Document:

Amended & Restated Credit Agreement

 Exhibit 10.1 

 
  

 
 AMENDED AND RESTATED

 CREDIT AGREEMENT 

Among 

LECROY CORPORATION, 

A Delaware Corporation 

“As Borrower” 

And 

MANUFACTURERS AND TRADERS TRUST COMPANY, 

A New York Banking Corporation 

“As Administrative Agent” 

and 

MANUFACTURERS AND TRADERS TRUST COMPANY, 

AND VARIOUS OTHER FINANCIAL INSTITUTIONS 

NOW OR HEREAFTER PARTIES HERETO 

“As Lenders” 

Dated: To Be Effective As Of July 29, 2010 
  

 
  

 TABLE OF CONTENTS 

 

					
	 	  	 	  	Page
			
	ARTICLE 1	  	DEFINITIONS	  	1
			
	 Section 1.01
	  	Defined Terms	  	1
	 Section 1.02
	  	Classification of Loans	  	25
	 Section 1.03
	  	Terms Generally	  	26
	 Section 1.04
	  	Accounting Terms; GAAP; Additional Provisions Respecting Calculation of Financial Covenants	  	26
	 Section 1.05
	  	Times of Day	  	27
			
	ARTICLE 2	  	THE CREDITS; AMOUNTS AND TERMS	  	27
			
	 Section 2.01
	  	Revolving Loans	  	27
	 Section 2.02
	  	Swingline Loan Subfacility	  	30
	 Section 2.03
	  	Letter of Credit Subfacility	  	31
	 Section 2.04
	  	Reduction and Termination of the Revolving Commitments	  	34
	 Section 2.05
	  	Evidence of Loans	  	35
	 Section 2.06
	  	Prepayments	  	35
	 Section 2.07
	  	Minimum Borrowing Amounts; Interest Rate Tranches	  	36
	 Section 2.08
	  	Payments Generally; Pro Rata Treatment; Sharing of Setoffs	  	37
			
	ARTICLE 3	  	INTEREST, FEES, YIELD PROTECTION, ETC.	  	38
			
	 Section 3.01
	  	Interest	  	38
	 Section 3.02
	  	Interest Elections	  	39
	 Section 3.03
	  	Fees	  	40
	 Section 3.04
	  	Alternate Rate of Interest	  	41
	 Section 3.05
	  	Increased Costs; Illegality	  	41
	 Section 3.06
	  	Break Funding Payment	  	43
	 Section 3.07
	  	Taxes	  	44
	 Section 3.08
	  	Mitigation Obligations; Replacement of Lenders	  	45
			
	ARTICLE 4	  	REPRESENTATIONS AND WARRANTIES	  	46
			
	 Section 4.01
	  	Organization; Powers	  	46
	 Section 4.02
	  	Authorization; Enforceability	  	46
	 Section 4.03
	  	Governmental Approvals; No Conflicts	  	46
	 Section 4.04
	  	Financial Condition; No Material Adverse Change	  	46
	 Section 4.05
	  	Properties	  	47
	 Section 4.06
	  	Litigation and Environmental Matter	  	47
	 Section 4.07
	  	Compliance with Laws and Agreements	  	47
	 Section 4.08
	  	Investment and Holding Company Status	  	48
	 Section 4.09
	  	Taxes	  	48
	 Section 4.10
	  	ERISA	  	48
	 Section 4.11
	  	Disclosure	  	48
	 Section 4.12
	  	Subsidiaries	  	48
	 Section 4.13
	  	Insurance	  	48
	 Section 4.14
	  	Labor Matters	  	48
	 Section 4.15
	  	Solvency	  	49
	 Section 4.16
	  	Security Documents	  	49
	 Section 4.17
	  	Federal Reserve Regulations	  	50
	 Section 4.18
	  	Seller Notes and Convertible Senior Notes	  	50
			
	ARTICLE 5	  	CONDITIONS	  	50
			
	 Section 5.01
	  	Initial Extensions of Credit	  	50
	 Section 5.02
	  	Each Extension of Credit	  	54

  

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	 	  	 	  	Page
			
	ARTICLE 6	  	AFFIRMATIVE COVENANTS	  	55
			
	 Section 6.01
	  	Payment of Obligations	  	55
	 Section 6.02
	  	Financial Statements and Other Information	  	55
	 Section 6.03
	  	Notices of Material Events	  	58
	 Section 6.04
	  	Existence; Conduct of Business	  	58
	 Section 6.05
	  	Payment of Tax Liabilities	  	58
	 Section 6.06
	  	Maintenance of Properties	  	58
	 Section 6.07
	  	Books and Records; Inspection Rights; Collateral Audits	  	58
	 Section 6.08
	  	Compliance with Laws	  	59
	 Section 6.09
	  	Use of Proceeds	  	59
	 Section 6.10
	  	Information Regarding Collateral	  	59
	 Section 6.11
	  	Insurance	  	60
	 Section 6.12
	  	Casualty and Condemnation	  	60
	 Section 6.13
	  	Additional Subsidiaries	  	60
	 Section 6.14
	  	Further Assurances	  	61
	 Section 6.15
	  	Environmental Compliance	  	62
			
	ARTICLE 7	  	NEGATIVE COVENANTS	  	62
			
	 Section 7.01
	  	Indebtedness	  	62
	 Section 7.02
	  	Liens	  	64
	 Section 7.03
	  	Fundamental Changes	  	64
	 Section 7.04
	  	Investments, Loans, Advances, Guarantees and Acquisitions	  	65
	 Section 7.05
	  	Dispositions	  	66
	 Section 7.06
	  	Sale and Lease-Back Transactions	  	66
	 Section 7.07
	  	Hedging Agreements	  	67
	 Section 7.08
	  	Restricted Payments	  	67
	 Section 7.09
	  	Transactions with Affiliates	  	67
	 Section 7.10
	  	Restrictive Agreements	  	67
	 Section 7.11
	  	Amendment of Material Documents	  	68
	 Section 7.12
	  	Senior Leverage Ratio	  	68
	 Section 7.13
	  	Total Leverage Ratio	  	68
	 Section 7.14
	  	Minimum Consolidated EBITDA	  	68
	 Section 7.15
	  	Fixed Charge Coverage Ratio	  	69
	 Section 7.16
	  	Maximum Capital Expenditures	  	69
	 Section 7.17
	  	Maximum Debt Outstanding	  	69
	 Section 7.18
	  	Minimum Liquidity	  	70
	 Section 7.19
	  	Amendments to Convertible Senior Notes and Indenture; Prepayment of Convertible Senior Notes	  	70
			
	ARTICLE 8	  	EVENTS OF DEFAULT	  	71
			
	 Section 8.01
	  	Events of Default	  	71
	 Section 8.02
	  	Acceleration; Remedies	  	73
	 Section 8.03
	  	Application of Funds	  	74
			
	ARTICLE 9	  	THE AGENT	  	75
			
	 Section 9.01
	  	Appointment	  	75
	 Section 9.02
	  	Exculpatory Provisions	  	75
	 Section 9.03
	  	Reliance by Agent	  	76
	 Section 9.04
	  	Delegation of Duties	  	76
	 Section 9.05
	  	Resignation of Agent	  	77
	 Section 9.06
	  	Non-Reliance on Agent and Other Lenders	  	77
	 Section 9.07
	  	Agent May Hold Collateral For Lenders and Others	  	77
	 Section 9.08
	  	No Independent Actions By Lenders With Respect to Collateral Or Remedies; Exercise of Control Of Acquisition Of Title	  	78
	 Section 9.09
	  	The Agent In Its Individual Capacity	  	78

  

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	 	  	 	  	Page
			
	 Section 9.10
	  	Documentation Agent	  	78
			
	ARTICLE 10	  	MISCELLANEOUS	  	79
			
	 Section 10.01
	  	Notices	  	79
	 Section 10.02
	  	Waivers; Amendments	  	80
	 Section 10.03
	  	Expenses; Indemnity; Damage Waiver	  	81
	 Section 10.04
	  	Successors and Assigns	  	82
	 Section 10.05
	  	Survival	  	85
	 Section 10.06
	  	Counterparts; Integration; Effectiveness; Electronic Execution	  	86
	 Section 10.07
	  	Severability	  	86
	 Section 10.08
	  	Right of Setoff	  	87
	 Section 10.09
	  	Governing Law; Jurisdiction; Consent to Service of Process	  	87
	 Section 10.10
	  	WAIVER OF JURY TRIAL	  	88
	 Section 10.11
	  	Headings	  	88
	 Section 10.12
	  	Interest Rate Limitation	  	88
	 Section 10.13
	  	Treatment of Certain Information; Confidentiality	  	89
	 Section 10.14
	  	Acknowledgments	  	89
	 Section 10.15
	  	USA Patriot Act Notice	  	90

  

 iii 

					
	SCHEDULES:	  		  	
	Schedule 2.01	  	Lenders and Commitments	  	
	Schedule 4.06	  	Disclosed Matters	  	
	Schedule 4.12	  	Subsidiaries	  	
	Schedule 4.13	  	Insurance	  	
	Schedule 7.01	  	Existing Indebtedness	  	
	Schedule 7.02	  	Existing Liens	  	
	Schedule 7.04	  	Existing Investments	  	
	Schedule 7.10	  	Existing Restrictions	  	
			
	EXHIBITS:	  		  	
	Exhibit A	  	Form of Assignment And Acceptance	  	
	Exhibit B	  	Form of Guaranty Agreement	  	
	Exhibit C	  	Form of Revolving Note	  	
	Exhibit D	  	Form of Swingline Note	  	
	Exhibit E	  	Form of Notice of Borrowing	  	
	Exhibit F	  	Form of Interest Election Request	  	

  

 iv 

 AMENDED AND RESTATED CREDIT AGREEMENT 

THIS AMENDED AND RESTATED CREDIT AGREEMENT is dated to be effective as of July 29, 2010 among LECROY CORPORATION, a Delaware corporation
(“Borrower”), each of the “Lenders” (as such term is defined below); the “Issuing Lender” (as such term is defined below; and MANUFACTURERS AND TRADERS TRUST COMPANY, a New York banking corporation,
as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Agent”). 

RECITALS 
 A.
The Borrower proposes to obtain senior bank credit facilities which will be used for the purposes set forth below in this Agreement. 

B. On or about March 30, 2007, the Borrower, Manufacturers and Traders Trust Company, as administrative agent thereunder, and
various financial institutions party thereto entered into a certain Credit Agreement (as amended, modified, or supplemented from time to time through the date hereof, the “Original Credit Agreement”). 

C. In connection with the foregoing, the Borrower has requested that the Agent and the Lenders enter into this Amended and Restated
Credit Agreement to refinance, amend, and restate the Original Credit Agreement, and to provide for the loans and other financial accommodations to the Borrower as more particularly described herein; and 

D. The Lenders have agreed to make such loans and other financial accommodations to the Borrower on the terms and conditions contained
herein. 
 In consideration of the premises and the mutual covenants contained herein, the parties hereto hereby agree as
follows: 
 ARTICLE 1 DEFINITIONS 

Section 1.01 Defined Terms. As used in this Amended and Restated Credit Agreement, the following terms have the
meanings specified below: 
 “Acquisition Target” means any Person (or substantially all of the assets and
business operation of any Person) which is to be acquired in a Permitted Acquisition by the Borrower or any of its Subsidiaries. 

“Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism Act of 2001 (USA Patriot Act), Pub. L. No. 107-56, 115 Stat. 272 (codified as amended in scattered sections of 18 U.S.C.A.). 

“Adjusted Base Rate” means that rate of interest equal to the Base Rate plus the Applicable Rate. 

 “Adjusted LIBOR Rate” means, with respect to any Eurodollar Borrowing for
any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the nearest one hundredth of one percent (.01%) determined by the Agent to be equal to the sum of (a) the quotient obtained by dividing (i) the LIBOR Rate
for such Eurodollar Borrowing for such Interest Period by (ii) 1.00 minus the Reserve Requirement for such Eurodollar Borrowing for such Interest Period; plus (b) the Applicable Rate. 

“Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 

“Agreement” means this Amended and Restated Credit Agreement, as amended and modified from time to time. 

“Applicable Rate” means, the following percentages corresponding to the Total Leverage Ratio in effect as of the most
recent Calculation Date: (a) with respect to Adjusted Base Rate Borrowings and Swingline Loans, the percentage set forth below under the heading “Applicable Rate for Adjusted Base Rate Borrowings”; (b) with respect to Eurodollar
Borrowings, the percentage set forth below under the heading “Applicable Rate for Eurodollar Borrowings”; (c) with respect to the Commitment Fee payable under Section 3.03(b), the percentage set forth below under the heading
“Applicable Rate for Commitment Fees”; and (d) with respect to the LC Issuance Fees payable under Section 3.03(c), the percentage set forth below under the heading “Applicable Rate for LC Issuance Fees”: 

 

															
	 Tier Level
	  	 Total Leverage

Ratio
	  	Applicable
Rate for
Adjusted Base
Rate
Borrowings	 	 	Applicable
Rate for
Eurodollar
Borrowings	 	 	Applicable
Rate
for
Commitment
Fees	 	 	Applicable
Rate for LC
Issuance Fees	 
	 1
	  	3 4.00	  	3.25	% 	 	4.25	% 	 	0.500	% 	 	4.25	% 
	 2
	  	3 3.50 < 4.00	  	3.00	% 	 	4.00	% 	 	0.500	% 	 	4.00	% 
	 3
	  	3 3.00 < 3.50	  	2.75	% 	 	3.75	% 	 	0.375	% 	 	3.75	% 
	 4
	  	3 2.50 < 3.00	  	2.50	% 	 	3.50	% 	 	0.250	% 	 	3.50	% 
	 5
	  	< 2.50	  	2.25	% 	 	3.25	% 	 	0.250	% 	 	3.25	% 

 The initial Applicable Rates
shall be based on Tier Level 1. Beginning with the Calculation Date immediately following the fiscal quarter of the Borrower ending on June 30, 2010 and quarterly thereafter, the Applicable Rates shall be determined and adjusted by the then
current Total Leverage Ratio as determined in accordance with the quarterly Compliance Certificates to be provided by the Borrower in accordance with Section 6.02(d) of this Agreement. If the Borrower fails to timely provide a Compliance
Certificate for any fiscal quarter of the Borrower as required by and within the time limitations set forth in Section 6.02(d), the Applicable Rates from the applicable date of such failure shall be based on Tier Level 1 until five
(5) Business Days after a Compliance Certificate has been provided, whereupon the Tier Level shall be determined by the Total Leverage Ratio set forth in such Compliance Certificate. Except as set forth above, each Applicable Rate shall be
effective from a Calculation Date until the next Calculation Date. 
  

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

“Asset Disposition” means the Disposition of any or all of the assets (including, without limitation, the Capital Stock
of a Subsidiary or any ownership interest in a joint venture) of any Loan Party or any Subsidiary whether by sale, lease, transfer or otherwise; provided, however, the term “Asset Disposition” shall not include (a) Specified
Sales, (b) any other Disposition permitted by Section 7.05, or (c) any Equity Issuance. 

“Assignee” means an Eligible Assignee who has acquired an assignment of a Lender’s interests in a Loan in
accordance with the provisions of Section 10.04 of this Agreement. 
 “Assignment And Acceptance” means an
assignment and acceptance entered into by a Lender and an Assignee (with the consent of any party whose consent is required by the terms of this Agreement), and accepted by the Agent, substantially in the form of Exhibit A or any other form approved
by the Agent. 
 “Bankruptcy Code” means the Bankruptcy Code in Title 11 of the United States Code, as amended,
modified, succeeded or replaced from time to time. 
 “Base Rate” means, for any day, the fluctuating rate per
annum equal to the highest of (a) the Prime Rate for such day, (b) the Federal Funds Rate in effect on such day plus fifty (50) Basis Points, and (c) the one-month LIBOR Rate, plus one hundred (100) Basis Points. Any
change in the Base Rate shall be effective on the opening of business on the day of such change. 
 “Basis
Point” means one one-hundredth (.01) of one percent. 
 “Borrower Materials” has the meaning specified
in Section 6.02 of this Agreement. 
 “Borrowing Request” means a request by the Borrower for a Borrowing
in accordance with Sections 2.01 or 2.02. 
 “Borrowing” means Revolving Loans of the same Type made, converted
or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect. 

“Borrowing Date” means, any Business Day specified in a notice issued by the Borrower in accordance with Sections 2.01
or 2.02 of this Agreement as a date on which the Borrower has requested that the Lenders advance the proceeds of the Revolving Loans or that the Swingline Lender advance the proceeds of the Swingline Loans, as the case may be, to or for the account
of the Borrower, which shall be a Business Day. 
 “Business Day” means any day other than a Saturday, Sunday
or other day on which commercial banking institutions in the State of New York are required to be closed, and if 
  

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such day relates to any Eurodollar Borrowing, any day on which dealings in dollar deposits are conducted by and between banks in the London interbank eurodollar market. 

“Calculation Date” means each of the dates upon which the Applicable Rates are to be determined and adjusted, which
adjustment shall be made quarterly on the date occurring five (5) Business Days after the date on which the Agent receives the quarterly Compliance Certificate in accordance with the provisions of Section 6.02(d) of this Agreement, or
otherwise as required by the terms of this Agreement. 
 “Capital Adequacy Requirement” means any Law imposing
any capital adequacy requirement or any other similar requirement (including but not limited to the capital adequacy regulations contained in Parts 3, 208 and 225 of Title 12 of the Code of Federal Regulations, as amended), any change in such laws
or in the interpretation or application thereof, and any request, guideline or directive regarding capital adequacy (whether or not having the force of law) from any central bank or Governmental Authority. 

“Capital Expenditures” means, for any specified period, the sum of (without duplication) all expenditures during such
period for fixed or capital assets that are required to be capitalized under GAAP. 
 “Capital Lease” means, as
applied to any Person, any lease of any property (whether real, personal or mixed) by that Person as lessee which, in accordance with GAAP, is or should be accounted for as a capital lease on the balance sheet of that Person. 

“Capital Lease Obligations” means indebtedness incurred as a lessee pursuant to a Capital Lease. 

“Capital Stock” means (a) in the case of a corporation, capital stock of any class or series, (b) in the case
of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of capital stock, (c) in the case of a partnership, partnership interests (whether general or limited),
(d) in the case of a limited liability company, membership interests and (e) any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing
Person. 
 “Cash Collateral” has the meaning ascribed to such term in Section 2.03(i) of this Agreement.

 “Cash Collateralize” has the meaning ascribed to such term in Section 2.03(i) of this Agreement.

 “Change in Control” means, with respect to any Person, an event or series of events by which: (i) any
“person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its
capacity as trustee, agent or other fiduciary or administrator of any such plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed
to have “beneficial ownership” of all securities that such person or group has the right 
  

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to acquire (such right, an “option right”), whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of twenty-five percent
(25%) or more of the equity securities of such Person entitled to vote for members of the board of directors or equivalent governing body of such Person on a fully-diluted basis (and taking into account all such securities that such person or
group has the right to acquire pursuant to any option right); or (ii) during any period of twelve (12) consecutive months, a majority of the members of the board of directors or other equivalent governing body of such Person cease to be
composed of individuals (a) who were members of that board or equivalent governing body on the first day of such period, (b) whose election or nomination to that board or equivalent governing body was approved by individuals referred to in
clause (a) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or (c) whose election or nomination to that board or other equivalent governing body was approved by
individuals referred to in clauses (a) and (b) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body (excluding, in the case of both clause (b) and clause (c), any
individual whose initial nomination for, or assumption of office as, a member of that board or equivalent governing body occurs as a result of an actual or threatened solicitation of proxies or consents for the election or removal of one or more
directors by any person or group other than a solicitation for the election of one or more directors by or on behalf of the board of directors). The occurrence of any “Change in Control” as such term is defined in the Indenture shall also
constitute a “Change in Control” under this Agreement. 
 “Change in Law” means (a) the adoption
of any law, rule or regulation after the Closing Date, (b) any change in any law, rule or regulation or in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the
interpretation or administration thereof after the Closing Date or (c) compliance by any Credit Party (or, for purposes of Section 3.05(b), by any lending office of such Credit Party or by such Credit Party’s holding company, if any)
with any request, guideline or directive (whether or not having the force of law) of any Governmental Authority, central bank or comparable agency made or issued after the Closing Date. 

“Closing” means the execution and delivery of this Agreement. 

“Closing Date” means the above-stated effective date of this Agreement. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time, and all Treasury regulations, revenue
rulings, revenue procedures or announcements thereunder. 
 “Collateral” means any and all
“Collateral,” as defined in any applicable Security Document, or any other assets or properties of any Loan Party that are pledged to any of the Credit Parties in order to secure the Obligations. 

“Compliance Certificate” has the meaning ascribed to such term in Section 6.02(d) of this Agreement. 

“Commercial Account” means the commercial checking account to be established and maintained by the Borrower with the
Agent and which may be utilized as the means of advancing funds under the Loans. 
  

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 “Commitment Fee” has the meaning ascribed to such term in
Section 3.03(b). 
 “Commitment Period” means (a) with respect to Revolving Loans, the period from
and including the Effective Date to but not including the Maturity Date, and (b) with respect to Swingline Loans, the period from and including the Effective Date to but not including the Swingline Maturity Date. 

“Consolidated EBITDA” means, for any period, determined on a consolidated basis, without duplication, for the Borrower
and its Subsidiaries, Net Income for such period plus (to the extent deducted in the computation of such Net Income): (a) Consolidated Interest Expense, (b) Taxes, (c) depreciation, (d) amortization and (e) stock
based compensation to the extent that it is a non-cash expense. 
 “Consolidated Fixed Charges” means, for any
period, the sum of the following determined on a consolidated basis, without duplication, for the Borrower and its Subsidiaries: (a) scheduled principal payments during such period on Indebtedness (including imputed principal payments in
respect of Capital Leases and synthetic leases but excluding mandatory principal prepayments and principal repayments of Convertible Senior Notes to the extent that such principal repayments are financed by Revolving Loans or are extended to a date
not less than one hundred eighty (180) days after January 1, 2014); (b) Consolidated Interest Expense; and (c) Restricted Payments. 

“Consolidated Interest Expense” means, for any period, determined on a consolidated basis, without duplication, for the
Borrower and its Subsidiaries, the sum, paid or payable, of: (a) the amount of accrued interest on or with respect to, Indebtedness for such period, including, without limitation, imputed interest on Capital Leases and imputed or accreted
interest in respect of deep discount or zero coupon obligations; plus (b) the net amount payable under all Hedging Agreements in respect of such period (or minus the net amount receivable under all Hedging Agreements in respect of such
period); plus (c) annual fees or commitment fees payable during such period; plus (d) Letter of Credit fees payable during such period. 

“Consolidated Senior Indebtedness” means at any time all Indebtedness of the Borrower and its Subsidiaries determined on
a consolidated basis other than: (a) Indebtedness described in clause (h) of the definition of “Indebtedness” to the extent such Indebtedness described in clause (h) does not, in accordance with GAAP, appear as a liability
on the consolidated balance sheet of the Borrower and its Subsidiaries; (b) Indebtedness subordinated to the Obligations on terms and conditions acceptable to the Credit Parties; and (c) Indebtedness evidenced by the Convertible Senior
Notes. 
 “Consolidated Total Indebtedness” means at any time all Indebtedness of the Borrower and its
Subsidiaries determined on a consolidated basis other than Indebtedness described in clause (h) of the definition of “Indebtedness” to the extent such Indebtedness described in clause (h) does not, in accordance with GAAP, appear
as a liability on the consolidated balance sheet of the Borrower and its Subsidiaries. 
 “Control” means the
possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to 

 

 - 6 - 

 
exercise voting power, by contract or otherwise. The terms “Controlling” and “Controlled” have meanings correlative thereto. Without limiting the generality of the foregoing,
a Person shall be deemed to be Controlled by another Person if such other Person possesses, directly or indirectly, power to vote ten percent (10%) or more of the securities having ordinary voting power for the election of directors, managing
general partners or the equivalent. 
 “Convertible Senior Notes” means the 4.00% Convertible Senior Notes due
2026 issued by the Borrower under the Indenture in the present aggregate outstanding principal amount of Thirty-Nine Million Six Hundred Fifty Thousand Dollars ($39,650,000.00). 

“Credit Parties” means the Agent, the Lenders, the Swingline Lender, and the Issuing Lender. 

“Credit Party Expenses” means the following reasonable out-of-pocket expenses or costs incurred by any of the applicable
Credit Parties: (a) all costs and expenses incurred by the Agent and its Affiliates, including the reasonable fees, charges, and disbursements of counsel for the Agent arising out of, pertaining to, or in any way connected with this Agreement,
any of the other Loan Documents or the Obligations, the syndication of the credit facilities provided for herein, or otherwise; (b) all costs required to be paid by the Borrower by the terms of the Loan Documents; (c) taxes and insurance
premiums advanced or otherwise paid by the Agent in connection with the Collateral or on behalf of the Borrower; (d) filing and recording costs, title insurance premiums, environmental and consulting fees, audit fees, search fees, appraisal
fees, and other expenses paid or incurred by the Agent; (e) costs and expenses incurred by the Agent in the collection of the Accounts (with or without the institution of legal action), or to enforce any provision of this Agreement or any other
Loan Document, or in gaining possession of, maintaining, handling, evaluating, preserving, storing, shipping, selling, preparing for sale and/or advertising to sell the Collateral or any other property of the Borrower whether or not a sale is
consummated; (f) costs and expenses of litigation incurred by any Credit Party or any Participant, including reasonable attorney’s fees of its counsel, in enforcing or defending this Agreement or any portion hereof or any other Loan
Document, or in collecting any of the Obligations after the occurrence of any Event of Default; (g) reasonable attorneys’ fees and expenses incurred by the Agent in obtaining advice or the services of its attorneys with respect to the
structuring, drafting, negotiating, reviewing, amending, terminating, waiving, enforcing or defending of this Agreement and the other Loan Documents, or any agreement or matter related hereto, whether or not litigation is instituted; (h) travel
expenses of the Agent or its agents related to any of the foregoing; (i) all costs and expenses, including reasonable attorneys’ fees and expenses, incurred by the Issuing Lender in connection with the issuance, amendment, renewal or
extension of any Letter of Credit or any demand for payment thereunder. 
 “Debt Issuance” means the issuance
of any Indebtedness for borrowed money by any Loan Party or any of its Subsidiaries (excluding, for purposes hereof, any Equity Issuance or any Indebtedness of the Borrower and its Subsidiaries permitted to be incurred pursuant to Section 7.01
hereof). 
 “Default” means any event, occurrence or omission which, with the giving of notice, the passage of
time, or both, would constitute an Event of Default. 
  

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 “Defaulting Lender” means any Lender that (a) has failed to fund any
portion of its Revolving Commitment, participations in LC Obligations or participations in Swingline Loans required to be funded by it hereunder within one (1) Business Day of the date required to be funded by it hereunder unless such failure
has been cured, (b) has otherwise failed to pay over to the Agent or any other Lender any other amount required to be paid by it hereunder within one (1) Business Day of the date when due, unless the subject of a good faith dispute or
unless such failure has been cured, or (c) has become the subject of a bankruptcy or insolvency proceeding. 

“Disclosed Matters” means the actions, suits and proceedings and the environmental matters disclosed in Schedule
4.06. 
 “Disposition” means the sale, transfer, license, lease or other disposition (including any sale
and leaseback transaction) of any real or personal property by any Loan Party or any Subsidiary of a Loan Party, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights
and claims associated therewith. 
 “Dollars” or “$” refers to lawful money of the United
States of America. 
 “Domestic Lending Office” means, initially, the office of each Lender designated as such
Lender’s Domestic Lending Office shown on its signature page to this Agreement; and thereafter, such other office of such Lender as such Lender may from time to time specify to the Agent and the Borrower as the office of such Lender at which
Adjusted Base Rate Loans of such Lender are to be made. 
 “Domestic Subsidiary” means any Subsidiary organized
under the laws of the United States of America, any State thereof or the District of Columbia. 
 “Effective
Date” means the date on which the conditions specified in Section 5.01 are satisfied (or waived in accordance with Section 10.02). 

“Eligible Assignee” means (a) a Lender; (b) an Affiliate of a Lender; (c) any Person (other than a
natural person) that is engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business that is administered or managed by a Lender, an Affiliate of a Lender,
or an entity or an Affiliate that administers or manages a Lender; (d) an Approved Fund, or (e) any Person approved by the Agent, and by the Borrower (unless a Default or a Event of Default has occurred and is continuing, in which case the
Borrower’s approval shall not be required), such approvals not to be unreasonably withheld. The term “Eligible Assignee” shall not include any natural person nor any Loan Party, Affiliate or Subsidiary of a Loan Party. 

“Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions,
notices or binding agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to the environment, preservation or reclamation of natural resources, the management, release or threatened release of any Hazardous
Material or to health and safety matters. 
  

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 “Environmental Liability” means any liability, contingent or otherwise
(including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of any Loan Party directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation,
use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or (e) any
contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

“Equity Issuance” means any issuance by the Borrower or any of its Subsidiaries to any Person which is not a Loan Party
of shares of its Capital Stock, including shares issued upon the exercise of options or warrants or upon the conversion of any debt securities to equity other than the issuance of Capital Stock of the Borrower in connection with any employee benefit
plan. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, and any regulations thereunder, as
amended from time to time, and any successor statute. 
 “ERISA Affiliate” means any trade or business (whether
or not incorporated) that, together with the Borrower or any Subsidiary, is treated as a single employer under Section 414(b) or (c) of the Code or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is
treated as a single employer under Section 414 of the Code. 
 “ERISA Event” means (a) any
“reportable event,” as defined in Section 4043 of ERISA or the regulations issued thereunder with respect to a Plan (other than an event for which the 30-day notice period is waived); (b) the existence with respect to any Plan of
an “accumulated funding deficiency” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived; (c) the filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an
application for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by the Borrower or any ERISA Affiliate of any liability under Title IV of ERISA with respect to the termination of any Plan; (e) the
receipt by the Borrower or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan; (f) the incurrence by the Borrower or any
ERISA Affiliate of any liability with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; or (g) the receipt by the Borrower or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from
the Borrower or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA.

 “Eurodollar” when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans
comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBOR Rate. 
 “Event
of Default” has the meaning ascribed to such term in Article 8 of this Agreement. 
  

 - 9 - 

 “Excluded Taxes” means, with respect to any Credit Party or any other
recipient of any payment to be made by or on account of any obligation of any Loan Party under any Loan Document, (a) income or franchise taxes imposed on (or measured by) its net income by the United States of America, or by the jurisdiction
under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Credit Party, in which its applicable lending office is located, (b) any branch profits taxes imposed by the United States of
America or any similar tax imposed by any other jurisdiction in which such Loan Party is located and (c) in the case of a Foreign Lender (other than an assignee pursuant to a request by the Borrower under Section 3.08(b)), any withholding
tax that is imposed on amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party to this Agreement (or designates a new lending office) or is attributable to such Foreign Lender’s failure to comply with
Section 3.07(e), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to receive additional amounts from such Loan Party with respect to such
withholding tax pursuant to Section 3.07(a). 
 “Extension of Credit” means, as to any Lender, the making
of a Loan by such Lender or the issuance of, or participation in, a Letter of Credit by such Lender. 
 “Federal Funds
Rate” means, for any day, the rate per annum, (rounded, if necessary, to the next greater 1/100 of 1%) determined (which determination shall be conclusive and binding, absent manifest error) by the Agent to be equal to the weighted average
of the rates on overnight Federal funds transactions with member banks of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day;
provided that: (i) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day; and (ii) if no such
rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate charged to the Agent (in its individual capacity) on such day on such transactions as determined by the Agent (which
determination shall be conclusive and binding, absent manifest error). 
 “Fee Letter” means the letter
agreement dated as of even date herewith, between the Borrower and M&T. 
 “Financial Officer” means the
chief financial officer, chief executive officer, or president of the Borrower. 
 “First Repurchase Date”
shall mean the first of the stated Repurchase Dates set forth in the Indenture which is October 15, 2011. 

“Fiscal Year” means the fiscal year of the Borrower and its Subsidiaries which is the twelve (12) month accounting
period which ends on each Saturday that is the closest to each consecutive June 30. For clarity of presentation, the consolidated financial statement year-end references are stated as June 30. 

“Fixed Charge Coverage Ratio” means, at any date of determination for the four fiscal quarter period ending on such date
(or, if such date is not the last day of a fiscal quarter, for 
  

 - 10 - 

 
the immediately preceding four fiscal quarter period), for the Borrower and its Subsidiaries on a consolidated basis, the ratio of (a) Consolidated EBITDA minus Non-Financed Capital
Expenditures minus Taxes paid in cash for such period to (b) Consolidated Fixed Charges for such period. 

“Foreign Lender” means any Lender that is organized under the laws of a jurisdiction other than that in which the
applicable Loan Party is located. For purposes of this definition, the United States of America, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 

“Foreign Subsidiary” means any Subsidiary organized under the laws of any jurisdiction other than the United States of
America or any State thereof. 
 “FRB” means the Board of Governors of the Federal Reserve System of the United
States. 
 “Fund” means any Person (other than a natural person) that is (or will be) engaged in making,
purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business. 

“Funding Date” means the date designated by the Borrower not greater than five (5) Business Days after the
Effective Date upon which the initial Extensions of Credit are made hereunder. 
 “GAAP” means generally
accepted accounting principles in the United States of America set forth in the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the
Financial Accounting Standards Board or such other principles as may be approved by a significant segment of the accounting profession in the United States, that are applicable to the circumstances as of the date of determination, consistently
applied. 
 “Governmental Authority” means the government of the United States of America, any other nation or
government, any union of nations or governments (including the European Union), any state, region, province, or other political subdivision of any nation, government or union of nations or governments, and any municipality, court or other entity
exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government. 

“Guarantee” of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the
guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of the
guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds for the purchase of) any security for the
payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (c) to maintain working capital, equity capital or any other
financial statement 
  

 - 11 - 

 
condition or liquidity of the primary obligor as to enable the primary obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of any letter of credit or
letter of guaranty issued to support such Indebtedness or obligation, provided that the term “Guarantee” shall not include endorsements for collection or deposit in the ordinary course of business. The term “Guaranteed”
has a meaning correlative thereto. 
 “Guaranty Agreements” means collectively, the Guaranty Agreements dated
to be effective as of even date herewith by LeCroy Lightspeed Corporation, a Delaware corporation, Computer Access Technology Corporation, a Delaware corporation, and Catalyst Enterprises, Inc., a California corporation, for the benefit of the
Agent, the Lenders, the Swingline Lender and the Issuing Lender, and the Guaranty Agreements, substantially in the form of Exhibit B, executed for the benefit of the Secured Parties from time to time by the Subsidiary Guarantors. 

“Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances,
wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated
pursuant to any Environmental Law. 
 “Hedging Agreement” means (a) any and all rate swap transactions,
basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or
forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions,
currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master
agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives
Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities
under any Master Agreement. 
 “Indebtedness” of any Person means, without duplication: (a) all
indebtedness for borrowed money; (b) all obligations for the deferred purchase price of property or services (excluding current accounts payable and current accrued expenses, in each case incurred in the ordinary course of business less than
two hundred seventy (270) days past due); (c) all obligations evidenced by notes, bonds, debentures or other similar instruments; (d) all indebtedness created or arising under any conditional sale or other title retention agreement;
(e) all Capital Lease Obligations; (f) all obligations, contingent or otherwise under acceptance, letter of credit or similar facilities; (g) all obligations to purchase, redeem, retire, defease or otherwise acquire for value any
Capital Stock; (h) all obligations under Hedging Agreements; (i) all Guarantees; (j) all obligations secured by any Lien on the assets of such Person; (k) all payments required by such Person under non-compete agreements;
(l) all indebtedness of any partnership in which such Person is a general partner; (m) all obligations of Person entity under synthetic 

 

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leases or other obligations that are the functional equivalent of the Indebtedness referred to in clauses (a) through (l). 

“Indemnified Taxes” means Taxes other than Excluded Taxes. 

“Indemnitee” has the meaning provided to such term in Section 10.03 of this Agreement. 

“Indenture” means the Indenture dated as of October 12, 2006 by and between the Borrower and U.S. Bank National
Association as Trustee. 
 “Interest Election Request” means a request by the Borrower to convert or continue a
Borrowing in accordance with Section 3.02. 
 “Interest Payment Date” means (a) with respect to any
Adjusted Base Rate Loan, the last day of each March, June, September and December, and (b) with respect to any Eurodollar Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a
Eurodollar Borrowing with an Interest Period of more than three (3) months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three (3) months’ duration after the first day of such
Interest Period. 
 “Interest Period” means, with respect to any Eurodollar Borrowing, the period commencing on
the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one (1), two (2), three (3), or six (6) months thereafter, as the Borrower may elect, provided that (a) if any Interest Period
would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day, unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on
the next preceding Business Day, and (b) any Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall
end on the last Business Day of the last calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent
conversion or continuation of such Borrowing. 
 “Investment” means, as to any Person, any direct or indirect
acquisition or investment by such Person, whether by means of (a) the purchase or other acquisition of capital stock or other securities of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of debt of,
or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person and any arrangement pursuant to which the investor guarantees
Indebtedness of such other Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person that constitute a business unit. For purposes of covenant compliance, the amount of any
Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment. 
  

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

“Issuing Lender” means M&T in its capacity as the issuer of Letters of Credit hereunder, or any successor issuer of
Letters of Credit hereunder. 
 “Lenders” means each of the signatories hereto designated as a
“Lender” and each Assignee. 
 “LC Borrowing” means an extension of credit resulting from a drawing
under any Letter of Credit which has not been reimbursed on the date when made. 
 “LC Commitment” means the
commitment of the Issuing Lender to issue Letters of Credit in an aggregate amount at any time outstanding not to exceed to the Letter of Credit Sublimit and with respect to each Lender, the commitment of such Lender to purchase participation
interests in the Letters of Credit up to such Lender’s Revolving Commitment Percentage multiplied by the Letter of Credit Sublimit, as such amount may be reduced from time to time in accordance with the provisions hereof. 

“LC Disbursement” means a payment made by the Issuing Lender pursuant to a Letter of Credit, including but not limited
to the amount of any draft paid by the Issuing Lender under any Letter of Credit, and any taxes, charges, or other costs or expenses incurred by the Issuing Lender in connection with any such payment. 

“LC Documents” means, with respect to any Letter of Credit, such Letter of Credit, any amendments thereto, any documents
delivered in connection therewith, any application therefor, and any agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights
and obligations of the parties concerned or (b) any collateral security for such obligations. 
 “LC Expiration
Date” means the day that is thirty (30) days prior to the Maturity Date (or, if such day is not a Business Day, the next preceding Business Day). 

“LC Fronting Fee” has the meaning ascribed to such term in Section 3.03(c) of this Agreement. 

“LC Issuance Fee” has the meaning ascribed to such term in Section 3.03(c) of this Agreement. 

“LC Obligations” means, at any time, the sum of (a) the maximum amount which is available to be drawn under Letters
of Credit then outstanding, assuming compliance with all requirements for drawings specified in such Letters of Credit plus (b) the aggregate amount of all drawings under Letters of Credit honored by the Issuing Lender but not theretofore
reimbursed. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule

  

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3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. 

“Letter of Credit” shall mean any letter of credit issued by the Issuing Lender pursuant to the terms hereof, as such
Letter of Credit may be amended, modified, extended, renewed or replaced from time to time. 
 “Letter of Credit
Application” means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the Issuing Lender. 

“Letter of Credit Sublimit” means an amount equal to Five Million Dollars ($5,000,000.00). The Letter of Credit Sublimit
is included in and is part of the Revolving Committed Amount and is not in addition to the Revolving Committed Amount. 

“LIBOR Rate” means, with respect to any Eurodollar Borrowing for any Interest Period therefor, the rate per annum
(rounded upwards, if necessary, to the nearest 1/16th of 1%) fixed by the British Bankers Association as the offered rate for United States Dollar deposits in the London Interbank Eurodollar Market, for a term comparable to such Interest Period,
appearing on Reuters Screen LIBOR page 1, or if not available, as determined by the Agent from any broker, quoting service, or commonly available source utilized by the Agent as a basis for such quotations, at approximately 11:00 a.m. (London time)
(or as soon thereafter as practicable) two (2) Business Days prior to the first day of such Interest Period; provided that, in no event shall the LIBOR Rate be a rate less than one percent (1.00%) per annum. 

“Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance,
charge or security interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, Capital Lease or title retention agreement relating to such asset and (c) in the case of securities, any
purchase option, call or similar right of a third party with respect to such securities. 
 “Loan” means a
Revolving Loan or a Swingline Loan, as the context may require. 
 “Loan Documents” shall mean all agreements,
instruments and documents and the amendments thereto, including each document listed as a “Loan Document” on a Closing Index dated the Closing Date as amended from time to time, together with this Agreement, each of the Notes, any
Assignment And Acceptance, the Letters of Credit, the LC Documents, the Guaranty Agreements, the Mortgages, the Security Documents, subordination agreements, intercreditor agreements, pledges, affidavits, powers of attorney, consents, assignments,
landlord and mortgage waivers, opinions, collateral assignments, reimbursement agreements, contracts, notices, leases, financing statements, mortgages, deeds of trust, assignments of rents or contract proceeds, intellectual property security
agreements, pledges, letter of credit applications, Hedging Agreements, the Fee Letter, and all other written matter, whether heretofore, now or hereafter executed by or on behalf of the Borrower, any of the Subsidiary Guarantors, or by any other
Person in connection with any of the Obligations. 
  

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 “Loan Party” means any of the Borrower, the Subsidiary Guarantors or any
account party under a Letter of Credit. 
 “M&T” means Manufacturers and Traders Trust Company, a New York
banking corporation. 
 “Margin Stock” has the meaning ascribed to such term in Regulation U. 

“Material Adverse Effect” means a material adverse effect on (a) the business, assets, operations, prospects or
condition, financial or otherwise, of the Borrower and the Subsidiaries, taken as a whole, (b) the ability of any Loan Party to perform any of its obligations under any Loan Document or (c) the validity or enforceability of this Agreement
or any other Loan Document (other than any Assignment And Acceptance) or the rights of or remedies available any Credit Party under any Loan Document. 

“Material Foreign Subsidiary” means each direct or indirect Foreign Subsidiary as to which any of the following tests
are or have at any time been met: (a) the Borrower’s and the other Subsidiaries’ investments in and advances to such Foreign Subsidiary is greater than or equal to five percent (5%) of the total assets of the Borrower and its
Subsidiaries on a consolidated basis as of the last day of the most recently completed Fiscal Year of the Borrower, (b) such Foreign Subsidiary’s proportionate share of the total assets (after intercompany eliminations) of the Borrower and
its Subsidiaries on a consolidated basis is greater than or equal to five percent (5%) of the total assets of the Borrower and the Subsidiaries on a consolidated basis as of the last day of the most recently completed Fiscal Year of the
Borrower, or (c) the income from continuing operations before income taxes, extraordinary items and the cumulative effect of a change in accounting principles of such Foreign Subsidiary is greater than or equal to ten percent (10%) of the
Net Income as of the last day of the most recently completed Fiscal Year. 
 “Material Indebtedness” means
Indebtedness (other than Indebtedness under the Loan Documents) or obligations in respect of one or more Hedging Agreements, of any one or more of the Borrower and the Subsidiaries in an aggregate principal amount exceeding One Million Dollars
($1,000,000.00). For purposes of determining Material Indebtedness, the “principal amount” of the obligations of the Borrower or any Subsidiary in respect of any Hedging Agreement at any time shall be the maximum aggregate amount (giving
effect to any netting agreements) that the Borrower or such Subsidiary, as applicable, would be required to pay if such Hedging Agreement were terminated at such time. 

