Document:

EX-10.3

 Exhibit 10.3 

ABL GUARANTEE AND COLLATERAL AGREEMENT SUPPLEMENT 

This Supplement is entered into as of January 29, 2018 (this “Supplement”), by WES, LLC, a Minnesota limited liability
company, and UltraLox Technology, LLC, a Minnesota limited liability company (each, a “New Guarantor”), and Deutsche Bank AG New York Branch, as administrative agent (in such capacity, the “Administrative Agent”)
and as collateral agent (in such capacity, the “Collateral Agent”). Reference is hereby made to that certain ABL Guarantee and Collateral Agreement, dated as of September 30, 2013, as amended by First Amendment to ABL Guarantee
and Collateral Agreement, dated as of March 9, 2017 (as amended, restated, supplemented or otherwise modified from time to time, the “Guarantee and Collateral Agreement”), among CPG International LLC, a Delaware limited
liability company (the “Borrower”), CPG Newco LLC, a Delaware limited liability company (“Holdings”), and certain Subsidiaries of Holdings (each, a “Subsidiary Loan Party”) and Deutsche Bank AG New
York Branch, as the Administrative Agent and as the Collateral Agent for the Secured Parties (as defined therein). 
 A. Reference is made to
that certain Amended and Restated Revolving Credit Agreement, dated as of March 9, 2017 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Borrower), the Lenders
party thereto, the Administrative Agent, the Collateral Agent, and other agents party thereto. 
 B. Capitalized terms used herein and not
otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement and the Guarantee and Collateral Agreement referred to therein, as applicable. 

C. The Pledgors have entered into the Guarantee and Collateral Agreement in order to induce the Lenders to make Loans, each Issuing Bank to
issue Letters of Credit and each Agent and Lender and their respective Affiliates to extend financial accommodations pursuant to any Specified Hedge Agreement or any agreement constituting a Cash Management Obligation under the Credit Agreement.
Section 7.16 of the Guarantee and Collateral Agreement provides that additional Subsidiaries may become Subsidiary Loan Parties under the Guarantee and Collateral Agreement by execution and delivery of an instrument in the form of this
Supplement. Each New Guarantor is executing this Supplement in accordance with the requirements of the Credit Agreement to become a Guarantor under the Guarantee and Collateral Agreement in order to induce the Lenders to make additional Loans, each
Issuing Bank to issue additional Letters of Credit and each Agent and Lender and their respective Affiliates to extend financial accommodations pursuant to any Specified Hedge Agreement or any agreement constituting a Cash Management Obligation (if
available under the Credit Agreement), and as consideration for any such financial accommodations previously made or issued under the Credit Agreement. 

Accordingly, the Administrative Agent and each New Guarantor agree as follows: 

SECTION 1. In accordance with Section 7.16 of the Guarantee and Collateral Agreement, each New Guarantor by its signature below becomes a
Subsidiary Loan Party, a Guarantor and a Pledgor under the Guarantee and Collateral Agreement with the same force and effect as if originally named therein as a Subsidiary Loan Party, a Guarantor and a Pledgor, and each New Guarantor hereby
(a) agrees to all the terms and provisions of the Guarantee and 

 
Collateral Agreement applicable to it as a Subsidiary Loan party, a Guarantor and a Pledgor thereunder and (b) represents and warrants that the representations and warranties made by it as a
Guarantor and a Pledgor thereunder are true and correct, in all material respects, on and as of the date hereof. In furtherance of the foregoing, each New Guarantor, as security for the payment and performance in full of the Obligations (as defined
in the Guarantee and Collateral Agreement), does hereby create and grant to the Administrative Agent, for the benefit of the Secured Parties, a security interest in and Lien on all of such New Guarantor’s right, title and interest in and to the
Collateral (as defined in the Guarantee and Collateral Agreement) of such New Guarantor. Each reference to a “Subsidiary Loan Party,” a “Guarantor,” or a “Pledgor” in the Guarantee and Collateral Agreement shall be
deemed to include each New Guarantor. The Guarantee and Collateral Agreement is hereby incorporated herein by reference. 
 SECTION 2. Each
New Guarantor represents and warrants to the Administrative Agent and the other Secured Parties that this Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against
it in accordance with its terms, subject to (i) the effects of bankruptcy, insolvency, moratorium, reorganization, fraudulent conveyance or other similar laws affecting creditors’ rights generally, (ii) general principles of equity
(regardless of whether such enforceability is considered in a proceeding in equity or at law) and (iii) implied covenants of good faith and fair dealing. 

