Document:

Guarantee by each subsidiary guarantor

 Exhibit 10.10 
  
  
  
 GUARANTEE 
 Among 
 Each
Subsidiary Guarantor Party to the Credit Agreement 
 in favor of 
 Bank of America, N.A., 
 as Administrative Agent 

 
  
 Dated as of November 4, 2009 
  
  
  
  

 GUARANTEE 
 THIS GUARANTEE (as amended, restated, supplemented or otherwise modified from time to time, (this “Guarantee”), dated as of November 4, 2009 by and among each Subsidiary Guarantor
party to the Credit Agreement referenced below, in favor of Bank of America, N.A., in its capacity as Administrative Agent for the Lenders from time to time party to the Credit Agreement to guarantee the payment and performance of all of the
Obligations of each Credit Party. 
 Each capitalized term used herein but not otherwise defined has the meaning assigned to
such term in the Credit Agreement, 
 R E C I T A L S 
 A. Pursant to that certain credit agreement, dated as of November 4, 2009 among Language Line, LLC, a Delaware limited liability
company (“Language Line”) and Coto Acquisition LLC (“Coto” and together with Language Line, the “Borrowers”), Holdings, the Subsidiary Guarantors listed on the signature pages hereto, the several lenders from
time to time party hereto (the “Lenders”), Banc of America Securities LLC, Credit Suisse Securities (USA) LLC and Morgan Stanley Senior Funding, Inc., as Joint Lead Arrangers and Joint Book-Runners, Credit Suisse Securities (USA)
LLC, as Syndication Agent, Morgan Stanley Senior Funding, Inc., as Documentation Agent and Bank of America, N.A., as Administrative Agent for the Lenders (in such capacity, the “Administrative Agent”), the Lenders have agreed to
make to or for the account of the Borrowers certain Loans and to issue certain Letters of Credit for the account of the Borrowers. 
 B. It is contemplated that any of the Credit Parties may enter into one or more Interest Rate Agreements. 
 C. Each
Subsidiary Guarantor is, pursuant to this Guarantee, among other things, guaranteeing the obligations of the other Credit Parties under the Credit Agreement and the other Credit Documents. 
 D. Each Subsidiary Guarantor will receive substantial benefits from the execution, delivery and performance of the Credit Documents and is
therefore willing to enter into this Guarantee. 
 E. It is a condition to the obligations of the Lenders to make the Loans
under the Credit Agreement and a condition to any Lender issuing Letters of Credit under the Credit Agreement or entering into any Interest Rate Agreement that each Subsidiary Guarantor execute and deliver this Guarantee. 

 A G R E E M E N T 

NOW, THEREFORE, in consideration of the foregoing premises and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto hereby agree as follows: 
 Section 1. Interpretation. The rules
of interpretation specified in the Credit Agreement (including subsection 1.2 thereof) shall be applicable to this Guarantee. 
 Section 2. Resolution of Drafting Ambiguities. Each Subsidiary Guarantor acknowledges and agrees that it was represented by counsel in connection with the execution and delivery hereof, that it and its counsel reviewed and
participated in the preparation and negotiation hereof and that any rule of construction to the effect that ambiguities are to be resolved against the drafting party (i.e., the Administrative Agent) shall not be employed in the interpretation
hereof. 
 Section 3. Guarantee. Each Subsidiary Guarantor hereby guarantees, jointly with the other Guarantors and
severally, as a primary obligor and not as a surety to each Secured Party and their respective permitted successors and assigns, the prompt payment in full when due (whether at stated maturity, by required prepayment, declaration, demand, by
acceleration or otherwise) of the principal of and interest (including any interest, fees, costs or charges that would accrue but for the provisions of the Bankruptcy Code after any bankruptcy or insolvency petition under the Bankruptcy Code) on the
Loans made by the Lenders to, and the Notes held by each Lender of, the Borrowers, and all other Obligations from time to time owing to the Secured Parties by any Credit Party under any Credit Document in each case strictly in accordance with the
terms thereof (such obligations being herein collectively called the “Guaranteed Obligations”). Each Subsidiary Guarantor hereby agrees that if any Borrower or any other Guarantor shall fail to pay in full when due (whether at
stated maturity, by acceleration or otherwise) any of the Guaranteed Obligations, such Subsidiary Guarantor will promptly pay the same in cash, without any demand or notice whatsoever, and that in the case of any extension of time of payment or
renewal of any of the Guaranteed Obligations, the same will be promptly paid in full when due (whether at extended maturity, by acceleration or otherwise) in accordance with the terms of such extension or renewal. 
 (a) To the fullest extent permitted by applicable law, each Subsidiary Guarantor waives any defense based on or arising out
of any defense of the Borrowers or the unenforceability of the Obligations or any part thereof from any cause, or the assertion from any cause of the liability of the Borrowers, other than the final payment in full in cash of the Obligations;
provided that subsequent to the final payment in full

  

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in cash of the Obligations other than indemnity and other contingent liabilities not yet due and payable, such Subsidiary Guarantor may additionally assert a defense arising from or in connection
with the bad faith, gross negligence or willful misconduct of any Secured Party in respect of an indemnity Obligation. In any action or proceeding involving any state corporate limited partnership or limited liability company law, or any applicable
state, federal or foreign bankruptcy, insolvency and fraudulent conveyances or transfers, reorganization or other law affecting the rights of creditors generally, if the obligations of any Subsidiary Guarantor hereunder would otherwise be held or
determined to be void, voidable, invalid or unenforceable, or subordinated to the claims of any other creditors, on account of the amount of its liability hereunder, then, notwithstanding any other provision to the contrary, the amount of such
liability shall, without any further action by such Subsidiary Guarantor, any Credit Party or any other person, be automatically limited and reduced to the highest amount that is valid and enforceable and not subordinated to the claims of other
creditors as determined in such action or proceeding. 
 (b) Each Subsidiary Guarantor agrees that the
Obligations may at any time and from time to time exceed the amount of the liability of such Subsidiary Guarantor hereunder without impairing the guarantee contained in this Guarantee or affecting the rights and remedies of the Administrative Agent
or any Secured Party hereunder; provided that there shall be no modification or increase of the liability of each Subsidiary Guarantor hereunder due to any such excess of Obligations. 
 (c) The guarantee contained in this Guarantee shall remain in full force and effect until all the Obligations of the Credit
Parties (other than any indemnity and other contingent obligations not yet due and payable), including the obligations of the Parent Guarantor under the Parent Guarantee of even date herewith, shall have been satisfied by payment in full, no Letter
of Credit shall be outstanding and the Commitments shall have been terminated, notwithstanding that from time to time during the term of the Credit Agreement the Borrowers may be free from any Obligations. 
 (d) No payment made by any Borrower, any of Holdings, any Subsidiary Guarantor, any other guarantor or any other person or
received or collected by the Administrative Agent or any Secured Party from any of the Borrowers, any of Holdings, any Subsidiary Guarantor, any other guarantor or any other person by virtue of any action or proceeding or any set-off or
appropriation or application at any time or from time to time in reduction of or in payment of the Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of any Subsidiary Guarantor hereunder, which shall,
notwithstanding any such payment (other than any payment made by such Subsidiary Guarantor in respect of the Obligations or any payment received or collected from such Subsidiary Guarantor in respect of the Obligations),

  

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remain liable for the Obligations up to the maximum liability of such Subsidiary Guarantor hereunder until the Obligations are paid in full (other than any indemnity and other contingent
Obligations not yet due and payable), no Letter of Credit shall be outstanding and the Commitments are terminated. 
 (e) Each Subsidiary Guarantor agrees that its guarantee hereunder is a guarantee of payment when due, not of collection, and waives any right to require that any resort be had by the Administrative Agent or any other Secured Party to any of
the security held for payment of the Obligations or to any balance of any deposit account for credit on the books of the Administrative Agent or any other Secured Party in favor of the Borrowers or any other person. 
 Section 4. Right of Contribution. Each Subsidiary Guarantor hereby agrees that to the extent that any Subsidiary Guarantor shall
have paid more than its proportionate share of the aggregate of any payment made hereunder and by the Parent Guarantor under the Parent Guarantee, such Subsidiary Guarantor shall be entitled to seek and receive contribution in the maximum amount
permitted by law from and against any other Guarantor which has not paid its proportionate share of such payment. Each Subsidiary Guarantor’s right of contribution shall be subject to the terms and conditions of all Guarantees, and each of the
Subsidiary Guarantors and Holdings shall allocate among themselves, in a fair and equitable manner, such payments. The provisions of this Section 4 shall in no respect limit the obligations and liabilities of any Subsidiary Guarantor to the
Administrative Agent and the Secured Parties, and each Subsidiary Guarantor shall remain jointly and severally liable to the Administrative Agent and the Secured Parties for the full amount guaranteed by it hereunder. 
 Section 5. Right of Set-off. In addition to any rights and remedies of the Administrative Agent and each Secured Party provided
by law, if an Event of Default exists and is continuing or the Loans have been accelerated, each Subsidiary Guarantor hereby irrevocably authorizes the Administrative Agent and each Secured Party at any time and from time to time, without prior
notice to any Subsidiary Guarantor, any such notice being waived by each Subsidiary Guarantor to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time
held by, and other indebtedness, credits or claims (in each case, in any currency and whether direct or indirect, absolute or contingent, matured or unmatured) at any time owing by, the Administrative Agent or such Secured Party (or any branch or
agency thereof) to or for the credit or the account of any Subsidiary Guarantor against any and all Obligations then due and payable by such Subsidiary Guarantor hereunder (whether at the stated maturity, by acceleration or otherwise). Each Secured
Party agrees to promptly notify the applicable Subsidiary Guarantor and the Administrative Agent after any such set-off and application made by such Secured Party; provided, however, that the failure to give such notice shall not affect the validity
of such set-off and application except as provided in applicable law. 
  

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 Section 6. No Subrogation; Subordination. Notwithstanding any payment made by
any Subsidiary Guarantor hereunder or the set-off or application of funds of such Subsidiary Guarantor by the Administrative Agent or any Secured Party, no Subsidiary Guarantor shall be entitled to be subrogated to any of the rights of the
Administrative Agent or any Secured Party against the Borrowers or any other Guarantor or any collateral security or guarantee or right of offset held by the Administrative Agent or any Secured Party for the payment of the Obligations, nor shall any
Subsidiary Guarantor be entitled to seek any contribution or reimbursement from the Borrowers or any other Guarantor in respect of payments made by such Subsidiary Guarantor hereunder, until all amounts owing to the Administrative Agent and the
Secured Parties by the Loan Parties on account of the Obligations (other than any indemnity and other contingent Obligations) are paid in full, and no Letter of Credit shall be outstanding. If any amount shall be paid to any Subsidiary Guarantor on
account of such subrogation rights at any time when all of the Obligations (other than any indemnity and other contingent Obligations) shall not have been paid in full, such amount shall be held by such Subsidiary Guarantor in trust for the
Administrative Agent and the Secured Parties, segregated from other funds of such Subsidiary Guarantor, and shall, forthwith upon receipt by such Subsidiary Guarantor, be turned over to the Administrative Agent in the exact form received by such
Subsidiary Guarantor (duly indorsed by such Subsidiary Guarantor to the Administrative Agent, if required), to be applied against the Obligations, whether matured or unmatured, in such order as is consistent with the Credit Agreement. The payment of
any amounts due with respect to any Indebtedness of the Borrowers or any Guarantor now or hereafter owing to any Subsidiary Guarantor by reason of any payment by such Subsidiary Guarantor under its guarantee hereunder is hereby subordinated to the
prior payment in full in cash of the Obligations (other than any indemnity and other contingent Obligations). Each Subsidiary Guarantor agrees that it will not demand, sue for or otherwise attempt to collect any such Indebtedness of the Borrowers or
such other Guarantor to such Subsidiary Guarantor until the Obligations shall have been paid in full in cash (other than any indemnity and other contingent Obligations). If, notwithstanding the foregoing sentence, any Subsidiary Guarantor shall,
prior to the indefeasible payment in full in cash of the Obligations (other than any indemnity and other contingent Obligations), collect, enforce or receive any amounts in respect of such Indebtedness, such amounts shall be collected, enforced and
received by such Subsidiary Guarantor as trustee for the Secured Parties and be paid over to the Administrative Agent on account of the Obligations without affecting in any manner the liability of such Subsidiary Guarantor under the other provisions
of its guarantee contained herein. 
 Section 7. Amendments, etc. with Respect to the Obligations. Each Subsidiary
Guarantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any other Guarantor and without notice to or further assent by any other Guarantor, any demand for payment of any of the Obligations made by
the Administrative Agent or any Secured Party may be rescinded by the Administrative Agent or such Secured Party and any of the Obligations continued, and the Obligations, or the liability of any other

  

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person upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended,
amended, modified, accelerated, compromised, waived, surrendered or released by the Administrative Agent or any Secured Party, and the Credit Agreement, the other Credit Documents, any other documents executed and delivered in connection therewith
may be amended, modified, supplemented or terminated, in whole or in part, as the Administrative Agent may deem advisable from time to time, and any collateral security, guarantee or right of offset at any time held by the Administrative Agent or
any Secured Party for the payment of the Obligations may be sold, exchanged, waived, surrendered or released. The obligations hereunder of each Subsidiary Guarantor shall not be affected by any failure by the Administrative Agent or any Secured
Party to protect, secure, perfect or insure any Lien at any time held by it as security for the Obligations or for the guarantee contained in this Guarantee or any property subject thereto. 
 Section 8. Guarantee Absolute and Unconditional. Each Subsidiary Guarantor waives any and all notice of the creation, renewal,
extension or accrual of any of the Obligations and notice of or proof of reliance by the Administrative Agent or any Secured Party upon the guarantee contained in this Guarantee or acceptance of the guarantee contained in this Guarantee; the
Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred, or renewed, extended, amended or waived, in reliance upon the guarantee contained in this Guarantee; and all dealings between the Borrowers and
any of the other Credit Parties, on the one hand, and the Administrative Agent and the Secured Parties, on the other hand, likewise shall be conclusively presumed to have been had or consummated in reliance upon the guarantee contained in this
Guarantee. Each Subsidiary Guarantor waives except to the extent that any such waiver would be expressly prohibited by law, diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Borrowers or any of
the other Guarantors with respect to the Obligations. Each Subsidiary Guarantor understands and agrees that its guarantee contained herein shall be construed as a continuing, absolute and unconditional guarantee of payment without regard to
(a) the validity or enforceability of the Credit Agreement or any other Credit Document, any of the Obligations or any other collateral security therefor or guarantee or right of offset with respect thereto at any time or from time to time held
by the Administrative Agent or any Secured Party, (b) any defense, set-off or counterclaim (other than a defense of payment or performance and solely after the final payment in full in cash of the Obligations other than indemnity and other
contingent liabilities not yet due and payable, a defense arising from or in connection with the bad faith, gross negligence or willful misconduct of any Secured Party in respect of an indemnity Obligation) which may at any time be available to or
be asserted by any Borrower or any other person against the Administrative Agent or any Secured Party, or (c) any other circumstance whatsoever (with or without notice to or knowledge of the Borrowers or such Subsidiary Guarantor) which
constitutes, or might be construed to constitute, an equitable or legal discharge of Borrowers for the Obligations, or of such Subsidiary

  

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Guarantor under its guarantee contained herein, in bankruptcy or in any other instance. When making any demand hereunder or otherwise pursuing its rights and remedies hereunder against any
Subsidiary Guarantor, the Administrative Agent or any Secured Party may, but shall be under no obligation to, make a similar demand on or otherwise pursue such rights and remedies as it may have against any Borrower, any other Guarantor or any other
person or against any collateral security or guarantee for any Obligations or any right of offset with respect thereto, and any failure by the Administrative Agent or any Secured Party to make any such demand, to pursue such other rights or remedies
or to collect any payments from any Borrower, any other Subsidiary Guarantor or any other person or to realize upon any such collateral security or guarantee or to exercise any such right of offset, or any release of any Borrower, any other
Guarantor or any other person or any such collateral security, guarantee or right of offset, shall not relieve such Subsidiary Guarantor of any obligation or liability hereunder, and shall not impair or affect the rights and remedies, whether
express, implied or available as a matter of law, of the Administrative Agent or any Secured Party against such Subsidiary Guarantor For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

 Section 9. Reinstatement. The guarantee contained herein shall continue to be effective, or be reinstated, as the
case may be, if and to the extent at any time payment, or any part thereof, of any of the Obligations is rescinded or must otherwise be restored or returned by the Administrative Agent or any Secured Party upon the insolvency, bankruptcy,
dissolution, liquidation or reorganization of the Borrowers or any Guarantor, or upon or as a result of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer for, the Borrowers or any Guarantor or any substantial
part of its property, or otherwise, all as though such payments had not been made. Each Subsidiary Guarantor agrees that it will indemnify, on a joint and several basis, each Secured Party on written demand (as invoiced in reasonable detail) for all
reasonable costs and expenses (including reasonable fees of external counsel) incurred by such Secured Party in connection with such rescission or restoration, including any such costs and expenses incurred in defending against any claim alleging
that such payment constituted a preference, fraudulent transfer or similar payment under any bankruptcy, insolvency or similar law, other than any costs or expenses resulting from the gross negligence, willful misconduct or bad faith of such Secured
Party. 
 Section 10. Payments. Each Subsidiary Guarantor hereby guarantees that payments hereunder will be paid to
the Administrative Agent without set-off or counterclaim in U.S. Dollars at the Administrative Agent’s office. 
 Section 11. Concerning the Administrative Agent. 
 (a) The Administrative Agent has been
appointed as Administrative Agent pursuant to the Credit Agreement. The actions of the Administrative Agent hereunder are subject to the provisions of the Credit Agreement. The Administrative Agent shall

  

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have the right hereunder to make demands, to give notices, to exercise or refrain from exercising any rights, and to take or refrain from taking action in accordance with this Guarantee and the
Credit Agreement. The Administrative Agent may resign and a successor Administrative Agent may be appointed in the manner provided in the Credit Agreement. Upon the acceptance of any appointment as the Administrative Agent by a successor
Administrative Agent, that successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent under this Guarantee, and the retiring Administrative
Agent shall thereupon be discharged from its duties and obligations under this Guarantee, After any retiring Administrative Agent’s resignation, the provisions hereof shall inure to its benefit as to any actions taken or omitted to be taken by
it under this Guarantee only while it was the Administrative Agent. 
 (b) The Administrative Agent shall be
entitled to rely upon any written notice, statement, certificate, order or other document or any telephone message believed by it to be genuine and correct and to have been signed, sent or made by the proper person, and, with respect to all matters
pertaining to this Guarantee and its duties hereunder, upon advice of counsel selected by it. 
 (c) With respect
to any of its rights and obligations as a Lender, the Administrative Agent shall have and may exercise the same rights and powers hereunder. The term “Lenders,” “Lender” or any similar terms shall, unless the context clearly
otherwise indicates, include Administrative Agent in its individual capacity as a Lender. 
 (d) Each Subsidiary
Guarantor authorizes the Administrative Agent (on behalf of itself and the other Secured Parties) to (i) take and hold security for the payment of this Guarantee and the Obligations and exchange, enforce, waive, release any such security in
accordance with the terms of the Security Agreement (ii) apply such security and direct the order or manner of sale thereof in accordance with the terms of the Credit Agreement and the Security Agreement and (iii) release or substitute any
one or more endorsers, other guarantors or other obligors. Payment under this Guarantee is secured by the pledges and encumbrances of Collateral pursuant to the Security Agreement in accordance with the Credit Agreement. Reference is hereby made to
the Credit Agreement for a description of the Collateral pledged and the right of the respective parties to such property, to secure all the obligations of each Subsidiary Guarantor hereunder. 
 Section 12. Expenses. Each Subsidiary Guarantor will, upon demand pay to the Administrative Agent the amount of any and all
reasonable out-of-pocket costs and expenses, including the reasonable out-of-pocket fees and expenses of its external counsel and the reasonable out-of-pocket fees and expenses of any agents which the Administrative Agent

  

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may incur in connection with (i) the collection of the Obligations, (ii) the enforcement and administration hereof, (iii) the exercise or enforcement of any of the rights of the
Administrative Agent or any Secured Party hereunder or (iv) the failure by any Subsidiary Guarantor to perform or observe any of the provisions hereof. All amounts expended by the Administrative Agent and payable by any Subsidiary Guarantor
under this Section 12 shall be due promptly upon demand therefor but in any event within 2 Business Days (together with interest thereon accruing at the rate per annum equal to the highest interest rate then payable under the Credit Agreement
during the period from, and including, the date on which such funds were so expended to the date of repayment) and shall be part of the Obligations. Each of the Guarantor’s obligations under this Section 12 shall be joint and several and
shall survive the termination hereof and the discharge of any Subsidiary Guarantor’s other obligations under this Guarantee, the Credit Agreement, any Interest Rate Agreement and the other Credit Documents. 
 Section 13. Termination; Release. When all the Obligations (other than indemnity and other contingent Obligations) have been
paid in full and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit under the Credit Agreement shall have expired or been sooner terminated, this Guarantee shall terminate. If all of the Capital Stock of any Subsidiary
Guarantor is sold, transferred or otherwise disposed of pursuant to a transaction permitted by the Credit Agreement, such Subsidiary Guarantor shall be released from its obligations under this Guarantee without any further action. This Guarantee
shall be construed as a separate agreement with respect to each Subsidiary Guarantor and may be amended, modified, supplemented, waived or released with respect to any Subsidiary Guarantor without the approval of any other Subsidiary Guarantor and
without affecting the obligations of any other Subsidiary Guarantor hereunder. 
 Section 14. Modification in
Writing. No amendment, modification, supplement, termination or waiver of or to any provision hereof, nor consent to any departure by any Subsidiary Guarantor therefrom, shall be effective unless the same shall be made in accordance with the
terms of the Credit Agreement and unless in writing and signed by the Administrative Agent and each Subsidiary Guarantor. Any amendment, modification or supplement of or to any provision hereof, any waiver of any provision hereof and any consent to
any departure by any Subsidiary Guarantor from the terms of any provision hereof shall be effective only in the specific instance and for the specific purpose for which made or given. Except where notice is specifically required by this Guarantee or
any other Credit Document, no notice to or demand on any Subsidiary Guarantor in any case shall entitle such Subsidiary Guarantor to any other or further notice or demand in similar or other circumstances. 
 Section 15. Notices. Unless otherwise provided herein or in the Credit Agreement, any notice or other communication herein
required or permitted to be given shall be given in the manner and become effective as set forth in the Credit Agreement, as to any

  

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Subsidiary Guarantor, addressed to it at the address of the Borrowers set forth in the Credit Agreement and as to the Administrative Agent, addressed to it at the address set forth in the Credit
Agreement, or in each case at such other address as shall be designated by such party in a written notice to the other party complying as to delivery with the terms of this Section 15. 
 Section 16. GOVERNING LAW. THIS GUARANTEE AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO SHALL BE GOVERNED BY, AND SHALL
BE CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 Section 17. Severability of
Provisions. Any provision of this Guarantee that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 Section 18. Execution in Counterparts. This Guarantee and any amendments, waivers, consents or supplements hereto may be executed in any number of counterparts, each of which when so executed
and delivered shall be deemed to be an original, but all such counterparts together shall constitute one and the same agreement. 
 Section 19. Business Days. In the event any time period or any date provided in this Guarantee ends or falls on a day other than a Business Day, then such time period shall be deemed to end and such date shall be deemed to fall
on the next succeeding Business Day, and performance herein may be made on such Business Day, with the same force and effect as if made on such other day. 
 Section 20. Relationship. The relationship of the Administrative Agent to any Subsidiary Guarantor hereunder is strictly and solely that of guarantor and secured party and nothing contained in
the Credit Agreement, this Guarantee, any Interest Rate Agreement or any other document or instrument now existing and delivered in connection therewith or otherwise in connection with the Obligations is intended to create, or shall in any event or
under any circumstance be construed as creating a partnership, joint venture, tenancy-in-common, joint tenancy or other relationship of any nature whatsoever between the Administrative Agent and such Subsidiary Guarantor other than as lender and
borrower. 
 Section 21. Waiver of Stay. Each Subsidiary Guarantor agrees that in the event that it shall hereafter
become the subject of a voluntary or involuntary proceeding under the Bankruptcy Code or that it shall otherwise be a party to any Federal or state bankruptcy, insolvency, moratorium or similar proceeding to which the provisions relating to the
automatic stay under Section 362 of the Bankruptcy Code or any similar provision in any such law

  

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is applicable, then, in any such case, the Administrative Agent shall be entitled to relief from any such automatic stay as it relates to the exercise of any of the rights and remedies available
to the Administrative Agent as provided in this Guarantee or in any other Credit Document. 
 Section 22. Additional
Guarantors. Pursuant to subsection 7.9 of the Credit Agreement, each Subsidiary that was not in existence or not a Qualified Subsidiary on the date of the Credit Agreement is required, under certain circumstances, to enter into this Guarantee as
a Subsidiary Guarantor upon becoming a Qualified Subsidiary. Upon execution and delivery after the date hereof by the Administrative Agent and such a Subsidiary of an instrument (a “Supplement”), in form and substance reasonably
satisfactory to the Administrative Agent, such Subsidiary shall become a Subsidiary Guarantor hereunder with the same force and effect as if originally named as a Subsidiary Guarantor herein. The execution and delivery of any Supplement adding an
additional Subsidiary Guarantor as a party to this Guarantee shall not require the consent of any other Subsidiary Guarantor hereunder. The rights and obligations of each Subsidiary Guarantor hereunder shall remain in full force and effect
notwithstanding the additional of any new Subsidiary Guarantor as a party to this Guarantee. 
  