“Maturity Date” means January 1, 2014; provided, however, if on or prior to July 15, 2011 a Default or
Event of Default has occurred or is continuing, the Maturity Date shall be July 15, 2011. The foregoing notwithstanding, nothing in this definition shall alter or impair the rights, powers, privileges and remedies of the Credit Parties under
the Loan Documents and/or applicable laws, upon the occurrence of a Default or Event of Default, including, without limitation, the right at any time, as applicable, (i) to accelerate the Obligations, (ii) to apply the default rate to the
Obligations since the date of inception of the Event of Default, (iii) to commence any legal or other action to collect any or all of the obligations from the Loan Parties and/or any Collateral, (iv) to foreclose or otherwise realize on
any or all of the Collateral and/or 
  

 - 16 - 

 
appropriate, set-off or apply to the payment of any or all of the Obligations, any or all of the Collateral, and (v) to take any other enforcement action or otherwise exercise any or all
rights and remedies provided for by any Loan Document or applicable law. 
 “Minimum Liquidity” has the meaning
given such term in Section 7.18 hereof. 
 “Mortgages” means mortgages in form and substance satisfactory
to the Agent securing the entire stated principal amount of the Revolving Committed Amount granted by the Borrower or an Affiliate of the Borrower, as the case may be, encumbering all real property and improvements thereon in which the Borrower or
an Affiliate of the Borrower has an interest. 
 “Multiemployer Plan” means a multiemployer plan as defined in
Section 4001(a)(3) of ERISA. 
 “Net Cash Proceeds” means the aggregate cash proceeds received by the
Borrower or any Subsidiary in respect of any Asset Disposition, Equity Issuance or Debt Issuance; net of (a) direct costs (including, without limitation, legal, accounting and investment banking fees, and sales commissions) and (b) taxes
paid or payable as a result thereof; it being understood that “Net Cash Proceeds” shall include any cash received upon the sale or other disposition of any non-cash consideration received by the Borrower or any Subsidiary in any Asset
Disposition, Equity Issuance or Debt Issuance net of (a) direct costs (including, without limitation, legal, accounting and investment banking fees, and sales commissions) and (b) taxes paid or payable as a result thereof. 

“Net Income” means for any period, the aggregate net income (or loss) of the Borrower and its Subsidiaries for such
period on a consolidated basis determined in accordance with GAAP, provided, the following items, without duplication, shall be excluded from the calculation of Net Income: (a) after-tax gains and losses from asset sales or abandonment
or reserves relating thereto; (b) items classified as extraordinary, nonrecurring or unusual gains, losses or charges, and the related tax effects, each determined in accordance with GAAP (including business re-alignment and restructuring
charges not to exceed $250,000 per quarter for the quarters ended 9/30/09, 12/31/09, and 3/31/10, and $100,000 per quarter thereafter); (c) the net income of any Person acquired in a “pooling of interests” transaction accrued prior to
the date it becomes a Subsidiary of the Borrower or is merged or consolidated with the Borrower or any Subsidiary of the Borrower; (d) the net income (but not loss) of any Subsidiary of the Borrower to the extent that the declaration of
dividends, the making of intercompany loans or similar payments by that Subsidiary of that income is restricted by a contract, operation of law or otherwise; (e) the net income of any Person, other than the Borrower or a Subsidiary of the
Borrower, except to the extent of cash dividends or distributions paid to the Borrower or a Subsidiary of the Borrower by such Person; (f) any restoration to income of any contingency reserve; (g) income or loss attributable to
discontinued operations (including operations disposed of during such period whether or not such operations were classified as discontinued); (h) income attributable to insurance proceeds, condemnation awards or litigation awards or
settlements; and (i) any other non-cash gains and non-cash losses. 
  

 - 17 - 

 “Non-Financed Capital Expenditures” means for any period, Capital
Expenditures paid out of operating cash flow or with proceeds of the Revolving Loans, as determined for the Borrower and its Subsidiaries on a consolidated basis in accordance with GAAP. 

“Note” or “Notes” means, the Revolving Notes or the Swingline Note, collectively or separately, as the
context may require. 
 “Notice of Borrowing” shall mean the written notice of borrowing as referenced and
defined in Section 2.01(b)(i) of this Agreement. 
 “Obligations” means collectively, but without
duplication, the obligations of the Borrower or any other Loan Party to pay to the Credit Parties or to perform for the benefit of the Credit Parties or any of their Affiliates: (a) sums due any of the Credit Parties arising out of or in
connection with the Loans or otherwise pursuant to the terms of the Notes, and the other Loan Documents; (b) indemnification and reimbursement duties and obligations owed by the Borrower to the Lenders (including the Issuing Lender), and/or the
Agent in accordance with the terms of the Loan Documents; (c) all Credit Party Expenses; (d) reimbursement, repayment or indemnity obligations owed by the Borrower to any of the Lenders with respect to overdrafts, Automatic Clearing House
(“ACH”) transactions and transfers of funds to or from any of the Lenders, cash management, treasury management arrangements, or related services provided by any of the Lenders, and transactions involving controlled disbursement accounts;
(e) all payment and indemnification obligations owed by the Borrower to the Issuing Lender or to Agent or the other Lenders which arise out of or relate to any Letters of Credit, including the LC Obligations; (f) all obligations, duties,
or sums due pursuant to or arising from any Hedging Agreement to which a Lender or any Affiliate of a Lender is a party; (g) payments owed to the Agent or to M&T pursuant to the Fee Letter; and (h) any indebtedness or liability which
may exist or arise as a result of any payment made by or for the benefit of any of the Lenders (including the Issuing Lender), or the Agent being avoided or set aside for any reason including any payment being avoided as a preference under Sections
547 and 550 of the United States Bankruptcy Code, as amended, or under any state law governing insolvency or creditors’ rights. 

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

“Original Credit Agreement” means the Credit Agreement dated as of March 30, 2007 by and between the Agent, the
Borrower, and the various financial institutions parties thereto from time to time. 
 “Participant” has the
meaning ascribed to such term in Section 10.04(f) of this Agreement. 
 “PBGC” means the Pension Benefit
Guaranty Corporation referred to and defined in ERISA and any successor entity performing similar functions. 
  

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 “Perfection Certificate” means a certificate in the form of Annex 1 to the
Security Agreements or any other form approved by the Agent. 
 “Permitted Acquisition” means any Investment
after the Closing Date by the Borrower in any Person located within the United States, whose business operations are within the same scope of business operations as the Borrower, provided that (a) there are no then continuing Defaults or Events
of Default, and immediately after giving effect to such Investment there will not be any Defaults, Events of Default, (b) no event or condition shall have occurred and be continuing that is likely to have a Material Adverse Effect, nor shall
such Investment have a Material Adverse Effect or be reasonably expected to result in a Material Adverse Effect, (c) with respect to such Investment, the Borrower shall have submitted to each of the Credit Parties, not less than thirty
(30) days before the Borrower becomes bound under any agreement to make such Investment, (i) a description of the transaction pursuant to which such Investment is to be made, accompanied by substantially final drafts of all material
definitive documents for such transaction, (ii) pro forma financial statements for the Borrower and its Subsidiaries giving effect to such Investment, (iii) updated and revised financial projections which incorporate the Acquisition
Target’s projected results of operations into the financial projections of the Borrower and its Subsidiaries then most recently submitted to the Credit Parties, projecting the compliance by the Borrower and its Subsidiaries with all covenants
of this Agreement after giving effect to the Investment, (iv) a certification given by a Financial Officer of the Borrower to the effect that no Default or Event of Default then exists and no Default, Event of Default is reasonably expected to
occur upon or as a result of the proposed acquisition and demonstrating compliance with all financial covenants set forth in this agreement prior to and upon giving effect to such acquisition, (v) such acquisition is not reasonably expected to
result in a Material Adverse Effect, (d) in the event that such acquisition is of Capital Stock, the Borrower shall, pursuant to Security Agreements, grant to the Agent a first priority security interest in all of the Capital Stock of such new
Subsidiary, and each new Subsidiary shall, at the time it becomes a Subsidiary, execute such certifications, opinions, resolutions and documents as the Agent may reasonably require (consistent with the requirements of this Agreement) to cause such
new Subsidiary to execute and deliver a Guaranty Agreement and cause such new Subsidiary to execute and deliver or become a party to, the Security Agreements in order for such new Subsidiary to grant to the Agent a first security interest in the
assets of such new Subsidiary, subject to the Permitted Encumbrances; (e) the board of directors of the Acquisition Target shall have approved the acquisition; and (d) the Lenders have consented to the Investment. 

“Permitted Encumbrances” means: 

(a) Liens imposed by law for taxes that are not yet due or are being contested in compliance with Section 6.05;

 (b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like
Liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or are being contested in compliance with Section 6.05; 

 

 - 19 - 

 (c) pledges and deposits made in the ordinary course of business in
compliance with workers’ compensation, unemployment insurance and other social security laws or regulations; 

(d) deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds,
performance bonds and other obligations of a like nature, in each case in the ordinary course of business; 
 (e)
judgment liens in respect of judgments that do not constitute an Event of Default under Section 8.01(k); and 

(f) easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in
the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or interfere with the ordinary conduct of business of the Borrower or any Subsidiary. 

“Permitted Investments” means: 

(a) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the
United States of America (or by any agency thereof to the extent that such obligations are backed by the full faith and credit of the United States of America), in each case measuring within one year from the date of acquisition thereof, 

(b) investments in commercial paper maturing within two hundred seventy (270) days from the date of acquisition
thereof and having, at such date of acquisition, the highest credit rating obtainable from the Standard & Poor’s division of The McGraw-Hill Companies, Inc. or any successor thereto, or from Moody’s Investors Service, Inc. or any
successor thereto; 
 (c) investments in certificates of deposit, banker’s acceptances and time deposits
maturing within one hundred eighty (180) days from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, any domestic office of any commercial bank organized under the
laws of the United States of America or any State thereof that has a combined capital and surplus and undivided profits of not less than Five Hundred Thousand Dollars ($500,000,000.00) and 

(d) fully collateralized repurchase agreements with a term of not more than 30 days for securities described in clause
(a) of this definition and entered into with a financial institution satisfying the criteria described in clause (c) of this definition. 

“Person” means any natural person, corporation, limited liability company, trust, estate, joint-stock company, joint
venture, association, company, partnership, unincorporated organization, Governmental Authority or other entity. 
  

 - 20 - 

 “Plan” means any employee pension benefit plan (other than a Multiemployer
Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in respect of which the Borrower, any Subsidiary or any ERISA Affiliate is (or, if such plan were terminated, would under
Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 

“Platform” has the meaning specified in Section 6.02 of this Agreement. 

“Prime Rate” means the rate of interest per annum publicly announced from time to time by the Agent, in its sole
discretion, as its prime lending rate of interest. Such announced rate bears no inference, implication, representation or warranty that such announced rate is charged to any particular customer or customers of Agent. The Agent’s prime lending
rate of interest is but one of several interest rate bases used by the Agent. Changes in the applicable interest rate shall be made as of, and immediately upon the occurrence of, changes in the Agent’s prime rate. 

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

“Recovery Event” means the receipt by the Borrower or any Subsidiary of any cash insurance proceeds or condemnation
award payable by reason of theft, loss, physical destruction or damage, taking or similar event with respect to any of their respective property or assets. 

“Register” has the meaning ascribed to such term in Section 10.04(d) of this Agreement. 

“Regulation T” means Regulation T of the FRB as from time to time in effect and all official rulings and interpretations
thereunder or thereof. 
 “Regulation U” means Regulation U of the FRB as from time to time in effect and all
official rulings and interpretations thereunder or thereof. 
 “Regulation X” means Regulation X of the FRB as
from time to time in effect and all official rulings and interpretations thereunder or thereof. 
 “Regulatory
Change” means any change after the Closing Date in the laws of the United States, any state thereof, or any other Governmental Authority, or the adoption or making after such date, of any interpretations, changes in convention, directives
or requests applying to a class of depository institutions, including any Credit Party, of or under any laws of the United States, any state thereof, or any other Governmental Authority (whether or not any such interpretation, directive or request
has the force of Law). 
 “Related Parties” means, with respect to any specified Person, such Person’s
Affiliates and the respective directors, officers, employees, Agents and advisors of such Person and such Person’s Affiliates. 

“Repurchase Date” shall have the meaning given such term in the Indenture. 

 

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 “Required Lenders” means, at any time of determination at which time there
are three (3) or more Lenders, any combination of Lenders holding at least fifty-one percent (51%) of (a) the aggregate outstanding principal balance of the Loans plus the aggregate unused Revolving Commitments at such time (and
participation interests therein) (treating for purposes hereof in the case of Swingline Loans and LC Obligations, in the case of the Swingline Lender and the Issuing Lender, only the portion of the Swingline Loans and the LC Obligations of the
Swingline Lender and the Issuing Lender, respectively, which is not subject to the participation interests of the other Lenders and, in the case of the Lenders other than the Swingline Lender and the Issuing Lender, the participation interests of
such Lenders in Swingline Loans and LC Obligations hereunder as direct Obligations of such Lenders) or (b) if the Revolving Commitments have been terminated, the outstanding Loans and participation interests (including, in the case of the
Swingline Lender and the Issuing Lender, the portion of the Swingline Loans and the LC Obligations held by the Swingline Lender and the Issuing Lender, respectively). At any time that there are less than three (3) Lenders, the term
“Required Lenders” shall mean one hundred percent (100%) of the Lenders. The Revolving Commitment and the portion of the aggregate outstanding balance of the Loans held or deemed held by any Defaulting Lender shall be excluded for
purposes of making a determination of Required Lenders. 
 “Requirement of Law” means, as to any Person, the
certificate of incorporation and by-laws or other organizational or governing documents of such Person, and each law, treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to
or binding upon such Person or any of its property or to which such Person or any of its property is subject. 

“Reserve Requirement” means for any day during the referenced period the maximum rate at which reserves (including any
marginal, special, supplemental or emergency reserves) are required to be maintained during such period under Regulation D of the FRB, from time to time in effect (or any successor or other regulation or legal requirement relating to reserve
requirements applicable to member banks of the Federal Reserve System) by member banks of the Federal Reserve System against “Eurocurrency Liabilities” as currently defined in Regulation D (or against any other category of liabilities
which includes deposits by reference to which the interest rate on Eurodollar Borrowings or loans is determined or any category of extensions of credit or other assets which include loans by a non-United States office of a bank to United States
residents), whether or not a Lender has any “Eurocurrency Liabilities” subject to such reserve requirements during the referenced period. Eurodollar Borrowings shall be deemed to constitute “Eurocurrency Liabilities,” and as such
shall be deemed subject to reserve requirements without benefits or credits for proration, exceptions or offsets that may be available from time to time to a Lender. The Adjusted LIBOR Rate shall be adjusted automatically on and as of the effective
date of any change in the Reserve Requirement. 
 “Restricted Payment” means collectively, with respect to the
Borrower and each Subsidiary: (a) any dividend or other payment or distribution, direct or indirect, on account of any equity interest in such Person now or hereafter outstanding, except a dividend or distribution payable solely in the same
class or type of equity interest to the holders of that class or type; (b) any redemption, repurchase, conversion, exchange, retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, by such
Person of any equity interest in such Person now or hereafter outstanding; (c) any payment made by such Person to retire, or to 

 

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obtain the surrender of, any outstanding warrants, options or other rights to acquire equity interests in such Person now or hereafter outstanding; or (d) any payment by such Person of any
management, consulting or similar fees which are not payments in amounts comparable to sums paid in the marketplace by entities comparable to the payor for similar services to unrelated employees for services actually performed. 

“Revolving Commitment” means, with respect to each Lender, the commitment of such Lender to make Revolving Loans in an
aggregate principal amount at any time outstanding equal to such Lender’s Revolving Committed Amount as specified in Schedule 2.01, as such amount may be reduced from time to time in accordance with the provisions hereof or in connection
with any assignment made in accordance with the provisions of Section 10.04(b) or increased in accordance with the provisions of Section 2.01(d). 

“Revolving Commitment Percentage” means, for each Lender, the percentage identified as its Revolving Commitment
Percentage on Schedule 2.01, as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 10.04(b) or increased in accordance with the provisions of Section 2.01(d).

 “Revolving Committed Amount” means, collectively, the aggregate amount of all Revolving Commitments as
referenced in Section 2.01(a), as such amount may be increased or reduced from time to time in accordance with the provisions hereof, and, individually, the amount of each Lender’s Revolving Commitment as specified on Schedule 2.01,
as such amount may be modified from time to time in accordance with the provisions hereof or in connection with any assignment made in accordance with the provisions of Section 10.04(b). 

“Revolving Loan” has the meaning ascribed to such term in Section 2.01 of this Agreement. 

“Revolving Note” means a revolving loan promissory note of the Borrower payable to the order of a Lender, substantially
in the form of Exhibit C with appropriate insertions, evidencing the Revolving Loans made by such Lender to the Borrower, as such revolving loan promissory note may be amended, modified, supplemented, extended, renewed or replaced from time to time.

 “Secured Parties” means the “Secured Parties” as defined in the Security Agreements. 

“Security Agreements” means collectively: (a) the Security Agreement dated to be effective as of even date herewith
between the Borrower and the Agent, for the benefit of the Secured Parties, as the same may be amended, modified, extended, renewed, restated, supplemented, or replaced from time to time; (b) the Security Agreements dated to be effective as of
even date herewith between each Subsidiary Guarantor and the Agent for the benefit of the Secured Parties, as the same may be amended, modified, extended, renewed, restated, supplemented, or replaced from time to time, (c) any other Security
Agreements between each Subsidiary Guarantor and the Agent for the benefit of the Secured Parties, in the same form as the Security Agreements referenced in clause “(b)” of this definition; and (d) all other copyright,

  

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trademark, patent and other security agreements or pledges executed and delivered from time to time by any of the Loan Parties to secure the Obligations. 

“Security Documents” means the Security Agreements, the Mortgages, and each other mortgage, patent, trademark, and
copyright assignments and security agreements, and any other security agreement, instrument or other document executed or delivered pursuant to Section 6.13 or Section 6.14 to secure any of the Obligations. 

“Seller Notes” means the promissory notes in the aggregate stated principal amount of Three Million Five Hundred
Thousand Dollars ($3,500,000.00), and other agreements, instruments and documents in connection therewith evidencing indebtedness of the Borrower to Nader Salehomoum as part of the purchase price for the acquisition of Catalyst Enterprises, Inc.

 “Senior Leverage Ratio” means the ratio measured for the four (4) consecutive fiscal quarters of the
Borrower and its Subsidiaries most recently ended as of the date of determination of: (a) the Consolidated Senior Indebtedness to (b) the Consolidated EBITDA of the Borrower and its Subsidiaries. 

“Specified Sales” means (a) Dispositions of obsolete or worn out property, whether now owned or hereafter acquired,
in the ordinary course of business, (b) Dispositions of equipment to the extent that (i) such property is exchanged for credit against the purchase price of similar replacement property or (ii) the proceeds of such Disposition are
applied to the purchase price of similar replacement property, (c) the sale of residual ownership rights in vehicles and equipment upon the termination of operating leases, (d) Disposition of Inventory in the ordinary course of business.

 “Springing Mortgages” has the meaning ascribed to such term in Section 4.16(c) of this Agreement.

 “Subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation,
limited liability company, partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance
with GAAP as of such date, as well as any other corporation, limited liability company, partnership, association or other entity of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the
ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held by the parent or one or more subsidiaries of the parent. 

“Subsidiary Guarantor” means the Domestic Subsidiaries of the Borrower listed in Schedule 4.12, and any other Domestic
Subsidiary that executes and delivers the Security Documents and a Guaranty Agreement, in each case in accordance with Section 5.01(a)(viii), Section 5.01(a)(ix), Section 6.13 and Section 6.14. 

“Swingline Commitment” means the commitment of the Swingline Lender to make Swingline Loans in an aggregate principal
amount at any time outstanding not to exceed 
  

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the Swingline Loan Dollar Cap, and with respect to the other Lenders, the commitment of such Lenders to purchase participation interests in the Swingline Loans as provided in
Section 2.02(c), as such amounts may be reduced from time to time in accordance with the provisions hereof. 

“Swingline Lender” means M&T, in its capacity as the provider of Swingline Loans. 

“Swingline Loan” or “Swingline Loans” has the meaning ascribed to such term in Section 2.02(a) of
this Agreement. 
 “Swingline Loan Dollar Cap” means Five Million Dollars ($5,000,000.00). The Swingline Loan
Dollar Cap is included in and is part of the Revolving Committed Amount, and is not in addition to the Revolving Committed Amount. 

“Swingline Maturity Date” means that date which occurs five (5) business days prior to the Maturity Date.

 “Swingline Note” means the swingline loan promissory note of the Borrower payable to the order of the
Swingline Lender, substantially in the form of Exhibit D with appropriate insertions, evidencing the Swingline Loans made by the Swingline Lender to the Borrower, as such swingline loan promissory note may be amended, modified, supplemented,
extended, renewed or replaced from time to time. 
 “Taxes” means all present or future taxes, levies, imposts,
duties, deductions, withholdings, assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Total Leverage Ratio” means the ratio measured for the four (4) consecutive fiscal quarters of the Borrower and
its Subsidiaries most recently ended as of the date of determination of: (a) the Consolidated Total Indebtedness to (b) the Consolidated EBITDA of the Borrower and its Subsidiaries. 

“Transactions” means (a) the execution, delivery and performance by each Loan Party of each Loan Document to which
it is a party, (b) the borrowing of the Loans, and (c) the use of the proceeds of the Loans. 

“Type” when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the
Loans comprising such Borrowing is determined by reference to Adjusted LIBOR Rate or the Adjusted Base Rate. 

“Withdrawal Liability” means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such
Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 
 Section 1.02
Classification of Loans. For purposes of this Agreement, Loans may be classified and referred to by class (e.g., a “Revolving Loan”) or by Type (e.g., a “Eurodollar Loan”) or by class and Type (e.g., a “Eurodollar
Revolving Loan”). Borrowings also may be 
  

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classified and referred to by class (e.g., a “Revolving Borrowing”) or by Type (e.g., a “Eurodollar Borrowing”) or by class and Type (e.g., a “Eurodollar Revolving
Borrowing”). 
 Section 1.03 Terms Generally. The definitions of terms herein shall apply equally to the
singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall
be deemed to be followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (a) any definition of
or reference to any agreement, instrument or document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such
amendments, supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein,” “hereof” and
“hereunder,” and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits and Schedules shall be
construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement and (e) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all
tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 
 Section 1.04
Accounting Terms; GAAP; Additional Provisions Respecting Calculation of Financial Covenants. 
 (a) Except as
otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time, provided that, if the Borrower notifies the Agent that the Borrower requests an
amendment to any provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP or in the application thereof on the operation of such provision (or if the Agent notifies the Borrower that the Required Lenders request
an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and
applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. Unless the context otherwise requires, any reference to a fiscal period shall refer to
the relevant fiscal period of the Borrower. 
 (b) Calculations made pursuant to Sections 7.12, 7.13, 7.14, 7.15, 7.16, 7.17,
7.18, and any other financial covenants set forth in Section 7, including for purposes of calculating the “Applicable Rate,” shall give effect, on a pro forma basis, to all acquisitions and dispositions made during the quarter
or year to which the required compliance relates, as if such acquisition or disposition had been consummated on the first day of the applicable period, provided, that items of revenue and expense shall be based on actual amounts and not
adjusted to give effect to potential savings and similar adjustments. Calculation of such financial covenants in connection with acquisitions and dispositions shall be based on the results of operations and financial position of the Borrower and its
Subsidiaries set forth on the most recently delivered financial statements, adjusted, in the case of an acquisition, to give effect to any additional 

 

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Indebtedness incurred in connection therewith and to include the results of operations and financial position of the target during the applicable period, and in the case of a disposition, to give
effect to any repayment of Indebtedness in connection therewith and to exclude the results of operations and financial position for the applicable period of the assets so disposed of. 

Section 1.05 Times of Day. Unless otherwise specified, all references herein to times of day shall be references to
Eastern time (daylight or standard, as applicable). 
 ARTICLE 2 THE CREDITS; AMOUNTS AND TERMS 

Section 2.01 Revolving Loans 

(a) Revolving Commitments. During the Commitment Period, subject to the terms and conditions hereof, each Lender with a Revolving
Commitment severally agrees to make revolving credit loans (“Revolving Loans”) to the Borrower from time to time for the purposes hereinafter set forth; provided, however, that (i) with regard to each Lender
individually, the sum of such Lender’s share of outstanding Revolving Loans plus the dollar amount of such Lender’s Revolving Commitment Percentage of Swingline Loans plus the dollar amount of such Lender’s Revolving Commitment
Percentage multiplied by the aggregate amount of the LC Obligations shall not exceed such Lender’s Revolving Commitment and (ii) with regard to the Lenders collectively, the sum of the aggregate amount of outstanding Revolving Loans plus
Swingline Loans plus LC Obligations shall not exceed Fifty Million Dollars ($50,000,000.00) (as such aggregate maximum amount may be reduced from time to time as provided in Section 2.04 or increased from time to time as provided in
Section 2.01(d), the “Revolving Committed Amount”). Revolving Loans may consist of Adjusted Base Rate Borrowings or Eurodollar Borrowings, or a combination thereof, as the Borrower may request, and may be repaid and reborrowed
in accordance with the provisions hereof. 
 (b) Revolving Loan Borrowings. 

(i) Notice of Borrowing. The Borrower shall request a Revolving Loan borrowing by written notice (or telephone
notice promptly confirmed in writing which confirmation may be by fax) to the Agent not later than 11:00 a.m. one (1) Business Day prior to the date of the requested borrowing in the case of Adjusted Base Rate Loans, and on the third Business
Day prior to the date of the requested borrowing in the case of Eurodollar Loans. Each such notice of borrowing shall be substantially in the form of Exhibit E with appropriate insertions (a “Notice of Borrowing”), shall be
irrevocable and shall specify: 
 (1) that a Revolving Loan is requested, 

(2) the Borrowing Date of the requested borrowing, 

(3) the aggregate principal amount to be borrowed, 

(4) whether the borrowing shall be comprised of Adjusted Base Rate Loans, Eurodollar Loans or a combination thereof, and
if Eurodollar Loans are 
  

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requested, the Interest Period(s) therefor. If the Borrower shall fail to specify in any such Notice of Borrowing (A) an applicable Interest Period in the case of a Eurodollar Loan, then
such notice shall be deemed to be a request for an Interest Period of one month, or (B) the type of Revolving Loan requested, then such notice shall be deemed to be a request for an Adjusted Base Rate Loan hereunder. The Agent shall give notice
to each Lender promptly upon receipt of each Notice of Borrowing, the contents thereof and each such Lender’s share thereof. 

(ii) Advances. Each Lender will make its Revolving Commitment Percentage of each Revolving Loan borrowing available
to the Agent for the account of the Borrower at the office of the Agent specified in Section 10.01, or at such other office as the Agent may designate in writing, by 1:00 p.m. on the date specified in the applicable Notice of Borrowing in
dollars and in funds immediately available to the Agent. Such borrowing will then be made available to the Borrower by the Agent on such day by crediting the Commercial Account of the Borrower on the books of such office with the aggregate of the
amounts made available to the Agent by the Lenders and in like funds as received by the Agent. 
 (c) Repayment. The
principal amount of all Revolving Loans shall be due and payable in full on the Maturity Date. 
 (d) Increase in Revolving
Commitments. Subject to the terms and conditions set forth herein, the Borrower may, at any time during the period commencing as of the Closing Date and ending as of the date twenty-four (24) months following the Closing Date, upon written
notice to the Agent, cause an increase or series of increases in the Revolving Committed Amount of up to the aggregate amount of such increases of Ten Million Dollars ($10,000,000.00) (to a total aggregate Revolving Committed Amount of not more than
Sixty Million Dollars ($60,000,000.00); provided that each of such increases shall be conditioned and effective upon the satisfaction of the following conditions: 
  

	 	(i)	the Borrower shall obtain commitments for the amount of the increase from existing Lenders or from other commercial banks or financial institutions that satisfy the
requirements of an Eligible Assignee, which other commercial banks and financial institutions shall join in this Agreement as Lenders by a Lender Joinder Agreement in form and substance reasonably acceptable to the Agent (it being understood that in
no case shall any Lender be required to increase its Revolving Commitment without its written consent); 

  

	 	(ii)	if any Revolving Loans are outstanding at any time of any such increase, the Borrower shall make such payments and adjustments on the Revolving Loans (including payment
of any break-funding amounts owing under Section 3.06) as may be necessary to give effect to the revised Revolving Commitment Percentages and amounts of Revolving Commitments; 

 

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	 	(iii)	the Borrower shall pay to M&T for its own account all fees required under the Fee Letter due in connection with the syndication of the increase in the Revolving
Committed Amount; 

  

	 	(iv)	the Borrower shall have executed any new or amended and restated Notes (to the extent requested by the Lenders) to reflect the revised amounts of Revolving Commitments;

  

	 	(v)	no Default or Event of Default shall be existing or shall exist after giving effect to any such increase; 

 

	 	(vi)	no event or condition shall have occurred and be continuing that is likely to have a Material Adverse Effect; 

 

	 	(vii)	The Borrower shall be in compliance with all financial covenants set forth in Sections 7.12 through 7.18 of this Agreement on a proforma basis on the date any such
increase is incurred and for the most recent determination period, after giving full effect to the Revolving Committed Amount including such increase, plus all of the other outstanding Obligations; 

 

	 	(viii)	The Total Leverage Ratio is less than 3.00 to 1.00 on a proforma basis on the date any such increase is incurred and for the most recent determination period, after
giving full effect to the Revolving Committed Amount including such increase, plus all of the other outstanding Obligations; 

  

	 	(ix)	The maturity date of any increase in the Revolving Commitments shall be no earlier than the Maturity Date; 

 

	 	(x)	Until all of the Convertible Senior Notes have been redeemed in full (on the terms and conditions set forth in this Agreement) or all Repurchase Dates thereof extended
to a date not less than one hundred eighty (180) days after January 1, 2014, the consent of 100% of the Lenders shall have been obtained; and 

  

	 	(xi)	The increase in the Revolving Commitments shall be on the same terms and conditions applicable under this Agreement and the other Loan Documents to the existing
Revolving Commitments, including but not limitation, the satisfaction of all conditions precedent to the making of a Revolving Loan set forth in Section 5.02 of this Agreement, or on such additional terms and conditions as are satisfactory to
the Required Lenders, and pursuant to Loan Documents satisfactory to the Agent. 

 In connection with any such increase in the
Revolving Commitments, Schedule 2.01 shall be revised to reflect the modified Revolving Commitments and Revolving Commitment 
  

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Percentages of the Lenders, and the Borrower shall provide supporting corporate resolutions, legal opinions, promissory notes and other items as may be reasonably requested by the Agent and the
Lenders in connection therewith. In the event that the existing Lenders provide commitments to fund any increase in an aggregate amount of commitments that is greater than the required amount of the increase, the Agent shall determine the final
allocation of the requested increase among the existing Lenders. 
 Section 2.02 Swingline Loan Subfacility 

 (a) During the Commitment Period, subject to the terms and conditions set forth herein, the Swingline Lender agrees to make
certain revolving credit loans (each, a “Swingline Loan” and collectively, the “Swingline Loans”) to the Borrower in dollars from time to time on any Business Day provided that, (i) the aggregate amount of
Swingline Loans outstanding at any time shall not exceed the Swingline Loan Dollar Cap and (ii) the sum of the aggregate amount of outstanding Revolving Loans plus Swingline Loans plus LC Obligations shall not exceed the Revolving Committed
Amount. Swingline Loans may be repaid and reborrowed in accordance with the provisions of this Agreement. Notwithstanding the foregoing, the Swingline Lender shall not be required to make a Swingline Loan if any Credit Party shall have notified the
Swingline Lender and the Borrower in writing at least one Business Day prior to the Borrowing Date with respect to such Swingline Loan, that the conditions set forth in Section 5.02 have not been satisfied and such conditions remain unsatisfied
as of the requested time of the making such Swingline Loan. Each Swingline Loan shall be due and payable on the maturity thereof, provided that in no event shall such maturity be later than the Swingline Maturity Date. 

(b) To request a Swingline Loan, the Borrower shall notify the Agent and the Swingline Lender by telephone (confirmed by telecopy) no
later than 1:00 p.m. on the proposed Borrowing Date. Each such notice shall be irrevocable and shall specify (i) the aggregate principal amount to be borrowed, (ii) the requested Borrowing Date, and (iii) the requested maturity date
of the requested Swingline Loan which shall be not later than fourteen (14) Business Days after the making of such Swingline Loan. The Swingline Lender will make the requested amount available promptly on that same day, to the Agent (for the
account of the Borrower) who, thereupon, will promptly make such amount available to the Borrower on such day in like funds as provided therein. Each Swingline Loan shall be in an aggregate amount that is an integral multiple of Twenty Five Thousand
Dollars ($25,000.00) and not less than Two Hundred Thousand Dollars ($200,000.00). 
 (c) The Swingline Lender may by written
notice given to the Agent not later than 10:00 a.m. on any Business Day require the Lenders having a Revolving Commitment to acquire participations on such Business Day in all or a portion of the Swingline Loans outstanding. Such notice shall
specify the aggregate amount of Swingline Loans in which the applicable Lenders will participate. Promptly upon receipt of such notice, the Agent will give notice thereof to each applicable Lender, specifying in such notice such Lender’s pro
rata percentage of the unused Revolving Commitments of such Swingline Loan or Swingline Loans. Each applicable Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above, to pay to the Agent, for the account of the
Swingline Lender, such Lender’s Revolving Commitment Percentage of such Swingline Loan or Swingline Loans. Each 

 

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applicable Lender acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant to this paragraph is absolute and unconditional and shall not be affected by
any circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the Revolving Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.
Each applicable Lender shall comply with its obligation under this Section by wire transfer of immediately available funds, at the same time and in the same manner as provided in Section 2.01(b)(ii) with respect to Revolving Loans made by such
applicable Lender, and the Agent shall promptly pay to the Swingline Lender the amounts so received by it from the Lenders. The Agent shall notify the Borrower of any participations in any Swingline Loan acquired pursuant to this Section, and
thereafter payments in respect of such Swingline Loan shall be made to the Agent and not to the Swingline Lender. Any amounts received by the Swingline Lender from the Borrower (or other party on behalf of the Borrower) in respect of a Swingline
Loan after receipt by the Swingline Lender of the proceeds of a sale of participations therein shall be promptly remitted to the Agent; any such amounts received by the Agent shall be promptly remitted by the Agent to the applicable Lenders that
shall have made their payments pursuant to this paragraph and to the Swingline Lender, as their interests may appear. The purchase of participations in a Swingline Loan pursuant to this Section shall not relieve the Borrower of any default by the
Borrower in the payment thereof. 
 Section 2.03 Letter of Credit Subfacility 

(a) General. Subject to the terms and conditions set forth herein, the Borrower may request the issuance of, and the Issuing
Lender in reliance upon the agreements of the Lenders set forth in Section 2.03(d) agrees to issue, Letters of Credit for Borrower’s own account, in a form acceptable to the Agent and the Issuing Lender, at any time and from time to time
on any Business Day from the Closing Date through, but not including the LC Expiration Date, provided, however, that (i) no Default or Event of Default has occurred and is then continuing, (ii) the aggregate amount of LC
Obligations (after giving effect to any requested issuance) shall not at any time exceed the Letter of Credit Sublimit, (iii) the sum of the aggregate amount of Revolving Loans plus Swingline Loans plus LC Obligations (after giving effect to
any requested issuance) shall not at any time exceed the Revolving Committed Amount, (iv) all Letters of Credit shall be denominated in dollars, and not in any other currency, (v) Letters of Credit shall be issued for lawful corporate
purposes and shall be issued as standby letters of credit, (v) the issuance of any Letter of Credit shall not violate any policies of the Issuing Lender; (vi) no Letter of Credit shall contain any provision for automatic reinstatement of
the stated amount after any drawing thereunder. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of Letter of Credit Application or other LC Document submitted by the
Borrower to, or entered into by the Borrower with, the Issuing Lender relating to any Letter of Credit, the terms and conditions of this Agreement shall control. 

(b) Request for Issuance; Amendment; Renewal; Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the
amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver or telecopy (or 

 

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transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Lender) to the Issuing Lender and the Agent (reasonably in advance of the requested date of
issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended together with a Letter of Credit Application on the Issuing Lender’s then
standard form, and specifying the proposed date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the
amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. Upon receipt of the Letter of Credit Application executed by
a duly authorized officer of the Borrower, the Issuing Lender shall process such Letter of Credit Application and issue the Letter of Credit requested thereby, provided all fees and expenses in connection with such Letter of Credit have been
paid and all other conditions precedent to the issuance of Letters of Credit have been satisfied and, provided further, the Issuing Lender shall not be required to issue any Letter of Credit earlier than three (3) Business Days after
receipt by the Issuing Lender of the Letter of Credit Application and of all of the certificates, documents and other papers and information required by the Issuing Lender which relate thereto. The Issuing Lender shall promptly furnish a copy of
each Letter of Credit to the Agent, the Borrower and to each of the Lenders. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall
be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension the proviso of Section 2.03(a) is satisfied. The Issuing Lender shall not be obligated to amend any Letter of Credit if the Issuing
Lender would not be required at such time to issue such Letter of Credit in its amended form under the terms of this Agreement. 

(c) Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i) the date
that is 365 days after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, 365 days after such renewal or extension) and (ii) the LC Expiration Date, provided that any Letter of Credit
may provide for the renewal thereof for additional 365-day periods (which shall in no event extend beyond the LC Expiration Date). 

(d) Agreement of Lenders To Purchase Proportionate Share of Letters of Credit. In order to induce the Issuing Lender to issue
Letters of Credit for the account of the Borrower in accordance with the terms of this Agreement, each Lender unconditionally and irrevocably agrees to accept and purchase and hereby accepts and purchases from the Issuing Lender, on the terms and
conditions hereinafter stated, for such Lender’s own account and risk an undivided interest equal to such Lender’s Revolving Commitment Percentage in the Issuing Lender’s obligations and rights under each Letter of Credit issued
hereunder and the amount of each LC Disbursement of the Issuing Lender. Each Lender unconditionally and irrevocably covenants to the Issuing Lender that, if an LC Disbursement is made by the Issuing Lender with respect to any Letter of Credit for
which the Issuing Lender is not immediately reimbursed in full by the Borrower, such Lender shall pay to the Agent, for the account of the Issuing Lender, upon the demand by the Agent, an amount equal to such Lender’s Revolving Commitment
Percentage of the unreimbursed amount of such LC Disbursement not later than 1:00 p.m. on the Business Day specified by the Agent in its demand for payment. Any payment made by a Lender pursuant

  

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to this paragraph to reimburse the Issuing Lender for any LC Disbursement shall not constitute a Loan and shall not relieve the Borrower of its obligation to reimburse such LC Disbursement.

 (e) Reimbursement Obligations of the Borrower. The Borrower unconditionally and irrevocably agrees to reimburse the
Issuing Lender on each date on which either the Issuing Lender or the Agent notifies the Borrower of an LC Disbursement for the amount of the LC Disbursement, including but not limited to the amount of any draft so paid and any taxes, charges, or
other costs or expenses incurred by the Issuing Lender in connection with such payment. Interest shall be payable on any and all amounts remaining unpaid by the Borrower under this Section from the date such amounts become payable hereunder until
payment in full at the Adjusted Base Rate. Each drawing under any Letter of Credit shall be deemed to automatically constitute a request by the Borrower to the Agent for an Adjusted Base Rate Borrowing of proceeds of the Revolving Loans in the
amount of such drawing to be made on the date on which either the Issuing Lender or the Agent notifies the Borrower of the drawing, and the proceeds of such Adjusted Base Rate Borrowing shall be advanced directly by the Agent to the Issuing Lender
for application to the Borrower’s reimbursement obligations set forth in this Section. 
 (f) Borrower’s
Reimbursement Obligations Are Absolute. The Borrower’s reimbursement obligations hereunder shall be absolute and unconditional under any and all circumstances and irrespective of any set-off, counterclaim or defense to payment which the
Borrower may have or has had against the Agent, the Issuing Lender, any of the Lenders, any beneficiary of a Letter of Credit or any other Person. The Borrower agrees that none of the Agent, the Issuing Lender, or the Lenders shall be responsible
for, nor shall the Borrower’s duties and obligations hereunder under the Loan Documents be affected by, among other things: (a) the form, validity, sufficiency, accuracy, genuineness or legal effect of any documents or of any endorsements
thereon presented in connection with any draft upon a Letter of Credit, even though such documents shall in fact prove to be invalid, fraudulent or forged; (b) any dispute between or among the Borrower and any beneficiary of any Letter of
Credit or any other party to which such Letter of Credit may be transferred; or (c) any claims whatsoever of the Borrower against any beneficiary of such Letter of Credit or any such transferee. None of the Agent, the Issuing Lender, or any of
the Lenders shall be liable for any error, omission, interruption or delay in transmission, dispatch or delivery of any message or advice, however transmitted, in connection with the issuance, administration, or payment of any drafts presented
against any Letter of Credit. The Borrower agrees that any action taken or omitted by the Agent, the Issuing Lender, or the Lenders under or in connection with any Letter of Credit or the related drafts or documents shall be binding on the Borrower
and shall not result in any liability of any of the Agent, the Issuing Lender, or the Lenders to the Borrower, absent gross negligence or willful misconduct. 

(g) Applicability of ISP98 and UCP. Unless otherwise expressly agreed by the Issuing Lender and the Borrower, when a Letter of
Credit is issued: (i) the rules of the ISP shall apply to each standby Letter of Credit; and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at
the time of issuance shall apply to any commercial Letter of Credit. 
  

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 (h) Interim Interest. If the Issuing Lender shall make any LC Disbursement, then,
unless the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date
that the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to Adjusted Base Rate Loans; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this
Section, then Section 3.01(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the Issuing Lender, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (d) of
this Section to reimburse the Issuing Lender shall be for the account of such Lender to the extent of such payment. 
 (i)
Cash Collateralization. Upon the request of the Agent: (a) if the Issuing Lender has honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an LC Borrowing; or (b) if, as of the LC
Expiration Date, any Letter of Credit for any reason remains outstanding and partially or wholly undrawn, the Borrower shall immediately “Cash Collateralize” all then outstanding LC Obligations (in an amount determined as of the date of
such LC Borrowing or the LC Expiration Date, as the case may be). As used herein, the term “Cash Collateralize” means to pledge and deposit with or deliver to the Agent, for the benefit of the Issuing Lender and the Lenders, as collateral
(“Cash Collateral”) for the LC Obligations, cash or deposit account balances pursuant to documentation in form and substance satisfactory to the Agent and the Issuing Lender (which documents are hereby consented to by the Lenders). The
Borrower hereby grants to the Agent, for the benefit of the Issuing Lender and the Lenders, a security interest in all such cash, deposit accounts and all balances therein and all proceeds of the foregoing. Cash Collateral shall be maintained in
blocked, non-interest bearing deposit accounts held by the Agent. 
 Section 2.04 Reduction and Termination of the
Revolving Commitments 
 (a) Voluntary Reductions. The Borrower shall have the right to terminate or permanently
reduce the unused portion of the Revolving Committed Amount at any time or from time to time upon not less than five (5) Business Day’s prior notice to the Agent (which shall notify the Lenders thereof as soon as practicable) of each such
termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction which shall be in a minimum amount of Five Million Dollars ($5,000,000.00) and shall be irrevocable and effective upon receipt by
the Agent; provided, that no such reduction or termination shall be permitted if after giving effect thereto, and to any prepayments of the Revolving Loans made on the effective date thereof, the sum of the then outstanding aggregate
principal amount of the Revolving Loans plus Swingline Loans plus LC Obligations would exceed the Revolving Committed Amount. 

(b) Termination Dates. Each Revolving Commitment shall automatically terminate on the Maturity Date, the LC Commitment shall
automatically terminate on the LC Expiration Date, and the Swingline Commitment shall automatically terminate on the Swingline Maturity Date. 
  