SECTION 3. This Agreement may be executed in two or more counterparts, each of which shall constitute an original but all of which when taken
together shall constitute but one contract. This Supplement shall become effective when (a) the Administrative Agent shall have received a counterpart of this Supplement that bears the signature of each New Guarantor and (b) the Agents
have executed a counterpart hereof. 
 SECTION 4. Each New Guarantor hereby represents and warrants that (a) set forth on Schedule
I attached hereto is a true and correct schedule of all the Pledged Securities of such New Guarantor as of the date hereof, (b) set forth on Schedule II attached hereto is a true and correct schedule of all of the material Patents,
Trademarks and Copyrights of such New Guarantor as of the date hereof, (c) set forth on Schedule III attached hereto is a true and correct schedule of all Commercial Tort Claims of such New Guarantor individually in excess of
$5.0 million as of the date hereof and (d) set forth on Schedule IV is the true and correct legal name of such New Guarantor, its jurisdiction of formation and the location of its chief executive office. 

SECTION 5. Except as expressly supplemented hereby, the Guarantee and Collateral Agreement shall remain in full force and effect. 

SECTION 6. THIS SUPPLEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS SUPPLEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 7. In the event any one or more of the provisions contained in this Supplement
should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and in the Guarantee and Collateral Agreement shall not in any way be affected or impaired
thereby. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable
provisions. 

 SECTION 8. All communications and notices hereunder shall be in writing and given as
provided in Section 7.01 of the Guarantee and Collateral Agreement. 
 SECTION 9. Each New Guarantor agrees to reimburse the
Administrative Agent for its reasonable out-of-pocket expenses in connection with this Supplement, in each case in accordance with and pursuant to the terms of
Section 7.06 of the Guarantee and Collateral Agreement, including the reasonable fees, disbursements and other charges of counsel for the Administrative Agent. 

 IN WITNESS WHEREOF, each New Guarantor and the Agents have duly executed this Supplement to
the Guarantee and Collateral Agreement as of the day and year first above written. 
  

					
	WES, LLC
		
	By:	 	 /s/ Christopher Eppel

		 	Name:	 	Christopher Eppel
		 	Title:	 	CFO

  

					
	UltraLox Technology, LLC
		
	By:	 	 /s/ Christopher Eppel

		 	Name:	 	Christopher Eppel
		 	Title:	 	CFO

			
	ACKNOWLEDGED AND ACCEPTED:
	
	 DEUTSCHE BANK AG NEW YORK BRANCH,

as Administrative Agent

		
	By:	 	 /s/ Dusan Lazarov

		 	Name: Dusan Lazarov
		 	Title: Director
		
	By:	 	 /s/ Marcus Tarkington

		 	Name: Marcus Tarkington
		 	Title: Director

 SCHEDULE I 

Pledged Securities 
 A.
Pledged Stock 
  

															
	 Entity
	  	 Form of

Entity
	  	Jurisdiction
of
Organization	  	Holder(s) of
Equity
Interests /
Pledgor	  	Percent
Held /
Pledged	 	 	Certificated	 
	 WES, LLC
	  	Limited liability company	  	Minnesota	  	CPG International LLC	  	 	100	% 	 	 	No	 
	 UltraLox Technology, LLC
	  	Limited liability company	  	Minnesota	  	WES, LLC	  	 	100	% 	 	 	No	 

 B. Pledged notes 

None. 