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

			
	 LANGUAGE LINE HOLDINGS II, INC.
 LANGUAGE LINE HOLDINGS III, INC,
 LANGUAGE LINE HOLDINGS, INC.
 LANGUAGE LINE, INC.
 COTO HOLDINGS LLC
 COTO GLOBAL SOLUTIONS LLC
 TELE-INTERPRETERS LLC

 COTO LANGUAGE SERVICES, LLC
 LINGO
SYSTEMS, LLC
 LANGUAGE LINE SERVICES, INC.
 ON LINE INTERPRETERS, INC.
 ENVOK, LLC
 LANGUAGE LINE PANAMA, LLC
 LANGUAGE LINE COSTA RICA, LLC
 LANGUAGE LINE DOMINICAN REPUBLIC, LLC

	
	 as Subsidiary Guarantors

		
	By:	 	/s/ Michael Schmidt
		 	Name: Michael Schmidt
		 	Title: Chief Financial Officer

  

 [Subsidiary Guarantee] 

			
	 Bank of America, N.A.,
as Administrative Agent

		
	By:	 	/s/ Antonikia (Toni) Thomas
		 	Name: Antonikia (Toni) Thomas
		 	Title: Assistant Vice President

  

 [Subsidiary Guarantee]Amended and Restated Limited Liability Company Agreement

 Exhibit 10.11 
 EXECUTION COPY 
 AMENDED AND RESTATED 

LIMITED LIABILITY COMPANY AGREEMENT 
 OF 
 LANGUAGE LINE HOLDINGS, LLC 
 A Delaware Limited Liability Company 
 Dated as of June 11, 2004 

 TABLE OF CONTENTS 
  

					
	ARTICLE I Definitions	  	1
	 1.1
	  	Definitions	  	1
	 1.2
	  	Other Definitional Provisions	  	16
		
	ARTICLE II Organization of the Company	  	16
	 2.1
	  	Formation	  	16
	 2.2
	  	Name	  	16
	 2.3
	  	Principal Place of Business	  	17
	 2.4
	  	Registered Office and Registered Agent	  	17
	 2.5
	  	Term	  	17
	 2.6
	  	Purposes and Powers	  	17
		
	ARTICLE III Management of the Company	  	17
	 3.1
	  	Board of Directors	  	17
	 3.2
	  	Committees of the Board	  	20
	 3.3
	  	Officers	  	20
	 3.4
	  	Performance of Duties; Liability of Directors and Officers	  	22
	 3.5
	  	Indemnification	  	22
		
	ARTICLE IV Members; Voting Rights	  	23
	 4.1
	  	Meetings of Members	  	23
	 4.2
	  	Voting Rights	  	23
	 4.3
	  	Registered Members	  	24
	 4.4
	  	Limitation of Liability	  	24
	 4.5
	  	Withdrawal; Resignation	  	24
	 4.6
	  	Death of a Member	  	24
	 4.7
	  	Authority	  	24
	 4.8
	  	Outside Activities	  	25
		
	ARTICLE V Units; Membership	  	25
	 5.1
	  	Units Generally	  	25
	 5.2
	  	Authorization and Issuance of Units	  	25
	 5.3
	  	Unit Certificates	  	26
	 5.4
	  	Issuance of Units	  	26
	 5.5
	  	New Members from the Issuance of Units	  	26
	 5.6
	  	Treatment of Repurchased Class C Common Units	  	26
	 5.7
	  	Effect on Dilution Factor of Certain Events	  	26
	 5.8
	  	Determination of Class D Common Redemption Price	  	28
		
	ARTICLE VI Capital Contributions and Capital Accounts	  	29
	 6.1
	  	Capital Contributions	  	29
	 6.2
	  	Capital Accounts	  	29
	 6.3
	  	Negative Capital Accounts	  	31
	 6.4
	  	No Withdrawal	  	31

  

 -i- 

					
	 6.5
	  	Loans From Unitholders	  	31
	 6.6
	  	Status of Capital Contributions.	  	31
		
	ARTICLE VII Distributions	  	31
	 7.1
	  	Generally	  	31
	 7.2
	  	Order of Priority	  	31
	 7.3
	  	No Right to Receive Certain Distributions	  	33
	 7.4
	  	Tax Advances	  	34
	 7.5
	  	Indemnification and Reimbursement for Payments on Behalf of a Unitholder	  	34
	 7.6
	  	Non-Cash Distributions	  	35
	 7.7
	  	Redemption of Series A Preferred Units	  	35
		
	ARTICLE VIII Allocations	  	35
	 8.1
	  	Regular Allocations	  	35
	 8.2
	  	Regulatory and Special Allocations	  	37
	 8.3
	  	Curative Allocations	  	38
	 8.4
	  	Tax Allocations	  	38
	 8.5
	  	Certain General Provisions	  	39
		
	ARTICLE IX Elections and Reports	  	39
	 9.1
	  	Generally	  	39
	 9.2
	  	Tax Status	  	39
	 9.3
	  	Reports	  	39
	 9.4
	  	Tax Elections	  	39
	 9.5
	  	Tax Controversies	  	39
	 9.6
	  	UBTI/ECI	  	40
		
	ARTICLE X Dissolution and Liquidation	  	40
	 10.1
	  	Dissolution	  	40
	 10.2
	  	Liquidation	  	41
		
	ARTICLE XI Transfer of Units	  	42
	 11.1
	  	Restrictions	  	42
	 11.2
	  	General Restrictions on Transfer	  	42
	 11.3
	  	Procedures for Transfer	  	43
	 11.4
	  	Legend	  	43
	 11.5
	  	Limitations	  	44
		
	ARTICLE XII Miscellaneous Provisions	  	45
	 12.1
	  	Notices	  	45
	 12.2
	  	Governing Law	  	45
	 12.3
	  	Headings and Sections	  	46
	 12.4
	  	Amendment and Waiver	  	46
	 12.5
	  	Binding Effect	  	48
	 12.6
	  	Counterparts	  	48
	 12.7
	  	Severability	  	49

  

 -ii- 

					
	 12.8
	  	Remedies	  	49
	 12.9
	  	Waiver of Jury Trial	  	49
	 12.10
	  	No Strict Construction	  	49
	 12.11
	  	Entire Agreement	  	49
	 12.12
	  	Parties in Interest	  	49
	 12.13
	  	Inconsistent Provisions of the Members Agreement	  	50
	 12.14
	  	Submission to Jurisdiction	  	50
	 12.15
	  	Time of the Essence; Computation of Time	  	50
	 12.16
	  	Certain Terms	  	50
	
	EXHIBITS:
			
	Exhibit A	  	Form of Joinder to Amended and Restated Limited Liability Company Agreement	  	
			
	Exhibit B	  	Distribution Examples	  	
	
	SCHEDULES:
			
	Schedule A	  	Officers of the Company as of June 11, 2004	  	
			
	Schedule B	  	Members Schedule as of June 11, 2004	  	

  

 -iii- 

 AMENDED AND RESTATED 
 LIMITED LIABILITY COMPANY AGREEMENT 
 OF

 LANGUAGE LINE HOLDINGS, LLC 
 AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT (this “Agreement”) dated as of June 11, 2004 of Language Line Holdings, LLC, a Delaware limited liability company (the
“Company”), by and among the Company and the Persons from time to time parties to this Agreement and listed on the Members Schedule attached hereto. Capitalized terms used herein and not otherwise defined herein shall have the
meanings assigned to such terms in Section 1.1. 
 WHEREAS, on the date hereof, the Company will issue
(i) Series A Preferred Units and Class D Common Units pursuant to the terms of the Preferred Securities Purchase Agreement, (ii) Class A Common Units pursuant to the terms of the Investors Securities Purchase Agreement, and
(iii) Class C Common Units pursuant to the terms of the Incentive Unit Agreements; 
 WHEREAS, the Persons acquiring Units
on the date hereof as described in clauses (i) through (iii) in the immediately preceding recital shall be admitted as Members of the Company; and 
 WHEREAS, this Agreement amends and restates in its entirety the Limited Liability Company Agreement of Language Line Holdings, LLC dated as of April 14, 2004 (the “Existing
Agreement”). 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements herein made and other good and
valuable consideration, the parties hereto hereby amend and restate the Existing Agreement in its entirety as follows: 
 ARTICLE I 
 Definitions 
 1.1 Definitions. The following terms used in this Agreement shall have the following meanings (unless otherwise expressly provided in this Agreement): 
 “ABRY Directors” has the meaning set forth in the Members Agreement. 
 “ABRY Partners” means ABRY Partners IV, L.P., a Delaware limited partnership. 
 “Adjusted Capital Account Deficit” means, with respect to any Capital Account as of the end of any Fiscal Year or other
period, the amount (if any) by which the balance in such Capital Account is less than zero. For this purpose, such Person’s Capital Account balance will be (a) reduced for any items described in Treasury Regulation
Section 1.704-1(b)(2)(ii)(d)(4), (5), and (6), and (b) increased for any amount such Person is obligated to contribute to the Company or is treated as being so obligated pursuant to Treasury Regulation
Section 1.704-1(b)(2)(ii)(c) (relating to partner liabilities to a partnership) or 1.704-2(g)(1) and 1.704-2(i) (relating to minimum gain). 

 “Adjusted Taxable Income” of a Unitholder for a Fiscal Year (or portion
thereof) with respect to Units held by such Unitholder means the federal taxable income allocated by the Company to the Unitholder with respect to such Units (as adjusted by any final determination in connection with any tax audit or other
proceeding) for such Fiscal Year (or portion thereof); provided that such taxable income (or alternative minimum taxable income, as the case may be) shall be computed (i) as if all excess taxable losses and excess taxable credits
allocated with respect to such Units were carried forward (taking into account the character of any such loss carryforward as capital or ordinary), and (ii) taking into account any special basis adjustment with respect to such Unitholder
resulting from an election by the Company under Code Section 754. 
 “Affiliate” means with respect to any
Person, any other Person controlling, controlled by, or under common control with such first Person. For the purpose of this definition, “control,” when used with reference to any specified Person, means the power to direct the management
and policies of such specified Person, directly or indirectly, whether through the ownership of voting securities or partnership or other ownership interests, by contract or otherwise; and the terms “controlling” and “controlled”
have meanings correlative to the foregoing. 
 “Agreement” has the meaning set forth in the preamble.

 “AMP” means ABRY Mezzanine Partners, L.P., a Delaware limited partnership. 
 “Bankruptcy” means, with respect to a Member, (i) that such Member has (A) made an assignment for the benefit of
creditors; (B) filed a voluntary petition in bankruptcy; (C) been adjudged bankrupt or insolvent, or had entered against such Member an order of relief in any bankruptcy or insolvency proceeding; (D) filed a petition or an answer
seeking for such Member any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any statute, law or regulation or filed an answer or other pleading admitting or failing to contest the material
allegations of a petition filed against such Member in any proceeding of such nature; or (E) sought, consented to, or acquiesced in the appointment of a trustee, receiver or liquidation of such Member or of all or any substantial part of such
Member’s properties; (ii) 120 days have elapsed after the commencement of any proceeding against such Member seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any statute, law
or regulation and such proceeding has not been dismissed; or (iii) 90 days have elapsed since the appointment without such Member’s consent or acquiescence of a trustee, receiver or liquidator of such Member or of all or any substantial
part of such Member’s properties and such appointment has not been vacated or stayed or the appointment is not vacated within 90 days after the expiration of such stay. 
 “Board” has the meaning set forth in Section 3.1(a). 
 “Book Value” means, with respect to any Company asset, the adjusted basis of such asset for federal income tax purposes,
except as follows: 
 (a) The initial Book Value of any Company asset contributed by a Unitholder to the Company
shall be the gross Fair Market Value of such Company asset as of the date of such contribution; 
  

 - 2 - 

 (b) The Book Value of each Company asset shall be adjusted to equal its
gross Fair Market Value, as of the following times: (i) the acquisition of an additional interest in the Company by any new or existing Unitholder in exchange for more than a de minimis Capital Contribution; (ii) the distribution by
the Company to a Unitholder of more than a de minimis amount of Company assets (other than cash) as consideration for all or part of its Units unless the Board determines that such adjustment is not necessary to reflect the relative economic
interests of the Unitholders in the Company; and (iii) the liquidation of the Company within the meaning of Treasury Regulations Section 1.704-1(b)(2)(ii)(g); 
 (c) The Book Value of a Company asset distributed to any Unitholder shall be the Fair Market Value of such Company asset as
of the date of distribution thereof; 
 (d) The Book Value of each Company asset shall be increased or decreased,
as the case may be, to reflect any adjustments to the adjusted basis of such Company asset pursuant to Section 734(b) or Section 743(b) of the Code, but only to the extent that such adjustments are taken into account in determining Capital
Account balances pursuant to Treasury Regulations Section § 1.704-1(b)(2)(iv)(m); provided that Book Values shall not be adjusted pursuant to this subparagraph (d) to the extent that an adjustment pursuant to subparagraph
(b) above is made in conjunction with a transaction that would otherwise result in an adjustment pursuant to this subparagraph (d); and 
 (e) If the Book Value of a Company asset has been determined or adjusted pursuant to subparagraph (a), (b) or (d) above, such Book Value shall thereafter be adjusted to reflect the Depreciation
taken into account with respect to such Company asset for purposes of computing Profits and Losses. 
 “Business
Day” means any day other than a Saturday, Sunday or day on which commercial banks in New York, New York are authorized or required by law to close. 
 “Call Agreement” means the Capital Call Agreement, dated as of the date hereof, among ABRY Partners, the Company, Language Line Holdings II, Inc., Merrill, New York Life, and AMP, as
amended, restated or otherwise modified from time to time. 
 “Capital Account” means the capital account
maintained for a Member pursuant to Section 6.2. 
 “Capital Contribution” means any contribution
to the capital of the Company in cash or property by a Member, whenever made. 
 “Catch-Up Amount” at any time
means the largest aggregate amount of Distributions (on a per-Point basis) which has theretofore been paid in respect of any single Common Unit. 
 “CEO Director” has the meaning set forth in the Members Agreement. 
 “Certificate” has the meaning set forth in Section 2.1. 
 “Chairman” has
the meaning set forth in Section 3.1(f). 
  

 - 3 - 

 “Class A Common Unit” means a Unit having the rights and obligations
specified with respect to “Class A Common Units” in this Agreement. 
 “Class B Common Unit” means a
Unit having the rights and obligations specified with respect to “Class B Common Units” in this Agreement. 
 “Class C Common Unit” means a Class C-1 Common Unit, a Class C-2 Common Unit, a Class C-3 Common Unit, or any other Unit of any Series of Class C Common Units established in any Class C Common Unit Designation. 

“Class C Common Unit Designation” means a written designation of the rights and obligations specified for a Series of
Class C Common Units (or for more than one Series of Class C Common Units), other than Class C-1 Common Units, Class C-2 Common Units or Class C-3 Common Units, that is approved by the Board and executed (including by means of a joinder) by the
initial holder or holders of Class C Common Units of such Series, which written designation (as in effect from time to time) will be a part of this Agreement as if it were fully set forth in this document. 
 “Class C-1 Common Unit” means a Unit having the rights and obligations specified with respect to “Class C-1 Common
Units” in this Agreement. 
 “Class C-2 Common Unit” means a Unit having the rights and obligations
specified with respect to “Class C-2 Common Units” in this Agreement. 
 “Class C-3 Common Unit”
means a Unit having the rights and obligations specified with respect to “Class C-3 Common Units” in this Agreement. 
 “Class D Common Unit” means a Unit having the rights and obligations specified with respect to a “Class D Common Unit” in this Agreement. 
 “Class D Majority” means holders of a majority of the Class D Common Units; provided that such approving holders must
include at least one Continuing Class D Common Holder if at the time such action is approved there is any Continuing Class D Common Holder. 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time. 
 “Common Capital Value” means, for any Class A Common Unit, the sum of the amount of cash paid or the Fair Market Value of other property contributed to the Company for such
Class A Common Unit. The Common Capital Value for each Class A Common Unit issued on the date of this Agreement is $1.00. 
 “Common Units” means, collectively, the Class A Common Units, the Class B Common Units, the Class C Common Units, and the Class D Common Units and any New Units of any Class that are stated to be Common Units in the
applicable New Unit Designation. 
 “Company” has the meaning set forth in the preamble. 
  

 - 4 - 

 “Company Minimum Gain” has the meaning set forth for “partnership
minimum gain” in Treasury Regulation Section 1.704-2(d). 
 “Continuing Class A Common
Holder” means (i) Merrill, at any time when Merrill, together with its Affiliates, holds Class A Common Units that constitute a majority of the Class A Common Units acquired by Merrill on the date of this Agreement, or
(ii) New York Life, at any time when New York Life, together with its Affiliates, holds Class A Common Units that constitute a majority of the Class A Common Units acquired by New York Life on the date of this Agreement. 

 “Continuing Class D Common Holder” means (i) Merrill, at any time when Merrill, together
with its Affiliates, holds Class D Common Units that constitute a majority of the Class D Common Units acquired by Merrill on the date of this Agreement, or (ii) New York Life, at any time when New York Life, together with its Affiliates, holds
Class D Common Units that constitute a majority of the Class D Common Units acquired by New York Life on the date of this Agreement.  
 “Continuing Series A Preferred Holder” means (i) Merrill, at any time when Merrill, together with its Affiliates, holds Series A Preferred Units that constitute a majority of
the Series A Preferred Units acquired by Merrill on the date of this Agreement, or (ii) New York Life, at any time when New York Life, together with its Affiliates, holds Series A Preferred Units that constitute a majority of the Series A
Preferred Units acquired by New York Life on the date of this Agreement.  
 “Convertible Securities”
means any membership interest or other debt or equity security of the Company or any of its Subsidiaries that, directly or indirectly, is convertible into or exchangeable for any membership interest of the Company having Points. 
 “Delaware Act” means the Delaware Limited Liability Company Act, as the same may be amended from time to time. 

“Depreciation” means, for each Fiscal Year, an amount equal to the depreciation, amortization, or other cost recovery
deduction allowable with respect to an asset for such Fiscal Year, except that if the Book Value of an asset differs from its adjusted basis for federal income tax purposes at the beginning of such Fiscal Year, Depreciation shall be an amount which
bears the same ratio to such beginning Book Value as the federal income tax depreciation, amortization, or other cost recovery deduction for such Fiscal Year bears to such beginning adjusted tax basis; provided that if the adjusted basis for
federal income tax purposes of an asset at the beginning of such Fiscal Year is zero and the Book Value of the asset is positive, Depreciation shall be determined with reference to such beginning Book Value using any permitted method selected by the
Board. 
 “Dilution Factor” shall initially be 1.00, provided that upon the occurrence of a Dilutive
Event the “Dilution Factor” shall be adjusted to the number equal to the quotient determined by dividing: 
 (A) the sum of (i) the Fair Market Value (as determined by the Board) of all of the Units having Points and outstanding immediately prior to such Dilutive Event (on a

  

 - 5 - 

 
fully-diluted basis) and (ii) the Fair Market Value of the newly issued Units or the incremental Points, as the case may be, that constitutes such Dilutive Event; by 
 (B) the sum of (i) the consideration, if any, received by the Company and/or its Subsidiaries as a result of such
Dilutive Event, and (ii) the amount described in clause (A)(i) above; 
 provided that for purposes of illustration only, Exhibit
B sets forth an example of the application of the provisions of Section 7.2 following a Dilutive Event and a corresponding adjustment of the Dilution Factor. 
 “Dilutive Event” means any event (other than a Permitted Dilutive Event) pursuant to which the aggregate number of Points
represented by the outstanding Units increases (whether by reason of the issuance of Units having Points, or the making of a Capital Contribution which results in the Points represented by any previously outstanding Unit being increased), or is
deemed to have increased as provided in Section 5.7, if less than Fair Market Value (as determined by the Board) is received by the Company and its Subsidiaries with respect to the such increase in Points; provided,
however, that the Board’s good faith determination of the Fair Market Value of any such additional Units having Points or of such incremental Points shall be described in reasonable detail in a written notice (a “FMV
Notice”) to holders of Class D Common Units given not less than 30 days prior to the effective date of any such Dilutive Event; provided, further, that if any Outside Class D Majority reasonably asserts that the aggregate Fair
Market Value of such additional Units or of the incremental Points in question exceeds $2,000,000 and such Outside Class D Majority provides the Company with written notice, delivered within 15 days of their receiving the applicable FMV Notice, to
the effect that they believe the Fair Market Value of such additional Units or incremental Points is greater than that described in the FMV Notice, the Company shall (unless the Company (with the approval or ratification by the Board) and any
Outside Class D Majority otherwise agree in writing as to the Fair Market Value of such additional Units or incremental Points, in which case such determination will be binding upon the Company, the holders of Outside Investor Class D Common Units
and all other holders of Units) engage an Independent Financial Advisor reasonably acceptable to the Company and any Outside Class D Majority to determine the Fair Market Value of such additional Units or incremental Points and such determination
shall be binding upon the Company, the holders of Outside Investor Class D Common Units and all other holders of Units. The fees, costs and expenses of the Independent Financial Advisor shall be borne (i) if the Fair Market Value as determined
by the Independent Financial Advisor exceeds the Fair Market Value as determined by the Board, then by the Company and (ii) if the Fair Market Value as determined by the Independent Financial Advisor is equal to or less than the Fair Market
Value as determined by the Board, then by the holders of Outside Investor Class D Common Units (pro rata among such holders based upon the number of Class D Common Units held by them). The Company will use good faith efforts timely to deliver
each FMV Notice; provided that the Company’s failure to timely deliver a FMV Notice will not affect the validity of the related issuance of Units or increase in Points and, if the Company does not timely deliver any FMV Notice and any
Outside Class D Majority reasonably asserts that the aggregate Fair Market Value of such additional Units or of the incremental Points in question exceeds $2,000,000, then such Outside Class D Majority may dispute the Board’s determination of
Fair Market Value for the issuance or increase in question at any time on or prior to the 15th day after the Company actually gives the holders of Outside Investor Class D Common Units an FMV Notice for such issuance or increase. 
  

 - 6 - 

 “Directors” has the meaning set forth in Section 3.1(a).