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 Section 2.05 Evidence of Loans. The Obligations of the Borrower to repay
the Revolving Loans shall be evidenced by the Revolving Notes and the Obligations of the Borrower to repay the Swingline Loan shall be evidenced by the Swingline Note. On the Closing Date, the Borrower shall execute and deliver (a) to each
Lender a Revolving Note in the stated principal amount equal to each Lender’s respective Revolving Commitment and (b) to the Swingline Lender, the Swingline Note in the stated principal amount equal to the Swingline Loan Dollar Cap.

 Section 2.06 Prepayments 

(a) Optional Prepayments. The Borrower shall have the right to prepay Loans in whole or in part from time to time; provided,
however, that (i) each partial prepayment of Loans (other than Swingline Loans) shall be in a minimum principal amount of Five Hundred Thousand Dollars ($500,000.00) and integral multiples of One Hundred Thousand ($100,000.00) in excess
thereof and (ii) each prepayment of Swingline Loans shall be in a minimum principal amount of Two Hundred Thousand Dollars ($200,000.00) and integral multiples of Twenty Five Thousand Dollars ($25,000.00) in excess thereof. The Borrower shall
give irrevocable written notice (or telephone notice promptly confirmed in writing which confirmation may be by fax) of any such voluntary prepayment to the Agent (which shall notify the Lenders thereof as soon as practicable) not later than 1:00
p.m. on the Business Day prior to the date of the requested prepayment in the case of Adjusted Base Rate Loans, and on the third Business Day prior to the date of the requested prepayment in the case of Eurodollar Loans. Subject to the foregoing
terms and subject to Section 3.06, amounts prepaid under this Section 2.06(a) shall be applied to Adjusted Base Rate Loans and to Eurodollar Loans in such amounts and in such order as the Borrower shall specify. All prepayments under this
Section 2.06(a) shall be subject to Section 3.06, but otherwise without premium or penalty. Interest on the principal amount prepaid shall be payable on the date of such prepayment. Amounts prepaid on the Swingline Loans and the Revolving
Loans may be reborrowed in accordance with the terms hereof. 
 (b) Mandatory Prepayments. 

(i) Revolving Committed Amount. If at any time after the Funding Date, the sum of the aggregate principal amount of
outstanding Revolving Loans plus Swingline Loans plus LC Obligations shall exceed the Revolving Committed Amount, the Borrower immediately shall prepay the Revolving Loans and (after all Revolving Loans have been repaid) Cash Collateralize the LC
Obligations, in an amount sufficient to eliminate such excess (such prepayment to be applied as set forth in clause (v) below). 

(ii) Asset Dispositions. Promptly following any Asset Disposition in any Fiscal Year, the Borrower shall prepay the
Loans in an aggregate amount equal to 100% of the Net Cash Proceeds derived from all such Asset Dispositions (such prepayment to be applied as set forth in clause (v) below); provided, however, that such Net Cash Proceeds shall not be
required to be so applied to the extent (A) the Borrower delivers to the Agent a certificate stating that it intends to use such Net Cash Proceeds to acquire fixed or capital assets in replacement of the disposed assets, and (B) such
acquisition is completed within one hundred eighty (180) days of receipt of the Net Cash Proceeds, it 
  

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being expressly agreed that any Net Cash Proceeds not so reinvested shall be applied to repay the Loans immediately thereafter. 

(iii) Issuances. Immediately upon receipt by any Loan Party of proceeds from (A) any Debt Issuance which is
made with the consent of the Required Lenders, the Borrower shall prepay the Loans in an aggregate amount equal to one hundred percent (100%) of the Net Cash Proceeds of such Debt Issuance (such prepayment to be applied as set forth in clause
(v) below) or (B) any Equity Issuance, the Borrower shall prepay the Revolving Loans in an aggregate amount equal to fifty percent (50%) of the Net Cash Proceeds of such Equity Issuance (such prepayment to be applied as set forth in
clause (v) below). 
 (iv) Recovery Event. To the extent cash proceeds are received in connection
with a Recovery Event and are not applied to repair, replace or relocate damaged property or to purchase or acquire fixed or capital assets in replacement of the assets lost or destroyed within one hundred eighty (180) days of the receipt of
such cash proceeds, the Borrower shall prepay the Revolving Loans in an aggregate amount equal to one hundred percent (100%) of the Net Cash Proceeds not so applied (such prepayment to be applied as set forth in clause (v) below).

 (v) Application of Mandatory Prepayments. All amounts required to be paid pursuant to this
Section 2.06(b) shall be applied as follows: (A) with respect to all amounts prepaid pursuant to Section 2.06(b)(i), to the Revolving Loans and then (after all Revolving Loans have been repaid) to a Cash Collateral account in respect
of LC Obligations, (B) with respect to all amounts prepaid pursuant to Sections 2.06(b)(ii) through (iv), (1) to the Revolving Loans without a corresponding permanent reduction of the Revolving Commitments and (after all Revolving Loans
have been repaid) to a Cash Collateral account in respect of LC Obligations. Within the parameters of the applications set forth above, prepayments shall be applied first to Adjusted Base Rate Loans and then to Eurodollar Loans in direct order of
Interest Period maturities. All prepayments under this Section 2.06(b) shall be subject to Section 3.06 and be accompanied by accrued interest on the principal amount prepaid to the date of prepayment. 

Section 2.07 Minimum Borrowing Amounts; Interest Rate Tranches 

(a) Each Adjusted Base Rate Loan (other than Swingline Loans) Borrowing shall be in a minimum amount of Five Hundred Thousand Dollars
($500,000.00) and whole multiples of One Hundred Thousand Dollars ($100,000.00) in excess thereof. 
 (b) Each Eurodollar Loan
borrowing shall be in a minimum amount of Five Hundred Thousand Dollars ($500,000.00) and whole multiples of One Hundred Thousand Dollars ($100,000.00) in excess thereof. 

(c) No more than ten (10) interest rate tranches may be in effect at any time under the Revolving Loans. 

 

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 Section 2.08 Payments Generally; Pro Rata Treatment; Sharing of Setoffs 

 (a) Each Loan Party shall make each payment required to be made by it hereunder or under any other Loan Document (whether of
principal of Loans, interest or fees, or of amounts payable under Section 3.05, 3.06, 3.07 or 10.03, or otherwise) prior to 12:00 noon on the date when due, in immediately available funds, without setoff or counterclaim. Any amounts received
after such time on any date may, in the discretion of the Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Agent at its office at 1
M&T Plaza, Buffalo, New York 14203, or such other office as to which the Agent may notify the other parties hereto, except that payments pursuant to Sections 3.05, 3.06, 3.07 and 10.03 shall be made directly to the Persons entitled thereto. The
Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof together with, in the case of payments due to any Lender, interest thereon at the Federal
Funds Rate, with respect to any payment which the Agent receives from any Loan Party by 12:00 Noon and does not distribute to such Lender on the same Business Day. If any payment hereunder shall be due on a day that is not a Business Day, the date
for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments hereunder shall be made in dollars. 

(b) If at any time insufficient funds are received by and available to the Agent to pay fully all amounts of principal of Loans,
interest, fees and commissions then due hereunder, such funds shall be applied (i) first, towards payment of interest, fees and commissions then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of
interest, fees and commissions then due to such parties and (ii) second, towards payment of principal of Loans then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal of Loans then due to such
parties. 
 (c) If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect
of any principal of, or interest on, any of its Loans resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Loans and accrued interest thereon than the proportion received by any other applicable Lender,
then the applicable Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Loans of other applicable Lenders to the extent necessary so that the benefit of all such payments shall be shared by the
applicable Lenders ratably in accordance with the aggregate amount of principal of, and accrued interest on, their respective Loans, provided that (i) if any such participations are purchased and all or any portion of the payment giving
rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment made by
the Borrower pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans to any Assignee or Participant, other than
to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). Each Loan Party consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender
acquiring a participation pursuant to the foregoing arrangements may exercise against such Loan Party rights of setoff and 
  

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counterclaim with respect to such participation as fully as if such Lender were a direct creditor of such Loan Party in the amount of such participation. 

(d) Unless the Agent shall have received notice from a Lender prior to a Borrowing Date that such Lender will not make available to the
Agent such Lender’s share of the requested Borrowings, the Agent may assume that such Lender has made such share available on such date and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such
event, if a Lender has not in fact made its share of the applicable Borrowing available to the Agent, then the applicable Lender and the Borrower severally agree to pay to the Agent forthwith on demand such corresponding amount with interest
thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Agent, at (i) in the case of a payment to be made by such Lender, the greater of the Federal Funds Rate
and a rate determined by the Agent in accordance with banking industry rules on interbank compensation and (ii) in the case of a payment to be made by Borrower, at the Adjusted Base Rate. If the Borrower and such Lender shall pay such interest
to the Agent for the same or an overlapping period, the Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Lender pays its share of the applicable Borrowing to the Agent, then the
amount so paid shall constitute such Lender’s Revolving Loan included in such Borrowing. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to
the Agent. 
 (e) If any Credit Party shall fail to make any payment required to be made by it pursuant to
Section 2.01(b)(ii), 2.02(c) or 2.03(d), then the Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Agent for the account of such Credit Party to satisfy such Credit
Party’s obligations under such Sections until all such unsatisfied obligations are fully paid. 
 ARTICLE 3 INTEREST, FEES, YIELD
PROTECTION, ETC. 
 Section 3.01 Interest 

(a) Adjusted Base Rate Borrowings and Swingline Loans shall bear interest at the Adjusted Base Rate. 

(b) Eurodollar Borrowings shall bear interest at the Adjusted LIBOR Rate for the Interest Period in effect for such Borrowing.

 (c) Notwithstanding the foregoing, if an Event of Default has occurred and is continuing, then, so long as such Event of
Default is continuing, all principal of and interest on each Loan and each fee and other amount payable by the Borrower hereunder shall bear interest, after as well as before judgment, at a rate per annum equal to (i) in the case of principal
of any Loan, 2% plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section or (ii) in the case of any other amount, 2% plus the Adjusted Base Rate. 

 

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 (d) Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date
for such Loan and with respect to Revolving Loans, on the Maturity Date, and, with respect to Swingline Loans, on the Swingline Maturity Date, provided that (i) interest accrued pursuant to paragraph (c) of this Section shall be
payable on demand, and (ii) in the event of any conversion of any Eurodollar Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion. 

(e) All interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to the Base
Rate at times when the Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but
excluding the last day). The applicable Base Rate or LIBOR Rate shall be determined by the Agent, and such determination shall be conclusive absent clearly demonstrable error. 

(f) Any payment of principal, interest or fees due upon any of the Loans which is received by the Agent more than fifteen
(15) calendar days after its due date shall incur a late payment charge equal to five percent (5%) of the amount of the payment due. All late payment charges shall be payable upon the demand of the Agent. The existence of the right by the
Lenders to receive a late payment charge shall not be deemed to constitute a grace period or provide any right to the Borrower to make a payment other than on such payment’s scheduled due date. 

Section 3.02 Interest Elections 

(a) Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar
Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurodollar Borrowing, may
elect Interest Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the applicable
Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. 

(b) To make an election pursuant to this Section, the Borrower shall notify the Agent of such election in writing by the time that a
Borrowing Request would be required under Section 2.01(b)(i) if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such Interest Election Request shall be
irrevocable, shall be delivered by hand or telecopy to the Agent in a form approved by the Agent and shall be signed by the Borrower. 

(c) Each Interest Election Request shall be in the form attached hereto as Exhibit F and shall specify the following information:

 (i) the Borrowing to which such Interest Election Request applies and, if different options are being elected
with respect to different portions thereof, the 
  

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portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) of this paragraph shall be specified for
each resulting Borrowing); 
 (ii) the effective date of the election made pursuant to such Interest Election
Request, which shall be a Business Day; 
 (iii) whether the resulting Borrowing is to be an Adjusted Base Rate
Borrowing or a Eurodollar Borrowing; and 
 (iv) if the resulting Borrowing is a Eurodollar Borrowing, the
Interest Period to be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period”. 

If any such Interest Election Request requests a Eurodollar Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have
selected an Interest Period of one month’s duration. 
 (d) Promptly following receipt of an Interest Election Request, the
Agent shall advise each applicable Lender of the details thereof and of such Lender’s portion of each resulting Borrowing. 

(e) If the Borrower fails to deliver a timely Interest Election Request prior to the end of the Interest Period applicable thereto, then,
unless such Borrowing is repaid as provided herein, at the end of such Interest Period, such Borrowing shall be converted to an Adjusted Base Rate Borrowing. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is
continuing, and without limiting any rights and remedies of the Credit Parties, the right of the Borrower to elect any Eurodollar Borrowing, shall terminate and all the existing Eurodollar Borrowings shall be converted (on the last day of the
respective Interest Periods) to Adjusted Base Rate Borrowings. 
 Section 3.03 Fees 

(a) Fee Letter. The Borrower agrees to pay to the Agent all fees and other amounts payable in the amounts and at the times set
forth in the Fee Letter. 
 (b) Commitment Fee. In consideration of the Revolving Commitments, the Borrower agrees to pay
to the Agent for the ratable benefit of the Lenders holding a Revolving Commitment, a fee (the “Commitment Fee”) equal to the Applicable Rate for Commitment Fees per annum on the average daily unused amount of the Revolving
Committed Amount. For purposes of computing the Commitment Fee hereunder, (i) the LC Obligations shall be considered usage under the aggregate Revolving Committed Amount and (ii) Swingline Loans shall not be considered usage under the
aggregate Revolving Committed Amount. The Commitment Fee shall be payable quarterly in arrears on the last day of each calendar quarter and upon termination of the Revolving Commitments. 

(c) Letter of Credit Fees. In consideration of the Letters of Credit, the Borrower shall pay the following fees: (i) the
Borrower shall pay to the Agent for the ratable 
  

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benefit of the Lenders a per annum fee with respect to each Letter of Credit in an amount equal to that sum obtained by multiplying the face amount of each Letter of Credit by the Applicable Rate
for LC Issuance Fees in effect on the date of the issuance or renewal of the Letter of Credit (“LC Issuance Fee”), provided, however, during any continuing Event of Default, the LC Issuance Fee shall be increased to a rate per annum
which is two percent (2%) plus the Applicable Rate for LC Issuance Fees otherwise in effect, which LC Issuance Fees shall be payable quarterly in advance on the date of issuance and thereafter on the first day of each calendar quarter;
(ii) the Borrower shall pay directly to the Issuing Lender for its own account a fronting fee equal to 0.125% multiplied by the face amount of each Letter of Credit issued by the Issuing Lender (“LC Fronting Fee”), which LC
Fronting Fee shall be payable quarterly in advance on the date of issuance and thereafter on the first day of each calendar quarter; (iii) the Borrower shall pay directly to the Issuing Lender for its own account the customary issuance,
presentation, amendment and other processing fees, and other standard costs and charges, of the Issuing Lender relating to letters of credit as from time to time in effect, and such customary fees and standard costs and charges shall be due and
payable on demand and are nonrefundable. 
 (d) Payment and Computation of Fees. All fees and other amounts payable
hereunder shall be paid on the dates due, in immediately available funds, to the Agent for distribution, in the case of Commitment Fees and LC Issuance Fees, to the Lenders. Fees and other amounts paid shall not be refundable under any
circumstances. Commitment Fees and the LC Issuance Fees shall be computed based upon a three hundred sixty (360) day year for the actual number of days elapsed. 

Section 3.04 Alternate Rate of Interest 

If prior to the commencement of any Interest Period for a Eurodollar Borrowing: 

(a) the Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist
for ascertaining the Adjusted LIBOR Rate or the LIBOR Rate, as applicable, for such Interest Period; or 
 (b) the Agent is
advised by any applicable Lender that the Adjusted LIBOR Rate or the LIBOR Rate, as applicable, for such Interest Period will not adequately and fairly reflect the cost to such Lender of making or maintaining its Loan included in such Borrowing for
such Interest Period; then the Agent shall give notice thereof to the Borrower and the applicable Lenders by telephone or telecopy as promptly as practicable thereafter and, until the Agent notifies the Borrower and the applicable Lenders that the
circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective, and (ii) if any
Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made as an Adjusted Base Rate Borrowing. 

Section 3.05 Increased Costs; Illegality 

(a) If the adoption or change of any Law, rule, or any change in the interpretation or administration thereof by any Governmental
Authority, central bank, or comparable agency charged with the interpretation or administration thereof, or compliance by 
  

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any Credit Party with any request or directive (whether or not having the force of law) of any such Governmental Authority, central bank, or comparable agency or any Regulatory Change after the
Closing Date: (i) subjects such Credit Party to any tax, duty, or other charge with respect to any Loan or Note, or changes the basis of taxation of any amounts payable to such Credit Party under this Agreement or any Note in respect of any
Loan or otherwise with respect to any Obligations (other than taxes imposed on the overall net income of such Credit Party by the jurisdiction in which such Credit Party has its principal office); (ii) imposes, modifies, or deems applicable any
reserve, special deposit, assessment, compulsory loan, or similar requirement (other than the Reserve Requirement utilized in the determination of the Adjusted LIBOR Rate) relating to any extensions of credit or other assets of, or any deposits with
or other liabilities or commitments of, such Credit Party, including the applicable Loans extended by such Credit Party hereunder or any other Obligations owing to such Credit Party; or (iii) imposes on such Credit Party or the applicable
interbank market any other condition affecting this Agreement or any Note or any Obligation or any of such extensions of credit or liabilities or commitments or the costs of deposits maintained by any Credit Party in obtaining funds to carry any of
the Loans or Obligations; and the result of any of the foregoing is to increase the cost to such Credit Party of the making, converting into, continuing, or maintaining or participating in any Loan or to reduce any yield or sum received or
receivable by such Credit Party under this Agreement or any Note with respect to any Loan or other Obligation, then the Borrower shall pay to such Credit Party on demand such amount or amounts as will compensate such Credit Party for such increased
cost or reduction. 
 (b) If any Credit Party determines that the adoption or change of any Capital Adequacy Requirement or
change in the interpretation or administration thereof by any Governmental Authority, central bank, or comparable agency charged with the interpretation or administration thereof, or any request or directive regarding capital adequacy (whether or
not having the force of law) of any such Governmental Authority, central bank, or comparable agency after the Closing Date has or would have the effect of reducing the rate of return on the capital of such Credit Party or any corporation controlling
such Credit Party as a consequence of such Credit Party’s Obligations hereunder to a level below that which such Credit Party or such corporation could have achieved but for such adoption, change, request, or directive (taking into
consideration its policies with respect to capital adequacy), then from time to time upon demand the Borrower shall pay to such Credit Party such additional amount or amounts as will compensate such Credit Party for such reduction. 

(c) A certificate of a Credit Party setting forth the amount or amounts necessary to compensate such Credit Party or its holding company,
as applicable, as specified in paragraph (a) or (b) of this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Credit Party the amount shown as due on any such certificate
within 10 days after receipt thereof. 
 (d) Failure or delay on the part of any Credit Party to demand compensation pursuant to
this Section shall not constitute a waiver of such Credit Party’s right to demand such compensation; provided that the Borrower shall not be required to compensate a Credit Party pursuant to this Section for any increased costs or
reductions incurred more than ninety (90) days prior to the date that such Credit Party notifies the Borrower of the adoption or change of any Capital Adequacy Requirement or any other Change in Law giving rise to such increased costs

  

 - 42 - 

 
or reductions as specified in Paragraphs (a) or (b) of this Section and of such Credit Party’s intention to claim compensation therefor; provided further that, if the
adoption or change of any Capital Adequacy Requirement or any other Change in Law giving rise to such increased costs or reductions is retroactive, then the 90-day period referred to above shall be extended to include the period of retroactive
effect thereof. 
 (e) Notwithstanding any other provision of this Agreement, if, after the date of this
Agreement, any Change in Law shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written notice to the Borrower and
to the Agent: 
 (i) such Lender may declare that Eurodollar Loans will not thereafter (for the duration of such
unlawfulness) be made by such Lender hereunder (or be continued for additional Interest Periods and Adjusted Base Rate Loans will not thereafter (for such duration) be converted into Eurodollar Loans), whereupon any request for a Eurodollar
Borrowing or to convert an Adjusted Base Rate Borrowing to a Eurodollar Borrowing or to continue a Eurodollar Borrowing, as applicable, for an additional Interest Period shall, as to such Lender only, be deemed a request for an Adjusted Base Rate
Loan (or a request to continue an Adjusted Base Rate Loan as such for an additional Interest Period or to convert a Eurodollar Loan into an Adjusted Base Rate Loan, as applicable), unless such declaration shall be subsequently withdrawn; and

 (ii) such Lender may require that all outstanding Eurodollar Loans made by it be converted to Adjusted Base
Rate Loans, in which event all such Eurodollar Loans shall be automatically converted to Adjusted Base Rate Loans, as of the effective date of such notice as provided in the last sentence of this paragraph. 

In the event any Lender shall exercise its rights under (i) or (ii) of this paragraph, all payments and prepayments of principal that would
otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Adjusted Base Rate Loans made by such Lender in lieu of, or
resulting from the conversion of, such Eurodollar Loans, as applicable. For purposes of this paragraph, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan made by such Lender, if lawful, on the last day of the
Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt by the Borrower. 

Section 3.06 Break Funding Payment 

In the event of (a) the payment or prepayment (whether voluntary or as a result of the acceleration of the Loan or otherwise) of any
principal of any Eurodollar Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurodollar Loan other than on the last day of the Interest Period
applicable thereto, (c) the failure to borrow, convert, continue or prepay any Eurodollar Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice may be revoked under the terms of this Agreement and
is revoked in accordance therewith), or (d) any assignment of a Eurodollar Loan on a day other than the last day of the Interest Period 

 

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therefor as a result of a request by the Borrower pursuant to Section 3.08(b), then, in any such event, the Borrower shall compensate each Lender for the loss, cost and expense attributable
to such event. In the case of a Eurodollar Loan, such loss, cost or expense to any Lender shall be deemed to include an amount determined by such Lender to be the excess, if any, of (i) the amount of interest that would have accrued on the
principal amount of such Loan had such event not occurred, at the Adjusted LIBOR Rate that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the
case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest that would accrue on such principal amount for such period at the interest rate that such
Lender would bid were it to bid, at the commencement of such period, for dollar deposits of a comparable amount and period from other banks in the eurodollar market. A certificate of any Lender setting forth any amount or amounts that such Lender is
entitled to receive pursuant to this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within ten (10) days after receipt
thereof. 
 Section 3.07 Taxes 

(a) Any and all payments by or on account of any obligation of any Loan Party hereunder and under any other Loan Document shall be made
free and clear of and without deduction for any Indemnified Taxes or Other Taxes, provided that, if such Loan Party shall be required to deduct any Indemnified Taxes or Other Taxes from such payments, then (i) the sum payable shall be
increased as necessary so that, after making all required deductions (including deductions applicable to additional sums payable under this Section), the applicable Credit Party receives an amount equal to the sum it would have received had no such
deductions been made, (ii) such Loan Party shall make such deductions and (iii) such Loan Party shall pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law. 

(b) In addition, the Loan Parties shall pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law.

 (c) Each Loan Party shall indemnify each Credit Party, within ten days after written demand therefor, for the full amount of
any Indemnified Taxes or Other Taxes paid by such Credit Party on or with respect to any payment by or on account of any obligation of such Loan Party under the Loan Documents (including Indemnified Taxes or Other Taxes imposed or asserted on or
attributable to amounts payable under this Section) and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by
the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by a Credit Party, or by the Agent on its own behalf or on behalf of a Credit Party, shall be conclusive absent manifest
error. 
 (d) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the Borrower to a Governmental
Authority, the Borrower shall deliver to the Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably
satisfactory to the Agent. 
  

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 (e) Any Foreign Lender that is entitled to an exemption from or reduction of withholding tax
under the law of the jurisdiction in which the relevant Loan Party is located, or any treaty to which such jurisdiction is a party, with respect to payments under the Loan Documents shall deliver to the Borrower (with a copy to the Agent), at the
time or times prescribed by applicable law, such properly completed and executed documentation prescribed by applicable law or reasonably requested by the Borrower as will permit such payments to be made without withholding or at a reduced rate.

 Section 3.08 Mitigation Obligations; Replacement of Lenders 

(a) If any Lender requests compensation under Section 3.05, or if the Borrower is required to pay any additional amount to any
Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.07, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans (or any participation therein)
hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the reasonable judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant
to Section 3.05 or 3.07, as applicable, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable
costs and expenses incurred by any Lender in connection with any such designation or assignment. 
 (b) If any Lender requests
compensation under Section 3.05, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.07, or if any Lender is a Defaulting Lender, or if
in connection with any proposed amendment, modification, termination, waiver or consent with respect to any terms of the Credit Documents as contemplated by Section 10.02, the consent of the Required Lenders has been obtained but the consent of
a Lender whose consent is required shall not have been obtained, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Agent, require any of such Lenders to assign and delegate, without recourse (in accordance
with and subject to the restrictions contained in, and consents required by, Section 10.04), all of its interests, rights and obligations under this Agreement and the related Loan Documents to an assignee that shall assume such obligations
(which assignee may be another Lender, if a Lender accepts such assignment) , provided that 
 (i) the
Borrower shall have paid to the Agent the assignment fee specified in Section 10.04(b); 
 (ii) such Lender
shall have received payment of an amount equal to the outstanding principal of its Revolving Loan, and (without duplication) participations in LC Distributions and Swingline Loans, accrued interest thereon, accrued fees and all other amounts payable
to it hereunder and under the other Loan Documents (including any amounts under Section 3.06) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts);

 (iii) in the case of any such assignment resulting from a claim for

  

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compensation under Section 3.05 or payments required to be made pursuant to Section 3.07, such assignment will result in a reduction in such compensation or payments thereafter; and

 (iv) such assignment does not conflict with applicable laws. 

A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the
circumstances entitling the Borrower to require such assignment and delegation cease to apply. 
 ARTICLE 4 REPRESENTATIONS AND WARRANTIES

 The Borrower represents and warrants to the Credit Parties that: 

Section 4.01 Organization; Powers. Each of the Borrower and the Subsidiaries is duly organized, validly existing and
in good standing under the laws of the jurisdiction of its organization, has all requisite power and authority to carry on its business as now conducted and, except where the failure to do so, individually or in the aggregate, could not reasonably
be expected to result in a Material Adverse Effect, is qualified to do business in, and is in good standing in, every jurisdiction where such qualification is required. 

Section 4.02 Authorization; Enforceability. The Transactions are within the corporate, partnership or other analogous
powers of each of the Borrower and the Subsidiaries to the extent it is a party thereto and have been duly authorized by all necessary corporate, partnership or other analogous and, if required, equityholder action. Each Loan Document has been duly
executed and delivered by each of the Borrower and the Subsidiaries to the extent it is a party thereto and constitutes a legal, valid and binding obligation thereof, enforceable in accordance with its terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally. 
 Section 4.03
Governmental Approvals; No Conflicts. The Transactions (a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except such as have been obtained or made and are
in full force and effect, (b) will not violate any applicable law or regulation or the charter, by-laws or other organizational documents of the Borrower or any of the Subsidiaries or any order of any Governmental Authority, (c) will not
violate or result in a default under any indenture, agreement or other instrument binding upon the Borrower or any of the Subsidiaries or its assets, or give rise to a right thereunder to require any payment to be made by the Borrower or any of the
Subsidiaries, and (d) will not result in the creation or imposition of any Lien on any asset of the Borrower or any of the Subsidiaries (other than Liens permitted by Section 7.02). 

Section 4.04 Financial Condition; No Material Adverse Change 

(a) The Borrower has heretofore furnished to the Agent its consolidated and consolidating balance sheets and statements of income,
stockholders equity and cash flows of the Borrower and the Subsidiaries as of and for the Fiscal Year ended June 30, 2009, reported on by KPMG, LLP, and its quarterly consolidated financing statement for the fiscal quarter ending

  

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March 31, 2010. The consolidated financial statements referred to above present fairly, in all material respects, the financial position and results of operations and cash flows of the
Borrower and consolidated Subsidiaries as of such dates and for the indicated periods in accordance with GAAP and are consistent with the books and records of the Borrower (which books and records are correct and complete). 

(b) Since June 30, 2009, (i) there has been no material adverse change in the business, assets, operations, prospects or
condition, financial or otherwise, of the Borrower and the Subsidiaries, taken as a whole, or (ii) in the facts and information given to M&T regarding the Borrower and the Subsidiaries. 

Section 4.05 Properties 

(a) Each of the Borrower and the Subsidiaries has good title to, or valid leasehold interests in, all its real and personal property
material to its business, except for minor defects in title that do not interfere with its ability to conduct its business as currently conducted or to utilize such properties for their intended purposes. 

(b) Each of the Borrower and the Subsidiaries owns, or is entitled to use, all trademarks, tradenames, copyrights, patents and other
intellectual property material to its business, and the use thereof by the Borrower and the Subsidiaries does not infringe upon the rights of any other Person, except for any such infringements that, individually or in the aggregate, could not
reasonably be expected to result in a Material Adverse Effect. 
 Section 4.06 Litigation and Environmental
Matters 
 (a) Except for the matters disclosed on Schedule 4.06 attached hereto (collectively, “Disclosed
Matters”), there are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending against or, to the knowledge of the Borrower, threatened against or affecting the Borrower or any of the Subsidiaries
(i) that, if adversely determined, could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect (other than the Disclosed Matters) or (ii) that involve any Loan Document or the Transactions.

 (b) Except for the Disclosed Matters and except with respect to any other matters that, individually or in the aggregate,
could not reasonably be expected to result in a Material Adverse Effect, neither the Borrower nor any of its Subsidiaries (i) have failed to comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other
approval required under any Environmental Law, (ii) have become subject to any Environmental Liability, (iii) have received notice of any claim with respect to any Environmental Liability or (iv) know of any basis for any
Environmental Liability. 
 Section 4.07 Compliance with Laws and Agreements. Each of the Borrower and the
Subsidiaries is in material compliance with all laws, regulations and orders of any Governmental Authority applicable to it or its property and all indentures, agreements and other instruments binding upon it or its property. No Default or Event of
Default has occurred and is continuing. 
  

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 Section 4.08 Investment and Holding Company Status. Neither the Borrower
nor any of the Subsidiaries are (a) an “investment company” as defined in, or subject to regulation under, the Investment Company Act of 1940 or (b) a “holding company” as defined in, or subject to regulation under, the
Public Utility Holding Company Act of 1935; nor are any of them subject to any other statute or regulation which prohibits or restricts the incurrence of Indebtedness under the Loan Documents or otherwise. 

Section 4.09 Taxes. Each of the Borrower and the Subsidiaries has timely filed or caused to be filed all tax returns
and reports required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it, except (a) Taxes that are being contested in good faith by appropriate proceedings and for which the Borrower or such
Subsidiary, as applicable, has set aside on its books adequate reserves in accordance with GAAP and satisfactory to the Agent, or (b) to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse
Effect. 
 Section 4.10 ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when
taken together with all other such ERISA Events for which liability is reasonably expected to occur, could reasonably be expected to result in a Material Adverse Effect. The present value of all accumulated benefit obligations under each Plan (based
on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the date of the most recent financial statements reflecting such amounts, exceed the fair market value of the assets of such Plan, and
the present value of all accumulated benefit obligations of all underfunded Plans (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the date of the most recent financial statements
reflecting such amounts, exceed the fair market value of the assets of all such underfunded Plans. 
 Section 4.11
Disclosure. None of the reports, financial statements, certificates or other information furnished by or on behalf of the Borrower or any Subsidiary to any Credit Party in connection with the negotiation of the Loan Documents or delivered
thereunder (as modified or supplemented by other information so furnished) contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading, provided that, with respect to projected financial information, the Borrower represents only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time. 

Section 4.12 Subsidiaries. Schedule 4.12 sets forth the name of, and the ownership interest of the Borrower in,
each Subsidiary and identifies each Subsidiary that is a Subsidiary Guarantor, in each case as of the Effective Date. 

Section 4.13 Insurance. Schedule 4.13 sets forth a description of all insurance maintained by or on behalf of
the Borrower and the Subsidiaries as of the Effective Date. As of the Effective Date, all premiums in respect of such insurance that are due and payable have been paid. 

Section 4.14 Labor Matters. As of the Effective Date, there are no strikes, lockouts or slowdowns against the Borrower
or any Subsidiary pending or, to the knowledge of the Borrower, threatened. The hours worked by and payments made to employees of the Borrower 

 

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and the Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable Federal, state, local or foreign law dealing with such matters, except where any such
violations, individually and in the aggregate, would not be reasonably likely to result in a Material Adverse Effect. All material payments due from the Borrower or any Subsidiary, or for which any claim may be made against the Borrower or any
Subsidiary, on account of wages and employee health and welfare insurance and other benefits, have been paid or accrued as a liability on the books of the Borrower or such Subsidiary. The consummation of the Transactions will not give rise to any
right of termination or right of renegotiation on the part of any union under any collective bargaining agreement to which the Borrower or any Subsidiary is bound. 

Section 4.15 Solvency. Immediately following the consummation of the Transactions and thereafter following the making
of each Loan and after giving effect to the application of the proceeds of such Loan (a) the fair value of the assets of the Borrower and the Subsidiaries, taken as a whole, at a fair valuation, will exceed their debts and liabilities,
subordinated, contingent or otherwise; (b) the present fair saleable value of the property of the Borrower and the Subsidiaries, taken as a whole, will be greater than the amount that will be required to pay the probable liability of their
debts and other liabilities, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured; (c) each of the Borrower and the Subsidiary Guarantors will be able to pay its debts and liabilities,
subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured; and (d) each of the Borrower and the Subsidiary Guarantors will not have unreasonably small capital with which to conduct the business in which it
is engaged as such business is now conducted and is proposed to be conducted following such date. 
 Section 4.16
Security Documents 
 (a) The Security Agreements are effective to create in favor of the Agent, for the ratable
benefit of the Secured Parties, a legal, valid and enforceable security interest in the Collateral described therein and, when (i) the property constituting such Collateral (for which possession is required for perfection) is delivered to the
Agent, (ii) the financing statements in appropriate form are filed in the offices specified on Schedule 6 to the Perfection Certificate and (iii) all other applicable filings under the Uniform Commercial Code or otherwise that are required
under the Loan Documents are made, the Security Agreements shall constitute a fully perfected Lien on, and security interest in, all right, title and interest of the grantors thereunder in such Collateral (other than the Intellectual Property (as
defined in the Security Agreements)), in each case prior and superior in right to any other Person, other than with respect to Liens expressly permitted by Section 7.02. 

(b) When the applicable Security Agreements are filed in the United States Patent and Trademark Office and the United States Copyright
Office, such Security Agreements shall constitute fully perfected Liens on, and security interests in, all right, title and interest of the Borrower and the Subsidiary Guarantors in the Intellectual Property (as defined in the Security Agreements)
in which a security interest may be perfected by filing, recording or registering a security agreement, financing statement or analogous document in the United States Patent and Trademark Office or the United States Copyright Office, as applicable,
in each case prior and superior in right to any other Person, other than with respect to Liens expressly permitted by Section 7.02 (it being understood that subsequent recordings in the United States Patent and

  

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Trademark Office and the United States Copyright Office may be necessary to perfect a Lien on registered trademarks, trademark applications and copyrights acquired by the Borrower and the
Subsidiary Guarantors after the date hereof). 
 (c) The Mortgages are effective to create in favor of the Agent for the ratable
benefit of the Secured Parties, a legal, valid and enforceable Lien on the real property an improvements thereon more particularly described in each such Mortgage and when filed in the land records of the appropriate jurisdiction where such real
property is located shall constitute a fully perfected first mortgage lien upon such real property and improvements, subject only to permitted liens described therein. The stated secured principal amount of the Mortgages granted by the Borrower on
the real property of the Borrower located in the State of New York which are to be recorded upon Closing shall be limited to a stated principal amount not to exceed Three Million Dollars ($3,000,000.00); provided however, the Agent shall hold in its
possession additional Mortgages upon the real property of the Borrower located in the State of New York securing the remaining stated principal amount of Revolving Committed Amount, which Mortgages (“Springing Mortgages”) shall not
be recorded unless the Required Lenders elect, after the occurrence of a Default or an Event of Default, to record such Springing Mortgages. The Borrower agrees to pay all costs of recordation of the Mortgages (including the Springing Mortgages),
including without limitation, all recording taxes and costs, documentary taxes, transfer taxes and the like. 

Section 4.17 Federal Reserve Regulations 

(a) Neither the Borrower nor any of the Subsidiaries are engaged principally, or as one of their important activities, in the business of
extending credit for the purpose of buying or carrying Margin Stock. 
 (b) No part of the proceeds of any Loan will be used,
whether directly or indirectly, and whether immediately, incidentally or ultimately, to purchase, acquire or carry any Margin Stock or for any purpose that entails a violation of, or that is inconsistent with, the provisions of the regulations of
the FRB, including Regulation T, U or X. 
 Section 4.18 Seller Notes and Convertible Senior Notes

 (a) All Seller Notes have been paid in full prior to the Closing Date. 

(b) As of the Closing Date, the aggregate principal balance outstanding under the Convertible Senior Notes is not greater than
$39,650,000. 
 ARTICLE 5 CONDITIONS 

Section 5.01 Initial Extensions of Credit. The Revolving Commitments and the obligations of the Lenders to make
Extensions of Credit hereunder shall not become effective until the date, on which each of the following conditions is satisfied (or waived in accordance with Section 10.02): 

 

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 (a) Document Deliveries. The Agent shall have received each of the following (with a
copy for each Lender): 
 (i) Either (A) a counterpart of this Agreement signed on behalf of each party
hereto or (B) written evidence satisfactory to the Agent (which may include telecopy transmission of a signed signature page of this Agreement) that each party has signed a counterpart of this Agreement, and Notes executed by the Borrower in
favor of each Lender requesting a Note. 
 (ii) A favorable written opinion (addressed to the Credit Parties and
dated the Effective Date) of counsel to the Borrower, in form and substance and covering such other matters relating to the Loan Parties, the Loan Documents or the Transactions as the Agent shall reasonably request. 

(iii) A certificate, dated the Effective Date, of the Secretary or an Assistant Secretary of the Borrower and each
Subsidiary Guarantor: 
 (1) attaching resolutions of its Board of Directors, and, if necessary, its shareholders
then in full force and effect authorizing the execution, delivery and performance of this Agreement, the Notes, the Guaranty Agreements, the Security Documents, the Mortgages, the other Loan Documents, and the related transactions contemplated in
connection herewith and therewith, 
 (2) attaching the by-laws of the Borrower and each Subsidiary Guarantor,

 (3) certifying that no amendment or modification of the Borrower’s or any Subsidiary Guarantor’s
certificate of incorporation has occurred since the date of the certification thereof by the Secretary of State required by clause (iv) below; and 

(4) certifying as to the incumbency and signatures of those of its officers authorized to act with respect to this
Agreement, the Notes, the Guaranty Agreements, the Security Documents, the Mortgages, and each other Loan Document, upon which certificate the Agent may conclusively rely until it shall have received a further certificate of the Secretary of the
Borrower and each Subsidiary Guarantor canceling or amending such prior certificate. 
 (iv) A copy of the
Borrower’s and each Subsidiary Guarantor’s certificate of incorporation, certified as of a recent date by the Secretary of State of the state of its incorporation. 

(v) A certificate of good standing with respect to the Borrower and each Subsidiary Guarantor as of a recent date issued
by the Secretary of State of the state of its incorporation. 
 (vi) Certificates as of a recent date and issued
by the appropriate Governmental Authority as to the qualification of the Borrower to do business (and its 
  

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good standing, where available) as a foreign corporation in each jurisdiction in which the Borrower is qualified as a foreign corporation. 

(vii) A certificate, dated the Effective Date and signed by the President, a Vice President or a Financial Officer of the
Borrower, to the effect that the statements set forth in paragraphs (a) and (b) of Section 5.02 are true and correct as of such date. 

(viii) Counterparts of the Security Agreements signed on behalf of the Borrower, and each Subsidiary Guarantor, together
with the following: 
 (1) stock certificates representing one hundred percent (100%) of the shares of
capital stock of all Domestic Subsidiaries and sixty-five percent (65%) of the shares of capital stock of all Material Foreign Subsidiaries, in each case, owned by or on behalf of any Loan Party as of the Effective Date; 

(2) any promissory notes and other instruments evidencing all loans, advances and other debt owed or owing to any Loan
Party as of the Effective Date; 
 (3) stock powers and instruments of transfer, endorsed in blank, with respect
to such stock certificates, promissory notes and other instruments; 
 (4) all instruments and other documents,
including Uniform Commercial Code financing statements, assignments of patents, trademarks, copyrights, and other intellectual property, required by law or reasonably requested by the Agent to be filed, registered or recorded to create or perfect
the Liens intended to be created under the Security Agreements; 
 (5) a completed Perfection Certificate, dated
the Effective Date and signed by the President or a Vice President of the Borrower or a Financial Officer, together with all attachments contemplated thereby, including the results of a search of the Uniform Commercial Code (or equivalent) filings
made with respect to the Loan Parties in the jurisdictions contemplated by the Perfection Certificate and copies of the financing statements (or similar documents) disclosed by such search and evidence reasonably satisfactory to the Agent that the
Liens indicated by such financing statements (or similar documents) are permitted by Section 7.02 or have been released; 

(6) all uniform commercial code, patent and trademark search reports, copyright search reports, title insurance
commitments, and other record search reports satisfactory to the Agent shall have been received and reviewed. 

(ix) Counterparts of the Guaranty Agreements signed on behalf of each Subsidiary Guarantor that exists on the Effective
Date. 
 (x) Execution and delivery of the each of the Mortgages signed on behalf of the Affiliate of the
Borrower which is the record owner of real property encumbered thereby and a written negative pledge agreement in form and substance satisfactory to the 

 

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Agent which is recordable among the land records in which any real property of the Borrower or any of its Affiliates is located. 

(xi) Receipt and review by the Agent and its counsel of an appraisal on real estate owned by the Borrower or any of its
Affiliates, performed by a third party acceptable to the Agent; completion and satisfactory review of environmental reviews, insurance, and other information and due diligence; title insurance, surveys and other documentation as may be required by
the Agent with respect to the Mortgage and all real estate owned by the Borrower or its Affiliates. 
 (xii)
Certificates of insurance or other evidence reasonably satisfactory to the Agent that the insurance required by Section 6.11 has been obtained and is in effect. 

(xiii) Copies of the financial statements of the Borrower described in Section 4.04(a) and, the unaudited financial
statements of the Borrower as and for the quarter ending March 31, 2010. 
 (xiv) A certificate, dated the
Effective Date and signed by a Financial Officer of the Borrower, setting forth reasonably detailed calculations demonstrating compliance with Sections 7.12 – 7.18 on a pro forma basis immediately after giving effect to the initial Loans.

 (b) The capital structure of the Borrower shall be reasonably satisfactory to the Agent, and Borrower shall demonstrate to
the Credit Parties that there have been no material changes in Control of the Borrower and its Subsidiaries since June 30, 2009. 

(c) The Agent shall be reasonably satisfied that there is no other material litigation against, or material liabilities (which are not
disclosed in the Borrower’s financial statements) of, the Borrower, except for Disclosed Matters. 
 (d) The performance by
each Loan Party of its obligations under each Loan Document shall not (i) violate any applicable law, statute, rule or regulation or (ii) conflict with, or result in a default or event of default under, any material agreement of any Loan
Party or any other Subsidiary, and the Agent shall have received one or more officer’s certificates to such effect, reasonably satisfactory to the Agent. 

(e) The Agent shall be reasonably satisfied as to the amount and nature of any environmental and employee health and safety exposures to
which the Borrower and the Subsidiaries may be subject, and with the plans of the Borrower with respect thereto. 
 (f) The
Agent shall be reasonably satisfied (i) that there is no litigation or administrative proceeding, or regulatory development, that would reasonably be expected to have a Material Adverse Effect, and (ii) with the current status of, and the
terms of any settlement or other resolution of, any litigation or other proceedings brought against the Borrower or any Subsidiary by or on behalf of its subscribers or by any Governmental Authority relating to its business. 

