Document:

EX-10.15

 Exhibit 10.15 

EXECUTION VERSION 
 SECURITY
AGREEMENT 
 Dated August 18, 2015 

among 
 The Grantors referred to
herein, 
 as Grantors 
 and

 CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, 

as Collateral Agent 

 TABLE OF CONTENTS 

 

							
	Section	 	 	  	Page	 
			
	 Section 1.
	 	Grant of Security	  	 	2	 
			
	 Section 2.
	 	Security for Obligations	  	 	5	 
			
	 Section 3.
	 	Grantors Remain Liable	  	 	6	 
			
	 Section 4.
	 	Delivery and Control of Security Collateral	  	 	6	 
			
	 Section 5.
	 	Maintaining Collateral Accounts; Giving Notice of Commercial Tort Claims	  	 	7	 
			
	 Section 6.
	 	Representations and Warranties	  	 	7	 
			
	 Section 7.
	 	Further Assurances	  	 	9	 
			
	 Section 8.
	 	Post-Closing Changes; Collections on Assigned Agreements and Accounts	  	 	10	 
			
	 Section 9.
	 	As to Intellectual Property Collateral	  	 	11	 
			
	 Section 10.
	 	Voting Rights; Dividends; Etc.	  	 	12	 
			
	 Section 11.
	 	Collateral Agent Appointed Attorney-in-Fact	  	 	13	 
			
	 Section 12.
	 	Collateral Agent May Perform	  	 	13	 
			
	 Section 13.
	 	The Collateral Agent’s Duties	  	 	14	 
			
	 Section 14.
	 	Remedies	  	 	14	 
			
	 Section 15.
	 	Expenses	  	 	16	 
			
	 Section 16.
	 	Amendments; Waivers; Additional Grantors; Etc.	  	 	17	 
			
	 Section 17.
	 	Notices, Etc.	  	 	17	 
			
	 Section 18.
	 	Continuing Security Interest; Assignments under the Credit Agreement	  	 	17	 
			
	 Section 19.
	 	Release; Termination	  	 	18	 
			
	 Section 20.
	 	Execution in Counterparts	  	 	18	 
			
	 Section 21.
	 	The Mortgages	  	 	18	 
			
	 Section 22.
	 	Governing Law; Jurisdiction; Etc.	  	 	18	 
			
	 Section 23.
	 	Intercreditor Agreement	  	 	19	 

  
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	Schedules:	  		  	
			
	Schedule I	  	-  	  	Location, Chief Executive Office, Type Of Organization, Jurisdiction Of Organization, Organizational Identification Number, Tax Identification Number and Trade Names
	Schedule II	  	-  	  	Pledged Interests
	Schedule III	  	-  	  	Patents, Trademarks and Copyrights
	Schedule IV	  	-  	  	Commercial Tort Claims
	Schedule V	  	-  	  	Equipment and Inventory
			
	Exhibits:	  		  	
			
	Exhibit A	  	-  	  	Form of Security Agreement Supplement
	Exhibit B	  	-  	  	Form of Intellectual Property Security Agreement
	Exhibit C	  	-  	  	Form of Intellectual Property Security Agreement Supplement

  
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 SECURITY AGREEMENT dated as of August 18, 2015 (as amended, amended and
restated, supplemented or otherwise modified from time to time, this “Agreement”), among JAGUAR HOLDING COMPANY II, a Delaware corporation (“Parent Borrower”), PHARMACEUTICAL PRODUCT DEVELOPMENT, LLC, a Delaware
limited liability company (the “Subsidiary Borrower” and together with Parent Borrower, the “Borrowers”), JAGUAR HOLDING COMPANY I, a Delaware corporation (“Holdings”), WILDCAT ACQUISITION HOLDINGS
(UK) LIMITED, a limited liability company incorporated under the laws of England and Wales (“UK HoldCo”), JAGUAR CAYMAN FINANCE LIMITED, an exempted company duly incorporated under the laws of the Cayman Islands with limited
liability and registration number 263841 (“Cayman FinCo”), the other Persons listed on the signature pages hereof (the “Subsidiary Grantors”), the Additional Grantors (as hereinafter defined) from time to time party
hereto (Holdings, Parent Borrower, the Subsidiary Borrower, UK HoldCo, Cayman FinCo, the Subsidiary Grantors and such Additional Grantors being, collectively, the “Grantors”), and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, collateral
agent (in such capacity, together with any successor collateral agent, the “Collateral Agent”) for the Secured Parties (as defined in the Credit Agreement (as defined below)). 

PRELIMINARY STATEMENTS 

(1) Holdings, Parent Borrower and the Subsidiary Borrower have entered into a Credit Agreement dated of even date herewith (said Credit
Agreement, as it may hereafter be amended, amended and restated, supplemented, replaced, refinanced or otherwise modified from time to time (including any increases of the principal amount outstanding thereunder), being herein referred to as the
“Credit Agreement”), with Credit Suisse AG, Cayman Islands Branch, as Administrative Agent, Collateral Agent and a L/C Issuer, and the other parties party thereto. 

(2) Pursuant to the Credit Agreement, the Grantors are entering into this Agreement in order to grant to the Collateral Agent, for the benefit
of the Secured Parties, a security interest in the Collateral (as hereinafter defined). 
 (3) It is a condition precedent to the making of
Loans by the Lenders from time to time and the issuance of Letters of Credit by the L/C Issuers from time to time, the entry into Secured Hedge Agreements by the Hedge Banks from time to time and the entry into Secured Cash Management Agreements by
the Cash Management Banks from time to time that the Grantors shall have granted the security interests and made the pledges contemplated by this Agreement. 

(4) Each Grantor will derive substantial direct and indirect benefit from the transactions contemplated by the Loan Documents and the other
Secured Documents (as defined herein). 
 (5) Capitalized terms defined in the Credit Agreement and not otherwise defined in this Agreement
are used in this Agreement as defined in the Credit Agreement. Further, unless otherwise defined in this Agreement or in the Credit Agreement, terms defined in Article 8 or 9 of the UCC are used in this Agreement as such terms are defined in such
Article 8 or 9 (including Accounts, Certificated Security, Chattel Paper, Commercial Tort Claims, Commodity Account, Commodity Contract, Deposit Accounts, Documents, Equipment, Financial Assets, Fixtures, General Intangibles, Goods, Instruments,
Inventory, Investment Property, Letter of Credit Rights, Securities Accounts, Securities Intermediary, Security, Security Entitlements and Supporting Obligations). 

NOW, THEREFORE, in consideration of the premises and in order to induce the Lenders to make Loans from time to time, the L/C Issuers to issue
Letters of Credit from time to time, the Hedge Banks to enter into Secured Hedge Agreements from time to time and the Cash Management Banks to enter into Secured Cash Management Agreements from time to time, each Grantor hereby agrees with the
Collateral Agent for the benefit of the Secured Parties as follows: 

  
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 Section 1. Grant of Security. As security for the payment or performance, as the
case may be, in full of the Secured Obligations (as defined below), each Grantor hereby collaterally assigns and pledges to the Collateral Agent (and its successors and permitted assigns), for the benefit of the Secured Parties, and each Grantor
hereby grants to the Collateral Agent (and its successors and permitted assigns), for the benefit of the Secured Parties, a security interest in and continuing lien on all of such Grantor’s right, title and interest in and to the following, in
each case, as to each type of property described below, whether now owned or hereafter acquired by such Grantor, wherever located, and whether now or hereafter existing or arising (collectively, the “Collateral”): 

(a) all Accounts; 

(b) all cash and Cash Equivalents; 

(c) all Chattel Paper; 

(d) all Commercial Tort Claims set forth on Schedule IV hereto or for which notice is required to be provided pursuant
to Section 5(a) below; 
 (e) all Deposit Accounts; 

(f) all Documents; 

(g) all Equipment; 

(h) subject to Section 21 hereof, all Fixtures; 

(i) all General Intangibles; 

(j) all Goods; 

(k) all Instruments; 

(l) all Inventory; 

(m) all Letter-of-Credit Rights; 

(n) the following (the “Security Collateral”): 

(i) all indebtedness from time to time owed to such Grantor, including, without limitation, the indebtedness set forth opposite
such Grantor’s name on and otherwise described on Schedule II (as such Schedule II may be supplemented from time to time by supplements to this Agreement) (all such indebtedness being the “Pledged Debt”), and the
instruments and promissory notes, if any, evidencing such indebtedness, and all interest, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the Pledged
Debt; 

  
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 (ii) all Equity Interests of any Person from time to time acquired, owned or
held directly by such Grantor in any manner, including, without limitation, the Equity Interests owned or held by each Grantor set forth opposite such Grantor’s name on and otherwise described on Schedule II (as such Schedule II
may be supplemented from time to time by supplements to this Agreement) (all such Equity Interests being the “Pledged Interests”), and the certificates, if any, representing such shares or units or other Equity Interests, and all
dividends, distributions, return of capital, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such shares or other Equity Interests and all warrants,
rights or options issued thereon or with respect thereto; provided that such Grantor shall not be required to pledge, and the terms “Pledged Interests” and “Security Collateral” used in this Agreement shall
not include, any voting Equity Interests that constitute Excluded Assets; and 
 (iii) all Investment Property and all
Financial Assets, and all dividends, distributions, return of capital, interest, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange therefor and all warrants, rights or
options issued thereon or with respect thereto; 
 (o) all contracts and agreements between any Grantor and one or more
additional parties (including, without limitation, any Swap Contracts, licensing agreements and any partnership agreements, joint venture agreements, limited liability company agreements) and the IP Agreements (as hereinafter defined), in each case
as such agreements may be amended, amended and restated, supplemented or otherwise modified from time to time (collectively, the “Assigned Agreements”), including, without limitation, all rights of such Grantor to receive moneys due
and to become due under or pursuant to the Assigned Agreements (all such Collateral being the “Agreement Collateral”); 

(p) the following (collectively, the “Intellectual Property Collateral”): 

(i) all patents, patent applications, utility models, statutory invention registrations and all inventions claimed or disclosed
therein and all improvements thereto (“Patents”); 
 (ii) all trademarks, trademark applications, service
marks, domain names, trade dress, logos, designs, slogans, trade names, business names, corporate names and other source identifiers, whether registered or unregistered (provided that no security interest shall be granted in United States intent-to-use trademark applications prior to the filing of a “Statement of Use” pursuant to Section 1(d) of the Lanham Act or an “Amendment to Allege
Use” pursuant to Section 1(c) of the Lanham Act with respect thereto, to the extent that, and solely during the period, if any, in which, the grant of a security interest therein would impair the validity or enforceability of any
registration that issues from such intent-to-use application under applicable federal law), together, in each case, with the goodwill symbolized thereby
(“Trademarks”); 
 (iii) all copyrights, including, without limitation, copyrights in Computer Software (as
hereinafter defined), internet websites and the content thereof, whether registered or unregistered (“Copyrights”); 

(iv) all computer software, programs and databases (including, without limitation, source code, object code and all related
applications and data files), firmware and documentation and materials relating thereto, together with any and all maintenance rights, service rights, programming rights, hosting rights, test rights, improvement rights, renewal rights and
indemnification rights and any substitutions, replacements, improvements, error corrections, updates and new versions of any of the foregoing (“Computer Software”); 

  
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 (v) all confidential and proprietary information, including, without
limitation, know-how, trade secrets, manufacturing and production processes and techniques, inventions, research and development information, databases and data, including, without limitation, technical data,
financial, marketing and business data, pricing and cost information, business and marketing plans and customer and supplier lists and information, and all other intellectual, industrial and intangible property of any type, including, without
limitation, industrial designs and mask works; 
 (vi) all registrations and applications for registration for any of the
foregoing, including, without limitation, those registrations and applications for registration at the U.S. Patent and Trademark Office (the “USPTO”) or the U.S. Copyright Office (the “USCO”) set forth in
Schedule III hereto (as such Schedule III may be supplemented from time to time by supplements to this Agreement, each such supplement being substantially in the form of Exhibit C hereto (an “IP Security Agreement
Supplement”) executed by such Grantor to the Collateral Agent from time to time), together with all reissues, divisions, continuations, continuations-in-part,
extensions, renewals and reexaminations thereof; 
 (vii) all tangible embodiments of the foregoing, all rights in the
foregoing corresponding thereto throughout the world and all other rights of any kind whatsoever of such Grantor accruing thereunder or pertaining thereto; 

(viii) all agreements granting to any Grantor, or pursuant to which any Grantor grants to any other Person rights in any of the
foregoing (“IP Agreements”); and 
 (ix) any and all claims for damages or injunctive relief for past,
present and future infringement, dilution, misappropriation, violation, misuse or breach with respect to any of the foregoing, with the right, but not the obligation, to sue for and collect, or otherwise recover, such damages; 

(q) all books and records (including, without limitation, customer lists, credit files, printouts and other computer output
materials and records) of such Grantor pertaining to any of the Collateral; 
 (r) all other tangible and intangible personal
property of whatever nature whether or not covered by Article 9 of the UCC; and 
 (s) all proceeds of, collateral for,
income, royalties and other payments now or hereafter due and payable with respect to, and Supporting Obligations relating to, any and all of the Collateral (including, without limitation, proceeds, collateral and Supporting Obligations that
constitute property of the types described in clauses (a) through (r) of this Section 1), and, to the extent not otherwise included, all payments under insurance covering any Collateral (whether or not the Collateral
Agent is the loss payee thereof), or any indemnity, warranty or guaranty, payable by reason of loss or damage to or otherwise with respect to any of the foregoing Collateral; 

  
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 provided that notwithstanding anything to the contrary contained in the foregoing clauses
(a) through (s), the security interest created by this Agreement shall not extend to, and the terms “Collateral,” “Security Collateral,” “Agreement Collateral,” “Intellectual Property
Collateral” and other terms defining the components of the Collateral in the foregoing clauses (a) through (s) shall not include any of the following (collectively, the “Excluded Assets”): 

(i) Excluded Property; 

(ii) any property of Holdings other than Equity Interests of Parent Borrower, the certificates, if any, representing such
Equity Interests, all dividends, distributions, return of capital, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such Equity Interests and all
warrants, rights and options issued thereon or with respect thereto; 
 (iii) any Equity Interests of UK Holdco held by any
Grantor, the certificates, if any, representing such Equity Interests, all dividends, distributions, return of capital, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange
for any or all of such Equity Interests and all warrants, rights and options issued thereon or with respect thereto; and 

(iv) any property acquired, owned or held by UK Holdco other than Equity Interests of any Domestic Subsidiary (other than any
FSHCO or Controlled Foreign Subsidiary), the certificates, if any, representing such Equity Interests, all dividends, distributions, return of capital, cash, instruments and other property from time to time received, receivable or otherwise
distributed in respect of or in exchange for any or all of such Equity Interests and all warrants, rights and options issued thereon or with respect thereto; 

provided, further, that immediately upon the ineffectiveness, lapse or termination of any restriction or condition covering, or resulting in,
any asset or other property of a Grantor constituting an Excluded Asset, the Collateral shall include and such Grantor shall be deemed to have granted a security interest in, such Grantor’s right, title and interest in and to such asset or
other property as if such restriction or condition had never been in effect and such asset or other property shall no longer constitute an Excluded Asset; 

provided, further, that notwithstanding anything to the contrary contained in the foregoing clauses (a) through (s), no Grantor shall be
required to (x) take any action or enter into any agreement in contravention of the Perfection Exceptions or (y) make any filing with respect to any Intellectual Property Collateral other than filing a UCC financing statement and filings
at the USPTO or USCO. 
 Section 2. Security for Obligations. This Agreement secures, in the case of each Grantor, the payment
of all Obligations of such Grantor now or hereafter existing under the Loan Documents, any Secured Cash Management Agreement or any Secured Hedge Agreement (the Loan Documents, Secured Cash Management Agreements and Secured Hedge Agreements,
collectively, the “Secured Documents”) (as such Secured Documents may be amended, amended and restated, supplemented, replaced, refinanced or otherwise modified from time to time (including any increases of the principal amount
outstanding thereunder)), whether direct or indirect, absolute or contingent, and whether for principal, reimbursement obligations, interest, fees, premiums, penalties, indemnifications, contract causes of action, costs, expenses or otherwise (all
such Obligations being the “Secured Obligations”). Without limiting the generality of the foregoing, this Agreement secures, as to each Grantor, the payment of all amounts that constitute part of the Secured Obligations that would
be owed by such Grantor to any Secured Party under the Secured Documents but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving a Loan Party. 

  
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 Section 3. Grantors Remain Liable. Anything herein to the contrary
notwithstanding, (a) each Grantor shall remain liable under its contracts and agreements included in the Collateral to the extent set forth therein to perform all of its duties and obligations thereunder to the same extent as if this Agreement
had not been executed, (b) the exercise by the Collateral Agent of any of the rights hereunder shall not release any Grantor from any of its duties or obligations under the contracts and agreements included in the Collateral and (c) no
Secured Party shall have any obligation or liability under the contracts and agreements included in the Collateral by reason of this Agreement or any other Secured Document, nor shall any Secured Party be obligated to perform any of the obligations
or duties of any Grantor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder. 
 Section 4.
Delivery and Control of Security Collateral. (a) All certificates, if any, representing or evidencing the Pledged Interests (other than Equity Interests of non-wholly owned Subsidiaries with a fair
market value of less than $7,500,000) and all instruments representing or evidencing the Pledged Debt individually or in an aggregate principal amount together with all other such Pledged Debt in excess of $ 7,500,000 (other than any short-term
intercompany current liabilities incurred in the ordinary course of business and consistent with past practice in connection with the cash management operations of the Parent Borrower and its Restricted Subsidiaries) shall be promptly delivered to
and held by or on behalf of the Collateral Agent pursuant hereto and shall be in suitable form for transfer by delivery, or shall be accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance reasonably
satisfactory to the Collateral Agent. During the continuation of an Event of Default, the Collateral Agent shall have the right at any time, in its discretion and without notice to any Grantor, to (i) transfer to or to register in the name of
the Collateral Agent or any of its nominees any or all of the Security Collateral, subject only to the revocable rights specified in Section 10(a), (ii) exchange certificates or instruments representing or evidencing
Security Collateral for certificates or instruments of smaller or larger denominations and (iii) convert Security Collateral consisting of Financial Assets credited to any Securities Account to Security Collateral consisting of Financial Assets
held directly by the Collateral Agent, and to convert Security Collateral consisting of Financial Assets held directly by the Collateral Agent to Security Collateral consisting of Financial Assets credited to any Securities Account. 