 “Distribution” means each distribution made by the Company to a Member, whether in cash, securities of the
Company or other property and whether by liquidating distribution, redemption, repurchase or otherwise; provided that none of the following will be a Distribution: (a) any redemption or repurchase by the Company of any Unit from any
employee or former employee of the Company or any Subsidiary of the Company which is approved by the Board, (b) any recapitalization or exchange of securities of the Company that does not violate terms of the Related Agreements, and
(c) any subdivision (by Unit split or otherwise) or any combination (by reverse Unit split or otherwise) of any outstanding Units that does not violate terms of the Related Agreements. 
 “Dracup Trusts” means the Dennis G. Dracup Declaration of Trust dated January 19, 1999 and the Christine L. Dracup
Declaration of Trust dated January 19, 1999. 
 “Equity Securities” of a Person means, as applicable,
(i) any capital stock, membership interests or other share capital of such Person, (ii) any securities of such Person directly or indirectly convertible into or exchangeable for any capital stock, membership interests or other share
capital (whether voting or non-voting, whether preferred, common or otherwise) of such Person or containing any profit participation features with respect to such Person, (iii) any rights or options directly or indirectly to subscribe for or to
purchase any capital stock, membership interests, other share capital of such Person or securities containing any profit participation features with respect to such Person or directly or indirectly to subscribe for or to purchase any securities
directly or indirectly convertible into or exchangeable for any capital stock, membership interests, other share capital of such Person or securities containing any profit participation features with respect to such Person, (iv) any share or
Unit appreciation rights, phantom share or Unit rights, contingent interest or other similar rights relating to such Person, or (v) any Equity Securities of such Person issued or issuable with respect to the securities referred to in clauses
(i) through (iv) above in connection with a combination of Units, recapitalization, merger, consolidation or other reorganization. Unless the context otherwise requires, the term “Equity Securities” refers to Equity Securities of
the Company or any successor corporation of the Company. 
 “Estimated Tax Amount” of a Unitholder for a Fiscal
Year means the Unitholder’s Tax Amount for such Fiscal Year as estimated in good faith from time to time by the Board. In making such estimate, the Board shall take into account amounts shown on Internal Revenue Service Form 1065 filed by the
Company and similar state or local forms filed by the Company for the preceding taxable year and such other adjustments as in the reasonable business judgment of the Board are necessary or appropriate to reflect the estimated operations of the
Company for the Fiscal Year. 
 “Existing Agreement” has the meaning set forth in the recitals hereto.

  

 - 7 - 

 “Fair Market Value” of any asset as of any date means the purchase price
that a willing buyer having all relevant knowledge would pay a willing seller for such asset in an arm’s-length transaction; provided, however, that for purposes of Section 5.7(d), the Fair Market Value of any property
(other than cash or cash equivalents) contributed to the Company or any of its Subsidiaries shall be (A) in the case of securities listed on any national securities exchange or quoted on the NASDAQ Stock Exchange (the “Nasdaq”)
or the over-the-counter market, the average of the closing prices of the sales of securities of the type in question, on all securities exchanges on which such securities may at the time be listed, or, if there have been no sales on any such
exchange on any day, the average of the highest bid and lowest asked prices on all such exchanges at the end of such day, or, if on any day such securities are not so listed, the average of the representative bid and asked prices quoted on the
Nasdaq as of 4:00 P.M., New York time, or, if on any day such securities are not quoted on the Nasdaq, the average of the highest bid and lowest asked prices on such day in the domestic over-the-counter market as reported by the National Quotation
Bureau, LLC or any similar successor organization, in each such case averaged over a period of 21 days consisting of the day as of which the Fair Market Value is being determined and the 20 consecutive trading days prior to such day, and (B) in
the case where the contributed property consists of (1) securities that are not listed on any securities exchange or quoted on the Nasdaq or the over-the-counter market, or (2) property other than securities, such amount as determined in
good faith by a Majority of the Board that includes a majority of the Non-ABRY Directors (subject to the provisions of the term “Dilutive Event”); provided that: 
 (a) the “Fair Market Value” of any Unit at any time is the aggregate amount that the holder of such Unit would receive by
reason of such Unit if (after giving effect to the transactions consummated in connection with the issuance of such Unit, if Fair Market Value is being determined as of the time such Unit is issued) the assets of the Company were sold, as a going
concern, for their Fair Market Value in cash and the proceeds of such sale (after repayment of all indebtedness of the Company and a deduction for expenses that would reasonably be expected to be incurred by a seller in such a sale) were distributed
to the holders of Units in accordance with Section 7.2; and 
 (b) the “Fair Market Value” of any
additional or incremental Points for an outstanding Unit refers to the aggregate amount that the holder of such Unit would receive by virtue of such additional or incremental Points if, after giving effect to the transactions consummated in
connection with the related increase in the Points, the assets of the Company were sold, as a going concern, for their Fair Market Value in cash and the proceeds of such sale (after repayment of all indebtedness of the Company and a deduction for
expenses that would reasonably be expected to be incurred by a seller in such a sale) were distributed to the holders of Units in accordance with Section 7.2. 
 “Fiscal Year” means the Company’s Taxable Year. 
 “GCL” means the General Corporate Law of the State of Delaware, as the same may be amended from time to time. 
 “Incentive Unit Purchase Agreement” means each of the Incentive Unit Purchase Agreements by and between the Company and certain Persons to whom Class C Common Units may be issued from
time to time either on the date hereof or in the future, as in effect from time to time. 
  

 - 8 - 

 “Indemnifying Unitholder” has the meaning set forth in
Section 7.5. 
 “Independent Financial Advisor” shall mean a nationally recognized accounting,
appraisal, investment banking firm or consultant in the United States that is, in the good faith judgment of the Board, independently qualified to perform the task for which it has been engaged. 
 “Investors Securities Purchase Agreement” means the Investors Securities Purchase Agreement, dated as of the date hereof,
by and among the Company, ABRY Partners and the other Persons acquiring Class A Common Units thereunder, as in effect from time to time. 
 “Liquidator” has the meaning set forth in Section 10.2(a). 
 “Losses” has the meaning set forth in Section 6.2(b). 
 “Majority of the
Board” means, at any time, a combination of the Directors having a majority of the votes (as determined pursuant to Section 3.1) of all of the Directors who are then elected. 
 “Majority of the Members” means, at any time, Members that hold a majority of the Voting Units that are outstanding
at such time and that are held by the Members.  
 “Majority Redeeming Class D Holders” means, at
any time when any holder(s) have elected to require that Class D Common Units be redeemed, any holder(s) of a majority of the Class D Common Units to be redeemed (provided that such holders include a Continuing Class D Common Holder if any
Continuing Class D Common Holder is a holder of Class D Common Units to be redeemed).  
 “Member” means
each Person identified on the Members and Option Holders Schedule as of the date hereof who has executed this Agreement or a counterpart hereof and each Person who may hereafter be admitted as a Member in accordance with the terms of this Agreement.
The Members shall constitute the “members” (as that term is defined in the Delaware Act) of the Company. 
 “Members Agreement” means the Members Agreement, dated as of the date hereof, by and among the Company and the Members named therein, as in effect from time to time. 
 “Members Schedule” has the meaning set forth in Section 5.1. 
 “Membership Interest” means the interest acquired by a Member in the Company, including such Member’s right (based on
the type and class and/or series of Unit or Units held by such Member), as applicable, (a) to a distributive share of Profits, Losses, and other items of income, gain, loss, deduction and credits of the Company, (b) to a distributive share
of the assets of the Company, (c) to vote on, consent to or otherwise participate in any decision of the

  

 - 9 - 

 
Members, and (d) to any and all other benefits to which such Member may be entitled as provided in this Agreement or the Delaware Act. 
 “Merrill” means Merrill Lynch Capital Corporation. 
 “Net Loss” means the excess, if any, of the Company’s items of Loss over the Company’s items of Profit for the
Fiscal Year or for any other accounting period for which a calculation of Net Loss is necessary. 
 “Net
Profit” means the excess, if any, of the Company’s items of Profit over the Company’s items of Loss for the Fiscal Year or for any other accounting period for which a calculation of Net Profit is necessary. 
 “New Unit Designation” means a written designation of the rights and obligations specified for a Class of Units or a Series
of any Class of Units (or for more than one Class or Series of any Class of such Units), other than Class A Common Units, Class B Common Units, Class C Common Units, Class D Common Units or Class E Common Units, that is approved by the Board
and executed (including by means of a joinder) by the initial holder or holders of Units of such Class or Series, which written designation (as in effect from time to time) will be a part of this Agreement as if it were fully set forth in this
document. 
 “New Units” means any Membership Interests authorized in any New Unit Designation. 
 “New York Life” means New York Life Capital Partners II, L.P. 
 “Non-ABRY Director” means any Director other than an ABRY Director. 
 “Non-Distribution Amount” means (i) $1.00, for each Class C-1 Common Unit, (ii) $2.00, for each Class C-2 Common
Unit, (iii) $2.60, for each Class C-3 Common Unit or (iv) the “Non-Distribution Amount” specified in the related Class C Common Designation, for each Class C Common Unit of any other Series, in the case of clause (i) through
(iv), as equitably adjusted for any Unit split or other combination or subdivision of Units. 
 “Officers” has
the meaning set forth in Section 3.3 hereof. 
 “Option” means any option, warrant or other right
directly or indirectly exercisable for (a) any membership interest having Points, or (b) any Convertible Security, in each case, as may be issued by the Company from time to time. 
 “Outside Class D Majority” means any holder(s) of Outside Investor Class D Common Units that hold(s) a majority of the
Outside Investor Class D Common Units (provided that such holder(s) include at least one Continuing Class D Common Holder if at such time there is any Continuing Class D Common Holder). 
  

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 “Outside Investor Class D Common Units” means the Class D Common Units,
other than any Class D Common Unit held by AMP or any of its Affiliates. 
 “Permitted Dilutive Event” shall
mean any of the following events: 
 (i) any increase in the number of Points represented by Class D Common Units
solely by reason of any recalculation of Points for Class D Common Units occurring in connection with any increase in the Dilution Factor pursuant to the definition of “Points”; 
 (ii) any increase in the number of Points represented by the outstanding Units by reason of any issuance or award of Units to
employees, directors or consultants of the Company or its Subsidiaries in an aggregate amount not to exceed 20,888,888 Points; 
 (iii) any increase in the number of Points represented by the outstanding Units by reason of any issuance of Units to the seller(s) of a company or business (or any related assets) acquired by the Company
or its Subsidiary as part or all of the acquisition consideration; 
 (iv) any increase in the number of Points
represented by the outstanding Units by reason of any issuance of Units or Options containing nominal exercise prices, in each case to financing sources in connection with a loan or other indebtedness for borrowed money; 
 (v) any increase in the number of Points represented by the outstanding Units by reason of any issuance of Units upon the
issuance of Equity Securities pursuant to an Equity Investment (as defined in the Call Agreement) under the Call Agreement or the conversion or exercise of any Options or Convertible Securities; 
 (vi) any increase in the number of Points represented by the outstanding Units by reason of any issuance of Units pursuant to
an underwritten public offering and sale of Equity Securities of the Company or a successor corporation pursuant to an effective registration statement under the Securities Act; 
 (vii) any increase in the number of Points represented by the outstanding Units as a result of any split or other subdivision
of any class or series of Common Units so long as adjustments in respect thereof are made in accordance with the final sentence of Section 5.1; and 
 (viii) any increase in the number of Points represented by the outstanding Units by reason of the issuance of Class A
Common Units to repurchase or redeem or in exchange for Class C Common Units pursuant to the terms of that certain Incentive Unit Agreement among the Company and the Dracup Trusts as in effect on the date hereof (or any substantially similar
agreement with any employee of the Company or its Subsidiaries or a Person that would be a Permitted Transferee of any such employees under the Members Agreement). 
  

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 “Person” means any individual, corporation, partnership, limited liability
company, trust, joint venture, governmental entity or other unincorporated entity, association or group. 
 The number of
“Points” for any Unit will be as follows: 
 (i) The number of “Points” for any
Class A Common Unit, Class B Common Unit or Class C Common Unit shall be one (1). 
 (ii) The number of
“Points” for any Class D Common Unit shall be: 
 (A) for purposes of
Section 7.2(c) and Section 7.2(d), (x) 0.85492228 multiplied by (y) the Dilution Factor; and 
 (B) for purposes of Section 4.2, Section 7.2(e) and Section 7.2(f) (x) 1.00 multiplied by the Dilution Factor; 
 in each case, as equitably adjusted for any Unit split or other combination or subdivision of Units; provided that in the event that the Company
issues Class A Common Units in consideration of an Equity Investment (as defined in the Call Agreement) pursuant to the Call Agreement, or if the Company issues Class A Common Units upon the conversion of ABRY Subordinated Indebtedness
issued in consideration of an Equity Investment pursuant to the Call Agreement, then the number of Points for any Class D Common Unit for (i) purposes of Section 7.2(c) and Section 7.2(d) shall be increased to the number
of Points specified for such Unit in clause (ii)(A) above multiplied by a fraction: (x) the numerator of which is 120,000,000 plus the aggregate number of Class A Common Units so issued, and (y) the denominator of which is
120,000,000 and (ii) for all other purposes, including for purposes of Section 7.2(e) and Section 7.2(f), shall be increased to the number of Points specified for such Unit in clause (ii)(B) above multiplied by a
fraction: (x) the numerator of which is 140,363,636 plus the aggregate number of Class A Common Units issued in such Equity Investment or upon conversion of such Equity Investment, and (y) the denominator of which is
140,363,636. 
 “Preferred Securities Purchase Agreement” means the Securities Purchase Agreement, dated as of
the date hereof, by and among the Company and the purchasers of Series A Preferred Units and Class D Common Units that are parties thereto, as in effect from time to time. 
 “Preferred Units” means, collectively, the Series A Preferred Units and any New Units of any Class that are stated to be
Preferred Units in the applicable New Unit Designation. 
 “Profits” has the meaning set forth in
Section 6.2(b). 
 “Public Sale” means a sale of Equity Securities to the public (i) pursuant
to an offering registered under the Securities Act or (ii) after the consummation of the initial public offering of Equity Securities, through a broker, dealer or market maker in compliance with Rule 144 under the Securities Act (or any similar
rule then in force). 
 “Quarterly Estimated Tax Amount” of a Unitholder for any calendar
quarter of a Fiscal Year means the excess, if any of (i) the product of (A)  1/4 in the case of the first calendar quarter of the Fiscal Year,  1/2 in the case of the second calendar quarter of the Fiscal Year,  3/4 in the case 

  

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of the third calendar quarter of the Fiscal Year, and 1 in the case of the fourth calendar quarter of the Fiscal Year and (B) the Unitholder’s Estimated Tax Amount for such Fiscal Year
over (ii) all Tax Advances previously made to such Unitholder with respect to such Fiscal Year. 
 “Redemption
Value Notice” has the meaning set forth in Section 5.8. 
 “Registration Rights Agreement”
means the Registration Rights Agreement, dated as of the date hereof, by and among the Company and the Members named therein, as in effect from time to time. 
 “Regulatory Allocations” has the meaning set forth in Section 8.2(e). 
 “Related Agreements” means, collectively, the Preferred Securities Purchase Agreement, the Investors Securities Purchase Agreement, the Incentive Unit Purchase Agreements, the
Registration Rights Agreement and the Members Agreement. 
 “Restricted Securities” means (a) all Units
issued by the Company and (b) any securities issued with respect to, or in exchange for, the Units referred to in clause (a) above in connection with a conversion, combination of units or shares, recapitalization, merger, consolidation or
other reorganization, including in connection with the consummation of any reorganization plan. As to any particular Restricted Securities, such securities shall cease to be Restricted Securities when they have been Transferred pursuant to a Public
Sale. 
 “Securities Act” means the Securities Act of 1933, as amended. 
 A “Series” of Class C Common Units means the Class C-1 Common Units, the Class C-2 Common Units, the Class C-3 Common Units
or any other Class C Common Units that have the rights and preferences specified for a particular series or subseries of Class C Common Units in a Class C Common Unit Designation. 
 “Series A Preferred Capital Value” means, for any Series A Preferred Unit, $1.00, as equitably adjusted for any Unit split
or other combination or subdivision of Units. 
 “Series A Preferred Unit” means a Unit having the rights and
obligations specified with respect to “Series A Preferred Units” in this Agreement. 
 “Subsidiary”
means, with respect to any Person, any corporation, limited liability company, partnership, association or other business entity of which (i) if a corporation or a limited liability company with voting securities, a majority of the total voting
power of shares of stock (or units) entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by such Person or one
or more of the other Subsidiaries of such Person or a combination thereof, or (ii) if a limited liability company without voting securities, partnership, association or other business entity, a majority of the partnership or other similar
ownership interest thereof is at the time owned or controlled, directly or indirectly, by any Person or one or more Subsidiaries of such Person or a combination thereof. For purposes of this Agreement, a Person or Persons shall be deemed to have a
majority ownership interest in a limited liability company, partnership, association or other business entity if such Person or Persons shall be

  

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allocated a majority of limited liability company, partnership, association or other business entity gains or losses or shall be or control any managing director, managing member, or general
partner of such limited liability company, partnership, association or other business entity. 
 “Tax Advance”
means any distribution pursuant to Section 7.4. 
 “Tax Amount” of a Unitholder for a Fiscal Year
means the product of (A) the Unitholder’s Tax Rate for such Fiscal Year and (B) the Adjusted Taxable Income of the Unitholder for such Fiscal Year with respect to its Units. 
 “Tax Matters Partner” has the meaning set forth in Code Section 6231 and Section 9.5. 
 “Tax Rate” of a Unitholder for any period means the highest marginal tax rates for an individual resident in New York City
applicable to ordinary income, qualified dividend income, or capital gains, as appropriate, taking into account the deductibility of state and local income taxes as applicable at the time for United States federal income tax purposes and any
limitations thereon including pursuant to Section 68 of the Code. 
 “Taxable Year” means the
Company’s taxable year ending on or about December 31 (or part thereof in the case of the Company’s first and last taxable year), or such other year as is (i) required by Section 706 of the Code or (ii) determined by
the Board (if no year is so required by Section 706 of the Code). 
 “Transfer” means any direct or
indirect sale, transfer, conveyance, assignment, pledge, hypothecation, gift, delivery or other disposition. 
 “Treasury Regulations” means the final or temporary regulations that have been issued by the U.S. Department of Treasury pursuant to its authority under the Code, and any successor regulations. 
 “Unit” means a unit representing a fractional part of the Membership Interests of all of the Unitholders and shall include
all types and classes and/or series of Units; provided that any type, class or series of Units shall have the designations, preferences and/or special rights set forth in this Agreement, and the Membership Interests represented by such type,
class or series of Units shall be determined in accordance with such designations, preferences and/or special rights. 
 “Unitholder” means any holder of Units whether or not such holder has been admitted as a Member in accordance with the terms of this Agreement, but only with respect to, and to the extent such holder holds, Units.

 “Unitholder Minimum Gain” with respect to each Unitholder Nonrecourse Debt, means the amount of Company
Minimum Gain (as determined according to Treasury Regulation Section 1.704-2(d)(1)) that would result if such Unitholder Nonrecourse Debt were treated as a nonrecourse liability, determined in accordance with Treasury Regulation
Section 1.704-2(i)(3). 
  

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 “Unitholder Nonrecourse Debt” means “Unitholder Nonrecourse Debt”
as defined in Treasury Regulation Section 1.704-2(b)(4), substituting the term “Company” for the term “partnership” and the term “Unitholder” for the term “partner” as the context requires. 
 “Unitholder Nonrecourse Deduction” means “Unitholder Nonrecourse Deduction” as defined in Treasury Regulation
Section 1.704-2(i), substituting the term “Unitholder” for the term “partner” as the context requires. 
 “Unpaid Yield” on (i) any Class A Common Unit means, as of any date, an amount equal to the excess, if any, of (A) the aggregate Yield accrued on such Class A Common Unit prior to such date, over
(B) the aggregate amount of prior Distributions made by the Company on such Class A Common Unit pursuant to Section 7.2(d), and (ii) on any Series A Preferred Unit, as of any date, an amount equal to the excess, if any, of
(A) the aggregate Yield accrued on such Series A Preferred Unit prior to such date, over (B) the aggregate amount of prior Distributions made by the Company on such Series A Preferred Unit pursuant to Section 7.2(b).

 “Unreturned Capital Value” means, for (i) any Class A Common Unit, the amount of the Common
Capital Value for such Class A Common Unit, reduced by all Distributions made by the Company on such Class A Common Unit pursuant to Section 7.2(c), and (ii) any Series A Preferred Unit, the amount of the Series A
Preferred Capital Value for such Series A Preferred Unit, reduced by all Distributions made by the Company on such Series A Preferred Unit pursuant to Section 7.2(a). 
 “Unvested Class C Common Unit” means any Class C Common Unit that is not a Vested Class C Common Unit. 
 “Vested Class C Common Unit” means any Class C Common Unit that has vested pursuant to the terms and conditions of the
Incentive Unit Purchase Agreement or other document pursuant to which such Class C Common Units were acquired by the initial holder thereof or any other document governing the vesting of such Class C Common Units. 
 “Voting Units” means the Class A Common Units, the Class B Common Units, and the Class D Common Units. 
 “Yield” on (i) any Class A Common Unit means the amount accruing on a daily basis in respect of such Unit
(commencing with respect to such Unit on the date the Company receives cash or other consideration in an amount equal to the purchase price of such Unit) at a rate of 15.0% per annum on (A) the Unreturned Capital Value for such Unit
plus (B) the Unpaid Yield on such Unit for all prior quarterly periods (or portions thereof) ending on any March 31, June 30, September 30 or December 31, and (ii) on any Series A Preferred Unit, means
the amount accruing on a daily basis in respect of such Series A Preferred Unit (commencing with respect to such Series A Preferred Unit on the date the Company receives cash in an amount equal to the purchase price of such Series A Preferred Unit)
at a rate of 15.0% per annum on (A) the Unreturned Capital Value for such Series A Preferred Unit plus (B) the Unpaid Yield on such Series A Preferred Unit for all prior quarterly periods ending on any
March 31, June 30, September 30 or December 31; provided that, at any time after and during the continuance of an Event of Default (as that term is defined in the Preferred Securities Purchase Agreement) such

  

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rate of accrual of Yield for any Series A Preferred Unit shall be 17.0% per annum. For the avoidance of doubt, from and after the discontinuance or waiver in accordance with the Preferred
Securities Purchase Agreement of any Event of Default, so long as no other Event of Default shall have occurred and be continuing, the rate of accrual of Yield for any Series A Preferred Unit shall be 15.0% per annum, subject to subsequent
increase as provided in this definition. In calculating the amount of any Distribution to be made pursuant to Section 7.2(b) during any calendar year, the portion of the Yield on any Class A Common Unit or Series A Preferred
Unit for such portion of the quarterly period elapsing before such Distribution is made will be taken into account and paid first. 
 1.2 Other Definitional Provisions. Capitalized terms used in this Agreement which are not defined in this Article I have the meanings contained elsewhere in this Agreement. Defined terms used in this Agreement in
the singular shall include the plural and vice versa. Whenever the words “include,” “includes” or “including” are used in this Agreement, they are deemed to be followed by the words “without
limitation.” Where the context so indicates, the masculine shall include the feminine, the neuter shall include the masculine and feminine. 
 ARTICLE II 
 Organization of the Company 
 2.1 Formation. 
 (a) The Company was formed upon the filing of the certificate of formation of the Company (as amended, supplemented or restated from time to time, the “Certificate”) with the Secretary of
State of the State of Delaware on April 14, 2004, pursuant to the Delaware Act. This Agreement shall constitute the “limited liability company agreement” (as that term is used in the Delaware Act) of the Company. The rights, powers,
duties, obligations and liabilities of the Unitholders shall be determined pursuant to the Delaware Act and this Agreement. To the extent that the rights, powers, duties, obligations and liabilities of any Unitholder are different by reason of any
provision of this Agreement than they would be in the absence of such provision, this Agreement shall, to the extent permitted by the Delaware Act, control. 
 (b) Any officer of the Company, as an “authorized person” within the meaning of the Delaware Act, is hereby authorized, at any time that the Board has approved an amendment to the Certificate in
accordance with the terms hereof, to promptly execute, deliver and file such amendment in accordance with the Delaware Act. 
 (c) The Company shall, to the extent permissible, elect to be treated as a partnership for federal, foreign, state and local income tax purposes, and each Unitholder and the Company shall file all tax returns and shall otherwise take all
tax and financial reporting positions in a manner consistent with such treatment and no Unitholder shall take any action inconsistent with such treatment. The Company shall not be deemed a partnership or joint venture for any other purpose.

 2.2 Name. The name of the Company is “Language Line Holdings, LLC” or such other name or names
as the Board may from time to time designate; provided that the name shall always contain the words “Limited Liability Company” or the abbreviation “LLC” or “L.L.C.” 
  

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 2.3 Principal Place of Business. The principal place of business of the
Company shall be at such place as the Board may determine from time to time. The Company may locate its place or places of business (including its principal place of business) and registered office at any other place or places as the Board may from
time to time deem necessary or advisable. 
 2.4 Registered Office and Registered Agent. The Company’s
registered office shall be at Corporation Service Company, 2711 Centerville Road, Suite 400, Wilmington, New Castle County, Delaware 19808, and the name of its initial registered agent at such address shall be Corporation Service Company.