 SCHEDULE II 

Intellectual Property 

A. Patents 
  

																									
	 Country
	  	 Owner
	  	 Title
	  	Application
Number	 	  	File Date	 	  	Patent No.	 	  	Issue Date	 	  	Status	 
	 US
	  	WES, LLC	  	PRESS FOR ASSEMBLING RAILING SYSTEMS	  	 	11/678,360	 	  	 	02/23/07	 	  	 	7,975,374	 	  	 	07/12/11	 	  	 	GRANTED	 
	 US
	  	WES, LLC	  	RAILING SYSTEM	  	 	11/678,354	 	  	 	02/23/07	 	  	 	8,286,948	 	  	 	10/16/12	 	  	 	GRANTED	 
	 Canada
	  	WES, LLC	  	PRESS FOR ASSEMBLING RAILING SYSTEMS	  	 	2,537,683	 	  	 	02/23/07	 	  	 
 
	CA2579495

C                 
	 
  
	  	 	06/03/14	 	  	 	GRANTED	 
	 Canada
	  	WES, LLC	  	RAILING SYSTEM	  	 	2,537,683	 	  	 	02/23/07	 	  	 	CA2579497	 	  	 	10/13/15	 	  	 	GRANTED	 

 B. Trademarks 
  

							
	 Country
	  	 Owner
	  	 Title
	  	 Application Number

	 US
	  	WES, LLC	  	UltraLox	  	87416602
	 US
	  	WES, LLC	  	UltraLox Interlocking	  	87588010
	 US
	  	WES, LLC	  	Williams Architectural Products	  	87416595
	 US
	  	WES, LLC	  	Harmony Railing	  	87416599
	 US
	  	WES, LLC	  	Aria Railing	  	87434953

 C. Copyrights 

None. 
 D. Domain Names 

ultralox.com 

williamsrailing.com 

harmonyrailing.com 

ariarailing.com 

deckrailingandfence.com 

ultraloxcloud.com 

ultraloxmarketing.com 

advancedmarketingdevelopment.com 

directrailing.com 

harmonyordering.com 

 orderingharmony.com 

bestaluminumrailing.com 

bestdeckrailing.com 

ultraloxinterlocking.com 

ultraloxrailing.com 

ultraloxrail.com 

ultraloxtechnologies.com 

ultraloxproducts.com 

harmonyrail.com 
 ariarail.com

 railingaccent.com 

railingaccents.com 

ultraloxfencing.com 

ultraloxfence.com 

harmonyrailings.com 

deckbuildersdirect.com 

harmonyorders.com 

ultraloxsystems.com 

deckandlandscaping.com 

ultraloxmap.com 
 loxiteonline.com

 williamsrail-fence.com 

 SCHEDULE III 

Commercial Tort Claims 
 None. 

 SCHEDULE IV 

Jurisdictions of Organization, Locations of Chief Executive Offices 

 

							
	 Entity
	  	Jurisdiction of
Organization	  	Identification
Number	  	 Location of Chief Executive Office

	 WES, LLC
	  	Minnesota	  	47-2506778	  	 2955 Lone Oak Drive, #180
 Eagan, Minnesota
55121

	 UltraLox Technology, LLC
	  	Minnesota	  	47-3248718	  	 2955 Lone Oak Drive, #180
 Eagan, Minnesota
55121EX-10.4

 Exhibit 10.4 

ABL GUARANTEE AND COLLATERAL AGREEMENT SUPPLEMENT 

This Supplement is entered into as of June 18, 2018 (this “Supplement”), by Versatex Holdings, LLC, a Delaware limited
liability company, and Versatex Building Products, LLC, a Pennsylvania limited liability company (each, a “New Guarantor”), and Deutsche Bank AG New York Branch, as administrative agent (in such capacity, the “Administrative
Agent”) and as collateral agent (in such capacity, the “Collateral Agent”). Reference is hereby made to that certain ABL Guarantee and Collateral Agreement, dated as of September 30, 2013, as amended by First Amendment
to ABL Guarantee and Collateral Agreement, dated as of March 9, 2017 (as amended, restated, supplemented or otherwise modified from time to time, the “Guarantee and Collateral Agreement”), among CPG International LLC, a
Delaware limited liability company (the “Borrower”), CPG Newco LLC, a Delaware limited liability company (“Holdings”), and certain Subsidiaries of Holdings (each, a “Subsidiary Loan Party”) and
Deutsche Bank AG New York Branch, as the Administrative Agent and as the Collateral Agent for the Secured Parties (as defined therein). 
 A.
Reference is made to that certain Amended and Restated Revolving Credit Agreement, dated as of March 9, 2017 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the
Borrower), the Lenders party thereto, the Administrative Agent, the Collateral Agent, and other agents party thereto. 
 B. Capitalized terms
used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement and the Guarantee and Collateral Agreement referred to therein, as applicable. 