 

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 (g) After giving effect to the Transactions, none of the Borrower or any of the Subsidiaries
shall have outstanding any shares of preferred equity securities or any Indebtedness, other than (i) Indebtedness incurred under the Loan Documents, (ii) Indebtedness set forth on Schedule 7.01 or permitted under Section 7.01
and (iii) preferred equity securities set forth on Schedule 4.12. 
 (h) The Agent shall be reasonably satisfied in
all respects with the tax position and the contingent tax and other liabilities of, and with any tax sharing agreements among, the Borrower and the Subsidiaries, and with the plans of the Borrower with respect thereto. 

(i) The Agent shall have received a certificate from a Financial Officer of the Borrower certifying that: 

(a) since June 30, 2009, there has been no material adverse change or material adverse condition in the business,
assets, operations, properties, condition (financial or otherwise), liabilities (including contingent liabilities), prospects or material agreements of the Borrower and the Subsidiaries, taken as a whole. 

(b) there are no liabilities of the Borrower or any Subsidiary, fixed or contingent, which are material but not reflected
in the financial statements of the Borrower and its Subsidiaries as of and for the year ended June 30, 2009 or the notes thereto, other than liabilities arising in the ordinary course of business since June 30, 2009. 

(j) The Agent shall have completed its “due diligence” review of the Borrower and its Subsidiaries including, without
limitation, (i) the audited consolidated financial statements of the Borrower and its Subsidiaries for the Fiscal Year ending June 30, 2009, and the consolidated financial statement of the Borrower and its Subsidiaries for the fiscal
quarter ending March 31, 2010, (ii) financial projections for two (2) years for the Borrower, and (iii) any other information the Agent may reasonably require. 

(k) A satisfactory review of the Convertible Senior Notes shall have been completed and satisfactory evidence shall have been provided
that, as of the Closing Date, the aggregate principal balance outstanding on account of the Convertible Senior Notes is not more than $39,650,000. 

(l) The Borrower shall have paid in full all fees and other amounts due and payable and all Credit Party Expenses to the extent invoiced
prior to or on the Closing Date, plus such additional amounts of Credit Party Expenses as shall constitute Agent’s reasonable estimate of Credit Party Expenses incurred or to be incurred by it through the Closing Date (provided that such
estimate shall not thereafter preclude a final settling of accounts between the Borrower and the Credit Parties). 

Section 5.02 Each Extension of Credit. The obligation of each Lender to make any Extension of Credit is subject to the
satisfaction of the following conditions: 
 (a) The representations and warranties of each Loan Party set forth in each Loan
Document shall be true and correct on and as of the date of such Extension of Credit in all 
  

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material respects except for changes occurring in the ordinary course of business and as otherwise permitted by this Agreement. 

(b) At the time of and immediately after giving effect to such Extension of Credit, no Default or Event of Default shall have occurred
and be continuing, and no occurrence, condition or event which results in, causes, or is reasonably likely to result in or cause a Material Adverse Effect shall have occurred. 

Each Borrowing Request shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to the matters specified in
paragraphs (a) and (b) of this Section. 
 ARTICLE 6 AFFIRMATIVE COVENANTS 

The Borrower covenants and agrees with the Lenders that, so long as this Agreement is in effect and until the Revolving Commitments have
terminated, no Note remains outstanding and unpaid and the Obligations, together with interest, Commitment Fees and all other amounts owing to the Agent or any Lender hereunder, are paid in full: 

Section 6.01 Payment of Obligations. 

The Borrower will pay the Obligations in full when and as due at such times as required by this Agreement or the other Loan Documents.
Without limitation to the foregoing, the Revolving Loan shall be paid in full on or before the Maturity Date and the Swingline Loan shall be paid in full on or before the Swingline Maturity Date. 

Section 6.02 Financial Statements and Other Information. The Borrower will furnish to the Agent and each Lender:

 (a) within ninety (90) days after the end of each Fiscal Year, its audited consolidated balance sheet and
related statements of income, stockholders’ equity and cash flows as of the end of and for such year, setting forth in each case in comparative form the figures for the previous Fiscal Year, all reported on by KPMG LLP or other independent
public accountants of recognized national standing (without a “going concern” or like qualification or exception and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial
statements present fairly in all material respects the financial condition and results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied; 

(b) within ninety (90) days after the end of each Fiscal Year, (i) its consolidating balance sheets and related
statements of income and stockholders’ equity as of the end of and for such year, setting forth in each case in comparative form the figures for the previous Fiscal Year and (ii) unaudited financial information for each of the
Borrower’s business lines, all certified by one of its Financial Officers as presenting fairly in all material respects the financial condition and results of operations of the Borrower on a consolidating basis in accordance with GAAP
consistently applied, subject to normal year-end audit adjustments and the absence of footnotes; 
  

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 (c) within forty-five (45) days after the end of each of the first
three fiscal quarters of each Fiscal Year, (i) its consolidated balance sheet and related statements of income, stockholders’ equity and cash flows as of the end of and for such fiscal quarter and the then elapsed portion of the Fiscal
Year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous Fiscal Year and (ii) unaudited financial information for each of
the Borrower’s business lines, all certified by one of its Financial Officers as presenting fairly in all material respects the financial condition and results of operations of the Borrower and the consolidated Subsidiaries on a consolidated
basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes; 

(d) concurrently with any delivery of financial statements under clause (a), (b), and (c) above, a certificate of a
Financial Officer of the Borrower (each a “Compliance Certificate”) (i) certifying as to whether a Default has occurred and, if a Default has occurred, specifying the details thereof and any action taken or proposed to be taken with
respect thereto, (ii) setting forth (A) reasonably detailed calculations demonstrating compliance with Sections 7.12, 7.13, 7.14, 7.15, 7.16, 7.17, and 7.18 and (B) the Subsidiary Guarantors as of the date of such certificate, and
(iii) stating whether any change in GAAP or in the application thereof has occurred since the date of the audited financial statements referred to in Section 4.04(a) and, if any such change has occurred, specifying the effect of such
change on the financial statements accompanying such certificate. 
 (e) concurrently with any delivery of
financial statements under clause (a) above, a certificate of the accounting firm that reported on such financial statements stating whether they obtained knowledge during the course of their examination of such financial statements of any
Default (which certificate may be limited to the extent required by accounting rules or guidelines), together with copies of any “management letter” or similar letter received by the Borrower or its Board of Directors (or any committee
thereof) from such accounting firm. 
 (f) Within forty-five (45) days of the end of each Fiscal Year, the
annual operating budget (including a balance sheet, income statement, statement of cash flows and assumptions relating to the budget) for the Borrower’s consolidated operations. 

(g) promptly after the same become publicly available, copies of all periodic and other reports, proxy statements and
other materials filed by the Borrower or any Subsidiary with the Securities and Exchange Commission, or any Governmental Authority succeeding to any or all of the functions of said Commission, or with any national securities exchange, or distributed
by the Borrower to its shareholders generally, as the case may be. 
 (h) promptly following any request
therefor, such other information regarding the operations, business affairs and financial condition of the Borrower or any Subsidiary, or compliance with the terms of the Loan Documents, as the Agent or any Lender may reasonably request. 

 

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 (i) contemporaneously with the receipt or issuance thereof, copies of all
notices or requests received or issued by the Borrower in connection with the Indenture or the Convertible Senior Notes. 

(j) notice of any default or “Event of Default” occurring under the Indenture, concurrently with the occurrence
thereof. 
 (k) immediate notice of any acceleration of payment of the Convertible Senior Notes, including
without limitation any notice received by the Borrower pursuant to Section 4.02 of the Indenture. 
 (l)
immediate notice of any amendment of the Indenture. 
 (m) contemporaneously with the issuance thereof, a copy of
all notices to the Trustee pursuant to Section 10.01 or Section 11.01 of the Indenture and copies of all Notices issued to the holders of the Convertible Senior Notes pursuant to Section 10.03 or Section 11.01. 

(n) contemporaneously with the occurrence thereof, notice of the occurrence of a “Designated Event”, as such
term is defined in the Indenture. 
 (o) contemporaneously with the receipt by the Borrower thereof, copies of
each “Designated Event Repurchase Notice”, as such term is defined in the Indenture. 
 (p)
contemporaneously with the issuance by the Borrower, copies of each “Designated Event Company Notice”, as such term is defined in the Indenture; and 

(q) contemporaneously with the issuance thereof, copies of each “Conversion Notice”, as such term is defined in
the Indenture. 
 The Borrower hereby acknowledges that (a) the Agent will make available to the Lenders and the LC Issuer
materials and/or information provided by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on IntraLinks or another similar electronic system (the “Platform”) and
(b) certain of the Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to receive material non-public information with respect to the Borrower or its securities) (each, a “Public Lender”). The Borrower
hereby agrees that so long as the Borrower is the issuer of any outstanding debt or equity securities that are registered or issued pursuant to a private offering or is actively contemplating issuing any such securities (w) all Borrower
Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked “Public” which, at a minimum, shall mean that the word “Public” shall appear prominently on the first page thereof; (x) by
marking Borrower Materials “Public”, the Borrower shall be deemed to have authorized the Agent, the LC Issuer and the Lenders to treat such Borrower Materials as not containing any material non-public information with respect to the
Borrower or its securities for purposes of United States Federal and state securities laws (provided, however, that to the extent such Borrower Materials constitutes Information, they shall be treated as set forth in Section 10.13
of this Agreement; (y) all Borrower Materials marked “Public” are permitted to be made available through a portion of the 

 

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Platform designed “Public Investor;”; and (z) the Agent shall be entitled to treat any Borrower Materials that are not marked “Public” as being suitable only for posting
on a portion of the Platform not designed “Public Investor.” 
 Section 6.03 Notices of Material
Events. The Borrower will furnish to the Agent and each Lender prompt written notice of the following: 

(a) the occurrence of any Default; 

(b) the filing or commencement of any action, suit or proceeding by or before any arbitrator or Governmental Authority
against or affecting the Borrower or any Affiliate thereof that, if adversely determined, could in the good faith opinion of the Borrower reasonably be expected to result in a Material Adverse Effect; 

(c) the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, could
reasonably be expected to result in liability of the Borrower and the Subsidiaries in an aggregate amount exceeding Two Hundred Fifty Thousand Dollars ($250,000.00); and 

(d) any other development that results in, or could reasonably be expected to result in, a Material Adverse Effect.

 Each notice delivered under this Section shall be accompanied by a statement of a Financial Officer or other executive officer of the
Borrower setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto. 

Section 6.04 Existence; Conduct of Business. The Borrower will, and will cause each of the Subsidiaries to, do or
cause to be done all things necessary to preserve, renew and keep in full force and effect its (a) legal existence, (b) the rights, licenses, permits, privileges and franchises material to the conduct of its business, provided that
the foregoing shall not prohibit any merger, consolidation, liquidation or dissolution permitted under Section 7.03, and (c) continue their business lines as in effect as of Closing. 

Section 6.05 Payment of Tax Liabilities. The Borrower will, and will cause each of the Subsidiaries to pay its
liabilities for Taxes, before the same shall become delinquent or in default, except where (i) the validity or amount thereof is being contested in good faith by appropriate proceedings, (ii) the Borrower or such Subsidiary has set aside
on its books adequate reserves with respect thereto in accordance with GAAP, (iii) the Collateral is not subject to sale, forfeiture or loss during such proceedings, and (iv) the failure to make payment pending such contest could not
reasonably be expected to result in a Material Adverse Effect. 
 Section 6.06 Maintenance of Properties. The
Borrower will, and will cause each of the Subsidiaries to, keep and maintain all property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted. 

Section 6.07 Books and Records; Inspection Rights; Collateral Audits. The Borrower will, and will cause each of the
Subsidiaries to, keep proper books of record and 
  

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account in which full, true and correct entries are made of all dealings and transactions in relation to its business and activities. The Borrower will, and will cause each of the Subsidiaries
to, permit any representatives designated by the Agent or any Lender, upon reasonable prior notice, to visit and inspect its properties, to examine and make extracts from its books and records, and to discuss its affairs, finances and condition with
its officers and independent accountants, and to conduct audits of the Collateral (all at the Borrower’s expense, which shall be reasonable and customary for such inspections and audits) all at such reasonable times and as often as reasonably
requested (and with respect to audits of the Collateral, so long as no Event of Default exists, not more frequently than once every year). 

Section 6.08 Compliance with Laws. The Borrower will, and will cause each of the Subsidiaries to, be in compliance
with all laws, rules, regulations and orders of any Governmental Authority materially applicable to it or its assets and properties. 

Section 6.09 Use of Proceeds. The proceeds of the Loans will be used only (a) to refinance the outstanding
Indebtedness under the Original Credit Agreement, (b) to fund short-term and long term permanent working capital, (c) for issuance of Letters of Credit; and (d) for general corporate purposes not inconsistent with the terms hereof. No
part of the proceeds of any Loan will be used, whether directly or indirectly, and whether immediately, incidentally or ultimately, to purchase, acquire or carry any Margin Stock or for any purpose that entails a violation of any of the regulations
of the FRB, including Regulations T, U and X. 
 Section 6.10 Information Regarding Collateral 

(a) The Borrower will furnish to the Agent prompt written notice of any change in (i) the legal name of any Loan Party or in any
trade name used to identify it in the conduct of its business or in the ownership of its properties, (ii) the location of the chief executive office of any Loan Party, its principal place of business, any office in which it maintains books or
records relating to Collateral owned or held by it or on its behalf or any office or facility at which Collateral owned or held by it or on its behalf with an aggregate book value in excess of Fifty Thousand Dollars ($50,000.00) is located
(including the establishment of any such new office or facility), (iii) the identity or organizational structure of any Loan Party such that a filed financing statement becomes misleading or (iv) the Federal Taxpayer Identification Number
of any Loan Party. The Borrower agrees not to effect or permit any change referred to in the preceding sentence unless all filings have been made under the Uniform Commercial Code or otherwise that are required in order for the Agent to continue at
all times following such change to have a valid, legal and perfected security interest in all the Collateral. The Borrower also agrees promptly to notify the Agent if any material portion of the Collateral is damaged or destroyed. 

(b) Each year, at the time of delivery of annual financial statements with respect to the preceding Fiscal Year pursuant to clauses
(a) and (b) of Section 6.02, the Borrower shall deliver to the Agent a certificate of a Financial Officer (i) setting forth the information required pursuant to the Perfection Certificate or confirming that there has been no
change in such information since the date of the Perfection Certificate or the date of the most recent certificate delivered pursuant to this Section, and (ii) certifying that the Loan Parties are in compliance with all of the terms of the
Security Agreements. 
  

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 Section 6.11 Insurance. The Borrower will, and will cause each of the
Subsidiaries to, maintain, with financially sound and reputable insurance companies, (a) adequate insurance for its insurable properties, all to such extent and against such risks, including fire, casualty, business interruption and other risks
insured against by extended coverage, as is customary with companies in the same or similar businesses operating in the same or similar locations and (i) with respect to insurance covering the Collateral, such insurance shall contain a standard
loss payable clause and shall name the Agent for the ratable benefit of the Secured Parties as sole loss payee thereto, and (ii) with respect to liability insurance, such insurance shall be endorsed to provide that the Agent, in its capacity as
such, shall be an additional insured; and (iii) with respect to all such insurance, provide that thirty (30) days’ prior written notice of any cancellation thereof shall be given to the Agent, and (b) such other insurance as may
be required pursuant to the terms of any Security Document. 
 Section 6.12 Casualty and Condemnation.

 (a) The Borrower will furnish to the Agent and the Lenders prompt written notice of any casualty or other insured damage to
any portion of any Collateral or the commencement of any action or proceeding for the taking of any Collateral or any part thereof or interest therein under power of eminent domain or by condemnation or similar proceeding. 

(b) If any event described in paragraph (a) of this Section 6.12 results in insurance proceeds, condemnation awards or other
similar proceeds, the Agent is authorized to collect such proceeds and, if received by the Borrower or any Subsidiary, such proceeds shall be paid over to the Agent, provided that (i) to the extent that the Borrower or any of the
Subsidiaries intends to use any such proceeds to repair, restore, reinvest or replace assets of the Borrower or any of the Subsidiaries, the Agent shall, to the extent expressly required by the terms of the Security Agreements and the Mortgages,
deliver such proceeds to the Borrower, (ii) otherwise, the Agent shall, and the Borrower hereby authorizes the Agent to, apply such proceeds to pay the Obligations in such order of application as determined by the Required Lenders, and
(iii) all proceeds of business interruption insurance shall be paid over to the Borrower unless a Default or Event of Default has occurred and is continuing. 

(c) If such proceeds retained by or paid over to the Agent as provided in paragraphs (a) and (b) of this Section continue to be
held by the Agent on the date that is one hundred eighty (180) days after the receipt of such proceeds, then such proceeds shall be applied to pay the Obligations. 

Section 6.13 Additional Subsidiaries. 

(a) If any Domestic Subsidiary is formed or acquired after the Effective Date, the Borrower will notify the Agent and the Lenders in
writing thereof within ten (10) Business Days after the date on which such Subsidiary is formed or acquired and (a) the Borrower will cause such Domestic Subsidiary to (i) execute and deliver a Guaranty Agreement and execute and
deliver, or become a party to, each applicable Security Agreement and other Security Documents in the manner provided therein, in each case within ten (10) Business Days after the date on which such Subsidiary is formed or acquired, and
(ii) promptly take such actions to create and perfect Liens on such Domestic Subsidiary’s assets to secure the Obligations as the 

 

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Agent or the Required Lenders shall reasonably request and (b) if any Capital Stock issued by any such Domestic Subsidiary are owned or held by or on behalf of the Borrower or any Subsidiary
Guarantor or any loans, advances or other debt is owed or owing by any such Domestic Subsidiary to the Borrower or any Subsidiary Guarantor, the Borrower will cause all of such Capital Stock of any Domestic Subsidiary and all promissory notes and
other instruments evidencing such loans, advances and other debt to be pledged pursuant to the Security Agreements within five (5) Business Days after the date on which such Domestic Subsidiary is formed or acquired; 

(b) If any Foreign Subsidiary is formed or acquired after the Effective Date, the Borrower will notify the Agent and the Lenders in
writing thereof within ten (10) Business Days after the date on which such Foreign Subsidiary is formed or acquired, and if any loans, advances or other debt is owed or owing by any such Foreign Subsidiary to the Borrower or any Subsidiary
Guarantor, the Borrower will cause all promissory notes and other instruments evidencing and all promissory notes and other instruments evidencing such loans, advances and other debt (excluding intercompany accounts payable incurred in the ordinary
course of business) to be pledged pursuant to the Security Agreements within five (5) Business Days after the date on which such Foreign Subsidiary is formed or acquired; and 

(c) If any Subsidiary which is formed or acquired after the Effective Date constitutes a Material Foreign Subsidiary or if at any time
any Subsidiary becomes a Material Foreign Subsidiary, within (60) days thereafter, the Borrower will pledge to the Agent or cause to be pledged to the Agent sixty-five percent (65%) of the outstanding Capital Stock of such Material Foreign
Subsidiary by delivery to the Agent of (i) a complete copy of the organizational documents of such Subsidiary, together with a certificate of status or good standing if such certificates are issued by the jurisdiction of formation, (ii) a
duly executed Security Agreement and other such agreements, instruments, and documents, in form and substance satisfactory to the Agent, as may be required under the applicable laws (including but not limited to the laws of the jurisdiction of
formation) to effectuate a fully enforceable pledge of such Capital Stock to the Agent for the benefit of the Secured Parties, (iii) the original certificates for such Capital Stock, together with undated stock powers for such certificates,
executed in blank, or if any shares of capital stock are uncertificated, confirmation and evidence reasonably satisfactory to the Agent that the security interest in such uncertificated securities has been granted to and perfected by the Agent for
the benefit of the Secured Parties, in accordance with the applicable sections under Articles 8 and 9 of the UCC or other similar or local or foreign law that may be applicable, and (iv) an opinion of counsel satisfactory to the Agent opining
as to matters in connection with such Subsidiary and the pledge of Capital Stock described in this subsection (c) as may be reasonably requested by the Agent. 

Section 6.14 Further Assurances 

(a) The Borrower will, and will cause each Subsidiary Guarantor to, execute any and all further documents, financing statements,
agreements and instruments, and take all such further actions (including the filing and recording of financing statements and other documents), that may be required under any applicable law, or which the Agent or the Required Lenders may reasonably
request, to effectuate the transactions contemplated by the Loan Documents or to grant, preserve, protect or perfect the Liens created or intended to be created by 

 

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the Security Documents or the validity or priority of any such Lien, all at the expense of the Borrower and the Subsidiary Guarantors. 

(b) If any material assets are acquired by the Borrower or any Subsidiary Guarantor after the Effective Date (other than assets
constituting Collateral under the Security Agreements that become subject to the Lien of the Security Agreements upon acquisition thereof), the Borrower will notify the Agent and the Lenders thereof, and, if requested by the Agent or the Required
Lenders, the Borrower will cause such assets to be subjected to a Lien securing the Obligations and will take, and cause the Subsidiary Guarantors to take, such actions as shall be necessary or reasonably requested by the Agent to grant and perfect
such Liens, including actions described in paragraph (a) of this Section, all at the expense of the Borrower and the Subsidiary Guarantors. 

(c) All advances (excluding intercompany accounts receivable incurred in the ordinary course of business) by the Borrower or any
Subsidiary Guarantor to a Foreign Subsidiary shall be evidenced by promissory notes which shall be duly assigned and endorsed to the Agent for the benefit of the Lenders, and, if requested by the Agent or the Required Lenders, the original thereof
delivered to the Agent. 
 Section 6.15 Environmental Compliance. The Borrower shall, and shall cause each of
its Subsidiaries to, use and operate all of its facilities and property in compliance with all Environmental Laws, keep all necessary permits, approvals, certificates, licenses and other authorizations relating to environmental matters in effect and
remain in compliance therewith, and handle all Hazardous Materials in compliance with all applicable Environmental Laws, except where noncompliance with any of the foregoing could not reasonably be expected to have a Material Adverse Effect.

 ARTICLE 7 NEGATIVE COVENANTS 

The Borrower covenants and agrees with the Lenders that, so long as this Agreement is in effect and until the Revolving Commitments have
terminated, no Note remains outstanding and unpaid and the Obligations, together with interest, Commitment Fees and all other amounts owing to the Agent or any Lender hereunder, are paid in full: 

Section 7.01 Indebtedness 

(a) The Borrower will not, and will not permit any Subsidiary to, create, incur, assume or permit to exist any Indebtedness, except:

 (i) Indebtedness under the Loan Documents; 

(ii) Indebtedness existing on the date hereof and set forth in Schedule 7.01; 

(iii) Indebtedness of the Borrower or any Subsidiary incurred to finance the acquisition, construction or improvement of
any fixed or capital assets, including Capital Lease Obligations and any Indebtedness assumed in connection with the acquisition of any such assets or secured by a Lien on any such assets prior to the acquisition thereof,

  

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and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof, provided that (A) such Indebtedness is incurred prior
to or within 90 days after such acquisition or the completion of such construction or improvement and (B) the aggregate principal amount of Indebtedness permitted by this clause (iii) shall not exceed Five Million Dollars ($5,000,000.00)
at any time outstanding; 
 (iv) Indebtedness of any Person that becomes a Subsidiary after the date hereof,
provided that (A) such Indebtedness exists at the time such Person becomes a Subsidiary and is not created in contemplation of or in connection with such Person becoming a Subsidiary and (B) the aggregate principal amount of
Indebtedness permitted by this clause (iv) shall not exceed Two Million Dollars ($2,000,000.00) at any time outstanding; 

(v) Indebtedness of the Borrower to any Subsidiary Guarantor and of any Subsidiary Guarantor to the Borrower or any other
Subsidiary Guarantor; 
 (vi) Guarantees by the Borrower of Indebtedness of any Subsidiary Guarantor and by any
Subsidiary Guarantor of Indebtedness of the Borrower or any other Subsidiary Guarantor; and 
 (vii) other
unsecured Indebtedness of the Borrower and the Subsidiary Guarantors in an aggregate principal amount not exceeding Two Million Dollars ($2,000,000.00) at any time outstanding. 

(viii) unsecured Indebtedness of LeCroy Japan Corporation (i) to Mizuho Bank in amounts not to exceed 100,000,000 Yen
and (ii) Tokyo Mitsubishi Bank not to exceed Fifty Million (50,000,000.00) Yen. 
 (ix) unsecured
Indebtedness of LeCroy SA under an overdraft facility in amounts not to exceed One Million (1,000,000.00) Swiss Francs. 

(x) unsecured Indebtedness of LeCroy SA under a term loan provided that (1) the amount of such term loan does not
exceed Seven Million Dollars ($7,000,000.00), (2) the proceeds of such term loan are immediately distributed to the Borrower as a dividend and used by the Borrower for general working capital purposes and (3) in the event that such term
loan is guaranteed by the Borrower, the Borrower’s obligations under such guarantee are subordinated to the obligations of the Borrower to the Agent and the Lenders on terms and conditions, and pursuant to a written agreement reasonably
satisfactory to the Agent. 
 (xi) Unsecured Indebtedness under the Convertible Senior Notes not to exceed
Thirty-Nine Million Six Hundred Fifty Thousand Dollars ($39,650,000.00) in aggregate principal amount. 
 (b) The Borrower will
not, and it will not permit any Subsidiary to, (i) issue any preferred equity securities unless the issuance of such preferred equity securities is on terms and conditions reasonably satisfactory to the Agent, or (ii) be or become liable
in respect of any obligation (contingent or otherwise) to purchase, redeem, retire, acquire or make any other 
  

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payment in respect of any shares of Capital Stock of the Borrower or any Subsidiary or any option, warrant or other right to acquire any such shares of Capital Stock other than Capital Stock of
the Borrower pursuant to any employee benefit plan, except as permitted under Section 7.08. 
 Section 7.02
Liens. The Borrower will not, and will not permit any Subsidiary to, create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired by it, or assign or sell any income or revenues (including
accounts receivable) or rights in respect of any thereof, except: 
 (a) Liens created under the Loan Documents;

 (b) Permitted Encumbrances; 

(c) any Lien on any property or asset of the Borrower or any Subsidiary existing on the date hereof and set forth in
Schedule 7.02, provided that (i) such Lien shall not apply to any other property or asset of the Borrower or any Subsidiary; (ii) such Lien shall secure only those obligations which it secures on the date hereof and any
extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof; and (iii) such lien secures Indebtedness that is authorized by Section 7.01(a)(ii) of this Agreement, 

(d) any Lien existing on any property or asset prior to the acquisition thereof by the Borrower or any Subsidiary or
existing on any property or asset of any Person that becomes a Subsidiary after the date hereof prior to the time such Person becomes a Subsidiary, provided that (i) such Lien is not created in contemplation of or in connection with such
acquisition or such Person becoming a Subsidiary, as applicable, (ii) such Lien shall not apply to any other property or assets of the Borrower or any Subsidiary and (iii) such Lien shall secure only those obligations that it secures on
the date of such acquisition or the date such Person becomes a Subsidiary, as applicable, and any extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof, 

(e) Liens on fixed or capital assets acquired, constructed or improved by the Borrower or any Subsidiary, provided
that (i) such security interests secure Indebtedness permitted by clause (iii) of Section 7.01(a), (ii) such security interests and the Indebtedness secured thereby are incurred prior to or within ninety (90) days after such
acquisition or the completion of such construction or improvement, (iii) the Indebtedness secured thereby does not exceed the cost of acquiring, constructing or improving such fixed or capital assets and (iv) such security interests shall
not apply to any other property or assets of the Borrower or any Subsidiary. 
 Section 7.03 Fundamental Changes

 (a) The Borrower will not, and will not permit any Subsidiary to, merge into or consolidate with any other Person, or
permit any other Person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one transaction or in a series of 

 

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transactions) all or substantially all of its assets, or all or substantially all of the Capital Stock of any of the Subsidiaries (in each case, whether now owned or hereafter acquired), or
liquidate or dissolve, except that, if at the time thereof and immediately after giving effect thereto, no Default shall have occurred and be continuing: 

(i) any Subsidiary may: (x) merge with any Person only in an acquisition transaction that is a Permitted Acquisition
expressly permitted under the terms and conditions of Section 7.04(d) of this Agreement and provided that the surviving entity becomes a Subsidiary Guarantor and pledges its assets to secure its liabilities under its Guaranty Agreement and the
Capital Stock thereof is pledged to secure the Obligations to the extent contemplated by the definition of a “Permitted Acquisition” and Section 7.04(d), (y) merge into the Borrower in a transaction in which the Borrower is the
surviving entity, and (z) any Subsidiary may merge into any Subsidiary Guarantor in a transaction in which such Subsidiary Guarantor is the surviving entity; 

(ii) any Subsidiary may sell, transfer, lease or otherwise dispose of its assets to the Borrower or to any Subsidiary
Guarantor 
 (iii) the Borrower or any Subsidiary may sell, transfer, lease or otherwise dispose of its assets in
a transaction that is expressly permitted by Section 7.05 of this Agreement; and 
 (b) The Borrower will not, and will not
permit any of the Subsidiaries to, engage to any material extent in any business other than businesses of the type conducted by the Borrower and its Subsidiaries on the date of execution of this Agreement and businesses directly related thereto;

 (c) The Borrower will not, and will not permit any Subsidiary to, liquidate or dissolve; and 

(d) The Borrower will not change its address, and the Borrower will not, without providing thirty days (30) prior written notice to
the Agent, permit any Subsidiary to change its address. 
 Section 7.04 Investments, Loans, Advances, Guarantees and
Acquisitions. The Borrower will not, and will not permit any of the Subsidiaries to make any Investments except: 

(a) Permitted Investments; 

(b) Investments existing on the date hereof and set forth in Schedule 7.04; provided, however, loans (excluding
intercompany transactions made in the ordinary course of business) by the Borrower and the Subsidiaries to Foreign Subsidiaries which are not Guarantors shall not at any time exceed $5,000,000 in aggregate amount; 

(c) Investments made by the Borrower in the Capital Stock of any Subsidiary Guarantor and investments made by any
Subsidiary Guarantor in the Capital Stock of any other Subsidiary Guarantor, provided that any such Capital Stock owned by 

 

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the Borrower or any Subsidiary Guarantor shall be pledged pursuant to the Security Agreements; 

(d) For the avoidance of doubt, Permitted Acquisitions only with the prior written consent of the Lenders; 

(e) Loans or advances made by the Borrower to any Subsidiary Guarantor and loans or advances made by any Subsidiary
Guarantor to the Borrower or any other Subsidiary Guarantor, provided that any such loans and advances made by a Loan Party shall be evidenced by a promissory note which shall be pledged pursuant to the Security Agreements; and 

(f) Acquisitions made by the Borrower from any Subsidiary Guarantor and made by any Subsidiary Guarantor from the Borrower
or any other Subsidiary Guarantor. 
 Section 7.05 Dispositions. No Loan Party or Subsidiary of a Loan Party
shall make any Disposition or enter into any agreement to make any Disposition without the consent of the Required Lenders, except: 

(a) Specified Sales; 

(b) Dispositions made by the Borrower to any Subsidiary Guarantor and Dispositions made by any Subsidiary Guarantor to the Borrower or
any other Subsidiary Guarantor; and 
 (c) Dispositions not otherwise permitted under this Section 7.05; provided that
(i) no Default or Event of Default has occurred and is continuing at the time of such Disposition or upon giving effect to such Disposition, including after calculation of the financial covenants set forth in Sections 7.12 through 7.18 hereof
on both an accrual and pro forma basis, (ii) the aggregate fair market value all property disposed of in reliance upon this subsection shall not exceed One Million Dollars ($1,000,000.00) in the aggregate, and (iii) any Dispositions
permitted under clause (c) shall be made for fair value and not less than 75% of the consideration therefor shall consist of cash. 

Section 7.06 Sale and Lease-Back Transactions. The Borrower will not, and will not permit any of the Subsidiaries to,
enter into any arrangement, directly or indirectly, with any Person whereby it shall sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease such property
or other property that it intends to use for substantially the same purpose or purposes as the property being sold or transferred, except that the Borrower and/or the Subsidiaries in the absence of any continuing Defaults or Events of Default may
enter in sale and lease-back transactions relating to “demonstration equipment” provided that after giving effect to each such transaction the aggregate amount of all obligations incurred with respect to all such transactions would
not exceed Five Million Dollars ($5,000,000.00) and no Defaults or Events of Default would then exist. 
  

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 Section 7.07 Hedging Agreements. The Borrower will not, and will not
permit any of the Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its
business or the management of its liabilities. 
 Section 7.08 Restricted Payments. The Borrower will not,
and will not permit any of the Subsidiaries to, declare or make, or agree to pay for or make (contingently or otherwise), directly or indirectly, any Restricted Payment, except that: 

(a) the Borrower may declare and pay dividends with respect to its Capital Stock payable solely in additional shares of its Capital
Stock; 
 (b) any Subsidiary may declare and pay dividends with respect to its Capital Stock to the Borrower or any Subsidiary
Guarantor; and 
 (c) so long as no Default or Event of Default exists and is continuing, prior to and after giving effect to
such declaration or payment, the Borrower may declare or pay cash dividends to the holders of its Capital Stock to the extent that, prior to making such payments and upon giving effect to such payments, the Total Leverage Ratio is less than
3.00:1.00 and the Borrower is in full compliance with all of its financial covenants set forth in this Agreement, and provided the Borrower provides the Agent with satisfactory evidence of the foregoing prior to payment. 

Section 7.09 Transactions with Affiliates. The Borrower will not, and will not permit any of the Subsidiaries to,
sell, transfer, lease or otherwise dispose (including pursuant to a merger) any property or assets to, or purchase, lease or otherwise acquire (including pursuant to a merger) any property or assets from, or otherwise engage in any other
transactions with, any of its Affiliates, except in the ordinary course of business at prices and on terms and conditions not less favorable to the Borrower or such Subsidiary than could be obtained on an arms-length basis from unrelated third
parties, provided that this Section shall not apply to any transaction that is permitted under Section 7.01, 7.03, 7.04, 7.05 or 7.08, between or among the Loan Parties and not involving any other Affiliate. 

Section 7.10 Restrictive Agreements. The Borrower will not, and will not permit any of the Subsidiaries to, directly
or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any Subsidiary to create, incur or permit to exist any Lien upon
any of its property or assets or (b) the ability of any Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock or to make or repay loans or advances to the Borrower or any other Subsidiary or to
Guarantee Indebtedness of the Borrower or any other Subsidiary, provided that (i) the foregoing shall not apply to restrictions and conditions imposed by law or by this Agreement, (ii) the foregoing shall not apply to restrictions
and conditions existing on the date hereof identified on Schedule 7.10 (but shall apply to any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary
restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided that such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder,
(iv) clause (a) of this Section shall not apply to 
  

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restrictions or conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if such restrictions or conditions apply only to the property or assets securing
such Indebtedness and (v) clause (a) of this Section shall not apply to customary provisions in leases restricting the assignment thereof. 

Section 7.11 Amendment of Material Documents. The Borrower will not, and will not permit any Subsidiary to, amend,
modify or waive any of its rights under its certificate of incorporation, by-laws or other organizational documents, other than immaterial amendments, modifications or waivers that would not reasonably be expected to adversely affect the Agent or
any Lender. 
 Section 7.12 Senior Leverage Ratio. Tested quarterly, as of the last day of each respective
fiscal quarter contained in the periods set forth below, the Borrower’s Senior Leverage Ratio for the previous four fiscal quarters shall not at any time exceed the ratios set forth below: 

 

			
	 Period
	  	 Ratio

	 Closing Date to 06/30/11
	  	2.75:1.00
	 07/01/11 to 06/30/12
	  	2.50:1.00
	 07/01/12 to 06/30/13
	  	2.25:1.00
	 07/01/13 and each fiscal quarter thereafter
	  	2.00:1.00

Section 7.13 Total Leverage Ratio. Tested quarterly, as of the last day of each respective fiscal quarter contained in
the periods set forth below, the Borrower’s Total Leverage Ratio for the previous four quarters shall not at any time exceed the ratios set forth below: 
  

			
	 Period
	  	 Ratio

	 04/01/10 to 06/30/10
	  	4.35:1.00
	 07/01/10 to 09/30/10
	  	3.80:1.00
	 10/01/10 to 12/31/10
	  	3.40:1.00
	 01/01/11 to 03/31/11
	  	3.10:1.00
	 04/01/11 to 06/30/11
	  	3.00:1.00
	 07/01/11 and each fiscal quarter thereafter
	  	2.75:1.00

Section 7.14 Minimum Consolidated EBITDA. Tested quarterly, at the end of each respective fiscal quarter contained in
the periods set forth below and determined on a trailing twelve-month basis, the Borrower shall not, at any time, cause, permit or allow its Consolidated EBITDA to be less than the following: 

 

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	 Period
	  	 Amount

	 Closing Date through 06/30/10
	  	$	13,400,000
	 07/01/10 to 09/30/10
	  	$	14,800,000
	 10/01/10 to 12/31/10
	  	$	16,000,000
	 01/01/11 to 03/31/11
	  	$	17,000,000
	 04/01/11 to 06/30/11
	  	$	17,500,000
	 07/01/11 and each fiscal quarter thereafter
	  	$	18,400,000

Section 7.15 Fixed Charge Coverage Ratio. 

Tested quarterly, at the end of each respective fiscal quarter contained in the periods set forth below, the Borrower shall not, at any
time, permit the Fixed Charge Coverage Ratio for the four fiscal quarter period ending on such day to be less than the following respective ratios: 
  

			
	 Period
	  	 Ratio

	 Closing Date through 06/30/10
	  	1.75:1.00
	 07/01/10 through 09/30/10
	  	2.00:1.00
	 10/01/10 and thereafter
	  	2.50:1.00

Section 7.16 Maximum Capital Expenditures. Tested annually, at the end of each Fiscal Year, the Borrower shall not, at
any time, permit Capital Expenditures made or obligated to be made by the Borrower and the Subsidiaries to exceed the following amounts with respect to the periods set forth below: 

 

				
	 Period
	  	 Amount

	 Borrower’s 2010 Fiscal Year
	  	$	6,000,000
	 Borrower’s 2011 Fiscal Year
	  	$	6,900,000
	 Each Fiscal Year of the Borrower thereafter
	  	$	6,000,000

Section 7.17 Maximum Debt Outstanding. Tested quarterly, at the end of each fiscal quarter contained in the periods
set forth below, the aggregate amounts outstanding under the Convertible Senior Notes (excluding Convertible Senior Notes with a repurchase date of no earlier than one hundred eighty (180) days after January 1, 2014) and the Obligations
outstanding under this Agreement and the other Loan Documents (including but not limited to the Loans and LC Obligations) shall not at any time exceed the following amounts with respect to the periods set forth below: 

 

				
	 Period
	  	 Amount

	 Closing Date through 09/29/10
	  	$	64,000,000
	 09/30/10 to 12/30/10
	  	$	60,000,000
	 12/31/10 to 03/30/11
	  	$	55,000,000
	 03/31/11 and thereafter
	  	$	40,000,000

 The covenant set forth in this
Section 7.17 shall be eliminated upon (i) the repayment of the 
  

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Convertible Senior Notes in full or (ii) the extension of the First Repurchase Date and all other Repurchase Dates to a date no earlier than 180 days after January 1, 2014 for all
Convertible Senior Notes, and such covenant shall be replaced with the covenant set forth in Section 7.18 set forth below. 

Section 7.18 Minimum Liquidity. Effective as set forth above in Section 7.17 and tested quarterly, as of the last
day of each respective fiscal quarter contained in the periods set forth below, the Borrower shall maintain at all times Minimum Liquidity in an amount equal to at least the following amounts with respect to the periods set forth below: 

 

				
	 Period
	  	 Amount

	 11/01/2011 to 03/30/2012
	  	$	8,000,000
	 03/31/2012 and thereafter
	  	$	10,000,000

 As used in this Section,
“Minimum Liquidity” means (a) total unrestricted cash and deposit account balances of the Borrower which are not the subject of any lien, charge, pledge, security interest, or other arrangement with any creditor to have its claim
satisfied out of the asset (or proceeds thereof) prior to the general creditors of the Borrower, plus (b) aggregate unused borrowing availability under the Revolving Commitments, calculated as set forth in Section 2.01 hereof.

 Section 7.19 Amendments to Convertible Senior Notes and Indenture; Prepayment of Convertible Senior Notes.
The Borrower will not agree to any amendments to the Indenture or the Convertible Senior Notes, except for any amendments to the Indenture and the Convertible Senior Notes (a) under which the holders thereof waive their rights to require the
Borrower to redeem or repurchase the Convertible Senior Notes on the First Repurchase Date or any other Repurchase Date, (b) which have the effect of extending the First Repurchase Date, or any other Repurchase Date, from the date presently set
forth in the Convertible Senior Notes and the Indenture to a date not less than one hundred eighty (180) days after January 1, 2014, and (c) which, in connection with the foregoing, modify the conversion price. The Borrower will not
redeem or repurchase any Convertible Senior Notes prior to the First Repurchase Date or any other respective stated Repurchase Date, or prepay any principal, premium or interest upon the Convertible Senior Notes prior to any stated payment or
maturity date; except that, in the absence of any continuing Defaults or Events of Default, the Borrower may redeem, repurchase, or prepay principal amounts outstanding under the Convertible Senior Notes on the respective stated Repurchase
Date therefor, provided that, prior to, and after giving effect to, each such redemption, repurchase, or prepayment transaction: 
  

	 	(a)	The Total Leverage Ratio is less than 3.00:1.00; 

  

	 	(b)	The Borrower is in full compliance with all of the terms and conditions set forth in this Agreement and the other Loan Documents.; and 

 

	 	(c)	no Defaults or Events of Default would then exist. 