 2.5 Term. The term of existence of the Company shall be perpetual from the date the Certificate was
filed with the Secretary of State of Delaware, unless the Company is dissolved in accordance with the provisions of this Agreement. 
 2.6 Purposes and Powers. The purposes and character of the business of the Company shall be to transact any or all lawful business for which limited liability companies may be organized under the Delaware Act. The
Company shall have any and all powers which are necessary or desirable to carry out the purposes and business of the Company, including the ability to incur and guaranty indebtedness, to the extent the same may be legally exercised by limited
liability companies under the Delaware Act. The Company shall carry out the foregoing activities pursuant to the arrangements set forth in this Agreement. Notwithstanding anything herein to the contrary, nothing set forth herein shall be construed
as authorizing the Company to possess any purpose or power, or to do any act or thing, forbidden by law for a limited liability company organized under the laws of the State of Delaware. 
 ARTICLE III 
 Management of the Company

 3.1 Board of Directors. 
 (a) Establishment. There is hereby established a committee (the “Board”) comprised of natural Persons (the “Directors”) having the authority and duties set forth
in this Agreement and the Delaware Act. Each Director shall be entitled to one (1) vote. Any decisions to be made by the Board shall require the approval of a Majority of the Board. Except as provided in the immediately preceding sentence, no
Director acting alone, or with any other Director or Directors, shall have the power to act for or on behalf of, or to bind the Company in his or her capacity as a Director. Each Director shall be a “manager” (as that term is defined in
the Delaware Act) of the Company, but, notwithstanding the foregoing, no Director shall have any rights or powers beyond the rights and powers granted to such Director in this Agreement. Directors need not be residents of the State of Delaware.

 (b) Powers. The business and affairs of the Company shall be managed by or under the direction of the Board. All
actions outside of the ordinary course of business of the Company, to be taken by or on behalf of the Company, shall require the approval of the Board. Directors shall have the duties, powers and rights of directors under Delaware law applicable to
directors of corporations organized under the GCL. 
  

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 (c) Number of Directors; Term of Office. The authorized number of Directors shall, as
of the date hereof, be five (5) Directors and hereafter the authorized number of Directors may be increased or decreased by the Board. Subject to the terms and provisions of the Members Agreement, the Directors shall, except as hereinafter
otherwise provided for filling vacancies, be elected by vote of a Majority of the Members and shall hold office until their respective successors are elected or until their earlier death, resignation or removal. The initial ABRY Directors shall be
Peggy Koenig, C.J. Brucato and Azra Nanji; the initial CEO Director shall be Dennis Dracup; and the remaining initial Director shall be Matthew Gibbs; and each such Person shall hold office as a Director until his or her respective successor is
elected or until his or her earlier death, resignation or removal. 
 (i) A Majority of the Members may remove,
with or without cause, any Director and fill the vacancy; provided that whenever any Director shall have been elected pursuant to the Members Agreement, such Director may be removed and the vacancy filled only as provided in the Members
Agreement. Vacancies caused by any such removal by the Members and not filled by the Members at the meeting at which such removal shall have been made or pursuant to the applicable written consent of the Members, may be filled by a Majority of the
Board, although less than a quorum, and any Director so elected to fill any such vacancy shall hold office until his successor is elected or until his earlier death, resignation or removal; provided that such Director can be removed with or
without cause and replaced by the Member or Members, if any, which have the right to designate such Director pursuant to the Members Agreement. 
 (ii) A Director may resign at any time by giving written notice to that effect to the Company. Any such resignation shall take effect at the time of the receipt of that notice or any later effective time
specified in that notice; and, unless otherwise specified in that notice, the acceptance of the resignation shall not be necessary to make it effective. Any vacancy caused by any such resignation or by the death of any Director or for any other
reason (including due to the authorization by the Board of a newly created directorship) and not filled by the Members (either by Members with the right to designate such Director pursuant to the Members Agreement or otherwise) may be filled by a
Majority of the Board, although less than a quorum, and any Director so elected to fill any such vacancy shall hold office until his successor is elected or until his earlier death, resignation or removal; provided that such Director can be
removed with or without cause and replaced by the Member or Members, if any, which have the right to designate such Director pursuant to the Members Agreement. 
 (d) Meetings of the Board. The Board shall meet at such time and at such place (either within or without the State of Delaware) as the Board may designate; provided, however, that the
Board shall meet a minimum of four times per calendar year. Meetings of the Board shall be held on at least three (3) Business Days’ (if the meeting is to be held in person) or two (2) Business Days’ (if the meeting is to be held
by telephone communications) prior oral or written notice to the Directors, or upon such shorter notice as may be approved by all of the Directors. Any Director may waive such notice as to himself. A record shall be maintained by the Secretary of
the Company of each meeting of the Board. 
  

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 (i) Conduct of Meetings. Any meeting of the Directors may be held,
and any Director may attend and vote and be present at a meeting, in person (including by proxy given to another Director) or telephonically. If any, but not all, of the ABRY Directors is present in person or telephonically at a meeting, then the
other ABRY Director(s) will be deemed to be present at such meeting by proxy and the ABRY Director(s) present in person or telephonically will be entitled to cast the votes of the other ABRY Director(s), whether or not they have been given a written
proxy. 
 (ii) Quorum. The presence (in person, telephonically, by proxy or by operation of this
Section 3.1(d)) of a Majority of the Board shall constitute a quorum of the Board for purposes of conducting business. At all times when the Board is conducting business at a meeting of the Board, a quorum of the Board must be present at
such meeting. If a quorum shall not be present at any meeting of the Board, then Directors having a majority of the votes of the Directors present at the meeting may adjourn the meeting from time to time, without notice other than announcement at
the meeting, until a quorum shall be present. 
 (iii) Attendance and Waiver of Notice. Attendance by a
Director at any meeting (in person, telephonically or by proxy) shall constitute a waiver of notice of such meeting, except where a Director attends a meeting for the express purpose of objecting to the transaction of any business on the ground that
the meeting is not lawfully called or convened. Neither the business to be transacted at, nor the purpose of, any regular or special meeting of the Board need be specified in the notice or waiver of notice of such meeting. 
 (iv) Actions Without a Meeting. Notwithstanding any provision contained in this Agreement, any action of the Board may
be taken by written consent without a meeting. Any such action taken by the Board without a meeting shall be effective only if the written consent or consents are in writing, set forth the action so taken, and are signed by a Majority of the Board.

 (e) Compensation of the Directors. Directors, as such, shall not receive any stated salary for their services, but
shall receive such reasonable compensation for their services as may be from time to time agreed upon by a Majority of the Members or by a Majority of the Board. In addition, a fixed sum and expenses of attendance, if any, may be allowed for
attendance at each regular or special meeting of the Board, provided that nothing contained in this Agreement shall be construed to preclude any Director from serving the Company or any of its Subsidiaries in any other capacity and receiving
reasonable compensation for such service. 
 (f) Chairman of the Board. A Majority of the Board may elect any one of the
Directors to be the chairman of the Board (the “Chairman”), and the initial Chairman will be Dennis Dracup. At any time, the Chairman, if any, can be removed from his or her position as Chairman by a Majority of the Board; provided
that Dennis Dracup shall serve as the Chairman so long as he serves as the chief executive officer of the Company . The Chairman shall preside at all meetings of the Board and at all meetings of the Members at which he or she shall be present.

  

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 3.2 Committees of the Board. The Board may, by resolution, designate from
among the Directors one or more committees (including an audit committee, a nominating committee, and a compensation committee), each of which shall be comprised of one or more Directors, and may designate one or more of the Directors as alternate
members of any committee, who may, subject to any limitations imposed by the Board, replace absent or disqualified Directors at any meeting of that committee. Any such committee, to the extent provided in such resolution, shall have and may exercise
all of the authority of the Board, subject to the limitations set forth in the Delaware Act or in the establishment of the committee. Any members thereof may be removed by a Majority of the Board. Unless the resolution designating a particular
committee or this Agreement expressly so provides, a committee of the Board shall not have the authority to authorize or make a distribution to the Members or to authorize the issuance of Units. The provisions of this Article III
relating to the Board and the Directors shall apply to each committee and its members, mutatis mutandi. 
 3.3
Officers. 
 (a) Appointment of Officers. The Board may appoint individuals as officers
(“Officers”) of the Company, which may include (i) a chief executive officer, (ii) a president, (iii) a chief financial officer, (iv) a secretary, and (v) such other Officers (such as a treasurer or any
number of vice presidents) as the Board deems advisable. No Officer need be a Member or a Director. An individual can be appointed to more than one office. Each Officer of the Company shall be a “manager” (as that term is used in the
Delaware Act) of the Company, but, notwithstanding the foregoing, no Officer of the Company shall have any rights or powers beyond the rights and powers granted to such Officer in this Agreement or by the Board. The Officers of the Company as of the
date hereof are listed on the attached Schedule A. 
 (b) Duties of Officers Generally. Under the direction of
and, at all times, subject to the authority of the Board, the Officers shall manage and control the day-to-day business, operations and affairs of the Company in the ordinary course of its business, make decisions affecting the day-to-day business,
operations and affairs of the Company in the ordinary course of its business and take all such actions as they deem necessary or appropriate to accomplish the foregoing, in each case, unless the Board shall have previously restricted (specifically
or generally) such powers. In addition, the Officers shall have such other powers and duties as may be prescribed by the Board or this Agreement. The chief executive officer and the president shall have the power and authority to delegate to any
agents or employees of the Company rights and powers of Officers of the Company to manage and control the day-to-day business, operations and affairs of the Company in the ordinary course of its business, as the chief executive officer or the
president may deem appropriate from time to time, in each case, unless the Board shall have previously restricted (specifically or generally) such powers. Officers of the Company shall have the duties of officers under Delaware law applicable to
officers of corporations organized under the GCL. 
 (c) Authority of Officers. Subject to Section 3.3(b)
above, with respect to all matters within the ordinary course of business of the Company, any Officer of the Company shall have the right, power and authority to transact business in the name of the Company or to act for or on behalf of or to bind
the Company. With respect to such matters, third parties

  

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dealing with the Company may rely conclusively upon any certificate of any Officer to the effect that such Officer is acting on behalf of the Company. 
 (d) Removal, Resignation and Filling of Vacancy of Officers. Subject to the terms of any applicable employment agreement to which the
Company or any of its Subsidiaries is a party, the Board may remove any Officer, for any reason or for no reason, at any time. Any Officer may resign at any time by giving written notice to the Company, and such resignation shall take effect at the
date of the receipt of that notice or any later time specified in that notice; provided that, unless otherwise specified in that notice, the acceptance of the resignation shall not be necessary to make it effective. Any such resignation shall
be without prejudice to the rights, if any, of the Company or such Officer under this Agreement. A vacancy in any office because of death, resignation, removal or otherwise shall be filled in the manner prescribed in this Agreement for regular
appointments to that office. 
 (e) Compensation of Officers. The Officers shall be entitled to receive compensation from
the Company if and as determined by the Board. 
 (f) Chief Executive Officer. Under the direction of and, at all times,
subject to the authority of the Board and this Agreement, the chief executive officer of the Company (the “Chief Executive Officer”) shall have general supervision over the day-to-day business, operations and affairs of the Company
and shall perform such duties and exercise such powers as are incident to the office of Chief Executive Officer of a corporation organized under the GCL. The Chief Executive Officer shall have such other powers and perform such other duties as may
from time to time be prescribed by the Board. 
 (g) President. Under the direction of and, at all times, subject to the
authority of the Board and this Agreement, the president of the Company (the “President”) shall perform such duties and exercise such powers as are incident to the office of president of a corporation organized under the GCL. In the
absence of the Chief Executive Officer, the president shall perform the duties of the Chief Executive Officer. The President shall have such other powers and perform such other duties as may from time to time be prescribed by the Board. 

(h) Chief Financial Officer. The chief financial officer of the Company (the “Chief Financial Officer”) shall
keep and maintain, or cause to be kept and maintained, adequate and correct books and records of accounts of the properties and business transactions of the Company, including accounts of its assets, liabilities, receipts, disbursements, gains,
losses, capital and Units, and, in general, shall perform all the duties incident to the office of the Chief Financial Officer of a corporation organized under the GCL. The Chief Financial Officer shall have the custody of the funds and securities
of the Company, and shall keep full and accurate accounts of receipts and disbursements in books belonging to the Company. The Chief Financial Officer shall have such other powers and perform such other duties as may from time to time be prescribed
by the Board, the Chief Executive Officer and/or the President. 
 (i) Secretary. The secretary of the Company (the
“Secretary”) shall (i) keep the minutes of the meetings of the Members and the Board in one or more books provided for that purpose; (ii) see that all notices are duly given in accordance with the provisions of this Agreement and
as required by law; (iii) be custodian of the Company’s records; (iv) keep a

  

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register of the address of each Member which shall be furnished to the Secretary by such Member; (v) have general charge of the Members Schedule; and (vi) in general perform all duties
incident to the office of the Secretary of a corporation organized under the GCL. The secretary shall have such other powers and perform such other duties as may from time to time be prescribed by the Board, the Chief Executive Officer and/or the
President. 
 3.4 Performance of Duties; Liability of Directors and Officers. In performing his or her duties,
each of the Directors and the Officers shall be entitled to rely in good faith on the provisions of this Agreement and on information, opinions, reports, or statements (including financial statements and information, opinions, reports or statements
as to the value or amount of the assets, liabilities, Profits or Losses of the Company or any facts pertinent to the existence and amount of assets from which distributions to Members might properly be paid), of the following other Persons or
groups: (a) one or more Officers or employees of the Company or its Subsidiaries; (b) any attorney, independent accountant, or other Person employed or engaged by the Company or its Subsidiaries; or (c) any other Person who has been
selected with reasonable care by or on behalf of the Company or its Subsidiaries, in each case as to matters which such relying Person reasonably believes to be within such other Person’s professional or expert competence. The preceding
sentence shall in no way limit any Person’s right to rely on information to the extent provided in Section 18-406 of the Delaware Act. No individual who is a Director and/or an Officer shall be personally liable under any judgment of a
court, or in any other manner, for any debt, obligation, or liability of the Company, whether that liability or obligation arises in contract, tort, or otherwise, solely by reason of being a Director and/or an Officer. 
 3.5 Indemnification. The Directors and Officers shall not be liable, responsible or accountable for damages or otherwise to
the Company, or to the Members, and, to the fullest extent allowed by law, each Director and each Officer shall be indemnified and held harmless by the Company, including advancement of reasonable attorneys’ fees and other expenses, but only to
the extent that the Company’s assets are sufficient therefor, from and against all claims, liabilities, and expenses by reason of the fact that such Director or Officer is or was a director or officer of the Company, or is or was serving or has
agreed to serve at the request of the Company as a director, officer, employee or agent of another corporation, partnership, limited liability company, joint venture, trust or other enterprise; provided that (a) such Director’s or
Officer’s course of conduct was pursued in good faith and believed by him to be in the best interests of the Company and was reasonably believed by him to be within the scope of authority conferred on such Director or Officer pursuant to this
Agreement and (b) such course of conduct did not constitute gross negligence or willful misconduct on the part of such Director or Officer and otherwise was in accordance with the terms of this Agreement. Notwithstanding anything to the
contrary contained herein, unless expressly approved by the Board, no Director or Officer shall be entitled to indemnification by the Company under this Section 3.5 with respect to any legal proceeding initiated by such Director or
Officer. The rights of indemnification provided in this Section 3.5 are intended to provide indemnification of the Directors and the Officers to the fullest extent permitted by the GCL regarding a corporation’s indemnification of
its directors and officers and will be in addition to any rights to which the Directors or Officers may otherwise be entitled by contract or as a matter of law and shall extend to their respective heirs, personal representatives and assigns. The
absence of any express provision for indemnification herein shall not limit any right of indemnification existing independently of this Section 3.5. Each 

  

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Director’s and each Officer’s right to indemnification pursuant to this Section 3.5 may be conditioned by the Board upon the delivery by such Director or such Officer
of a written undertaking (with such security as the Board may require) to repay such amount if such individual is determined by the Board or adjudicated to be ineligible for indemnification, which undertaking shall be an unlimited obligation.

 ARTICLE IV 
 Members; Voting Rights 
 4.1 Meetings of Members. 

(a) Generally. Meetings of the Members may be called by the Board or by a Majority of the Members. All meetings of the Members
shall be held telephonically or at the principal office of the Company or at such other place within or without the State of Delaware as may be determined by the Board or the Member(s) calling the meeting and set forth in the respective notice or
waivers of notice of such meeting. A record shall be maintained by the Secretary of the Company of each meeting of the Members. 
 (b) Notice of Meetings of Members. Written or printed notice stating the place, day and hour of the meeting shall be delivered not fewer than two (2) Business Days before the date of the meeting, either personally or by any
written method by which it is reasonable to expect that the Members would receive such notice not later than the Business Day prior to the date of the meeting, to each holder of Units, by or at the direction of the Member(s) calling the meeting or
the Board, as the case may be. Such notice may, but need not, specify the purpose or purposes of such meeting and may, but need not, limit the business to be conducted at such meeting to such purpose(s). 
 (c) Quorum. Except as otherwise provided herein or by applicable law, at any time, a Majority of the Members, present or represented
in person, telephonically or by proxy, shall constitute a quorum of the Members for purposes of conducting business. Once a quorum is present at the meeting of the Members, the subsequent withdrawal from the meeting of any Member prior to
adjournment or the refusal of any Member to vote shall not affect the presence of a quorum at the meeting. If, however, such quorum shall not be present at any meeting of the Members, the Members having a majority of the voting power of the Members
present at such meeting (in person or by proxy) shall have the power to adjourn the meeting from time to time, without notice other than announcement at the meeting, until a Majority of the Members shall be present or represented. Resolutions of the
Members at any meeting of Members shall be adopted by the affirmative vote of a Majority of the Members. 
 (d) Actions
Without a Meeting. Any action that may be taken at a meeting of the Members may be taken without a meeting if a consent or consents in writing, setting forth the action so taken, shall be signed by a Majority of the Members and such consent or
consents are delivered to the Secretary. A record shall be maintained by the Secretary of each such action taken by written consent of a Member or Members. 
 4.2 Voting Rights. Except as specifically provided herein or otherwise required by applicable law, for all purposes hereunder or under the Delaware Act with respect to which the 

  

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Members are required to act, including for purposes of Article III hereof, each Member shall be entitled to one vote per Point represented by the Voting Units held by such Member. A
Member who owns Units may vote or be present at a meeting either in person, telephonically or by proxy. There will be no “cumulative voting” (as that term is defined in the GCL) in the election or removal of Directors. Except as expressly
required by this Agreement or the Delaware Act, neither a vote of the Members nor a separate vote by the Members who hold Units of any class or series of Units will be required for any action taken or proposed to be taken by the Company. Without
limiting the preceding sentence, except as expressly required by Section 12.4, a merger or consolidation involving the Company shall require only the approval of a Majority of the Members. Unitholders who are not admitted as Members in
accordance with this Agreement shall not be entitled to vote on any matters involving the Company or their Units. 
 4.3 Registered Members. The Company shall be entitled to treat the owner of record of any Unit as the owner in fact of such Unit for all purposes, and accordingly shall not be bound to recognize any equitable or other claim to
or interest in such Unit on the part of any other Person, whether or not the Company shall have express or other notice of such claim or interest, except as expressly provided by this Agreement or the Delaware Act. Notwithstanding the foregoing, the
Secretary shall amend the Members Schedule to reflect a transferee of any Unit as the new owner of record of such Unit as promptly as practicable following the Company’s receipt from such transferee of a written undertaking to be bound by the
terms and conditions of this Agreement substantially in the form of Exhibit A, as contemplated by Section 11.3(a). 
 4.4 Limitation of Liability. Except as otherwise provided in the Delaware Act or in this Agreement, no Member will be obligated personally for any debt, obligation or liability of the
Company or of any other Member by reason of being a Member, whether arising in contract, tort or otherwise. No Member will have any responsibility to restore any negative balance in such Member’s Capital Account or to contribute to or in
respect of the liabilities or obligations of the Company or return distributions made by the Company except as required by the Delaware Act or other applicable law. 
 4.5 Withdrawal; Resignation. A Member shall not cease to be a Member as a result of the Bankruptcy of such Member or as result
of any other events specified in § 18-304 of the Delaware Act. So long as a Member continues to own or hold any Units, such Member shall not have the ability to resign as a Member prior to the dissolution and winding up of the Company and
any such resignation or attempted resignation by a Member prior to the dissolution or winding up of the Company shall be null and void. When any Person who is a Member ceases to own or hold any Units, such Person shall no longer be a Member. 

 4.6 Death of a Member. The death of any Member shall not cause the dissolution of the Company. In such event
the Company and its business shall be continued by the remaining Member or Members. 
 4.7 Authority. No
Member, in its capacity as a Member, shall have the power to act for or on behalf of, or to bind the Company. 
  

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 4.8 Outside Activities. Subject to the terms of any written agreement by any
Member to the contrary, a Member may have business interests and engage in business activities in addition to those relating to the Company, including business interests and activities which compete with those of the Company and its Subsidiaries,
and no Member in his capacity as a Member shall have any duty or obligation to bring any “corporate opportunity” to the Company or any of its Subsidiaries. Subject to the terms of any written agreement by any Member to the contrary,
neither the Company or any of its Subsidiaries nor any other Member in his capacity as a Member shall have any rights by virtue of this Agreement in any business interests or activities of any other Member. 
 ARTICLE V 
 Units; Membership 
 5.1 Units Generally. The Membership Interests of the Members shall be
represented by issued and outstanding Units, which may be divided into one or more types, classes or series, or subseries of any type, class or series, with each type, class or series, or subseries thereof, having the rights and privileges,
including voting rights, if any, set forth in this Agreement. The Secretary shall maintain a schedule of all Members from time to time, their respective mailing addresses and the Units held by them and the Capital Contributions made by them with
respect thereto (as the same may be amended, modified or supplemented from time to time, the “Members Schedule”), a copy of which as of the date hereof is attached hereto as Schedule B. Ownership of a Unit (or fraction
thereof) shall not entitle a Unitholder to call for a partition or division of any property of the Company or for any accounting. The Company will not effect a split, reverse split or other combination or subdivision of the Common Units of any class
or series unless the terms of all other classes and series (including related Points, Common Capital Values and Non-Distribution Amounts) of Common Units are equitably adjusted. 
 5.2 Authorization and Issuance of Units. 
 (a) Series A Preferred Units. The Company hereby authorizes the issuance of an unlimited number of Series A Preferred Units, 82,000,000 of which are outstanding on the date hereof, as set forth on
Schedule B. 
 (b) Class A Common Units. The Company hereby authorizes the issuance of an unlimited number of
Class A Common Units, which it may issue in one or more Series, 120,000,000 of which are outstanding on the date hereof, as set forth on Schedule B. 
 (c) Class B Common Units. The Company hereby authorizes the issuance of an unlimited number of Class B Common Units, none of which are outstanding on the date hereof. 
 (d) Class C Common Units. The Company hereby authorizes the issuance of an unlimited number of Class C Common Units, which it may
issue in one or more Series, 15,636,364 of which are outstanding on the date hereof, as set forth on Schedule B. The initial three Series of Class C Common Units are (i) Class C-1 Common Units, 5,212,121 of which are outstanding on the
date hereof, (ii) Class C-2 Common Units, 5,212,122 of which are outstanding on the date hereof, and (iii) Class C-3 Common Units, 5,212,121 of which are outstanding on the date hereof. 
  

