Document:

Rights Agreement

 Exhibit 4.1 
 A.D.A.M., INC. 
 AND 
 AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC 
 as Rights Agent 
 RIGHTS AGREEMENT 
 Dated as of June 29,
2009 

 TABLE OF CONTENTS 
  

					
			
	 	  	 	  	Page
	 1.
	  	Certain Definitions	  	1
			
	 2.
	  	Appointment of Rights Agent	  	6
			
	 3.
	  	Issuance of Right Certificates	  	6
			
	 4.
	  	Form of Right Certificates	  	8
			
	 5.
	  	Countersignature and Registration	  	9
			
	 6.
	  	Transfer, Split Up, Combination and Exchange of Right Certificates; Mutilated, Destroyed, Lost or Stolen Right Certificates	  	9
			
	 7.
	  	Exercise of Rights; Purchase Price; Expiration Date of Rights	  	11
			
	 8.
	  	Cancellation and Destruction of Right Certificates	  	12
			
	 9.
	  	Reservation and Availability of Shares of Preferred Stock	  	12
			
	 10.
	  	Preferred Stock Record Date	  	13
			
	 11.
	  	Adjustments to Number and Kind of Shares, Number of Rights or Purchase Price	  	14
			
	 12.
	  	Certification of Adjustments or Number of Shares	  	23
			
	 13.
	  	Consolidation, Merger or Sale or Transfer of Assets or Earning Power	  	23
			
	 14.
	  	Fractional Rights and Fractional Shares	  	26
			
	 15.
	  	Rights of Action	  	27
			
	 16.
	  	Agreement of Right Holders	  	28
			
	 17.
	  	Right Certificate Holder Not Deemed a Stockholder	  	28
			
	 18.
	  	Concerning the Rights Agent	  	29
			
	 19.
	  	Merger or Consolidation or Changed Name of Rights Agent	  	29
			
	 20.
	  	Duties of Rights Agent	  	30
			
	 21.
	  	Change of Rights Agent	  	32
			
	 22.
	  	Issuance of New Right Certificates	  	33
			
	 23.
	  	Redemption	  	33

  

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 TABLE OF CONTENTS 
 (continued) 
  

					
			
	 	  	 	  	Page
	 24.
	  	Exchange of Rights for Common Stock	  	34
			
	 25.
	  	Notice of Proposed Actions	  	35
			
	 26.
	  	Notices	  	36
			
	 27.
	  	Supplements and Amendments	  	37
			
	 28.
	  	Successors	  	37
			
	 29.
	  	Benefits of this Rights Agreement	  	37
			
	 30.
	  	Determinations and Actions by the Board of Directors	  	37
			
	 31.
	  	Three Year Independent Director Evaluation	  	38
			
	 32.
	  	Governing Law	  	38
			
	 33.
	  	Counterparts	  	38
			
	 34.
	  	Descriptive Headings	  	38
			
	 35.
	  	Severability	  	38

  

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 RIGHTS AGREEMENT 
 This Rights Agreement (the “Rights Agreement”), is dated as of June 29, 2009, between A.D.A.M., Inc., a Georgia corporation (the “Company”), and American Stock Transfer & Trust
Company, LLC (the “Rights Agent”). 
 W I T N E S S E T H:

 WHEREAS, the Board of Directors of the Company on June 26, 2009 (i) authorized the issuance and declared a dividend of one right
(“Right”) for each share of the common stock, par value $0.01 per share, of the Company outstanding as of the Close of Business (as such term is hereinafter defined) on July 31, 2009 (the “Record Date”), each Right
representing the right to purchase one one-thousandth of a share of Series B Preferred Stock of the Company having the rights, powers and preferences set forth in the form of Articles of Amendment attached hereto as Exhibit A upon the
terms and subject to the conditions hereinafter set forth, and (ii) further authorized and directed the issuance of one Right with respect to each share of Common Stock of the Company that shall become outstanding between the Record Date, and
the Distribution Date (as such term is hereinafter defined); 
 NOW, THEREFORE, in consideration of the premises and the mutual agreements
herein set forth, the parties agree as follows: 
 1. Certain Definitions. For purposes of this Rights Agreement the following terms
shall have the meanings indicated: 
 (a) “Acquiring Person” shall mean any Person (as such term is hereinafter
defined) who or which, together with all Affiliates (as such term is hereinafter defined) and Associates (as such term is hereinafter defined) of such Person shall be the Beneficial Owner (as such term is hereinafter defined) of fifteen percent
(15%) or more of the outstanding Common Stock of the Company, without the prior approval of the Board of Directors; provided, however, that in no event shall a Person who or which, together with all Affiliates and Associates of such Person, is
the Beneficial Owner of less than 15% of the Company’s outstanding Common Stock, become an Acquiring Person solely as a result of a reduction of the number of shares of outstanding Common Stock, including repurchases of outstanding shares of
Common Stock by the Company, which reduction increases the percentage of outstanding shares of Common Stock Beneficially Owned by such Person, provided, further, that if a Person shall become the Beneficial Owner of 15% or more of the
Company’s outstanding Common Stock then outstanding solely by reason of a reduction of the number of shares of outstanding Common Stock, and shall thereafter become the Beneficial Owner of any additional shares of Common Stock of the Company,
then such Person shall be deemed to be an Acquiring Person unless upon the consummation of the acquisition of such additional shares of Common Stock such person does not own 15% or more of the shares of Common Stock then outstanding. An Acquiring
Person shall not include an Exempt Person (as such term is hereinafter defined) or a Grandfathered Person (as such term is hereinafter defined); provided further that a Grandfathered Person shall become an Acquiring Person if a Grandfathered Person,
together with all Affiliates and 

 
Associates of such Grandfathered Person, becomes the Beneficial Owner of the greater of (x) 20% or more of the Company’s Common Stock and (y) such
percentage of the Company’s Common Stock as such Grandfathered Person owns on the date hereof plus five percent (5%) of the Company’s Common Stock; provided, that a Grandfathered Person shall not become an Acquiring
Person solely by reason of a reduction of the number of shares of outstanding Common Stock. Notwithstanding the foregoing, if (i) either (X) the Board of Directors determines in good faith that a Person who would otherwise be an Acquiring
Person, as defined pursuant to the foregoing provisions of this paragraph (a), has become such inadvertently (including, without limitation, because (A) such Person was unaware that it Beneficially Owned a percentage of Common Stock that
would otherwise cause such Person to be an Acquiring Person or (B) such Person was aware of the extent of its Beneficial Ownership but had no actual knowledge of the consequences of such Beneficial Ownership under this Rights Agreement) and
without any intention of changing or influencing control of the Company, or (Y) within two Business Days of being requested by the Company to advise the Company regarding same, such Person certifies in writing that such Person acquired
Beneficial Ownership of 15% or more of the Company’s outstanding Common Stock inadvertently or without knowledge of the terms of the Rights, and (ii) such Person divests as promptly as practicable a sufficient number of shares of Common
Stock so that such Person would no longer be an “Acquiring Person,” as defined pursuant to the foregoing provisions of this paragraph (a), then such Person shall not be deemed to be or to have become an “Acquiring Person”
for any purposes of this Rights Agreement. 
 (b) “Affiliate” and “Associate” shall have the respective
meanings ascribed to such terms in Rule 12b-2 of the General Rules and Regulations under the Exchange Act as in effect on the date of this Rights Agreement. 
 (c) A Person shall be deemed the “Beneficial Owner” of, shall be deemed to “Beneficially Own” and shall be deemed to
have “Beneficial Ownership” of, any securities 
 (i) which such Person or any of such Person’s Affiliates or
Associates beneficially owns, directly or indirectly; 
 (ii) which such Person or any of such Person’s Affiliates or
Associates, directly or indirectly, has (A) the right to acquire (whether such right is exercisable immediately or only after the passage of time) pursuant to any agreement, arrangement or understanding (other than customary agreements with and
between underwriters and selling group members with respect to a bona fide public offering of securities), whether or not in writing, or upon the exercise of conversion rights, exchange rights, rights (other than the Rights), warrants or options, or
otherwise; provided, however, that a Person shall not be deemed the Beneficial Owner of, to Beneficially Own or to have Beneficial Ownership of, securities tendered pursuant to a tender or exchange offer made by such Person or any of such
Person’s Affiliates or Associates until such tendered securities are accepted for purchase or exchange; or (B) the right to vote or dispose of or has “beneficial ownership” of (as determined pursuant to Rule 13d-3 of the
General Rules and Regulations under the Exchange Act, or any comparable or successor rule), including pursuant to any agreement, arrangement or understanding (whether or not in writing); provided, however, that a Person shall not be deemed the
Beneficial Owner of, to Beneficially Own, or to have Beneficial Ownership of, any securities if the agreement, arrangement or understanding to vote such security (1) arises solely from a revocable proxy or consent given in response to a public
proxy or consent solicitation made pursuant to, and in accordance with, the applicable rules and regulations of the Exchange Act and (2) is not also then reportable by such Person on Schedule 13D under the Exchange Act (or any comparable
or successor report); or 
  

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 (iii) which are beneficially owned, directly or indirectly, by any other Person with
which such Person or any of such Person’s Affiliates or Associates has any agreement, arrangement or understanding (whether or not in writing) for the purpose of acquiring, holding, voting except as described in the proviso to clause (B)
of subparagraph (ii) of this Section 1(c) or disposing of any securities of the Company; provided, however, that no Person who is an officer, director or employee of an Exempt Person shall be deemed, solely by reason of such
Person’s status or authority as such, to be the Beneficial Owner of, to have Beneficial Ownership of or to Beneficially Own any securities that are Beneficially Owned (as defined in this Section 1(c)), including, without limitation, in a
fiduciary capacity, by an Exempt Person or by any other such officer, director or employee of an Exempt Person. 
 For all purposes of this
Rights Agreement, any calculation of the number of shares of Common Stock outstanding at any particular time, including any calculation for purposes of determining the particular percentage of such outstanding shares of Common Stock of which any
Person is the Beneficial Owner, shall be made in accordance with the last sentence of Rule 13d-3(d)(1)(i) of the General Rules and Regulations under the Exchange Act as in effect on the date hereof. 
 (d) “Board of Directors” shall mean the Company’s Board of Directors. 
 (e) “Business Day” shall mean any day other than a Saturday, Sunday, or a day on which NASDAQ or banking institutions in the
State of New York or the State of California are authorized or obligated by law or executive order to close. 
 (f)
“Close of Business” on any given date shall mean 5:00 P.M., Atlanta time, on such date; provided, however, that if such date is not a Business Day it shall mean 5:00 P.M., Atlanta time, on the next succeeding Business Day.

 (g) “Common Stock” when used with reference to the Company shall mean the common stock, par value $0.01 per
share, of the Company. “Common Stock” when used with reference to any Person other than the Company which shall be organized in corporate form shall mean the capital stock or other equity security with the greatest per share voting power
of such Person or, if such Person is a Subsidiary of or is controlled by another Person, the Person which ultimately controls such first-mentioned Person. “Common Stock” when used with reference to any Person other than the Company which
shall not be organized in corporate form shall mean units of beneficial interest which shall represent the right to participate in profits, losses, deductions and credits of such Person and which shall be entitled to exercise the greatest voting
power per unit of such Person. 
 (h) “Common Stock Equivalents” shall have the meaning set forth in
Section 11(a)(iii) hereof. 
 (i) “Company” shall have the meaning set forth in the preamble hereto.

  

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 (j) “Current Market Price” shall have the meaning set forth in
Section 11(d) hereof. 
 (k) “Current Value” shall have the meaning set forth in Section 11(a)(iii)
hereof. 
 (l) “Distribution Date” shall have the meaning set forth in Section 3(a) hereof. 
 (m) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 
 (n) “Exempt Person” shall mean the Company or any Subsidiary of the Company, including, without limitation, in its fiduciary
capacity, any employee benefit plan or employee or director stock plan of the Company or of any Subsidiary of the Company, or any Person, organized, appointed, established or holding Common Stock for or pursuant to the terms of any such plan or any
Person funding other employee benefits for employees of the Company or any Subsidiary of the Company. 
 (o) “Expiration
Date” shall have the meaning set forth in Section 7(a) hereof. 
 (p) “Final Expiration Date” shall have
the meaning set forth in Section 7(a) hereof. 
 (q) “Flip-In Event” shall mean any event described in
Section 11(a)(ii)(A), 11(a)(ii)(B) or 11(a)(ii)(C) hereof. 
 (r) “Flip-In Exercise Payment” shall have the
meaning set forth in Section 11(a)(ii) hereof. 
 (s) “Flip-In Trigger Date” shall have the meaning set forth
in Section 11(a)(iii) hereof. 
 (t) “Flip-Over Event” shall mean any event described in clause (x),
(y) or (z) of Section 13(a) hereof. 
 (u) “Flip-Over Exercise Payment” shall have the meaning set
forth in Section 13(a) hereof. 
 (v) “Grandfathered Person” shall mean Burnham Asset Management Corporation,
together with such Person’s Affiliates and Associates, provided that such Persons shall cease to be a Grandfathered Person at such time as such Person, together with such Person’s Affiliates and Associates, ceases to Beneficially Own in
excess of 15% of the Company’s Common Stock. 
 (w) “NASDAQ” shall have the meaning set forth in
Section 9(b) hereof. 
  

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 (x) “Person” shall mean any individual, firm, corporation, partnership, trust,
limited liability company or other entity, and shall include any successor (by merger or otherwise) thereof or thereto. 
 (y)
“Preferred Stock” shall mean the Series B Preferred Stock, $0.01 par value per share of the Company having the rights, powers and preferences set forth in Exhibit A hereto, and, to the extent that there is not a sufficient
number of shares of Series B Preferred Stock authorized to permit the full exercise of the Rights, any other series of Preferred Stock, $0.01 par value per share, of the Company designated for such purpose containing terms substantially similar
to the terms of the Series B Preferred Stock. 
 (z) “Preferred Stock Equivalent” shall have the meaning set
forth in Section 11(b) hereof. 
 (aa) “Principal Party” shall have the meaning set forth in Section 13(b)
hereof. 
 (bb) “Purchase Price” shall have the meaning set forth in Section 4(a) hereof. 
 (cc) “Record Date” shall have the meaning set forth in the Recitals within this Rights Agreement. 
 (dd) “Redemption Date” shall have the meaning set forth in Section 7(a) hereof. 
 (ee) “Redemption Price” shall have the meaning set forth in Section 23(a) hereof. 
 (ff) “Right Certificate” shall have the meaning set forth in Section 3(a) hereof. 
 (gg) “Securities Act” shall mean the Securities Act of 1933, as amended. 
 (hh) “Spread” shall have the meaning set forth in Section 11(a)(iii) hereof. 
 (ii) “Stock Acquisition Date” shall mean the first date of public announcement by the Company or an Acquiring Person that an
Acquiring Person has become such or such earlier date as a majority of the directors shall become aware of the existence of an Acquiring Person. 
 (jj) “Substitution Period” shall have the meaning set forth in Section 11(a)(iii) hereof. 
 (kk) “Subsidiary” of a Person shall mean any corporation or other entity of which securities or other ownership interests having ordinary voting power sufficient to elect a majority of the board of directors
or other persons performing similar functions are Beneficially Owned, directly or indirectly, by such Person and any corporation or other entity that is otherwise controlled by such Person. 
  

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 (ll) “Summary of Rights” shall have the meaning set forth in Section 3(b)
hereof. 
 (mm) “Trading Day” shall mean a day on which the principal national securities exchange on which the
shares of Common Stock are listed or admitted to trading is open for the transaction of business or, if the shares of Common Stock are not listed or admitted to trading on any national securities exchange , a Business Day. 
 (nn) “Triggering Event” shall mean any event described in Section 11(a)(ii)(A), 11(a)(ii)(B) or 11(a)(ii)(C) or
Section 13 hereof. 
 (oo) “Uncertificated Share Balances” shall have the meaning set forth in
Section 3(a) hereof. 
 (pp) “Voting Power” shall mean the voting power of all securities of the Company then
outstanding and generally entitled to vote for the election of directors of the Company. 
 Any determination required by the definitions
contained in this Section 1 shall be made by the Board of Directors in its good faith judgment, which determination shall be binding on the Rights Agent and the holders of the Rights. 
 2. Appointment of Rights Agent. The Company hereby appoints the Rights Agent to act as rights agent for the Company in accordance with the terms
and conditions hereof, and the Rights Agent hereby accepts such appointment. The Company may from time to time appoint a co-rights agent as it may deem necessary or desirable. In the event the Company appoints one or more
 co-rights agents, the
respective duties of the Rights Agents and any co-rights agents shall be as the Company shall determine. 
 3. Issuance of Right
Certificates. 
 (a) Until the earlier of (i) the 10th day after the Stock Acquisition Date (or, if the Stock
Acquisition Date occurs before the Record Date, the Close of Business on the Record Date) or (ii) the 10th Business Day (or such later date as may be determined by action of the Board of Directors prior to such time as any Person becomes an
Acquiring Person) after the date of the commencement by any Person (other than an Exempt Person) of, or of the first public announcement of the intent of any Person (other than an Exempt Person) to commence (which intention to commence remains in
effect for five business days after such announcement), a tender or exchange offer upon the successful consummation of which such Person, together with its Affiliates and Associates, would be the Beneficial Owner of 15% or more of the outstanding
Common Stock (irrespective of whether any shares are actually purchased pursuant to any such offer) (including any such date which is after the date of this Rights Agreement and prior to the issuance of the Rights; the earlier of such dates being
herein referred to as the “Distribution Date”), (x) the Rights will be evidenced (with a copy of the Summary of Rights attached thereto) by the certificates for the Common Stock registered in the names of the holders of the Common
Stock or, in the case of uncertificated shares, the balances indicated in the book-entry account system of the transfer agent for the Common Stock (the “Uncertificated Share Balances”), and not by separate Right Certificates, and
(y) each Right will be transferable only in connection with the transfer of a share (subject to 

  

 6 

 
adjustment as hereinafter provided) of Common Stock. As soon as practicable after the Distribution Date, the Company will prepare and execute, the Rights
Agent will countersign, and the Company will send or cause to be sent (and the Rights Agent will, if requested and provided with all necessary information, send) by first-class, insured, postage prepaid mail, to each record holder of the Common
Stock as of the Close of Business on the Distribution Date, as shown by the records of the Company, to the address of such holder shown on such records, a Right certificate in substantially the form of Exhibit B hereto (a “Right
Certificate”) evidencing one Right for each share of Common Stock so held. In the event that an adjustment in the number of Rights per share of Common Stock has been made pursuant to Sections 11 or 13 hereof, at the time of distribution of the
Rights Certificates, the Company shall make the necessary and appropriate rounding adjustments (in accordance with Section 14(a) hereof), so that Rights Certificates representing only whole numbers of Rights are distributed and cash is paid in
lieu of any fractional Rights. As of and after the Distribution Date the Rights will be evidenced solely by such Right Certificates. The Company shall promptly notify the Rights Agent in writing upon the occurrence of the Distribution Date and, if
such notification is given orally, the Company shall confirm the same in writing on or prior to the Business Day next following. Until such notice is received by the Rights Agent, the Rights Agent may presume conclusively for all purposes that the
Distribution Date has not occurred. 
 (b) On the Record Date, or as soon as practicable thereafter, the Company will send a
copy of a Summary of Rights to Purchase Preferred Stock, substantially in the form attached hereto as Exhibit C (a “Summary of Rights”), by first-class, postage prepaid mail, to each record holder of Common Stock as of the
Close of Business on the Record Date, at the address of such holder shown on the records of the Company. 
 (c) Rights shall
be issued in respect of all shares of Common Stock that are issued (either as an original issuance or from the Company’s treasury) after the Record Date prior to the earlier of the Distribution Date or the Expiration Date. With respect to
shares of Common Stock, the Rights will be evidenced by the certificates for the Common Stock or, in the case of uncertificated shares, the Uncertificated Share Balances, registered in the names of the holders thereof together with the Summary of
Rights. Until the Distribution Date (or, if earlier, the Expiration Date), the surrender for transfer of any share of Common Stock outstanding on the Record Date (with or without a copy of the Summary of Rights attached thereto), shall also
constitute the surrender for transfer of the Rights associated with the Common Stock represented thereby. 
 (d) Any
certificates issued for Common Stock (including, without limitation, certificates issued upon transfer or exchange of Common Stock) after the Record Date but prior to the earlier of the Distribution Date or the Expiration Date shall have impressed
on, printed on, written on or otherwise affixed to them a legend in substantially the following form: 
 This certificate also evidences and
entitles the holder hereof to certain Rights as set forth in the Rights Agreement between A.D.A.M., Inc. and American Stock Transfer & Trust Company, LLC, as Rights Agent, dated as of June 29, 2009, as the same may be amended or
supplemented from time to time (the “Rights Agreement”), the terms of which hereby are incorporated herein by reference and a copy of which is on file at the principal executive office of A.D.A.M., Inc. Under certain 

  

 7 

 
circumstances, as set forth in the Rights Agreement, such Rights (as such term is defined in the Rights Agreement) will be evidenced by separate certificates
and will no longer be evidenced by this certificate. A.D.A.M., Inc. will mail to the holder of this certificate a copy of the Rights Agreement without charge after receipt by it of a written request therefor. Under certain circumstances as
provided in the Rights Agreement, Rights issued to, Beneficially Owned by or transferred to any Person who is or becomes an Acquiring Person (as such terms are defined in the Rights Agreement) or an Associate or Affiliate (as such terms are defined
in the Rights Agreement) thereof and certain transferees thereof will be null and void and will no longer be transferable. 
 With respect to
such certificates containing the foregoing legend, the Rights associated with the Common Stock represented by such certificates shall, until the Distribution Date, be evidenced by such certificates alone, and registered holders of Common Stock shall
also be the registered holders of the associated Rights, and the surrender for transfer of any such certificate shall also constitute the surrender for transfer of the Rights associated with the Common Stock represented thereby. In the event that
the Company purchases or acquires any shares of Common Stock after the Record Date but prior to the earlier of the Distribution Date, the Redemption Date or the Expiration Date, any Rights associated with such shares of Common Stock shall be deemed
cancelled and retired so that the Company shall not be entitled to exercise any Rights associated with the shares of Common Stock no longer outstanding. 
 Notwithstanding this subsection (d), the omission of a legend shall not affect the enforceability of any part of this Rights Agreement or the rights of any holder of the Rights. 
 4. Form of Right Certificates. 
 (a) The Right Certificates (and the forms of election to purchase shares and of assignment to be printed on the reverse thereof), when, as and if issued, shall be substantially in the form set forth in
Exhibit B hereto and may have such marks of identification or designation and such legends, summaries or endorsements printed thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this Rights
Agreement, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any stock exchange on which the Rights may from time to time be listed, or to conform to usage. Subject to
the provisions of Sections 11, 13 and 22 hereof, the Right Certificates evidencing the Rights issued on the Record Date whenever such certificates are issued, shall be dated as of the Record Date and the Right Certificates evidencing Rights to
holders of record of Common Stock issued after the Record Date shall be dated as of the Record Date but shall also be dated to reflect the date of issuance of such Right Certificate. On their face, Right Certificates shall entitle the holders
thereof to purchase, for each Right, one one-thousandth of a share of Preferred Stock, or other securities or property as provided herein, as the same may from time to time be adjusted as provided herein, at the price per one one-thousandth of a
share of Preferred Stock of $12.00, as the same may from time to time be adjusted as provided herein (the “Purchase Price”). 
  

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 (b) Notwithstanding any other provision of this Rights Agreement, any Right Certificate
that represents Rights that are or were at any time on or after the earlier of the Stock Acquisition Date or the Distribution Date Beneficially Owned by an Acquiring Person or any Affiliate or Associate thereof (or any transferee of such Rights)
shall have impressed on, printed on, written on or otherwise affixed to it (if the Company or the Rights Agent has knowledge that such Person is an Acquiring Person or an Associate or Affiliate thereof or transferee of such Persons or a nominee of
any of the foregoing) a legend in substantially the following form: 
 The Beneficial Owner of the Rights represented by this Right
Certificate is an Acquiring Person or an Affiliate or Associate of an Acquiring Person or a subsequent holder of such Right Certificates Beneficially Owned by such Persons (as such terms are defined in the Rights Agreement). Accordingly, this Right
Certificate and the Rights represented hereby are null and void and will no longer be transferable as provided in the Rights Agreement. 
 The provisions of
Section 11(a)(ii) and Section 24 of this Rights Agreement shall be operative whether or not the foregoing legend is contained on any such Right Certificates. 
 5. Countersignature and Registration. 
 (a) The Right Certificates shall be executed
on behalf of the Company by its Chief Executive Officer, its President or any Vice President, either manually or by facsimile signature, and have affixed thereto the Company’s seal or a facsimile thereof which shall be attested by the Secretary
or an Assistant Secretary of the Company, either manually or by facsimile signature. The Right Certificates shall be countersigned, either manually or by facsimile signature, by the Rights Agent and shall not be valid for any purpose unless so
countersigned. In case any officer of the Company who shall have signed any of the Right Certificates shall cease to be such officer of the Company before countersignature by the Rights Agent and issuance and delivery by the Company, such Right
Certificates, nevertheless, may be countersigned by the Rights Agent and issued and delivered by the Company with the same force and effect as though the person who signed such Right Certificates had not ceased to be such officer of the Company; and
any Right Certificate may be signed on behalf of the Company by any person who, at the actual date of the execution of such Right Certificate, shall be a proper officer of the Company to sign such Right Certificate, although at the date of the
execution of this Rights Agreement any such person was not such an officer. 
 (b) Following the Distribution Date and receipt
by the Rights Agent of notice to that effect and all other relevant information referred to in Section 3(a), the Rights Agent will keep or cause to be kept, at its office designated for such purpose, records for registration and transfer of the
Right Certificates issued hereunder. Such records shall show the names and addresses of the respective holders of the Right Certificates, the number of Rights evidenced on its face by each of the Right Certificates, the date of each of the Right
Certificates and the certificate numbers for each of the Right Certificates. 
 6. Transfer, Split Up, Combination and Exchange of Right
Certificates; Mutilated, Destroyed, Lost or Stolen Right Certificates. 
  

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 (a) Subject to the provisions of Sections 7(e), 11(a)(ii) and 14 hereof, at any time
after the Close of Business on the Distribution Date and at or prior to the Close of Business on the Expiration Date, and following receipt in writing by the Rights Agent of notice to that effect, any Right Certificate or Certificates (other than
Right Certificates representing Rights that have become null and void pursuant to Section 11(a)(ii) hereof or that have been exchanged pursuant to Section 24 hereof) may be (i) transferred or (ii) split up, combined or exchanged
for another Right Certificate or Right Certificates, entitling the registered holder to purchase a like number of shares of Preferred Stock or other securities as the Right Certificate or Right Certificates surrendered then entitled such holder to
purchase. Any registered holder desiring to transfer any Right Certificate shall surrender the Right Certificate at the office of the Rights Agent designated for such purposes with the form of assignment on the reverse side thereof duly endorsed (or
enclose with such Right Certificate a written instrument of transfer in form satisfactory to the Company and the Rights Agent), duly executed by the registered holder thereof or his attorney duly authorized in writing, and with such signature
guaranteed by a member of a securities approved medallion program. Any registered holder desiring to split up, combine or exchange any Right Certificate or Right Certificates shall make such request in writing delivered to the Rights Agent, and
shall surrender the Right Certificate or Right Certificates to be split up, combined or exchanged at the office of the Rights Agent designated for such purpose. The Right Certificates are transferable only on the registry books of the Rights Agent.
Neither the Rights Agent nor the Company shall be obligated to take any action whatsoever with respect to the transfer of any such surrendered Right Certificate or Right Certificates until the registered holder thereof shall have (i) completed
and signed the certificate contained in the form of assignment set forth on the reverse side of each such Right Certificate, (ii) provided such additional evidence of the identity of the Beneficial Owner (or former Beneficial Owner) thereof and
of the Rights evidenced thereby and the Affiliates and Associates of such Beneficial Owner (or former Beneficial Owner) as the Company or the Rights Agent shall reasonably request, and (iii) paid a sum sufficient to cover any tax or charge that
may be imposed in connection with any transfer, split up, combination or exchange of Right Certificates as required by Section 9(d) hereof. Thereupon the Rights Agent shall, subject to Sections 4(b), 7(e), 11 and 14 hereof, manually
countersign and deliver to the Person entitled thereto a Right Certificate or Right Certificates, as the case may be, as so requested, registered in such name or names as may be designated by the surrendering registered holder. The Company may
require payment from the holder of a Right Certificate of a sum sufficient to cover any tax or charge that may be imposed in connection with any transfer, split up, combination or exchange of Right Certificates. The Rights Agent shall have no duty
or obligation to take any action under this Section or any other section of this Rights Agreement which requires the payment by a Rights holder of applicable taxes or charges unless and until the Rights Agent is satisfied that all such taxes and/or
charges have been paid. 
 (b) Subject to the provisions of Section 11(a)(ii) hereof, upon receipt by the Company and the
Rights Agent of evidence reasonably satisfactory to them of the loss, theft, destruction or mutilation of a Right Certificate, and, in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to them, and, if requested by
the Company, reimbursement to the Company and the Rights Agent of all reasonable expenses incidental thereto, and upon surrender to the Rights Agent and cancellation of the Right Certificate if mutilated, the Company will make, execute and deliver a
new Right Certificate of like tenor to the Rights Agent for countersignature and delivery to the registered owner in lieu of the Right Certificate so lost, stolen, destroyed or mutilated. 
  

 10 

 7. Exercise of Rights; Purchase Price; Expiration Date of Rights. 
 (a) Subject to Section 11(a)(ii) hereof, the Rights shall become exercisable, and may be exercised to purchase Preferred Stock,
except as otherwise provided herein, in whole or in part at any time after the Distribution Date upon surrender of the Right Certificate, with the form of election to purchase on the reverse side thereof duly executed (with such signature duly
guaranteed), to the Rights Agent at the office of the Rights Agent designated for such purpose, together with payment of the Purchase Price with respect to each Right exercised, subject to adjustment as hereinafter provided, at or prior to the Close
of Business on the earlier of (i) June 29, 2019 (the “Final Expiration Date”), (ii) the time at which the Rights are redeemed as provided in Section 23 hereof (such date being herein referred to as the “Redemption
Date”) or (iii) the time at which all such Rights are exchanged as provided in Section 24 hereof (the earliest of (i), (ii) and (iii) being herein referred to as the “Expiration Date”). Except for those provisions
herein which expressly survive the termination of this Rights Agreement, this Rights Agreement shall terminate at such time as the Rights are no longer exercisable hereunder. 
 (b) The Purchase Price and the number of shares of Preferred Stock or other securities or consideration to be acquired upon exercise of a
Right shall be subject to adjustment from time to time as provided in Sections 11 and 13 hereof. The Purchase Price shall be payable in lawful money of the United States of America, in accordance with Section 7(c) hereof. 
 (c) Except as provided in Section 11(a)(ii) hereof, upon receipt of a Right Certificate with the form of election to purchase duly
executed, accompanied by payment of the Purchase Price (as such amount may be reduced pursuant to Section 11(a)(iii) hereof) or so much thereof as is necessary for the shares to be purchased and an amount equal to any applicable tax or charge,
by cash, certified check or official bank check payable to the order of the Company or the Rights Agent, the Rights Agent shall, subject to Section 20(k) hereof, thereupon promptly (i) requisition from any transfer agent of the Preferred
Stock (or make available if the Rights Agent is the transfer agent) the number of shares of Preferred Stock so elected to be purchased and the Company will comply and hereby authorizes and directs such transfer agent to comply with all such
requests, (ii) requisition from the Company the amount of cash to be paid in lieu of issuance of fractional shares in accordance with Section 14(b) hereof, and (iii) promptly after receipt of such Preferred Stock cause the same to be
delivered to or upon the order of the registered holder of such Right Certificate, registered in such name or names as may be designated by such holder, and, when appropriate, after receipt of the cash requisitioned from the Company promptly deliver
such cash to or upon the order of the registered holder of such Right Certificate. In the event of a purchase of securities, other than Preferred Stock, pursuant to Section 11(a) or Section 13 hereof, the Company shall promptly provide
written notice to the Rights Agent and the Rights Agent, relying on such notice, shall promptly take the appropriate actions corresponding to the foregoing clauses (i) through (iii). In the event that the Company is obligated to issue other
securities of the Company, pay cash and/or distribute other property pursuant to Section 11(a) hereof, the Company will make all arrangements necessary so that such other securities, cash and/or other property are available for distribution by
the Rights Agent, if and when appropriate. 
  