  

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 ARTICLE 8 EVENTS OF DEFAULT 

Section 8.01 Events of Default. If any of the following events or conditions (each, an “Event of Default”)
shall occur and be continuing: 
 (a) the Borrower shall fail to pay any principal of any Loan when and as the
same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise; or 

(b) the Borrower shall fail to pay any interest on any Loan or any fee, commission or any other amount or Obligation
(other than an amount referred to in clause (a) of this Section) payable under any Loan Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of five Business Days; or 

(c) any representation or warranty made or deemed made by or on behalf of any Loan Party or any other Subsidiary in or in
connection with any Loan Document or any amendment or modification hereof or waiver thereunder, or in any report, certificate, financial statement or other document furnished pursuant to or in connection with any Loan Document or any amendment or
modification hereof or waiver thereunder, shall prove to have been false or misleading in any material respect when made or deemed made; or 

(d) the Borrower shall fail to observe or perform any covenant, condition or agreement contained in Section 6.03,
6.04(a), 6.09 or 6.13 or in Article 7, or any Loan Party shall fail to observe or perform any covenant, condition or agreement contained in any other Loan Document; or 

(e) any Loan Party shall fail to observe or perform any covenant, condition or agreement contained in any Loan Document to
which it is a party (other than those specified in clause (a), (b) or (d) of this Article), and such failure shall continue unremedied for a period of thirty (30) days after such Loan Party shall have obtained knowledge thereof, or

 (f) the Borrower or any Subsidiary shall fail to make any payment (whether of principal or interest and
regardless of amount) in respect of any Material Indebtedness, when and as the same shall become due and payable (after giving effect to any applicable grace period); or 

(g) any event or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity
or that enables or permits (with or without the giving of notice, the lapse of time or both) the holder or holders of any Material Indebtedness or any trustee or Agent on its or their behalf to cause any Material Indebtedness to become due, or to
require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity (in each case after giving effect to any applicable grace period), provided that this clause (g) shall not apply

  

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to secured Indebtedness that becomes due solely as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness; or 

(h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation,
reorganization or other relief in respect of the Borrower or any Subsidiary or its debts, or of a substantial part of its assets, under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect or
(ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue
undismissed for sixty (60) days or an order or decree approving or ordering any of the foregoing shall be entered; or 

(i) the Borrower or any Subsidiary Guarantor shall (i) voluntarily commence any proceeding or file any petition
seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and
appropriate manner, any proceeding or petition described in clause (h) of this Section, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any
Subsidiary Guarantor or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors or
(vi) take any action for the purpose of effecting any of the foregoing; or 
 (j) the Borrower or any
Subsidiary Guarantor shall become unable, admit in writing its inability or fail generally to pay its debts as they become due; or 

(k) one or more judgments for the payment of money in an aggregate amount in excess of Three Million Dollars
($3,000,000.00) shall be rendered against the Borrower or any Subsidiary Guarantor or any combination thereof and the same shall remain undischarged for a period of thirty (30) consecutive days during which execution shall not be effectively
stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of the Borrower or any Subsidiary Guarantor to enforce any such judgment; or 

(l) an ERISA Event shall have occurred that, in the reasonable opinion of the Required Lenders, when taken together with
all other ERISA Events that have occurred, could reasonably be expected to result in liability of the Borrower and the Subsidiaries in an aggregate amount exceeding (i) Five Hundred Thousand Dollars ($500,000.00) in any year or (ii) One
Million Dollars ($1,000,000.00) for all periods; or 
 (m) any provision of any Loan Document (except for any
Assignment And Acceptance) shall cease, for any reason, to be in full force and effect and such cessation shall have a Material Adverse Effect, or any Loan Party shall so assert in writing or shall disavow any of its obligations thereunder; or

  

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 (n) any Lien purported to be created under any Security Document shall cease
to be, or shall be asserted by any Loan Party not to be, a valid and perfected Lien on any Collateral, with the priority required by the applicable Security Document, except as a result of an act or omission by the Agent or as a result of the sale
or other disposition of the applicable Collateral in a transaction permitted under the Loan Documents; or 
 (o)
a Change in Control shall occur; 
 (p) any failure of the common stock of the Borrower to be listed for trading
on a U.S. national securities exchange; 
 (q) failure to make any payment when due or within any applicable
grace period (whether by scheduled maturity, required payment, acceleration, demand or otherwise) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Material Indebtedness) having an aggregate principal amount of more
than One Million Dollars ($1,000,000.00); 
 (r) any “Default,” “Event of Default,” or
“Designated Event,” as such terms are defined in the Indenture shall occur, any Notice of Default under Section 5.05 of the Indenture shall be issued, or any of any of the following notices shall be issued by or to the Borrower under
or with respect to the Indenture or the Senior Convertible Notes: (i) “Notice of Default” under Sections 4.02 or 9.08 of the Indenture; (ii) “Notice of Redemption” pursuant to Sections 10.01 or 10.03 of the Indenture;
(iii) “Repurchase Notice” as defined in Section 11.01 of the Indenture; (iv) “Designated Event Repurchase Notice,” as defined in Section 12.01 of the Indenture; (v) “Designated Event Company
Notice,” as defined in Section 12.02 of the Indenture; or “Conversion Notice” as defined in Section 13.02 of the Indenture; 

(s) the occurrence of any default by any Loan Party of its obligations under any or in connection with any loan or other
credit accommodations from any Lender; 
 (t) the occurrence of any event or condition which has a Material
Adverse Effect; 
 then, and in any such event, the Agent shall have, and may exercise, any or all of the remedies described in
Section 8.02. 
 Section 8.02 Acceleration; Remedies. 

Upon the occurrence and continuation of an Event of Default, then, and in any such event, (a) if such event is an Event of Default specified in
Section 8.01(h) or Section 8.01(i) above, automatically the Revolving Commitments shall immediately terminate and the Loans (with accrued interest thereon), and all other amounts under the Loan Documents (including without limitation the
maximum amount of all contingent liabilities under Letters of Credit) shall immediately become due and payable, the Agent shall have the right to enforce any and all other rights and interests created and existing under the Loan Documents,
including, without 
  

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limitation, all rights and remedies existing under the Security Documents, all rights and remedies against a Guarantor and all rights of set-off, and the Agent shall have the right to enforce any
and all other rights and remedies of a creditor under applicable law, and (b) if such event is any other Event of Default, with the written consent of the Required Lenders, the Agent may, or upon the written request of the Required Lenders, the
Agent shall, take any or all of the following actions: (i) declare the Revolving Commitments to be terminated forthwith, whereupon the Revolving Commitments shall immediately terminate; (ii) declare the Loans (with accrued interest
thereon) and all other amounts owing under this Agreement and the Notes to be due and payable forthwith and direct the Borrower to pay to the Agent Cash Collateral as security for the LC Obligations for subsequent drawings under then outstanding
Letters of Credit in an amount equal to the maximum amount of which may be drawn under Letters of Credit then outstanding, whereupon the same shall immediately become due and payable; (iii) enforce any and all other rights and interests created
and existing under the Loan Documents, including, without limitation, all rights and remedies existing under the Security Documents, all rights and remedies against a Guarantor and all rights of set-off; and (iv) enforce any and all rights and
remedies of a creditor under applicable law. Except as expressly provided above in this Section 8.02, presentment, demand, protest and all other notices of any kind are hereby expressly waived. 

Section 8.03 Application of Funds 

After any exercise of remedies in accordance with the provisions of Section 8.02 of this Agreement (or after the Loans have
automatically become immediately due and payable and the LC Obligations have automatically been required to be Cash Collateralized as required by Section 8.02(b)(ii)), any amounts received on account of the Obligations shall be applied by the
Agent in the following order: 
 First, to payment of that portion of the Obligations constituting fees, indemnities,
expenses and other amounts (including attorney costs and amounts payable under Section 3.07 of this Agreement) payable to the Agent in its capacity as such; 

Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal and
interest) payable to the Lenders (including attorney costs and amounts payable under Section 3.07 of this Agreement), ratably among the Lenders in proportion to the amounts described in this clause Second payable to them; 

Third, to payment of that portion of the Obligations constituting accrued and unpaid interest on the Loans and LC Borrowings,
ratably among the Lenders in proportion to the respective amounts described in this clause Third payable to them; 

Fourth, to (a) payment of that portion of the Obligations constituting unpaid principal of the Loans and LC Borrowings and
(b) the Agent for the account of the LC Issuer, to provide Cash Collateral for that portion of the LC Obligations comprised of the aggregate undrawn amount of Letters of Credit, ratably among such parties in proportion to the respective amounts
described in this clause Fourth held by them; 
 Fifth, to payment of that portion of the Obligations arising out or
pertaining to any Hedging Agreements to which a Lender or any Affiliate of a Lender is a party and to that portion 
  

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of the Obligations payable to any Lender and described in clause (d) of the definition herein of Obligations; 

Sixth, to payment of all other Obligations not specifically enumerated above; and 

Last, the balance, if any, after all of the Obligations have been indefeasibly paid in full, to the Borrowers or as otherwise
required by Law. 
 Amounts used to provide Cash Collateral for the aggregate undrawn amount of Letters of Credit pursuant to clause Fourth
above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to
the other Obligations, if any, in the order set forth above. 
 ARTICLE 9 THE AGENT 

Section 9.01 Appointment 

Each of the Lenders and the Issuing Lender hereby irrevocably designates and appoints M&T as agent of such Lender under this
Agreement and the other Loan Documents and each such Lender authorizes M&T as agent for such Lender to take such action on its behalf under the provisions of this Agreement and the other Loan Documents and to exercise such powers and perform
such duties as are expressly delegated to the Agent by the terms of this Agreement and such other Loan Documents, together with such other powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of the
Credit Parties and no Loan Party shall have any rights as a third party beneficiary of any of such provisions. 

Section 9.02 Exculpatory Provisions 

The Agent shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents. Without
limiting the generality of the foregoing, the Agent: 
 (a) Shall not be subject to any fiduciary or other implied duties,
regardless of whether a Default or Event of Default has occurred and is continuing; 
 (b) Shall not have any duty to take any
discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Agent is required to exercise as directed in writing by the Required Lenders (or
such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), provided that the Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may
expose the Agent to liability or that is contrary to any Loan Document or applicable law; and 
 (c) Shall not, except as
expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any 

 

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information relating to any Loan Party or any of their Affiliates that is communicated to or obtained by the Person serving as the Agent or any of its Affiliates in any capacity. 

The Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other
number or percentage of the Lenders as shall be necessary, or as the Agent shall believe in good faith shall be necessary, under the circumstances as provided in Sections 8.02 and 10.02 or (ii) in the absence of its own gross negligence or
willful misconduct. The Agent shall be deemed not to have knowledge of any Default or Event of Default unless and until notice describing such Default or Event of Default is given to the Agent by a Credit Party or Loan Party. 

The Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation
made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or
observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default or Event of Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any
other Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Article 5 or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Agent.

 Section 9.03 Reliance by Agent 

The Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent,
statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper
Person. The Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition
hereunder to the making of a Loan, or the issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the Issuing Lender, the Agent may presume that such condition is satisfactory to such Lender or the
Issuing Lender unless the Agent shall have received notice to the contrary from such Lender or the Issuing Lender prior to the making of such Loan or the issuance of such Letter of Credit. The Agent may consult with legal counsel (who may be counsel
for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

Section 9.04 Delegation of Duties 

The Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document by or
through any one or more sub-agents appointed by the Agent. The Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective related parties. The exculpatory provisions of this
Article shall apply to any such sub-agent and to the related parties of the Agent and any such sub-agent, and shall apply to their respective activities in connection with the 

 

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syndication of the credit facilities provided for herein as well as activities as Agent. 

Section 9.05 Resignation of Agent 

The Agent may at any time give notice of its resignation to the Credit Parties and the Borrower. Upon receipt of any such notice of
resignation, the Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor, which shall be a bank with an office in the state of New York, or an Affiliate of any such bank with an office in the State of New
York. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within thirty (30) days after the retiring Agent gives notice of its resignation, then the retiring Agent may on behalf of
the Lenders and the Issuing Lender, appoint a successor Agent meeting the qualifications set forth above provided that if the Agent shall notify the Borrower and the Lenders and Issuing Lender that no qualifying Person has accepted such appointment,
then such resignation shall nonetheless become effective in accordance with such notice and (1) the retiring Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any
collateral security held by the Agent on behalf of the Lenders or the Issuing Lender under any of the Loan Documents, the retiring Agent shall continue to hold such collateral security until such time as a successor Agent is appointed) and
(2) all payments, communications and determinations provided to be made by, to or through the Agent shall instead by made by or to each Lender and the Issuing Lender directly, until such time as the Required Lenders appoint a successor Agent as
provided for above in this paragraph. Upon the acceptance of a successor’s appointment as Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired)
Agent, and the retiring Agent shall be discharged therefrom as provided above in this paragraph). The fees payable by the Borrower to a successor Agent shall be the same as those payable to its predecessor unless otherwise agreed between the
Borrower and such successor. After the retiring Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article and Section shall continue in effect for the benefit of such retiring Agent, its sub-agents and
their respective related parties in respect of any actions taken or omitted to be taken by any of them while the retiring Agent was acting as Agent. 

Section 9.06 Non-Reliance on Agent and Other Lenders 

Each Lender and the Issuing Lender acknowledges that it has, independently and without reliance upon the Agent or any other Lender or any
of their related parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and the issuing Lender also acknowledges that it will,
independently and without reliance upon the Agent or any other Lender or any of their related parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not
taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder. 

Section 9.07 Agent May Hold Collateral For Lenders and Others 

 

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 The Lenders and the Borrower acknowledge that any financing statements, guaranties, stock
pledge agreements, mortgages, deeds of trust, or security documents relating to the Loans, the Obligations, or the Collateral, including all of such documents filed in the public records in order to evidence or perfect the Liens and security
interests granted in the Loan Documents, may name only the Agent, as agent for the Lenders (including, but not limited to, the Swingline Lender and the Issuing Lender) as the secured party, mortgagee, beneficiary, or as lienholder. The Lenders
(including, but not limited to, the Swingline Lender and the Issuing Lender) and the Borrower authorize the Agent to hold any or all of the above-described security interests and Liens in and to the Collateral as the agent for the Lenders.

 Section 9.08 No Independent Actions By Lenders With Respect to Collateral Or Remedies; Exercise of Control Of
Acquisition Of Title 
 Each Lender and the Issuing Lender hereby authorizes the Agent to take such actions in the name
of the Agent or in the name of the Lenders and the Issuing Lender as may be required to enforce the terms and conditions of any of the Loan Documents, including but not limited to the exercise of any remedies or enforcement rights. Each Lender and
the Issuing Lender agrees that it shall not have any right individually to seek to realize upon any Collateral or other security granted by any of the Loan Documents or to individually exercise any of the remedies or rights of enforcement provided
by the Loan Documents or as otherwise available under applicable Laws, it being agreed that such rights and remedies shall be exercised only by the Agent for the benefit of the Lenders and the Issuing Lender in accordance with the terms of the Loan
Documents. 
 Section 9.09 The Agent In Its Individual Capacity 

The Person serving as the Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may
exercise the same as though it were not the Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, includes the Person serving as the Agent hereunder in its
individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other
Affiliate thereof as if such Person were not the Agent hereunder and without any duty to account therefor to the Lenders. 

Section 9.10 Documentation Agent. No Lender identified on the facing page to this Agreement or otherwise in this
Agreement as a “documentation agent” shall have any right, power, obligation, liability, responsibility or duty under this Agreement other than, in the case of such Lender, those applicable to Lenders as such. Without limiting the
foregoing, none of the Lenders or Persons so identified shall have or be deemed to have any fiduciary relationship with any Lender. Each Lender acknowledges that it has not relied, and will not rely, on any of the other Lenders or any Person so
identified in deciding to enter into this Agreement or in taking or not taking action hereunder. 
  

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 ARTICLE 10 MISCELLANEOUS 

Section 10.01 Notices 

Except in the case of notices and other communications expressly permitted to be given by telephone, all notices and other communications
provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopy, as follows: 

 

	 	(a)	if to the Borrower: 

 LeCroy
Corporation 
 700 Chestnut Ridge Road 

Chestnut Ridge, New York 10977 

Attention: Sean O’Connor 

Telephone No.: (845) 425-2000 

Telecopy No.: (845) 578-8967 

with a courtesy copy to: 

Fish & Richardson, P.C. 

225 Franklin Street 

Boston, MA 02110 

Attention: Roger D. Feldman, Esquire 

Telephone No.: (617) 956-5924 

Telecopy No.: (617) 542-8906 
  

	 	(b)	if to the Agent (with a copy to each of the Lenders): 

Manufacturers and Traders Trust Company 

303 South Broadway, Suite 130 

Tarrytown, NY 10591 

Attention: Chris Tesla, CFA, CPA 

Telephone No.: (914) 366-5815 

Telecopy No.: (914) 366-8523 

And to: 

Manufacturers and Traders Trust Company 

25 S. Charles Street,
12th Floor 

Baltimore, Maryland 21201 

Attention: Robert H. Hauver 

Telephone No.: (410) 545-2797 

Telecopy No.: (410) 545-2079 

(c) if to any other Credit Party, to it at its address (or telecopy number) set forth on the signature pages of this Agreement or in any
Assignment And Acceptance. 
  

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 Any party hereto may change its address or telecopy number for notices and other communications hereunder by
notice to the other parties hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt. 

The failure of any Credit Party to send the above-noted courtesy copy shall not impair the effectiveness of any notice given to the Borrower in the
manner provided herein. 
 Section 10.02 Waivers; Amendments 

(a) No failure or delay by any party hereto in exercising any right or power under any Loan Document shall operate as a waiver thereof,
nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The
rights and remedies of the Credit Parties under the Loan Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of any Loan Document or consent to any departure by any Loan
Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No waiver
or indulgence by any of the Credit Parties shall constitute a future waiver of performance or exact performance by the Borrower. No amendment or waiver shall be effective unless in writing. Without limiting the generality of the foregoing, the
making of a Loan shall not be construed as a waiver of any Default or an Event of Default, regardless of whether any Credit Party may have had notice or knowledge of such Default or Event of Default at the time. 

(b) Except as expressly set forth below in this Section, any term, covenant, agreement or condition of this Agreement or of any of the
other Loan Documents may be amended or waived by the Required Lenders on behalf of the Lenders, and any consent may be given by the Required Lenders on behalf of the Lenders; provided, however, that no amendment, waiver or consent shall
(i) without the prior written consent of each Lender directly affected thereby, (A) increase or decrease the principal amount of the Revolving Committed Amount (except as contemplated by Section 2.01(d)), (B) extend the Maturity
Date, the Swingline Maturity Date, the LC Expiration Date, or the expiration date of the Revolving Commitments, (C) change the Revolving Commitment Percentage or Revolving Commitment of any such Lender (except as specifically permitted to
reflect an assignment pursuant to the assignment provisions of Section 10.04 of this Agreement), (D) postpone the originally scheduled time or times of payment of the principal of any of the Loans, the time or times of payment of interest
or fees on account of any of the Loans or Letters of Credit, or the time or times of payment of any of the reimbursement obligations in respect of Letters of Credit or of any other LC Obligations, (E) reduce the rate of interest or fees payable
on any of the Loans or reduce any fees relating to Letters of Credit; (F) change Section 2.08 in a manner that would alter the pro rata sharing of payments required thereby or change Section 8.03; (ii) without the prior written
consent of all of the Lenders, (A) release all or substantially all of the Collateral (other than as specifically authorized by the terms of this Agreement or any of the other Loan Documents), (B) amend the definition of Required Lenders
or modify in any other manner the number or percentage of Lenders required to make any determinations; (C) release any Subsidiary Guarantor; (D) until all 

 

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of the Convertible Senior Notes have been redeemed in full (on terms and conditions set forth in this Agreement) or all Repurchase Dates thereof extended to a date not less than one hundred
eighty (180) days after January 1, 2014, permit the creation, incurrence, or assumption of any additional Indebtedness by any of the Loan Parties other than such Indebtedness specifically permitted under Section 7.01 hereof; or
(E) amend the provisions of this Section 10.02(a); and provided, further, that no such agreement shall amend, modify or otherwise affect the rights or duties of the Agent, the Swingline Lender, or the Issuing Lender hereunder
without the prior written consent of the Agent, Swingline Lender, and Issuing Lender, respectively. Except as expressly provided to the contrary in this Agreement and with the exception of amendments to any provision of Article 9 of this
Agreement, this Agreement may not be amended without the prior written consent of the Borrower. The Agent and all of the Lenders may amend or modify any provision of Article 9 of this Agreement without the need for any consent or approval from
the Borrower. 
 Section 10.03 Expenses; Indemnity; Damage Waiver 

(a) The Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by the Agent and its Affiliates (including the
reasonable fees, charges and disbursements of counsel for the Agent) in connection with the syndication of the credit facilities provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement and the
other Loan Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated) and the recordation of any Loan Documents (including all
recording costs and taxes, transfer taxes, documentary stamps, and the like), (ii) all reasonable out-of-pocket expenses incurred by the Issuing Lender in connection with the issuance, amendment, renewal or extension of any Letter of Credit or
any demand for payment thereunder and (iii) all out-of-pocket expenses incurred by the Agent, any Lender or the Issuing Lender (including the fees, charges and disbursements of any counsel for the Agent, any Lender or the Issuing Lender in
connection with the endorsement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Loans made or Letters of Credit issued
hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 

(b) The Borrower shall indemnify the Agent (and any sub-agent thereof), each Lender and the Issuing Lender and each related party of any
of the foregoing Persons (each such Person being called an “Indemnitee” against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (including the reasonable fees, charges
and disbursements of any counsel for any Indemnitee) incurred by any Indemnitee or asserted against any Indemnitee by any third party or by the Borrower or any other Loan Party arising out of, in connection with, or as a result of (i) the
execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the
transactions contemplated hereby or thereby, (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the Issuing Lender to honor a demand for payment under a Letter of Credit if the
documents presented in connection with such demand do not strictly comply with the terms of 
  

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such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower or any of its Subsidiaries, or any
Environmental Liability related in any way to the Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing whether based on contract, tort or any
other theory, whether brought by a third party or by the Borrower or any other Loan Party, and regardless of whether any Indemnitee is a party thereto, provided that such indemnity shall not as to any Indemnitee, be available to the extent
that such losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of any Indemnitee or
(y) result from a claim brought by the Borrower or any other Loan Party against any Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if the Borrower or such Loan Party has
obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction. 

(c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of
this Section to be paid by it to the Agent (or any sub-agent thereof), the Issuing Lender or any related party of any of the foregoing, each Lender severally agrees to pay to the Agent (or any sub-agent), the Issuing Lender or such related party, as
the case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount, provided that the unreimbursed expense or indemnified loss,
claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Agent (or any such sub-agent) or the Issuing Lender in its capacity as such, or against any related party of any of the foregoing acting for the
Agent (or any such sub-agent) or Issuing Lender in connection with such capacity. 
 (d) To the fullest extent permitted by
applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in
connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No
Indemnitee referred to in paragraph (b) above shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed by it through telecommunications, electronic or other information
transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby. 

(e) All amounts due under this Section 10.03 shall be payable not later than three (3) Business Days after demand therefor.

 Section 10.04 Successors and Assigns 

(a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors
and assigns permitted hereby, except that neither the Borrower nor any other Loan Party may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Agent and each other

  

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Credit Party and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee in accordance with the provisions of paragraph
(b) of this Section, (ii) by way of participation in accordance with the provisions of paragraph (f) of this Section or (iii) by way of pledge or assignment of a security interest subject to the restrictions of paragraph
(h) of this Section (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their
respective successors and assigns permitted hereby, Participants to the extent provided in paragraph (f) of this Section) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

(b) Each Lender may assign to one or more Eligible Assignees all or any portion of such Lender’s interests, rights and obligations
set forth in this Agreement or the other Loan Documents (including all or a portion of the Revolving Loans at the time owing to such Lender and the Notes held by such Lender) provided that: (i) an administrative fee in the amount of Three
Thousand Five Hundred Dollars ($3,500.00) is paid to the Agent by either the assigning Lender or the Assignee in connection with the assignment; (ii) if less than all of the assigning Lender’s Revolving Commitment is to be assigned, the
Revolving Commitment so assigned shall be for an aggregate principal amount of not less than Five Million Dollars ($5,000,000.00); (iii) the parties to each such assignment shall execute and deliver an Assignment And Acceptance to the Agent
(with copies to be sent contemporaneously to each Lender), for its acceptance; and (iv) such Assignment And Acceptance does not require the filing of a registration statement with the Securities And Exchange Commission or require the Loans or
the Notes to be qualified in conformance with the requirements imposed by any blue sky laws or other laws of any state. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment And
Acceptance, which effective date is at least five (5) Business Days after the execution thereof, (i) the Assignee thereunder shall be a party hereto and, to the extent provided in such Assignment And Acceptance, have the rights, duties,
and obligations of a Lender hereunder, and (ii) the assigning Lender thereunder shall, to the extent provided in such Assignment And Acceptance, be released from its duties and obligations under this Agreement but shall continue to be entitled
to the protections, indemnifications and benefits of Sections 3.05, 3.06, 3.07, and 10.03 and all other indemnification and reimbursement rights provided to the Lenders by the Borrower pursuant to any of the Loan Documents with respect to facts,
events, and circumstances occurring prior to the effective date of such assignment. 
 (c) By executing and delivering an
Assignment and Assumption, the assigning Lender thereunder and the Assignee thereunder confirm to and agree with each other and the other parties to this Agreement as set forth in such Assignment and Assumption. Any assignment or transfer by a
Lender of rights or obligations under the Loan Documents that does not comply with this paragraph shall be treated for purposes of the Loan Documents as a sale by such Lender of a participation in such rights and obligations in accordance with
paragraph (f) of this Section. 
 (d) The Agent shall maintain a copy of each Assignment and Assumption delivered to it and
a register for the recordation of the names and addresses of the Lenders and the amount of the Loans with respect to each Lender from time to time (the “Register”). The entries in the Register shall be conclusive, in the absence of
manifest error, and the Borrower, the Agent and the Lenders may treat each Person whose name is recorded in the Register as a Lender 

 

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hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Borrower or the Lenders at any reasonable time and from time to time upon reasonable prior
notice. 
 (e) Upon the Agent’s receipt of an Assignment and Assumption executed by an assigning Lender and an Eligible
Assignee together with any Note or Notes subject to such Assignment and Assumption and the written consent to such Assignment and Assumption, the Agent shall, if such Assignment and Assumption has been completed and is substantially in the form of
Exhibit A: (i) accept such Assignment and Assumption; (ii) record the information contained therein in the Register; (iii) give prompt notice thereof to the Borrower; and (iv) promptly deliver a copy of such Assignment and
Assumption to the Borrower. Within three (3) Business Days after receipt of notice, the Borrower shall execute and deliver to the Agent, in exchange for the surrendered Note or Notes, a new Note or Notes to the order of such Eligible Assignee
in amounts equal to the Revolving Commitment (and Revolving Commitment Percentage) assumed by it pursuant to such Assignment and Assumption and a new Note or Notes to the order of the assigning Lender in an amount equal to the Revolving Commitment
(and Revolving Commitment Percentage) retained by the assigning Lender. Such new Note or Notes shall be in an aggregate stated principal amount equal to the aggregate principal amount of such surrendered Note or Notes, shall be dated the effective
date of such Assignment and Assumption and shall otherwise be in substantially the form of the assigned Notes delivered to the assigning Lender. Each surrendered Note or Notes shall be canceled and returned to the Borrower. The Borrower expressly
acknowledges that the cancellation of any Note or Notes and the replacement of any Note or Notes in accordance with this provision shall not constitute or be deemed to be a refinancing or a novation of any of the Obligations. 

(f) Any Lender may at any time, without the consent of, or notice to, the Borrower or the Agent, sell participations to any Person (other
than to a natural person or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a
portion of its Revolving Commitment and/or the Loans owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties
hereto for the performance of such obligations and (iii) the Borrower, the Agent, the Lenders, the Issuing Lender and Swingline Lender shall continue to deal solely and directly such Lender in connection with such Lender’s rights and
obligations under this Agreement. 
 (g) Any agreement or instrument pursuant to which a Lender sells such a participation shall
provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or wavier of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender
will not, without the consent of the Participant, agree to any amendment, modification or waiver that affects such Participant which (i) increases or decreases the principal amount of the Revolving Commitment of such Lender, (ii) extends
the Maturity Date, Swingline Maturity Date or LC Expiration Date or the expiration date of the Revolving Commitment, (iii) postpones the time of payment of principal, interest or fees on account of the Loans, (iv) reduces the rates of
interest payable on the Loans or reduces any fees payable under the Loan Documents, or (v) releases substantially all of the collateral that affects such Participant. Subject to paragraph (h) of this Section, the

  

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Borrower agrees that each Participant shall be entitled to the benefits of Sections 3.05, 3.06, and 3.07 to the same extent as if it were a Lender and had acquired its interest by assignment
pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 10.08 as though it were a Lender, provided such Participant agrees to be subject to
Section 2.08(c) as though it were a Lender. 
 (h) A Participant shall not be entitled to receive any greater payment under
Sections 3.05 or 3.07 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written
consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 3.07 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the
benefit of the Borrower, to comply with Section 3.07(e) as though it were a Lender. 
 (i) Any Lender may at any time
pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such
pledge or assignment shall release such Lender from an of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

(j) Notwithstanding anything to the contrary contained herein, if at any time M&T assigns all of its Revolving Commitment and Loans
pursuant to subsection (b) above, M&T may, (i) upon thirty (30) days’ notice to the Borrower and the Lenders, resign as Issuing Lender and/or (ii) upon thirty (30) days’ notice to the Borrower, resign as
Swingline Lender. In the event of any such resignation as Issuing Lender or Swingline Lender, the Borrower shall be entitled to appoint from among the Lenders a successor Issuing Lender or Swingline Lender hereunder; provided, however,
that no failure by the Borrower to appoint any such successor shall affect the resignation of M&T as Issuing Lender or Swingline Lender, as the case may be. If M&T resigns, it shall retain all the rights, powers, privileges and duties of the
Issuing Lender hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as Issuing Lender and all LC Obligations with respect thereto. If M&T resigns as Swingline Lender, it shall retain all the
rights of the Swingline Lender provided for hereunder with respect to Swingline Loans made by it and outstanding as of the effective date of such resignation. Upon the appointment of a successor Issuing Lender and/or Swingline Lender, (a) such
successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Issuing Lender or Swingline Lender, as the case may be, and (b) the successor Issuing Lender shall issue letters of credit in
substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to M&T to effectively assume the obligations of M&T with respect to such Letters of Credit. 

Section 10.05 Survival 

All covenants, agreements, representations and warranties made by the Borrower herein and in the certificates or other instruments
prepared or delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of any Loan Document and the
making of any Loans, regardless of any investigation made by any such other 
  

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party or on its behalf and notwithstanding that any Credit Party may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended
hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under the Loan Documents is outstanding and unpaid and so long as the Revolving Commitments
have not expired or terminated. The provisions of Sections 3.05, 3.06, 3.07 and 10.03 and Article 9 shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the resignation of the
Agent, the Issuing Lender and the Swingline Lender, the replacement of any Lender, the repayment of the Loans and the termination of the Revolving Commitments or the termination of this Agreement or any provision hereof. 

Section 10.06 Counterparts; Integration; Effectiveness; Electronic Execution 

(a) This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute single contract. This Agreement and the other Loan Documents, and any separate letter agreements with respect to fees payable to the Agent or to M&T, constitute the
entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Until the conditions precedent set forth in Article 5
have been satisfied or waived in accordance with the terms hereof and this Agreement becomes effective, as set forth below, the terms of the Original Credit Agreement shall remain in effect. Except as provided in Article 5, this Agreement shall
become effective when it shall have been executed by the Agent and when the Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto, and upon this Agreement becoming effective
in accordance with the foregoing, it shall replace and supersede in its entirety the terms of the Original Credit Agreement. Delivery of an executed counterpart of a signature page of this Agreement by telecopy shall be effective as delivery of a
manually executed counterpart of this Agreement. 
 (b) The words “execution”, “signed,”
“signature,” and words of like import in any Assignment and Assumption shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or
enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National
Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 

Section 10.07 Severability 

In the event any one or more of the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any
respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby (it being understood that the invalidity of a particular provision in a particular jurisdiction
shall not in and of itself affect the validity of such provision in any other jurisdiction). The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable

  

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provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

Section 10.08 Right of Setoff 

If an Event of Default shall have occurred and be continuing, each of the Lenders and their respective Affiliates is hereby authorized at
any time and from time to time, to the fullest extent permitted by applicable law, to setoff and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations at any time owing by it to
or for the credit or the account of the Borrower against any of and all the obligations of the Borrower now or hereafter existing under this Agreement held by it, irrespective of whether or not it shall have made any demand under this Agreement and
although such obligations may be unmatured. The rights of each the Lenders and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that it may have. 

Section 10.09 Governing Law; Jurisdiction; Consent to Service of Process 

(a) This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York. 

(b) The Borrower hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of any New
York State court or Federal court of the United States of America sitting in New York City, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement or the other Loan Documents, or for
recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that, to the extent permitted by applicable law, all claims in respect of any such action or proceeding may be heard and
determined in such New York State or, to the 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 shall affect any right that the Agent or any other Credit Party may otherwise have to bring any action or proceeding relating to this Agreement
or the other Loan Documents against the Borrower, or any of its property, in the courts of any jurisdiction. 
 (c) The Borrower
hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this
Agreement or the other Loan Documents 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. 
  

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 (d) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 10.01. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

Section 10.10 WAIVER OF JURY TRIAL 

EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN
RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL
WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 Section 10.11 Headings 

Article and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement
and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

Section 10.12 Interest Rate Limitation 

Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents
shall not exceed the maximum rate of non-usurious interest permitted by applicable law (the “Maximum Rate”). If the Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest
shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by the Agent or a Lender exceeds the Maximum Rate, such Person
may, to the extent permitted by applicable law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize,
prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligation hereunder. 
  

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 Section 10.13 Treatment of Certain Information; Confidentiality.

 Each Credit Party agrees to maintain the confidentiality of the Information (as defined below), except that Information
may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective partners, directors, officers, employees, agents, advisors and representatives (it being understood that the Persons to whom such disclosure is made will be
informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent requested by an regulatory authority purporting to have jurisdiction over it (including any self-regulatory
authority, such as the National Association of Insurance Commissioners), (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any other party hereto, (e) in connection with
the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement
containing provisions substantially the same as those in this Section, to any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement or (g) to the extent such
Information (x) becomes publicly available other than as a result of a breach of this Section or (y) becomes available to any of the Credit Parties or any of their respective Affiliates on a nonconfidential basis from a source other than
the Borrower. 
 For purposes of this Section, “Information” means all information received from any Loan Party
relating to the Loan Parties or any of their respective businesses, other than any such information that is available to the Credit Parties on a nonconfidential basis prior to disclosure by the Loan Parties, provided that, in the case of
information received from the Loan Parties after the date hereof, such information is clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section shall be
considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 

Each of the Credit Parties acknowledges that (a) the Information may include material non-public information concerning the Loan
Parties, (b) it has developed compliance procedures regarding the use of material non-public information and (c) it will handle such material non-public information in accordance with all applicable Laws, including Federal and state
securities Laws. 
 Section 10.14 Acknowledgments. The Borrower and the other Loan Parties each hereby
acknowledges that: 
 (a) it has been advised by counsel in the negotiation, execution and delivery of each Loan Document;

 (b) no Credit Party has any fiduciary relationship with or duty to the Borrower or any other Loan Party arising out of or in
connection with this Agreement and the relationship between the Credit Parties, on one hand, and the Borrower and the other Loan Parties, on the other hand, in connection herewith is solely that of creditor and debtor; and 

 

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 (c) no joint venture exists among the Credit Parties or among the Borrower or the other Loan
Parties and the Credit Parties. 
 Section 10.15 USA Patriot Act Notice. 

Each Lender that is subject to the Act and the Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that
pursuant to the requirements of the Act it is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow such Lender or the
Agent, as applicable, to identify the Borrower in accordance with the Act. 
 [Signature Pages to Follow] 

 

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 Signature Page To Amended and Restated Credit Agreement: 

IN WITNESS WHEREOF, each of the CREDIT PARTIES and the BORROWER have duly executed this AGREEMENT under seal to be effective as of the
date first above written. 
  

									
	WITNESS/ATTEST:	 		 	BORROWER:
			
		 		 	 LECROY CORPORATION,

A Delaware Corporation

					
	  
	 		 	By:	 	 /s/ Sean B. O’Connor
	 	(SEAL)
		 		 		 	Name: Sean B. O’Connor
		 		 		 	 Title: Vice President, Finance, Chief Financial Officer,

            Secretary and Treasurer

				
		 		 	AGENT:	 	
			
		 		 	MANUFACTURERS AND TRADERS TRUST COMPANY, A New York Banking Corporation, In Its Capacity As Agent For The Lenders
					
	  
	 		 	By:	 	 /s/ Chris Tesla
	 	(SEAL)
		 		 		 	Name: Chris Tesla	 	
		 		 		 	 Title: Vice President

          Manufacturers and Traders Trust Company
	 	

 Signature Page To Amended and Restated Credit Agreement: 

 

									
	WITNESS/ATTEST:	 		 	LENDER:	 	
				
		 		 	CAPITAL ONE, N. A.,	 	
		 		 	A National Banking Association,	 	
		 		 	Successor to North Fork Bank,	 	
		 		 	In Its Capacity As A Lender	 	
					
	  
	 		 	By:	 	 /s/ J. Scott Bognar
	 	(SEAL)
		 		 		 	Name: J. Scott Bognar	 	
		 		 		 	 Title: Senior Vice President

          Capital One Bank
	 	

 Notice Address: 

CAPITAL ONE, N. A. 
 Middle Market Lending

 1001 Avenue of the Americas 
 New
York, New York 10018 
 Manhattan: 212-764-8311 

	Attn:	J. Scott Bognar 

 Senior Vice
President/Capital One Bank 

 Signature Page To Amended and Restated Credit Agreement: 

 

									
	WITNESS/ATTEST:	 		 	LENDER:	 	
				
		 		 	RBS CITIZENS, N.A.	 	
		 		 	In Its Capacity As A Lender	 	
					
	  
	 		 	By:	 	 /s/ Anthony M. Selvaggio
	 	(SEAL)
		 		 		 	Name: Anthony M. Selvaggio	 	
		 		 		 	 Title: Vice President

          RBS Citizens, N.A.
	 	

 Notice Address: 

RBS CITIZENS, N.A. 
 711 Westchester Ave, Suite
302 
 White Plains, NY 10604 
 Attn:
Anthony M. Selvaggio 
 Facsimile: (914) 288-8452 

 Signature Page To Amended and Restated Credit Agreement: 

 

									
	WITNESS/ATTEST:	 		 	LENDER:	 	
				
		 		 	MANUFACTURERS AND TRADERS TRUST COMPANY, A New York Banking Corporation, In Its Capacity As A Lender	 	
					
	  
	 		 	By:	 	 /s/ Chris Tesla
	 	(SEAL)
		 		 		 	Name: Chris Tesla	 	
		 		 		 	 Title: Vice President

          Manufacturers and Traders Trust Company
	 	

 Notice Address: 

MANUFACTURERS AND TRADERS TRUST COMPANY 
 303
South Broadway, Suite 130 
 Tarrytown, NY 10591 

Attention: Chris Tesla, CFA, CPA 
 Facsimile:
(914) 366-8523 
 MANUFACTURERS AND TRADERS TRUST COMPANY 

25 S. Charles Street,
12th Floor 

Baltimore, Maryland 21201 
 Attention: Robert H.
Hauver 
 Facsimile: (410) 545-2079 

 Signature Page To Amended and Restated Credit Agreement: 

 

									
	WITNESS/ATTEST:	 		 	SWINGLINE LENDER:	 	
				
		 		 	MANUFACTURERS AND TRADERS TRUST COMPANY	 	
		 		 	A New York Banking Corporation,	 	
		 		 	In Its Capacity As Swingline Lender	 	
					
	  
	 		 	By:	 	 /s/ Chris Tesla
	 	(SEAL)
		 		 		 	Name: Chris Tesla	 	
		 		 		 	 Title: Vice President

          Manufacturers and Traders Trust Company
	 	

 Notice Address: 

MANUFACTURERS AND TRADERS TRUST COMPANY 
 303
South Broadway, Suite 130 
 Tarrytown, NY 10591 

Attention: Chris Tesla, CFA, CPA 
 Facsimile:
(914) 366-8523 
 MANUFACTURERS AND TRADERS TRUST COMPANY 

25 S. Charles Street,
12th Floor 

Baltimore, Maryland 21201 
 Attention: Robert H.
Hauver 
 Facsimile No.: (410) 545-2079 

 Signature Page To Amended and Restated Credit Agreement: 

 

									
	WITNESS/ATTEST:	 		 	ISSUING LENDER:	 	
				
		 		 	MANUFACTURERS AND TRADERS TRUST COMPANY, A New York Banking Corporation, In Its Capacity As Issuing Lender	 	
					
	  
	 		 	By:	 	 /s/ Chris Tesla
	 	(SEAL)
		 		 		 	Name: Chris Tesla	 	
		 		 		 	 Title: Vice President

          Manufacturers and Traders Trust Company
	 	

 Notice Address: 

MANUFACTURERS AND TRADERS TRUST COMPANY 
 303
South Broadway, Suite 130 
 Tarrytown, NY 10591 

Attention: Chris Tesla, CFA, CPA 
 Facsimile:
(914) 366-8523 
 MANUFACTURERS AND TRADERS TRUST COMPANY 

25 S. Charles Street,
12th Floor 

Baltimore, Maryland 21201 
 Attention: Robert H.
Hauver 
 Facsimile No.: (410) 545-2079 

 Schedule 2.01 

Lenders and Commitments 
  

							
	 Lender
	  	 Amount of Revolving

Commitment
	  	 Revolving Commitment

Percentage
	 
			
	 Manufacturers and Traders Trust Company
	  	$	20,000,000.00	  	40.00	% 
			
	 Capital One, National Association, Successor to North Fork Bank
	  	$	15,000,000.00	  	30.00	% 
			
	 RBS Citizens, N.A.
	  	$	15,000,000.00	  	30.00	% 
			
	 Total Revolving Committed Amount
	  	$	50,000,000.00	  	100.00	% 

 Exhibit B 

GUARANTY AGREEMENT 

THIS GUARANTY AGREEMENT (“Guaranty”) is made to be effective as of July 29, 2010, by LECROY LIGHTSPEED CORPORATION, a
Delaware corporation (“Guarantor”), to MANUFACTURERS AND TRADERS TRUST COMPANY, a New York banking corporation, individually, and in its capacity as “Agent” (in such capacity, “Agent”), acting for and on behalf of those
persons who are now or who hereafter become a “Lender,” “Swingline Lender,” and “Issuing Lender” (as such terms are defined in the Credit Agreement (as hereinafter defined), including the Agent in its capacity as a
Lender, Swingline Lender and Issuing Lender), under the Amended and Restated Credit Agreement dated to be effective as of even date herewith (as the same may be amended, modified, extended, renewed, restated, supplemented or replaced, “Credit
Agreement”), and to each of the Lenders, Swingline Lender and the Issuing Lender, with respect to the obligations of LECROY CORPORATION, a Delaware corporation (“Borrower”). Capitalized terms which are not otherwise defined in this
Guaranty shall have the meanings set forth in the Credit Agreement. 
 RECITALS 

The Borrower has requested certain credit accommodations from the Lenders, the Swingline Lender, and the Issuing Lender. The Lenders, the
Swingline Lender, and the Issuing Lender have agreed to provide the requested credit accommodations to the Borrower, but only if the Guarantor provides to the Agent, the Lenders, the Swingline Lender, and the Issuing Lender (collectively,
“Secured Parties”) the guaranties of payment and performance set forth in this Guaranty. The Guarantor is willing to provide this Guaranty to the Secured Parties in order to induce the Lenders, the Swingline Lender, and the Issuing Lender
to provide the requested credit accommodations to the Borrower. 
 NOW, THEREFORE, in consideration of these premises and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Guarantor hereby agrees to provide to the Secured Parties the following guaranties and indemnifications. 

Section 1. Guaranty. The Guarantor guarantees to the Agent for the benefit of the Secured Parties and to the Secured Parties:
(a) the payment of any and all sums now or hereafter due and owing to the any of the Secured Parties by the Borrower as a result of or in connection with any and all existing or future indebtedness, liability, or obligation of every kind,
nature, type, and variety owed by the Borrower to any of the Secured Parties from time to time, arising out of or related to any credit accommodation, loan, letter of credit, guaranty, depository relationship, transaction, event, or occurrence,
whether direct or indirect, absolute or contingent, primary or secondary, joint or several, unconditional or conditional, known or unknown, liquidated or unliquidated, contractual or tortious, including all renewals, refinancings, extensions,
substitutions, amendments, and modifications thereof, no matter when or how created, arising, evidenced, or acquired, and whether or not presently contemplated or anticipated, including, but not limited to, all amounts of principal, interest,
charges, reimbursements, advancements, escrows, and fees; (b) that all sums now or hereafter due and owing by the Borrower to any of the Secured Parties shall be paid when and as due, whether by reason of installment, maturity, acceleration or
otherwise, time being of the essence; and (c) the timely, complete, continuous, and strict performance and observance by the Borrower of each of the terms, covenants, agreements and conditions contained in any and all existing or future
documents, instruments, agreements, and writings of every kind, nature, type, and variety which evidence, reflect, embody, give rise to or secure any and all existing and future indebtedness, liabilities, and obligations of any kind of the Borrower
to any of the Secured Parties under the Credit Agreement or any other document executed in connection with or related to the Credit Agreement (collectively, “Loan Documents”). As used in this Guaranty, the term “Obligations”
shall refer to the obligations of payment, performance, and indemnification which the Guarantor has undertaken and assumed pursuant to this Guaranty, both as described in this Section and in other Sections of this Guaranty. This Guaranty shall be
administered and enforced by the Agent on behalf and for the ratable and proportionate benefit of the Secured Parties in accordance with the Credit Agreement. 