C. The Pledgors have entered into the Guarantee and Collateral Agreement in order to induce the Lenders to make Loans, each Issuing Bank to
issue Letters of Credit and each Agent and Lender and their respective Affiliates to extend financial accommodations pursuant to any Specified Hedge Agreement or any agreement constituting a Cash Management Obligation under the Credit Agreement.
Section 7.16 of the Guarantee and Collateral Agreement provides that additional Subsidiaries may become Subsidiary Loan Parties under the Guarantee and Collateral Agreement by execution and delivery of an instrument in the form of this
Supplement. Each New Guarantor is executing this Supplement in accordance with the requirements of the Credit Agreement to become a Guarantor under the Guarantee and Collateral Agreement in order to induce the Lenders to make additional Loans, each
Issuing Bank to issue additional Letters of Credit and each Agent and Lender and their respective Affiliates to extend financial accommodations pursuant to any Specified Hedge Agreement or any agreement constituting a Cash Management Obligation (if
available under the Credit Agreement), and as consideration for any such financial accommodations previously made or issued under the Credit Agreement. 

Accordingly, the Administrative Agent and each New Guarantor agree as follows: 

SECTION 1. In accordance with Section 7.16 of the Guarantee and Collateral Agreement, each New Guarantor by its signature below becomes a
Subsidiary Loan Party, a Guarantor and a Pledgor under the Guarantee and Collateral Agreement with the same force and effect as if originally named therein as a Subsidiary Loan Party, a Guarantor and a Pledgor, and each New Guarantor hereby
(a) agrees to all the terms and provisions of the Guarantee and 

 
Collateral Agreement applicable to it as a Subsidiary Loan party, a Guarantor and a Pledgor thereunder and (b) represents and warrants that the representations and warranties made by it as a
Guarantor and a Pledgor thereunder are true and correct, in all material respects, on and as of the date hereof. In furtherance of the foregoing, each New Guarantor, as security for the payment and performance in full of the Obligations (as defined
in the Guarantee and Collateral Agreement), does hereby create and grant to the Administrative Agent, for the benefit of the Secured Parties, a security interest in and Lien on all of such New Guarantor’s right, title and interest in and to the
Collateral (as defined in the Guarantee and Collateral Agreement) of such New Guarantor. Each reference to a “Subsidiary Loan Party,” a “Guarantor,” or a “Pledgor” in the Guarantee and Collateral Agreement shall be
deemed to include each New Guarantor. The Guarantee and Collateral Agreement is hereby incorporated herein by reference. 
 SECTION 2. Each
New Guarantor represents and warrants to the Administrative Agent and the other Secured Parties that this Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against
it in accordance with its terms, subject to (i) the effects of bankruptcy, insolvency, moratorium, reorganization, fraudulent conveyance or other similar laws affecting creditors’ rights generally, (ii) general principles of equity
(regardless of whether such enforceability is considered in a proceeding in equity or at law) and (iii) implied covenants of good faith and fair dealing. 

SECTION 3. This Agreement may be executed in two or more counterparts, each of which shall constitute an original but all of which when taken
together shall constitute but one contract. This Supplement shall become effective when (a) the Administrative Agent shall have received a counterpart of this Supplement that bears the signature of each New Guarantor and (b) the Agents
have executed a counterpart hereof. 
 SECTION 4. Each New Guarantor hereby represents and warrants that (a) set forth on Schedule
I attached hereto is a true and correct schedule of all the Pledged Securities of such New Guarantor as of the date hereof, (b) set forth on Schedule II attached hereto is a true and correct schedule of all of the material Patents,
Trademarks and Copyrights of such New Guarantor as of the date hereof, (c) set forth on Schedule III attached hereto is a true and correct schedule of all Commercial Tort Claims of such New Guarantor individually in excess of
$5.0 million as of the date hereof and (d) set forth on Schedule IV is the true and correct legal name of such New Guarantor, its jurisdiction of formation and the location of its chief executive office. 