 11 

 (d) Except as otherwise provided herein, in case the registered holder of any Right
Certificate shall exercise less than all the Rights evidenced thereby, a new Right Certificate evidencing Rights equivalent to the Rights remaining unexercised shall be issued by the Rights Agent to the registered holder of such Right Certificate or
to his duly authorized assigns, subject to the provisions of Sections 6 and 14 hereof. 
 (e) Notwithstanding anything in
this Rights Agreement to the contrary, neither the Rights Agent nor the Company shall be obligated to undertake any action with respect to a registered holder upon the occurrence of any purported exercise as set forth in this Section 7 unless
such registered holder shall have (i) properly completed and signed the certificate contained in the form of election to purchase set forth on the reverse side of the Right Certificate surrendered for such exercise and (ii) provided such
additional evidence of the identity of the Beneficial Owner (or former Beneficial Owner) or Affiliates or Associates thereof as the Company or the Rights Agent shall reasonably request. 
 8. Cancellation and Destruction of Right Certificates. All Right Certificates surrendered for the purpose of exercise. transfer, split up,
combination or exchange shall, if surrendered to the Company or to any of its agents, be delivered to the Rights Agent for cancellation or in cancelled form, or, if surrendered to the Rights Agent, shall be cancelled by it, and no Right Certificates
shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Rights Agreement. The Company shall deliver to the Rights Agent for cancellation and retirement, and the Rights Agent shall so cancel and retire, any
Right Certificate purchased or acquired by the Company otherwise than upon the exercise thereof. The Rights Agent shall deliver all cancelled Right Certificates to the Company, or shall, at the written request of the Company, destroy such cancelled
Right Certificates, and in such case shall deliver a certificate of destruction thereof to the Company. 
 9. Reservation and Availability
of Shares of Preferred Stock. 
 (a) The Company covenants and agrees that at all times it will cause to be reserved and
kept available, out of and to the extent of its authorized and unissued shares of Preferred Stock not reserved for another purpose (and, following the occurrence of a Triggering Event, other securities) or held in its treasury, the number of shares
of Preferred Stock (and, following the occurrence of a Triggering Event, other securities) that, as provided in this Rights Agreement, including Section 11(a)(iii) hereof, will be sufficient to permit the exercise in full of all outstanding
Rights; provided, however, that the Company shall be required to reserve and keep available shares of Preferred Stock or other securities sufficient to permit the exercise in full of all outstanding Rights pursuant to the adjustments
set forth in Section 11(a)(ii), Section 11(a)(iii) or Section 13 hereof only if, and to the extent that, the Rights become exercisable pursuant to such adjustments. 
 (b) The Company shall (i) use its best efforts to cause, from and after such time as the Rights become exercisable, the Rights and
all shares of Preferred Stock (and following the occurrence of a Triggering Event, other securities) issued or reserved for issuance upon exercise thereof to be reported by the NASDAQ Stock Market, LLC (“NASDAQ”), or such other system then
in use, and if the Preferred Stock shall become listed on any national securities exchange, to cause, from and after such time as the Rights become exercisable, the Rights and all shares of Preferred Stock (and, following the occurrence of a
Triggering Event, other securities) issued or reserved for issuance upon exercise thereof to be listed on such exchange upon official notice 

  

 12 

 
of issuance upon such exercise and (ii) if then necessary, to permit the offer and issuance of such shares of Preferred Stock (and, following the
occurrence of a Triggering Event, other securities), register and qualify such share of Preferred Stock (and, following the occurrence of a Triggering Event, other securities) under the Securities Act and any applicable state securities or
“blue sky” laws (to the extent exemptions therefrom are not available), cause such registration statement and qualifications to become effective as soon as possible after such filing and keep such registration and qualifications effective
until the Expiration Date of the Rights. The Company may temporarily suspend, for a period of time not to exceed ninety (90) days, the exercisability of the Rights in order to prepare and file a registration statement under the Securities Act
and permit it to become effective. Upon any such suspension, the Company shall issue a public announcement stating that the exercisability of the Rights has been temporarily suspended, as well as a public announcement at such time as the suspension
is no longer in effect. The Company shall notify the Rights Agent whenever it makes a public announcement pursuant to this Section 9(b) and give the Rights Agent a copy of such announcement. Notwithstanding any provision of this Rights
Agreement to the contrary, the Rights shall not be exercisable in any jurisdiction unless the requisite qualification in such jurisdiction shall have been obtained and until a registration statement under the Securities Act (if required) shall have
been declared effective. 
 (c) The Company covenants and agrees that it will take all such action as may be necessary to
ensure that all shares of Preferred Stock (and following the occurrence of a Triggering Event, other securities) delivered upon exercise of Rights shall, at the time of delivery of such shares (subject to payment of the Purchase Price in respect
thereof), be duly and validly authorized and issued and fully paid and nonassessable shares in accordance with applicable law. 
 (d) The Company further covenants and agrees that it will pay when due and payable any and all taxes and charges which may be payable in respect of the issuance or delivery of the Right Certificates or of any shares of Preferred Stock (or
other securities, as the case may be) upon the exercise of Rights. The Company shall not, however, be required to pay any tax or charge which may be payable in respect of any transfer or delivery of Right Certificates to a Person other than, or the
issuance or delivery of shares of Preferred Stock (or other securities, as the case may be) upon exercise of Rights in a name other than that of, the registered holder of the Right Certificate, and the Company shall not be required to issue or
deliver a Right Certificate or certificate for Preferred Stock (or other securities, as the case may be) to a Person other than such registered holder until any such tax and charge shall have been paid (any such tax or charge being payable by the
holder of such Right Certificate at the time of surrender) or until it has been established to the Company’s satisfaction that no such tax or charge is due. 
 10. Preferred Stock Record Date. Each Person in whose name any shares of Preferred Stock (or other securities, as the case may be) is issued upon the exercise of Rights shall for all purposes be deemed to have
become the holder of record of the shares of Preferred Stock (or other securities, as the case may be) represented thereby on, and such certificate shall be dated, the date upon which the Right Certificate evidencing such Rights was duly surrendered
and payment of the Purchase Price (and any applicable taxes or charges) was made. Prior to the exercise of the Rights evidenced thereby, the holder of a Right Certificate, as such, shall not be entitled to any rights of a stockholder of the Company
with respect to the shares for which the Rights shall be exercisable, including, without limitation, the right to vote, to receive dividends or other distributions or to exercise any preemptive rights, if any, and shall not be entitled to receive
any notice of any proceedings of the Company, except as provided herein. 
  

 13 

 11. Adjustments to Number and Kind of Shares, Number of Rights or Purchase Price. The number and
kind of shares subject to purchase upon the exercise of each Right, the number of Rights outstanding and the Purchase Price are subject to adjustment from time to time as follows: 
 (a) 
 (i) In
the event the Company shall at any time after the date of this Rights Agreement (A) declare or pay any dividend on Preferred Stock payable in shares of Preferred Stock, (B) subdivide or split the outstanding shares of Preferred Stock into
a greater number of shares, (C) combine or consolidate the outstanding shares of Preferred Stock into a smaller number of shares or effect a reverse split of the outstanding shares of Preferred Stock, or (D) issue any shares of its capital
stock in a reclassification of the Preferred Stock (including any such reclassification in connection with a consolidation or merger in which the Company is the continuing or surviving corporation), except as otherwise provided in this
Section 11(a), the Purchase Price in effect at the time of the record date for such dividend or of the effective date of such subdivision, combination or reclassification, and the number and kind of shares of Preferred Stock or capital stock,
as the case may be, issuable on such date, shall be proportionately adjusted so that the holder of any Right exercised after such time shall be entitled to receive, upon payment of the Purchase Price then in effect, the aggregate number and kind of
shares of capital stock or other securities, which, if such Right had been exercised immediately prior to such date, the holder thereof would have owned upon such exercise and been entitled to receive by virtue of such dividend, subdivision,
combination or reclassification. If an event occurs which would require an adjustment under both this Section 11(a)(i) and Section 11(a)(ii) hereof, the adjustment provided for in this Section 11(a)(i) shall be in addition to, and
shall be made prior to, any adjustment required pursuant to Section 11(a)(ii). 
 (ii) Subject to Section 24, in the
event 
 (A) any Acquiring Person or any Associate or Affiliate of any Acquiring Person, at any time after the date of this
Rights Agreement, directly or indirectly, (1) shall consolidate with or merge with and into the Company or any of its Subsidiaries or otherwise combine with the Company or any of its Subsidiaries and the Company or such Subsidiary shall be the
continuing or surviving corporation of such consolidation, merger or combination and the Common Stock of the Company shall remain outstanding and no shares thereof shall be changed into or exchanged for stock or other securities of the Company or of
any other Person or cash or any other property, or (2) shall, in one or more transactions, other than in connection with the exercise of a Right or Rights and other than in connection with the exercise or conversion of securities exercisable
for or convertible into securities of the Company or of any Subsidiary of the Company, transfer any assets or property to the Company or any of its Subsidiaries in exchange (in whole or in part) for any shares of any class of capital stock of the
Company or any of its Subsidiaries or any 

  

 14 

 
securities exercisable for or convertible into shares of any class of capital stock of the Company or any of its Subsidiaries, or otherwise obtain from the
Company or any of its Subsidiaries, with or without consideration, any additional shares of any class of capital stock of the Company or any of its Subsidiaries or any securities exercisable for or convertible into shares of any class of capital
stock of the Company or any of its Subsidiaries (other than as part of a pro rata offer or distribution by the Company or such Subsidiary to all holders of such shares), or (3) shall sell, purchase, lease, exchange, mortgage, pledge, transfer
or otherwise acquire (other than as a pro rata dividend) or dispose of, to, from or with, as the case may be (in one transaction or a series of transactions), the Company or any of its Subsidiaries, any assets (including securities) on terms and
conditions less favorable to the Company or such Subsidiary than the Company or such Subsidiary would be able to obtain in arm’s-length negotiation with an unaffiliated third party, or (4) shall receive any compensation from the Company or
any of its Subsidiaries for services other than compensation for employment as a regular or part-time employee, or fees for serving as a director, at rates in accordance with the Company’s (or its Subsidiary’s) past practices, or
(5) shall receive the benefit, directly or indirectly (except proportionately as a stockholder), of any loans, advances, guarantees, pledges or other financial assistance or any tax credits or tax advantage provided by the Company or any of its
Subsidiaries, or (6) shall engage in any transaction with the Company (or any of its Subsidiaries) involving the sale, license, transfer or grant of any right in, or disclosure of, any patents, copyrights, trade secrets, trademarks, know-how or
any other intellectual or industrial property rights recognized under any country’s intellectual property laws which the Company (including its Subsidiaries) owns or has the right to use on terms and conditions not approved by the Board of
Directors; or 
 (B) any Person, alone or together with its Affiliates and Associates, shall become an Acquiring Person; or

 (C) during such time as there is an Acquiring Person, there shall be any reclassification of securities (including any
reverse stock split), or any recapitalization of the Company, or any merger or consolidation of the Company with any of its Subsidiaries or any other transaction or series of transactions involving the Company or any of its Subsidiaries (whether or
not with or into or otherwise involving an Acquiring Person or any Affiliate or Associate of such Acquiring Person) which has the effect, directly or indirectly, of increasing by more than 1% the proportionate share of the outstanding shares of any
class of equity securities of the Company or any of its Subsidiaries, or securities exercisable for or convertible into equity securities of the Company or any of its Subsidiaries, which is directly or indirectly Beneficially Owned by any Acquiring
Person or any Affiliate or Associate of any Acquiring Person (any of (A), (B) or (C) being referred to herein as a “Flip-In Event”); 
 then upon the first occurrence of such Flip-In Event (i) the Purchase Price shall be adjusted to be the Purchase Price in effect immediately prior to the Flip-In Event multiplied by the number of one one-thousandths of a share of
Preferred Stock for which a Right was exercisable immediately prior to such Flip-In Event, whether or not such Right was then exercisable, and (ii) each holder of a Right, except as otherwise provided in this Section 11(a)(ii) and
Section 11(a)(iii) hereof, shall thereafter have the right to receive, upon exercise thereof at a price equal to the Purchase Price (as so adjusted), in accordance with the terms of this Rights Agreement and in lieu of shares of Preferred
Stock, such number of shares of Common Stock as shall equal the result obtained by dividing the Purchase Price (as so adjusted) by 50% of the Current Market Price per share of the Common Stock (determined pursuant to 

  

 15 

 
Section 11(d) hereof) on the date of such Flip-In Event; provided, however, that the Purchase Price (as so adjusted) and the number of
shares of Common Stock so receivable upon the exercise of a Right shall, following the Flip-In Event, be subject to further adjustment as appropriate in accordance with Section 11(f) hereof. Notwithstanding anything in this Rights Agreement to
the contrary, however, from and after the Flip-In Event, any Rights that are Beneficially Owned by (x) any Acquiring Person (or any Affiliate or Associate of any Acquiring Person), (y) a transferee of any Acquiring Person (or any such
Affiliate or Associate) who becomes a transferee after the Flip-In Event or (z) a transferee of any Acquiring Person (or any such Affiliate or Associate) who became a transferee prior to or concurrently with the Flip-In Event pursuant to either
(I) a transfer from the Acquiring Person to holders of its equity securities or to any Person with whom it has any continuing agreement, arrangement or understanding, whether written or otherwise, regarding the transferred Rights or (II) a
transfer which the Board of Directors has determined is part of a plan, agreement, arrangement or understanding, whether written or otherwise, which has the purpose or effect of avoiding the provisions of this paragraph, and subsequent transferees
of such Persons, shall be null and void without any further action and any holder of such Rights shall thereafter have no rights whatsoever with respect to such Rights under any provision of this Rights Agreement. The Company shall use all
reasonable efforts to ensure that the provisions of this Section 11(a)(ii) are complied with, but shall have no liability to any holder of Right Certificates or other Person as a result of its failure to make any determinations with respect to
an Acquiring Person or its Affiliates, Associates or transferees hereunder. From and after the Flip-In Event, no Right Certificate shall be issued pursuant to Section 3 or Section 6 hereof that represents Rights that are or have become
null and void pursuant to the provisions of this paragraph, and any Right Certificate delivered to the Rights Agent that represents Rights that are or have become null and void pursuant to the provisions of this paragraph shall be cancelled. The
Company shall give the Rights Agent written notice of the identity of any such Acquiring Person, Associate or Affiliate, or the nominee of any of the foregoing, and the Rights Agent may rely on such notice in carrying out its duties under this
Rights Agreement and shall be deemed not to have any knowledge of the identity of any such Acquiring Person, Associate or Affiliate, or the nominee of any of the foregoing unless and until it shall have received such notice. 
 (iii) The Company may at its option substitute for a share of Common Stock issuable upon the exercise of Rights in accordance with the
foregoing subparagraph (ii) such number or fractions of shares of Preferred Stock having an aggregate current market value equal to the Current Market Price of a share of Common Stock. In the event that there shall not be sufficient shares of
Common Stock issued but not outstanding or authorized but unissued to permit the exercise in full of the Rights in accordance with the foregoing subparagraph (ii), the Board of Directors shall, to the extent permitted by applicable law and any
material agreements then in effect to which the Company is a party (A) determine the excess (such excess, the “Spread”) of (1) the value of the shares of Common Stock issuable upon the exercise of a Right in accordance with the
foregoing subparagraph (ii) (the “Current Value”) over (2) the Purchase Price (as adjusted in accordance with the foregoing subparagraph (ii)), and (B) with respect to each Right (other than Rights which have become
null and void pursuant to the foregoing subparagraph (ii)), make adequate provision to substitute for the shares of Common Stock issuable in accordance with the foregoing paragraph (ii) upon exercise of the Right and payment of the
Purchase Price (as adjusted in accordance therewith), (1) cash, (2) a reduction in such Purchase Price, (3) shares of Preferred Stock or other 

  

 16 

 
equity securities of the Company (including, without limitation, shares or fractions of shares of preferred stock which, by virtue of having dividend, voting
and liquidation rights substantially comparable to those of the shares of Common Stock, are deemed in good faith by the Board of Directors to have substantially the same value as the shares of Common Stock (such shares of Preferred Stock and shares
or fractions of shares of preferred stock being hereinafter referred to as “Common Stock Equivalents”), (4) debt securities of the Company, (5) other assets, or (6) any combination of the foregoing, having a value which,
when added to the value of the shares of Common Stock actually issued upon exercise of such Right, shall have an aggregate value equal to the Current Value (less the amount of any reduction in such Purchase Price), where such aggregate value has
been determined by the Board of Directors upon the advice of a nationally recognized investment banking firm selected in good faith by the Board of Directors; provided, however, that if the Company shall not make adequate provision to
deliver value pursuant to clause (B) above within 30 days following the date of the Flip-In Event (the “Flip-in Trigger Date”), then the Company shall be obligated to deliver, to the extent permitted by applicable law and any material
agreements then in effect to which the Company is a party, upon the surrender for exercise of a Right and without requiring payment of such Purchase Price, shares of Common Stock (to the extent available), and then, if necessary, such number or
fractions of shares of Preferred Stock (to the extent available) and then, if necessary, cash, which shares and/or cash have an aggregate value equal to the Spread. If the Board of Directors shall determine in good faith that it is likely that
sufficient additional shares of Common Stock and/or Common Stock Equivalents could be authorized for issuance upon exercise in full of the Rights, the 30-day period set forth above may be extended to the extent necessary, but not more than 90 days
after the Flip-In Trigger Date, in order that the Company may seek stockholder approval for the authorization of such additional shares of Common Stock or Common Stock Equivalents (such 30-day period, as it may be extended being hereinafter referred
to as the “Substitution Period”). To the extent that the Company determines that some action need be taken pursuant to the second and/or third sentence of this Section 11(a)(iii), the Company (x) shall provide, subject to the
last sentence of Section 11(a)(ii) hereof, that such action shall apply uniformly to all outstanding Rights, and (y) may suspend the exercisability of the Rights until the expiration of the Substitution Period in order to seek any
authorization of additional shares and/or to decide the appropriate form of distribution to be made pursuant to the first sentence of Section 11(a)(iii) and to determine the value thereof. In the event of any such suspension, the Company shall
issue a public announcement stating that the exercisability of the Rights has been temporarily suspended, as well as a public announcement at such time as the suspension is no longer in effect. For purposes of this Section 11(a)(iii), the value
of the Common Stock shall be the Current Market Price per share of the Common Stock on the Flip-In Trigger Date and the per share or per unit value of any Common Stock Equivalent shall be deemed to equal the Current Market Price per share of the
Common Stock on such date. The Board of Directors may, but shall not be required to, establish procedures to allocate the right to receive Common Stock upon the exercise of the Rights among holders of Rights pursuant to this

Section 11(a)(iii). 
 (b) In case the Company shall fix a record date for the issuance of rights (other than the
Rights), options or warrants to all holders of Preferred Stock entitling them to subscribe for or purchase Preferred Stock (for a period expiring within 45 calendar days after such record date), shares having the same rights, privileges and
preferences as the Preferred Stock (a “Preferred Stock Equivalent”) or securities convertible into Preferred Stock or Preferred Stock Equivalent at a price per share of Preferred Stock or Preferred Stock Equivalent (or having a conversion
price per share, if a security is convertible into Preferred Stock or 

  

 17 

 
Preferred Stock Equivalent) less than the Current Market Price per share of Preferred Stock on such record date, the Purchase Price to be in effect after
such record date shall be determined by multiplying the Purchase Price in effect immediately prior to such record date by a fraction, the numerator of which shall be the number of shares of Preferred Stock outstanding on such record date, plus the
number of shares of Preferred Stock which the aggregate offering price of the total number of shares of Preferred Stock and/or Preferred Stock Equivalent (and/or the aggregate initial conversion price of the convertible securities so to be offered)
would purchase at such Current Market Price, and the denominator of which shall be the number of shares of Preferred Stock outstanding on such record date, plus the number of additional shares of Preferred Stock and/or Preferred Stock Equivalent to
be offered for subscription or purchase (or into which the convertible securities so to be offered are initially convertible). In case such subscription price may be paid by delivery of consideration part or all of which is in a form other than
cash, the value of such non-cash consideration shall be as determined in good faith by the Board of Directors, whose determination shall be described in a statement filed with the Rights Agent. Shares of Preferred Stock owned by or held for the
account of the Company shall not be deemed outstanding for the purpose of any such computation. Such adjustment shall be made successively whenever such a record date is fixed, and in the event that such rights or warrants are not so issued, the
Purchase Price shall be adjusted to be the Purchase Price which would then be in effect if such record date had not been fixed. 
 (c) In case the Company shall fix a record date for a distribution to all holders of Preferred Stock (including any such distribution made in connection with a consolidation or merger in which the Company is the continuing corporation) of
evidences of indebtedness, cash, assets (other than a dividend payable in Preferred Stock, but including any dividend payable in stock other than Preferred Stock) or subscription rights or warrants (excluding those referred to in Section 11(b)
hereof), the Purchase Price to be in effect after such record date shall be determined by multiplying the Purchase Price in effect immediately prior to such record date by a fraction, the numerator of which shall be the Current Market Price per
share of Preferred Stock on such record date, less the fair market value (as determined in good faith by the Board of Directors, whose determination shall be described in a statement filed with the Rights Agent) of the portion of the cash, assets or
evidences of indebtedness to be distributed or of such subscription rights or warrants applicable to a share of Preferred Stock and the denominator of which shall be such Current Market Price per share of Preferred Stock. Such adjustments shall be
made successively whenever such a record date is fixed, and in the event that such distribution is not so made, the Purchase Price shall be adjusted to be the Purchase Price which would have been in effect if such record date had not been fixed.

 (d) 
 (i) For the purpose of any computation hereunder, other than computations made pursuant to Section 11(a)(iii) hereof, the “Current Market Price” per share of Common Stock on any date shall be deemed to be the average of the
daily closing prices per share of the Common Stock for the 30 consecutive Trading Days immediately prior to, but not including, such date, and for purpose of computations made pursuant to Section 11(a)(iii) hereof, the “Current Market
Price” per share of the Common Stock on any date shall be deemed to be the average of the daily closing prices per share of the Common Stock for the 10 consecutive Trading Days immediately following, but not including, such date;
provided, however, that 

  

 18 

 
in the event that the Current Market Price per share of the Common Stock is determined during a period following the announcement by the issuer of the Common
Stock of (i) any dividend or distribution on the Common Stock (other than a regular quarterly cash dividend and other than the Rights), (ii) any subdivision, combination or reclassification of the Common Stock, and prior to the expiration
of the requisite 30 Trading Day or 10 Trading Day period, as set forth above, after the ex-dividend date for such dividend or distribution, or the record date for such subdivision, combination or reclassification occurs, then, and in each such case,
the Current Market Price shall be properly adjusted to take into account ex-dividend trading. The closing price for each day shall be the last sale price, regular way, or, in case no such sale takes place on such day, the average of the closing bid
and asked prices, regular way, in either case as reported in the principal consolidated transaction reporting system with respect to securities listed or admitted to trading on NASDAQ or, if the shares of Common Stock are not listed or admitted to
trading on NASDAQ, as reported in the principal consolidated transaction reporting system with respect to securities listed on the principal national securities exchange on which the shares of Common Stock are listed or admitted to trading or, if
the shares of Common Stock are not listed or admitted to trading on any national securities exchange, the last quoted sale price or, if not so quoted, the average of the high bid and low asked prices in the over-the-counter market, as reported by
NASDAQ or such other system then in use, or, if on any such date the shares of Common Stock are not quoted by any such organization, the average of the closing bid and asked prices as furnished by a professional market maker making a market in the
Common Stock selected by the Board of Directors. If on any such date no market maker is making a market in the Common Stock, the fair value of such shares on such date as determined in good faith by the Board of Directors shall be used and shall be
binding on the Rights Agent. If the Common Stock is not publicly held or not so listed or traded, “Current Market Price” per share shall mean the fair value per share as determined in good faith by the Board of Directors, whose
determination shall be described in a statement filed with the Rights Agent and shall be conclusive for all purposes. 
 (ii)
For the purpose of any computation hereunder, the “Current Market Price” per share (or one one-thousandth of a share) of Preferred Stock shall be determined in the same manner as set forth above for the Common Stock in clause (i) of
this Section 11(d) (other than the last sentence thereof). If the Current Market Price per share (or one one-thousandth of a share) of Preferred Stock cannot be determined in the manner provided above or if the Preferred Stock is not publicly
held or listed or traded in a manner described in clause (i) of this Section 11(d), the “Current Market Price” per share of Preferred Stock shall be conclusively deemed to be an amount equal to 1,000 (as such number may be
appropriately adjusted for such events as stock splits, stock dividends and recapitalizations with respect to the Common Stock occurring after the date of this Rights Agreement) multiplied by the Current Market Price per share of the Common Stock
and the “Current Market Price” per one one-thousandth of a share of Preferred Stock shall, be equal to the Current Market Price per share of the Common Stock (as appropriately adjusted). If neither the Common Stock nor the Preferred Stock
is publicly held or so listed or traded, “Current Market Price” shall mean the fair value per share as determined in good faith by the Board of Directors, whose determination shall be described in a statement filed with the Rights Agent
and shall be conclusive for all purposes. 
  

 19 

 (e) Anything herein to the contrary notwithstanding, no adjustment in the Purchase Price
shall be required unless such adjustment would require an increase or decrease of at least one percent (1%) in the Purchase Price; provided, however, that any adjustments which by reason of this Section 11(e) are not required to be
made shall be carried forward and taken into account in any subsequent adjustment. All calculations under this Section 11 shall be made to the nearest cent or to the nearest ten-thousandth of a share of Common Stock or other share or
one-hundred-thousandth of a share of Preferred Stock, as the case may be. Notwithstanding the first sentence of this Section 11(e), any adjustment required by this Section 11 shall be made no later than the earlier of (i) three years
from the date of the transaction which mandates such adjustment, or (ii) the Expiration Date. 
 (f) If as a result of an
adjustment made pursuant to Section 11(a)(ii) or Section 13(a) hereof, the holder of any Right thereafter exercised shall become entitled to receive any shares of capital stock other than Preferred Stock, thereafter the number of such
other shares so receivable upon exercise of any Right and the Purchase Price thereof shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the shares of
Preferred Stock contained in Sections 11(a), (b), (c), (e), (g), (h), (i), (j), (k) and (m) hereof, and the provisions of Sections 7, 9, 10, 13 and 14 hereof with respect to the Preferred Stock shall apply on like terms to any
such other shares. 
 (g) All Rights originally issued by the Company subsequent to any adjustment made to the Purchase Price
hereunder shall evidence the right to purchase, at the adjusted Purchase Price, the number of shares of Preferred Stock purchasable from time to time hereunder upon exercise of the Rights, all subject to further adjustment as provided herein.

 (h) Unless the Company shall have exercised its election as provided in Section 11(i), upon each adjustment of the
Purchase Price as a result of the calculations made in Sections 11(b) and (c), each Right outstanding immediately prior to the making of such adjustment shall thereafter evidence the right to purchase, at the adjusted Purchase Price, that
number of one one-thousandths of a share of Preferred Stock (calculated to the nearest one-hundred-thousandth) obtained by (i) multiplying (x) the number of one one-thousandths of a share of Preferred Stock covered by a Right immediately
prior to this adjustment, by (y) the Purchase Price in effect immediately prior to such adjustment of the Purchase Price, and (ii) dividing the product so obtained by the Purchase Price in effect immediately after such adjustment of the
Purchase Price. 
 (i) The Company may elect on or after the date of any adjustment of the Purchase Price or any adjustment to
the number of shares of Preferred Stock for which a Right may be exercised made pursuant to Sections 11(a)(i), 11(b) or 11(c), to adjust the number of Rights in lieu of any adjustment in the number of shares of Preferred Stock purchasable upon
the exercise of a Right. Each of the Rights outstanding after the adjustment in the number of Rights shall be exercisable for the number of shares of Preferred Stock for which a Right was exercisable immediately prior to such adjustment. Each Right
held of record prior to such adjustment of the number of Rights shall become that number of Rights (calculated to the nearest one hundred-thousandth) obtained by dividing the Purchase Price in effect immediately prior to adjustment of the Purchase
Price by the Purchase Price in effect immediately after adjustment of the Purchase Price. The Company shall make a public announcement of its election to adjust the number of Rights, indicating the record date for the adjustment, and, if known at
the time, the amount of the adjustment to be made. The Company shall notify the Rights Agent whenever it makes a public announcement pursuant to this 

  

 20 

 
Section 11(i) and shall promptly give the Rights Agent a written notice of such announcement. This record date may be the date on which the Purchase
Price is adjusted or any day thereafter, but, if the Right Certificates have been issued, shall be at least 10 days later than the date of the public announcement. If Right Certificates have been issued, upon each adjustment of the number of
Rights pursuant to this Section 11(i), the Company shall, as promptly as practicable, cause to be distributed to holders of record of Right Certificates on such record date Right Certificates evidencing, subject to Section 14 hereof, the
additional Rights to which such holders shall be entitled as a result of such adjustment, or, at the option of the Company, shall cause to be distributed to such holders of record in substitution and replacement for the Right Certificates held by
such holders prior to the date of adjustment, and upon surrender thereof, if required by the Company, new Right Certificates evidencing all the Rights to which such holders shall be entitled after such adjustment. Right Certificates so to be
distributed shall be issued, executed and delivered by the Company, and countersigned and delivered by the Rights Agent, in the manner provided for herein (and may bear, at the option of the Company, the adjusted Purchase Price) and shall be
registered in the names of the holders of record of Right Certificates on the record date specified in the public announcement. 
 (j) Irrespective of any adjustment or change in the Purchase Price or the number of shares of Preferred Stock issuable upon the exercise of the Rights, the Right Certificates theretofore and thereafter issued may continue to express the
Purchase Price per share and the number of shares which were expressed in the initial Right Certificate issued hereunder. 
 (k) Before taking any action that would cause an adjustment reducing the Purchase Price below the then par value, if any, of the shares of Common Stock, Preferred Stock or other capital stock issuable upon exercise of the Rights, the
Company shall take any corporate action, including using its best efforts to obtain any required stockholder approvals, which may, in the opinion of its counsel, be necessary in order that the Company may validly and legally issue fully paid and
nonassessable shares of Common Stock, Preferred Stock or other capital stock at such adjusted Purchase Price. If upon any exercise of the Rights, a holder is to receive a combination of Common Stock and Common Stock Equivalents, a portion of the
consideration paid upon such exercise, equal to at least the then par value of a share of Common Stock of the Company, shall be allocated as the payment for each share of Common Stock of the Company so received. 
 (l) In any case in which this Section 11 shall require that an adjustment in the Purchase Price be made effective as of a record date
for a specified event, the Company may elect to defer (with prompt written notice thereof to the Rights Agent) until the occurrence of such event the issuance to the holder of any Right exercised after such record date the shares of Preferred Stock
and other capital stock or securities of the Company, if any, issuable upon such exercise over and above the shares of Preferred Stock and other capital stock or securities of the Company, if any, issuable upon such exercise on the basis of the
Purchase Price in effect prior to such adjustment; provided, however, that the Company shall deliver to such holder a due bill or other appropriate instrument evidencing such holder’s right to receive such additional shares of Preferred
Stock and other capital stock or securities upon the occurrence of the event requiring such adjustment. 
  