Section 2. Nature Of Guaranty. This Guaranty: (a) is (i) irrevocable, (ii) absolute and unconditional,
(iii) direct, immediate, and primary, and (iv) one of payment and not just collection; and (b) makes the Guarantor a surety to the Agent for the benefit of the Secured Parties, and to each of the Secured Parties, with respect to the
Obligations and the equivalent of a co-obligor with the Borrower. Without limiting the foregoing, it is specifically understood that any modification, limitation or discharge of any of the liabilities or obligations of the Borrower, any other
guarantor or any 

 
other obligor under any of the Loan Documents, arising out of, or by virtue of, any bankruptcy, arrangement, reorganization or similar proceeding for relief of debtors under federal or state law
initiated by or against the Borrower, any other guarantor or any obligor under any of the Loan Documents shall not modify, limit, lessen, reduce, impair, discharge, or otherwise affect the liability of the Guarantor hereunder in any manner
whatsoever, and this Guaranty shall remain and continue in full force and effect. 
 Section 3. Security Interests.
The obligations of the Guarantor hereunder are secured by the collateral and in accordance with the terms set forth and described in the Credit Agreement and the other Loan Documents. 

Section 4. Accuracy Of Representations. The Guarantor guaranties that all representations and warranties made by the Borrower
or by the Guarantor to any of the Secured Parties prior to or after the date of this Guaranty are and will continue to be true, correct, accurate, and complete and not knowingly misleading, and the Guarantor agrees to indemnify and hold each of the
Secured Parties harmless from any loss, cost, or expense which any of the Secured Parties may suffer, sustain or incur as a result of any representation or statement of the Borrower or of the Guarantor being materially false, incorrect, inaccurate,
incomplete, or knowingly misleading. 
 Section 5. Representations Of Guarantor. To induce the Secured Parties to
accept this Guaranty for the purposes for which it is given, the Guarantor represents and warrants to the Secured Parties as follows: 

(a) The Guarantor is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its
organization. The Guarantor has the lawful power to own its properties and to engage in the business it conducts, and, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material
Adverse Effect, is duly qualified and in good standing as a foreign corporation in every jurisdiction where such qualification is required. 

(b) Any financial statements submitted by the Guarantor to the Secured Parties, including any schedules and notes pertaining thereto,
have been prepared in accordance with GAAP, and fully and fairly present the financial condition of the Guarantor at the dates thereof and the results of operations for the periods covered thereby, and there has been no material adverse change in
the financial condition or business of the Guarantor from the dates thereof to the date hereof, other than as disclosed to the Secured Parties. 

(c) The Guarantor is not in default with respect to any of its existing indebtedness, and the making and performance of this Guaranty
will not (immediately, with the passage of time, the giving of notices, or both), (i) violate the organizational documents of the Guarantor, (ii) violate any applicable law or regulation, (iii) result in a default under any contract,
agreement, or instrument to which the Guarantor is a party or by which the Guarantor or its property is bound, or (iv) result in the creation or imposition of any security interest in, or lien or encumbrance upon, any of the assets of the
Guarantor except in favor of the Secured Parties. 
 (d) The Guarantor has the power and authority to enter into and perform
this Guaranty, and to incur the Obligations, and has taken all corporate action necessary to authorize the execution, delivery, and performance of this Guaranty. 

(e) This Guaranty when delivered will be, valid, binding, and enforceable in accordance with its terms. 

(f) The incurring or satisfaction of the Obligations has not left and will not leave the Guarantor insolvent, with an unreasonably small
capital, or unable to pay existing or future debts as they mature. 
 Section 6. Reporting Requirements. To the
extent not included in the financial statements and other information provided to the Secured Parties pursuant to Sections 6.02 of the Credit Agreement, the Guarantor shall furnish the following items to each of the Secured Parties: 

(a) As soon as available and in any event within forty-five (45) calendar days after the end of each of the first three fiscal
quarters of each fiscal year of the Guarantor, (i) its consolidated balance sheet and related statements of income, stockholders’ equity and cash flows as of the end of and for such fiscal quarter and the then elapsed

  

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portion of the fiscal year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the
previous fiscal year and (ii) unaudited financial information for each of the Guarantor’s business lines, all certified by the president or chief financial officer of the Guarantor as presenting fairly in all material respects the
financial condition and results of operations of the Guarantor on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes. 

(b) its audited consolidated balance sheet and related statements of income, stockholders’ equity and cash flows as of the end of
and for such year, setting forth in each case in comparative form the figures for the previous fiscal year, all reported on by KPMG LLP or other independent public accountants of recognized national standing (without a “going concern” or
like qualification or exception and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all material respects the financial condition and results of
operations of the Guarantor in accordance with GAAP consistently applied; and 
 (c) As soon as available and in any event
within ninety (90) days after the end of each fiscal year of the Guarantor: (i) its consolidating balance sheets and related statements of income and stockholders’ equity as of the end of and for such year, setting forth in each case
in comparative form the figures for the previous fiscal year and (ii) unaudited financial information for each of the Guarantor’s business lines, all certified by the president or chief financial officer of the Guarantor as presenting
fairly in all material respects the financial condition and results of operations of the Guarantor in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes. 

(d) General Information. In addition to the items set forth in subsections (a), (b), and (c) above, the Guarantor agrees to
submit to the Secured Parties, acting through the Agent, such other information respecting the condition or operations, financial or otherwise, of the Guarantor as the Secured Parties, acting through the Agent, may reasonably request from time to
time. 
 Section 7. Agent Need Not Pursue Other Rights. The Agent shall be under no obligation to pursue, on behalf
of any of the Secured Parties, any of the right and remedies of any of the Secured Parties against any Borrower or any of the collateral of any Borrower securing the obligations of the Borrower to any of the Secured Parties, or against any other
guarantor or any collateral of any other guarantor before pursuing, on behalf of the Secured Parties, any of the Agent’s rights and remedies against the Guarantor. 

Section 8. Certain Rights Of Agent. The Guarantor hereby assents to any and all terms and agreements between any of the
Secured Parties and the Borrower, or between any of the Secured Parties and any other guarantor, and all amendments and modifications thereof, whether presently existing or hereafter made and whether oral or in writing. Any of the Secured Parties
may, without compromising, impairing, diminishing, or in any way releasing the Guarantor from the Obligations and without notifying or obtaining the prior approval of the Guarantor, at any time or from time to time: (a) waive or excuse a
default by the Borrower or any other guarantor, or delay in the exercise by the Agent, on behalf of the Secured Parties, of any or all of the rights or remedies of the Agent or any of the Secured Parties with respect to such default or defaults;
(b) grant extensions of time for payment or performance by the Borrower or any other guarantor; (c) release, substitute, exchange, surrender, or add collateral of any Borrower or of any other guarantor, or waive, release, or subordinate,
in whole or in part, any lien or security interest held by the Agent, on behalf of any of the Secured Parties, on any real or personal property securing payment or performance, in whole or in part, of the obligations of the Borrower to the Agent on
behalf of any of the Secured Parties or of any other guarantor; (d) release the Borrower or any other guarantor; (e) apply payments made by the Borrower or by any other guarantor to any sums owed by the Borrower to any of the Secured
Parties, in any order or manner, or to any specific account or accounts, as the Agent may elect; and (f) modify, change, renew, extend, or amend in any respect the agreements of any of the Secured Parties with the Borrower or any other
guarantor, or any document, instrument, or writing embodying or reflecting the same, including without limitation modifications which increase the amount of the Obligations or extend the maturity of the Obligations. 

Section 9. Waivers By Guarantor. The Guarantor waives: (a) any and all notices whatsoever with respect to this Guaranty
or with respect to any of the obligations of the Borrower to any of the Secured Parties, including, but not limited to, notice of (i) the Agent’s acceptance hereof on behalf of the Secured Parties, or the Agent’s intention to act on
behalf of the Secured Parties, or the Agent’s action on behalf of the Secured Parties in reliance hereon, (ii) the 
  

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present existence or future incurring of any of the obligations of the Borrower to any of the Secured Parties or any terms or amounts thereof or any change therein, (iii) any default by the
Borrower or any surety, pledgor, grantor of security, guarantor or any person who has guarantied or secured in whole or in part the obligations of the Borrower to any of the Secured Parties, and (iv) the obtaining or release of any guaranty or
surety agreement, pledge, assignment, or other security for any of the obligations of the Borrower to any of the Secured Parties; (b) presentment and demand for payment of any sum due from the Borrower or any other guarantor and protest of
nonpayment; (c) demand for performance by the Borrower or any other guarantor; and (d) any and all defenses based on suretyship or impairment of collateral. 

Section 10. Unenforceability Of Obligations Of Borrower. This Guaranty shall be valid, binding, and enforceable even if the
obligations of the Borrower to any of the Secured Parties which are guaranteed hereby are now or hereafter become invalid or unenforceable for any reason. 

Section 11. No Conditions Precedent. This Guaranty shall be effective and enforceable immediately upon its execution. The
Guarantor acknowledges that no unsatisfied conditions precedent to the effectiveness and enforceability of this Guaranty exist as of the date of its execution and that the effectiveness and enforceability of this Guaranty are not in any way
conditioned or contingent upon any event, occurrence, or happening, or upon any condition existing or coming into existence either before or after the execution of this Guaranty. 

Section 12. No Duty To Disclose. None of the Secured Parties shall have any present or future duty or obligation to discover
or to disclose to the Guarantor any information, financial or otherwise, concerning any Borrower, any other guarantor, or any collateral securing either the obligations of any Borrower to any of the Secured Parties or of any other person who may
have guarantied in whole or in part the obligations of the Borrower to any of the Secured Parties. The Guarantor waives any right to claim or assert any such duty or obligation on the part of any of the Secured Parties. The Guarantor agrees to
obtain all information which the Guarantor considers either appropriate or relevant to this Guaranty from sources other than the Secured Parties and to become and remain at all times current and continuously apprised of all information concerning
the Borrower, other guarantors, and any collateral which is material and relevant to the obligations of the Guarantor under this Guaranty. 

Section 13. Existing Or Future Guaranties. The execution of this Guaranty shall not discharge, terminate or in any way impair
or adversely affect the validity or enforceability of any other guaranty given by the Guarantor to any of the Secured Parties. The execution and delivery by the Guarantor of any future guaranty for the benefit of the Agent on behalf of the Secured
Parties, or the Secured Parties, shall not discharge, terminate, or in any way impair or adversely affect the validity or enforceability of this Guaranty. All guaranties provided by the Guarantor to the Agent on behalf of the Secured Parties, or to
the Secured Parties, are intended to be cumulative and shall remain in full force and effect unless and until discharged and terminated in accordance with any expressly stated termination provisions set forth therein. 

Section 14. Cumulative Liability. The liability of the Guarantor under this Guaranty shall be cumulative to, and not in lieu
of, the Guarantor’s liability under any of the other Loan Documents or in any capacity other than as Guarantor hereunder. 

Section 15. Obligations Are Unconditional. The payment and performance of the Obligations shall be the absolute and
unconditional duty and obligation of the Guarantor, and shall be independent of any defense or any rights of setoff, recoupment or counterclaim which the Guarantor might otherwise have against any of the Secured Parties, and the Guarantor shall pay
and perform these Obligations, free of any deductions and without abatement, diminution or setoff. Until such time as the Obligations have been fully paid and performed, the Guarantor: (a) shall not suspend or discontinue any payments provided
for herein; (b) shall perform and observe all of the covenants and agreements contained in this Guaranty; and (c) shall not terminate or attempt to terminate this Guaranty for any reason. No delay by the Agent on behalf of the Secured
Parties, or by any of the Secured Parties, in making demand on the Guarantor for satisfaction of the Obligations shall prejudice or in any way impair the ability of the Agent or the Secured Parties to enforce this Guaranty. 

Section 16. Defenses Against Borrower. The Guarantor waives any right to assert against the Agent on behalf of the Secured
Parties, or any of the Secured Parties, any defense (whether legal or equitable), claim, counterclaim, 
  

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or right of setoff or recoupment which the Guarantor may now or hereafter have against the Borrower or any other guarantor. 

Section 17. Events Authorizing Acceleration Of The Obligations. The occurrence of any of the following (each an “Event
of Default”) shall entitle the Agent on behalf of the Secured Parties, and the Secured Parties, without notice or demand, to accelerate and call due the Obligations, even if the Agent on behalf of the Secured Parties has not accelerated and
called due the sums owed to the Agent on behalf of the Secured Parties by the Borrower, or even if any of the Secured Parties has not accelerated and called due the sums owed to it by the Borrower: (a) the occurrence of any “Event of
Default,” as such term is defined in the Credit Agreement; (b) the commencement by the Guarantor of a voluntary case or proceeding under any federal or state bankruptcy, insolvency or similar law; (c) the commencement of an
involuntary case or proceeding against the Guarantor under any federal or state bankruptcy, insolvency, or similar law, and either (i) such case or proceeding is not dismissed within sixty (60) calendar days after commencement, or
(ii) an order for relief is entered in such case; (d) the appointment of a receiver, assignee, custodian, trustee or similar official under any federal or state insolvency or creditors’ rights law for any property of the Guarantor;
(e) one or more judgments for the payment of money in an aggregate amount in excess of Three Million Dollars ($3,000,000.00) shall be rendered against the Guarantor, the Borrower, or any other Subsidiary Guarantor (or any combination thereof)
and the same shall remain undischarged for a period of thirty (30) consecutive days during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of the
Borrower, the Guarantor or any other Subsidiary Guarantor to enforce any such judgment; (f) a failure of the Guarantor to perform any covenant or agreement contained in this Guaranty or in any other agreement between the Guarantor and any of
the Secured Parties after expiration of any applicable cure period; (g) any representation or warranty made by the Guarantor to any of the Secured Parties in any report or financial statement furnished in connection with this Guaranty shall
prove to have been false or misleading in any material respect when made; (h) the liquidation or dissolution of the Guarantor; or (i) the failure of the Guarantor to satisfy any of the obligations of the Guarantor to any of the Secured
Parties with respect to any loan or extension of credit by any of the Secured Parties to the Guarantor, or under any other Guaranty given by the Guarantor to the Agent on behalf of the Secured Parties, or to the Secured Parties. 

Section 18. Enforcement During Bankruptcy. Enforcement of this Guaranty shall not be stayed or in any way delayed as a result
of the filing of a petition under the United States Bankruptcy Code, as amended, by or against the Borrower. Should the Agent on behalf of the Secured Parties, or the Secured Parties, be required to obtain an order of the United States
Bankruptcy Court to begin enforcement of this Guaranty after the filing of a petition under the United States Bankruptcy Code, as amended, by or against the Borrower, the Guarantor hereby consents to this relief and agrees to file or cause to
be filed all appropriate pleadings to evidence and effectuate such consent and to enable the Agent on behalf of the Secured Parties to obtain the relief requested. 

Section 19. Remedies Cumulative. All of the rights and remedies of the Agent on behalf of the Secured Parties, and of the
Secured Parties, shall be cumulative and any failure of the Agent on behalf of the Secured Parties, or of the Secured Parties, to exercise any right hereunder shall not be construed as a waiver of the right to exercise the same or any other right at
any time, and from time to time, thereafter. 
 Section 20. Continuing Guaranty. This Guaranty is a continuing
guaranty of all existing and future obligations of the Borrower to each of the Secured Parties and may not be terminated by the Guarantor until after the termination of the Loan Documents, in accordance with the provisions thereof, and the payment
(which payment shall not be subject to challenge or contest) in full of all of the Obligations and all of the Borrower’ obligations and liabilities to the Secured Parties under the Loan Documents. 

Section 21. Reinstatement. If at any time any payment, or portion thereof, made by, or for the account of, any Borrower or
the Guarantor on account of any of the obligations and liabilities under any of the Loan Documents is set aside by any court or trustee having jurisdiction as a voidable preference, or fraudulent conveyance or must otherwise be restored or returned
by the Agent on behalf of the Secured Parties, or the Secured Parties, to a Borrower or any other person or entity under any insolvency, bankruptcy or other federal and/or state laws or as a result of any dissolution, liquidation or reorganization
of any Borrower or any other person or entity, or for any other reason, the Guarantor hereby agrees that this Guaranty shall continue and remain in full force and effect or be reinstated, as the case may be, all as though such payment(s) had not
been made. 
  

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 Section 22. Rights Of Subrogation, Etc. In the event the Guarantor pays any sum
to or for the benefit of the Secured Parties pursuant to this Guaranty, the Guarantor may not enforce any right of contribution, indemnification, exoneration, reimbursement, subrogation or other right or remedy against any Borrower, any other
guarantor, or any collateral, whether real, personal, or mixed, securing the obligations of any Borrower to any of the Secured Parties, or the obligations of any other guarantor to the Agent on behalf of the Secured Parties, until such time as all
of the Secured Parties have been paid in full and have no further claim against the Borrower, any other guarantor, or any collateral. The Guarantor waives and releases any claim which the Guarantor hereafter may have against any of the Secured
Parties if any action of any of the Secured Parties, whether intentional or negligent, impairs, destroys, or in any way adversely affects any right of contribution, indemnification, exoneration, reimbursement, subrogation, or the like which the
Guarantor may have upon the payment of any sum to or for the benefit of any of the Secured Parties pursuant to this Guaranty. 

Section 23. Subordination Of Certain Indebtedness. If the Guarantor advances any sums to the Borrower or their successors or
assigns or if any Borrower or its successors or assigns shall hereafter become indebted to the Guarantor, such sums and indebtedness shall be subordinate in all respects to the amounts then or thereafter due and owing to the Secured Parties by such
Borrower. 
 Section 24. Setoff. Each of the Secured Parties (and their participants) shall have the right to setoff
and apply against the Obligations any sums which the Guarantor at any time has on deposit with any of the Secured Parties (or their participants) whether such deposits are general or special, time or demand, provisional or final, and the Guarantor
hereby pledges and grants a security interest in all such deposits to the Agent for the benefit of the Secured Parties. 

Section 25. Renewals, Etc. This Guaranty shall apply to all sums now or hereafter owed by the Borrower to any of the Secured
Parties and to all extensions, modifications, amendments, renewals, substitutions, and refinancings thereof. 
 Section 26.
Choice Of Law. The laws of the State of New York (“Governing State”) (excluding, however, conflict of law principles) shall govern and be applied to determine all issues relating to this Guaranty and the rights and obligations of
the parties hereto, including the validity, construction, interpretation, and enforceability of this Guaranty and its various provisions and the consequences and legal effect of all transactions and events which resulted in the issuance of this
Guaranty or which occurred or were to occur as a direct or indirect result of this Guaranty having been executed. 

Section 27. Consent To Jurisdiction; Agreement As To Venue; Service of Process. The Guarantor irrevocably consents to the
non-exclusive jurisdiction of the courts of the Governing State and any United States District Court located in the Governing State, if a basis for federal jurisdiction exists. The Guarantor agrees that venue shall be proper in any State court
located in the Governing State selected by the Agent on behalf of the Secured Parties or in any United States District Court located in the Governing State if a basis for federal jurisdiction exists and waives any right to object to the maintenance
of a suit in any of the state or federal courts of the Governing State on the basis of improper venue or of inconvenience of forum. The Guarantor irrevocably, consents to service of process in the manner provided for notices in Section 32 of
this Guaranty. Nothing in this Guaranty will affect the right of the Agent or any other Secured Party to serve process in any other manner permitted by law. 

Section 28. Proofs Of Sums Due On Guaranty. In any action or proceeding brought by the Agent on behalf of the Secured Parties
to collect the sums owed on this Guaranty, a certificate signed by an officer of the Agent setting forth the unpaid balances of principal, and any accrued interest, default interest, attorneys’ fees, and late charges owed with respect hereto
shall be presumed correct and shall be admissible in evidence for the purpose of establishing the truth of what it asserts. If the Guarantor wishes to contest the accuracy of the figure set forth in any such certificate, the Guarantor shall have the
burden of proving by clear and convincing evidence that the certificate is inaccurate or incorrect. 
 Section 29.
Actions Against Secured Parties. Any action brought by the Guarantor against any of the Secured Parties which is based, directly or indirectly, on this Guaranty or any matter in or related to this Guaranty, including but not limited to the
obligations of the Borrower to any of the Secured Parties, the administration, collection, or enforcement thereof, shall be brought only in the courts of the Governing State. The Guarantor agrees that any forum

  

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other than the Governing State is an inconvenient forum and that a suit brought by the Guarantor against any of the Secured Parties in a court of any state other than the Governing State should
be forthwith dismissed or transferred to a court located in the Governing State by that court. 
 Section 30. Invalidity
Of Any Part. If any provision or part of any provision of this Guaranty shall for any reason be held invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provisions or the
remaining part of any effective provisions of this Guaranty, and this Guaranty shall be construed as if such invalid, illegal, or unenforceable provision or part thereof had never been contained herein, but only to the extent of its invalidity,
illegality, or unenforceability. 
 Section 31. Amendment Or Waiver. This Guaranty may be amended only by a writing
duly executed by the Guarantor and the Agent on behalf of the Secured Parties. No waiver by the Agent on behalf of the Secured Parties, or by the Secured Parties, of any of the provisions of this Guaranty or any of the rights or remedies of the
Agent on behalf of the Secured Parties, or of the Secured Parties, with respect hereto shall be considered effective or enforceable unless in writing. 

Section 32. Notices. Any notice required or permitted by or in connection with this Guaranty shall be in writing and shall be
made by hand delivery, or other overnight courier service, mailed by certified or registered mail, or sent by telephone as follows: 

If to the Agent (with a copy to each of the other Secured Parties): 

MANUFACTURERS AND TRADERS TRUST COMPANY 

303 South Broadway, Suite 130 

Tarrytown, NY 10591 

Attn: Chris Tesla, CFA, CPA 

Telecopy No.: (914) 366-8523 

And to: 

MANUFACTURERS AND TRADERS TRUST COMPANY 

25 S. Charles Street,
12th Floor 

Baltimore, MD 21201 

Attn: Robert H. Hauver 

Telecopy No.: (410) 545-2079 

If to the Guarantor: 

LECROY LIGHTSPEED CORPORATION 

700 Chestnut Ridge Road 

Chestnut Ridge, NY 10977 

Attn: Sean O’Connor 

Telecopy No.: (845) 578-8967 

With A Courtesy Copy To: 

Fish & Richardson, P.C. 

225 Franklin Street 

Boston, MA 02110 

Attention: Roger D. Feldman, Esq. 

Telecopy No.: (617) 542-8906 

Any party hereto may change its address or telecopy number for notices and other communications hereunder by notice to the other parties hereto. All
notices and other communications under this Guaranty given to any Guarantor, Agent or 
  

 7 

 
other Secured Party in accordance with the provisions of this Guaranty shall be deemed to have been given on the date of receipt. The failure of the Agent or any other Secured Party to send the
above-noted courtesy copy shall not impair the effectiveness of notice given to the Guarantor in the manner provided herein. 

Section 33. Binding Nature. This Guaranty shall inure to the benefit of and be enforceable by the Agent on behalf of the
Secured Parties and by the Agent’s successors and assigns and shall be binding upon and enforceable against the Guarantor and the Guarantor’s successors, and assigns. 

Section 34. Joint And Several Nature. The liability of the Guarantor shall be joint and several with the liability of any
other guarantor not a party to this Guaranty. 
 Section 35. Assignability. This Guaranty or an interest therein may
be assigned by the Agent on behalf of the Secured Parties, or by any of the Secured Parties, in accordance with the Credit Agreement, or by any other holder at any time or from time to time, without any prior notice to or consent from the Guarantor.

 Section 36. Final Agreement. This Guaranty contains the final and entire agreement between the parties with
respect to the guaranty by the Guarantor of the Borrower’ obligations to the Secured Parties. There are no separate oral or written understandings between any of the Secured Parties and the Guarantor with respect thereto. 

Section 37. Tense, Gender, Captions. As used herein, the plural includes the singular, and the singular includes the plural.
The use of any gender applies to any other gender. If more than one person has executed this Guaranty, the term “Guarantor” means all such persons collectively or any one or more of such persons individually or collectively, as the case
may be and as the context may require. All captions are for the purpose of convenience only. 
 Section 38. Seal And
Effective Date. This Guaranty is an instrument executed under seal and is to be considered effective and enforceable as of the date set forth on the first page hereof, independent of the date of actual execution. 

Section 39. Waiver Of Trial By Jury. The Guarantor and the Secured Parties, by their execution and acceptance, respectively,
of this Guaranty, agree that any suit, action, or proceeding, whether claim or counterclaim, brought or instituted by any party hereto or any successor or assign of any party on or with respect to this Guaranty or which in any way relates, directly
or indirectly, to this Guaranty or any event, transaction, or occurrence arising out of or in any way connected with this Guaranty, or the dealings of the parties with respect thereto, shall be tried only by a court and not by a jury. EACH PARTY
HEREBY EXPRESSLY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY SUCH SUIT, ACTION, OR PROCEEDING. EACH PARTY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT, OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE
SECURED PARTIES WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT THE SECURED PARTIES HERETO HAVE BEEN INDUCED TO ACCEPT THIS GUARANTY BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
CERTIFICATIONS IN THIS SECTION. 
 [SIGNATURES BEGIN ON THE FOLLOWING PAGE] 

Signature Page To Guaranty Agreement: 

IN WITNESS WHEREOF, the Guarantor has duly executed this Guaranty under seal as of the date first written above. 

 

													
	WITNESS/ATTEST:	 		 		 	Guarantor:
				
		 		 		 	 LECROY LIGHTSPEED CORPORATION,

A Delaware Corporation

 

 8 

													
						
	  
	 		 		 	By:	 	 /s/ Sean B. O’Connor
	 	(SEAL)
		 		 		 		 	Name:	 	Sean B. O’Connor
		 		 		 		 	Title:	 	Vice President, Finance, Chief Financial Officer, Secretary and Treasurer

 

 9 

 GUARANTY AGREEMENT 

THIS GUARANTY AGREEMENT (“Guaranty”) is made to be effective as of July 29, 2010, by CATALYST ENTERPRISES, INC., a
California corporation (“Guarantor”), to MANUFACTURERS AND TRADERS TRUST COMPANY, a New York banking corporation, individually, and in its capacity as “Agent” (in such capacity, “Agent”), acting for and on behalf of
those persons who are now or who hereafter become a “Lender,” “Swingline Lender,” and “Issuing Lender” (as such terms are defined in the Credit Agreement (as hereinafter defined), including the Agent in its capacity as
a Lender, Swingline Lender and Issuing Lender), under the Amended and Restated Credit Agreement dated to be effective as of even date herewith (as the same may be amended, modified, extended, renewed, restated, supplemented or replaced, “Credit
Agreement”), and to each of the Lenders, Swingline Lender and the Issuing Lender, with respect to the obligations of LECROY CORPORATION, a Delaware corporation (“Borrower”). Capitalized terms which are not otherwise defined in this
Guaranty shall have the meanings set forth in the Credit Agreement. 
 RECITALS 

The Borrower has requested certain credit accommodations from the Lenders, the Swingline Lender, and the Issuing Lender. The Lenders, the
Swingline Lender, and the Issuing Lender have agreed to provide the requested credit accommodations to the Borrower, but only if the Guarantor provides to the Agent, the Lenders, the Swingline Lender, and the Issuing Lender (collectively,
“Secured Parties”) the guaranties of payment and performance set forth in this Guaranty. The Guarantor is willing to provide this Guaranty to the Secured Parties in order to induce the Lenders, the Swingline Lender, and the Issuing Lender
to provide the requested credit accommodations to the Borrower. 
 NOW, THEREFORE, in consideration of these premises and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Guarantor hereby agrees to provide to the Secured Parties the following guaranties and indemnifications. 

Section 1. Guaranty. The Guarantor guarantees to the Agent for the benefit of the Secured Parties and to the Secured Parties:
(a) the payment of any and all sums now or hereafter due and owing to the any of the Secured Parties by the Borrower as a result of or in connection with any and all existing or future indebtedness, liability, or obligation of every kind,
nature, type, and variety owed by the Borrower to any of the Secured Parties from time to time, arising out of or related to any credit accommodation, loan, letter of credit, guaranty, depository relationship, transaction, event, or occurrence,
whether direct or indirect, absolute or contingent, primary or secondary, joint or several, unconditional or conditional, known or unknown, liquidated or unliquidated, contractual or tortious, including all renewals, refinancings, extensions,
substitutions, amendments, and modifications thereof, no matter when or how created, arising, evidenced, or acquired, and whether or not presently contemplated or anticipated, including, but not limited to, all amounts of principal, interest,
charges, reimbursements, advancements, escrows, and fees; (b) that all sums now or hereafter due and owing by the Borrower to any of the Secured Parties shall be paid when and as due, whether by reason of installment, maturity, acceleration or
otherwise, time being of the essence; and (c) the timely, complete, continuous, and strict performance and observance by the Borrower of each of the terms, covenants, agreements and conditions contained in any and all existing or future
documents, instruments, agreements, and writings of every kind, nature, type, and variety which evidence, reflect, embody, give rise to or secure any and all existing and future indebtedness, liabilities, and obligations of any kind of the Borrower
to any of the Secured Parties under the Credit Agreement or any other document executed in connection with or related to the Credit Agreement (collectively, “Loan Documents”). As used in this Guaranty, the term “Obligations”
shall refer to the obligations of payment, performance, and indemnification which the Guarantor has undertaken and assumed pursuant to this Guaranty, both as described in this Section and in other Sections of this Guaranty. This Guaranty shall be
administered and enforced by the Agent on behalf and for the ratable and proportionate benefit of the Secured Parties in accordance with the Credit Agreement. 

Section 2. Nature Of Guaranty. This Guaranty: (a) is (i) irrevocable, (ii) absolute and unconditional,
(iii) direct, immediate, and primary, and (iv) one of payment and not just collection; and (b) makes the Guarantor a surety to the Agent for the benefit of the Secured Parties, and to each of the Secured Parties, with respect to the
Obligations and the equivalent of a co-obligor with the Borrower. Without limiting the foregoing, it is specifically understood that any modification, limitation or discharge of any of the liabilities or obligations of the Borrower, any other
guarantor or any other obligor under any of the Loan Documents, arising out of, or by virtue of, any bankruptcy, arrangement, 

 
reorganization or similar proceeding for relief of debtors under federal or state law initiated by or against the Borrower, any other guarantor or any obligor under any of the Loan Documents
shall not modify, limit, lessen, reduce, impair, discharge, or otherwise affect the liability of the Guarantor hereunder in any manner whatsoever, and this Guaranty shall remain and continue in full force and effect. 

Section 3. Security Interests. The obligations of the Guarantor hereunder are secured by the collateral and in accordance
with the terms set forth and described in the Credit Agreement and the other Loan Documents. 
 Section 4. Accuracy Of
Representations. The Guarantor guaranties that all representations and warranties made by the Borrower or by the Guarantor to any of the Secured Parties prior to or after the date of this Guaranty are and will continue to be true, correct,
accurate, and complete and not knowingly misleading, and the Guarantor agrees to indemnify and hold each of the Secured Parties harmless from any loss, cost, or expense which any of the Secured Parties may suffer, sustain or incur as a result of any
representation or statement of the Borrower or of the Guarantor being materially false, incorrect, inaccurate, incomplete, or knowingly misleading. 

Section 5. Representations Of Guarantor. To induce the Secured Parties to accept this Guaranty for the purposes for which it
is given, the Guarantor represents and warrants to the Secured Parties as follows: 
 (a) The Guarantor is a corporation duly
organized, validly existing and in good standing under the laws of the jurisdiction of its organization. The Guarantor has the lawful power to own its properties and to engage in the business it conducts, and, except where the failure to do so,
individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, is duly qualified and in good standing as a foreign corporation in every jurisdiction where such qualification is required. 

(b) Any financial statements submitted by the Guarantor to the Secured Parties, including any schedules and notes pertaining thereto,
have been prepared in accordance with GAAP, and fully and fairly present the financial condition of the Guarantor at the dates thereof and the results of operations for the periods covered thereby, and there has been no material adverse change in
the financial condition or business of the Guarantor from the dates thereof to the date hereof, other than as disclosed to the Secured Parties. 

(c) The Guarantor is not in default with respect to any of its existing indebtedness, and the making and performance of this Guaranty
will not (immediately, with the passage of time, the giving of notices, or both), (i) violate the organizational documents of the Guarantor, (ii) violate any applicable law or regulation, (iii) result in a default under any contract,
agreement, or instrument to which the Guarantor is a party or by which the Guarantor or its property is bound, or (iv) result in the creation or imposition of any security interest in, or lien or encumbrance upon, any of the assets of the
Guarantor except in favor of the Secured Parties. 
 (d) The Guarantor has the power and authority to enter into and perform
this Guaranty, and to incur the Obligations, and has taken all corporate action necessary to authorize the execution, delivery, and performance of this Guaranty. 

(e) This Guaranty when delivered will be, valid, binding, and enforceable in accordance with its terms. 

(f) The incurring or satisfaction of the Obligations has not left and will not leave the Guarantor insolvent, with an unreasonably small
capital, or unable to pay existing or future debts as they mature. 
 Section 6. Reporting Requirements. To the
extent not included in the financial statements and other information provided to the Secured Parties pursuant to Sections 6.02 of the Credit Agreement, the Guarantor shall furnish the following items to each of the Secured Parties: 

(a) As soon as available and in any event within forty-five (45) calendar days after the end of each of the first three fiscal
quarters of each fiscal year of the Guarantor, (i) its consolidated balance sheet and related statements of income, stockholders’ equity and cash flows as of the end of and for such fiscal quarter and the then elapsed portion of the fiscal
year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year and (ii) unaudited financial

 
information for each of the Guarantor’s business lines, all certified by the president or chief financial officer of the Guarantor as presenting fairly in all material respects the financial
condition and results of operations of the Guarantor on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes. 

(b) its audited consolidated balance sheet and related statements of income, stockholders’ equity and cash flows as of the end of
and for such year, setting forth in each case in comparative form the figures for the previous fiscal year, all reported on by KPMG LLP or other independent public accountants of recognized national standing (without a “going concern” or
like qualification or exception and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all material respects the financial condition and results of
operations of the Guarantor in accordance with GAAP consistently applied; and 
 (c) As soon as available and in any event
within ninety (90) days after the end of each fiscal year of the Guarantor: (i) its consolidating balance sheets and related statements of income and stockholders’ equity as of the end of and for such year, setting forth in each case
in comparative form the figures for the previous fiscal year and (ii) unaudited financial information for each of the Guarantor’s business lines, all certified by the president or chief financial officer of the Guarantor as presenting
fairly in all material respects the financial condition and results of operations of the Guarantor in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes. 

(d) General Information. In addition to the items set forth in subsections (a), (b), and (c) above, the Guarantor agrees to
submit to the Secured Parties, acting through the Agent, such other information respecting the condition or operations, financial or otherwise, of the Guarantor as the Secured Parties, acting through the Agent, may reasonably request from time to
time. 
 Section 7. Agent Need Not Pursue Other Rights. The Agent shall be under no obligation to pursue, on behalf
of any of the Secured Parties, any of the right and remedies of any of the Secured Parties against any Borrower or any of the collateral of any Borrower securing the obligations of the Borrower to any of the Secured Parties, or against any other
guarantor or any collateral of any other guarantor before pursuing, on behalf of the Secured Parties, any of the Agent’s rights and remedies against the Guarantor. 

Section 8. Certain Rights Of Agent. The Guarantor hereby assents to any and all terms and agreements between any of the
Secured Parties and the Borrower, or between any of the Secured Parties and any other guarantor, and all amendments and modifications thereof, whether presently existing or hereafter made and whether oral or in writing. Any of the Secured Parties
may, without compromising, impairing, diminishing, or in any way releasing the Guarantor from the Obligations and without notifying or obtaining the prior approval of the Guarantor, at any time or from time to time: (a) waive or excuse a
default by the Borrower or any other guarantor, or delay in the exercise by the Agent, on behalf of the Secured Parties, of any or all of the rights or remedies of the Agent or any of the Secured Parties with respect to such default or defaults;
(b) grant extensions of time for payment or performance by the Borrower or any other guarantor; (c) release, substitute, exchange, surrender, or add collateral of any Borrower or of any other guarantor, or waive, release, or subordinate,
in whole or in part, any lien or security interest held by the Agent, on behalf of any of the Secured Parties, on any real or personal property securing payment or performance, in whole or in part, of the obligations of the Borrower to the Agent on
behalf of any of the Secured Parties or of any other guarantor; (d) release the Borrower or any other guarantor; (e) apply payments made by the Borrower or by any other guarantor to any sums owed by the Borrower to any of the Secured
Parties, in any order or manner, or to any specific account or accounts, as the Agent may elect; and (f) modify, change, renew, extend, or amend in any respect the agreements of any of the Secured Parties with the Borrower or any other
guarantor, or any document, instrument, or writing embodying or reflecting the same, including without limitation modifications which increase the amount of the Obligations or extend the maturity of the Obligations. 

Section 9. Waivers By Guarantor. The Guarantor waives: (a) any and all notices whatsoever with respect to this Guaranty
or with respect to any of the obligations of the Borrower to any of the Secured Parties, including, but not limited to, notice of (i) the Agent’s acceptance hereof on behalf of the Secured Parties, or the Agent’s intention to act on
behalf of the Secured Parties, or the Agent’s action on behalf of the Secured Parties in reliance hereon, (ii) the present existence or future incurring of any of the obligations of the Borrower to any of the Secured Parties or any terms
or amounts thereof or any change therein, (iii) any default by the Borrower or any surety, pledgor, grantor of security, guarantor or any person who has guarantied or secured in whole or in part the obligations of the Borrower to any of the

 
Secured Parties, and (iv) the obtaining or release of any guaranty or surety agreement, pledge, assignment, or other security for any of the obligations of the Borrower to any of the Secured
Parties; (b) presentment and demand for payment of any sum due from the Borrower or any other guarantor and protest of nonpayment; (c) demand for performance by the Borrower or any other guarantor; and (d) any and all defenses based
on suretyship or impairment of collateral. 
 Section 10. Unenforceability Of Obligations Of Borrower. This Guaranty
shall be valid, binding, and enforceable even if the obligations of the Borrower to any of the Secured Parties which are guaranteed hereby are now or hereafter become invalid or unenforceable for any reason. 

Section 11. No Conditions Precedent. This Guaranty shall be effective and enforceable immediately upon its execution. The
Guarantor acknowledges that no unsatisfied conditions precedent to the effectiveness and enforceability of this Guaranty exist as of the date of its execution and that the effectiveness and enforceability of this Guaranty are not in any way
conditioned or contingent upon any event, occurrence, or happening, or upon any condition existing or coming into existence either before or after the execution of this Guaranty. 

Section 12. No Duty To Disclose. None of the Secured Parties shall have any present or future duty or obligation to discover
or to disclose to the Guarantor any information, financial or otherwise, concerning any Borrower, any other guarantor, or any collateral securing either the obligations of any Borrower to any of the Secured Parties or of any other person who may
have guarantied in whole or in part the obligations of the Borrower to any of the Secured Parties. The Guarantor waives any right to claim or assert any such duty or obligation on the part of any of the Secured Parties. The Guarantor agrees to
obtain all information which the Guarantor considers either appropriate or relevant to this Guaranty from sources other than the Secured Parties and to become and remain at all times current and continuously apprised of all information concerning
the Borrower, other guarantors, and any collateral which is material and relevant to the obligations of the Guarantor under this Guaranty. 

Section 13. Existing Or Future Guaranties. The execution of this Guaranty shall not discharge, terminate or in any way impair
or adversely affect the validity or enforceability of any other guaranty given by the Guarantor to any of the Secured Parties. The execution and delivery by the Guarantor of any future guaranty for the benefit of the Agent on behalf of the Secured
Parties, or the Secured Parties, shall not discharge, terminate, or in any way impair or adversely affect the validity or enforceability of this Guaranty. All guaranties provided by the Guarantor to the Agent on behalf of the Secured Parties, or to
the Secured Parties, are intended to be cumulative and shall remain in full force and effect unless and until discharged and terminated in accordance with any expressly stated termination provisions set forth therein. 

Section 14. Cumulative Liability. The liability of the Guarantor under this Guaranty shall be cumulative to, and not in lieu
of, the Guarantor’s liability under any of the other Loan Documents or in any capacity other than as Guarantor hereunder. 

Section 15. Obligations Are Unconditional. The payment and performance of the Obligations shall be the absolute and
unconditional duty and obligation of the Guarantor, and shall be independent of any defense or any rights of setoff, recoupment or counterclaim which the Guarantor might otherwise have against any of the Secured Parties, and the Guarantor shall pay
and perform these Obligations, free of any deductions and without abatement, diminution or setoff. Until such time as the Obligations have been fully paid and performed, the Guarantor: (a) shall not suspend or discontinue any payments provided
for herein; (b) shall perform and observe all of the covenants and agreements contained in this Guaranty; and (c) shall not terminate or attempt to terminate this Guaranty for any reason. No delay by the Agent on behalf of the Secured
Parties, or by any of the Secured Parties, in making demand on the Guarantor for satisfaction of the Obligations shall prejudice or in any way impair the ability of the Agent or the Secured Parties to enforce this Guaranty. 

Section 16. Defenses Against Borrower. The Guarantor waives any right to assert against the Agent on behalf of the Secured
Parties, or any of the Secured Parties, any defense (whether legal or equitable), claim, counterclaim, or right of setoff or recoupment which the Guarantor may now or hereafter have against the Borrower or any other guarantor. 

 Section 17. Events Authorizing Acceleration Of The Obligations. The occurrence
of any of the following (each an “Event of Default”) shall entitle the Agent on behalf of the Secured Parties, and the Secured Parties, without notice or demand, to accelerate and call due the Obligations, even if the Agent on behalf of
the Secured Parties has not accelerated and called due the sums owed to the Agent on behalf of the Secured Parties by the Borrower, or even if any of the Secured Parties has not accelerated and called due the sums owed to it by the Borrower:
(a) the occurrence of any “Event of Default,” as such term is defined in the Credit Agreement; (b) the commencement by the Guarantor of a voluntary case or proceeding under any federal or state bankruptcy, insolvency or similar
law; (c) the commencement of an involuntary case or proceeding against the Guarantor under any federal or state bankruptcy, insolvency, or similar law, and either (i) such case or proceeding is not dismissed within sixty (60) calendar
days after commencement, or (ii) an order for relief is entered in such case; (d) the appointment of a receiver, assignee, custodian, trustee or similar official under any federal or state insolvency or creditors’ rights law for any
property of the Guarantor; (e) one or more judgments for the payment of money in an aggregate amount in excess of Three Million Dollars ($3,000,000.00) shall be rendered against the Guarantor, the Borrower, or any other Subsidiary Guarantor (or
any combination thereof) and the same shall remain undischarged for a period of thirty (30) consecutive days during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy
upon any assets of the Borrower, the Guarantor or any other Subsidiary Guarantor to enforce any such judgment; (f) a failure of the Guarantor to perform any covenant or agreement contained in this Guaranty or in any other agreement between the
Guarantor and any of the Secured Parties after expiration of any applicable cure period; (g) any representation or warranty made by the Guarantor to any of the Secured Parties in any report or financial statement furnished in connection with
this Guaranty shall prove to have been false or misleading in any material respect when made; (h) the liquidation or dissolution of the Guarantor; or (i) the failure of the Guarantor to satisfy any of the obligations of the Guarantor to
any of the Secured Parties with respect to any loan or extension of credit by any of the Secured Parties to the Guarantor, or under any other Guaranty given by the Guarantor to the Agent on behalf of the Secured Parties, or to the Secured Parties.

 Section 18. Enforcement During Bankruptcy. Enforcement of this Guaranty shall not be stayed or in any way delayed
as a result of the filing of a petition under the United States Bankruptcy Code, as amended, by or against the Borrower. Should the Agent on behalf of the Secured Parties, or the Secured Parties, be required to obtain an order of the United
States Bankruptcy Court to begin enforcement of this Guaranty after the filing of a petition under the United States Bankruptcy Code, as amended, by or against the Borrower, the Guarantor hereby consents to this relief and agrees to file or
cause to be filed all appropriate pleadings to evidence and effectuate such consent and to enable the Agent on behalf of the Secured Parties to obtain the relief requested. 

