parties. 
 SECTION
3. This Representative Supplement may be executed in counterparts, each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Representative Supplement shall become effective when
(1) the Designated First Priority Representative shall have received a counterpart of this Representative Supplement that bears the signature of the New Representative and (2) the New Representative has become party to and bound by the
Second Lien Collateral Trust Agreement in the manner set forth therein. Delivery of an executed signature page to this Representative Supplement by facsimile transmission or other electronic method shall be effective as delivery of a manually signed
counterpart of this Representative Supplement. 
 SECTION 4. Except as expressly supplemented hereby, the First Lien/Second Lien
Intercreditor Agreement shall remain in full force and effect. 
 SECTION 5. THIS REPRESENTATIVE SUPPLEMENT AND ANY CLAIM, CONTROVERSY OR
DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT, WHETHER IN TORT, CONTRACT (AT LAW OR IN EQUITY) OR OTHERWISE, SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

SECTION 6. The provisions of Section 8.10 and Section 8.13(B) of the First Lien/Second Lien Intercreditor Agreement shall apply
mutatis mutandis to this Representative Supplement. 
 SECTION 7. In case any one or more of the provisions contained in this Representative
Supplement should be held invalid, illegal or unenforceable in any respect, no party hereto shall be required to comply with such provision for so long as such provision is held to be invalid, illegal or unenforceable, but the validity, legality and
enforceability of the remaining provisions contained herein and in the First Lien/Second Lien Intercreditor Agreement shall not in any way be affected or impaired. The parties hereto shall endeavor in good-faith negotiations to replace the invalid,
illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

SECTION 8. All communications and notices hereunder shall be in writing and given as provided in Section 8.11 of the First Lien/Second
Lien Intercreditor Agreement. All communications and notices hereunder to the New Representative shall be given to it at the address set forth below its signature hereto. 

SECTION 9. The Borrowers agree to reimburse the Designated First Priority Representative and Designated Second Priority Representative for its
reasonable out-of-pocket expenses in connection with this Representative Supplement, including the reasonable fees, other charges and disbursements of counsel for the
Designated First Priority Representative and Designated Second Priority Representative. 
 [Remainder of page intentionally left
blank] 

 IN WITNESS WHEREOF, the New Representative, the Designated First Priority Representative and
the Designated Second Priority Representative have duly executed this Representative Supplement to the First Lien/Second Lien Intercreditor Agreement as of the day and year first above written. 

 

			
	[NAME OF NEW REPRESENTATIVE],
	as [    ] for the holders of [    ]
		
	By:	 	              

		 	Name:
		 	Title:
	
	Address for notices:
	
	              

	
	attention
of:                                        
                        
	
	Telecopy:                                  
                                  
	
	[        ],
	as Designated First Priority Representative
		
	By:	 	
                 

		 	Name:
		 	Title:
	
	[        ],
	as Designated Second Priority Representative
		
	By:	 	
                     

		 	Name:
		 	Title:

			
	Acknowledged by:
	
	[BORROWERS AND THE GRANTORS]
		
	By:	 	          

		 	Name:
		 	Title:

 ANNEX III 

[FORM OF] REPRESENTATIVE SUPPLEMENT NO. [    ], dated as of [___________], [    ] (this
“Representative Supplement”), to the FIRST LIEN/SECOND LIEN INTERCREDITOR AGREEMENT, dated as of August 19, 2022 (the “First Lien/Second Lien Intercreditor Agreement”), among Alter Domus Products Corp., as
Representative for the Exchange Credit Facility Secured Parties (in such capacity and together with its permitted successors in such capacity, the “Exchange Credit Facility Agent”), Alter Domus Products Corp., as Representative for
the Existing Credit Facility Secured Parties (in such capacity and together with its permitted successors in such capacity, the “Existing Credit Facility Agent”), Ankura Trust Company, LLC, as Representative for the Second Priority
Secured Parties (the “Second Lien Secured Notes Collateral Trustee”), and each additional First Priority Representative and each additional Second Priority Representative that from time to time becomes a party hereto pursuant
to Section 8.09 thereof, and acknowledged and agreed to by The GEO Group, Inc., a Florida corporation (“GEO”), GEO Corrections Holdings, Inc., a Florida Corporation (“Corrections” and, with GEO, each a
“Borrower” and collectively the “Borrowers”), and the other Grantors (as defined below). 
 A. Capitalized
terms used herein but not otherwise defined herein shall have the meanings assigned to such terms in the First Lien/Second Lien Intercreditor Agreement. 