(b) During the continuation of an Event of Default and after the Collateral Agent has given notice to the applicable Grantor of
its intent to exercise remedies, with respect to any Security Collateral in which any Grantor has any right, title or interest and that (i) is not an uncertificated security, promptly upon the request of the Collateral Agent, such Grantor will
notify each issuer of Pledged Interests that such Pledged Interests are subject to the security interests granted hereunder or (ii) is an uncertificated security, promptly upon the request of the Collateral Agent, such Grantor will cause the
issuer thereof either (A) to (other than with respect to shares in Cayman FinCo) register the Collateral Agent as the registered owner of such security or (B) to agree in an authenticated record with such Grantor and the Collateral Agent
that such issuer will comply with instructions with respect to such security originated by the Collateral Agent without further consent of such Grantor, such authenticated record to be in form and substance reasonably satisfactory to the Collateral
Agent. 
 (c) Each Grantor agrees that to the extent each interest in any limited liability company or limited partnership
controlled now or in the future by such Grantor and pledged hereunder is a “security” within the meaning of Article 8 of the UCC and is governed by Article 8 of the UCC, (i) such interest shall be certificated and (ii) each such
interest shall at all times 

  
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hereafter continue to be such a security and represented by such certificate. Each Grantor further acknowledges and agrees that with respect to any interest in any limited liability company or
limited partnership controlled now or in the future by such Grantor and pledged hereunder that is not a “security” within the meaning of Article 8 of the UCC, such Grantor shall at no time elect to treat any such interest as a
“security” within the meaning of Article 8 of the UCC, nor shall such interest be represented by a certificate, unless such Grantor provides written notification to the Collateral Agent of such election and such interest is thereafter
represented by a certificate that is promptly delivered to the Collateral Agent pursuant to the terms hereof. 
 (d) During
the continuation of an Event of Default and after the Collateral Agent has given notice to the applicable Grantor of its intent to exercise remedies, promptly upon the request of the Collateral Agent, such Grantor will notify each issuer of Pledged
Debt that such Pledged Debt is subject to the security interests granted hereunder. 
 Section 5. Maintaining Collateral Accounts;
Giving Notice of Commercial Tort Claims. So long as any Secured Obligation of any Loan Party shall remain unpaid (other than contingent indemnification obligations as to which no claim has been asserted and obligations and liabilities under
Secured Cash Management Agreements and Secured Hedge Agreements as to which arrangements satisfactory to the applicable Cash Management Bank or Hedge Bank shall have been made) or any Letter of Credit shall be outstanding (other than Letters of
Credit which have been Cash Collateralized): 
 (a) each Grantor (other than Holdings) will give prompt notice to the
Collateral Agent of any individual Commercial Tort Claim with a claimed amount in excess of $7,500,000 and will promptly execute or otherwise authenticate a supplement to this Agreement and otherwise take all necessary action to subject such
Commercial Tort Claim to the security interests granted under this Agreement; and 
 (b) with respect to any Deposit Accounts
containing Cash Collateral, each Grantor (other than Holdings) will maintain such Deposit Accounts only with the Administrative Agent or the Collateral Agent or with another commercial bank reasonably acceptable to the Collateral Agent that has
agreed with such Grantor and the Collateral Agent to comply with instructions originated by the Collateral Agent directing the disposition of funds in such accounts without the further consent of such Grantor, such agreement to be in form and
substance reasonably satisfactory to the Collateral Agent. 
 Section 6. Representations and Warranties. Each Grantor represents
and warrants to the Collateral Agent and each Secured Party as follows (it being understood that none of the following applies to the Excluded Assets): 

(a) as of the Closing Date (after giving effect to the Transactions), (i) such Grantor’s exact legal name, as defined in Section 9-503(a) of the UCC, type of organization, jurisdiction of organization or incorporation, organizational identification number (if any) and taxpayer identification number (if any) are correctly set
forth in Schedule I hereto (as such Schedule I may be supplemented from time to time by supplements to this Agreement), (ii) such Grantor is located (within the meaning of Section 9-307 of
the UCC) and has its chief executive office, in the state or jurisdiction set forth in Schedule I hereto and (iii) such Grantor has no trade names other than as listed on Schedule I hereto and, within the 5 years preceding the
Closing Date, has not changed its name, location, chief executive office, type of organization, jurisdiction of organization or incorporation, organizational identification number or taxpayer identification number (if any) from those set forth on
Schedule I, except as described on Schedule I; 

  
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 (b) all of the Equipment and Inventory of such Grantor (other than
Holdings), in each case, with value (together with the value of all Equipment and Inventory of all other Grantors located at the same place) in excess of $7,500,000 are located at the places specified in Schedule 5.08(b) to the Credit
Agreement and on Schedule V hereto as of the Closing Date. All Pledged Interests consisting of certificated securities (other than Equity Interests of non-wholly owned Subsidiaries with a fair market
value of less than $7,500,000) and all Pledged Debt consisting of instruments in an aggregate principal amount in excess of $7,500,000 have been or will be delivered to the Collateral Agent in accordance herewith and with the Credit Agreement; 

(c) such Grantor is the legal and beneficial owner of the Collateral (other than Intellectual Property Collateral) granted or
purported to be granted by it free and clear of any Lien, claim, option or right of others, except for the security interest created under this Agreement, and Permitted Liens; 

(d) (i) the Pledged Interests pledged by such Grantor on the Closing Date constitute the percentage of the issued and
outstanding Equity Interests of the issuers thereof indicated on Schedule II hereto, which schedule correctly represents as of the date hereof the issuer, the certificate number, if any, the Grantor and the record owner, the number and class
and the percentage pledged of such class, (ii) no amount payable under or in connection with any of the Pledged Debt in an aggregate principal amount in excess of $7,500,000 on the Closing Date is evidenced by an instrument or Tangible Chattel
Paper other than such instruments and Tangible Chattel Paper indicated on Schedule II, which schedule correctly represents the issuers thereof, the initial principal amount, the Grantor and holder and date of issuance of all Pledged Debt, and
(iii) as of the Closing Date, the Pledged Interests pledged by such Grantor hereunder have been validly issued and, in the case of Pledged Interests issued by a corporation, are fully paid and non-assessable
(to the extent such concepts are applicable in the relevant jurisdiction) and, in the case of Pledged Debt among the Grantors and their Subsidiaries, are legal, valid and binding obligations of the issuers thereof; 

(e) such Grantor has full power, authority and legal right to pledge all the Collateral pledged by such Grantor pursuant to
this Agreement and upon the filing of appropriate financing statements under the UCC and the recordation of the IP Security Agreement (as defined below) with the USPTO and the USCO and the taking of possession or control by the Collateral Agent of
such Collateral with respect to which a security interest may be perfected only by possession or control (which possession or control shall be given to the Collateral Agent to the extent required by this Agreement), all actions necessary to perfect
the security interest, so far as perfection is possible under relevant law, in the Collateral of such Grantor created under this Agreement with respect to which a Lien may be perfected by filing or possession or control pursuant to the UCC or 35
U.S.C. §261, 15 U.S.C. §1060 or 17 U.S.C. §205 subject to the terms of this Agreement shall have been duly made or taken and are in full force and effect, and this Agreement creates in favor of the Collateral Agent for the benefit of
the Secured Parties a valid, enforceable and, together with such filings and other actions, perfected, so far as perfection is possible under relevant law, first priority security interest in such Collateral of such Grantor (subject to the
Perfection Exceptions and Permitted Liens), securing the payment of the Secured Obligations; 
 (f) except with respect to
Holdings and as could not reasonably be expected to have a Material Adverse Effect: 
 (i) to the knowledge of any Grantor,
the conduct of the business of such Grantor as currently conducted does not infringe upon, misappropriate, dilute or otherwise violate the intellectual property rights of any third party; 

  
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 (ii) such Grantor is the exclusive owner of all of the Intellectual Property
Collateral set forth on Schedule III, and is entitled to use all Intellectual Property Collateral subject only to the terms of the IP Agreements; 

(iii) as of the Closing Date, the Intellectual Property Collateral set forth on Schedule III hereto includes all of the
patents, patent applications, trademark registrations and applications, copyright registrations and applications filed at the USPTO or the USCO material to such Grantor’s business (hereinafter “Registered Intellectual Property
Collateral”); 
 (iv) the Registered Intellectual Property Collateral is subsisting and has not been adjudged
invalid or unenforceable in whole or part; 
 (v) no claim, action, suit, investigation, litigation or proceeding has been
asserted in writing and is pending or, to the knowledge of such Grantor, is threatened in writing against such Grantor (i) challenging the Grantor’s ownership of any of the Intellectual Property Collateral or (ii) alleging that the
services provided by, processes used by, or products manufactured or sold by, such Grantor infringe, misappropriate, dilute, misuse or otherwise violate any patent, trademark, copyright or any other intellectual property right of any third party. To
the knowledge of any Grantor, no Person is engaging in any activity that infringes, misappropriates, dilutes or otherwise violates the Intellectual Property Collateral owned by such Grantor; and 

(g) such Grantor (other than Holdings) has no Commercial Tort Claims with an individual claimed value in excess of $7,500,000
other than those listed in Schedule IV and additional Commercial Tort Claims subject to the requirements of Section 5(a) hereof. 

Section 7. Further Assurances. (a) Each Grantor agrees that from time to time, at the expense of such Grantor, such Grantor
will promptly execute and deliver, or otherwise authenticate, all further instruments and documents, and take all further action that may be necessary or that the Collateral Agent may reasonably request, in order to grant, preserve, perfect and/or
protect any pledge or security interest granted or purported to be granted by such Grantor hereunder or to enable the Collateral Agent to exercise and enforce its rights and remedies hereunder with respect to any Collateral of such Grantor, subject
in each case to the Perfection Exceptions. Without limiting the generality of the foregoing, each Grantor will, upon the Collateral Agent’s reasonable request, promptly with respect to Collateral of such Grantor: (i) if any such Collateral
with a value in excess of $7,500,000 shall be evidenced by a promissory note or other instrument or Chattel Paper, deliver and pledge to the Collateral Agent hereunder such note or instrument or Chattel Paper duly indorsed and accompanied by duly
executed instruments of transfer or assignment, all in form and substance reasonably satisfactory to the Collateral Agent; (ii) execute or authenticate and file such financing or continuation statements, or amendments thereto, and such other
instruments or notices, as may be reasonably necessary, or as the Collateral Agent may reasonably request, in order to perfect and preserve the perfected security interest granted or purported to be granted by such Grantor hereunder;
(iii) deliver and pledge to the Collateral Agent for benefit of the Secured Parties certificates representing Security Collateral that constitutes certificated securities, accompanied by undated stock or bond powers executed in blank (to the
extent required to be pledged pursuant to the Credit Agreement or this Agreement); and (iv) deliver to the Collateral Agent evidence that all other action (subject to the Perfection Exceptions) that the Collateral Agent may reasonably require
from time to time in order to grant, preserve, perfect and protect the security interest granted or purported to be granted by such Grantor under this Agreement has been taken. 

  
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 (b) Each Grantor hereby authorizes the Collateral Agent to file one or more
financing or continuation statements, and amendments thereto, including, without limitation, one or more financing statements indicating that such financing statements cover all assets or all personal property (or words of similar effect), whether
now owned or hereafter acquired, of such Grantor, in each case without the signature of such Grantor, and regardless of whether any particular asset described in such financing statements falls within the scope of the UCC or the granting clause of
this Agreement. A photocopy or other reproduction of this Agreement or any financing statement covering the Collateral or any part thereof shall be sufficient as a financing statement where permitted by law. Each Grantor ratifies its authorization
for the Collateral Agent to have filed such financing statements, continuation statements or amendments filed prior to the date hereof. 

(c) At the time of delivery of annual financial statements with respect to the preceding fiscal year pursuant to
Section 6.01(a) of the Credit Agreement, the Borrowers shall update Schedules II through IV of this Agreement with any changes since the Closing Date or the delivery of the previous annual financial
statements, as applicable, or confirm that there have been no such changes during such period. 
 Section 8. Post-Closing Changes;
Collections on Assigned Agreements and Accounts. (a) No Grantor will change its name, type of organization, jurisdiction of organization or incorporation, organizational identification number (if any), taxpayer identification number (if
any) or location from those referred to in Section 6(a) of this Agreement without giving concurrent written notice (or subsequent written notice if the Collateral Agent agrees in its reasonable discretion) to the Collateral
Agent and taking all action required by the Collateral Agent for the purpose of maintaining the perfection and priority of the security interest created by this Agreement. 

(b) Except as otherwise provided in this Section 8(b), each Grantor (other than Holdings) will
continue to collect, at its own expense, all amounts due or to become due such Grantor under the Accounts. In connection with such collections, such Grantor may take (and, at the Collateral Agent’s direction during the continuation of an Event
of Default, shall take) such commercially reasonable action as such Grantor (or, during the continuation of an Event of Default, the Collateral Agent) may deem necessary or advisable to enforce collection thereof; provided, however,
that the Collateral Agent shall have the right at any time upon the occurrence and during the continuance of an Event of Default and upon written notice to such Grantor of its intention to do so, to notify the Obligors under any Accounts of the
assignment of such Accounts to the Collateral Agent and to direct such Obligors to make payment of all amounts due or to become due to such Grantor thereunder directly to the Collateral Agent and, upon such notification and at the expense of such
Grantor, to enforce collection of any such Accounts, to adjust, settle or compromise the amount or payment thereof, in the same manner and to the same extent as such Grantor might have done, and to otherwise exercise all rights with respect to such
Accounts, including, without limitation, those rights set forth set forth in Section 9-607 of the UCC. After receipt by any Grantor of the notice from the Collateral Agent referred to in the proviso to
the preceding sentence, (i) all amounts and proceeds (including, without limitation, instruments) received by such Grantor in respect of the Accounts of such Grantor shall be received in trust for the benefit of the Collateral Agent hereunder,
shall be segregated from other funds of such Grantor and shall be either (A) released to such Grantor to the extent permitted under the terms of the Credit Agreement so long as no Event of Default shall have occurred and be continuing or
(B) if any Event of Default shall have occurred and be continuing, applied as provided in Section 8.04 of the Credit Agreement and (ii) except with the consent of the Collateral Agent, such Grantor will not
adjust, settle or compromise the amount or payment of any Account, release wholly or partly any Obligor thereof, or allow any credit or discount thereon. 

  
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 Section 9. As to Intellectual Property Collateral. (a) Except as could not
reasonably be expected to have a Material Adverse Effect, with respect to each item of its Registered Intellectual Property Collateral, each Grantor agrees to take, at its expense, all commercially reasonable steps, including, without limitation, in
the USPTO and USCO, to (i) maintain the validity and enforceability of such Intellectual Property Collateral and maintain such Intellectual Property Collateral in full force and effect, and (ii) pursue the registration and maintenance of
each patent, trademark, or copyright registration or application, now or hereafter included in such Intellectual Property Collateral of such Grantor, including, without limitation, the payment of required fees and taxes, the filing of responses to
office actions issued by the USPTO and USCO, the filing of applications for renewal or extension, the filing of affidavits under Sections 8 and 15 of the U.S. Trademark Act, the filing of divisional, continuation, continuation-in-part, reissue and renewal applications or extensions, the payment of maintenance fees and the participation in interference, reexamination, opposition, cancellation, infringement and
misappropriation proceedings. 
 (b) Except as could not reasonably be expected to have a Material Adverse Effect, each
Grantor shall use proper statutory notice in connection with its use of Intellectual Property Collateral registered with, issued by, or applied for with the USPTO or USCO that is material to the business of the Parent Borrower and its Restricted
Subsidiaries. Except as could not be reasonably expected to have a Material Adverse Effect, no Grantor shall do or permit any act or knowingly omit to do any act whereby any of its Registered Intellectual Property Collateral may lapse or become
invalid or unenforceable or placed in the public domain. 
 (c) Notwithstanding the foregoing, each Grantor may refrain from
taking, or shall be permitted to take, as the case may be, any actions otherwise prohibited or required by the foregoing clauses (a) and (b) of this Section 9 with respect to Intellectual Property Collateral which it
determines in its good faith commercially reasonable business judgment not to be useful to its business or worth protecting or maintaining (including without limitation by abandoning, failing to defend or maintain or causing any such Intellectual
Property Collateral to become unenforceable, abandoned, invalidated or publicly available). 
 (d) With respect to its
Registered Intellectual Property Collateral, each Grantor agrees to execute or otherwise authenticate an agreement, in substantially the form set forth in Exhibit B hereto (an “IP Security Agreement”), for recording the
security interest granted hereunder to the Collateral Agent in such Registered Intellectual Property Collateral with the USPTO and USCO. 

(e) Without limiting Section 1, each Grantor (other than Holdings) agrees that should it obtain an
ownership interest in any item of the type set forth in Section 1(p) that is not, as of the Closing Date, a part of the Intellectual Property Collateral (“After-Acquired Intellectual Property”) (i) the
provisions of this Agreement shall automatically apply thereto, and (ii) any such After-Acquired Intellectual Property and, in the case of trademarks, the goodwill symbolized thereby, shall automatically become part of the Intellectual Property
Collateral subject to the terms and conditions of this Agreement with respect thereto. Each Grantor shall, to the extent required pursuant to Section 6.12 of the Credit Agreement, execute and deliver to the Collateral
Agent, or otherwise authenticate, an IP Security Agreement Supplement covering such After-Acquired Intellectual Property which IP Security Agreement Supplement shall be recorded with the USPTO and USCO. 

  
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 (f) At such time as the Collateral Agent is lawfully entitled to exercise
its rights and remedies under Section 14, each Grantor grants to the Collateral Agent an irrevocable, non-exclusive license (exercisable without payment of royalty or other
compensation to such Grantor) subject, in the case of Trademarks, to sufficient rights to quality control and inspection in favor of such Grantor to avoid the risk of invalidation of such Trademarks, to use, assign or sublicense any Intellectual
Property Collateral in which such Grantor has rights wherever the same may be located, including, without limitation, in such license access to (i) all media in which any of the licensed items may be recorded or stored, and (ii) all
software and computer programs used for compilation or print-out. The license granted under this Section is to enable the Collateral Agent to exercise its rights and remedies under
Section 14 and for no other purpose. 
 Section 10. Voting Rights; Dividends; Etc. (a) So long as
no Event of Default shall have occurred and be continuing and, other than in the case of an Event of Default under Section 8.01(f) or (g) of the Credit Agreement, the Collateral Agent has not notified such
Grantor of its intent to exercise remedies as set forth below: 
 (i) each Grantor shall be entitled to exercise any and all
voting and other consensual rights pertaining to the Security Collateral of such Grantor or any part thereof for any purpose; provided, however, that such Grantor will not exercise or refrain from exercising any such right in a manner
prohibited by the Loan Documents; 
 (ii) each Grantor shall be entitled to receive and retain any and all dividends,
interest and other distributions paid in respect of the Security Collateral of such Grantor if and to the extent that the payment thereof is not otherwise prohibited by the terms of the Loan Documents; provided, however, that any and
all: 
 (A) dividends, interest and other distributions paid or payable other than in cash in respect of, and instruments
and other property received, receivable or otherwise distributed in respect of, or in exchange for, any Security Collateral, 

(B) dividends and other distributions paid or payable in cash in respect of any Security Collateral in connection with a
partial or total liquidation or dissolution or in connection with a reduction of capital, capital surplus or paid-in-surplus and 

(C) cash paid, payable or otherwise distributed in respect of principal of, or in redemption of, or in exchange for, any
Security Collateral, 
 (x) in the case of the foregoing clause (A), any such property distributed in respect of any Security Collateral
shall be deemed to constitute acquired property and shall be forthwith delivered to the Collateral Agent as Security Collateral in the same form as so received (with any necessary indorsement or other instrument) in accordance with the terms of this
Agreement and the provisions of Section 6.12 of the Credit Agreement and (y) in the case of the foregoing clauses (B) and (C), any such cash distributed in respect of any Security Collateral shall be subject to
the provisions of the Credit Agreement applicable to the proceeds of a Disposition of property; and 
 (iii) the Collateral
Agent will execute and deliver (or cause to be executed and delivered) to each Grantor all such proxies and other instruments as such Grantor may reasonably request for the purpose of enabling such Grantor to exercise the voting and other rights
that it is entitled to exercise pursuant to paragraph (i) above and to receive the dividends or interest payments that it is authorized to receive and retain pursuant to paragraph (ii) above. 

  
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 (b) Upon the occurrence and during the continuance of an Event of Default:

 (i) upon notice to the applicable Grantor (and automatically in the case of clause (y) below to the extent such Event
of Default is under Section 8.01(f) or (g) of the Credit Agreement), all rights of each Grantor (x) to exercise or refrain from exercising the voting and other consensual rights that it would otherwise be
entitled to exercise pursuant to Section 10(a)(i) shall cease and (y) to receive the dividends, interest and other distributions that it would otherwise be authorized to receive and retain pursuant to
Section 10(a)(ii) shall automatically cease, and all such rights shall thereupon become vested in the Collateral Agent, which shall thereupon have the sole right to exercise or refrain from exercising such voting and other
consensual rights and to receive and hold as Security Collateral such dividends, interest and other distributions; and 

(ii) all dividends, interest and other distributions that are received by any Grantor contrary to the provisions of paragraph
(i) of this Section 10(b) shall be received in trust for the benefit of the Collateral Agent, shall be segregated from other funds of such Grantor and shall be forthwith paid over to the Collateral Agent as Security
Collateral in the same form as so received (with any necessary indorsement). 
 Section 11. Collateral Agent Appointed Attorney-in-Fact. Each Grantor hereby irrevocably appoints the Collateral Agent such Grantor’s
attorney-in-fact, with full authority in the place and stead of such Grantor and in the name of such Grantor or otherwise, from time to time, upon the occurrence and
during the continuance of an Event of Default, in the Collateral Agent’s discretion, to take any action and to execute any instrument that the Collateral Agent may deem necessary or advisable to accomplish the purposes of this Agreement (in
accordance with this Agreement and each other applicable Loan Document), including, without limitation: 
 (a) to obtain and
adjust insurance required to be paid to the Collateral Agent; 
 (b) to ask for, demand, collect, sue for, recover,
compromise, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral; 

(c) to receive, indorse and collect any drafts or other instruments, documents and Chattel Paper, in connection with clause
(a) or (b) above; and 
 (d) to file any claims or take any action or institute any proceedings that the Collateral
Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce compliance with the terms and conditions of any Assigned Agreement or the rights of the Collateral Agent with respect to any of the Collateral.