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 (e) Class D Common Units. The Company hereby authorizes the issuance of an unlimited
number of Class D Common Units, which it may issue in one or more Series, 5,090,909 of which are outstanding on the date hereof, as set forth on Schedule B. 
 (f) Other Units. In addition to the Series A Preferred Units, the Class A Common Units, the Class B Common Units, the initial Series of Class C Common Units, and the Class D Common Units, the
Company hereby authorizes the issuance of other Units. With respect to such Units, the Board is authorized to provide for the issuance of such Units in any class or series by adopting a Class C Common Unit Designation or a New Unit Designation or by
amending this Agreement to reflect such issuance and to establish the number of Units to be included in each such series (which may be unlimited), and to fix the relative rights, obligations, preferences and limitations of the Units of each such
Class or Series. 
 (g) Additional Units. The Board is authorized to increase or decrease the number of Units of any
Class or Series of Units, prior or subsequent to the issue of Units of that Class or Series, but not below the number of Units of such Class or Series then outstanding. 
 5.3 Unit Certificates. Unless the Board otherwise directs, Units will not be represented by certificates. 
 5.4 Issuance of Units. Subject to the limitations contained in Section 11.5, the Company (with the approval of the
Board) shall have the right to issue any authorized but unissued Units; provided that the Company shall not issue any Units to any Person unless such Person has executed and delivered to the Secretary the documents described in
Section 5.5. Upon the issuance of Units, the Company shall adjust the Capital Accounts of the Unitholders as necessary in accordance with Section 6.2. 
 5.5 New Members from the Issuance of Units. In order for a Person to be admitted as a Member of the Company by reason of the
issuance of Units to such Person by the Company, such Person shall have executed and delivered to the Secretary a written undertaking to be bound by the terms and conditions of this Agreement substantially in the form of Exhibit A. Upon the
amendment of the Members Schedule by the Secretary and the satisfaction of any other applicable conditions, including the receipt by the Company of payment for the issuance of the applicable Units, such Person shall be admitted as a Member and
deemed listed as such on the books and records of the Company. 
 5.6 Treatment of Repurchased Class C Common
Units. Any Class C Common Unit that is repurchased by the Company pursuant to Section 6 of any Incentive Share Purchase Agreement or otherwise shall no longer be deemed to be outstanding for any purpose under this Agreement. 

 5.7 Effect on Dilution Factor of Certain Events. For purposes of determining the Dilution Factor, the following
shall be applicable: 
 (a) Issuance of Options. If the Company in any manner grants or sells any Option and the
price per Unit for which membership interests having Points are issuable upon the exercise of such Option, or upon conversion or exchange of any Convertible Security issuable upon exercise of such Option, is less than the Fair Market Value of such
Units immediately prior to such grant or sale, then for purposes of the definitions of the terms “Dilution Factor” and “Dilutive Event” the total number of Units issuable upon the exercise of such Option or upon conversion or
exchange of the total maximum amount of such Convertible Securities issuable upon the exercise of such Option shall be deemed to be outstanding and to have been issued and sold by the Company at the time of the granting or sale of such Option for
such price per Unit. For purposes of this Section 5.7(a), the “price per Unit for which membership interests having Points are issuable” shall be determined by dividing (A) the total amount, if any, received or receivable
by the Company as consideration for the granting or sale of such Option, plus the aggregate amount of additional consideration payable to the Company upon exercise of such Option, plus in the case of an Option which relates to
Convertible Securities, the aggregate amount of additional consideration, if any, payable to the Company upon the issuance or sale of such Convertible Securities and the conversion or exchange thereof, by (B) the total number of Units so
issuable upon the exercise of such Option or upon the conversion or exchange of all such Convertible Securities issuable upon the exercise of such Option. No adjustment of the Dilution Factor shall be made when Convertible Securities are actually
issued upon the exercise of any such Option or when Units having Points are actually issued upon the exercise of such Option or the conversion or exchange of such Convertible Securities. 
  

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 (b) Issuance of Convertible Securities. If the Company or any Subsidiary in any
manner issues or sells any Convertible Securities and the price per Unit for which membership interests having Points are issuable upon conversion or exchange thereof is less than the Fair Market Value of such Units immediately prior to such
issuance or sale, then for purposes of the definitions of the terms “Dilution Factor” and “Dilutive Event” the total number of Units issuable upon conversion or exchange of such Convertible Securities shall be deemed to be
outstanding and to have been issued and sold by the Company at the time of the issuance or sale of such Convertible Securities for such price per Unit. For the purposes of this Section 5.7(b), the “price per Unit for which
membership interests having Points are issuable” shall be determined by dividing (A) the total amount received or receivable by the Company as consideration for the issue or sale of such Convertible Securities, plus the aggregate amount of
additional consideration, if any, payable to the Company upon the conversion or exchange thereof, by (B) the total number of Units represented by the membership interests issuable upon the conversion or exchange of all such Convertible
Securities. No adjustment of the Dilution Factor shall be made when membership interests are actually issued upon the conversion or exchange of such Convertible Securities, and if any such issue or sale of such Convertible Securities is made upon
exercise of any Option, then no adjustment of the Dilution Factor shall be made by reason of such issue or sale. 
 (c)
Change in Option Price; Conversion Rate or Units Issuable. If the purchase price provided for in any Option, the additional consideration, if any, payable upon the conversion or exchange of any Convertible Security, the rate at which any
Convertible Security is convertible into or exchangeable for membership interests having Points, and/or the quantity of such membership interests issuable upon the conversion, exercise or exchange of any such

  

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Option or Convertible Security, changes at any time, then the Dilution Factor shall be immediately adjusted to the Dilution Factor which would have been in effect at such time had such Options or
Convertible Securities still outstanding provided for such changed purchase price, additional consideration, conversion rate or quantity, as the case may be, at the time initially granted, issued or sold; provided that no such change shall at
any time cause the Dilution Factor to be less than 1.00. 
 (d) Calculation of Consideration Received. If any membership
interest, Option or Convertible Security is issued or sold or deemed to have been issued or sold for cash, for purposes of the definitions of the terms “Dilution Factor” and “Dilutive Event” the consideration received therefor
shall be deemed to be the amount received by the Company and its Subsidiaries therefor. If any membership interest, Option or Convertible Security is issued or sold for a consideration other than cash, for purposes of the definitions of the terms
“Dilution Factor” and “Dilutive Event” the amount of the consideration other than cash received by the Company shall be the Fair Market Value thereof. 
 (e) Recomputation. Upon the expiration or the termination of the right to exercise, convert or exchange any Convertible Security or Option the issuance of which resulted in an increase in the
Dilution Factor pursuant to this Section 5.7, the Dilution Factor shall be recomputed to reflect the issuance of only the number of membership interests having Points (and Convertible Securities which remain convertible into such
membership interests) actually issued upon the exercise, conversion or exchange of such Options or Convertible Securities. 
 (f) Certain Events. If any event occurs of the type contemplated by the provisions of this Section 5.7 but not expressly provided for by such provisions (including the granting of stock appreciation rights, phantom stock
rights or other rights with equity features), then the Board in good faith will make an appropriate adjustment in the Dilution Factor so as to protect the rights of the holders of Class D Common Units. 
 5.8 Determination of Class D Common Redemption Price. After one or more holders of Class D Common Units elect(s) to require
the Company to redeem Class D Common Units in accordance with Section 4D of the Preferred Securities Purchase Agreement, the Company will deliver written notice of the Board’s determination of the Fair Market Value of such Units (the
“Redemption Value Notice”) to the holder(s) of the Class D Common Units to be redeemed. Such determination will be binding upon the Company and the holders of the Class D Common Units for purposes of such redemption unless any
Majority Redeeming Class D Holders provide the Company with written notice, delivered within 15 days of their receiving the applicable Redemption Value Notice, to the effect that they believe the Fair Market Value of such Class D Common Units is
greater than that described in the Redemption Value Notice. If any Majority Redeeming Class D Holders deliver such a notice, then the Company shall (unless the Company (with the approval or ratification by the Board) and any Majority Redeeming Class
D Holders otherwise agree in writing as to the Fair Market Value of the Class D Common Units to be redeemed, in which case such determination shall be binding on the Company and the holders of the Class D Common Units to be redeemed) engage an
Independent Financial Advisor reasonably acceptable to the Company and any Majority Redeeming Class D Holders to determine the Fair Market Value of the Class D Common Units to be redeemed, and such determination shall be binding upon the Company and
the holders of the Class D Common Units to be redeemed. The fees, costs and expenses of the Independent Financial Advisor shall be borne by the Company. 
  

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 ARTICLE VI 
 Capital Contributions and Capital Accounts 
 6.1
Capital Contributions. 
 (a) Each Person who is a Member as of the date hereof has made, or is deemed to have made,
the Capital Contributions giving rise to such Member’s Capital Account as of the date hereof and is deemed to own the number, type and class, series or subseries of Units, in each case, in the amounts set forth opposite such Member’s name
on the Members Schedule as in effect on the date hereof. 
 (b) No Member shall make or be required to make any additional
contributions to the Company with respect to such Member’s Units. Except as expressly provided herein, no Member, in its capacity as a Member, shall have the right to receive any cash or any other property of the Company. 
 6.2 Capital Accounts. 
 (a) Maintenance Rules. The Company shall maintain for each Unitholder a separate capital account (a “Capital Account”) in accordance with this Section 6.2(a). Each
Capital Account shall be maintained in accordance with the following provisions: 
 (i) Such Capital Account
shall be increased by the cash amount or Book Value of any property contributed by such Unitholder to the Company pursuant to this Agreement, such Unitholder’s allocable share of Profits and any items in the nature of income or gains which are
specially allocated to such Unitholder pursuant to Section 8.2 or Section 8.3, and the amount of any liabilities of the Company assumed by such Unitholder or which are secured by any property distributed to such Unitholder.

 (ii) Such Capital Account shall be decreased by the cash amount or Book Value of any property distributed to
such Unitholder pursuant to this Agreement, such Unitholder’s allocable share of Losses and any items in the nature of deductions or losses which are specially allocated to such Unitholder pursuant to Section 8.2 or
Section 8.3, and the amount of any liabilities of such Unitholder assumed by the Company or which are secured by any property contributed by such Unitholder to the Company. 
 (iii) If all or any portion of a Unit is transferred in accordance with the terms of this Agreement, the transferee shall
succeed to the Capital Account of the transferor to the extent it relates to the transferred Unit (or, in each case, portion thereof). 
 (iv) If the Book Value of the Company assets is adjusted pursuant to clause (b) of the definition of “Book Value,” the Capital Accounts of the Unitholders shall be adjusted in accordance
with Treasury Regulation Section 1.704-1(b)(2)(iv)(f). 
  

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 The foregoing provisions and the other provisions of this Agreement relating to the
maintenance of Capital Accounts are intended to comply with Section 1.704-1(b) of the Treasury Regulations and shall be interpreted and applied in a manner consistent with such Treasury Regulations. If the Board determines that it is prudent to
modify the manner in which the Capital Accounts, or any increases or decreases to the Capital Accounts, are computed in order to comply with such Treasury Regulations, the Board may authorize such modifications. 
 (b) Definition of Profits and Losses. “Profits” and “Losses” mean, for each Taxable Year or other
period, an amount equal to the Company’s taxable income or loss, respectively, for such Taxable Year or other period, determined in accordance with Code Section 703(a) (and, for this purpose, all items of income, gain, loss or deduction
required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments: 
 (i) The computation of all items of income, gain, loss and deduction shall include tax-exempt income and those items described in Treasury Regulation Section 1.704-1(b)(2)(iv)(i), without regard to
the fact that such items are not includible in gross income or are not deductible for federal income tax purposes. 
 (ii) If the Book Value of any Company property is adjusted pursuant to the definition of “Book Value” or Treasury Regulation Section 1.704-1(b)(2)(iv)(e) or (f), the amount of such adjustment shall be taken into account as
gain or loss from the disposition of such property (provided that if the Book Value of any Company property is adjusted pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(f)(5)(i), the allocation of gain or loss shall be made immediately
prior to the related acquisition of the interest in the Company). 
 (iii) Items of income, gain, loss or
deduction attributable to the disposition of Company property having a Book Value that differs from its adjusted basis for tax purposes shall be computed by reference to the Book Value of such property. 
 (iv) Items of depreciation, amortization and other cost recovery deductions with respect to Company property having a Book
Value that differs from its adjusted basis for tax purposes shall be computed by reference to the property’s Book Value in accordance with Treasury Regulation Section 1.704-1(b)(2)(iv)(g). 
 (v) To the extent an adjustment to the adjusted tax basis of any Company property pursuant to Code Sections 732(d), 734(b) or
743(b) is required, pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(m), to be taken into account in determining Capital Accounts, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the
adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis). 
 (vi) All items
of income, gain, loss or deduction which are specially allocated pursuant to Section 8.2 or Section 8.3 shall not be taken into account in computing such taxable income or loss. 
  

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 6.3 Negative Capital Accounts. If any Unitholder has a deficit balance in its
Capital Account, such Unitholder shall have no obligation to restore such negative balance or to make any Capital Contributions to the Company by reason thereof, and such negative balance shall not be considered an asset of the Company or of any
Unitholder. 
 6.4 No Withdrawal. No Unitholder will be entitled to withdraw any part of his or its Capital
Contribution or Capital Account or to receive any distribution from the Company, except as expressly provided in this Agreement. 
 6.5 Loans From Unitholders. Loans by Unitholders to the Company shall not be considered Capital Contributions. 
 6.6 Status of Capital Contributions. 
 (a) No Unitholder shall receive any interest, salary or drawing with respect to its Capital Contributions or its Capital Account, except as otherwise specifically provided in this Agreement. 

(b) Except as otherwise provided by applicable law, no Unitholder shall be required to lend any funds to the Company or to make any
additional Capital Contributions to the Company. No Unitholder shall have any personal liability for the repayment of any Capital Contribution of any other Unitholder. 
 ARTICLE VII 
 Distributions 
 7.1 Generally. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make any
Distribution to Unitholders if such Distribution would violate Section 18-607 of the Delaware Act or other applicable law. 
 7.2 Order of Priority. Subject to Sections 7.4 and 10.2(b), available cash or other assets (taking such other assets into account at their Fair Market Value at the time of distributions) shall be distributed, at
such times and in such amounts as the Board determines in its discretion, subject to the retention and establishment of reserves of, or payment to third parties of, such funds as it deems necessary with respect to the reasonable business needs of
the Company, in the following order and priority (subject to Sections 7.3 and 7.8 and any Class C Common Unit Designation or New Unit Designation then in effect, provided, that the Company shall not issue or create any Unit which ranks
pari passu with or has priority over the Series A Preferred Unit as to Distributions at any time when any Series A Preferred Unit is outstanding, except as permitted by the Preferred Securities Purchase Agreement): 
 (a) First, to the holders of Series A Preferred Units, collectively, until the entire amount of the Unreturned Capital Value of all
outstanding Series A Preferred Units as of the time of such Distribution has been paid in full in cash. Amounts to be distributed to the holders of Series A Preferred Units pursuant to the first sentence of this Section 7.2(a) will be
distributed among such holders in proportion to and to the extent of the Unreturned Capital Value in respect of the Series A Preferred Units owned by each such holder as of the time of the applicable Distribution. Except as provided in
Section 7.8, no Distribution or any portion thereof

  

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may be made pursuant to Section 7.2(b) through Section 7.2(f) until the entire amount of Unreturned Capital Value of all outstanding Series A Preferred Units as of the
time of such Distribution has been paid in full in cash. 
 (b) Second, to the holders of Series A Preferred Units,
collectively, until the entire amount of Unpaid Yield on all outstanding Series A Preferred Units as of the time of such Distribution has been paid in full in cash. Amounts to be distributed to the holders of Series A Preferred Units pursuant to the
first sentence of this Section 7.2(b) will be distributed among such holders in proportion to and to the extent of the Unpaid Yield on the Series A Preferred Units owned by each such holder as of the time of the applicable Distribution.
Except as provided in Section 7.8, no Distribution or any portion thereof may be made pursuant to Section 7.2(c) through Section 7.2(f) until the entire amount of the Unpaid Yield on all outstanding Series A
Preferred Units as of the time of such Distribution has been paid in full in cash. 
 (c) Third, to the holders of
Class A Common Units, collectively, and to the holders of the Class D Common Units, collectively, pro rata between such groups of holders based on the aggregate number of Points represented by the Class A Common Units and Class D
Common Units, respectively, until the entire amount of the Unreturned Capital Value of all outstanding Class A Common Units as of the time of such Distribution has been paid in full to the holders of Class A Common Units. Amounts to be
distributed to the holders of Class A Common Units pursuant to the first sentence of this Section 7.2(c) will be distributed among such holders in proportion to and to the extent of the Unreturned Capital Value in respect of the
Class A Common Units owned by each such holder as of the time of the applicable Distribution. Amounts to be distributed to the holders of Class D Common Units pursuant to the first sentence of this Section 7.2(c) will be distributed
pro rata among such holders on the basis of the number of Class D Common Units owned by each of them. No Distribution or any portion thereof may be made pursuant to Section 7.2(d) through Section 7.2(f) until the
entire amount of Unreturned Capital Value of all outstanding Class A Common Units as of the time of such Distribution has been paid in full to the holders of Class A Common Units. 
 (d) Fourth, to the holders of Class A Common Units, collectively, and to the holders of the Class D Common Units, collectively,
pro rata between such groups of holders based on the aggregate number of Points represented by the Class A Common Units and Class D Common Units, respectively, until the entire amount of Unpaid Yield on all outstanding Class A
Common Units as of the time of such Distribution has been paid in full to the holders of Class A Common Units. Amounts to be distributed to the holders of Class A Common Units pursuant to the first sentence of this
Section 7.2(d) will be distributed among such holders in proportion to and to the extent of the Unpaid Yield on the Class A Common Units owned by each such holder as of the time of the applicable Distribution. Amounts to be
distributed to the holders of Class D Common Units pursuant to the first sentence of this Section 7.2(d) will be distributed pro rata among such holders on the basis of the number of Class D Common Units owned by each of them. No
Distribution or any portion thereof may be made pursuant to Section 7.2(e) or Section 7.2(f) until the entire amount of the Unpaid Yield on all outstanding Class A Common Units as of the time of such Distribution has
been paid in full to the holders of Class A Common Units. 
 (e) Fifth, subject to Section 7.3, to the
holders of Class A Common Units, Class B Common Units, Class C Common Units, and Class D Common Units (the

  

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“Common-Equivalent Units”) upon which less than the Catch-Up Amount has been paid, until an aggregate amount equal to the Catch-Up Amount has been paid with respect to each
Common-Equivalent Unit (on a per-Point basis). Distributions pursuant to this Section 7.2(e) will be first be made only to holders of those Common-Equivalent Units upon which the least amount of Distributions have theretofore been paid
(on a per-Point basis), until Distributions have been paid in respect of such Common Equivalent Units in an aggregate amount per Point equal to the aggregate amount of Distributions per Point paid on the Common-Equivalent Units which have
theretofore been paid the second-least amount on a per-Point basis. Distributions pursuant to this Section 7.2(e) will then be made only to the holders of such former Common-Equivalent Units and such latter Common-Equivalent Units until
Distributions have been paid in respect of all such Common-Equivalent Units in an aggregate amount per Point equal to the aggregate amount of Distributions per Point theretofore paid on the Common-Equivalent Units which have theretofore been paid
the third-least amount on a per-Unit basis, and so on until the same aggregate amount has been paid in respect of all Common-Equivalent Units on a per-Point basis. Amounts to be distributed to holders of any particular Common-Equivalent Units as
described in the second or third sentence of this Section 7.2(e) will be distributed pro rata among the holders of such Units on the basis of the Points represented by such Units. No Distribution or any portion thereof may be made
pursuant to Section 7.2(f) until the aggregate amount of all Distributions made in respect of each Common-Equivalent Unit is equal to the Catch-Up Amount. 
 (f) Sixth, subject to Section 7.3, to the holders of Common Units pro rata among such holders on the basis of the number of Points represented by the Common Units owned by each
of them. 
 Attached hereto as Exhibit B are examples that demonstrate how Distributions are intended to be made to holders of Units
pursuant to this Section 7.2. 
 7.3 No Right to Receive Certain Distributions. Notwithstanding
Section 7.2: 
 (a) If at the time any Distribution is made in respect of any Class C Common Unit pursuant to
Section 7.2 such Class C Common Unit is an Unvested Class C Common Unit, then the amount of such Distribution (after giving effect to Section 7.3(b)) shall be withheld from the holder of such Unvested Class C Common Unit
until the earlier to occur of (i) the time at which such Unvested Class C Common Unit becomes a Vested Class C Common Unit, whereupon the amount so withheld shall be promptly paid by the Company to such holder without interest and (ii) the
time at which such Unvested Class C Common Unit is no longer eligible for vesting, whereupon the amount so withheld shall be distributed to the other Members pursuant to Section 7.2 or retained by the Company and held or used for any
purpose, as a Majority of the Board may direct. Distributions withheld from a holder pursuant to this Section 7.3(a) will nonetheless be deemed to have been received by such holder for purposes of Section 7.2(e). 
 (b) Any holder of any Class C Common Unit will forego distributions that would otherwise be made in respect of such Class C Common Unit from
time to time pursuant to Section 7.2 (including by reason of Section 7.3(c)) in such amount(s) as may be required so that the aggregate amount of Distributions foregone with respect to such Class C Common Unit by reason of
this Section 7.3(b) is equal to the Non-Distribution Amount for such Class C Common

  

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Unit. No holder of any Class C Common Unit will later have the right to receive any Distribution which is foregone pursuant to this Section 7.3(b), except to the extent that any
portion of such foregone Distribution may be reallocated to such holder in accordance with Section 7.3(c). Distributions foregone by a holder pursuant to this Section 7.3(b) will nonetheless be deemed to have been received by
such holder for purposes of Section 7.2(e). 
 (c) All Distributions foregone in respect of Class C Common Units
pursuant to Section 7.3(b) will be reallocated and paid instead to the Unitholders in accordance with Section 7.2(e) or Section 7.2(f), as applicable (subject again to being withheld or foregone pursuant to
Section 7.3(a) or 7.3(b)); provided that the holders of Class D Common Units shall not be eligible to have any Distribution foregone in respect of Class C Common Units pursuant to Section 7.3(b) reallocated and
paid to such holders pursuant to this Section 7.3(c) and: 
 (i) for purposes of reallocating and
paying any such Distribution so foregone pursuant to this Section 7.3(c), the provisions of Sections 7.2(e) and 7.2(f) shall be given effect as if no Class D Common Units exist, and 
 (ii) for purposes of determining amounts payable to holders of Class D Common Units pursuant to Section 7.2(e),
amounts paid to holders of other Common-Equivalent Units pursuant to Sections 7.2(e) and 7.2(f) will be excluded from the Catch-Up Amount. 
 7.4 Tax Advances. Subject to the restrictions of any of the Company’s and/or its Subsidiaries’ then applicable debt financing agreements, the Board may cause the Company to
distribute to each Unitholder cash in proportion to and to the extent of such Unitholder’s Quarterly Estimated Tax Amount for the applicable calendar quarter. Any distributions described in this Section 7.4 will be made without
regard for the relative priorities and amounts set forth in Section 7.2. Distributions made pursuant to this Section 7.4 shall be taken into account as advances on distributions made pursuant to Section 7.2, and
shall (to the extent not previously taken into account pursuant to this sentence) reduce the distributions to be made to any Unitholder under Section 7.2, when and as paid by the Company. No Unitholder shall be liable to the Company for
any amount distributed to it pursuant to this Section 7.4, or for any interest on such amount. 
 7.5
Indemnification and Reimbursement for Payments on Behalf of a Unitholder. Except as otherwise provided in this Agreement, if the Company is required by law (as determined by the Tax Matters Partner based on the advice of legal or tax
counsel to the Company) to make any payment on behalf of a Unitholder in its capacity as such (including in respect of withholding taxes, personal property taxes, and unincorporated business taxes, etc.), then such Unitholder (the
“Indemnifying Unitholder”) will indemnify the Company in full for the entire amount paid, including interest, penalties and expenses associated with such payment. At the option of the Board, either: 
 (a) promptly upon notification of an obligation to indemnify the Company, the Indemnifying Unitholder will make a cash payment to the
Company in an amount equal to the full amount to be indemnified (and the amount paid will not be added to the Indemnifying Unitholder’s Capital Account or otherwise deemed to be a Capital Contribution), or 
  

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 (b) the Company will reduce the Distribution giving rise to such payment and/or any
subsequent Distributions which would otherwise be made to the Indemnifying Unitholder until the Company has recovered the amount to be indemnified (and the amount of such reduction will be deemed to have been distributed for all purposes, and such
deemed distribution will reduce the Indemnifying Unitholder’s Capital Account). 
 A Unitholder’s obligation to make
contributions to the Company under this Section 7.5 will survive the termination, dissolution, liquidation and winding up of the Company, and for purposes of this Section 7.5, the Company will be treated as continuing in
existence. The Company may pursue and enforce all rights and remedies it may have against each Unitholder under this Section 7.5, including instituting a lawsuit to collect such contribution with interest calculated at a rate equal to
the Company’s and its Subsidiaries’ effective cost of borrowed funds. 
 7.6 Non-Cash Distributions.
Notwithstanding anything in this Agreement to the contrary, the Company shall not make any Distribution in the form of non-cash property with respect to any class of Common Units unless all holders of such class of Common Units entitled to
receive such Distribution in accordance with Section 7.2 receive the identical form of non-cash consideration. 
 7.7 Redemption of Series A Preferred Units. With respect to any Series A Preferred Unit, such Series A Preferred Unit shall cease to be issued and outstanding and shall be deemed to have been redeemed upon the payment in full
in cash of each of (i) the Unreturned Capital Value of such Series A Preferred Unit, (ii) the Unpaid Yield on such Series A Preferred Unit as of the time the Unreturned Capital Value of such Series A Preferred Unit was paid in full in
cash, and (iii) the Redemption Amount (as that term is defined in the Preferred Securities Purchase Agreement), if any, that is payable pursuant to the Preferred Securities Purchase Agreement upon the redemption of such Series A Preferred Unit,
whereupon (A) the holder of such Series A Preferred Unit shall cease to have any right or obligation hereunder with respect to such Series A Preferred Unit and (B) the Secretary shall amend the Members Schedule to reflect the redemption in
full of such Series A Preferred Unit. 
 7.8 Distributions Upon Compliance with Certain Covenants.

