Document:

Exhibit 10.9

Execution Copy

 CONFIDENTIAL

 CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL

PORTIONS OF THIS DOCUMENT HAVE BEEN REDACTED AND HAVE

BEEN SEPARATELY FILED WITH THE COMMISSION

 ASSET PURCHASE AGREEMENT

 by and among

 SOMA MEDICAL ASSESSMENTS CORP.

EXAMWORKS GROUP, INC.,

SOMA MEDICAL ASSESSMENTS INC.,

1495929 ONTARIO INC.,

 and

TROY CUMISKEY

DATED AS OF JUNE 30, 2010

 CONFIDENTIAL

TABLE OF CONTENTS

				
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	 Article I     DEFINITIONS	 1
	     Section 1.1	 Certain Definitions	 1
	     Section 1.2	 Other Definitions	 13
	 Article II     PURCHASE AND SALE	 13
	     Section 2.1	 Agreement to Purchase and Sell	 13
	     Section 2.2	 Excluded Assets	 14
	     Section 2.3	 Assumption of Assumed Liabilities	 15
	     Section 2.4	 Specifically Excluded Liabilities	 16
	 Article III     PURCHASE PRICE; ADJUSTMENTS; ALLOCATIONS	 17
	     Section 3.1	 Purchase Price	 17
	     Section 3.2	 Statement of Closing Date Indebtedness	 17
	     Section 3.3	 Payment of Purchase Price	 17
	     Section 3.4	 Working Capital Adjustment	 18
	     Section 3.5	 Holdback Period Adjustment	 19
	     Section 3.6	 Holdback Amount	 21
	     Section 3.7	 Conduct of the Purchased Business Until the Completion of the	  
	   	 Holdback Period	 23
	     Section 3.8	 Allocation of Purchase Price	 23
	     Section 3.9	 Cash Payments	 23
	     Section 3.10	 Parent Stock Payments	 23
	     Section 3.11	 Payment Instruction	 23
	 Article IV     REPRESENTATIONS AND WARRANTIES OF THE SELLER AND THE SHAREHOLDER PARTIES	24
	     Section 4.1	 Organization	 24
	     Section 4.2	 Authorization	 25
	     Section 4.3	 Absence of Restrictions and Conflicts	 25
	     Section 4.4	 Required Consents	 26
	     Section 4.5	 Real Property	 26

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(continued)

				
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	     Section 4.6	 Personal Property	 27
	     Section 4.7	 Sufficiency of and Title to Assets	 27
	     Section 4.8	 Inventory	 27
	     Section 4.9	 Accounts Receivable	 27
	     Section 4.10	 Financial Statements	 27
	     Section 4.11	 No Undisclosed Liabilities	 28
	     Section 4.12	 Absence of Certain Changes	 28
	     Section 4.13	 Legal Proceedings	 28
	     Section 4.14	 Compliance with Law	 28
	     Section 4.15	 Contracts	 29
	     Section 4.16	 Tax Returns; Taxes	 31
	     Section 4.17	 Officers, Employees and Independent Contractors	 32
	     Section 4.18	 Seller Benefit Plans	 33
	     Section 4.19	 Labour Relations	 34
	     Section 4.20	 Policies of Insurance	 34
	     Section 4.21	 Environmental, Health and Safety Matters	 34
	     Section 4.22	 Intellectual Property	 34
	     Section 4.23	 Affiliate Matters	 36
	     Section 4.24	 Customer and Supplier Relations	 36
	     Section 4.25	 Licenses	 37
	     Section 4.26	 Dealings with Governmental Entities	 37
	     Section 4.27	 Service Warranties	 38
	     Section 4.28	 Solvency	 38
	     Section 4.29	 Brokers, Finders and Investment Bankers	 38
	     Section 4.30	 Investment Representations	 38
	     Section 4.31	 Franchise	 39
	 Article V     REPRESENTATIONS AND WARRANTIES OF THE SHAREHOLDER PARTIES	39

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(continued)

				
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	     Section 5.1	 Authorization and Validity of Agreement	 39
	     Section 5.2	 Absence of Restrictions and Conflicts	 40
	     Section 5.3	 Legal Proceedings	 40
	     Section 5.4	 Excluded Affiliate Debt	 40
	     Section 5.5	 Tax Residence	 40
	 Article VI     REPRESENTATIONS AND WARRANTIES OF PURCHASER AND THE PARENT	40
	     Section 6.1	 Organization	 40
	     Section 6.2	 Authorization	 40
	     Section 6.3	 Absence of Restrictions and Conflicts	 41
	     Section 6.4	 Capitalization of the Parent	 41
	     Section 6.5	 Issuance of Shares	 41
	     Section 6.6	 Disclosure	 41
	     Section 6.7	 ExamWorks Financial Statements	 42
	     Section 6.8	 GST Number	 42
	     Section 6.9	 Brokers, Finders and Investment Bankers	 42
	     Section 6.10	 Legal Proceedings	 42
	     Section 6.11	 Parent Stockholders’ Agreement	 42
	 Article VII     CERTAIN COVENANTS AND AGREEMENTS	 43
	     Section 7.1	 Conduct of Business by the Seller	 43
	     Section 7.2	 Inspection and Access to Information	 45
	     Section 7.3	 Notices of Certain Events	 46
	     Section 7.4	 No Solicitation of Transactions	 46
	     Section 7.5	 Reasonable Efforts; Further Assurances; Cooperation	 46
	     Section 7.6	 Guarantee	 47
	     Section 7.7	 Public Announcements	 47
	     Section 7.8	 Employee Matters	 48
	     Section 7.9	 Transfer Taxes and Fees; Expenses	 50

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	     Section 7.10	 Insurance	 50
	     Section 7.11	 Confidentiality	 51
	     Section 7.12	 Non-Solicitation	 51
	     Section 7.13	 Name Change	 52
	     Section 7.14	 Customer and Employee Visits	 52
	     Section 7.15	 Accounts and Notes Receivable	 52
	     Section 7.16	 Risk of Loss; Casualty	 53
	     Section 7.17	 Release	 53
	     Section 7.18	 Dissolution of the Seller	 54
	     Section 7.19	 Terminated Contracts	 54
	     Section 7.20	 Preservation of Records and Books	 54
	     Section 7.21	 Election Pursuant to Excise Tax Act (Canada)	 55
	     Section 7.22	 Elections Pursuant to the ITA	 55
	     Section 7.23	 Issuance of Shares of Parent Stock	 55
	 Article VIII     NON-COMPETITION	 55
	     Section 8.1	 Noncompetition	 55
	     Section 8.2	 Severability	 56
	     Section 8.3	 Injunctive Relief	 57
	 Article IX     CONDITIONS TO CLOSING	 57
	     Section 9.1	 Conditions to Obligations of the Purchaser	 57
	     Section 9.2	 Conditions to Obligations of the Seller and the Shareholder	  
	  	  	 Parties	 59
	 Article X     CLOSING 	 59
	     Section 10.1	 Closing	 59
	     Section 10.2	 Seller Closing Deliveries	 60
	     Section 10.3	 Purchaser and Parent Closing Deliveries	 61
	 Article XI     TERMINATION	 61
	     Section 11.1	 Termination	 61

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	     Section 11.2	 Specific Performance	 62
	     Section 11.3	 Effect of Termination	 62
	 Article XII     INDEMNIFICATION	 62
	     Section 12.1	 Indemnification Obligations of the Seller and the Shareholder	  
	   	 Parties	 62
	     Section 12.2	 Indemnification Obligations of the Purchaser and the Parent	 63
	     Section 12.3	 Indemnification Procedure	 64
	     Section 12.4	 Survival Period	 66
	     Section 12.5	 Liability Limits	 66
	     Section 12.6	 Earnings Multiple	 67
	     Section 12.7	 Set-Off	 67
	     Section 12.8	 Exclusive Remedy	 67
	     Section 12.9	 One Recovery	 67
	     Section 12.10	 Insurance and Tax Recoveries	 67
	     Section 12.11	 Adjustment to Purchase Price	 67
	 Article XIII     MISCELLANEOUS PROVISIONS	 68
	     Section 13.1	 Notices	 68
	     Section 13.2	 Schedules and Exhibits	 69
	     Section 13.3	 Assignment; Successors in Interest	 69
	     Section 13.4	 Captions	 69
	     Section 13.5	 Controlling Law	 69
	     Section 13.6	 Severability	 70
	     Section 13.7	 Counterparts	 70
	     Section 13.8	 Enforcement of Certain Rights	 70
	     Section 13.9	 Waiver; Amendment	 70
	     Section 13.10	 Entire Agreement	 70
	     Section 13.11	 Compliance with Bulk Sales Laws	 71
	     Section 13.12	 Interpretation	 71

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	      Section 13.13	 Cooperation Following the Closing	 71
	      Section 13.14	 Transaction Costs	 71

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 ASSET PURCHASE AGREEMENT

      THIS ASSET PURCHASE AGREEMENT, dated as of June 30, 2010, is made and entered into by and among SOMA MEDICAL ASSESSMENTS CORP., a corporation incorporated under the laws of the Province of Ontario (the “Purchaser”), EXAMWORKS GROUP, INC., a Delaware corporation and the ultimate parent of the Purchaser (the “Parent”), SOMA MEDICAL ASSESSMENTS INC., a corporation incorporated under the laws of the Province of Ontario (the “Seller”), 1495929 Ontario Inc., a corporation incorporated under the laws of the Province of Ontario and the sole shareholder of the Seller (the “Shareholder”), and Troy Cumiskey, the sole shareholder of the Shareholder (the “Founder”).

 RECITALS

      WHEREAS, upon and subject to the terms and conditions set forth herein, the Seller proposes to sell to the Purchaser, and the Purchaser proposes to purchase from the Seller, substantially all of the assets used or held for use by the Seller in the conduct of its business, and the Purchaser proposes to assume certain of the liabilities and obligations of the Seller as set forth herein;

      WHEREAS, the Seller and the Shareholder Parties propose to enter into various restrictive covenants in respect of the Business following the purchase by the Purchaser, including a covenant not to compete with the Business;

      WHEREAS, it is in the interests of the Shareholder Parties that the Seller enter into the transactions contemplated herein with the Purchaser;

      WHEREAS, the Shareholder Parties acknowledge that the Seller’s assumption of the obligations provided for in this Agreement is an inducement to the Purchaser to enter into this Agreement;

      WHEREAS, the Parent has agreed to guarantee the performance of the obligations of the Purchaser under this Agreement;

      NOW, THEREFORE, in consideration of the respective representations, warranties, covenants, agreements and conditions set forth herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, each Party hereby agrees as follows:

 ARTICLE I

DEFINITIONS

      Section 1.1 Certain Definitions. The following terms, as used herein, have the meanings set forth below:

      “2009 Financial Statements” means the compiled balance sheet of the Seller as of February 28, 2010, and the compiled statement of operations and retained earnings of the Seller for the twelve (12) months then ended.

 CONFIDENTIAL

      “Accounting Referee” means one of the following accounting firms, as chosen by the Purchaser (provided such firm is and continues to be at the relevant time independent from the Purchaser): Deloitte LLP, Ernst & Young LLP, PricewaterhouseCoopers LLP, Grant Thornton LLP, RSM Richter or BDO Dunwoody LLP.

      “Acquisition Transaction” has the meaning set forth in Section 7.4.

      “Additional Financial Statements” means (a) the compiled balance sheet of the Seller as of July 31, 2009, and the compiled statement of operations and retained earnings of the Seller for the twelve (12) months then ended; and (b) the internal balance sheet of the Seller as of April 30, 2010, and the internal statement of operations and retained earnings of the Seller for the nine (9) months then ended.

      “Administrative Agent” means Fifth Third Bank, an Ohio banking corporation, in its capacity as administrative agent to the Loan Agreement.

      “Affiliate” of any specified Person means any other Person that, directly or indirectly through one or more intermediaries, Controls or is Controlled by, or is under common Control with, such specified Person.

      “Affiliate Loan” has the meaning set forth in Section 7.15(a).

      “Agreement” means this Asset Purchase Agreement, as may be amended, supplemented or modified from time to time.

      “Allocation Schedule” has the meaning set forth in Section 3.8.

      “Assets” has the meaning set forth in Section 2.1.

      “Assignment and Assumption Agreement” has the meaning set forth in Section 10.2(c).

      “Assumed Contracts” has the meaning set forth in Section 2.1(d).

      “Assumed Liabilities” has the meaning set forth in Section 2.3(b).

      “Bill of Sale” has the meaning set forth in Section 10.2(b).

      “Business” means the Seller’s business of arranging and facilitating medical assessments (including, without limitation, multidisciplinary assessments, functional abilities evaluations, independent medical examinations, job site and in home assessments, vocational and psycho-vocational assessments, radiology reviews, nerve conduction studies, medical file reviews and treatment reviews), occupation therapy assessments (including, without limitation, attendant care needs assessments, assistive devices services and occupational therapy/kinesiology intervention), and related services (including, without limitation, physical examinations, peer review and other review of medical records, appearing and testifying as expert witness in legal proceedings, assisting in legal discovery, medical testing services, medical seminars and other medical consulting services) for insurance companies, attorneys and other third parties to examine,

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 CONFIDENTIAL

 validate, independently review and evaluate, as the case may be, workers compensation, liability, personal injury, disability and other medical claims, billing and pricing matters.

      “Business Day” means any day except Saturday, Sunday or any day on which banks are generally not open for business in the City of Toronto, Ontario.

      “Casualty” has the meaning set forth in Section 7.16.

      “Closing” has the meaning set forth in Section 10.1.

      “Closing Date” means the date on which the Closing occurs.

      “Closing Date Indebtedness” means any indebtedness of the Seller with respect to (a) borrowed money (other than the Excluded Affiliate Debt), (b) notes payable (other than the Excluded Affiliate Debt), (c) capital leases, (d) Severance Costs, and (e) installment sale Contracts or other Contracts relating to the deferred and unpaid purchase price of property or services, including any interest accrued thereon and prepayment or similar penalties and expenses, as of the Closing Date; provided, that Closing Date Indebtedness shall not include any Assumed Liabilities included in the calculation of Net Working Capital and set forth in the Final Working Capital Schedule.

      “Closing Date Indebtedness Statement” has the meaning set forth in Section 3.2.

      “College” means the college of a health profession or group of health professions established or continued under an Act named in Schedule 1 of the Regulated Health Professions Act, 1991, S.O. 1991, c. 18, including for certainty the Medicine Act, 1991.

      “Confidential Information”
means any data or information concerning the Seller, the Business (including
trade secrets) or the Purchaser, without regard to form, regarding (for example
and including) (a) business process models; (b) proprietary software; (c)
research, development, products, services, marketing, selling, business plans,
budgets, unpublished financial statements, licenses, prices, costs, Contracts,
suppliers, customers, and customer lists; (d) the identity, skills and
compensation of employees, contractors, and consultants; (e) specialized
training; (f) the fact that the Seller is an acquisition target or the Purchaser
is the purchaser or any information regarding this Agreement or the transactions
contemplated hereby; (g) discoveries, developments, trade secrets, processes,
formulas, data, lists, and all other works of authorship, mask works, ideas,
concepts, know-how, designs, and techniques, whether or not any of the foregoing
is or are patentable, copyrightable, or registrable under any intellectual
property Laws or industrial property Laws. Notwithstanding the foregoing, no
data or information constitutes “Confidential Information” if such
data or information is or becomes known and in the public domain through means
that do not involve a breach by the Seller or a Shareholder Party of any
covenant or obligation set forth in this Agreement.

      “Contract” means any
contract, sub-contract, agreement, Lease, license, commitment, sale and purchase
order, note, loan agreement or any other arrangement or understanding of any
kind, whether written or oral, and whether express or implied.

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 CONFIDENTIAL

      “Control” means, when used with respect to any specified Person, the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by Contract or otherwise.

      “Current Assets” means (a) Receivables, (b) security deposits, (c) cash, cash equivalents and marketable securities in the amount of $50,000, and (d) income taxes recoverable.

      “Customer” means a customer of the Seller that paid the Seller (a) at least $50,000 in the aggregate during the twelve (12) months ended February 28, 2010 or (b) more than $12,500 in the aggregate during the three (3) months ended May 31, 2010.

      “Customer Overpayments” means customer overpayments, double payments, or erroneous payments on account of services already performed, or deposits, advanced payments or prepayments for services or work which has not been performed as of the Closing or is reasonably not expected to be performed by the Business following the Closing, to the extent such liabilities are not reflected in the income statements of the Seller for the period in which such overpayment, double payment, erroneous payment or deposit was received by the Seller and are not set out in the Final Working Capital Schedule.

      “Direct Claim” has the meaning set forth in Section 12.3(c).

      “Disclosure Schedules” has the meaning set forth in Article IV.

      “EBITDA” means earnings before interest, taxes, depreciation and amortization.

      “EBITDA Shortfall” means the amount by which Holdback Period EBITDA is less than $[CONFIDENTIAL MATERIAL REDACTED AND FILED SEPARATELY WITH THE COMMISSION].

      “Employee Benefit Plan”
means, with respect to any Person, each plan, fund, program, agreement,
arrangement or scheme, including each plan, fund, program, agreement,
arrangement or scheme maintained or required to be maintained under applicable
Laws, that is at any time sponsored or maintained or required to be sponsored or
maintained by such Person or to which such Person makes or has made, or has or
has had an obligation to make, contributions providing benefits to the current
and former employees, directors, officers, consultants, independent contractors,
contingent workers or leased employees of such Person or the dependents of any
of them (whether written or oral), or with respect to which such Person has any
liability or obligation, including (a) each deferred compensation, bonus,
incentive compensation, pension, retirement, employee stock ownership, stock
purchase, stock option, profit sharing or deferred profit sharing, stock
appreciation, phantom stock plan and other equity compensation plan, welfare
plan, (b) each retirement, pension or supplemental pension plan, (c) each
severance plan or agreement, and each other plan providing health, vacation,
supplemental unemployment benefit, hospitalization insurance, medical, dental,
disability, life insurance, death or survivor benefits, fringe benefits or legal
benefits, and (d) each other employee benefit plan, fund, program, agreement or
arrangement.

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 CONFIDENTIAL

      “Employment Agreement” means any employment contract, consulting agreement, termination or severance agreement, salary continuation agreement, change of control agreement or any other Contract, including offers for any of the above, respecting the terms and conditions of employment or payment of compensation in respect to any current or former director, officer or employee of the Seller, other than Medical Consulting Agreements.

      “Environmental Laws” means all Laws relating to pollution, Hazardous Materials or protection of health, safety or the environment.

      “ExamWorks Financial Statements” means (a) the audited consolidated balance sheet of ExamWorks US as of December 31, 2009, and the audited statement of operations and cash flows of ExamWorks US for the year then ended, and (b) the unaudited consolidated balance sheet of ExamWorks US as of March 31, 2010, and the unaudited consolidated statement of operations and cash flows of ExamWorks US for the calendar quarter then ended.

      “ExamWorks US” means ExamWorks, Inc., a Delaware corporation and a wholly-owned subsidiary of the Parent.

      “Excess EBITDA” means the amount by which Holdback Period EBITDA is greater than $[CONFIDENTIAL MATERIAL REDACTED AND FILED SEPARATELY WITH THE COMMISSION].

      “Excluded Affiliate Debt” means indebtedness owed to or due from a Shareholder Party, or any Affiliate of the Seller or a Shareholder Party, by or to the Seller other than Leases.

      “Excluded Assets” has the meaning set forth in Section 2.2.

      “Expiration Date” has the meaning set forth in Section 11.1(f).

      “Final Holdback Adjustment Schedule” means the Holdback Adjustment Schedule, as finally determined pursuant to Section 3.5.

      “Final Working Capital Schedule” means the Working Capital Schedule, as finally determined pursuant to Section 3.4.

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

      “Founder Employment Agreement” has the meaning set forth in Section 9.1(n).

      “GAAP” means generally accepted accounting principles as applied in Canada, including those principles stated in the Handbook of the Canadian Institute of Chartered Accountants.

      “Governmental Entity” means any domestic or foreign government, whether, federal, provincial, state, regional, local or municipal, any College and any governmental agency, governmental authority, court, governmental tribunal or governmental tribunal of any kind whatsoever.

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      “Government Health Care Programs” means any healthcare payment program operated by a federal or provincial government of Canada and includes any entity that contracts with a Canadian Governmental Entity to administer or assist in the administration of a government program.

      “Harmonized Sales Tax” means the harmonized sales tax imposed under Part IX of the Excise Tax Act (Canada).

      “Hazardous Materials” means any pollutant, contaminant, chemical or substance, any toxic, infectious, carcinogenic, reactive, corrosive, ignitable or flammable chemical or chemical compound, and any hazardous substance, material or waste, whether solid, liquid or gas, that is subject to regulation, control or remediation under any Environmental Laws, including any quantity of medical waste, asbestos, urea formaldehyde, polychlorinated biphenyls, radon gas, crude oil or any fraction thereof, all forms of natural gas, petroleum products or by-products or derivatives.

      “Holdback Adjustment Schedule” means a statement of the Holdback Period Revenue and Holdback Period EBITDA, together with a calculation of any Holdback Period Deficit or Holdback Period Surplus.

      “Holdback Amount” has the meaning set forth in Section 3.3(b).

      “Holdback Cash” has the meaning set forth in Section 3.6(b).

      “Holdback Period” means the period from October 1, 2010 through September 30, 2012.

      “Holdback Period EBITDA” means the EBITDA of the Purchased Business for the Holdback Period, it being understood that any unusual and infrequent expenses shall be added back to calculate such EBITDA to the extent such expenses impact earnings; provided, for greater certainty, that such unusual and infrequent expenses added back to calculate such EBITDA shall include, without limitation, any expenses of head office of Parent or of any affiliated entity of Parent (other than the Purchaser or other entity containing the Purchased Business) allocated to the Purchased Business.

      “Holdback Period Deficit” means, (a) in the event there is a Revenue Shortfall but no EBITDA Shortfall, an amount equal to [CONFIDENTIAL MATERIAL REDACTED AND FILED SEPARATELY WITH THE COMMISSION] percent ([CONFIDENTIAL MATERIAL REDACTED AND FILED SEPARATELY WITH THE COMMISSION]%) of such Revenue Shortfall, multiplied by 4.75, (b) in the event there is an EBITDA Shortfall but no Revenue Shortfall, an amount equal to such EBITDA Shortfall, multiplied by 4.75, or (c) in the event both a Revenue Shortfall and an EBITDA Shortfall exist, an amount equal to the EBITDA Shortfall, multiplied by 4.75.

      “Holdback Period Revenue” means the revenues of the Purchased Business for the Holdback Period.

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      “Holdback Period Surplus” means an amount equal to [CONFIDENTIAL MATERIAL REDACTED AND FILED SEPARATELY WITH THE COMMISSION] percent ([CONFIDENTIAL MATERIAL REDACTED AND FILED SEPARATELY WITH THE COMMISSION]%) of Excess EBITDA, up to a maximum of $[CONFIDENTIAL MATERIAL REDACTED AND FILED SEPARATELY WITH THE COMMISSION]; provided that in no event shall a Holdback Period Surplus exist unless the Holdback Period Revenue is greater than $[CONFIDENTIAL MATERIAL REDACTED AND FILED SEPARATELY WITH THE COMMISSION].

      “Holdback Shares” has the meaning set forth in Section 3.3(b).

      “Indemnified Party” means a Purchaser Indemnified Party or a Seller Indemnified Party.

      “Indemnifying Party” has the meaning set forth in Section 12.3(a).

      “Intellectual Property” means
any or all of the following and all rights, arising out of or associated
therewith: (a) all patents and applications therefor and all reissues,
divisions, renewals, extensions, provisionals, continuations and
continuations-in-part thereof; (b) all inventions (whether patentable or not),
invention disclosures, improvements, proprietary information, know-how,
technology, technical data and customer lists, and all documentation relating to
any of the foregoing; (c) all copyrights, copyright registrations and
applications therefor, and all other rights corresponding thereto; (d) all
industrial designs and any registrations and applications therefor; (e) all
internet uniform resource locators, domain names, trade names, logos, slogans,
designs, common law trademarks and service marks, trademark and service mark
registrations and applications therefor and all goodwill associated therewith;
(f) all Software, databases and data collections and all rights therein; (g) all
moral and economic rights of authors and inventors, however denominated; and (h)
any similar or equivalent rights to any of the foregoing.

      “Joinder” has the meaning set forth in Section 9.1(p).

      “Knowledge” means, with respect to any individual, all facts known or that reasonably should have been known by such individual, and with respect to the Seller, all facts known or that reasonably should have been known by the Shareholder Parties and Tracey Glionna, in each case on the date hereof or on the Closing Date, as applicable, following reasonable inquiry and diligence with respect to the matters at hand.

      “Labour Laws” means all applicable Laws governing or concerning labour relations, collective bargaining, conditions of employment, employee classification, employment discrimination and harassment, wages, hours or occupational safety and health, including the Labour Relations Act, 1995 (Ontario), the Human Rights Code (Ontario), the Occupational Health and Safety Act (Ontario), the Pay Equity Act (Ontario), the Employment Standards Act, 2000 (Ontario), the Workplace Safety and Insurance Act, 1997 (Ontario) or predecessor to that Act and the Employment Insurance Act (Canada), and similar laws of other Provinces of Canada.

      “Laws” means all applicable laws, statutes, common law, rules, codes, regulations, restrictions, ordinances, codes, directives, guidelines, orders, decrees, approvals, directives, judgments, rulings, injunctions, writs and awards of, or issued or entered by, all Governmental Entities.

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      “Leased Real Property” means the parcels of real property of which the Seller is the lessee or sublessee (together with all fixtures and improvements thereon).

      “Leases” means, collectively, all leases, subleases, offers to lease, licenses, or other occupancy agreements in respect of any real property or premises in any building of any kind whatsoever, under which any of the Seller and/or any Shareholder Party is bound in respect of the Business, as modified, extended, renewed or amended from time to time.

      “Lenders” means the lenders party to the Loan Agreement from time to time.

      “Licenses” means all notifications, licenses, permits, franchises, certificates, approvals, exemptions, classifications, registrations and other similar documents and authorizations issued by any Governmental Entity, and applications therefor, including, without limitation, workers’ compensation, independent medical examination, independent review organization, and utilization review licenses, registrations and permits.

      “Liens” means all mortgages, liens, pledges, security interests, charges, claims, restrictions and encumbrances of any nature whatsoever.

      “Loan Agreement” means that certain Loan and Security Agreement dated as of December 18, 2009, as the same may be amended, restated, supplemented or modified, by and among ExamWorks US, its subsidiaries, Parent, the Administrative Agent, and the lenders party thereto.

      “Losses” means any and all claims, liabilities, obligations, damages, losses, costs, diminution of value, expenses, penalties, fines and judgments (including reasonable amounts paid in settlement, costs of investigation and reasonable attorney’s fees and expenses), whenever arising or incurred, and whether arising out of a Third Party Claim, subject to Section 12.10 (Insurance and Tax Recoveries).

      “Material Adverse Effect”
means any state of facts, change, event, effect or occurrence (when taken
together with all other states of facts, changes, events, effects or
occurrences) that has, has had or is reasonably likely to have a materially
adverse effect on the financial condition, Business, results of operations,
properties, assets or liabilities (including contingent liabilities) of the
Seller or the Assets, including, limitation, (a) any cancellation of, or
threatened cancellation of, the Seller’s relationships with any Customer to
the extent not disclosed on Schedule 4.24, (b) any change in Laws
affecting the Seller or the Business of the Seller or any part thereof, (c) the
bankruptcy or insolvency of the Seller, or (d) a material change in the
composition of the panel of physicians used by the Seller as of the date of the
Agreement to conduct the Business. A Material Adverse Effect shall also include
any state of facts, change, event or occurrence that shall have occurred or been
threatened that (when taken together with all other states of facts, changes,
events, effects or occurrences that have occurred or been threatened) has
prevented or materially delayed, or would be reasonably likely to prevent or
materially delay, the performance by the Seller or a Shareholder Party of its or
his obligations hereunder or the consummation of

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 CONFIDENTIAL

 the transactions contemplated hereby. Notwithstanding the foregoing, a Material Adverse Effect shall not include any fact, change, event, effect or occurrence, directly or indirectly, resulting from or relating to SABS, or to the impact or potential impact of the Harmonized Sales Tax.

      “Medical Consulting Agreements” means Contracts, including any fee schedules, with physicians or medical personnel for the provision of services related to the Business (or which the Seller arranges or facilitates as part of the Business) on an independent contractor basis.

      “Net Working Capital” means Working Capital as of the close of business on the Closing Date.

      “New Shares” has the meaning set forth in Section 3.6(f).

      “Noncompete Period” means the period beginning on the Closing Date and continuing for a period of five (5) years after the Closing Date.

      “Notice of Claim” has the meaning set forth in Section 12.3(c).

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

      “Parent Stock” means the common stock of the Parent, $.0001 par value per share.

      “Parent Stockholders’ Agreement” has the meaning set forth in Section 6.11.

      “Parent Stock Value” means $42.28.

      “Party” means, individually, the Parent, the Purchaser, the Seller, the Shareholder and/or the Founder.

      “Parties” means, collectively, the Parent, the Purchaser, the Seller, the Shareholder and the Founder.

      “Payoff Letter” has the meaning set forth in Section 9.1(g).

      “Permitted Liens” means (a) Liens for Taxes not yet due and payable, (b) Liens of carriers, warehousemen, mechanics, materialmen and repairmen incurred in the ordinary course of business consistent with past practices and not yet delinquent, (c) in the case of the Leased Real Property, zoning, building, or other restrictions, variances, covenants, rights of way, encumbrances, easements and other minor irregularities in title, none of which, individually or in the aggregate, (i) interfere in any material respect with the present use of or occupancy of the affected parcel by the Seller, or (ii) have more than an immaterial effect on the value thereof or its use in connection with the Business and (d) Liens set out in Schedule 1.1.

      “Person” means any individual, corporation, partnership (including limited partnerships), joint venture, limited liability company, trust, Governmental Entity, or other organization.

      “PPM” has the meaning set forth in Section 6.6.

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      “Practice of Medicine” means a physician’s practice of medicine in connection with, or any ownership interest of any kind in a business, clinic or any facility engaged in, the treatment of patients, (including, without limitation, a treatment clinic, or a physician’s physiotherapy or chiropractic practice), but not in connection with independent medical examinations and related services, or any other services performed, arranged or facilitated by the Seller as of the Closing Date (except for any such examinations or related services or other services provided to or on behalf of the Parent or any of its Affiliates).

      “Purchase Price” has the meaning set forth in Section 3.1.

      “Purchased Business” means the division of the Purchaser which holds the Assets and Assumed Liabilities following the Closing.

      “Purchaser’s Plans” has the meaning set forth in Section 7.8(a)(iii).

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

      “Purchaser Ancillary Documents” means any certificate, agreement, document or other instrument, other than this Agreement, to be executed and delivered by a Purchaser Party in connection with the transactions contemplated hereby.

      “Purchaser Basket” has the meaning set forth in Section 12.5.

      “Purchaser Cap” has the meaning set forth in Section 12.5.

      “Purchaser Deductible” has the meaning set forth in Section 12.5.

      “Purchaser Indemnified Parties” means the Purchaser Parties and their Affiliates, their respective officers, directors, members, managers, employees, agents and representatives, and the heirs, executors, successors and assigns of any of the foregoing.

      “Purchaser Losses” has the meaning set forth in Section 12.1.

      “Purchaser Note” has the meaning set forth in Section 3.3(b).

      “Purchaser Party” means, individually, the Purchaser or the Parent.

      “Purchaser Parties” means, collectively, the Purchaser and the Parent.

      “Receivables” means the Seller’s accounts receivable, notes receivable (other than Excluded Affiliate Debt) and other receivables, less the sum of the allowance for doubtful accounts and unapplied payments, each as of the close of business on the Closing Date.

      “Release Date” has the meaning set forth in Section 3.5(e).

      “Reference Balance Sheet” means the compiled balance sheet of the Seller as of February 28, 2010.

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      “Registered Intellectual Property” means all: (a) patents and patent applications (including provisional applications); (b) registered trademarks and service marks, applications to register trademarks and service marks, intent-to-use applications, or other registrations or applications related to trademarks and service marks; (c) registered copyrights and applications for copyright registration; (d) domain name registrations; and (e) any other Intellectual Property that is the subject of an application, certificate, filing, registration or other document issued, filed with, or recorded with or by any Governmental Entity.

      “Revenue Shortfall” means the amount by which the Holdback Period Revenue is less than $[CONFIDENTIAL MATERIAL REDACTED AND FILED SEPARATELY WITH THE COMMISSION].

      “Required Consent” has the meaning set forth in Section 4.4.

      “SABS” means Ontario Regulation 34/10 (Statutory Accident Benefits Schedule —Effective September 1, 2010) or any subsequent amendment, change, restatement, supplement or modification to the Statutory Accidents Benefits Schedule under the Insurance Act (Ontario).

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

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

      “Seller Ancillary Documents” means any certificate, agreement, document or other instrument, other than this Agreement, to be executed and delivered by the Seller or a Shareholder Party in connection with the transactions contemplated hereby.

      “Seller Benefit Plan” means each Employee Benefit Plan sponsored or maintained or required to be sponsored or maintained at any time by the Seller or to which the Seller makes or has made, or has or has had an obligation to make, contributions at any time or with respect to which the Seller has any liability or obligation.

      “Seller Indemnified Parties” means the Seller and its Affiliates, the Shareholder Parties, and their respective officers, directors, managers, members, shareholders, employees, agents and representatives and the heirs, executors, successors and assigns of any of the foregoing.

      “Seller Intellectual Property” means any Intellectual Property that is owned by, licensed to or used by the Seller in the conduct of the Business.

      “Seller Licensed Software” means all Software that is used in the conduct of the Business (including off-the-shelf software) other than Seller Proprietary Software.

      “Seller Losses” has the meaning set forth in Section 12.2.

      “Seller Proprietary Software” means all Software owned by the Seller.

      “Seller Registered Intellectual Property” means all of the Registered Intellectual Property owned by or filed in the name of the Seller.

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      “Severance Costs” means, severance, termination, pay in lieu of notice and other costs and related benefits to which any employee is entitled for any reason as a result of the termination of their employment with the Seller as of the Closing, and to which any employee who is not a Transferred Employee is entitled before, on or after the Closing, including, without limitation, vacation pay, accrued salary, wages, commissions and bonuses (and applicable withholding taxes).

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

      “Shareholder Party” means, individually, the Shareholder or the Founder.

      “Shareholder Parties” means, collectively, the Shareholder and the Founder.

      “Software” means any computer software program, together with any error corrections, updates, modifications, or enhancements thereto, in both machine-readable form and human-readable form, including all comments and any procedural code.

      “Specifically Excluded Liabilities” has the meaning set forth in Section 2.4.

      “Stockholders’ Agreement” means that certain Stockholders’ Agreement of the Parent, dated as of July 14, 2008, among the Parent and each of its stockholders, as the same may be amended, restated, supplemented or modified.

      “Subordination Agreement” has the meaning set forth in Section 9.1(m).

      “Supplier” means any supplier of goods or services to which the Seller paid more than $50,000 in the aggregate during the twelve (12) months ended February 28, 2010 or $12,500 during the three (3) months ended May 31, 2010. Suppliers include non-employee physicians and other medical personnel who perform services for the Seller’s Business.

      “Surviving Representations” has the meaning set forth in Section 12.4.

      “Target Net Working Capital” means an amount equal to $1,717,224. The calculation of the Target Net Working Capital is set forth on Exhibit 1.1.

      “Taxes” means all taxes (whether current or deferred), assessments, charges, duties, rates, fees, imposts, levies and other charges of a Governmental Entity, including income, franchise, capital, real property, personal property, tangible, withholding, employment, employer health, payroll, social security, social contribution, unemployment compensation, disability, transfer, sales, use, excise, customs duties, goods and services, consumption, gross receipts, stamp, countervail, value-added and all other taxes of any kind imposed by any Governmental Entity, whether disputed or not, and any related charges, interest or penalties imposed by any Governmental Entity and all Canada Pension Plan contributions and employment insurance premiums or similar contributions/premiums required in any foreign jurisdictions.

      “Tax Return” means any tax or information return, report, declaration or other information, in whatever form or medium, required to be supplied to a Governmental Entity in

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 connection with Taxes, including estimated returns and reports of every kind with respect to Taxes.

      “Termination Date” means the date prior to the Closing on which this Agreement is terminated in accordance with Article XI.

      “Territory” means the country of Canada.

      “Third-Party Claim” has the meaning set forth in Section 12.3(a).

      “Transferred Employee” has the meaning set forth in Section 7.8(a)(i).

      “Transferred Shares” has the meaning set forth in Section 3.3(b)(ii).

      “U.S. GAAP” means generally accepted accounting principles in the United States consistently applied.

      “Working Capital” means, as of a certain date, Current Assets included in the Assets, less accounts payable and accrued expenses of a type operating in nature, in each case of a type and category reflected on Exhibit 1.1.

      “Working Capital Deficit” means the amount by which the Net Working Capital is less than the Target Net Working Capital.

      “Working Capital Schedule” means a statement of Net Working Capital, as calculated in accordance with GAAP using the accrual method of accounting consistently applied.

      “Working Capital Surplus” means the amount by which the Net Working Capital is greater than the Target Net Working Capital.

      Section 1.2 Other Definitions. The terms “Dollars” and “$” shall mean Canadian dollars, unless otherwise expressly provided herein.

 ARTICLE II

PURCHASE AND SALE

      Section 2.1 Agreement to Purchase and Sell. Subject to the terms and conditions hereof, at the Closing, the Seller shall sell, assign, transfer and deliver to the Purchaser, and the Purchaser shall purchase, assume, acquire and accept from the Seller, all right, title and interest of the Seller in and to, except for the Excluded Assets, all of its assets, properties and rights of every kind, nature, character and description, whether real, personal or mixed, whether tangible or intangible, and wherever situated, in existence on the date hereof and any additions thereto on or before the Closing Date (such assets, properties and rights being referred to as the “Assets”), free and clear of all Liens other than Permitted Liens. The Assets shall include, without limitation, the Seller’s right, title and interest in and to the following assets, properties and rights:

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        (a) cash, cash equivalents and marketable securities in the amount of $50,000 at Closing, which shall be transferred to the Purchaser at the Closing;

        (b) deposits (including security deposits), advances (including employee advances), pre-paid expenses and credits (including pre-paid independent medical examinations);

        (c) fixed assets, vehicles, equipment, machinery, tools, furnishings, computer hardware and fixtures;

        (d) the Contracts set forth on Exhibit 2.1(d) (the “Assumed Contracts”);

        (e) the Seller Intellectual Property, including, without limitation, the “SOMA” and “SOMA Medical Assessments” names and all Intellectual Property rights associated therewith, and internet domain names and registrations;

        (f) phone numbers used in the Business;

        (g) the Receivables, the proceeds thereof and any security therefor;

        (h) causes of action, lawsuits, judgments, claims and demands of any nature, whether arising by way of counterclaim or otherwise, other than any claims for Tax refunds;

        (i) all express or implied guarantees, warranties, representations, covenants, indemnities and similar rights;

        (j) goodwill;

        (k) all Licenses, including those set forth on Schedule 4.25;

        (l) insurance proceeds and insurance awards receivable with respect to any of the Assets which arise from or relate to events occurring prior to or on the Closing Date; and

        (m) information, files, correspondence, records, data, plans, reports, and recorded knowledge, including customer, supplier, physician, price and mailing lists, and all accounting or other books and records of the Seller in whatever media retained or stored, including computer programs and disks.

      Section 2.2 Excluded Assets. Notwithstanding anything to the contrary set forth herein, the Assets shall not include the following assets, properties and rights of the Seller (collectively, the “Excluded Assets”):

        (a) ownership and other rights with respect to the Seller Benefit Plans;

        (b) the constating documents, minute books, and share certificates and registers of the Seller;

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        (c) the Employment Agreements;

        (d) the Excluded Affiliate Debt;

        (e) the rights that accrue to the Seller hereunder;

        (f) policies of insurance (and any cash or surrender value thereon);

        (g) all personal artwork of the Shareholder described on Exhibit 2.2(g) located at the premises of the Business;

        (h) refunds or other entitlements with respect to Taxes to the period to and including the Closing;

        (i) cash, cash equivalents and marketable securities in excess of $50,000 (but, for greater certainty, Excluded Assets shall not include deposits as set out in Section 2.1(b) and any cash received on the payment of accounts receivable in accordance with Section 7.15(b));

        (j) all bank accounts of the Seller; and

        (k) the safe located at the premises of the Seller.

      Section 2.3 Assumption of Assumed Liabilities.

        (a) Except as provided in Section 2.3(b) and notwithstanding anything to the contrary contained herein, the Purchaser shall not assume, in connection with the transactions contemplated hereby, any liability or obligation of the Seller whatsoever, whether known or unknown, disclosed or undisclosed, accrued or hereafter arising, absolute or contingent, and the Seller shall retain responsibility for all such liabilities and obligations.

        (b) Effective as of the Closing, the Purchaser shall assume the following liabilities and obligations of the Seller (collectively, the “Assumed Liabilities”):

  
          (i) the obligations of the Seller under each Assumed Contract, except to the extent such obligations are required to be performed on or prior to the Closing Date, are not disclosed on the face of such Assumed Contract (except for any ordinary course operating and procedural changes), or accrue and relate to the operation of the Seller’s business prior to the Closing Date;

          (ii) the current liabilities of the Seller included in the Final Working Capital Schedule;

          (iii) trade accounts payable;

  

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          (iv) liabilities relating to any Transferred Employee in respect of the period after the Closing Date, to the extent arising out of or related to such Transferred Employee’s employment with Purchaser after the Closing Date.

  

      Section 2.4 Specifically Excluded Liabilities. Specifically, and without in any way limiting the generality of Section 2.3(a), the Assumed Liabilities shall not include, and in no event shall the Purchaser assume, agree to pay, discharge or satisfy any liability or obligation hereunder or otherwise have any responsibility for any liability or obligation of the Seller (together with all other liabilities that are not Assumed Liabilities, the “Specifically Excluded Liabilities”):

        (a) relating to any liability or obligation (including accounts payable) of or owed to a Shareholder Party or any Affiliate of the Seller or a Shareholder Party;

        (b) for any Taxes with respect to any period ending on or before the Closing Date;

        (c) for any Closing Date Indebtedness;

        (d) relating to guarantees of any indebtedness of any Person;

      (e) relating to, resulting from, or arising
out of, (i) claims made in pending or future suits, actions, investigations or
other legal, governmental or administrative proceedings or (ii) claims based on
violations of or liability at Law (including any Environmental Law, privacy laws
(other than in respect of the transfer, under this Agreement, of records
containing information without providing notice and/or obtaining consent),
workers’ compensation, employment practices or health and safety matters),
breach of Contract, or any other actual or alleged failure of the Seller to
perform any obligation (under any Law (other than Laws relating to privacy in
respect of the transfer, under this Agreement, of records containing information
without providing notice and/or obtaining consent), License or Contract), in
each case arising out of, or relating to, (v) acts or omissions that shall have
occurred, (w) services performed or sold, (x) the ownership or use of the
Assets, (y) conditions that existed at the Closing, or (z) the operation of the
Seller’s business, prior to the Closing;

        (f) pertaining to any Excluded Asset;

        (g) relating to, resulting from, or arising out of, any former operation of the Seller that has been discontinued or disposed of prior to the Closing;

        (h) under or relating to any Seller Benefit Plan including any obligation or liability to make any payment or payments to any Person as a result of the transactions contemplated hereby, whether or not such liability or obligation arises prior to, on or following the Closing Date, and

        (i) arising or incurred in connection with the negotiation, preparation and execution hereof and the transactions contemplated hereby and any fees and expenses of

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   counsel, accountants, brokers, financial advisors or other experts of the Seller, except as provided in Section 13.14.

 The Specifically Excluded Liabilities shall include all claims, actions, litigation and proceedings relating to any or all of the foregoing and all costs and expenses in connection therewith.

 ARTICLE III 

  PURCHASE PRICE; ADJUSTMENTS; ALLOCATIONS

      Section 3.1 Purchase Price. Subject to adjustment pursuant to Section 3.4, Section 3.5 and Section 12.11 hereto, the aggregate amount to be paid for the Assets (the “Purchase Price”) shall be $17,465,114. In addition to the foregoing payment, as consideration for the sale, assignment, transfer and delivery of the Assets, the Purchaser shall assume and discharge the Assumed Liabilities.

      Section 3.2 Statement of Closing Date Indebtedness. Not less than two (2) Business Days prior to the Closing Date, the Seller shall deliver to the Purchaser a statement (the “Closing Date Indebtedness Statement”), signed by an officer of the Seller, which sets forth, by creditor, the aggregate amount of the Closing Date Indebtedness. Copies of the Payoff Letters, delivered in accordance with Section 9.1(g) hereof, shall be attached to the Closing Date Indebtedness Statement.

      Section 3.3 Payment of Purchase Price. On the Closing Date, the Purchaser shall, from the Purchase Price:

        (a) repay or cause to be repaid on behalf of the Seller the Closing Date Indebtedness, as set forth in the Closing Date Indebtedness Statement;

        (b) issue to the Seller a promissory note in the form set out as Exhibit 3.3(b) in the amount of $4,366,279, constituting a portion of the Purchase Price, (the “Purchaser Note”) and, in consideration for the assignment of the Purchaser Note by the Seller to the Parent:

  
          (i) cause the Parent to issue to the Seller 82,616 shares of Parent Stock (the “Holdback Shares”) for a subscription price equal to $3,493,023 (the “Holdback Amount”), to be held as partial security for the obligations of the Seller and the Shareholder Parties hereunder as further provided in Section 3.6 below; and

          (ii) cause the Parent to issue to the Seller 20,654 shares of Parent Stock (the “Transferred Shares”) for a subscription price equal to $873,256; and

  

        (c) pay or cause to be paid to the Seller, in cash, an amount equal to $13,098,835 minus the amount of the Closing Date Indebtedness (as set forth in the Closing Date Indebtedness Statement).

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      In connection with Section 3.3(b), (a) the Seller hereby agrees that, upon the receipt of the Purchaser Note from the Purchaser, the Seller shall immediately subscribe for the Holdback Shares and the Transferred Shares and (b) in accordance with Section 7.23, the Parent hereby agrees that it shall issue to the Seller the Holdback Shares (subject to Section 3.6 below) and the Transferred Shares and that the assignment of the Purchaser Note from the Seller to the Parent shall satisfy the subscription price for such shares.

      Section 3.4 Working Capital Adjustment.

        (a) Within ninety (90) days following the Closing Date, the Purchaser shall, at its sole cost and expense, prepare and deliver to the Seller the Working Capital Schedule and its calculation of the Working Capital Surplus or Working Capital Deficit, if any, based thereon.

      (b) The Seller shall have thirty (30) days
following receipt of the Working Capital Schedule delivered pursuant to
Section 3.4(a) during which to notify the Purchaser of any dispute of any
item contained therein, which notice shall set forth in detail the basis for
such dispute. The Purchaser and the Seller shall cooperate in good faith to
resolve any such dispute as promptly as possible. Upon such resolution, the
Final Working Capital Schedule shall be prepared in accordance with the
agreement of the Purchaser and the Seller and the calculation of the Working
Capital Surplus or Working Capital Deficit, if any, based thereon shall be final
and binding upon the Parties. In the event the Seller does not notify the
Purchaser of any such dispute within such thirty (30)-day period or notifies the
Purchaser within such period that it does not dispute any item contained
therein, the Working Capital Schedule delivered pursuant to Section
3.4(a) shall constitute the Final Working Capital Schedule and the
Purchaser’s calculation of the Working Capital Surplus or Working Capital
Deficit, if any, based thereon shall be final and binding upon the Parties.

      (c) For the purposes of the Seller’s
review of the Working Capital Schedule and the Purchaser’s calculation of
the Working Capital Surplus or Working Capital Deficit, if any, delivered
pursuant to Section 3.4(a), the Purchaser shall make available, on a
timely basis (including the right to make at the Seller’s expense, copies),
to the Seller, the Shareholder Parties and their respective representatives, the
books and records of the Purchaser with respect to the items used in the
determination of the Working Capital Schedule, the Working Capital Surplus or
Working Capital Deficit as may be reasonably requested by the Seller, the
Shareholder Parties and/or their respective representatives.

      (d) In the event the Purchaser and the Seller
are unable to resolve any dispute regarding the Working Capital Schedule
delivered pursuant to Section 3.4(a) within fifteen (15) days following
the Purchaser’s receipt of notice of such dispute, such dispute shall be
submitted to, and all issues having a bearing on such dispute shall be resolved
by an Accounting Referee chosen in accordance with the definition of
“Accounting Referee” in Section 1.1, but jointly retained by
the Seller and the Purchaser. In resolving any such dispute, the Accounting
Referee shall consider only those items or amounts in the

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   Working Capital Schedule as to which the Seller has disagreed or which may otherwise be relevant to the resolution of the disagreement. The Accounting Referee’s determination of the Working Capital Schedule and the Working Capital Surplus or Working Capital Deficit, if any, based thereon shall be final and binding on the Parties. The Accounting Referee shall be instructed to use commercially reasonable efforts to complete its work within thirty (30) days following its engagement. All fees and expenses of such Accounting Referee shall be shared equally by the Seller and the Purchaser.

      (e) Within five (5) Business Days following
the determination of the Final Working Capital Schedule, if there is a Working
Capital Surplus, the Purchaser shall pay to the Seller an amount equal to the
Working Capital Surplus in cash, and if there is a Working Capital Deficit, the
Seller shall pay to the Purchaser an amount equal to the Working Capital Deficit
in cash. If the Seller fails to so pay the Purchaser, the Purchaser may, at its
election, following such five (5)-day period, make a claim against the Holdback
Shares by delivering written notice of such claim to the Seller, at which time
the Holdback Amount shall be reduced in accordance with Section 3.6;
provided that, subject to Section 12.9, nothing shall prevent the
Purchaser from exercising any other remedy available to it under this Agreement,
including, without limitation, initiating a claim under Article XII
hereto, in order to recover an amount equal to the Working Capital Deficit plus
interest, costs of collection or other Losses, if any, as a result of the
Seller’s failure to pay to the Purchaser an amount equal to the Working
Capital Deficit in cash in accordance with the preceding sentence.

      (f) Where there is any dispute as to the
amount of money owing by any Party to any other Party pursuant to this Section,
the portion of the amount owing that is not in dispute or otherwise contested or
challenged, if any, shall be paid within the time required herein or if the
required time has elapsed, shall be paid immediately, without deduction or
abatement, but without prejudice to the rights of the Parties to contest,
challenge or otherwise dispute the appropriate disposition of the remaining
portion of the money claimed pursuant to this Section.

      Section 3.5 Holdback Period Adjustment.

        (a) Within sixty (60) days following the end of the Holdback Period, the Purchaser shall prepare and deliver to the Seller the Holdback Adjustment Schedule and its calculation of the Holdback Period Surplus or Holdback Period Deficit, if any, based thereon. To the extent the Purchaser requires any changes in the accounting treatment of any matters from the manner in which similar matters were treated in preparing the 2009 Financial Statements of the Seller, and such changes would have an adverse impact on the calculation of Holdback Period Revenue or Holdback Period EBITDA in respect of the Seller, such changes will be made but their effects will be excluded for purposes of the calculation of each of Holdback Period Revenue or Holdback Period EBITDA.

        (b) The Seller shall have thirty (30) days following receipt of the Holdback Adjustment Schedule delivered pursuant to Section 3.5(a) during which to notify the

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 Purchaser of any dispute of any item contained therein, which notice shall
set forth in detail the basis for such dispute. The Purchaser and the Seller
shall cooperate in good faith to resolve any such dispute as promptly as
possible. Upon such resolution, the Final Holdback Adjustment Schedule shall be
prepared in accordance with the agreement of the Purchaser and the Seller and
the calculation of the Holdback Period Surplus or Holdback Period Deficit, if
any, based thereon shall be final and binding upon the Parties. In the event the
Seller does not notify the Purchaser of any such dispute within such thirty
(30)-day period or notifies the Purchaser within such period that it does not
dispute any item contained therein, the Holdback Adjustment Schedule delivered
pursuant to Section 3.5(a) shall constitute the Final Holdback Adjustment
Schedule and the Purchaser’s calculation of the Holdback Period Surplus or
Holdback Period Deficit, if any, based thereon shall be final and binding upon
the Parties.