 Section 12. Collateral Agent May Perform. If any Grantor fails to perform any agreement contained herein after the expiration
or termination of any applicable cure or grace periods, the Collateral Agent may, after providing notice to such Grantor of its intent to do so, but without any obligation to do so, itself perform, or cause performance of, such agreement, and the
expenses of the Collateral Agent incurred in connection therewith shall be payable by such Grantor under Section 15. 

  
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 Section 13. The Collateral Agent’s Duties. (a) The powers conferred on
the Collateral Agent hereunder are solely to protect the Secured Parties’ interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the exercise of reasonable care with respect to the custody of
any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Collateral Agent shall have no duty as to any Collateral, as to ascertaining or taking action with respect to calls, conversions, exchanges,
maturities, tenders or other matters relative to any Collateral, whether or not any Secured Party has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against any parties or any other
rights pertaining to any Collateral. The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if such Collateral is accorded treatment substantially equal to that
which it accords its own property. It is expressly understood and agreed that the obligations of the Collateral Agent as holder of the Collateral and interests therein and with respect to the disposition thereof, and otherwise under this Agreement,
are only those expressly set forth in this Agreement and in Article IX of the Credit Agreement. The Collateral Agent shall act hereunder on the terms and conditions set forth herein and in Article IX of the Credit Agreement. 

(b) The Secured Parties and the Collateral Agent have no obligation to keep Collateral in their possession identifiable. The
Collateral Agent has no obligation to collect dividends, distributions or interest payable on, or exercise any option or right in connection with any Collateral. The Collateral Agent has no obligation to protect or preserve any Collateral from
depreciating in value or becoming worthless and is released from all responsibility for any loss of value, whether such Collateral is in the possession of, is a security entitlement of, or is subject to the control of, the Collateral Agent, a
securities intermediary, the Grantor or any other person. 
 (c) The Collateral Agent may from time to time, when the
Collateral Agent deems it to be necessary, appoint one or more subagents (each a “Subagent”) for the Collateral Agent hereunder with respect to all or any part of the Collateral. In the event that the Collateral Agent so appoints
any Subagent with respect to any Collateral, (i) the assignment and pledge of such Collateral and the security interest granted in such Collateral by each Grantor hereunder shall be deemed for purposes of this Agreement to have been made to
such Subagent, in addition to the Collateral Agent, for the ratable benefit of the Secured Parties, as security for the Secured Obligations of such Grantor, (ii) such Subagent shall automatically be vested, in addition to the Collateral Agent,
with all rights, powers, privileges, interests and remedies of the Collateral Agent hereunder with respect to such Collateral, and (iii) the term “Collateral Agent,” when used herein in relation to any rights, powers, privileges,
interests and remedies of the Collateral Agent with respect to such Collateral, shall include such Subagent; provided, however, that no such Subagent shall be authorized to take any action with respect to any such Collateral unless and except to the
extent expressly authorized in writing by the Collateral Agent. 
 Section 14. Remedies. If any Event of Default shall have
occurred and be continuing: 
 (a) The Collateral Agent may exercise in respect of the Collateral, in addition to other
rights and remedies provided for herein or otherwise available to it, all the rights and remedies of a secured party upon default under the UCC (whether or not the UCC applies to the affected Collateral) and also may: (i) require each Grantor
to, and each Grantor hereby agrees that it will at its expense and upon request of the Collateral Agent forthwith, assemble all or part of the Collateral as directed by the Collateral Agent and make it available to the Collateral Agent at a place
and time to be designated by the Collateral Agent that is reasonably convenient to both parties; (ii) without notice except as specified below, sell the Collateral or any part thereof in one or more parcels at public or private sale, at any of
the Collateral Agent’s offices or elsewhere, for cash, on credit or for future delivery, and upon such other terms as the Collateral Agent may 

  
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deem commercially reasonable; (iii) occupy any premises owned or leased by any of the Grantors where the Collateral or any part thereof is assembled or located for a reasonable period in
order to effectuate its rights and remedies hereunder or under law, without obligation to such Grantor in respect of such occupation; and (iv) exercise any and all rights and remedies of any of the Grantors under or in connection with the
Collateral, or otherwise in respect of the Collateral, including, without limitation, (A) any and all rights of such Grantor to demand or otherwise require payment of any amount under, or performance of any provision of, the Assigned
Agreements, the Accounts and the other Collateral, (B) withdraw, or cause or direct the withdrawal, of all funds with respect to accounts containing Cash Collateral and (C) exercise all other rights and remedies with respect to the
Assigned Agreements, the Accounts and the other Collateral, including, without limitation, those set forth in Section 9-607 of the UCC, in each case in accordance with the other provisions of this
Agreement. Each Grantor agrees that, to the extent notice of sale shall be required by law, at least ten days’ notice to such Grantor of the time and place of any public sale or the time after which any private sale is to be made shall
constitute reasonable notification. The Collateral Agent shall not be obligated to make any sale of Collateral regardless of notice of sale having been given. The Collateral Agent may adjourn any public or private sale from time to time by
announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. 

(b) All payments received by any Grantor under or in connection with any Assigned Agreement or otherwise in respect of the
Collateral shall be received in trust for the benefit of the Collateral Agent, shall be segregated from other funds of such Grantor and shall be forthwith paid over to the Collateral Agent in the same form as so received (with any necessary
indorsement). 
 (c) The Collateral Agent may, without notice to any Grantor except as required by law and at any time or
from time to time, charge, set-off and otherwise apply all or any part of the Secured Obligations against any funds held with respect to any Deposit Account of a Grantor that is not an Exempt Deposit Account.
For purposes of this Agreement, the term “Exempt Deposit Account” shall mean any Deposit Account owned by or in the name of a Loan Party with respect to which such Loan Party is acting as a fiduciary for another Person who is not a
Loan Party. 
 (d) Any cash held by or on behalf of the Collateral Agent and all cash proceeds received by or on behalf of
the Collateral Agent in respect of any sale of, collection from, or other realization upon all or any part of the Collateral may, in the discretion of the Collateral Agent, be held by the Collateral Agent as collateral for, and/or then or at any
time thereafter applied (after payment of any amounts payable to the Collateral Agent pursuant to Section 15) in whole or in part by the Collateral Agent against, all or any part of the Secured Obligations, in the manner
set forth in Section 8.04 of the Credit Agreement. Notwithstanding the foregoing, if intercreditor arrangements have been entered into in accordance with Section 9.11 of the Credit Agreement among
the holders of the Secured Obligations and holders of any other Indebtedness permitted under the Credit Agreement which provides for the application of proceeds received by the Collateral Agent in respect of any sale of, collection from or other
realization upon all or any part of the Collateral, then such proceeds may be applied pursuant to the terms of such intercreditor arrangements. 

(e) In the event of any sale or other disposition of any of the Intellectual Property Collateral of any Grantor, the goodwill
symbolized by any Trademarks subject to such sale or other disposition shall be included therein, and such Grantor shall supply to the Collateral Agent or its designee such Grantor’s know-how and
expertise, and documents and things relating to any Intellectual Property Collateral subject to such sale or other disposition, and such Grantor’s customer lists and other records and documents relating to such Intellectual Property Collateral
and to the manufacture, distribution, advertising and sale of products and services of such Grantor. 

  
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 (f) If the Collateral Agent shall determine to exercise its right to sell
all or any of the Security Collateral of any Grantor pursuant to this Section 14, each Grantor agrees that, upon request of the Collateral Agent, such Grantor will, at its own expense, do or cause to be done all such other
acts and things as may be necessary to make such sale of such Security Collateral or any part thereof valid and binding and in compliance with applicable law. 

(g) The Collateral Agent is authorized, in connection with any sale of the Security Collateral pursuant to this
Section 14, to deliver or otherwise disclose to any prospective purchaser of the Security Collateral: (i) any registration statement or prospectus, and all supplements and amendments thereto; (ii) any information
and projections; and (iii) any other information in its possession relating to such Security Collateral. 
 (h) Except
as otherwise provided in any Loan Documents, with the written consent of the Administrative Agent and the Required Lenders, to the extent permitted by any such requirement of Law (including, without limitation,
Section 9-610 of the UCC), the Collateral Agent (or any other Person on its behalf) may bid for and become the purchaser (and may pay all or any portion of the purchase price by crediting Obligations
against the purchase price) of the Collateral or any item thereof, offered for Disposition in accordance with this Section 14 without accountability to the relevant Grantor. 

(i) Each Grantor acknowledges the impossibility of ascertaining the amount of damages that would be suffered by the Secured
Parties by reason of the failure by such Grantor to perform any of the covenants contained in Section 14(f) above and, consequently, agrees that, if such Grantor shall fail to perform any of such covenants, it will pay, as
liquidated damages and not as a penalty, an amount equal to the value of the Security Collateral on the date the Collateral Agent shall demand compliance with Section 14(f) above. 

Section 15. Expenses. (a) Each Grantor will upon demand pay to the Collateral Agent the amount of any and all reasonable
expenses, including, without limitation, the reasonable fees and expenses of its counsel that the Collateral Agent may incur in connection with (i) the administration of this Agreement, (ii) the custody, preservation, use or operation of,
or the sale of, collection from or other realization upon, any of the Collateral of such Grantor, (iii) the exercise or enforcement of any of the rights of the Collateral Agent or the other Secured Parties hereunder or (iv) the failure by
such Grantor to perform or observe any of the provisions hereof, in each case, in the manner and to the extent set forth in Section 10.04 of the Credit Agreement. 

(b) The parties hereto agree that the Collateral Agent shall be entitled to the benefits of, and the Grantors shall jointly and
severally have the indemnification obligations described in, Section 10.05 of the Credit Agreement. 

(c) Any such amounts payable as provided hereunder shall be additional Secured Obligations secured hereby and by the other
Secured Documents. The provisions of this Section 15 shall remain operative and in full force and effect regardless of the termination of this Agreement or any other Loan Document, the repayment of any of the Secured Obligations,
the invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document, any resignation of the Collateral Agent, or any investigation made by or on behalf of the Collateral Agent or any Secured Party. The Grantors
shall promptly pay or promptly reimburse the Collateral Agent and each Secured Party, as applicable, for all amounts due under this Section 15. 

  
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 Section 16. Amendments; Waivers; Additional Grantors; Etc. (a) Subject to
Section 10.01 of the Credit Agreement, no amendment or waiver of any provision of this Agreement, and no consent to any departure by any Grantor herefrom, shall in any event be effective unless the same shall be in writing
and signed by the Collateral Agent, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. No failure on the part of the Collateral Agent or any other Secured Party to exercise,
and no delay in exercising any right hereunder, shall operate as a waiver thereof; nor shall any single or partial exercise of any such right preclude any other or further exercise thereof or the exercise of any other right. 

(b) Upon the execution and delivery, or authentication, by any Person of a security agreement supplement in substantially the
form of Exhibit A hereto (each a “Security Agreement Supplement”), (i) such Person shall be referred to as an “Additional Grantor” and shall be and become a Grantor hereunder, and each reference in this
Agreement, the other Loan Documents and any Secured Cash Management Agreement or Secured Hedge Agreement, to “Grantor” shall also mean and be a reference to such Additional Grantor, and each reference in this Agreement, the other Loan
Documents and any Secured Cash Management Agreement or Secured Hedge Agreement, to “Collateral” shall also mean and be a reference to the Collateral of such Additional Grantor, and (ii) the supplemental schedules I through V attached
to each Security Agreement Supplement shall be incorporated into and become a part of and supplement Schedules I through V, respectively, hereto, and the Collateral Agent may attach such supplemental schedules to such Schedules; and
each reference to such Schedules shall mean and be a reference to such Schedules as supplemented pursuant to each Security Agreement Supplement. 

Section 17. Notices, Etc. All notices and other communications provided for hereunder shall be in writing (including telegraphic,
telecopy or telex communication or facsimile transmission) and mailed, telegraphed, telecopied, telexed, faxed or delivered to it, if to any Grantor, addressed to it in care of the Parent Borrower at the Parent Borrower’s address specified in
Schedule 10.02 of the Credit Agreement, or if to the Collateral Agent, at its address specified in Schedule 10.02 of the Credit Agreement. All such notices and other communications shall be deemed to be given or made at such time as
shall be set forth in Section 10.02 of the Credit Agreement. Delivery by telecopier or in .pdf or similar format by electronic mail of an executed counterpart of any amendment or waiver of any provision of this Agreement or
of any Security Agreement Supplement or Schedule hereto shall be effective as delivery of an original executed counterpart thereof. 

Section 18. Continuing Security Interest; Assignments under the Credit Agreement. This Agreement shall create a continuing
security interest in the Collateral and shall (a) remain in full force and effect until the termination of the Aggregate Commitments and the payment in full in cash of the Secured Obligations (other than (A) contingent indemnification
obligations as to which no claim has been asserted and (B) obligations and liabilities under Secured Cash Management Agreements and Secured Hedge Agreements) and the termination or expiration of all Letters of Credit (other than Letters of
Credit which have been Cash Collateralized), (b) be binding upon each Grantor, its successors and assigns and (c) inure, together with the rights and remedies of the Collateral Agent hereunder, to the benefit of the Secured Parties and their
respective successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), any Lender may assign or otherwise transfer all or any portion of its rights and obligations under the Credit Agreement (including, without
limitation, all or any portion of its Commitments, the Loans owing to it and the Note or Notes, if any, held by it) to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such
Lender herein or otherwise, in each case as provided in Section 10.07 of the Credit Agreement. 

  
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 Section 19. Release; Termination. (a) Upon any sale, transfer or other
disposition of any item of Collateral of any Grantor permitted by, and in accordance with, the terms of the Loan Documents to a Person that is not a Loan Party or in connection with any other release of the Liens on the Collateral provided for in
Section 9.11 of the Credit Agreement, the Collateral Agent will, at such Grantor’s expense, execute and deliver without recourse and without any representation or warranty of any kind (either express or implied) to
such Grantor such documents as such Grantor shall reasonably request to evidence the release of such item of Collateral from the assignment and security interest granted hereby; provided, however, that such Grantor shall have delivered to the
Collateral Agent a written request for release (with a reasonably detailed description of the related sale, transfer or disposition), together with a form of release for execution by the Collateral Agent and, if reasonably requested by the
Collateral Agent, a certificate of such Grantor to the effect that the release is in compliance with the Loan Documents. 

(b) Upon the termination of the Aggregate Commitments and the payment in full in cash of the Secured Obligations (other than
(A) contingent indemnification obligations as to which no claim has been asserted and (B) obligations and liabilities under Secured Cash Management Agreements and Secured Hedge Agreements) and the termination or expiration of all Letters
of Credit (other than Letters of Credit which have been Cash Collateralized), the pledge and security interests granted hereby shall automatically terminate and all rights to the Collateral shall revert to the applicable Grantor. Upon any such
termination, the Collateral Agent will, at the applicable Grantor’s expense, execute and deliver to such Grantor such documents as such Grantor shall reasonably request to evidence such termination. 

Section 20. Execution in Counterparts. This Agreement may be executed in any number of counterparts, each of which when so
executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Agreement by telecopier or in .pdf or similar format by
electronic mail shall be effective as delivery of an original executed counterpart of this Agreement. 
 Section 21. The
Mortgages. In the event that any of the Collateral hereunder is also subject to a valid and enforceable Lien under the terms of any Mortgage and the terms of such Mortgage are inconsistent with the terms of this Agreement, then with respect to
such Collateral, the terms of such Mortgage shall be controlling in the case of fixtures, letting and licenses of real property, and the terms of this Agreement shall be controlling in the case of all other Collateral. 

Section 22. Governing Law; Jurisdiction; Etc. (a) THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAW OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF, BUT INCLUDING SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 

(b) EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF
THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK CITY IN THE BOROUGH OF MANHATTAN AND OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK SITTING IN THE BOROUGH OF MANHATTAN, 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 (OTHER THAN WITH RESPECT TO ANY COLLATERAL DOCUMENT TO THE EXTENT EXPRESSLY PROVIDED OTHERWISE THEREIN), OR FOR RECOGNITION OR ENFORCEMENT OF ANY
JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES 

  
 18 

 
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, THE COLLATERAL AGENT, ANY LENDER OR ANY L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE
RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT AGAINST ANY LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 
 (c)
EACH PARTY HERETO 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) EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF
PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 10.02 OF THE CREDIT AGREEMENT. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 

(e) EACH PARTY TO THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF
ACTION ARISING UNDER THIS AGREEMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS AGREEMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR
HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS
AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 22(E) WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 

Section 23. Intercreditor Agreement. Notwithstanding any provision to the contrary in this Agreement, if any intercreditor
agreement is entered into in accordance with Section 9.11 of the Credit Agreement, in the event of any conflict or inconsistency between the provisions of such intercreditor agreement and this Agreement, the provisions of
such intercreditor agreement shall prevail. 
 [SIGNATURE PAGES FOLLOW] 

  
 19 

 IN WITNESS WHEREOF, each Grantor and the Collateral Agent have caused this Agreement to be
duly executed and delivered by its officer thereunto duly authorized as of the date first written above. 
  

			
	JAGUAR HOLDING COMPANY I
	JAGUAR HOLDING COMPANY II
	PHARMACEUTICAL PRODUCT
	DEVELOPMENT, LLC
		
	By:	 	 /s/ B. Judd Hartman

			
	Name:	 	B. Judd Hartman
	Title:	 	General Counsel and Secretary

  

			
	ACURIAN, INC.
	CLINICAL RESEARCH ADVANTAGE, INC.
	CNS RESEARCH SCIENCE, INC.
	CRA INTERMEDIATE HOLDINGS, INC.
	INNOVA HOLDINGS, INC.
	PPD INVESTIGATOR SERVICES, LLC
	RADIANT RESEARCH, INC.
		
	By:	 	 /s/ B. Judd Hartman

			
	Name:	 	B. Judd Hartman
	Title:	 	General Counsel and Secretary

  

			
	APPLIED BIOSCIENCE INTERNATIONAL, LLC
	ATP, LLC
	PPD AERONAUTICS, LLC
	PPD GLOBAL CENTRAL LABS, LLC
	PPD HOLDINGS, LLC
	PPD SERVICES, INC.
	RIVER VENTURES, LLC
		
	By:	 	 /s/ B. Judd Hartman

			
	Name:	 	B. Judd Hartman
	Title:	 	Vice President and Secretary

  
 [Signature Page to
Security Agreement] 

 
			
	Executed and Delivered as a Deed by:
	
	JAGUAR CAYMAN FINANCE LIMITED

 
			
		
	By:	 	 /s/ Brian S. Tuttle

			
	Name:	 	Brian S. Tuttle
	Title:	 	Director
	
	in the presence of:

 
			
		
	Witness:	 	 /s/ Charles H. Munn. Jr.

	Name:	 	Charles H. Munn. Jr.
	Address:	 	
[                          
              ]

[                          
              ]

  
 [Signature Page to
Security Agreement] 

 
			
	WILDCAT ACQUISITION HOLDINGS (UK) LIMITED

 
			
		
	By:	 	 /s/ B. Judd Hartman

			
	Name:	 	B. Judd Hartman
	Title:	 	Director

  
 [Signature Page to
Security Agreement] 

			
	PPD DEVELOPMENT, L.P.
		
	By:	 	PPD GP, LLC, its general partner
		
	By:	 	 /s/ B. Judd Hartman

	Name:	 	B. Judd Hartman
	Title:	 	Vice President, General Counsel and Secretary
	
	PPD GP, LLC
	X-CHEM, INC.
		
	By:	 	 /s/ B. Judd Hartman

	Name:	 	B. Judd Hartman
	Title:	 	Vice President, General Counsel and Secretary
	
	PPD VACCINES AND BIOLOGICS, LLC
		
	By:	 	 /s/ B. Judd Hartman

	Name:	 	B. Judd Hartman
	Title:	 	Vice President
	
	PHARMACO INVESTMENTS, INC.
		