 21 

 (m) Anything in this Section 11 to the contrary notwithstanding, the Company shall
be entitled to make such reductions in the Purchase Price, in addition to those adjustments expressly permitted or required by this Section 11, as and to the extent that in their good faith judgment the Board of Directors shall determine to be
advisable in order that any (i) consolidation or subdivision of the Preferred Stock, (ii) issuance for cash of any shares of Preferred Stock at less than the Current Market Price, (iii) issuance for cash of shares of Preferred Stock
or securities which by their terms are convertible into or exchangeable for shares of Preferred Stock, (iv) stock dividends or (v) issuance of rights, options or warrants referred to in this Section 11, hereafter made by the Company
to holders of its Preferred Stock shall not be taxable to such stockholders. 
 (n) The Company covenants and agrees that it
shall not, at any time after the Distribution Date, (i) consolidate with any other Person, (ii) merge with or into any other Person, or (iii) sell or transfer (or permit any Subsidiary to sell or transfer), in one transaction or a
series of related transactions, assets or earning power aggregating more than 50% of the assets or earning power of the Company and its Subsidiaries (taken as a whole) to, any other Person or Persons, if (x) at the time of or immediately after
such consolidation, merger or sale there are any charter or by-law provisions or any rights, warrants or other instruments or securities outstanding or agreements in effect which substantially diminish or otherwise eliminate the benefits intended to
be afforded by the Rights or (y) prior to, simultaneously with or immediately after such consolidation, merger or sale, the stockholders of the Person who constitutes, or would constitute, the “Principal Party” for purposes of
Section 13(a) hereof shall have received a distribution of Rights previously owned by such Person or any of its Affiliates and Associates. The Company shall not consummate any such consolidation, merger or sale unless prior thereto the Company
and such other Person shall have executed and delivered to the Rights Agent a supplemental agreement evidencing compliance with this subsection. 
 (o) The Company covenants and agrees that, after the Distribution Date, it will not, except as permitted by Section 23, Section 24 or Section 27 hereof, take (or permit any Subsidiary to take) any
action if at the time such action is taken it is reasonably foreseeable that such action will diminish substantially or eliminate the benefits intended to be afforded by the Rights. 
 (p) Anything in this Rights Agreement to the contrary notwithstanding, in the event that the Company shall at any time after the Record
Date and prior to the Distribution Date (i) declare or pay any dividend on the outstanding shares of Common Stock payable in shares of Common Stock, (ii) subdivide the outstanding shares of Common Stock, or (iii) combine the
outstanding shares of Common Stock into a smaller number of shares, the number of Rights associated with each share of Common Stock then outstanding, or issued or delivered thereafter, shall be proportionately adjusted so that the number of Rights
thereafter associated with each share of Common Stock following any such event equals the result obtained by multiplying the number of Rights associated with each share of Common Stock immediately prior to such event by a fraction, the numerator or
which shall be the number of shares of Common Stock outstanding immediately prior to the occurrence of such event and the denominator of which shall be the number of shares of Common Stock outstanding immediately following the occurrence of such
event. 
  

 22 

 12. Certification of Adjustments or Number of Shares. Whenever an adjustment is made or any event
affecting the Rights or their exercisability (including, without limitation, an event which causes the Rights to become null and void) occurs as provided in Sections 11 and 13 hereof, the Company shall (a) promptly prepare a certificate
signed by its Chief Executive Officer, its President or any Vice President and by the Treasurer or any Assistant Treasurer or the Secretary or any Assistant Secretary of the Company setting forth such adjustment or describing such event, and a
brief, reasonably detailed statement of the facts, computations and methodology accounting for such adjustment or event, (b) promptly file with the Rights Agent and with each transfer agent for the Preferred Stock and the Common Stock a copy of
such certificate and (c) mail a brief summary thereof to each holder of a Right Certificate (or, if prior to the Distribution Date, to each holder of shares of Common Stock) in accordance with Section 26 hereof. Notwithstanding the
foregoing sentence, the failure of the Company to give such notice shall not affect the validity of or the force or effect of or the requirement for such adjustment. The Rights Agent shall be fully protected in relying on any certificate prepared by
the Company pursuant to Sections 11 and 13 and on any adjustment or statement therein contained and shall not be deemed to have knowledge of any such adjustment or event unless and until it shall have received such certificate. Any adjustment
to be made pursuant to Sections 11 and 13 of this Rights Agreement shall be effective as of the date of the event giving rise to such adjustment. 
 13. Consolidation, Merger or Sale or Transfer of Assets or Earning Power. 
 (a) In the
event that following the first occurrence of a Flip-In Event, directly or indirectly, (x) the Company shall consolidate with, or merge with and into, any other Person or Persons and the Company, as the case may be, shall not be the surviving or
continuing Person of such consolidation or merger, or (y) any Person or Persons shall consolidate with, or merge with and into, the Company, and the Company shall be the continuing or surviving Person of such consolidation or merger and, in
connection with such consolidation or merger, all or part of the outstanding shares of Common Stock shall be changed into or exchanged for stock or other securities of any other Person or of the Company or cash or any other property other than, in
the case of the transactions described in subparagraphs (x) or (y), a merger or consolidation which would result in all of the Voting Power represented by the securities of the Company outstanding immediately prior thereto continuing to
represent (either by remaining outstanding or by being converted into securities of the surviving entity) all of the Voting Power represented by the securities of the Company or such surviving entity outstanding immediately after such merger or
consolidation and the holders of such securities not having changed as a result of such transactions), or (z) the Company or one or more of its Subsidiaries shall sell, mortgage or otherwise transfer to any other Person or any Affiliate or
Associate of such Person, in one transaction, or a series of related transactions, assets or earning power aggregating more than 50% of the assets or earning power of the Company and its Subsidiaries (taken as a whole), then, on the first occurrence
of any such event (a “Flip-Over Event”), proper provision shall be made so that (i) each holder of a Right (other than Rights which have become null and void pursuant to Section 11(a)(ii) hereof) shall thereafter have the right
to receive, upon the exercise thereof at the Purchase Price (as theretofore adjusted in accordance with Section 11(a)(ii) hereof), in accordance with the terms of this Rights Agreement and in lieu of shares of Preferred Stock or Common Stock of
the Company, such number of validly authorized and issued, fully paid, 

  

 23 

 
non-assessable and freely tradeable shares of Common Stock of the Principal Party (as such term is hereinafter defined), not subject to any liens,
encumbrances, rights of first refusal or other adverse claims, as shall equal the result obtained by dividing the Purchase Price (as theretofore adjusted in accordance with Section 11(a)(ii) hereof) by 50% of the Current Market Price per share
of the Common Stock of such Principal Party (determined pursuant to Section 11(d) hereof) on the date of consummation of such consolidation, merger, sale or transfer; provided, however, that the Purchase Price (as theretofore
adjusted in accordance with Section 11(a)(ii) hereof) and the number of shares of Common Stock of such Principal Party so receivable upon exercise of a Right shall be subject to further adjustment as appropriate in accordance with
Section 11(f) hereof to reflect any events occurring in respect of the Common Stock of such Principal Party after the occurrence of such consolidation, merger, sale or transfer; (ii) such Principal Party shall thereafter be liable for, and
shall assume, by virtue of such Flip-Over Event, all the obligations and duties of the Company pursuant to this Rights Agreement; (iii) the term “Company” for all purposes of this Rights Agreement shall thereafter be deemed to refer
to such Principal Party, it being specifically intended that the provisions of Section 11 hereof shall only apply to such Principal Party following the first occurrence of a Flip-Over Event; and (iv) such Principal Party shall take such
steps (including, but not limited to, the reservation of a sufficient number of shares of its Common Stock in accordance with Section 9 hereof) in connection with the consummation of any such transaction as may be necessary to assure that the
provisions hereof shall thereafter be applicable, as nearly as reasonably may be, in relation to its shares of Common Stock thereafter deliverable upon the exercise of the Rights; provided, however, that, upon the subsequent occurrence of any
merger, consolidation, sale of all or substantially all assets, recapitalization, reclassification of shares, reorganization or other extraordinary transaction in respect of such Principal Party, each holder of a Right shall thereupon be entitled to
receive, upon exercise of a Right, such cash, shares, rights, warrants and other property which such holder would have been entitled to receive had he, at the time of such transaction, owned the shares of Common Stock of the Principal Party
purchasable upon the exercise of a Right, and such Principal Party shall take such steps (including, but not limited to, reservation of shares of stock) as may necessary to permit the subsequent exercise of the Rights in accordance with the terms
hereof for such cash, shares, rights, warrants and other property. 
 (b) “Principal Party” shall mean 

(i) in the case of any transaction described in (x) or (y) of the first sentence of Section 13(a) hereof: (A) the
Person that is the issuer of the securities into which shares of Common Stock of the Company are converted in such merger or consolidation, or, if there is more than one such issuer, the issuer the Common Stock of which has the greatest aggregate
market value or (B) if no securities are so issued, (x) the Person that is the other party to the merger or consolidation and that survives said merger or consolidation, or, if there is more than one such Person, the Person the Common
Stock of which has the greatest market value or (y) if the Person that is the other party to the merger or consolidation does not survive the merger or consolidation, the Person that does survive the merger or consolidation (including the
Company if it survives); and 
 (ii) in the case of any transaction described in (z) of the first sentence in
Section 13(a) hereof, the Person that is the party receiving the greatest portion of the assets or earning power transferred pursuant to such transaction or transactions, or, if each Person that is a party to such transaction or transactions
receives the same portion of the assets or earning power so transferred or if the Person receiving the greatest portion of the assets or earning power cannot be determined, whichever of such Persons that is the issuer of Common Stock having the
greatest aggregate market value of shares outstanding; 
  

 24 

 provided, however, that in any such case described in the foregoing paragraphs (b)(i) or (b)(ii), (1) if the
Common Stock of such Person is not at such time and has not been continuously over the preceding 12-month period registered under Section 12 of the Exchange Act, and such Person is a direct or indirect Subsidiary of another Person the Common
Stock of which is and has been so registered, the term “Principal Party” shall refer to such other Person, or (2) if such Person is a Subsidiary, directly or indirectly, of more than one Person, the Common Stocks of all of which are
and have been so registered, the term “Principal Party” shall refer to whichever of such Persons is the issuer of the Common Stock having the greatest market value of shares outstanding, or (3) if such Person is owned, directly or
indirectly, by a joint venture formed by two or more Persons that are not owned, directly or indirectly, by the same Person, the rules set forth in clauses (1) and (2) above shall apply to each of the owners having an interest in the joint
venture as if the Person owned by the joint venture was a Subsidiary of both or all of such joint venturers, and the Principal Party in each such case shall bear the obligations set forth in this Section 13 in the same ratio as its interest in
such Person bears to the total of such interests. 
 (c) The Company shall not consummate any consolidation, merger, sale,
disposition or transfer referred to in Section 13(a) unless the Principal Party shall have a sufficient number of authorized shares of its Common Stock that have not been issued or reserved for issuance to permit the exercise in full of the
Rights in accordance with this Section 13 and unless prior thereto the Company and the Principal Party involved therein shall have executed and delivered to the Rights Agent an agreement confirming that the requirements of Sections 13(a)
and (b) hereof shall promptly be performed in accordance with their terms and that such consolidation, merger, sale, disposition or transfer of assets shall not result in a default by the Principal Party under this Rights Agreement as the same
shall have been assumed by the Principal Party pursuant to Sections 13(a) and (b) hereof and further providing that, as soon as practicable after executing such agreement pursuant to this Section 13, the Principal Party at its own
expense shall: 
 (i) prepare and file a registration statement under the Securities Act, if necessary, with respect to the
Rights and the securities purchasable upon exercise of the Rights on an appropriate form, use its best efforts to cause such registration statement to become effective as soon as practicable after such filing and use its best efforts to cause such
registration statement to remain effective (with a prospectus at all times meeting the requirements of the Securities Act) until the date of expiration of the Rights, and similarly comply with applicable state securities laws; 
 (ii) use its best efforts, if the Common Stock of the Principal Party shall become listed on a national securities exchange, to list (or
continue the listing of) the Rights and the securities purchasable upon exercise of the Rights on such securities exchange and, if the Common Stock of the Principal Party shall not be listed on a national securities exchange, to cause the Rights and
the securities purchased upon exercise of the Rights to be reported by NASDAQ or such other system then in use; 
  

 25 

 (iii) deliver to holders of the Rights historical financial statements for the Principal
Party which comply in all respects with the requirements for registration on Form 10 (or any successor form) under the Exchange Act; and 
 (iv) obtain waivers of any rights of first refusal or preemptive rights in respect of the shares of Common Stock of the Principal Party subject to purchase upon exercise of outstanding Rights. 
 In the event that any of the transactions described in Section 13(a) hereof shall occur at any time after the occurrence of a transaction described in
Section 11(a)(ii) hereof, the Rights which have not theretofore been exercised shall thereafter be exercisable in the manner described in Section 13(a). 
 (d) Furthermore, in case the Principal Party which is to be a party to a transaction referred to in this Section 13 has a provision
in any of its authorized securities or in its Certificate of Incorporation or Bylaws or other instrument governing its corporate affairs, which provision would have the effect of (i) causing such Principal Party to issue, in connection with, or
as a consequence of, the consummation of a transaction referred to in this Section 13, shares of Common Stock of such Principal Party at less than the then Current Market Price per share (determined pursuant to Section 11(d) hereof) or
securities exercisable for, or convertible into, Common Stock of such Principal Party at less than such then current market price (other than to holders of Rights pursuant to this Section 13) or (ii) providing for any special payment, tax
or similar provisions in connection with the issuance of the Common Stock of such Principal Party pursuant to the provisions of Section 13; then, in such event, the Company hereby agrees with each holder of Rights that it shall not consummate
any such transaction unless prior thereto the Company and such Principal Party shall have executed and delivered to the Rights Agent a supplemental agreement providing that the provision in question of such Principal Party shall have been cancelled,
waived or amended, or that the authorized securities shall be redeemed, so that the applicable provision will have no effect in connection with, or as a consequence of, the consummation of the proposed transaction. 
 14. Fractional Rights and Fractional Shares. 
 (a) The Company shall not be required to issue fractions of Rights or to distribute Right Certificates which evidence fractional Rights. In lieu of such fractional Rights, there shall be paid to the holders of record
of the Right Certificates with regard to which such fractional Rights would otherwise be issuable, an amount in cash equal to the same fraction of the then current market value of a whole Right. For the purposes of this Section 14(a), the then
current market value of a Right shall be determined in the same manner as the Current Market Price of a share of Common Stock shall be determined pursuant to Section 11(d) hereof. 
 (b) The Company shall not be required to issue fractions of shares of Preferred Stock or Preferred Stock Equivalent (other than fractions
which are integral multiples of one one-thousandth of a share of Preferred Stock) upon exercise of the Rights or to distribute fractional shares of Preferred Stock Equivalent (other than fractions which are integral multiples of one one-thousandth
of a share of Preferred Stock). Fractions of shares of Preferred Stock in integral multiples of one one-thousandth of a share of Preferred Stock or Preferred Stock Equivalent may, at the election of the Company, be evidenced by depositary 

  

 26 

 
receipts, pursuant to an appropriate agreement between the Company and a depositary selected by it, provided that such agreement shall provide that the
holders of such depositary receipts shall have all the rights, privileges and preferences to which they are entitled as Beneficial Owners of the shares of Preferred Stock or Preferred Stock Equivalent represented by such depositary receipts. In lieu
of fractional shares of Preferred Stock that are not integral multiples of one one-thousandth of a share of Preferred Stock or Preferred Stock Equivalent, the Company may pay to the registered holders of Right Certificates at the time such Rights
are exercised as herein provided an amount in cash equal to the same fraction of the current market value of one one-thousandth of a share of Preferred Stock or Preferred Stock Equivalent. For purposes of this Section 14(b), the current market
value of one one-thousandth of a share of Preferred Stock or Preferred Stock Equivalent shall be the Current Market Price of a share of Common Stock (as determined pursuant to Section 11(d)(ii) hereof) for the Trading Day immediately prior to
the date of such exercise. 
 (c) Following the occurrence of a Flip-In Event, the Company shall not be required to issue
fractions of shares or units of Common Stock or Common Stock Equivalents or other securities upon exercise of the Rights or to distribute fractional shares of such Common Stock or Common Stock Equivalents or other securities. In lieu of fractional
shares or units of such Common Stock or Common Stock Equivalents or other securities, the Company may pay to the registered holders of Right Certificates at the time such Rights are exercised as herein provided an amount in cash equal to the same
fraction of the Current Market Value of a share or unit of such Common Stock or Common Stock Equivalent or other securities. For purposes of this Section 14(c), the Current Market Value shall be determined in the manner set forth in
Section 11(d) hereof for the Trading Day immediately prior to the date of such exercise and, if such Common Stock Equivalent is not traded, each such Common Stock Equivalent shall have the value of one one-thousandth of a share of Preferred
Stock. 
 (d) The holder of a Right by the acceptance of a Right expressly waives his right to receive any fractional Right or
any fractional shares upon exercise of a Right. 
 (e) Whenever a payment for fractional Rights or fractional shares or other
securities of the Company is to be made by the Rights Agent, the Company shall (i) promptly prepare and deliver to the Rights Agent a certificate setting forth in reasonable detail the facts related to such payment and the prices and/or
formulas utilized in calculating such payments, and (ii) provide sufficient monies to the Rights Agent in the form of fully collected funds to make such payments. 
 15. Rights of Action. As of the Record Date, all rights of action in respect of this Right Agreement, other than any rights of action vested in the Rights Agent pursuant to Sections 18 and 20 hereunder,
are vested in the respective holders of record of the Right Certificates (and, prior to the Distribution Date, the holders of record of the Common Stock); and any holder of record of any Right Certificate (or, prior to the Distribution Date, of the
Common Stock), without the consent of the Rights Agent or of the holder of any other Right Certificate (or, prior to the Distribution Date, of the Common Stock), may, in his own behalf and for his own benefit, enforce, and may institute and maintain
any suit, action or proceeding against the Company or any other Person to enforce, or otherwise act in respect of, his right to exercise the Rights evidenced by such Right Certificate in the manner provided in such Right 

  

 27 

 
Certificate and in this Rights Agreement. Without limiting the foregoing or any remedies available to the holders of Rights, it is specifically acknowledged
that the holders of Rights would not have an adequate remedy at law for any breach of this Rights Agreement and, accordingly, that they will be entitled to specific performance of the obligations under, and injunctive relief against actual or
threatened violations of, the obligations of any Person subject to this Rights Agreement. Holders of Rights shall be entitled to recover the reasonable costs and expenses, including attorneys’ fees, incurred by them in any action to enforce the
provisions of this Rights Agreement. 
 16. Agreement of Right Holders. Every holder of a Right by accepting the same consents and
agrees with the Company and the Rights Agent and with every other holder of a Right that: 
 (a) prior to the Distribution
Date, the Rights will not be evidenced by a Right Certificate and will be transferable only in connection with the transfer of Common Stock; 
 (b) after the Distribution Date, the Right Certificates will be transferable only on the registry books of the Rights Agent if surrendered at the office of the Rights Agent designated for such purpose, duly endorsed
or accompanied by a proper instrument of transfer with all required certificates completed; 
 (c) the Company and the Rights
Agent may deem and treat the Person in whose name the Right Certificate (or, prior to the Distribution Date, the associated shares of Common Stock) is registered as the absolute owner thereof and of the Rights evidenced thereby (notwithstanding any
notations of ownership or writing on the Right Certificate or the associated shares of Common Stock made by anyone other than the Company or the Rights Agent or the transfer agent of the Common Stock) for all purposes whatsoever, and neither the
Company nor the Rights Agent shall be affected by any notice to the contrary; and 
 (d) notwithstanding anything in this
Rights Agreement to the contrary, neither the Company nor the Rights Agent shall have any liability to any holder of a Right or other Person as a result of its inability to perform any of its obligations under this Rights Agreement by reason of any
preliminary or permanent injunction or other order, judgment, decree or ruling (whether interlocutory or final) issued by a court or by a governmental, regulatory, self-regulatory or administrative agency or commission, or any statute, rule,
regulation or executive order promulgated or enacted by any governmental authority, prohibiting or otherwise restraining performance of such obligation; provided, however, that the Company must use its best efforts to have any such
injunction, order, judgment, decree or ruling lifted or otherwise overturned as soon as possible. 
 17. Right Certificate Holder Not
Deemed a Stockholder. No holder of a Right, as such, shall be entitled to vote, receive dividends in respect of or be deemed for any purpose to be the holder of Common Stock or any other securities of the Company which may at any time be
issuable upon the exercise of the Rights, nor shall anything contained herein or in any Right Certificate be construed to confer upon the holder of any Right Certificate, as such, any of the rights of a stockholder of the Company or any right to
vote in the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold 

  

 28 

 
consent to any corporate action, or to receive notice of meetings or other actions affecting stockholders (except as provided in Section 25 hereof), or
to receive dividends or subscription rights in respect of any such stock or securities, or otherwise, until the Right or Rights evidenced by such Right Certificate shall have been exercised in accordance with the provisions hereof. 
 18. Concerning the Rights Agent. 
 (a) The Company agrees to pay to the Rights Agent reasonable compensation for all services rendered by it hereunder and, from time to time, on demand of the Rights Agent, its reasonable expenses and counsel fees and
other disbursements incurred in the preparation, negotiation, delivery, administration, amendment and execution of this Rights Agreement and the exercise and performance of its duties hereunder. The Company also agrees to indemnify the Rights Agent
for, and to hold it harmless against, any loss, liability or expense incurred without gross negligence, bad faith or willful misconduct on the part of the Rights Agent for any thing done or omitted to be done by the Rights Agent in connection with
the acceptance and administration of this Rights Agreement, including the cost and expenses of defending against any claim of liability in the premises. The indemnity provided herein shall survive the expiration of the Rights and the termination of
this Rights Agreement. Notwithstanding anything in this Rights Agreement to the contrary, in no event shall the Rights Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost
profits), even if the Rights Agent has been advised of the likelihood of such loss damage and regardless of the form of action. 
 (b) The Rights Agent shall be protected and shall incur no liability for or in respect of any action taken, suffered or omitted by it in connection with its administration of this Rights Agreement in reliance upon any Right Certificate,
certificate for Common Stock (or book-entry with respect to any Uncertificated Share Balance) or other securities of the Company, instrument of assignment or transfer, power of attorney, endorsement, affidavit, letter, notice, direction, consent,
certificate, statement or other paper or document believed by it to be genuine and to be signed, executed and, where necessary, guaranteed, verified or acknowledged, by the proper Person or Persons. 
 19. Merger or Consolidation or Changed Name of Rights Agent. 
 (a) Any Person into which the Rights Agent or any successor Rights Agent may be merged or with which it may be consolidated, or any Person
resulting from any merger or consolidation to which the Rights Agent or any successor Rights Agent shall be a party, or any Person succeeding to the shareholder services business of the Rights Agent or any successor Rights Agent, shall be the
successor to the Rights Agent under this Rights Agreement without the execution or filing of any paper or any further act on the part of any of the parties hereto, provided that such Person would be eligible for appointment as a successor Rights
Agent under the provisions of Section 21 hereof. In case at the time such successor Rights Agent shall succeed to the agency created by this Rights Agreement, any of the Right Certificates shall have been countersigned but not delivered, any
such successor Rights Agent may adopt the countersignature of the predecessor Rights Agent and deliver such Right Certificates so countersigned; and, in case at that time any of the Right Certificates shall not have been countersigned, any successor
Rights Agent may countersign such Right Certificates either in the name of the predecessor Rights Agent or in the name of the successor Rights Agent; and in all such cases such Right Certificates shall have the full force provided in the Right
Certificates and in this Rights Agreement. 
  

 29 

 (b) In case at any time the name of the Rights Agent shall be changed and at such time
any of the Right Certificates shall have been countersigned but not delivered, the Rights Agent may adopt the countersignature under its prior name and deliver such Right Certificates so countersigned; and in case at that time any of the Right
Certificates shall not have been countersigned, the Rights Agent may countersign such Right Certificates either in its prior name or in its changed name; and in all such cases such Right Certificate shall have the full force provided in the Right
Certificates and in this Rights Agreement. 
 20. Duties of Rights Agent. The Rights Agent undertakes the duties and obligations
imposed by this Rights Agreement upon the following terms and conditions, by all of which the Company and the holders of Right Certificates, by their acceptance thereof, shall be bound: 
 (a) The Rights Agent may consult with legal counsel (who may be legal counsel for the Company), and the opinion of such counsel shall be
full and complete authorization and protection to the Rights Agent as to any action taken or omitted to be taken by it in good faith and in accordance with such opinion. 
 (b) Whenever in the performance of its duties under this Rights Agreement the Rights Agent shall deem it necessary or desirable that any
fact or matter (including, without limitation, the identity of any Acquiring Person and the determination of Current Market Price) be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless
other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by certificate signed by the President or any Vice President and by the Treasurer or any Assistant Treasurer or the
Secretary or any Assistant Secretary of the Company and delivered to the Rights Agent; and such certificate shall be full authorization to the Rights Agent for any action taken or suffered in good faith by it under the provisions of this Rights
Agreement in reliance upon such certificate. 
 (c) The Rights Agent shall be liable hereunder only for its own gross
negligence, bad faith or willful misconduct. 
 (d) The Rights Agent shall not be liable for or by reason of any of the
statements of fact or recitals contained in this Rights Agreement or in the Right Certificates (except its countersignature thereof) or be required to verify the same, but all such statements and recitals are and shall be deemed to have been made by
the Company only. 
 (e) The Rights Agent shall not be under any responsibility in respect of the validity of this Rights
Agreement or the execution and delivery hereof (except the due execution hereof by the Rights Agent) or in respect of the validity or execution of any Right Certificate (except its countersignature thereof); nor shall it be responsible for any
breach by the Company of any covenant or condition contained in this Rights Agreement or in any Right Certificate; nor shall it be responsible for any adjustment required under the provisions of Sections 11, 13, 23 or 24 hereof or responsible
for the manner, method or amount 

  

 30 

 
of any such adjustment or the ascertaining of the existence of facts that would require any such adjustment (except with respect to the exercise of Rights
evidenced by Right Certificates after receipt of a Certificate furnished pursuant to Section 12 describing any such adjustment); nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or
reservation of any shares of Common Stock to be issued pursuant to this Rights Agreement or any Right Certificate or as to whether any shares of Common Stock will, when issued, be validly authorized and issued, fully paid and nonassessable.

 (f) The Company agrees that it will perform, execute, acknowledge and deliver or cause to be performed, executed,
acknowledged and delivered all such further and other acts, instruments and assurances as may reasonably be required by the Rights Agent for the carrying out or performing by the Rights Agent of the provisions of this Rights Agreement. 

(g) The Rights Agent is hereby authorized and directed to accept instructions with respect to the performance of its duties hereunder
from the Chairman of the Board, the Chief Executive Officer, the President or any Vice President or the Secretary or any Assistant Secretary or the Treasurer or any Assistant Treasurer of the Company, and to apply to such officers for advice or
instructions in connection with its duties, and it shall not be liable for any action taken or suffered to be taken by it in good faith in accordance with instructions of any such officer. Any application by the Rights Agent for written instructions
from the Company may, at the option of the Rights Agent, set forth in writing any action proposed to be taken or omitted by the Rights Agent under this Rights Agreement and the date on and/or after which such action shall be taken or such omission
shall be effective. Subject to Section 20(c) hereof, the Rights Agent shall not be liable for any action taken by, or omission of, the Rights Agent in accordance with a proposal included in any such application on or after the date specified in
such application (which date shall not be less than five Business Days after the date any officer of the Company actually receives such application, unless any such officer shall have consented in writing to an earlier date) unless, prior to taking
any such action (or the effective date in the case of an omission), the Rights Agent shall have received written instructions in response to such application specifying the action to be taken or omitted. 
 (h) The Rights Agent and any stockholder, director, officer or employee of the Rights Agent may buy, sell or deal in any of the Rights or
other securities of the Company or become pecuniarily interested in any transaction in which the Company may be interested, or contract with or lend money to the Company or otherwise act as fully and freely as though it were not the Rights Agent
under this Rights Agreement. Nothing herein shall preclude the Rights Agent from acting in any other capacity for the Company or for any other Person. 
 (i) The Rights Agent may execute and exercise any of the rights or powers hereby vested in it or perform any duty hereunder either itself or by or through its attorneys or agents, and the Rights Agent shall not be
answerable or accountable for any act, default, neglect or misconduct of any such attorneys or agents or for any loss to the Company resulting from any such act, default, neglect or misconduct, provided reasonable care was exercised in the selection
and continued employment thereof. 
  

 31 

 (j) No provision of this Rights Agreement shall require the Rights Agent to expend or
risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder or in the exercise of its rights if there shall be reasonable grounds for believing that repayment of such funds or adequate
indemnification against such risk or liability is not reasonably assured to it. 
 (k) If, with respect to any Right
Certificate surrendered to the Rights Agent for exercise or transfer, the certificate contained in the form of assignment or the form of election to purchase set forth on the reverse thereof, as the case may be, has either not been completed or
indicates an affirmative response to clause 1 and/or 2 thereof, the Rights Agent shall not take any further action with respect to such requested exercise of transfer without first consulting with the Company. 
 21. Change of Rights Agent. The Rights Agent or any successor Rights Agent may resign and be discharged from its duties under this Rights
Agreement upon 30 days’ notice in writing, or such earlier period as shall be agreed to in writing, mailed to the Company and to each transfer agent of the Common Stock by registered or certified mail, and to the holders of the Right
Certificates by first-class mail. The Company may remove the Rights Agent or any successor Rights Agent (with or without cause) upon 30 days’ notice in writing, or such earlier period as shall be agreed to in writing, mailed to the Rights
Agent or successor Rights Agent, as the case may be, and to each transfer agent of the Common Stock by registered or certified mail, and to the holders of the Right Certificates by first-class mail. If the Rights Agent shall resign or be removed or
shall otherwise become incapable of acting, the Company shall appoint a successor to the Rights Agent. Notwithstanding the foregoing provisions of this Section 21, in no event shall the resignation or removal of a Rights Agent be effective
until a successor Rights Agent shall have been appointed and have accepted such appointment. If the Company shall fail to make such appointment within a period of 30 days after giving notice of such removal or after it has been notified in
writing of such resignation or incapacity by the resigning or incapacitated Rights Agent or by the holder of a Right Certificate (who shall, with such notice, submit his Right Certificate for inspection by the Company), then the incumbent Rights
Agent or the holder of record of any Right Certificate may apply to any court of competent jurisdiction for the appointment of a new Rights Agent. Any successor Rights Agent, whether appointed by the Company or by such a court, shall be (a) a
Person organized and doing business under the laws of the United States or any State thereof, in good standing, which is authorized under such laws to exercise corporate trust or stock transfer powers and is subject to supervision or examination by
federal or state authority and which has at the time of its appointment as Rights Agent a combined capital and surplus of at least $50,000,000 or (b) an Affiliate controlled by a Person described in clause (a) of this sentence. After
appointment, the successor Rights Agent shall be vested with the same powers, rights, duties and responsibilities as if it had been originally named as Rights Agent without further act or deed; but the predecessor Rights Agent shall deliver and
transfer to the successor Rights Agent any property at the time held by it hereunder, and execute and deliver any further assurance, conveyance, act or deed necessary for the purpose. Not later than the effective date of any such appointment the
Company shall file notice thereof in writing with the predecessor Rights Agent and each transfer agent of the Common Stock, and mail a notice thereof in writing to the registered holders of the Right Certificates. Failure to give any notice provided
for in this Section 21, however, or any defect therein, shall not affect the legality or validity of the resignation, replacement or removal of the Rights Agent or the appointment of the successor Rights Agent, as the case may be. 

 

 32 

 22. Issuance of New Right Certificates. Notwithstanding any of the provisions of this Rights
Agreement or of the Rights to the contrary, the Company may, at its option, issue new Right Certificates evidencing Rights in such form as may be approved by its Board of Directors to reflect any adjustment or change in the Purchase Price per share
and the number or kind or class of shares of stock or other securities or property purchasable under the Right Certificates made in accordance with the provisions of this Rights Agreement. In addition, in connection with the issuance or sale of
shares of Common Stock following the Distribution Date and prior to the redemption or expiration of the Rights, the Company shall, with respect to shares of Common Stock so issued or sold pursuant to the exercise of stock options or under any
employee plan or arrangement, or upon the exercise, conversion or exchange of securities hereinafter issued by the Company, in each case existing prior to the Distribution Date, issue Right Certificates representing the appropriate number of Rights
in connection with such issuance or sale; provided, however, that (i) no such Right Certificate shall be issued if, and to the extent that, the Company shall be advised by counsel that such issuance would create a significant risk
of material adverse tax consequences to the Company or the Person to whom such Right Certificate would be issued, and (ii) no such Right Certificate shall be issued, if, and to the extent that, appropriate adjustment shall otherwise have been
made in lieu of the issuance thereof. 
 23. Redemption. 
 (a) The Board of Directors may, at its option, at any time prior to the earlier of (x) the first occurrence of a Flip-In Event or
(y) the Close of Business on the Expiration Date, redeem all but not less than all the then outstanding Rights at a redemption price of $0.01 per Right, as such amount may be appropriately adjusted to reflect any stock split, stock dividend or
similar transaction occurring after the date hereof (such redemption price being hereinafter referred to as the “Redemption Price”). 
 (b) Immediately upon the action of the Board of Directors ordering the redemption of the Rights (or at such later time as the Board of Directors may establish for the effectiveness of such redemption), and without any
further action and without any notice, the right to exercise the Rights will terminate and the only right thereafter of the holders of Rights shall be to receive the Redemption Price. The Company shall promptly give public notice of any such
redemption (with prompt written notice thereof to the Rights Agent); provided, however, that the failure to give, or any defect in, any such notice shall not affect the legality or validity of such redemption. Within 10 days after such
action of the Board of Directors ordering the redemption of the Rights (or such later time as the Board of Directors may establish for the effectiveness of such redemption), the Company shall mail a notice of redemption to all the holders of the
then outstanding Rights at their last addresses as they appear upon the registry books of the Rights Agent or, prior to the Distribution Date, on the registry books of the transfer agent for the Common Stock. Any notice which is mailed in the manner
herein provided shall be deemed given, whether or not the holder receives the notice. Each such notice of redemption shall state the method by which the payment of the Redemption Price will be made. The failure to give notice required by this
Section 23(b) or any defect therein shall not affect the legality or validity of the action taken by the Company. 
  