 Notwithstanding the provisions of Sections 7.2(a) and 7.2(b) and the fact that any Series A Preferred Units
are then outstanding, the Company shall be permitted to make Distributions to the holders of Common Units in accordance with the priorities set forth in Sections 7.2(c), 7.2(d), 7.2(e) and 7.2(f) so long as the Company is in
compliance with the covenants set forth in Paragraph 6B of the Preferred Securities Purchase Agreement. 
 ARTICLE VIII 

 Allocations 
 8.1 Regular Allocations. 
 (a) Generally. Except as otherwise
provided in Section 8.2, Net Profits and Net Losses (if any) for any Fiscal Year shall be allocated among the Members in such a manner that, as of the end of such Fiscal Year, the sum of (i) the Capital Account of each Member,

  

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(ii) such Member’s share of Minimum Gain (as determined according to Treasury Regulation Section 1.704-2(g)) and (iii) such Member’s partner nonrecourse debt minimum gain
(as defined in Treasury Regulation Section 1.704-2(i)(3)) shall be equal to the respective net amounts, positive or negative, which would be distributed to such Member or for which such Member would be liable to the Company under the Delaware
Act, determined as if the Company were to (x) liquidate the assets of the Company for an amount equal to their Book Value and (y) distribute the proceeds of liquidation pursuant to Section 10.2; provided that clauses
(x) and (y) above only apply to this Section 8.1. 
 (b) Allocation for Net Profit Year. For
purposes of this Section 8.1, subject to Section 8.1(d), if the Company has Profits for a Fiscal Year or other period, then (i) Losses will first be allocated to Members whose Capital Accounts are to be reduced as a
result of the allocations under Section 8.1(a), in amounts equal to the respective amounts by which such Capital Accounts are to be so reduced, and (ii) Profits and any remaining Losses will be allocated to Members whose Capital
Accounts are to be increased as a result of the allocations under Section 8.1(a), in the proportion that the amounts of the increases to be so effected in such Members’ respective Capital Accounts bears to the aggregate amount of
the increase to be effected in all such Members’ Capital Accounts as a result of the allocations under Section 8.1(a). 
 (c) Allocation for Net Loss Year. For purposes of this Section 8.1, subject to Section 8.1(d), if the Company has Losses for a Fiscal Year or other period, then
(i) Profits will first be allocated to Members whose Capital Accounts are to be increased as a result of the allocations under Section 8.1(a), in amounts equal to the respective amounts by which such Capital Accounts are to be so
increased, and (ii) Losses and any remaining Profits will be allocated to Members whose Capital Accounts are to be reduced as a result of the allocations under Section 8.1(a), in the proportion that the amounts of the reductions to
be effected in such Members’ respective Capital Accounts bears to the aggregate amount of the reduction to be so effected in all such Members’ Capital Accounts as a result of the allocations under Section 8.1(a). 
 (d) Negative Capital Account Balances. If all items of Profit for a Fiscal Year or other period have been allocated in accordance
with Section 8.1(a) and there remain items of Loss to be allocated, then such items of Loss will be allocated to the Members pro rata according to the number of Units held by each of them. If, prior to making any allocation of items of
Profit or Loss for any Fiscal Year or other period, any Member has a negative Capital Account balance, then items of Profit will be allocated to all such Members, pro rata according to the amounts by which their respective Capital Account balances
are less then zero, until no Member has a negative Capital Account balance. 
 (e) General. Nothing herein is intended to
give rise to any guaranteed payments that would be required to be allocated to any Member. The Unitholders intend that allocations hereunder affecting Capital Accounts shall be made such that liquidation distributions made under
Section 10.2(b)(iii) shall be the same as if made in accordance with positive Capital Account balances. 
  

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 8.2 Regulatory and Special Allocations. Notwithstanding the provisions of
Section 8.1: 
 (a) To the extent an adjustment to the adjusted tax basis of any Company asset pursuant to
Code Section 734(b) or 743(b) is required to be taken into account in determining Capital Accounts, the amount of such adjustment to the Capital Accounts shall be treated, as provided in Treasury Regulation Section 1.704-1(b)(2)(iv)(m), as
an item of Profits (if the adjustment increases the basis of the asset) or Losses (if the adjustment decreases such basis) and such Profits or Losses shall be specially allocated to the Unitholders in a manner consistent with the manner in which
their Capital Accounts are required to be adjusted pursuant to such Section of the Treasury Regulations. 
 (b) If there is a
net decrease in Company Minimum Gain (determined according to Treasury Regulation Section 1.704-2(d)(1)) during any Taxable Year, each Unitholder shall be specially allocated Profits for such Taxable Year (and, if necessary, subsequent Taxable
Years) in an amount equal to such Unitholder’s share of the net decrease in Company Minimum Gain, determined in accordance with Treasury Regulation Section 1.704-2(g). The items to be so allocated shall be determined in accordance with
Treasury Regulation Sections 1.704-2(f)(6) and 1.704-2(j)(2). This Section 8.2(b) is intended to comply with the minimum gain chargeback requirement in Treasury Regulation Section 1.704-2(f) and shall be interpreted consistently
therewith. 
 (c) Unitholder Nonrecourse Deductions shall be allocated in the manner required by Treasury Regulation
Section 1.704-2(i). Except as otherwise provided in Treasury Regulation Section 1.704-2(i)(4), if there is a net decrease in Unitholder Minimum Gain during any Taxable Year, each Unitholder that has a share of such Unitholder Minimum Gain
shall be specially allocated Profits for such Taxable Year (and, if necessary, subsequent Taxable Years) in an amount equal to that Unitholder’s share of the net decrease in Unitholder Minimum Gain. Items to be allocated pursuant to this
paragraph shall be determined in accordance with Treasury Regulation Sections 1.704-2(i)(4) and 1.704-2(j)(2). This Section 8.2(c) is intended to comply with the minimum gain chargeback requirements in Treasury Regulation
Section 1.704-2(i)(4) and shall be interpreted consistently therewith. 
 (d) In the event any Unitholder unexpectedly
receives any adjustments, allocations or distributions described in Treasury Regulation Section 1.704-1(b)(2)(ii)(d)(4), (5) or (6), Profits shall be specially allocated to such Unitholder in an amount and manner sufficient to eliminate
the Adjusted Capital Account Deficit created by such adjustments, allocations or distributions as quickly as possible. This Section 8.2(d) is intended to comply with the qualified income offset requirement in Treasury Regulation
Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith. 
 (e) The allocations set forth in
Sections 8.2(a), 8.2(b), 8.2(c) and 8.2(d) (the “Regulatory Allocations”) are intended to comply with certain requirements of the Treasury Regulations under Code Section 704. Notwithstanding any other provisions
of this Article VIII (other than the Regulatory Allocations), the Regulatory Allocations shall be taken into account in allocating Profits and Losses among Unitholders so that, to the extent possible, the net amount of such allocations of
Profits and Losses and other items and the Regulatory Allocations to each

  

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Unitholder shall be equal to the net amount that would have been allocated to such Unitholder if the Regulatory Allocations had not occurred. 
 8.3 Curative Allocations. If the Tax Matters Partner determines, after consultation with counsel experienced in income tax
matters, that the allocation of any item of Company income, gain, loss, deduction or credit is not specified in this Article VIII (an “unallocated item”), or that the allocation of any item of Company income, gain, loss,
deduction or credit hereunder is clearly inconsistent with the Unitholders’ economic interests in the Company (determined by reference to the general principles of Treasury Regulation Section 1.704-1(b) and the factors set forth in
Treasury Regulation Section 1.704-1(b)(3)(ii)) (a “misallocated item”), then the Board may allocate such unallocated items, or reallocate such misallocated items, to reflect such economic interests; provided that no such
allocation will be made without the prior consent of each Unitholder that would be affected thereby (which consent no such Unitholder may unreasonably withhold) and provided further that no such allocation shall have any material effect on the
amounts distributable to any Unitholder, including the amounts to be distributed upon the complete liquidation of the Company. 
 8.4 Tax Allocations. 
 (a) All income, gains, losses, deductions and credits of the Company shall be
allocated, for federal, state and local income tax purposes, among the Unitholders in accordance with the allocation of such income, gains, losses, deductions and credits among the Unitholders for computing their Capital Accounts, except that if any
such allocation for tax purposes is not permitted by the Code or other applicable law, the Company’s subsequent income, gains, losses, deductions and credits shall be allocated among the Unitholders for tax purposes, to the extent permitted by
the Code and other applicable law, so as to reflect as nearly as possible the allocation set forth herein in computing their Capital Accounts. 
 (b) Items of Company taxable income, gain, loss and deduction with respect to any property contributed to the capital of the Company shall be allocated among the Unitholders in accordance with Code
Section 704(c) and the traditional method of Treasury Regulation Section 1.704-3(b), or such other method elected by the Tax Matters Partner, so as to take account of any variation between the adjusted basis of such property to the Company
for federal income tax purposes and its Book Value. 
 (c) If the Book Value of any Company property is adjusted pursuant to
clause (b) of the definition of “Book Value”, subsequent allocations of items of taxable income, gain, loss and deduction with respect to such property shall take account of any variation between the adjusted basis of such property
for federal income tax purposes and its Book Value in the same manner as under Code Section 704(c). 
 (d) Allocations of
tax credit, tax credit recapture, and any items related thereto shall be allocated to the Unitholders according to their interests in such items as determined by the Board taking into account the principles of Treasury Regulation
Section 1.704-1(b)(4)(ii). 
 (e) Allocations pursuant to this Section 8.4 are solely for purposes of federal,
state and local taxes and shall not affect, or in any way be taken into account in computing, any Unitholder’s Capital Account or share of Profits, Losses, distributions or other items pursuant to any provisions of this Agreement. 

 

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 8.5 Certain General Provisions. Anything herein to the contrary
notwithstanding, allocations affecting Capital Accounts shall be made such that liquidation distributions made under Section 10.2(b)(iii) shall be the same as if made in accordance with positive Capital Account balances. 

 ARTICLE IX 
 Elections and Reports 
 9.1 Generally. The Company will keep
appropriate books and records with respect to the Company’s business, including all books and records necessary to provide any information, lists and copies of documents required to be provided pursuant to Section 9.3 or pursuant to
applicable laws. The Unitholders (subject to reasonable confidentiality requirements that the Board may impose) shall have such right to request and receive such information concerning the Company and its affairs as the Company is required by the
Delaware Act to provide. 
 9.2 Tax Status. The Unitholders intend that the Company be treated as a
partnership for federal, state and local income tax purposes, and the Company and each Unitholder shall file all tax returns on the basis consistent therewith. 
 9.3 Reports. The Company will use reasonable efforts to deliver or cause to be delivered, by March 1 (and, in any event, will deliver not later than May 31) of each year, to each
Person who was a Unitholder at any time during the previous Taxable Year, all information necessary for the preparation of such Person’s United States federal income tax returns and any state, local and foreign income tax returns which such
Person is required to file as a result of the Company being engaged in a trade or business within such state, local or foreign jurisdiction, including a statement showing such Person’s share of income, gains, losses, deductions and credits for
such year for United States federal income tax purposes (and, if applicable, state, local or foreign income tax purposes) and the amount of any distributions made to or for the account of such Person. Upon the written request of any such Person, the
Company will use reasonable efforts to deliver or cause to be delivered any additional information necessary for the preparation of any state, local and foreign income tax returns which must be filed by such Person. 
 9.4 Tax Elections. The Tax Matters Partner will determine whether to make or revoke any available election pursuant to the
Code. Each Unitholder will upon request supply the information necessary to give proper effect to any such election. 
 9.5 Tax Controversies. ABRY Partners is designated the “Tax Matters Partner” (as defined in Code Section 6231) for the Company, and is authorized to represent the Company (at the Company’s expense)
in connection with all examinations of the Company’s affairs by tax authorities, including resulting administrative and judicial proceedings, and to expend Company funds for professional services and costs associated therewith; provided
that the Tax Matters Partner may be replaced by action of a Majority of the Members. Each Unitholder agrees to 

  

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cooperate with the Tax Matters Partner and to do or refrain from doing any or all things reasonably requested by the Tax Matters Partner with respect to the conduct of such proceedings.
Subject to the foregoing proviso, the Tax Matters Partner will have sole discretion to determine whether the Company (either in its own behalf or on behalf of the Unitholders) will contest or continue to contest any tax deficiencies assessed or
proposed to be assessed by any taxing authority. Any deficiency for taxes imposed on any Unitholder (including penalties, additions to tax or interest imposed with respect to such taxes) will be paid by such Unitholder, and if required to be paid
(and actually paid) by the Company, will be recoverable from such Unitholder as provided in Section 7.5. The Company shall reimburse the Tax Matters Partner for any and all reasonable expenses (including legal and accounting fees)
incurred by the Tax Matters Partner in connection with the fulfillment of its duties under this Section 9.5. This provision is not intended to authorize the Tax Matters Partner to take any action left to the determination of a partner
under Sections 6222 through 6231 of the Code. 
 9.6 UBTI/ECI. The Company shall use its best efforts not
to engage, directly (or indirectly through any entity owned by the Company that is treated as a pass-through entity for United States federal income tax purposes), in any activity that would cause a Unitholder to recognize, solely as a result of its
status as a Unitholder in the Company, either (a) unrelated business taxable income within the meaning of Section 512 of the Code (including by reason of Section 514 of the Code); or (b) income that is effectively connected with
the conduct of a trade or business in the United States, within the meaning of Section 871(b) or Section 882(a)(1) of the Code (including income described in Section 897 of the Code which is treated as income within the meaning
of Section 871(b) or 882(a)(1) of the Code). The parties anticipate that any acquisition of all or a portion of the business of, or all or a substantial portion of the assets of, any Person will be made in or through “C”
corporations. 
 ARTICLE X 
 Dissolution and Liquidation 
 10.1 Dissolution. The Company
shall be dissolved and its affairs wound up only upon the happening of any of the following events: 
 (a) The sale or
other disposition by the Company of all or substantially all of the assets it then owns; 
 (b) The election to dissolve the
Company by action of a Majority of the Members; or 
 (c) The entry of a decree of judicial dissolution under § 18-802
of the Delaware Act; provided that, notwithstanding anything contained herein to the contrary, no Member shall make an application for the dissolution of the Company pursuant to § 18-802 of the Delaware Act without the approval of a
Majority of the Members. 
 Dissolution of the Company shall be effective on the day on which the event occurs giving rise to
the dissolution, but the Company shall not terminate until the winding up of the Company has been completed, the assets of the Company have been distributed as provided in Section 10.2 and the Certificate shall have been canceled.

  

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 10.2 Liquidation. 
 (a) Liquidator. Upon dissolution of the Company, the Board will appoint a Person to act as the “Liquidator,” and such
Person shall act as the Liquidator unless and until a successor Liquidator is appointed as provided in this Section 10.2. The Liquidator may be removed at any time, with or without cause, by notice of removal and appointment of a
successor Liquidator approved by the Board. Any successor Liquidator will succeed to all rights, powers and duties of the former Liquidator. The right to appoint a successor or substitute Liquidator in the manner provided in this
Section 10.2 will be recurring and continuing for so long as the functions and services of the Liquidator are authorized to continue under the provisions of this Agreement, and every reference in this Agreement to the Liquidator will be
deemed to refer also to any such successor or substitute Liquidator appointed in the manner provided in this Section 10.2. The Liquidator will receive as compensation for its services as follows: (1) no additional compensation, if
the Liquidator is an employee of the Company or any of its Subsidiaries, or (2) if the Liquidator is not such an employee, such compensation as the Board may approve, plus, in either case, reimbursement of the Liquidator’s out-of-pocket
expenses in performing its duties. 
 (b) Liquidating Actions. The Liquidator will liquidate the assets of the Company
and apply and distribute the proceeds of such liquidation in the following order of priority, unless otherwise required by mandatory provisions of applicable law: 
 (i) First, to the payment of the Company’s debts and obligations to its creditors (including any
Unitholders who are creditors), including sales commissions and other expenses incident to any sale of the assets of the Company, in order of the priority provided by law. 
 (ii) Second, to the establishment of and additions to such reserves as the Board deems reasonably necessary or
appropriate. 
 (iii) Third, to the Unitholders, in accordance with Section 7.2.

 The reserves established pursuant to clause (ii) above will be deposited by the Liquidator with a bank or other
financial institution, to be used for the purpose of paying any such contingent or unforeseen liabilities or obligations and, as the Board deems advisable, such reserves will be distributed to the Unitholders in accordance with
Section 7.2. The allocations and distributions provided for in this Agreement are intended to result in the Capital Account of each Unitholder immediately prior to the distribution of the Company’s assets pursuant to this
Section 10.2(b) being equal to the amount distributable to such Unitholder pursuant to this Section 10.2(b). The Company is authorized to make appropriate adjustments in the allocation of Profits and Losses as necessary to
cause the amount of each Unitholder’s Capital Account immediately prior to the distribution of the Company’s assets pursuant to this Section 10.2(b) to equal the amount distributable to such Unitholder pursuant to this
Section 10.2(b). 
 (c) Distribution in Kind. Notwithstanding the provisions of Section 10.2(b)
which require the liquidation of the assets of the Company, but subject to the order of priorities set forth in Section 10.2(b), if upon dissolution of the Company the Board determines that an

  

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immediate sale of part or all of the Company’s assets would be impractical or could cause undue loss to the Unitholders, the Board may, in its sole discretion, defer the liquidation of any
assets except those necessary to satisfy Company liabilities and reserves, and may, in its absolute discretion, distribute to the Unitholders, in lieu of cash, as tenants in common or otherwise, as the Board may elect, and in accordance with the
provisions of Section 10.2(b), such Company assets as the Liquidator deems not suitable for liquidation or undivided interests therein. Any such distribution in kind will be subject to such conditions relating to the disposition and
management of such properties as the Liquidator deems reasonable and equitable and to any agreements governing the operating of such properties at such time. For purposes of any such distribution, the Board will determine the Fair Market Value of
any property to be distributed in accordance with any valuation procedure which the Board reasonably deems appropriate. 
 (d)
Reasonable Time for Winding Up. A reasonable time will be allowed for the orderly winding up of the business and affairs of the Company and the liquidation of its assets pursuant to Section 10.2(b) in order to minimize any losses
otherwise attendant upon such winding up. Distributions upon liquidation of the Company (or any Unitholder’s interest in the Company) and related adjustments will be made by the end of the Taxable Year of the liquidation (or, if later, within
90 days after the date of such liquidation) or as otherwise permitted by Treasury Regulation Section 1.704-1(b)(2)(ii)(b). 
 (e) Termination. Upon completion of the distribution of the assets of the Company as provided in Section 10.2(b) or 10.2(c), the Company shall be terminated and the Liquidator shall cause the cancellation of the
Certificate in the State of Delaware and of all qualifications and registrations of the Company as a foreign limited liability company in jurisdictions other than the State of Delaware and shall take such other actions as may be necessary to
terminate the Company. 
 ARTICLE XI 
 Transfer of Units 
 11.1 Restrictions. Each Member
acknowledges and agrees that such Member shall not Transfer any Unit except in accordance with the provisions of this Article XI, the Members Agreement, and any applicable Incentive Unit Purchase Agreement. Any attempted Transfer in violation
of the preceding sentence shall be deemed null and void for all purposes, and the Company will not record any such Transfer on its books or treat any purported transferee as the owner of such Unit for any purpose. 
 11.2 General Restrictions on Transfer. 
 (a) Notwithstanding anything to the contrary in this Agreement, no transferee of any Unit received pursuant to a Transfer (but excluding any transferee that is a Member immediately prior to such a
Transfer, who shall automatically become a Member with respect to any additional Units he, she or it so acquires) shall become a Member in respect of or be deemed to have any ownership rights in the Unit so Transferred unless the purported
transferee is admitted as a Member as set forth in Section 11.3(i). 
  