	By:	 	 /s/ B. Judd Hartman

	Name:	 	B. Judd Hartman
	Title:	 	President and Secretary

  
 [Signature Page to
Security Agreement] 

			
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,
	as Collateral Agent
		
	By:	 	/s/ Nupur Kumar
		 	Name: Nupur Kumar
		 	Title: Authorized Signatory
		
	By:	 	/s/ Whitney Gaston
		 	Name: Whitney Gaston
		 	Title: Authorized Signatory

  
 [Signature Page to
Security Agreement] 

 Schedule I 

to the Security Agreement 

Location, Chief Executive Office, Type Of Organization, Jurisdiction Of Organization, Organizational Identification Number, Tax

 Identification Number and Trade Names 
  

													
	 Grantor
	 	 Type of
Organization
	 	 Jurisdiction of
Organization
	 	Organizational
I.D. No.	 	Tax
I.D. No.	 	 Trade Names
	 	 Chief Executive Office

							
	Acurian, Inc.	 	Corporation	 	Delaware	 	3130371	 	23-2957455	 		 	 2 Walnut Grove Drive
 Suite 375

Horsham, PA 19044

							
	Applied Bioscience International, LLC	 	Limited liability company	 	Delaware	 	2101156	 	22-2734293	 		 	929 North Front Street Wilmington, NC 28401-3331
							
	ATP, LLC	 	Limited liability company	 	North Carolina	 	0553835	 	56-2203444	 	PPD Medical Communications	 	929 North Front Street Wilmington, NC 28401-3331
							
	Clinical Research Advantage, Inc.	 	Corporation	 	Arizona	 	1037628-3	 	94-3150948	 	 Comprehensive Clinical Development
  

Radiant Clinical Research
	 	2141 E. Broadway Rd., Suite 110 Tempe, AZ 85282
							
	CNS Research Science, Inc.	 	Corporation	 	Delaware	 	5359580	 	46-3094187	 	 Comprehensive Clinical Development
  

Radiant Clinical Research
	 	 2141 E. Broadway Rd., Suite 110

Tempe, AZ 85282

							
	CRA Intermediate Holdings, Inc.	 	Corporation	 	Delaware	 	5202822	 	46-0929723	 		 	 2141 E. Broadway Rd., Suite 110

Tempe, AZ 85282

							
	Innova Holdings, Inc.	 	Corporation	 	Delaware	 	4356491	 	26-2769366	 		 	 2141 E. Broadway Rd., Suite 110

Tempe, AZ 85282

							
	Jaguar Cayman Finance Limited	 	Exempted company	 	Cayman Islands	 	WK-263841	 	98-1025815	 		 	 c/o Intertrust Corporate Services (Cayman) Limited, 190 Elgin Avenue Georgetown

Grand Cayman KY1-9005 Cayman Islands

													
	 Grantor
	 	 Type of
Organization
	 	 Jurisdiction of
Organization
	 	Organizational
I.D. No.	 	Tax
I.D. No.	 	 Trade Names
	 	 Chief Executive Office

							
	 Jaguar Holding
 Company I
	 	Corporation	 	Delaware	 	5059074	 	45-3806427	 	                    	 	929 North Front Street Wilmington, NC 28401-3331
							
	 Jaguar Holding
 Company II
	 	Corporation	 	Delaware	 	5059080	 	45-3806478	 		 	929 North Front Street Wilmington, NC 28401-3331
							
	 Pharmaceutical
 Product Development,

LLC
	 	Limited liability company	 	Delaware	 	5102683	 	56-1640186	 		 	929 North Front Street Wilmington, NC 28401-3331
							
	 Pharmaco Investments,
 Inc.
	 	Corporation	 	Delaware	 	2311147	 	51-0343818	 		 	929 North Front Street Wilmington, NC 28401-3331
							
	 PPD
 AERONAUTICS,

LLC
	 	Limited liability company	 	North Carolina	 	0596451	 	56-2259947	 		 	929 North Front Street Wilmington, NC 28401-3331
							
	 PPD Development,
 L.P.
	 	Limited partnership	 	Delaware	 	5103351	 	74-2325267	 		 	929 North Front Street Wilmington, NC 28401-3331
							
	 PPD Global Central
 Labs, LLC
	 	Limited liability company	 	Kentucky	 	0529336	 	26-0051882	 		 	 2 Tesseneer Road
 Highland Heights, KY 41076-
9167

							
	PPD GP, LLC	 	Limited liability company	 	Delaware	 	3468300	 	N/A	 		 	929 North Front Street Wilmington, NC 28401-3331
							
	PPD Holdings, LLC	 	Limited liability company	 	Delaware	 	3457195	 	N/A	 		 	929 North Front Street Wilmington, NC 28401-3331
							
	 PPD Investigator
 Services, LLC
	 	Limited liability company	 	Delaware	 	5344516	 	46-2919241	 		 	929 North Front Street Wilmington, NC 28401-3331
							
	PPD Services, Inc.	 	Corporation	 	North Carolina	 	1266960	 	45-3723770	 		 	929 North Front Street Wilmington, NC 28401-3331
							
	 PPD Vaccines and
 Biologics, LLC
	 	Limited liability company	 	Pennsylvania	 	3846611	 	26-3748896	 		 	929 North Front Street Wilmington, NC 28401-3331

													
	 Grantor
	 	 Type of
Organization
	 	 Jurisdiction of
Organization
	 	Organizational
I.D. No.	 	Tax
I.D. No.	 	 Trade Names
	 	 Chief Executive Office

							
	Radiant Research, Inc.	 	Corporation	 	Delaware	 	4137872	 	20-4642154	 	 Comprehensive Clinical Development
  

Radiant Clinical Research
	 	2141 E. Broadway Rd., Suite 110 Tempe, AZ 85282
							
	River Ventures, LLC	 	Limited liability company	 	North Carolina	 	0717893	 	35-2245090	 		 	929 North Front Street Wilmington, NC 28401-3331
							
	 WILDCAT
 ACQUISITION

HOLDINGS (UK)
 LIMITED
	 	Private limited company	 	England and Wales	 	7832973	 	98-1025837	 		 	 Granta Park,
 Great Abington,

Cambridge,
 CB21 6GQ

United Kingdom

							
	X-Chem, Inc.	 	Corporation	 	Delaware	 	4768279	 	30-0596178	 		 	100 Beaver Street, Suite 101 Waltham, MA 02453

 Changes in Name, Location, Chief Executive Office, Organization Type, Jurisdiction of Organization,
Organizational Identification 
 Number or Taxpayer Identification Number Within the Last Five Years 

 

					
	 Grantor
	  	 Former Legal Name and Date of Change
	  	 Former Chief Executive Address and

Date of Change

	Pharmaceutical Product Development, LLC	  	Pharmaceutical Product Development, Inc.	  	January 31, 2012
			
	PPD Development, L.P.	  	PPD Development, LLC	  	December 27, 2013
	  	 PPD Development, LP
	  	 February 1, 2012

 Schedule II 

to the Security Agreement 

Pledged Interests 
 Pledged
Equity 
  

											
	 Grantor
	  	 Issuer
	  	 Class of

Equity

Interest
	  	 Certificate

No(s)
	  	 Number of Shares
	  	 Percentage Pledged

						
	Applied Bioscience International, LLC	  	PPD Holdings, LLC	  	Membership Interests	  	Uncertificated	  	N/A	  	100
						
	Applied Bioscience International, LLC	  	PPD GP, LLC	  	Membership Interests	  	Uncertificated	  	N/A	  	100
						
	Applied Bioscience International, LLC	  	PPD Argentina, S.A.	  	Common Stock	  	Uncertificated	  	N/A	  	5
						
	Applied Bioscience International, LLC	  	PPD International Holdings, Inc. y Compania Limitada	  	Membership Interests	  	Uncertificated	  	N/A	  	1
						
	Applied Bioscience International, LLC	  	PPD (Guatemala), S.A.	  	Common Stock	  	0002	  	5	  	1
						
	Applied Bioscience International, LLC	  	PPD Development (HK) Limited	  	Ordinary Shares	  	Uncertificated	  	N/A	  	50
						
	Applied Bioscience International, LLC	  	PPD Peru S.A.C.	  	Ordinary Shares	  	Uncertificated	  	N/A	  	0.1
						
	Clinical Research Advantage, Inc.	  	CNS Research Science, Inc.	  	Common Stock	  	1	  	100	  	100
						
	Clinical Research Advantage, Inc.	  	Innova Holdings, Inc.	  	Common Stock	  	3	  	1,000	  	100
						
	CRA Intermediate Holdings, Inc.	  	Clinical Research Advantage, Inc.	  	Series A Convertible Preferred	  	PSA-14	  	32,500,000	  	100
	  	  
 Common Stock
	  	  
 C-36
	  	  
 19,500,000
	  	  
 100

						
	Innova Holdings, Inc.	  	Radiant Research, Inc.	  	Common Stock	  	2	  	1,000	  	100
						
	Jaguar Holding Company I	  	Jaguar Holding Company II	  	Common Stock	  	1	  	1,000	  	100
						
	Jaguar Holding Company II	  	Jaguar Cayman Finance Limited	  	Capital	  	Uncertificated	  	N/A	  	100
						
	Jaguar Holding Company II	  	WILDCAT ACQUISITION HOLDINGS (UK) LIMITED	  	Ordinary Shares	  	4	  	100	  	100

											
	 Grantor
	  	 Issuer
	  	 Class of

Equity

Interest
	  	 Certificate

No(s)
	  	 Number of Shares
	  	 Percentage Pledged

						
	Pharmaceutical Product Development, LLC	  	CRA Intermediate Holdings, Inc.	  	Common Stock	  	2	  	100	  	100
						
	Pharmaceutical Product Development, LLC	  	PPD Global Central Labs, LLC	  	Membership Interest	  	Uncertificated	  	N/A	  	100
						
	Pharmaceutical Product Development, LLC	  	PPD Investigator Services, LLC	  	Membership Interest	  	Uncertificated	  	N/A	  	100
						
	Pharmaceutical Product Development, LLC	  	Applied Bioscience International, LLC	  	Membership Interest	  	Uncertificated	  	N/A	  	100
						
	Pharmaceutical Product Development, LLC	  	PPD Vaccines and Biologics, LLC	  	Membership Interest	  	Uncertificated	  	N/A	  	100
						
	Pharmaceutical Product Development, LLC	  	X-Chem, Inc.	  	Common Stock	  	18	  	6,654,104	  	100
						
	Pharmaceutical Product Development, LLC	  	PPD Services, Inc.	  	Common Stock	  	2	  	1,000	  	100
						
	Pharmaceutical Product Development, LLC	  	PPD do Brasil- Suporte a Pesquisa Clinica Ltda.	  	Common Stock	  	Uncertificated	  	N/A	  	0.01
						
	PPD Development, L.P.	  	Acurian, Inc.	  	Common Stock	  	CS-2	  	1,000	  	100
						
	PPD Development, L.P.	  	PPD AERONAUTICS, LLC	  	Membership Interest	  	Uncertificated	  	N/A	  	100
						
	PPD Development, L.P.	  	ABPI Finance Corporation	  	Common Stock	  	5	  	65	  	65
						
	PPD Development, L.P.	  	PPD International Holdings, LLC	  	Membership Interest	  	Uncertificated	  	N/A	  	65
						
	PPD Development, L.P.	  	Pharmaco Investments, Inc.	  	Common Stock	  	5	  	1,000	  	100
						
	PPD Development, L.P.	  	ATP, LLC	  	Membership Interest	  	Uncertificated	  	N/A	  	100
						
	PPD Development, L.P.	  	River Ventures, LLC	  	Membership Interest	  	Uncertificated	  	N/A	  	100
						
	PPD Development, L.P.	  	Pharmaceutical Product Development Spain S.L.	  	Ordinary Shares	  	Uncertificated	  	N/A	  	0.763

											
	 Grantor
	  	 Issuer
	  	 Class of

Equity

Interest
	  	 Certificate

No(s)
	  	 Number of Shares
	  	 Percentage Pledged

	PPD Development, L.P.	  	PPD Mexico, S.A. de C.V.	  	Common Stock	  	Uncertificated	  	N/A	  	0.01
						
	PPD GP, LLC	  	PPD Development, L.P.	  	Partnership Interest	  	Uncertificated	  	N/A	  	0.1
						
	PPD Holdings, LLC	  	PPD Development, L.P.	  	Partnership Interest	  	Uncertificated	  	N/A	  	99.9
						
	WILDCAT ACQUISITION HOLDINGS (UK) LIMITED	  	Pharmaceutical Product Development, LLC	  	Membership Units	  	1	  	100	  	100

 Pledged Debt 
  

	 	1.	 Loan Note Instrument in the amount of $1,450,000,000, dated December 5, 2011, issued by WILDCAT
ACQUISITION HOLDINGS (UK) LIMITED to Jaguar Cayman Finance Limited. 

  

	 	a.	 Certificate No. 1 issued thereunder: $1,450,000,000 

 

	 	b.	 Certificate No. 2 issued thereunder: $30,000,000 

 

	 	c.	 Certificate No. 3 issued thereunder: $31,375,000 

 

	 	2.	 Loan Note Instrument in the amount of $575,000,000, dated December 5, 2011, issued by WILDCAT ACQUISITION
HOLDINGS (UK) LIMITED to Jaguar Cayman Finance Limited. 

  

	 	a.	 Certificate No. 1 issued thereunder: $575,000,000 

 

	 	b.	 Certificate No. 2 issued thereunder: $54,774,657 

 

	 	c.	 Certificate No. 3 issued thereunder: $54,625,000 

 Schedule III 

to the Security Agreement 

Patents, Trademarks and Copyrights 

Patents 
  

	I.	 Registered Patents 

 

							
	 Owner
	  	Registration
Number	 	  	 Expiration Date

	 Pharmaceutical Product Development, LLC
	  	 	7,934,434 B2	 	  	Sept. 27, 2029
	 PPD Development, L.P.
	  	 	6,507,829	 	  	Jan. 17, 2020
	 Pharmaco Investments, Inc.
	  	 	8,790,599	 	  	Jul. 14, 2031
	 Pharmaco Investments, Inc. and Duke University
	  	 	6,191,147	 	  	Nov. 15, 2019
	 Pharmaco Investments, Inc.
	  	 	6,649,638	 	  	Aug. 14, 2022
	 Pharmaco Investments, Inc.
	  	 	6,664,277	 	  	Aug. 14, 2022
	 Pharmaco Investments, Inc.
	  	 	7,112,596	 	  	Aug. 14, 2022
	 Pharmaco Investments, Inc.
	  	 	7,501,444	 	  	Nov. 19, 2022
	 Pharmaco Investments, Inc.
	  	 	7,501,446	 	  	Aug. 14, 2022
	 Pharmaco Investments, Inc.
	  	 	8,669,253	 	  	Mar. 14, 2029

  

	II.	 Patent Applications 

 

							
	 Owner
	  	Application
Number	 	  	 Expiration Date

	 X-Chem, Inc.
	  	 	61/152,508	 	  	N/A
	 X-Chem, Inc.
	  	 	13/147,910	 	  	N/A
	 X-Chem, Inc.
	  	 	61/531,820	 	  	N/A
	 X-Chem, Inc.
	  	 	61/536,929	 	  	N/A
	 X-Chem, Inc.
	  	 	14/343,306	 	  	N/A
	 X-Chem, Inc.
	  	 	61/584,593	 	  	N/A
	 X-Chem, Inc.
	  	 	61/584,569	 	  	N/A
	 X-Chem, Inc.
	  	 	61/671,406	 	  	N/A
	 X-Chem, Inc.
	  	 	14/370,854	 	  	N/A
	 X-Chem, Inc.
	  	 	61/715,116	 	  	N/A
	 X-Chem, Inc.
	  	 	14/370,879	 	  	N/A
	 X-Chem, Inc.
	  	 	61/901,899	 	  	N/A
	 X-Chem, Inc.
	  	 	62/043,275	 	  	N/A
	 X-Chem, Inc.
	  	 	14/414,326	 	  	N/A
	 X-Chem, Inc.
	  	 	62/098,037	 	  	N/A

 Trademarks 
  

	III.	 Registered Trademarks 

 

							
	 Owner
	  	 Mark
	  	 Registration Number
	  	 Expiration Date

				
	Clinical Research Advantage, Inc.	  	CLINICAL RESEARCH ADVANTAGE	  	3637316	  	Jun. 16, 2019
				
	Clinical Research Advantage, Inc.	  	CLINICAL RESEARCH ADVANTAGE	  	3597155	  	Mar. 31, 2019
				
	CNS Research Science, Inc.	  	CNS	  	3431297	  	May 20, 2018
				
	CNS Research Science, Inc.	  	CNS	  	3431298	  	May 20, 2018
				
	CNS Research Science, Inc.	  	CNS	  	3431299	  	May 20, 2018
				
	CNS Research Science, Inc.	  	CNS	  	3431300	  	May 20, 2018
				
	CNS Research Science, Inc.	  	CNS COMPREHENSIVE NEUROSCIENCE	  	3966684	  	Aug. 24, 2021
				
	CNS Research Science, Inc.	  	CNS COMPREHENSIVE NEUROSCIENCE	  	3962188	  	May 17, 2021
				
	CNS Research Science, Inc.	  	CNS COMPREHENSIVE NEUROSCIENCE	  	3962189	  	May 17, 2021
				
	CNS Research Science, Inc.	  	CNS COMPREHENSIVE NEUROSCIENCE	  	3962190	  	May 17, 2021
				
	CNS Research Science, Inc.	  	CNS COMPREHENSIVE NEUROSCIENCE	  	3966685	  	May 24, 2021
				
	CNS Research Science, Inc.	  	CNS COMPREHENSIVE NEUROSCIENCE	  	4084213	  	Jan. 10, 2022
				
	CNS Research Science, Inc.	  	CNS COMPREHENSIVE NEUROSCIENCE	  	3449533	  	Jun. 17, 2018
				
	CNS Research Science, Inc.	  	CNS COMPREHENSIVE NEUROSCIENCE	  	3449534	  	Jun. 17, 2018
				
	CNS Research Science, Inc.	  	CNS COMPREHENSIVE NEUROSCIENCE	  	3449535	  	Jun. 17, 2018
				
	CNS Research Science, Inc.	  	CNS COMPREHENSIVE NEUROSCIENCE	  	3449536	  	Jun. 17, 2018
				
	CNS Research Science, Inc.	  	COMPREHENSIVE CLINICAL DEVELOPMENT	  	4156802	  	Jun. 12, 2022
				
	CNS Research Science, Inc.	  	COMPREHENSIVE CLINICAL DEVELOPMENT	  	4156803	  	Jun. 12, 2022
				
	CNS Research Science, Inc.	  	COMPREHENSIVE CLINICAL DEVELOPMENT	  	4156804	  	Jun. 12, 2022

							
	 Owner
	  	 Mark
	  	 Registration Number
	  	 Expiration Date

				
	CNS Research Science, Inc.	  	COMPREHENSIVE CLINICAL DEVELOPMENT	  	4155886	  	Jun. 5, 2022
				
	CNS Research Science, Inc.	  	COMPREHENSIVE CLINICAL DEVELOPMENT	  	4148011	  	May 22, 2022
				
	CNS Research Science, Inc.	  	COMPREHENSIVE CLINICAL DEVELOPMENT	  	4155887	  	Jun. 5, 2022
				
	CNS Research Science, Inc.	  	COMPREHENSIVE NEUROSCIENCE	  	3500478	  	Sep. 9, 2018
				
	CNS Research Science, Inc.	  	COMPREHENSIVE NEUROSCIENCE	  	3500479	  	Sep. 9, 2018
				
	CNS Research Science, Inc.	  	COMPREHENSIVE NEUROSCIENCE	  	3500480	  	Sep. 9, 2018
				
	CNS Research Science, Inc.	  	COMPREHENSIVE NEUROSCIENCE	  	3500781	  	Sep. 9, 2018
				
	CNS Research Science, Inc.	  	COMPREHENSIVE NEUROSCIENCE	  	3500482	  	Sep. 9, 2018
				
	CNS Research Science, Inc.	  	COMPREHENSIVE NEUROSCIENCE	  	3500483	  	Sep. 8, 2018
				