      (c) For the purposes of the Seller’s
review of the Holdback Adjustment Schedule and the Purchaser’s calculation
of the Holdback Period Surplus or Holdback Period Deficit, if any, delivered
pursuant to Section 3.5(a), the Purchaser shall make available, on a
timely basis (including the right to make at the Seller’s expense, copies),
to the Seller, the Shareholder Parties and their respective representatives, the
books and records of the Purchaser with respect to the items used in the
determination of the Holdback Adjustment Schedule, the Holdback Period Surplus
or Holdback Period Deficit as may be reasonably requested by the Seller, the
Shareholder Parties and/or their respective representatives.

      (d) In the event the Purchaser and the Seller
are unable to resolve any dispute regarding the Holdback Adjustment Schedule
delivered pursuant to Section 3.5(a) within fifteen (15) days following
the Purchaser’s receipt of notice of such dispute, such dispute shall be
submitted to, and all issues having a bearing on such dispute shall be resolved
by an Accounting Referee chosen in accordance with the definition of
“Accounting Referee” in Section 1.1, but jointly retained by
the Seller and the Purchaser. In resolving any such dispute, the Accounting
Referee shall consider only those items or amounts in the Holdback Adjustment
Schedule as to which the Seller has disagreed or which may otherwise be relevant
to the resolution of the disagreement. The Accounting Referee’s
determination of the Holdback Adjustment Schedule and the Holdback Period
Surplus or Holdback Period Deficit, if any, based thereon shall be final and
binding on the Parties. The Accounting Referee shall be instructed to use
commercially reasonable efforts to complete its work within thirty (30) days
following its engagement. All fees and expenses of such Accounting Referee shall
be shared equally by the Seller and the Purchaser.

      (e) Within five (5) Business Days following
the determination of the Final Holdback Adjustment Schedule (the
“Release Date”), if there is a Holdback Period Deficit, the
Holdback Amount shall be reduced by the amount of such Holdback Period Deficit
in accordance with Section 3.6. For greater clarity and certainty, in the
event of a Holdback Period Deficit, the Purchaser’s sole remedy and
recourse shall be limited to the Holdback Amount pursuant to Section 3.6
below.

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        (f) Where there is any dispute as to the amount of money owing by any Party to any other Party pursuant to this Section or Article VIII, the portion of the amount owing that is not in dispute or otherwise contested or challenged, if any, shall be paid within the time required herein or if the required time has elapsed, shall be paid immediately, without deduction or abatement, but without prejudice to the rights of the Parties to contest, challenge or otherwise dispute the appropriate disposition of the remaining portion of the money claimed pursuant to this Section.

      Section 3.6 Holdback Amount.

        (a) At the Closing, the Purchaser shall cause certificates representing the Holdback Shares to be delivered to the Parent’s headquarters offices, along with stock powers endorsed in blank by the Seller corresponding to such certificates.

        (b) At any time and from time to time upon ten (10) days prior written notice to the Purchaser, the Seller may pay an amount in cash to the Parent to be held in escrow by the Parent as Holdback Cash (as defined below) equal to the value of any Holdback Shares then held by the Parent, at which time the Parent shall release such Holdback Shares to the Seller. Such amount delivered in cash shall become part of the Holdback Amount (the “Holdback Cash”). The Parent shall deposit such cash in its bank accounts to be held by Parent in escrow as Holdback Cash and any interest or investment earnings thereon shall belong to the Seller. For the avoidance of doubt, in accordance with Section 3.10, for all purposes of this Section 3.6 and this Agreement, each Holdback Share shall be deemed to have a value equal to the Parent Stock Value, regardless of the fair market value of the Holdback Shares at any time.

        (c) The Holdback Shares and any Holdback Cash shall be retained by the Parent as partial security for (i) any non-payment by the Seller in the event payment is required to be made in respect of a Working Capital Deficit determined pursuant to Section 3.4(d), (ii) any Holdback Period Deficit determined pursuant to Section 3.5(d), and (iii) the indemnity obligations of the Seller and the Shareholder Parties under Article XII of this Agreement arising within twelve (12) months from the Closing Date.

      (d) In the event of a Working Capital Deficit
or Holdback Period Deficit entitling the Purchaser to a reduction to the
Holdback Amount pursuant to Section 3.4(d) or Section 3.5(d)
hereto, or upon final resolution of any claim entitling the Purchaser to payment
pursuant to Article XII which arose within twelve (12) months from the
Closing Date, the Holdback Amount shall be reduced by the amount of such Working
Capital Deficit, Holdback Period Deficit, or amount the Purchaser Indemnified
Party is entitled in respect of such claim, as applicable. For the purposes of
settling any such Working Capital Deficit, Holdback Period Deficit or claim, as
applicable, the number of Holdback Shares to be cancelled to settle such amount
shall be equal to the amount of such Working Capital Deficit, Holdback Period
Deficit or claim, as applicable, divided by the Parent Stock Value;
provided that in lieu of settling such claim by cancelling such Holdback Shares,
the Seller shall have the option to settle such claim in cash by paying an
amount in cash equal to such settlement amount in which case such Holdback
Shares

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   shall not be cancelled. Subject to the Seller’s prior right in the immediately preceding sentence, the reduction to the Holdback Amount may be applied against the Holdback Cash and/or the Holdback Shares at the Purchaser’s election. Upon any cancellation of shares, a new certificate representing a number of Holdback Shares equal to the then-remaining stock portion of the Holdback Amount divided by the Parent Stock Value shall be issued to, and registered in, the name of the Seller, provided that the Seller delivers a stock power endorsed in blank for such certificate at the time of such issuance.

      (e) On the Release Date, the Purchaser shall
(i) release and cause to be delivered to the Seller the then-remaining and
undisputed Holdback Shares, and (ii) pay to the Seller an amount equal to the
then-remaining and undisputed Holdback Cash. Any Holdback Shares or Holdback
Cash subject to dispute pursuant to a Notice of Claim delivered under Article
XII shall be held, or shall not be paid, as applicable, until final
resolution of the claim set forth therein. Upon final resolution of all such
claims following the Release Date, the Purchaser shall release to the Seller all
of the then-remaining Holdback Shares and shall pay to the Seller an amount
equal to the then-remaining Holdback Cash. As a condition to receiving any
release of Holdback Shares hereunder, the Seller shall execute, and the
Shareholder Parties shall cause the Seller to execute all documents (including,
without limitation, stock powers), and shall take all actions (at the sole cost
and expense of the Purchaser Parties) reasonably requested by the Purchaser and
the Parent to effect any cancellations, transfers and issuances of stock
certificates reasonably necessary to enable the Purchaser and the Parent to make
payments of and reductions to the Holdback Amount and Holdback Shares pursuant
to this Section 3.6.

        (f) Any shares of Parent Stock or other equity securities issued or distributed by the Parent (including shares issued upon a stock split, reverse split, conversion, combination or reclassification) (“New Shares”) in respect of Holdback Shares which have not been released to the Seller shall be added to and become a part of the Holdback Shares and shall be considered Holdback Shares for purposes of this Agreement. New Shares issued in respect of shares of Holdback Shares which have been released to the Seller shall not be added to the Holdback Shares but shall be distributed to the record holders thereof. Cash dividends in respect of Holdback Shares, whether they have or have not been released to the Seller, shall be paid to the Seller for purposes of this Agreement.

        (g) The Seller shall have all dividend and voting rights with respect to its corresponding Holdback Shares; provided, however, that the Seller shall have no right to transfer, pledge, encumber or otherwise dispose in any manner whatsoever any Holdback Shares which have not been released to the Seller, other than as permitted under Section 7.23. Notwithstanding anything contained herein to the contrary, Holdback Shares shall not be registrable pursuant to the Securities Act, so long as they have not been released to the Seller, and neither the Parent nor the Purchaser shall take any action to register such shares.

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        (h) The Parties acknowledge that the Founder’s employment with the Purchaser for at least a period of one (1) year from the Closing Date under the terms of the Founder Employment Agreement is essential consideration for the payment of the Holdback Shares and any release thereof. Therefore, notwithstanding anything herein to the contrary, if the Founder’s employment is terminated by the Founder by virtue of his resignation prior to the first (1st) anniversary of the Closing Date, then, on such termination date, the Holdback Amount shall immediately be reduced to zero ($0), all of the remaining Holdback Shares shall be cancelled, and the Seller shall have no further right or interest in or to the Holdback Shares.

      Section 3.7 Conduct of the Purchased
Business Until the Completion of the Holdback Period. From the time of the
Closing until the completion of the Holdback Period, as long as the Founder
continues to be actively employed by the Purchaser under the Founder Employment
Agreement, the Purchaser shall use reasonable efforts to communicate (orally,
electronically or in writing) in advance to the Seller any change in the
operations or direction of the Purchased Business that would reasonably be
anticipated to have a material adverse impact on the Holdback Period Revenue
and/or Holdback Period EBITDA (as relative to normalized EBITDA or the revenues
of the Seller reflected on Exhibit 12.6) following which the Seller and
the Shareholder Parties shall be permitted to submit to the Parent and the
Purchaser, for consultation purposes only, any concerns they may have related to
any potential adverse impact such change may have on the Holdback Period Revenue
and/or Holdback Period EBITDA, and the Parties agree that the exercise of such
consultation right shall not impact the EBITDA calculation at Section
3.5.

      Section 3.8 Allocation of Purchase Price. The Parties agree that the Purchase Price (including Assumed Liabilities) shall be allocated among the Assets in accordance with Exhibit 3.8 (the “Allocation Schedule”). To the extent the Purchase Price is adjusted pursuant to Section 3.4, Section 3.5, Section 3.6 or Article XII, the Parties shall amend the Allocation Schedule to reflect such adjustments. The Parties further agree to use such allocation of the Purchase Price for all purposes unless otherwise required at Law or unless arising out of or through an audit or other inquiry or examination by an applicable Governmental Entity.

      Section 3.9 Cash Payments. All cash payments required to be made under this Article III or Article VIII or any other provision hereof shall be made in cash by wire transfer of immediately available funds to such bank accounts as shall be designated in writing by the Person to which the applicable payment is due. All cash payments shall be made in Canadian dollars.

      Section 3.10 Parent Stock Payments. No fractional shares of Parent Stock shall be issued to the Seller hereunder, and the number of shares of Parent Stock to be issued shall be rounded to the nearest whole share. For all purposes of this Agreement, each share of Parent Stock shall be deemed to have a value equal to the Parent Stock Value, regardless of the fair market value of the Parent Stock.

      Section 3.11 Payment Instruction. The Seller hereby instructs the Purchaser to issue all Parent Stock to be issued under this Agreement directly to the Seller, and agrees and acknowledges that any issuances actually made as so instructed shall constitute adequate and sufficient consideration hereunder and shall extinguish any liability of the Purchaser to the Seller for such payments hereunder.

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 ARTICLE IV 

  REPRESENTATIONS AND WARRANTIES OF 

  THE SELLER AND THE SHAREHOLDER PARTIES

      Except as set forth in the disclosure schedules of the Seller and the Shareholder Parties attached hereto (the “Disclosure Schedules”) (such that a disclosure set forth in any section of the Disclosure Schedules numbered to correspond with any section of the Agreement shall be deemed to apply to that section only, unless otherwise specifically cross-referenced; provided, however that, the inclusion of any information in any Disclosure Schedule (or any update) shall not be deemed to be an acknowledgement, in and of itself, that such information is required to be disclosed, is material to the Seller and/or the Shareholder Parties, has resulted in or would result in a Material Adverse Effect or is outside the ordinary course of business), the Seller and the Shareholder Parties hereby, jointly and severally, represent and warrant to the Purchaser Parties as follows as of the date hereof and the Closing Date:

      Section 4.1 Organization.

      (a) The Seller is a corporation duly
incorporated and validly existing under the Laws of its jurisdiction of
incorporation and has all requisite corporate power and authority to own, lease
and operate its properties and to carry on its business as now being conducted.
The Seller is duly qualified or registered as an extra-provincial or foreign
corporation to transact business under the Laws of each jurisdiction where the
character of its activities or the location of the properties owned or leased by
it requires such qualification or registration. Schedule 4.1(a) contains
a true, correct and complete list of the jurisdictions in which the Seller is
qualified or registered to do business as an extra-provincial or foreign
corporation. The Seller has made available to the Purchaser true, correct and
complete copies of the articles of the Seller, its bylaws as currently in effect
and its corporate record books with respect to actions taken by its shareholders
and board of directors.

        (b) Each of the Seller’s former legal names, and current and former trade names and dbas, is listed on Schedule 4.1(b), and other than as set forth on such schedule, the Seller does not conduct and has not conducted business under any name other than its current legal name.

        (c) The Seller does not own, directly or indirectly, any shares or other equity, securities or interests in any other corporation or in any other Person.

        (d) The Shareholder owns all of the issued and outstanding shares of the Seller. There are no outstanding options, warrants, conversion rights, subscriptions or other rights entitling any Person to acquire or receive, or requiring the Seller to issue, any of its shares or securities convertible into, or exchangeable for, shares. There are no outstanding contracts of the Seller or the Shareholder Parties or any other Person to purchase, redeem or otherwise acquire any of the shares of the Seller or securities or

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   obligations of any kind convertible into any shares of the Seller. The Shareholder has full and exclusive power, right and authority to vote all of the issued and outstanding shares of the Seller, and the Shareholder is not bound by any agreement affecting or relating to its right to transfer or vote, or control the voting of, the shares of the Seller.

        (e) Except for the Business, the Seller is not engaged in any other business or commercial activity. All activities and operations of the Business are conducted by the Seller and no Person (except in his or her capacity as a director, officer, independent contractor or employee of the Seller) is engaged in the Business.

        (f) There are no assets, properties or rights (whether real, personal or mixed and whether tangible or intangible) that are owned or used by the Seller that are not related to or utilized in its Business. Except for the Excluded Affiliate Debt, there are no liabilities of the Seller of any kind whatsoever, whether accrued, contingent, absolute or otherwise, that are not related to its Business.

      Section 4.2 Authorization. The Seller
has full corporate power and authority to execute and deliver this Agreement and
the Seller Ancillary Documents and to perform its obligations hereunder and
thereunder and to consummate the transactions contemplated hereby and thereby.
The execution and delivery of this Agreement and the Seller Ancillary Documents
by the Seller, the performance by the Seller of its obligations hereunder and
thereunder, and the consummation of the transactions provided for herein and
therein have been duly and validly authorized by all necessary corporate action
on the part of the Seller. This Agreement has been, and the Seller Ancillary
Documents shall be as of the Closing Date, duly and validly executed and
delivered by the Seller and do or shall, as the case may be, constitute the
valid and binding agreements of the Seller, enforceable against the Seller in
accordance with their respective terms, except (a) as such enforceability may be
limited by bankruptcy, insolvency, moratorium, reorganization and similar Laws
affecting creditors’ rights generally, and (b) as such enforceability may
be limited by general principles of equity, regardless of whether asserted in a
proceeding in equity or law.

      Section 4.3 Absence of Restrictions and
Conflicts. Except as disclosed in Schedule 4.3, the execution,
delivery and performance by the Seller of this Agreement and the Seller
Ancillary Documents, as applicable, the consummation of the transactions
contemplated hereby and thereby and the fulfillment of and compliance with the
terms and conditions hereof and thereof do not or shall not (as the case may
be), with or without the passing of time or the giving of notice or both, (a)
contravene or conflict with any term or provision of the constating documents of
the Seller, (b) violate or conflict with, constitute a breach of or default
under, result in the loss of any benefit under, permit the acceleration of any
obligation under or create in any party the right to terminate, modify or cancel
any Contract to which the Seller is a party, including the Assumed Contracts,
(c) contravene or conflict with any judgment, decree or order of any
Governmental Entity to which the Seller is a party or by which the Seller or any
of its respective properties are bound, (d) contravene or conflict with any Law
(other than any Law relating to privacy in respect of the transfer, under this
Agreement, of records containing information without providing notice and/or
obtaining consent) or arbitration award applicable to the Seller, or (e) result in the creation or imposition of any Lien (other than a Permitted Lien) on any Asset.

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      Section 4.4 Required Consents.
Schedule 4.4 sets forth each action, consent, approval, notification,
waiver, authorization, order or filing (each, a “Required
Consent” and collectively, the “Required Consents”)
under any Law (other than any Law relating to privacy in respect of the
transactions contemplated by this Agreement), License or written Contract to
which the Seller or a Shareholder Party is a party that is required with respect
to the execution, delivery and performance by the Seller or a Shareholder Party
of this Agreement or the Seller Ancillary Documents to avoid a breach or
violation of, or giving rise to any right of termination, cancellation or
acceleration of any right or obligation or to a loss of any benefit under any
such Law (other than any Law relating to privacy in respect of the transfer,
under this Agreement, of records containing information without providing notice
and/or obtaining consent), License or Contract. No consent, approval, order or
authorization of, or registration, declaration or filing with, any Governmental
Entity is required with respect to the Seller or a Shareholder Party in
connection with the execution, delivery or performance by the Seller or a
Shareholder Party of this Agreement or the Seller Ancillary Documents or the
consummation of the transactions contemplated hereby.

      Section 4.5 Real Property.

        (a) The Seller does not own, and does not have an option to acquire an ownership interest in, any real property.

        (b) Schedule 4.5(b) sets forth each Leased Real Property. The Leases are in full force and effect and are valid, binding and enforceable against the parties thereto in accordance with their respective terms.

        (c) Except for the Permitted Liens, no Leased Real Property is subject to (i) any Liens against the Seller, (ii) any decree or order of a Governmental Entity (or, to the Knowledge of the Seller, threatened or proposed decree or order of a Governmental Entity), or (iii) any rights of way, building use restrictions, exceptions, variances, reservations or limitations of any nature whatsoever.

        (d) The improvements and fixtures on the Leased Real Property are in good operating condition and in a state of good maintenance and repair, ordinary wear and tear excepted, and are adequate and suitable for the purposes for which they are presently being used. There is no condemnation, expropriation or similar proceeding pending or, to the Knowledge of the Seller, threatened against any of the Leased Real Property or any improvement thereon. The Leased Real Property constitutes all of the real property utilized by the Seller in the operation of its business. None of the Leased Real Property is used for any purpose other than the operation of the Business. The buildings and structures included in the Leased Real Property have access to (i) public roads or valid easements over private streets or private property for such ingress to and egress from all such buildings and structures, and (ii) water supply, storm and sanitary sewer facilities,

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   telephone, gas and electrical connections, fire protection, drainage and other public utilities, as is necessary for the conduct of the Seller’s business.

      Section 4.6 Personal Property. All of the tangible Assets (a) are free of defects and in good operating condition and in a state of good maintenance and repair, ordinary wear and tear excepted and (b) were acquired and are usable in the regular and ordinary course of business. All of the tangible Assets are located at the Leased Real Property with the exception of certain tangible Assets which are located at the residences of certain employees of the Seller. No Person other than the Seller owns any equipment or other tangible personal property or asset that is necessary to the operation of the Seller’s business. Schedule 4.6 sets forth a true, correct and complete list and general description of each tangible Asset having a book value which may be more than $1,000.

      Section 4.7 Sufficiency of and Title to Assets. The Assets constitute all of the assets (whether real, personal or mixed and whether tangible or intangible) necessary and sufficient to permit the Seller to conduct its business in accordance with the Seller’s past practices and as presently conducted. The Seller has (and shall convey to the Purchaser at the Closing) good title to or, in the case of the Leased Real Property or leased personal property, valid leasehold interests in, the Assets, free and clear of all Liens except Permitted Liens.

      Section 4.8 Inventory. The Seller does not acquire, maintain or sell, and has not ever acquired, maintained or sold any inventory.

      Section 4.9 Accounts Receivable. To the Knowledge of the Seller, the debtors to which the accounts receivable of the Seller relate are not in or subject to a bankruptcy or insolvency proceeding and none of such receivables have been made subject to an assignment for the benefit of creditors. All accounts receivable of the Seller (i) are good, valid, and, to the Knowledge of the Seller, collectible in a manner consistent with the Seller’s past practices without resort to legal proceedings or collection agencies, (ii) represent monies due for goods sold and delivered or services rendered, in each case in the ordinary course of business, and (iii) are not subject to any refund or adjustment or any defense, right of set-off, assignment, restriction, security interest or other Lien (other than a Permitted Lien). There are no disputes regarding the collectibility of any such accounts receivable.

      Section 4.10 Financial Statements.
Schedule 4.10 contains correct and complete copies of the 2009 Financial
Statements, and contains copies of the Additional Financial Statements. The 2009
Financial Statements are in conformity with GAAP using the accrual method of
accounting, and have been prepared from, and are in accordance with, the books
and records of the Seller. The balance sheet included in the 2009 Financial
Statements (including any related notes and schedules) is true, correct and
complete and fairly presents the financial position of the Seller as of the date
of such balance sheet, and the statement of operations and retained earnings
included in the 2009 Financial Statements (including any related notes and
schedules) is true, correct and complete and fairly presents the results of
operations of the Seller for the period set forth therein. The Additional
Financial Statements are internal financial statements, which have been
prepared, to the best of the Seller’s Knowledge, using all information
available to the Seller. Since the date of the Reference Balance Sheet, there
has been no change in any

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 accounting (or tax accounting) policy, practice or procedure of the Seller The Seller maintains accurate books and records reflecting its assets, liabilities, revenues and expenses and maintains proper and adequate internal accounting controls which provide assurance that (i) transactions are executed in accordance with management’s authorization, (ii) since August 1, 2009, transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP using the accrual method of accounting, and (iii) accounts, notes and other receivables are recorded accurately.

      Section 4.11 No Undisclosed Liabilities. There are no liabilities of the Seller of any kind whatsoever, whether accrued, contingent, absolute or otherwise, and whether known or unknown, except for:

        (a) liabilities and obligations fully reflected or provided for in the Reference Balance Sheet or reflected in the Final Working Capital Schedule; and

        (b) liabilities and obligations under Contracts that are not (i) attributable to any failure by the Seller to comply with the terms thereof or any express or implied warranty, or (ii) entered into in violation of this Agreement or arising out of a breach of this Agreement by the Seller.

      Section 4.12 Absence of Certain Changes. Since the date of the Reference Balance Sheet, there has not been (a) any Material Adverse Effect, (b) any damage, destruction, loss or casualty to property or assets of the Seller (including the Assets) with a value in excess of $10,000, whether or not covered by insurance, or (c) any sale, transfer or disposition of any properties or assets; or (d) any action taken out of the ordinary course of business.

      Section 4.13 Legal Proceedings. Except as set forth on Schedule 4.13, there is no suit, action, claim, arbitration, proceeding or investigation pending or, to the Knowledge of the Seller, threatened against the Seller or the Assets before any Governmental Entity. No suit, action, claim, proceeding or investigation pending or, to the Knowledge of the Seller, threatened against the Seller or the Assets before any Governmental Entity (including any of those set forth on Schedule 4.13), if finally determined adversely, is reasonably likely, individually or in the aggregate, to have a Material Adverse Effect. The Seller is not subject to any judgment, decree, injunction, rule or order of any court or arbitration panel.

      Section 4.14 Compliance with Law.

        (a) The Seller is (and has been at all times) in compliance in all material respects with all Laws applicable to the Business, including but not limited to such Laws relating to the corporate practice of medicine, conflict of interest and privacy (other than Laws relating to privacy in respect of the transfer, under this Agreement, of records containing information without providing notice and/or obtaining consent). The Seller (i) has not been charged with, and the Seller has not received any written notice that it is under investigation with respect to, and, to the Knowledge of the Seller, is not otherwise now under investigation with respect to, a violation of any applicable Law, (ii) is not a party to, or bound by, any order, judgment, decree, injunction, rule or award of any

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   Governmental Entity, and (iii) has filed all reports and has all Licenses required to be filed with any Governmental Entity on or prior to the date hereof.

        (b) Without limiting the generality of Section 4.14(a), neither the Seller nor any Shareholder Party, their Affiliates or partners, nor, to the Seller’s Knowledge, any Persons who provide professional services under agreements with any of the foregoing for the benefit of the Business, has engaged in any activities which are prohibited by any federal or provincial Law, regulation or rule in each jurisdiction in which the Business is carried on by the Seller relating to the regulation of the Canadian medical industry, including but not limited to such Laws relating to corporate practice of medicine, conflict of interest and privacy (other than Laws relating to privacy in respect of the transfer, under this Agreement, of records containing information without providing notice and/or obtaining consent).

      Section 4.15 Contracts. Each correspondingly lettered section of Schedule 4.15 sets forth a true, correct and complete list of the following Contracts currently in force to which the Seller is a party or under which the Seller has continuing liabilities and/or obligations (other than the Seller Benefit Plans set forth on Schedule 4.18(a) and the policies of insurance on Schedule 4.20):

        (a) bonds, debentures, notes, credit or loan agreements or loan commitments, mortgages, indentures, guarantees or other Contracts relating to the borrowing of money or the deferred purchase price of property or binding upon any properties or assets (real, personal or mixed, tangible or intangible) of the Seller;

        (b) Contracts that were not entered into in the ordinary course of business, consistent with past practices;

        (c) Leases, leases of any personal property and all other Contracts involving any properties or assets (whether real, personal or mixed, tangible or intangible), involving an annual commitment or payment of or performance having a value of more than $10,000 by the Seller;

        (d) Contracts that (i) limit or restrict the Seller or any officers, directors, employees, shareholders or other equity holders, agents or representatives of the Seller (in their capacity as such) from engaging in any business or other activity in any jurisdiction, (ii) create or purport to create any exclusive or preferential relationship or arrangement, or (iii) otherwise restrict or limit the Seller’s ability to operate or expand its business, or (iv) impose, or purport to impose, any obligations or restrictions on Affiliates of the Seller;

        (e) Contracts for capital expenditures or the acquisition or construction of fixed assets requiring the payment by the Seller of an amount in excess of $10,000;

        (f) Contracts that provide for any payment or benefit upon the execution hereof or the Closing or in connection with the transactions contemplated hereby, including accelerated vesting or other similar rights;

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        (g) Contracts granting any Person a Lien (other than a Permitted Lien) on all or any part of any Assets;

        (h) Contracts for the cleanup, abatement or other actions in connection with any Hazardous Materials, the remediation of any existing environmental condition or relating to the performance of any environmental audit or study;

        (i) Contracts granting to any Person an option or a right of first refusal, first-offer or similar preferential right to purchase or acquire any assets of the Seller;

        (j) Contracts with any agent, distributor or representative that is not terminable without penalty on thirty (30) days’ or less notice;

        (k) Contracts for the granting or receiving of a license, sublicense or franchise or under which any Person is obligated to pay or has the right to receive a royalty, license fee, franchise fee or similar payment;

        (l) Contracts (i) with respect to Seller Intellectual Property licensed or transferred to any third party (other than end user licenses in the ordinary course of business) or (ii) pursuant to which a third party has licensed or transferred any Seller Intellectual Property to the Seller;

        (m) Contracts providing for the indemnification or holding harmless of any officer, director, employee or other Person;

        (n) joint venture or partnership Contracts or Contracts entitling any Person to any profits, revenues or cash flows of the Seller or requiring payments or other distributions based on such profits, revenues or cash flows;

        (o) Contracts with Customers or Suppliers;

        (p) outstanding powers of attorney empowering any Person to act on behalf of the Seller;

        (q) Contracts relating to any co-operative organization, franchise organization or similar organization;

        (r) Contracts with any Governmental Entity; (s) Employment Agreements; (t) Medical Consulting Agreements;

        (u) Contracts with any independent contractor or consultant, other than Medical Consulting Agreements; and

        (v) Contracts (other than those described in subsections (a) through (u) of this Section 4.15) to which the Seller is a party or by which its properties or assets are bound

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        (i) involving an annual commitment or annual payment to or from the Seller of more than $10,000 individually or (ii) that are material to the Seller, individually or in the aggregate.

 True, correct and complete copies of all Assumed Contracts have been
provided to the Purchaser other than certain ordinary course operating and
procedural changes. The Assumed Contracts are legal, valid, binding and
enforceable in accordance with their respective terms (and certain additional
ordinary course operating and procedural changes) with respect to the Seller
and, to the Knowledge of the Seller, each other party thereto. There is no
existing default or breach of the Seller under any Assumed Contract (or event or
condition that, with notice or lapse of time or both could constitute a default
or breach) and, to the Knowledge of the Seller, there is no such default (or
event or condition that, with notice or lapse of time or both, could constitute
a default or breach) with respect to any third party to any Assumed Contract.
There is no term, obligation, understanding or agreement that would modify any
term of an Assumed Contract or any right or obligation of a party thereunder
which is not reflected on the face of such Assumed Contract other than ordinary
course operating and procedural changes. Except as set out in Schedule 4.15, the
Seller is not participating in any discussions or negotiations regarding
modification of or amendment to any Assumed Contract or entry into any new
Contract.

      Section 4.16 Tax Returns; Taxes.

        (a) All Tax Returns due to have been filed by the Seller through the date hereof in accordance with all applicable Laws (pursuant to an extension of time or otherwise) have been duly filed and are true, correct and complete in all respects.

        (b) All Taxes (including all installments on account thereof), deposits and other payments that are due and payable (whether or not shown on any Tax Return) have been paid in full on a timely basis or are accrued as liabilities for Taxes in the 2009 Financial Statements.

        (c) The amounts so paid, together with all amounts accrued as liabilities for Taxes (including Taxes accrued as currently payable but excluding any accrual to reflect timing differences between book and tax income) on the books of the Seller, shall be adequate based on the tax rates and applicable Laws in effect to satisfy all liabilities for Taxes of the Seller in any jurisdiction through the Closing Date, including Taxes accruable upon income earned through the Closing Date.

        (d) There are not now any extensions of time in effect with respect to the dates on which any Tax Returns were or are due to be filed by the Seller.

        (e) All Tax deficiencies asserted as a result of any examination by a Governmental Entity of a Tax Return of the Seller have been paid in full, accrued on the books of the Seller or finally settled, and no issue has been raised in any such examination that, by application of the same or similar principles, reasonably could be expected to result in a proposed Tax deficiency for any other period not so examined.

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        (f) No claims have been asserted and no proposals or deficiencies for any Taxes of the Seller are being asserted, proposed or, to the Knowledge of the Seller and the Shareholder Parties, threatened, and no audit or investigation of any Tax Return of the Seller is currently underway, pending or threatened.

        (g) No claim has ever been made against the Seller by any Governmental Entity in a jurisdiction where the Seller does not file Tax Returns that the Seller is or may be subject to taxation in such jurisdiction.

        (h) The Seller has duly and timely withheld or collected and paid all Taxes required to have been withheld or collected by it in connection with amounts paid or owing to any employee, director, independent contractor, creditor or equity holder thereof or other third party and has duly and timely remitted such amounts to the appropriate Government Entity as required by applicable Laws.

        (i) There are no outstanding waivers or agreements between any Governmental Entity and the Seller for the extension of time for the assessment of any Taxes or deficiency thereof, nor are there any requests for rulings, outstanding subpoenas or requests for information, notice of proposed reassessment of any property owned or leased by the Seller or any other matter pending between the Seller and any Governmental Entity.

        (j) There are no Liens for Taxes with respect to the Seller or the assets or properties of the Seller, nor is there any such Lien that is pending or, to the Knowledge of the Seller, threatened.

        (k) The Seller is not a party to or bound by any Tax allocation or sharing agreement.

        (l) The Seller will not be required to include any item of income in, or exclude any item of deduction from, taxable income for any Tax period after the Closing Date as a result of any (i) change in method of accounting for a Tax period ending on or prior to the Closing Date; (ii) installment sale or open transaction disposition made on or prior to the Closing Date; or (iii) prepaid amount received on or prior to the Closing Date.

        (m) The Seller is not a non-resident of Canada under the Income Tax Act (Canada).

        (n) The Seller is registered for purposes of the Excise Tax Act (Canada) and its GST registration number is 871658183RT0001. Following the Closing, the Purchaser will have ownership, possession or use of all or substantially all of the property that can reasonably be regarded as being necessary for the Purchaser to be able to carry on the Business for the purposes of the Excise Tax Act (Canada).

      Section 4.17 Officers, Employees and Independent Contractors. Schedule 4.17 contains a true, correct and complete list of (a) all of the officers of the Seller, specifying their position, annual rate of compensation, date of hire, work location, length of service, hours of

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 service, and employee benefit coverages selected, (b) all of the employees
(whether full-time, part-time or otherwise) of the Seller as of the date hereof,
specifying their position, annual salary and other compensation, hourly wages,
date of hire, work location (i.e., where services are performed), length of
service, hours of service, employee benefit coverages selected and their status
as active or inactive, (c) all of the independent contractors used by the Seller
(including, without limitation, physicians, examiners, and medical assistants)
who were paid, in the aggregate, more than $1,000 during calendar year 2009,
specifying the name of the independent contractor, type of labour (and
specialty, in the case of physicians), fees (including commissions, royalties
and bonuses) paid to such independent contractor for the calendar year 2009, and
province of primary work location (i.e., where services are performed). All
Persons classified by the Seller as independent contractors have been properly
classified in accordance with all applicable Laws and no such Person is eligible
to participate in any Seller Benefit Plan. To the Knowledge of the Seller, each
independent contractor listed on Schedule 4.17 has the requisite
License(s) required to provide the services such independent contractor provides
the Seller. Neither the Seller nor any Shareholder Party received a claim from
any Governmental Entity to the effect that the Seller has improperly classified
any Person as an independent contractor, nor to the Knowledge of the Seller has
any such claim been threatened. Neither the Seller nor any Shareholder Party has
made any written or verbal commitments to any officer, employee, former
employee, consultant or independent contractor of the Seller with respect to
compensation, promotion, retention, termination, severance or similar matters in
connection with the transactions contemplated hereby.

      Section 4.18 Seller Benefit Plans.

        (a) Schedule 4.18(a) contains a true, correct and complete list of each Seller Benefit Plan. Each Seller Benefit Plan was established and has been administered and invested in compliance with applicable Laws and the terms of the Seller Benefit Plan. All contributions required to be made to any Seller Benefit Plan have been made in compliance with applicable Laws and the terms of the Seller Benefit Plan. The Seller does not maintain or contribute to, has not maintained or contributed to, and has not and could not otherwise incur any material liability with respect to any Seller Benefit Plan other than as set out in Schedule 4.18(a) (whether or not in writing). The Seller’s records accurately reflect the employment or service histories of its employees, independent contractors, contingent workers and leased employees, including their hours of service.

        (b) The transactions contemplated by this Agreement will not result (either alone or in combination with any other event) in: (i) any payment of, or increase in, remuneration or benefits, to any officer, director, employee or consultant of the Seller; (ii) any cancellation of indebtedness owed to the Seller by any employee, officer, director or consultant of the Seller; (iii) the acceleration of the vesting, funding or time of any payment or benefit to any officer, director, employee or consultant of the Seller; or (iv) any change of control benefits.

        (c) The Seller has not announced or entered into any plan or binding commitment to (i) create or cause to exist any additional Seller Benefit Plan, or (ii) adopt, amend or terminate any Seller Benefit Plan.

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      Section 4.19 Labour Relations.

        (a) There are no Labour contracts, collective bargaining agreements, letters of understanding or other arrangements, formal or informal, with any union or Labour organization covering the Seller’s employees or contractors and none of such employees or contractors are represented by any union or Labour organization.

        (b) The Seller is in compliance in all material respects with all Labour Laws in each jurisdiction in which the Business is carried on by the Seller. The Seller is not and has not been engaged in any unfair Labour practice, and to the Knowledge of the Seller, no unfair Labour practice complaint against the Seller is pending before any Governmental Entity. To the Knowledge of each of the Seller and the Shareholder Parties there is no Labour strike, organizing or certification activity or other Labour issues actually pending, being threatened against, or affecting the Seller.

      Section 4.20 Policies of Insurance.
Schedule 4.20 contains a true, correct and complete list of all policies
of insurance carried by or for the benefit of the Seller, specifying the
insurer, the amount of and nature of coverage, the risk insured against, the
deductible amount (if any) and the date through which coverage shall continue by
virtue of premiums already paid. The Seller maintains sufficient insurance with
reputable insurers for the business and assets of the Seller against all risks
normally insured against, and in amounts normally carried, by the Seller
consistent with past practices. All policies of insurance and bonds with respect
to the business and assets of the Seller are in full force and effect and shall
be maintained by the Seller in full force and effect as they apply to any
matter, action or event relating to the Seller occurring through the Closing
Date and the Seller has not reached or exceeded its policy limits for any
insurance policy in effect at any time during the past five (5) years.

      Section 4.21 Environmental, Health and
Safety Matters. The Seller is and has been in compliance with all applicable
Environmental Laws. There is no investigation, suit, claim, action or proceeding
relating to or arising under Environmental Laws that is pending or, to the
Knowledge of the Seller, threatened against the Seller or relating to or
involving the Business or any real property used or leased by the Seller. To the
Knowledge of the Seller, the real property leased or used by the Seller does not
contain any Hazardous Materials. The Seller has not received any written notice
of or entered into or received any order, settlement, judgment, injunction or
decree involving uncompleted, outstanding or unresolved obligations, liabilities
or requirements relating to or arising under Environmental Laws.

 Section 4.22 Intellectual Property.

        (a) Schedule 4.22(a) contains a true, correct and complete list of (i) all Seller Registered Intellectual Property; and (ii) all material Seller Intellectual Property that is not Seller Registered Intellectual Property that is used in connection with the operation and conduct of the Business. All necessary registration, maintenance and renewal fees currently due in connection with Seller Registered Intellectual Property have been made and all necessary documents, recordations and certifications in connection with such Seller Registered Intellectual Property have been filed with the relevant Governmental

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   Entities for the purpose of maintaining such Seller Registered Intellectual Property considered commercially reasonable and desirable by Seller. The licensing by the Seller of any Seller Registered Intellectual Property has been subject to commercially reasonable quality control.

        (b) The Seller owns, or is licensed or otherwise has the right to use, free and clear of any Liens (other than Permitted Liens), all Seller Intellectual Property used in connection with the operation and conduct of the Business.

      (c) Schedule 4.22(c) sets forth a true,
correct and complete list of the Seller Proprietary Software. The Seller has all
right, title and interest in and to the Seller Proprietary Software (including
all Intellectual Property rights thereto), free and clear of all Liens, except
Permitted Liens. The Seller has possession of the source code to the Seller
Proprietary Software. No portion of the Seller Proprietary Software contains,
embodies, uses, copies, comprises or requires the work of any third party. To
the Knowledge of the Seller, the Seller Proprietary Software conforms to the
standards generally observed in the industry for similar Software, is free from
material defects, errors and deficiencies, is fit for the purposes and uses
intended by the Seller, and is free from material viruses, Trojan horses, worms,
backdoors and other code or instructions intentionally designed to disrupt,
disable harm, interfere with or otherwise affect computer programs, data files
or operations.

        (d) Schedule 4.22(d) sets forth a true, correct and complete list of Seller Licensed Software, together with the number of licenses, users or seats purchased for each Seller Licensed Software program. The Seller has complied in all material respects with the terms of any applicable end user license agreement or other Contract applicable to such Seller Licensed Software and has purchased and maintained at all times the requisite number of licenses, users or seats necessary to the operation of the Business. All license, maintenance and/or support fees due in connection with the Seller Licensed Software have been fully paid. The Seller has not illegally downloaded or copied, or used illegally downloaded or copied versions of, any Seller Licensed Software.

        (e) All Seller Intellectual Property which the Seller purports to own was developed by (i) an employee of the Seller working within the scope of his or her employment at the time of such development, or (ii) agents, consultants, contractors or other Persons who have executed appropriate instruments of assignment in favor of the Seller as assignee that have conveyed to the Seller ownership of all intellectual property rights in the Seller Intellectual Property. To the extent that any Seller Intellectual Property has been developed or created by a third party for the Seller, the Seller has a written agreement with such third party with respect thereto and the Seller thereby has obtained ownership of and is the exclusive owner of, all of such third party’s Intellectual Property in such work, material or invention by operation of law or by valid assignment.

        (f) To the Knowledge of the Seller, neither the Seller nor any of its products or services has infringed upon or otherwise violated, or is infringing upon or otherwise violating, the Intellectual Property of any third party. To the Knowledge of the Seller, no

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   Person has infringed upon or violated, or is infringing upon or violating, any Seller Intellectual Property.

        (g) The Seller is not subject to any proceeding or outstanding decree, order, judgment, agreement or stipulation (i) restricting in any manner the use, transfer or licensing by the Seller of any of the Seller Intellectual Property or (ii) that may affect the validity, use or enforceability of the Seller Intellectual Property or any product or service of the Seller related thereto.

        (h) None of the source code of the Seller has been published or disclosed by the Seller, except pursuant to a written non-disclosure agreement that is in the standard form used by the Seller or similar agreement requiring the recipient to keep such source code or trade secrets confidential, or, to the Knowledge of the Seller, by any third party to any other third party except pursuant to licenses or other Contracts requiring such third party to keep such trade secrets confidential. The current standard form of non-disclosure agreement used by the Seller has been provided to the Purchaser prior to the date of this Agreement.

        (i) The Seller has taken commercially reasonable steps to protect its rights in the Confidential Information and any trade secret or confidential information of third parties used by the Seller, and, except under confidentiality obligations, there has not been any disclosure by the Seller of any Confidential Information or any such trade secret or confidential information of third parties.

      Section 4.23 Affiliate Matters. Except
for the Excluded Affiliate Debt or as set forth on Schedule 4.23, neither
(a) of the Shareholder Parties, nor (b) any officer or director of the Seller,
(b) Person with whom a Shareholder Party or any such officer or director has any
direct or indirect relation by blood, marriage or adoption, (c) any entity in
which such Shareholder Party, officer, director or Person owns any beneficial
interest (other than a publicly held corporation whose stock is traded on a
national securities exchange or in the over-the-counter market and less than one
percent (1%) of the stock of which is beneficially owned by such Shareholder
Party, officers, directors and Persons in the aggregate), or (d) current or
former Affiliate of any of the foregoing, has any interest in or is a party to:
(i) any Contract with, or relating to the Seller, its business, the Assets or
the Assumed Liabilities; (ii) any loan for or relating to the Seller, its
business or the Assets; or (iii) any property (real, personal or mixed, tangible
or intangible) used or currently intended to be used by the Seller.

      Section 4.24 Customer and Supplier
Relations. Schedule 4.24 contains a true, correct and complete list
of the names and province of primary work location of the Customers and
Suppliers. The Seller maintains good commercial relations with each of its
Customers and Suppliers and, to the Knowledge of the Seller, no event has
occurred that could materially and adversely affect the Seller’s relations
with any such Customer or Supplier other than SABS or the Harmonized Sales Tax.
No Customer (or former Customer) or Supplier (or former Supplier) during the
prior twelve (12) months has provided notice that it has canceled, terminated
or, to the Knowledge of the Seller, made any threat to cancel or otherwise
terminate any of such Customer’s or Supplier’s Contracts with the
Seller or to decrease such Customer’s usage of the

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 Seller’s services or products or such Supplier’s supply of services or products to the Seller. The Seller has not received any notice and does not have any Knowledge to the effect that any current Customer or Supplier plans to terminate or materially alter its business relations with the Seller, either as a result of the transactions contemplated hereby or otherwise; provided, that, for greater certainty, normal course discussions regarding service or timing concerns or complaints shall not be deemed in and of themselves to be any such notice or Knowledge (provided that such discussions do not include an express statement of an intention by any current Customer or Supplier to terminate or materially alter its business relations with the Seller).

      Section 4.25 Licenses. Schedule 4.25 is a true, correct and complete list of all Licenses held by the Seller other than software licenses. The Seller owns or possesses all Licenses that are necessary to enable it to carry on its business as presently conducted. All Licenses are valid, binding and in full force and effect. The execution, delivery and performance of this Agreement by the Seller and the consummation of the transactions contemplated hereby shall not adversely affect any License. The Seller is in compliance with, and has taken all necessary action to maintain each License. No loss or expiration of any License is pending or, to the Knowledge of the Seller, threatened (other than expiration upon the end of any term). Schedule 4.25 identifies with an asterisk each License set forth therein which by its terms cannot be transferred to the Purchaser at Closing.

      Section 4.26 Dealings with Governmental Entities.

      (a) Except as set forth in Schedule
4.26, neither the Seller nor, the Knowledge of the Seller, any of its
representatives has offered or given, and the Seller does not have any Knowledge
of any Person that has offered or given on its behalf, anything of value to: (a)
any official of a Governmental Entity, any political party or official thereof
or any candidate for political office; (b) any customer or member of any
Governmental Entity; or (c) any other Person, in any such case while knowing or
having reason to know that all or a portion of such money or thing of value may
be offered, given or promised, directly or indirectly, to any customer or member
of any Governmental Entity or any candidate for political office for the purpose
of the following: (i) influencing any action or decision of such Person, in such
Person’s official capacity, including a decision to fail to perform such
Person’s official function; (ii) inducing such Person to use such
Person’s influence with any Governmental Entity to affect or influence any
act or decision of such Governmental Entity to assist the Seller in obtaining or
retaining business for, with, or directing business to, any Person; or (iii)
where such payment would constitute a bribe, kickback or illegal or improper
payment to assist the Seller in obtaining or retaining business for, with, or
directing business to, any Person.

      (b) To the Knowledge of the Seller, the Seller
(i) is not enrolled or authorized to receive any payments under a Government
Health Care Program, (ii) has not submitted any claims for payment to a
Government Health Care Program, and (iii) does not receive any payments from a
publicly funded health care program to which the Canada Health Act applies.

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      Section 4.27 Service Warranties. The Seller does not make any warranty or guaranty as to services provided by the Seller. All services provided by the Seller have been in all material respects in conformity with all applicable contractual commitments.

      Section 4.28 Solvency. The Seller has not stopped or suspended payment of its debts, become unable to pay its debts when due or otherwise become insolvent in any jurisdiction. The Seller is not the subject of any pending, rendered or threatened insolvency proceedings of any character. The Seller has not made an assignment for the benefit of creditors or taken any action with a view to or that would constitute a valid basis for the institution of any such insolvency proceedings.

      Section 4.29 Brokers, Finders and Investment Bankers. Neither the Seller, nor any officer, director or employee of the Seller, nor any Affiliate of the Seller, nor any Shareholder Party has employed any broker, finder or investment banker or incurred any liability for any investment banking fees, financial advisory fees, brokerage fees or finders’ fees in connection with the transactions contemplated hereby.

      Section 4.30 Investment Representations.

        (a) Market Conditions. The Seller is not acquiring shares of the Parent Stock with any present intention of distributing or selling such shares in violation of federal, state, provincial or other securities Laws. The Seller agrees that he or it will not sell, transfer, offer for sale, pledge, hypothecate or otherwise dispose of the shares of Parent Stock constituting a portion of the Purchase Price in violation of any federal, provincial, state or other securities Laws, including, without limitation, United States and Canadian securities Laws. Each of the Seller and the Shareholder Parties acknowledges that the Parent Stock is subject to market and other conditions beyond the control of the Purchaser Parties or any of their Affiliates.

        (b) Reliance upon Representations. The Seller and the Shareholder Parties understand that the Parent Stock is being offered and sold to it in reliance on specific exemptions from the prospectus and registration requirements of the Canadian securities Laws and United States federal securities Laws and that the Purchaser Parties are relying on the truth and accuracy of, and the Seller’s and Shareholder Parties’ compliance with, the representations, warranties, agreements, acknowledgments and understandings of the Seller and the Shareholder Parties set forth herein in order to determine the availability of such exemptions and the eligibility of the Seller and the Shareholder Parties to acquire the Parent Stock.

        (c) Accredited Investors. Each of the Shareholder Parties and the Seller are an “accredited investor” under Canadian securities Laws.

        (d) Restricted Securities. Each of the Seller and the Shareholder Parties understands that the Parent Stock to be received by the Seller pursuant to this Agreement may not be sold, transferred, or otherwise disposed of without compliance with Canadian and U.S. securities Laws (including relating to registration under the Securities Act or an exemption therefrom (including, without limitation, a gift of Parent Stock to a “Permitted

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   Transferee” (as such term is defined in the Stockholders’ Agreement) made in accordance with the terms thereof and with a registration exemption of the Securities Act) and/or the filing of a prospectus with Canadian securities regulators or an exemption therefrom). In the absence of an effective registration statement covering the Parent Stock, a prospectus filed with Canadian securities regulators or an available exemption, the Parent Stock must be held indefinitely. In particular, each of the Seller and Shareholder Parties is aware that the Parent Stock may not be sold pursuant to Rule 144 promulgated under the Securities Act unless all of the conditions of Rule 144 are met. Among the conditions for use of Rule 144 may be the availability of current information to the public about the Purchaser Parties.

        (e) Experience. The Seller can bear the economic risk of investment in securities which are not registered under the Securities Act, and has such knowledge and experience in financial and business matters that the Seller is capable of evaluating the merits and risks of an investment in the Parent Stock.

        (f) Access to Information. The Seller agrees and acknowledges that it has received or otherwise has had access to, and has had an opportunity to review, examine and ask questions relating to, such information regarding the Parent and its proposed business as it deems necessary for it to make an informed decision regarding the investment in the Parent.

      Section 4.31 Franchise. The Seller does not have any franchise-related Contracts or arrangements and does not operate the Business as a franchise.

 ARTICLE V 

  REPRESENTATIONS AND WARRANTIES OF THE SHAREHOLDER PARTIES

      Except as set forth in the Disclosure Schedules (such that a disclosure set forth in any section of the Disclosure Schedules numbered to correspond with any section of the Agreement shall be deemed to be that section only, unless otherwise specifically cross-referenced; provided, however that, the inclusion of any information in any Disclosure Schedule (or any update) shall not be deemed to be an acknowledgement, in and of itself, that such information is required to be disclosed, is material to the Seller and/or the Shareholder Parties, has resulted in or would result in a Material Adverse Effect or is outside the ordinary course of business), each Shareholder Party represents and warrants to the Purchaser Parties as follows of the date hereof and as of the Closing Date:

      Section 5.1 Authorization and Validity of Agreement. The Shareholder is a corporation duly incorporated and validly existing under the Laws of its jurisdiction of incorporation. The Founder is the sole shareholder of the Shareholder and has the exclusive right and authority to vote all of the shares of the Shareholder. The Founder has the legal right, power and capacity to execute and deliver this Agreement and the Seller Ancillary Documents to which he is a party and to perform his obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby applicable to him. This Agreement has been, and the Seller Ancillary Documents to which each Shareholder Party is a party shall be as of the

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 Closing Date, duly and validly executed and delivered by such Shareholder Party and does or shall, as the case may be, constitute the valid and binding agreements of the Shareholder Parties, enforceable against the Shareholder Parties in accordance with their respective terms.

      Section 5.2 Absence of Restrictions and
Conflicts. The execution, delivery and performance by the Shareholder
Parties of this Agreement and the Seller Ancillary Documents to which such
Shareholder Party is a party, the consummation of the transactions contemplated
hereby and thereby and the fulfillment of and compliance with the terms and
conditions hereof and thereof do not or shall not (as the case may be), with the
passing of time or the giving of notice or both, (a) violate or conflict with,
constitute a breach of or default under, result in the loss of any benefit
under, permit the acceleration of any obligation under or create in any party
the right to terminate, modify or cancel any Contract to which such Shareholder
Party is a party, (b) contravene or conflict with any judgment, decree or order
of any Governmental Entity to which such Shareholder Party is a party or by
which such Shareholder Party is bound, (c) contravene or conflict with any Law
(other than any Law relating to privacy in respect of the transfer, under this
Agreement, of records containing information without providing notice and/or
obtaining consent) or arbitration award applicable to any such Shareholder
Party, or (d), in the case of the Shareholder, violate or conflict with any term
or provision of the constating documents of the Shareholder.

      Section 5.3 Legal Proceedings. There are no suits, actions, claims, proceedings or investigations pending or, to the Knowledge of such Shareholder Party, threatened against, relating to or involving such Shareholder Party that could adversely affect such Shareholder Party’s ability to consummate the transactions contemplated by this Agreement.