Section 19. Remedies Cumulative. All of the rights and remedies of the Agent on behalf of the Secured Parties, and of the
Secured Parties, shall be cumulative and any failure of the Agent on behalf of the Secured Parties, or of the Secured Parties, to exercise any right hereunder shall not be construed as a waiver of the right to exercise the same or any other right at
any time, and from time to time, thereafter. 
 Section 20. Continuing Guaranty. This Guaranty is a continuing
guaranty of all existing and future obligations of the Borrower to each of the Secured Parties and may not be terminated by the Guarantor until after the termination of the Loan Documents, in accordance with the provisions thereof, and the payment
(which payment shall not be subject to challenge or contest) in full of all of the Obligations and all of the Borrower’ obligations and liabilities to the Secured Parties under the Loan Documents. 

Section 21. Reinstatement. If at any time any payment, or portion thereof, made by, or for the account of, any Borrower or
the Guarantor on account of any of the obligations and liabilities under any of the Loan Documents is set aside by any court or trustee having jurisdiction as a voidable preference, or fraudulent conveyance or must otherwise be restored or returned
by the Agent on behalf of the Secured Parties, or the Secured Parties, to a Borrower or any other person or entity under any insolvency, bankruptcy or other federal and/or state laws or as a result of any dissolution, liquidation or reorganization
of any Borrower or any other person or entity, or for any other reason, the Guarantor hereby agrees that this Guaranty shall continue and remain in full force and effect or be reinstated, as the case may be, all as though such payment(s) had not
been made. 
 Section 22. Rights Of Subrogation, Etc. In the event the Guarantor pays any sum to or for the benefit
of the Secured Parties pursuant to this Guaranty, the Guarantor may not enforce any right of contribution, indemnification, exoneration, reimbursement, subrogation or other right or remedy against any Borrower, any other guarantor, or any
collateral, whether real, personal, or mixed, securing the obligations of any Borrower to any of the Secured Parties, or the 

 
obligations of any other guarantor to the Agent on behalf of the Secured Parties, until such time as all of the Secured Parties have been paid in full and have no further claim against the
Borrower, any other guarantor, or any collateral. The Guarantor waives and releases any claim which the Guarantor hereafter may have against any of the Secured Parties if any action of any of the Secured Parties, whether intentional or negligent,
impairs, destroys, or in any way adversely affects any right of contribution, indemnification, exoneration, reimbursement, subrogation, or the like which the Guarantor may have upon the payment of any sum to or for the benefit of any of the Secured
Parties pursuant to this Guaranty. 
 Section 23. Subordination Of Certain Indebtedness. If the Guarantor advances
any sums to the Borrower or their successors or assigns or if any Borrower or its successors or assigns shall hereafter become indebted to the Guarantor, such sums and indebtedness shall be subordinate in all respects to the amounts then or
thereafter due and owing to the Secured Parties by such Borrower. 
 Section 24. Setoff. Each of the Secured Parties
(and their participants) shall have the right to setoff and apply against the Obligations any sums which the Guarantor at any time has on deposit with any of the Secured Parties (or their participants) whether such deposits are general or special,
time or demand, provisional or final, and the Guarantor hereby pledges and grants a security interest in all such deposits to the Agent for the benefit of the Secured Parties. 

Section 25. Renewals, Etc. This Guaranty shall apply to all sums now or hereafter owed by the Borrower to any of the Secured
Parties and to all extensions, modifications, amendments, renewals, substitutions, and refinancings thereof. 
 Section 26.
Choice Of Law. The laws of the State of New York (“Governing State”) (excluding, however, conflict of law principles) shall govern and be applied to determine all issues relating to this Guaranty and the rights and obligations of
the parties hereto, including the validity, construction, interpretation, and enforceability of this Guaranty and its various provisions and the consequences and legal effect of all transactions and events which resulted in the issuance of this
Guaranty or which occurred or were to occur as a direct or indirect result of this Guaranty having been executed. 

Section 27. Consent To Jurisdiction; Agreement As To Venue; Service of Process. The Guarantor irrevocably consents to the
non-exclusive jurisdiction of the courts of the Governing State and any United States District Court located in the Governing State, if a basis for federal jurisdiction exists. The Guarantor agrees that venue shall be proper in any State court
located in the Governing State selected by the Agent on behalf of the Secured Parties or in any United States District Court located in the Governing State if a basis for federal jurisdiction exists and waives any right to object to the maintenance
of a suit in any of the state or federal courts of the Governing State on the basis of improper venue or of inconvenience of forum. The Guarantor irrevocably, consents to service of process in the manner provided for notices in Section 32 of
this Guaranty. Nothing in this Guaranty will affect the right of the Agent or any other Secured Party to serve process in any other manner permitted by law. 

Section 28. Proofs Of Sums Due On Guaranty. In any action or proceeding brought by the Agent on behalf of the Secured Parties
to collect the sums owed on this Guaranty, a certificate signed by an officer of the Agent setting forth the unpaid balances of principal, and any accrued interest, default interest, attorneys’ fees, and late charges owed with respect hereto
shall be presumed correct and shall be admissible in evidence for the purpose of establishing the truth of what it asserts. If the Guarantor wishes to contest the accuracy of the figure set forth in any such certificate, the Guarantor shall have the
burden of proving by clear and convincing evidence that the certificate is inaccurate or incorrect. 
 Section 29.
Actions Against Secured Parties. Any action brought by the Guarantor against any of the Secured Parties which is based, directly or indirectly, on this Guaranty or any matter in or related to this Guaranty, including but not limited to the
obligations of the Borrower to any of the Secured Parties, the administration, collection, or enforcement thereof, shall be brought only in the courts of the Governing State. The Guarantor agrees that any forum other than the Governing State is an
inconvenient forum and that a suit brought by the Guarantor against any of the Secured Parties in a court of any state other than the Governing State should be forthwith dismissed or transferred to a court located in the Governing State by that
court. 

 Section 30. Invalidity Of Any Part. If any provision or part of any provision of
this Guaranty shall for any reason be held invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provisions or the remaining part of any effective provisions of this Guaranty,
and this Guaranty shall be construed as if such invalid, illegal, or unenforceable provision or part thereof had never been contained herein, but only to the extent of its invalidity, illegality, or unenforceability. 

Section 31. Amendment Or Waiver. This Guaranty may be amended only by a writing duly executed by the Guarantor and the Agent
on behalf of the Secured Parties. No waiver by the Agent on behalf of the Secured Parties, or by the Secured Parties, of any of the provisions of this Guaranty or any of the rights or remedies of the Agent on behalf of the Secured Parties, or of the
Secured Parties, with respect hereto shall be considered effective or enforceable unless in writing. 
 Section 32.
Notices. Any notice required or permitted by or in connection with this Guaranty shall be in writing and shall be made by hand delivery, or other overnight courier service, mailed by certified or registered mail, or sent by telephone as
follows: 
 If to the Agent (with a copy to each of the other Secured Parties): 

MANUFACTURERS AND TRADERS TRUST COMPANY 

303 South Broadway, Suite 130 

Tarrytown, NY 10591 

Attn: Chris Tesla, CFA, CPA 

Telecopy No.: (914) 366-8523 

And to: 

MANUFACTURERS AND TRADERS TRUST COMPANY 

25 S. Charles Street,
12th Floor 

Baltimore, MD 21201 

Attn: Robert H. Hauver 

Telecopy No.: (410) 545-2079 

If to the Guarantor: 

CATALYST ENTERPRISES, INC. 

700 Chestnut Ridge Road 

Chestnut Ridge, NY 10977 

Attn: Sean O’Connor 

Telecopy No.: (845) 578-8967 

With A Courtesy Copy To: 

Fish & Richardson, P.C. 

225 Franklin Street 

Boston, MA 02110 

Attention: Roger D. Feldman, Esq. 

Telecopy No.: (617) 542-8906 

Any party hereto may change its address or telecopy number for notices and other communications hereunder by notice to the other parties hereto. All
notices and other communications under this Guaranty given to any Guarantor, Agent or other Secured Party in accordance with the provisions of this Guaranty shall be deemed to have been given on the date of receipt. The failure of the Agent or any
other Secured Party to send the above-noted courtesy copy shall not impair the effectiveness of notice given to the Guarantor in the manner provided herein. 

 Section 33. Binding Nature. This Guaranty shall inure to the benefit of and be
enforceable by the Agent on behalf of the Secured Parties and by the Agent’s successors and assigns and shall be binding upon and enforceable against the Guarantor and the Guarantor’s successors, and assigns. 

Section 34. Joint And Several Nature. The liability of the Guarantor shall be joint and several with the liability of any
other guarantor not a party to this Guaranty. 
 Section 35. Assignability. This Guaranty or an interest therein may
be assigned by the Agent on behalf of the Secured Parties, or by any of the Secured Parties, in accordance with the Credit Agreement, or by any other holder at any time or from time to time, without any prior notice to or consent from the Guarantor.

 Section 36. Final Agreement. This Guaranty contains the final and entire agreement between the parties with
respect to the guaranty by the Guarantor of the Borrower’ obligations to the Secured Parties. There are no separate oral or written understandings between any of the Secured Parties and the Guarantor with respect thereto. 

Section 37. Tense, Gender, Captions. As used herein, the plural includes the singular, and the singular includes the plural.
The use of any gender applies to any other gender. If more than one person has executed this Guaranty, the term “Guarantor” means all such persons collectively or any one or more of such persons individually or collectively, as the case
may be and as the context may require. All captions are for the purpose of convenience only. 
 Section 38. Seal And
Effective Date. This Guaranty is an instrument executed under seal and is to be considered effective and enforceable as of the date set forth on the first page hereof, independent of the date of actual execution. 

Section 39. Waiver Of Trial By Jury. The Guarantor and the Secured Parties, by their execution and acceptance, respectively,
of this Guaranty, agree that any suit, action, or proceeding, whether claim or counterclaim, brought or instituted by any party hereto or any successor or assign of any party on or with respect to this Guaranty or which in any way relates, directly
or indirectly, to this Guaranty or any event, transaction, or occurrence arising out of or in any way connected with this Guaranty, or the dealings of the parties with respect thereto, shall be tried only by a court and not by a jury. EACH PARTY
HEREBY EXPRESSLY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY SUCH SUIT, ACTION, OR PROCEEDING. EACH PARTY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT, OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE
SECURED PARTIES WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT THE SECURED PARTIES HERETO HAVE BEEN INDUCED TO ACCEPT THIS GUARANTY BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
CERTIFICATIONS IN THIS SECTION. 
 [SIGNATURES BEGIN ON THE FOLLOWING PAGE] 

Signature Page To Guaranty Agreement: 

IN WITNESS WHEREOF, the Guarantor has duly executed this Guaranty under seal as of the date first written above. 

 

													
	WITNESS/ATTEST:	 		 		 	 Guarantor:

				
		 		 		 	 CATALYST ENTERPRISES, INC.,

A California Corporation

						
		 		 		 	By:	 	 /s/ Sean B. O’Connor
	 	(SEAL)
	  
	 		 		 		 	Name:	 	Sean B. O’Connor
		 		 		 		 	Title:	 	Vice President, Finance, Chief Financial Officer, Secretary and Treasurer

 GUARANTY AGREEMENT 

THIS GUARANTY AGREEMENT (“Guaranty”) is made to be effective as of July 29, 2010, by COMPUTER ACCESS TECHNOLOGY
CORPORATION, a Delaware corporation (“Guarantor”), to MANUFACTURERS AND TRADERS TRUST COMPANY, a New York banking corporation, individually, and in its capacity as “Agent” (in such capacity, “Agent”), acting for and on
behalf of those persons who are now or who hereafter become a “Lender,” “Swingline Lender,” and “Issuing Lender” (as such terms are defined in the Credit Agreement (as hereinafter defined), including the Agent in its
capacity as a Lender, Swingline Lender and Issuing Lender), under the Amended and Restated Credit Agreement dated to be effective as of even date herewith (as the same may be amended, modified, extended, renewed, restated, supplemented or replaced,
“Credit Agreement”), and to each of the Lenders, Swingline Lender and the Issuing Lender, with respect to the obligations of LECROY CORPORATION, a Delaware corporation (“Borrower”). Capitalized terms which are not otherwise
defined in this Guaranty shall have the meanings set forth in the Credit Agreement. 
 RECITALS 

The Borrower has requested certain credit accommodations from the Lenders, the Swingline Lender, and the Issuing Lender. The Lenders, the
Swingline Lender, and the Issuing Lender have agreed to provide the requested credit accommodations to the Borrower, but only if the Guarantor provides to the Agent, the Lenders, the Swingline Lender, and the Issuing Lender (collectively,
“Secured Parties”) the guaranties of payment and performance set forth in this Guaranty. The Guarantor is willing to provide this Guaranty to the Secured Parties in order to induce the Lenders, the Swingline Lender, and the Issuing Lender
to provide the requested credit accommodations to the Borrower. 
 NOW, THEREFORE, in consideration of these premises and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Guarantor hereby agrees to provide to the Secured Parties the following guaranties and indemnifications. 

Section 1. Guaranty. The Guarantor guarantees to the Agent for the benefit of the Secured Parties and to the Secured Parties:
(a) the payment of any and all sums now or hereafter due and owing to the any of the Secured Parties by the Borrower as a result of or in connection with any and all existing or future indebtedness, liability, or obligation of every kind,
nature, type, and variety owed by the Borrower to any of the Secured Parties from time to time, arising out of or related to any credit accommodation, loan, letter of credit, guaranty, depository relationship, transaction, event, or occurrence,
whether direct or indirect, absolute or contingent, primary or secondary, joint or several, unconditional or conditional, known or unknown, liquidated or unliquidated, contractual or tortious, including all renewals, refinancings, extensions,
substitutions, amendments, and modifications thereof, no matter when or how created, arising, evidenced, or acquired, and whether or not presently contemplated or anticipated, including, but not limited to, all amounts of principal, interest,
charges, reimbursements, advancements, escrows, and fees; (b) that all sums now or hereafter due and owing by the Borrower to any of the Secured Parties shall be paid when and as due, whether by reason of installment, maturity, acceleration or
otherwise, time being of the essence; and (c) the timely, complete, continuous, and strict performance and observance by the Borrower of each of the terms, covenants, agreements and conditions contained in any and all existing or future
documents, instruments, agreements, and writings of every kind, nature, type, and variety which evidence, reflect, embody, give rise to or secure any and all existing and future indebtedness, liabilities, and obligations of any kind of the Borrower
to any of the Secured Parties under the Credit Agreement or any other document executed in connection with or related to the Credit Agreement (collectively, “Loan Documents”). As used in this Guaranty, the term “Obligations”
shall refer to the obligations of payment, performance, and indemnification which the Guarantor has undertaken and assumed pursuant to this Guaranty, both as described in this Section and in other Sections of this Guaranty. This Guaranty shall be
administered and enforced by the Agent on behalf and for the ratable and proportionate benefit of the Secured Parties in accordance with the Credit Agreement. 

Section 2. Nature Of Guaranty. This Guaranty: (a) is (i) irrevocable, (ii) absolute and unconditional,
(iii) direct, immediate, and primary, and (iv) one of payment and not just collection; and (b) makes the Guarantor a surety to the Agent for the benefit of the Secured Parties, and to each of the Secured Parties, with respect to the
Obligations and the equivalent of a co-obligor with the Borrower. Without limiting the foregoing, it is specifically understood that any modification, limitation or discharge of any of the liabilities or obligations of the Borrower, any other
guarantor or any other obligor under any of the Loan Documents, arising out of, or by virtue of, any bankruptcy, arrangement, reorganization or similar proceeding for relief of debtors under federal or state law initiated by or against the Borrower,

 
any other guarantor or any obligor under any of the Loan Documents shall not modify, limit, lessen, reduce, impair, discharge, or otherwise affect the liability of the Guarantor hereunder in any
manner whatsoever, and this Guaranty shall remain and continue in full force and effect. 
 Section 3. Security
Interests. The obligations of the Guarantor hereunder are secured by the collateral and in accordance with the terms set forth and described in the Credit Agreement and the other Loan Documents. 

Section 4. Accuracy Of Representations. The Guarantor guaranties that all representations and warranties made by the Borrower
or by the Guarantor to any of the Secured Parties prior to or after the date of this Guaranty are and will continue to be true, correct, accurate, and complete and not knowingly misleading, and the Guarantor agrees to indemnify and hold each of the
Secured Parties harmless from any loss, cost, or expense which any of the Secured Parties may suffer, sustain or incur as a result of any representation or statement of the Borrower or of the Guarantor being materially false, incorrect, inaccurate,
incomplete, or knowingly misleading. 
 Section 5. Representations Of Guarantor. To induce the Secured Parties to
accept this Guaranty for the purposes for which it is given, the Guarantor represents and warrants to the Secured Parties as follows: 

(a) The Guarantor is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its
organization. The Guarantor has the lawful power to own its properties and to engage in the business it conducts, and, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material
Adverse Effect, is duly qualified and in good standing as a foreign corporation in every jurisdiction where such qualification is required. 

(b) Any financial statements submitted by the Guarantor to the Secured Parties, including any schedules and notes pertaining thereto,
have been prepared in accordance with GAAP, and fully and fairly present the financial condition of the Guarantor at the dates thereof and the results of operations for the periods covered thereby, and there has been no material adverse change in
the financial condition or business of the Guarantor from the dates thereof to the date hereof, other than as disclosed to the Secured Parties. 

(c) The Guarantor is not in default with respect to any of its existing indebtedness, and the making and performance of this Guaranty
will not (immediately, with the passage of time, the giving of notices, or both), (i) violate the organizational documents of the Guarantor, (ii) violate any applicable law or regulation, (iii) result in a default under any contract,
agreement, or instrument to which the Guarantor is a party or by which the Guarantor or its property is bound, or (iv) result in the creation or imposition of any security interest in, or lien or encumbrance upon, any of the assets of the
Guarantor except in favor of the Secured Parties. 
 (d) The Guarantor has the power and authority to enter into and perform
this Guaranty, and to incur the Obligations, and has taken all corporate action necessary to authorize the execution, delivery, and performance of this Guaranty. 

(e) This Guaranty when delivered will be, valid, binding, and enforceable in accordance with its terms. 

(f) The incurring or satisfaction of the Obligations has not left and will not leave the Guarantor insolvent, with an unreasonably small
capital, or unable to pay existing or future debts as they mature. 
 Section 6. Reporting Requirements. To the
extent not included in the financial statements and other information provided to the Secured Parties pursuant to Sections 6.02 of the Credit Agreement, the Guarantor shall furnish the following items to each of the Secured Parties: 

(a) As soon as available and in any event within forty-five (45) calendar days after the end of each of the first three fiscal
quarters of each fiscal year of the Guarantor, (i) its consolidated balance sheet and related statements of income, stockholders’ equity and cash flows as of the end of and for such fiscal quarter and the then elapsed portion of the fiscal
year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year and (ii) unaudited financial information for each of
the Guarantor’s business lines, all certified by the president or chief financial officer of the 

 
Guarantor as presenting fairly in all material respects the financial condition and results of operations of the Guarantor on a consolidated basis in accordance with GAAP consistently applied,
subject to normal year-end audit adjustments and the absence of footnotes. 
 (b) its audited consolidated balance sheet and
related statements of income, stockholders’ equity and cash flows as of the end of and for such year, setting forth in each case in comparative form the figures for the previous fiscal year, all reported on by KPMG LLP or other independent
public accountants of recognized national standing (without a “going concern” or like qualification or exception and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial
statements present fairly in all material respects the financial condition and results of operations of the Guarantor in accordance with GAAP consistently applied; and 

(c) As soon as available and in any event within ninety (90) days after the end of each fiscal year of the Guarantor: (i) its
consolidating balance sheets and related statements of income and stockholders’ equity as of the end of and for such year, setting forth in each case in comparative form the figures for the previous fiscal year and (ii) unaudited financial
information for each of the Guarantor’s business lines, all certified by the president or chief financial officer of the Guarantor as presenting fairly in all material respects the financial condition and results of operations of the Guarantor
in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes. 
 (d)
General Information. In addition to the items set forth in subsections (a), (b), and (c) above, the Guarantor agrees to submit to the Secured Parties, acting through the Agent, such other information respecting the condition or
operations, financial or otherwise, of the Guarantor as the Secured Parties, acting through the Agent, may reasonably request from time to time. 

Section 7. Agent Need Not Pursue Other Rights. The Agent shall be under no obligation to pursue, on behalf of any of the
Secured Parties, any of the right and remedies of any of the Secured Parties against any Borrower or any of the collateral of any Borrower securing the obligations of the Borrower to any of the Secured Parties, or against any other guarantor or any
collateral of any other guarantor before pursuing, on behalf of the Secured Parties, any of the Agent’s rights and remedies against the Guarantor. 

Section 8. Certain Rights Of Agent. The Guarantor hereby assents to any and all terms and agreements between any of the
Secured Parties and the Borrower, or between any of the Secured Parties and any other guarantor, and all amendments and modifications thereof, whether presently existing or hereafter made and whether oral or in writing. Any of the Secured Parties
may, without compromising, impairing, diminishing, or in any way releasing the Guarantor from the Obligations and without notifying or obtaining the prior approval of the Guarantor, at any time or from time to time: (a) waive or excuse a
default by the Borrower or any other guarantor, or delay in the exercise by the Agent, on behalf of the Secured Parties, of any or all of the rights or remedies of the Agent or any of the Secured Parties with respect to such default or defaults;
(b) grant extensions of time for payment or performance by the Borrower or any other guarantor; (c) release, substitute, exchange, surrender, or add collateral of any Borrower or of any other guarantor, or waive, release, or subordinate,
in whole or in part, any lien or security interest held by the Agent, on behalf of any of the Secured Parties, on any real or personal property securing payment or performance, in whole or in part, of the obligations of the Borrower to the Agent on
behalf of any of the Secured Parties or of any other guarantor; (d) release the Borrower or any other guarantor; (e) apply payments made by the Borrower or by any other guarantor to any sums owed by the Borrower to any of the Secured
Parties, in any order or manner, or to any specific account or accounts, as the Agent may elect; and (f) modify, change, renew, extend, or amend in any respect the agreements of any of the Secured Parties with the Borrower or any other
guarantor, or any document, instrument, or writing embodying or reflecting the same, including without limitation modifications which increase the amount of the Obligations or extend the maturity of the Obligations. 

Section 9. Waivers By Guarantor. The Guarantor waives: (a) any and all notices whatsoever with respect to this Guaranty
or with respect to any of the obligations of the Borrower to any of the Secured Parties, including, but not limited to, notice of (i) the Agent’s acceptance hereof on behalf of the Secured Parties, or the Agent’s intention to act on
behalf of the Secured Parties, or the Agent’s action on behalf of the Secured Parties in reliance hereon, (ii) the present existence or future incurring of any of the obligations of the Borrower to any of the Secured Parties or any terms
or amounts thereof or any change therein, (iii) any default by the Borrower or any surety, pledgor, grantor of security, guarantor or any person who has guarantied or secured in whole or in part the obligations of the Borrower to any of the
Secured Parties, and (iv) the obtaining or release of any guaranty or surety agreement, pledge, assignment, or other 

 
security for any of the obligations of the Borrower to any of the Secured Parties; (b) presentment and demand for payment of any sum due from the Borrower or any other guarantor and protest
of nonpayment; (c) demand for performance by the Borrower or any other guarantor; and (d) any and all defenses based on suretyship or impairment of collateral. 

Section 10. Unenforceability Of Obligations Of Borrower. This Guaranty shall be valid, binding, and enforceable even if the
obligations of the Borrower to any of the Secured Parties which are guaranteed hereby are now or hereafter become invalid or unenforceable for any reason. 

Section 11. No Conditions Precedent. This Guaranty shall be effective and enforceable immediately upon its execution. The
Guarantor acknowledges that no unsatisfied conditions precedent to the effectiveness and enforceability of this Guaranty exist as of the date of its execution and that the effectiveness and enforceability of this Guaranty are not in any way
conditioned or contingent upon any event, occurrence, or happening, or upon any condition existing or coming into existence either before or after the execution of this Guaranty. 

Section 12. No Duty To Disclose. None of the Secured Parties shall have any present or future duty or obligation to discover
or to disclose to the Guarantor any information, financial or otherwise, concerning any Borrower, any other guarantor, or any collateral securing either the obligations of any Borrower to any of the Secured Parties or of any other person who may
have guarantied in whole or in part the obligations of the Borrower to any of the Secured Parties. The Guarantor waives any right to claim or assert any such duty or obligation on the part of any of the Secured Parties. The Guarantor agrees to
obtain all information which the Guarantor considers either appropriate or relevant to this Guaranty from sources other than the Secured Parties and to become and remain at all times current and continuously apprised of all information concerning
the Borrower, other guarantors, and any collateral which is material and relevant to the obligations of the Guarantor under this Guaranty. 

Section 13. Existing Or Future Guaranties. The execution of this Guaranty shall not discharge, terminate or in any way impair
or adversely affect the validity or enforceability of any other guaranty given by the Guarantor to any of the Secured Parties. The execution and delivery by the Guarantor of any future guaranty for the benefit of the Agent on behalf of the Secured
Parties, or the Secured Parties, shall not discharge, terminate, or in any way impair or adversely affect the validity or enforceability of this Guaranty. All guaranties provided by the Guarantor to the Agent on behalf of the Secured Parties, or to
the Secured Parties, are intended to be cumulative and shall remain in full force and effect unless and until discharged and terminated in accordance with any expressly stated termination provisions set forth therein. 

Section 14. Cumulative Liability. The liability of the Guarantor under this Guaranty shall be cumulative to, and not in lieu
of, the Guarantor’s liability under any of the other Loan Documents or in any capacity other than as Guarantor hereunder. 

Section 15. Obligations Are Unconditional. The payment and performance of the Obligations shall be the absolute and
unconditional duty and obligation of the Guarantor, and shall be independent of any defense or any rights of setoff, recoupment or counterclaim which the Guarantor might otherwise have against any of the Secured Parties, and the Guarantor shall pay
and perform these Obligations, free of any deductions and without abatement, diminution or setoff. Until such time as the Obligations have been fully paid and performed, the Guarantor: (a) shall not suspend or discontinue any payments provided
for herein; (b) shall perform and observe all of the covenants and agreements contained in this Guaranty; and (c) shall not terminate or attempt to terminate this Guaranty for any reason. No delay by the Agent on behalf of the Secured
Parties, or by any of the Secured Parties, in making demand on the Guarantor for satisfaction of the Obligations shall prejudice or in any way impair the ability of the Agent or the Secured Parties to enforce this Guaranty. 

Section 16. Defenses Against Borrower. The Guarantor waives any right to assert against the Agent on behalf of the Secured
Parties, or any of the Secured Parties, any defense (whether legal or equitable), claim, counterclaim, or right of setoff or recoupment which the Guarantor may now or hereafter have against the Borrower or any other guarantor. 

Section 17. Events Authorizing Acceleration Of The Obligations. The occurrence of any of the following (each an “Event
of Default”) shall entitle the Agent on behalf of the Secured Parties, and the Secured Parties, without 

 
notice or demand, to accelerate and call due the Obligations, even if the Agent on behalf of the Secured Parties has not accelerated and called due the sums owed to the Agent on behalf of the
Secured Parties by the Borrower, or even if any of the Secured Parties has not accelerated and called due the sums owed to it by the Borrower: (a) the occurrence of any “Event of Default,” as such term is defined in the Credit
Agreement; (b) the commencement by the Guarantor of a voluntary case or proceeding under any federal or state bankruptcy, insolvency or similar law; (c) the commencement of an involuntary case or proceeding against the Guarantor under any
federal or state bankruptcy, insolvency, or similar law, and either (i) such case or proceeding is not dismissed within sixty (60) calendar days after commencement, or (ii) an order for relief is entered in such case; (d) the
appointment of a receiver, assignee, custodian, trustee or similar official under any federal or state insolvency or creditors’ rights law for any property of the Guarantor; (e) one or more judgments for the payment of money in an
aggregate amount in excess of Three Million Dollars ($3,000,000.00) shall be rendered against the Guarantor, the Borrower, or any other Subsidiary Guarantor (or any combination thereof) and the same shall remain undischarged for a period of thirty
(30) consecutive days during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of the Borrower, the Guarantor or any other Subsidiary Guarantor to
enforce any such judgment; (f) a failure of the Guarantor to perform any covenant or agreement contained in this Guaranty or in any other agreement between the Guarantor and any of the Secured Parties after expiration of any applicable cure
period; (g) any representation or warranty made by the Guarantor to any of the Secured Parties in any report or financial statement furnished in connection with this Guaranty shall prove to have been false or misleading in any material respect
when made; (h) the liquidation or dissolution of the Guarantor; or (i) the failure of the Guarantor to satisfy any of the obligations of the Guarantor to any of the Secured Parties with respect to any loan or extension of credit by any of
the Secured Parties to the Guarantor, or under any other Guaranty given by the Guarantor to the Agent on behalf of the Secured Parties, or to the Secured Parties. 

Section 18. Enforcement During Bankruptcy. Enforcement of this Guaranty shall not be stayed or in any way delayed as a result
of the filing of a petition under the United States Bankruptcy Code, as amended, by or against the Borrower. Should the Agent on behalf of the Secured Parties, or the Secured Parties, be required to obtain an order of the United States
Bankruptcy Court to begin enforcement of this Guaranty after the filing of a petition under the United States Bankruptcy Code, as amended, by or against the Borrower, the Guarantor hereby consents to this relief and agrees to file or cause to
be filed all appropriate pleadings to evidence and effectuate such consent and to enable the Agent on behalf of the Secured Parties to obtain the relief requested. 

Section 19. Remedies Cumulative. All of the rights and remedies of the Agent on behalf of the Secured Parties, and of the
Secured Parties, shall be cumulative and any failure of the Agent on behalf of the Secured Parties, or of the Secured Parties, to exercise any right hereunder shall not be construed as a waiver of the right to exercise the same or any other right at
any time, and from time to time, thereafter. 
 Section 20. Continuing Guaranty. This Guaranty is a continuing
guaranty of all existing and future obligations of the Borrower to each of the Secured Parties and may not be terminated by the Guarantor until after the termination of the Loan Documents, in accordance with the provisions thereof, and the payment
(which payment shall not be subject to challenge or contest) in full of all of the Obligations and all of the Borrower’ obligations and liabilities to the Secured Parties under the Loan Documents. 

Section 21. Reinstatement. If at any time any payment, or portion thereof, made by, or for the account of, any Borrower or
the Guarantor on account of any of the obligations and liabilities under any of the Loan Documents is set aside by any court or trustee having jurisdiction as a voidable preference, or fraudulent conveyance or must otherwise be restored or returned
by the Agent on behalf of the Secured Parties, or the Secured Parties, to a Borrower or any other person or entity under any insolvency, bankruptcy or other federal and/or state laws or as a result of any dissolution, liquidation or reorganization
of any Borrower or any other person or entity, or for any other reason, the Guarantor hereby agrees that this Guaranty shall continue and remain in full force and effect or be reinstated, as the case may be, all as though such payment(s) had not
been made. 
 Section 22. Rights Of Subrogation, Etc. In the event the Guarantor pays any sum to or for the benefit
of the Secured Parties pursuant to this Guaranty, the Guarantor may not enforce any right of contribution, indemnification, exoneration, reimbursement, subrogation or other right or remedy against any Borrower, any other guarantor, or any
collateral, whether real, personal, or mixed, securing the obligations of any Borrower to any of the Secured Parties, or the obligations of any other guarantor to the Agent on behalf of the Secured Parties, until such time as all of the Secured
Parties have been paid in full and have no further claim against the Borrower, any other guarantor, or any collateral. The 

 
Guarantor waives and releases any claim which the Guarantor hereafter may have against any of the Secured Parties if any action of any of the Secured Parties, whether intentional or negligent,
impairs, destroys, or in any way adversely affects any right of contribution, indemnification, exoneration, reimbursement, subrogation, or the like which the Guarantor may have upon the payment of any sum to or for the benefit of any of the Secured
Parties pursuant to this Guaranty. 
 Section 23. Subordination Of Certain Indebtedness. If the Guarantor advances
any sums to the Borrower or their successors or assigns or if any Borrower or its successors or assigns shall hereafter become indebted to the Guarantor, such sums and indebtedness shall be subordinate in all respects to the amounts then or
thereafter due and owing to the Secured Parties by such Borrower. 
 Section 24. Setoff. Each of the Secured Parties
(and their participants) shall have the right to setoff and apply against the Obligations any sums which the Guarantor at any time has on deposit with any of the Secured Parties (or their participants) whether such deposits are general or special,
time or demand, provisional or final, and the Guarantor hereby pledges and grants a security interest in all such deposits to the Agent for the benefit of the Secured Parties. 

Section 25. Renewals, Etc. This Guaranty shall apply to all sums now or hereafter owed by the Borrower to any of the Secured
Parties and to all extensions, modifications, amendments, renewals, substitutions, and refinancings thereof. 
 Section 26.
Choice Of Law. The laws of the State of New York (“Governing State”) (excluding, however, conflict of law principles) shall govern and be applied to determine all issues relating to this Guaranty and the rights and obligations of
the parties hereto, including the validity, construction, interpretation, and enforceability of this Guaranty and its various provisions and the consequences and legal effect of all transactions and events which resulted in the issuance of this
Guaranty or which occurred or were to occur as a direct or indirect result of this Guaranty having been executed. 

Section 27. Consent To Jurisdiction; Agreement As To Venue; Service of Process. The Guarantor irrevocably consents to the
non-exclusive jurisdiction of the courts of the Governing State and any United States District Court located in the Governing State, if a basis for federal jurisdiction exists. The Guarantor agrees that venue shall be proper in any State court
located in the Governing State selected by the Agent on behalf of the Secured Parties or in any United States District Court located in the Governing State if a basis for federal jurisdiction exists and waives any right to object to the maintenance
of a suit in any of the state or federal courts of the Governing State on the basis of improper venue or of inconvenience of forum. The Guarantor irrevocably, consents to service of process in the manner provided for notices in Section 32 of
this Guaranty. Nothing in this Guaranty will affect the right of the Agent or any other Secured Party to serve process in any other manner permitted by law. 

Section 28. Proofs Of Sums Due On Guaranty. In any action or proceeding brought by the Agent on behalf of the Secured Parties
to collect the sums owed on this Guaranty, a certificate signed by an officer of the Agent setting forth the unpaid balances of principal, and any accrued interest, default interest, attorneys’ fees, and late charges owed with respect hereto
shall be presumed correct and shall be admissible in evidence for the purpose of establishing the truth of what it asserts. If the Guarantor wishes to contest the accuracy of the figure set forth in any such certificate, the Guarantor shall have the
burden of proving by clear and convincing evidence that the certificate is inaccurate or incorrect. 
 Section 29.
Actions Against Secured Parties. Any action brought by the Guarantor against any of the Secured Parties which is based, directly or indirectly, on this Guaranty or any matter in or related to this Guaranty, including but not limited to the
obligations of the Borrower to any of the Secured Parties, the administration, collection, or enforcement thereof, shall be brought only in the courts of the Governing State. The Guarantor agrees that any forum other than the Governing State is an
inconvenient forum and that a suit brought by the Guarantor against any of the Secured Parties in a court of any state other than the Governing State should be forthwith dismissed or transferred to a court located in the Governing State by that
court. 
 Section 30. Invalidity Of Any Part. If any provision or part of any provision of this Guaranty shall for
any reason be held invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provisions or the remaining part of any effective provisions of this Guaranty, and this Guaranty shall
be 

 
construed as if such invalid, illegal, or unenforceable provision or part thereof had never been contained herein, but only to the extent of its invalidity, illegality, or unenforceability.

 Section 31. Amendment Or Waiver. This Guaranty may be amended only by a writing duly executed by the Guarantor
and the Agent on behalf of the Secured Parties. No waiver by the Agent on behalf of the Secured Parties, or by the Secured Parties, of any of the provisions of this Guaranty or any of the rights or remedies of the Agent on behalf of the Secured
Parties, or of the Secured Parties, with respect hereto shall be considered effective or enforceable unless in writing. 

Section 32. Notices. Any notice required or permitted by or in connection with this Guaranty shall be in writing and shall be
made by hand delivery, or other overnight courier service, mailed by certified or registered mail, or sent by telephone as follows: 

If to the Agent (with a copy to each of the other Secured Parties): 

MANUFACTURERS AND TRADERS TRUST COMPANY 

303 South Broadway, Suite 130 

Tarrytown, NY 10591 

Attn: Chris Tesla, CFA, CPA 

Telecopy No.: (914) 366-8523 

And to: 

MANUFACTURERS AND TRADERS TRUST COMPANY 

25 S. Charles Street,
12th Floor 

Baltimore, MD 21201 

Attn: Robert H. Hauver 

Telecopy No.: (410) 545-2079 

If to the Guarantor: 

COMPUTER ACCESS TECHNOLOGY CORPORATION 

700 Chestnut Ridge Road 

Chestnut Ridge, NY 10977 

Attn: Sean O’Connor 

Telecopy No.: (845) 578-8967 

With A Courtesy Copy To: 

Fish & Richardson, P.C. 

225 Franklin Street 

Boston, MA 02110 

Attention: Roger D. Feldman, Esq. 

Telecopy No.: (617) 542-8906 

Any party hereto may change its address or telecopy number for notices and other communications hereunder by notice to the other parties hereto. All
notices and other communications under this Guaranty given to any Guarantor, Agent or other Secured Party in accordance with the provisions of this Guaranty shall be deemed to have been given on the date of receipt. The failure of the Agent or any
other Secured Party to send the above-noted courtesy copy shall not impair the effectiveness of notice given to the Guarantor in the manner provided herein. 

Section 33. Binding Nature. This Guaranty shall inure to the benefit of and be enforceable by the Agent on behalf of the
Secured Parties and by the Agent’s successors and assigns and shall be binding upon and enforceable against the Guarantor and the Guarantor’s successors, and assigns. 

 Section 34. Joint And Several Nature. The liability of the Guarantor shall be
joint and several with the liability of any other guarantor not a party to this Guaranty. 
 Section 35.
Assignability. This Guaranty or an interest therein may be assigned by the Agent on behalf of the Secured Parties, or by any of the Secured Parties, in accordance with the Credit Agreement, or by any other holder at any time or from time to
time, without any prior notice to or consent from the Guarantor. 
 Section 36. Final Agreement. This Guaranty
contains the final and entire agreement between the parties with respect to the guaranty by the Guarantor of the Borrower’ obligations to the Secured Parties. There are no separate oral or written understandings between any of the Secured
Parties and the Guarantor with respect thereto. 
 Section 37. Tense, Gender, Captions. As used herein, the plural
includes the singular, and the singular includes the plural. The use of any gender applies to any other gender. If more than one person has executed this Guaranty, the term “Guarantor” means all such persons collectively or any one or more
of such persons individually or collectively, as the case may be and as the context may require. All captions are for the purpose of convenience only. 

Section 38. Seal And Effective Date. This Guaranty is an instrument executed under seal and is to be considered effective and
enforceable as of the date set forth on the first page hereof, independent of the date of actual execution. 
 Section 39.
Waiver Of Trial By Jury. The Guarantor and the Secured Parties, by their execution and acceptance, respectively, of this Guaranty, agree that any suit, action, or proceeding, whether claim or counterclaim, brought or instituted by any party
hereto or any successor or assign of any party on or with respect to this Guaranty or which in any way relates, directly or indirectly, to this Guaranty or any event, transaction, or occurrence arising out of or in any way connected with this
Guaranty, or the dealings of the parties with respect thereto, shall be tried only by a court and not by a jury. EACH PARTY HEREBY EXPRESSLY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY SUCH SUIT, ACTION, OR PROCEEDING. EACH PARTY
(A) CERTIFIES THAT NO REPRESENTATIVE, AGENT, OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE SECURED PARTIES WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES
THAT THE SECURED PARTIES HERETO HAVE BEEN INDUCED TO ACCEPT THIS GUARANTY BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

[SIGNATURES BEGIN ON THE FOLLOWING PAGE] 
  

 Signature Page To Guaranty Agreement: 

IN WITNESS WHEREOF, the Guarantor has duly executed this Guaranty under seal as of the date first written above. 

 

													
	WITNESS/ATTEST:	 		 		 	Guarantor:
				
		 		 		 	 COMPUTER ACCESS TECHNOLOGY CORPORATION,

A Delaware Corporation

						
		 		 		 	By:	 	 /s/ Sean B. O’Connor
	 	(SEAL)
	  
	 		 		 		 	Name:	 	Sean B. O’Connor
		 		 		 		 	Title:	 	Vice President, Finance, Chief Financial Officer, Secretary and Treasurer

 Exhibit C 

 

	 Buffalo, New York 
	 $15,000.000.00 

July 29, 2010 

REVOLVING LOAN PROMISSORY NOTE 

FOR VALUE RECEIVED, the undersigned LECROY CORPORATION, a Delaware corporation (the “Borrower), promises to pay to the order of
CAPITAL ONE, NATIONAL ASSOCIATION, A National Banking Association, Successor to North Fork Bank (“Lender”), c/o MANUFACTURERS AND TRADERS TRUST COMPANY (in such capacity, “Agent”), 1 M&T Plaza, Buffalo, New York 14203, or at
such other places as the Agent may from time to time designate, the principal sum of Fifteen Million Dollars ($15,000,000.00), or the unpaid portion thereof as has been advanced to the Borrower for the account of the Lender as a “Revolving
Loan,” as such term is defined and described in the Amended and Restated Credit Agreement dated to be effective as of even date herewith (as the same may be amended, modified, extended, renewed, restated, supplemented or replaced from time to
time, the “Agreement”) between the Borrower, the Agent, the Lender, the other “Lenders,” the “Swingline Lender” and the “Issuing Lender,” as such terms are defined in the Agreement, together with interest on
the unpaid principal balance from time to time outstanding at the rate or rates specified in the Agreement until paid in full and any and all other sums which may be owing to the holder of this Revolving Loan Promissory Note by the Borrower pursuant
to this Revolving Loan Promissory Note, on or before the “Maturity Date,” as such term is defined in the Agreement, or such earlier date as required by the Agreement. This Revolving Loan Promissory Note is a “Revolving Note,” as
such term is defined in the Agreement. The following terms shall apply to this Revolving Loan Promissory Note. 
 1. Interest
Rates, Calculation Of Interest, Obligations And Terms Of Repayment; And Rights Of Prepayment. The Borrower agrees to pay principal and all interest which accrues on the unpaid balance of this Revolving Loan Promissory Note from the date of this
Revolving Loan Promissory Note until such time as the obligations evidenced hereunder have been paid in full, at the times and in accordance with the covenants, procedures and requirements set forth in the Agreement. Interest shall accrue, be
payable, and shall be calculated as provided for in the Agreement. The Borrower further promises to pay all default interest, late payment charges, fees, and other expenses, costs and payment obligations as are required by the Agreement to be made
by the Borrower to or for the account of the Lender. The principal balance of this Revolving Loan Promissory Note, together with all other unpaid interest, fees, expenses and other sums due to the holder, shall be paid in full on or before the
Maturity Date. The Borrower’s right to prepay any or all sums due pursuant to this Revolving Loan Promissory Note shall be governed by the terms and conditions of the Agreement. 

2. Interest Rate After Judgment. If judgment is entered against the Borrower on this Revolving Loan Promissory Note, the amount of
the judgment entered (which may include principal, interest, fees, and costs) shall bear interest at the higher of the maximum interest rate imposed upon judgments by applicable law or the default interest rate set forth in the Agreement, to be
determined on the date of the entry of the judgment. 
 3. Expenses Of Collection And Attorneys’ Fees. Should this
Revolving Loan Promissory Note be referred to an attorney for collection, whether or not suit is filed, the Borrower shall pay all of the holder’s costs, fees and expenses, including reasonable attorneys’ fees, resulting from such
referral. 
 4. Waiver Of Defenses. In the event any one or more holders of this Revolving Loan Promissory Note transfer
this Revolving Loan Promissory Note for value, the Borrower agrees that, except as otherwise provided herein, all subsequent holders of this Revolving Loan Promissory Note who take for value and without actual knowledge of a claim or defense of the
Borrower against a prior holder shall not be subject to any claims or defenses which the Borrower may have against a prior holder, all of which are waived as to the subsequent holder, and that all such subsequent holders shall have all rights of a
holder in due course with respect to the Borrower even though the subsequent holder may not qualify, under applicable law, absent this section, as a holder in due course. The Borrower shall retain all rights and claims which the Borrower may have
against prior holders despite any such transfers and the waiver of defenses provided in this section as to subsequent holders. Notwithstanding the foregoing, nothing herein shall represent the waiver by the Borrower of any defense based upon any
payment hereof made to any former holder hereof prior to the Borrower having been notified of the transfer of this Revolving Loan Promissory Note to any subsequent holder. 