 33 

 (c) In the case of a redemption permitted under Section 23(a) hereof, the Company
may, at its option, discharge all of its obligations with respect to the Rights by (i) issuing a press release announcing the manner of redemption of the Rights and (ii) mailing payment of the Redemption Price to the registered holders of
the Rights at their last addresses as they appear on the registry books of the Rights Agent or, prior to the Distribution Date, on the registry books of the transfer agent of the Common Stock, and upon such action, all outstanding Right Certificates
shall be null and void without any further action by the Company. 
 24. Exchange of Rights for Common Stock. 
 (a) The Board of Directors may, at its option, at any time after the occurrence of a Flip-In Event, exchange all or part of the then
outstanding and exercisable Rights (which (i) shall not include Rights that have become null and void pursuant to the provisions of Section 11(a)(ii) and (ii) shall include, without limitation, any Rights issued after the Distribution
Date in accordance with Section 22 hereof) for shares of Common Stock at an exchange ratio of one share of Common Stock per Right, appropriately adjusted to reflect any stock split, stock dividend or similar transaction occurring after the date
hereof (the “Exchange Ratio”). Notwithstanding the foregoing the Board of Directors shall not be empowered to effect such exchange at any time after any Person (other than an Exempt Person), together with all Affiliates and Associates of
such Person, becomes the Beneficial Owner of shares of Common Stock aggregating 50% or more of the shares of Common Stock then outstanding. From and after the occurrence of an event specified in Section 13(a) hereof, any Rights that theretofore
have not been exchanged pursuant to this Section 24(a) shall thereafter be exercisable only in accordance with Section 13 and may not be exchanged pursuant to this Section 24(a). 
 (b) Immediately upon the action of the Board of Directors ordering the exchange of any Rights pursuant to subsection (a) of this
Section 24 and without any further action and without any notice, the right to exercise such Rights shall terminate and the only right thereafter of a holder of such Rights shall be to receive that number of shares of Common Stock equal to the
number of such Rights held by such holder multiplied by the Exchange Ratio. The Company shall promptly give public notice of any such exchange (with prompt written notice of such exchange to the Rights Agent); provided, however, that
the failure to give, or any defect in, such notice shall not affect the legality or validity of such exchange. The Company promptly shall mail a notice of any such exchange to all of the holders of such Rights at their last addresses as they appear
upon the registry books of the Rights Agent. Any notice which is mailed in the manner herein provided shall be deemed given, whether or not the holder receives the notice. Each such notice of exchange will state the method by which the exchange of
the shares of Common Stock for Rights will be effected and, in the event of any partial exchange, the number of Rights which will be exchanged. Any partial exchange shall be effected pro rata based on the number of Rights (other than Rights which
have become null and void pursuant to the provisions of Section 11(a)(ii) hereof) held by each holder of Rights. 
 (c)
In any exchange pursuant to this Section 24, the Company, at its option, may substitute, and, in the event that there shall not be sufficient shares of Common Stock issued but not outstanding or authorized but unissued to permit any exchange of
Rights as contemplated in accordance with this Section 24, the Company shall substitute to the extent of such insufficiency, for each share of Common Stock that would otherwise be issuable upon exchange of a Right, a number of shares of
Preferred Stock or Preferred Stock Equivalent or fractions thereof having an aggregate current per share market price (determined pursuant to Section 11(d) hereof) equal to the current per share market price of one share of Common Stock
(determined pursuant to Section 11(d) hereof) as of the date of the Flip-In Event. 
  

 34 

 (d) In the event that there shall not be sufficient shares of Common Stock issued but not
outstanding or authorized but unissued to permit any exchange of Rights as contemplated in accordance with this Section 24, the Company shall take all such action as may be necessary to authorize additional shares of Common Stock for issuance
upon exchange of the Rights. 
 (e) The Company shall not be required to issue fractions of shares of Common Stock or to
distribute certificates which evidence fractional shares of Common Stock. In lieu of such fractional shares of Common Stock, the Company shall pay to the registered holders of the Right Certificates with regard to which such fractional shares of
Common Stock would otherwise be issuable an amount in cash equal to the same fraction of the current market value of a whole share of Common Stock. For the purposes of this paragraph (d), the current market value of a whole share of Common
Stock shall be the Current Market Price of a share of Common Stock (as defined in Section 11(d) hereof for the purposes of computations made other than pursuant to Section 11(a)(iii)) for the Trading Day immediately prior to the date of
exchange pursuant to this Section 24. 
 25. Notice of Proposed Actions. 
 (a) In case the Company, after the Distribution Date, shall propose (i) to effect any of the transactions referred to in
Section 11(a)(i) or to pay any dividend to the holders of record of its Preferred Stock payable in stock of any class or to make any other distribution to the holders of record of its Preferred Stock (other than a regular periodic cash
dividend), or (ii) to offer to the holders of record of its Preferred Stock or options, warrants, or other rights to subscribe for or to purchase shares of Preferred Stock (including any security convertible into or exchangeable for Preferred
Stock) or shares of stock of any other class or any other securities, options, warrants, convertible or exchangeable securities or other rights, or (iii) to effect any reclassification of its Preferred Stock or any recapitalization or
reorganization of the Company, or (iv) to effect any consolidation or merger with or into, or to effect any sale or other transfer (or to permit one or more of its Subsidiaries to effect any sale or other transfer), in one or more transactions,
of more than 50% of the assets or earning power of the Company and its Subsidiaries (taken as a whole) to, any other Person or Persons, or (v) to effect the liquidation, dissolution or winding up of the Company, then, in each such case, the
Company shall give to the Rights Agent and to each holder of record of a Right Certificate, in accordance with Section 26 hereof, notice of such proposed action, which shall specify the record date for the purposes of such transaction referred
to in Section 11(a)(i), or such dividend or distribution, or the date on which such reclassification, recapitalization, reorganization, consolidation, merger, sale or transfer of assets, disposition, liquidation, dissolution or winding up is to
take place and the record date for determining participation therein by the holders of record of Preferred Stock, if any such date is to be fixed, and such notice shall be so given in the case of any action covered by clause (i) or
(ii) above at least 10 days prior to the record date for determining holders of record of the Preferred Stock for purposes of such action, and in the case of any such other action, at least 10 days prior to the date of the taking of
such proposed action or the date of participation therein by the holders of record of Preferred Stock, whichever shall be the earlier. 
  

 35 

 (b) In case any of the transactions referred to in Section 11(a)(ii)(A) or
(C) or Section 13 of this Rights Agreement are proposed, then, in any such case, the Company shall as soon as practicable thereafter give to the Rights Agent and to each holder of Rights, in accordance with Section 26 hereof, notice
of the proposal of such transaction at least 10 days prior to consummating such transaction, which notice shall specify the proposed event and the consequences of the event to holders of Rights under Section 11(a)(ii)(A) or (C) or
Section 13 hereof, as the case may be, and, upon consummation of such transaction or any transaction contemplated by Section 11(a)(ii)(B), shall similarly give notice thereof to each holder of Rights. 
 (c) The failure to give notice required by this Section 25 or any defect therein shall not affect the legality or validity of the
action taken by the Company or the vote upon any such action. 
 26. Notices. Notices or demands authorized by this Rights Agreement
to be given or made by the Rights Agent or by the holder of record of any Right Certificate or Right to or on behalf of the Company shall be sufficiently given or made if in writing and sent by first-class mail, postage prepaid, addressed (until
another address is filed in writing with the Rights Agent) as follows: 
 A.D.A.M., Inc. 
 10 10th Street NE, Suite 500 
 Atlanta,
Georgia 30309 
 Attention: President 
 With a copy to: 
 DLA Piper LLP (US) 
 1201 West Peachtree Street, Suite 2800 
 Atlanta, GA 30309 
 Attn: Michael Rubinger, Esq. 
 Subject to the provisions of
Section 21 hereof, any notice or demand authorized by this Rights Agreement to be given or made by the Company or by the holder of record of any Right Certificate or Right to or on the Rights Agent shall be sufficiently given or made if sent by
first-class mail, postage prepaid, addressed (until another address is filed in writing with the Company) as follows: 
 American Stock
Transfer & Trust Company, LLC 
 6201 15th Avenue 
 Brooklyn, NY 11219 
 Attention: Corporate Trust Department 
 Notices or demands authorized by this Rights Agreement to be given or made by the Company or the Rights Agent to the holder of record of any Right Certificate or Right
shall be sufficiently given or made if sent by first-class mail, postage prepaid, addressed to such holder at the address of such holder as it appears upon the registry books of the Rights Agent or, prior to the Distribution Date, on the registry
books of the Transfer Agent. 
  

 36 

 27. Supplements and Amendments. Except as otherwise provided herein, for so long as the Rights are
then redeemable, the Company may in its sole and absolute discretion supplement or amend any provision of this Rights Agreement in any respect without the approval of any holders of the Rights, any such supplement or amendment to be evidenced by a
writing signed by the Company and the Rights Agent. At any time when the Rights are no longer redeemable, except as provided in the penultimate sentence of this Section 27, the Company may supplement or amend this Rights Agreement without the
approval of any holders of Right Certificates in order to (i) cure any ambiguity, (ii) correct or supplement any provision contained herein which may be defective or inconsistent with any other provisions herein, (iii) shorten or
lengthen any time period hereunder, or (iv) change or supplement the provisions hereunder in any manner which the Company may deem necessary or desirable, any such supplement or amendment to be evidenced by a writing signed by the Company and
the Rights Agent; provided that no such supplement or amendment shall adversely affect the interests of the holders of Rights as such (other than an Acquiring Person or an Affiliate or Associate of an Acquiring Person), and no such amendment
may cause the Rights again to become redeemable or cause the Rights Agreement again to become amendable other than in accordance with this sentence. Upon the delivery of a certificate from an appropriate officer of the Company that states that the
proposed supplement or amendment complies with this Section 27, the Rights Agent shall execute such supplement or amendment. Prior to the Distribution Date, the interests of the holders of Rights shall be deemed coincident with the interests of
the holders of Common Stock. 
 28. Successors. All of the covenants and provisions of this Rights Agreement by or for the benefit of
the Company or the Rights Agent shall bind and inure to the benefit of their respective successors and assigns hereunder. 
 29. Benefits
of this Rights Agreement. Nothing in this Rights Agreement shall be construed to give to any Person other than the Company, the Rights Agent and the registered holders of the Right Certificates (and, prior to the Distribution Date, the Common
Stock) any legal or equitable right, remedy or claim under this Rights Agreement; this Rights Agreement shall be for the sole and exclusive benefit of the Company, the Rights Agent and the holders of record of the Right Certificates (and, prior to
the Distribution Date, the Common Stock). 
 30. Determinations and Actions by the Board of Directors. The Board of Directors shall
have the exclusive power and authority to administer this Rights Agreement and to exercise the rights and powers specifically granted to the Board of Directors or to the Company, or as may be necessary or advisable in the administration of this
Rights Agreement, including, without limitation, the right and power to (i) interpret the provisions of this Rights Agreement and (ii) make all determinations deemed necessary or advisable for the administration of this Rights Agreement
(including, without limitation, a determination to redeem or not redeem the Rights or to amend or not amend this Rights Agreement). All such actions, calculations, interpretations and determinations (including, for purposes of clause (y) below,
all omissions with respect to the foregoing) which are done or made by the Board of Directors in good faith, including but not limited to those made under Sections 1 and 11 hereunder, (x) shall be final, conclusive and binding on the Company,
the Rights Agent, the holders of the Rights, as such, and all other Persons, and (y) not subject the Board to any liability to the holders of the Rights. 
  

 37 

 31. Three Year Independent Director Evaluation. A committee of the Company’s Board of
Directors shall review this Rights Agreement in order to consider whether the maintenance of this Rights Agreement continues to be in the best interests of the Company and its stockholders. Such committee shall conduct such review periodically when,
as and in such manner as the committee deems appropriate, after giving due regard to all relevant circumstances; provided, however, that the committee shall take such action at least every three years following the date hereof. Following each such
review, such committee will report its conclusions to the full Board of Directors, including any recommendation in light thereof as to whether this Rights Agreement should be modified or the Rights should be redeemed. Such committee shall be
comprised only of directors of the Company who shall have been determined by the Company’s Board of Directors to be independent under the NASDAQ listing standards, or, if the Common Shares are listed on a national exchange, such national
exchange’s listing standards. Such committee is authorized to retain such legal counsel, financial advisors and other advisors as the committee deems appropriate in order to assist the committee in carrying out its foregoing responsibilities
under this Rights Agreement. Such committee shall initially be the Nominating and Corporate Governance Committee of the Company’s Board of Directors, provided that the Board of Directors may, at its discretion, delegate this review to another
committee of independent directors pursuant to this provision. 
 32. Governing Law. This Rights Agreement and each Right Certificate
issued hereunder shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be governed by and construed in accordance with the laws of such state applicable to contracts to be made solely by residents
of such state and performed entirely within such state. 
 33. Counterparts. This Rights Agreement may be executed in any number of
counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 
 34. Descriptive Headings. Descriptive headings of the several sections of this Rights Agreement are inserted for convenience only and shall not
control or affect the meaning or construction of any of the provisions hereof. 
 35. Severability. If any term, provision, covenant
or restriction of this Rights Agreement is held by a court of competent jurisdiction or other authority to be invalid, illegal or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Rights Agreement shall remain
in full force and effect and shall in no way be affected, impaired or invalidated. 
  

 38 

 IN WITNESS WHEREOF, the parties hereto have caused this Rights Agreement to be duly executed as of the
date and year first above written. 
  

			
	A.D.A.M., INC.
		
	By:	 	/s/ Kevin S. Noland
		 	Kevin S. Noland
		 	President and Chief Executive Officer

  

			
	AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC
		
	By:	 	/s/ Herbert J. Lemmer
		 	Herbert J. Lemmer
		 	Vice President

  

 39 

 EXHIBIT A 
 A.D.A.M., INC. 
 ARTICLES OF AMENDMENT 
 TO THE ARTICLES OF INCORPORATION 
 OF

 A.D.A.M., INC. 
 1.

 The name of the Corporation presenting these Articles of Amendment is A.D.A.M., Inc. 
 2. 
 The Articles of Incorporation of the
Corporation are hereby further amended by (i) deleting Sections 2.2.1 through 2.2.11, which designate the rights, privileges and preferences of the Corporation’s Series A convertible preferred stock, none of which is issued and outstanding
and (ii) inserting in lieu thereof the following Sections 2.2.1 through 2.2.11, designating 100,000 shares of the Corporation’s Preferred Stock as “Series B Preferred Stock”, with the designations, preferences, qualifications,
voting rights and powers, conversion rights, limitations and other relative rights as provided in such sections. 
 RESOLVED, that, pursuant
to the authority vested in the Board of Directors of this Corporation in accordance with the provisions of its Articles of Incorporation, a series of Preferred Stock of the Corporation be and it hereby is created, and that the designation and amount
thereof and the powers, preferences and relative, participating, optional and other special rights of the shares of such series, and the qualifications, limitations or restrictions thereof are as follows: 
 Section 2.2.1. Designation and Amount. The shares of such series shall be designated as “Series B Preferred Stock” (the
“Series B Preferred Stock”), $0.01 par value per share, and the number of shares constituting such series shall be 100,000. 
 Section 2.2.2. Dividends and Distributions. 
 (A) The dividend rate on the shares of Series B Preferred
Stock shall be for each quarterly dividend (hereinafter referred to as a “quarterly dividend period”), which quarterly dividend periods shall commence on January 1, April 1, July 1 and October 1 each year (each such
date being referred to herein as a “Quarterly Dividend Payment Date”) (or in the case of original issuance, from the date of original issuance) and shall end on and include the day next preceding the first date of the next quarterly
dividend period, at a rate per quarterly dividend period (rounded to the nearest cent) subject to the provisions for adjustment hereinafter set forth, 1,000 times the aggregate per share amount of all cash dividends, and 1,000 times the
aggregate per share amount (payable in cash, based upon the fair market value at the time the non-cash dividend or other distribution is declared as 

 
determined in good faith by the Board of Directors) of all non-cash dividends or other distributions other than a dividend payable in shares of Common Stock
or a subdivision of the outstanding shares of Common Stock (by reclassification or otherwise), declared (but not withdrawn) on the Common Stock, par value $0.01 per share, of the Corporation (the “Common Stock”) during the immediately
preceding quarterly dividend period, or, with respect to the first quarterly dividend period, since the first issuance of any share or fraction of a share of Series B Preferred Stock. In the event this Company shall at any time after
July 31, 2009 (the “Rights Declaration Date”) (i) declare any dividend on Common Stock payable in shares of Common Stock, (ii) subdivide the outstanding Common Stock, or (iii) combine the outstanding Common Stock into a
smaller number of shares, then in each such case the amount to which holders of shares of Series B Preferred Stock were entitled immediately prior to such event under clause (b) of the preceding sentence shall be adjusted by multiplying
such amount by a fraction the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such
event. 
 (B) Dividends shall begin to accrue and be cumulative on outstanding shares of Series B Preferred Stock from
the Quarterly Dividend Payment Date next preceding the date of issue of such shares of Series B Preferred Stock, unless the date of issue of such shares is prior to the record date for the first Quarterly Dividend Payment Date, in which case
dividends on such shares shall begin to accrue from the date of issue of such shares, or unless the date of issue is a Quarterly Dividend Payment Date or is a date after the record date for the determination of holders of shares of Series B
Preferred Stock entitled to receive a quarterly dividend and before such Quarterly Dividend Payment Date, in either of which events such dividends shall begin to accrue and be cumulative from such Quarterly Dividend Payment Date. Accrued but unpaid
dividends shall not bear interest. Dividends paid on the shares of Series B Preferred Stock in an amount less than the total amount of such dividends at the time accrued and payable on such shares shall be allocated pro rata on a share-by-share
basis among all such shares at the time outstanding. The Board of Directors may fix a record date for the determination of holders of shares of Series B Preferred Stock entitled to receive payment of a dividend or distribution declared thereon,
which record date shall be no more than 45 days prior to the date fixed for the payment thereof. 
 Section 2.2.3. Voting Rights.
The holders of shares of Series B Preferred Stock shall have the following voting rights: 
 (A) Subject to the provision
for adjustment hereinafter set forth, each share of Series B Preferred Stock shall entitle the holder thereof to 1,000 votes on all matters submitted to a vote of the stockholders of the Corporation. In the event the Corporation shall at
any time after the Rights Declaration Date (i) declare any dividend on Common Stock payable in shares of Common Stock, (ii) subdivide the outstanding Common Stock, or (iii) combine the outstanding Common Stock into a smaller number of
shares, then in each such case the number of votes per share to which holders of shares of Series B Preferred Stock were entitled immediately prior to such event shall be adjusted by multiplying such number by a fraction the numerator of which
is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event. 
  

 2 

 (B) Except as otherwise provided herein, in the Articles of Incorporation or Bylaws, the
holders of shares of Series B Preferred Stock and the holders of shares of Common Stock shall vote together as one class on all matters submitted to a vote of stockholders of the Corporation. 
 (C) Except as set forth herein, in the Articles of Incorporation and in the Bylaws, holders of Series B Preferred Stock shall have no
special voting rights and their consent shall not be required (except to the extent they are entitled to vote with holders of Common Stock as set forth herein) for taking any corporate action. 
 Section 2.2.4. Reacquired Shares. Any shares of Series B Preferred Stock purchased or otherwise acquired by the Corporation in any manner
whatsoever shall be retired and canceled promptly after the acquisition thereof. All such shares shall upon their cancellation become authorized but unissued shares of Preferred Stock and may be reissued as part of a new series of Preferred Stock to
be created by resolution or resolutions of the Board of Directors, subject to the conditions and restrictions on issuance set forth herein. 
 Section 2.2.5. Liquidation, Dissolution or Winding Up. 
 (A) In the event of any voluntary or involuntary
liquidation, dissolution or winding up of the Corporation, the holders of the Series B Preferred Stock shall be entitled to receive an amount per share, subject to the provision for adjustment hereinafter set forth, equal to
1,000 times the aggregate amount to be distributed per share to holders of Common Stock. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare any dividend on Common Stock payable in shares of Common
Stock, (ii) subdivide the outstanding Common Stock, or (iii) combine the outstanding Common Stock into a smaller number of shares, then in each such case the amount to which holders of shares of Series B Preferred Stock were entitled
immediately prior to such event pursuant to clause (b) of the preceding sentence shall be adjusted by multiplying such amount by a fraction the numerator of which is the number of shares of Common Stock outstanding immediately after such event
and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event. 
 Section 2.2.6.
Consolidation, Merger, etc. In case the Corporation shall enter into any consolidation, merger, combination or other transaction in which the shares of Common Stock are exchanged for or changed into other stock or securities, cash and/or any
other property, then in any such case the shares of Series B Preferred Stock shall at the same time be similarly exchanged or changed in an amount per share (subject to the provision for adjustment hereinafter set forth) equal to
1,000 times the aggregate amount of stock, securities, cash and/or any other property (payable in kind), as the case may be, into which or for which each share of Common Stock is changed or exchanged. In the event the Corporation shall at any
time after the Rights Declaration Date (i) declare any dividend on Common Stock payable in shares of Common Stock, (ii) subdivide the outstanding Common Stock, or (iii) combine the 

  

 3 

 
outstanding Common Stock into a smaller number of shares, then in each such case the amount set forth in the preceding sentence with respect to the exchange
or change of shares of Series B Preferred Stock shall be adjusted by multiplying such amount by a fraction the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is
the number of shares of Common Stock that were outstanding immediately prior to such event. 
 Section 2.2.7. No Redemption. The
shares of Series B Preferred Stock shall not be redeemable. 
 Section 2.2.8. Fractional Shares. Series B Preferred Stock
may be issued in fractions of a share which shall entitle the holder, in proportion to such holder’s fractional shares, to exercise voting rights, receive dividends, participate in distributions and have the benefit of all other rights of
holders of Series B Preferred Stock. All payments made with respect to fractional shares hereunder shall be rounded to the nearest whole cent. 
 Section 2.2.9. Certain Restrictions. 
 (A) Whenever quarterly dividends or other dividends or distributions
payable on the Series B Preferred Stock as provided in Section 2 are in arrears, thereafter and until all accrued and unpaid dividends and distributions, whether or not declared, on shares of Series B Preferred Stock outstanding shall
have been paid in full, the Corporation shall not: 
 (i) declare or pay dividends on, make any other distributions on, or
redeem or purchase or otherwise acquire for consideration any shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series B Preferred Stock; 
 (ii) declare or pay dividends on or make any other distributions on any shares of stock ranking on a parity (either as to dividends or
upon liquidation, dissolution or winding up) with the Series B Preferred Stock, except dividends paid ratably on the Series B Preferred Stock and all such parity stock on which dividends are payable or in arrears in proportion to the total
amounts to which the holders of all such shares are then entitled; 
 (iii) redeem or purchase or otherwise acquire for
consideration shares of any stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series B Preferred Stock, provided that the Corporation may at any time redeem, purchase or otherwise acquire
shares of any such parity stock in exchange for shares of any stock of the Corporation ranking junior (either as to dividends or upon dissolution, liquidation or winding up) to the Series B Preferred Stock; or 
 (iv) purchase or otherwise acquire for consideration any shares of Series B Preferred Stock, or any shares of stock ranking on a
parity with the Series B Preferred Stock, except in accordance with a purchase offer made in writing or by publication (as determined by the Board of Directors) to all holders of such shares upon such terms as the Board of Directors, after
consideration of the respective annual dividend rates and other relative rights and preferences of the respective series and classes shall determine in good faith will result in fair and equitable treatment among the respective series or classes.

  

 4 

 (B) The Corporation shall not permit any subsidiary of the Corporation to purchase or
otherwise acquire for consideration any shares of stock of the Corporation unless the Corporation could, under paragraph (A) of this Section 9, purchase or otherwise acquire such shares at such time and in such manner. 
 Section 2.2.10. Ranking. The Series B Preferred Stock shall be junior to all other Series of the Corporation’s preferred stock as to the
payment of dividends and the distribution of assets, unless the terms of any series shall provide otherwise. 
 Section 2.2.11.
Amendment. The Articles of Incorporation of the Corporation shall not be amended in any manner which would materially alter or change the powers, preferences or special rights of the Series B Preferred Stock so as to affect them
adversely without the affirmative vote of the holders of two-thirds or more of the outstanding shares of Series B Preferred Stock voting together as a single class. 
 The amendments contemplated by these Articles of Amendment were adopted as of June 26, 2009, and were duly adopted by the Corporation’s Board of Directors. Shareholder approval was not required. 

[SIGNATURE APPEARS ON THE FOLLOWING PAGE] 
  

 5 

 IN WITNESS WHEREOF, the Corporation has caused these Articles of Amendment to be executed on July 1, 2009
by its duly authorized officer. 
  

			
	A.D.A.M., INC.
		
	By:	 	/s/ Kevin S. Noland
		 	Kevin S. Noland
		 	President and Chief Executive Officer

 EXHIBIT B  
 [Form of Right Certificate] 
  

			
	Certificate No. W-	  	____________ Rights

 NOT EXERCISABLE AFTER JUNE 29, 2019, OR EARLIER IF REDEEMED OR EXCHANGED. AT THE OPTION OF
THE COMPANY, THE RIGHTS MAY BE REDEEMED AT $0.01 PER RIGHT OR EXCHANGED FOR COMMON STOCK ON THE TERMS SET FORTH IN THE RIGHTS AGREEMENT. IN THE EVENT THAT THE RIGHTS REPRESENTED BY THIS CERTIFICATE ARE ISSUED TO A PERSON WHO IS AN ACQUIRING PERSON
OR CERTAIN TRANSFEREE OF THE RIGHTS PREVIOUSLY OWNED BY SUCH PERSONS, THIS RIGHT CERTIFICATE AND THE RIGHTS REPRESENTED HEREBY SHALL BE NULL AND VOID AND WILL NO LONGER BE TRANSFERABLE. 
 RIGHT CERTIFICATE 
 A.D.A.M., INC. 
 This certifies
that                        , or registered assigns, is the registered owner of the number of Rights set forth
above, each of which entitles the owner thereof, subject to the terms, provisions and conditions of the Rights Agreement dated as of June 29, 2009 (the “Rights Agreement”) between A.D.A.M., Inc., a Georgia corporation (the
“Company”), and American Stock Transfer & Trust Company (the “Rights Agent”), to purchase from the Company at any time after the Distribution Date (as such term is defined in the Rights Agreement) and prior to
5:00 p.m. (Atlanta time) on June 29, 2019, at the principal office of the Rights Agent, or of its successors as Rights Agent, designated for such purpose, one one-thousandth of a fully paid and nonassessable share of Series B Preferred
Stock of the Company (the “Preferred Stock”) at a purchase price of $12.00 per one one-thousandth of a share, as the same may from time to time be adjusted in accordance with the Rights Agreement (the “Purchase Price”), upon
presentation and surrender of this Right Certificate with the Form of Election to Purchase duly executed. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to such terms in the Rights Agreement.

 As provided in the Rights Agreement, the Purchase Price and the number of shares of Preferred Stock or other securities which may be
purchased upon the exercise of the Rights evidenced by this Right Certificate are subject to modification and adjustment upon the happening of certain events and, upon the happening of certain events, securities other than shares of Preferred Stock,
or other property, may be acquired upon exercise of the Rights evidenced by this Right Certificate, as provided by the Rights Agreement. 
 Upon the occurrence of a Flip-In Event, if the Rights evidenced by this Rights Certificate are beneficially owned by (i) an Acquiring Person or an Affiliate or Associate of any such Acquiring Person, (ii) a transferee of any such
Acquiring Person, Associate or Affiliate, or (iii) under certain circumstances specified in the Rights Agreement, a transferee of a Person who, after such transfer, 

 
became an Acquiring Person, or any Affiliate or Associate of an Acquiring Person, such Rights shall be null and void and will no longer be transferable and
no holder hereof shall have any right with respect to such Rights from and after the occurrence of such Flip-In Events. 
 This Right
Certificate is subject to all the terms, provisions and conditions of the Rights Agreement, which terms, provisions and conditions are incorporated herein by reference and made a part hereof and to which Rights Agreement reference is hereby made for
a full description of the rights, limitations of rights, obligations, duties and immunities of the Rights Agent, the Company and the holders of record of the Right Certificates, which limitation of rights include the temporary suspension of the
exercisability of such Rights under the specific circumstances set forth in the Rights Agreement. Copies of the Rights Agreement are on file at the principal executive office of the Company and are available upon written request to the Company.

 This Right Certificate, with or without other Right Certificates, upon surrender at the principal office of the Rights Agent designated
for such purpose, may be exchanged for another Right Certificate or Right Certificates of like tenor and date evidencing Rights entitling the holder of record to purchase a like aggregate number of shares of Preferred Stock as the Rights evidenced
by the Right Certificate or Right Certificates surrendered shall have entitled such holder to purchase. If this Right Certificate shall be exercised in part, the holder shall be entitled to receive upon surrender hereof, another Right Certificate or
Right Certificates for the number of whole Rights not exercised. 
 Subject to the provisions of the Rights Agreement, at any time prior to
the earlier of (i) the occurrence of a Flip-In Event (as such term is defined in the Rights Agreement) or (ii) the Expiration Date (as such term is defined in the Rights Agreement), the Rights evidenced by this Certificate may be redeemed
by the Company at its option at a redemption price of $0.01 per Right. Subject to the provisions of the Rights Agreement, the Company may, at its option, at any time after a Flip-In Event, exchange all or part of the Rights evidenced by this
Certificate for shares of the Company’s Common Stock or for Preferred Stock (or shares of a class or series of the Company’s preferred stock having the same rights, privileges and preferences as the Preferred Stock). 
 In the event (i) any Person or group becomes an Acquiring Person or (ii) any of the types of transactions, acquisitions or other events
described above as self-dealing transactions occur, and prior to the acquisition by such person or group of 50% or more of the outstanding shares of Common Stock, the Board of Directors may require all or any portion of the outstanding Rights (other
than Rights owned by such Acquiring Person which have become null and void) to be exchanged for Common Stock on a pro rata basis, at an exchange ratio of one share of Common Stock or one one-thousandth of a share of Preferred Stock (or of a share of
a class or series of the Company’s Preferred Stock having equivalent rights, preferences and privileges), per Right (subject to adjustment). 
 No fractional shares of Preferred Stock shall be issued upon the exercise of any Right or Rights evidenced hereby (other than fractions which are integral multiples of one one-thousandth of a share of Preferred Stock, which may, at the
option of the Company, be evidenced by depositary receipts), and no fractional shares of Common Stock will be issued upon the exchange of any Right or 

  

 2 

 
Rights evidenced hereby, and in lieu thereof, as provided in the Rights Agreement, fractions of shares of Preferred Stock or Common Stock shall receive an
amount in cash equal to the same fraction of the then Current Market Price (as such term is defined in the Rights Agreement) of a share of Preferred Stock or Common Stock, as the case may be. 
 No holder of this Right Certificate, as such, shall be entitled to vote or receive dividends or be deemed for any purpose the holder of Common Stock or
of any other securities of the Company which may at any time be issuable on the exercise hereof, nor shall anything contained in the Rights Agreement or herein be construed to confer upon the holder hereof, as such, any of the rights of a
stockholder of the Company or any right to vote in the election of directors; or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold consent to any corporate action or to receive notice of meetings or other
actions affecting stockholders (other than certain actions specified in the Rights Agreement) or to receive dividends or subscription rights, or otherwise, until the Right or Rights evidenced by this Right Certificate shall have been exercised or
exchanged as provided in the Rights Agreement. 
 This Right Certificate shall not be valid or obligatory for any purpose until it shall have
been countersigned by the Rights Agent. 
  