      Section 5.4 Excluded Affiliate Debt. Schedule 5.4 sets forth a true, correct and complete list of Excluded Affiliate Debt as of June 24, 2010.

      Section 5.5 Tax Residence. Each of the Shareholder Parties is not a non-resident of Canada under the Income Tax Act (Canada).

 ARTICLE VI 

  REPRESENTATIONS AND WARRANTIES OF PURCHASER AND THE PARENT

      The Purchaser and the Parent hereby, jointly and severally, represent and warrant to the Seller and the Shareholder Parties (and acknowledge that the Seller and the Shareholder Parties are relying on the representations and warranties in completing the transactions contemplated hereby) as follows as of the date hereof and the Closing Date:

      Section 6.1 Organization. The Purchaser is a corporation duly incorporated and validly existing under the Laws of the Province of Ontario, the Parent is a corporation duly incorporated and validly existing under the Laws of the State of Delaware, and each of the Purchaser and the Parent has all requisite power and authority to own, lease and operate its properties and to carry on its business as now being conducted.

      Section 6.2 Authorization. Each of the Purchaser Parties has the full corporate power and authority to execute and deliver this Agreement and the Purchaser Ancillary Documents, to

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 perform its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The execution and delivery of this Agreement and the Purchaser Ancillary Documents by the Purchaser Parties, the performance by the Purchaser Parties of their obligations hereunder and thereunder, and the consummation of the transactions provided for herein and therein have been duly and validly authorized by all necessary corporate action on the part of the Purchaser Parties. This Agreement has been and the Purchaser Ancillary Documents shall be as of the Closing Date, duly and validly executed and delivered by the Purchaser Parties and do or shall, as the case may be, constitute the valid and binding agreements of the Purchaser Parties, enforceable against the Purchaser Parties in accordance with their respective terms.

      Section 6.3 Absence of Restrictions and
Conflicts. The execution, delivery and performance by each of the Purchaser
Parties of this Agreement and the Purchaser Ancillary Documents, the
consummation of the transactions contemplated hereby and thereby and the
fulfillment of, and compliance with, the terms and conditions hereof and thereof
do not or shall not (as the case may be), with the passing of time or the giving
of notice or both, (a) contravene or conflict with any term or provision of the
constating documents of the Purchaser or the certificate of incorporation and
bylaws of the Parent, (b) except to the extent the consent of the Administrative
Agent and Lenders is required under the Loan Agreement, which consent shall be
obtained by the Parent at or prior to the Closing, violate or conflict with,
constitute a breach of or default under, result in the loss of any benefit
under, permit the acceleration of any obligation under or create in any party
the right to terminate, modify or cancel any Contract to which each of the
Purchaser Parties is a party, (c) contravene or conflict with any judgment,
decree or order of any Governmental Entity to which each of the Purchaser
Parties is a party or by which each of the Purchaser Parties is bound or (d)
contravene or conflict with any Law or arbitration award applicable to each of
the Purchaser Parties. No consent, approval, order or authorization of, or
registration, declaration or filing with, any Governmental Entity is required
with respect to each of the Purchaser Parties in connection with the execution,
delivery or performance of this Agreement or the Purchaser Ancillary Documents
or the consummation of the transactions contemplated hereby or thereby.

      Section 6.4 Capitalization of the Parent. The authorized and issued share capital of the Parent as of the date of this Agreement and as of the time of the Closing is as set out in Exhibit 6.4. All of such shares have been duly authorized and validly issued.

      Section 6.5 Issuance of Shares. Upon issuance in accordance with the terms and conditions of this Agreement, all of the Parent Stock to be issued as part of the Purchase Price in connection with this Agreement shall duly authorized and validly issued as fully paid and non-assessable shares in the capital of the Parent, shall not have been issued in violation of any preemptive or similar right or any agreement or understanding binding on the Parent and shall have been issued in compliance with the Delaware General Corporation Law, all applicable securities Laws and the charter documents of the Parent.

      Section 6.6 Disclosure. Subject to the qualifications, important risk factors and notices included therein, the Confidential Private Placement Memorandum of ExamWorks US dated February 22, 2010 as supplemented by that certain First Supplement to Confidential

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 Private Placement Memorandum dated March 10, 2010 caused to be furnished by the Purchaser or the Parent to the Shareholder Parties or the Seller for due diligence purposes (the “PPM”) does not contain any untrue statement of material fact, or omit to state any material fact necessary, in light of the circumstances under which it was made, in order to make the statements herein or therein not misleading.

      Section 6.7 ExamWorks Financial
Statements. Schedule 6.7 contains true, correct and complete copies
of the ExamWorks Financial Statements. The ExamWorks Financial Statements are in
conformity with U.S. GAAP using the accrual method of accounting consistently
applied (except as may be indicated in the notes thereto and except that the
unaudited ExamWorks Financial Statements are subject to normal, customary
year-end and audit adjustments and may not contain notes required by GAAP), and
have been prepared from, and are in accordance with, the books and records of
ExamWorks US, which books and records have been maintained on a basis consistent
with the past practices of ExamWorks US. Each balance sheet included in the
ExamWorks Financial Statements (including any related notes and schedules) is
true, correct and complete and fairly presents the financial position of
ExamWorks US as of the date of such balance sheet, and each statement of
operations and cash flows included in the ExamWorks Financial Statements
(including any related notes and schedules) is true, correct and complete and
fairly presents the results of operations and changes in cash flows, as the case
may be, of ExamWorks US for the periods set forth therein. Since March 31, 2010,
there has been no change in any accounting (or tax accounting) policy, practice
or procedure of Parent or ExamWorks US. Each of Parent and ExamWorks US
maintains accurate books and records reflecting its assets, liabilities,
revenues and expenses and maintains proper and adequate internal accounting
controls which provide assurance that (i) transactions are executed in
accordance with management’s authorization, (ii) transactions are recorded
as necessary to permit preparation of financial statements in conformity with
U.S. GAAP using the accrual method of accounting consistently applied, and (iii)
accounts, notes and other receivables are recorded accurately.

      Section 6.8 GST Number. The Purchaser is registered for purposes of the Excise Tax Act (Canada) and its GST registration number is 830990891RT0001.

      Section 6.9 Brokers, Finders and Investment Bankers. Neither the Purchaser nor the Parent, nor any officer, director or employee of the Purchaser or the Parent, nor any Affiliate of the Purchaser or the Parent has employed any broker, finder or investment banker or incurred any liability for any investment banking fees, financial advisory fees, brokerage fees or finders’ fees in connection with the transactions contemplated hereby.

      Section 6.10 Legal Proceedings. There are no suits, actions, claims, proceedings or investigations pending or, to the knowledge of each of the Purchaser and the Parent, threatened against, relating to or involving a Purchaser Party that could adversely affect the ability of the Purchaser Parties to consummate the transactions contemplated by this Agreement.

      Section 6.11 Parent Stockholders’ Agreement. Other than the stockholders’ agreement dated as of July 14, 2008 in respect of the Parent, as amended pursuant to an amendment dated December 4, 2009 and a second amendment dated March 12, 2010 (collectively, the “Parent

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 Stockholders’ Agreement”), and the Investor Rights Agreement dated March 10, 2010, between the Parent and the holders of Series A Preferred Stock of the Parent listed on the signature pages thereto, there are no securityholder agreements, voting trust agreements or the like between the Parent and any of the securityholders of the Parent (including, without limitation, any further amendments, modifications, addendums and supplements thereto or otherwise in respect thereof). The Purchaser and the Parent have delivered to the Seller true, correct and complete copies of the Parent Stockholders’ Agreement, including all amendments, modifications, addendums and supplements thereto or otherwise in respect thereof.

 ARTICLE VII 

  CERTAIN COVENANTS AND AGREEMENTS

      Section 7.1 Conduct of Business by the Seller. For the period commencing on the date hereof and ending on the first to occur of the Closing Date or the Termination Date, the Seller shall (and the Shareholder Parties will cause the Seller to), except as expressly required hereby, except in the ordinary course of business consistent with past practices or except as otherwise consented to in advance in writing by the Purchaser:

        (a) use its commercially reasonable efforts to preserve intact the goodwill and business organization of the Seller, keep the officers, directors, employees and independent contractors of the Seller available to the Purchaser and preserve the relationships and goodwill of the Seller with customers, distributors, suppliers, employees, and contractors (including, without limitation, physicians, examiners, and medical assistants) and other Persons having business relations with the Seller;

        (b) maintain its existence and good standing in its jurisdiction of organization and in each jurisdiction listed on Schedule 4.1(a);

        (c) comply with all applicable Laws;

        (d) maintain in existing condition and repair (ordinary wear and tear excepted), consistent with past practices, all buildings, offices, shops and other structures located on the Leased Real Property, and all equipment, fixtures and other tangible personal property located on the Leased Real Property;

        (e) not authorize for issuance or issue and deliver any additional shares of its capital stock or securities convertible into or exchangeable for shares of its capital stock, or issue or grant any right, option or other commitment for the issuance of shares of its capital stock or of such securities, or split, combine or reclassify any shares of its capital stock;

        (f) not amend or modify its articles or bylaws;

        (g) not declare any dividend, pay or set aside for payment any dividend or other distribution or make any payment to any Shareholder Party, an officer or director or any Person with whom any such Shareholder Party, officer or director has any direct or indirect relation, other than the payment of salaries in the ordinary course of business and

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   consistent with past practices; provided, that, notwithstanding the foregoing, the Seller may make such payments or distributions to the extent such payments or distributions do not reduce the amount of cash to below $50,000 at Closing;

        (h) not create any subsidiary, acquire any capital stock or other equity securities of any Person or acquire any equity or ownership interest in any Person;

        (i) not dispose of or permit to lapse any ownership and/or right to the use of any material patent, trademark, trade name, service mark, license or copyright of the Seller (including any of the Seller Intellectual Property), or dispose of or disclose to any Person, any material Confidential Information;

        (j) protect, defend and maintain the ownership, validity and registration of the Seller Intellectual Property, and not allow any of the Registered Intellectual Property to be abandoned, forfeited, cancelled, expunged and/or dedicated to the public;

      (k) not (i) create, incur or assume any
indebtedness secured by the Assets, (ii) grant, create, incur or suffer to exist
any Lien on the Assets that did not exist on the date hereof, (iii) write-down
the value of any asset or investment (including any Asset) on the books or
records of the Seller, except for depreciation and amortization in the ordinary
course of business and consistent with past practices, (iv) cancel any debt or
waive any claim or right, (v) make any commitment for any capital expenditure to
be made on or following the date hereof in excess of $10,000 in the case of
any single expenditure or $50,000 in the case of all capital expenditures,
(vi) enter into any Contract which cannot be cancelled by the Seller on notice
of not longer than thirty (30) days and without liability or penalty of any
kind, (vii) enter into any Contract which imposes, or purports to impose, any
obligations or restrictions on any of its Affiliates, or (viii) settle or
compromise any legal proceedings related to or in connection with the
Seller’s business;

        (l) not (i) increase in any manner the compensation of, or enter into any new bonus or incentive agreement or arrangement with, any of its employees, officers, directors or consultants, (ii) pay or agree to pay any additional pension, retirement allowance or other employee benefit under any Seller Benefit Plan to any of its employees or consultants, whether past or present, except, in case of each of (i) and (ii), in the ordinary course of business to the extent consistent with past practices of the Seller;

        (m) not adopt, amend or terminate any Seller Benefit Plan or increase the benefits provided under any Seller Benefit Plan, or promise or commit to undertake any of the foregoing in the future;

        (n) not enter into a collective bargaining agreement;

        (o) not enter into any Employment Agreement, other than any Employment Agreement entered into under Section 7.1(l);

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        (p) not enter into any Medical Consulting Agreement except in the ordinary course of business consistent with past practices, on terms reasonably satisfactory to the Purchaser;

        (q) perform in all material respects all of its obligations under all Assumed Contracts (including, without limitation, the Leases) and Licenses, and not default or suffer to exist any event or condition that with notice or lapse of time or both would constitute a default under any Assumed Contract or License (except those being contested in good faith);

        (r) not renew, terminate or extend, or materially amend or otherwise modify, or waive any right under, any Assumed Contract;

        (s) not acquire any interest, directly or indirectly, in any real property;

        (t) not increase any reserves for contingent liabilities (excluding any adjustment to bad debt reserves in the ordinary course of business consistent with past practices);

        (u) maintain in full force and effect and in the same amounts policies of insurance comparable in amount and scope of coverage to that maintained as of the date hereof by or on behalf of the Seller;

        (v) continue to maintain its books and records in accordance with past practice, and not make any material change in any of its accounting (or tax accounting) policies, practices or procedures, except as may be required as a result of any change in Law or accounting practice in Canada;

        (w) subject to Section 7.1(g), continue its current cash practices in the ordinary course of business consistent with past practices;

        (x) not dispose of, expunge, modify, destroy, transfer, or otherwise damage the Confidential Information, Intellectual Property, another data or information relating to or concerning the Seller’s Customers and Suppliers; and

        (y) not authorize, or commit or agree to take, any of the foregoing actions.

      Section 7.2 Inspection and Access to Information. During the period commencing on the date hereof and ending on the Closing Date, the Seller shall (and shall cause its officers, directors, employees, auditors and agents to) provide the Purchaser and its accountants, investment bankers, counsel and other authorized representatives full access, during reasonable hours and under reasonable circumstances, to any and all of its premises, key employees (as determined by the Seller in its sole discretion), properties, Contracts, commitments, books, records and other information (including Tax Returns filed and those in preparation) and shall cause its officers to furnish to the Purchaser and its authorized representatives, promptly upon request therefor, any and all financial, technical and operating data and other information

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 pertaining to the Seller and its business and otherwise fully cooperate with the conduct of due diligence by the Purchaser and its representatives.

      Section 7.3 Notices of Certain Events.
Each Party shall give prompt notice to the other Party of any of the following
which occurs, or of which it becomes aware, following the date hereof: (a) any
notice of, or other communication relating to, a default or event that, with
notice or lapse of time or both, would become a default under any material
Contract disclosed (or required to be disclosed) in any Disclosure
Schedule to this Agreement; (b) the occurrence or existence of any fact,
circumstance or event which would reasonably be expected to result in (i) any
representation or warranty made by such Party in this Agreement or in any
Disclosure Schedule, Exhibit or certificate delivered herewith, to
be untrue or inaccurate in any material respect or (ii) the failure of any
condition precedent to either party’s obligations; and (c) any notice or
other communication from any third Person alleging that the consent of such
third Person is or may be required in connection with the transactions
contemplated by this Agreement.

      Section 7.4 No Solicitation of
Transactions. Until the earlier of June 30, 2010 or the termination of this
Agreement pursuant to Article XI, neither the Seller nor any Shareholder
Party shall, directly or indirectly, through any officer, director or agent of
any of them or otherwise, initiate, solicit or encourage (including by way of
furnishing non-public information or assistance), or enter into negotiations of
any type, directly or indirectly, or enter into a confidentiality agreement,
letter of intent or other similar Contract with any Person other than the
Purchaser Parties and their respective officers, directors, employees, advisors,
agents and representatives with respect to a sale of all or any substantial
portion of the Assets, or a merger, consolidation, business combination, sale of
all or any substantial portion of the capital stock of the Seller, or the
liquidation or similar transaction with respect to the Seller (an
“Acquisition Transaction”). The Seller and the Shareholder
Parties shall, and shall cause each of their officers, directors and agents to,
immediately discontinue any ongoing discussions or negotiations with any Person
(other than the Purchaser) relating to a possible Acquisition Transaction. The
Seller shall notify the Purchaser orally (within two (2) Business Days) and in
writing (as promptly as practicable) of all relevant terms of any inquiry or
proposal by a third party to do any of the foregoing that the Seller or the
Shareholder Parties or any of their respective officers, partners, directors,
employees, investment bankers, financial advisors, attorneys, accountants or
other representatives may receive relating to any of such matters. In the event
such inquiry or proposal is in writing, the Seller shall deliver to the
Purchaser a copy of such inquiry or proposal together with such written
notice.

      Section 7.5 Reasonable Efforts; Further
Assurances; Cooperation. Subject to the other provisions hereof, each Party
shall use its commercially reasonable, good faith efforts to perform its
obligations hereunder and to take, or cause to be taken, and do, or cause to be
done, all things necessary, proper or advisable under applicable Law (other than
any Law relating to privacy in respect of the transfer, under this Agreement, of
records containing information without providing notice and/or obtaining
consent) to cause the transactions contemplated herein to be effected as soon as
practicable, but in any event on or prior to the Expiration Date, in accordance
with the terms hereof and shall cooperate fully with each other Party and its
officers, directors,

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 employees, agents, managers, counsel, accountants and other designees in connection with any step required to be taken as a part of its obligations hereunder, including the following:

        (a) Each Party shall promptly notify the other Party of (and provide written copies of) any communications from or with any Governmental Entity in connection with the transactions contemplated hereby;

        (b) In the event any claim, action, suit, investigation or other proceeding by any Governmental Entity or other Person is commenced that questions the validity or legality of the transactions contemplated hereby or seeks damages in connection therewith, the Parties shall (i) cooperate and use all reasonable efforts to defend against such claim, action, suit, investigation or other proceeding, (ii) in the event an injunction or other order is issued in any such action, suit or other proceeding, use all reasonable efforts to have such injunction or other order lifted, and (iii) cooperate reasonably regarding any other impediment to the consummation of the transactions contemplated hereby; and

        (c) The Seller shall give all notices required by written agreement or applicable Law (other than any Law relating to privacy in respect of the transfer, under this Agreement, of records containing information without providing notice and/or obtaining consent) to be given to third parties and shall obtain all third-party consents (i) necessary to consummate the transactions contemplated hereby, (ii) required to be given or obtained, including the Required Consents or (iii) required to prevent a Material Adverse Effect, whether prior to, on or following the Closing Date.

      Section 7.6 Guarantee. The Parent unconditionally and irrevocably guarantees to and in favour of the Seller and Shareholder Parties the full and complete performance by the Purchaser of each and every one of the Purchaser’s obligations hereunder. The Seller and the Shareholder Parties shall not be obligated to exhaust their remedies against the Purchaser as a condition precedent to being entitled to demand performance of this guarantee.

      Section 7.7 Public Announcements.
Subject to its legal obligations, prior to the Closing, each Party shall consult
with the other Parties with respect to the timing and content of all
announcements regarding this Agreement or the transactions contemplated hereby
to the financial community, Governmental Entities, employees, customers or the
general public and shall use reasonable efforts to agree upon the text of any
such announcement prior to its release. Neither the Seller or the Shareholder
Parties, on the one hand, nor the Purchaser or the Parent, on the other hand,
shall, nor shall any of their respective Affiliates, agents, employees, officers
and directors, without the prior written consent of the other Party, disclose or
permit to be disclosed to anyone any information relating to the terms of this
Agreement. This Section 7.7 does not prohibit disclosure to the
professional advisors, bankers and employees of either Party who need to know
such information for the purpose of advising either Party (it being understood
that such advisor, banker and employee will be informed of the confidential
nature of this Agreement and the terms of this Agreement and will be directed to
treat such information as confidential in accordance with the terms of this
Agreement), or to the extent necessary to authorize the purchase and sale of the
Assets pursuant to this Agreement, or as may be required by any Law.

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      Section 7.8 Employee Matters.

        (a) Transferred Employees.

  

      (i) The Purchaser hereby agrees to offer
employment, subject to completion of the Closing and effective as of the day
after the Closing Date, to each employee actively employed in the Business by
the Seller on the Closing Date other than those employees set forth on
Exhibit 7.8(a), (a) at a base salary or base hourly wage that is not less
than that which each such employee was receiving immediately prior to the
Closing Date, and (b) on terms and conditions and with benefits that are, in the
aggregate, substantially similar to (but in any event not less than) those of
the Employee Benefit Plans in effect on the Closing Date. Each such employee who
is offered and accepts employment and commences employment with the Purchaser
effective the Closing Date pursuant to this Agreement, is referred to herein as
a “Transferred Employee”. The Purchaser shall recognize the
past service of Transferred Employees with the Seller for all employment,
labour, pension and benefit law purposes following the Closing Date, including
for the purposes of any notice of termination, termination pay or severance pay
required by contract, statute or common law, but excluding for the purpose of
accrual of benefits. The Purchaser will make offers of employment to the
employees identified on Schedule 4.17 as inactive, if any, when such
employees are ready and able to return to work if they are ready and able to
return to work within two years of the Closing Date, in which case such offers
will be on terms and conditions consistent with this Agreement.

          (ii) All Transferred Employees shall cease to actively participate in, be covered by or accrue benefits under the Employee Benefit Plans as of the Closing Date. Prior to the Closing Date, Seller shall take or cause to be taken all necessary actions, as required to terminate the participation of the Transferred Employees in the Employee Benefit Plans, effective as of the Closing Date. Except as otherwise provided in this Section, neither the Purchaser nor any of its Affiliates shall adopt, become a sponsoring employer of, or have any obligation or liability under any of the Employee Benefit Plans.

          (iii) Commencing immediately on the date following the Closing, the Purchaser shall cause the Transferred Employees to be eligible to participate in and to be covered by or accrue benefits under employee benefit plans of Purchaser (“Purchaser’s Plans”). The Purchaser shall cause the Purchaser’s Plans that cover the Transferred Employees or any of their dependents or beneficiaries to treat the employment and service of the Transferred Employees with Seller through the Closing Date as employment and service with Purchaser and its Affiliates for eligibility and vesting but not for the purposes of accrual purposes under Purchaser’s Plans.

          (iv) Any eligible claims for benefits incurred by a Transferred Employee on or before the Closing Date, provided that such employee or his or

  

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     her dependent or beneficiary, if applicable, was participating in an applicable Employee Benefit Plan on the date the claim was incurred, will be eligible for payment under the Employee Benefit Plan in accordance with Sections 7.8(a)(vi) and (vii) below, and Seller will be liable to Purchaser and will defend, indemnify and hold Purchaser harmless against any and all loss, liability or expense arising out of any such claims.

          (v) Any eligible claims for benefits incurred by a Transferred Employee after the Closing Date, provided that such employee or his or her dependent or beneficiary, if applicable, was participating in the applicable Purchaser’s Plan on the date the claim was incurred, will be eligible for payment under Purchaser’s Plans in accordance with Sections 7.8(a)(vi) and (vii) below, and Purchaser will be liable to Seller and will defend, indemnify and hold harmless Seller against any and all loss, liability or expense arising out of such claims.

          (vi) For the purposes of Sections 7.8(a)(iv) and (v) above, a claim for benefits will be deemed to have been incurred, whether or not reported: (A) with respect to death or dismemberment, on the actual date of death or of dismemberment; (B) with respect to short-term and long-term disability, on the date the claimant became disabled as determined in accordance with the applicable plan; and (C) with respect to all medical, dental or vision claims, on the date a service or supply giving rise to the claim under the applicable benefit plan is purchased or received by the claimant or his/her eligible dependent.

      (vii) For the purpose of Sections
7.8(a)(iv) and (v) above, where a claim includes more than one
service or supply, each of which occurs at a single point in time (for example,
a series of dental appointments related to a treatment plan), each such service
or supply will result in a separate claim incurred as of the date on which the
supply or service is purchased or received as aforesaid. If sufficient
information is not available to identify charges associated with each claim (but
is sufficient for payment of the claims in the ordinary course of claims
adjudication), the total charges will be pro rated over the number of claims and
reimbursed subject to the terms and conditions of the applicable plan.
Notwithstanding the foregoing, should a Transferred Employee have been receiving
long-term disability benefits at Seller prior to the Closing Date and suffer a
recurrence of the same illness or injury, such recurrence shall, if covered by
the Seller’s disability insurance plan, be dealt with in accordance with
such Seller’s disability insurance plan.

  

        (b) Information. The Seller shall provide the Purchaser all information relating to each employee of the Seller as the Purchaser may reasonably require in connection with its employment or engagement of such individuals, including initial employment dates, termination dates, reemployment dates, hours of service, compensation and tax withholding history in a form that shall be usable by the Purchaser and such information shall be true, correct and complete in all respects.

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        (c) Seller Benefit Plans.

  
          (i) Prior to the Closing Date, the Seller shall make, or cause to be made, all contributions and pay all premiums under each Seller Benefit Plan on behalf of employees with respect to periods ending on or prior to the Closing Date, except the types of personnel-related accrued expenses that are reflected on Exhibit 1.1 hereto, which if accrued and not paid shall be included in the Final Working Capital Schedule.

          (ii) Except for amounts set forth in the Final Working Capital Schedule and assumed by the Purchaser as Assumed Liabilities, the Seller shall be solely responsible for all liabilities based upon, arising out of or relating to the Seller Benefit Plans, whether asserted prior to, on or after the Closing. The Purchaser or one of its Affiliates shall be solely responsible for all liabilities based upon, arising out of or relating to the Employee Benefit Plans of the Purchaser or its Affiliates, as applicable, or the employment of the Transferred Employees by the Purchaser or its Affiliates, as applicable, after such Transferred Employee first becomes a Transferred Employee.

  

        (d) Severance Costs. All Severance Costs shall be treated as Closing Date Indebtedness and shall be set forth in detail in the Closing Date Indebtedness Statement. The Seller shall administratively effect the timely payment of all Severance Costs to the employees in accordance with its human resource policies and applicable Laws.

        (e) Communications. Neither the Shareholder Parties nor the Seller nor any officer, director, employee, agent or representative of the Seller shall make any communication to employees of the Seller regarding any of Purchaser’s Plans or any compensation or benefits to be provided after the Closing Date without the advance approval of the Purchaser, which approval will not be unreasonably withheld or delayed.

      Section 7.9 Transfer Taxes and Fees; Expenses. Any transfer Taxes or recording fees payable as a result of the purchase and sale of the Assets or any other action contemplated hereby (other than any federal, state, local or foreign Taxes measured by or based upon income or gains imposed upon the Purchaser) shall be paid by the Purchaser. The Parties shall cooperate in the preparation, execution and filing of all returns, questionnaires, applications and other documents regarding Taxes and all transfer, recording, registration and other fees that become payable in connection with the transactions contemplated hereby that are required or permitted to be filed at or prior to the Closing. Any fees incurred in obtaining Required Consents or in otherwise satisfying the Seller’s or Shareholder Parties’ closing conditions shall be borne by the Seller and the Shareholder Parties.

      Section 7.10 Insurance. If requested by the Purchaser, the Seller and the Shareholder Parties shall in good faith cooperate with the Purchaser and take all actions (at the sole cost and expense of the Purchaser) reasonably requested by the Purchaser that are necessary or desirable to permit the Purchaser to have available to it following the Closing the benefits (whether direct

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 or indirect) of the policies of insurance maintained by or on behalf of the Seller that are currently in force.

      Section 7.11 Confidentiality. From and after the Closing, each of the Seller and the Shareholder Parties shall keep confidential all Confidential Information.

      Section 7.12 Non-Solicitation.

      (a) Nonsolicitation. Neither the Seller
nor any Shareholder Party shall, during the Noncompete Period, in any manner,
directly, indirectly, individually, in partnership, jointly or in conjunction
with any Person, (i) (x) recruit or solicit or attempt to recruit or solicit, on
any of their behalves or on behalf of any other Person, any Transferred
Employee, (y) encourage any Person (other than the Purchaser or one of its
Affiliates) to recruit or solicit any Transferred Employee, or (z) otherwise
encourage any Transferred Employee to discontinue his or her employment by the
Purchaser or one of its Affiliates, (ii) solicit any customer of the Purchaser
who is or has been a customer of the Seller on or prior to the Closing Date
(including, without limitation, any Customer) for the purpose of providing,
distributing or selling products or services similar to those sold or provided
by the Seller or the Purchaser or (iii) persuade or attempt to persuade any
customer or supplier of the Purchaser (or any of its Affiliates conducting
business substantially similar to the business of the Purchaser in the
Territory) to terminate or modify such customer’s or supplier’s
relationship with the Purchaser (or any of its Affiliates conducting business
substantially similar to the business of the Purchaser in the Territory).

      (b) Referrals. During the Noncompete
Period, if and when any Person contacts the Seller or any Shareholder Party with
respect to any aspect of the Business, including, without limitation, inquiries
or requests from customers or potential customers with respect to the
performance of independent medical examinations, record reviews, expert
testimony or other services performed by the Business as of the Closing Date
(and, for greater certainty, not related to the Founder’s right to engage
in the Practice of Medicine), whether by web contact, phone, email, facsimile,
main or otherwise, the Seller and the Shareholder Party shall immediately refer
any such Person to the Purchaser, shall notify the Purchaser of such contact,
and shall provide the Purchaser with any and all information that the Seller and
the Shareholder Parties have received from and regarding such Person. Each of
the Seller and the Shareholder Parties further agrees not to disparage the
Purchaser Parties in any manner.

      (c) Severability. In the event a
judicial or arbitral determination is made that any provision of this Section
7.12 constitutes an unreasonable or otherwise unenforceable restriction
against the Seller or any Shareholder Party, the provisions of this Section
7.12 shall be rendered void only to the extent that such judicial or
arbitral determination finds such provisions to be unreasonable or otherwise
unenforceable with respect to the Seller or such Shareholder party. In this
regard, any judicial authority construing this Agreement shall be empowered to
sever any portion of the Territory, any prohibited business activity or any time
period from the coverage of this Section 7.12 and to apply

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   the provisions of this Section 7.12 to the remaining portion of the Territory, the remaining business activities and the remaining time period not so severed by such judicial or arbitral authority. Moreover, notwithstanding the fact that any provisions of this Section 7.12 is determined not to be specifically enforceable, the Purchaser shall nevertheless be entitled to recover monetary damages as a result of the breach of such provision by the Seller or a Shareholder Party. The time period during which the prohibitions set forth in this Section 7.12 shall apply shall be tolled and suspended for a period equal to the aggregate time during which the Seller or a Shareholder Party violates such prohibitions in any respect.

        (d) Injunctive Relief. Any remedy at law for any breach of the provisions contained in this Section 7.12 may be inadequate and the Purchaser shall be entitled to seek injunctive relief in addition to any other remedy the Purchaser might have hereunder.

      Section 7.13 Name Change. Within five (5) Business Days following the Closing Date, the Seller shall change its company name to remove any reference to the name “SOMA”, “SOMA Medical Assessments” or any other name used by the Seller in the conduct or operation of its business. As promptly as practicable following the Closing, the Seller shall file in all jurisdictions in which it is qualified to do business all documents necessary to reflect such change of name or to terminate its qualification therein. In connection with enabling the Purchaser, at or as soon as practicable following the Closing, to use the current company name of the Seller, the Seller shall, at or prior to the Closing, execute and deliver to the Purchaser all consents related to such change of name as may be requested by the Purchaser, and shall otherwise cooperate with the Purchaser.

      Section 7.14 Customer and Employee
Visits. During the period commencing on the date hereof and ending on the
Closing Date, and subject to reasonable limitations agreed to among the Seller,
the Shareholder Parties and the Purchaser prior to any discussion or meeting,
the Seller and the Shareholder Parties shall permit the Purchaser to discuss and
meet, and shall cooperate in such discussions and meetings, with any of the key
employees of the Seller (as determined by the Seller in its sole discretion),
and any three (3) Customers of the Seller that the Purchaser so requests. A
senior executive of the Seller, reasonably satisfactory to the Purchaser, shall
have the right to accompany the Purchaser’s representative to any such
meeting and shall participate with the Purchaser’s representative in any
such discussions. All costs relating to the actions described in this Section
7.14 shall be borne solely by the Purchaser. The Seller shall promptly
notify the Purchaser if a commercial relationship and/or agreement it has with a
customer terminates during the period commencing on the date hereof and ending
on the Closing Date.

      Section 7.15 Accounts and Notes Receivable.

        (a) The Seller shall cause all notes and accounts receivable and payable of the Seller owing by or to a Shareholder Party or any director, officer, employee or Affiliate of the Seller existing as of the Closing other than Excluded Affiliate Debt (each, an “Affiliate Loan”) to be paid in full prior to the Closing.

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        (b) From and after the Closing, if the Seller or the Shareholder or a Shareholder Party receives or collects any Receivables, the Seller or such Shareholder Party, as applicable, shall remit any such amounts to the Purchaser within five (5) days of each day on which the Seller or such Shareholder Party, as applicable, receives such sum.

        (c) The Purchaser shall use commercially reasonable efforts, consistent in all material respects with the past practices of the Seller, to collect all Receivables; provided that the Purchaser shall have no obligation under this Agreement to initiate litigation or other collection outside the ordinary course of business.

      Section 7.16 Risk of Loss; Casualty.
The risk of loss (other than the risk of SABS-related Losses) with respect to
the Assets shall remain with the Seller until the Closing. In the event of any
loss (other than SABS-related Losses), damage, or destruction to the Assets
(including the Leased Real Property or the improvements thereon), resulting in
losses of $50,000 or greater, after the date hereof and prior to the
Closing, whether by fire, theft, vandalism, terrorism, flood, earthquake, force
majeure or other cause or casualty (a “Casualty”), the Seller
shall promptly notify the Purchaser of the occurrence thereof. Upon receipt of
such notice, the Purchaser shall have the right to terminate this Agreement in
accordance with the provisions of Section 11.1(d). In the event of such
Casualty, if the Purchaser chooses not to terminate the Agreement, at the
Seller’s option, the Seller shall have the right to (i) repair and restore
the loss, damage or destruction before or after the Closing, in which event (a)
the Seller shall cause the Assets to be restored to substantially the condition
in which they existed immediately prior to the Casualty, (b) the Seller shall be
entitled, but not obligated, to postpone the Closing for up to thirty (30)
Business Days upon written notice of such postponement to the Purchaser, which
notice shall specify a new date for the Closing, and (c) if such repair and
restoration work is not completed at Closing, the Purchaser shall have the right
to withhold that portion of the Purchase Price equal to the estimated cost of
repair and restoration for such Assets, which shall be paid to the Seller
promptly upon completion of the repair and restoration work, or (ii) without
repairing the Casualty, and without recourse or warranty, assign to the
Purchaser at the Closing all of the Seller’s right, title and interest, if
any, in and to all insurance proceeds payable with respect to the Casualty, and
pay the Purchaser the amount of the deductible (or the self-insured retainage)
under the Seller’s insurance policy covering the Assets, whereupon the
Closing shall take place as if no Casualty had occurred and without any
reduction in the Purchase Price.

      Section 7.17 Release.

        (a) In consideration for the Purchase Price, as of and following the Closing Date, the Seller and each Shareholder Party each knowingly, voluntarily and unconditionally releases, forever discharges, and covenants not to sue the Purchaser and its Affiliates from or for any and all claims, causes of action, demands, suits, debts, obligations, liabilities, damages, losses, costs and expenses (including attorneys’ fees) of every kind or nature whatsoever, known or unknown, actual or potential, suspected or unsuspected, fixed or contingent, that the Seller or such Shareholder Party has or may have, now or in the future, arising out of, relating to, or resulting from any act or omission, error, negligence, breach of contract, tort, violation of law, matter or cause whatsoever from the beginning of time to the Closing Date; provided, however, that the

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   foregoing release shall not apply to any claims arising out of this Agreement, the Purchaser Ancillary Documents or the Seller Ancillary Documents, or any fraud or willful misconduct leading to the execution of the foregoing documents.

      (b) As of and following the Closing Date, the
Parent and the Purchaser each knowingly, voluntarily and unconditionally
releases, forever discharges, and covenants not to sue the Seller and the
Shareholder Parties and their Affiliates from or for any and all claims, causes
of action, demands, suits, debts, obligations, liabilities, damages, losses,
costs and expenses (including attorneys’ fees) of every kind or nature
whatsoever, known or unknown, actual or potential, suspected or unsuspected,
fixed or contingent, that the Purchaser or Parent has or may have, now or in the
future, arising out of, relating to, or resulting from any act or omission,
error, negligence, breach of contract, tort, violation of law, matter or cause
whatsoever from the beginning of time to the Closing Date; provided, however,
that the foregoing release shall not apply to any claims arising out of this
Agreement, the Purchaser Ancillary Documents or the Seller Ancillary Documents,
or any fraud or willful misconduct leading to the execution of the foregoing
documents.

      Section 7.18 Dissolution of the Seller. Effective upon the time of any dissolution of the Seller, the Shareholder Parties hereby jointly and severally assume and agree to assume all of the obligations, liabilities and agreements of the Seller in this Agreement and the Seller Ancillary Documents; provided that no such assignment or assumption shall relieve the Seller from any of its obligations, liabilities or agreements under this Agreement or any such Seller Ancillary Document.

      Section 7.19 Terminated Contracts. Effective on the Closing, the Seller and the Shareholder Parties shall cause each of the Contracts set forth on Exhibit 7.19 to be terminated, such that the Purchaser shall not have any liability related to such Contracts from and after the Closing.

      Section 7.20 Preservation of Records and
Books. The Purchaser shall take all reasonable steps to preserve and keep
the records and books of the Seller and/or the Shareholder Parties delivered to
it in connection with the completion of the transactions contemplated by this
Agreement for a period of six years from the Closing Date, or for any longer
period as may be required by any Laws or any Governmental Entity. With respect
to such books and records pertaining to any Excluded Assets or Excluded
Liabilities, the Seller may retain copies of such books and records, and the
Purchaser shall make such books and records promptly available to the Seller and
the Shareholder Parties (including the right to make, at the Seller’s
expense copies) as may be requested by them, him or it. With respect to all
other such books and records, the Purchaser shall make such books and records
reasonably available to the Seller and the Shareholder Parties to the extent
reasonably required by them to wind down the Seller’s business, to conduct
necessary audits, and to comply with applicable Laws. Additionally, the
Purchaser shall make available the records and books of the Seller and the
Shareholder Parties to the Seller, the Shareholder Parties and their respective
representatives as set out in Section 3.4(c) and Section
3.5(c).

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      Section 7.21 Election Pursuant to Excise Tax Act (Canada). The Purchaser and the Seller agree to jointly elect that no tax be payable pursuant to the Excise Tax Act (Canada) with respect to the sale under this Agreement. The Purchaser will file an election pursuant to section 167 of the Excise Tax Act (Canada) and any corresponding provincial legislation (if applicable), made jointly by the parties, in compliance with the requirements of the Excise Tax Act (Canada).

      Section 7.22 Elections Pursuant to the ITA. If requested by the Purchaser, the Seller shall, as soon as possible after the Closing, jointly execute with the Purchaser an election under section 22 of the Income Tax Act (Canada) and any corresponding provincial legislation (if applicable) as to the sale of the Receivables, shall designate therein the applicable portion of the Purchase Price referred to in Section 3.8 (as adjusted under Section 3.4, Section 3.5 and Section 12.11) as the consideration paid by the Purchaser therefor and shall each file such election with the Canada Revenue Agency forthwith after execution thereof to make such election effective.

      Section 7.23 Issuance of Shares of Parent
Stock. The Parent shall take or cause to be taken all necessary steps and
proceedings to permit all of the shares of Parent Stock, which are to be issued
as part of the Purchase Price in connection with this Agreement, to be validly
issued to the Seller as fully-paid and non-assessable shares in the capital of
Parent. At any time, upon ten (10) days’ prior written notice to the
Parent, the Seller may transfer the Parent Stock issued pursuant to this
Agreement to the Founder; provided that prior to the effective time of such
transfer, such transferee shall have executed an investor questionnaire in a
form reasonably satisfactory to the Parent, and shall have been joined to the
Stockholders’ Agreement pursuant to a Joinder. Effective upon the time of
any such transfer, the Founder hereby assumes and agrees to assume the
obligations, liabilities and agreements of the Seller in this Agreement and any
applicable Seller Ancillary Document with respect to the Parent Stock; provided
that no such assumption shall relieve the Seller from any of its obligations,
liabilities or agreements under this Agreement or any such Seller Ancillary
Document.

 ARTICLE VIII

NON-COMPETITION

      Section 8.1 Noncompetition.

        (a) The Seller and the Shareholder Parties hereby acknowledge that (A) the Purchaser conducts the Business in the Territory and/or has current plans to expand the Business throughout the Territory and (B) to protect adequately the interest of the Purchaser in the business and goodwill of the Seller, it is essential that any noncompetition covenant with respect thereto cover all of the Business and the entire Territory.

        (b) Neither the Seller nor any Shareholder Party shall, during the Noncompete Period, in any manner, either directly, indirectly, individually, in partnership, jointly or in conjunction with any Person, (A) engage in the Business within the Territory, (B) have an equity or profit interest in, advise or render services (of an executive, marketing, manufacturing, research and development, administrative, financial, consulting, employment, independent contracting or other nature) or lend money to any Person that

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   engages in the Business within the Territory, or (C) perform, teach or instruct any Person to perform services of a type the Business arranges or facilitates, or which are otherwise related to the Business, including, without limitation, independent medical examinations, record reviews and expert testimony. For clarity, nothing in this Agreement shall prevent the Founder from engaging in the Practice of Medicine in any jurisdiction, including, without limitation, within the Territory.

        (c) In consideration for the covenant granted in this Article VIII, Purchaser agrees to pay to the Seller and the Shareholder Parties (in such proportions as the Seller and the Shareholder Parties shall mutually direct), on the Release Date, an amount equal to the Holdback Period Surplus, plus $10. In the event any or all of the Holdbank Period Surplus is not paid to the Seller and the Shareholder Parties (in such proportions as the Seller and the Shareholder Parties shall mutually direct) on the Release Date, the Purchaser shall pay to the Seller and the Shareholder Parties (in such proportions as the Seller and the Shareholder Parties shall mutually direct) any Holdback Period Surplus amount outstanding with simple interest thereon from the Release Date to the date of payment at a rate equal to six percent (6%) per annum.

        (d) Purchaser agrees that, if requested by Seller, it will jointly execute an election pursuant to paragraph 56.4(3)(b) of the Income Tax Act (Canada) (or any provincial equivalent) in respect of the covenants given in this Article VIII. Seller agrees that it bears the sole responsibility for completing such election in accordance with paragraph 56.4(3)(b) of the Income Tax Act (Canada) and shall be liable for any costs (including any penalties for filing such election beyond the statutorily required period). The Purchaser will not be responsible for taxes, interest, penalties, damages or expenses resulting from the failure by anyone to properly complete such election or to properly file such election with the relevant Governmental Entities.

      Section 8.2 Severability. In the event
a judicial or arbitral determination is made that any provision of this
Article VIII constitutes an unreasonable or otherwise unenforceable
restriction against the Seller or any Shareholder Party, the provisions of this
Article VIII shall be rendered void only to the extent that such judicial
or arbitral determination finds such provisions to be unreasonable or otherwise
unenforceable with respect to the Seller or such Shareholder party. In this
regard, any judicial authority construing this Agreement shall be empowered to
sever any portion of the Territory, any prohibited business activity or any time
period from the coverage of this Article VIII and to apply the provisions
of this Article VIII to the remaining portion of the Territory, the
remaining business activities and the remaining time period not so severed by
such judicial or arbitral authority. Moreover, notwithstanding the fact that any
provisions of this Article VIII is determined not to be specifically
enforceable, the Purchaser shall nevertheless be entitled to recover monetary
damages as a result of the breach of such provision by the Seller or a
Shareholder Party. The time period during which the prohibitions set forth in
this Article VIII shall apply shall be tolled and suspended for a period
equal to the aggregate time during which the Seller or a Shareholder Party
violates such prohibitions in any respect.

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      Section 8.3 Injunctive Relief. Any remedy at law for any breach of the provisions contained in this Article VIII may be inadequate and the Purchaser shall be entitled to seek injunctive relief in addition to any other remedy the Purchaser might have hereunder.

 ARTICLE IX

CONDITIONS TO CLOSING

      Section 9.1 Conditions to Obligations of the Purchaser. The obligations of the Purchaser to consummate the transactions contemplated hereby shall be subject to the fulfillment (or waiver by the Purchaser) at or prior to the Closing of each of the following additional conditions:

        (a) Injunction. There shall be no effective injunction, writ or preliminary restraining order or any order of any nature issued or Law passed by a Governmental Entity of competent jurisdiction to the effect that the transactions contemplated hereby may not be consummated as provided herein, no proceeding or lawsuit shall have been commenced by any Governmental Entity for the purpose of obtaining any such injunction, writ or preliminary restraining order and no written notice shall have been received from any Governmental Entity indicating an intent to restrain, prevent, materially delay or restructure the transactions contemplated hereby, in each case where the Closing would (or would be reasonably likely to) result in a material fine or penalty payable by the Purchaser or a material restriction on the Purchaser’s operation of its business as a result of such matter.

        (b) Consents. All Required Consents shall have been obtained or made on terms and conditions reasonably satisfactory to the Purchaser.

        (c) Representations and Warranties. Each of the representations and warranties of the Seller and the Shareholder Parties set forth in Article IV and of the Shareholder Parties contained in Article V shall have been true and correct in all material respects as of the date hereof and shall be true and correct in all material respects as of the Closing Date as though made on and as of the Closing Date.

        (d) Performance of Obligations of the Seller and the Shareholder Parties. The Seller and the Shareholder Parties shall have performed in all material respects all covenants and agreements required to be performed by them hereunder at or prior to the Closing.

        (e) No Material Adverse Effect. Between the date hereof and the Closing Date, there shall not have occurred (nor shall the Purchaser have become aware of) any Material Adverse Effect.

        (f) Closing Date Indebtedness Statement. The Seller shall have delivered to the Purchaser the Closing Date Indebtedness Statement in accordance with Section 3.2.

        (g) Payoff Letters. The Seller shall have delivered to the Purchaser satisfactory payoff letters (the “Payoff Letters”) evidencing that the Closing Date

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   Indebtedness shall be repaid in full by such disbursement of a portion of the Purchase Price.

        (h) Release of Liens. The Purchaser shall have received evidence reasonably satisfactory to it that all Liens affecting any Asset (other than Permitted Liens) have been released, or will be released upon repayment of the Closing Date Indebtedness pursuant hereto.

        (i) Landlord Acknowledgement. The Seller shall have delivered to the Purchaser an acknowledgement and consent certificate in substantially the form attached hereto as Exhibit 9.1(i), executed by the landlord of each Leased Real Property.

        (j) Affiliate Loans. The Purchaser shall have received evidence, satisfactory to the Purchaser, that the Affiliate Loans have been paid in full.

        (k) Lender Due Diligence Review. The Administrative Agent and the Lenders shall have completed to their satisfaction the due diligence review of the operations, condition (financial and other), prospects, assets and liabilities of the Seller and its business.

        (l) Customer Visits. The Purchaser shall have completed to its reasonable satisfaction successful Customer meetings pursuant to Section 7.14 hereto and shall have completed its diligence of any matters reasonably arising out of such visits.

        (m) Subordination Agreement. The Shareholder Parties shall have entered into a subordination agreement in substantially the form attached hereto as Exhibit 9.1(m)(the “Subordination Agreement”), pursuant to which the Shareholder Parties shall agree to subordinate any payments in respect of a Holdback Period Surplus under Section 3.5 to the obligations under the Loan Agreement.

        (n) Employment Agreement. The Founder shall have entered into an employment agreement with the Purchaser in substantially the form attached hereto as Exhibit 9.1(n) (the “Founder Employment Agreement”).

        (o) Transferred Employees. Each Transferred Employee shall have executed a non-solicitation and confidentiality agreement, on terms satisfactory to the Purchaser, with respect to such Transferred Employee’s employment with the Purchaser.

        (p) Stockholders’ Agreement. The Seller shall have executed an investor questionnaire in a form reasonably satisfactory to the Purchaser and shall have been joined to the Parent’s Stockholders’ Agreement pursuant to a joinder agreement (the “Joinder”).

        (q) Intellectual Property Assignment Agreements. The Seller and the Shareholder Parties shall have executed any and all intellectual property assignment agreements necessary to transfer the Seller Intellectual Property to the Purchaser, in each

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   case in a form reasonably satisfactory to the Purchaser, to be filed, where appropriate, with the relevant Government Entity at Purchaser’s sole expense.

        (r) Ancillary Documents. The Seller shall have delivered, or caused to be delivered, to the Purchaser the documents listed in Section 10.2.

      Section 9.2 Conditions to Obligations of the Seller and the Shareholder Parties. The obligations of the Seller and the Shareholder Parties to consummate the transactions contemplated hereby shall be subject to the fulfillment (or waiver by the Seller or Shareholder Parties, as applicable) at or prior to the Closing of each of the following additional conditions:

        (a) Injunction. There shall be no effective injunction, writ or preliminary restraining order or any order of any nature issued by a Governmental Entity of competent jurisdiction to the effect that the transactions contemplated hereby may not be consummated as provided herein, no proceeding or lawsuit shall have been commenced by any Governmental Entity for the purpose of obtaining any such injunction, writ or preliminary restraining order and no written notice shall have been received from any Governmental Entity indicating an intent to restrain, prevent, materially delay or restructure the transactions contemplated hereby, in each case where the Closing would (or would be reasonably likely to) result in a material fine or penalty payable by the Seller.

        (b) Representations and Warranties. Each of the representations and warranties of the Purchaser and the Parent set forth in Article VI shall have been true and correct in all material respects as of the date hereof and shall be true and correct in all respects as of the Closing Date as though made on and as of the Closing Date.

        (c) Performance of Obligations by the Purchaser and Parent. The Purchaser and Parent shall have performed in all material respects all covenants and agreements required to be performed by them hereunder on or prior to the Closing Date.

        (d) Joinder to Stockholders’ Agreement. The Parent shall have executed the Joinder, which, together with the investor questionnaire referenced in Section 9.1(p), shall contain the necessary provisions to ensure compliance with applicable Canadian securities laws, including, without limitation, a provision setting out the stock certificate legend with applicable resale restriction.

        (e) Ancillary Documents. The Purchaser shall have delivered, or caused to be delivered, to the Seller the payments and documents listed in Section 10.3.

 ARTICLE X

CLOSING

      Section 10.1 Closing. Subject to a Party’s right to terminate this Agreement pursuant to Article XI and the satisfaction or waiver of the conditions set forth in Article IX, the Closing shall occur at 5:00 p.m. Eastern Time on the date no later than five (5) Business Days following the date when all of the conditions set forth in Article IX have been satisfied or otherwise waived

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 by the appropriate Party (the “Closing”), or such other date or time as the Parties may agree. The Closing shall take place by the email transmission of executed PDF documents among the Parties and via wire transfer of funds, to be coordinated by the Parties’ legal counsel, or at such other place and time, and by such other method as the Parties may otherwise agree.

      Section 10.2 Seller Closing Deliveries. At the Closing, the Seller and the Shareholder Parties, as applicable, shall deliver to the Purchaser the following:

        (a) (i) a certificate executed by the Shareholder Parties and (ii) a certificate executed by a duly authorized officer of the Seller, in each case as to compliance with the conditions set forth in Section 9.1(c) and Section 9.1(d) hereof;

        (b) executed bills of sale, instruments of assignment, certificates of title documents, deeds and other conveyance documents, dated as of the Closing Date, transferring to the Purchaser all of the Seller’s right, title and interest in and to the Assets, together with possession of the Assets, including a bill of sale substantially in the form of Exhibit 10.2(b) (the “Bill of Sale”);

        (c) an assignment and assumption agreement substantially in the form of Exhibit 10.2(c) (the “Assignment and Assumption Agreement”), executed by the Seller;

        (d) an assignment and assumption agreement in respect of each of the Leases, pursuant to which the Seller and the Shareholder Parties will indemnify the Purchaser in respect of all claims under each Lease arising at any time prior to the Closing Date;

        (e) a certificate by the Secretary or any Assistant Secretary of the Seller, dated the Closing Date, as to (1) the good standing of the Seller in its jurisdiction of incorporation and in each other jurisdiction where it is qualified to do business, (2) the completeness and correctness of the Seller’s certified certificate of incorporation and bylaws, and (3) the effectiveness of the resolutions of the board of directors of the Seller and the shareholder of the Seller authorizing the execution, delivery and performance hereof by the Seller passed in connection herewith and the transactions contemplated hereby;

        (f) a certificate by an officer of the Shareholder, dated the Closing Date, as to the effectiveness of the resolutions of the board of directors of the Shareholder authorizing the execution, delivery and performance hereof by the Shareholder passed in connection herewith and the transactions contemplated hereby, including, without limitation, the payment of the Parent Stock directly to the Seller;

        (g) the election(s) requested by the Seller pursuant to Section 7.21; and

        (h) all other documents required to be entered into by the Seller and the Shareholder Parties pursuant hereto or reasonably requested by the Purchaser to convey the Assets to the Purchaser or to otherwise consummate the transactions contemplated hereby.