	Radiant Research, Inc.	  	RADIANT RESEARCH	  	2511395	  	Nov. 27, 2021
				
	Pharmaco Investments, Inc.	  	“CG++”	  	2,136,203	  	Feb. 10, 2018
				
	Pharmaco Investments, Inc.	  	“CROSSGRAPHS”	  	2,084,758	  	July 29, 2017
				
	Pharmaco Investments, Inc.	  	“PPD” (Word Mark)	  	2,435,414	  	Mar. 13, 2021
				
	Pharmaco Investments, Inc.	  	“PPD”	  	2,332,213	  	Mar. 21, 2020
				
	Pharmaco Investments, Inc.	  	“PPD QUERYDIRECT”	  	2,644,316	  	Oct. 29, 2022
				
	Pharmaco Investments, Inc.	  	“TABLETRANS”	  	2,179,522	  	Aug. 4, 2018
				
	Pharmaco Investments, Inc.	  	“PRECLARUS”	  	4,573,756	  	Jul. 22, 2024
				
	Acurian, Inc.	  	“ACURIAN RECRUITMENT MANAGER”	  	3,971,039	  	May 31, 2021
				
	Acurian, Inc.	  	“YOUR PATIENTS HOLD THE PROMISE FOR TOMORROW’S CURES”	  	3,723,631	  	Dec. 8, 2019
				
	Acurian, Inc.	  	“CLICK IT FORWARD”	  	3,819,261	  	Jul. 13, 2020
				
	Acurian, Inc.	  	“ACURIAN” (Plus Design)	  	2,697,439	  	Mar. 18 2023
				
	Acurian, Inc.	  	“ACURIAN”	  	2,566,246	  	Apr. 30, 2022
				
	Acurian, Inc.	  	“ACURIAN HEALTH”	  	4,411,824	  	Oct. 1, 2023
				
	Acurian, Inc.	  	[LOGO]

	  	4,429,550	  	Nov. 5, 2023
				
	Acurian, Inc.	  	“ACURIAN RETENTION MANAGER”	  	4,621,574	  	Oct. 14, 2024

	IV.	 Trademark Applications 

 

							
	 Owner
	  	 Mark
	  	 Application Number
	  	 Expiration Date

	Pharmaco Investments, Inc.	  	“TRIMENTUM”	  	86303607	  	N/A

 Copyrights 
  

	V.	 Registered Copyrights 

 

							
	 Owner
	  	 Full Title
	  	 Registration Number
	  	 Registration Date

	PPD Development, L.P.	  	PPD Clinical Foundation Program, Volumes I and II, Training Materials, Version February 2009	  	TXu001615996	  	May 14, 2009
				
	PPD Development, L.P.	  	Richmond Labs User Guide	  	TXu001060523	  	March 29, 2002

 Domain Names 

 

	VI.	 Domain Names 

  

			
	 Domain Name
	  	 Registrar

	afrezzaremssurvey.com	  	Network Solutions
	btodrems.com	  	Network Solutions
	btodrems.info	  	Network Solutions
	btodrems.net	  	Network Solutions
	btodrems.org	  	Network Solutions
	btodremspatientssurveys.com	  	Network Solutions
	btodremsprescriberssurveys.com	  	Network Solutions
	clinicalresearchonline.net	  	Network Solutions
	clinicalresearchtrials.net	  	Network Solutions
	clinicalsolutionsnetwork.com	  	Network Solutions
	clinicaltrial.com	  	Network Solutions
	clinicaltrial.net	  	Network Solutions
	clinicaltrials.com	  	Network Solutions
	clinicaltrialsolutions.net	  	Network Solutions
	clinicaltrialsusa.com	  	Network Solutions
	clinicaltrialsusa.net	  	Network Solutions
	clinicaltrialusa.net	  	Network Solutions
	clinicaltrialweek.com	  	Network Solutions

			
	clinicaltrialweek.net	  	Network Solutions
	clinicaltrialworld.com	  	Network Solutions
	clinicaltrialworld.net	  	Network Solutions
	clinicaltrialz.com	  	Network Solutions
	clinicaltrialz.net	  	Network Solutions
	crohnsregistry.org	  	Network Solutions
	doyourpartsurvey.com	  	Network Solutions
	druginfo.com	  	Network Solutions
	farydakremssurvey1.com	  	Network Solutions
	farydakremssurvey2.com	  	Network Solutions
	farydakremssurveys.com	  	Network Solutions
	importantcliinicaltrials.com	  	Network Solutions
	importantcliinicaltrials.net	  	Network Solutions
	importantclinicaltrials.com	  	Network Solutions
	importantclinicaltrials.net	  	Network Solutions
	justclinicaltrials.com	  	Network Solutions
	justclinicaltrials.net	  	Network Solutions
	krystexxasurvey.com	  	Network Solutions
	medcompregnancyregistry2.com	  	Network Solutions
	ppd.com	  	Network Solutions
	ppdesurvey.com	  	Network Solutions
	ppdeventnet.com	  	Network Solutions
	ppdglobalview.com	  	Network Solutions
	ppdi.am	  	Network Solutions
	ppdi.be	  	Network Solutions
	ppdi.biz	  	Network Solutions
	ppdi.br.com	  	Network Solutions
	 ppdi.cn.com
	  	 Network Solutions

	 ppdi.co.uk
	  	 Network Solutions

	 ppdi.com
	  	 Network Solutions

	 ppdi.com.es
	  	 Network Solutions

	 ppdi.com.mx
	  	 Network Solutions

	 ppdi.com.tw
	  	 Network Solutions

	 ppdi.de.com
	  	 Network Solutions

	 ppdi.eu.com
	  	 Network Solutions

	 ppdi.gb.com
	  	 Network Solutions

	 ppdi.in
	  	 Network Solutions

	 ppdi.tv
	  	 Network Solutions

	 ppdi.tw
	  	 Network Solutions

	 ppdi.us
	  	 Network Solutions

	 ppdi.us.com
	  	 Network Solutions

	 ppdi.za.com
	  	 Network Solutions

	 ppdicloud.com
	  	 Network Solutions

	 preclarus.com
	  	 Network Solutions

	 staging-btodremspatientssurveys.com
	  	 Network Solutions

			
	 staging-btodremsprescriberssurveys.com
	  	 Network Solutions

	 topclinicaltrials.com
	  	 Network Solutions

	 topclinicaltrials.net
	  	 Network Solutions

	 ppdi.ch
	  	 SafeNames

	 ppdi.cl
	  	 SafeNames

	 ppdi.co.il
	  	 SafeNames

	 ppdi.com.au
	  	 SafeNames

	 ppdi.cz
	  	 SafeNames

	 ppdi.dk
	  	 SafeNames

	 ppdi.fr
	  	 SafeNames

	 ppdi.gr
	  	 SafeNames

	 ppdi.hk
	  	 SafeNames

	 ppdi.hu
	  	 SafeNames

	 ppdi.it
	  	 SafeNames

	 ppdi.jp
	  	 SafeNames

	 ppdi.kr
	  	 SafeNames

	 ppdi.nl
	  	 SafeNames

	 ppdi.pe
	  	 SafeNames

	 ppdi.pl
	  	 SafeNames

	 ppdi.pt
	  	 SafeNames

	 ppdi.ru
	  	 SafeNames

	 ppdi.se
	  	 SafeNames

	 ppdi.sg
	  	 SafeNames

	 ppdisnbl.com
	  	 SafeNames

	 ppdi-snbl.com
	  	 SafeNames

	 ppdisnbl.jp
	  	 SafeNames

	 ppdi-snbl.jp
	  	 SafeNames

	 ppdsnbl.co.jp
	  	 SafeNames

	 ppdsnbl.jp
	  	 SafeNames

	 ppd-snbl.jp
	  	 SafeNames

 Schedule IV 

to the Security Agreement 

Commercial Tort Claims 
 None. 

 Schedule V 

to the Security Agreement 

Equipment and Inventory 
  

							
	 Grantor
	  	 Mailing Address
	  	 County
	  	 State

				
	Acurian, Inc.	  	 2 Walnut Grove Drive
 Suite 375

Horsham, PA 19044
	  	Montgomery	  	PA
				
	ATP, LLC	  	 5150 McCrimmon Parkway
 Suite 411

Morrisville, NC 27560-7200
	  	Wake	  	NC
				
		  	 929 North Front Street
 Wilmington, NC
28401-3331
	  	New Hanover	  	NC
				
	Applied Bioscience International, LLC	  	 929 North Front Street
 Wilmington, NC
28401-3331
	  	New Hanover	  	NC
				
	Clinical Research Advantage, Inc.	  	 2141 East Broadway Road
 Tempe, AZ
85282
	  	Maricopa	  	AZ
				
		  	 11080 East Artesia Blvd, A,
 Cerritos, CA
90703
	  	Los Angeles County	  	CA
				
		  	 80-15 164th Street, 1st Floor,

Jamaica, NY 11432
	  	Queens County	  	NY
				
		  	 4228 Wisconsin Ave NW,
 Washington, DC
20016
	  	N/A	  	D.C.
				
		  	 6065 Roswell Road, Suite 820,
 Atlanta, GA
30328
	  	Fulton County	  	GA
				
	CNS Research Science, Inc.	  	 2141 East Broadway Road
 Tempe, AZ
85282
	  	Maricopa	  	AZ
				
		  	 1455 West Chandler Blvd, A1,
 Chandler, AZ
85224
	  	Maricopa	  	AZ
				
		  	 5620 West Thunderbird Road, G2,
 Glendale, AZ
85306
	  	Maricopa	  	AZ
				
		  	 1840 East Baseline Road, C2,
 Tempe, AZ
85283
	  	Maricopa	  	AZ
				
		  	 9150 West Indian School Road, #
 118 Phoenix, AZ
85037
	  	Maricopa	  	AZ
				
		  	 7600 N 15th Street, 190,
 Phoenix, AZ
85020
	  	Maricopa	  	AZ
				
		  	 4350 East Camelback Rd, F150,
 Phoenix,
AZ
	  	Maricopa	  	AZ
				
		  	 726 North Greenfield Road, 110,
 Gilbert, AZ
85234
	  	Maricopa	  	AZ

							
	 Grantor
	  	 Mailing Address
	  	 County
	  	 State

				
		  	2310 East Brown Rd, Mesa, AZ 85213	  	Maricopa	  	AZ
				
		  	 2905 West Warner Rd, 25,
 Chandler, AZ
85224
	  	Maricopa	  	AZ
				
		  	5151 East Broadway Rd, 107, Mesa, AZ 85206	  	Maricopa	  	AZ
				
		  	 6301 Mountain Vista Street, 108,
 Henderson, NV
89014
	  	Clark County	  	NV
				
		  	 2629 West Horizon Ridge Pkwy,
 130, Henderson,
NV 89052
	  	Clark County	  	NV
				
		  	 2481 Professional Court, Las Vegas,
 NV
89128
	  	Clark County	  	NV
				
		  	8258 Hascall St, Omaha, NE	  	Douglas County	  	NV
				
		  	201 Ridge Street, 201, Council Bluffs, IA 51503	  	Pottawattamie County	  	IA
				
		  	 2405 Research Parkway,
 Colorado Springs, CO
80920
	  	El Paso County	  	CO
				
		  	 6340 Barnes Road,
 Colorado Springs, CO
80922
	  	El Paso County	  	CO
				
		  	 2610 Tenderfoot Hills Street, 102,
 Colorado
Springs, CO 80906
	  	El Paso County	  	CO
				
		  	145 Thunder Drive, Vista, CA 92083	  	Rio Grande County	  	CO
				
		  	2562 State Street, D, Carlsbad, CA 92008	  	San Diego County	  	CA
				
		  	 991 South Kenmore Drive,
 Evansville, IN
47714
	  	Vanderburgh County	  	IN
				
		  	 3501 Washington Ave,
 Evansville, IN
47714
	  	Vanderburgh County	  	IN
				
		  	 832 Princeton Ave SW,
 Birmingham, AL
35211
	  	Jefferson County	  	AL
				
		  	 2000 East Greenville Street, 1600,
 Anderson, SC
29621
	  	Anderson County	  	SC
				
		  	 3440 DePaul Lane,
 Bridgeton, MO 63044
	  	St. Louis County	  	MO
				
		  	 2230 South Fraser Street, Unit 1,
 Denver, CO
80014
	  	Arapahoe	  	CO
				
		  	 7030 S Yosemite St, 210,
 Centennial, CO
80112
	  	Arapahoe	  	CO
				
		  	 1455 West Chandler Blvd, A1,
 Chandler, AZ
85224
	  	Maricopa	  	AZ
				
		  	 5620 West Thunderbird Road, G2,
 Glendale, AZ
85306
	  	Maricopa	  	AZ

							
	 Grantor
	  	 Mailing Address
	  	 County
	  	 State

				
		  	 1840 East Baseline Road, C2,
 Tempe, AZ
85283
	  	Maricopa	  	AZ
				
		  	 9150 West Indian School Road, #
 118 Phoenix, AZ
85037
	  	Maricopa	  	AZ
				
		  	 7600 N 15th Street, 190,
 Phoenix, AZ
85020
	  	Maricopa	  	AZ
				
	Innova Holdings, Inc.	  	 2141 East Broadway Road
 Tempe, AZ
85282
	  	Maricopa	  	AZ
				
	Jaguar Cayman Finance Limited	  	 Walker House, 87 Mary Street Georgetown
 Grand
Cayman KY1-9005 Cayman Islands
	  	N/A	  	N/A
				
	Jaguar Holding Company I	  	 929 North Front Street
 Wilmington, NC
28401-3331
	  	New Hanover	  	NC
				
	Jaguar Holding Company II	  	 929 North Front Street
 Wilmington, NC
28401-3331
	  	New Hanover	  	NC
				
	Pharmaceutical Product Development, LLC	  	 929 North Front Street
 Wilmington, NC
28401-3331
	  	New Hanover	  	NC
				
	Pharmaco Investments, Inc.	  	 929 North Front Street
 Wilmington, NC
28401-3331
	  	New Hanover	  	NC
				
	PPD AERONAUTICS, LLC	  	 1831 Hewlett Drive
 Wilmington, NC
28405-8660
	  	New Hanover	  	NC
				
	PPD Development, L.P.	  	 929 North Front Street
 Wilmington, NC
28401-3331
	  	New Hanover	  	NC
				
		  	 2240, 2244 & 2246 Dabney Road
 Richmond, VA
23230-3323
	  	Henrico	  	VA
				
		  	 2245 Dabney Road
 Suite 245

Richmond, VA 23230
	  	Henrico	  	VA
				
		  	 2248 Dabney Road
 Suites A-N
 Richmond, VA 23230-3323
	  	Henrico	  	VA
				
		  	 2200-2224 Tomlynn Street
 Suites 2200-2216

Richmond, VA 23230-333
	  	Henrico	  	VA
				
		  	 5516 Falmouth Street, #301ABC
 Richmond, VA
23230
	  	Henrico	  	VA
				
		  	 3230 Deming Way
 Middleton, WI
53562-1475
	  	Dane	  	WI
				
		  	 8500 Research Way
 Middleton, WI
53562-4663
	  	Dane	  	WI
				
		  	 8551 Research Way
 Middleton, WI
53562-4663
	  	Dane	  	WI

							
	 Grantor
	  	 Mailing Address
	  	 County
	  	 State

				
		  	 8556 Research Way, Suite 90
 Middleton, WI
53562-4663
	  	Dane	  	WI
				
		  	 1600 Aspen Commons, Suite 500
 Middleton, WI
53562
	  	Dane	  	WI
				
		  	 Sorrento South Corporate Center 9330 Scranton Road,

Suite 200 San Diego, CA 92121
	  	San Diego	  	CA
				
		  	2400 Research Boulevard, Suite 200 Rockville, MD 20850	  	Montgomery	  	MD
				
		  	The Neuman Building 3575 Quakerbridge Rd., Suite 201 Hamilton, NJ 08619	  	Hamilton	  	NJ
				
		  	 5150 McCrimmon Parkway
 Suite 411 Morrisville,
NC 27560-7200
	  	Wake	  	NC
				
		  	 3900 North Paramount Parkway Morrisville,
 NC
27560-7200
	  	Wake	  	NC
				
		  	 3900 South Paramount Parkway Morrisville,
 NC
27560-7200 (Portions of the Building)
	  	Wake	  	NC
				
		  	 1400 Perimeter Park Drive Morrisville,
 NC
27560-7200
	  	Wake	  	NC
				
		  	 1800 Perimeter Park Drive Suite 275

Morrisville, NC 27560-7200
	  	Wake	  	NC
				
		  	 980 Harvest Drive
 Suites 110, 130

and 210 Blue Bell, PA 19422-1955
	  	Montgomery	  	PA
				
		  	7551 Metro Center Drive, Suite 200 Austin, TX 78744	  	Travis	  	TX
				
		  	7901 E. Riverside Drive, Building One Austin, TX 78744	  	Travis	  	TX
				
		  	 Fleming House
 Phoenix Crescent

Strathclyde Business Park
 Belshill, Lanarkshire

ML4 3NJ UK
	  	N/A	  	N/A
				
		  	 Fleming House II
 Phoenix Crescent

Strathclyde Business Park
 Belshill, Lanarkshire

ML4 3NJ UK
	  	N/A	  	N/A

							
	 Grantor
	  	 Mailing Address
	  	 County
	  	 State

				
		  	 Kleine Kloosterstraat 19
 1932 St. Stevens
Woluwe
 Brussels
 Belgium
	  	N/A	  	N/A
				
	PPD Global Central Labs, LLC	  	 929 North Front Street
 Wilmington, NC
28401-3331
	  	New Hanover	  	NC
				
		  	2 Tesseneer Drive	  	Campbell	  	KY
		  	Highland Heights, KY 41076-9167	  		  	
				
	PPD GP, LLC	  	 929 North Front Street
 Wilmington, NC
28401-3331
	  	New Hanover	  	NC
				
	PPD Holdings, LLC	  	 929 North Front Street
 Wilmington, NC
28401-3331
	  	New Hanover	  	NC
				
	PPD Investigator Services, LLC	  	 929 North Front Street
 Wilmington, NC
28401-3331
	  	New Hanover	  	NC
				
	PPD Services, Inc.	  	 929 North Front Street
 Wilmington, NC
28401-3331
	  	New Hanover	  	NC
				
	PPD Vaccines and Biologics, LLC	  	 929 North Front Street
 Wilmington, NC
28401-3331
	  	New Hanover	  	NC
	  	 466 Devon Park Drive
 Wayne, PA
19087-1816
	  	Delaware	  	PA
				
	Radiant Research, Inc.	  	 2141 East Broadway Road
 Tempe, AZ
85282
	  	Maricopa	  	AZ
				
		  	 11661 College Blvd
 Overland Park, KS
66210
	  	Johnson County	  	KS
				
		  	 4720 Hoen Ave
 Santa Rosa, CA 95405
	  	Sonoma County	  	CA
				
		  	 7700 France Avenue South
 Suite 100

Edina, MN 55435
	  	Hennepin County	  	MN
				
		  	 530 S. Main St., Suite 1712
 Akron OK
44311
	  	Summit County	  	OH
				
		  	 7555 E. Osborn Road, Suite 200
 Scottsdale, AZ
85251
	  	Maricopa	  	AZ
				
		  	 7331 E. Osborn Road, Suite 180
 Scottsdale,
Arizona 85251
	  	Maricopa	  	AZ
				
		  	 11500 Northlake Drive, Suite 320
 Cincinnati, OH
45249
	  	Hamilton County	  	OH
				
		  	 1275 Olentangy River Rd.
 Suite 202

Columbus, OH 43212
	  	 Franklin County
	  	 OH

				
		  	 522 Memorial Drive
 Greer, SC 29651
	  	Spartanburg County	  	SC

							
	 Grantor
	  	 Mailing Address
	  	 County
	  	 State

				
		  	 1657 E. Greenville St. Anderson,
 SC
29621
	  	Anderson County	  	SC
				
		  	 7515 Greenville Ave, Suite 500
 Dallas, TX
75231
	  	Dallas	  	TX
				
		  	 6290 East Grant Road
 Tucson, AZ 85712
	  	Prime County	  	AZ
				
		  	 6010 & 6026 Park Blvd.
 Pinellas Park, FL
33781
	  	Pinellas County	  	FL
				
		  	 675 Old Ballas
 Suite 200

St. Louis, MO 63141
	  	St. Louis County	  	MO
				
		  	 515 N. State Street 2700
 Chicago, IL
60654
	  	Cook County	  	IL
				
		  	 2081 W. Frye Rd, Suite 208
 Chandler, AZ
85224
	  	Maricopa	  	AZ
				
		  	 5251 South Green Street
 Suite 300, Murray, UT
84123
	  	Salt Lake County	  	UT
				
		  	 8122 Datapoint Drive
 Suite 1010

San Antonio, TX 78229
	  	Bexar County	  	TX
				
		  	 7250 France Avenue South,
 Suites 416 &
417
 Edina, MN 55435
	  	Hennepin County	  	MN
				
	River Ventures, LLC	  	 929 North Front Street
 Wilmington, NC
28401-3331
	  	New Hanover	  	NC
				
	WILDCAT ACQUISITION HOLDINGS (UK) LIMITED	  	 Granta Park,
 Great Abington,

Cambridge,
 CB21 6GQ

United Kingdom
	  	N/A	  	N/A
				
	X-Chem, Inc.	  	 100 Beaver Street, Suite 101
 Waltham, MA
02453
	  	Middlesex	  	MA

 Exhibit A to the 

Security Agreement 
 FORM
OF SECURITY AGREEMENT SUPPLEMENT 
 [Date of Security Agreement Supplement] 

Credit Suisse AG, Cayman Islands Branch, 
 as the Collateral
Agent for the 
 Secured Parties referred to in the 
 Credit
Agreement referred to below 
 Eleven Madison Avenue 
 5th
Floor 
 New York, NY 10010 
 Attn: Nirmala Durgana / Jiana
Ahumada 
 Phone: (212) 538-3525 

Email: list.ops-collateral@credit-suisse.com 

[Name of Additional Grantor] 
 Ladies and
Gentlemen: 
 Reference is made to (i) the Credit Agreement dated as of August 18, 2015 (as it may hereafter be amended, amended
and restated, supplemented, replaced, refinanced or otherwise modified from time to time, the “Credit Agreement”) among JAGUAR HOLDING COMPANY II, a Delaware corporation, PHARMACEUTICAL PRODUCT DEVELOPMENT, LLC, a Delaware limited
liability company, JAGUAR HOLDING COMPANY I, a Delaware corporation, CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Administrative Agent, Collateral Agent and L/C Issuer, and the other parties party thereto and (ii) the Security Agreement dated
August 18, 2015 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”), among the Grantors from time to time party thereto and the Collateral Agent. Capitalized terms
defined in the Credit Agreement or the Security Agreement and not otherwise defined herein are used herein as defined in the Credit Agreement or the Security Agreement (and in the event of a conflict, the applicable definition shall be the one given
to such term in the Security Agreement). 
 Section 1. Grant of Security. The undersigned hereby collaterally assigns and
pledges to the Collateral Agent (and its successors and permitted assigns), for the benefit of the Secured Parties, and the undersigned hereby grants to the Collateral Agent (and its successors and permitted assigns), for the benefit of the Secured
Parties, a security interest in, all of its right, title and interest in and to all of the Collateral of the undersigned (including all Accounts, cash and Cash Equivalents, Chattel Paper, Commercial Tort Claims set forth on Schedule IV of the
Security Agreement (as supplemented), Deposit Accounts, Documents, Equipment, Fixtures (subject to Section 21 of the Security Agreement), General Intangibles, Goods, Instruments, Inventory, Letter-of-Credit Rights, Security Collateral, Agreement Collateral, Intellectual Property Collateral, and the other Collateral referred to in clauses (q), (r) and (s) of Section 1 of the Security
Agreement), except for any Excluded Assets, whether now owned or hereafter acquired by the undersigned, wherever located and whether now or hereafter existing or arising, including, without limitation, the property and assets of the undersigned set
forth on the attached supplemental schedules to the Schedules to the Security Agreement. 