 3 

 WITNESS the facsimile signature of the proper officers of the Company. Dated as of
________________________, _____. 
  

									
	ATTEST:	 		 	A.D.A.M., INC.
				
	 	 		 	By:	 	 
	Secretary	 		 		 	
		 		 		 	Title:	 	 

  

							
	COUNTERSIGNED:	 		 	 AMERICAN STOCK TRANSFER &
 TRUST COMPANY, as Rights Agent

				
		 		 	By:	 	 
		 		 	Authorized Officer

  

 4 

 Form of Reverse Side of Right Certificate  
 FORM OF ASSIGNMENT  
 (To be executed by the registered holder if such holder

 desires to transfer any or all of the Rights 
 represented by this Right Certificate) 
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and
transfers unto 
  
  
  
  
  
  
 (Name, address and social security or other
identifying number of transferee) 
 ___________________________________
(                  ) of the Rights represented by this Right Certificate, together with all right, title and interest in and to said Rights, and hereby
irrevocably constitutes and appoints _________________________ attorney to transfer said Rights on the books of the within-named Company with full power of substitution. 
  

			
		
	Dated:___________________, ______	 	  
		 	(Signature)

 Signature Guaranteed: 
 CERTIFICATE 
 The undersigned hereby certifies by checking the appropriate boxes that: 
 (1) the rights evidenced by this Right Certificate [    ] are [    ] are not being sold, assigned and transferred
by or on behalf of a Person who is or was an Acquiring Person (as such capitalized terms are defined in the Rights Agreement); 
 (2) after
due inquiry and to the best knowledge of the undersigned, it [    ] did [    ] did not acquire the Rights evidenced by this Right Certificate from any Person who is or was an Acquiring Person or an Affiliate
or Associate of an Acquiring Person or any transferee of such Persons. 
  

			
		
	Dated:___________________, ______	 	  
		 	(Signature)

 Signature Guaranteed: 
  

 5 

 Form of Reverse Side of Right Certificate 
 (continued)  
 NOTICE 
 The signatures to the foregoing Assignment and the foregoing Certificate, if applicable, must correspond to the name as written upon the face of this
Right Certificate in every particular, without alteration or enlargement or any change whatsoever, and must be guaranteed by a participant in a Securities Transfer Association (“STA”) recognized signature program. 
 In the event that the foregoing Certificate is not duly executed, with signature guaranteed, the Company may deem the Rights represented by this Right
Certificate to be Beneficially Owned by an Acquiring Person or an Affiliate or Associate of an Acquiring Person (as such capitalized terms are defined in the Rights Agreement), and not issue any Right Certificate or Right Certificates in exchange
for this Right Certificate. 
  

 6 

 Form of Reverse of Right Certificate 
 (continued)  
 FORM OF ELECTION TO PURCHASE  
 (To be executed by the registered holder if such holder 
 desires to exercise any or all of the Rights 
 represented by this Right Certificate) 
 To A.D.A.M., Inc. 
 The undersigned hereby
irrevocably elects to exercise _______________ (                    ) of the Rights represented by this Right Certificate to purchase the
shares of the Common Stock of the Company, or other securities or property issuable upon the exercise of said number of Rights pursuant to the Rights Agreement. 
 The undersigned hereby requests that a certificate for any such securities (or, if indicated below, appropriate action so that a book-entry for uncertificated securities be made) and any such property be issued in the
name of and delivered to: 
  
  
  
  
  
  
 (Name, address and social security or other
identifying number of issuee) 
 The undersigned hereby further requests that if said number of Rights shall not be all the Rights
represented by this Right Certificate, a new Right Certificate for the remaining balance of such Rights be issued in the name of and delivered to: 
  
  
  
  
  
  
 (Name, address and social security or other identifying number of issuee) 
  

			
		
	Dated:___________________, ______	 	  
		 	(Signature)

 Signature Guaranteed: 
  

 7 

 Form of Reverse Side of Right Certificate 
 (continued)  
 CERTIFICATE 
 The undersigned hereby certifies by checking the appropriate boxes that: 
 (1) the Rights evidenced by this Right Certificate [    ] are [    ] are not being exercised by or on behalf of a Person who is or was an Acquiring Person or an Affiliate or
Associate of any such Acquiring Person or an Affiliate or Associate of any such Acquiring Person (as such terms are defined pursuant to the Rights Agreement); 
 (2) after due inquiry and to the best knowledge of the undersigned, it [    ] did [    ] did not acquire the Rights evidenced by this Right Certificate from any Person who is or
was an Acquiring Person or an Affiliate or Associate of an Acquiring Person or any transferee of such Persons. 
  

			
		
	Dated:___________________, ______	 	  
		 	(Signature)

 Signature Guaranteed: 
 NOTICE 
 The signature to the foregoing Election to Purchase and the foregoing
Certificate, if applicable, must correspond to the name as written upon the face of the this Right Certificate in every particular, without alteration or enlargement or any change whatsoever, and must be guaranteed by a member firm of a registered
national securities exchange, a member of the National Association of Securities Dealers, Inc., or a commercial bank or trust company having an office or correspondent in the United States. 
 In the event that the foregoing Certificate is not executed, with signature guaranteed, the Company may deem the Rights represented by this Right
Certificate to be Beneficially Owned by an Acquiring Person or an Affiliate or Associate of an Acquiring Person (as such capitalized terms are defined in the Rights Agreement), and not issue any Right Certificate or Right Certificates in exchange
for this Right Certificate. 
  

 8 

 EXHIBIT C 
 UNDER CERTAIN CIRCUMSTANCES, AS SET FORTH IN THE RIGHTS AGREEMENT, DATED JUNE 29, 2009 (THE “RIGHTS AGREEMENT”) BETWEEN A.D.A.M., INC. AND AMERICAN STOCK TRANSFER & TRUST COMPANY RIGHTS ISSUED TO, BENEFICIALLY OWNED BY OR
TRANSFERRED TO ANY PERSON WHO IS OR BECOMES AN ACQUIRING PERSON (AS DEFINED IN THE RIGHTS AGREEMENT) OR AN ASSOCIATE OR AFFILIATE (AS DEFINED IN THE RIGHTS AGREEMENT) THEREOF AND CERTAIN TRANSFEREES THEREOF WILL BE NULL AND VOID AND WILL NO LONGER
BE TRANSFERABLE. 
 A.D.A.M., INC. 
 SUMMARY OF TERMS OF 
 RIGHTS AGREEMENT 
  

			
	Nature of Right:	  	When exercisable, each Right (a “Right”) will initially entitle the holder to purchase one one-thousandth of a share of Series B Preferred Stock (“Preferred Stock”) of
A.D.A.M., Inc. (the “Company”).
		
	Means of Distribution:	  	The Rights will be distributed to holders of the Company’s outstanding Common Stock as a dividend of one Right for each share of Common Stock. The Rights will also be attached to all
future issuances of Common Stock prior to the Distribution Date (as defined below).
		
	Exercisability:	  	Rights become exercisable on the earlier of: (i) the tenth day after the date of public announcement by the Company or by any person or group (an “Acquiring Person”) that such
person or group has acquired beneficial ownership of 15% or more of the Company’s outstanding Common Stock, or (ii) the tenth business day (unless extended by the Board prior to the time a person becomes an Acquiring Person) following the
commencement, or announcement of an intention to commence, by any person or group of a tender or exchange offer which would result in such person owning 15% or more of the outstanding Common Stock of the Company (the earlier of such dates is
referred to as the “Distribution Date”), provided that an Acquiring Person does not include an Exempt Person or Grandfathered Person (as such terms are defined in the Rights Agreement). Rights will trade separately from the Common
Stock once the Rights become exercisable.
		
	Purchase Price:	  	$12.00 per one one-thousandth of a share of Series B Preferred, which is the amount that in the judgment of the Board of Directors represents the long-term value of one share of Common Stock
over the term of the Rights Agreement (the “Purchase Price”).
		
	Term:	  	The Rights will expire upon the earlier of (i) ten years after the date of issuance, or June 29, 2019 or (ii) redemption or exchange by the Company as described
below.
		
	Redemption of Rights:	  	Rights are redeemable at a price of $0.01 per Right, by the vote of the Company’s Board of Directors, at any time until the occurrence of a Flip-In Event (defined
below).

			
	Preferred Stock:	  	The Preferred Stock purchasable upon exercise of the Rights will be nonredeemable and junior to any other series of preferred stock the Company may issue (unless otherwise provided in the
terms of such other series). Each share of Preferred Stock will have a preferential cumulative quarterly dividend in an amount equal to 1,000 times the dividend declared on each share of Common Stock. In the event of liquidation, the holders of
Preferred Stock will receive a preferred liquidation payment equal to an amount per share equal to 1,000 times the aggregate payment to be distributed per share of Common Stock. Each share of Preferred Stock will have 1,000 votes, voting together
with the shares of Common Stock. In the event of any merger, consolidation or other transaction in which shares of Common Stock are exchanged for or changed into other securities, cash and/or other property, each share of Preferred Stock will be
entitled to receive 1,000 times the amount and type of consideration received per share of Common Stock. The rights of the Preferred Stock as to dividends, liquidation and voting, and in the event of mergers and consolidations, are protected by
customary anti-dilution provisions. Fractional shares (in integral multiples of one one-thousandth) of Preferred Stock will be issuable; however, the Company may elect to distribute depositary receipts in lieu of such fractional shares. In lieu of
fractional shares other than fractions that are multiples of one one-thousandth of a share, an adjustment in cash will be made based on the market price of the Preferred Stock on the last trading date prior to the date of exercise. Because of the
nature of the Preferred Stock’s dividend, liquidation and voting rights, the value of one one-thousandth of a share of Preferred Stock purchasable upon exercise of each Right should approximate the value of one share of Common
Stock.
		
	Rights in Event of Self-Dealing Transaction or Acquisition of Substantial Amount of Common Stock:	  	In the event that an Acquiring Person engages in certain self-dealing transactions with the Company, or any person becomes a Beneficial Owner of 15% or more of the outstanding Common Stock
(“Flip-In Events”), a holder of a Right thereafter has the right to purchase, upon payment of the then current Purchase Price, in lieu of one one-thousandth of a share of Preferred Stock per outstanding Right, such number of shares of
Common Stock having a market value at the time of the transaction equal to the Purchase Price divided by one-half the Current Market Price (as defined in the Rights Agreement) of the Common Stock. Notwithstanding the foregoing, Rights held by an
Acquiring Person or any Associate or Affiliate thereof or certain transferees will be null and void and no longer be transferable.
		
		  	Self-dealing transactions are defined to include a consolidation, merger or other combination of an Acquiring Person with the Company in which the Company is the surviving corporation, the
transfer of assets to the Company in exchange for securities of the Company, the acquisition of securities of the Company (other than in a pro rata distribution to all shareholders), the sale, purchase, transfer, distribution, lease, mortgage,
pledge or acquisition of assets by the Acquiring Person to, from or with the Company on other than an arm’s length basis, compensation to an Acquiring Person for services (other than for employment as a regular or part-time employee or director
on a basis consistent with the Company’s past practice), a loan or provision of other financial assistance (except proportionately as a shareholder) to an Acquiring Person or the licensing, sale or other transfer of proprietary technology or
know-how from the Company to the Acquiring Person on terms not approved by the Board of Directors or a reclassification, recapitalization or other transaction with the effect of increasing by more than 1% the Acquiring Person’s proportionate
share of any class of securities of the Company.

  

 2 

			
	 Rights in Event of
 Business Combination:

	  	If, following the occurrence of a Flip-In Event, the Company is acquired by any person in a merger or other business combination transaction in which the Common Stock is exchanged or
converted or in which the Company is not the surviving corporation, or 50% or more of its assets or earnings power are sold to any person (“Flip-Over Events”), each holder of a Right (other than an Acquiring Person, or Affiliates or
Associates thereof) shall thereafter have the right to purchase, upon payment of the then current Purchase Price, such number of shares of common stock of the acquiring company having a current market value equal to the Purchase Price divided by
one-half the Current Market Price of such common stock.
		
	Exchange Option:	  	In the event (i) any person or group becomes an Acquiring Person or (ii) any of the types of transactions, acquisitions or other events described above as self-dealing transactions
occur, and prior to the acquisition by such person or group of 50% or more of the outstanding shares of Common Stock, the Board may require all or any portion of the outstanding Rights (other than Rights owned by such Acquiring Person which have
become void) to be exchanged for Common Stock on a pro rata basis, at an exchange ratio of one share of Common Stock or one one-thousandth of a share of Preferred Stock (or of a share of a class or series of the Company’s Preferred Stock having
equivalent rights, preferences and privileges), per Right (subject to adjustment).
		
	Fractional Shares:	  	No fractional shares of Common Stock will be issued upon exercise of the Rights and, in lieu thereof, a payment in cash will be made to the holder of such Rights equal to the same fraction of
the current market value of a share of Common Stock.
		
	Adjustment:	  	The Purchase Price payable, and the number of shares of Preferred Stock or other securities or property issuable, upon exercise of the Rights are subject to adjustment from time to time to
prevent dilution (i) in the event of a stock dividend on, or a subdivision, combination or reclassification of the Preferred Stock, (ii) upon the grant to holders of the Preferred Stock of certain rights or warrants to subscribe for
Preferred Stock or convertible securities at less than the current market price of the Preferred Stock or (iii) upon the distribution to holders of the Preferred Stock of evidences of indebtedness or assets (excluding dividends payable in
Preferred Stock) or of subscription rights or warrants (other than those referred to above). The number of Rights associated with each share of Common Stock is also subject to adjustment in the event of a stock split of the Common Stock or a stock
dividend on the Common Stock payable in Common Stock or subdivisions, consolidations or combinations of the Common Stock occurring, in any such case, prior to the Distribution Date.
		
	Rights as Shareholder:	  	The Rights themselves do not entitle the holder thereof to any rights as a shareholder, including, without limitation, voting rights or to receive dividends.
		
	Amendment of Rights:	  	Until the Rights become nonredeemable, the Company may amend the Rights Agreement in any manner. After the Rights become nonredeemable, the Company may amend the Rights Agreement to cure any
ambiguity, to correct or supplement any provision which may be defective or inconsistent with any other provisions, to shorten or lengthen any time period under the Rights Agreement, or to change or supplement any provision in any manner the Company
may deem necessary or desirable, provided that no such amendment may adversely affect the interests of the holders of the Rights (other than the Acquiring Person or its Affiliates or Associates) or cause the Rights to again be redeemable or the
Rights Agreement to again be freely amendable.

  

 3 

			
	Independent Director Evaluation:	  	Following the adoption of the Rights Agreement, a committee comprised of independent members of the Company’s Board of Directors shall review the Rights Agreement to determine whether
the maintenance of the Rights Agreement continues to be in the best interests of the Company and its shareholders. Such review shall occur periodically, but at least every three years.

 A copy of the Rights Agreement is available, free of charge, from the Company, 10 10th Street
NE, Suite 500, Atlanta, GA 30309, Attention: Secretary. This summary description of the Rights Agreement does not purport to be complete and is qualified in its entirety by reference to the Rights Agreement, as amended from time to time, which is
incorporated in this summary description by reference. 
  

 4 

 July 1, 2009 
 Dear Fellow Shareholders: 
 The A.D.A.M., Inc. Board of Directors has adopted a Shareholder Rights Plan (the “Plan”). We
have enclosed a summary of the principal terms of the Plan and we urge you to read it carefully. 
 The Plan is designed to protect your
interests in the event A.D.A.M. is confronted with an unsolicited takeover attempt. The Plan, which has not been adopted in response to any known effort to acquire control of our Company, contains provisions designed to deter unsolicited offers that
do not treat all A.D.A.M. shareholders equally. This includes acquisitions of significant blocks of shares in the open market without paying a control premium and other coercive takeover tactics that may impair our Board’s ability to represent
your interests fully. These tactics can unfairly pressure you as a shareholder. The Plan we have adopted is similar to plans adopted by approximately 1,300 publicly held companies, and was adopted by our Board of Directors after consultation with
our investment bankers and counsel. We consider the Plan to be an effective tool in protecting your equity investment, while not preventing a fair acquisition offer. 
 The Plan is not intended to prevent a takeover of our Company. Instead, the Plan is designed to deal with unilateral actions by a hostile acquirer that are calculated to deprive the Board and you as a shareholder of
A.D.A.M. the ability to take actions to maximize shareholder value. The Plan does not preclude our Board from considering or accepting an offer to acquire all or part of our Company if the Board believes the offer to be in the best interests of our
shareholders. In addition, a committee of independent directors will review the Plan at least every three years in order to determine whether the Plan continues to be in the best interests of A.D.A.M. and our shareholders. 
 The adoption of the Plan does not weaken the financial strength of our Company or interfere with our business plans. The issuance of the Rights has no
dilutive effect, will not affect reported earnings per share, is not taxable to the Company or you, and will not change the way in which you can trade A.D.A.M.’s stock. As explained in more detail in the enclosed summary of the Plan, the Rights
can only be exercised if and when a situation arises which the Plan was created to address. 
 You are not required to take any action at
this time. We recommend, however, that you read the enclosed summary of the many features of the Plan, and retain the summary with A.D.A.M., Inc. stock certificates or records. If you should require further information, a copy of the Plan is
available simply by contacting us. 
 Our Board of Directors believes that the adoption of the Plan represents a sound and reasonable means
of preserving the long-term value of A.D.A.M. and for all of our shareholders. Thank you for your continued support. 
 Very truly yours, 
 /s/ Kevin S. Noland 
 Kevin S. Noland 
 President and Chief Executive OfficerSupplemental Senior Subordinated Term Loan Agreement

 Exhibit 10.1 
 EXECUTION COPY 
 SUPPLEMENTAL SENIOR SUBORDINATED TERM LOAN AGREEMENT 
 AND 
 AMENDMENT NO. 1 TO SENIOR SUBORDINATED
TERM LOAN AGREEMENT 
 Dated as of June 29, 2009 
 between 
 QUANTUM CORPORATION, 
 as the Borrower, 
 and 
 EMC INTERNATIONAL COMPANY, 
 as the Lender 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 ARTICLE I DEFINITIONS AND ACCOUNTING TERMS
	  	1
	 1.01
	  	Defined Terms	  	1
	 1.02
	  	Other Interpretive Provisions	  	14
	 1.03
	  	Accounting Terms	  	14
	 1.04
	  	Times of Day	  	15
		
	 ARTICLE II THE TERM LOAN
	  	15
	 2.01
	  	The Term Loans	  	15
	 2.02
	  	Term Loan Borrowing	  	15
	 2.03
	  	Prepayments; Mandatory Offer to Purchase	  	15
	 2.04
	  	Repayment of Term Loans	  	16
	 2.05
	  	Interest.	  	16
	 2.06
	  	Computation of Interest	  	17
	 2.07
	  	Evidence of Indebtedness	  	17
	 2.08
	  	Payments Generally; Application of Payments	  	17
	 2.09
	  	Amendments To Existing Subordinated Term Loan Agreement	  	18
		
	 ARTICLE III TAXES
	  	18
	 3.01
	  	Taxes	  	18
	 3.02
	  	Survival	  	20
		
	 ARTICLE IV CONDITIONS PRECEDENT
	  	20
	 4.01
	  	Conditions to Effectiveness of this Agreement	  	20
	 4.02
	  	Conditions to Acceptance of Exchange Loan	  	23
		
	 ARTICLE V REPRESENTATIONS AND WARRANTIES
	  	26
	         5.01
	  	Existence; Qualification and Power; Compliance with Laws	  	26
	 5.02
	  	Authorization; No Contravention	  	26
	 5.03
	  	Governmental Authorization; Other Consents	  	27
	 5.04
	  	Binding Effect	  	27
	 5.05
	  	Financial Statements; No Material Adverse Effect	  	27
	 5.06
	  	Litigation	  	28
	 5.07
	  	No Default	  	28
	 5.08
	  	Ownership of Property; Liens; Investments	  	28
	 5.09
	  	Environmental Compliance	  	28
	 5.10
	  	Insurance	  	29
	 5.11
	  	Taxes	  	29
	 5.12
	  	Labor Matters	  	30
	 5.13
	  	ERISA Compliance; Employee Benefit Plans	  	30
	 5.14
	  	Subsidiaries; Equity Interests; Loan Parties	  	31
	 5.15
	  	Margin Regulations; Investment Company Act	  	31
	 5.16
	  	Disclosure	  	31

  

 i 

					
	5.17	  	Intellectual Property; Licenses, Etc.	  	32
	5.18	  	Solvency	  	32
	5.19	  	Casualty, Etc.	  	32
	5.20	  	Permitted Refinancing Indebtedness	  	32
	5.21	  	Senior Subordinated Indebtedness	  	32
		
	ARTICLE VI AFFIRMATIVE COVENANTS	  	33
	6.01	  	Financial Statements	  	33
	6.02	  	Notices	  	33
	6.03	  	Preservation of Existence, Etc.	  	33
	6.04	  	Use of Proceeds	  	34
	6.05	  	Further Instruments and Acts	  	34
		
	ARTICLE VII NEGATIVE COVENANTS	  	34
	7.01	  	Fundamental Changes	  	34
		
	ARTICLE VIII EVENTS OF DEFAULT AND REMEDIES	  	35
	8.01	  	Events of Default	  	35
	8.02	  	Remedies upon Event of Default	  	36
		
	ARTICLE IX SUBORDINATION	  	37
	9.01	  	Agreement of Subordination	  	37
	9.02	  	Payments To Lender	  	37
	9.03	  	Subrogation Of Term Loan	  	39
	9.04	  	Notice To Lender	  	40
	9.05	  	Lender’s Relation To Existing Senior Indebtedness	  	41
	        9.06	  	No Impairment Of Subordination	  	41
	9.07	  	Existing Senior Indebtedness Entitled To Rely	  	42
		
	ARTICLE X MISCELLANEOUS	  	42
	10.01	  	Amendments, Etc; Termination	  	42
	10.02	  	Notices and Other Communications; Facsimile Copies	  	42
	10.03	  	No Waiver; Cumulative Remedies	  	43
	10.04	  	Expenses; Indemnity; Damage Waiver	  	43
	10.05	  	Payments Set Aside	  	45
	10.06	  	Successors and Assigns	  	45
	10.07	  	Right of Setoff	  	46
	10.08	  	Interest Rate Limitation	  	46
	10.09	  	Counterparts; Integration; Effectiveness	  	46
	10.10	  	Survival of Representations and Warranties	  	46
	10.11	  	Severability	  	47
	10.12	  	Governing Law; Jurisdiction; Etc.	  	47
	10.13	  	WAIVER OF JURY TRIAL	  	48

  

 ii 

			
	SCHEDULE	  	
		
	5.03	  	Certain Authorizations
	5.05	  	Surviving Indebtedness; Supplement to Interim Financial Statements
	5.08(b)	  	Existing Liens
	5.08(c)	  	Owned Real Property
	5.08(d)	  	Leased Real Property
	5.09	  	Environmental Matters
	5.11	  	Tax Matters
	5.14	  	Subsidiaries and Other Equity Investments; Loan Parties
	5.17	  	Intellectual Property Matters
	9.02	  	Notice Information
		
	EXHIBITS	  	
		
	Form of	  	
		
	A	  	Exchange Loan Agreement
	B	  	Borrowing Notice
	C	  	Tranche A Term Note
	D	  	Tranche B Term Note
	E	  	Solvency Certificate
	F	  	Letter Agreement
	G	  	Opinion Matters – Section 4.01
	H	  	Opinion Matters – Section 4.02

  

 iii 

 SUPPLEMENTAL SENIOR SUBORDINATED TERM LOAN AGREEMENT AND 
 AMENDMENT NO. 1 TO SENIOR SUBORDINATED TERM LOAN AGREEMENT 
 This SUPPLEMENTAL SENIOR SUBORDINATED LOAN AGREEMENT (“Agreement”) is entered into as of June 29, 2009, between QUANTUM CORPORATION, a Delaware corporation, as the borrower (the
“Borrower”) and EMC INTERNATIONAL COMPANY, an entity organized under the laws of the Republic of Ireland and having its principal place of business in Bermuda, as the lender (the “Lender”). Capitalized
terms used herein and not otherwise defined shall have the meanings set forth in Section 1.01. 
 PRELIMINARY STATEMENTS: 

 (1) Subject to the terms and conditions contained herein, the Borrower has requested that (a) the Lender make Term Loans to the
Borrower on the Closing Date in an aggregate principal amount up to $49,582,380.79, the proceeds of which will be used by the Borrower, subject to the limitations and conditions set forth herein, to refinance all or a portion of its 4.375%
convertible subordinated notes due August 1, 2010 (the “Subordinated Notes”), which Subordinated Notes shall be purchased by the Borrower concurrently with the funding of the Term Loans. 
 (2) The Borrower and the Lender entered into the Senior Subordinated Term Loan Agreement, dated as of June 3, 2009, between Borrower and Lender (the
“Existing Subordinated Term Loan Agreement”) and the Borrower and Lender desire to amend the Existing Subordinated Term Loan Agreement concurrently with the closing hereunder. 
 (3) The Lender has indicated its willingness to so lend on the terms and subject to the conditions set forth herein. 
 In consideration of the mutual covenants and agreements herein contained, the parties hereto hereby covenant and agree as follows: 
 ARTICLE I 
 DEFINITIONS AND
ACCOUNTING TERMS 
 1.01 Defined Terms. As used in this Agreement, the following terms shall have the meanings set forth
below: 
 “Acceleration” means acceleration of the Loans (as defined in the Existing Senior Secured Credit Agreement)
pursuant to Section 8.02 of the Existing Senior Secured Credit Agreement. 
 “Affiliate” means, with respect to
any Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Agreement” has the meaning specified in the preamble hereto. 
  

 1 

 “Attributable Indebtedness” means, on any date, (a) in respect of any
Capitalized Lease of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP and (b) in respect of any Synthetic Lease Obligation, the capitalized amount of
the remaining lease payments under the relevant lease that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease were accounted for as a Capitalized Lease. 
 “Audited Financial Statements” means the audited consolidated balance sheet of the Borrower and its Subsidiaries for the fiscal
year ended March 31, 2008, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year of the Borrower and its Subsidiaries, including the notes thereto. 
 “Borrower” has the meaning specified in the preamble hereto. 
 “Borrowing Notice” means a notice of the Term Loans pursuant to Section 2.02 which shall be substantially in the form
of Exhibit B. 
 “Business Day” means a day of the year on which banks are not required or authorized by law
to close in New York, New York. 
 “Capitalized Leases” means all leases that have been or should be, in accordance
with GAAP, recorded as capitalized leases. 
 “CERCLA” means the Comprehensive Environmental Response, Compensation
and Liability Act of 1980. 
 “CERCLIS” means the Comprehensive Environmental Response, Compensation and Liability
Information System maintained by the U.S. Environmental Protection Agency. 
 “Closing Date” means the first date all
the conditions precedent in Section 4.01 are satisfied or waived in accordance with Section 10.01. 
 “Code” means the Internal Revenue Code of 1986, as amended. 
 “Contractual
Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 
 “Control” as applied to any Person, means the possession, directly or indirectly, of the power (i) to vote ten percent
(10%) or more of the Equity Interests having ordinary voting power for the election of directors of such Person, or (ii) to direct or cause the direction of the management and policies of that Person, whether through the ownership of
voting securities or by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 
 “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement,
receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally. 
  

 2 

 “Default” means any event or condition that constitutes an Event of Default or
that, with the giving of any notice, the passage of time, or both, would be an Event of Default. 
 “Default Rate”
means an interest rate equal to 14% per annum. 
 “Dollar” and “$” mean lawful money of
the United States. 
 “Environmental Laws” means any and all Federal, state, local, and foreign statutes, laws,
regulations, ordinances, rules, judgments, orders, decrees, obligations contained in or required by permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the
environment or the release of any Hazardous Materials into the environment, including those related to hazardous substances or wastes, air emissions and discharges to waste or public systems. 
 “Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of
environmental remediation, fines, penalties or indemnities), of the Borrower or any of its Subsidiaries directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling,
transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or (e) any contract, agreement
or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 
 “Equity
Interests” means, with respect to any Person, all of the shares of capital stock of (or other ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person
of shares of capital stock of (or other ownership or profit interests in) such Person, all of the securities convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights
or options for the purchase or acquisition from such Person of such shares (or such other interests), and all of the other ownership or profit interests in such Person (including, without limitation, partnership, member or trust interests therein),
whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other interests are outstanding on any date of determination; provided that the term Equity Interests shall not include any obligation that constitutes
Indebtedness by reason of the fact that such Indebtedness by its terms is or may be convertible into common stock of the obligor thereof. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations promulgated and rulings issued thereunder. 
 “ERISA Affiliate” means any trade or business (whether or not incorporated) under common control with the Borrower within the
meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code). 
  

 3 

 “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan;
(b) a withdrawal by the Borrower or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of ERISA) or a cessation of
operations that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by the Borrower or any ERISA Affiliate from a Multiemployer Plan or a receipt by Borrower or an ERISA Affiliate of
notification that a Multiemployer Plan is in reorganization; (d) the filing of a notice of intent to terminate, the treatment of a Plan amendment as a termination under Sections 4041 or 4041A of ERISA, or the commencement of proceedings by the
PBGC to terminate a Pension Plan or Multiemployer Plan; (e) an event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan or
Multiemployer Plan; (f) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Borrower or any ERISA Affiliate; (g) the failure of the
Borrower or any ERISA Affiliate to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan; or (h) the
application for a minimum funding waiver with respect to a Pension Plan. 
 “Event of Default” has the meaning
specified in Section 8.01. 
 “Exchange Loan Agreement” has the meaning specified in the proviso to
Section 2.04. 
 “Exchange Loan Closing Date” has the meaning specified in Section 4.02(b).

 “Exchange Loan Collateral Documents” means such security agreements, pledge agreements, guaranties, security
agreement supplements, intellectual property security agreements or other similar agreements delivered to Lender in order to create a first priority security interest in substantially all assets (other than real property) of the Borrower and its
domestic Subsidiaries, including without limitation, substantially all personal and mixed property of the Borrower, and a first priority security interest in 100% of the capital stock of each domestic Subsidiary of the Borrower and 66% of the voting
capital stock and 100% of the non-voting capital stock of each foreign Subsidiary that is owned directly by the Borrower or any guarantor and all intercompany debt (subject to certain permitted encumbrances as provided in the Exchange Loan
Agreement); provided, however, that the Borrower shall not be required to take any action in any foreign jurisdiction to perfect its Lien on any personal or mixed property of Borrower or any capital stock of any foreign Subsidiary
except to the extent that (i) the Lender determines in its reasonable credit judgment that the benefits of taking such actions outweigh the burdens imposed on Borrower by taking such actions and (ii) the Lender requests that the Borrower
takes such actions. 
 “Exchange Loan Documents” means, collectively, (a) the Exchange Loan Agreement,
(b) the Senior Secured Exchange Notes, if any, and (c) the Exchange Loan Collateral Documents. 
 “Excluded
Taxes” means, with respect to the Lender or any other recipient of any payment to be made by or on account of any obligation of the Borrower hereunder, (a) branch profits taxes or taxes imposed on or measured by its overall net
income (however denominated), and franchise taxes imposed on it (in lieu of net income taxes), by the jurisdiction or any political 

  

 4 

 
subdivision thereof under the laws of which such recipient is organized or in which its principal office is located or in which it is otherwise treated as
doing business (other than a jurisdiction or political subdivision in which the Lender or any other recipient would not have been treated as doing business but for and solely as a result of its having executed, delivered or performed its obligations
or received a payment under, or enforced, this Agreement or any Loan Document) or, in the in the case of the Lender, in which its applicable Lender’s office is located and (b) any United States withholding tax that is imposed on amounts
payable to the Lender at the time such Lender becomes a party hereto (or designates a new Lender’s Office) or any tax that is attributable to such Lender’s failure or inability (other than as a result of a change in law after the date such
Lender becomes a party hereto) to comply with Section 3.01(e); except to the extent that such Lender (or its assignor, if any) was entitled, at the time of the designation of a new Lender’s Office (or assignment) to receive
additional amounts from Borrower with respect to such withholding tax pursuant to Section 3.01(a). 
 “Existing Senior
Indebtedness” has the meaning specified in Section 9.01. 
 “Existing Senior Secured Credit
Agreement” means the Senior Secured Credit Agreement, dated as of July 12, 2007, among the Borrower, as the borrower, Credit Suisse, as the administrative agent and collateral agent, and the lenders party thereto. 
 “Existing Subordinated Term Loan Agreement” has the meaning specified in the preliminary statements hereto. 
 “Fundamental Change” means any transaction or event (whether by means of an exchange offer, liquidation, tender offer,
consolidation, merger, binding share exchange, combination, reclassification, recapitalization or otherwise) in connection with which all or substantially all of the Borrower’s common stock is exchanged for, converted into, acquired for or
constitutes solely the right to receive, consideration which is not all or substantially all common stock that: (a) is listed on, or immediately after the transaction or event will be listed on, a United States national securities exchange; or
(b) is approved, or immediately after the transaction or event will be approved, for quotation on any system of automated dissemination of quotations of securities prices. 
 “GAAP” means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the
Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be approved by a significant segment of the
accounting profession in the United States, that are applicable to the circumstances as of the date of determination, consistently applied. 
 “Governmental Authority” means the government of the United States or any other nation, or of any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body,
court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European
Central Bank). 
  