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      Section 10.3 Purchaser and Parent Closing Deliveries. On the Closing, the Purchaser and the Parent, as applicable, shall deliver, or caused to be delivered, to the Seller the following:

        (a) the portion of the Purchase Price to be paid at Closing pursuant to Section 3.3, paid and delivered in accordance with such Section;

        (b) (i) a certificate executed by a duly authorized officer of the Purchaser, and (ii) a certificate executed by a duly authorized officer of the Parent, in each case, as to compliance with the conditions set forth in Section 9.2(b) and Section 9.2(c) hereof;

        (c) a true and complete copy of a certificate of good standing dated as of the Closing Date issued by the Delaware Secretary of State, evidencing the Parent’s existence and good standing in the jurisdiction of its incorporation;

        (d) the Assignment and Assumption Agreement, executed by the Purchaser; and

        (e) all other documents required to be entered into or delivered by the Purchaser and the Parent at or prior to the Closing pursuant hereto or reasonably requested by the Seller to convey the shares of Parent Stock at the Closing or to otherwise consummate the transactions contemplated hereby.

 ARTICLE XI

TERMINATION

      Section 11.1 Termination. This Agreement may be terminated at any time prior to the Closing:

        (a) in writing by mutual consent of the Purchaser and the Seller;

        (b) by written notice by the Purchaser to the Seller, if there has been a breach of any representation, warranty, covenant or agreement by the Seller or a Shareholder Party, or any such representation or warranty shall become untrue after the date hereof, such that Section 9.1(c) or Section 9.1(d) would not be satisfied and such breach is not curable or, if curable, is not cured within the earlier of (i) ten (10) days after written notice thereof is given by the Purchaser to the Seller and (ii) the Expiration Date;

        (c) by written notice by the Seller to the Purchaser, if there has been a breach of any representation, warranty, covenant or agreement or the Purchaser or the Parent, or any such representation or warranty shall become untrue after the date hereof, such that Section 9.2(b) or Section 9.2(c) would not be satisfied and such breach is not curable or, if curable, is not cured within the earlier of (i) ten (10) days after written notice thereof is given by the Seller to the Purchaser and (ii) the Expiration Date;

        (d) by written notice by the Seller to the Purchaser or the Purchaser to the Seller, as the case may be, if there shall be any Law (other than any Law relating to privacy in respect of the transfer, under this Agreement, of records containing

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   information without providing notice and/or obtaining consent) of any Governmental Entity that makes consummation of the transactions contemplated hereby illegal or otherwise prohibited or if any order of any Governmental Entity prohibiting such transactions is entered;

        (e) by written notice from the Purchaser to the Seller under the circumstances described in Section 7.16; or

        (f) by written notice by the Seller to the Purchaser or the Purchaser to the Seller, as the case may be, in the event the Closing has not occurred on or prior to July 1, 2010 (the “Expiration Date”) for any reason other than delay or nonperformance or breach of this Agreement by the Party seeking such termination.

      Section 11.2 Specific Performance. Each Party hereby acknowledges that the rights of each Party to consummate the transactions contemplated hereby are special, unique and of extraordinary character and that, in the event that any Party violates or fails or refuses to perform any covenant or agreement made by it herein, the non-breaching Party may be without an adequate remedy at law. In the event that any Party violates or fails or refuses to perform any covenant or agreement made by such Party herein, the non-breaching Party or Parties may seek specific performance of such covenant or agreement.

      Section 11.3 Effect of Termination. In the event of termination of this Agreement pursuant to this Article XI, this Agreement shall forthwith become void and there shall be no liability on the part of any Party or its partners, officers, directors, or shareholders, except for obligations under Section 7.7 (Public Announcements), Section 7.11 (Confidentiality), Section 11.2 (Specific Performance), Section 13.1 (Notices), Section 13.5 (Controlling Law), Section 13.6 (Severability), Section 13.8 (Enforcement of Certain Rights), Section 13.9 (Waiver; Amendment), Section 13.14 (Transaction Costs) and this Section 11.3, all of which shall survive the Termination Date. Notwithstanding the foregoing, nothing contained herein shall relieve any Party from liability for any breach hereof.

 ARTICLE XII

INDEMNIFICATION

      Section 12.1 Indemnification Obligations of the Seller and the Shareholder Parties.

        (a) The Seller and the Shareholder Parties shall, jointly and severally, indemnify, defend and hold harmless the Purchaser Indemnified Parties from, against, and in respect of, any and all valid Losses arising out of, relating to or resulting from:

  
          (i) any breach or inaccuracy of any representation or warranty made by the Seller or the Shareholder Parties in Article IV of this Agreement or in any Seller Ancillary Document, whether such representation or warranty is made as of the date hereof or as of the Closing Date;

  

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          (ii) any non-fulfillment or breach of any covenant, agreement or undertaking made by the Seller or the Shareholder Parties in this Agreement or any Seller Ancillary Documents;

          (iii) any liability or obligation of the Seller or a Shareholder Party of any nature whatsoever (except the Assumed Liabilities), including, without limitation, the Specifically Excluded Liabilities;

          (iv) notwithstanding Section 13.11 (Compliance with Bulk Sales Laws), non-compliance by the Parties with any applicable bulk sales Law, including the Bulk Sales Act (Ontario);

          (v) failure by the Seller to obtain a clearance certificate pursuant to section 6 of the Retail Sales Tax Act (Ontario);

          (vi) Customer Overpayments; and

          (vii) failure by the Seller (A) to be registered with the Workplace Safety & Insurance Board or (B) to otherwise comply with the Workplace Safety and Insurance Act (Ontario), for the period up to and including the Closing Date.

  

        (b) The Shareholder Parties shall indemnify, defend and hold harmless the Purchaser Indemnified Parties from, against, and in respect of, any and all valid Losses arising out of or relating to any breach or inaccuracy of any representation or warranty made by the Shareholder Parties in Article V of this Agreement or in any Seller Ancillary Document, whether such representation and warranty is made as of the date hereof or as of the Closing Date.

      The Losses of the Purchaser Indemnified Parties described in this Section 12.1 as to which the Purchaser Indemnified Parties are entitled to indemnification are collectively referred to as “Purchaser Losses.”

      Section 12.2 Indemnification Obligations of the Purchaser and the Parent. The Purchaser and the Parent shall, jointly and severally, indemnify, defend and hold harmless the Seller Indemnified Parties from, against, and in respect of, any and all valid Losses arising out of, relating to or resulting from:

        (a) any breach or inaccuracy of any representation or warranty made by the Purchaser or the Parent in this Agreement or in any Purchaser Ancillary Document, whether such representation or warranty is made as of the date hereof or as of the Closing Date;

        (b) Third-Party Claims against the Seller or the Shareholder Parties due solely to the acquisition, ownership and interest in the Assets by the Purchaser or the Parent and/or the operation of the Purchased Business by the Purchaser or the Parent, which arise out of events occurring on or after the Closing or in respect of obligations to be observed, paid, discharged or performed at any time on or after the Closing, and not

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   arising out of or resulting from the actions or omissions of the Seller or the Shareholder Parties or the operation of the Business prior to the Closing;

        (c) Third-Party Claims (including, without limitation, investigations brought by a privacy commissioner) against the Seller or the Shareholder Parties arising out of the transfer by the Seller or the Shareholder Parties to the Purchaser or the Parent of records containing information under this Agreement without providing notice and/or obtaining consent;

        (d) Third-Party Claims (including, without limitation, investigations brought by a privacy commissioner) against the Seller or the Shareholder Parties arising out of any breach of any privacy legislation by the Purchaser or the Parent in respect of records containing information about any identifiable individual transferred by the Seller or the Shareholder Parties to the Purchaser or the Parent, and which arise out of events occurring after the Closing;

        (e) any non-fulfillment or breach of any covenant, agreement or undertaking made by the Purchaser or the Parent in this Agreement or in any Purchaser Ancillary Document; and

        (f) the Assumed Liabilities and any portion of the Closing Date Indebtedness including in the Final Working Capital Schedule.

      The Losses of the Seller Indemnified Parties described in this Section 12.2 as to which the Seller Indemnified Parties are entitled to indemnification are collectively referred to as “Seller Losses.”

      Section 12.3 Indemnification Procedure.

      (a) Promptly following receipt by an
Indemnified Party of notice by a third party (including any Governmental Entity)
of any complaint, dispute or claim or the commencement of any audit,
investigation, action or proceeding with respect to which such Indemnified Party
may be entitled to indemnification pursuant hereto (“Third-Party
Claim”), such Indemnified Party shall provide written notice thereof to
the Party obligated to indemnify under this Agreement (the “Indemnifying
Party”), provided, however, that the failure to so notify
the Indemnifying Party shall relieve the Indemnifying Party from liability
hereunder with respect to such Third-Party Claim only if, and only to the extent
that, such failure to so notify the Indemnifying Party results in the forfeiture
by the Indemnifying Party of rights and defenses otherwise available to the
Indemnifying Party with respect to such Third-Party Claim. The Indemnifying
Party shall have the right, upon written notice delivered to the Indemnified
Party within twenty (20) days thereafter assuming full responsibility for any
Purchaser Losses or Seller Losses (as the case may be) resulting from such
Third-Party Claim, to assume the defense of such Third-Party Claim, including
the employment of counsel reasonably satisfactory to the Indemnified Party and
the payment of the fees and disbursements of such counsel. In the event,
however, that the Indemnifying Party declines or fails to assume the defense of
such Third-Party Claim on the terms provided above or to employ counsel
reasonably

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   satisfactory to the Indemnified Party, in either case within such twenty (20)-day period, then any Purchaser Losses or any Seller Losses (as the case may be), shall include the reasonable fees and disbursements of counsel for the Indemnified Party as incurred. In any Third-Party Claim for which indemnification is being sought hereunder the Indemnified Party or the Indemnifying Party, whichever is not assuming the defense of such Third-Party Claim, shall have the right to participate in such matter and to retain its own counsel at such Party’s own expense. The Indemnifying Party or the Indemnified Party (as the case may be) shall at all times use reasonable efforts to keep the Indemnifying Party or Indemnified Party (as the case may be) reasonably apprised of the status of the defense of any matter the defense of which it is maintaining and to cooperate in good faith with each other with respect to the defense of any such matter.

      (b) No Indemnified Party may settle or
compromise any Third-Party Claim or consent to the entry of any judgment with
respect to which indemnification is being sought hereunder without the prior
written consent of the Indemnifying Party (which may not be unreasonably
withheld or delayed), unless (i) the Indemnifying Party fails to assume and
maintain the defense of such Third-Party Claim pursuant to Section
12.3(a) or (ii) such settlement, compromise or consent includes an
unconditional release of the Indemnifying Party and its officers, directors,
employees and Affiliates from all liability arising out of, or related to, such
Third-Party Claim. An Indemnifying Party may not, without the prior written
consent of the Indemnified Party, settle or compromise any Third-Party Claim or
consent to the entry of any judgment with respect to which indemnification is
being sought hereunder unless such settlement, compromise or consent (x)
includes an unconditional release of the Indemnified Party and its officers,
directors, employees and Affiliates from all liability arising out of, or
related to, such Third-Party Claim, (y) does not contain any admission or
statement suggesting any wrongdoing or liability on behalf of the Indemnified
Party and (z) does not contain any equitable order, judgment or term that in any
manner affects, restrains or interferes with the business of the Indemnified
Party or any of the Indemnified Party’s Affiliates.

      (c) In the event an Indemnified Party claims a
right to payment pursuant hereto with respect to any matter not involving a
third party complaint, dispute or claim (“Direct Claim”), such
Indemnified Party shall send written notice of such claim to the appropriate
Indemnifying Party (a “Notice of Claim”). Such Notice of Claim
shall specify the basis for such Direct Claim. The failure by any Indemnified
Party so to notify the Indemnifying Party shall not relieve the Indemnifying
Party from any liability that it may have to such Indemnified Party with respect
to any Direct Claim made pursuant to this Section 12.3(c) (unless such
failure results in prejudice to the Indemnifying Party) it being understood that
Notices of Claim in respect of a breach of a representation or warranty must be
delivered prior to the expiration of the survival period for such representation
or warranty under Section 12.4. In the event the Indemnifying Party does
not notify the Indemnified Party within thirty (30) days following its receipt
of such Notice of Claim that the Indemnifying Party disputes its liability to
the Indemnified Party under this Article or the amount thereof, the Direct Claim
specified by the Indemnified Party in such Notice of Claim shall be conclusively
deemed a liability of the Indemnifying Party under this Article XII, and
the Indemnifying Party shall pay the

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   amount of such liability to the Indemnified Party on demand or, in the case of any notice in which the amount of the Direct Claim (or any portion of the Direct Claim) is estimated, on such later date when the amount of such Direct Claim (or such portion of such Direct Claim) becomes finally determined. In the event the Indemnifying Party has timely disputed its liability with respect to such Direct Claim as provided above, as promptly as possible, such Indemnified Party and the appropriate Indemnifying Party shall establish the merits and amount of such Direct Claim (by mutual agreement or by submitting such dispute to a court or body of competent jurisdiction) and, within five (5) Business Days following the final determination of the merits and amount of such Direct Claim, the Indemnifying Party shall pay to the Indemnified Party immediately available funds in an amount equal to such Direct Claim as determined hereunder.

      Section 12.4 Survival Period. The representations and warranties of the Parties contained herein and the indemnification obligation of the Seller and the Shareholder Parties set out in Section 12.1(a)(vii) shall not be extinguished by the Closing, but shall survive the Closing for, and all claims for indemnification in connection therewith shall be asserted not later than, twelve (12) months following the Closing Date; provided, however, that (a) each of the representations and warranties contained in Section 4.1 (Organization), Section 4.2 (Authorization), Section 4.7
(Sufficiency of and Title to Assets), Section 4.16 (Tax Returns; Taxes), Section 4.18 (Seller Benefit Plans), Section 4.22(d) (Intellectual Property), Section 4.23 (Affiliate Matters), Section 4.25 (Licenses), Section 4.29 (Brokers, Finders and Investment Bankers), Section 4.31 (Investment Representations),
Section 5.1 (Authorization and Validity of Agreement), Section 6.1 (Organization), Section 6.2 (Authorization), Section 6.4 (Capitalization of the Parent) and Section 6.5 (Issuance of Shares) (collectively, the “Surviving Representations”), shall survive the Closing without limitation as to time, and the period during which a claim for
indemnification may be asserted in connection therewith shall continue indefinitely. The covenants and agreements of the Parties hereunder shall survive without limitation as to time, and the period during which a claim for indemnification may be asserted in connection therewith shall continue indefinitely. Notwithstanding the foregoing, if, prior to the close of business on the last day a claim for indemnification may be asserted hereunder, an Indemnifying Party shall have been properly notified of a claim for indemnity hereunder and such claim shall not have been finally resolved or disposed of at such date, such claim
shall continue to survive and shall remain a basis for indemnity hereunder until such claim is finally resolved or disposed of in accordance with the terms hereof.

      Section 12.5 Liability Limits.
Notwithstanding anything to the contrary set forth herein, the Purchaser
Indemnified Parties shall not make a claim against the Seller and the
Shareholder Parties for indemnification under Section 12.1(a)(i) for
Purchaser Losses unless and until the aggregate amount of such Purchaser Losses
exceeds $87,325 (the “Purchaser Basket”), in which event
the Purchaser Indemnified Parties may claim indemnification for all Purchaser
Losses in excess of $43,663 (the “Purchaser Deductible”),
up to, but not to exceed $8,732,557 (the “Purchaser Cap”).
Notwithstanding the foregoing, the Purchaser Basket, the Purchaser Deductible
and the Purchaser Cap shall not apply to any Purchaser Losses arising out of or
related to fraud, willful misconduct or a breach of the Surviving
Representations, and the Seller and the Shareholder Parties (as applicable)
shall be liable for all Purchaser Losses with respect thereto.

 66

 CONFIDENTIAL

      Section 12.6 Earnings Multiple. In the event the Purchaser asserts a claim arising from any matter which directly or indirectly negatively impacts the normalized EBITDA of the Seller for the trailing twelve (12) months ended February 28, 2010 or the valuation set forth on Exhibit 12.6 on a historical or pro forma basis, any damages claimed shall reflect a 4.75 multiplication factor in their calculation.

      Section 12.7 Set-Off. Any Party shall be entitled to deduct and set off any amount owing to it by another Party pursuant to this Article XII from and against any other amount owing by such first mentioned Party to the other Party pursuant to this Agreement; provided that the Purchaser’s right of set off in the form of a reduction in the Holdback Amount for the purposes of this Agreement shall be limited to only those Purchaser Losses which arise within twelve (12) months of the Closing Date.

      Section 12.8 Exclusive Remedy. Except for actions grounded in fraud or willful misconduct, from and after the Closing, the remedies provided in this Article XII shall constitute the sole and exclusive remedy of any Indemnified Party for damages arising out of, resulting from or incurred in connection with any claims related to this Agreement or arising out of the transactions contemplated hereby or the Business prior to the date hereof; provided, however, that this exclusive remedy for damages does not preclude a party from bringing an action for specific performance or injunction upon application to a court of competent jurisdiction to require a party to perform its obligations under this Agreement or any agreement entered into in connection herewith.

      Section 12.9 One Recovery. Any Indemnified Party shall not be entitled to double recovery for any claim, whether or not the claim may have resulted from the breach of more than one of the representations, warranties, agreements and covenants made by the Indemnifying Party in this Agreement. For greater certainty and notwithstanding any provision in this Agreement to the contrary, the Purchaser Indemnified Parties shall under no circumstances have any right to seek indemnification and the Seller and the Shareholder Parties shall have no obligation under this Article XII in respect of any claim entitling the Purchaser to a payment pursuant to this Article XII where the Holdback Amount has been reduced in the amount and in respect of any Working Capital Deficit by way of setoff pursuant to Section 3.6(d).

      Section 12.10 Insurance and Tax Recoveries. Following the time any Indemnified Party receives payment (cash or otherwise) from an Indemnifying Party with respect to Losses under this Article XII, such Indemnified Party shall pay to the Indemnifying Party any net insurance proceeds, or tax proceeds (to the extent reflecting a contemporaneous net tax benefit to the Indemnified Party), actually collected by the Indemnified Party with respect to such Losses, less any fees and expenses incurred by the Indemnified Party in collecting such tax or insurance proceeds, up to the amount of such monetary payment; provided that, other than using commercially reasonable efforts to promptly file a claim for covered Losses, in no event shall the Indemnified Party be required to pursue collection or recovery of any insurance proceeds from any insurer, whether by litigation or otherwise.

      Section 12.11 Adjustment to Purchase Price. For greater certainty, any indemnity payments made pursuant to this Article XII shall be treated by the Seller and the Purchaser as

 67

 CONFIDENTIAL

 adjustments to the Purchase Price, and shall be allocated as goodwill. It is the intention of the Parties to treat any indemnity payment made under this Agreement as an adjustment to the Purchase Price for all federal and provincial tax purposes, and the Parties agree to file their Tax returns accordingly.

 ARTICLE XIII

MISCELLANEOUS PROVISIONS

      Section 13.1 Notices. All notices, communications and deliveries required or made hereunder must be made in writing signed by or on behalf of the Party making the same, shall specify the Section hereunder pursuant to which it is given or being made, and shall be delivered personally or by electronic mail, telecopy transmission, a national overnight courier service or registered or certified mail (return receipt requested) (with postage and other fees prepaid) as follows:

			
	  	 To the Purchaser	  
	 	 Parties:	 c/o ExamWorks, Inc.
	 	  	 3280 Peachtree Road, Suite 2625
	 	  	 Atlanta, GA 30305
	 	  	 USA
	 	  	 Attn: James K. Price, Co-Chairman
	 	  	 Facsimile No.: (646) 358-1779
	 	  	 Email: jimprice@examworks.com
	  
	 	 with a copy to:	 Torys LLP
	 	  	 Suite 3000
	 	  	 79 Wellington Street West
	 	  	 Box 270, TD Centre
	 	  	 Toronto, ON M5K 1N2
	 	  	 Attn: Michael F. E. Akkawi
	 	  	 Facsimile No.: (416) 865-7380
	 	  	 Email: makkawi@torys.com
	  
	 	 To the Seller or the	  
	 	 Shareholder Parties:	 SOMA Medical Assessments Inc.
	 	  	 7368 Yonge Street
	 	  	 Suite 206
	 	  	 Thornhill, Ontario
	 	  	 L4J 8H9
	 	  	 Attn: Troy Cumiskey
	 	  	 Facsimile No.: (905) 881-7887
	 	  	 Email: troy@somamedical.com

 68

 CONFIDENTIAL

			
	  	 with a copy to:	 Goodmans LLP
	 	  	 333 Bay St., Suite 3400
	 	  	 Toronto, ON M5H 2S7
	 	  	Attn: Neil Sheehy / Kirk Rauliuk
	 	  	 Facsimile No.: (416) 979-1234
	 	  	 Email: nsheehy@goodmans.ca / krauliuk@goodmans.ca

 or to such other representative or at such other postal address, facsimile number or electronic mail address of a Party as such Party may furnish to the other Parties in writing. Any such notice, communication or delivery shall be deemed given or made (a) on the date of delivery, if delivered in person, (b) upon transmission by facsimile if receipt is confirmed by telephone (with a copy sent by a national courier service or mail upon or promptly following such facsimile transmission), (c) upon transmission by electronic mail if receipt is confirmed (with a copy sent by a national courier service or mail upon or promptly following such electronic mail transmission), (d) on the first (1st) Business Day following delivery to a national overnight courier service or (e) on the fifth (5th) Business Day following it being mailed by registered or certified mail.

      Section 13.2 Schedules and Exhibits. The Schedules and Exhibits are hereby incorporated into this Agreement and are hereby made a part hereof as if set out in full herein.

      Section 13.3 Assignment; Successors in
Interest. No assignment or transfer by any Party of such Party’s rights
and obligations hereunder shall be made except with the prior written consent of
the other Parties; provided that the Purchaser shall, without the obligation to
obtain the prior written consent of any other Party, be entitled to assign this
Agreement or all or any part of its rights (or its obligations hereunder) to one
or more Affiliates of the Purchaser, to a successor (or surviving entity to a
merger) upon the sale of all or substantially all of its assets or business, or
to its lenders under its credit facilities; provided that in no event shall such
assignment relieve the Purchaser or the Parent of either of their obligations to
the Seller and the Shareholder Parties hereunder. This Agreement shall be
binding upon and shall inure to the benefit of the Parties and their respective
successors and permitted assigns, and any reference to a Party shall also be a
reference to the successors and permitted assigns thereof.

      Section 13.4 Captions. The titles, captions and table of contents contained herein are inserted herein only as a matter of convenience and for reference and in no way define, limit, extend or describe the scope of this Agreement or the intent of any provision hereof.

      Section 13.5 Controlling Law. This Agreement shall be governed, including as to validity, interpretation and effect, by the laws of the Province of Ontario and the federal laws of Canada applicable therein, and shall be construed and treated in all respects as an Ontario contract. Each of the Parties hereby irrevocably attorns to the exclusive jurisdiction of the Courts of the Province of Ontario in respect of all matters arising under and in relation to this Agreement, provided that matters arising under Section 3.4, Section 3.5 and Section 3.6 shall first be governed by the dispute resolution mechanisms set forth in Section 3.4 and Section 3.5.

 69

 CONFIDENTIAL

      Section 13.6 Severability. Each of the provisions contained in this Agreement is distinct and severable and a declaration of invalidity or unenforceability of any such provision or part thereof by a court of competent jurisdiction shall not affect the validity or enforceability of any other provision hereof. To the extent permitted by Law, the parties waive any provision of Law which renders any provision of this Agreement invalid or unenforceable in any respect. The parties shall engage in good faith negotiations to replace any provision which is declared invalid or unenforceable with a valid and enforceable provision, the economic effect of which comes as close as possible to that of the invalid or unenforceable provision which it replaces.

      Section 13.7 Counterparts. This Agreement may be executed in two or more counterparts (including by electronic mail, facsimile or other electronic means), each of which shall be deemed an original but all of which together shall constitute one and the same instrument, and it shall not be necessary in making proof of this Agreement or the terms hereof to produce or account for more than one of such counterparts.

      Section 13.8 Enforcement of Certain Rights. Nothing expressed or implied herein is intended, or shall be construed, to confer upon or give any Person other than the Parties and, only with respect to Article XII, the Purchaser Indemnified Parties and the Seller Indemnified Parties and the respective successors or permitted assigns of each of the foregoing, any right, remedy, obligation or liability under or by reason of this Agreement, or result in such Person being deemed a third-party beneficiary hereof.

      Section 13.9 Waiver; Amendment. Any agreement on the part of a Party to any extension or waiver of any provision hereof shall be valid only if set forth in an instrument in writing signed on behalf of such Party. A waiver by a Party of the performance of any covenant, agreement, obligation, condition, representation or warranty shall not be construed as a waiver of any other covenant, agreement, obligation, condition, representation or warranty. A waiver by any Party of the performance of any act shall not constitute a waiver of the performance of any other act or an identical act required to be performed at a later time. This Agreement may not be amended, modified or supplemented except by written agreement of the Parties.

      Section 13.10 Entire Agreement. This
Agreement and the documents executed pursuant hereto constitute the entire
agreement between the parties pertaining to the subject matter of this
Agreement. There are no warranties, conditions, or representations (including
any that may be implied by statute) and there are no agreements in connection
with such subject matter except as specifically set forth or referred to in this
Agreement. No reliance is placed on any warranty, representation, opinion,
advice or assertion of fact made either prior to, contemporaneous with, or after
entering into this Agreement, or any amendment or supplement thereto, by any
party to this Agreement or its directors, officers, employees or agents, to any
other party to this Agreement or its directors, officers, employees or agents,
except to the extent that the same has been reduced to writing and included as a
term of this Agreement, and none of the parties to this Agreement has been
induced to enter into this Agreement or any amendment or supplement by reason of
any such warranty, representation, opinion, advice or assertion of fact.
Accordingly, there shall be no liability, either in tort or in contract,
assessed in relation to any such warranty, representation, opinion, advice or
assertion of fact, except to the extent contemplated above.

 70

 CONFIDENTIAL

      Section 13.11 Compliance with Bulk Sales Laws. Subject to Section 13.1(a)(iv), each Party hereby waives compliance by the Parties with the “bulk sales,” “bulk transfers” or similar Laws and all other similar Laws in all applicable jurisdictions in respect of the transactions contemplated by this Agreement.

      Section 13.12 Interpretation. Where the context requires, the use of a pronoun of one gender or the neuter is to be deemed to include a pronoun of the appropriate gender. References herein to any Law shall be deemed to refer to such Law, as amended from time to time, and all rules and regulations promulgated thereunder. The words “include,” “includes,” and “including” shall not be deemed to be terms of limitation, but rather shall be deemed to be followed by the words “without limitation.” Except as otherwise indicated, all references in this Agreement to “Sections,” “Schedules” and “Exhibits” are intended to refer to Sections, Schedules and Exhibits of this Agreement.

      Section 13.13 Cooperation Following the Closing. Following the Closing, each Party shall deliver to the other Parties such further information and documents and shall execute and deliver to the other Parties such further instruments and agreements as any other Party shall reasonably request to consummate or confirm the transactions provided for herein, to accomplish the purpose hereof or to assure to any other Party the benefits hereof.

      Section 13.14 Transaction Costs. Except
as provided above or as otherwise expressly provided herein, (a) the Purchaser
Parties shall pay the fees, costs and expenses of the Purchaser Parties incurred
in connection herewith and the transactions contemplated hereby, including the
fees, costs and expenses of their financial advisors, accountants and counsel,
and (b) the Seller and the Shareholder Parties shall pay the fees, costs and
expenses of the Seller and the Shareholder Parties incurred in connection
herewith and the transactions contemplated hereby, including the fees, costs and
expenses of financial advisors, accountants and counsel to the Seller and the
Shareholder Parties (the “Seller Transaction Expenses”).
Notwithstanding the foregoing, if the Closing does not occur due to the
non-fulfillment of Section 9.1(k) hereto as a condition to Closing, the
Purchaser shall pay fifty percent (50%) of the Seller Transaction Expenses
incurred from February 26, 2010 until the date the Purchaser notifies the Seller
that the Closing will not occur as a result of the non-fulfillment of such
condition.

 [Signatures begin on following page.]

 71

 CONFIDENTIAL

      IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed, as of the date first above written.

			
	    	
      PARENT: 

      EXAMWORKS GROUP, INC.

    
	 	 	 
	 	 By:	
      

      

       
	 	 Name:  	 Richard E. Perlman
	 	 Title:	 Co-Chairman and Co-CEO
	 	 
	 	
      PURCHASER: 

      SOMA MEDICAL ASSESSMENTS CORP.

    
	 	 	 
	 	 By:	
      

      

       
	 	 Name:	 Richard E. Perlman
	 	 Title:	 Co-Chairman and Co-CEO

 [Signatures continue on following page.]

 

 

 (Signature Pages to Asset Purchase Agreement)

 CONFIDENTIAL 

			
	   	
      SELLER:

      SOMA MEDICAL ASSESSMENTS INC.

    
	 	 	 
	 	 By:	
      

      

       
	 	 Name:    	 Troy Cumiskey
	 	 Title:	 President
	 	 
	 	
      SHAREHOLDER: 

      1495929 ONTARIO INC.

    
	 	 	 
	 	 By:	
      

      

       
	 	 Name:	 Troy Cumiskey
	 	 Title:	   
	  
	 	FOUNDER:
	 	 
	 	 
	 	
      

      Troy Cumiskey

 

 

 (Signature Pages to Asset Purchase Agreement)Revolving Credit Agreement

 Exhibit 10.1 

EXECUTION VERSION 

Published CUSIP Number:
                             

 
  

 
 CREDIT AGREEMENT

 Dated as of August 12, 2010 

among 

HARTE-HANKS, INC., 

as the Borrower, 

BANK OF AMERICA, N.A., 

as Administrative Agent, Swing Line Lender 

and 
 L/C Issuer,

 and 

The Other Lenders Party Hereto 

BANC OF AMERICA SECURITIES LLC, 

as 
 Sole Lead
Arranger 
  
  

 

 TABLE OF CONTENTS 

 

					
	 Section
	  	Page
		
	TABLE OF CONTENTS	  	i
		
	Article 1. DEFINITIONS AND ACCOUNTING TERMS	  	1
			
	1.01	  	Defined Terms	  	1
	1.02	  	Other Interpretive Provisions	  	21
	1.03	  	Accounting Terms	  	21
	1.04	  	Rounding	  	22
	1.05	  	Times of Day	  	22
	1.06	  	Letter of Credit Amounts	  	22
		
	Article 2. THE COMMITMENTS AND CREDIT EXTENSIONS	  	23
			
	2.01	  	Committed Loans	  	23
	2.02	  	Borrowings, Conversions and Continuations of Committed Loans	  	23
	2.03	  	Reserved	  	24
	2.04	  	Letters of Credit	  	25
	2.05	  	Swing Line Loans	  	33
	2.06	  	Prepayments	  	36
	2.07	  	Termination or Reduction of Commitments	  	37
	2.08	  	Repayment of Loans	  	37
	2.09	  	Interest	  	38
	2.10	  	Fees	  	38
	2.11	  	Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate	  	39
	2.12	  	Evidence of Debt	  	40
	2.13	  	Payments Generally; Administrative Agent’s Clawback	  	40
	2.14	  	Sharing of Payments by Lenders	  	42
	2.15	  	Reserved	  	43
	2.16	  	Increase in Commitments	  	43
	2.17	  	Cash Collateral	  	44
	2.18	  	Defaulting Lenders	  	45
		
	Article 3. TAXES, YIELD PROTECTION AND ILLEGALITY	  	47
			
	3.01	  	Taxes	  	47
	3.02	  	Illegality	  	51
	3.03	  	Inability to Determine Rates	  	52
	3.04	  	Increased Costs	  	52
	3.05	  	Compensation for Losses	  	54
	3.06	  	Mitigation Obligations; Replacement of Lenders	  	54
	3.07	  	Survival	  	55
		
	Article 4. CONDITIONS PRECEDENT TO CREDIT EXTENSIONS	  	55
			
	4.01	  	Conditions of Initial Credit Extension	  	55
	4.02	  	Conditions to all Credit Extensions	  	57

  

 i 

					
	Article 5. REPRESENTATIONS AND WARRANTIES	  	58
			
	5.01	  	Existence, Qualification and Power	  	58
	5.02	  	Authorization; No Contravention	  	58
	5.03	  	Governmental Authorization; Other Consents	  	58
	5.04	  	Binding Effect	  	59
	5.05	  	Financial Statements; No Material Adverse Effect	  	59
	5.06	  	Litigation	  	59
	5.07	  	No Default	  	60
	5.08	  	Ownership of Property; Liens	  	60
	5.09	  	Environmental Compliance	  	60
	5.10	  	Insurance	  	60
	5.11	  	Taxes	  	60
	5.12	  	ERISA Compliance	  	60
	5.13	  	Subsidiaries; Equity Interests	  	61
	5.14	  	Margin Regulations; Investment Company Act	  	61
	5.15	  	Disclosure	  	62
	5.16	  	Compliance with Laws	  	62
	5.17	  	Permits and Licenses	  	62
	5.18	  	Certain Transactions	  	62
	5.19	  	Taxpayer Identification Number	  	62
	5.20	  	Solvency	  	62
	5.21	  	Labor Matters	  	63
	5.22	  	Agreements Affecting Financial Condition	  	63
	5.23	  	Material Contracts	  	63
	5.24	  	Intellectual Property; Licenses, Etc.	  	63
		
	Article 6. AFFIRMATIVE COVENANTS	  	63
			
	6.01	  	Financial Statements	  	63
	6.02	  	Certificates; Other Information	  	64
	6.03	  	Notices	  	66
	6.04	  	Payment of Obligations	  	66
	6.05	  	Preservation of Existence, Etc.	  	66
	6.06	  	Maintenance of Properties	  	67
	6.07	  	Maintenance of Insurance	  	67
	6.08	  	Compliance with Laws; Contract; License and Permits	  	67
	6.09	  	Books and Records	  	67
	6.10	  	Inspection Rights	  	67
	6.11	  	Use of Proceeds	  	67
		
	Article 7. NEGATIVE COVENANTS	  	68
			
	7.01	  	Liens	  	68
	7.02	  	Reserved	  	69
	7.03	  	Indebtedness of Subsidiaries	  	69
	7.04	  	Fundamental Changes	  	70
	7.05	  	Dispositions	  	71
	7.06	  	Restricted Payments	  	73

  

 ii 

					
	7.07	  	Change in Nature of Business; Fiscal Year	  	73
	7.08	  	Transactions with Affiliates	  	73
	7.09	  	Burdensome Agreements	  	74
	7.10	  	Use of Proceeds	  	74
	7.11	  	Financial Covenants	  	75
	7.12	  	Sale and Leaseback	  	75
	7.13	  	Employee Benefit Plans	  	75
	7.14	  	Foreign Operations	  	75
		
	Article 8. EVENTS OF DEFAULT AND REMEDIES	  	76
			
	8.01	  	Events of Default	  	76
	8.02	  	Remedies Upon Event of Default	  	78
	8.03	  	Application of Funds	  	78
		
	Article 9. ADMINISTRATIVE AGENT	  	79
			
	9.01	  	Appointment and Authority	  	79
	9.02	  	Rights as a Lender	  	79
	9.03	  	Exculpatory Provisions	  	79
	9.04	  	Reliance by Administrative Agent	  	80
	9.05	  	Delegation of Duties	  	81
	9.06	  	Resignation of Administrative Agent	  	81
	9.07	  	Non-Reliance on Administrative Agent and Other Lenders	  	82
	9.08	  	No Other Duties, Etc.	  	82
	9.09	  	Administrative Agent May File Proofs of Claim	  	82
	9.10	  	Collateral Matters	  	83
		
	Article 10. MISCELLANEOUS	  	84
			
	10.01	  	Amendments, Etc.	  	84
	10.02	  	Notices; Effectiveness; Electronic Communication	  	86
	10.03	  	No Waiver; Cumulative Remedies; Enforcement	  	88
	10.04	  	Expenses; Indemnity; Damage Waiver	  	88
	10.05	  	Payments Set Aside	  	90
	10.06	  	Successors and Assigns	  	91
	10.07	  	Treatment of Certain Information; Confidentiality	  	95
	10.08	  	Right of Setoff	  	96
	10.09	  	Interest Rate Limitation	  	97
	10.10	  	Counterparts; Integration; Effectiveness	  	97
	10.11	  	Survival of Representations and Warranties	  	97
	10.12	  	Severability	  	97
	10.13	  	Replacement of Lenders	  	98
	10.14	  	Governing Law; Jurisdiction; Etc.	  	98
	10.15	  	Waiver of Jury Trial	  	99
	10.16	  	No Advisory or Fiduciary Responsibility	  	100
	10.17	  	Electronic Execution of Assignments and Certain Other Documents	  	100
	10.18	  	USA PATRIOT Act	  	100
	10.19	  	ENTIRE AGREEMENT	  	101

  

 iii 

 SCHEDULES 
  

			
	  1.01(a)	  	Existing Letters of Credit
	  1.01(b)	  	Existing Term Loans
	  2.01	  	Commitments and Applicable Percentages
	  5.02	  	Authorization; No Contravention
	  5.05	  	Supplement to Interim Financial Statements
	  5.06	  	Litigation
	  5.09	  	Environmental Matters
	  5.13	  	Subsidiaries; Other Equity Investments
	  5.18	  	Certain Transactions
	  5.19	  	Federal EINs
	  7.01	  	Existing Liens
	  7.09	  	Burdensome Agreements
	10.02	  	Administrative Agent’s Office; Certain Addresses for Notices

EXHIBITS 
  

			
	A	  	Committed Loan Notice
	B	  	Swing Line Loan Notice
	C-1	  	Form of Revolving Credit Note
	C-2	  	Form of Swingline Note
	D	  	Form of Compliance Certificate
	E-1	  	Assignment and Assumption
	E-2	  	Administrative Questionnaire
	F	  	Opinion Matters

  

 iv 

 CREDIT AGREEMENT 

This CREDIT AGREEMENT (“Agreement”) is entered into as of August 12, 2010, among HARTE-HANKS, INC., a Delaware
corporation (the “Borrower”), each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”), and BANK OF AMERICA, N.A., as Administrative Agent, Swing Line
Lender and L/C Issuer. 
 The Borrower has requested that the Lenders provide a revolving credit facility, and the Lenders are
willing to do so on the terms and conditions set forth herein. 
 In consideration of the mutual covenants and agreements herein
contained, the parties hereto covenant and agree as follows: 
 ARTICLE 1. 

DEFINITIONS AND ACCOUNTING TERMS 

1.01 Defined Terms. As used in this Agreement, the following terms shall have the meanings set forth below: 

“Administrative Agent” means Bank of America in its capacity as administrative agent under any of the Loan Documents, or
any successor administrative agent. 
 “Administrative Agent’s Office” means the Administrative
Agent’s address and, as appropriate, account as set forth on Schedule 10.02, or such other address or account as the Administrative Agent may from time to time notify to the Borrower and the Lenders. 

“Administrative Questionnaire” means an Administrative Questionnaire in substantially the form of Exhibit E-2 or any
other form approved by the Administrative Agent. 
 “Adjusted Leverage Ratio” means, as at any date of
determination, the ratio of (a) Consolidated Funded Indebtedness minus non-restricted cash held by the Borrower, as of such date, to (b) Consolidated EBITDA for the Reference Period most recently ended. 

“Affiliate” means, with respect to any Person, another Person that, directly or indirectly, through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Aggregate
Commitments” means the Commitments of all the Lenders. 
 “Agreement” means this Credit Agreement.

 “Applicable Percentage” means with respect to any Lender at any time, the percentage (carried out to the
ninth decimal place) of the Aggregate Commitments represented by such Lender’s Commitment at such time, subject to adjustment as provided in Section 2.18. If the commitment of each Lender to make Loans and the obligation of the L/C
Issuer to make L/C Credit Extensions have been terminated pursuant to Section 8.02 or if the Aggregate Commitments have expired, then the Applicable Percentage of each Lender shall be determined based on the Applicable Percentage of such
Lender most recently in effect, giving effect to any 
  

 1 

 
subsequent assignments. The initial Applicable Percentage of each Lender is set forth opposite the name of such Lender on Schedule 2.01 or in the Assignment and Assumption pursuant to which such
Lender becomes a party hereto, as applicable. 
 “Applicable Rate” means the applicable percentage per annum
set forth below determined by reference to the Adjusted Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(b): 

 

									
	 Level
	  	 Adjusted Leverage Ratio
	  	 Eurodollar

Rate and L/C
Fee
	 	 Base Rate
	 	 Commitment

Fee

					
	 I
	  	<1.50:1.00	  	2.25%	 	1.25%	 	0.40%
					
	 II
	  	31.50:1.00 but <2.00:1.00	  	2.50%	 	1.50%	 	0.40%
					
	 III
	  	32.00:1.00 but <2.50:1.00	  	2.75%	 	1.75%	 	0.40%
					
	 IV
	  	32.50:1.00	  	3.00%	 	2.00%	 	0.45%

 Any increase or
decrease in the Applicable Rate resulting from a change in the Adjusted Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(b);
provided, however, that if a Compliance Certificate is not delivered when due in accordance with such Section, then, upon the request of the Required Lenders, Pricing Level IV shall apply, in each case as of the first Business Day after the date on
which such Compliance Certificate was required to have been delivered and in each case shall remain in effect until the date on which such Compliance Certificate is delivered. 

Notwithstanding anything to the contrary contained in this definition, the determination of the Applicable Rate for any period shall be
subject to the provisions of Section 2.11(b). 
 From the Closing Date through the first Business Day following the
date that the Compliance Certificate is received by the Administrative Agent pursuant to Section 6.02(b) for the fiscal quarter ending September 30, 2010, the Applicable Rate shall be determined based upon Pricing Level I.

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

“Arranger” means Banc of America Securities LLC, in its capacity as sole lead arranger. 

“Assignee Group” means two or more Eligible Assignees that are Affiliates of one another or two or more Approved Funds
managed by the same investment advisor. 
  

 2 

 “Assignment and Assumption” means an assignment and assumption entered into
by a Lender and an assignee (with the consent of any party whose consent is required by Section 10.06(b)), and accepted by the Administrative Agent, in substantially the form of Exhibit E-1 or any other form approved by the
Administrative Agent. 
 “Attributable Indebtedness” means, on any date, in respect of any capital lease of any
Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP. 

“Audited Financial Statements” means the audited consolidated balance sheet of the Borrower and its Subsidiaries for the
fiscal year ended December 31, 2009, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year of the Borrower and its Subsidiaries, including the notes thereto. 

“Availability Period” means the period from and including the Closing Date to the earliest of (a) the Maturity
Date, (b) the date of termination of the Aggregate Commitments pursuant to Section 2.07, and (c) the date of termination of the commitment of each Lender to make Loans and of the obligation of the L/C Issuer to make L/C Credit
Extensions pursuant to Section 8.02. 
 “Bank of America” means Bank of America, N.A. and its
successors. 
 “Base Rate” means for any day a fluctuating rate per annum equal to the
highest of (a) the Federal Funds Rate plus  1/2
of 1%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,” and (c) the Eurodollar Rate plus 1.00%. The “prime rate” is a rate set by Bank of
America based upon various factors including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such
announced rate. Any change in such prime rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change. 

“Base Rate Committed Loan” means a Committed Loan that is a Base Rate Loan. 

“Base Rate Loan” means a Loan that bears interest based on the Base Rate. 

“Borrower” has the meaning specified in the introductory paragraph hereto. 

“Borrower Materials” has the meaning specified in Section 6.02. 

“Borrowing” means a Committed Borrowing or a Swing Line Borrowing, as the context may require. 

“Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to
close under the Laws of, or are in fact closed in, the state where the Administrative Agent’s Office is located and, if such day relates to any Eurodollar Rate Loan, means any such day that is also a London Banking Day. 

 

 3 

 “Capitalized Lease(s)” means lease(s) under which the Borrower or any of
its Subsidiaries is the lessee or obligor, the discounted future rental payment obligations under which are required to be capitalized on the balance sheet of the lessee or obligor in accordance with GAAP. 

“Cash Collateralize” means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of the
Administrative Agent, L/C Issuer or Swing Line Lender (as applicable) and the Lenders, as collateral for L/C Obligations, Obligations in respect of Swing Line Loans, or obligations of Lenders to fund participations in respect of either thereof (as
the context may require), cash or deposit account balances or, if the L/C Issuer or Swing Line Lender benefitting from such collateral shall agree in its sole discretion, other credit support, in each case pursuant to documentation in form and
substance satisfactory to (a) the Administrative Agent and (b) the L/C Issuer or the Swing Line Lender (as applicable). “Cash Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of such
cash collateral and other credit support. 
 “Change in Law” means the occurrence, after the date of this
Agreement, of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof by any
Governmental Authority or (c) the making or issuance of any request, guideline or directive (whether or not having the force of law) by any Governmental Authority. 

“Change of Control” means an event or series of events by which: 

(a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of
1934, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan), through one or more related or unrelated
transactions, becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed to have “beneficial ownership” of all securities that such
person or group has the right to acquire, whether such right is exercisable immediately or only after the passage of time (such right, an “option right”)), directly or indirectly, of 40% or more of the equity securities of the
Borrower entitled to vote for members of the board of directors or equivalent governing body of the Borrower on a fully-diluted basis (and taking into account all such securities that such person or group has the right to acquire pursuant to any
option right); 
 (b) during any period of 12 consecutive months, a majority of the members of the board of directors or other
equivalent governing body of the Borrower cease to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such period, (ii) whose election or nomination to that board or equivalent
governing body was approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or (iii) whose election or nomination to that
board or other equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body
(excluding, in the case of both clause (ii) and clause (iii), any individual whose initial nomination for, or assumption of office as, a 

 

 4 

 
member of that board or equivalent governing body occurs as a result of an actual or threatened solicitation of proxies or consents for the election or removal of one or more directors by any
person or group other than a solicitation for the election of one or more directors by or on behalf of the board of directors); 

(c) the passage of thirty days from the date upon which any Person or two or more Persons acting in concert, through one or more related
or unrelated transactions, shall have acquired by contract or otherwise, or shall have entered into a contract or arrangement that, upon consummation thereof, will result in its or their acquisition of the power to exercise, directly or indirectly,
a controlling influence over the management or policies of the Borrower, or control over the equity securities of the Borrower entitled to vote for members of the board of directors or equivalent governing body of the Borrower on a fully-diluted
basis (and taking into account all such securities that such Person or group has the right to acquire pursuant to any option right) representing 40% or more of the combined voting power of such securities; or 

(d) 100% of the Equity Interests in each Subsidiary of the Borrower ceases to be owned directly or indirectly by the Borrower (except as
a result of transactions expressly permitted by the terms of this Agreement). 
 “Closing Date” means the first
date all the conditions precedent in Section 4.01 are satisfied or waived in accordance with Section 10.01. 

“Code” means the Internal Revenue Code of 1986. 

“Commitment” means, as to each Lender, its obligation to (a) make Committed Loans to the Borrower pursuant to
Section 2.01, (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such
Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. 

“Commitment Fee” has the meaning specified in Section 2.10(a). 

“Committed Borrowing” means a borrowing consisting of simultaneous Committed Loans of the same Type and, in the case of
Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01. 

“Committed Loan” has the meaning specified in Section 2.01. 

“Committed Loan Notice” means a notice of (a) a Committed Borrowing, (b) a conversion of Committed Loans from
one Type to the other, or (c) a continuation of Eurodollar Rate Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit A. 

“Compliance Certificate” means a certificate substantially in the form of Exhibit D. 

 

 5 

 “Consolidated EBITDA” means, for any period, for the Borrower and its
Subsidiaries on a consolidated basis, Consolidated Net Income plus income taxes, Consolidated Interest Charges, depreciation, depletion, and amortization, in each case to the extent deducted from (or added to) Consolidated Net Income, without
duplication, and determined in accordance with GAAP. For purposes of calculating the Consolidated Leverage Ratio and the Adjusted Leverage Ratio, a pro forma adjustment to Consolidated EBITDA shall be made to give effect to, without duplication, the
EBITDA of Subsidiaries or operations acquired by the Borrower or any Subsidiary of the Borrower pursuant to a Material Acquisition permitted pursuant to Section 7.04(b), during the applicable Reference Period as if such Material
Acquisition had occurred, as of the first day of such Reference Period if (A) the financial statements of such acquired Subsidiary or acquisition target (in the case of an asset purchase) have been audited or reviewed for the Reference Period
sought to be included, or (B) the Administrative Agent consents to such inclusion after being furnished with such other historical financial statements and information in form and substance reasonably acceptable to the Administrative Agent.
Such Material Acquisition EBITDA may be further adjusted to add back non-recurring private company expenses which are discontinued upon acquisition (including, without limitation, excess owner’s compensation), acquisition costs, cost savings,
restructuring costs and other amounts arising from such acquisition (but only to the extent such adjustments are permitted under SEC Regulation S-X), in each case as may be reasonably approved by the Administrative Agent. For the avoidance of doubt,
in the case of any other acquisition of a company (or a division thereof) by the Borrower or any Subsidiary of the Borrower, the Borrower shall not be permitted to include the EBITDA of any such acquired company (or division) in the Borrower’s
Consolidated EBITDA calculations or to make any other EBITDA add backs or adjustments based on such acquisition without the prior written approval of the Administrative Agent and, in connection with any request for such approval, the Borrower shall
furnish to the Administrative Agent all such financial and other information regarding the acquired company (or division) as the Administrative Agent may reasonably request. 

“Consolidated Funded Indebtedness” means, as of any date of determination, for the Borrower and its Subsidiaries on a
consolidated basis, the sum, without duplication, of (a) the outstanding principal amount of all obligations, whether current or long-term, for borrowed money (including Obligations hereunder) and all obligations evidenced by bonds, debentures,
notes, loan agreements or other similar instruments, (b) all purchase money Indebtedness, (c) all direct obligations arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety
bonds and similar instruments (but excluding the aggregate amount available to be drawn with respect to Letters of Credit outstanding), (d) all obligations in respect of the deferred purchase price of property or services (other than trade
accounts payable in the ordinary course of business), (e) Attributable Indebtedness in respect of Capitalized Leases, (f) without duplication, all Guarantees with respect to outstanding Indebtedness of the types specified in clauses
(a) through (e) above of Persons other than the Borrower or any of its Subsidiaries, and (g) all Indebtedness of the types referred to in clauses (a) through (f) above of any partnership or joint venture (other than a joint
venture that is itself a corporation or limited liability company) in which the Borrower or any Subsidiary is a general partner or joint venturer, unless such Indebtedness is expressly made non-recourse to the Borrower or such Subsidiary.

  

 6 

 “Consolidated Interest Charges” means, for any period, for the Borrower and
its Subsidiaries on a consolidated basis, the aggregate amount of interest required to be paid or accrued by the Borrower during such period on all Indebtedness of the Borrower outstanding during all or any part of such period, whether such interest
was or is required to be reflected as an item of expense or capitalized, including payments consisting of interest in respect of any Capitalized Lease, and including commitment fees, letter of credit fees, agency fees, balance deficiency fees and
similar fees or expenses for such period in connection with the borrowing of money or any deferred purchase price obligation, but excluding therefrom (a) the non-cash amortization of debt issuance costs, (b) the write-off of deferred
financing fees and charges in connection with the repayment of the Existing Credit Agreement and in connection with this Agreement, in each case, that are classified as interest under GAAP and (c) any prepayment penalties or premiums.

 “Consolidated Interest Coverage Ratio” means, as of any date of determination, the ratio of
(a) Consolidated EBITDA for the Reference Period ending on such date to (b) Consolidated Interest Charges for such period. 

“Consolidated Leverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated Funded
Indebtedness as of such date to (b) Consolidated EBITDA for the Reference Period most recently ended. 