 Section 2. Security for Obligations. The grant of a security interest in the
Collateral by the undersigned under this Security Agreement Supplement and the Security Agreement secures the payment of all Secured Obligations of the undersigned now or hereafter existing under or in respect of the Secured Documents (as such
Secured Documents may be amended, amended and restated, supplemented, replaced, refinanced or otherwise modified from time to time (including any increases of the principal amount outstanding thereunder)), whether direct or indirect, absolute or
contingent, and whether for principal, reimbursement obligations, interest, premiums, penalties, fees, indemnifications, contract causes of action, costs, expenses or otherwise. Without limiting the generality of the foregoing, this Security
Agreement Supplement and the Security Agreement secures the payment of all amounts that constitute part of the Secured Obligations that would be owed by the Grantor to any Secured Party under the Secured Documents but for the fact that they are
unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving a Loan Party. 

Section 3. Supplements to Security Agreement Schedules. The undersigned has attached hereto supplemental Schedules I through V to
Schedules I through V, respectively, to the Security Agreement, and the undersigned hereby certifies, as of the date first above written, that such supplemental schedules have been prepared by the undersigned in substantially the form of the
equivalent Schedules to the Security Agreement and are complete and correct in all material respects. 
 Section 4. Representations
and Warranties. The undersigned hereby makes each representation and warranty set forth in Section 6 of the Security Agreement with respect to itself (as supplemented by the attached supplemental schedules) as of the date hereof. 

Section 5. Obligations Under the Security Agreement. The undersigned hereby agrees, as of the date first above written, to be
bound as a Grantor by all of the terms and provisions of the Security Agreement to the same extent as each of the other Grantors. The undersigned further agrees, as of the date first above written, that each reference in the Security Agreement to an
“Additional Grantor” or a “Grantor” shall also mean and be a reference to the undersigned and that each reference to the “Collateral” or any part thereof shall also mean and be a reference to the undersigned’s
Collateral or part thereof, as the case may be. 
 Section 6. Governing Law; Jurisdiction; Etc. (a) THIS SECURITY AGREEMENT
SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF, BUT INCLUDING SECTION 5-1401 OF THE NEW
YORK GENERAL OBLIGATIONS LAW. 
 (b) EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY,
TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK CITY IN THE BOROUGH OF MANHATTAN AND OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK SITTING IN THE BOROUGH OF MANHATTAN, AND ANY
APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS SECURITY AGREEMENT SUPPLEMENT, 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 SECURITY AGREEMENT SUPPLEMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, THE COLLATERAL AGENT, ANY
LENDER OR ANY L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS SECURITY AGREEMENT SUPPLEMENT OR THE RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT AGAINST ANY LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY
JURISDICTION. 
 (c) EACH PARTY HERETO 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 SECURITY AGREEMENT SUPPLEMENT 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) EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 10.02 OF THE
CREDIT AGREEMENT. NOTHING IN THIS SECURITY AGREEMENT SUPPLEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 

(e) EACH PARTY TO THIS SECURITY AGREEMENT SUPPLEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND,
ACTION OR CAUSE OF ACTION ARISING UNDER THIS SECURITY AGREEMENT SUPPLEMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS SECURITY AGREEMENT SUPPLEMENT, OR THE
TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE
DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS SECURITY AGREEMENT SUPPLEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 6(e) WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER
OF THEIR RIGHT TO TRIAL BY JURY. 

 
			
	Very truly yours,
	
	[NAME OF ADDITIONAL GRANTOR]
		
	By:	 	 
		 	Name:
		 	Title:
		
		 	 Address for notices:

		 	
                      
                                         
 

		 	
                      
                                         
 

		 	
                      
                                         
 

  
 [Signature Page to
Security Agreement Supplement] 

 Exhibit B to the 

Security Agreement 
 FORM
OF INTELLECTUAL PROPERTY SECURITY AGREEMENT 
 This INTELLECTUAL PROPERTY SECURITY AGREEMENT (as amended, amended and restated,
supplemented or otherwise modified from time to time, the “IP Security Agreement”) dated [ ] [ ], 201[], is among the Persons listed on the signature pages hereof (collectively, the “Grantors”) and CREDIT
SUISSE AG, CAYMAN ISLANDS BRANCH, as collateral agent (the “Collateral Agent”) for the Secured Parties (as defined in the Credit Agreement referred to below). 

WHEREAS, Jaguar Holding Company I, a Delaware corporation, Jaguar Holding Company II, a Delaware corporation, and Pharmaceutical Product
Development, LLC, a Delaware limited liability company, have entered into the Credit Agreement dated as of August 18, 2015 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), with the Lenders, the L/C Issuers and the Administrative Agent. Capitalized terms defined in the Credit Agreement or in the Security Agreement (as defined below) and not otherwise defined herein are used herein as defined in
the Credit Agreement or the Security Agreement, as the case may be (and in the event of a conflict, the applicable definition shall be the one given to such term in the Security Agreement). 

WHEREAS, as a condition precedent to the making of the Loans by the Lenders from time to time and the issuance of Letters of Credit by the L/C
Issuers from time to time, the entry into Secured Hedge Agreements by the Hedge Banks from time to time and the entry into Secured Cash Management Agreements by the Cash Management Banks from time to time, each Grantor has executed and delivered
that certain Security Agreement dated August 18, 2015 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”), among the Grantors from time to time party thereto and
the Collateral Agent. 
 WHEREAS, under the terms of the Security Agreement, the Grantors have granted to the Collateral Agent, for the
benefit of the Secured Parties, a security interest in, among other property, certain intellectual property of the Grantors, and have agreed thereunder to execute this IP Security Agreement for recording with the USPTO and/or the USCO, as
applicable. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each
Grantor agrees as follows: 
 Section 1. Grant of Security. Each Grantor hereby collaterally assigns and pledges to the
Collateral Agent (and its successors and permitted assigns), for the benefit of the Secured Parties, and each Grantor hereby grants to the Collateral Agent (and its successors and permitted assigns), for the benefit of the Secured Parties, a
security interest in all of such Grantor’s right, title and interest in and to the following, whether now owned or hereafter acquired by the undersigned (the “Collateral”): 

(i) the patents and patent applications set forth in Schedule A hereto (the “Patents”); 

(ii) the trademark and service mark registrations and applications set forth in Schedule B hereto (provided that no security
interest shall be granted in United States intent-to-use trademark applications to the extent that, and so long as creation of a security interest therein or the
assignment thereof would result in the loss of any material rights therein), together with the goodwill symbolized thereby (the “Trademarks”); 

 (iii) all copyrights, whether registered or unregistered, including, without
limitation, the copyright registrations and applications and exclusive copyright licenses set forth in Schedule C hereto (the “Copyrights”); 

(iv) all reissues, divisions, continuations,
continuations-in-part, extensions, renewals and reexaminations of any of the foregoing, all rights in the foregoing provided by international treaties or conventions,
all rights corresponding thereto throughout the world and all other rights of any kind whatsoever of such Grantor accruing thereunder or pertaining thereto; 

(v) any and all claims for damages and injunctive relief for past, present and future infringement, dilution, misappropriation,
violation, misuse or breach with respect to any of the foregoing, with the right, but not the obligation, to sue for and collect, or otherwise recover, such damages; and 

(vi) any and all proceeds of, collateral for, income, royalties and other payments now or hereafter due and payable with
respect to, and supporting obligations relating to, any and all of the Collateral of or arising from any of the foregoing; 
 provided
that notwithstanding anything to the contrary contained in the foregoing clauses (i) through (vi), the security interest created hereby shall not extend to, and the term “Collateral” shall not include, any Excluded Assets. 

Section 2. Security for Obligations. The grant of a security interest in, the Collateral by each Grantor under this IP Security
Agreement secures the payment of all Secured Obligations of such Grantor now or hereafter existing under or in respect of the Secured Documents (as such Secured Documents may be amended, amended and restated, supplemented, replaced, refinanced or
otherwise modified from time to time (including any increases of the principal amount outstanding thereunder)), whether direct or indirect, absolute or contingent, and whether for principal, reimbursement obligations, interest, premiums, penalties,
fees, indemnifications, contract causes of action, costs, expenses or otherwise. Without limiting the generality of the foregoing, this IP Security Agreement secures, as to each Grantor, the payment of all amounts that constitute part of the Secured
Obligations that would be owed by such Grantor to any Secured Party under the Secured Documents but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, or reorganization or similar proceeding involving a
Loan Party. 
 Section 3. Recordation. Each Grantor authorizes and requests that the Register of Copyrights, the Commissioner
for Patents and the Commissioner for Trademarks record this IP Security Agreement. 
 Section 4. Execution in Counterparts. This
IP Security Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

Section 5. Grants, Rights and Remedies. This IP Security Agreement has been entered into in conjunction with the provisions of the
Security Agreement. Each Grantor does hereby acknowledge and confirm that the grant of the security interest hereunder to, and the rights and remedies of, the Collateral Agent with respect to the Collateral are more fully set forth in the Security
Agreement, the terms and provisions of which are incorporated herein by reference as if fully set forth herein. In the event of any conflict between the terms of this IP Security Agreement and the terms of the Security Agreement, the terms of the
Security Agreement shall govern. 

 Section 6. Governing Law; Jurisdiction; Etc. (a) THIS IP SECURITY AGREEMENT
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF, BUT INCLUDING SECTION 5-1401 OF THE NEW YORK GENERAL
OBLIGATIONS LAW. 
 (b) EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE
EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK CITY IN THE BOROUGH OF MANHATTAN AND OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK SITTING IN THE BOROUGH OF MANHATTAN, AND ANY APPELLATE
COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS IP SECURITY AGREEMENT, 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 IP SECURITY AGREEMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, THE
COLLATERAL AGENT, ANY LENDER OR ANY L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS IP SECURITY AGREEMENT OR THE RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT AGAINST ANY LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF
ANY JURISDICTION. 
 (c) EACH PARTY HERETO 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 IP SECURITY AGREEMENT 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) EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 10.02 OF THE
CREDIT AGREEMENT. NOTHING IN THIS IP SECURITY AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 

(e) EACH PARTY TO THIS IP SECURITY AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR
CAUSE OF ACTION ARISING UNDER THIS IP SECURITY AGREEMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS IP SECURITY AGREEMENT, OR THE TRANSACTIONS RELATED THERETO, IN
EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER 

 
FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT
ANY PARTY TO THIS IP SECURITY AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 6(e) WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 

 IN WITNESS WHEREOF, each Grantor and the Collateral Agent have caused this IP Security
Agreement to be duly executed and delivered by its officer thereunto duly authorized as of the date first written above. 
  

			
	[ONLY TO INCLUDE ENTITIES WHICH OWN IP]
		
	By:	 	 
		 	Name:
		 	Title:

  
 [Signature Page to
Intellectual Property Security Agreement] 

			
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH
	as Collateral Agent
		
	By:	 	 
		 	Name:
		 	Title:
		
	By:	 	 
		 	Name:
		 	Title:

  
 [Signature Page to
Intellectual Property Security Agreement] 

 Exhibit C to the 

Security Agreement 
 FORM
OF INTELLECTUAL PROPERTY AGREEMENT SUPPLEMENT 
 This INTELLECTUAL PROPERTY SECURITY AGREEMENT SUPPLEMENT (this “IP
Security Agreement Supplement”) dated [_________], is made by the Person listed on the signature page hereof (the “Grantor”) in favor of CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as collateral agent (the “Collateral
Agent”) for the Secured Parties (as defined in the Credit Agreement referred to below). 
 WHEREAS, Jaguar Holding Company I, a
Delaware corporation, Jaguar Holding Company II, a Delaware corporation, and Pharmaceutical Product Development, LLC, a Delaware limited liability company, have entered into the Credit Agreement dated as of August 18, 2015 (as amended, amended
and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), with the Lenders, the L/C Issuers and the Administrative Agent. Capitalized terms defined in the Credit Agreement or in the Security
Agreement (as defined below) and not otherwise defined herein are used herein as defined in the Credit Agreement or the Security Agreement, as the case may be (and in the event of a conflict, the applicable definition shall be the one given to such
term in the Security Agreement). 
 WHEREAS, pursuant to the Credit Agreement, the Grantors have executed and delivered or otherwise become
bound by that certain Security Agreement dated August 18, 2015 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”) and that certain Intellectual Property Security
Agreement dated 18, 2015 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “IP Security Agreement”). 

WHEREAS, under the terms of the Security Agreement, the Grantor has agreed to grant to the Collateral Agent, for the benefit of the Secured
Parties, a security interest in any after-acquired intellectual property collateral of the Grantor and has agreed in connection therewith to execute this IP Security Agreement Supplement for recording with the USPTO and/or the USCO, as applicable.

 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Grantor agrees as
follows: 
 Section 1. Grant of Security. Each Grantor hereby collaterally assigns and pledges to the Collateral Agent, for the
benefit of the Secured Parties, and each Grantor hereby grants to the Collateral Agent, for the benefit of the Secured Parties, a security interest in all of such Grantor’s right, title and interest in and to the following (the
“Additional Collateral”): 
 (i) the patents and patent applications set forth in Schedule A hereto (the
“Patents”); 
 (ii) the trademark and service mark registrations and applications set forth in Schedule B
hereto (provided that no security interest shall be granted in United States intent-to-use trademark applications to the extent that, and so long as creation of a
security interest therein or the assignment thereof would result in the loss of any material rights therein), together with the goodwill symbolized thereby (the “Trademarks”); 

(iii) the copyright registrations and applications and exclusive copyright licenses set forth in Schedule C hereto (the
“Copyrights”); 

 (iv) all reissues, divisions, continuations,
continuations-in-part, extensions, renewals and reexaminations of any of the foregoing, all rights in the foregoing provided by international treaties or conventions,
all rights corresponding thereto throughout the world and all other rights of any kind whatsoever of such Grantor accruing thereunder or pertaining thereto; 

(v) any and all claims for damages and injunctive relief for past, present and future infringement, dilution, misappropriation,
violation, misuse or breach with respect to any of the foregoing, with the right, but not the obligation, to sue for and collect, or otherwise recover, such damages; and 

(vi) any and all proceeds of, collateral for, income, royalties and other payments now or hereafter due and payable with
respect to, and supporting obligations relating to, any and all of the foregoing or arising from any of the foregoing; 
 provided
that, notwithstanding anything to the contrary contained in the foregoing clauses (i) through (vi), the security interest created hereby shall not extend to, and the term “Additional Collateral,” shall not include any Excluded Assets.

 Section 2. Supplement to Security Agreement. Schedule III to the Security Agreement is, effective as of the date hereof,
hereby supplemented to add to such Schedule the Additional Collateral. 
 Section 3. Security for Obligations. The grant of a
security interest in the Additional Collateral by the Grantor under this IP Security Agreement Supplement secures the payment of all Secured Obligations of the Grantor now or hereafter existing under or in respect of the Secured Documents (as such
Secured Documents may be amended, amended and restated, supplemented, replaced, refinanced or otherwise modified from time to time (including any increases of the principal amount outstanding thereunder)), whether direct or indirect, absolute or
contingent, and whether for principal, reimbursement obligations, interest, premiums, penalties, fees, indemnifications, contract causes of action, costs, expenses or otherwise. Without limiting the generality of the foregoing, this IP Security
Agreement Supplement secures the payment of all amounts that constitute part of the Secured Obligations that would be owed by the Grantor to any Secured Party under the Secured Documents but for the fact that they are unenforceable or not allowable
due to the existence of a bankruptcy, reorganization or similar proceeding involving a Loan Party. 
 Section 4. Recordation.
The Grantor authorizes and requests that the Register of Copyrights, the Commissioner for Patents and the Commissioner for Trademarks record this IP Security Agreement Supplement. 

Section 5. Grants, Rights and Remedies. This IP Security Agreement Supplement has been entered into in conjunction with the
provisions of the Security Agreement. The Grantor does hereby acknowledge and confirm that the grant of the security interest hereunder to, and the rights and remedies of, the Collateral Agent with respect to the Additional Collateral are more fully
set forth in the Security Agreement, the terms and provisions of which are incorporated herein by reference as if fully set forth herein. In the event of any conflict between the terms of this IP Security Agreement Supplement and the terms of the
Security Agreement, the terms of the Security Agreement shall govern. 
 Section 6. Governing Law; Jurisdiction; Etc.
(a) THIS IP SECURITY AGREEMENT SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF, BUT INCLUDING SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 

 (b) EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF
AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK CITY IN THE BOROUGH OF MANHATTAN AND OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK SITTING IN THE BOROUGH OF
MANHATTAN, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS IP SECURITY AGREEMENT SUPPLEMENT, 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 IP SECURITY AGREEMENT SUPPLEMENT SHALL
AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, THE COLLATERAL AGENT, ANY LENDER OR ANY L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS IP SECURITY AGREEMENT SUPPLEMENT OR THE RECOGNITION OR ENFORCEMENT OF ANY
JUDGMENT AGAINST ANY LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 
 (c) EACH PARTY HERETO 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 IP SECURITY AGREEMENT SUPPLEMENT 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) EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN
SECTION 10.02 OF THE CREDIT AGREEMENT. NOTHING IN THIS IP SECURITY AGREEMENT SUPPLEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 

(e) EACH PARTY TO THIS IP SECURITY AGREEMENT SUPPLEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM,
DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER THIS IP SECURITY AGREEMENT SUPPLEMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS IP SECURITY AGREEMENT SUPPLEMENT,
OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY 

 
SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS IP SECURITY AGREEMENT SUPPLEMENT MAY FILE AN ORIGINAL COUNTERPART OR A
COPY OF THIS SECTION 6(e) WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 

 IN WITNESS WHEREOF, the Grantor has caused this IP Security Agreement Supplement to be duly
executed and delivered by its officer thereunto duly authorized as of the date first written above. 
  