 5 

 “Guarantee” means, as to any Person, (a) any obligation, contingent or
otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness payable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any
obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness, (ii) to purchase or lease property, securities or services for the purpose of assuring the
obligee in respect of such Indebtedness of the payment of such Indebtedness, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as
to enable the primary obligor to pay such Indebtedness, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness of the payment thereof or to protect such obligee against loss in respect
thereof (in whole or in part), or (b) any Lien on any assets of such Person securing any Indebtedness of any other Person, whether or not such Indebtedness is assumed by such Person (or any right, contingent or otherwise, of any holder of such
Indebtedness to obtain any such Lien). The amount of any Guarantee at any time shall be deemed to be an amount then equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee
is made (or, if such Guarantee is limited by its terms to a lesser amount, such lesser amount) or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith;
provided that, in the case of any Guarantee of the type set forth in clause (b) above, if recourse to such Person for such Indebtedness is limited to the assets subject to such Lien, then such Guarantee shall be a Guarantee
hereunder solely to the extent of the lesser of (A) the amount of the Indebtedness secured by such Lien and (B) the value of the assets subject to such Lien. The term “Guarantee” as a verb has a corresponding
meaning. 
 “Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic
substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, toxic mold, polychlorinated biphenyls, radon gas, hazardous wastes and all other substances, wastes and materials that
are considered or deemed to be, or regulated as, hazardous or toxic under applicable Environmental Law. 
 “Indebtedness” means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP: 
 (a) all obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan
agreements or other similar instruments; 
 (b) the maximum amount of all direct or contingent obligations of such Person
arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments; 
 (c) net obligations of such Person on a marked-to-market basis under any Swap Contract; 
 (d)
all obligations of such Person to pay the deferred purchase price of property or services (other than trade accounts payable and other accrued expenses incurred in the ordinary course of business which are not outstanding for more than 75 days after
the same are billed or invoiced or 135 days after the same are created); 
  

 6 

 (e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned
or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements); provided that if such indebtedness shall not have been assumed by such Person and is otherwise non-recourse to
such Person, the amount of such obligation treated as Indebtedness shall not exceed the value of such property securing such obligations; 
 (f) all Attributable Indebtedness and all Off-Balance Sheet Liabilities; 
 (g) all
obligations of such Person to purchase, redeem, retire, defease or otherwise make any payment (other than any payment made solely with common Equity Interests or Qualified Preferred Equity Interests of such Person) in respect of (i) any Equity
Interests in such Person or any other Person or (ii) any warrants, rights or options to acquire such Equity Interests, in either case valued, in the case of redeemable preferred interests, at its liquidation preference plus accrued and
unpaid dividends; and 
 (h) all Guarantees of such Person in respect of any of the foregoing. 
 For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture (other than a
joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, except to the extent that such Indebtedness is expressly made non-recourse to such Person. The amount of any net
obligation under any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date. 
 “Indemnified Taxes” means Taxes other than Excluded Taxes. 
 “Indemnitee” has the
meaning specified in Section 10.04(b). 
 “Interest Payment Date” means (i) the last Business Day of
each March, June, September and December, commencing September 30, 2009, (ii) with respect to the Tranche A Term Loan, the Tranche A Maturity Date, and (iii) with respect to the Tranche B Term Loan, the Tranche B Maturity Date.

 “IP Rights” has the meaning specified in Section 5.17. 
 “IRS” means the United States Internal Revenue Service. 
 “ISDA Master Agreement” means the Master Agreement (Multicurrency-Cross Border) published by the International Swap and
Derivatives Association, Inc., as in effect from time to time. 
 “Laws” means, collectively, all international,
foreign, U.S. federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any 

  

 7 

 
Governmental Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed duties,
requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of law. 
 “Lender” has the meaning specified in the introductory paragraph hereto. 
 “Lender’s Office” means the Lender’s address or such other office or offices as the Lender may from time to time notify the Borrower. 
 “Letter Agreement” has the meaning specified in Section 4.01(a)(x). 
 “Lien” means any mortgage, deed of trust, deed to secure debt, pledge, hypothecation, collateral assignment, deposit arrangement,
encumbrance, lien (statutory or other) or charge or preference or priority over assets or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or
other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any financing lease having substantially the same economic effect as any of the foregoing). 
 “Loan Documents” means, collectively, (i) this Agreement, (ii) the Tranche A Term Note and (iii) the Tranche B
Term Note. 
 “Material Adverse Effect” means (a) the occurrence of an event or condition that has had, or would
reasonably be expected to have, a material adverse change in, or a material adverse effect upon, the business, assets, liabilities, operations, condition (financial or otherwise) or operating results of the Borrower and its Subsidiaries, taken as a
whole; or (b) a material impairment of the rights and remedies of the Lender under any Loan Document, or of the ability of the Borrower to perform its obligations under any Loan Document to which it is a party. 
 “Maximum Rate” has the meaning specified in Section 10.08. 
 “Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the
Borrower or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions. 
 “NPL” means the National Priorities List under CERCLA. 
 “Obligations” means all advances to, and debts, liabilities, obligations, covenants and duties of, the Borrower arising under any Loan Document or otherwise with respect to any of the Term Loans, whether direct or
indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue (or would accrue but for the commencement of a case under any Debtor
Relief Law) after the commencement by or against the Borrower or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed
claims in such proceeding. Without limiting the generality of the foregoing, the Obligations of the Borrower under the Loan 

  

 8 

 
Documents include (a) the obligation to pay principal, interest, charges, expenses, fees, premiums, attorneys’ fees and disbursements, indemnities,
settlement amounts and other termination payments and other amounts payable by the Borrower under any Loan Document and (b) the obligation of the Borrower to reimburse any amount in respect of any obligation described in clause
(a) that the Lender, in its sole discretion to the extent not expressly prohibited by the Loan Documents, may elect to pay or advance on behalf of the Borrower. 
 “OEM Agreement” means the Fourth Amended and Restated Embedded Software License and Distribution Agreement dated as of June 17, 2009, by and between EMC Corporation, a Massachusetts
corporation, and Borrower. 
 “Off-Balance Sheet Liabilities” means, with respect to any Person as of any date of
determination thereof, without duplication and to the extent not included as a liability on the consolidated balance sheet of such Person and its Subsidiaries in accordance with GAAP: (a) with respect to any asset securitization transaction
(including any accounts receivable purchase facility) (i) the unrecovered investment of purchasers or transferees of assets so transferred and (ii) any other payment, recourse, repurchase, hold harmless, indemnity or similar obligation of
such Person or any of its Subsidiaries in respect of assets transferred or payments made in respect thereof, other than limited recourse provisions that are customary for transactions of such type and that neither (A) have the effect of
limiting the loss or credit risk of such purchasers or transferees with respect to payment or performance by the obligors of the assets so transferred nor (B) impair the characterization of the transaction as a true sale under applicable Laws
(including Debtor Relief Laws); (b) the monetary obligations under any financing lease or so-called “synthetic,” tax retention or off-balance sheet lease transaction which, upon the application of any Debtor Relief Law to such Person
or any of its Subsidiaries, would be characterized as indebtedness; or (c) the monetary obligations under any sale and leaseback transaction which does not create a liability on the consolidated balance sheet of such Person and its
Subsidiaries. 
 “Organization Documents” means, (a) with respect to any corporation, the certificate or
articles of incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization
and operating agreement; and (c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any agreement, instrument,
filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles of formation
or organization of such entity. 
 “Other Taxes” means all present or future stamp or documentary taxes or any other
excise or property taxes (including any intangible or mortgage recording taxes), charges or similar levies arising from any payment made hereunder or under any other Loan Document or from the execution, delivery or enforcement of, or otherwise with
respect to, this Agreement or any other Loan Document. 
  

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 “Patriot Act” means the USA Patriot Act (Title III of Pub. L. 107-56 (signed into
law October 26, 2001)). 
 “Payment Blockage Notice” has the meaning specified in Section 9.02(a).

 “PBGC” means the Pension Benefit Guaranty Corporation. 
 “Pension Plan” means any “employee pension benefit plan” (as such term is defined in Section 3(2) of ERISA), other
than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by the Borrower or any ERISA Affiliate or to which the Borrower or any ERISA Affiliate contributes or has an obligation to contribute, or in the case of a
multiple employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five plan years. 
 “Person” means any natural person, corporation, limited liability company, trust (including a business trust), joint venture, association, company, partnership, Governmental Authority or other
entity. 
 “Plan” means any “employee benefit plan” (as such term is defined in Section 3(3) of ERISA)
established by the Borrower or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate. 
 “Qualified Preferred Equity Interests” means preferred Equity Interests that (a) have no mandatory redemption feature exercisable on a date earlier than (i) 180 days after the Tranche
A Scheduled Maturity Date, if Tranche A Term Loans are outstanding or (ii) 180 days after the Tranche B Scheduled Maturity Date, if no Tranche A Term Loans are outstanding , (b) have no requirements for the payment of dividends or other
distributions in cash on a date earlier than (i) 180 days after the Tranche A Scheduled Maturity Date, if Tranche A Term Loans are outstanding or (ii) 180 days after the Tranche B Scheduled Maturity Date, if no Tranche A Term Loans are
outstanding and (c) contain covenants, if any, no more restrictive than those customarily found in a high-yield debt offering. 
 “Refinancing” means any of the events described in clause (ii) of the definition of Tranche A Maturity Date or any of the events described in clause (ii) of the definition of Tranche B
Maturity Date or any combination of the foregoing. 
 “Register” has the meaning specified in
Section 10.06(c). 
 “Related Parties” means, with respect to any Person, such Person’s Affiliates
and the partners, members, directors, officers, employees, agents, trustees, attorneys and advisors of such Person and of such Person’s Affiliates and the successors and assigns of each such Person. 
 “Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30-day
notice period has been waived. 
 “Responsible Officer” means the chief executive officer, president, chief financial
officer, vice president of finance, treasurer, assistant treasurer, secretary or assistant secretary of the Borrower. Any document delivered hereunder that is signed by a Responsible Officer of the 

  

 10 

 
Borrower shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of the Borrower and
such Responsible Officer shall be conclusively presumed to have acted on behalf of the Borrower. 
 “SEC” means the
Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal functions. 
 “Secured
Obligations” has the meaning assigned to it in the Existing Senior Secured Credit Agreement. 
 “Senior Secured
Agent” means each agent, in such capacity, from time to time party to the Existing Senior Secured Credit Agreement. 
 “Senior Secured Lenders” means the lenders from time to time party to the Existing Senior Secured Credit Agreement. 
 “Senior Secured Exchange Loan” means senior secured term loans made by Lender (or Lenders) to Borrower to pay in full the Term Loans pursuant to the proviso to Section 2.04.

 “Senior Secured Exchange Notes” means the promissory note(s) of the Borrower payable to the Lender (or Lenders),
in substantially the form attached as exhibits to the Exchange Loan Agreement, evidencing the aggregate indebtedness of the Borrower to the Lender (or Lenders) resulting from the Senior Secured Exchange Loan, if any, made by the Lender (or Lenders).

 “Significant Subsidiary” has the meaning assigned to it under Rule 405 of the Securities Exchange Act of 1934.

 “Solvent” and “Solvency” mean, with respect to any Person on any date of determination,
that on such date (a) the fair value of the property of such Person is greater than the total amount of liabilities, including, without limitation, contingent liabilities, of such Person, (b) the present fair salable value of the assets of
such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will, incur debts or
liabilities beyond such Person’s ability to pay such debts and liabilities as they mature, (d) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s
property would constitute unreasonably small capital, and (e) such Person is able to pay its debts and liabilities as the same become due and payable. The amount of contingent liabilities at any time shall be computed as the amount that, in the
light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 
 “Subordinated Indenture” means the Borrower’s Indenture dated as of July 30, 2003, with U.S. Bank National Association, as Trustee, governing the Subordinated Notes. 
 “Subordinated Notes” has the meaning specified in the preliminary statements hereto. 
  

 11 

 “Subsidiary” of a Person means a corporation, partnership, limited liability
company or other business entity of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests having such power only by
reason of the happening of a contingency) are at the time beneficially owned, directly or indirectly, through one or more intermediaries, or both, by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to
“Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Borrower. 
 “Surviving Indebtedness”
means the Indebtedness of the Borrower and its Subsidiaries outstanding immediately before and after giving effect to the occurrence of the Closing Date (except for Indebtedness arising under the Existing Subordinated Term Loan Agreement) and
described in Schedule 5.05 hereto. 
 “Swap Contract” means (a) any and all rate swap transactions, basis
swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward
bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency
options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement,
and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of ISDA Master Agreement, including any such obligations or liabilities under any ISDA
Master Agreement. 
 “Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into
account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such
termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily
available quotations provided by any recognized dealer in such Swap Contracts (which may include the Lender). 
 “Synthetic Lease
Obligation” means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear
on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment). 
 “Tax Benefit” has the meaning specified in Section 3.01(f). 
 “Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings, assessments, fees or other charges
imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 
  

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 “Term Loan(s)” has the meaning specified in Section 2.01. 

“Tranche A Maturity Date” means the earliest to occur of (i) the Tranche A Scheduled Maturity Date, (ii) if there
shall have occurred (A) any replacement, refunding (but not including any repayment in full of the Secured Obligations as described in clause (iii) below) or refinancing of the Existing Senior Secured Credit Agreement or (B) any
amendment or restatement having the effect of any of the foregoing or entered into in connection with any transfer of a substantial portion of the commitments or loans under the Existing Senior Credit Agreement in one transaction or a series of
related transactions, the later of one day after such occurrence or August 1, 2010 or (iii) if the Secured Obligations shall have been paid in full, the later of one day after such payment in full or August 1, 2010. 
 “Tranche A Scheduled Maturity Date” means September 30, 2014. 
 “Tranche A Term Loan” has the meaning specified in Section 2.01. 
 “Tranche A Term Note” means a promissory note of the Borrower payable to the Lender, in substantially the form of Exhibit
C hereto, evidencing the aggregate indebtedness of the Borrower to the Lender resulting from the Tranche A Term Loan made by the Lender. 
 “Tranche B Maturity Date” means the earliest to occur of (i) the Tranche B Scheduled Maturity Date, (ii) if there shall have occurred (A) any replacement, refunding (but not including any repayment in
full of the Secured Obligations as described in clause (iii) below) or refinancing of the Existing Senior Secured Credit Agreement or (B) any amendment or restatement having the effect of any of the foregoing or entered into in connection
with any transfer of a substantial portion of the commitments or loans under the Existing Senior Credit Agreement in one transaction or a series of related transactions, the later of one day after such occurrence or August 1, 2010 or
(iii) if the Secured Obligations shall have been paid in full, the later of one day after such payment in full or August 1, 2010. 
 “Tranche B Scheduled Maturity Date” means December 31, 2011. 
 “Tranche B Term
Loan” has the meaning specified in Section 2.01. 
 “Tranche B Term Note” means a promissory
note of the Borrower payable to the Lender, in substantially the form of Exhibit D hereto, evidencing the aggregate indebtedness of the Borrower to the Lender resulting from the Tranche B Term Loan made by the Lender. 
 “Transaction” means, collectively, (a) the entering into the Loan Documents by the Borrower, (b) the refinancing in
full and cancellation of Subordinated Notes to be purchased by the Borrower concurrently with the funding of the Term Loans and (c) the payment of the fees and expenses incurred in connection with the consummation of the foregoing. 

“Unaccrued Indemnity Claims” means claims for indemnification that may be asserted by the Lender or any other Indemnitee under
the Loan Documents that are unaccrued and contingent and as to which no claim, notice or demand has been given to or made on the Borrower within five Business Days after the Borrower’s request therefor to the Lender (unless the making or giving
thereof is prohibited or enjoined by any applicable Law or any order of any 

  

 13 

 
Governmental Authority); provided that the failure of any Person to make or give any such claim, notice or demand or otherwise to respond to any such
request shall not be deemed to be a waiver and shall not otherwise affect any such claim for indemnification. 
 “United
States” and “U.S.” mean the United States of America. 
 “Warrant Agreement”
means the Purchase Agreement by and between Borrower and Lender, dated as of June 3, 2009, as amended. 
 1.02 Other Interpretive
Provisions. With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document: 
 (a) The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words
“include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and
effect as the word “shall.” Unless the context requires otherwise, (i) any definition of or reference to any agreement, instrument or other document (including any Organization Document and this Agreement) shall be construed as
referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein or in any other Loan Document),
(ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (iii) the words “herein,” “hereof” and “hereunder,” and words of similar
import when used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and not to any particular provision thereof, (iv) all references in a Loan Document to Articles, Sections, Exhibits, Preliminary
Statements, Recitals and Schedules shall be construed to refer to Articles and Sections of, and Exhibits, Preliminary Statements, Recitals and Schedules to, the Loan Document in which such references appear, (v) any reference to any law shall
include all statutory and regulatory provisions consolidating, amending replacing or interpreting such law and any reference to any law or regulation shall, unless otherwise specified, refer to such law or regulation as amended, modified or
supplemented from time to time, (vi) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including
cash, securities, accounts and contract rights, and (vii) any certification hereunder required to be given by a corporate officer shall be deemed to be made on behalf of the Borrower and not in the individual capacity of such officer.

 (b) In the computation of periods of time from a specified date to a later specified date, the word “from” means
“from and including”; the words “to” and “until” each mean “to but excluding”; and the word “through” means “to and including.” 
 (c) Section headings herein and in the other Loan Documents are included for convenience of reference only and shall not affect the interpretation of
this Agreement or any other Loan Document. 
 1.03 Accounting Terms All accounting terms not specifically or completely defined herein
shall be construed in conformity with, and all financial data (including financial 
  

 14 

 
ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP applied on a
consistent basis, as in effect from time to time, applied in a manner consistent with that used in preparing the Audited Financial Statements, except as otherwise specifically prescribed herein. 
 1.04 Times of Day. Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard, as
applicable). 
 ARTICLE II 
 THE TERM LOAN 
 2.01 The Term Loans. Subject to the terms and conditions set forth herein, on the Closing Date
the Lender agrees to make (i) a single draw Term Loan to the Borrower in an amount up to $24,582,380.79 (the “Tranche A Term Loan”) and (ii) a single draw Term Loan to the Borrower in an amount up to
$25,000,000.00 (the “Tranche B Term Loan,” each of the Tranche A Term Loan and the Tranche B Term Loan, a “Term Loan,” and together the “Term Loans”), which drawings
under the Tranche A Term Loan and Tranche B Term Loan must be made concurrently with each other. The Term Loans borrowed under this Article II and repaid or prepaid may not be reborrowed. 
 2.02 Term Loan Borrowing. (a) The Term Loans shall be made upon the Borrower’s notice to the Lender, which may be given by telephone.
Such notice must be received by the Lender not later than 2:00 p.m. three Business Days prior to the requested date of the Term Loans (or such shorter period as the Borrower and the Lender may agree). A telephonic notice by the Borrower pursuant to
this Section 2.02 must be confirmed promptly by delivery to the Lender of a written Borrowing Notice, appropriately completed and signed by a Responsible Officer of the Borrower. The Borrowing Notice (whether telephonic or written) shall
specify (i) the requested date of the Borrowing (which shall be a Business Day), (ii) the principal amount of each of the Tranche A Term Loan and Tranche B Term Loan to be borrowed and (iii) remittance instructions. The Borrower may
revoke the Borrowing Notice at any time on or prior to the Business Day immediately preceding the requested date of the Term Loans specified in such Borrowing Notice; provided that if the Borrower revokes the Borrowing Notice, then, in such
event, the Borrower shall compensate each Lender for the loss, cost and expense attributable to such event. A certificate of the Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant hereto shall be delivered to
the Borrower and shall be conclusive absent manifest error. The Borrower shall pay the Lender the amount shown as due on any such certificate within 10 days after receipt thereof. 
 (b) Following receipt of the Borrowing Notice and upon satisfaction of the applicable conditions set forth in Section 4.01, the Lender shall
make the Term Loans available to the Borrower in immediately available funds to an account designated by the Borrower in writing. 
 2.03
Prepayments; Mandatory Offer to Purchase. (a) Optional. To the extent not prohibited by the Existing Senior Secured Credit Agreement, the Borrower may, at its option and without premium or penalty, prepay the Term Loans upon
notice to the Lender in 
  

 15 

 
whole at any time or in part from time to time, plus all accrued and unpaid interest thereon; provided that such notice must be received by the Lender
not later than 2:00 p.m. one Business Day prior to any date of prepayment of the Term Loans. Such notice shall specify the date and amount of such prepayment (which shall be the total principal amount of the Term Loans outstanding on the date of
prepayment plus all accrued and unpaid interest thereon). The Borrower may revoke such notice at any time prior to the date specified therein. 
 (b) Mandatory. To the extent not prohibited by the Existing Senior Secured Credit Agreement, in the event that a Fundamental Change shall occur at any time prior to the Tranche A Maturity Date, Lender in its
sole discretion shall have the right to require the Borrower to prepay the Term Loans in whole or in part plus accrued and unpaid interest thereon. The Borrower shall deliver written notice of a Fundamental Change to the Lender by first-class mail
no later than 10 days after the occurrence of a Fundamental Change. Any prepayment under this Section 2.03(b) shall be due and payable on or before the 30th day after such written notice (or if such 30th day is not a Business Day, the next succeeding Business Day). 
 2.04 Repayment of Term Loans. The Borrower shall repay to the Lender the aggregate principal amount of the Tranche A Term Loan outstanding on the
Tranche A Maturity Date and the aggregate principal amount of the Tranche B Term Loan outstanding on the Tranche B Maturity Date; provided that if either the Tranche A Maturity Date or the Tranche B Maturity Date occurs prior to the Tranche A
Scheduled Maturity Date or the Tranche B Maturity Date, respectively, as a result of the Secured Obligations having been paid in full other than in connection with a Refinancing or an Acceleration and the conditions to issuance of the Senior Secured
Exchange Loan in Section 4.02 have been satisfied, the Borrower may, in lieu of repaying the Term Loans in Dollars, upon notice to the Lender at least ten (10) Business Day’s prior to the Tranche A Maturity Date, repay the Term
Loans (i) with proceeds from the Senior Secured Exchange Loan borrowed from the Lender in principal amount equal to the outstanding principal amount of the Tranche A Term Loan plus the outstanding principal amount of the Tranche B Term Loan,
which Senior Secured Exchange Loan shall be made pursuant to a loan agreement in substantially the form of Exhibit A (the “Exchange Loan Agreement”), and (ii) by paying to the Lender in cash all accrued and unpaid
interest, costs, fees, indemnities, expenses and other amounts payable to the Lender (other than principal but including fees, charges and disbursements of counsel to the Lender and amounts payable under Article III) at the time of repayment of the
Term Loans. 
 2.05 Interest. 
 (a) The Term Loans shall bear interest at 12% per annum. 
 (b)(i) If any Default or Event of Default has occurred and is
continuing, all amounts payable by the Borrower under any Loan Document which are not paid when due (subject to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, shall bear interest at the Default Rate.

 (ii) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.

  

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 (c) Interest on the Term Loans shall be due and payable in arrears on each Interest Payment Date
applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any
Debtor Relief Law. 
 2.06 Computation of Interest. All computations of interest shall be made on the basis of a year of 365 or 366
days, as the case may be, and actual days elapsed. Interest shall accrue for the day on which the Term Loans are made, and shall not accrue on a Term Loan, or any portion thereof, for the day on which such Term Loan or such portion is paid. Each
determination by the Lender of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error. 
 2.07
Evidence of Indebtedness. 
 (a) The Term Loans made by the Lender shall be evidenced by one or more accounts or records maintained by
the Lender in the ordinary course of business. The accounts or records maintained by the Lender shall be conclusive absent manifest error of the amount of the Term Loans made by the Lender to the Borrower and the interest and payments thereon. Any
failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. Lender may attach schedules to its Tranche A Term Note or
Tranche B Term Note and endorse thereon the date, amount and maturity of its Tranche A Term Loan or Tranche B Term Loan, as applicable, and payments with respect thereto. 
 (b) Entries made in good faith by the Lender in its account or accounts pursuant to Section 2.07(a), shall be prima facie evidence of the
amount of principal and interest due and payable or to become due and payable from the Borrower to the Lender, under this Agreement and the other Loan Documents, absent manifest error; provided that the failure of the Lender to make an entry, or any
finding that an entry is incorrect, in such account or accounts shall not limit or otherwise affect the obligations of the Borrower under this Agreement and the other Loan Documents. 
 2.08 Payments Generally; Application of Payments. 
 (a) All payments to be made by the Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff. All payments by the Borrower hereunder shall be made to the Lender at the
Lender’s Office in Dollars and in immediately available funds not later than 2:00 p.m. on the date specified herein, except as provided in the proviso to Section 2.04. 
 (b) Any payments to be made by the Borrower to the Lender shall be applied by the Lender in the following order: (A) first, to the payment of
outstanding fees, indemnities, expenses and other amounts (other than principal and interest but including fees, charges and disbursements of counsel to the Lender and amounts payable under Article III); (B) second, to the payment of unpaid
interest on the Term Loans to the extent such interest is past due on a pro rata basis (in accordance with the respective past due unpaid interest thereon); (C)

  

 17 

 
third, to the payment of unpaid interest then due on the Term Loans on a pro rata basis (in accordance with the respective unpaid interest thereon then due);
and (D) last, to the payment of unpaid principal of the Term Loans then due on a pro rata basis (in accordance with the respective outstanding principal amounts thereof then due); provided, however, that so long as no Event of
Default is outstanding, the Borrower may designate how voluntary prepayments of principal made by Borrower are applied as between the principal of the Tranche A Term Loan and the Tranche B Term Loan and, provided, further, that upon
the occurrence of an Event of Default and during the continuance thereof, the Lender may designate how payments of principal made by the Borrower are applied as between the Tranche A Term Loan and Tranche B Term Loan. 
 2.09 Amendments To Existing Subordinated Term Loan Agreement. On the Closing Date, and without any further actions by Borrower or Lender,
(a) the Existing Subordinated Term Loan Agreement shall be amended such that Exhibit A to the Existing Subordinated Term Loan Agreement is replaced in its entirety with Exhibit A to this Agreement (b) in the definition of
“Acceleration” in the Existing Subordinated Term Loan Agreement, the term “Existing Senior Secured Loan Agreement” in each place where it appears shall be replaced with the term “Existing Senior Secured Credit
Agreement” and (c) in clause (a) of the definition of “Qualified Preferred Equity Interests” in the Existing Subordinated Term Loan Agreement, the term “Maturity Date” shall be replaced with the term
“Scheduled Maturity Date. 
 ARTICLE III 
 TAXES 
 3.01 Taxes. 
 (a) Payments Free of Taxes. Any and all payments by or on account of any obligation of the Borrower hereunder or under any other Loan Document
shall be made free and clear of and without reduction or withholding for any Indemnified Taxes or Other Taxes; provided that if the Borrower shall be required by applicable law to deduct any Indemnified Taxes (including any Other Taxes) from such
payments, then (i) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 3.01), the Lender receives an amount
equal to the sum it would have received had no such deductions been made, (ii) the Borrower shall make such deductions and (iii) the Borrower shall timely pay the full amount deducted to the relevant Governmental Authority in accordance
with applicable law. 
 (b) Payment of Other Taxes by the Borrower. Without limiting the provisions of subsection (a) above, the
Borrower shall timely pay any Indemnified Taxes or Other Taxes to the relevant Governmental Authority in accordance with applicable law. 
 (c) Indemnification by the Borrower. The Borrower shall indemnify the Lender within 10 days after written demand therefor, for the full amount of any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes
imposed or asserted on or attributable to amounts payable under this Section 3.01) paid by the Lender and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such 

  

 18 

 
Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority; provided, however, that the Borrower
shall not be obligated to make any payment pursuant to this Section 3.01 to any Lender in respect of penalties and interest attributable to the gross negligence or willful misconduct of any Lender. A certificate as to the amount of such payment
or liability delivered to the Borrower by the Lender shall be conclusive absent manifest error. 
 (d) Evidence of Payments. As soon
as reasonably practicable after any payment of Indemnified Taxes or Other Taxes by the Borrower to a Governmental Authority, the Borrower shall deliver to the Lender the original or a certified copy of a receipt issued by such Governmental Authority
evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Lender. 
 (e) Status of Lender. The Lender, if entitled to an exemption from or reduction of withholding tax under the law of the jurisdiction in which the Borrower is resident for tax purposes, or any treaty to which such jurisdiction is a
party, with respect to payments hereunder or under any other Loan Document, shall deliver to the Borrower, at the time or times prescribed by applicable law and as are reasonably requested by the Borrower, such properly completed and executed
documentation prescribed by applicable law as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, the Lender, if requested by the Borrower, shall deliver such other documentation prescribed by
applicable law or reasonably requested by the Borrower as will enable the Borrower to determine whether or not the Lender is subject to backup withholding or information reporting requirements. 
 Without limiting the generality of the foregoing, in the event that the Borrower is resident for tax purposes in the United States, the Lender shall
deliver to the Borrower on or prior to the date on which the Lender becomes a Lender under this Agreement (and from time to time thereafter upon the request of the Borrower, but only if the Lender is legally entitled to do so), whichever of the
following is applicable: 
 (i) duly completed copies of Internal Revenue Service Form W-8BEN (or any successor form)
claiming eligibility for benefits of an income tax treaty to which the United States is a party, 
 (ii) duly completed
copies of Internal Revenue Service Form W-8ECI (or any successor form), 
 (iii) in the case of the Lender claiming the
benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate to the effect that the Lender is not (A) a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (B) a
“10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code and (y) duly completed
copies of Internal Revenue Service Form W-8BEN (or any successor form), 
  

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 (iv) duly completed copies of Internal Revenue Service Form W-8IMY (or any successor
form thereto), together with any information that is required by the Code and Treasury regulations promulgated thereunder and any additional information that the Lender chooses to transmit with such form, and any other certificate or statement of
exemption required under the Code, or 
 (v) any other form prescribed by applicable law as a basis for claiming exemption
from or a reduction in United States federal withholding tax duly completed together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower to determine the withholding or deduction required to be made.

 (f) Treatment of Certain Refunds. If the Lender determines, in its sole discretion, that it has received a refund or reduction of, or
credit against, its liability for any Taxes or Other Taxes (other than a foreign tax credit) as to which it has been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this
Section 3.01 (each a “Tax Benefit”), it shall pay to the Borrower an amount equal to such Tax Benefit (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this
Section 3.01 with respect to the Indemnified Taxes or Other Taxes giving rise to such Tax Benefit), net of all out-of-pocket expenses of the Lender, and withholding at any amounts as required under applicable Law and without interest
(other than any interest paid by the relevant Governmental Authority with respect to such Tax Benefit); provided that the Borrower, upon the request of the Lender, agrees to repay the amount paid over to the Borrower (plus any penalties, interest or
other charges imposed by the relevant Governmental Authority) to the Lender in the event the Lender is required to repay such Tax Benefit to such Governmental Authority. This subsection (f) shall not be construed to require the Lender to file
its returns in a particular manner or to make available its tax returns (or any other information relating to its taxes that it deems confidential) to the Borrower or any other Person. 
 (g) Tax Contests. If the Borrower determines in good faith that a reasonable basis exists for contesting any Indemnified Taxes or Other Taxes with
respect to which the Borrower has paid any additional amounts to Lender or for which indemnification has been demanded hereunder, the Lender shall reasonably cooperate with the Borrower in challenging such Indemnified Taxes or Other Taxes at the
Borrower’s expense if so requested by the Borrower in writing, unless the Lender reasonably determines in good faith that doing so would be disadvantageous to it. 
 3.02 Survival. This Article III shall survive repayment of all other Obligations hereunder. 
  