B. As a condition to the ability of any Borrower or any other Grantor to incur First Priority Class Debt after the date of the First
Lien/Second Lien Intercreditor Agreement and to secure such First Priority Class Debt with the First Priority Lien and to have such First Priority Class Debt guaranteed by the Grantors on a senior basis, in each case under and pursuant to
the First Priority Collateral Documents, the First Priority Class Debt Representative in respect of such First Priority Class Debt is required to become a Representative under, and such First Priority Class Debt and the First Priority
Class Debt Parties in respect thereof are required to become subject to and bound by, the First Lien/Second Lien Intercreditor Agreement. Section 8.09 of the First Lien/Second Lien Intercreditor Agreement provides that such First Priority
Class Debt Representative may become a Representative under, and such First Priority Class Debt and such First Priority Class Debt Parties may become subject to and bound by, the First Lien/Second Lien Intercreditor Agreement,
pursuant to the execution and delivery by the First Priority Class Debt Representative of an instrument in the form of this Representative Supplement and the satisfaction of the other conditions set forth in Section 8.09 of the First
Lien/Second Lien Intercreditor Agreement. The undersigned First Priority Class Debt Representative (the “New Representative”) is executing this Supplement in accordance with the requirements of the First Priority Debt
Documents and the Second Priority Debt Documents. 
 Accordingly, the Designated First Priority Representative, the Designated Second
Priority Representative and the New Representative agree as follows: 
 SECTION 1. In accordance with Section 8.09 of the First
Lien/Second Lien Intercreditor Agreement, the New Representative (acting as [agent] [trustee] under [DESCRIBE AGREEMENT]) by its signature below becomes a Representative under, and the related First Priority Class Debt and First Priority
Class Debt Parties become subject to and bound by, the First Lien/Second Lien Intercreditor Agreement with the same force and effect as if the New Representative had originally been named therein as a Representative, and the New Representative,
on behalf of itself and such First Priority Class Debt Parties, hereby agrees to all the terms and provisions of the First Lien/Second Lien Intercreditor Agreement applicable to it as a First Priority Representative and to the First Priority
Class Debt Parties that it represents as First Priority Secured Parties. Each reference to a “Representative” or “First Priority Representative” in the First Lien/Second Lien Intercreditor Agreement shall be
deemed to include the New Representative. The First Lien/Second Lien Intercreditor Agreement is hereby incorporated herein by reference. 

 SECTION 2. The New Representative represents and warrants to the Designated First Priority
Representative, the Designated Second Priority Representative and the other Secured Parties that (i) it has the full power and authority to enter into this Representative Supplement, in its capacity as [agent][trustee] under [DESCRIBE AGREEMENT],
(ii) this Representative Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligations, enforceable against it in accordance with its terms and (iii) the First Priority Debt Documents
relating to such First Priority Class Debt provide that, upon the New Representatives entry into this Representative Supplement, the First Priority Class Debt Parties in respect of such First Priority Class Debt will be subject to and
bound by the provisions of the First Lien/Second Lien Intercreditor Agreement as First Priority Secured Parties. 
 SECTION 3. This
Representative Supplement may be executed in counterparts, each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Representative Supplement shall become effective when (1) the
Designated First Priority Representative shall have received a counterpart of this Representative Supplement that bears the signature of the New Representative and (2) the New Representative has become party to and bound by the First Lien Pari
Passu Intercreditor Agreement in the manner set forth therein. Delivery of an executed signature page to this Representative Supplement by facsimile transmission or other electronic method shall be effective as delivery of a manually signed
counterpart of this Representative Supplement. 
 SECTION 4. Except as expressly supplemented hereby, the First Lien/Second Lien
Intercreditor Agreement shall remain in full force and effect. 
 SECTION 5. THIS REPRESENTATIVE SUPPLEMENT AND ANY CLAIM, CONTROVERSY OR
DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT, WHETHER IN TORT, CONTRACT (AT LAW OR IN EQUITY) OR OTHERWISE, SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

SECTION 6. The provisions of Section 8.10 and Section 8.13(B) of the First Lien/Second Lien Intercreditor Agreement shall apply
mutatis mutandis to this Representative Supplement. 
 SECTION 7. In case any one or more of the provisions contained in this Representative
Supplement should be held invalid, illegal or unenforceable in any respect, no party hereto shall be required to comply with such provision for so long as such provision is held to be invalid, illegal or unenforceable, but the validity, legality and
enforceability of the remaining provisions contained herein and in the First Lien/Second Lien Intercreditor Agreement shall not in any way be affected or impaired. The parties hereto shall endeavor in good-faith negotiations to replace the invalid,
illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

SECTION 8. All communications and notices hereunder shall be in writing and given as provided in Section 8.11 of the First Lien/Second
Lien Intercreditor Agreement. All communications and notices hereunder to the New Representative shall be given to it at the address set forth below its signature hereto. 

SECTION 9. The Borrowers agree to reimburse the Designated First Priority Representative and Designated Second Priority Representative for its
reasonable out-of-pocket expenses in connection with this Representative Supplement, including the reasonable fees, other charges and disbursements of counsel for the
Designated First Priority Representative and Designated Second Priority Representative. 
 [Remainder of page intentionally left
blank] 

 IN WITNESS WHEREOF, the New Representative, the Designated First Priority Representative and
the Designated Second Priority Representative have duly executed this Representative Supplement to the First Lien/Second Lien Intercreditor Agreement as of the day and year first above written. 

 

			
	[NAME OF NEW REPRESENTATIVE],
	as [     ] for the holders of [     ]
		
	By:	 	
                 

		 	Name:
		 	Title:
	
	Address for notices:
	
	
                     

	
	attention
of:                                        
                        
	
	Telecopy:                                  
                                  
	
	[     ],
	as Designated First Priority Representative
		
	By:	 	
                     

		 	Name:
		 	Title:
	
	[     ],
	as Designated Second Priority Representative
		
	By:	 	
                     
    

		 	Name:
		 	Title:

			
	Acknowledged by:
	
	[BORROWERS AND THE GRANTORS]
		
	By:	 	
                     

		 	Name:
		 	Title:

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