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 (b) Following a Transfer of any Unit that is permitted under this Article XI,
the Members Agreement, and any applicable Incentive Unit Purchase Agreement, the transferee of such Unit shall succeed to the Capital Account associated with such Unit and shall receive allocations and distributions under Articles VI,
VII, VIII and X in respect of such Unit(s). Notwithstanding the foregoing, Profits, Losses and other items will be allocated between the transferor and the transferee according to Code Section 706. 
 (c) Any Member who Transfers all of his, her or its Units in accordance with this Agreement, the Members Agreement, and any applicable
Incentive Unit Purchase Agreement (i) shall cease to be a Member upon such Transfer, and (ii) shall no longer possess or have the power to exercise any rights or powers of a Member of the Company. 
 11.3 Procedures for Transfer. Subject in all events to the general restrictions on Transfers contained in
Sections 11.1, 11.2 and 11.5 and any applicable restrictions in the Members Agreement, a Member may Transfer all or any part of his or its Units in accordance with this Section 11.3. 
 (i) No transferee of any Unit may be admitted as a Member of the Company until such time as such transferee has executed and
delivered to the Secretary a written undertaken to be bound by the terms and conditions of this Agreement substantially in the form of Exhibit A. Upon the amendment of the Members Schedule by the Secretary and the satisfaction of any other
applicable conditions set forth in Section 11.3(ii) below, such prospective transferee shall be admitted as a Member and deemed listed as such on the books and records of the Company and thereupon the Company shall reissue the applicable
Units in the name of such prospective transferee. The provisions of this Section 11.3(i) shall not apply with respect to the Transfer of any Unit to a transferee that is a Member immediately prior to such Transfer. 
 (ii) Unless such delivery is waived by the Company, no Member may Transfer any Restricted Securities (except pursuant to an
effective registration statement under the Securities Act) without first delivering to the Company an opinion of counsel reasonably acceptable in form and substance to the Company (which counsel will be reasonably acceptable to the Company) that
registration under the Securities Act is not required in connection with such Transfer. If such opinion of counsel states that no subsequent Transfer of such Restricted Securities will require registration under the Securities Act, the Company will
promptly upon such Transfer deliver new certificates for such securities which do not bear the Securities Act legend set forth in Section 11.4(b). 
 11.4 Legend. 
 (a) The certificates, if any, representing the Units
will bear the following legends: 
 THE TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO THE CONDITIONS
SPECIFIED IN THE LIMITED LIABILITY COMPANY AGREEMENT OF THE

  

 - 43 - 

 
ISSUER (THE ‘COMPANY’), AS IN EFFECT FROM TIME TO TIME. A COPY OF SUCH LIMITED LIABILITY COMPANY AGREEMENT AS IN EFFECT FROM TIME TO TIME SHALL BE FURNISHED WITHOUT CHARGE BY THE
COMPANY TO THE HOLDER HEREOF UPON WRITTEN REQUEST. 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT TO A
MEMBERS AGREEMENT, DATED AS OF JUNE 11, 2004, (AS IN EFFECT FROM TIME TO TIME), AMONG THE COMPANY AND CERTAIN OF THE COMPANY’S MEMBERS, AS IN EFFECT FROM TIME TO TIME. A COPY OF SUCH MEMBERS AGREEMENT AS IN EFFECT FROM TIME TO TIME SHALL
BE FURNISHED WITHOUT CHARGE BY THE COMPANY TO THE HOLDER HEREOF UPON WRITTEN REQUEST. 
 (b) Each certificate or instrument
evidencing Restricted Securities and each certificate or instrument issued in exchange for or upon the Transfer of any Restricted Securities (if such securities remain Restricted Securities after such Transfer) shall be stamped or otherwise
imprinted with a legend in substantially the following form: 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE ‘ACT’), AND MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR AN EXEMPTION FROM REGISTRATION THEREUNDER. 
 Upon the request of any holder of Restricted Securities, the Company shall remove the Securities Act legend set forth above from the
certificates for such Restricted Securities if such Restricted Securities are eligible for sale pursuant to Rule 144(k) (or any similar rule or rules then in effect) under the Securities Act. 
 11.5 Limitations. 
 (a) Notwithstanding anything to the contrary in this Agreement, no Unit may be Transferred or issued by the Company if such Transfer or issuance would require the Company to register under the Investment
Company Act of 1940, as amended from time to time. 
 (b) In order to permit the Company to qualify for the benefit of a
“safe harbor” under Code Section 7704, notwithstanding anything to the contrary in this Agreement, no Transfer of any Unit shall be permitted or recognized by the Company (within the meaning of Treasury Regulation
Section 1.7704-1(d)), and the Company shall not issue any Units, if and to the extent that such Transfer or issuance would cause the Company to have more than 100 partners (within the meaning of Treasury Regulation Section 1.7704-1(h),
including the look-through rule in Treasury Regulation Section 1.7704-1(h)(3)). 
 (c) Notwithstanding anything to the
contrary in this Agreement, no Unit may be Transferred and the Company may not issue any Unit unless (i) such Transfer or issuance, as

  

 - 44 - 

 
the case may be, shall not affect the Company’s existence or qualification as a limited liability company under the Delaware Act, (ii) such Transfer or issuance, as the case may be,
shall not cause the Company to be classified as other than a partnership for United States federal income tax purposes, (iii) such Transfer or issuance, as the case may be, shall not result in a termination of the Company under Code
Section 708, unless the Board determines that any such termination will not have a material adverse impact on the Members and (iv) such Transfer or issuance, as the case may be, shall not cause the application of the tax-exempt use
property rules of Code Sections 168(g)(l)(B) and 168(h) to the Company or its Members. 
 ARTICLE XII 
 Miscellaneous Provisions 
 12.1 Notices. All notices, demands or other communications to be given or delivered by reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given
(a) on the date of personal delivery to the recipient or an officer of the recipient, or (b) when sent by telecopy or facsimile machine to the number shown below on the date of such confirmed facsimile or telecopy transmission (provided
that a confirming copy is sent via overnight mail), or (c) when properly deposited for delivery by a nationally recognized commercial overnight delivery service, prepaid, or on the third (3rd) Business Day after deposit in the United States mail, certified or registered mail, postage
prepaid, return receipt requested. Such notices, demands and other communications shall be sent to each Member at the address set forth for such Member in the Members Agreement (including any joinder thereto) as then in effect and to the Company at
the address set forth below: 
 Language Line Holdings, LLC 
 c/o ABRY Partners IV, L.P. 
 111 Huntington Avenue 
 30th Floor 
 Boston, MA 02199 
 Facsimile: 617-859-8797 
 Attention: Peggy Koenig 
 A copy of notices to the Company (which will not constitute notice to the Company) shall be sent to: 
 Kirkland & Ellis LLP 
 Citigroup Center 
 153 East 53rd Street 
 New York, NY 10022 
 Facsimile: 212-446-4900 
 Attention: John L. Kuehn, Esq. 
 or to such other address or to the attention of such Person as the recipient party has specified by prior written notice to the sending party. 

12.2 Governing Law. To the extent required by the Delaware Act, all issues and questions concerning the application,
construction, validity, interpretation and enforcement of this Agreement and the exhibits and schedules to this Agreement shall be governed by, and construed in accordance with, the Delaware Act, without giving to effect to any choice of law or

  

 - 45 - 

 
conflict of law rules or provisions (whether of the State of Delaware or any other jurisdiction) that would cause the application of any other law. In all other respects, all issues and
questions concerning the application, construction, validity, interpretation and enforcement of this Agreement and the exhibits and schedules to this Agreement shall be governed by, and construed in accordance with the laws of the State of New York,
without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York. 

 12.3 Headings and Sections. The headings in this Agreement are inserted for convenience only and are in no way
intended to describe, interpret, define, or limit the scope, extent or intent of this Agreement or any provision of this Agreement. Unless the context requires otherwise, all references in this Agreement to Sections, Articles, Exhibits or Schedules
shall be deemed to mean and refer to Sections, Articles, Exhibits or Schedules of or to this Agreement. 
 12.4
Amendment and Waiver. 
 (a) Subject to Sections 12.4(b) through 12.4(g), no modification, amendment or
waiver of any provision of the Certificate or this Agreement, whether by merger, consolidation or otherwise, shall be effective against any party hereto unless such modification, amendment or waiver is approved in writing by a Majority of the
Members; provided that: (i) no such modification, amendment or waiver will adversely affect the rights hereunder of any of the parties hereto when compared with its effect on the other similarly situated parties hereto without the prior
written approval of a majority-in-interest of such adversely affected parties, (ii) no such modification, amendment or waiver will adversely affect the rights hereunder of any holder of Series A Preferred Units without the prior written
approval of the holders of a majority of the Series A Preferred Units (provided that such approving holders must include at least one Continuing Series A Preferred Holder if at the time such action is approved there is any Continuing Series A
Preferred Holder), and (iii) no such modification, amendment or waiver will adversely affect the rights hereunder of any holder of Class D Common Units without the prior written approval of the holders of the Class D Majority. For purposes of
this Section 12.4, any merger or consolidation that would have the effect of amending this Agreement pursuant to Section 18-209(f) of the Delaware Act shall be deemed to be an amendment of this Agreement subject to the provisions of
this Section 12.4. The failure of any party to enforce any of the provisions of this Agreement shall in no way be construed as a waiver of such provisions and shall not affect the right of such party thereafter to enforce each and every
provision of this Agreement in accordance with its terms. 
 (b) Notwithstanding anything in Section 12.4(a) to the
contrary, neither the Certificate nor this Agreement may be modified, amended or waived (whether by merger, consolidation or otherwise) without the unanimous written consent of the holders of Series A Preferred Units if the effect of such
modification, amendment or waiver would (A) modify the definition of “Yield,” “Unpaid Yield” or “Unreturned Capital Value,” as such defined terms apply to the Series A Preferred Units, (B) repeal or modify
Section 7.2 as it specifically relates to the Series A Preferred Units, or (C) repeal or modify the terms of this Section 12.4(b). 
  

 - 46 - 

 (c) Notwithstanding anything in Section 12.4(a) to the contrary, neither the
Certificate nor this Agreement may be modified, amended or waived (whether by merger, consolidation or otherwise) without the unanimous written consent of the holders of Outside Investor Class D Units if the effect of such modification, amendment or
waiver would (A) modify the definition of “Points” (as it specifically relates to Class D Common Units) or “Dilution Factor” or (B) repeal or modify the terms of this Section 12.4(c) or the definition of
“Outside Investor Class D Common Units.” 
 (d) Notwithstanding anything in Section 12.4(a) to the
contrary, neither the Certificate nor this Agreement may be modified, amended or waived (whether by merger, consolidation or otherwise) without the prior written approval of at least one Continuing Class A Common Holder if at the time of
approval of such action there is any Continuing Class A Common Holder if the effect of such modification, amendment or waiver would (i) modify or repeal the definition of “Points,” “Yield,” “Unpaid Yield” or
“Unreturned Capital Value” as such terms specifically relate to the Class A Common Units, (ii) repeal or modify Section 7.2 as it specifically relates to the Class A Common Units, (iii) otherwise reduce the
rights granted to any Member under the first sentence of Section 4.2 or Article VI, VIII or IX, (iv) conflict with the terms of the last sentence of Section 3.1(b) or Section 3.3(b) or
(v) repeal or modify the terms of this Section 12.4(d). 
 (e) Notwithstanding anything in
Section 12.4(a) to the contrary, no modification, amendment or waiver (whether by merger, consolidation or otherwise) of: (i) any requirement in this Agreement that any action be approved or joined in by a Continuing Class A
Common Holder or the definition of the term “Continuing Class A Common Holder” will be effective as against New York Life or any of its Affiliates unless either such action is approved in writing by New York Life or at the time of
approval of such action neither New York Life nor any of its Affiliates is a Continuing Class A Common Holder, (ii) any requirement in this Agreement that any action be approved or joined in by a Continuing Class D Common Holder or the
definition of the term “Continuing Class D Common Holder” will be effective as against New York Life or any of its Affiliates unless either such action is approved in writing by New York Life or at the time of approval of such action
neither New York Life nor any of its Affiliates is a Continuing Class D Common Holder, (iii) any requirement in this Agreement that any action be approved or joined in by a Continuing Series A Preferred Holder or the definition of the term
“Continuing Series A Preferred Holder” will be effective as against New York Life or any of its Affiliates unless either such action is approved in writing by New York Life or at the time of approval of such action neither New York Life
nor any of its Affiliates is a Continuing Series A Preferred Holder, or (iv) this Section 12.4(e) will be effective as against New York Life or any of its Affiliates unless either such action is approved by New York Life or at the
time of approval of such action neither New York Life nor any of its Affiliates is a Continuing Class A Common Holder, a Continuing Class D Common Holder or a Continuing Series A Preferred Holder. 
 (f) Notwithstanding anything in Section 12.4(a) to the contrary, no modification, amendment or approval (whether by merger,
consolidation or otherwise) of: (i) any requirement in this Agreement that any action be approved or joined in by a Continuing Class A Common Holder or the definition of the term “Continuing Class A Common Holder” will be
effective as against Merrill or any of its Affiliates unless either such action is approved in

  

 - 47 - 

 
writing by Merrill or at the time of approval of such action neither Merrill nor any of its Affiliates is a Continuing Class A Common Holder, (ii) any requirement in this Agreement that
any action be approved or joined in by a Continuing Class D Common Holder or the definition of the term “Continuing D Common Holder” will be effective as against Merrill or any of its Affiliates unless either such action is approved in
writing by Merrill or at the time of approval of such action neither Merrill nor any of its Affiliates is a Continuing Class D Common Holder, (iii) any requirement in this Agreement that any action be approved or joined in by a Continuing
Series A Preferred Holder or the definition of the term “Continuing Series A Preferred Holder” will be effective as against Merrill or any of its Affiliates unless either such action is approved in writing by Merrill or at the time of
approval of such action neither Merrill nor any of its Affiliates is a Continuing Series A Preferred Holder, or (iv) this Section 12.4(f) will be effective against Merrill or any of its Affiliates unless either such action is
approved by Merrill or at the time of approval of such action neither Merrill nor any of its Affiliates is a Continuing Class A Common Holder, a Continuing Class D Common Holder or a Continuing Series A Preferred Holder. 
 (g) Notwithstanding anything in this Section 12 to the contrary, a modification, amendment or waiver (whether by merger,
consolidation or otherwise) made to reflect (A) the terms and conditions of any new class or series of Equity Securities (with respect to such Equity Securities) and any restrictions, rights, preferences and privileges associated therewith or
(B)the restrictions on or rights of any Person who purchases any Equity Securities of the Company after the date hereof (with respect to such Equity Securities) shall, in each case, require only the approval of a Majority of the Members;
provided that no such modification, amendment or waiver will adversely affect the rights hereunder of any of the parties hereto when compared with its effect on the other similarly situated parties hereto without the prior written approval of
a majority-in-interest of such adversely affected parties. 
 12.5 Binding Effect. Except as otherwise provided to
the contrary in this Agreement, this Agreement shall be binding upon and inure to the benefit of the Members and their respective distributees, heirs, legal representatives, executors, administrators, successors and permitted assigns;
provided that none of (a) the rights of New York Life (or any of its Affiliates), in its capacity as a Continuing Class A Common Holder, Continuing Class D Common Holder and/or Continuing Series A Preferred Holder, pursuant to the
definition of the terms “Class D Majority,” “Outside Class D Majority” or “Majority Redeeming Class D Holders,” Section 5.7 or Section 12.4 may be assigned (other than to an Affiliate of New York
Life), nor (b) the rights of Merrill (or any of its Affiliates), in its capacity as a Continuing Class A Common Holder, Continuing Class D Common Holder and/or Continuing Series A Preferred Holder, pursuant to the definition of the terms
“Class D Majority,” “Outside Class D Majority” or “Majority Redeeming Class D Holders,” Section 5.7 or Section 12.4 may be assigned (other than to an Affiliate of Merrill) in each case without
both the prior written consent of the Company and approval of a Majority of the Board.  
 12.6
Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed to be an original and shall be binding upon the Company and the Member who executed the same, but all of such counterparts shall
constitute the same agreement. 
  

 - 48 - 

 12.7 Severability. Whenever possible, each provision of this Agreement shall
be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such
prohibition or invalidity, without invalidating the remainder of this Agreement. 
 12.8 Remedies. Each of
the parties to this Agreement shall be entitled to enforce its rights under this Agreement specifically, to recover damages and costs (including reasonable attorney’s fees) caused by any breach of any provision of this Agreement and to exercise
all other rights existing in its favor. The Members agree and acknowledge that money damages may not be an adequate remedy for any breach of the provisions of this Agreement and that any party may in its sole discretion apply to any court of law or
equity of competent jurisdiction (without posting any bond or deposit) for specific performance and/or other injunctive relief in order to enforce or prevent any violations of the provisions of this Agreement. 
 12.9 Waiver of Jury Trial. EACH PARTY TO THIS AGREEMENT HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO
TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION (I) ARISING UNDER THIS AGREEMENT OR (II) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO IN RESPECT OF THIS AGREEMENT OR ANY OF THE
TRANSACTIONS RELATED HERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY, OR OTHERWISE. EACH PARTY TO THIS AGREEMENT HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION
SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND THAT THE PARTIES TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT
TO TRIAL BY JURY. 
 12.10 No Strict Construction. The parties to this Agreement have participated jointly
in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties to this Agreement, and no presumption or burden of
proof shall arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement. 
 12.11 Entire Agreement. Except as otherwise expressly set forth in this Agreement, this Agreement and the other agreements referred to in this Agreement (including the Related Agreements) embody the complete agreement and
understanding among the parties to this Agreement with respect to the subject matter of this Agreement and supersede and preempt any prior understandings, agreements or representations by or among the parties, written or oral, which may have related
to the subject matter of this Agreement in any way (including the Existing Agreement). This Agreement shall be deemed effective on the date hereof upon the execution hereof. 
 12.12 Parties in Interest. Nothing herein shall be construed to be to the benefit of or enforceable by any Person that is not
a party hereto including any creditor of the Company. 
  

 - 49 - 

 12.13 Inconsistent Provisions of the Members Agreement. In the event that, at
any time, any provision of this Agreement is inconsistent with the requirements of any provision of the Members Agreement, the terms of the Members Agreement shall supersede and prevail over the provisions of this Agreement, and the Members shall
take such action as may be necessary to amend any such provision in this Agreement to conform with such requirements of the Members Agreement. 
 12.14 Submission to Jurisdiction. ANY AND ALL SUITS, LEGAL ACTIONS OR PROCEEDINGS ARISING OUT OF THIS AGREEMENT SHALL BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR THE UNITED STATES
DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND EACH MEMBER HEREBY SUBMITS TO AND ACCEPTS THE EXCLUSIVE JURISDICTION OF SUCH COURTS FOR THE PURPOSE OF SUCH SUITS, LEGAL ACTIONS OR PROCEEDINGS. IN ANY SUCH SUIT, LEGAL ACTION OR PROCEEDING,
EACH MEMBER WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER PROCESS AND AGREES THAT SERVICE THEREOF MAY BE MADE BY CERTIFIED OR REGISTERED MAIL DIRECTED TO IT AT ITS ADDRESS SET FORTH IN THE BOOKS AND RECORDS OF THE COMPANY. TO THE
FULLEST EXTENT PERMITTED BY LAW, EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OR ANY SUCH SUIT, LEGAL ACTION OR PROCEEDING IN ANY SUCH COURT AND HEREBY FURTHER WAIVES ANY CLAIM
THAT ANY SUIT, LEGAL ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 
 12.15 Time of the Essence; Computation of Time. Time is of the essence for each and every provision of this Agreement. Whenever the last day for the exercise of any privilege or the discharge or any duty hereunder shall fall
upon a day that is not a Business Day, the party having such privilege or duty may exercise such privilege or discharge such duty on the next succeeding day which is a Business Day. 
 12.16 Certain Terms. The use of the word “including” herein shall mean “including without limitation.” Any
definitions used herein defined in the plural shall be deemed to include the singular as the context may require and any definitions used herein defined in the singular shall be deemed to include the plural as the context may require. Wherever
reference is made herein to the male, female or neuter genders, such reference shall be deemed to include any of the other genders as the context may require. 
 *    *    *    *    * 
  

 - 50 - 

 IN WITNESS WHEREOF, the undersigned, have executed this Amended and Restated Limited
Liability Company Agreement as of the date first written above. 
  

					
	LANGUAGE LINE HOLDINGS, LLC
		
	By:	 	 

		 	Name:	 	C.J. Brucato
		 	Title:	 	Vice President
	  
 ABRY PARTNERS IV, L.P.
  

	By:	 	 ABRY Capital Partners, L.P.,
 Its General Partner
  

	By:	 	 ABRY Capital Partners, LLC,
 Its General Partner

		
	By:	 	 

		 	Name:	 	Peggy Koenig
		 	Title:	 	Vice President
	
	ABRY INVESTMENT PARTNERSHIP, L.P.
		
	By:	 	ABRY Investment GP, LLC
		
	By:	 	 

		 	Name:	 	Peggy Koenig
		 	Title:	 	Vice President
	
	ABRY MEZZANINE PARTNERS, L.P.
		
	By:	 	 ABRY MEZZANINE INVESTORS, L.P.,
 its General Partner

		
	By:	 	 ABRY MEZZANINE HOLDINGS LLC
 its General Partner

		
	By:	 	 

		 	Name:	 	Peggy Koenig
		 	Title:	 	Vice President
	
	MERRILL LYNCH CAPITAL CORPORATION
		
	By:	 	 

		 	Name:	 	Jack Mann
		 	Title:	 	President

 [more signatures follow on next page] 

					
	NEW YORK LIFE CAPITAL PARTNERS II, L.P.
		
	By:	 	 NYLCAP Manager LLC,
 its Investment Manager

		
	By:	 	 

		 	Name:	 	Kevin A. Smith
		 	Title:	 	Vice President

 [more signatures follow on next page] 

			
	DENNIS G. DRACUP DECLARATION OF TRUST DATED 01.19.1999.
		
	By:	 	 

		 	Name: Dennis G. Dracup, Trustee
	
	CHRISTINE L. DRACUP DECLARATION OF TRUST DATED 01.19.1999.
		
	By:	 	 

		 	Name: Christine L. Dracup, Trustee
		
		 	 

		 	MATTHEW GIBBS
		
		 	 

		 	JAMES MOORE
		
		 	 

		 	JEANNE ANDERSON
		
		 	 

		 	DENNIS BAILEY
		
		 	 

		 	PHIL SPECIALE
		
		 	 

		 	YUNG-CHUNG HEH

 Exhibit A 
 FORM OF JOINDER TO AMENDED 
 AND RESTATED LIMITED
LIABILITY COMPANY AGREEMENT 
 THIS JOINDER to the Amended and Restated Limited Liability Company Agreement of Language
Line Holdings, LLC, a Delaware limited liability company (the “Company”), dated as of June [    ], 2004, as amended or restated from time to time, by and among the Company and the Members of the Company
(the “Agreement”), is made and entered into as of [            ] by and between the Company and
[                    ] (“Holder”). Capitalized terms used herein but not otherwise defined shall have the meanings set forth
in the Agreement. 
 WHEREAS, on the date hereof, Holder has acquired
[            ] [Class/Series] [    ] Units from
[                    ] and the Agreement and the Company require Holder, as a holder of such [Class/Series]
[    ] Units, to become a party to the Agreement, and Holder agrees to do so in accordance with the terms hereof. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties of this
Joinder hereby agree as follows: 
 1. Agreement to be Bound. Holder hereby (i) acknowledges that it has received
and reviewed a complete copy of the Agreement and (ii) agrees that upon execution of this Joinder, it shall become a party to the Agreement and shall be fully bound by, and subject to, all of the covenants, terms and conditions of the Agreement
as though an original party thereto and shall be deemed, and is hereby admitted as, a Member for all purposes thereof and entitled to all the rights incidental thereto. 
 2. Governing Law. This Agreement and the rights of the parties hereunder shall be interpreted in accordance with the laws of the State of Delaware, and all rights and remedies shall be
governed by such laws without regard to principles of conflicts of laws. 
 3. Descriptive Headings. The descriptive
headings of this Joinder are inserted for convenience only and do not constitute a part of this Joinder. 
 4.
Counterparts. This Joinder may be executed in counterparts each of which, taken together, shall constitute one and the same original. 
 *    *    *    *    * 
  

 A - 1 

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

			
	LANGUAGE LINE HOLDINGS, LLC
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	[HOLDER]
		
	By:	 	 
		 	Name:
		 	Title:

  

 A - 2 

 SCHEDULE A 
 Officers of Language Line Holdings, LLC 
 (as of
June 11, 2004) 
  

			
	 Name
	  	 Title

	Dennis Dracup	  	President and Chief Executive Officer
	Matthew Gibbs	  	Vice President and Chief Financial Officer
		  	Secretary
		  	Assistant Secretary
	James L. Moore, Jr.	  	Chief Information Officer
	Jeanne Anderson	  	Vice President of Operations
	Dennis Bailey	  	Vice President of Sales
	Phil Speciale	  	Vice President of Marketing
	Peggy Koenig	  	Vice President
	C.J. Brucato	  	Vice President

  

 Schedule A, Page 1 

 SCHEDULE B 
 MEMBERS SCHEDULE 
 (as of June 11, 2004)

 Members 
  

										
	 Name
	  	 Units
	 	 	 Capital
Contribution
	 
	ABRY Partners IV, L.P.	  	Class A Common Units	  	99,596,745	  	 	$	99,596,745	  
	ABRY Investment Partnership, L.P.	  	Class A Common Units	  	52,000	  	 	$	52,000	  
	ABRY Mezzanine Partners, L.P.	  	 Series A Preferred Units
 Class A Common Units
 Class D Common Units
	  	47,000,000
4,872,085
2,917,960	  
  
  	 	$
 $
  
	47,000,000
 4,872,085
   
	* 
   
 ** 

	New York Life Capital Partners II, L.P.	  	 Series A Preferred Units
 Class A Common Units
 Class D Common Units
	  	20,000,000
4,872,085
1,241,685	  
  
  	 	$
 $
  
	20,000,000
 4,872,085
   
	* 
   
 ** 

	Merrill Lynch Capital Corporation	  	 Series A Preferred Units
 Class A Common Units
 Class D Common Units
	  	15,000,000
4,872,085
931,264	  
  
  	 	$
 $
  
	15,000,000
 4,872,085
   
	* 
   
 ** 

	Dennis G. Dracup Declaration of Trust dated 01.19.1999	  	 Class A Common Units
 Class
C Common Units
	  	1,000,000
5,818,182	  
  	 	$
$	1,000,000
 0	  
  
	Christine L. Dracup Declaration of Trust dated 01.19.1999	  	 Class A Common Units
 Class
C Common Units
	  	1,000,000
5,818,182	  
  	 	$
 $
	1,000,000
 0
	  
   

	Matthew Gibbs	  	 Class A Common Units
 Class
C Common Units
	  	1,500,000
4,000,000	  
  	 	$
 $
	1,500,000
  0
	  
   

	James Moore	  	 Class A Common Units
 Class
C Common Units***
	  	650,000
781,149	  
*** 	 	$
 $
	650,000
  0
	  
   

	Jeanne Anderson	  	 Class A Common Units
 Class
C Common Units***
	  	650,000
781,149	  
*** 	 	$
 $
	650,000
  0
	  
   

	Dennis Bailey	  	 Class A Common Units
 Class
C Common Units***
	  	135,000
781,149	  
*** 	 	$
 $
	135,000
  0
	  
   

	Phil Speciale	  	 Class A Common Units
 Class
C Common Units***
	  	700,000
781,149	  
*** 	 	$
 $
	700,000
  0
	  
   

	Yung-Chung Heh	  	Class A Common Units	  	100,000	  	 	$	100,000	  

  

	*	Includes Capital Contribution for Class D Common Units. 