“Consolidated Net Income” means, for any period, for the Borrower and its Subsidiaries on a consolidated basis, the net
income of the Borrower and its Subsidiaries (excluding extraordinary gains, extraordinary losses and unusual items) for that period. 

“Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any
agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management
or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Credit Extension” means each of the following: (a) a Borrowing and (b) an L/C Credit Extension. 

“Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship,
bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect and affecting
the rights of creditors generally. 
 “Default” means any event or condition that constitutes an Event of
Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default. 
 “Default
Rate” means (a) when used with respect to Obligations other than Letter of Credit Fees, an interest rate equal to (i) the Base Rate plus (ii) the Applicable Rate, if any, applicable to Base Rate Loans plus
(iii) 2% per annum; provided, however, that with respect to a Eurodollar Rate Loan, the Default Rate shall be an interest rate equal to the interest rate 

 

 7 

 
(including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum, and (b) when used with respect to Letter of Credit Fees, a rate equal to the Applicable Rate plus
2% per annum. 
 “Defaulting Lender” means, subject to Section 2.18(b), any Lender that, as
determined by the Administrative Agent, (a) has failed to perform any of its funding obligations hereunder, including in respect of its Loans or participations in respect of Letters of Credit or Swing Line Loans, within three Business Days of
the date required to be funded by it hereunder, (b) has notified the Borrower, or the Administrative Agent that it does not intend to comply with its funding obligations or has made a public statement to that effect with respect to its funding
obligations hereunder or under other agreements in which it commits to extend credit, (c) has failed, within three Business Days after request by the Administrative Agent, to confirm in a manner satisfactory to the Administrative Agent that it
will comply with its funding obligations, or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had a receiver, conservator, trustee, administrator,
assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or a custodian appointed for it, or (iii) taken any action in furtherance of, or indicated its consent to, approval of or
acquiescence in any such proceeding or appointment; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a
Governmental Authority. 
 “Disposition” or “Dispose” means the sale, transfer, license, lease
or other disposition (including any sale and leaseback transaction) of any property by any Person, including any sale, assignment (other than a collateral assignment), transfer or other disposal, with or without recourse, of any notes or accounts
receivable or any rights and claims associated therewith. 
 “Dollar” and “$” mean lawful
money of the United States. 
 “Domestic Subsidiary” means any Subsidiary that is organized under the laws of
any political subdivision of the United States. 
 “Eligible Assignee” means any Person that meets the
requirements to be an assignee under Section 10.06(b)(iii), and (v) (subject to such consents, if any, as may be required under Section 10.06(b)(iii)). 

“Environmental Laws” means any and all Federal, state, local, and foreign statutes, laws, regulations, ordinances,
rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the release of any materials into the environment,
including those related to hazardous substances or wastes, air emissions and discharges to waste or public systems. 

“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of
environmental remediation, fines, penalties or indemnities), of the Borrower or any of its Subsidiaries directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling,
transportation, storage, 
  

 8 

 
treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or
(e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

“Equity Interests” means, with respect to any Person, all of the shares of capital stock of any class of, or other
ownership or profit interests in, such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such Person, all of the securities
convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or such other interests), and all
of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other interests are outstanding on any
date of determination. 
 “ERISA” means the Employee Retirement Income Security Act of 1974. 

“ERISA Affiliate” means any trade or business (whether or not incorporated) under common control with the Borrower
within the meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code). 

“ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) the withdrawal of the Borrower
or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which such entity was a “substantial employer” as defined in Section 4001(a)(2) of ERISA or a cessation of operations that is
treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by the Borrower or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization; (d) the
filing of a notice of intent to terminate, the treatment of a Pension Plan amendment as a termination under Section 4041 or 4041A of ERISA; (e) the institution by the PBGC of proceedings to terminate a Pension Plan; (f) any event or
condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (g) the determination that any Pension Plan is considered an at-risk plan or a plan in
endangered or critical status within the meaning of Sections 430, 431 and 432 of the Code or Sections 303, 304 and 305 of ERISA; or (h) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent
under Section 4007 of ERISA, upon the Borrower or any ERISA Affiliate. 
 “Eurodollar Rate” means:

 (a) for any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum equal to (i) the British Bankers
Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or such other commercially available source providing quotations of BBA LIBOR as may be designated by the Administrative Agent from time to time) at approximately 11:00
a.m., London time, two (2) London Banking Days prior to the commencement of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period) with a term equivalent to

  

 9 

 
such Interest Period or, (ii) if such rate is not available at such time for any reason, the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars
for delivery on the first day of such Interest Period in same day funds in the approximate amount of the Eurodollar Rate Loan being made, continued or converted and with a term equivalent to such Interest Period would be offered by Bank of
America’s London Branch to major banks in the London interbank eurodollar market at their request at approximately 11:00 a.m. (London time) two London Banking Days prior to the commencement of such Interest Period; and 

(b) for any interest calculation with respect to a Base Rate Loan on any date, the rate per annum equal to (i) BBA LIBOR, at
approximately 11:00 a.m., London time determined two London Banking Days prior to such date for Dollar deposits being delivered in the London interbank market for a term of one month commencing that day or (ii) if such published rate is not
available at such time for any reason, the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery on the date of determination in same day funds in the approximate amount of the Base Rate Loan
being made or maintained and with a term equal to one month would be offered by Bank of America’s London Branch to major banks in the London interbank Eurodollar market at their request at the date and time of determination. 

“Eurodollar Rate Loan” means a Loan that bears interest at a rate based on clause (a) of the definition of
“Eurodollar Rate.” 
 “Event of Default” has the meaning specified in Section 8.01.

 “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, the L/C Issuer or any other
recipient of any payment to be made by or on account of any obligation of the Borrower hereunder, (a) taxes imposed on or measured by its overall net income (however denominated), and franchise taxes imposed on it (in lieu of net income taxes),
by the jurisdiction (or any political subdivision thereof) under the Laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable Lending Office is located),
(b) any branch profits taxes imposed by the United States or any similar tax imposed by any other jurisdiction in which the Borrower is located, (c) any backup withholding tax that is required by the Code to be withheld from amounts
payable to a Lender that has failed to comply with clause (A) of Section 3.01(e)(ii), and (d) in the case of a Foreign Lender (other than an assignee pursuant to a request by the Borrower under Section 10.13), any
United States withholding tax that (i) is required to be imposed on amounts payable to such Foreign Lender pursuant to the Laws in force at the time such Foreign Lender becomes a party hereto (or designates a new Lending Office) or (ii) is
attributable to such Foreign Lender’s failure or inability (other than as a result of a Change in Law) to comply with clause (B) of Section 3.01(e)(ii), except to the extent that such Foreign Lender (or its assignor, if any)
was entitled, at the time of designation of a new Lending Office (or assignment), to receive additional amounts from the Borrower with respect to such withholding tax pursuant to Section 3.01(a)(ii) or (c). 

“Existing Credit Agreement” means that certain Credit Agreement, dated August 12, 2005, by and among the Borrower,
JPMorgan Chase Bank, N.A., as administrative agent thereunder, and the lenders party thereto, including Bank of America. 
  

 10 

 “Existing Letters of Credit” means the “Letters of Credit” (as
defined in the Existing Credit Agreement), as set forth on Schedule 1.01(a). 
 “Existing Term Loan
Agreements” mean each of (i) the Term Loan Agreement, dated September 6, 2006, among the Borrower, Wells Fargo Bank N.A., as administrative agent thereunder, and the lenders party thereto, as amended prior to the Closing Date, and
(ii) the Term Loan Agreement, dated March 7, 2008, among the Borrower, Wells Fargo Bank N.A., as administrative agent thereunder, and the lenders party thereto, as amended prior to the Closing Date. 

“Existing Term Loans” means the term loan Indebtedness existing as of the Closing Date and designated such on
Schedule 1.01(b). 
 “FASB ASC” means the Accounting Standards Codification of the Financial Accounting
Standards Board. 
 “Federal Funds Rate” means, for any day, the rate per annum equal to
the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next
succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and
(b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of
 1/100 of 1%) charged to Bank of America on such day
on such transactions as determined by the Administrative Agent. 
 “Fee Letter” means the letter
agreement, dated June 29, 2010, among the Borrower, the Administrative Agent and the Arranger. 
 “Foreign
Lender” means any Lender that is organized under the Laws of a jurisdiction other than that in which the Borrower is resident for tax purposes (including such a Lender when acting in the capacity of the L/C Issuer). For purposes of this
definition, the United States, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 

“FRB” means the Board of Governors of the Federal Reserve System of the United States. 

“Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect to the L/C Issuer, such
Defaulting Lender’s Applicable Percentage of the outstanding L/C Obligations other than L/C Obligations as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized in
accordance with the terms hereof, and (b) with respect to the Swing Line Lender, such Defaulting Lender’s Applicable Percentage of Swing Line Loans other than Swing Line Loans as to which such Defaulting Lender’s participation
obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof. 
  

 11 

 “Fund” means any Person (other than a natural person) that is (or will be)
engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its activities. 

“GAAP” means generally accepted accounting principles in the United States set forth in the opinions and pronouncements
of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be approved by a significant segment of the
accounting profession in the United States, that are applicable to the circumstances as of the date of determination, consistently applied. 

“Governmental Authority” means the government of the United States or any other nation, or of any political subdivision
thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining
to government (including any supra-national bodies such as the European Union or the European Central Bank). 

“Guarantee” means, as to any Person, (a) any obligation, contingent or otherwise, of such Person guaranteeing or
having the economic effect of guaranteeing any Indebtedness of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or
pay (or advance or supply funds for the purchase or payment of) such Indebtedness, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such Indebtedness or the payment or performance
of such Indebtedness, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness
or other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or
in part), or (b) any Lien on any assets of such Person securing any Indebtedness or other obligation of any other Person, whether or not such Indebtedness or other obligation is assumed by such Person (or any right, contingent or otherwise, of
any holder of such Indebtedness to obtain any such Lien); provided, that the term “Guarantee” shall not include endorsements for collection or deposit, in either case in the ordinary course of business. The amount of any Guarantee
shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated
liability in respect thereof as determined by the guaranteeing Person in good faith. The term “Guarantee” as a verb has a corresponding meaning. 

“Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances,
wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated
pursuant to any Environmental Law. 
 “Increase Effective Date” has the meaning specified in
Section 2.16(d). 
  

 12 

 “Indebtedness” means, as to any Person at a particular time, without
duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP: 
 (a) all
obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments; 

(b) all direct or contingent obligations of such Person arising under letters of credit (including standby and commercial), bankers’
acceptances, bank guaranties, surety bonds and similar instruments; 
 (c) net obligations of such Person under any Swap
Contract; 
 (d) all obligations of such Person to pay the deferred purchase price of property or services (other than trade
accounts payable in the ordinary course of business which (i) are not more than 30 days past due in accordance with their terms, (ii) are not past due in accordance with the Borrower’s normal or ordinary business practices, or
(iii) are being contested in good faith by such Person (so long as adequate reserves are being maintained in respect thereof in accordance with GAAP); 

(e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including
indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse; 

(f) all Attributable Indebtedness in respect of Capitalized Leases; 

(g) all sales by such Person of (i) accounts or general intangibles for money due or to become due, (ii) chattel paper,
instruments or documents creating or evidencing a right to payment of money or (iii) other receivables (collectively “receivables”), whether pursuant to a purchase facility or otherwise, other than in connection with the disposition
of the business operations of such Person relating thereto or a disposition of defaulted receivables for collection and not as a financing arrangement, and together with any obligation of such Person to pay any discount, interest, fees, indemnities,
penalties, recourse, expenses or other amounts in connection therewith; 
 (g) all obligations of such Person to purchase,
redeem, retire, defease or otherwise make any payment in respect of any Equity Interest in such Person or any other Person, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference
plus accrued and unpaid dividends; and 
 (h) all Guarantees of such Person in respect of any of the foregoing. 

For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture (other than a
joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made non-recourse to such Person. The amount of any net obligation under
any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date. The amount of any capital lease as of any date shall be deemed to be the amount of Attributable Indebtedness in respect thereof as of such date.

  

 13 

 “Indemnified Taxes” means Taxes other than Excluded Taxes and Other Taxes.

 “Indemnitees” has the meaning specified in Section 10.04(b). 

“Information” has the meaning specified in Section 10.07. 

“Interest Payment Date” means, (a) as to any Loan other than a Base Rate Loan, the last day of each Interest Period
applicable to such Loan and the Maturity Date; provided, however, that if any Interest Period for a Eurodollar Rate Loan exceeds three months, the respective dates that fall every three months after the beginning of such Interest Period shall also
be Interest Payment Dates; and (b) as to any Base Rate Loan (including a Swing Line Loan), the last Business Day of each March, June, September and December and the Maturity Date. 

“Interest Period” means as to each Eurodollar Rate Loan, the period commencing on the date such Eurodollar Rate Loan is
disbursed or converted to or continued as a Eurodollar Rate Loan and ending on the date one, two, three or six months thereafter, as selected by the Borrower in a Committed Loan Notice, and subject in all cases to the availability thereof from each
Lender; provided that: 
 (i) any Interest Period that would otherwise end on a day that is not a Business Day shall be extended
to the next succeeding Business Day unless, in the case of a Eurodollar Rate Loan, such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day; 

(ii) any Interest Period pertaining to a Eurodollar Rate Loan that begins on the last Business Day of a calendar month (or on a day for
which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and 

(iii) no Interest Period shall extend beyond the Maturity Date. 

“IP Rights” has the meaning specified in Section 5.18. 

“IRS” means the United States Internal Revenue Service. 

“ISP” means, with respect to any Letter of Credit, the “International Standby Practices 1998” published by the
Institute of International Banking Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance). 

“Issuer Documents” means with respect to any Letter of Credit, the Letter of Credit Application, and any other document,
agreement and instrument entered into by the L/C Issuer and the Borrower (or any Subsidiary) or in favor of the L/C Issuer and relating to such Letter of Credit. 

 

 14 

 “Laws” means, collectively, all international, foreign, Federal, state and
local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement,
interpretation or administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of
law. 
 “L/C Advance” means, with respect to each Lender, such Lender’s funding of its participation in
any L/C Borrowing in accordance with its Applicable Percentage. 
 “L/C Borrowing” means an extension of credit
resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Committed Borrowing. 

“L/C Credit Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date
thereof, or the increase of the amount thereof. 
 “L/C Issuer” means (i) Bank of America in its capacity
as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder, and (ii) solely with respect to the Existing Letters of Credit, JPMorgan Chase Bank, N.A. 

“L/C Obligations” means, as at any date of determination, without duplication, the aggregate amount available to be
drawn on such date under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts on such date, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount
of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by
reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. 

“Lender” has the meaning specified in the introductory paragraph hereto and, as the context requires, includes the Swing
Line Lender. 
 “Lending Office” means, as to any Lender, the office or offices of such Lender described as
such in such Lender’s Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Borrower and the Administrative Agent. 

“Letter of Credit” means any standby letter of credit issued hereunder and shall include the Existing Letters of Credit.

 “Letter of Credit Application” means an application and agreement for the issuance or amendment of a Letter
of Credit in the form from time to time in use by the L/C Issuer. 
 “Letter of Credit Expiration Date” means
the day that is seven days prior to the Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business Day). 
  

 15 

 “Letter of Credit Fee” has the meaning specified in
Section 2.04(h). 
 “Letter of Credit Sublimit” means an amount equal to $25,000,000. The Letter of
Credit Sublimit is part of, and not in addition to, the Aggregate Commitments. 
 “Lien” means any mortgage,
pledge, hypothecation, collateral assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or
nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any financing lease having substantially the same economic effect as any of the
foregoing). 
 “Loan” means an extension of credit by a Lender to the Borrower under Article II in the form of
a Committed Loan or a Swing Line Loan. 
 “Loan Documents” means this Agreement, each Note, each Issuer
Document, any agreement creating or perfecting rights in Cash Collateral pursuant to the provisions of Section 2.17 of this Agreement, and the Fee Letter. 

“London Banking Day” means any day on which dealings in Dollar deposits are conducted by and between banks in the London
interbank eurodollar market. 
 “Material Acquisition” means any acquisition or series of related acquisitions
permitted under Section 7.04(b) for which the aggregate consideration to be paid by the Borrower in connection therewith (including deferred cash payments, contingent or otherwise, and the aggregate amount of all liabilities assumed or,
in the case of an acquisition of the Equity Interests of the acquisition target, including all liabilities of such acquisition target) is equal to or exceeds $25,000,000. 

“Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the
operations, business, properties, liabilities (actual or contingent), condition (financial or otherwise) or prospects of the Borrower and its Subsidiaries taken as a whole; (b) a material impairment of the ability of the Borrower to perform its
obligations under any Loan Document to which it is a party; or (c) a material adverse effect upon (i) the legality, validity, binding effect or enforceability against the Borrower of any Loan Document to which it is a party or
(ii) the rights and remedies of the Administrative Agent, on behalf of itself and the Lenders, under the Loan Documents. 

“Material Contract” means a “material contract” as defined in Item 601(b)(10) of SEC Regulation S-K.

 “Maturity Date” means August 12, 2013. 

“Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which
the Borrower or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions. 
  

 16 

 “Multiple Employer Plan” means a Plan which has two or more contributing
sponsors (including the Borrower or any ERISA Affiliate) at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA. 

“Note” means a promissory note made by the Borrower in favor of a Lender evidencing Loans made by such Lender,
substantially in the form of Exhibit C. 
 “Obligations” means all advances to, and debts, liabilities,
obligations, covenants and duties of, the Borrower arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to
become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against the Borrower or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in
such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding. 
 “Organizational
Documents” means, (a) with respect to any corporation, the certificate or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to
any limited liability company, the certificate or articles of formation or organization and operating agreement; and (c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or
other applicable agreement of formation or organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its
formation or organization and including, if applicable, any certificate or articles of formation or organization of such entity. 

“Other Taxes” means all present or future stamp or documentary taxes or any other excise or property taxes, charges or
similar levies arising from any payment made hereunder or under any other Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other Loan Document. 

“Outstanding Amount” means (i) with respect to Committed Loans and Swing Line Loans on any date, the aggregate
outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of Committed Loans and Swing Line Loans, as the case may be, occurring on such date; and (ii) with respect to any L/C Obligations on any
date, the amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate amount of the L/C Obligations as of such date, including as a result of any
reimbursements by the Borrower of Unreimbursed Amounts. 
 “Participant” has the meaning specified in
Section 10.06(d). 
 “PBGC” means the Pension Benefit Guaranty Corporation. 

“Pension Act” means the Pension Protection Act of 2006. 

“Pension Funding Rules” means the rules of the Code and ERISA regarding minimum required contributions (including any
installment payment thereof) to Pension Plans and set forth 
  

 17 

 
in, with respect to plan years ending prior to the effective date of the Pension Act, Section 412 of the Code and Section 302 of ERISA, each as in effect prior to the Pension Act and,
thereafter, Section 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA. 
 “Pension
Plan” means any employee pension benefit plan (including a Multiple Employer Plan or a Multiemployer Plan) that is maintained or is contributed to by the Borrower and any ERISA Affiliate and is either covered by Title IV of ERISA or is
subject to the minimum funding standards under Section 412 of the Code. 
 “Person” means any natural
person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. 

“Plan” means any employee benefit plan within the meaning of Section 3(3) of ERISA (including a Pension Plan),
maintained for employees of any Borrower or any ERISA Affiliate or any such Plan to which the Borrower or any ERISA Affiliate is required to contribute on behalf of any of its employees. 

“Platform” has the meaning specified in Section 6.02. 

“Proposed Term Loan Liens” has the meaning specified in Section 7.01. 

“Public Lender” has the meaning specified in Section 6.02. 

“Reference Period” means as of any date of determination, the period of four (4) consecutive fiscal quarters of the
Borrower or the twelve (12) month period ending on such date, or if such date is not a fiscal quarter end date, the period of four (4) consecutive fiscal quarters or the twelve (12) month period most recently ended (in each case
treated as a single accounting period). 
 “Register” has the meaning specified in
Section 10.06(c). 
 “Related Parties” means, with respect to any Person, such Person’s
Affiliates and the partners, directors, officers, employees, agents, trustees and advisors of such Person and of such Person’s Affiliates. 

“Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the
30 day notice period has been waived. 
 “Request for Credit Extension” means (a) with respect to a
Borrowing, conversion or continuation of Committed Loans, a Committed Loan Notice, (b) with respect to an L/C Credit Extension, a Letter of Credit Application, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice.

 “Required Lenders” means, as of any date of determination, Lenders having more than 50% of the Aggregate
Commitments or, if the commitment of each Lender to make Loans and the obligation of the L/C Issuer to make L/C Credit Extensions have been terminated pursuant to Section 8.02, Lenders holding in the aggregate more than 50% of the Total
Outstandings (with the aggregate amount of each Lender’s risk participation and funded participation in L/C 
  

 18 

 
Obligations and Swing Line Loans being deemed “held” by such Lender for purposes of this definition); provided, that if, at the relevant date of reference, there are only two or
three Lenders holding Commitments, at least two Lenders shall be required to constitute “Required Lenders”; and provided, further, that the Commitment of, and the portion of the Total Outstandings held or deemed held by, any
Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders. 
 “Responsible
Officer” means the chief executive officer, president, chief financial officer, chief accounting officer, chief operating officer, treasurer or assistant treasurer of the Borrower, and solely for purposes of the delivery of incumbency
certificates pursuant to Section 4.01, the secretary or any assistant secretary of the Borrower. Any document delivered hereunder that is signed by a Responsible Officer of the Borrower shall be conclusively presumed to have been
authorized by all necessary corporate, partnership and/or other action on the part of the Borrower and such Responsible Officer shall be conclusively presumed to have acted on behalf of the Borrower. 

“Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property) with
respect to any capital stock or other Equity Interest of the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption,
retirement, acquisition, cancellation or termination of any such capital stock or other Equity Interest, or on account of any return of capital to the Borrower’s stockholders, partners or members (or the equivalent Person thereof); in each
case, other than to any wholly owned Subsidiary of the Borrower or to the Borrower. 
 “SEC” means the
Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal functions. 

“Solvent” and “Solvency” mean, with respect to any Person on any date of determination, that on such
date (a) the fair value of the property of such Person is greater than the total amount of liabilities, including contingent liabilities, of such Person, (b) the present fair salable value of the assets of such Person is not less than the
amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such
Person’s ability to pay such debts and liabilities as they mature, (d) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s property would constitute
an unreasonably small capital, and (e) such Person is able to pay its debts and liabilities, contingent obligations and other commitments as they mature in the ordinary course of business. The amount of contingent liabilities at any time shall
be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 

“Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other business
entity of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests having such power only by reason of the happening of a
contingency) are at the time beneficially owned, or the management of which is otherwise controlled, directly, or 
  

 19 

 
indirectly through one or more intermediaries, or both, by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to
a Subsidiary or Subsidiaries of the Borrower. 
 “Swap Contract” means (a) any and all rate swap
transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or
forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap
transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to
any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and
Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or
liabilities under any Master Agreement. 
 “Swap Termination Value” means, in respect of any one or more Swap
Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in
accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market
or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender). 

“Swing Line Borrowing” means a borrowing of a Swing Line Loan pursuant to Section 2.05. 

“Swing Line Lender” means Bank of America in its capacity as provider of Swing Line Loans, or any successor swing line
lender hereunder. 
 “Swing Line Loan” has the meaning specified in Section 2.05(a). 

“Swing Line Loan Notice” means a notice of a Swing Line Borrowing pursuant to Section 2.05(b), which, if in
writing, shall be substantially in the form of Exhibit B. 
 “Swing Line Sublimit” means an amount equal to the
lesser of (a) $5,000,000 and (b) the Aggregate Commitments. The Swing Line Sublimit is part of, and not in addition to, the Aggregate Commitments. 

“Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup
withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

 

 20 

 “Total Outstandings” means the aggregate Outstanding Amount of all Loans
and all L/C Obligations. 
 “Type” means with respect to a Committed Loan, its character as a Base Rate Loan or
a Eurodollar Rate Loan. 
 “United States” and “U.S.” mean the United States of America.

 “Unreimbursed Amount” has the meaning specified in Section 2.04(c)(i). 

1.02 Other Interpretive Provisions. With reference to this Agreement and each other Loan Document, unless otherwise specified
herein or in such other Loan Document: 
 (a) The definitions of terms herein shall apply equally to the singular and plural
forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be
followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (i) any definition of or reference to
any agreement, instrument or other document (including any Organizational Document) shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any
restrictions on such amendments, supplements or modifications set forth herein or in any other Loan Document), (ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (iii) the words
“hereto,” “herein,” “hereof” and “hereunder,” and words of similar import when used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and not to any particular provision
thereof, (iv) all references in a Loan Document to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, the Loan Document in which such references appear,
(v) any reference to any law shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting such law and any reference to any law or regulation shall, unless otherwise specified, refer to such law or
regulation as amended, modified or supplemented from time to time, and (vi) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets
and properties, including cash, securities, accounts and contract rights. 
 (b) In the computation of periods of time from a
specified date to a later specified date, the word “from” means “from and including;” the words “to” and “until” each mean “to but excluding;” and the word “through” means “to and
including.” 
 (c) Section headings herein and in the other Loan Documents are included for convenience of reference only
and shall not affect the interpretation of this Agreement or any other Loan Document. 
 1.03 Accounting Terms.

 (a) Generally. All accounting terms not specifically or completely defined herein shall be construed in conformity
with, and all financial data (including financial ratios and 
  

 21 

 
other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, as in effect from time to time, applied
in a manner consistent with that used in preparing the Audited Financial Statements, except as otherwise specifically prescribed herein. Notwithstanding the foregoing, for purposes of determining compliance with any covenant (including the
computation of any financial covenant) contained herein, Indebtedness of the Borrower and its Subsidiaries shall be deemed to be carried at 100% of the outstanding principal amount thereof, and the effects of FASB ASC 825 on financial liabilities
shall be disregarded. 
 (b) Changes in GAAP. If at any time any change in GAAP would affect the computation of any
financial ratio or requirement set forth in any Loan Document, and either the Borrower or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement
to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP
prior to such change therein and (ii) the Borrower shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a
reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP. 

(c) Consolidation of Variable Interest Entities. All references herein to consolidated financial statements of the Borrower and
its Subsidiaries or to the determination of any amount for the Borrower and its Subsidiaries on a consolidated basis or any similar reference shall, in each case, be deemed to include each variable interest entity that the Borrower is required to
consolidate pursuant to FASB Interpretation No. 46 – Consolidation of variable Interest Entities: an interpretation of ARB No. 51 (January 2003) as if such variable interest entity were a Subsidiary as defined herein. 

1.04 Rounding. Any financial ratios required to be maintained by the Borrower pursuant to this Agreement shall be
calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a
rounding-up if there is no nearest number). 
 1.05 Times of Day. Unless otherwise specified, all references
herein to times of day shall be references to Eastern time (daylight or standard, as applicable). 
 1.06 Letter of Credit
Amounts. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit
that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of
Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time. 
  

 22 

 ARTICLE 2. 

THE COMMITMENTS AND CREDIT EXTENSIONS 

2.01 Committed Loans. Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans
(each such loan, a “Committed Loan”) to the Borrower from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Commitment;
provided, however, that after giving effect to any Committed Borrowing, (i) the Total Outstandings shall not exceed the Aggregate Commitments, and (ii) the aggregate Outstanding Amount of the Committed Loans of any Lender, plus such
Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Commitment. Within the limits
of each Lender’s Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01, prepay under Section 2.06, and reborrow under this Section 2.01. Committed
Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein. The Borrower promises to pay to the Administrative Agent, for the account of the Lenders, in accordance with their respective Applicable Percentages, all amounts due
under the Committed Loans on the Maturity Date or such earlier date as required hereunder. 
 2.02 Borrowings, Conversions
and Continuations of Committed Loans. 
 (a) Each Committed Borrowing, each conversion of Committed Loans from one Type to
the other, and each continuation of Eurodollar Rate Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by telephone. Each such notice must be received by the Administrative Agent not later
than 11:00 a.m. (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Committed Loans, and (ii) on the
requested date of any Borrowing of Base Rate Committed Loans. Each telephonic notice by the Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent of a written Committed Loan Notice,
appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof.
Except as provided in Sections 2.04(c) and 2.05(c), each Borrowing of or conversion to Base Rate Committed Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each Committed Loan Notice
(whether telephonic or written) shall specify (i) whether the Borrower is requesting a Committed Borrowing, a conversion of Committed Loans from one Type to the other, or a continuation of Eurodollar Rate Loans, (ii) the requested date of
the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Committed Loans to be borrowed, converted or continued, (iv) the Type of Committed Loans to be borrowed or to
which existing Committed Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Committed Loan in a Committed Loan Notice or if the Borrower fails
to give a timely notice requesting a conversion or continuation, then the applicable Committed Loans shall be made as, or converted to, Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the
Interest Period then in effect with respect to the applicable Eurodollar Rate Loans. If the Borrower requests a Borrowing of, conversion to, or continuation 

 

 23 

 
of Eurodollar Rate Loans in any such Committed Loan Notice, but fail to specify an Interest Period, they will be deemed to have specified an Interest Period of one month. Notwithstanding anything
to the contrary contained herein, a Swing Line Loan may not be converted to a Eurodollar Rate Loan. 
 (b) Following receipt of
a Committed Loan Notice, the Administrative Agent shall promptly notify each Lender of the amount of its Applicable Percentage of the applicable Committed Loans, and if no timely notice of a conversion or continuation is provided by the Borrower,
the Administrative Agent shall notify each Lender of the details of any automatic conversion to Base Rate Loans described in the preceding subsection. In the case of a Committed Borrowing or any other Borrowing (as applicable), each applicable
Lender shall make the amount of its Committed Loan available to the Administrative Agent in immediately available funds at the Administrative Agent’s Office not later than 1:00 p.m. on the Business Day specified in the applicable Committed Loan
Notice. Upon satisfaction of the applicable conditions set forth in Section 4.02 (and, if such Borrowing is the initial Credit Extension, Section 4.01), the Administrative Agent shall make all funds so received available to
the Borrower in like funds as received by the Administrative Agent either by (i) crediting the account of the Borrower on the books of Bank of America with the amount of such funds or (ii) wire transfer of such funds, in each case in
accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower; provided, however, that if, on the date the Committed Loan Notice with respect to a Committed Borrowing is given by the Borrower, there
are L/C Borrowings outstanding, then the proceeds of such Committed Borrowing, first, shall be applied to the payment in full of any such L/C Borrowings, and second, shall be made available to the Borrower as provided above. 

(c) Except as otherwise provided herein, a Eurodollar Rate Loan may be continued or converted only on the last day of an Interest Period
for such Eurodollar Rate Loan. During the existence of a Default, no Loans may be requested as, converted to or continued as Eurodollar Rate Loans without the consent of the Required Lenders. 

(d) The Administrative Agent shall promptly notify the Borrower and the Lenders of the interest rate applicable to any Interest Period
for Eurodollar Rate Loans upon determination of such interest rate. At any time that Base Rate Loans are outstanding, the Administrative Agent shall notify the Borrower and the Lenders of any change in Bank of America’s prime rate used in
determining the Base Rate promptly following the public announcement of such change. 
 (e) After giving effect to all Committed
Borrowings, all conversions of Committed Loans from one Type to the other, and all continuations of Committed Loans as the same Type, there shall not be more than ten (10) Interest Periods in effect with respect to Committed Loans. 

2.03 Reserved. 
  

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 2.04 Letters of Credit. 

(a) The Letter of Credit Commitment. 

(i) Subject to the terms and conditions set forth herein, (A) the L/C Issuer, in reliance upon the agreements of the
Lenders set forth in this Section 2.04, agrees (1) from time to time on any Business Day during the period from the Closing Date until the Letter of Credit Expiration Date, to issue Letters of Credit for the account of the Borrower,
and to amend or extend Letters of Credit previously issued by it, in accordance with subsection (b) below, and (2) to honor drawings under the Letters of Credit; and (B) the Lenders severally agree to participate in Letters of Credit
issued for the account of the Borrower and any drawings thereunder; provided that after giving effect to any L/C Credit Extension with respect to any Letter of Credit, (x) the Total Outstandings shall not exceed the Aggregate Commitments,
(y) the aggregate Outstanding Amount of the Committed Loans of any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount
of all Swing Line Loans shall not exceed such Lender’s Commitment, and (z) the Outstanding Amount of the L/C Obligations shall not exceed the Letter of Credit Sublimit. Each request by the Borrower for the issuance or amendment of a Letter
of Credit shall be deemed to be a representation by the Borrower that the L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the terms and
conditions hereof, the Borrower’s ability to obtain Letters of Credit shall be fully revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have
been drawn upon and reimbursed. All Existing Letters of Credit shall be deemed to have been issued pursuant hereto, and from and after the Closing Date shall be subject to and governed by the terms and conditions hereof. 

(ii) The L/C Issuer shall not issue any Letter of Credit, if: 

(A) subject to Section 2.04(b)(iii), the expiry date of the requested Letter of Credit would occur more than
twelve months after the date of issuance or last extension, unless the Required Lenders have approved such expiry date; or 

(B) the expiry date of such requested Letter of Credit would occur after the Letter of Credit Expiration Date, unless the
Required Lenders have approved such expiry date (it being agreed that following the Maturity Date, any outstanding Letter of Credit would be required to be Cash Collateralized by the Borrower in accordance with Section 2.17). 

(iii) The L/C Issuer shall not be under any obligation to issue any Letter of Credit if: 

(A) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or
restrain the L/C Issuer from issuing the Letter of Credit, or any Law applicable to the L/C Issuer or any request or directive (whether or not having the force of 

 

 25 

 
law) from any Governmental Authority with jurisdiction over the L/C Issuer shall prohibit, or request that the L/C Issuer refrain from, the issuance of letters of credit generally or the Letter
of Credit in particular or shall impose upon the L/C Issuer with respect to the Letter of Credit any restriction, reserve or capital requirement (for which the L/C Issuer is not otherwise compensated hereunder) not in effect on the Closing Date, or
shall impose upon the L/C Issuer any unreimbursed loss, cost or expense which was not applicable on the Closing Date and which the L/C Issuer in good faith deems material to it; 

(B) the issuance of the Letter of Credit would violate one or more policies of the L/C Issuer applicable to letters of
credit generally; 
 (C) [Reserved]; 

(D) such Letter of Credit is to be denominated in a currency other than Dollars; or 

(E) any Lender is at that time a Defaulting Lender, unless the L/C Issuer has entered into arrangements, including the
delivery of Cash Collateral, satisfactory to the L/C Issuer (in its sole discretion) with the Borrower or such Lender to eliminate the L/C Issuer’s actual or potential Fronting Exposure (after giving effect to Section 2.18(a)(iv))
with respect to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to which the L/C Issuer has actual or potential Fronting Exposure, as it may elect in
its sole discretion. 
 (iv) The L/C Issuer shall not amend any Letter of Credit if the L/C Issuer would not be
permitted at such time to issue the Letter of Credit in its amended form under the terms hereof. 
 (v) The L/C
Issuer shall be under no obligation to amend any Letter of Credit if (A) the L/C Issuer would have no obligation at such time to issue the Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of the Letter of
Credit does not accept the proposed amendment to the Letter of Credit. 
 (vi) The L/C Issuer shall act on behalf
of the Lenders with respect to any Letters of Credit issued by it and the documents associated therewith, and the L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article IX with respect to
any acts taken or omissions suffered by the L/C Issuer in connection with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative
Agent” as used in Article IX included the L/C Issuer with respect to such acts or omissions, and (B) as additionally provided herein with respect to the L/C Issuer. 

 

 26 

 (vii) No Existing Letter of Credit will be extended, renewed or amended
without the consent of the Administrative Agent. 
 (b) Procedures for Issuance and Amendment of Letters of Credit.

 (i) Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the Borrower
delivered to the L/C Issuer (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of the Borrower. Such Letter of Credit Application must be received by
the L/C Issuer and the Administrative Agent not later than 11:00 a.m. at least two Business Days (or such later date and time as the Administrative Agent and the L/C Issuer may agree in a particular instance in their sole discretion) prior to the
proposed issuance date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the L/C Issuer: (A) the
proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the documents to be presented
by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; (G) the purpose and nature of the requested Letter of Credit; and
(H) such other matters as the L/C Issuer may require. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the L/C Issuer (w) the
Letter of Credit to be amended; (x) the proposed date of amendment thereof (which shall be a Business Day); (y) the nature of the proposed amendment; and (z) such other matters as the L/C Issuer may require. Additionally, the Borrower
shall furnish to the L/C Issuer and the Administrative Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as the L/C Issuer or the Administrative Agent may
require. 
 (ii) Promptly after receipt of any Letter of Credit Application, the L/C Issuer will confirm with the
Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the Borrower and, if not, the L/C Issuer will provide the Administrative Agent with a copy thereof. Unless
the L/C Issuer has received written notice from any Lender, the Administrative Agent or the Borrower, at least one Business Day prior to the requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable
conditions contained in Article IV shall not then be satisfied, then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date, issue a Letter of Credit for the account of the Borrower or enter into the applicable
amendment, as the case may be, in each case in accordance with the L/C Issuer’s usual and customary business practices. Immediately upon the issuance of each Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and
unconditionally agrees to, purchase from the L/C Issuer a risk participation in such Letter of Credit in an amount equal to the product of such Lender’s Applicable Percentage times the amount of such Letter of Credit. 

 

 27 

 (iii) If the Borrower so requests in any applicable Letter of Credit
Application, the L/C Issuer may, in its sole discretion, agree to issue a Letter of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit
must permit the L/C Issuer to prevent any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the
“Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by the L/C Issuer, the Borrower shall not be required to make a specific request
to the L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) the L/C Issuer to permit the extension of such Letter of Credit at any time to an
expiry date not later than the Letter of Credit Expiration Date; provided, however, that the L/C Issuer shall not permit any such extension if (A) the L/C Issuer has determined that it would not be permitted, or would have no obligation, at
such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof (by reason of the provisions of clause (ii) or (iii) of Section 2.04(a) or otherwise), or (B) it has received notice (which
may be by telephone or in writing) on or before the day that is seven Business Days before the Non-Extension Notice Date (1) from the Administrative Agent that the Required Lenders have elected not to permit such extension or (2) from the
Administrative Agent, any Lender or the Borrower that one or more of the applicable conditions specified in Section 4.02 is not then satisfied, and in each such case directing the L/C Issuer not to permit such extension. 

(iv) Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with
respect thereto or to the beneficiary thereof, the L/C Issuer will also deliver to the Borrower and the Administrative Agent a true and complete copy of such Letter of Credit or amendment. 

(c) Drawings and Reimbursements; Funding of Participations. 

(i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the
L/C Issuer shall notify the Borrower and the Administrative Agent thereof. Not later than 11:00 a.m. on the date of any payment by the L/C Issuer under a Letter of Credit (each such date, an “Honor Date”), the Borrower shall
reimburse the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If the Borrower fail to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each Lender of the Honor
Date, the amount of the unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such Lender’s Applicable Percentage thereof. In such event, the Borrower shall be

  

 28 

 
deemed to have requested a Committed Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples
specified in Section 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Aggregate Commitments and the conditions set forth in Section 4.02 (other than the delivery of
a Committed Loan Notice). Any notice given by the L/C Issuer or the Administrative Agent pursuant to this Section 2.04(c)(i) may be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate
confirmation shall not affect the conclusiveness or binding effect of such notice. 
 (ii) Each Lender shall upon
any notice pursuant to Section 2.04(c)(i) make funds available (and the Administrative Agent may apply Cash Collateral provided for this purpose) for the account of the L/C Issuer at the Administrative Agent’s Office in an amount
equal to its Applicable Percentage of the Unreimbursed Amount not later than 1:00 p.m. on the Business Day specified in such notice by the Administrative Agent, whereupon, subject to the provisions of Section 2.04(c)(iii), each Lender
that so makes funds available shall be deemed to have made a Base Rate Committed Loan to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the L/C Issuer. 

(iii) With respect to any Unreimbursed Amount that is not fully refinanced by a Committed Borrowing of Base Rate Loans
because the conditions set forth in Section 4.02 cannot be satisfied or for any other reason, the Borrower shall be deemed to have incurred from the L/C Issuer an L/C Borrowing in the amount of the Unreimbursed Amount that is not so
refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate. In such event, each Lender’s payment to the Administrative Agent for the account of the L/C Issuer pursuant
to Section 2.04(c)(ii), without limitation of the other provisions of this Agreement, shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender in satisfaction of
its participation obligation under this Section 2.04. 
 (iv) Until each Lender funds its Committed
Loan or L/C Advance pursuant to this Section 2.04(c) to reimburse the L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Lender’s Applicable Percentage of such amount shall be solely for the
account of the L/C Issuer. 
 (v) Each Lender’s obligation to make Committed Loans or L/C Advances to
reimburse the L/C Issuer for amounts drawn under Letters of Credit, as contemplated by this Section 2.04(c), shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim,
recoupment, defense or other right which such Lender may have against the L/C Issuer, the Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of a Default, or (C) any other occurrence, event or
condition, whether or not similar to any of the foregoing; provided, however, that 
  

 29 

 
each Lender’s obligation to make Committed Loans pursuant to this Section 2.04(c) is subject to the conditions set forth in Section 4.02 (other than delivery by the
Borrower of a Committed Loan Notice). No such making of an L/C Advance shall relieve or otherwise impair the obligation of the Borrower to reimburse the L/C Issuer for the amount of any payment made by the L/C Issuer under any Letter of Credit,
together with interest as provided herein. 
 (vi) If any Lender fails to make available to the Administrative
Agent for the account of the L/C Issuer any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time specified in Section 2.04(c)(ii), then, without limiting the other
provisions of this Agreement, the L/C Issuer shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on
which such payment is immediately available to the L/C Issuer at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by the L/C Issuer in accordance with banking industry rules on interbank compensation, plus any
administrative, processing or similar fees customarily charged by the L/C Issuer in connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Lender’s
Committed Loan included in the relevant Committed Borrowing or L/C Advance in respect of the relevant L/C Borrowing, as the case may be. A certificate of the L/C Issuer submitted to any Lender (through the Administrative Agent) with respect to any
amounts owing under this clause (vi) shall be conclusive absent manifest error. 
 (d) Repayment of Participations.

 (i) At any time after the L/C Issuer has made a payment under any Letter of Credit and has received from any
Lender such Lender’s L/C Advance in respect of such payment in accordance with Section 2.04(c), if the Administrative Agent receives for the account of the L/C Issuer any payment in respect of the related Unreimbursed Amount or
interest thereon (whether directly from the Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative Agent will distribute to such Lender its Applicable Percentage thereof in the
same funds as those received by the Administrative Agent. 
 (ii) If any payment received by the Administrative
Agent for the account of the L/C Issuer pursuant to Section 2.04(c)(i) is required to be returned under any of the circumstances described in Section 10.05 (including pursuant to any settlement entered into by the L/C Issuer
in its discretion), each Lender shall pay to the Administrative Agent for the account of the L/C Issuer its Applicable Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such
amount is returned by such Lender, at a rate per annum equal to the Federal Funds Rate from time to time in effect. 

 

 30 

 
The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement. 

(e) Obligations Absolute. The obligation of the Borrower to reimburse the L/C Issuer for each drawing under each Letter of Credit
and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following: 

(i) any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan Document;

 (ii) the existence of any claim, counterclaim, setoff, defense or other right that the Borrower or any
Subsidiary may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), the L/C Issuer or any other Person, whether in connection with
this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction; 

(iii) any draft, demand, certificate or other document presented under such Letter of Credit proving to be forged,
fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a drawing under such Letter of
Credit; 
 (iv) any payment by the L/C Issuer under such Letter of Credit against presentation of a draft or
certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the
benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under any Debtor Relief Law; or 

(v) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other
circumstance that might otherwise constitute a defense available to, or a discharge of, the Borrower or any Subsidiary. 
 The
Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any claim of noncompliance with the Borrower’s instructions or other irregularity, the Borrower will
immediately notify the L/C Issuer. The Borrower shall be conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents unless such notice is given as aforesaid. 

(f) Role of L/C Issuer. Each Lender and the Borrower agree that, in paying any drawing under a Letter of Credit, the L/C Issuer
shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly required by the 

 

 31 

 
Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person executing or delivering any such document. None of the L/C Issuer,
the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall be liable to any Lender for (i) any action taken or omitted in connection herewith at the request or with
the approval of the Lenders or the Required Lenders, as applicable; (ii) any action taken or omitted in the absence of gross negligence or willful misconduct; or (iii) the due execution, effectiveness, validity or enforceability of any
document or instrument related to any Letter of Credit or Issuer Document. The Borrower hereby assumes all risks of the acts or omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; provided, however, that this
assumption is not intended to, and shall not, preclude the Borrower’s pursuing such rights and remedies as it may have against the beneficiary or transferee at law or under any other agreement. None of the L/C Issuer, the Administrative Agent,
any of their respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall be liable or responsible for any of the matters described in clauses (i) through (v) of Section 2.04(e); provided,
however, that anything in such clauses to the contrary notwithstanding, the Borrower may have a claim against the L/C Issuer, and the L/C Issuer may be liable to the Borrower, to the extent, but only to the extent, of any direct, as opposed to
consequential or exemplary, damages suffered by the Borrower which the Borrower proves were caused by the L/C Issuer’s willful misconduct or gross negligence or the L/C Issuer’s willful failure to pay under any Letter of Credit after the
presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying with the terms and conditions of a Letter of Credit. In furtherance and not in limitation of the foregoing, the L/C Issuer may accept documents that appear
on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary, and the L/C Issuer shall not be responsible for the validity or sufficiency of any instrument transferring or
assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason. 

(g) Applicability of ISP. Unless otherwise expressly agreed by the L/C Issuer and the Borrower when a Letter of Credit is issued,
the rules of the ISP shall apply to each Letter of Credit. 
 (h) Letter of Credit Fees. The Borrower agrees to pay to
the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Rate times the daily amount
available to be drawn under such Letter of Credit; provided, however, any Letter of Credit Fees otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash
Collateral satisfactory to the L/C Issuer pursuant to this Section 2.04 shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders in accordance with the upward adjustments in their respective Applicable
Percentages allocable to such Letter of Credit pursuant to Section 2.18(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. For purposes of computing the daily amount available to be drawn under
any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. Letter of Credit Fees shall be (i) due and payable on the first Business Day after the end of each March, June, September
and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on 

 

 32 

 
demand and (ii) computed on a quarterly basis in arrears. If there is any change in the Applicable Rate during any quarter, the daily amount available to be drawn under each Letter of Credit
shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the Required Lenders,
while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate. 
 (i) Fronting Fee and
Documentary and Processing Charges Payable to L/C Issuer. The Borrower agrees to pay directly to each L/C Issuer for its own account a fronting fee with respect to each Letter of Credit, as to Bank of America at the rate per annum specified in
the Fee Letter, and as to JPMorgan Chase Bank, N.A. at the rate per annum established between the Borrower and JPMorgan Chase Bank, N.A. under the Existing Credit Agreement, computed on the daily amount available to be drawn under such Letter of
Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the
case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn
under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrower shall pay directly to the L/C Issuer for its own account the customary issuance, presentation,
amendment and other processing fees, and other standard costs and charges, of the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are
nonrefundable. 
 (j) Conflict with Issuer Documents. In the event of any conflict between the terms hereof and the terms
of any Issuer Document, the terms hereof shall control. 
 2.05 Swing Line Loans. 

(a) The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender, in reliance upon the agreements of
the other Lenders set forth in this Section 2.05, may in its sole discretion make loans (each such loan, a “Swing Line Loan”) to the Borrower from time to time on any Business Day during the Availability Period in an
aggregate amount not to exceed at any time outstanding the amount of the Swing Line Sublimit, notwithstanding the fact that such Swing Line Loans, when aggregated with the Applicable Percentage of the Outstanding Amount of Committed Loans and L/C
Obligations of the Lender acting as Swing Line Lender, may exceed the amount of such Lender’s Commitment; provided, however, that after giving effect to any Swing Line Loan, (i) the Total Outstandings shall not exceed the
Aggregate Commitments, and (ii) the aggregate Outstanding Amount of the Committed Loans of any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s
Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Commitment, and provided, further, that the Borrower shall not use the proceeds of any Swing Line Loan to refinance any
outstanding Swing Line Loan. Within the foregoing limits, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.05, prepay under Section 2.06, and reborrow under this
Section 2.05. Each Swing Line Loan shall be a Base Rate Loan. 
  

 33 

 
Immediately upon the making of a Swing Line Loan, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in
such Swing Line Loan in an amount equal to the product of such Lender’s Applicable Percentage times the amount of such Swing Line Loan. The Borrower promises to pay to the Swing Line Lender all amounts due under the Swing Line Loans on
the Maturity Date or such earlier date as required hereunder. 
 (b) Borrowing Procedures. Each Swing Line Borrowing
shall be made upon the Borrower’s irrevocable notice to the Swing Line Lender and the Administrative Agent, which may be given by telephone. Each such notice must be received by the Swing Line Lender and the Administrative Agent not later than
1:00 p.m. on the requested borrowing date, and shall specify (i) the amount to be borrowed, which shall be a minimum of $100,000, and (ii) the requested borrowing date, which shall be a Business Day. Each such telephonic notice must be
confirmed promptly by delivery to the Swing Line Lender and the Administrative Agent of a written Swing Line Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Promptly after receipt by the Swing Line Lender of
any telephonic Swing Line Loan Notice, the Swing Line Lender will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has also received such Swing Line Loan Notice and, if not, the Swing Line Lender will
notify the Administrative Agent (by telephone or in writing) of the contents thereof. Unless the Swing Line Lender has received notice (by telephone or in writing) from the Administrative Agent (including at the request of any Lender) prior to 2:00
p.m. on the date of the proposed Swing Line Borrowing (A) directing the Swing Line Lender not to make such Swing Line Loan as a result of the limitations set forth in the first proviso to the first sentence of Section 2.05(a), or
(B) that one or more of the applicable conditions specified in Article IV is not then satisfied, then, subject to the terms and conditions hereof, the Swing Line Lender will, not later than 3:00 p.m. on the borrowing date specified in
such Swing Line Loan Notice, make the amount of its Swing Line Loan available to the Borrower. 
 (c) Refinancing of Swing
Line Loans. 
 (i) The Swing Line Lender at any time in its sole discretion may request, on behalf of the
Borrower (which hereby irrevocably authorizes the Swing Line Lender to so request on its behalf), that each Lender make a Base Rate Committed Loan in an amount equal to such Lender’s Applicable Percentage of the amount of Swing Line Loans then
outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, without regard to the minimum and
multiples specified therein for the principal amount of Base Rate Loans, but subject to the unutilized portion of the Aggregate Commitments and the conditions set forth in Section 4.02. The Swing Line Lender shall provide to the Borrower
a copy of the applicable Committed Loan Notice promptly after delivering such notice to the Administrative Agent. Each Lender shall make an amount equal to its Applicable Percentage of the amount specified in such Committed Loan Notice available to
the Administrative Agent in immediately available funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable Swing Line Loan) for the account of the Swing Line Lender at the Administrative Agent’s
Office not later 
  

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than 1:00 p.m. on the day specified in such Committed Loan Notice, whereupon, subject to Section 2.05(c)(ii), each Lender that so makes funds available shall be deemed to have made a
Base Rate Committed Loan to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swing Line Lender. 

(ii) If for any reason any Swing Line Loan cannot be refinanced by such a Committed Borrowing in accordance with
Section 2.05(c)(i), the request for Base Rate Committed Loans submitted by the Swing Line Lender as set forth herein shall be deemed to be a request by the Swing Line Lender that each of the Lenders fund its risk participation in the
relevant Swing Line Loan and each Lender’s payment to the Administrative Agent for the account of the Swing Line Lender pursuant to Section 2.05(c)(i) shall be deemed payment in respect of such participation. 