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 ARTICLE IV 
 CONDITIONS PRECEDENT 
 4.01 Conditions to Effectiveness of this Agreement. The
obligation of the Lender to make the Term Loans hereunder is subject to satisfaction, or waiver in accordance with Section 10.01, of the following conditions precedent: 
 (a) The Lender shall have received each of the following, each of which shall be originals or telecopies (followed promptly by originals), each dated
the Closing Date (or, in the case of certificates of governmental officials, a recent date before the Closing Date), each in form and substance satisfactory to the Lender and in such number of originals or copies as may be requested by the Lender:

 (i) duly executed counterparts of this Agreement; 
 (ii) a Tranche A Term Note duly executed by the Borrower in favor of the Lender, if requested by the Lender; 
 (iii) a Tranche B Term Note duly executed by the Borrower in favor of the Lender, if requested by the Lender; 
 (iv) such duly executed certificates of resolutions or consents, incumbency certificates and/or other duly executed certificates of
Responsible Officers of the Borrower as the Lender may reasonably require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Agreement and the other
Loan Documents to which the Borrower is a party or is to be a party; 
 (v) such documents and duly executed certifications
as the Lender may reasonably require to evidence that the Borrower is duly organized, and that the Borrower is validly existing, in good standing and qualified to engage in business in its jurisdiction of incorporation and each other jurisdiction in
which it conducts business, except where the failure to be so qualified could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; 
 (vi) a favorable opinion of Latham & Watkins LLP, counsel to the Borrower, addressed to the Lender, in substantially the form of
Exhibit G; 
 (vii) a certificate of the chief executive officer, chief financial officer or an executive vice
president of the Borrower either (A) attaching copies of all governmental, shareholder and third-party consents, licenses and approvals required in connection with the execution, delivery and performance by the Borrower of the Loan Documents,
and such governmental, shareholder and third-party consents, licenses and approvals shall be in full force and effect, or (B) stating that no such governmental, shareholder or third-party consents, licenses or approvals are so required;

 (viii) a certificate signed by the chief executive officer, chief financial officer or an executive vice president of the
Borrower certifying (A) that the conditions specified in Sections 4.01(h) and (i) have been satisfied and (B) that since March 31, 2008 no Material Adverse Effect has occurred; 
  

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 (ix) a certificate attesting to the Solvency of the Borrower, individually and together
with its Subsidiaries, before and after giving effect to the Transaction (including the Term Loans made or to be made and other obligations incurred or to be incurred on the Closing Date), from the chief executive officer, chief financial officer or
an executive vice president of the Borrower, substantially in the form of Exhibit E hereto; 
 (x) duly executed
counterparts of the letter agreement by and between Borrower and Lender substantially in the form of Exhibit F hereto, dated as of the date hereof (the “Letter Agreement”), by which the Borrower and Lender agree
(A) to mutually terminate the Commitment Letter dated June 3, 2009 between the Borrower and Lender and the Commitment Letter dated June 17, 2009 between the Borrower and Lender concurrently with the funding of the Term Loans and
(B) that the Lender will have no obligations to make any loans under such Commitment Letters from the date of this Agreement through the earlier of the termination of this Agreement pursuant to its terms and date of the funding of the Term
Loans. 
 (xi) a certified copy of the agreement between the Borrower and Tennenbaum Multi-Strategy Master Fund, a Cayman
Islands partnership trust, for the purchase by the Borrower of Subordinated Notes, together with all agreements, instruments and other documents delivered in connection therewith as the Lender shall request; and 
 (xii) such other assurances, certificates, documents, information or consents as the Lender may reasonably require. 
 (b) [Reserved]; 
 (c) The Closing Date
shall have occurred prior to January 31, 2010. 
 (d) [Reserved]; 
 (e) All governmental, shareholder and third-party approvals and consents which the Lender determines in its discretion to be necessary, desirable or
advisable, in connection with the Transactions or the other transactions contemplated hereby shall have been received on terms and in a form satisfactory to the Lender and shall be in full force and effect, and all applicable waiting periods shall
have expired without any action being taken by any applicable authority. 
 (f) There shall not exist any action, suit, investigation,
litigation or proceeding pending or threatened in any court or before any arbitrator or Governmental Authority (i) challenging or seeking damages or other relief in connection with any of the Transactions or the other transactions contemplated
hereby, (ii) seeking to enjoin or prevent any of the Transactions or the other transactions contemplated hereby, (iii) that, in the opinion of the Lender, would otherwise materially and adversely affect any of the Transactions or the other
transactions contemplated hereby or (iv) that has or could have a Material Adverse Effect on the Borrower or its Subsidiaries or any of the Transactions or the other transactions contemplated hereby. 
  

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 (g) The Lender shall have received, at least five Business Days prior to the Closing Date, all
documentation and other information required by regulatory authorities under applicable “know your customer” and anti money laundering rules and regulations, including without limitation the Patriot Act. 
 (h) The representations, warranties and certifications of or on behalf of the Borrower contained in Article V or any other Loan Document, or
which are contained in any certificate or other document furnished at any time under or in connection herewith or therewith, shall be true and correct on and as of the Closing Date (in each case both before and after giving effect thereto), except
to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 4.01, the representations
and warranties contained in Sections 5.05(a) and (b) shall be deemed to refer to the most recent statements furnished pursuant to Sections 6.01(a) or (b). 
 (i) No Default or Event of Default has occurred and is continuing, or would result from the making of either Term Loan or from the application of the
proceeds therefrom. 
 (j) The OEM Agreement shall remain in full force and effect. 
 (k) The Warrant Agreement shall remain in full force and effect. 
 (l) The Letter Agreement shall remain in full force and effect. 
 (m) The Lender shall have received a
Borrowing Notice upon not less than three Business Days prior written notice of the Closing Date. 
 (n) The Lender shall have received such
other approvals, opinions or documents as the Lender may reasonably request. 
 4.02 Conditions to Acceptance of Exchange Loan. The
right of the Borrower to repay the Term Loans by entering into the Senior Secured Exchange Loan and the obligation of the Lender to accept the Senior Secured Exchange Loan as payment for the Term Loans pursuant to Section 2.04 is subject
to the satisfaction of the following conditions precedent: 
 (a) The Borrower shall have provided to the Lender evidence acceptable to
Lender of the payment in full of the Secured Obligations other than in connection with a Refinancing or Acceleration. 
 (b) The Lender
shall have received each of the following, each of which shall be originals or telecopies (followed promptly by originals), each dated the date the Exchange Loan Agreement becomes effective (the “Exchange Loan Closing Date”)
(or, in the case of certificates of governmental officials, a recent date before the Exchange Loan Closing Date), each in form and substance satisfactory to the Lender and in such number of originals or copies as may be requested by the Lender:

 (i) duly executed counterparts of the Exchange Loan Agreement; 
  

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 (ii) the Senior Secured Exchange Notes duly executed by the Borrower in favor of the
each Lender, if requested by such Lender; 
 (iii) the Exchange Loan Collateral Documents, duly executed by the Borrower,
together with: 
 (A) certificates representing the pledged interests (to the extent represented by certificates or
instruments) referred to therein accompanied by undated stock powers executed in blank and instruments evidencing the pledged debt (to the extent required thereby to be evidenced by an instrument) endorsed in blank, 
 (B) financing statements in proper form for filing under the Uniform Commercial Code of all jurisdictions that the Lender may reasonably
deem necessary or desirable in order to perfect and protect the first priority liens and security interests created under the applicable Exchange Loan Collateral Documents, covering the collateral described therein, 
 (C) completed requests for information (the results of which shall be satisfactory to the Lender), dated on or before the Exchange Loan
Closing Date, listing all effective financing statements filed in the jurisdictions referred to in clause (B) above that name the Borrower as debtor, together with copies of such other financing statements, and 
 (D) evidence of the completion of all other actions, recordings and filings of or with respect to the Exchange Loan Collateral Documents
that the Lender may reasonably deem necessary or desirable in order to perfect and protect the liens and security interests created thereby (including, without limitation, receipt of duly executed payoff letters, UCC-3 termination statements) and
that all filing and recording taxes and fees (if any) have been paid; 
 (iv) such duly executed certificates of resolutions
or consents, incumbency certificates and/or other duly executed certificates of Responsible Officers of the Borrower as the Lender may reasonably require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized
to act as a Responsible Officer in connection with the Exchange Loan Agreement and the other documents entered into in connection with the Exchange Loan Agreement to which the Borrower is a party or is to be a party; 
  

 24 

 (v) such documents and duly executed certifications as the Lender may reasonably require
to evidence that the Borrower is duly organized, and that the Borrower is validly existing, in good standing and qualified to engage in business in its jurisdiction of incorporation and each other jurisdiction in which it conducts business, except
where the failure to be so qualified could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; 
 (vi) a favorable opinion of Latham & Watkins LLP, or other counsel to the Borrower reasonably acceptable to the Lender, addressed to the Lender, containing opinions (in substantially the form of Exhibit
H), assumptions, qualifications and other provisions, acceptable to Lender; 
 (vii) a certificate of the chief executive
officer, chief financial officer or an executive vice president of the Borrower either (A) attaching copies of all governmental, shareholder and third-party consents, licenses and approvals required in connection with the execution, delivery
and performance by the Borrower and the validity against the Borrower of the Exchange Loan Documents to which it is a party, and such governmental, shareholder and third-party consents, licenses and approvals shall be in full force and effect or
(B) stating that no such governmental, shareholder or third-party consents, licenses or approvals are so required; and 
 (viii) a certificate signed by the chief executive officer, chief financial officer or an executive vice president of the Borrower certifying that the conditions specified in Sections 4.02 (e) and (f) have been
satisfied; 
 (c) All governmental, shareholder and third-party approvals and consents which the Lender determines in its discretion to be
necessary, desirable or advisable, in connection with the transactions contemplated by the Exchange Loan Agreement shall have been received on terms and in a form satisfactory to the Lender and shall be in full force and effect, and all applicable
waiting periods shall have expired without any action being taken by any applicable authority. 
 (d) There shall not exist any action,
suit, investigation, litigation or proceeding pending or threatened in any court or before any arbitrator or Governmental Authority (i) challenging or seeking damages or other relief in connection with any of the transactions contemplated by
the Exchange Loan Agreement or (ii) seeking to enjoin or prevent any of the transactions contemplated by the Exchange Loan Agreement. 
 (e) The representations, warranties and certifications of or on behalf of the Borrower contained in the Exchange Loan Agreement and any other Exchange Loan Document, or which are contained in any certificate or other document furnished at
any time under or in connection herewith or therewith, shall be true and correct on and as of the Exchange 

  

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Loan Closing Date (in each case both before and after giving effect thereto), except to the extent that such representations and warranties specifically
refer to an earlier date, in which case they shall be true and correct as of such earlier date. 
 (f) Immediately prior to the Exchange
Loan Closing Date, no Default or Event of Default has occurred and is continuing under this Agreement. 
 (g) The Lender shall have received
a borrowing notice pursuant to Section 2.04. 
 (h) The Lender shall have received such other assurances, certificates,
documents, information or consents as the Lender may reasonably require. 
 ARTICLE V 
 REPRESENTATIONS AND WARRANTIES 
 The Borrower represents and warrants to the Lender that: 
 5.01 Existence; Qualification and Power; Compliance with Laws.
The Borrower and each of its Subsidiaries (a) is duly organized or formed, validly existing and in good standing under the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite corporate, partnership or
limited liability company power and authority and all requisite governmental licenses, authorizations, consents and approvals to (i) own or lease its assets and carry on its business, except to the extent that failure to do so would not
reasonably be expected to have a Material Adverse Effect, and (ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party, (c) is duly qualified and is licensed and in good standing under the Laws of
each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification or license, except to the extent that failure to do so would not reasonably be expected to have a Material Adverse
Effect, and (d) is in compliance with the requirements of (i) the Patriot Act and all other Laws and regulations relating to money laundering and terrorist activities and (ii) all other Laws and all orders, writs, injunctions and
decrees applicable to it or to its properties except, in the case of this clause (ii), in such instances in which (A) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate
proceedings diligently conducted or (B) the failure to comply therewith, either individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. 
 5.02 Authorization; No Contravention. The execution, delivery and performance by the Borrower of each Loan Document to which it is a party, and
the consummation of the Transaction, are within the Borrower’s corporate, partnership or limited liability company or other powers, have been duly authorized by all necessary corporate or other organizational action, and do not and will not
(a) contravene the terms of the Borrower’s Organization Documents; (b) conflict with or result in any breach or contravention of the terms of the Existing Senior Secured Credit Agreement, the Existing Subordinated Term Loan Agreement,
or any document enter into in connection therewith; (c) conflict with or result in any breach or contravention of, or the creation of any Lien under, or require any payment to be made 

  

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under (i) any Contractual Obligation to which the Borrower is a party or affecting the Borrower or the properties of the Borrower or any of its
Subsidiaries or (ii) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which the Borrower or its property is subject; or (c) violate any Law. Neither the Borrower nor or any of its Subsidiaries is
in violation of any Law or in breach of any such Contractual Obligation, the violation or breach of which could be reasonably likely to have a Material Adverse Effect. 
 5.03 Governmental Authorization; Other Consents. No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or
required in connection with (a) the execution, delivery or performance by, or enforcement against, the Borrower of this Agreement, any other Loan Document, or for the consummation of the Transaction, (b) the exercise by the Lender of its
rights under the Loan Documents, except for authorizations, approvals, actions, notices and filings that have been (or contemporaneously herewith will be) duly obtained, taken, given or made and are (or, upon obtaining, taking, giving or making any
such authorization, approval, action, notice or filing, will be) in full force and effect and, in the case of any authorizations, approvals, actions, notices or filings by, to or with any Governmental Authority, are listed on Schedule 5.03
hereto. 
 5.04 Binding Effect. This Agreement has been, and each other Loan Document, when delivered hereunder, will have been, duly
executed and delivered by the Borrower. This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms,
subject as to enforceability to the effect of applicable bankruptcy, insolvency, reorganization, receivership, moratorium and other similar laws relating to or affecting creditor’s rights generally, and the effect of general principles of
equity, whether applied by a court of law or equity. 
 5.05 Financial Statements; No Material Adverse Effect. 
 (a) The Audited Financial Statements, and each of the annual financial statements delivered pursuant to Section 6.01(a), (i) were
prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein, (ii) fairly present in all material respects the financial condition of the Borrower and its Subsidiaries
as of the date thereof and their results of operations for the period covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, and (iii) show all material indebtedness and other liabilities, direct or
contingent, of the Borrower and its Subsidiaries as of the date thereof, including liabilities for taxes, material commitments and Indebtedness, to the extent required by GAAP to be shown therein. 
 (b) The most recent monthly unaudited consolidated financial statements of the Borrower and its Subsidiaries delivered to the Lender on or before the
Closing Date, and the most recent quarterly unaudited consolidated financial statements of the Borrower and its Subsidiaries, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal
quarter, (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, (ii) fairly present in all material respects the financial condition of the Borrower and its Subsidiaries as of the date 

  

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thereof and their results of operations for the period covered thereby, and (iii) show all material indebtedness and other liabilities, direct or
contingent, of the Borrower and its Subsidiaries as of the date thereof, including liabilities for taxes, material commitments and Indebtedness, to the extent required by GAAP to be shown therein, subject, in the case of clauses (i) and (ii),
to the absence of footnote disclosures and to normal year-end adjustments. 
 (c) As of the Closing Date, (i) part (a) of
Schedule 5.05 sets forth all Surviving Indebtedness of the Borrower and its Subsidiaries, and (ii) part (b) of Schedule 5.05 sets forth all other material liabilities (except for liabilities arising under the Existing
Subordinated Term Loan Agreement), direct or contingent, of the Borrower and its consolidated Subsidiaries as of the Closing Date, including liabilities for taxes and material commitments, to the extent not included in the financial statements
delivered to the Lender on or before the Closing Date. 
 (d) Since March 31, 2008 there has been no event or circumstance, either
individually or in the aggregate, that has had or would reasonably be expected to have a Material Adverse Effect. 
 5.06 Litigation.
There are no actions, suits, proceedings, claims, disputes or investigations pending or, to the knowledge of the Borrower after due and diligent investigation, threatened or contemplated, at law, in equity, in arbitration or before any Governmental
Authority, by or against the Borrower or any of its Subsidiaries or against any of their properties or revenues that (a) purport to affect or pertain to this Agreement, any other Loan Document or the consummation of the Transaction, or
(b) either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 
 5.07 No Default.
Neither the Borrower nor any of its Subsidiaries is in default under or with respect to, or a party to, any Contractual Obligation that could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. No
Default has occurred and is continuing or would result from the consummation of the transactions contemplated by this Agreement or any other Loan Document. 
 5.08 Ownership of Property; Liens; Investments. 
 (a) The Borrower and each of its Subsidiaries has
good record and legal title in fee simple to, or valid leasehold interests in, all real property necessary to the conduct of its business, except for such defects in title as would not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect. 
 (b) The property of the Borrower and its Subsidiaries is not subject to any Liens, other than Liens set
forth on Schedule 5.08(b), or Liens of the type permitted by Section 7.01 of the Exchange Loan Agreement attached as Exhibit A. 
 5.09 Environmental Compliance. 
 (a) The Borrower is, and for the past three years has been, in
compliance with the requirements of existing Environmental Laws, except in such instances where the failure to comply therewith, either individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. 

 

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 (b) Except as otherwise may be set forth on Schedule 5.09 or as would not reasonably be expected
to have a Material Adverse Effect: (i) none of the properties currently or formerly owned or operated by the Borrower or any of its Subsidiaries is listed or, to the knowledge of the Borrower, proposed for listing on the NPL or on the CERCLIS
or any analogous foreign, state or local list; (ii) there are no underground or aboveground storage tanks or any surface impoundments, septic tanks, pits, sumps or lagoons in which Hazardous Materials are being or have been treated, stored or
disposed on any property currently owned or operated by the Borrower or any of its Subsidiaries or on any property formerly owned or operated by the Borrower or any of its Subsidiaries; (iii) there is no asbestos or asbestos-containing material
on any property currently owned or operated by the Borrower or any of its Subsidiaries; and (iv) Hazardous Materials have not been released, discharged or disposed of on any property currently or formerly owned or operated by the Borrower or
any of its Subsidiaries (as to formerly owned property, only during such ownership or operation). 
 (c) Except as otherwise may be set
forth on Schedule 5.09 or as would not reasonably be expected to have a Material Adverse Effect, neither the Borrower nor any of its Subsidiaries is undertaking, and has not completed, either individually or together with other potentially
responsible parties, any investigation or assessment or remedial or response action relating to any actual or threatened release, discharge or disposal of Hazardous Materials at any site, location or operation, either voluntarily or pursuant to the
order of any Governmental Authority or the requirements of any Environmental Law; and all Hazardous Materials generated, used, treated, handled or stored at, or transported to or from, any property currently or formerly owned or operated by the
Borrower or any of its Subsidiaries (as to formerly owned property, only during such ownership or operation) have been disposed of in a manner not reasonably expected to result in material liability to the Borrower or any of its Subsidiaries.

 5.10 Insurance. The properties of the Borrower and its Subsidiaries are insured with financially sound and reputable insurance
companies not Affiliates of the Borrower, in such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where the Borrower or the
applicable Subsidiary operates. 
 5.11 Taxes. The Borrower and its Subsidiaries have filed all U.S. federal, state, local and
non-U.S. income Tax returns and reports and all other material Tax returns required to be filed, and have paid all U.S. federal, state, local, non-U.S. and other material Taxes, assessments, fees and other governmental charges levied or imposed upon
them or their properties, income or assets otherwise due and payable, except those which are being contested in good faith by appropriate proceedings diligently conducted or for which an extension has been granted and, in each case, for which
adequate reserves have been provided in accordance with GAAP. There is no proposed tax assessment against the Borrower or any Subsidiary that would, if made, have a Material Adverse Effect. Except as otherwise may be set forth on Schedule
5.11, neither the Borrower nor any of its Subsidiaries is party to any tax sharing agreement. 
  

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 5.12 Labor Matters. Neither the Borrower nor any of its Subsidiaries is engaged in any unfair
labor practice that could reasonably be expected to have a Material Adverse Effect. There is (a) no unfair labor practice complaint pending against the Borrower or any of its Subsidiaries, or to the knowledge of the Borrower, threatened against
any of them before the National Labor Relations Board and no grievance or arbitration proceeding arising out of or under any collective bargaining agreement that is so pending against the Borrower or any of its Subsidiaries or, to the knowledge of
the Borrower, threatened against any of them, (b) no strike or work stoppage in existence or threatened involving the Borrower or any of its Subsidiaries and (c) to the knowledge of the Borrower, no union representation question existing
with respect to the employees of the Borrower or any of its Subsidiaries and, to the knowledge of the Borrower, no union organization activity that is taking place, except (with respect to any matter specified in clause (a), (b) or
(c) above, either individually or in the aggregate) such as is not reasonably likely to have a Material Adverse Effect. 
 5.13 ERISA
Compliance; Employee Benefit Plans. 
 (a) Each Plan is in compliance in all material respects with the applicable provisions of ERISA,
the Code and other U.S. federal or state Laws. Each Plan that is intended to qualify under Section 401(a) of the Code has received a favorable determination letter from the IRS or an application for such a letter is currently being processed by
the IRS with respect thereto and, to the knowledge of the Borrower, nothing has occurred which would be reasonably expected to prevent, or cause the loss of, such qualification. The Borrower and each ERISA Affiliate have made all required
contributions to each Plan subject to Section 412 of the Code, and no Pension Plan has any “unfunded benefit liabilities” (as defined in Section 4001(a)(18) of ERISA). 
 (b) There are no pending or, to the knowledge of the Borrower, threatened claims, actions or lawsuits, or action by any Governmental Authority, with
respect to any Plan that either individually or in the aggregate could be reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction or violation of the fiduciary responsibility rules with respect to any Plan
that either individually or in the aggregate has resulted or could reasonably be expected to result in a Material Adverse Effect. Neither Borrower nor any ERISA Affiliate has engaged in a transaction that could be subject to Section 4069 or
4212(c) of ERISA. 
 (c)(i) No ERISA Event has occurred or is reasonably expected to occur; (ii) no Pension Plan has an
“accumulated funding deficiency” (as defined in Section 412 of the Code), whether or not waived, and no application for a waiver of the minimum funding standard has been filed with respect to any Pension Plan; (iii) neither the
Borrower nor, to the knowledge of the Borrower, any ERISA Affiliate has incurred, or reasonably expects to incur, any liability under Title IV of ERISA with respect to any Pension Plan (other than premiums due and not delinquent under
Section 4007 of ERISA); (iv) neither the Borrower nor, to the knowledge of the Borrower, any ERISA Affiliate has incurred, or reasonably expects to incur, any liability (and no event has occurred which, with the giving of notice under
Section 4219 of ERISA, would result in such liability) under Section 4201 or 4243 of ERISA with respect to a Multiemployer Plan; and (v) neither the Borrower nor, to the knowledge of the Borrower, any ERISA Affiliate has engaged in a
transaction with respect to a Plan that could reasonably be expected to result in a 

  

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liability to the Borrower, where, in the case of any of the events set forth in clauses (i) through (v) above, the occurrence of such events would,
individually or in the aggregate, reasonably be expected to result in a liability in excess of $15,000,000. 
 (d) Each of the Borrower and
its Subsidiaries is in compliance (i) with all applicable provisions of law and all applicable regulations and published interpretations thereunder with respect to any employee pension benefit plan or other employee benefit plan governed by the
laws of a jurisdiction other than the United States and (ii) with the terms of any such plan, except, in each case, for such noncompliance that would not reasonably be expected either individually or in the aggregate to have a Material Adverse
Effect. 
 5.14 Subsidiaries; Equity Interests; Loan Parties. The Borrower has no Subsidiaries other than those specifically disclosed
in part (a) of Schedule 5.14, and all of the outstanding Equity Interests in such Subsidiaries have been validly issued, are fully paid and non-assessable and are owned by the Persons and in the amounts specified on part
(a) of Schedule 5.14 free and clear of all Liens except those created under the security and collateral documents entered into in connection with the Existing Senior Secured Credit Agreement. The Borrower has no Equity Interests or
other equity investments in any other corporation or entity other than those specifically disclosed in part (b) of Schedule 5.14. All of the outstanding Equity Interests in the Borrower have been validly issued, are fully paid and
non-assessable and are described on part (c) of Schedule 5.14. Part (d) of Schedule 5.14 lists the address of its principal place of business of the Borrower and its U.S. taxpayer identification number. As of
the Closing Date, the copy of the charter of the Borrower and each amendment thereto provided pursuant to Section 4.01(a)(v) is a true and correct copy of each such document, each of which is valid and in full force and effect.

 5.15 Margin Regulations; Investment Company Act. 
 (a) The Borrower is not engaged and will not engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the Board of
Governors of the Federal Reserve System of the United States), or extending credit for the purpose of purchasing or carrying margin stock and no proceeds of the Term Loans will be used to purchase or carry any margin stock (other than to repurchase
Subordinated Notes) or to extend credit to others for the purpose of purchasing or carrying any margin stock. 
 (b) Neither the Borrower,
nor any Subsidiary of the Borrower, is or is required to be registered as an “investment company” under the Investment Company Act of 1940. Neither the making of the Term Loans nor the application of the proceeds or repayment thereof by
the Borrower, nor the consummation of the other transactions contemplated by the Loan Documents, will violate any provision of the Investment Company Act of 1940 or any rule, regulation or order of the SEC thereunder. 
 5.16 Disclosure. The Borrower has disclosed to the Lender all agreements, instruments and corporate or other restrictions to which it or any of
its Subsidiaries is subject, and all other matters known to it, that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect. No report, financial statement, certificate or 

  

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other written information furnished by or on behalf of the Borrower to the Lender in connection with the transactions contemplated hereby and the negotiation
of this Agreement or delivered hereunder or under any other Loan Document (in each case as modified or supplemented by other information so furnished) (together with the Borrower’s Form 10-Q for the quarter ended December 31, 2008, Form
10-K for the fiscal years ended March 31, 2007 and March 31, 2008 and all reports on Form 8-K filed by the Borrower since March 31, 2008 with the SEC) contains any material misstatement of fact or omits to state any material fact
necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that, with respect to projected financial information, the Borrower represents only that such information was
prepared in good faith based upon assumptions believed to be reasonable at the time; it being understood and agreed that (a) any financial or business projections furnished by the Borrower are subject to significant uncertainties and
contingencies, which may be beyond the control of the Borrower, (b) no assurance is given by the Borrower that the results or forecast in any such projections will be realized and (c) the actual results may differ from the forecast results
set forth in such projections and such differences may be material. 
 5.17 Intellectual Property; Licenses, Etc. Except as set forth
on Schedule 5.17, the Borrower and its Subsidiaries own, or possess the right to use, all of the material trademarks, service marks, trade names, copyrights, and, to the knowledge of the Borrower, patents and other intellectual property
rights (collectively, “IP Rights”) that are reasonably necessary for the operation of their respective businesses. Except as set forth on Schedule 5.17, to the knowledge of the Borrower, the foregoing IP Rights, are
without infringement, dilution or misappropriation with the rights of any other Person. Except as set forth on Schedule 5.17, to the knowledge of the Borrower, no slogan or other advertising device, product, process, method, substance, part
or other material employed by the Borrower or any Subsidiary infringes, dilutes or misappropriates upon any rights held by any other Person. No claim or litigation regarding any of the foregoing is pending or, to the knowledge of the Borrower,
threatened, which, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 
 5.18
Solvency. The Borrower is, individually and together with its Subsidiaries, Solvent. 
 5.19 Casualty, Etc. Neither the
business nor the properties of the Borrower or any of its Subsidiaries are affected by any fire, explosion, accident, strike, lockout or other labor dispute, drought, storm, hail, earthquake, embargo, act of God or of the public enemy or other
casualty (whether or not covered by insurance) that could be reasonably likely to have a Material Adverse Effect. 
 5.20 Permitted
Refinancing Indebtedness. The Term Loans constitute Permitted Refinancing Indebtedness (as defined in the Existing Senior Secured Credit Agreement). The repurchase of the Subordinated Notes pursuant to the transactions contemplated hereby with
the proceeds of the Term Loans is permitted under the Existing Senior Secured Credit Agreement. 
 5.21 Senior Subordinated
Indebtedness. The Obligations constitute senior subordinated indebtedness of the Borrower, junior to the “Obligations” under the Existing Senior Secured Credit Agreement, pari-passu with all subordinated Indebtedness of the Borrower
under 

  

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the Existing Subordinated Term Loan Agreement and senior to all other Indebtedness of the Borrower. The Obligations do not constitute “Designated Senior
Indebtedness” (or any comparable term) with respect to any subordinated Indebtedness of the Borrower. 
 ARTICLE VI 
 AFFIRMATIVE COVENANTS 
 So long
as a Term Loan or other Obligation hereunder (other than Unaccrued Indemnity Claims) remains unpaid or unsatisfied, the Borrower shall: 
 6.01 Financial Statements. Deliver to the Lender: 
 (a) within 15 days after it files them with the SEC copies of the annual
and quarterly reports, information, documents and other reports which the Borrower is required to file with the SEC pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (it being understood that the filing thereof with the SEC
shall constitute delivery thereof to the Lender); provided, however, the Borrower shall not be required to deliver to the Lender any materials for which the Borrower has sought and received confidential treatment by the SEC; and

 (b) in the event the Borrower is at any time no longer subject to the reporting requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, reports containing substantially the same information as would have been required to be filed with the SEC had the Borrower continued to have been subject to such reporting requirements and such reports shall be
provided at the times the Borrower would have been required to provide reports had it continued to have been subject to such reporting requirements. 
 6.02 Notices. Deliver to Lender within 120 days after the end of each fiscal year of the Borrower, an officer’s certificate signed by two Responsible Officers of the Borrower stating that, in the course of
the performance by the signers of their duties as Responsible Officers of the Borrower, they would normally have knowledge of any failure by the Borrower to comply with all conditions, or Default by the Borrower with respect to any covenants, under
this Agreement, and further stating whether or not they have knowledge of any such failure or Default and, if so, specifying each such failure or Default and the nature thereof. In the event a Responsible Officer of the Borrower comes to have actual
knowledge of a Default, regardless of the date, and without regard to any period of grace or requirement of notice provided hereunder, the Borrower shall deliver an officer’s certificate to the Lender within five Business Days of obtaining such
actual knowledge specifying such Default and the nature and status thereof. 
 6.03 Preservation of Existence, Etc. Subject to
Section 7.01, the Borrower will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence, rights (charter and statutory) and franchises of the Borrower and each of its
Subsidiaries; provided, however, that the Borrower shall not be required to preserve any such right or franchise if its board of directors shall determine in good faith that the preservation thereof is no longer desirable
in the conduct of the business of the Borrower and its Subsidiaries as a whole and that the loss thereof is not disadvantageous in any material respect to the Lender. 
  

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 6.04 Use of Proceeds. Use the proceeds of the Term Loans exclusively to refinance Subordinated
Notes concurrently with the funding of the Term Loans. 
 6.05 Further Instruments and Acts. Upon request of the Lender, execute and
deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purposes of this Agreement. 
 ARTICLE VII 
 NEGATIVE COVENANTS 
 So long as a Term Loan or other Obligation hereunder (other than Unaccrued Indemnity Claims) shall remain unpaid or unsatisfied, the Borrower shall not:

 7.01 Fundamental Changes. Consolidate with or merge into any other Person or convey, transfer, sell, lease or otherwise dispose of
its properties and assets substantially as an entirety to any Person, and the Borrower shall not permit any Person to consolidate with or merge into the Borrower or convey, transfer, sell, lease or otherwise dispose of its properties and assets
substantially as an entirety to the Borrower, unless: 
 (a) in the event that the Borrower shall consolidate with or merge into another
Person or convey, transfer, sell, lease or otherwise dispose of its properties and assets substantially as an entirety to any Person, the Borrower shall be the surviving corporation or the Person formed by such consolidation or into which the
Borrower is merged or the Person which acquires by such conveyance, transfer, sale, lease or disposition the Borrower’s properties and assets substantially as an entirety shall be a Person organized and validly existing under the laws of the
United States of America, any State thereof or the District of Columbia; 
 (b) in the event that the Borrower shall consolidate with or
merge into another Person or convey, transfer, sell, lease or otherwise dispose of its properties and assets substantially as an entirety to any Person, and the entity surviving such transaction or transferee entity is not the Borrower, then such
surviving or transferee entity shall expressly assume, by an assignment and assumption agreement executed and delivered to the Lender, in form reasonably satisfactory to the Lender, and all covenants, promises and agreements by or on behalf of the
Borrower that are contained in this Agreement shall bind such surviving or transferee entity; 
 provided, however, that in each case,
(x) immediately after giving effect thereto, no Event of Default, and no event which, after notice or lapse of time or both, would become an Event of Default, shall have occurred and be continuing; and (y) the Borrower (or its successor,
as the case may be) shall have delivered to the Lender an officers’ certificate and an opinion of counsel, each stating that such consolidation, merger, conveyance, transfer, sale, lease or disposition and, if an assignment and assumption
agreement is required in connection with such transaction, such assignment and assumption agreement, comply with this Section 7.01 and that all conditions precedent herein provided for relating to such transaction have been complied
with. 
 For purposes of the foregoing, the transfer (by lease, assignment, sale or otherwise) of the properties and assets of one or more Subsidiaries
(other than to the Borrower or another Subsidiary), which, if such assets were owned by the Borrower, would constitute the properties and assets of the Borrower substantially as an entirety, shall be deemed to be the transfer of the properties and
assets of the Borrower substantially as an entirety. 
  