	**	Included in amount specified above for Series A Preferred Units. 

	***	To be issued after the date of this Agreement. 

  

 Schedule B, Page 1 

 JOINDER TO AMENDED 
 AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT 
 THIS JOINDER
to the Amended and Restated Limited Liability Company Agreement of Language Line Holdings, LLC, a Delaware limited liability company (the “Company”), dated as of June 11, 2004, as amended or restated from time to time, by and
among the Company and the Members of the Company (the “Agreement”), is made and entered into as of July 14, 2004 by and between the Company and Andy Bolotnikov (“Holder”). Capitalized terms used herein but not
otherwise defined shall have the meanings set forth in the Agreement. 
 WHEREAS, on the date hereof, Holder has acquired 100,000 Class C Units
from the Company and the Agreement and the Company require Holder, as a holder of such Class C Units, to become a party to the Agreement, and Holder agrees to do so in accordance with the terms hereof. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties of this Joinder hereby agree as follows: 
 1. Agreement to be Bound. Holder hereby
(i) acknowledges that it has received and reviewed a complete copy of the Agreement and (ii) agrees that upon execution of this Joinder, it shall become a party to the Agreement and shall be fully bound by, and subject to, all of the
covenants, terms and conditions of the Agreement as though an original party thereto and shall be deemed, and is hereby admitted as, a Member for all purposes thereof and entitled to all the rights incidental thereto. 
 2. Governing Law. This Agreement and the rights of the parties hereunder shall be interpreted in accordance with the laws of the State of
Delaware, and all rights and remedies shall be governed by such laws without regard to principles of conflicts of laws. 
 3. Descriptive
Headings. The descriptive headings of this Joinder are inserted for convenience only and do not constitute a part of this Joinder. 
 4.
Counterparts. This Joinder may be executed in counterparts each of which, taken together, shall constitute one and the same original. 
 *    *    *    *    * 
  

 9 

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

  

					
	LANGUAGE LINE HOLDINGS, LLC
		
	By:	 	

		 	Name:	 	Dennis Dracup
		 	Title:	 	President
	
	ANDY BOLOTNIKOV
		
	By:	 	

		 	Name:	 	Andy Bolotnikov
		 	Title:	 	

  

 10 

 JOINDER TO AMENDED 
 AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT 
 THIS JOINDER
to the Amended and Restated Limited Liability Company Agreement of Language Line Holdings, LLC, a Delaware limited liability company (the “Company”), dated as of June 11,2004, as amended or restated from time to time, by and
among the Company and the Members of the Company (the “Agreement”), is made and entered into as of July 14, 2004 by and between the Company and Mary Lou Emmert (“Holder”). Capitalized terms used herein but not
otherwise defined shall have the meanings set forth in the Agreement. 
 WHEREAS, on the date hereof, Holder has acquired 100,000 Class C Units
from the Company and the Agreement and the Company require Holder, as a holder of such Class C Units, to become a party to the Agreement, and Holder agrees to do so in accordance with the terms hereof. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties of this Joinder hereby agree as follows: 
 1. Agreement to be Bound. Holder hereby
(i) acknowledges that it has received and reviewed a complete copy of the Agreement and (ii) agrees that upon execution of this Joinder, it shall become a party to the Agreement and shall be fully bound by, and subject to, all of the
covenants, terms and conditions of the Agreement as though an original party thereto and shall be deemed, and is hereby admitted as, a Member for all purposes thereof and entitled to all the rights incidental thereto. 
 2. Governing Law. This Agreement and the rights of the parties hereunder shall be interpreted in accordance with the laws of the State of
Delaware, and all rights and remedies shall be governed by such laws without regard to principles of conflicts of laws. 
 3. Descriptive
Headings. The descriptive headings of this Joinder are inserted for convenience only and do not constitute a part of this Joinder. 
 4.
Counterparts. This Joinder may be executed in counterparts each of which, taken together, shall constitute one and the same original. 
 * * * * * 
  

 13 

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

  

					
	LANGUAGE LINE HOLDINGS, LLC
		
	By:	 	

		 	Name:	 	Dennis Dracup
		 	Title:	 	President
	
	MARY LOU EMMERT
		
	By:	 	

		 	Name:	 	Mary Lou Emmert
		 	Title:	 	Human Resources Director

  

 14 

 JOINDER TO AMENDED 
 AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT 
 THIS JOINDER
to the Amended and Restated Limited Liability Company Agreement of Language Line Holdings, LLC, a Delaware limited liability company (the “Company”), dated as of June 11, 2004, as amended or restated from time to time, by and
among the Company and the Members of the Company (the “Agreement”), is made and entered into as of July 14, 2004 by and between the Company and Joe Garcia (“Holder”). Capitalized terms used herein but not
otherwise defined shall have the meanings set forth in the Agreement. 
 WHEREAS, on the date hereof, Holder has acquired 100,000 Class C Units
from the Company and the Agreement and the Company require Holder, as a holder of such Class C Units, to become a party to the Agreement, and Holder agrees to do so in accordance with the terms hereof. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties of this Joinder hereby agree as follows: 
 1. Agreement to be Bound. Holder hereby
(i) acknowledges that it has received and reviewed a complete copy of the Agreement and (ii) agrees that upon execution of this Joinder, it shall become a party to the Agreement and shall be fully bound by, and subject to, all of the
covenants, terms and conditions of the Agreement as though an original party thereto and shall be deemed, and is hereby admitted as, a Member for all purposes thereof and entitled to all the rights incidental thereto. 
 2. Governing Law. This Agreement and the rights of the parties hereunder shall be interpreted in accordance with the laws of the State of
Delaware, and all rights and remedies shall be governed by such laws without regard to principles of conflicts of laws. 
 3. Descriptive
Headings. The descriptive headings of this Joinder are inserted for convenience only and do not constitute a part of this Joinder. 
 4.
Counterparts. This Joinder may be executed in counterparts each of which, taken together, shall constitute one and the same original. 
 *    *    *    *    * 
  

 15 

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

  

					
	LANGUAGE LINE HOLDINGS, LLC
		
	By:	 	

		 	Name:	 	Dennis Dracup
		 	Title:	 	President
	
	JOE GARCIA
		
	By:	 	

		 	Name:	 	Joe Garcia
		 	Title:	 	Director of Telecom

  

 16 

 JOINDER TO AMENDED  
 AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT 
 THIS JOINDER
to the Amended and Restated Limited Liability Company Agreement of Language Line Holdings, LLC, a Delaware limited liability company (the “Company”), dated as of June 11, 2004, as amended or restated from time to time, by and
among the Company and the Members of the Company (the “Agreement”), is made and entered into as of July 14, 2004 by and between the Company and Danyune Geertsen(“Holder”). Capitalized terms used herein but not
otherwise defined shall have the meanings set forth in the Agreement. 
 WHEREAS, on the date hereof, Holder has acquired 100,000 Class C Units
from the Company and the Agreement and the Company require Holder, as a holder of such Class C Units, to become a party to the Agreement, and Holder agrees to do so in accordance with the terms hereof. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties of this Joinder hereby agree as follows: 
 1. Agreement to be Bound. Holder hereby
(i) acknowledges that it has received and reviewed a complete copy of the Agreement and (ii) agrees that upon execution of this Joinder, it shall become a party to the Agreement and shall be fully bound by, and subject to, all of the
covenants, terms and conditions of the Agreement as though an original party thereto and shall be deemed, and is hereby admitted as, a Member for all purposes thereof and entitled to all the rights incidental thereto. 
 2. Governing Law. This Agreement and the rights of the parties hereunder shall be interpreted in accordance with the laws of the State of
Delaware, and all rights and remedies shall be governed by such laws without regard to principles of conflicts of laws. 
 3. Descriptive
Headings. The descriptive headings of this Joinder are inserted for convenience only and do not constitute a part of this Joinder. 
 4.
Counterparts. This Joinder may be executed in counterparts each of which, taken together, shall constitute one and the same original. 
 *    *    *    *    * 
  

 17 

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

  

					
	LANGUAGE LINE HOLDINGS, LLC
		
	By:	 	

		 	Name:	 	D G Dracup
		 	Title:	 	President
	
	DANYUNE GEERTSEN
		
	By:	 	

		 	Name:	 	Danyune Geertsen
		 	Title:	 	Director, Training & Quality

  

 18 

 JOINDER TO AMENDED  
 AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT 
 THIS JOINDER to the Amended and Restated Limited Liability Company Agreement of Language Line Holdings, LLC, a Delaware limited liability company (the “Company”), dated as of June 11, 2004, as amended or
restated from time to time, by and among the Company and the Members of the Company (the “Agreement”), is made and entered into as of November 15, 2004 by and between the Company and Jeffrey C. Grace
(“Holder”). Capitalized terms used herein but not otherwise defined shall have the meanings set forth in the Agreement. 
 WHEREAS, on the date hereof, Holder has acquired 100,000 Class C Units from the Company and the Agreement and the Company require Holder, as a holder of such Class C Units, to become a party to the
Agreement, and Holder agrees to do so in accordance with the terms hereof. 
 NOW, THEREFORE, in consideration of the
mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties of this Joinder hereby agree as follows: 
 1. Agreement to be Bound. Holder hereby (i) acknowledges that it has received and reviewed a complete copy of the Agreement and (ii) agrees
that upon execution of this Joinder, it shall become a party to the Agreement and shall be fully bound by, and subject to, all of the covenants, terms and conditions of the Agreement as though an original party thereto and shall be deemed, and is
hereby admitted as, a Member for all purposes thereof and entitled to all the rights incidental thereto. 
 2. Governing Law. This
Agreement and the rights of the parties hereunder shall be interpreted in accordance with the laws of the State of Delaware, and all rights and remedies shall be governed by such laws without regard to principles of conflicts of laws. 
 3. Descriptive Headings. The descriptive headings of this Joinder are inserted for convenience only and do not constitute a part of this Joinder.

 4. Counterparts. This Joinder may be executed in counterparts each of which, taken together, shall constitute one and the same
original. 
 *    *    *    *    * 

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

					
	LANGUAGE LINE HOLDINGS, LLC
		
	By:	 	 

		 	Name:	 	D G Dracup
		 	Title:	 	President
	
	JEFFREY C. GRACE
		
	By:	 	 

		 	Name:	 	Jeffrey C. Grace
		 	Title:	 	Controller

 JOINDER TO AMENDED 
 AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT 
 THIS JOINDER
to the Amended and Restated Limited Liability Company Agreement of Language Line Holdings, LLC, a Delaware limited liability company (the “Company”), dated as of June 11, 2004, as amended or restated from time to time, by and
among the Company and the Members of the Company (the “Agreement”), is made and entered into as of July 14, 2004 by and between the Company and David Knollhoff (“Holder”). Capitalized terms used herein but not
otherwise defined shall have the meanings set forth in the Agreement. 
 WHEREAS, on the date hereof, Holder has acquired 100,000 Class C Units
from the Company and the Agreement and the Company require Holder, as a holder of such Class C Units, to become a party to the Agreement, and Holder agrees to do so in accordance with the terms hereof. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties of this Joinder hereby agree as follows: 
 1. Agreement to be Bound. Holder hereby
(i) acknowledges that it has received and reviewed a complete copy of the Agreement and (ii) agrees that upon execution of this Joinder, it shall become a party to the Agreement and shall be fully bound by, and subject to, all of the
covenants, terms and conditions of the Agreement as though an original party thereto and shall be deemed, and is hereby admitted as, a Member for all purposes thereof and entitled to all the rights incidental thereto. 
 2. Governing Law. This Agreement and the rights of the parties hereunder shall be interpreted in accordance with the laws of the State of
Delaware, and all rights and remedies shall be governed by such laws without regard to principles of conflicts of laws. 
 3. Descriptive
Headings. The descriptive headings of this Joinder are inserted for convenience only and do not constitute a part of this Joinder. 
 4.
Counterparts. This Joinder may be executed in counterparts each of which, taken together, shall constitute one and the same original. 
 *    *    *    *    * 
  

 23 

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

  

					
	LANGUAGE LINE HOLDINGS, LLC
		
	By:	 	 

		 	Name:	 	Dennis Dracup
		 	Title:	 	President
	
	DAVID KNOLLHOFF
		
	By:	 	 

		 	Name:	 	David Knollhoff
		 	Title:	 	 Director Computer Operations &
 Network Services

  

 24 

 JOINDER TO AMENDED  
 AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT 
 THIS JOINDER
to the Amended and Restated Limited Liability Company Agreement of Language Line Holdings, LLC, a Delaware limited liability company (the “Company”), dated as of June 11, 2004, as amended or restated from time to time, by and
among the Company and the Members of the Company (the “Agreement”), is made and entered into as of July 14, 2004 by and between the Company and Shannon Lee (“Holder”). Capitalized terms used herein but not
otherwise defined shall have the meanings set forth in the Agreement. 
 WHEREAS, on the date hereof, Holder has acquired 100,000 Class C Units
from the Company and the Agreement and the Company require Holder, as a holder of such Class C Units, to become a party to the Agreement, and Holder agrees to do so in accordance with the terms hereof. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties of this Joinder hereby agree as follows: 
 1. Agreement to be Bound. Holder hereby
(i) acknowledges that it has received and reviewed a complete copy of the Agreement and (ii) agrees that upon execution of this Joinder, it shall become a party to the Agreement and shall be fully bound by, and subject to, all of the
covenants, terms and conditions of the Agreement as though an original party thereto and shall be deemed, and is hereby admitted as, a Member for all purposes thereof and entitled to all the rights incidental thereto. 
 2. Governing Law. This Agreement and the rights of the parties hereunder shall be interpreted in accordance with the laws of the State of
Delaware, and all rights and remedies shall be governed by such laws without regard to principles of conflicts of laws. 
 3. Descriptive
Headings. The descriptive headings of this Joinder are inserted for convenience only and do not constitute a part of this Joinder. 
 4.
Counterparts. This Joinder may be executed in counterparts each of which, taken together, shall constitute one and the same original. 
 *    *    *    *    * 
  

 25 

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

  

					
	LANGUAGE LINE HOLDINGS, LLC
		
	By:	 	 

		 	 Name:
 Title:
	 	 Dennis Dracup
 President

	
	SHANNON LEE
		
	By:	 	 

		 	 Name:
 Title:
	 	 Shannon Lee
 Director of
Finance

  

 26 

 JOINDER TO AMENDED 
 AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT 
 THIS JOINDER
to the Amended and Restated Limited Liability Company Agreement of Language Line Holdings, LLC, a Delaware limited liability company (the “Company”), dated as of June 11, 2004, as amended or restated from time to time, by and
among the Company and the Members of the Company (the “Agreement”), is made and entered into as of July 14, 2004 by and between the Company and Diane Mouradian (‘Holder”). Capitalized terms used herein but not
otherwise defined shall have the meanings set forth in the Agreement. 
 WHEREAS, on the date hereof, Holder has acquired 100,000 Class C Units
from the Company and the Agreement and the Company require Holder, as a holder of such Class C Units, to become a party to the Agreement, and Holder agrees to do so in accordance with the terms hereof. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties of this Joinder hereby agree as follows: 
 1. Agreement to be Bound. Holder hereby
(i) acknowledges that it has received and reviewed a complete copy of the Agreement and (ii) agrees that upon execution of this Joinder, it shall become a party to the Agreement and shall be fully bound by, and subject to, all of the
covenants, terms and conditions of the Agreement as though an original party thereto and shall be deemed, and is hereby admitted as, a Member for all purposes thereof and entitled to all the rights incidental thereto. 
 2. Governing Law. This Agreement and the rights of the parties hereunder shall be interpreted in accordance with the laws of the State of
Delaware, and all rights and remedies shall be governed by such laws without regard to principles of conflicts of laws. 
 3. Descriptive
Headings. The descriptive headings of this Joinder are inserted for convenience only and do not constitute a part of this Joinder. 
 4.
Counterparts. This Joinder may be executed in counterparts each of which, taken together, shall constitute one and the same original. 
 *    *    *    *    * 
  

 27 

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

  

					
	LANGUAGE LINE HOLDINGS, LLC
		
	By:	 	 

		 	Name:	 	Dennis Dracup
		 	Title:	 	President
	
	DIANE MOURADIAN
		
	By:	 	 

		 	Name:	 	Diane Mouradian
		 	Title:	 	Director of Operations

  

 28 

 JOINDER TO AMENDED 
 AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT 
 THIS JOINDER to the Amended and Restated Limited Liability Company Agreement of Language Line Holdings, LLC, a Delaware limited liability company (the “Company”), dated as of June 11, 2004, as amended or
restated from time to time, by and among the Company and the Members of the Company (the “Agreement”), is made and entered into as of November 15, 2004 by and between the Company and Louis Provenzano
(“Holder”). Capitalized terms used herein but not otherwise defined shall have the meanings set forth in the Agreement. 
 WHEREAS, on the date hereof, Holder has acquired 500,000 Class C Units from the Company and the Agreement and the Company require Holder, as a holder of such Class C Units, to become a party to the
Agreement, and Holder agrees to do so in accordance with the terms hereof. 
 NOW, THEREFORE, in consideration of the
mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties of this Joinder hereby agree as follows: 
 1. Agreement to be Bound. Holder hereby (i) acknowledges that it has received and reviewed a complete copy of the Agreement and (ii) agrees
that upon execution of this Joinder, it shall become a party to the Agreement and shall be fully bound by, and subject to, all of the covenants, terms and conditions of the Agreement as though an original party thereto and shall be deemed, and is
hereby admitted as, a Member for all purposes thereof and entitled to all the rights incidental thereto. 
 2. Governing Law. This
Agreement and the rights of the parties hereunder shall be interpreted in accordance with the laws of the State of Delaware, and all rights and remedies shall be governed by such laws without regard to principles of conflicts of laws. 
 3. Descriptive Headings. The descriptive headings of this Joinder are inserted for convenience only and do not constitute a part of this Joinder.

 4. Counterparts. This Joinder may be executed in counterparts each of which, taken together, shall constitute one and the same
original. 
 *    *    *    *    * 

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

					
	LANGUAGE LINE HOLDINGS, LLC
		
	By:	 	 

		 	Name:	 	D G Dracup
		 	Title:	 	President
	
	LOUIS PROVENZANO
		
	By:	 	 

		 	Name:	 	Louis Provenzano
		 	Title:	 	

 JOINDER TO AMENDED 
 AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT 
 THIS JOINDER
to the Amended and Restated Limited Liability Company Agreement of Language Line Holdings, LLC, a Delaware limited liability company (the “Company”), dated as of June 11, 2004, as amended or restated from time to time, by and
among the Company and the Members of the Company (the “Agreement”), is made and entered into as of July 14, 2004 by and between the Company and Thomas Stems (“Holder”). Capitalized terms used herein but not
otherwise defined shall have the meanings set forth in the Agreement. 
 WHEREAS, on the date hereof, Holder has acquired 100,000 Class C Units
from the Company and the Agreement and the Company require Holder, as a holder of such Class C Units, to become a party to the Agreement, and Holder agrees to do so in accordance with the terms hereof. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties of this Joinder hereby agree as follows: 
 1. Agreement to be Bound. Holder hereby
(i) acknowledges that it has received and reviewed a complete copy of the Agreement and (ii) agrees that upon execution of this Joinder, it shall become a party to the Agreement and shall be fully bound by, and subject to, all of the
covenants, terms and conditions of the Agreement as though an original party thereto and shall be deemed, and is hereby admitted as, a Member for all purposes thereof and entitled to all the rights incidental thereto. 
 2. Governing Law. This Agreement and the rights of the parties hereunder shall be interpreted in accordance with the laws of the State of
Delaware, and all rights and remedies shall be governed by such laws without regard to principles of conflicts of laws. 
 3. Descriptive
Headings. The descriptive headings of this Joinder are inserted for convenience only and do not constitute a part of this Joinder. 
 4.
Counterparts. This Joinder may be executed in counterparts each of which, taken together, shall constitute one and the same original. 
 *    *    *    *    * 
  

 29 

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

  

					
	LANGUAGE LINE HOLDINGS, LLC
		
	By:	 	 

		 	Name:	 	Dennis Dracup
		 	Title:	 	President
	THOMAS STERNS
		
	By:	 	 

		 	Name:	 	Thomas Sterns
		 	Title:	 	

  

 30 

 JOINDER TO AMENDED 
 AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT 
 THIS JOINDER
to the Amended and Restated Limited Liability Company Agreement of Language Line Holdings, LLC, a Delaware limited liability company (the “Company”), dated as of June 11, 2004, as amended or restated from time to time, by and
among the Company and the Members of the Company (the “Agreement”), is made and entered into as of July 14, 2004 by and between the Company and James Tallman (“Holder”). Capitalized terms used herein but not
otherwise defined shall have the meanings set forth in the Agreement. 
 WHEREAS, on the date hereof, Holder has acquired 100,000 Class C Units
from the Company and the Agreement and the Company require Holder, as a holder of such Class C Units, to become a party to the Agreement, and Holder agrees to do so in accordance with the terms hereof. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties of this Joinder hereby agree as follows: 
 1. Agreement to be Bound. Holder hereby
(i) acknowledges that it has received and reviewed a complete copy of the Agreement and (ii) agrees that upon execution of this Joinder, it shall become a party to the Agreement and shall be fully bound by, and subject to, all of the
covenants, terms and conditions of the Agreement as though an original party thereto and shall be deemed, and is hereby admitted as, a Member for all purposes thereof and entitled to all the rights incidental thereto. 
 2. Governing Law. This Agreement and the rights of the parties hereunder shall be interpreted in accordance with the laws of the State of
Delaware, and all rights and remedies shall be governed by such laws without regard to principles of conflicts of laws. 
 3. Descriptive
Headings. The descriptive headings of this Joinder are inserted for convenience only and do not constitute a part of this Joinder. 
 4.
Counterparts. This Joinder may be executed in counterparts each of which, taken together, shall constitute one and the same original. 
 *    *    *    *    * 
  

 31 

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

  

					
	LANGUAGE LINE HOLDINGS, LLC
		
	By:	 	 

		 	Name:	 	Dennis Dracup
		 	Title:	 	President

  

					
	JAMES TALLMAN
		
	By:	 	 

		 	Name:	 	James Tallman
		 	Title:	 	Director

  

 32 

 JOINDER TO AMENDED  
 AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT 
 THIS JOINDER
to the Amended and Restated Limited Liability Company Agreement of Language Line Holdings, LLC, a Delaware limited liability company (the “Company”), dated as of June 11, 2004, as amended or restated from time to time, by and
among the Company and the Members of the Company (the “Agreement”), is made and entered into as of July 14, 2004 by and between the Company and David Jose (“Holder”). Capitalized terms used herein but not
otherwise defined shall have the meanings set forth in the Agreement. 
 WHEREAS, on the date hereof, Holder has acquired 50,000 Class C Units
from the Company and the Agreement and the Company require Holder, as a holder of such Class C Units, to become a party to the Agreement, and Holder agrees to do so in accordance with the terms hereof. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties of this Joinder hereby agree as follows: 
 1. Agreement to be Bound. Holder hereby
(i) acknowledges that it has received and reviewed a complete copy of the Agreement and (ii) agrees that upon execution of this Joinder, it shall become a party to the Agreement and shall be fully bound by, and subject to, all of the
covenants, terms and conditions of the Agreement as though an original party thereto and shall be deemed, and is hereby admitted as, a Member for all purposes thereof and entitled to all the rights incidental thereto. 
 2. Governing Law. This Agreement and the rights of the parties hereunder shall be interpreted in accordance with the laws of the State of
Delaware, and all rights and remedies shall be governed by such laws without regard to principles of conflicts of laws. 
 3. Descriptive
Headings. The descriptive headings of this Joinder are inserted for convenience only and do not constitute a part of this Joinder. 
 4.
Counterparts. This Joinder may be executed in counterparts each of which, taken together, shall constitute one and the same original. 
     *    *    *    *    * 
  

 33 

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

  

					
	LANGUAGE LINE HOLDINGS, LLC
		
	By:	 	 

		 	Name:	 	Dennis Dracup
		 	Title:	 	President

  

					
	DAVID JOSE
		
	By:	 	 

		 	Name:	 	David Jose
		 	Title:	 	

  

 34

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