(iii) If any Lender fails to make available to the Administrative Agent for the account of the Swing Line Lender any
amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.05(c) by the time specified in Section 2.05(c)(i), the Swing Line Lender shall be entitled to recover from such Lender (acting
through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the Swing Line Lender at a rate per annum equal to
the greater of the Federal Funds Rate and a rate determined by the Swing Line Lender in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Swing Line
Lender in connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Lender’s Committed Loan included in the relevant Committed Borrowing or funded
participation in the relevant Swing Line Loan, as the case may be. A certificate of the Swing Line Lender submitted to any Lender (through the Administrative Agent) with respect to any amounts owing under this clause (iii) shall be conclusive
absent manifest error. 
 (iv) Each Lender’s obligation to make Committed Loans or to purchase and fund risk
participations in Swing Line Loans pursuant to this Section 2.05(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which
such Lender may have against the Swing Line Lender, the Borrower or any other Person for any reason whatsoever, (B) the occurrence or continuance of a Default, or (C) any other occurrence, event or condition, whether or not similar to any
of the foregoing; provided, however, that each Lender’s obligation to make Committed Loans pursuant to this Section 2.05(c) is subject to the conditions set forth in Section 4.02. No such funding of risk
participations shall relieve or otherwise impair the obligation of the Borrower to repay Swing Line Loans, together with interest as provided herein. 
  

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 (d) Repayment of Participations. 

(i) At any time after any Lender has purchased and funded a risk participation in a Swing Line Loan, if the Swing Line
Lender receives any payment on account of such Swing Line Loan, the Swing Line Lender will distribute to such Lender its Applicable Percentage thereof in the same funds as those received by the Swing Line Lender. 

(ii) If any payment received by the Swing Line Lender in respect of principal or interest on any Swing Line Loan is
required to be returned by the Swing Line Lender under any of the circumstances described in Section 10.05 (including pursuant to any settlement entered into by the Swing Line Lender in its discretion), each Lender shall pay to the Swing
Line Lender its Applicable Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned, at a rate per annum equal to the Federal Funds Rate. The Administrative
Agent will make such demand upon the request of the Swing Line Lender. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement. 

(e) Interest for Account of Swing Line Lender. The Swing Line Lender shall be responsible for invoicing the Borrower for interest
on the Swing Line Loans. Until each Lender funds its Base Rate Committed Loan or risk participation pursuant to this Section 2.05 to refinance such Lender’s Applicable Percentage of any Swing Line Loan, interest in respect of such
Applicable Percentage shall be solely for the account of the Swing Line Lender. 
 (f) Payments Directly to Swing Line
Lender. The Borrower shall make all payments of principal and interest in respect of the Swing Line Loans directly to the Swing Line Lender. 

2.06 Prepayments. 

(a) The Borrower may, upon notice to the Administrative Agent, at any time or from time to time voluntarily prepay Committed Loans in
whole or in part without premium or penalty; provided that (A) such notice must be received by the Administrative Agent not later than 11:00 a.m. (x) three (3) Business Days prior to any date of prepayment of Eurodollar Rate
Loans and (y) on the date of prepayment of Base Rate Committed Loans; (B) any prepayment of Eurodollar Rate Loans shall be in a principal amount of $2,000,000 or a whole multiple of $1,000,000 in excess thereof; and (C) any prepayment
of Base Rate Committed Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less, the entire principal amount thereof then outstanding. Each such notice shall specify (x) the
date and amount of such prepayment, (y) the Type(s) of Committed Loans to be prepaid, and (z) if Eurodollar Rate Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly notify each Lender of
its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall
be due and payable on the date specified therein. Any prepayment of a Eurodollar Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05.
Subject to Section 2.18, each such prepayment shall be applied to the Committed Loans of the Lenders in accordance with their respective Applicable Percentages. 

 

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 (b) Reserved. 

(c) The Borrower may, upon notice to the Swing Line Lender (with a copy to the Administrative Agent), at any time or from time to time,
voluntarily prepay Swing Line Loans in whole or in part without premium or penalty; provided that (i) such notice must be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. on the date of the
prepayment, and (ii) any such prepayment shall be in a minimum principal amount of $100,000. Each such notice shall specify the date and amount of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment
and the payment amount specified in such notice shall be due and payable on the date specified therein. 
 (d) If for any reason
the Total Outstandings at any time exceed the Aggregate Commitments then in effect, the Borrower shall immediately prepay Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided,
however, that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.06(d) unless after the prepayment in full of the Committed Loans and Swing Line Loans the Total Outstandings
exceed the Aggregate Commitments then in effect. 
 2.07 Termination or Reduction of Commitments. The Borrower
may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than
11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Borrower shall not
terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the
Aggregate Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Commitments, such Sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify
the Lenders of any such notice of termination or reduction of the Aggregate Commitments. Any reduction of the Aggregate Commitments shall be applied to the Commitment of each Lender according to its Applicable Percentage. All fees accrued until the
effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination. 

2.08 Repayment of Loans. 

(a) The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Committed Loans outstanding on
such date. 
 (b) The Borrower shall repay each Swing Line Loan on the earlier to occur of (i) the date ten
(10) Business Days after such Loan is made and (ii) the Maturity Date. 
  

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 2.09 Interest. 

(a) Subject to the provisions of subsection (b) below, (i) each Eurodollar Rate Loan shall bear interest on the outstanding
principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate; (ii) each Base Rate Committed Loan shall bear interest on the outstanding principal
amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate; and (iii) each Swing Line Loan shall bear interest on the outstanding principal amount thereof from the applicable
borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate. 
 (b) (i) If any
amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at
all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 
 (ii) If any amount
(other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required
Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 

(iii) Upon the request of the Required Lenders, while any Event of Default exists, the Borrower shall pay interest on the
principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 

(iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable
upon demand. 
 (c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto
and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.

 2.10 Fees. In addition to certain fees described in subsections (h) and (i) of
Section 2.04: 
 (a) Commitment Fee. The Borrower shall pay to the Administrative Agent for the account of
each Lender in accordance with its Applicable Percentage, a commitment fee (the “Commitment Fee”) equal to the Applicable Rate for the Commitment Fee times the actual daily amount by which the Aggregate Commitments exceed the
sum of (i) the Outstanding Amount of Committed Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.18. The Commitment Fee shall accrue at all times during the Availability
Period, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June,

  

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September and December, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period (or any earlier date on which the Aggregate Commitments
shall terminate). The Commitment Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each
period during such quarter that such Applicable Rate was in effect. For purposes of computing the Commitment Fee, Swing Line Loans shall not be counted towards or considered usage of the Aggregate Commitments. 

(b) Other Fees. 

(i) The Borrower agrees to pay to the Arranger and the Administrative Agent for their own respective accounts fees in the
amounts and at the times specified in the Fee Letter. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 

(ii) The Borrower shall pay to the Administrative Agent for the respective accounts of the Lenders the upfront fees in the
amounts and at the times specified in the Fee Letter. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 

2.11 Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate. 

(a) All computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to the Eurodollar Rate) shall be
made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as
applicable, being paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion
is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.13(a), bear interest for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder
shall be conclusive and binding for all purposes, absent manifest error. 
 (b) If, as a result of any restatement of or other
adjustment to the financial statements of the Borrower or for any other reason, the Borrower or the Lenders determine that (i) the Consolidated Leverage Ratio as calculated by the Borrower as of any applicable date was inaccurate and
(ii) a proper calculation of the Consolidated Leverage Ratio would have resulted in higher pricing for such period, the Borrower shall immediately and retroactively be obligated to pay to the Administrative Agent for the account of the
applicable Lenders or the L/C Issuer, as the case may be, promptly on demand by the Administrative Agent (or, after the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code of the
United States, automatically and without further action by the Administrative Agent, any Lender or the L/C Issuer), an amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of
interest and fees actually paid for such period. This paragraph shall not limit the rights of the Administrative Agent, any Lender or 

 

 39 

 
the L/C Issuer, as the case may be, under Section 2.08(b) or under Article VIII. The Borrower’s obligations under this paragraph shall survive the termination of the
Aggregate Commitments and the repayment of all other Obligations hereunder. 
 2.12 Evidence of Debt. 

(a) The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the
Administrative Agent in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be conclusive absent manifest error of the amount of the Credit Extensions made by the Lenders to the
Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the
event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of
manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note, which shall evidence such Lender’s Commitment, in addition to
such accounts or records. Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto. 

(b) In addition to the accounts and records referred to in subsection (a), each Lender and the Administrative Agent shall maintain in
accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in Letters of Credit and Swing Line Loans. In the event of any conflict between the accounts and records maintained by the
Administrative Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. 

2.13 Payments Generally; Administrative Agent’s Clawback. 

(a) General. All payments to be made by the Borrower shall be made without condition or deduction for any counterclaim, defense,
recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the Administrative
Agent’s Office in Dollars and in immediately available funds not later than 2:00 p.m. on the date specified herein. The Administrative Agent will promptly distribute to each Lender its Applicable Percentage (or other applicable share as
provided herein) of such payment in like funds as received by wire transfer to such Lender’s Lending Office. All payments received by the Administrative Agent after 2:00 p.m. shall be deemed received on the next succeeding Business Day and any
applicable interest or fee shall continue to accrue. If any payment to be made by the Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected
in computing interest or fees, as the case may be. 
  

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 (b) (i) Funding by Lenders; Presumption by Administrative Agent.
Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Committed Borrowing of Eurodollar Rate Loans (or, in the case of any Committed Borrowing of Base Rate Loans, prior to 12:00 noon on the date
of such Committed Borrowing) that such Lender will not make available to the Administrative Agent such Lender’s share of such Committed Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date
in accordance with Section 2.02 (or, in the case of a Committed Borrowing of Base Rate Loans, that such Lender has made such share available in accordance with and at the time required by Section 2.02) and may, in reliance
upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Committed Borrowing available to the Administrative Agent, then the applicable Lender and the
Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount in immediately available funds with interest thereon, for each day from and including the date such amount is made available to the Borrower to
but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made by such Lender, the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking
industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing, and (B) in the case of a payment to be made by the Borrower, the
interest rate applicable to Base Rate Loans. If the Borrower and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the Borrower the amount of such
interest paid by the Borrower for such period. If such Lender pays its share of the applicable Committed Borrowing to the Administrative Agent, then the amount so paid shall constitute such Lender’s Committed Loan included in such Committed
Borrowing. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent. 

(ii) Payments by Borrower; Presumptions by Administrative Agent. Unless the Administrative Agent shall have
received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the L/C Issuer hereunder that the Borrower will not make such payment, the Administrative Agent may assume
that the Borrower have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the L/C Issuer, as the case may be, the amount due. In such event, if the Borrower have not in fact
made such payment, then each of the Lenders or the L/C Issuer, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or the L/C Issuer, in immediately available funds
with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate and a rate determined by the Administrative
Agent in accordance with banking industry rules on interbank compensation. 
  

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 A notice of the Administrative Agent to any Lender or the Borrower with respect to any
amount owing under this subsection (b) shall be conclusive, absent manifest error. 
 (c) Failure to Satisfy Conditions
Precedent. If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the
Administrative Agent because the conditions to the applicable Credit Extension set forth in Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as
received from such Lender) to such Lender, without interest. 
 (d) Obligations of Lenders Several. The obligations of
the Lenders hereunder to make Committed Loans, to fund participations in Letters of Credit and Swing Line Loans and to make payments pursuant to Section 10.04(c) are several and not joint. The failure of any Lender to make any Committed
Loan, to fund any such participation or to make any payment under Section 10.04(c) on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be
responsible for the failure of any other Lender to so make its Committed Loan, to purchase its participation or to make its payment under Section 10.04(c). 

(e) Funding Source. Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place
or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 

(f) Insufficient Funds. If at any time insufficient funds are received by and available to the Administrative Agent to pay fully
all amounts of principal, L/C Borrowings, interest and fees then due hereunder, such funds shall be applied (i) first, toward payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with
the amounts of interest and fees then due to such parties, and (ii) second, toward payment of principal and L/C Borrowings then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and L/C
Borrowings then due to such parties. 
 2.14 Sharing of Payments by Lenders. If any Lender shall, by exercising
any right of setoff or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of the Committed Loans made by it, or the participations in L/C Obligations or in Swing Line Loans held by it resulting in such
Lender’s receiving payment of a proportion of the aggregate amount of such Committed Loans or participations and accrued interest thereon greater than its pro rata share thereof as provided herein, then the Lender receiving such greater
proportion shall (a) notify the Administrative Agent of such fact, and (b) purchase (for cash at face value) participations in the Committed Loans and subparticipations in L/C Obligations and Swing Line Loans of the other Lenders, or make
such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Committed Loans and other
amounts owing them, provided that: 
 (i) if any such participations or subparticipations are purchased
and all or any portion of the payment giving rise thereto is recovered, such participations or subparticipations shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and 

 

 42 

 (ii) the provisions of this Section shall not be construed to apply to
(x) any payment made by or on behalf of the Borrower pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender), (y) the application of Cash
Collateral provided for in Section 2.17, or (z) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Committed Loans or subparticipations in L/C Obligations or Swing Line
Loans to any assignee or participant, other than an assignment to the Borrower or any Subsidiary thereof (as to which the provisions of this Section shall apply). 

The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring
a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of setoff and counterclaim with respect to such participation in accordance with the terms of this Agreement as fully as if such Lender were a direct
creditor of the Borrower in the amount of such participation. 
 2.15 Reserved. 

2.16 Increase in Commitments. 

(a) Request for Increase. Provided there exists no Default, upon notice to the Administrative Agent (who shall thereafter promptly
notify the Lenders), the Borrower may from time to time, request an increase in the Aggregate Commitments by an aggregate amount (for all such requests, taken together) not exceeding $25,000,000 (and after giving effect thereto, the Aggregate
Commitments may not exceed $95,000,000); provided that any such request for an increase shall be in a minimum amount of $5,000,000. At the time of sending such notice, the Borrower (in consultation with the Administrative Agent) shall specify
the time period within which each Lender is requested to respond (which shall in no event be less than ten Business Days from the date of delivery of such notice to the Lenders). 

(b) Lender Elections to Increase. Each Lender shall notify the Administrative Agent within such time period whether or not it
agrees to increase its Commitment and, if so, whether by an amount equal to, greater than, or less than its Applicable Percentage of such requested increase. Any Lender not responding within such time period shall be deemed to have declined to
increase its Commitment. 
 (c) Notification by Administrative Agent; Additional Lenders. The Administrative Agent shall
notify the Borrower and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase and subject to the approval of the Administrative Agent, the L/C Issuer and the Swing Line Lender
(which 
  

 43 

 
approvals shall not be unreasonably withheld), the Borrower may also invite additional Eligible Assignees to become Lenders pursuant to a joinder agreement in form and substance reasonably
satisfactory to the Administrative Agent and its counsel. 
 (d) Effective Date and Allocations. If the Aggregate
Commitments are increased in accordance with this Section, the Administrative Agent and the Borrower shall determine the effective date (the “Increase Effective Date”) and the final allocation of such increase. The Administrative
Agent shall promptly notify the Borrower and the Lenders of the final allocation of such increase and the Increase Effective Date. 

(e) Conditions to Effectiveness of Increase. As a condition precedent to such increase, the Borrower shall deliver to the
Administrative Agent a certificate of the Borrower dated as of the Increase Effective Date (in sufficient copies for each Lender) signed by a Responsible Officer of the Borrower, (x) certifying and attaching the resolutions adopted by the
Borrower approving or consenting to such increase, and (y) certifying that, before and after giving effect to such increase, (A) the representations and warranties contained in Article V and the other Loan Documents are true and
correct on and as of the Increase Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that for purposes of
this Section 2.16, the representations and warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses
(a) and (b), respectively, of Section 6.01, and (B) no Default exists. The Borrower shall prepay any Committed Loans outstanding on the Increase Effective Date (and pay any additional amounts required pursuant to
Section 3.05) to the extent necessary to keep the outstanding Committed Loans ratable with any revised Applicable Percentages arising from any nonratable increase in the Commitments under this Section. With respect to any increase in the
Aggregate Commitments pursuant to this Section 2.16, such increase shall be subject to pricing and fees based on prevailing market terms (including prevailing market rates), as acceptable to the Borrower, the Administrative Agent and the
Arranger. 
 (f) Conflicting Provisions. This Section shall supersede any provisions in Section 2.14 or
10.01 to the contrary. 
 2.17 Cash Collateral. 

(a) Certain Credit Support Events. Upon the request of the Administrative Agent or the L/C Issuer (i) if the L/C Issuer has
honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Borrowing, or (ii) if, as of the Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, the
Borrower shall, in each case, immediately Cash Collateralize the then Outstanding Amount of all L/C Obligations. At any time that there shall exist a Defaulting Lender, immediately upon the request of the Administrative Agent, the L/C Issuer or the
Swing Line Lender, the Borrower shall deliver to the Administrative Agent Cash Collateral in an amount sufficient to cover all Fronting Exposure (after giving effect to Section 2.18(a)(iv) and any Cash Collateral provided by the
Defaulting Lender). 
  

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 (b) Grant of Security Interest. All Cash Collateral (other than credit support not
constituting funds subject to deposit) shall be maintained in blocked, non-interest bearing deposit accounts at Bank of America. The Borrower, and to the extent provided by any Lender, such Lender, hereby grants to (and subjects to the control of)
the Administrative Agent, for the benefit of the Administrative Agent, the L/C Issuer and the Lenders (including the Swing Line Lender), and agrees to maintain, a first priority security interest in all such cash, deposit accounts and all balances
therein, and all other property so provided as collateral pursuant hereto, and in all proceeds of the foregoing, all as security for the obligations to which such Cash Collateral may be applied pursuant to Section 2.17(c). If at any time
the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person other than the Administrative Agent as herein provided, or that the total amount of such Cash Collateral is less than the applicable Fronting
Exposure and other obligations secured thereby, the Borrower or the relevant Defaulting Lender will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to
eliminate such deficiency. 
 (c) Application. Notwithstanding anything to the contrary contained in this Agreement, Cash
Collateral provided under any of this Section 2.17 or Sections 2.04, 2.05, 2.06, 2.18 or 8.02 in respect of Letters of Credit or Swing Line Loans shall be held and applied to the satisfaction of the
specific L/C Obligations, Swing Line Loans, obligations to fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) and other obligations for which the Cash Collateral
was so provided, prior to any other application of such property as may be provided for herein. 
 (d) Release. Cash
Collateral (or the appropriate portion thereof) provided to reduce Fronting Exposure or other obligations shall be released promptly following (i) the elimination of the applicable Fronting Exposure or other obligations giving rise thereto
(including by the termination of Defaulting Lender status of the applicable Lender (or, as appropriate, its assignee following compliance with Section 10.06(b)(vi)) or (ii) the Administrative Agent’s good faith determination
that there exists excess Cash Collateral; provided, however, (x) that Cash Collateral furnished by or on behalf of the Borrower shall not be released during the continuance of a Default or Event of Default (and following application as
provided in this Section 2.17 may be otherwise applied in accordance with Section 8.03), and (y) that the Person providing Cash Collateral and the L/C Issuer or Swing Line Lender, as applicable, may agree that Cash
Collateral shall not be released but instead held to support future anticipated Fronting Exposure or other obligations. 

2.18 Defaulting Lenders. 

(a) Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender,
then, until such time as that Lender is no longer a Defaulting Lender, to the extent permitted by applicable Law: 

(i) Waivers and Amendments. That Defaulting Lender’s right to approve or disapprove any amendment, waiver or
consent with respect to this Agreement shall be restricted as set forth in Section 10.01. 
  

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 (ii) Reallocation of Payments. Any payment of principal, interest,
fees or other amounts received by the Administrative Agent for the account of that Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise, and including any amounts made available to the
Administrative Agent by that Defaulting Lender pursuant to Section 10.08), shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by that
Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by that Defaulting Lender to the L/C Issuer or Swing Line Lender hereunder; third, if so determined by the
Administrative Agent or requested by the L/C Issuer or Swing Line Lender, to be held as Cash Collateral for future funding obligations of that Defaulting Lender of any participation in any Swing Line Loan or Letter of Credit; fourth, as the
Borrower may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which that Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative
Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in a non-interest bearing deposit account and released in order to satisfy obligations of that Defaulting Lender to fund Loans under this Agreement;
sixth, to the payment of any amounts owing to the Lenders, the L/C Issuer or Swing Line Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, the L/C Issuer or Swing Line Lender against that
Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any
judgment of a court of competent jurisdiction obtained by the Borrower against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to that Defaulting Lender or as
otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans or L/C Borrowings in respect of which that Defaulting Lender has not fully funded its
appropriate share and (y) such Loans or L/C Borrowings were made at a time when the conditions set forth in Section 4.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and L/C Borrowings owed to,
all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Borrowings owed to, that Defaulting Lender. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are
applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.18(a)(ii) shall be deemed paid to and redirected by that Defaulting Lender, and each Lender irrevocably consents hereto.

 (iii) Certain Fees. That Defaulting Lender (x) shall not be entitled to receive any commitment fee
pursuant to Section 2.10(a) for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender)
and (y) shall be limited in its right to receive Letter of Credit Fees as provided in Section 2.04(h). 
  

 46 

 (iv) Reallocation of Applicable Percentages to Reduce Fronting
Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans
pursuant to Sections 2.04 and 2.05, the “Applicable Percentage” of each non-Defaulting Lender shall be computed without giving effect to the Commitment of that Defaulting Lender; provided, that, (i) each such
reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund
participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Committed Loans of that
Lender. 
 (b) Defaulting Lender Cure. If the Borrower, the Administrative Agent, Swing Line Lender and
the L/C Issuer agree in writing in their sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such
notice and subject to any conditions set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase that portion of outstanding Loans of the other Lenders or take such
other actions as the Administrative Agent may determine to be necessary to cause the Committed Loans and funded and unfunded participations in Letters of Credit and Swing Line Loans to be held on a pro rata basis by the Lenders in accordance with
their Applicable Percentages (without giving effect to Section 2.18(a)(iv)), whereupon that Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or
payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to
Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. 

ARTICLE 3. 

TAXES, YIELD PROTECTION AND ILLEGALITY 

3.01 Taxes. 

(a) Payments Free of Taxes; Obligation to Withhold; Payments on Account of Taxes. 

(i) Any and all payments by or on account of any obligation of the Borrower hereunder or under any other Loan Document
shall to the extent permitted by applicable Laws be made free and clear of and without reduction or withholding for any Taxes. If, however, applicable Laws require the Borrower or the Administrative Agent to withhold or deduct any Tax, such Tax
shall be withheld or deducted in accordance with such Laws as determined by the Borrower or the Administrative Agent, as the case may be, upon the basis of the information and documentation to be delivered pursuant to subsection
(e) below. 
  

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 (ii) If the Borrower or the Administrative Agent shall be required by the
Code to withhold or deduct any Taxes, including both United States Federal backup withholding and withholding taxes, from any payment, then (A) the Administrative Agent shall withhold or make such deductions as are determined by the
Administrative Agent to be required based upon the information and documentation it has received pursuant to subsection (e) below, (B) the Administrative Agent shall timely pay the full amount withheld or deducted to the relevant
Governmental Authority in accordance with the Code, and (C) to the extent that the withholding or deduction is made on account of Indemnified Taxes or Other Taxes, the sum payable by the Borrower shall be increased as necessary so that after
any required withholding or the making of all required deductions (including deductions applicable to additional sums payable under this Section) the Administrative Agent, Lender or L/C Issuer, as the case may be, receives an amount equal to the sum
it would have received had no such withholding or deduction been made. 
 (b) Payment of Other Taxes by the Borrower.
Without limiting the provisions of subsection (a) above (but without duplication thereof), the Borrower shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable Laws. 

(c) Tax Indemnifications. 

(i) Without limiting the provisions of subsection (a) or (b) above (but without duplication thereof), the
Borrower shall, and does hereby, indemnify the Administrative Agent, each Lender and the L/C Issuer, and shall make payment in respect thereof within 10 days after demand therefor, for the full amount of any Indemnified Taxes or Other Taxes
(including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) withheld or deducted by the Borrower or the Administrative Agent or paid by the Administrative Agent, such Lender or the L/C
Issuer, as the case may be, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant
Governmental Authority. The Borrower shall also, and does hereby, indemnify the Administrative Agent, and shall make payment in respect thereof within 10 days after demand therefor, for any amount which a Lender or the L/C Issuer for any reason
fails to pay indefeasibly to the Administrative Agent as required by clause (ii) of this subsection. A certificate as to the amount of any such payment or liability delivered to the Borrower by a Lender or the L/C Issuer (with a copy to the
Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender or the L/C Issuer, shall be conclusive absent manifest error. 

(ii) Without limiting the provisions of subsection (a) or (b) above (but without duplication thereof), each
Lender and the L/C Issuer shall, and does hereby, indemnify the Borrower and the Administrative Agent, and shall make payment in respect thereof within ten (10) days after demand therefor, against any and all Taxes and any and all related
losses, claims, liabilities, penalties, interest 
  

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and expenses (including the fees, charges and disbursements of any counsel for the Borrower or the Administrative Agent) incurred by or asserted against the Borrower or the Administrative Agent
by any Governmental Authority as a result of the failure by such Lender or the L/C Issuer, as the case may be, to deliver, or as a result of the inaccuracy, inadequacy or deficiency of, any documentation required to be delivered by such Lender or
the L/C Issuer, as the case may be, to the Borrower or the Administrative Agent pursuant to subsection (e). Each Lender and the L/C Issuer hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such
Lender or the L/C Issuer, as the case may be, under this Agreement or any other Loan Document against any amount due to the Administrative Agent under this clause (ii). The agreements in this clause (ii) shall survive the resignation and/or
replacement of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender or the L/C Issuer, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all other Obligations. 

(d) Evidence of Payments. Upon request by the Borrower or the Administrative Agent, as the case may be, after any payment of Taxes
by the Borrower or by the Administrative Agent to a Governmental Authority as provided in this Section 3.01, the Borrower shall deliver to the Administrative Agent or the Administrative Agent shall deliver to the Borrower, as the case
may be, the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of any return required by Laws to report such payment or other evidence of such payment reasonably satisfactory to the
Borrower or the Administrative Agent, as the case may be. 
 (e) Status of Lenders; Tax Documentation. 

(i) Each Lender shall deliver to the Borrower and to the Administrative Agent, at the time or times prescribed by
applicable Laws or when reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation prescribed by applicable Laws or by the taxing authorities of any jurisdiction and such other reasonably
requested information as will permit the Borrower or the Administrative Agent, as the case may be, to determine (A) whether or not payments made hereunder or under any other Loan Document are subject to Taxes, (B) if applicable, the
required rate of withholding or deduction, and (C) such Lender’s entitlement to any available exemption from, or reduction of, applicable Taxes in respect of all payments to be made to such Lender by the Borrower pursuant to this Agreement
or otherwise to establish such Lender’s status for withholding tax purposes in the applicable jurisdiction. 

(ii) Without limiting the generality of the foregoing, if the Borrower is resident for tax purposes in the United States,

 (A) any Lender that is a “United States person” within the meaning of Section 7701(a)(30) of
the Code shall deliver to the Borrower and the Administrative Agent executed originals of Internal Revenue 
  

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Service Form W-9 or such other documentation or information prescribed by applicable Laws or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the
Administrative Agent, as the case may be, to determine whether or not such Lender is subject to backup withholding or information reporting requirements; and 

(B) each Foreign Lender that is entitled under the Code or any applicable treaty to an exemption from or reduction of
withholding tax with respect to payments hereunder or under any other Loan Document shall deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such
Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the request of the Borrower or the Administrative Agent, but only if such Foreign Lender is legally entitled to do so), whichever of the following is
applicable: 
 (I) executed originals of Internal Revenue Service Form W-8BEN claiming eligibility for benefits
of an income tax treaty to which the United States is a party, 
 (II) executed originals of Internal Revenue
Service Form W-8ECI, 
 (III) executed originals of Internal Revenue Service Form W-8IMY and all required
supporting documentation, 
 (IV) in the case of a Foreign Lender claiming the benefits of the exemption for
portfolio interest under section 881(c) of the Code, (x) a certificate to the effect that such Foreign Lender is not (A) a “bank” within the meaning of section 881(c)(3)(A) of the Code, (B) a “10 percent
shareholder” of the Borrower within the meaning of section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in section 881(c)(3)(C) of the Code and (y) executed originals of Internal Revenue
Service Form W-8BEN, or 
 (V) executed originals of any other form prescribed by applicable Laws as a basis for
claiming exemption from or a reduction in United States Federal withholding tax together with such supplementary documentation as may be prescribed by applicable Laws to permit the Borrower or the Administrative Agent to determine the withholding or
deduction required to be made. 
 (iii) Each Lender shall promptly (A) notify the Borrower and the
Administrative Agent of any change in circumstances which would modify or render invalid any claimed exemption or reduction, and (B) take such steps as 

 

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shall not be materially disadvantageous to it, in the reasonable judgment of such Lender, and as may be reasonably necessary (including the re-designation of its Lending Office) to avoid any
requirement of applicable Laws of any jurisdiction that the Borrower or the Administrative Agent make any withholding or deduction for taxes from amounts payable to such Lender. 

(f) Treatment of Certain Refunds. Unless required by applicable Laws, at no time shall the Administrative Agent have any
obligation to file for or otherwise pursue on behalf of a Lender or the L/C Issuer, or have any obligation to pay to any Lender or the L/C Issuer, any refund of Taxes withheld or deducted from funds paid for the account of such Lender or the L/C
Issuer, as the case may be. If the Administrative Agent, any Lender or the L/C Issuer determines, in its sole discretion, that it has received a refund of any Taxes or Other Taxes as to which it has been indemnified by the Borrower or with respect
to which the Borrower has paid additional amounts pursuant to this Section, it shall pay to the Borrower an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this
Section with respect to the Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses incurred by the Administrative Agent, such Lender or the L/C Issuer, as the case may be, and without interest (other than any interest
paid by the relevant Governmental Authority with respect to such refund), provided that the Borrower, upon the request of the Administrative Agent, such Lender or the L/C Issuer, agrees to repay the amount paid over to the Borrower (plus any
penalties, interest or other charges imposed by the relevant Governmental Authority) to the Administrative Agent, such Lender or the L/C Issuer in the event the Administrative Agent, such Lender or the L/C Issuer is required to repay such refund to
such Governmental Authority. This subsection shall not be construed to require the Administrative Agent, any Lender or the L/C Issuer to make available its tax returns (or any other information relating to its taxes that it deems confidential) to
the Borrower or any other Person. 
 3.02 Illegality. If any Lender determines that any Law has made it unlawful,
or that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund Loans whose interest is determined by reference to the Eurodollar Rate, or to determine or charge interest
rates based upon the Eurodollar Rate, or any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the London interbank market, then, on notice thereof by
such Lender to the Borrower through the Administrative Agent, (i) any obligation of such Lender to make or continue Eurodollar Rate Loans or to convert Base Rate Committed Loans to Eurodollar Rate Loans shall be suspended, and (ii) if such
notice asserts the illegality of such Lender making or maintaining Base Rate Loans the interest rate on which is determined by reference to the Eurodollar Rate component of the Base Rate, the interest rate on which Base Rate Loans of such Lender
shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Eurodollar Rate component of the Base Rate, in each case until such Lender notifies the Administrative Agent and the Borrower that the
circumstances giving rise to such determination no longer exist. Upon receipt of such notice, (x) the Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurodollar Rate
Loans of such Lender to Base Rate Loans (the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Eurodollar Rate component of the Base
Rate), either on the last day of the Interest Period therefor, if such Lender 
  

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may lawfully continue to maintain such Eurodollar Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Eurodollar Rate Loans and (y) if such
notice asserts the illegality of such Lender determining or charging interest rates based upon the Eurodollar Rate, the Administrative Agent shall during the period of such suspension compute the Base Rate applicable to such Lender without reference
to the Eurodollar Rate component thereof until the Administrative is advised in writing by such Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon the Eurodollar Rate. Upon any such prepayment or
conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted. 
 3.03 Inability to
Determine Rates. If the Required Lenders determine that for any reason in connection with any request for a Eurodollar Rate Loan or a conversion to or continuation thereof that (a) Dollar deposits are not being offered to banks in
the London interbank eurodollar market for the applicable amount and Interest Period of such Eurodollar Rate Loan, (b) adequate and reasonable means do not exist for determining the Eurodollar Rate for any requested Interest Period with respect
to a proposed Eurodollar Rate Loan or in connection with an existing or proposed Base Rate Loan, or (c) the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan does not adequately and fairly reflect
the cost to such Lenders of funding such Loan, the Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain Eurodollar Rate Loans shall be suspended, and
(y) in the event of a determination described in the preceding sentence with respect to the Eurodollar Rate component of the Base Rate, the utilization of the Eurodollar Rate component in determining the Base Rate shall be suspended, in each
case until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate
Loans or, failing that, will be deemed to have converted such request into a request for a Committed Borrowing of Base Rate Loans in the amount specified therein. 

3.04 Increased Costs. 

(a) Increased Costs Generally. If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar
requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement reflected in the Eurodollar Rate) or the L/C Issuer; 

(ii) subject any Lender or the L/C Issuer to any tax of any kind whatsoever with respect to this Agreement, any Letter of
Credit, any participation in a Letter of Credit or any Eurodollar Rate Loan made by it, or change the basis of taxation of payments to such Lender or the L/C Issuer in respect thereof (except for Indemnified Taxes or Other Taxes covered by
Section 3.01 and the imposition of, or any change in the rate of, any Excluded Tax payable by such Lender or the L/C Issuer); or 
  

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 (iii) impose on any Lender or the L/C Issuer or the London interbank market
any other condition, cost or expense affecting this Agreement or Eurodollar Rate Loans made by such Lender or any Letter of Credit or participation therein; 

and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any Loan the interest on which is determined
by reference to the Eurodollar Rate (or of maintaining its obligation to make any such Loan), or to increase the cost to such Lender or the L/C Issuer of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation
to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender or the L/C Issuer hereunder (whether of principal, interest or any other amount) then, upon request of such Lender or the
L/C Issuer, the Borrower will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer, as the case may be, for such additional costs incurred or reduction suffered.

 (b) Capital Requirements. If any Lender or the L/C Issuer determines that any Change in Law affecting such Lender or
the L/C Issuer or any Lending Office of such Lender or such Lender’s or the L/C Issuer’s holding company, if any, regarding capital requirements has or would have the effect of reducing the rate of return on such Lender’s or the L/C
Issuer’s capital or on the capital of such Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of Credit held by,
such Lender, or the Letters of Credit issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company could have achieved but for such Change in Law (taking into
consideration such Lender’s or the L/C Issuer’s policies and the policies of such Lender’s or the L/C Issuer’s holding company with respect to capital adequacy), then from time to time the Borrower will pay to such Lender or the
L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company for any such reduction suffered. 

(c) Certificates for Reimbursement. A certificate of a Lender or the L/C Issuer setting forth the amount or amounts necessary to
compensate such Lender or the L/C Issuer or its holding company, as the case may be, as specified in subsection (a) or (b) of this Section and delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay such
Lender or the L/C Issuer, as the case may be, the amount shown as due on any such certificate within 10 days after receipt thereof. 

(d) Delay in Requests. Failure or delay on the part of any Lender or the L/C Issuer to demand compensation pursuant to the
foregoing provisions of this Section shall not constitute a waiver of such Lender’s or the L/C Issuer’s right to demand such compensation, provided that the Borrower shall not be required to compensate a Lender or the L/C Issuer
pursuant to the foregoing provisions of this Section for any increased costs incurred or reductions suffered more than six months prior to the date that such Lender or the L/C Issuer, as the case may be, notifies the Borrower of the Change in Law
giving rise to such increased costs or reductions and of such Lender’s or the L/C Issuer’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then
the six-month period referred to above shall be extended to include the period of retroactive effect thereof). 
  

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 3.05 Compensation for Losses. Upon demand of any Lender (with a copy to the
Administrative Agent) from time to time, the Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: 

(a) any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the last day of the
Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); 
 (b) any
failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert any Loan other than a Base Rate Loan on the date or in the amount notified by the Borrower; or 

(c) any assignment of a Eurodollar Rate Loan on a day other than the last day of the Interest Period therefor as a result of a request by
the Borrower pursuant to Section 10.13; 
 including any loss of anticipated profits and any loss or expense arising
from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained. The Borrower shall also pay any customary administrative fees charged by such
Lender in connection with the foregoing. 
 For purposes of calculating amounts payable by the Borrower to the Lenders under
this Section 3.05, each Lender shall be deemed to have funded each Eurodollar Rate Loan made by it at the Eurodollar Rate for such Loan by a matching deposit or other borrowing in the London interbank eurodollar market for a comparable amount
and for a comparable period, whether or not such Eurodollar Rate Loan was in fact so funded. 
 3.06 Mitigation Obligations;
Replacement of Lenders. 
 (a) Designation of a Different Lending Office. If any Lender requests compensation under
Section 3.04, or the Borrower is required to pay any additional amount to any Lender, the L/C Issuer, or any Governmental Authority for the account of any Lender or the L/C Issuer pursuant to Section 3.01, or if any Lender
gives a notice pursuant to Section 3.02, then such Lender or the L/C Issuer shall, as applicable, use reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder or to assign its rights and
obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender or the L/C Issuer, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.01 or
3.04, as the case may be, in the future, or eliminate the need for the notice pursuant to Section 3.02, as applicable, and (ii) in each case, would not subject such Lender or the L/C Issuer, as the case may be, to any
unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender or the L/C Issuer, as the case may be. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender or the L/C Issuer in connection
with any such designation or assignment. 
 (b) Replacement of Lenders. If any Lender requests compensation under
Section 3.04, or gives any notice pursuant to Section 3.02, or if the Borrower is required to pay 
  

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any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, the Borrower may replace such Lender in accordance with
Section 10.13. 
 3.07 Survival. All of the Borrower’s obligations under this Article III
shall survive termination of the Aggregate Commitments, repayment of all other Obligations hereunder, and resignation of the Administrative Agent. 

ARTICLE 4. 

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS 

4.01 Conditions of Initial Credit Extension. The obligation of the L/C Issuer and each Lender to make its initial Credit
Extension hereunder is subject to satisfaction of the following conditions precedent: 
 (a) The Administrative Agent’s
receipt of the following, each of which shall be originals or copies by pdf or telecopy (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the Borrower, each dated the Closing Date (or, in
the case of certificates of governmental officials, a recent date before the Closing Date) and each in form and substance satisfactory to the Administrative Agent and each of the Lenders: 

(i) executed counterparts of this Agreement, sufficient in number for distribution to the Administrative Agent, each
Lender and the Borrower; 
 (ii) a Note executed by the Borrower in favor of each Lender requesting a Note;

 (iii) such certificates of resolutions or other action, incumbency certificates and/or other certificates of
Responsible Officers of the Borrower as the Administrative Agent may require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Agreement and the
other Loan Documents; 
 (iv) such documents and certifications as the Administrative Agent may reasonably
require to evidence that the Borrower is duly organized or formed, and that the Borrower is validly existing, in good standing and qualified to engage in business in each jurisdiction where its ownership, lease or operation of properties or the
conduct of its business requires such qualification, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; 

(v) a favorable opinion of counsel to the Borrower, addressed to the Administrative Agent and each Lender, as to the
matters set forth in Exhibit F and such other matters concerning the Borrower and the Loan Documents as the Required Lenders may reasonably request; 
  

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 (vi) a certificate of a Responsible Officer of the Borrower either
(A) attaching copies of all consents, licenses and approvals required in connection with the execution, delivery and performance by the Borrower and the validity against the Borrower of the Loan Documents to which it is a party, and such
consents, licenses and approvals shall be in full force and effect, or (B) stating that no such consents, licenses or approvals are so required; 

(vii) a certificate signed by a Responsible Officer of the Borrower, certifying (A) that the conditions specified in
Sections 4.02(a) and (b) have been satisfied, and (B) that there has been no event or circumstance since the date of the Audited Financial Statements that has had or could be reasonably expected to have, either individually
or in the aggregate, a Material Adverse Effect or that or could be reasonably expected to adversely affect the Aggregate Commitments hereunder; and (C) a calculation of the Consolidated Leverage Ratio as of the last day of the fiscal quarter of
the Borrower most recently ended prior to the Closing Date; 
 (viii) a duly completed Compliance Certificate
signed by a Responsible Officer of the Borrower, as of the last day of the fiscal quarter of the Borrower ended on June 30, 2010 (based upon the financial statements for the fiscal quarter ending June 30, 2010), after giving effect to the
Loans made hereunder on the Closing Date, evidencing pro forma compliance with each of the financial covenants set forth in Section 7.11 hereof (assuming such financial covenants were in effect on June 30, 2010), evidencing
compliance with each of the covenants set forth in Section 7.11; 
 (ix) evidence that all insurance
required to be maintained pursuant to the Loan Documents has been obtained and is in effect, together with insurance binders or other satisfactory certificates of insurance; 

(x) satisfactory evidence of the payment of all Indebtedness and other obligations under the Existing Credit Agreement,
together with a satisfactory payoff and release letter from the administrative agent thereunder, on behalf of the lenders thereunder, and evidence that the Existing Credit Agreement has been or concurrently with the Closing Date is being terminated
and any Liens securing obligations under the Existing Credit Agreement have been or concurrently with the Closing Date are being released, terminated and/or discharged; and 

(xi) such other assurances, certificates, documents or consents as the Administrative Agent, the L/C Issuer, the Swing
Line Lender or the Required Lenders reasonably may require. 
 (b) The absence of any action, suit, investigation or proceeding
pending or, to the knowledge of the Borrower, threatened in any court or before any arbitrator or Governmental Authority that would reasonably be expected to have a Material Adverse Effect. 

 

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 (c) No material adverse change (i) in the operations, business, properties, liabilities
(actual or contingent), condition (financial or otherwise) or prospects of the Borrower and its Subsidiaries, taken as a whole, since December 31, 2009, discovered by the Administrative Agent or the Lenders regarding the Borrower or the
transactions contemplated hereby, or (ii) in the facts and information regarding such Persons as represented by the Borrower on or prior to the date hereof. 

(d) No changes or developments shall have occurred since December 31, 2009, and no new or additional information shall have been
received or discovered by the Administrative Agent that (i) either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect, or (ii) adversely affect the Aggregate Commitments hereunder. 

(e) Any fees required to be paid on or before the Closing Date shall have been paid. 

(f) Unless waived by the Administrative Agent, the Borrower shall have paid all fees, charges and disbursements of counsel to the
Administrative Agent (directly to such counsel if requested by the Administrative Agent) to the extent invoiced at least two (2) Business Days prior to the Closing Date, plus such additional amounts of such fees, charges and disbursements to be
incurred by it through the closing proceedings within five (5) Business Days after receiving an invoice thereof (provided that such estimate shall not thereafter preclude a final settling of accounts between the Borrower and the
Administrative Agent). 
 Without limiting the generality of the provisions of the last paragraph of Section 9.03 or
Section 9.04 for purposes of determining compliance with the conditions specified in this Section 4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied
with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Closing Date
specifying its objection thereto. 
 4.02 Conditions to all Credit Extensions. The obligation of each Lender to
honor any Request for Credit Extension (other than a Committed Loan Notice requesting only a conversion of Committed Loans to the other Type, or a continuation of Eurodollar Rate Loans) is subject to the following conditions precedent: 

(a) (i) With respect to the Credit Extensions advanced on the Closing Date, the representations and warranties of the Borrower contained
in Article V or any other Loan Document delivered on or before the Closing Date shall be true and correct in all respects on and as of the Closing Date; and (ii) with respect to any Credit Extension advanced after the Closing Date, the
representations and warranties of the Borrower contained in Article V or any other Loan Document, or which are contained in any document furnished at any time under or in connection herewith or therewith, shall be true and correct in all
material respects (except to the extent already qualified by materiality which such representations and warranties shall be true and correct in all respects) on and as of the date of such Credit Extension, except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they 
  

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shall be true and correct as of such earlier date, and except that for purposes of this Section 4.02, the representations and warranties contained in subsections (a) and
(b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01. 

(b) No Default shall exist, or would result from such proposed Credit Extension or from the application of the proceeds thereof.

 (c) The Administrative Agent and, if applicable, the L/C Issuer or the Swing Line Lender shall have received a Request for
Credit Extension in accordance with the requirements hereof. 
 Each Request for Credit Extension (other than a Committed Loan
Notice requesting only a conversion of Committed Loans to the other Type or a continuation of Eurodollar Rate Loans) submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified in Sections
4.02(a) and (b) have been satisfied on and as of the date of the applicable Credit Extension. 
 ARTICLE 5.

 REPRESENTATIONS AND WARRANTIES 

The Borrower represents and warrants to the Administrative Agent and the Lenders that: 

5.01 Existence, Qualification and Power. The Borrower (a) is duly organized or formed, validly existing and, as
applicable, in good standing under the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite corporate, limited liability, partnership or similar power and authority and all requisite governmental licenses,
authorizations, consents and approvals to (i) own or lease its assets and carry on its business and (ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party, and (c) is duly qualified and is
licensed and, as applicable, in good standing under the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification or license; except in each case referred to in
clause (b)(i) or (c), to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. 

5.02 Authorization; No Contravention. The execution, delivery and performance by the Borrower of each Loan Document to
which such Person is party, have been duly authorized by all necessary corporate or other organizational action, and do not and will not (a) contravene the terms of any of such Person’s Organizational Documents; (b) conflict with or
result in any breach or contravention of, or the creation of any Lien under, or require any payment to be made under (i) any material (individually or in the aggregate) Contractual Obligations to which such Person is a party or affecting such
Person or the properties of such Person or any of its Subsidiaries, except as noted on Schedule 5.02, or (ii) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Person or its property
is subject; or (c) violate any Law. 
 5.03 Governmental Authorization; Other Consents. No approval, consent,
exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against, the Borrower of
this Agreement or any other Loan Document. 
  

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 5.04 Binding Effect. This Agreement has been, and each other Loan Document,
when delivered hereunder, will have been, duly executed and delivered by the Borrower that is party thereto. This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of the
Borrower, enforceable against the Borrower that is party thereto in accordance with its terms, except as such enforceability may be limited by (a) bankruptcy, insolvency, reorganization, moratorium or similar laws of general applicability
affecting the enforcement of creditors’ rights and (b) the application of general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 

5.05 Financial Statements; No Material Adverse Effect. 

(a) The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied throughout the period covered
thereby, except as otherwise expressly noted therein; (ii) fairly present the financial condition of the Borrower and its Subsidiaries as of the date thereof and their results of operations for the period covered thereby in accordance with GAAP
consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of the Borrower and its Subsidiaries as of the date
thereof, including liabilities for taxes, material commitments and Indebtedness. 
 (b) The unaudited consolidated balance
sheets of the Borrower and its Subsidiaries dated June 30, 2010, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for the fiscal quarter ended on that date (i) were prepared in
accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein, and (ii) fairly present the financial condition of the Borrower and its Subsidiaries as of the date thereof and their
results of operations for the period covered thereby, subject, in the case of clauses (i) and (ii), to the absence of footnotes and to normal year-end audit adjustments. Except to the extent set forth in the financial statements referred to in
this clause (b), Schedule 5.05 sets forth all material indebtedness and other liabilities, direct or contingent, of the Borrower and its consolidated Subsidiaries as of the date of such financial statements, including liabilities for taxes,
material commitments and Indebtedness. 
 (c) Since the date of the Audited Financial Statements, there has been no event or
circumstance, either individually or in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect. 

5.06 Litigation. There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Borrower,
threatened or contemplated, at law, in equity, in arbitration or before any Governmental Authority, by or against the Borrower or any of its Subsidiaries or against any of their properties or revenues that (a) purport to affect or pertain to
this Agreement or any other Loan Document, or any of the transactions contemplated hereby, or (b) except as specifically disclosed in Schedule 5.06, either individually or in the aggregate, if determined adversely, could reasonably be
expected to have a Material Adverse Effect, and there has been no adverse change in the status, or financial effect on the Borrower or any Subsidiary thereof, of the matters described on Schedule 5.06. 

 

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 5.07 No Default. Neither the Borrower nor any Subsidiary thereof is in default
under or with respect to any Contractual Obligation that could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. No Default has occurred and is continuing or would result from the consummation of the
transactions contemplated by this Agreement or any other Loan Document. 
 5.08 Ownership of Property; Liens. The
Borrower and each Subsidiary has good and indefeasible title in fee simple to, or valid leasehold interests in, all real property necessary or used in the ordinary conduct of its business, except for such defects in title as could not, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect. The property of the Borrower and its Subsidiaries is subject to no Liens, other than Liens permitted by Section 7.01. 

5.09 Environmental Compliance. The Borrower and its Subsidiaries have reasonably concluded that, except as specifically
disclosed in Schedule 5.09, existing Environmental Laws and claims could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

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

5.12 ERISA Compliance. 

(a) Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and other applicable Federal or
state laws. Each Pension Plan that is intended to be a qualified plan under Section 401(a) of the Code has received a favorable determination letter from the Internal Revenue Service to the effect that the form of such Plan is qualified under
Section 401(a) of the Code and the trust related thereto has been determined by the Internal Revenue Service to be exempt from federal income tax under Section 501(a) of the Code, or an application for such a letter is currently being
processed by the Internal Revenue Service. To the best knowledge of the Borrower, nothing has occurred that would prevent or cause the loss of such tax-qualified status. 
  

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 (b) There are no pending or, to the best knowledge of the Borrower, threatened claims,
actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that could reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction or violation of the fiduciary responsibility rules
arising under ERISA with respect to any Plan that has resulted or could reasonably be expected to result in a Material Adverse Effect. 

(c) (i) No ERISA Event has occurred, and neither the Borrower nor any ERISA Affiliate is aware of any fact, event or circumstance that
could reasonably be expected to constitute or result in an ERISA Event with respect to any Pension Plan; (ii) the Borrower and each ERISA Affiliate has met all applicable requirements under the Pension Funding Rules in respect of each Pension
Plan, and no waiver of the minimum funding standards under the Pension Funding Rules has been applied for or obtained; (iii) as of the most recent valuation date for any Pension Plan, the funding target attainment percentage (as defined in
Section 430(d)(2) of the Code) is 60% or higher and neither the Borrower nor any ERISA Affiliate knows of any facts or circumstances that could reasonably be expected to cause the funding target attainment percentage for any such plan to drop
below 60% as of the most recent valuation date; (iv) neither the Borrower nor any ERISA Affiliate has incurred any liability to the PBGC other than for the payment of premiums, and there are no premium payments which have become due that are
unpaid; (v) neither the Borrower nor any ERISA Affiliate has engaged in a transaction that could be subject to Section 4069 or Section 4212(c) of ERISA; and (vi) no Pension Plan has been terminated by the plan administrator
thereof nor by the PBGC, and no event or circumstance has occurred or exists that could reasonably be expected to cause the PBGC to institute proceedings under Title IV of ERISA to terminate any Pension Plan. 

5.13 Subsidiaries; Equity Interests. The Borrower has no Subsidiaries other than those specifically disclosed in Part
(a) of Schedule 5.13, and all of the outstanding Equity Interests in such Subsidiaries have been validly issued, are fully paid and nonassessable and are owned, directly or indirectly, by the Borrower in the amounts specified on Part
(a) of Schedule 5.13 free and clear of all Liens. The Borrower has no equity investments in any other corporation or entity other than those specifically disclosed in Part (b) of Schedule 5.13, and all of such equity
investments have been validly issued, are fully paid and nonassessable, and are owned by the Borrower in the amounts specified on Part (b) of Schedule 5.13 free and clear of all Liens. 

5.14 Margin Regulations; Investment Company Act. 

(a) The Borrower is not engaged and will not engage, principally or as one of its important activities, in the business of purchasing or
carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock. 

(b) None of the Borrower, nor any Person Controlling the Borrower, nor any Subsidiary (i) is a “holding company,” or a
“subsidiary company” of a “holding company,” or an “affiliate” of a “holding company” or of a “subsidiary company” of a “holding company,” within the meaning of the Public Utility Holding
Company Act of 1935, or (ii) is or is required to be registered as an “investment company” under the Investment Company Act of 1940. 
  