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 ARTICLE VIII 
 EVENTS OF DEFAULT AND REMEDIES 
 8.01 Events of Default. Any of the following shall
constitute an Event of Default: 
 (a) Non-Payment. The Borrower (i) fails to pay the principal of a Term Loan when the same becomes
due and payable, or (ii) fails to pay interest on a Term Loan when the same becomes due and payable and such failure to pay continues for a period of 30 days; or 
 (b) Covenants. The Borrower fails to perform or observe any other covenant or warranty made in any Loan Document and such failure continues for a period of 60 days after written notice of such failure,
requiring the Borrower to remedy the same, shall have been given to the Borrower by the Lender and such notice must specify the Default, demand that it be remedied and state that such notice is a “Notice of Default”; or 
 (c) Involuntary Bankruptcy; Appointment of Receiver, etc. The entry by a court having jurisdiction in the premises of (i) a decree or order for
relief in respect of the Borrower or any of its Subsidiaries that is a Significant Subsidiary or any group of two or more Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary, in an involuntary case or proceeding under any
applicable Debtor Relief Law or (ii) a decree or order adjudging the Borrower or any of its Subsidiaries that is a Significant Subsidiary or any group of two or more Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary, a
bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Borrower or any of its Subsidiaries that is a Significant Subsidiary or any group of two or more
Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary, under any applicable U.S. federal or state law, or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the
Borrower or of any substantial part of its property, or ordering the winding up or liquidation of its affairs; or 
 (d) Voluntary
Bankruptcy; Appointment of Receiver, etc. The commencement by the Borrower or any of its Subsidiaries that is a Significant Subsidiary or any group of two or more Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary, of
a voluntary case or proceeding under any applicable Debtor Relief Law, or the consent by the Borrower or any of its Subsidiaries that is a Significant Subsidiary or any group of two or more Subsidiaries that, taken as a whole, would constitute a
Significant Subsidiary, to the entry of a decree or order for relief in respect of the Borrower or any of its Subsidiaries that is a Significant Subsidiary or any group of two or more Subsidiaries that, taken as a whole, would constitute a
Significant Subsidiary, in an involuntary case or proceeding under any applicable Debtor Relief Law or to the commencement of any bankruptcy or insolvency case or proceeding against the Borrower, or the filing by the Borrower or any of its
Subsidiaries that is a Significant Subsidiary or any group of two or more Subsidiaries that, taken as a whole, would constitute a 

  

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Significant Subsidiary, of a petition or answer or consent seeking reorganization or relief under any applicable U.S. federal or state law in the context of
a bankruptcy, insolvency or reorganization proceeding, or the consent by the Borrower to the filing of such petition or to the appointment of or the taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or other
similar official of the Borrower or of any substantial part of its property, or the making by the Borrower or any of its Subsidiaries that is a Significant Subsidiary or any group of two or more Subsidiaries that, taken as a whole, would constitute
a Significant Subsidiary, of an assignment for the benefit of creditors, or the admission by the Borrower or any of its Subsidiaries that is a Significant Subsidiary or any group of two or more Subsidiaries that, taken as a whole, would constitute a
Significant Subsidiary, in writing of its inability to pay its debts generally as they become due, or the taking of corporate action by the Borrower or any of its Subsidiaries that is a Significant Subsidiary or any group of two or more Subsidiaries
that, taken as a whole, would constitute a Significant Subsidiary, expressly in furtherance of any such action. 
 (e) Cross-Default.
Any Loan Party or any of its Subsidiaries (i) fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) and, except in the case of any such payment due at scheduled maturity or
by acceleration, such payment is not made within any applicable grace period, in respect of any Indebtedness or Guarantee arising under the Existing Subordinated Term Loan Agreement, or (ii) fails to observe or perform any other agreement or
condition relating to any such Indebtedness or Guarantee or contained in any instrument or agreement evidencing, securing or relating thereto, the effect of which failure is to cause, or to permit the Lender or its Affiliates or the beneficiary or
beneficiaries of such Guarantee (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased,
prepaid, defeased or redeemed (automatically or otherwise) prior to its stated maturity, or such Guarantee to become payable or cash collateral in respect thereof to be demanded. 
 8.02 Remedies upon Event of Default. If any Event of Default occurs and is continuing, the Lender may take any or all of the following actions:

 (a) declare any or all of the unpaid principal amount any Term Loan, any or all interest accrued and unpaid thereon, and any or all other
amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, whereupon the same shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are
hereby expressly waived by the Borrower; 
 (b) increase the rate of interest applicable to any Term Loan to the Default Rate and exercise
on behalf of itself all rights and remedies available to it under the Loan Documents and applicable law; 
 provided, however, that upon the
occurrence of an Event of Default specified in Sections 8.01(c) and 8.01(d), the unpaid principal amount of the outstanding Term Loans and all interest and other amounts as aforesaid shall automatically become due and payable, without
any declaration or other act on the part of the Lender. 
  

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 ARTICLE IX 
 SUBORDINATION 
 9.01 Agreement of Subordination. The payment or prepayment of the
principal of and interest on the Term Loans hereunder shall, to the extent and in the manner hereinafter set forth, be subordinated and subject in right of payment to the prior payment in full in cash, or other payment satisfactory to the Senior
Secured Lenders, of all Obligations (as such term is defined under the Existing Senior Secured Credit Agreement) under the Existing Senior Secured Credit Agreement (the “Existing Senior Indebtedness”). 
 9.02 Payments To Lender. 
 (a)
Subject to the provisions of Section 9.04, no payment shall be made with respect to the principal of or interest on the Term Loans if: 
 (i) a default by the Borrower in the payment or prepayment of principal of or interest on, or other payment obligations due on, the Existing Senior Indebtedness occurs and is continuing (or, in the case of Existing
Senior Indebtedness for which there is a period of grace, in the event of such a default that continues beyond the period of grace, if any, specified in the Existing Senior Secured Credit Agreement); or 
 (ii) a default, other than a payment default as described in clause (i) above, on any Existing Senior Indebtedness occurs and is
continuing that permits the Senior Secured Lenders to accelerate the maturity of the Existing Senior Indebtedness and the Borrower or the Lender receives a notice that such default has occurred and is continuing (a “Payment Blockage
Notice”) from a Senior Secured Agent or a Senior Secured Lender. 
 (b) Subject to the provisions of Section 9.04,
if the Borrower or the Lender receives any Payment Blockage Notice from any Senior Secured Agent or Senior Secured Lender pursuant to clause (ii) above, no subsequent Payment Blockage Notice shall be effective for purposes of this Section
unless and until at least 365 days shall have elapsed since the initial effectiveness of the immediately prior Payment Blockage Notice. No nonpayment default that existed or was continuing on the date of delivery of any Payment Blockage Notice to
the Lender (unless such default was waived, cured or otherwise ceased to exist and thereafter subsequently reoccurred) shall be, or be made, the basis for a subsequent Payment Blockage Notice. 
 (c) The Borrower may and shall resume payments on the Term Loans upon the earlier of: 
 (i) in the case of a default referred to in clause (a)(i) above, the date upon which all such payments due in respect of the
Existing Senior Indebtedness have been paid in full in cash or other payment satisfactory to the Senior Secured Lenders, or 
 (ii) in the case of a default referred to in clause (a)(ii) above, the earlier of (A) the date on which such default is cured, waived or ceased to exist or (B) 179 days after the date on which the applicable Payment Blockage
Notice is received, unless this Article IX otherwise prohibits the payment or 

  

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distribution at the time of such payment or distribution; provided that if such Existing Senior Indebtedness has been accelerated, the Borrower shall
make no payments on or distributions in respect of the Term Loans and the Lender shall not receive or retain any such payments or distributions until such Existing Senior Indebtedness has been paid in full in cash or other payment satisfactory to
the Senior Secured Lenders or such acceleration has been cured or waived. 
 (d) Upon any payment by the Borrower, or distribution of assets
of the Borrower of any kind or character, whether in cash, property or securities, to creditors upon any dissolution, winding-up, liquidation or reorganization of the Borrower (whether voluntary or involuntary) or in the event of bankruptcy,
insolvency, receivership, assignment for the benefit of creditors or similar proceedings, all amounts due or to become due upon the Existing Senior Indebtedness shall first be paid in full in cash, or other payments satisfactory to the Senior
Secured Lenders, before any payment is made on account of the principal of the Term Loans; and upon any such dissolution or winding-up or liquidation or reorganization of the Borrower or bankruptcy, insolvency, receivership or other proceeding, any
payment by the Borrower, or distribution of assets of the Borrower of any kind or character, whether in cash, property or securities, to which the Lender would be entitled, except for the provision of this Article IX, shall (except as
aforesaid) be paid by the Borrower or by any receiver, trustee in bankruptcy, liquidating trustee, agent or other Person making such payment or distribution, or by the Lender if received by them or it, directly to the Senior Secured Lenders (pro
rata to such Senior Secured Lender on the basis of the respective amounts of Existing Senior Indebtedness held by such Senior Secured Lender, or as otherwise required by law or a court order) or the Senior Secured Agent, to the extent necessary
to pay the Existing Senior Indebtedness in full in cash, or other payment satisfactory to the Senior Secured Lenders, after giving effect to any concurrent payment or distribution to or for the Senior Secured Lenders, before any payment or
distribution is made to the Lender. 
 (e) For purposes of this Article IX, the words, “cash, property or securities” shall
not be deemed to include shares of stock of the Borrower as reorganized or readjusted, or securities of the Borrower or any other corporation provided for by a plan of reorganization or readjustment, the payment of which is subordinated at least to
the extent provided in this Article IX with respect to the Term Loans to the payment of the Existing Senior Indebtedness which may at the time be outstanding; provided that (i) the Existing Senior Indebtedness is assumed by the
new corporation, if any, resulting from any reorganization or readjustment, and (ii) the rights of the Senior Secured Lenders (other than leases which are not assumed by the Borrower or the new corporation, as the case may be) are not, without
the consent of the Senior Secured Lenders, altered by such reorganization or readjustment. The consolidation of the Borrower with, or the merger of the Borrower into, another corporation or the liquidation or dissolution of the Borrower following
the conveyance, transfer or lease of its property as an entirety, or substantially as an entirety, to another corporation upon the terms and conditions provided for in Article VII shall not be deemed a dissolution, winding-up, liquidation or
reorganization for the purposes of this Section 9.02 if such other corporation shall, as a part of such consolidation, merger, conveyance, transfer or lease, comply with the conditions stated in Article VII. 
 (f) In the event of any acceleration of the Term Loans because of an Event of Default, no payment or distribution shall be made to Lender in respect of
the principal 

  

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of or interest on the Term Loans by the Borrower, except payments and distributions made by the Lender as permitted by Section 9.04, until the
Existing Senior Indebtedness has been paid in full in cash or other payment satisfactory to the Senior Secured Lenders or such acceleration is rescinded in accordance with the terms of this Agreement. If payment of the either Term Loan is
accelerated because of an Event of Default, the Borrower shall promptly notify the Senior Secured Lenders of such acceleration. 
 (g) In
the event that, notwithstanding the foregoing provisions, any payment or distribution of assets of the Borrower of any kind or character, whether in cash, property or securities (including, without limitation, by way of setoff or otherwise),
prohibited by the foregoing, shall be received by the Lender before the Existing Senior Indebtedness is paid in full, in cash or other payment satisfactory to the Senior Secured Lenders, or provision is made for such payment thereof in accordance
with its terms in cash or other payment satisfactory to the Senior Secured Lenders, such payment or distribution shall be held in trust for the benefit of and shall be paid over or delivered to the Senior Secured Lenders or the Senior Secured Agent,
as calculated by the Borrower, for application to the payment of the Existing Senior Indebtedness remaining unpaid to the extent necessary to pay the Existing Senior Indebtedness in full, in cash or other payment satisfactory to the Senior Secured
Lenders, after giving effect to any concurrent payment or distribution to or for the Senior Secured Lenders. 
 (h) This
Section 9.02 shall be subject to the further provisions of Section 9.04. 
 9.03 Subrogation Of Term Loan.

 (a) Subject to the payment in full, in cash or other payment satisfactory to the Senior Secured Lenders, of the Existing Senior
Indebtedness, the rights of the Lender shall be subrogated to the extent of the payments or distributions made to the Senior Secured Lenders pursuant to the provisions of this Article IX (equally and ratably with the holders of all
indebtedness of the Borrower which by its express terms is subordinated to the Existing Senior Indebtedness of the Borrower to substantially the same extent as the Term Loans are subordinated to the Existing Senior Indebtedness and is entitled to
like rights of subrogation) to the rights of the Senior Secured Lenders to receive payments or distributions of cash, property or securities of the Borrower applicable to the Existing Senior Indebtedness until the principal of and interest on the
Term Loans shall be paid in full in cash or other payment satisfactory to the Senior Secured Lenders; and, for the purposes of such subrogation, no payments or distributions to the Senior Secured Lenders of any cash, property or securities to which
the Lender would be entitled except for the provisions of this Article IX, and no payment over pursuant to the provisions of this Article IX, to or for the benefit of the Senior Secured Lenders by the Lender, shall, as between the
Borrower, its creditors other than the Senior Secured Lenders, and the Lender, be deemed to be a payment by the Borrower to or on account of the Existing Senior Indebtedness; and no payments or distributions of cash, property or securities to or for
the benefit of the Lender pursuant to the subrogation provisions of this Article IX, which would otherwise have been paid to the Senior Secured Lenders shall be deemed to be a payment by the Borrower to or for the account of the Term Loans.
It is understood that the provisions of this Article IX are and are intended solely for the purposes of defining the relative rights of the Lender, on the one hand, and the Senior Secured Lenders, on the other hand. 
  

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 (b) Nothing contained in this Article IX or elsewhere in this Agreement is intended to or shall
impair, as among the Borrower, its creditors other than the Senior Secured Lenders, and the Lender, the obligation of the Borrower, which is absolute and unconditional, to pay to the Lender the principal of and interest on the Term Loans as and when
the same shall become due and payable in accordance with its terms, or is intended to or shall affect the relative rights of the Lender and creditors of the Borrower other than the Senior Secured Lenders, nor shall anything herein or therein prevent
the Lender from exercising all remedies otherwise permitted by applicable law upon default under this Agreement, subject to the rights, if any, under this Article IX of the Senior Secured Lenders in respect of cash, property or securities of
the Borrower received upon the exercise of any such remedy. 
 (c) Upon any payment or distribution of assets of the Borrower referred to in
this Article IX, the Lender shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which such bankruptcy, dissolution, winding-up, liquidation or reorganization proceedings are pending, or a
certificate of the receiver, trustee in bankruptcy, liquidating trustee, agent or other Person making such payment or distribution, delivered to the Lender, for the purpose of ascertaining the Persons entitled to participate in such distribution,
the Senior Secured Lenders and other indebtedness of the Borrower, the amount thereof or payable thereon and all other facts pertinent thereto or to this Article IX. 
 9.04 Notice To Lender. 
 (a) The
Borrower shall give prompt written notice to the Lender of any fact known to the Borrower which would prohibit the making of any payment of monies to or by the Lender in respect of the Term Loans pursuant to the provisions of this Article IX.
Notwithstanding the provisions of this Article IX or any other provision of this Agreement, the Lender shall not be charged with knowledge of the existence of any facts which would prohibit the making of any payment of monies to or by the
Lender in respect of the Term Loans pursuant to the provisions of this Article IX, unless and until the Lender shall have received written notice thereof from the Borrower or a Senior Secured Agent or a Senior Secured Lender; and before the
receipt of any such written notice, the Lender shall be entitled in all respects to assume that no such facts exist; provided that if on a date not less than one Business Day prior to the date upon which by the terms hereof any such monies
may become payable for any purpose (including, without limitation, the payment of the principal of or interest on the Term Loans) the Lender shall not have received, with respect to such monies, the notice provided for in this
Section 9.04, then, anything herein contained to the contrary notwithstanding, the Lender shall have full power and authority to receive such monies and to apply the same to the purpose for which they were received, and shall not be
affected by any notice to the contrary which may be received by it on or after such prior date. 
 (b) The Lender shall be entitled to rely
on the delivery to it of a written notice by a Senior Secured Agent or a Senior Secured Lender to establish that such notice has been given by a Senior Secured Agent or a Senior Secured Lender. In the event that the Lender determines in good faith
that further evidence is required with respect to the right of any Person as a Senior Secured Lender to participate in any payment or distribution pursuant to this Article IX, the Lender may request such Person to furnish evidence to the
reasonable satisfaction of the Lender as to the amount of Existing Senior Indebtedness held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the rights of
such Person under this Article IX and if such evidence is not furnished the Lender may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. 
  

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 9.05 Lender’s Relation To Existing Senior Indebtedness. With respect to the Senior Secured
Lenders, the Lender undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article IX, and no implied covenants or obligations with respect to the Senior Secured Lenders shall be
read into this Agreement against the Lender. The Lender shall not be deemed to owe any fiduciary duty to the Senior Secured Lenders and shall not be liable to any Senior Secured Lender if it shall pay over or deliver to the Borrower or any other
Person money or assets to which any Senior Secured Lender shall be entitled by virtue of this Article IX or otherwise, provided that such pay over or delivery occurs prior to first Business Day after the Lender’s receipt of written
notice of any fact that would prohibit the making of such payment of monies or delivery of assets to or by the Lender in respect of the Term Loans pursuant to the provisions of this Article IX. 
 9.06 No Impairment Of Subordination. 
 (a) No right of any Senior Secured Lender to enforce subordination as herein provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Borrower or by any act or failure to act, in good
faith, by any such Senior Secured Lender, or by any noncompliance by the Borrower with the terms, provisions and covenants of this Agreement, regardless of any knowledge thereof which any such holder may have or otherwise be charged with.

 (b) Without limiting the generality of Section 9.06(a), the Senior Secured Lenders may, at any time and from time to time,
without the consent of or notice to the Lender, without incurring responsibility to the Lender and without impairing or releasing the subordination provided in this Article IX or the obligations hereunder of the Lender to the Senior Secured
Lender, do any one or more of the following: (1) change the manner, place or terms of payment or the amount of interest, fees or other amounts payable, in respect of Existing Senior Indebtedness; (2) extend the time of payment of, or
renew, increase or otherwise alter, Existing Senior Indebtedness, or amend, waive, or otherwise modify any terms of any instrument or agreement of any kind evidencing, guaranteeing, securing or otherwise affecting or relating to Existing Senior
Indebtedness; (3) exchange, release, sell, fail to perfect any security interest or other Lien on or otherwise deal with, any property pledged, mortgaged or otherwise subject to a security interest or other Lien securing Existing Senior
Indebtedness; (4) release any guarantor or any other Person liable in any manner for the payment or collection of Existing Senior Indebtedness; (5) exercise or fail to exercise any right, power, privilege, or remedy in respect of Existing
Senior Indebtedness or under any instrument or agreement evidencing, guaranteeing, securing or otherwise affecting or relating to Existing Senior Indebtedness; (6) give or fail to give any notice, or take or fail to take any other action,
required by law, by agreement or otherwise to preserve the rights of any Senior Secured Lenders or with respect to any property pledged, mortgaged or otherwise subject to a security interest or Lien securing Existing Senior Indebtedness;
(7) perform or fail to perform any obligation of a Senior Secured Lender under any instrument or agreement evidencing, guaranteeing, securing or otherwise affecting or relating to Existing Senior Indebtedness; or (8) take or fail to take
any action that might otherwise constitute a defense available to, or a discharge of, the Borrower or any guarantor or other Person liable in respect of Existing Senior Indebtedness or the Lender in respect of this Agreement; provided,
however, that in no event shall any such actions limit the right of the Lender to take any action to 

  

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accelerate the maturity of the Term Loans pursuant to Article VIII hereof or to pursue any rights or remedies hereunder or under applicable laws if
the taking of such action does not otherwise violate the terms of this Agreement. 
 9.07 Existing Senior Indebtedness Entitled To
Rely. The Senior Secured Lenders shall have the right to rely upon this Article IX, and no amendment or modification of the provisions contained herein (or in the definition of any defined term used in any of the provisions of this
Article IX) shall diminish the rights of the Senior Secured Lender unless the Senior Secured Lenders shall have agreed in writing thereto. 
 ARTICLE X 
 MISCELLANEOUS 
 10.01 Amendments, Etc; Termination. No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by the Borrower therefrom, shall be effective unless in
writing signed by the Lender and the Borrower and each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. This Agreement may be validly terminated and the transactions contemplated
hereby may be abandoned by mutual written agreement of Borrower and Lender. 
 10.02 Notices and Other Communications; Facsimile
Copies. 
 (a) Except in the case of notices and other communications expressly permitted to be given by telephone (and except as
provided in subsection (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopier as
follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: if to the Borrower or the Lender, to the address, telecopier number, electronic
mail address or telephone number specified for such Person on Schedule 10.02. 
 Notices sent by hand or overnight courier service, or mailed by certified or
registered mail, shall be deemed to have been given when received. Notices sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given
at the opening of business on the next business day for the recipient). Notices delivered through electronic communications to the extent provided in subsection (b) below shall be effective as provided in such subsection (b).

 (b) Electronic Communications. Notices and other communications to the Lender may be delivered or furnished by electronic
communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Lender. The Lender or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic
communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications. 
  

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 Unless the Lender otherwise prescribes, notices and other communications sent to an e-mail address shall
be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), provided that if
such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient. 
 (c) Change of Address, Etc. Each of the Borrower and the Lender may change its address, telecopier or telephone number for notices and other
communications hereunder by notice to the other parties hereto. 
 (d) Reliance by the Lender. The Lender shall be entitled to rely
and act upon any notices purportedly given by or on behalf of the Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or
(ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrower shall indemnify the Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the
reliance by such Person on each notice purportedly given by or on behalf of the Borrower. All telephonic notices to and other telephonic communications with the Lender may be recorded by the Lender, and each of the parties hereto hereby consents to
such recording. 
 10.03 No Waiver; Cumulative Remedies. No failure by the Lender to exercise, and no delay by the Lender in
exercising, any right, remedy, power or privilege hereunder or any other Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further
exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under each other Loan Document, are cumulative and not exclusive of any rights, remedies,
powers and privileges provided by law. 
 10.04 Expenses; Indemnity; Damage Waiver. (a) Costs and Expenses. The Borrower agrees
to pay on demand all costs and expenses of the Lender in connection with the enforcement or protection of its rights in connection with the Loan Documents, whether in any action, suit or litigation, or any bankruptcy, insolvency or other similar
proceeding affecting creditors’ rights generally, and all costs and expenses of the Lender and its Affiliates with respect to any negotiations arising out of any Default (including, without limitation, the fees and expenses of counsel for the
Lender with respect thereto); provided that the Borrower shall not be required to reimburse the legal fees and expenses of more than one outside counsel (in addition to special counsel and up to one local counsel in each applicable local
jurisdiction) for all Persons indemnified under this 10.04(a) (which shall be selected by the Lender) unless, in the reasonable opinion of the Lender, representation of all such indemnified persons would be inappropriate due to the existence
of an actual or potential conflict of interest. 
 (b) Indemnification by the Borrower. The Borrower shall indemnify the Lender and
each Related Party of the Lender and their respective successors and assigns (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all actual losses (other than lost profit),
claims, damages, liabilities, costs and related 

  

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expenses (including the reasonable fees, charges and disbursements of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any
Indemnitee by any third party or by the Borrower arising out of, in connection with, or as a result of (i) the execution or delivery of (A) the commitment papers related to financing the Transaction, (B) this Agreement, (C) any
other Loan Document, (D) the use of proceeds of the Term Loans or (E) any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the
consummation of the transactions contemplated hereby or thereby and the contemplated use of the proceeds of Term Loans hereunder, (ii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by
the Borrower or any of its Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its Subsidiaries, or (iii) any actual or prospective claim, litigation, investigation or proceeding relating to any of the
foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower or any of the Borrower’s directors, shareholders or creditors, and regardless of whether any Indemnitee is a party thereto and
whether or not any of the transactions contemplated hereunder or under any of the other Loan Documents is consummated, in all cases, whether or not caused by or arising, in whole or in part, out of the comparative, contributory or sole negligence of
the Indemnitee; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final judgment to have
resulted from the gross negligence or willful misconduct of such Indemnitee (or any of its Subsidiaries or their respective officers, directors, employees or controlling persons). 
 (c) Waiver of Consequential Damages, Etc. To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives,
any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan
Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, the Term Loans or the use of the proceeds thereof. No Indemnitee referred to in subsection (b) above shall be liable for any
damages arising from the use by unintended recipients of any information or other materials distributed by it through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan
Documents or the transactions contemplated hereby or thereby. 
 (d) Certain Payments on Behalf of Borrower. If the Borrower fails to
pay when due any costs, expenses or other amounts payable by it under any Loan Document, including, without limitation, fees and expenses of counsel and indemnities, such amount may be paid on behalf of the Borrower by the Lender, in its sole
discretion and the Borrower shall promptly (and in any event not later than ten Business Days after demand therefore) reimburse the Lender for such payment. 
 (e) Payments. All amounts due under this Section 10.04 shall be payable not later than ten Business Days after demand therefor. 
  

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 (f) Survival. The agreements in this Section 10.04 shall survive the replacement of
the Lender and the repayment, satisfaction or discharge of all the other Obligations. 
 10.05 Payments Set Aside. To the extent that
any payment by or on behalf of the Borrower is made to the Lender, or the Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or
preferential, set aside or required (including pursuant to any settlement entered into by the Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or
otherwise, then to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred.

 10.06 Successors and Assigns. 
 (a) Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on behalf of the
Borrower or the Lender that are contained in this Agreement shall bind and inure to the benefit of their respective successors and assigns. 
 (b) The Lender may assign to one or more of its Affiliates all or a portion of its rights and obligations under this Agreement (including all or a portion of the Term Loans at the time owing to it). Subject to notification of an assignment,
the assignee shall be a party hereto and, to the extent of the interest assigned, have the rights and obligations of the Lender under this Agreement, and the Lender shall, to the extent of the interest assigned, be released from its obligations
under this Agreement (and, in the case of an assignment covering all of the Lender’s rights and obligations under this Agreement, the Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections
3.01 and 10.04). The Borrower hereby agrees to execute any amendment and/or any other document that may be necessary to effectuate such an assignment, including an amendment to this Agreement to provide for multiple lenders and, if
necessary, an administrative agent to act on behalf of such lenders. 
 (c) The Lender, acting for this purpose as an agent of the Borrower,
shall maintain a register for the recordation of principal amount of the Term Loans owing to the Lender pursuant to the terms hereof (the “Register”). The entries in the Register shall be conclusive, absent manifest error,
and the Borrower and the Lender may treat the person whose name is recorded in the Register pursuant to the terms hereof as the Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be
available for inspection by the Borrower at any reasonable time and from time to time upon reasonable prior notice. Failure to make a recordation, or any error in such recordation, shall not affect the Borrower’s obligations in respect of the
Term Loans. 
  

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 10.07 Right of Setoff. Upon (a) the occurrence and during the continuance of an Event of
Default, (b) an exercise of remedies under Section 8.02 or (c) amounts becoming due and payable pursuant to the proviso to Section 8.02, the Lender and each of its Affiliates is hereby authorized at any time and
from time to time, to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held (other than deposits in accounts that
have been specifically designated to the Lender as payroll accounts or trust accounts and that meet the requirements for payroll accounts or trust accounts) and other obligations (in whatever currency) at any time owing by the Lender or any such
Affiliate to or for the credit or the account of the Borrower against any and all of the obligations of the Borrower now or hereafter existing under this Agreement or any other Loan Document to the Lender, irrespective of whether or not the Lender
shall have made any demand under this Agreement or any other Loan Document and although such obligations of the Borrower may be contingent or unmatured or are owed to a branch or office of the Lender different from the branch or office holding such
deposit or obligated on such indebtedness. The rights of the Lender and its Affiliates under this Section 10.07 are in addition to other rights and remedies (including other rights of setoff) that the Lender or its respective Affiliates
may have. The Lender agrees to notify the Borrower promptly after any such setoff and application, provided that the failure to give such notice shall not affect the validity of such setoff and application. 
 10.08 Interest Rate Limitation. Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid
under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If the Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess
interest shall be applied to the principal of the Term Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by the Lender exceeds the Maximum Rate, such
Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and
(c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder. 
 10.09 Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of
which when taken together shall constitute a single contract. This Agreement and the other Loan Documents, constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof. Except as provided in Article IV, this Agreement shall become effective when it shall have been executed by the Lender and when the Lender shall have received
counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or PDF (or similar file) by electronic mail shall be
effective as delivery of a manually executed counterpart of this Agreement. 
 10.10 Survival of Representations and Warranties. All
representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such
representations and warranties have been or will be relied upon by the Lender, regardless of any investigation made by the Lender and notwithstanding that 
  

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the Lender may have had notice or knowledge of any Default at the time of the funding of the Term Loans, and shall continue in full force and effect as long
as a Term Loan or any other Obligation hereunder shall remain unpaid or unsatisfied. 
 10.11 Severability. If any provision of this
Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired
thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or
unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 10.12 Governing Law; Jurisdiction; Etc. 
 (a) GOVERNING LAW. THIS AGREEMENT AND EACH OTHER LOAN DOCUMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 (b) SUBMISSION TO JURISDICTION. THE BORROWER HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF ANY NEW YORK STATE COURT OR FEDERAL COURT OF THE
UNITED STATES OF AMERICA SITTING IN NEW YORK CITY, AND ANY APPELLATE COURT FROM ANY THEREOF (COLLECTIVELY, “NEW YORK COURTS”), IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS TO
WHICH IT IS A PARTY, 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 ANY SUCH
NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT
ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT SHALL AFFECT ANY RIGHT THAT THE LENDER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS IN THE COURTS
OF ANY JURISDICTION, except that the Borrower agrees that (i) it will not bring any such action or proceeding in any court other than New York Courts, and (ii) in any such action or proceeding brought against the Borrower in any other
court, it will not assert any cross-claim, counterclaim or setoff, or seek any other affirmative relief, except to the extent that the failure to assert the same will preclude the Borrower from asserting or seeking the same in the New York Courts

  

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 (c) WAIVER OF VENUE. THE BORROWER HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE
FULLEST EXTENT IT MAY LEGALLY AND EFFECTIVELY DO SO, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS TO
WHICH IT IS A PARTY IN ANY NEW YORK STATE OR FEDERAL COURT. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY
SUCH COURT. 
 (d) SERVICE OF PROCESS. THE BORROWER IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR
NOTICES IN SECTION 10.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF THE LENDER TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 
 10.13 WAIVER OF JURY TRIAL. EACH OF THE BORROWER AND THE LENDER IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT
OF OR RELATING TO ANY OF THE LOAN DOCUMENTS, THE TERM LOANS OR THE ACTIONS OF LENDER IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT THEREOF. 
 [Remainder of Page Intentionally Blank] 
  

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

			
	QUANTUM CORPORATION, as Borrower
		
	By	 	 /s/ Jon W. Gacek

	Name:	 	Jon W. Gacek
	Title:	 	COO & CFO

  

 S-1 

			
	EMC INTERNATIONAL COMPANY,
	 an entity organized under the laws of the Republic
 of Ireland

		
	By	 	 /s/ Paul T. Dacier

	Name:	 	Paul T. Dacier
	Title:	 	Director

  

 S-2

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