			
	[NAME OF GRANTOR]

 
			
		
	By:	 	 
		 	Name:
		 	Title:

 
			
	
	Address for notices:
	                                    
                                
	                                    
                                
	                                    
                                

  
 [Signature Page to
Intellectual Property Security Agreement Supplement] 

 SECURITY AGREEMENT SUPPLEMENT 

July 1, 2019 
 Credit Suisse AG, Cayman
Islands Branch, 
 as the Collateral Agent for the 
 Secured
Parties referred to in the 
 Credit Agreement referred to below 

Eleven Madison Avenue 
 5th Floor 

New York, NY 10010 
 Attn: Nirmala Durgana / Jiana Ahumada 

Phone: (212) 538-3525 

Email: list.ops-collateral@credit-suisse.com 

OPTIMAL RESEARCH, LLC 
 Ladies and Gentlemen:

 Reference is made to (i) the Credit Agreement dated as of August 18, 2015 (as it may hereafter be amended, amended and
restated, supplemented, replaced, refinanced or otherwise modified from time to time, the “Credit Agreement”) among JAGUAR HOLDING COMPANY II, a Delaware corporation, PHARMACEUTICAL PRODUCT DEVELOPMENT, LLC, a Delaware limited
liability company, JAGUAR HOLDING COMPANY I, a Delaware corporation, CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Administrative Agent, Collateral Agent and L/C Issuer, and the other parties party thereto and (ii) the Security Agreement dated
August 18, 2015 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”), among the Grantors from time to time party thereto and the Collateral Agent. Capitalized terms
defined in the Credit Agreement or the Security Agreement and not otherwise defined herein are used herein as defined in the Credit Agreement or the Security Agreement (and in the event of a conflict, the applicable definition shall be the one given
to such term in the Security Agreement). 
 Section 1. Grant of Security. The undersigned hereby collaterally assigns and
pledges to the Collateral Agent (and its successors and permitted assigns), for the benefit of the Secured Parties, and the undersigned hereby grants to the Collateral Agent (and its successors and permitted assigns), for the benefit of the Secured
Parties, a security interest in, all of its right, title and interest in and to all of the Collateral of the undersigned (including all Accounts, cash and Cash Equivalents, Chattel Paper, Commercial Tort Claims set forth on Schedule IV of the
Security Agreement (as supplemented), Deposit Accounts, Documents, Equipment, Fixtures (subject to Section 21 of the Security Agreement), General Intangibles, Goods, Instruments, Inventory, Letter-of-Credit Rights, Security Collateral, Agreement Collateral, Intellectual Property Collateral, and the other Collateral referred to in clauses (q), (r) and (s) of Section 1 of the Security
Agreement), except for any Excluded Assets, whether now owned or hereafter acquired by the undersigned, wherever located and whether now or hereafter existing or arising, including, without limitation, the property and assets of the undersigned set
forth on the attached supplemental schedules to the Schedules to the Security Agreement. 

 Section 2. Security for Obligations. The grant of a security interest in the
Collateral by the undersigned under this Security Agreement Supplement and the Security Agreement secures the payment of all Secured Obligations of the undersigned now or hereafter existing under or in respect of the Secured Documents (as such
Secured Documents may be amended, amended and restated, supplemented, replaced, refinanced or otherwise modified from time to time (including any increases of the principal amount outstanding thereunder)), whether direct or indirect, absolute or
contingent, and whether for principal, reimbursement obligations, interest, premiums, penalties, fees, indemnifications, contract causes of action, costs, expenses or otherwise. Without limiting the generality of the foregoing, this Security
Agreement Supplement and the Security Agreement secures the payment of all amounts that constitute part of the Secured Obligations that would be owed by the Grantor to any Secured Party under the Secured Documents but for the fact that they are
unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving a Loan Party. 

Section 3. Supplements to Security Agreement Schedules. The undersigned has attached hereto supplemental Schedules I through V to
Schedules I through V, respectively, to the Security Agreement, and the undersigned hereby certifies, as of the date first above written, that such supplemental schedules have been prepared by the undersigned in substantially the form of the
equivalent Schedules to the Security Agreement and are complete and correct in all material respects. 
 Section 4. Representations
and Warranties. The undersigned hereby makes each representation and warranty set forth in Section 6 of the Security Agreement with respect to itself (as supplemented by the attached supplemental schedules) as of the date hereof. 

Section 5. Obligations Under the Security Agreement. The undersigned hereby agrees, as of the date first above written, to be
bound as a Grantor by all of the terms and provisions of the Security Agreement to the same extent as each of the other Grantors. The undersigned further agrees, as of the date first above written, that each reference in the Security Agreement to an
“Additional Grantor” or a “Grantor” shall also mean and be a reference to the undersigned and that each reference to the “Collateral” or any part thereof shall also mean and be a reference to the undersigned’s
Collateral or part thereof, as the case may be. 
 Section 6. Governing Law; Jurisdiction; Etc. (a) THIS SECURITY AGREEMENT
SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF, BUT INCLUDING SECTION 5-1401 OF THE NEW
YORK GENERAL OBLIGATIONS LAW. 
 (b) EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY,
TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK CITY IN THE BOROUGH OF MANHATTAN AND OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK SITTING IN THE BOROUGH OF MANHATTAN, AND ANY
APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS SECURITY AGREEMENT SUPPLEMENT, 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 SECURITY AGREEMENT SUPPLEMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE
AGENT, THE COLLATERAL AGENT, ANY LENDER OR ANY L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS SECURITY AGREEMENT SUPPLEMENT OR THE RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT AGAINST ANY LOAN PARTY OR ITS PROPERTIES
IN THE COURTS OF ANY JURISDICTION. 
 (c) EACH PARTY HERETO 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 SECURITY AGREEMENT SUPPLEMENT 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) EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 10.02 OF THE
CREDIT AGREEMENT. NOTHING IN THIS SECURITY AGREEMENT SUPPLEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 

(e) EACH PARTY TO THIS SECURITY AGREEMENT SUPPLEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND,
ACTION OR CAUSE OF ACTION ARISING UNDER THIS SECURITY AGREEMENT SUPPLEMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS SECURITY AGREEMENT SUPPLEMENT, OR THE
TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE
DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS SECURITY AGREEMENT SUPPLEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 6(e) WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER
OF THEIR RIGHT TO TRIAL BY JURY. 

					
	Very truly yours,
	OPTIMAL RESEARCH, LLC
		
	By:	 	 /s/ Roger Smith

		 	Name:	 	Roger Smith
		 	Title:	 	President
	
	Address for notices:
	Pharmaceutical Product Development, LLC
	929 North Front Street
	Wilmington, NC 28401
	Attention: General Counsel
	(P)
[                                    ]
	(F)
[                                    ]
	(E)
[                                    ]

  
 [Signature Page to
Security Agreement Supplement] 

 Schedule I 

to the Security Agreement 

Location, Chief Executive Office, Type Of Organization, Jurisdiction Of Organization, Organizational 

Identification Number, Tax Identification Number and Trade Names 

 

													
	 Grantor
	  	 Type of
Organization
	  	 Jurisdiction of
Organization
	  	 Organizational
I.D. No.
	  	 Tax I.D.

No.
	  	 Trade Names
	  	 Chief Executive Office

	Optimal Research, LLC	  	Limited Liability Company	  	Maryland	  	W15813587	  	61-1735709	  	None	  	 15201 Shady Grove Road,
 Suite 202

Rockville, MD 20850

 Changes in Name, Location, Chief Executive Office, Organization Type, Jurisdiction of Organization,
Organizational Identification Number or Taxpayer Identification Number Within the Last Five Years 
  

													
	 Grantor
	  	 Former Legal
Name and Date
of
Change
	  	 Former
Jurisdiction of
Organization
	  	 Former
Organizational
I.D. No.
	  	 Former Tax
I.D. No.
	  	 Former
Trade
Names
	  	 Former

Chief Executive Office

	Optimal Research, LLC	  		  		  		  		  		  	 14808 Physicians Lane
 Suite 211

Rockville, MD 20850

 Schedule II 

to the Security Agreement 

Pledged Interests 
 None. 

 Schedule III 

to the Security Agreement 

Patents, Trademarks and Copyrights 

Patents 
  

	I.	 Registered Patents 

 

					
	 Owner
	  	 Registration

Number
	  	 Expiration Date

	None.	  		  	

  

	II.	 Patent Applications 

 

					
	 Owner
	  	 Registration

Number
	  	 Expiration Date

	None.	  		  	

 Trademarks 
  

	III.	 Registered Trademarks 

 

							
	 Owner
	  	 Mark
	  	 Registration

Number
	  	 Expiration Date

	Optimal Research, LLC	  	OPTIMAL RESEARCH INTEGRATED SITE SOLUTIONS	  	5,129,408	  	January 24, 2027

  

	IV.	 Trademark Applications 

 

							
	 Owner
	  	 Mark
	  	 Registration Number
	  	 Expiration Date

	None.	  		  		  	

 Copyrights 
  

	V.	 Registered Copyrights 

 

							
	 Owner
	  	 Full Title
	  	 Registration

Number
	  	 Expiration Date

	 None.
	  		  		  	

 Schedule III 

to the Security Agreement 
 Domain
Names 
  

	VI.	 Domain Names 

 

			
	 Domain Name
	  	 Registrar

	None.	  	

 Schedule IV 

to the Security Agreement 

Commercial Tort Claims 
 None. 

 Schedule V 

to the Security Agreement 

Equipment and Inventory 
  

							
	 Grantor
	  	 Mailing Address
	  	 County
	  	 State

	Optimal Research, LLC	  	2089 Cecil Ashburn Drive,	  	Madison	  	AL
		  	Suite 203	  		  	
		  	Huntsville, AL 35802	  		  	
				
		  	4911 Executive Drive,	  	Peoria	  	IL
		  	2nd Floor	  		  	
		  	Peoria, IL 61614	  		  	
				
		  	5920 Friars Road,	  	San Diego	  	CA
		  	Suite 200	  		  	
		  	San Diego, CA 92108	  		  	
				
		  	3030 Venture Lane,	  	Brevard	  	FL
		  	Suite 101	  		  	
		  	Melbourne, FL 32934	  		  	
				
		  	3200 Red River,	  	Travis	  	TX
		  	Suite 301	  		  	
		  	Austin, Texas 78705EX-10.16

 Exhibit 10.16 

FORM OF 

INDEMNIFICATION AGREEMENT 

This Indemnification Agreement is dated as of
            , 20     (this “Agreement”) and is between PPD, Inc. a Delaware corporation (the “Company”),
and [name of director/officer] (“Indemnitee”). 
 Background 

The Company believes that in order to attract and retain highly competent persons to serve as directors or in other capacities, including as
officers, it must provide such persons with adequate protection through indemnification against the risks of claims and actions against them arising out of their services to and activities on behalf of the Company. 

The Company desires and has requested Indemnitee to serve, or to continue to serve, as a director or officer of the Company and, in order to
induce Indemnitee to serve, or to continue to serve, as a director or officer of the Company, the Company is willing to grant Indemnitee the indemnification provided for herein. Indemnitee is willing to so serve, or to continue to serve, on the
basis that such indemnification be provided. 
 The parties by this Agreement desire to set forth their agreement regarding indemnification
and the advancement of expenses. 
 In consideration of Indemnitee’s service to the Company and the covenants and agreements set forth
below, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 

Section 1.    Indemnification. To the fullest extent permitted by the
General Corporation Law of the State of Delaware (the “DGCL”): 
 (a)    The Company shall
indemnify Indemnitee if Indemnitee was or is a party to, is threatened to be made a party to, or is otherwise involved in, as a witness or otherwise, any threatened, pending or completed action, suit or proceeding (brought in the right of the
Company or otherwise), whether civil, criminal, administrative or investigative and whether formal or informal, including any and all appeals, by reason of the fact that Indemnitee is or was or has agreed to serve as a director or officer of the
Company, or while serving as a director or officer of the Company, is or was serving or has agreed to serve at the request of the Company as a director, officer, employee or agent (which, for purposes hereof, shall include a trustee, fiduciary,
partner or manager or similar capacity) of another corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise, or by reason of any action alleged to have been taken or omitted by Indemnitee
in any such capacity. 
 (b)    Subject to Section 6, the indemnification provided by this
Section 1 shall be from and against all loss and liability suffered and expenses (including attorneys’ fees, costs 

 
and expenses), judgments, fines and amounts paid in settlement actually and reasonably incurred by or on behalf of Indemnitee in connection with such action, suit or proceeding, including any
appeals (collectively, “Losses”). 

Section 2.    Advancement of Expenses. To the fullest extent permitted by
the DGCL, but subject to the terms of this Agreement and following notice pursuant to Section 3(a) below, expenses (including attorneys’ fees, costs and expenses) incurred by Indemnitee in appearing at, participating
in or defending, or otherwise arising out of or related to, any action, suit or proceeding described in Section 1(a) shall be paid by the Company in advance of the final disposition of such action, suit or proceeding, or in
connection with any action, suit or proceeding brought to establish or enforce a right to indemnification or advancement of expenses pursuant to Section 3 (an “advancement of expenses”), within 20
days after receipt by the Company of a statement or statements from Indemnitee requesting such advancement of expenses from time to time. Indemnitee hereby undertakes to repay any amounts so advanced (without interest) to the extent that it is
ultimately determined by final judicial decision from which there is no further right to appeal (a “final adjudication”) that such Indemnitee is not entitled to be indemnified or entitled to advancement of expenses under this
Agreement. No other form of undertaking shall be required of Indemnitee other than the execution of this Agreement. This Section 2 shall be subject to Section 3(b) and shall not apply to any claim
made by Indemnitee for which indemnity is excluded pursuant to Section 6. 

Section 3.    Procedure for Indemnification; Notification and Defense of Claim. 

(a)    Promptly after receipt by Indemnitee of notice of the commencement of any action, suit or proceeding, Indemnitee
shall, if any indemnification, advancement or other claim in respect thereof is to be sought from or made against the Company hereunder, notify the Company in writing of the commencement thereof. The failure to promptly notify the Company of the
commencement of any action, suit or proceeding, or of Indemnitee’s request for indemnification, advancement or other claims shall not relieve the Company from any liability that it may have to Indemnitee hereunder and shall not constitute a
waiver or release by Indemnitee of any rights hereunder or otherwise, except to the extent the Company is actually and materially prejudiced in its defense of such action, suit or proceeding as a result of such failure. To submit a request for
indemnification under Section 1, Indemnitee shall submit to the Company a written request therefor; provided that any request for such indemnification may not be made until after a final adjudication of such
action, suit or proceeding. Any notice by Indemnitee under this Section 3 should include such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to enable the Company to
determine whether and to what extent Indemnitee is entitled to indemnification. 
 (b)    With respect to any action,
suit or proceeding of which the Company is so notified as provided in this Agreement, the Company shall, subject to the last two sentences of this Section 3(b), be entitled to assume the defense of such action, suit or
proceeding, with counsel reasonably acceptable to Indemnitee, upon the delivery to Indemnitee of written notice of its election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the
Company, the Company will not be liable to Indemnitee under this Agreement for any subsequently incurred fees of separate counsel engaged by Indemnitee with respect to the same action, suit or proceeding unless the employment of separate

  
 2 

 
counsel by Indemnitee has been previously authorized in writing by the Company, which authorization will not be unreasonably withheld, conditioned or delayed. Notwithstanding the foregoing, if
Indemnitee, based on the advice of his or her counsel, shall have reasonably concluded (with written notice being given to the Company setting forth the basis for such conclusion) that, in the conduct of any such defense, there is an actual or
potential conflict of interest or position (other than such potential conflicts that are objectively immaterial or remote) between the Company and Indemnitee with respect to a significant issue, then the Company will not be entitled, without the
written consent of Indemnitee, to assume such defense. In addition, the Company will not be entitled, without the written consent of Indemnitee, to assume the defense of any claim brought by or in the right of the Company. 

(c)    The determination whether to grant Indemnitee’s indemnification request shall be made promptly and in any
event within 30 days following the Company’s receipt of a request for indemnification in accordance with Section 3(a). If the determination of whether to grant Indemnitee’s indemnification request shall not have
been made within such 30-day period, the requisite determination of entitlement to indemnification shall, subject to Section 6, nonetheless be deemed to have been made and Indemnitee
shall be entitled to such indemnification, absent (i) an intentional misstatement by Indemnitee of a material fact, or an intentional omission of a material fact necessary to make Indemnitee’s statement not misleading, in connection with
the request for indemnification, or (ii) a prohibition of such indemnification under the DGCL; provided, however, that such 30-day period may be extended for a reasonable time, not to exceed
an additional 30 days, if the person or entity making the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation or information relating thereto. 

(d)    In the event that (i) the Company determines in accordance with this Section 3 that
Indemnitee is not entitled to indemnification under this Agreement, (ii) the Company denies a request for indemnification, in whole or in part, or fails to respond or make a determination of entitlement to indemnification within 30 days
following receipt of a request for indemnification as described above, (iii) payment of indemnification is not made within such 30-day period (as it may be extended), (iv) advancement of expenses is
not timely made in accordance with Section 2 or (v) the Company or any other person takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or
proceeding designed to deny, or to recover from, Indemnitee the benefits provided or intended to be provided to Indemnitee hereunder, Indemnitee shall be entitled to an adjudication in any court of competent jurisdiction of his or her entitlement to
such indemnification or advancement of expenses, as applicable. Indemnitee’s expenses (including attorneys’ fees, costs and expenses) incurred in connection with successfully establishing Indemnitee’s right to indemnification or
advancement of expenses, in whole or in part, in any such proceeding or otherwise shall also be indemnified by the Company to the fullest extent permitted by the DGCL. 

(e)    Indemnitee shall be presumed to be entitled to indemnification and advancement of expenses under this Agreement
upon submission of a request therefor in accordance with Section 2 or Section 3, as the case may be. The Company shall have the burden of proof in overcoming such presumption, and such presumption
shall be used as a basis for a determination of entitlement to indemnification and advancement of expenses unless the Company overcomes such presumption by clear and convincing evidence. For purposes of this

  
 3 

 
Agreement, to the fullest extent permitted by the DGCL, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is based on the records or books of account of the
Company, including financial statements, or on information supplied to Indemnitee by the officers, employees or committees of the Board of Directors of the Company (the “Board of Directors”), or on the advice of legal
counsel or other advisors (including financial advisors and accountants) for the Company or on information or records given in reports made to the Company by an independent certified public accountant or by an appraiser or other expert or advisor
selected by the Company, and the knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the Company or relevant enterprises will not be imputed to Indemnitee in a manner that limits or otherwise adversely affects
Indemnitee’s rights hereunder. 
 Section 4.    Insurance and Subrogation.

 (a)     The Company hereby covenants and agrees that, so long as Indemnitee shall be subject to any possible
action, suit or proceeding by reason of the fact that Indemnitee is or was or has agreed to serve as a director or officer of the Company, or while serving as a director or officer of the Company, is or was serving or has agreed to serve at the
request of the Company as a director, officer, employee or agent (which, for purposes hereof, shall include a trustee, fiduciary, partner or manager or similar capacity) of another corporation, limited liability company, partnership, joint venture,
trust, employee benefit plan or other enterprise, the Company, subject to Section 4(b), shall promptly obtain and maintain in full force and effect directors’ and officers’ liability insurance (“D&O
Insurance”) in reasonable amounts from established and reputable insurers, as more fully described below. 

(b)    Notwithstanding any other provisions of this Agreement to the contrary, the Company shall have no obligation to
obtain or maintain D&O Insurance if the Company determines in good faith that: (i) such insurance is not reasonably available; (ii) the premium costs for such insurance are disproportionate to the amount of coverage provided;
(iii) the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit; (iv) the Company is to be acquired and a tail policy of reasonable terms and duration is purchased for pre-closing acts or omissions by Indemnitee; or (v) the Company is to be acquired and D&O Insurance, with substantially the same terms and conditions as the D&O Insurance in place prior to such
acquisition, will be maintained by the acquirer that covers pre-closing acts and omissions by Indemnitee. 