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 5.15 Disclosure. The Borrower has disclosed to the Administrative Agent and
the Lenders all agreements, instruments and corporate or other restrictions, if any, to which it or any of its Subsidiaries is subject, and all other matters known to it, if any, that, individually or in the aggregate, could reasonably be expected
to result in a Material Adverse Effect. No report, financial statement, certificate or other information furnished (whether in writing or orally) by or on behalf of the Borrower to the Administrative Agent or any Lender in connection with the
transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder or under any other Loan Document (in each case, as modified or supplemented by other information so furnished) contains any material misstatement of fact
or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that, with respect to projected financial information, the Borrower
represents only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time. 

5.16 Compliance with Laws. The Borrower and each Subsidiary thereof is in compliance in all material respects with the
requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith
by appropriate proceedings diligently conducted or (b) the failure to comply therewith, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. 

5.17 Permits and Licenses. All permits and licenses (other than those the absence of which would not have a Material
Adverse Effect on the business, operations or financial condition of the Borrower and its Subsidiaries as a whole) required for the operation of the Borrower’s and its Subsidiaries’ business have been obtained and remain in full force and
effect and are not subject to any appeals or further proceedings or to any unsatisfied conditions that may allow material modification or revocation. Neither the Borrower nor any of its Subsidiaries nor, to the knowledge of a Responsible Officer of
the Borrower, the holder of such licenses or permits is in violation of any such licenses or permits, except for any violation which would not have a Material Adverse Effect on the business, operations or financial condition of the Borrower, taken
as a whole. 
 5.18 Certain Transactions. Except as set forth on Schedule 5.18 or as permitted in
Section 7.08, none of the officers, directors, or employees of the Borrower is presently a party to any transaction with the Borrower (other than for services as employees, officers and directors), including any contract, agreement or
other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge of the
Borrower, any corporation, partnership, trust or other entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner. 

5.19 Taxpayer Identification Number. The Borrower’s true and correct U.S. taxpayer identification number is set forth
on Schedule 5.19. 
 5.20 Solvency. The Borrower is, individually and together with its Subsidiaries on a
consolidated basis, Solvent. 
  

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 5.21 Labor Matters. There are no collective bargaining agreements or Multiemployer
Plans covering the employees of the Borrower or any of its Subsidiaries as of the Closing Date and neither the Borrower nor any Subsidiary has suffered any strikes, walkouts, work stoppages or other material labor difficulty within the last five
years. 
 5.22 Agreements Affecting Financial Condition. The Borrower is not a party to any agreement or instrument or
subject to any charter or other corporate restriction the performance of or compliance with could reasonably be expected to have a Material Adverse Effect. 

5.23 Material Contracts. All Material Contracts are in full force and effect, and no Default or Event of Default has occurred and
is continuing under any Material Contract. 
 5.24 Intellectual Property; Licenses, Etc. The Borrower and its
Subsidiaries own, or possess the right to use, all of the trademarks, service marks, trade names, copyrights, patents, patent rights, franchises, licenses and other intellectual property rights (collectively, “IP Rights”) that are
reasonably necessary for the operation of their respective businesses, without conflict with the rights of any other Person. To the best knowledge of the Borrower, no slogan or other advertising device, product, process, method, substance, part or
other material now employed, or now contemplated to be employed, by the Borrower or any Subsidiary infringes upon any rights held by any other Person, except for any such infringements that, individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Effect. 
 ARTICLE 6. 

AFFIRMATIVE COVENANTS 

So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or
any Letter of Credit shall remain outstanding, the Borrower shall, and shall (except in the case of the covenants set forth in Sections 6.01, 6.02, and 6.03) cause each Subsidiary to: 

6.01 Financial Statements. Deliver to the Administrative Agent and to each Lender, in form and detail satisfactory to the
Administrative Agent and the Required Lenders: 
 (a) as soon as available, but in any event within 90 days after the end of
each fiscal year of the Borrower (or, if earlier, 15 days after the date required to be filed with the SEC (without giving effect to any extension permitted by the SEC)), a consolidated balance sheet of the Borrower and its Subsidiaries as at the
end of such fiscal year, and the related consolidated statements of income or operations, changes in shareholders’ equity, and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal
year, all in reasonable detail and prepared in accordance with GAAP, audited and accompanied by a report and opinion of an independent certified public accountant of nationally recognized standing reasonably acceptable to the Required Lenders, which
report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such
audit; and 
 (b) as soon as available, but in any event within forty five (45) days after the end of each of the first
three fiscal quarters of each fiscal year of the Borrower (or, if earlier, five 
  

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(5) days after the date required to be filed with the SEC (without giving effect to any extension permitted by the SEC)), a consolidated balance sheet of the Borrower and its Subsidiaries as at
the end of such fiscal quarter, the related consolidated statements of income or operations for such fiscal quarter and for the portion of the Borrower’s fiscal year then ended, and the related consolidated statements of changes in
shareholders’ equity, and cash flows for the portion of the Borrower’s fiscal year then ended, in each case setting forth in comparative form, as applicable, the figures for the corresponding fiscal quarter of the previous fiscal year and
the corresponding portion of the previous fiscal year, all in reasonable detail, certified by the chief executive officer, chief financial officer, treasurer or controller of the Borrower as fairly presenting the financial condition, results of
operations, shareholders’ equity and cash flows of the Borrower and its Subsidiaries in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes. 

As to any information contained in materials furnished pursuant to Section 6.02(d), the Borrower shall not be separately
required to furnish such information under clause (a) or (b) above, but the foregoing shall not be in derogation of the obligation of the Borrower to furnish the information and materials described in clauses (a) and (b) above at
the times specified therein. 
 6.02 Certificates; Other Information. Deliver to the Administrative Agent and each
Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders: 
 (a) concurrently with the
delivery of the financial statements referred to in Section 6.01(a), a certificate of its independent certified public accountants certifying such financial statements and stating that in making the examination necessary therefor no
knowledge was obtained of any Default or, if any such Default shall exist, stating the nature and status of such event; 
 (b)
concurrently with the delivery of the financial statements referred to in Sections 6.01(a) and (b), a duly completed Compliance Certificate signed by a Responsible Officer of the Borrower (which delivery may, unless the Administrative
Agent, or a Lender requests executed originals, be by electronic communication including fax or email and shall be deemed to be an original authentic counterpart thereof for all purposes); 

(c) promptly after any request by the Administrative Agent or any Lender, copies of any detailed audit reports, management letters or
recommendations submitted to the board of directors (or the audit committee of the board of directors) of the Borrower by independent accountants in connection with the accounts or books of the Borrower or any Subsidiary, or any audit of any of
them; 
 (d) promptly after the same are available, copies of each annual report, proxy or financial statement or other report
or communication sent to the stockholders of the Borrower, and copies of all annual, regular, periodic and special reports and registration statements which the Borrower may file or be required to file with the SEC under Section 13 or 15(d) of
the Securities Exchange Act of 1934, and not otherwise required to be delivered to the Administrative Agent pursuant hereto; 
  

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 (e) promptly after the furnishing thereof, copies of any statement or report furnished to
any holder of debt securities of the Borrower or any Subsidiary thereof pursuant to the terms of any indenture, loan or credit or similar agreement and not otherwise required to be furnished to the Lenders pursuant to Section 6.01 or any
other clause of this Section 6.02; 
 (f) promptly, and in any event within five Business Days after receipt thereof
by the Borrower or any Subsidiary thereof, copies of each notice or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation or possible investigation or other inquiry by
such agency regarding financial or other operational results of the Borrower or any Subsidiary thereof; and 
 (g) promptly,
such additional information regarding the business, financial or corporate affairs of the Borrower or any Subsidiary, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender may from time to time reasonably
request. 
 Documents required to be delivered pursuant to Section 6.01(a) or (b) or
Section 6.02(d) (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically, which delivery shall be deemed to have occurred on the date (i) on which the Borrower posts
such documents, or provides a link thereto on the Borrower’s website on the Internet at the website address listed on Schedule 10.02; or (ii) on which such documents are posted on the Borrower’s behalf on an Internet or
intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website, the SEC website or a website sponsored by the Administrative Agent); provided that: (i) the Borrower
shall deliver paper copies of such documents to the Administrative Agent or any Lender upon its request to the Borrower to deliver such paper copies until a written request to cease delivering paper copies is given by the Administrative Agent or
such Lender and (ii) the Borrower shall notify the Administrative Agent and each Lender (by telecopier or electronic mail) of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions
(i.e., soft copies) of such documents. The Administrative Agent shall have no obligation to request the delivery of or to maintain paper copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance
by the Borrower with any such request by a Lender for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. 

The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Arranger will make available to the Lenders and the
L/C Issuer materials and/or information provided by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on IntraLinks or another similar electronic system (the
“Platform”) and (b) certain of the Lenders (each, a “Public Lender”) may have personnel who do not wish to receive material non-public information with respect to the Borrower or its Affiliates, or the
respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect to such Persons’ securities. The Borrower hereby agrees that (w) all Borrower Materials that are to be
made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Borrower

  

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Materials “PUBLIC,” the Borrower shall be deemed to have authorized the Administrative Agent, the Arranger, the L/C Issuer and the Lenders to treat such Borrower Materials as not
containing any material non-public information with respect to the Borrower or their securities for purposes of United States Federal and state securities laws (provided, however, that to the extent such Borrower Materials constitute
Information, they shall be treated as set forth in Section 10.07); (y) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Side
Information;” and (z) the Administrative Agent and the Arranger shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated
“Public Side Information.” Notwithstanding the foregoing, the Borrower shall be under no obligation to mark any Borrower Materials “PUBLIC.” 

6.03 Notices. Promptly notify the Administrative Agent and each Lender: 

(a) of the occurrence of any Default; 

(b) of any matter that has resulted or could reasonably be expected to result in a Material Adverse Effect, including, without
limitation, to the extent it has resulted or could so be expected to result in a Material Adverse Effect, (i) any breach or non-performance of, or any default under, a Contractual Obligation of the Borrower or any Subsidiary; (ii) any
dispute, litigation, investigation, proceeding or suspension between the Borrower or any Subsidiary and any Governmental Authority; or (iii) the commencement of, or any material development in, any litigation or proceeding affecting the
Borrower or any Subsidiary, including pursuant to any applicable Environmental Laws; 
 (c) of the occurrence of any ERISA
Event; and 
 (d) of any material change in accounting policies or financial reporting practices by the Borrower or any
Subsidiary, including any determination by the Borrower referred to in Section 2.11(b). 
 Each notice pursuant to
this Section 6.03 shall be accompanied by a statement of a Responsible Officer of the Borrower setting forth details of the occurrence referred to therein and stating what action the Borrower has taken and proposes to take with respect
thereto. Each notice pursuant to Section 6.03(a) shall describe with particularity any and all provisions of this Agreement and any other Loan Document that have been breached. 

6.04 Payment of Obligations. Pay and discharge as the same shall become due and payable, all its obligations and liabilities,
including (a) all tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in
accordance with GAAP are being maintained by the Borrower or its Subsidiaries; (b) all lawful claims which, if unpaid, would by law become a Lien upon its property; and (c) all Indebtedness, as and when due and payable, but subject to any
subordination provisions contained in any instrument or agreement evidencing such Indebtedness. 
 6.05 Preservation of
Existence, Etc. (a) Preserve, renew and maintain in full force and effect its legal existence and good standing under the Laws of the jurisdiction of its 

 

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organization except in a transaction permitted by Section 7.04 or 7.05; (b) take all reasonable action to maintain all rights, privileges, permits, licenses and franchises
necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) preserve or renew all of its registered patents, trademarks,
trade names and service marks, the non-preservation of which could reasonably be expected to have a Material Adverse Effect. 

6.06 Maintenance of Properties. (a) Maintain, preserve and protect all of its material properties and equipment necessary in
the operation of its business in good working order and condition, ordinary wear and tear excepted; and (b) make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be
expected to have a Material Adverse Effect. 
 6.07 Maintenance of Insurance. Maintain with financially sound and
reputable insurance companies not Affiliates of the Borrower, insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business, of such types and
in such amounts as are customarily carried under similar circumstances by such other Persons. 
 6.08 Compliance with Laws;
Contract; License and Permits. Comply in all material respects with all agreements and instruments by which any of the Borrower or its Subsidiaries may be bound, the requirements of all Laws and all orders, writs, injunctions, decrees, license
and permits applicable to it or to its business or property, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted; or
(b) the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect. 
 6.09 Books
and Records. Maintain proper books of record and account, in which full, true and correct entries in conformity with GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of the
Borrower or such Subsidiary, as the case may be. 
 6.10 Inspection Rights. Permit representatives and independent
contractors of the Administrative Agent and each Lender to visit and inspect any of its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and
accounts with its directors, officers, and independent public accountants, all at the expense of the Borrower and at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to the
Borrower; provided, however, that when an Event of Default exists the Administrative Agent or any Lender (or any of their respective representatives or independent contractors) may do any of the foregoing at the expense of the Borrower
at any time during normal business hours and without advance notice. 
 6.11 Use of Proceeds. Use the proceeds of the
Credit Extensions (a) for repayment of Indebtedness under the Existing Credit Agreement, (b) to pay the fees and expenses incurred by the Borrower in connection with this Agreement, (c) for acquisitions permitted under
Section 7.04(b), (d) for repayment of Indebtedness under the Existing Term Loans, (e) for Letters of Credit, and (f) for working capital and general corporate purposes (including capital expenditures and stock repurchases) not in
contravention of any Law or of any Loan Document. 
  

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 ARTICLE 7. 

NEGATIVE COVENANTS 

So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or
any Letter of Credit shall remain outstanding, the Borrower shall not, nor shall it permit any Subsidiary to, directly or indirectly: 

7.01 Liens. Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or
hereafter acquired, other than the following: 
 (a) Liens pursuant to any Loan Document; 

(b) Liens existing on the date hereof and listed on Schedule 7.01 and any renewals or extensions thereof, provided that
(i) the property covered thereby is not changed, (ii) the amount secured or benefited thereby is not increased except as contemplated by Section 7.03, (iii) the direct or any contingent obligor with respect thereto is not
changed, and (iv) any renewal or extension of the obligations secured or benefited thereby is permitted by Section 7.03; 

(c) Liens for taxes not yet due, or, in the case of real property taxes, not yet delinquent, or which are being contested in good faith
and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP; 

(d) statutory and common law rights of set-off and other customary similar rights and remedies as to deposits of cash, securities,
commodities and other funds in favor of banks, other depositary institutions, securities or commodities intermediaries or brokerages; 

(e) Liens of a collecting bank arising in the ordinary course of business under Section 4-208 of the Uniform Commercial Code in
effect in the relevant jurisdiction and covering only the items being collected upon; 
 (f) landlords’, carriers’,
warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens arising in the ordinary course of business which are securing amounts not overdue for a period of more than 30 days or which are being contested in good
faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person; 

(g) pledges or deposits in the ordinary course of business in connection with workers’ compensation, unemployment insurance and
other social security legislation, other than any Lien imposed by ERISA; 
 (h) deposits to secure the performance of bids,
trade contracts and leases (other than Indebtedness), statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business; 

 

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 (i) Liens that are contractual rights of setoff relating to purchase orders and other
agreements entered into with customers of such Person in the ordinary course of its business; 
 (j) easements, rights-of-way,
restrictions and other similar encumbrances affecting real property which, in the aggregate, are not substantial in amount, and which do not interfere in any material respect with the ordinary conduct of the business of the applicable Person;

 (k) Liens securing Indebtedness represented by financed insurance premiums in the ordinary course of business consistent with
past practice, provided that such Liens do not extend to any property or assets other than the corresponding insurance policies being financed; 

(l) Liens securing judgments for the payment of money not constituting an Event of Default under Section 8.01(h); and

 (m) Liens of the Borrower and its Subsidiaries securing Indebtedness (i) in respect of Capitalized Leases and purchase
money obligations for fixed or capital assets, and (ii) incurred in connection with the acquisition, construction or improvement fixed assets; provided, that the aggregate amount of all such Indebtedness at any one time outstanding under
clauses (i) and (ii) of this subsection (i) shall not exceed $50,000,000; and provided, further, that (x) such Liens do not at any time encumber any property other than the property financed by such Indebtedness and
(y) the Indebtedness secured thereby does not exceed the cost or fair market value, whichever is lower, of the property being acquired on the date of acquisition (or in the case of construction or improvement, the anticipated cost of completion
thereof); and 
 (n) Liens of the Borrower’s Subsidiaries not otherwise permitted by the foregoing clauses of this
Section 7.01 securing Indebtedness not in excess of $2,000,000 at any time outstanding. 
 Notwithstanding the foregoing,
in the event that the Borrower intends to grant a security interest in any of its assets to the holders of all or any part of the Existing Term Loans (the “Proposed Term Loan Liens”), the Borrower shall provide the Administrative
Agent with written notice thereof, and so long as simultaneously with the granting of such Proposed Term Loan Liens, the Borrower grants to the Administrative Agent, for the benefit of the Administrative Agent and the Lenders, a pari passu security
interest in the same assets, covered by the Proposed Term Loan Liens (and with the same priority), then such Proposed Term Loan Liens will not be a breach of this Section 7.01, so long as (i) the Administrative Agent and the Borrower have
entered into satisfactory collateral documentation evidencing and perfecting such security interest in favor of the Administrative Agent, and (ii) the Administrative Agent and such holders of the Existing Term Loans have entered into
satisfactory intercreditor arrangements with respect to all such security interests (to the extent required by the Administrative Agent). 

7.02 Reserved. 

7.03 Indebtedness of Subsidiaries. With respect to all Subsidiaries of the Borrower, create, incur, assume or suffer to exist any
Indebtedness in excess of $20,000,000 in the aggregate, other than Indebtedness of a wholly-owned Subsidiary of the Borrower owed to another wholly-owned Subsidiary of the Borrower. 

 

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 7.04 Fundamental Changes. 

(a) Merge, dissolve, liquidate, consolidate with or into another Person, or Dispose of (whether in one transaction or in a series of
transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person, except that, so long as no Default exists or would result therefrom: 

(i) any Person may merge with (i) the Borrower, provided that the Borrower is the continuing or surviving
Person, or (ii) a wholly-owned Subsidiary of the Borrower, provided that such wholly-owned Subsidiary will be the continuing or surviving Person; 

(ii) any Subsidiary may Dispose of all or substantially all of its assets (upon voluntary liquidation or otherwise) to the
Borrower or to a wholly-owned Subsidiary of the Borrower; 
 (iii) any Subsidiary may liquidate, sell, transfer,
lease or otherwise Dispose of all or substantially all of its assets if (A) such transaction is permitted by Section 7.05 and (B) the Borrower has determined in good faith that such action is not materially disadvantageous to the
interests of the Lenders; 
 (iv) in connection with any acquisition permitted under Section 7.04(b),
any Subsidiary may merge into or consolidate with any other Person or permit any other Person to merge into or consolidate with it; provided that the Person surviving such merger shall be a wholly-owned Subsidiary of the Borrower; and

 (v) any Subsidiary may dissolve if the purpose of such dissolution is to effect a transaction otherwise
permitted under Section 7.04(a)(ii) or (a)(iii). 
 (b) Purchase or acquire the Equity Interests in, or all
or substantially all of the property of, any Person except that the Borrower may consummate any such purchase or other acquisition so long as: 

(i) upon the consummation thereof, such acquisition target would be wholly-owned directly by the Borrower (including as a
result of a merger or consolidation): 
 (ii) such acquisition is non-hostile in nature; 

(iii) the business of the Person to be (or the property of which is to be) so purchased or otherwise acquired shall be
predominantly the same business as the business of the Borrower and its Subsidiaries, or, in the Borrower’s judgment, is a business that complements the business of the Borrower; 

 

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 (iv) (A) immediately before and immediately after giving pro forma
effect to any such purchase or other acquisition, no Default shall have occurred and be continuing and (B) immediately after giving effect to such purchase or other acquisition, the Borrower and its Subsidiaries shall be in pro forma compliance
with all of the covenants set forth in Section 7.11, such compliance to be determined on the basis of the financial information most recently delivered to the Administrative Agent and the Lenders pursuant to Section 6.01(a)
or (b) as though such purchase or other acquisition had been consummated as of the first day of the fiscal period covered thereby (using Consolidated EBITDA of the Borrower as at the end of the most recently completed fiscal quarter
referenced therein (but including any addbacks to Consolidated EBITDA previously approved by the Administrative Agent in connection with prior acquisitions) and Consolidated Funded Indebtedness as of the date of the acquisition, after giving effect
to any indebtedness incurred in connection therewith) as reflected, in the case of a Material Acquisition, by a Compliance Certificate demonstrating such compliance; 

(v) for any Material Acquisition, upon the request of the Administrative Agent, the Borrower shall provide to the
Administrative Agent (x) a copy of the purchase agreement and financial projections, together with audited (if available, or otherwise unaudited) financial statements for any Subsidiary to be acquired or created for the preceding two
(2) fiscal years or such shorter period of time as such Subsidiary has been in existence, (y) resolutions of the seller authorizing the purchase or other acquisition, and (z) a summary of the Borrower’s results of their standard
due diligence review; 
 (vi) for any other purchase or acquisition, the Borrower shall furnish the
Administrative Agent with the items set forth in subclause (v) above with the Compliance Certificate prepared for the next fiscal period; and 

(vii) the Borrower shall have delivered to the Administrative Agent and each Lender, at least five (5) Business Days
prior to the date on which any Material Acquisition is to be consummated, a certificate of a Responsible Officer, in form and substance reasonably satisfactory to the Administrative Agent and the Required Lenders, certifying that all of the
requirements set forth in this clause (b) have been satisfied or will be satisfied on or prior to the consummation of such purchase or other acquisition. 

7.05 Dispositions. Make any Disposition or enter into any agreement to make any Disposition, except: 

(a) Dispositions of obsolete, abandoned, worn out or no longer useful property, whether now owned or hereafter acquired, in the ordinary
course of business; 
 (b) Dispositions of inventory and immaterial assets in the ordinary course of business; 

 

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 (c) Dispositions of property to the extent that (i) such property is exchanged for
credit against the purchase price of property used or useful in the business of the Borrower and its Subsidiaries (other than inventory and financial assets) or (ii) the proceeds of such Disposition are reasonably promptly applied to the
purchase price of property used or useful in the business of the Borrower and its Subsidiaries (other than inventory and financial assets); 

(d) Dispositions of property subject to casualty or condemnation giving rise to the receipt of insurance proceeds or condemnation awards
to replace or repair such property; 
 (e) the Borrower and each of its Subsidiaries may surrender or waive contractual rights
and settle or waive contractual or litigation claims in the ordinary course of business; 
 (f) Dispositions permitted by
Section 7.04; 
 (g) Dispositions permitted by Section 7.12; 

(h) the sale or discount without recourse of accounts receivable arising in the ordinary course of business in connection with the
compromise or collection thereof; 
 (i) the abandonment, cancellation, non-renewal, or discontinuance of use or maintenance of
IP Rights if the Borrower determines in good faith that such Disposition is desirable in the conduct of its business and not materially disadvantageous to the interests of the Lenders; 

(j) non-exclusive licenses of IP Rights (i) in the ordinary course of business and (ii) otherwise, in each case which do not
materially interfere with the business of the Borrowers and their Subsidiaries, taken as a whole; 
 (k) transactions otherwise
permitted under Section 7.06; 
 (l) Dispositions of property by any Subsidiary to the Borrower or to a wholly-owned
Subsidiary; provided that if the transferor is a wholly-owned Subsidiary the transferee must be the Borrower or a wholly-owned Subsidiary (including Dispositions permitted by Section 7.04); 

(m) So long as no Default exists or would result therefrom, to the extent constituting a Disposition, the issuance by the Borrower or any
of its Subsidiaries of its Equity Interests; and 
 (n) Dispositions by the Borrower and its Subsidiaries not otherwise
permitted under this Section 7.05; provided that (i) at the time of such Disposition, no Default shall exist or would result from such Disposition and (ii) the aggregate book value of all property Disposed of in reliance
on this clause (n) during the term of this Agreement shall not exceed $50,000,000; 
 provided, however, that any Disposition
pursuant to this Section 7.05 (except for Dispositions pursuant to clauses (d), (f), (h), (k), (l) and, solely with respect to Subsidiaries of the Borrower, (m) of this Section 7.05) shall be for fair market value. 

 

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 7.06 Restricted Payments. Declare or make, directly or indirectly, any Restricted
Payment, or incur any obligation (contingent or otherwise) to do so, except that: 
 (a) so long as no Default shall have
occurred and be continuing at the time of any action described below or would result therefrom: 
 (i) each
Subsidiary of the Borrower may make Restricted Payments to the Borrower or any wholly-owned Subsidiary of the Borrower, ratably according to their respective holdings of the type of Equity Interest in respect of which such Restricted Payment is
being made; 
 (ii) the Borrower and each Subsidiary may declare and make dividend payments or other
distributions payable solely in the common stock or other common Equity Interests of such Person; 
 (iii) the
Borrower and each Subsidiary may purchase, redeem or otherwise acquire Equity Interests issued by it with the proceeds received from the substantially concurrent issue of new shares of its common stock or other common Equity Interests; 

(b) so long as no Event of Default pursuant to Section 8.01(a) shall have occurred and be continuing, the Borrower may make
Restricted Payments. 
 7.07 Change in Nature of Business; Fiscal Year. Engage in any business not predominantly the same
as the business conducted by the Borrower and its Subsidiaries on the date hereof, or any business, in the Borrower’s judgment, that does not complement the business of the Borrower, or change its fiscal year. 

7.08 Transactions with Affiliates. Enter into any transaction of any kind with any Affiliate of the Borrower, whether or not in
the ordinary course of business, other than (a) transactions in the ordinary course of business at prices and on terms substantially as favorable to the Borrower or such Subsidiary as would be obtainable by the Borrower or such Subsidiary at
the time in a comparable arm’s length transaction with a Person other than an Affiliate; (b) transactions between and among the wholly-owned Subsidiaries of the Borrower and not involving any other Affiliate, and not otherwise in
contravention of any provision of this Agreement, (c) loans to employees of the Borrower or any Subsidiary for relocation expenses or other purposes; provided that the aggregate outstanding principal amount of the loans permitted under
this clause (c) shall not exceed $1,000,000 at any one time, (d) customary obligations to directors and officers of the Borrower and its Subsidiaries in respect of indemnification and reimbursement of expenses, (e) the payment of
customary fees (in the form of cash, stock options or stock) to directors of the Borrower, (f) the payment of compensation to officers of the Borrower approved by the Board of Directors of the Borrower and the payment of deferred compensation
to officers of the Borrower pursuant to the Harte-Hanks, Inc. Deferred Compensation Plan (including any amendments, modifications or replacements thereof; provided that such amendment, modification or replacement does not substantially change the
character of such deferred compensation program), (g) the payment of bonuses to officers of the Borrower approved by the Board of Directors of the Borrower, (h) the issuance of stock of the Borrower

  

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and of options to purchase stock of the Borrower pursuant to the Harte-Hanks 2005 Omnibus Incentive Plan (including any amendments, modifications or replacements thereof; provided that such
amendment, modification or replacement does not substantially change the character of such stock option program) and (i) so long as no Event of Default has occurred or is continuing under Section 8.01(a), the purchase of stock of the
Borrower and of options to purchase stock of the Borrower pursuant to the Borrower’s stock repurchase program that was publicly announced in January 1997, as amended from time to time. 

7.09 Burdensome Agreements. Enter into any Contractual Obligation (other than this Agreement or any other Loan Document) that
(a) limits the ability (i) of any Subsidiary to make Restricted Payments to the Borrower or another Subsidiary or to otherwise transfer property to the Borrower or another Subsidiary, except for Contractual Obligations of the Subsidiaries
of the Borrower, solely with respect to limitations on transfers of property and not with respect to limitations on the ability of any Subsidiary to make Restricted Payments, (A) that arise in connection with any Disposition permitted pursuant
to Section 7.05 and relate solely to the assets or Person subject to such Disposition, (B) that are customary provisions restricting assignments, subletting, sublicensing, pledging or other transfers contained in leases, licenses,
conveyances, sales contracts and other agreements (provided that such restrictions are subject to Sections 9-407 and 9-408 of the UCC and are limited to the agreement itself or the property or assets secured by such Liens or the property or assets
subject to such leases, licenses, conveyances, sales contracts or agreements, as the case may be), (C) that are in effect or committed on the date hereof and set forth on Schedule 7.09, (D) that are customary restrictions on
transfer in joint venture agreements and applicable solely to Equity Interests in such joint venture, (E) that are contained in any document, agreement or instrument governing or relating to any Lien permitted under Sections 7.01(h) and
7.01(m), provided in each case that any such restriction relates only to the assets or property subject to such Lien, and (F) that are set forth in any agreement evidencing any permitted amendments, restatements, supplements,
modifications, extensions, renewals and replacements of the agreements described in clause (C) so long as such amendment restatement, supplement, modification, extension, renewal or replacement does not expand the scope of any limitation
contained therein; (ii) of any Subsidiary to Guarantee the Indebtedness of the Borrower; or (iii) of the Borrower or any Subsidiary to create, incur, assume or suffer to exist Liens on property of such Person; provided,
however, that this clause (iii) shall not prohibit any negative pledge (x) incurred or provided in favor of any holder of Indebtedness permitted under Section 7.01(m), solely to the extent any such negative pledge
relates only to the property financed by or the subject of such Indebtedness (and identifiable proceeds thereof) and to no other assets (including unidentifiable proceeds), or (y) as set forth under Section 6.01 of each of the Existing
Term Loan Agreements; or (b) requires the grant of a Lien to secure an obligation of such Person if a Lien is granted to secure another obligation of such Person. 

7.10 Use of Proceeds. Use the proceeds of any Credit Extension, whether directly or indirectly, and whether immediately,
incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally incurred for such
purpose. 
  

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 7.11 Financial Covenants. 

(a) Consolidated Interest Coverage Ratio. Permit the Consolidated Interest Coverage Ratio, as of the end of any fiscal quarter of
the Borrower, for the Reference Period then ending to be less than 2.75:1.00. 
 (b) Consolidated Leverage Ratio. Permit
the Consolidated Leverage Ratio, as of the end of any fiscal quarter of the Borrower, for the Reference Period then ending to be greater than 3.00:1.00. 

7.12 Sale and Leaseback. Enter into any arrangement, directly or indirectly, whereby the Borrower shall sell or transfer any
property owned by it in order then or thereafter to lease such property or lease other property which the Borrower intends to use for substantially the same purpose as the property being sold or transferred; provided, that the Borrower may
enter into any such arrangements so long as the sale price of all such transactions does not exceed $10,000,000 in the aggregate during the term of this Agreement. 

7.13 Employee Benefit Plans. 

(a) Engage in any “prohibited transaction” within the meaning of Section 406 of ERISA or Section 4975 of the Code
which could result in a material liability for the Borrower or any of its Subsidiaries; or 
 (b) Permit any Pension Plan to
incur an “accumulated funding deficiency”, as such term is defined in Section 302 of ERISA, whether or not such deficiency is or may be waived; or 

(c) Fail to contribute to any Pension Plan as required by Section 412 of the Code or request any waiver under Section 412 of
the Code; or 
 (d) Fail to contribute to any Pension Plan to an extent which, or terminate any Pension Plan in a manner which,
could result in the imposition of a lien or encumbrance on the assets of the Borrower pursuant to Section 4068 of ERISA. 

The Borrower will (i) at the request of any Lender, upon filing the same with the Department of Labor or Internal Revenue Service,
furnish to such requesting Lender a copy of the most recent actuarial statement required to be submitted under §103(d) of ERISA and Annual Report, Form 5500, with all required attachments, in respect of each Pension Plan and (ii) promptly
upon receipt or dispatch, furnish to the Lenders any notice, report or demand sent or received in respect of a Pension Plan under §§204(h), 302-305, 4041, 4042, 4043, 4063, 4065, 4066 and 4068 of ERISA or under Sections 4971 and 4980F of
the Code, or in respect of a Multiemployer Plan, under §§4041A, 4202, 4219, or 4245 of ERISA, or in respect of a Pension Plan, a Multiemployer Plan, the ESOP or any other Plan, under Section 4975 of the Code, or in respect of any Plan
that is a “group health plan” under either of Sections 5000(b)(1) or 9832(a) of the Code, under Sections 4980B or 4980D of the Code. 

7.14 Foreign Operations. Foreign Subsidiaries of the Borrower, whether direct or indirect, shall not at any time account for more
than 20% of the aggregate consolidated revenue or aggregate value of the assets of the Borrower and its Subsidiaries. 
  

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 ARTICLE 8. 

EVENTS OF DEFAULT AND REMEDIES 

8.01 Events of Default. Any of the following shall constitute an Event of Default: 

(a) Non-Payment. The Borrower fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan or
any Unreimbursed Amounts or any L/C Borrowings with respect to any L/C Obligation or deposit any funds as Cash Collateral in respect of L/C Obligations to the extent required hereunder, or (ii) within three (3) Business Days after the same
becomes due, any interest on any Loan or on any L/C Obligation, or any fee due hereunder, or (iii) within thirty (30) days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or 

(b) Specific Covenants. The Borrower fails to perform or observe any term, covenant or agreement (not specified in subsection
(a) above) contained in any of Sections 6.01, 6.02, 6.03(a), 6.03(b), 6.03(c), 6.05, 6.10 and 6.11 or Article VII; or 

(c) Other Defaults. The Borrower fails to perform or observe any other covenant or agreement (not specified in subsection
(a) or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for 30 days; or 

(d) Representations and Warranties. Any representation, warranty, certification or written statement of fact made or deemed made
by or on behalf of the Borrower herein, in any other Loan Document, or in any document delivered in connection herewith or therewith shall be incorrect or misleading in any material respect (except for representations and warranties that are
qualified by materiality, which shall not be incorrect or misleading in any respect) when made or deemed made; or 
 (e)
Cross-Default. (i) The Borrower or any Subsidiary (A) fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of (x) any of the Existing Term Loans
or (y) any other Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all
creditors under any combined or syndicated credit arrangement) of more than $20,000,000, in each case beyond the expiration of the grace or cure period, if any, provided therefor, or (B) fails to observe or perform any other agreement or
condition relating to any of the Existing Term Loans or any such other Indebtedness or Guarantee or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other
event is to cause, or to permit the holder or holders of any such Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the
giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, in
each case, prior to its stated maturity, or such Guarantee to become payable or cash collateral in respect thereof to be demanded; or (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract)
resulting from (A) any event of default under such Swap Contract as to which the 
  

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Borrower or any Subsidiary is the Defaulting Party (as defined in such Swap Contract) or (B) any Termination Event (as so defined) under such Swap Contract as to which the Borrower or any
Subsidiary is an Affected Party (as so defined), in each case beyond the expiration of the grace or cure period, if any, provided therefor, and, in either event, the Swap Termination Value owed by the Borrower or such Subsidiary as a result thereof
is greater than $20,000,000; or 
 (f) Insolvency Proceedings, Etc. The Borrower or any of its Subsidiaries institutes or
consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator
or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of such Person and the
appointment continues undischarged or unstayed for 60 calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of its property is instituted without the consent of such Person and
continues undismissed or unstayed for 60 calendar days, or an order for relief is entered in any such proceeding; or 
 (g)
Inability to Pay Debts; Attachment. (i) The Borrower or any Subsidiary becomes unable or admits in writing its inability or fails generally to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution
or similar process is issued or levied against all or any material part of the property of any such Person and is not released, vacated or fully bonded within 60 days after its issue or levy; or 

(h) Judgments. There is entered against the Borrower or any Subsidiary (i) one or more final judgments or orders for the
payment of money in an aggregate amount (as to all such judgments or orders) exceeding $20,000,000 (to the extent not covered by independent third-party insurance as to which the insurer does not dispute coverage), or (ii) any one or more
non-monetary final judgments that have, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and, in either case, (A) enforcement proceedings are commenced by any creditor upon such judgment or
order, or (B) there is a period of 10 consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect; or 

(i) ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan that has resulted or could
reasonably be expected to result in liability to the Borrower or its Subsidiaries in excess of $5,000,000; or 
 (j)
Invalidity of Loan Documents. Any Loan Document, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all the Obligations, ceases to be in full
force and effect; or the Borrower or any other Person contests in any manner the validity or enforceability of any Loan Document; or the Borrower denies that it has any or further liability or obligation under any Loan Document, or purports to
revoke, terminate or rescind any Loan Document; or 
 (k) Change of Control. There occurs any Change of Control.

  

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 8.02 Remedies Upon Event of Default. If any Event of Default occurs and is
continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions: 

(a) declare the commitment of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions to be
terminated, whereupon such commitments and obligation shall be terminated; 
 (b) declare the unpaid principal amount of all
outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of
which are hereby expressly waived by the Borrower; 
 (c) require that the Borrower Cash Collateralize the L/C Obligations (in
an amount equal to the then Outstanding Amount thereof); and 
 (d) exercise on behalf of itself, the Lenders and the L/C Issuer
all rights and remedies available to it, the Lenders and the L/C Issuer under the Loan Documents; 
 provided, however, that upon
the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code of the United States, the obligation of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit
Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable, and the obligation of the Borrower to Cash Collateralize the
L/C Obligations as aforesaid shall automatically become effective, in each case without further act of the Administrative Agent or any Lender. 

8.03 Application of Funds. After the exercise of remedies provided for in Section 8.02 (or after the Loans have
automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02), any amounts received on account of the Obligations shall,
subject to the provisions of Sections 2.17 and 2.18, be applied by the Administrative Agent in the following order: 

First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees,
charges and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in its capacity as such; 

Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal,
interest and Letter of Credit Fees) payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective Lenders and the L/C Issuer and amounts payable under Article III), ratably among them in
proportion to the respective amounts described in this clause Second payable to them; 
 Third, to payment of that
portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans, L/C Borrowings and other Obligations, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this
clause Third payable to them; 
  

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 Fourth, to payment of that portion of the Obligations constituting unpaid principal
of the Loans and L/C Borrowings, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Fourth held by them; 

Fifth, to the Administrative Agent for the account of the L/C Issuer, to Cash Collateralize that portion of L/C Obligations
comprised of the aggregate undrawn amount of Letters of Credit to the extent not otherwise Cash Collateralized by the Borrower pursuant to Sections 2.04 and 2.17; and 

Last, the balance, if any, after all of the Obligations have been indefeasibly paid in full, to the Borrower or as otherwise
required by Law. 
 Subject to Sections 2.04(c) and 2.17, amounts used to Cash Collateralize the aggregate undrawn amount of
Letters of Credit pursuant to clause Fifth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or
expired, such remaining amount shall be applied to the other Obligations, if any, in the order set forth above. 
 ARTICLE 9.

 ADMINISTRATIVE AGENT 

9.01 Appointment and Authority. Each of the Lenders and the L/C Issuer hereby irrevocably appoints Bank of America to act on its
behalf as the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof
or thereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Administrative Agent, the Lenders and the L/C Issuer, and the Borrower shall not have rights as
a third party beneficiary of any of such provisions. 
 9.02 Rights as a Lender. The Person serving as the Administrative
Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or “Lenders” shall, unless
otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the
financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to
account therefor to the Lenders. 
 9.03 Exculpatory Provisions. The Administrative Agent shall not have any duties or
obligations except those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, the Administrative Agent: 

(a) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing;

  

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 (b) shall not have any duty to take any discretionary action or exercise any discretionary
powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of
the Lenders as shall be expressly provided for herein or in the other Loan Documents), provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative
Agent to liability or that is contrary to any Loan Document or applicable law; and 
 (c) shall not, except as expressly set
forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving
as the Administrative Agent or any of its Affiliates in any capacity. 
 The Administrative Agent shall not be liable for any
action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be
necessary, under the circumstances as provided in Sections 10.01 and 8.02) or (ii) in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default
unless and until notice describing such Default is given to the Administrative Agent by the Borrower, a Lender or the L/C Issuer. 

The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or
representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the
performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any
other Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the
Administrative Agent. 
 9.04 Reliance by Administrative Agent. The Administrative Agent shall be entitled to rely upon,
and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed
by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person,
and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or the issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the
L/C Issuer, the Administrative Agent may presume that such condition is satisfactory to such Lender or the L/C Issuer unless the Administrative Agent shall have received notice to the contrary from

  

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such Lender or the L/C Issuer prior to the making of such Loan or the issuance of such Letter of Credit. The Administrative Agent may consult with legal counsel (who may be counsel for the
Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

9.05 Delegation of Duties. The Administrative Agent may perform any and all of its duties and exercise its rights and powers
hereunder or under any other Loan Document by or through any one or more sub agents appointed by the Administrative Agent. The Administrative Agent and any such sub agent may perform any and all of its duties and exercise its rights and powers by or
through their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub agent and to the Related Parties of the Administrative Agent and any such sub agent, and shall apply to their respective activities in
connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. 

9.06 Resignation of Administrative Agent. 

(a) The Administrative Agent may at any time give notice of its resignation to the Lenders, the L/C Issuer and the Borrower. Upon receipt
of any such notice of resignation, the Required Lenders shall have the right, in consultation with the Borrower (and so long as no Default or Event of Default then exists, the Borrower shall have the right to consent to any such successor, which
such consent shall not be unreasonably withheld or delayed; provided, that, such consent right of the Borrower shall not apply to any Person that is a Lender as of the Closing Date), to appoint a successor, which shall be a bank with an
office in the United States, or an Affiliate of any such bank with an office in the United States. If no such successor shall have been so appointed by the Required Lenders (and consented to by the Borrower, if such consent is required) and shall
have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may on behalf of the Lenders and the L/C Issuer, appoint a successor Administrative Agent
meeting the qualifications set forth above; provided that if the Administrative Agent shall notify the Borrower and the Lenders that no qualifying Person has accepted such appointment, or if the Borrower has refused consent to any such
Person, then such resignation shall nonetheless become effective in accordance with such notice and (1) the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except
that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders or the L/C Issuer under any of the Loan Documents, the retiring Administrative Agent shall continue to hold such collateral security until such
time as a successor Administrative Agent is appointed, provided, that if no such successor is appointed within thirty (30) days after the retiring Administrative Agent’s notice of resignation, the retiring Administrative Agent shall
have the right, at its election, to transfer all such collateral security to any other Person who is then a Lender (and each Lender hereby agrees to accept such collateral security as collateral agent on behalf of itself and the other Lenders and
the L/C Issuer in such event)) and (2) all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender and the L/C Issuer directly, until such time as a
successor Administrative Agent is appointed as provided for above in this Section. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights,
powers, 
  

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privileges and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the
other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between
the Borrower and such successor. After the retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article and Section 10.04 shall continue in effect for the benefit of such
retiring Administrative Agent, its sub agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring Administrative Agent was acting as Administrative Agent. 

(b) Any resignation by Bank of America as Administrative Agent pursuant to this Section shall also constitute its resignation as L/C
Issuer and Swing Line Lender. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring
L/C Issuer and Swing Line Lender, (b) the retiring L/C Issuer and Swing Line Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and (c) the successor L/C Issuer shall
issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the retiring L/C Issuer to effectively assume the obligations of the retiring L/C Issuer
with respect to such Letters of Credit. 
 9.07 Non-Reliance on Administrative Agent and Other Lenders. Each Lender and
the L/C Issuer acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own
credit analysis and decision to enter into this Agreement. Each Lender and the L/C Issuer also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based
on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document
furnished hereunder or thereunder. 
 9.08 No Other Duties, Etc. Anything herein to the contrary notwithstanding, the
Arranger listed on the cover page hereof shall have no powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender or the L/C Issuer
hereunder. 
 9.09 Administrative Agent May File Proofs of Claim. In case of the pendency of any proceeding under any
Debtor Relief Law or any other judicial proceeding relative to the Borrower, the Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration or
otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise 

(a) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, L/C
Obligations and all other Obligations that are 
  

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owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the L/C Issuer and the Administrative Agent (including any claim for
the reasonable compensation, expenses, disbursements and advances of the Lenders, the L/C Issuer and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders, the L/C Issuer and the Administrative Agent
under Sections 2.04(i) and (j), 2.10 and 10.04) allowed in such judicial proceeding; and 
 (b) to
collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same; 
 and any custodian,
receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender and the L/C Issuer to make such payments to the Administrative Agent and, in the event that the
Administrative Agent shall consent to the making of such payments directly to the Lenders and the L/C Issuer, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the
Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Sections 2.10 and 10.04. 

Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of
any Lender or the L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or the L/C Issuer to authorize the Administrative Agent to vote in respect of the claim of any
Lender or the L/C Issuer in any such proceeding. 
 9.10 Collateral Matters. The Lenders and the L/C Issuer irrevocably
authorize the Administrative Agent, at its option and in its discretion, 
 (a) to release any Lien on any property granted to
or held by the Administrative Agent under any Loan Document (i) upon termination of the Aggregate Commitments and payment in full of all Obligations (other than contingent indemnification obligations) and the expiration or termination of all
Letters of Credit (other than Letters of Credit as to which other arrangements satisfactory to the Administrative Agent and the L/C Issuer shall have been made), (ii) that is sold or to be sold as part of or in connection with any sale
permitted hereunder or under any other Loan Document, or (iii) subject to Section 10.01, if approved, authorized or ratified in writing by the Required Lenders; and 

(b) to subordinate any Lien on any property granted to or held by the Administrative Agent under any Loan Document to the holder of any
Lien on such property that is permitted by Section 7.01(i). 
 Upon request by the Administrative Agent at any time,
the Required Lenders will confirm in writing the Administrative Agent’s authority to release or subordinate its interest in particular types or items of property. 
  

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 ARTICLE 10. 

MISCELLANEOUS 

10.01 Amendments, Etc. No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any
departure by the Borrower therefrom, shall be effective unless in writing signed by the Required Lenders and the Borrower, and acknowledged by the Administrative Agent, and each such waiver or consent shall be effective only in the specific instance
and for the specific purpose for which given; provided, however, that no such amendment, waiver or consent shall: 

(a) waive any condition set forth in Section 4.01(a) without the written consent of each Lender; provided,
however, in the sole discretion of the Administrative Agent, only a waiver by the Administrative Agent shall be required with respect to immaterial matters or items specified in Section 4.01(a)(iii) or (iv) and other
items noted in a post-closing letter made available to the Lenders with respect to which the Borrower has given assurances satisfactory to the Administrative Agent that such items shall be delivered promptly following the Closing Date; 

(b) extend or increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant to Section 8.02) without
the written consent of such Lender; 
 (c) postpone any date fixed by this Agreement or any other Loan Document for any payment
(excluding mandatory prepayments, if any) of principal, interest, fees or other amounts due to the Lenders (or any of them) hereunder or under any other Loan Document without the written consent of each Lender directly affected thereby (it being
understood that any vote to rescind acceleration of amounts owing with respect to the Loans and other Obligations under the Loan Documents shall only require the approval of the Required Lenders) 

(d) reduce the principal of, or the rate of interest specified herein on, any Loan or L/C Borrowing, or (subject to clause
(iv) of the second proviso to this Section 10.01) any fees or other amounts payable hereunder or under any other Loan Document, without the written consent of each Lender directly affected thereby; provided,
however, that only the consent of the Required Lenders shall be necessary (i) to amend the definition of “Default Rate” or to waive any obligation of the Borrower to pay interest or L/C Fees at the Default Rate or (ii) to
amend any financial covenant hereunder (or any defined term used therein) even if the effect of such amendment would be to reduce the rate of interest on any Loan or L/C Borrowing or to reduce any fee payable hereunder; 

(e) change Section 8.03 in a manner that would alter the pro rata sharing of payments required thereby without the written
consent of each Lender; or 
 (f) change any provision of this Section or the definition of “Required Lenders” or any
other provision hereof specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent of each Lender; or

 and, provided further, that (i) no amendment, waiver or consent shall, unless in writing and signed by the L/C Issuer in
addition to the Lenders required above, affect the rights or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter of Credit 

 

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issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing and signed by the Swing Line Lender in addition to the Lenders required above, affect the rights
or duties of the Swing Line Lender under this Agreement; (iii) no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above, affect the rights or duties of the
Administrative Agent under this Agreement or any other Loan Document; and (iv) the Fee Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto. Notwithstanding anything to the contrary
herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be
effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (x) the Commitment of any Defaulting Lender may not be increased or extended without the consent of such Lender and (y) any waiver, amendment
or modification requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender more adversely than other affected Lenders shall require the consent of such Defaulting Lender. 

Notwithstanding any provision herein to the contrary, this Agreement may be amended with the written consent of the Required Lenders, the
Administrative Agent and the Borrower (i) to add one or more additional revolving credit or term loan facilities to this Agreement, in each case subject to the limitations in Section 2.14, and to permit the extensions of credit and
all related obligations and liabilities arising in connection therewith from time to time outstanding to share ratably in the benefits of this Agreement and the other Loan Documents with the obligations and liabilities from time to time outstanding
in respect of the existing facilities hereunder, and (ii) in connection with the foregoing, to permit, as deemed appropriate by the Administrative Agent, the Lenders providing such additional credit facilities to participate in any required
vote or action required to be approved by the Required Lenders or by any other number, percentage or class of Lenders hereunder. 

If any Lender does not consent to a proposed amendment, waiver, consent or release with respect to any Loan Document that requires the
consent of each Lender, or requires the consent of each Lender directly affected by such proposed amendment, waiver, consent or release, and such amendment, waiver, consent or release has been approved by the Required Lenders or, as applicable, by
more than fifty percent (50%) of the Lenders who would be directly affected by such amendment, waiver, consent or release, the Borrower may repay such non-consenting Lender’s Loans on a non-pro-rata basis (and, in the case of repayments of
Committed Loans, reduce such non-consenting Lender’s Commitment on a non-pro-rata basis in connection therewith) or may replace such non-consenting Lender in accordance with Section 10.13; provided that such amendment,
waiver, consent or release can be effected as a result of the assignment contemplated by such Section and/or by such repayment (together with all other such repayments effected by, or assignments required by, the Borrower to be made pursuant to this
paragraph), and provided, further, that after giving effect to any such repayment of Committed Loans (and corresponding reductions in the Aggregate Commitments), the Borrower have at least $35,000,000 in unused Aggregate Commitments.

  

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 10.02 Notices; Effectiveness; Electronic Communication. 

(a) Notices Generally. Except in the case of notices and other communications expressly permitted to be given by telephone (and
except as provided in subsection (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopier
as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 

(i) if to the Borrower, the Administrative Agent, the L/C Issuer or the Swing Line Lender, to the address, telecopier
number, electronic mail address or telephone number specified for such Person on Schedule 10.02; and 

(ii) if to any other Lender, to the address, telecopier number, electronic mail address or telephone number specified in
its Administrative Questionnaire (including, as appropriate, notices delivered solely to the Person designated by a Lender on its Administrative Questionnaire then in effect for the delivery of notices that may contain material non-public
information relating to the Borrower). 
 Notices and other communications sent by hand or overnight courier service, or mailed by certified or
registered mail, shall be deemed to have been given when received; notices and other communications sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be
deemed to have been given at the opening of business on the next business day for the recipient). Notices and other communications delivered through electronic communications to the extent provided in subsection (b) below, shall be effective as
provided in such subsection (b). 
 (b) Electronic Communications. Notices and other communications to the Lenders and
the L/C Issuer hereunder may be delivered or furnished by electronic communication (including e mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply
to notices to any Lender or the L/C Issuer pursuant to Article II if such Lender or the L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication.
The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures
may be limited to particular notices or communications. 
 Unless the Administrative Agent otherwise prescribes,
(i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as
available, return e-mail or other written acknowledgement), provided that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at
the opening of business on the next business day for the recipient, and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as
described in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address therefor. 
  