SECTION 5. Except as expressly supplemented hereby, the Guarantee and Collateral Agreement shall remain in full force and effect. 

SECTION 6. THIS SUPPLEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS SUPPLEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 7. In the event any one or more of the provisions contained in this Supplement
should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and in the Guarantee and Collateral Agreement shall not in any way be affected or impaired
thereby. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable
provisions. 

 SECTION 8. All communications and notices hereunder shall be in writing and given as
provided in Section 7.01 of the Guarantee and Collateral Agreement. 
 SECTION 9. Each New Guarantor agrees to reimburse the
Administrative Agent for its reasonable out-of-pocket expenses in connection with this Supplement, in each case in accordance with and pursuant to the terms of
Section 7.06 of the Guarantee and Collateral Agreement, including the reasonable fees, disbursements and other charges of counsel for the Administrative Agent. 

 IN WITNESS WHEREOF, each New Guarantor and the Agents have duly executed this Supplement to the Guarantee
and Collateral Agreement as of the day and year first above written. 
  

					
	VERSATEX HOLDINGS, LLC
		
	By:	 	 /s/ Jesse Singh

		 	Name:	 	Jesse Singh
		 	Title:	 	President

  

					
	VERSATEX BUILDING PRODUCTS, LLC
		
	By:	 	 /s/ Jesse Singh

		 	Name:	 	Jesse Singh
		 	Title:	 	President

 [Signature Page to Guarantee and Collateral Supplement (ABL)] 

					
	ACKNOWLEDGED AND ACCEPTED:
	
	 DEUTSCHE BANK AG NEW YORK BRANCH,

as Administrative Agent

		
	By:	 	 /s/ Frank Fazio

		 	Name:	 	Frank Fazio
		 	Title:	 	Managing Director
		
		 	 /s/ Stephen R. Lapidus

		 	Name:	 	Stephen R. Lapidus
		 	Title:	 	Director

 [Signature Page to Guarantee and Collateral Supplement (ABL)] 

 SCHEDULE I 

Pledged Securities 
 A.
Pledged Stock 
  

													
	 Entity
	  	 Form of

Entity
	  	 Jurisdiction

of

Organization
	  	 Holder(s) of

Equity
 Interests /

Pledgor
	  	Percent
Held /
Pledged	 	 	Certificated
	 Versatex Holdings, LLC
	  	Limited liability company	  	Delaware	  	CPG International LLC	  	 	100	% 	 	Yes
	 Versatex Building Products, LLC
	  	Limited liability company	  	Pennsylvania	  	Versatex Holdings, LLC	  	 	100	% 	 	Yes

 B. Pledged notes 

None. 

 SCHEDULE II 

Intellectual Property 

A. Patents 
 Owned
Patents 
 None. 
 Licensed
Patents 
  

			
	 Patent
	  	 Name and Address of Licensor

	 7,997,044 B2
 (Reeam 7,997,044 C1)
	  	 Marhaygue, LLC
  

8 Lachicotte Drive
 Pawleys Island, South Carolina
29585

 B. Trademarks 
  

									
	 Country
	  	 Owner
	  	Title	  	Application Number	 
	 US
	  	Versatex Buildings Products, LLC	  	VERSATEX	  	 	3,077,495	 
	 US
	  	Versatex Buildings Products, LLC	  	STEALTH	  	 	4,124,302	 
	 US
	  	Versatex Buildings Products, LLC	  	VERSAWRAP	  	 	4,119,315	 

 C. Copyrights 

None. 
 D. Domain Names 

None. 

 SCHEDULE III 

Commercial Tort Claims 
 None. 

 SCHEDULE IV 

Jurisdictions of Organization, Locations of Chief Executive Offices 

 

							
	 Entity
	  	 Jurisdiction of

Organization
	  	Identification
Number	  	 Location of Chief Executive Office

	 Versatex Holdings, LLC
	  	Delaware	  	6144649	  	 400 Steel Street
 Aliquippa

Beaver County, Pennsylvania 15001

	 Versatex Building Products, LLC
	  	Pennsylvania	  	4290561	  	 400 Steel Street
 Aliquippa

Beaver County, Pennsylvania 15001

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