(c)    In all policies of D&O Insurance, Indemnitee shall qualify as an insured in such a manner as to provide
Indemnitee the same rights and benefits as are accorded to the most favorably insured (i) of the Company’s independent directors (as defined by the insurer) if Indemnitee is such an independent director; (ii) of the Company’s non-independent directors if Indemnitee is not an independent director; or (iii) of the Company’s officers if Indemnitee is an officer of the Company. If the Company has D&O Insurance in effect at the
time the Company receives from Indemnitee any notice of the commencement of an action, suit or proceeding, the Company shall give prompt notice of the commencement of such action, suit or proceeding to the insurers in accordance with the procedures
set forth in the policy. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policy. 

  
 4 

 (d)    Subject to Section 15, in the event of
any payment by the Company under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee with respect to any insurance policy or any other indemnity agreement covering Indemnitee.
Indemnitee shall execute all papers required and take all reasonable action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights in accordance with the
terms of such insurance policy. The Company shall pay or reimburse all expenses actually and reasonably incurred by Indemnitee in connection with such subrogation. 

(e)    Subject to Section 15, the Company shall not be liable under this Agreement to make any
payment of amounts otherwise indemnifiable hereunder (including, without limitation, judgments, fines and amounts paid in settlement) if and to the extent that Indemnitee has otherwise actually received such payment under this Agreement or any
insurance policy, contract, agreement or otherwise. 
 Section 5.    Certain
Definitions. For purposes of this Agreement, the following definitions shall apply: 
 (a)    The term
“action, suit or proceeding” shall be broadly construed and shall include, without limitation, the investigation, preparation, prosecution, defense, settlement, arbitration and appeal of, and the giving of testimony in, any
threatened, pending or completed claim, counterclaim, cross claim, action, suit, arbitration, alternative dispute mechanism or proceeding, whether civil, criminal, administrative or investigative. 

(b)    The term “by reason of the fact that Indemnitee is or was or has agreed to serve as a director or
officer of the Company, or while serving as a director or officer of the Company, is or was serving or has agreed to serve at the request of the Company as a director, officer, employee or agent (which, for purposes hereof, shall include a trustee,
fiduciary, partner or manager or similar capacity) of another corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise” shall be broadly construed and shall include, without
limitation, any actual or alleged act or omission to act. 
 (c)    The term “expenses” shall be
broadly construed and shall include, without limitation, all direct and indirect costs of any type or nature whatsoever (including, without limitation, all attorneys’ fees, costs and expenses and related disbursements, appeal bonds, other out-of-pocket costs, retainers, court costs, transcript costs, fees of experts and other professionals, witness fees, travel expenses, duplicating costs, printing and binding
costs, telephone charges, postage, delivery service fees, any federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement, ERISA excise taxes and penalties and
reasonable compensation for time spent by Indemnitee for which Indemnitee is not otherwise compensated by the Company or any third party), actually and reasonably incurred by Indemnitee in connection with either the investigation, defense or appeal
of an action, suit or proceeding or establishing or enforcing a right to indemnification under this Agreement or otherwise incurred in connection with a claim that is indemnifiable hereunder. 

  
 5 

 (d)    The term “judgments, fines and amounts paid in
settlement” shall be broadly construed and shall include, without limitation, all direct and indirect payments of any type or nature whatsoever, as well as any penalties or excise taxes assessed on a person with respect to an employee
benefit plan. 
 Section 6.    Limitation on Indemnification.
Notwithstanding any provision of this Agreement to the contrary, the Company shall not be obligated pursuant to this Agreement: 

(a)    Proceedings Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to an
action, suit or proceeding (or part thereof) initiated voluntarily by Indemnitee, except with respect to any compulsory counterclaim brought by Indemnitee, unless (i) such indemnification is expressly required to be made by law, (ii) such
action, suit or proceeding (or part thereof) was authorized or consented to by the Board of Directors, (iii) such indemnification is provided by the Company, in its sole discretion, pursuant to the powers vested in the Company under the DGCL or
(iv) such action, suit or proceeding is brought to establish or enforce a right to indemnification or advancement of expenses under this Agreement or any other statute or law or otherwise as required under Section 145 of the DGCL in
advance of a final determination. 
 (b)    Lack of Good Faith. To indemnify Indemnitee for any expenses incurred
by Indemnitee with respect to any action, suit or proceeding instituted by Indemnitee to enforce or interpret this Agreement, if a court of competent jurisdiction determines that each of the material assertions made by Indemnitee in such action,
suit or proceeding was not made in good faith or was frivolous. 
 (c)    Section 16(b) and
Clawback Matters. To indemnify Indemnitee for (i) an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of the Securities and
Exchange Act of 1934, as amended (the “Exchange Act”), or similar provisions of state statutory law or common law, (ii) any reimbursement of the Company by the Indemnitee of any bonus or other incentive-based or
equity-based compensation or of any profits realized by the Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act (including any such reimbursements that arise from an accounting restatement of the
Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation of
Section 306 of the Sarbanes-Oxley Act) or (iii) any reimbursement of the Company by Indemnitee of any compensation pursuant to any compensation recoupment or clawback policy adopted by the Board of Directors or the compensation committee
of the Board of Directors, including but not limited to any such policy adopted to comply with stock exchange listing requirements implementing Section 10D of the Exchange Act. 

(d)    Prohibited by Law. To indemnify or advance expenses to Indemnitee in any circumstance where such
indemnification has been determined to be prohibited by law by a final (not interlocutory) judgment or other adjudication of a court or arbitration or administrative body of competent jurisdiction as to which there is no further right or option of
appeal or the time within which an appeal must be filed has expired without such filing. 

  
 6 

 Section 7.    Change in Control. 

(a)    The Company agrees that if there is a change in control of the Company, then with respect to all matters thereafter
arising concerning the rights of Indemnitee to indemnification and advancement of expenses under this Agreement, any other agreement or the Company’s certificate of incorporation or bylaws now or hereafter in effect, the Company shall seek
legal advice only from independent counsel selected by Indemnitee and approved by the Company (which approval shall not be unreasonably withheld). In addition, upon written request by Indemnitee for indemnification pursuant to
Section 1 or Section 3(a), a determination, if required by the DGCL, with respect to Indemnitee’s entitlement thereto shall be made by such independent counsel in a written opinion to the
Board of Directors, a copy of which shall be delivered to Indemnitee. The Company agrees to pay the reasonable fees of the independent counsel referred to above and to indemnify fully such counsel against any and all expenses (including
attorneys’ fees, costs and expenses), claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto. 

(b)    For purposes of this Section 7, the following definitions shall apply: 

(i)    A “change in control” shall be deemed to occur upon the earliest to occur after the date
of this Agreement of any of the following: (A) any person or group, within the meaning of Section 13(d)(3) of the Exchange Act (other than the Sponsor Investors (as defined in the Amended and Restated Stockholders Agreement, dated as of
[                ], 2020 (as such agreement may be amended from time to time)), among the Company and the other parties thereto or their respective affiliates), obtains
ownership, directly or indirectly, of (x) more than 50% of the total voting power of the outstanding capital stock of the Company or applicable successor entity (including any securities convertible into, or exercisable or exchangeable for such
capital stock) or (y) all or substantially all of the assets of the Company and its Subsidiaries on a consolidated basis; (B) during any period of two consecutive years (not including any period prior to the execution of this
Agreement), individuals who at the beginning of such period constitute the Board of Directors, and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in
Sections 7(b)(i)(A), 7(b)(i)(C) or 7(b)(i)(D) or a director whose initial nomination for, or assumption of office as, a member of the Board of Directors occurs as a result of an actual or threatened
solicitation of proxies or consents for 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) whose election by the Board of
the Directors or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the
period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the members of the Board of Directors; (C) the effective date of a merger or consolidation of the Company
with any other entity, other than a merger or consolidation that would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being
converted into voting securities of the surviving entity) at least 50% of the combined 

  
 7 

 
voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the board of directors
or other governing body of such surviving entity; and (D) the approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or substantially all of
the Company’s assets. For purposes of this Section 7(b)(i) only, “person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act; provided,
however, that “person” shall exclude (a) the Company, (b) any trustee or other fiduciary holding securities under an employee benefit plan of the Company and (c) any corporation owned, directly or indirectly, by the
stockholders of the Company in substantially the same proportions as their ownership of stock of the Company. 

(ii)    The term “independent counsel” means a law firm, or a member of a law firm, that is
experienced in matters of corporation law and neither presently is, nor in the past five years has been, retained to represent: (A) the Company or Indemnitee in any matter material to either such party or (B) any other party to the action,
suit or proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “independent counsel” shall not include any person who, under the applicable standards of professional conduct then
prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. 

(iii)    The term “Subsidiary” means, with respect to the Company (or an applicable successor
entity), any corporation, partnership, limited liability company, association or other business entity of which (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any
contingency) to vote in the election of directors or other governing persons or bodies thereof is at the time owned or controlled, directly or indirectly, by the Company or one or more of the other Subsidiaries of the Company or a combination
thereof, or (ii) if a partnership, limited liability company, trust, association or other business entity, a majority of the partnership, limited liability company or other similar ownership interest thereof is at the time owned or controlled,
directly or indirectly, by the Company or one or more of the other Subsidiaries of the Company or a combination thereof. For purposes hereof, the Company or its applicable Subsidiary shall be deemed to have a majority ownership interest in a
partnership, limited liability company, association or other business entity if the Company or such applicable Subsidiary shall be allocated a majority of partnership, limited liability company, association or other business entity gains or losses
or shall be or control the managing director, managing member, manager or general partner of such partnership, limited liability company, association or other business entity. 

Section 8.    Certain Settlement Provisions. The Company shall have no
obligation to indemnify Indemnitee under this Agreement for any amounts paid in settlement of any action, suit or proceeding without the Company’s prior written consent. The Company shall not, without Indemnitee’s prior written consent,
settle any action, suit or proceeding in any manner that would attribute to Indemnitee any admission of liability or that would impose any fine or other obligation or restriction on Indemnitee. Neither the Company nor Indemnitee will unreasonably
withhold, condition or delay his, her or its consent to any proposed settlement. 

Section 9.    Savings Clause. If any provision or provisions (or portion
thereof) of this Agreement shall be invalidated on any ground by any court of competent jurisdiction, then the 

  
 8 

 
Company shall nevertheless indemnify Indemnitee if Indemnitee was or is a party to, is threatened to be made a party to, or is otherwise involved in, as a witness or otherwise, any threatened,
pending or completed action, suit or proceeding (brought in the right of the Company or otherwise), whether civil, criminal, administrative or investigative and whether formal or informal, including any and all appeals, by reason of the fact that
Indemnitee is or was or has agreed to serve as a director or officer of the Company, or while serving as a director or officer of the Company, is or was serving or has agreed to serve at the request of the Company as a director, officer, employee or
agent (which, for purposes hereof, shall include a trustee, fiduciary, partner or manager or similar capacity) of another corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise, or by
reason of any action alleged to have been taken or omitted by Indemnitee in any such capacity, from and against all Losses suffered by, or incurred by or on behalf of, Indemnitee in connection with such action, suit or proceeding, including any
appeals, to the fullest extent permitted by any applicable portion of this Agreement that shall not have been invalidated. 

Section 10.    Contribution. In order to provide for just and equitable
contribution in circumstances in which the indemnification provided for herein is held by a court of competent jurisdiction to be unavailable to Indemnitee in whole or in part, it is agreed that, in such event, the Company shall, to the fullest
extent permitted by law, contribute to the payment of all Losses suffered by, or incurred by or on behalf of, Indemnitee in connection with any action, suit or proceeding, including any appeals, in an amount that is just and equitable in the
circumstances in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such actions, suit or proceeding; and/or (ii) the relative fault of the
Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s); provided that, without limiting the generality of the foregoing, such contribution shall not be required where
such holding by the court is due to any limitation on indemnification set forth in Section 4(e), Section 6 or Section 8. 

Section 11.    Form and Delivery of
Communications. All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been duly given if (a) delivered by hand, upon receipt by the party to whom said notice
or other communication shall have been directed, (b) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed, (c) mailed by reputable overnight courier, one day after
deposit with such courier and with written verification of receipt, or (d) sent by email or facsimile transmission, with receipt of oral confirmation that such transmission has been received. Notice to the Company shall be directed to
[                ], email: [                @ppdi.com], facsimile: [(    )-    -        ], confirmation number: [(    )-    -        ]. Notice to Indemnitee shall be directed to
[                    ], email:
[                @                .com], facsimile: [(    )-    -        ], confirmation number:
[(    )-    -            ]. 

Section 12.    Nonexclusivity. The provisions for indemnification to or the
advancement of expenses and costs to Indemnitee under this Agreement shall not limit or restrict in any way the power of the Company to indemnify or advance expenses to Indemnitee in any other way permitted by law or be deemed exclusive of, or
invalidate, any right to which any indemnitee seeking indemnification or advancement of expenses may be entitled under any law, the Company’s certificate of incorporation or bylaws, other agreements or arrangements, vote of stockholders or
disinterested directors or otherwise, both as to action in Indemnitee’s capacity as an officer, director, employee or agent of the Company and as to action in any other capacity. Indemnitee’s rights hereunder shall inure to the benefit of
the heirs, executors and administrators of Indemnitee. 

  
 9 

 Section 13.    Defenses.
In (i) any action, suit or proceeding brought by Indemnitee to enforce a right to indemnification hereunder (but not in an action, suit or proceeding brought by Indemnitee to enforce a right to an advancement of expenses) it shall be a defense
that, and (ii) any action, suit or proceeding brought by the Company to recover an advancement of expenses pursuant to the terms of an undertaking by Indemnitee pursuant to Section 2, the Company shall be entitled to
recover such expenses upon a final adjudication that, Indemnitee has not met any applicable standard for indemnification set forth in the DGCL. Neither the failure of the Company (including its directors who are not parties to such action, a
committee of such directors, independent legal counsel or the Company’s stockholders) to have made a determination prior to the commencement of such suit that indemnification of Indemnitee is proper in the circumstances because Indemnitee has
met the applicable standard of conduct set forth in the DGCL, nor an actual determination by the Company (including its directors who are not parties to such action, a committee of such directors, independent legal counsel or the Company’s
stockholders) that Indemnitee has not met such applicable standard of conduct, shall create a presumption that Indemnitee has not met the applicable standard of conduct or, in the case of such a suit brought by Indemnitee, be a defense to such suit.

 Section 14.    No Construction as Employment Agreement. Nothing
contained herein shall be construed as giving Indemnitee any right to be retained as a director or officer of the Company or in the employ of the Company or any other entity. For the avoidance of doubt, the indemnification and advancement of
expenses provided under this Agreement shall continue as to Indemnitee even though he or she may have ceased to be a director, officer, employee or agent of the Company. 

Section 15.    Jointly Indemnifiable Claims. 

(a)    Given that certain jointly indemnifiable claims may arise due to the service of Indemnitee as a director and/or
officer of the Company at the request of Indemnitee-related entities (as defined below), the Company acknowledges and agrees that the Company shall be fully and primarily responsible for payments to Indemnitee
in respect of indemnification or advancement of expenses in connection with any such jointly indemnifiable claims pursuant to and in accordance with the terms of this Agreement, irrespective of any right of recovery Indemnitee may have from Indemnitee-related entities. Under no circumstance shall the Company be entitled to any right of subrogation or contribution by Indemnitee-related entities, and no right of
advancement or recovery Indemnitee may have from Indemnitee-related entities shall reduce or otherwise alter the rights of Indemnitee or the obligations of the Company hereunder. In the event that any of Indemnitee-related entities shall make any payment to Indemnitee in respect of indemnification or advancement of expenses with respect to any jointly indemnifiable claim,
Indemnitee-related entity making such payment shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee against the Company, and Indemnitee shall execute all papers
reasonably required and shall do all things that may be reasonably necessary to secure such rights, including the execution of such documents as may be necessary to enable Indemnitee-related entities
effectively to bring suit to enforce such rights. 

  
 10 

 The Company and Indemnitee agree that each of Indemnitee-related
entities shall be third-party beneficiaries with respect to this Section 15(a) and entitled to enforce this Section 15(a) as though each such Indemnitee-related entity were a party to this Agreement. 
 (b)    For purposes of
this Section 15, the following terms shall have the following meanings: 
 (i)    The term
“Indemnitee-related entities” means any corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise (other than
the Company or any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise Indemnitee has agreed, on behalf of the Company or at the Company’s request, to serve as a director,
officer, employee or agent and which service is covered by the indemnity described in this Agreement) from whom an Indemnitee may be entitled to indemnification or advancement of expenses with respect to which, in whole or in part, the Company may
also have an indemnification or advancement obligation (other than as a result of obligations under an insurance policy). 

(ii)    The term “jointly indemnifiable claims” shall be broadly construed and shall include,
without limitation, any action, suit or proceeding for which Indemnitee shall be entitled to indemnification or advancement of expenses from both the Company and any Indemnitee-related entity pursuant to the
DGCL, any agreement or the certificate of incorporation, bylaws, partnership agreement, operating agreement, certificate of formation, certificate of limited partnership or comparable organizational documents of the Company or Indemnitee-related entities, as applicable. 

Section 16.    Interpretation of Agreement. It is understood that the
parties hereto intend this Agreement to be interpreted and enforced so as to provide, in each instance, indemnification and advancement of expenses to Indemnitee to the fullest extent permitted by the DGCL, as the same exists or may hereafter be
amended (but, in the case of any such amendment, only to the extent that such amendment permits the Company to provide broader indemnification rights than the DGCL permitted the Company to provide prior to such amendment). Whenever the words
“include”, “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”, whether or not they are in fact followed by those words or words of like
import. 
 Section 17.    Entire Agreement. This Agreement and the
documents expressly referred to herein constitute the entire agreement between the parties hereto with respect to the matters covered hereby, and any other prior or contemporaneous oral or written understandings or agreements with respect to the
matters covered hereby are expressly superseded by this Agreement. 

Section 18.    Modification and Waiver. No supplement, modification, waiver
or amendment of this Agreement shall be binding unless executed in writing by the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not
similar) nor shall such waiver constitute a continuing waiver. For the avoidance of doubt, (a) this Agreement may not be modified or terminated by the Company without Indemnitee’s prior written consent; (b) no amendment,

  
 11 

 
alteration or interpretation of the Company’s certification of incorporation or bylaws or any other agreement or arrangement shall limit or otherwise adversely affect the rights provided to
Indemnitee under this Agreement and (c) a right to indemnification or to advancement of expenses arising under a provision of the Company’s certification of incorporation or bylaws or this Agreement shall not be eliminated or impaired by
an amendment to such provision after the occurrence of the act or omission that is the subject of the action, suit or proceeding for which indemnification or advancement of expenses is sought. 

Section 19.    Successor and Assigns. All of the terms and provisions of
this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the parties hereto and their respective successors, assigns, heirs, executors, administrators and legal representatives. The Company shall require and
cause any direct or indirect successor (whether by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company, by written agreement in form and substance reasonably satisfactory to Indemnitee,
expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. 

Section 20.    Service of Process and Venue. The Company hereby irrevocably
and unconditionally (a) agrees that any action or proceeding arising out of or in connection with this Agreement shall be brought in the Chancery Court of the State of Delaware (the “Delaware Court”),
(b) consents to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (c) appoints, to the extent the Company is not otherwise subject to
service of process in the State of Delaware, [                    ], as its agent in the State of Delaware for acceptance of legal process in
connection with any such action or proceeding against such party with the same legal force and validity as if served upon the Company personally within the State of Delaware, (d) waives any objection to the laying of venue of any such action or
proceeding in the Delaware Court and (e) waives, and agrees not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum. 

Section 21.    Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of Delaware. If, notwithstanding the foregoing, a court of competent jurisdiction shall make a final determination that the provisions of the law of any state other than Delaware govern
indemnification by the Company of Indemnitee, then the indemnification provided under this Agreement shall in all instances be enforceable to the fullest extent permitted under such law, notwithstanding any provision of this Agreement to the
contrary. 
 Section 22.    Counterparts. This Agreement may be executed
in two or more counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument, notwithstanding that both parties are not signatories to the original or same counterpart. 

Section 23.    Headings and Section References. The section and subsection
headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Section references are to this Agreement unless otherwise specified. 

[Signature Page Follows] 

  
 12 

 This Indemnification Agreement has been duly executed and delivered to be effective as of
the date first written above. 
  

			
	PPD, INC.
		
	By:	 	
                     
                                         
       

		 	Name:
		 	Title:
	
	INDEMNITEE:
	
	
                     
                                         
                   

	Name:	 	

  
 [Signature Page to
Indemnification Agreement]

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