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 (c) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS
AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO
WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN
CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower, any Lender, the L/C Issuer or
any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of the Borrower’s or the Administrative Agent’s transmission of Borrower Materials through the Internet,
except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of competent jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Agent
Party; provided, however, that in no event shall any Agent Party have any liability to the Borrower, any Lender, the L/C Issuer or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to
direct or actual damages). 
 (d) Change of Address, Etc. Each of the Borrower, the Administrative Agent, the L/C Issuer
and the Swing Line Lender may change its address, telecopier or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change its address, telecopier or telephone number for
notices and other communications hereunder by notice to the Borrower, the Administrative Agent, the L/C Issuer and the Swing Line Lender. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the
Administrative Agent has on record (i) an effective address, contact name, telephone number, telecopier number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such
Lender. Furthermore, each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the “Private Side Information” or similar designation on the content declaration screen of
the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and applicable Law, including United States Federal and state securities Laws, to make reference to Borrower
Materials that are not made available through the “Public Side Information” portion of the Platform and that may contain material non-public information with respect to the Borrower or its securities for purposes of United States Federal
or state securities laws. 
 (e) Reliance by Administrative Agent, L/C Issuer and Lenders. The Administrative Agent, the L/C
Issuer and the Lenders shall be entitled to rely and act upon any notices (including telephonic Committed Loan Notices and Swing Line Loan Notices) purportedly given by or on behalf of the Borrower even if (i) such notices were not made in a
manner specified herein, were incomplete or were not preceded or followed by any other form of 
  

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notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrower shall indemnify the Administrative Agent, the L/C
Issuer, each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Borrower. All telephonic notices to and
other telephonic communications with the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording. 

10.03 No Waiver; Cumulative Remedies; Enforcement. No failure by any Lender, the L/C Issuer or the Administrative Agent to
exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or under any
other Loan Document preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under each other Loan Document, are
cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. 
 Notwithstanding anything to the
contrary contained herein or in any other Loan Document, the authority to enforce rights and remedies hereunder and under the other Loan Documents against the Borrower or any of them shall be vested exclusively in, and all actions and proceedings at
law in connection with such enforcement shall be instituted and maintained exclusively by, the Administrative Agent in accordance with Section 8.02 for the benefit of all the Lenders and the L/C Issuer; provided, however,
that the foregoing shall not prohibit (a) the Administrative Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan
Documents, (b) the L/C Issuer or the Swing Line Lender from exercising the rights and remedies that inure to its benefit (solely in its capacity as L/C Issuer or Swing Line Lender, as the case may be) hereunder and under the other Loan
Documents, (c) any Lender from exercising setoff rights in accordance with Section 10.08 (subject to the terms of Section 2.14), or (d) any Lender from filing proofs of claim or appearing and filing pleadings on its
own behalf during the pendency of a proceeding relative to the Borrower under any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as Administrative Agent hereunder and under the other Loan
Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 8.02 and (ii) in addition to the matters set forth in clauses (b), (c) and (d) of the
preceding proviso and subject to Section 2.14, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Required Lenders. 

10.04 Expenses; Indemnity; Damage Waiver. 

(a) Costs and Expenses. The Borrower shall pay (i) all reasonable out of pocket expenses incurred by the Administrative Agent
and its Affiliates (including the reasonable fees, charges and disbursements of counsel for the Administrative Agent), in connection with the syndication of the credit facilities provided for herein, the preparation, negotiation, execution, delivery
and administration of this Agreement and the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) all
reasonable out of 
  

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pocket expenses incurred by the L/C Issuer in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all out of
pocket expenses incurred by the Administrative Agent, any Lender or the L/C Issuer (including the fees, charges and disbursements of any counsel for the Administrative Agent, any Lender or the L/C Issuer), in connection with the enforcement or
protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Loans made or Letters of Credit issued hereunder, including all such out of
pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 
 (b)
Indemnification by the Borrower. The Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), each Lender and the L/C Issuer, and each Related Party of any of the foregoing Persons (each such Person being called an
“Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (including the fees, charges and disbursements of any counsel for any Indemnitee), incurred by any
Indemnitee or asserted against any Indemnitee by any third party or by the Borrower or any of its Subsidiaries arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any
agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder, the consummation of the transactions contemplated hereby or thereby, or, in the case of the
Administrative Agent (and any sub-agent thereof) and its Related Parties only, the administration of this Agreement and the other Loan Documents (including in respect of any matters addressed in Section 3.01), (ii) any Loan or
Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the L/C Issuer to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply
with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower or any of its Subsidiaries, or any Environmental Liability related in any
way to the Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third
party or by the Borrower or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, IN ALL CASES, WHETHER OR NOT CAUSED BY OR ARISING, IN WHOLE OR IN PART, OUT OF THE COMPARATIVE, CONTRIBUTORY OR SOLE NEGLIGENCE OF
THE INDEMNITEE; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by
final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or (y) result from a claim brought by the Borrower or any of its Subsidiaries against an Indemnitee for breach in bad faith of
such Indemnitee’s obligations hereunder or under any other Loan Document, if the Borrower or any of its Subsidiaries have obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction.
Notwithstanding anything to the contrary in the foregoing, this Section 10.04(b) shall not duplicate the provisions regarding indemnification obligations of the Borrower under Sections 3.01(a) or 3.01(c). 

(c) Reimbursement by Lenders. To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under
subsection (a) or (b) of this Section to 
  

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be paid by it to the Administrative Agent (or any sub-agent thereof), the L/C Issuer or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent
(or any such sub-agent), the L/C Issuer or such Related Party, as the case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount,
provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent) or the L/C Issuer in its
capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent) or L/C Issuer in connection with such capacity. The obligations of the Lenders under this subsection (c) are
subject to the provisions of Section 2.13(d). 
 (d) Waiver of Consequential Damages, Etc. To the fullest
extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages)
arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the
proceeds thereof. No Indemnitee referred to in subsection (b) above shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed to such unintended recipients by such Indemnitee
through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby other than for direct or actual damages resulting from
the gross negligence or willful misconduct of such Indemnitee as determined by a final and nonappealable judgment of a court of competent jurisdiction. 

(e) Payments. All amounts due under this Section shall be payable not later than ten Business Days after demand therefor.

 (f) Survival. The agreements in this Section shall survive the resignation of the Administrative Agent, the L/C Issuer
and the Swing Line Lender, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations. 

10.05 Payments Set Aside. To the extent that any payment by or on behalf of the Borrower is made to the Administrative Agent, the
L/C Issuer or any Lender, or the Administrative Agent, the L/C Issuer or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or
preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent, the L/C Issuer or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any
proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not
been made or such setoff had not occurred, and (b) each Lender and the L/C Issuer severally agrees to pay to the Administrative Agent upon demand its applicable share (without duplication) of any amount so recovered from or repaid by the
Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a 
  

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rate per annum equal to the Federal Funds Rate from time to time in effect. The obligations of the Lenders and the L/C Issuer under clause (b) of the preceding sentence shall survive the
payment in full of the Obligations and the termination of this Agreement. 
 10.06 Successors and Assigns. 

(a) Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and
each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of subsection (b) of this Section, (ii) by way of participation in
accordance with the provisions of subsection (d) of this Section, or (iii) by way of pledge or assignment of a security interest subject to the restrictions of subsection (f) of this Section (and any other attempted assignment or
transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby,
Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the L/C Issuer and the Lenders) any legal or equitable right,
remedy or claim under or by reason of this Agreement. 
 (b) Assignments by Lenders. Any Lender may at any time assign to
one or more assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans (including for purposes of this subsection (b), participations in L/C Obligations and in Swing Line
Loans) at the time owing to it); provided that any such assignment shall be subject to the following conditions: 

(i) Minimum Amounts. 

(A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans
at the time owing to it or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and 

(B) in any case not described in subsection (b)(i)(A) of this Section, the aggregate amount of the Commitment (which for
this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each such assignment, determined as of the date the Assignment and
Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $5,000,000 unless each of the
Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed); provided, however, that concurrent assignments to members of an

  

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Assignee Group and concurrent assignments from members of an Assignee Group to a single Eligible Assignee (or to an Eligible Assignee and members of its Assignee Group) will be treated as a
single assignment for purposes of determining whether such minimum amount has been met. 
 (ii) Proportionate
Amounts. Each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loans or the Commitment assigned, except that this clause
(ii) shall not apply to the Swing Line Lender’s rights and obligations in respect of Swing Line Loans; 

(iii) Required Consents. No consent shall be required for any assignment except to the extent required by
subsection (b)(i)(B) of this Section and, in addition: 
 (A) the consent of the Borrower (such consent
not to be unreasonably withheld) shall be required unless (1) an Event of Default has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund;
provided that the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within five (5) Business Days after having received notice thereof;

 (B) the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall
be required if such assignment is to a Person that is not a Lender, an Affiliate of such Lender or an Approved Fund with respect to such Lender; 

(C) the consent of the L/C Issuer (such consent not to be unreasonably withheld or delayed) shall be required for any
assignment that increases the obligation of the assignee to participate in exposure under one or more Letters of Credit (whether or not then outstanding); and 

(D) the consent of the Swing Line Lender (such consent not to be unreasonably withheld or delayed) shall be required for
any assignment in respect of the Commitments. 
 (iv) Assignment and Assumption. The parties to each
assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500; provided, however, that the Administrative Agent may, in its sole
discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire. 

(v) No Assignment to Certain Persons. No such assignment shall be made (A) to the Borrower or any of the
Borrower’s Affiliates or Subsidiaries, or 
  

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(B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (B), or
(C) to a natural person. 
 (vi) Certain Additional Payments. In connection with any assignment of
rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the
Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with
the consent of the Borrower and the Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to
(x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share of
all Loans and participations in Letters of Credit and Swing Line Loans in accordance with its Applicable Percentage. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall
become effective under applicable Law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs. 

Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c) of this Section, from and after the effective
date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this
Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of
the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 3.01, 3.04, 3.05, and 10.04 with respect
to facts and circumstances occurring prior to the effective date of such assignment. Upon request, the Borrower (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations
under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with subsection (d) of this Section.

 (c) Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrower (and such agency
being solely for tax purposes), shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of,
and principal amounts of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive,

  

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absent manifest error, and the Borrower, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder
for all purposes of this Agreement, notwithstanding notice to the contrary. In addition, the Administrative Agent shall maintain on the Register information regarding the designation, and revocation of designation, of any Lender as a Defaulting
Lender. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice. In addition, the Administrative Agent shall maintain on the Register information
regarding the designation, and revocation of designation, of any Lender as a Defaulting Lender. The Register shall be available for inspection by the Borrower, the L/C Issuer and the Swing Line Lender, at any reasonable time and from time to time
upon reasonable prior notice. In addition, at any time that a request for a consent to a material or substantive change to the Loan Documents is pending, any Lender may request and receive from the Administrative Agent a copy of the Register. Upon
its receipt of and, if required, consent to, a duly completed Assignment and Assumption executed by an assigning Lender and an Eligible Assignee, such Eligible Assignee’s completed Administrative Questionnaire and any tax forms required by
Section 3.01 (unless such assignee is already a Lender), together with the fee payable under Section 10.06(b)(iv), the Administrative Agent will, on the effective date thereof, record the Assignment and Assumption on the
Register. 
 (d) Participations. Any Lender may at any time, without the consent of, or notice to, the Borrower or the
Administrative Agent, sell participations to any Person (other than a natural person, a Defaulting Lender or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such
Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans (including such Lender’s participations in L/C Obligations and/or Swing Line Loans) owing to it); provided that
(i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the
Administrative Agent, the Lenders and the L/C Issuer shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. 

Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole
right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant,
agree to any amendment, waiver or other modification described in the first proviso to Section 10.01 that affects such Participant. Subject to subsection (e) of this Section, the Borrower agrees that each Participant shall be
entitled to the benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section. To the extent permitted by law, each
Participant also shall be entitled to the benefits of Section 10.08 as though it were a Lender, provided such Participant agrees to be subject to Section 2.14 as though it were a Lender. 

(e) Limitations upon Participant Rights. A Participant shall not be entitled to receive any greater payment under
Section 3.01 or 3.04 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the
Borrower’s prior written consent. A 
  

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Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 3.01 unless the Borrower is notified of the participation sold to such
Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 3.01(e) as though it were a Lender. 

(f) Certain Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under
this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any
of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 
 (g) Resignation
as L/C Issuer or Swing Line Lender after Assignment. Notwithstanding anything to the contrary contained herein, if at any time Bank of America assigns all of its Commitment and Loans pursuant to subsection (b) above, Bank of America may,
(i) upon 30 days’ notice to the Borrower and the Lenders, resign as L/C Issuer and/or (ii) upon 30 days’ notice to the Borrower, resign as Swing Line Lender. In the event of any such resignation as L/C Issuer or Swing Line
Lender, the Borrower shall be entitled to appoint from among the Lenders a successor L/C Issuer or Swing Line Lender hereunder; provided, however, that no failure by the Borrower to appoint any such successor shall affect the
resignation of Bank of America as L/C Issuer or Swing Line Lender, as the case may be. If Bank of America resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of
Credit outstanding as of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders to make Base Rate Committed Loans or fund risk participations in Unreimbursed
Amounts pursuant to Section 2.04(c)). If Bank of America resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the
effective date of such resignation, including the right to require the Lenders to make Base Rate Committed Loans or fund risk participations in outstanding Swing Line Loans pursuant to Section 2.05(c). Upon the appointment of a successor
L/C Issuer and/or Swing Line Lender, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as the case may be, and (b) the successor L/C
Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to Bank of America to effectively assume the obligations of Bank of America
with respect to such Letters of Credit. 
 10.07 Treatment of Certain Information; Confidentiality. Each of the
Administrative Agent, the Lenders and the L/C Issuer agrees to maintain, and will cause any third party representative or agent to agree to maintain, the confidentiality of the Information (as defined below), except that Information may be disclosed
(a) to its Affiliates and to its and its Affiliates’ respective partners, directors, officers, employees, agents, trustees, advisors and representatives (it being understood that the Persons to whom such disclosure is made will be informed
of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent requested by any Governmental Authority purporting to have jurisdiction over it (including any self-regulatory authority,
such as the National Association of Insurance Commissioners), (c) to the extent required by applicable laws or regulations or by any 
  

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subpoena or similar legal process, (d) to any other party hereto, (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or
proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee
of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement or any Eligible Assignee invited to be a Lender pursuant to Section 2.16(c) or (ii) any actual or prospective
counterparty (or its advisors) to any swap or derivative transaction relating to the Borrower and its obligations, (g) with the consent of the Borrower or (h) to the extent such Information (x) becomes publicly available other than as
a result of a breach of this Section or (y) becomes available to the Administrative Agent, any Lender, the L/C Issuer or any of their respective Affiliates on a nonconfidential basis from a source other than the Borrower. For purposes of this
Section, “Information” means all information received from the Borrower or any Subsidiary relating to the Borrower or any Subsidiary or any of their respective businesses (including such information as is obtained by the Administrative
Agent or the Lenders pursuant to their inspection rights under Section 6.10), other than any such information that is available to the Administrative Agent, any Lender or the L/C Issuer on a nonconfidential basis prior to disclosure by
the Borrower or any Subsidiary, provided that, in the case of information received from the Borrower or any Subsidiary after the date hereof, such information is clearly identified at the time of delivery as confidential. Any Person required to
maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as
such Person would accord to its own confidential information. 
 Each of the Administrative Agent, the Lenders and the L/C
Issuer acknowledges that (a) the Information may include material non-public information concerning the Borrower or a Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use of material non-public
information and (c) it will handle such material non-public information in accordance with applicable Law, including United States Federal and state securities Laws. 

10.08 Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender, the L/C Issuer and each of their
respective Affiliates is hereby authorized at any time and from time to time to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever
currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender, the L/C Issuer or any such Affiliate to or for the credit or the account of the Borrower against any and all of the obligations of the Borrower
now or hereafter existing under this Agreement or any other Loan Document to such Lender or the L/C Issuer, irrespective of whether or not such Lender or the L/C Issuer shall have made any demand under this Agreement or any other Loan Document and
although such obligations of the Borrower may be contingent or unmatured or are owed to a branch or office of such Lender or the L/C Issuer different from the branch or office holding such deposit or obligated on such indebtedness; provided, that in
the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of
Section 2.18 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders, and (y) the Defaulting Lender shall
provide promptly to 
  

 96 

 
the Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender, the
L/C Issuer and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender, the L/C Issuer or their respective Affiliates may have. Each Lender and the L/C Issuer
agrees to notify the Borrower and the Administrative Agent promptly after any such setoff and application, provided that the failure to give such notice shall not affect the validity of such setoff and application. 

10.09 Interest Rate Limitation. Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or
agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If the Administrative Agent or any Lender shall receive interest in an amount
that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by the
Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude
voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder. 

10.10 Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto in
different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and the other Loan Documents constitute the entire contract among the parties relating to
the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall
have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a
signature page of this Agreement by telecopy or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Agreement. 

10.11 Survival of Representations and Warranties. All representations and warranties made hereunder and in any other Loan Document
or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by the Administrative
Agent and each Lender, regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default at the time of
any Credit Extension, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding. 

10.12 Severability. If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or
unenforceable, (a) the legality, validity and enforceability of the 
  

 97 

 
remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the
illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall
not invalidate or render unenforceable such provision in any other jurisdiction. Without limiting the foregoing provisions of this Section 10.12, if and to the extent that the enforceability of any provisions in this Agreement relating
to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent, the L/C Issuer or the Swing Line Lender, as applicable, then such provisions shall be deemed to be in effect only to the extent
not so limited. 
 10.13 Replacement of Lenders. If any Lender requests compensation under Section 3.04, or
if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, or if any Lender is a Defaulting Lender or if any other circumstance exists
hereunder that gives the Borrower the right to replace a Lender as a party hereto, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without
recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 10.06), all of its interests, rights and obligations under this Agreement and the related Loan Documents to an Eligible Assignee
that shall assume such obligations (which Eligible Assignee may be another Lender, if a Lender accepts such assignment), provided that: 

(a) the Borrower shall have paid to the Administrative Agent the assignment fee specified in Section 10.06(b); 

(b) such Lender shall have received payment of an amount equal to 100% of the outstanding principal of its Loans and L/C Advances,
accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 3.05) from the Eligible Assignee (to the extent of such outstanding principal
and accrued interest and fees) or the Borrower (in the case of all other amounts); 
 (c) in the case of any such assignment
resulting from a claim for compensation under Section 3.04 or payments required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter; and 

(d) such assignment does not conflict with applicable Laws. 

A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or
otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. 
 10.14
Governing Law; Jurisdiction; Etc. 
 (a) GOVERNING LAW. THIS AGREEMENT AND, EXCEPT AND OTHERWISE SPECIFICALLY
PROVIDED THEREIN, EACH OF THE LOAN DOCUMENTS, ARE CONTRACTS UNDER THE LAWS OF THE STATE OF NEW YORK AND SHALL FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH, 

 

 98 

 
AND GOVERNED BY, THE LAWS OF THE STATE OF NEW YORK (EXCLUDING LAWS APPLICABLE TO CONFLICTS OR CHOICE OF LAW OTHER THAN GENERAL OBLIGATIONS LAW §§ 5-1401 AND 5-1402). 

(b) SUBMISSION TO JURISDICTION. THE BORROWER IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE
NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN MANHATTAN COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING
OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY
BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY
BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, ANY LENDER OR THE L/C ISSUER MAY
OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWER OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 

(c) WAIVER OF VENUE. THE BORROWER IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION. EACH OF THE
PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT. 

(d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION
10.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 

10.15 Waiver of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR 

 

 99 

 
THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR
OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 10.16 No Advisory or Fiduciary
Responsibility. In connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower acknowledges and agrees that:
(i) (A) the arranging and other services regarding this Agreement provided by the Administrative Agent and the Arranger, are arm’s-length commercial transactions between the Borrower and its Affiliates, on the one hand, and the
Administrative Agent and the Arranger, on the other hand, (B) the Borrower has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) the Borrower is capable of evaluating, and
understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii) (A) the Administrative Agent and the Arranger each is and has been acting solely as a principal and,
except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for the Borrower or any of its Affiliates, or any other Person and (B) neither the Administrative
Agent nor the Arranger has any obligation to the Borrower or any of its Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii) the
Administrative Agent and the Arranger and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Borrower and its Affiliates, and neither the Administrative Agent nor the
Arranger has any obligation to disclose any of such interests to the Borrower or any of its Affiliates. To the fullest extent permitted by law, the Borrower hereby waives and releases any claims that it may have against the Administrative Agent and
the Arranger with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. 

10.17 Electronic Execution of Assignments and Certain Other Documents. The words “execution,” “signed,”
“signature,” and words of like import in any Assignment and Assumption or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures or the keeping of records in
electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable
law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 

10.18 USA PATRIOT Act. Each Lender that is subject to the Act (as hereinafter defined) and the Administrative Agent (for itself
and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III of 

 

 100 

 
Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that identifies each Borrower, which information includes
the name and address of the Borrower and other information that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower in accordance with the Act. The Borrower shall, promptly following a request by the
Administrative Agent or any Lender, provide all documentation and other information that the Administrative Agent or such Lender requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money
laundering rules and regulations, including the Act. 
 10.19 ENTIRE AGREEMENT. THIS AGREEMENT AND THE OTHER LOAN
DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 

 

 101 

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

			
	BORROWER:
	
	Harte-Hanks, Inc., a Delaware corporation
		
	By:	 	 /s/ Douglas C. Shepard

		
	Name:	 	 Douglas C. Shepard

		
	Title:	 	 Executive Vice President and

Chief Financial Officer

Signature Page to Harte-Hanks Credit Agreement 

			
	 BANK OF AMERICA, N.A., as

Administrative Agent

		
	By:	 	 /s/ Maria F. Maia

		
	Name:	 	 Maria F. Maia

		
	Title:	 	 Managing Director

Signature Page to Harte-Hanks Credit Agreement 

			
	BANK OF AMERICA, N.A., as a Lender, L/C Issuer and Swing Line Lender
		
	By:	 	 /s/ Maria F. Maia

		
	Name:	 	 Maria F. Maia

		
	Title:	 	 Managing Director

Signature Page to Harte-Hanks Credit Agreement 

			
	JPMorgan Chase Bank, N.A., as a Lender
		
	By:	 	 /s/ Robert L. Mendoza

		
	Name:	 	 Robert L. Mendoza

		
	Title:	 	 Vice President

Signature Page to Harte-Hanks Credit Agreement 

			
	 Wells Fargo Bank N.A.,

as a Lender

		
	By:	 	 /s/ Reginald M. Goldsmith, III

		
	Name:	 	 Reginald M. Goldsmith, III

		
	Title:	 	 Director

Signature Page to Harte-Hanks Credit Agreement 

			
	 Comerica Bank,

as a Lender

		
	By:	 	 /s/ Joey Powell

		
	Name:	 	 Joey Powell

		
	Title:	 	 Vice President

Signature Page to Harte-Hanks Credit Agreement 

 EXHIBIT A 

FORM OF COMMITTED LOAN NOTICE 

Date:                     ,
         
  

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

Ladies and Gentlemen: 

Reference is made to that certain Credit Agreement, dated as of
[                    ,         ] (as amended, restated, extended, supplemented or otherwise
modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among HARTE-HANKS, INC., a Delaware corporation (the “Borrower”), the Lenders from time to
time party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender. 
 The undersigned
hereby requests (select one): 
  ̈ A Borrowing of Committed
Loans             ̈ A conversion or continuation of Loans 
  

	 	1.	On
                                         
                    (a Business Day). 

  

	 	2.	In the amount of
$                                        .

  

	 	3.	Comprised of
                                         
                     . 

[Type of Committed Loan requested] 
  

	 	4.	For Eurodollar Rate Loans: with an Interest Period of                  months.

 The Committed Borrowing, if any, requested herein complies with the provisos to the first sentence of
Section 2.01 of the Agreement. 
  

			
	Harte-Hanks, Inc.
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

 

 A-1 

Form of Committed Loan Notice 

 EXHIBIT B 

FORM OF SWING LINE LOAN NOTICE 

Date:                     ,
         
 To: Bank of America, N.A., as Swing Line Lender 

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

Ladies and Gentlemen: 

Reference is made to that certain Credit Agreement, dated as of August __, 2010 (as amended, restated, extended, supplemented or
otherwise modified in writing from time to time, the “Agreement”), the terms defined therein being used herein as therein defined), among HARTE-HANKS, INC., a Delaware corporation (the “Borrower”), the Lenders from
time to time party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender. 
 The
undersigned hereby requests a Swing Line Loan: 
 1. On
                     (a Business Day). 

2. In the amount of
$                    . 

The Swing Line Borrowing requested herein complies with the requirements of the provisos to the first sentence of
Section 2.05(a) of the Agreement. 
 Harte-Hanks, Inc. 

By: 
 Name:

 Title: 
  

 B-1 

Form of Swing Line Loan Notice 

 EXHIBIT C-1 

Form of Revolving Credit Note 
  

			
	$                    	  	                    ,
20    

 FOR VALUE RECEIVED, the undersigned (the “Borrower”) hereby
promises to pay to                      or registered assigns (the “Lender”), in accordance with the provisions of the
Agreement (as hereinafter defined), the principal amount of each Committed Loan from time to time made by the Lender to the Borrower under that certain Credit Agreement, dated as of August     , 2010 (as amended, restated,
extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among the Borrower, the Lenders from time to time party thereto, and Bank
of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender. 
 The Borrower promises to pay interest on the
unpaid principal amount of each Committed Loan from the date of such Committed Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. Except as otherwise provided in
Section 2.05(f) of the Agreement with respect to Swing Line Loans, all payments of principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the
Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after
judgment) computed at the per annum rate set forth in the Agreement. 
 This Revolving Credit Note is one of the Notes referred
to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the
Agreement, all amounts then remaining unpaid on this Revolving Credit Note shall become, or may be declared to be, immediately due and payable all as provided in the Agreement. Committed Loans made by the Lender shall be evidenced by one or more
loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to this Revolving Credit Note and endorse thereon the date, amount and maturity of its Committed Loans and payments with
respect thereto. 
 The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and
demand and notice of protest, demand, dishonor and non-payment of this Revolving Credit Note. 
 THIS REVOLVING CREDIT NOTE
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 [Remainder of page intentionally
left blank.] 
  

 C-1-1 

Form of Revolving Credit Note 

 IN WITNESS WHEREOF, the Borrower has caused this Revolving Credit Note to be duly
executed as of the date first above written. 
  

			
	BORROWER:
	
	HARTE-HANKS, INC.
		
	By:	 	  

		 	 Name:

		 	 Title:

  

 C-1-2 

Form of Revolving Credit Note 

 Loans and Payments with respect thereto 

 

													
	     Date    
	 	Type of
Loan Made	 	Amount of
Loan Made	 	End of
Interest
    Period    	 	Amount of
Principal or
Interest
Paid This
Date	 	Outstanding
Principal
Balance
This Date	 	Notation
Made By
							
		 		 		 		 		 		 	
	  	 	 	 	 	 	 	 	 	 	 	 	 
		 		 		 		 		 		 	
	  	 	 	 	 	 	 	 	 	 	 	 	 
		 		 		 		 		 		 	
	  	 	 	 	 	 	 	 	 	 	 	 	 
		 		 		 		 		 		 	
	  	 	 	 	 	 	 	 	 	 	 	 	 
		 		 		 		 		 		 	
	  	 	 	 	 	 	 	 	 	 	 	 	 
		 		 		 		 		 		 	
	  	 	 	 	 	 	 	 	 	 	 	 	 
		 		 		 		 		 		 	
	  	 	 	 	 	 	 	 	 	 	 	 	 
		 		 		 		 		 		 	
	  	 	 	 	 	 	 	 	 	 	 	 	 
		 		 		 		 		 		 	
	  	 	 	 	 	 	 	 	 	 	 	 	 
		 		 		 		 		 		 	
	  	 	 	 	 	 	 	 	 	 	 	 	 
		 		 		 		 		 		 	
	  	 	 	 	 	 	 	 	 	 	 	 	 
		 		 		 		 		 		 	
	  	 	 	 	 	 	 	 	 	 	 	 	 
		 		 		 		 		 		 	
	  	 	 	 	 	 	 	 	 	 	 	 	 
		 		 		 		 		 		 	
	  	 	 	 	 	 	 	 	 	 	 	 	 
		 		 		 		 		 		 	
	  	 	 	 	 	 	 	 	 	 	 	 	 
		 		 		 		 		 		 	
	  	 	 	 	 	 	 	 	 	 	 	 	 
		 		 		 		 		 		 	
	  	 	 	 	 	 	 	 	 	 	 	 	 
		 		 		 		 		 		 	
	  	 	 	 	 	 	 	 	 	 	 	 	 

  

 C-1-3 

Form of Revolving Credit Note 

 EXHIBIT C-2 

Form of Swing Line Note 
  

			
	$                    	  	                    , 20    

 FOR VALUE RECEIVED, the undersigned (the “Borrower”) hereby promises to pay to Bank of
America, N.A. or registered assigns (the “Swing Line Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of each Swing Line Loan from time to time made by the Swing Line Lender
to the Borrower under that certain Credit Agreement, dated as of August __, 2010 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used
herein as therein defined), among the Borrower, the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender. 

The Borrower promises to pay interest on the unpaid principal amount of each Swing Line Loan from the date of such Swing Line Loan until
such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of principal and interest shall be made to the Swing Line Lender in Dollars in immediately available funds at the Lending
Office. If any amount is not paid in full when due hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum
rate set forth in the Agreement. 
 This Swing Line Note is one of the Notes referred to in the Agreement, is entitled to the
benefits thereof and may be prepaid in whole or in part subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid
on this Swing Line Note shall become, or may be declared to be, immediately due and payable all as provided in the Agreement. Swing Line Loans made by the Swing Line Lender shall be evidenced by one or more loan accounts or records maintained by the
Swing Line Lender in the ordinary course of business. The Swing Line Lender may also attach schedules to this Swing Line Note and endorse thereon the date, amount and maturity of its Swing Line Loans and payments with respect thereto. 

The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest,
demand, dishonor and non-payment of this Swing Line Note. 
 THIS SWING LINE NOTE SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 [Remainder of page intentionally left blank.] 

 

 C-2-1 

Form of Swing Line Note 

 IN WITNESS WHEREOF, the Borrower has caused this Swing Line Note to be duly executed
as of the date first above written. 
  

			
	BORROWER:
	
	HARTE-HANKS, INC.
		
	By:	 	  

		 	 Name:

		 	 Title:

  

 C-2-2 

Form of Swing Line Note 

 Loans and Payments with respect thereto 

 

									
	     Date    
	 	Amount of
Loan Made	 	Amount of
Principal or
Interest Paid
This Date	 	Outstanding
Principal
Balance This
Date	 	Notation
Made By
					
		 		 		 		 	
	  	 	 	 	 	 	 	 	 
		 		 		 		 	
	  	 	 	 	 	 	 	 	 
		 		 		 		 	
	  	 	 	 	 	 	 	 	 
		 		 		 		 	
	  	 	 	 	 	 	 	 	 
		 		 		 		 	
	  	 	 	 	 	 	 	 	 
		 		 		 		 	
	  	 	 	 	 	 	 	 	 
		 		 		 		 	
	  	 	 	 	 	 	 	 	 
		 		 		 		 	
	  	 	 	 	 	 	 	 	 
		 		 		 		 	
	  	 	 	 	 	 	 	 	 
		 		 		 		 	
	  	 	 	 	 	 	 	 	 
		 		 		 		 	
	  	 	 	 	 	 	 	 	 
		 		 		 		 	
	  	 	 	 	 	 	 	 	 
		 		 		 		 	
	  	 	 	 	 	 	 	 	 
		 		 		 		 	
	  	 	 	 	 	 	 	 	 
		 		 		 		 	
	  	 	 	 	 	 	 	 	 
		 		 		 		 	
	  	 	 	 	 	 	 	 	 
		 		 		 		 	
	  	 	 	 	 	 	 	 	 
		 		 		 		 	
	  	 	 	 	 	 	 	 	 

  

 C-2-3 

Form of Note 

 EXHIBIT D 

FORM OF COMPLIANCE CERTIFICATE 

Financial Statement Date:             , 

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

Ladies and Gentlemen: 

Reference is made to that certain Credit Agreement, dated as of
[                    ,         ] (as amended, restated, extended, supplemented or otherwise
modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among HARTE-HANKS, INC., a Delaware corporation (the “Borrower”), the Lenders from time to
time party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender. 
 The undersigned
Responsible Officer hereby certifies as of the date hereof that he/she is the              of the Borrower, and that, as such, he/she is authorized to execute and deliver this
Certificate to the Administrative Agent on the behalf of the Borrower, and that: 
 [Use following paragraph 1 for fiscal
year-end financial statements] 
 1. The Borrower has delivered the year-end audited financial statements required by
Section 6.01(a) of the Agreement for the fiscal year of the Borrower ended as of the above date, together with the report and opinion of an independent certified public accountant required by such section. 

[Use following paragraph 1 for fiscal quarter-end financial statements] 

1. The Borrower has delivered the unaudited financial statements required by Section 6.01(b) of the Agreement for the fiscal
quarter of the Borrower ended as of the above date. Such financial statements fairly present the financial condition, results of operations and cash flows of the Borrower and its Subsidiaries in accordance with GAAP as at such date and for such
period, subject only to normal year-end audit adjustments and the absence of footnotes. 
 2. The undersigned has reviewed and
is familiar with the terms of the Agreement and has made, or has caused to be made under his/her supervision, a detailed review of the transactions and condition (financial or otherwise) of the Borrower during the accounting period covered by such
financial statements. 
 3. A review of the activities of the Borrower during such fiscal period has been made under the
supervision of the undersigned with a view to determining whether during such fiscal period the Borrower performed and observed all its Obligations under the Loan Documents, and 

 

 D-1 

Form of Compliance Certificate 

 [select one:] 

[to the best knowledge of the undersigned, during such fiscal period the Borrower performed and observed each covenant and condition
of the Loan Documents applicable to it, and no Default has occurred and is continuing.] 
 —or—

 [to the best knowledge of the undersigned, during such fiscal period the following covenants or conditions have
not been performed or observed and the following is a list of each such Default and its nature and status:] 
 4. The
representations and warranties of the Borrower contained in Article V of the Agreement, and any representations and warranties of the Borrower that are contained in any document furnished at any time under or in connection with the Loan Documents,
are true and correct in all material respects (except to the extent already qualified by materiality which such representations and warranties shall be true and correct in all respects) on and as of the date hereof, except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that for purposes of this Compliance Certificate, the representations and warranties contained in
subsections (a) and (b) of Section 5.05 of the Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Agreement, including the
statements in connection with which this Compliance Certificate is delivered. 
 5. The financial covenant analyses and
information set forth on Schedule 1 attached hereto are true and accurate on and as of the date of this Certificate. 

IN WITNESS WHEREOF, the undersigned has executed this Certificate as of
                    ,         . 

 

			
	Harte-Hanks, Inc.
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

 

 D-2 

Form of Compliance Certificate 

 For the Quarter/Year ended
                     (“Statement Date”) 

SCHEDULE 1 

to the Compliance Certificate

($ in 000’s) 
  

	I.	Section 7.11(a) – Consolidated Interest Coverage Ratio. 

  

			
	 A.     Consolidated EBITDA for four consecutive fiscal quarters ending on above date (“Subject
Period”):
	 	
		
	 1.       Consolidated Net Income for Subject Period:
	 	$                        

		
	 2.       Consolidated Interest Charges for Subject Period (Line I.B.5 below):
	 	$                        

		
	 3.       Income taxes for Subject Period:
	 	$                        

		
	 4.       Depreciation and depletion expenses for Subject Period:
	 	$                        

		
	 5.       Amortization expenses for Subject Period:
	 	$                        

		
	 6.       Lines I.A.1 + 2 + 3 + 4 + 5:
	 	$                        

		
	 B.     Consolidated Interest Charges for Subject Period:
	 	
		
	 1.       Interest paid or accrued on Indebtedness pursuant to Section 6.04 of the Agreement:

	 	$                        

		
	 2.       Non-cash amortization of debt issuance costs:
	 	$                        

		
	 3.       Write-off of deferred financing fees and charges in connection with the repayment of
the Existing Credit Agreement and in connection with the Agreement, in each case, that are classified as interest under GAAP:
	 	$                        

		
	 4.       Any prepayment penalties or premiums:
	 	$                        

		
	 5.       Line I.B.1 – Line 1.B.2 – Line I.B.3 – Line I.B.4:
	 	$                        

		
	 C.     Consolidated Interest Coverage Ratio (Line I.A.6 ( Line I.B.5):
	 	             to 1.00
		
	 Minimum required: 2.75:1.00
	 	
		
	  

II.     Section 7.11(b) – Consolidated Leverage Ratio.
	 	
		
	 A.     Consolidated Funded Indebtedness at Statement Date:
	 	
		
	 1.       The outstanding principal amount of all obligations, whether current or long-term,
for borrowed money (including the Obligations under the Agreement) and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments:
	 	$                        

  

 D-3 

Form of Compliance Certificate 

			
		
	 2.       All purchase money Indebtedness:
	 	$                        

		
	 3.       All direct obligations arising under letters of credit (including standby and
commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments (but excluding the aggregate amount available to be drawn with respect to Letters of Credit outstanding):
	 	$                        

		
	 4.       All obligations in respect of the deferred purchase price of property or services
(other than trade accounts payable in the ordinary course of business):
	 	$                        

		
	 5.       Attributable Indebtedness in respect of Capitalized Leases:
	 	$                        

		
	 6.       Without duplication, all Guarantees with respect to outstanding Indebtedness of the
types specified in Lines II.A.1-II.A.5 above of Persons other than the Borrower or any of its Subsidiaries:
	 	$                        

		
	 7.       All Indebtedness of the types referred to in Lines II.A.1-II.A.6 above of any
partnership or joint venture other than debt made non-recourse to the Borrower or such Subsidiary:
	 	$                        

		
	 8.       Lines II.A.1 + 2 + 3 + 4 + 5 + 6 + 7:
	 	$                        

		
	 B.     Consolidated EBITDA for Subject Period:
	 	
		
	 1.       Line I.A.6 above:
	 	$                        

		
	 2.       Permitted add-backs to EBITDA for all Material Acquisitions consummated during the
Subject Period, as permitted pursuant to Section 7.04(b):
	 	$                        

		
	 3.       Adjusted Consolidated EBITDA (Line II.B.1 + Line II.B.2):
	 	$                        

		
	 C.     Consolidated Leverage Ratio (Line II.A.8 ( Line II.B.3):
	 	             to 1.00
		
	 Maximum permitted: 3.00:1.00
	 	
		
	  
 III. Adjusted Leverage Ratio.
	 	

							
			
	 A.
	 	 1.      Consolidated Funded Indebtedness at Statement Date (Line II.A.8
above):
	 	$                        

  

 D-4 

Form of Compliance Certificate 

			
	 2.      Non-restricted cash held by Borrower at Statement Date:
	 	$                        

		
	 3.      Line III.A.1 – Line III.A.2:
	 	$                        

		
	 B.     Adjusted Consolidated EBITDA for Subject Period (Line II.B.3 above):
	 	$                        

		
	 C.     Adjusted Leverage Ratio (Line III.A.3 ( Line III.B):
	 	             to 1.00

 

 D-5 

Form of Compliance Certificate 

 EXHIBIT E-1 

ASSIGNMENT AND ASSUMPTION 

This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the Effective Date set forth below and
is entered into by and between [the][each] Assignor identified in item 1 below ([the][each, an] “Assignor”) and [the][each] Assignee identified in item 2 below ([the][each, an] “Assignee”). [It is understood and
agreed that the rights and obligations of [the Assignors][the Assignees] hereunder are several and not joint.] Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (the
“Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part
of this Assignment and Assumption as if set forth herein in full. 
 For an agreed consideration, [the][each] Assignor hereby
irrevocably sells and assigns to [the Assignee][the respective Assignees], and [the][each] Assignee hereby irrevocably purchases and assumes from [the Assignor][the respective Assignors], subject to and in accordance with the Standard Terms and
Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i) all of [the Assignor’s][the respective Assignors’] rights and obligations in [its capacity as a Lender][their
respective capacities as Lenders] under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and
obligations of [the Assignor][the respective Assignors] under the respective facilities identified below (including, without limitation, the Letters of Credit and the Swing Line Loans included in such facilities) and (ii) to the extent
permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of [the Assignor (in its capacity as a Lender)][the respective Assignors (in their respective capacities as Lenders)] against any Person, whether
known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including,
but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations
sold and assigned by [the][any] Assignor to [the][any] Assignee pursuant to clauses (i) and (ii) above being referred to herein collectively as [the][an] “Assigned Interest”). Each such sale and assignment is without
recourse to [the][any] Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by [the][any] Assignor. 
  

							
	 1.      Assignor[s]:
	 		 	  
	  	
				
		 		 	  
	  	
				
	 2.      Assignee[s]:
	 		 	  
	  	

  

 E-1-1 

Form of Assignment and Assumption 

							
		 		 	  
	  	
	 [for each Assignee, indicate [Affiliate][Approved Fund] of [identify Lender]]

 

	3.	Borrower:   Harte-Hanks, Inc., a Delaware corporation 

  

	4.	Administrative Agent: Bank of America, N.A., as the administrative agent under the Credit Agreement 

 

	5.	Credit Agreement: [Credit Agreement, dated as of August     , 2010, among Harte-Hanks, Inc., the Lenders from time to time party
thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer, and Swing Line Lender 

  

	6.	Assigned Interest[s]: 

  

														
	 Assignor[s]
	  	 Assignee[s]
	  	Aggregate
Amount
of
Commitments
for all 
Lenders1	  	Amount
of
Commitment
Assigned	  	Percentage
Assigned
of
Commitment2	 	 	CUSIP
Number
		  		  	$	                	  	$	                	  	                	% 	 	
		  		  	$	                	  	$	                	  	                	% 	 	
		  		  	$	                	  	$	                	  	                	% 	 	

  

	[7.	 Trade
Date:                      
]3 

Effective Date:                     ,
20     [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 

The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	ASSIGNOR
	[NAME OF ASSIGNOR]
		
	By:	 	  

		 	Title:
	
	ASSIGNEE
	[NAME OF ASSIGNEE]
		
	By:	 	  

		 	Title:

  

	1
	 Amounts in this column and in the column immediately to the right to be adjusted by the counterparties to take into account any payments or prepayments
made between the Trade Date and the Effective Date. 

	2
	 Set forth, to at least 9 decimals, as a percentage of the Aggregate Commitment of all Lenders thereunder. 

	3
	 To be completed if the Assignor and the Assignee intend that the minimum assignment amount is to be determined as of the Trade Date.

  

 E-1-2 

Form of Assignment and Assumption 

			
	[Consented to
and]4 Accepted:
	
	BANK OF AMERICA, N.A., as
	  Administrative Agent
		
	By:	 	  

		 	Title:
	
	[Consented
to:]5
		
	By:	 	  

		 	Title:

  

	4
	 To be added only if the consent of the Administrative Agent is required by the terms of the Credit Agreement. 

	5
	 To be added only if the consent of the Borrower and/or other parties (e.g. Swing Line Lender, L/C Issuer) is required by the terms of the Credit
Agreement. 

  

 E-1-3 

Form of Assignment and Assumption 

 ANNEX 1 TO ASSIGNMENT AND ASSUMPTION 

Credit Agreement dated as of             
    , 2010 among Harte-Hanks, Inc., the 
 Lenders from time to time party thereto, and Bank of
America, N.A., as 
 Administrative Agent, L/C Issuer, and Swing Line Lender 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 

1. Representations and Warranties. 

1.1. Assignor. [The][Each] Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of
[the][[the relevant] Assigned Interest, (ii) [the][such] Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and
deliver this Assignment and Assumption and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit
Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Borrower, any of its
Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations
under any Loan Document. 
 1.2. Assignee. [The][Each] Assignee (a) represents and warrants that (i) it has
full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all the
requirements to be an assignee under Section 10.06(b)(iii) and (v) of the Credit Agreement (subject to such consents, if any, as may be required under Section 10.06(b)(iii) of the Credit Agreement),
(iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of [the][the relevant] Assigned Interest, shall have the obligations of a Lender thereunder,
(iv) it is sophisticated with respect to decisions to acquire assets of the type represented by [the][such] Assigned Interest and either it, or the Person exercising discretion in making its decision to acquire [the][such] Assigned Interest, is
experienced in acquiring assets of such type, (v) it has received a copy of the Credit Agreement, and has received or has been accorded the opportunity to receive copies of the most recent financial statements delivered pursuant to Section
     thereof, as applicable, and such other documents and information as it deems appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase [the][such] Assigned
Interest, (vi) it has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this
Assignment and Assumption and to purchase [the][such] Assigned Interest, and (vii) if it is a Foreign Lender, attached hereto is any documentation required to be delivered by it pursuant to

  

 E-1-4 

Form of Assignment and Assumption 

 
the terms of the Credit Agreement, duly completed and executed by [the][such] Assignee; and (b) agrees that (i) it will, independently and without reliance upon the Administrative
Agent, [the][any] Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it
will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 

2. Payments. From and after the Effective Date, the Administrative Agent shall make all payments in respect of [the][each]
Assigned Interest (including payments of principal, interest, fees and other amounts) to [the][the relevant] Assignor for amounts which have accrued to but excluding the Effective Date and to [the][the relevant] Assignee for amounts which have
accrued from and after the Effective Date. 
 3. General Provisions. This Assignment and Assumption shall be binding
upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed
counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in
accordance with, the law of the State of New York. 
  

 E-1-5 

Form of Assignment and Assumption 

 EXHIBIT E-2 

FORM OF ADMINISTRATIVE QUESTIONNAIRE 
  

			
	1. FAX ALONG WITH COMMITMENT LETTER TO:	 	     Maria Maia

	FAX #	 	 980-233-7700

 

					
	I. Borrower Name:	 		 	 Harte-Hanks, Inc.

											
						
		 	$	 	 70,000,000.00
	 		 	Type of Credit Facility	 	 Revolver

II. Legal Name of Lender of Record for Signature Page: 
  

 
  

	 	•	 	 Signing Credit
Agreement                     
YES                     NO 

	 	•	 	 Coming in via
Assignment                     
YES                     NO 

  

			
	III. Type of Lender:	 	  

(Bank, Asset Manager, Broker/Dealer, CLO/CDO, Finance Company, Hedge Fund, Insurance, Mutual Fund, Pension Fund, Other Regulated Investment Fund,
Special Purpose Vehicle, Other – please specify) 
  

			
	IV. Domestic Address:	  	V. Eurodollar Address:

  

 
  

 
  

 
  

 
 2. VI. Contact
Information: 
 Syndicate level information (which may contain material non-public information about the Borrower and its related
parties or their respective securities will be made available to the Credit Contact(s). The Credit Contacts identified must be able to receive such information in accordance with his/her institution’s compliance procedures and applicable
laws, including Federal and State securities laws. 
  

							
	  	  	 Credit Contact
	  	 Primary

Operations Contact
	  	 Secondary

Operations Contact

				
	 Name:
	  		  		  	
		  	 	  	 	  	 
				
	 Title:
	  		  		  	
		  	 	  	 	  	 
				
	 Address:
	  		  		  	
		  	 	  	 	  	 
				
		  		  		  	
		  	 	  	 	  	 
				
	 Telephone:
	  		  		  	
		  	 	  	 	  	 

  

 E-2-1 

Form of Administrative Questionnaire 

							
	Facsimile:	  		  		  	
		  	 	  	 	  	 
				
	E Mail Address:	  		  		  	
		  	 	  	 	  	 
				
	IntraLinks E Mail Address:	  		  		  	
		  	 	  	 	  	 
	
	 Does Secondary Operations Contact need copy of notices?      
YES       NO

				
	 	  	 Letter of Credit

Contact
	  	 Draft Documentation

Contact
	  	Legal Counsel
				
	 Name:
	  		  		  	
		  	 	  	 	  	 
				
	 Title:
	  		  		  	
		  	 	  	 	  	 
				
	 Address:
	  		  		  	
		  	 	  	 	  	 
				
	 Telephone:
	  		  		  	
		  	 	  	 	  	 
				
	 Facsimile:
	  		  		  	
		  	 	  	 	  	 
				
	 E Mail Address:
	  		  		  	
		  	 	  	 	  	 

 VII. Lender’s Standby Letter of Credit, Commercial Letter of
Credit, and Bankers’ Acceptance Fed Wire Payment Instructions (if applicable): 
  

					
	Pay to:	  		 	
			
		  	  
	 	
		  	(Bank Name)	 	
			
		  	  
	 	
		  	(ABA #)	 	
			
		  	  
	 	
		  	(Account #)	 	
			
		  	  
	 	
		  	(Attention)	 	
	  
 VIII. Lender’s Fed Wire Payment
Instructions:
  
 Pay to:

			
		  	  
	 	
		  	(Bank Name)	 	
			
		  	  
	 	
		  	(ABA#)                            
                                         
                                   (City/State)	 	
			
		  	  
	 	
		  	(Account #)	 	
		  	(Account Name)	 	
			
		  	  
	 	
		  	(Attention)	 	

  

 E-2-2 

Form of Administrative Questionnaire 

 IX. Organizational Structure and Tax Status 

Please refer to the enclosed withholding tax instructions below and then complete this section accordingly: 

Lender Taxpayer Identification Number
(TIN):                          -          
                    
 Tax
Withholding Form Delivered to Bank of America*: 

                 W-9 

                 W-8BEN 

                 W-8ECI 

                 W-8EXP 

                 W-8IMY 

 
  

					
	 	 	 Tax Contact
	 	 
	Name:	 	  
	 	
			
	Title:	 	  
	 	
			
	Address:	 	  
	 	
			
	Telephone:	 	  
	 	
			
	Facsimile:	 	  
	 	
			
	E Mail Address:	 	  
	 	

 NON–U.S. LENDER INSTITUTIONS 

1. Corporations: 
 If your institution is
incorporated outside of the United States for U.S. federal income tax purposes, and is the beneficial owner of the interest and other income it receives, you must complete one of the following three tax forms, as applicable to your institution: a.)
Form W-8BEN (Certificate of Foreign Status of Beneficial Owner), b.) Form W-8ECI (Income Effectively Connected to a U.S. Trade or Business), or c.) Form W-8EXP (Certificate of Foreign Government or Governmental Agency). 

 

 E-2-3 

Form of Administrative Questionnaire 

 A U.S. taxpayer identification number is required for any institution submitting a Form W-8 ECI. It is also
required on Form W-8BEN for certain institutions claiming the benefits of a tax treaty with the U.S. Please refer to the instructions when completing the form applicable to your institution. In addition, please be advised that U.S. tax regulations
do not permit the acceptance of faxed forms. An original tax form must be submitted. 
 2. Flow-Through Entities 

If your institution is organized outside the U.S., and is classified for U.S. federal income tax purposes as either a Partnership, Trust, Qualified or
Non-Qualified Intermediary, or other non-U.S. flow-through entity, an original Form 
 W-8IMY (Certificate of Foreign Intermediary, Foreign
Flow-Through Entity, or Certain U.S. branches for United States Tax Withholding) must be completed by the intermediary together with a withholding statement. Flow-through entities other than Qualified Intermediaries are required to include tax forms
for each of the underlying beneficial owners. 
 Please refer to the instructions when completing this form. In addition, please be advised that
U.S. tax regulations do not permit the acceptance of faxed forms. Original tax form(s) must be submitted. 
 U.S. LENDER INSTITUTIONS:

 If your institution is incorporated or organized within the United States, you must complete and return Form W-9 (Request for Taxpayer
Identification Number and Certification). Please be advised that we require an original form W-9. 
 Pursuant to the language
contained in the tax section of the Credit Agreement, the applicable tax form for your institution must be completed and returned on or prior to the date on which your institution becomes a lender under this Credit Agreement. Failure to provide the
proper tax form when requested will subject your institution to U.S. tax withholding. 
 *Additional guidance and instructions as to
where to submit this documentation can be found at this link: 

 

 

 X. Bank of America Payment Instructions: 

 

			
	Pay to:	 	Bank of America, N.A.
		 	ABA # 026009593
		 	New York, NY
		 	Acct. # 1366212250600
		 	Attn: Corporate Credit Services
		 	Ref: Harte-Hanks Inc.

  

 E-2-4 

Form of Administrative Questionnaire 

 EXHIBIT F 

OPINION MATTERS 
 The
matters contained in the following Sections of the Credit Agreement should be covered by the legal opinion: 
  

	 	•	 	 Section 5.01(a), (b) and (c) 

 

	 	•	 	 Section 5.02 

  

	 	•	 	 Section 5.03 

  

	 	•	 	 Section 5.04 

  

	 	•	 	 Section 5.06 

  

	 	•	 	 Section 5.14(b) 

  

 F-1 

Opinion Matters

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