 5. Waiver Of Protest. The Borrower, and all parties to this Revolving Loan Promissory
Note, whether maker, indorser, or guarantor, waive presentment, notice of dishonor and protest. 
 6. Extensions Of
Maturity. All parties to this Revolving Loan Promissory Note, whether maker, indorser, or guarantor, agree that the maturity of this Revolving Loan Promissory Note, or any payment due hereunder, may be extended at any time or from time to time
without releasing, discharging, or affecting the liability of such party. 
 7. Manner And Method Of Payment. All
payments called for in this Revolving Loan Promissory Note shall be made in lawful money of the United States of America. If made by check, draft, or other payment instrument, such check, draft, or other payment instrument shall represent
immediately available funds. In the holder’s discretion, any payment made by a check, draft, or other payment instrument shall not be considered to have been made until such time as the funds represented thereby have been collected by the
holder. Should any payment date fall on a non-banking day, the Borrower shall make the payment on the next succeeding banking day. 

8. Security. The obligations of the Borrower hereunder are secured by the collateral and in accordance with the terms set forth
and described in the Agreement and the other “Loan Documents,” as such term is defined in the Agreement. 
 9.
Notices. Any notice or demand required or permitted by or in connection with this Revolving Loan Promissory Note shall be given in the manner specified in the Agreement for the giving of notices under the Agreement. Notwithstanding anything
to the contrary, all notices and demands for payment from the holder actually received in writing by the Borrower shall be considered to be effective upon the receipt thereof by the Borrower regardless of the procedure or method utilized to
accomplish delivery thereof to the Borrower. 
 10. Assignability. This Revolving Loan Promissory Note may only be
assigned by the Lender or by any holder to the extent permitted by the stated terms of the Agreement. 
 11. Binding
Nature. This Revolving Loan Promissory Note shall inure to the benefit of and be enforceable by the Lender and the Lender’s successors and assigns, and shall be binding and enforceable against the Borrower and the Borrower’s successors
and assigns. 
 12. Invalidity Of Any Part. If any provision or part of any provision of this Revolving Loan Promissory
Note shall for any reason be held invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Revolving Loan Promissory Note and this Revolving Loan Promissory Note
shall be construed as if such invalid, illegal or unenforceable provision or part thereof had never been contained herein, but only to the extent of its invalidity, illegality, or unenforceability. 

13. Choice Of Law. The laws of the State of New York (“Governing State”) (excluding, however, conflict of law
principles) shall govern and be applied to determine all issues relating to this Revolving Loan Promissory Note and the rights and obligations of the parties hereto, including the validity, construction, interpretation, and enforceability of this
Revolving Loan Promissory Note and its various provisions and the consequences and legal effect of all transactions and events which resulted in the issuance of this Revolving Loan Promissory Note or which occurred or were to occur as a direct or
indirect result of this Revolving Loan Promissory Note having been executed. 
 14. Consent To Jurisdiction; Agreement As To
Venue. The Borrower irrevocably consents to the non-exclusive jurisdiction of the courts of the Governing State and of any United States District Court located in the Governing State, if a basis for federal jurisdiction exists. The Borrower
agrees that venue shall be proper in any state court selected by the “Required Lenders” (as such term is defined in he Agreement) and in any United States District Court located in the Governing State, if a basis for federal jurisdiction
exists, and waives any right to object to the maintenance of a suit in any of the state or federal courts of the Governing State on the basis of improper venue or of inconvenience of forum. 

15. Unconditional Obligations. The Borrower’s obligations pursuant to this Revolving Loan Promissory Note shall be the
absolute and unconditional duty and obligation of the Borrower and shall be independent of any rights of set-off, recoupment or counterclaim which the Borrower might otherwise have against the holder of this Revolving

 
Loan Promissory Note, and the Borrower shall pay absolutely the payments of principal, interest, fees and expenses required hereunder, free of any deductions and without abatement, diminution or
set-off. 
 16. Seal And Effective Date. This Revolving Loan Promissory Note is an instrument executed under seal and is
to be considered effective and enforceable as of the date set forth on the first page hereof, independent of the date of actual execution and delivery. 

17. Tense; Gender; Defined Terms; Section Headings. As used herein, the singular includes the plural and the plural includes the
singular. A reference to any gender also applies to any other gender. Defined terms are entirely capitalized throughout, and defined terms not specifically defined herein shall have the same meaning as provided by the terms of the Agreement. The
section headings are for convenience only and are not part of this Revolving Loan Promissory Note. 
 18. Actions Against
Holder. Any action brought by the Borrower against the holder of this Revolving Loan Promissory Note which is based, directly or indirectly, on this Revolving Loan Promissory Note or any matter in or related to this Revolving Loan Promissory
Note, including but not limited to the making of the loan evidenced hereby or the administration or collection thereof, shall be brought only in the courts of the Governing State. The Borrower agrees that any forum other than the Governing State is
an inconvenient forum and that a suit brought by the Borrower against the holder of this Revolving Loan Promissory Note in a court of any state other than the Governing State should be forthwith dismissed or transferred to a court located in the
Governing State. 
 19. Waiver Of Jury Trial. The Borrower (by execution of this Revolving Loan Promissory Note) and the
holder of this Revolving Loan Promissory Note (by acceptance of this Revolving Loan Promissory Note) agree that any suit, action, or proceeding, whether claim or counterclaim, brought or instituted by or against the Borrower or the holder of this
Revolving Loan Promissory Note, or any successor or assign of the Borrower or the holder of this Revolving Loan Promissory Note, on or with respect to this Revolving Loan Promissory Note or any of the other Loan Documents, or which in any way
relates, directly or indirectly, to the obligations of the Borrower to the holder of this Revolving Loan Promissory Note under this Revolving Loan Promissory Note or any of the other Loan Documents, or the dealings of the parties with respect
thereto, shall be tried only by a court and not by a jury. THE BORROWER AND THE HOLDER OF THIS REVOLVING LOAN PROMISSORY NOTE HEREBY EXPRESSLY WAIVE ANY RIGHT TO A TRIAL BY JURY IN ANY SUCH SUIT, ACTION, OR PROCEEDING. THE BORROWER AND THE HOLDER
EACH (A) CERTIFY THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OR ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE LENDER WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT
THE LENDER HAS BEEN INDUCED TO ACCEPT THIS REVOLVING LOAN PROMISSORY NOTE AND ENTER INTO THE LOAN DOCUMENTS TO WHICH IT IS A PARTY BY, AMONG OTHER THINGS, THE WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

[SIGNATURES BEGIN ON THE FOLLOWING PAGE] 
  

 Signature Page To Revolving Loan Promissory Note: 

IN WITNESS WHEREOF, the Borrower has duly executed this Revolving Loan Promissory Note under seal as of the date first above written.

  

													
	WITNESS/ATTEST:	 		 		 	THE BORROWER:
				
		 		 		 	LECROY CORPORATION,
		 		 		 	A Delaware Corporation
						
	  
	 		 		 	By:	 	 /s/ Sean B. O’Connor
	 	(SEAL)
		 		 		 		 	Name:	 	Sean B. O’Connor
		 		 		 		 	Title	 	Vice President, Finance, Chief Financial Officer, Secretary and Treasurer

	 Buffalo, New York 
	 $20,000,000.00 

July 29, 2010 

REVOLVING LOAN PROMISSORY NOTE 

FOR VALUE RECEIVED, the undersigned LECROY CORPORATION, a Delaware corporation (the “Borrower), promises to pay to the order of
MANUFACTURERS AND TRADERS TRUST COMPANY, a New York banking corporation (“Lender”), c/o MANUFACTURERS AND TRADERS TRUST COMPANY (in such capacity, “Agent”), 1 M&T Plaza, Buffalo, New York 14203, or at such other places as the
Agent may from time to time designate, the principal sum of Twenty Million Dollars ($20,000,000.00), or the unpaid portion thereof as has been advanced to the Borrower for the account of the Lender as a “Revolving Loan,” as such term is
defined and described in the Amended and Restated Credit Agreement dated to be effective as of even date herewith (as the same may be amended, modified, extended, renewed, restated, supplemented or replaced from time to time, the
“Agreement”) between the Borrower, the Agent, the Lender, the other “Lenders,” the “Swingline Lender” and the “Issuing Lender,” as such terms are defined in the Agreement, together with interest on the unpaid
principal balance from time to time outstanding at the rate or rates specified in the Agreement until paid in full and any and all other sums which may be owing to the holder of this Revolving Loan Promissory Note by the Borrower pursuant to this
Revolving Loan Promissory Note, on or before the “Maturity Date,” as such term is defined in the Agreement, or such earlier date as required by the Agreement. This Revolving Loan Promissory Note is a “Revolving Note,” as such
term is defined in the Agreement. The following terms shall apply to this Revolving Loan Promissory Note. 
 1. Interest
Rates, Calculation Of Interest, Obligations And Terms Of Repayment; And Rights Of Prepayment. The Borrower agrees to pay principal and all interest which accrues on the unpaid balance of this Revolving Loan Promissory Note from the date of this
Revolving Loan Promissory Note until such time as the obligations evidenced hereunder have been paid in full, at the times and in accordance with the covenants, procedures and requirements set forth in the Agreement. Interest shall accrue, be
payable, and shall be calculated as provided for in the Agreement. The Borrower further promises to pay all default interest, late payment charges, fees, and other expenses, costs and payment obligations as are required by the Agreement to be made
by the Borrower to or for the account of the Lender. The principal balance of this Revolving Loan Promissory Note, together with all other unpaid interest, fees, expenses and other sums due to the holder, shall be paid in full on or before the
Maturity Date. The Borrower’s right to prepay any or all sums due pursuant to this Revolving Loan Promissory Note shall be governed by the terms and conditions of the Agreement. 

2. Interest Rate After Judgment. If judgment is entered against the Borrower on this Revolving Loan Promissory Note, the amount of
the judgment entered (which may include principal, interest, fees, and costs) shall bear interest at the higher of the maximum interest rate imposed upon judgments by applicable law or the default interest rate set forth in the Agreement, to be
determined on the date of the entry of the judgment. 
 3. Expenses Of Collection And Attorneys’ Fees. Should this
Revolving Loan Promissory Note be referred to an attorney for collection, whether or not suit is filed, the Borrower shall pay all of the holder’s costs, fees and expenses, including reasonable attorneys’ fees, resulting from such
referral. 
 4. Waiver Of Defenses. In the event any one or more holders of this Revolving Loan Promissory Note transfer
this Revolving Loan Promissory Note for value, the Borrower agrees that, except as otherwise provided herein, all subsequent holders of this Revolving Loan Promissory Note who take for value and without actual knowledge of a claim or defense of the
Borrower against a prior holder shall not be subject to any claims or defenses which the Borrower may have against a prior holder, all of which are waived as to the subsequent holder, and that all such subsequent holders shall have all rights of a
holder in due course with respect to the Borrower even though the subsequent holder may not qualify, under applicable law, absent this section, as a holder in due course. The Borrower shall retain all rights and claims which the Borrower may have
against prior holders despite any such transfers and the waiver of defenses provided in this section as to subsequent holders. Notwithstanding the foregoing, nothing herein shall represent the waiver by the Borrower of any defense based upon any
payment hereof made to any former holder hereof prior to the Borrower having been notified of the transfer of this Revolving Loan Promissory Note to any subsequent holder. 

 5. Waiver Of Protest. The Borrower, and all parties to this Revolving Loan Promissory
Note, whether maker, indorser, or guarantor, waive presentment, notice of dishonor and protest. 
 6. Extensions Of
Maturity. All parties to this Revolving Loan Promissory Note, whether maker, indorser, or guarantor, agree that the maturity of this Revolving Loan Promissory Note, or any payment due hereunder, may be extended at any time or from time to time
without releasing, discharging, or affecting the liability of such party. 
 7. Manner And Method Of Payment. All
payments called for in this Revolving Loan Promissory Note shall be made in lawful money of the United States of America. If made by check, draft, or other payment instrument, such check, draft, or other payment instrument shall represent
immediately available funds. In the holder’s discretion, any payment made by a check, draft, or other payment instrument shall not be considered to have been made until such time as the funds represented thereby have been collected by the
holder. Should any payment date fall on a non-banking day, the Borrower shall make the payment on the next succeeding banking day. 

8. Security. The obligations of the Borrower hereunder are secured by the collateral and in accordance with the terms set forth
and described in the Agreement and the other “Loan Documents,” as such term is defined in the Agreement. 
 9.
Notices. Any notice or demand required or permitted by or in connection with this Revolving Loan Promissory Note shall be given in the manner specified in the Agreement for the giving of notices under the Agreement. Notwithstanding anything
to the contrary, all notices and demands for payment from the holder actually received in writing by the Borrower shall be considered to be effective upon the receipt thereof by the Borrower regardless of the procedure or method utilized to
accomplish delivery thereof to the Borrower. 
 10. Assignability. This Revolving Loan Promissory Note may only be
assigned by the Lender or by any holder to the extent permitted by the stated terms of the Agreement. 
 11. Binding
Nature. This Revolving Loan Promissory Note shall inure to the benefit of and be enforceable by the Lender and the Lender’s successors and assigns, and shall be binding and enforceable against the Borrower and the Borrower’s successors
and assigns. 
 12. Invalidity Of Any Part. If any provision or part of any provision of this Revolving Loan Promissory
Note shall for any reason be held invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Revolving Loan Promissory Note and this Revolving Loan Promissory Note
shall be construed as if such invalid, illegal or unenforceable provision or part thereof had never been contained herein, but only to the extent of its invalidity, illegality, or unenforceability. 

13. Choice Of Law. The laws of the State of New York (“Governing State”) (excluding, however, conflict of law
principles) shall govern and be applied to determine all issues relating to this Revolving Loan Promissory Note and the rights and obligations of the parties hereto, including the validity, construction, interpretation, and enforceability of this
Revolving Loan Promissory Note and its various provisions and the consequences and legal effect of all transactions and events which resulted in the issuance of this Revolving Loan Promissory Note or which occurred or were to occur as a direct or
indirect result of this Revolving Loan Promissory Note having been executed. 
 14. Consent To Jurisdiction; Agreement As To
Venue. The Borrower irrevocably consents to the non-exclusive jurisdiction of the courts of the Governing State and of any United States District Court located in the Governing State, if a basis for federal jurisdiction exists. The Borrower
agrees that venue shall be proper in any state court selected by the “Required Lenders” (as such term is defined in he Agreement) and in any United States District Court located in the Governing State, if a basis for federal jurisdiction
exists, and waives any right to object to the maintenance of a suit in any of the state or federal courts of the Governing State on the basis of improper venue or of inconvenience of forum. 

15. Unconditional Obligations. The Borrower’s obligations pursuant to this Revolving Loan Promissory Note shall be the
absolute and unconditional duty and obligation of the Borrower and shall be independent of any rights of set-off, recoupment or counterclaim which the Borrower might otherwise have against the holder of this Revolving

 
Loan Promissory Note, and the Borrower shall pay absolutely the payments of principal, interest, fees and expenses required hereunder, free of any deductions and without abatement, diminution or
set-off. 
 16. Seal And Effective Date. This Revolving Loan Promissory Note is an instrument executed under seal and is
to be considered effective and enforceable as of the date set forth on the first page hereof, independent of the date of actual execution and delivery. 

17. Tense; Gender; Defined Terms; Section Headings. As used herein, the singular includes the plural and the plural includes the
singular. A reference to any gender also applies to any other gender. Defined terms are entirely capitalized throughout, and defined terms not specifically defined herein shall have the same meaning as provided by the terms of the Agreement. The
section headings are for convenience only and are not part of this Revolving Loan Promissory Note. 
 18. Actions Against
Holder. Any action brought by the Borrower against the holder of this Revolving Loan Promissory Note which is based, directly or indirectly, on this Revolving Loan Promissory Note or any matter in or related to this Revolving Loan Promissory
Note, including but not limited to the making of the loan evidenced hereby or the administration or collection thereof, shall be brought only in the courts of the Governing State. The Borrower agrees that any forum other than the Governing State is
an inconvenient forum and that a suit brought by the Borrower against the holder of this Revolving Loan Promissory Note in a court of any state other than the Governing State should be forthwith dismissed or transferred to a court located in the
Governing State. 
 19. Waiver Of Jury Trial. The Borrower (by execution of this Revolving Loan Promissory Note) and the
holder of this Revolving Loan Promissory Note (by acceptance of this Revolving Loan Promissory Note) agree that any suit, action, or proceeding, whether claim or counterclaim, brought or instituted by or against the Borrower or the holder of this
Revolving Loan Promissory Note, or any successor or assign of the Borrower or the holder of this Revolving Loan Promissory Note, on or with respect to this Revolving Loan Promissory Note or any of the other Loan Documents, or which in any way
relates, directly or indirectly, to the obligations of the Borrower to the holder of this Revolving Loan Promissory Note under this Revolving Loan Promissory Note or any of the other Loan Documents, or the dealings of the parties with respect
thereto, shall be tried only by a court and not by a jury. THE BORROWER AND THE HOLDER OF THIS REVOLVING LOAN PROMISSORY NOTE HEREBY EXPRESSLY WAIVE ANY RIGHT TO A TRIAL BY JURY IN ANY SUCH SUIT, ACTION, OR PROCEEDING. THE BORROWER AND THE HOLDER
EACH (A) CERTIFY THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OR ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE LENDER WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT
THE LENDER HAS BEEN INDUCED TO ACCEPT THIS REVOLVING LOAN PROMISSORY NOTE AND ENTER INTO THE LOAN DOCUMENTS TO WHICH IT IS A PARTY BY, AMONG OTHER THINGS, THE WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

[SIGNATURES BEGIN ON THE FOLLOWING PAGE] 
  

 Signature Page To Revolving Loan Promissory Note: 

IN WITNESS WHEREOF, the Borrower has duly executed this Revolving Loan Promissory Note under seal as of the date first above written.

  

													
	WITNESS/ATTEST:	 		 		 	THE BORROWER:
				
		 		 		 	LECROY CORPORATION,
		 		 		 	A Delaware Corporation
						
	  
	 		 		 	By:	 	 /s/ Sean B. O’Connor
	 	(SEAL)
		 		 		 		 	Name:	 	Sean B. O’Connor
		 		 		 		 	Title	 	Vice President, Finance, Chief Financial Officer, Secretary and Treasurer

	 Buffalo, New York 
	 $15,000,000.00 

July 29, 2010 

REVOLVING LOAN PROMISSORY NOTE 

FOR VALUE RECEIVED, the undersigned LECROY CORPORATION, a Delaware corporation (the “Borrower), promises to pay to the order of RBS
CITIZENS, N.A. (“Lender”), c/o MANUFACTURERS AND TRADERS TRUST COMPANY (in such capacity, “Agent”), 1 M&T Plaza, Buffalo, New York 14203, or at such other places as the Agent may from time to time designate, the principal sum
of Fifteen Million Dollars ($15,000,000.00), or the unpaid portion thereof as has been advanced to the Borrower for the account of the Lender as a “Revolving Loan,” as such term is defined and described in the Amended and Restated Credit
Agreement dated to be effective as of even date herewith (as the same may be amended, modified, extended, renewed, restated, supplemented or replaced from time to time, the “Agreement”) between the Borrower, the Agent, the Lender, the
other “Lenders,” the “Swingline Lender” and the “Issuing Lender,” as such terms are defined in the Agreement, together with interest on the unpaid principal balance from time to time outstanding at the rate or rates
specified in the Agreement until paid in full and any and all other sums which may be owing to the holder of this Revolving Loan Promissory Note by the Borrower pursuant to this Revolving Loan Promissory Note, on or before the “Maturity
Date,” as such term is defined in the Agreement, or such earlier date as required by the Agreement. This Revolving Loan Promissory Note is a “Revolving Note,” as such term is defined in the Agreement. The following terms shall apply
to this Revolving Loan Promissory Note. 
 1. Interest Rates, Calculation Of Interest, Obligations And Terms Of Repayment;
And Rights Of Prepayment. The Borrower agrees to pay principal and all interest which accrues on the unpaid balance of this Revolving Loan Promissory Note from the date of this Revolving Loan Promissory Note until such time as the obligations
evidenced hereunder have been paid in full, at the times and in accordance with the covenants, procedures and requirements set forth in the Agreement. Interest shall accrue, be payable, and shall be calculated as provided for in the Agreement. The
Borrower further promises to pay all default interest, late payment charges, fees, and other expenses, costs and payment obligations as are required by the Agreement to be made by the Borrower to or for the account of the Lender. The principal
balance of this Revolving Loan Promissory Note, together with all other unpaid interest, fees, expenses and other sums due to the holder, shall be paid in full on or before the Maturity Date. The Borrower’s right to prepay any or all sums due
pursuant to this Revolving Loan Promissory Note shall be governed by the terms and conditions of the Agreement. 
 2.
Interest Rate After Judgment. If judgment is entered against the Borrower on this Revolving Loan Promissory Note, the amount of the judgment entered (which may include principal, interest, fees, and costs) shall bear interest at the higher of
the maximum interest rate imposed upon judgments by applicable law or the default interest rate set forth in the Agreement, to be determined on the date of the entry of the judgment. 

3. Expenses Of Collection And Attorneys’ Fees. Should this Revolving Loan Promissory Note be referred to an attorney for
collection, whether or not suit is filed, the Borrower shall pay all of the holder’s costs, fees and expenses, including reasonable attorneys’ fees, resulting from such referral. 

4. Waiver Of Defenses. In the event any one or more holders of this Revolving Loan Promissory Note transfer this Revolving Loan
Promissory Note for value, the Borrower agrees that, except as otherwise provided herein, all subsequent holders of this Revolving Loan Promissory Note who take for value and without actual knowledge of a claim or defense of the Borrower against a
prior holder shall not be subject to any claims or defenses which the Borrower may have against a prior holder, all of which are waived as to the subsequent holder, and that all such subsequent holders shall have all rights of a holder in due course
with respect to the Borrower even though the subsequent holder may not qualify, under applicable law, absent this section, as a holder in due course. The Borrower shall retain all rights and claims which the Borrower may have against prior holders
despite any such transfers and the waiver of defenses provided in this section as to subsequent holders. Notwithstanding the foregoing, nothing herein shall represent the waiver by the Borrower of any defense based upon any payment hereof made to
any former holder hereof prior to the Borrower having been notified of the transfer of this Revolving Loan Promissory Note to any subsequent holder. 

 5. Waiver Of Protest. The Borrower, and all parties to this Revolving Loan Promissory
Note, whether maker, indorser, or guarantor, waive presentment, notice of dishonor and protest. 
 6. Extensions Of
Maturity. All parties to this Revolving Loan Promissory Note, whether maker, indorser, or guarantor, agree that the maturity of this Revolving Loan Promissory Note, or any payment due hereunder, may be extended at any time or from time to time
without releasing, discharging, or affecting the liability of such party. 
 7. Manner And Method Of Payment. All
payments called for in this Revolving Loan Promissory Note shall be made in lawful money of the United States of America. If made by check, draft, or other payment instrument, such check, draft, or other payment instrument shall represent
immediately available funds. In the holder’s discretion, any payment made by a check, draft, or other payment instrument shall not be considered to have been made until such time as the funds represented thereby have been collected by the
holder. Should any payment date fall on a non-banking day, the Borrower shall make the payment on the next succeeding banking day. 

8. Security. The obligations of the Borrower hereunder are secured by the collateral and in accordance with the terms set forth
and described in the Agreement and the other “Loan Documents,” as such term is defined in the Agreement. 
 9.
Notices. Any notice or demand required or permitted by or in connection with this Revolving Loan Promissory Note shall be given in the manner specified in the Agreement for the giving of notices under the Agreement. Notwithstanding anything
to the contrary, all notices and demands for payment from the holder actually received in writing by the Borrower shall be considered to be effective upon the receipt thereof by the Borrower regardless of the procedure or method utilized to
accomplish delivery thereof to the Borrower. 
 10. Assignability. This Revolving Loan Promissory Note may only be
assigned by the Lender or by any holder to the extent permitted by the stated terms of the Agreement. 
 11. Binding
Nature. This Revolving Loan Promissory Note shall inure to the benefit of and be enforceable by the Lender and the Lender’s successors and assigns, and shall be binding and enforceable against the Borrower and the Borrower’s successors
and assigns. 
 12. Invalidity Of Any Part. If any provision or part of any provision of this Revolving Loan Promissory
Note shall for any reason be held invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Revolving Loan Promissory Note and this Revolving Loan Promissory Note
shall be construed as if such invalid, illegal or unenforceable provision or part thereof had never been contained herein, but only to the extent of its invalidity, illegality, or unenforceability. 

13. Choice Of Law. The laws of the State of New York (“Governing State”) (excluding, however, conflict of law
principles) shall govern and be applied to determine all issues relating to this Revolving Loan Promissory Note and the rights and obligations of the parties hereto, including the validity, construction, interpretation, and enforceability of this
Revolving Loan Promissory Note and its various provisions and the consequences and legal effect of all transactions and events which resulted in the issuance of this Revolving Loan Promissory Note or which occurred or were to occur as a direct or
indirect result of this Revolving Loan Promissory Note having been executed. 
 14. Consent To Jurisdiction; Agreement As To
Venue. The Borrower irrevocably consents to the non-exclusive jurisdiction of the courts of the Governing State and of any United States District Court located in the Governing State, if a basis for federal jurisdiction exists. The Borrower
agrees that venue shall be proper in any state court selected by the “Required Lenders” (as such term is defined in he Agreement) and in any United States District Court located in the Governing State, if a basis for federal jurisdiction
exists, and waives any right to object to the maintenance of a suit in any of the state or federal courts of the Governing State on the basis of improper venue or of inconvenience of forum. 

15. Unconditional Obligations. The Borrower’s obligations pursuant to this Revolving Loan Promissory Note shall be the
absolute and unconditional duty and obligation of the Borrower and shall be independent of any rights of set-off, recoupment or counterclaim which the Borrower might otherwise have against the holder of this Revolving

 
Loan Promissory Note, and the Borrower shall pay absolutely the payments of principal, interest, fees and expenses required hereunder, free of any deductions and without abatement, diminution or
set-off. 
 16. Seal And Effective Date. This Revolving Loan Promissory Note is an instrument executed under seal and is
to be considered effective and enforceable as of the date set forth on the first page hereof, independent of the date of actual execution and delivery. 

17. Tense; Gender; Defined Terms; Section Headings. As used herein, the singular includes the plural and the plural includes the
singular. A reference to any gender also applies to any other gender. Defined terms are entirely capitalized throughout, and defined terms not specifically defined herein shall have the same meaning as provided by the terms of the Agreement. The
section headings are for convenience only and are not part of this Revolving Loan Promissory Note. 
 18. Actions Against
Holder. Any action brought by the Borrower against the holder of this Revolving Loan Promissory Note which is based, directly or indirectly, on this Revolving Loan Promissory Note or any matter in or related to this Revolving Loan Promissory
Note, including but not limited to the making of the loan evidenced hereby or the administration or collection thereof, shall be brought only in the courts of the Governing State. The Borrower agrees that any forum other than the Governing State is
an inconvenient forum and that a suit brought by the Borrower against the holder of this Revolving Loan Promissory Note in a court of any state other than the Governing State should be forthwith dismissed or transferred to a court located in the
Governing State. 
 19. Waiver Of Jury Trial. The Borrower (by execution of this Revolving Loan Promissory Note) and the
holder of this Revolving Loan Promissory Note (by acceptance of this Revolving Loan Promissory Note) agree that any suit, action, or proceeding, whether claim or counterclaim, brought or instituted by or against the Borrower or the holder of this
Revolving Loan Promissory Note, or any successor or assign of the Borrower or the holder of this Revolving Loan Promissory Note, on or with respect to this Revolving Loan Promissory Note or any of the other Loan Documents, or which in any way
relates, directly or indirectly, to the obligations of the Borrower to the holder of this Revolving Loan Promissory Note under this Revolving Loan Promissory Note or any of the other Loan Documents, or the dealings of the parties with respect
thereto, shall be tried only by a court and not by a jury. THE BORROWER AND THE HOLDER OF THIS REVOLVING LOAN PROMISSORY NOTE HEREBY EXPRESSLY WAIVE ANY RIGHT TO A TRIAL BY JURY IN ANY SUCH SUIT, ACTION, OR PROCEEDING. THE BORROWER AND THE HOLDER
EACH (A) CERTIFY THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OR ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE LENDER WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT
THE LENDER HAS BEEN INDUCED TO ACCEPT THIS REVOLVING LOAN PROMISSORY NOTE AND ENTER INTO THE LOAN DOCUMENTS TO WHICH IT IS A PARTY BY, AMONG OTHER THINGS, THE WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

[SIGNATURES BEGIN ON THE FOLLOWING PAGE] 
  

 Signature Page To Revolving Loan Promissory Note: 

IN WITNESS WHEREOF, the Borrower has duly executed this Revolving Loan Promissory Note under seal as of the date first above written.

  

													
	WITNESS/ATTEST:	 		 		 	THE BORROWER:
				
		 		 		 	LECROY CORPORATION,
		 		 		 	A Delaware Corporation
						
	  
	 		 		 	By:	 	 /s/ Sean B. O’Connor
	 	(SEAL)
		 		 		 		 	Name:	 	Sean B. O’Connor
		 		 		 		 	Title	 	Vice President, Finance, Chief Financial Officer, Secretary and Treasurer

 Exhibit D 

 

					
	Buffalo, New York	 		 	$5,000,000.00

 July, 29 2010 

SWINGLINE LOAN PROMISSORY NOTE 

FOR VALUE RECEIVED, the undersigned LECROY CORPORATION, a Delaware corporation (the “Borrower), promises to pay to the order
of MANUFACTURERS AND TRADERS TRUST COMPANY, a New York Banking Corporation (“Swingline Lender”), at 1 M&T Plaza, Buffalo, New York 14203, or at such other places as the holder of this Swingline Loan Promissory Note may from time to
time designate, the principal sum of Five Million Dollars ($5,000,000.00), or the unpaid portion thereof as has been advanced to the Borrower for the account of the Swingline Lender as a “Swingline Loan,” and has not been paid, as such
term is defined and described in the Amended and Restated Credit Agreement dated to be effective as of even date herewith (as the same may be amended, modified, extended, renewed, restated, supplemented or replaced from time to time, the
“Agreement”) between the Borrower, Manufacturers and Traders Trust Company in its capacity as “Agent”, the Swingline Lender, the “Lenders,” and the “Issuing Lender,” as such terms are defined in the Agreement,
together with interest on the unpaid principal balance from time to time outstanding at the rate or rates specified in the Agreement until paid in full and any and all other sums which may be owing to the holder of this Swingline Loan Promissory
Note by the Borrower pursuant to this Swingline Loan Promissory Note, on or before the “Swingline Maturity Date,” as such term is defined in the Agreement, or such earlier date as required by the Agreement. This Swingline Loan Promissory
Note is the “Swingline Note,” as such term is defined in the Agreement. The following terms shall apply to this Swingline Loan Promissory Note. 

1. Interest Rates, Calculation Of Interest, Obligations And Terms Of Repayment; And Rights Of Prepayment. The Borrower agrees to
pay principal and all interest which accrues on the unpaid balance of this Swingline Loan Promissory Note from the date of this Swingline Loan Promissory Note until such time as the obligations evidenced hereunder have been paid in full, at the
times and in accordance with the covenants, procedures and requirements set forth in the Agreement. Interest shall accrue, be payable, and shall be calculated as provided for in the Agreement. The Borrower further promises to pay all default
interest, late payment charges, fees, and other expenses, costs and payment obligations as are required by the Agreement to be made by the Borrower to or for the account of the Swingline Lender. The principal balance of this Swingline Loan
Promissory Note, together with all other unpaid interest, fees, expenses and other sums due to the holder, shall be paid in full on or before the Swingline Maturity Date. The Borrower’s right to prepay any or all sums due pursuant to this
Swingline Loan Promissory Note shall be governed by the terms and conditions of the Agreement. 
 2. Interest Rate After
Judgment. If judgment is entered against the Borrower on this Swingline Loan Promissory Note, the amount of the judgment entered (which may include principal, interest, fees, and costs) shall bear interest at the higher of the maximum interest
rate imposed upon judgments by applicable law or the default interest rate set forth in the Agreement, to be determined on the date of the entry of the judgment. 

3. Expenses Of Collection And Attorneys’ Fees. Should this Swingline Loan Promissory Note be referred to an attorney for
collection, whether or not suit is filed, the Borrower shall pay all of the holder’s costs, fees and expenses, including reasonable attorneys’ fees, resulting from such referral. 

4. Waiver Of Defenses. In the event any one or more holders of this Swingline Loan Promissory Note transfer this Swingline Loan
Promissory Note for value, the Borrower agrees that, except as otherwise provided herein, all subsequent holders of this Swingline Loan Promissory Note who take for value and without actual knowledge of a claim or defense of the Borrower against a
prior holder shall not be subject to any claims or defenses which the Borrower may have against a prior holder, all of which are waived as to the subsequent holder, and that all such subsequent holders shall have all rights of a holder in due course
with respect to the Borrower even though the subsequent holder may not qualify, under applicable law, absent this section, as a holder in due course. The Borrower shall retain all rights and claims which the Borrower may have against prior holders
despite any such transfers and the waiver of defenses provided in this section as to subsequent holders. Notwithstanding the foregoing, nothing herein shall represent the waiver by the 

 
Borrower of any defense based upon any payment hereof made to any former holder hereof prior to the Borrower having been notified of the transfer of this Swingline Loan Promissory Note to any
subsequent holder. 
 5. Waiver Of Protest. The Borrower, and all parties to this Swingline Loan Promissory Note, whether
maker, indorser, or guarantor, waive presentment, notice of dishonor and protest. 
 6. Extensions Of Maturity. All
parties to this Swingline Loan Promissory Note, whether maker, indorser, or guarantor, agree that the maturity of this Swingline Loan Promissory Note, or any payment due hereunder, may be extended at any time or from time to time without releasing,
discharging, or affecting the liability of such party. 
 7. Manner And Method Of Payment. All payments called for in
this Swingline Loan Promissory Note shall be made in lawful money of the United States of America. If made by check, draft, or other payment instrument, such check, draft, or other payment instrument shall represent immediately available funds. In
the holder’s discretion, any payment made by a check, draft, or other payment instrument shall not be considered to have been made until such time as the funds represented thereby have been collected by the holder. Should any payment date fall
on a non-banking day, the Borrower shall make the payment on the next succeeding banking day. 
 8. Security. The
obligations of the Borrower hereunder are secured by the collateral and in accordance with the terms set forth and described in the Agreement and the other “Loan Documents,” as such term is defined in the Agreement. 

9. Notices. Any notice or demand required or permitted by or in connection with this Swingline Loan Promissory Note shall be given
in the manner specified in the Agreement for the giving of notices under the Agreement. Notwithstanding anything to the contrary, all notices and demands for payment from the holder actually received in writing by the Borrower shall be considered to
be effective upon the receipt thereof by the Borrower regardless of the procedure or method utilized to accomplish delivery thereof to the Borrower. 

10. Assignability. This Swingline Loan Promissory Note may only be assigned by the Swingline Lender or by any holder to the extent
permitted by the stated terms of the Agreement. 
 11. Binding Nature. This Swingline Loan Promissory Note shall inure to
the benefit of and be enforceable by the Swingline Lender and the Swingline Lender’s successors and assigns, and shall be binding and enforceable against the Borrower and the Borrower’s successors and assigns. 

12. Invalidity Of Any Part. If any provision or part of any provision of this Swingline Loan Promissory Note shall for any reason
be held invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Swingline Loan Promissory Note and this Swingline Loan Promissory Note shall be construed as if
such invalid, illegal or unenforceable provision or part thereof had never been contained herein, but only to the extent of its invalidity, illegality, or unenforceability. 

13. Choice Of Law. The laws of the State of New York (“Governing State”) (excluding, however, conflict of law
principles) shall govern and be applied to determine all issues relating to this Swingline Loan Promissory Note and the rights and obligations of the parties hereto, including the validity, construction, interpretation, and enforceability of this
Swingline Loan Promissory Note and its various provisions and the consequences and legal effect of all transactions and events which resulted in the issuance of this Swingline Loan Promissory Note or which occurred or were to occur as a direct or
indirect result of this Swingline Loan Promissory Note having been executed. 
 14. Consent To Jurisdiction; Agreement As To
Venue. The Borrower irrevocably consents to the non-exclusive jurisdiction of the courts of the Governing State and of any United States District Court located in the Governing State, if a basis for federal jurisdiction exists. The Borrower
agrees that venue shall be proper in any state court selected by the “Swingline Lender” and in any United States District Court located in the Governing State, if a basis for federal jurisdiction exists, and waives any right to object to
the maintenance of a suit in any of the state or federal courts of the Governing State on the basis of improper venue or of inconvenience of forum. 

15. Unconditional Obligations. The Borrower’s obligations pursuant to this Swingline Loan Promissory Note shall be the
absolute and unconditional duty and obligation of the Borrower and shall be independent of any rights 
  

 2 

 
of set-off, recoupment or counterclaim which the Borrower might otherwise have against the holder of this Swingline Loan Promissory Note, and the Borrower shall pay absolutely the payments of
principal, interest, fees and expenses required hereunder, free of any deductions and without abatement, diminution or set-off. 

16. Seal And Effective Date. This Swingline Loan Promissory Note is an instrument executed under seal and is to be considered
effective and enforceable as of the date set forth on the first page hereof, independent of the date of actual execution and delivery. 

17. Tense; Gender; Defined Terms; Section Headings. As used herein, the singular includes the plural and the plural includes the
singular. A reference to any gender also applies to any other gender. Defined terms are entirely capitalized throughout, and defined terms not specifically defined herein shall have the same meaning as provided by the terms of the Agreement. The
section headings are for convenience only and are not part of this Swingline Loan Promissory Note. 
 18. Actions Against
Holder. Any action brought by the Borrower against the holder of this Swingline Loan Promissory Note which is based, directly or indirectly, on this Swingline Loan Promissory Note or any matter in or related to this Swingline Loan Promissory
Note, including but not limited to the making of the loan evidenced hereby or the administration or collection thereof, shall be brought only in the courts of the Governing State. The Borrower agrees that any forum other than the Governing State is
an inconvenient forum and that a suit brought by the Borrower against the holder of this Swingline Loan Promissory Note in a court of any state other than the Governing State should be forthwith dismissed or transferred to a court located in the
Governing State. 
 19. Waiver Of Jury Trial. The Borrower (by execution of this Swingline Loan Promissory Note) and the
holder of this Swingline Loan Promissory Note (by acceptance of this Swingline Loan Promissory Note) agree that any suit, action, or proceeding, whether claim or counterclaim, brought or instituted by or against the Borrower or the holder of this
Swingline Loan Promissory Note, or any successor or assign of the Borrower or the holder of this Swingline Loan Promissory Note, on or with respect to this Swingline Loan Promissory Note or any of the other Loan Documents, or which in any way
relates, directly or indirectly, to the obligations of the Borrower to the holder of this Swingline Loan Promissory Note under this Swingline Loan Promissory Note or any of the other Loan Documents, or the dealings of the parties with respect
thereto, shall be tried only by a court and not by a jury. THE BORROWER AND THE HOLDER OF THIS REVOLVING LOAN PROMISSORY NOTE HEREBY EXPRESSLY WAIVE ANY RIGHT TO A TRIAL BY JURY IN ANY SUCH SUIT, ACTION, OR PROCEEDING. THE BORROWER AND THE HOLDER
EACH (A) CERTIFY THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OR ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE LENDER WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT
THE LENDER HAS BEEN INDUCED TO ACCEPT THIS SWINGLINE LOAN PROMISSORY NOTE AND ENTER INTO THE LOAN DOCUMENTS TO WHICH IT IS A PARTY BY, AMONG OTHER THINGS, THE WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

[SIGNATURES BEGIN ON THE FOLLOWING PAGE] 
  

 3 

 Signature Page To Swingline Loan Promissory Note: 

IN WITNESS WHEREOF, the Borrower has duly executed this Swingline Loan Promissory Note under seal as of the date first above written.

  

													
	WITNESS/ATTEST:	 		 		 	THE BORROWER:
				
		 		 		 	LECROY CORPORATION,
		 		 		 	A Delaware Corporation
						
	  
	 		 		 	By:	 	 /s/ Sean B. O’Connor
	 	(SEAL)
		 		 		 		 	Name:	 	Sean B. O’Connor
		 		 		 		 	Title	 	Vice President, Finance, Chief Financial Officer, Secretary and Treasurer

 

 4 

 TRADEMARK SECURITY AGREEMENT 

THIS TRADEMARK SECURITY AGREEMENT (“Agreement”) is dated to be effective as of July 29, 2010, by and between LECROY
CORPORATION, a Delaware corporation (“Pledgor”), to and for the benefit of MANUFACTURERS AND TRADERS TRUST COMPANY, a New York banking corporation, in its capacity as Agent (in such capacity “Agent”), and the other “Secured
Parties” (as such term is defined below). 
 Whereas, pursuant to and upon the terms and subject to the conditions set
forth in the Amended and Restated Credit Agreement dated to be effective as of even date herewith (as the same may be amended, modified, extended, renewed, restated, supplemented, or replaced from time to time, “Credit Agreement,”) by and
between the Pledgor and the Secured Parties, the “Lenders,” the “Swingline Lender,” and the “Issuing Lender” (as such terms are defined below) have severally agreed to provide various credit accommodations to or for the
benefit of the Pledgor. 
 Pursuant to the Security Agreement dated to be effective as of even date herewith (as the same may be
amended, modified, extended, renewed, restated, supplemented, or replaced from time to time, “Security Agreement”), by and between the Pledgor and the Agent, the Pledgor has granted to the Agent for the ratable benefit of the Secured
Parties a continuing security interest in all of the Pledgor’s tangible and intangible assets and properties, whether presently owned or hereafter acquired and wherever located. 

Whereas, it is a condition precedent to the agreements of the Secured Parties under the Credit Agreement that the Pledgor, among other
things, shall have executed and delivered this Agreement to further evidence and facilitate recordation with the United States Patent and Trademark Office of the security interests of the Secured Parties in the “Trademarks” (as such term
is defined below). 
 NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, the Pledgor hereby agrees as follows: 
 Section 1. Defined
Terms. As used in this Agreement, the terms set forth in this Section 1 have the meanings set forth below, unless the specific context of this Agreement clearly requires a different meaning. Any capitalized terms used herein without
definition which are defined in, or defined by reference to the Credit Agreement shall have the meanings thereby assigned. The singular use of any defined term includes the plural and the plural use includes the singular. 

Section 1.1. “Collateral” shall have the same meaning assigned thereto in Section 2 of this Agreement.

 Section 1.2. “Issuing Lender” means Manufacturers and Traders Trust Company, a New York Banking
corporation, or its successors, in its capacity as issuer of Letters of Credit under the Credit Agreement. 
 Section 1.3.
“Lenders” means collectively each lender from time to time a party to the Credit Agreement (in its capacity as a “Lender”). 

Section 1.4. “Obligations” shall have the same meaning assigned thereto in the Credit Agreement. 

Section 1.5. “Secured Parties” means, collectively, the Agent, the Lenders, the Swingline Lender, and the Issuing
Lender. 

 Section 1.6. “Swingline Lender” means Manufacturers and Traders Trust
Company, a New York Banking corporation, or its successors, in its capacity as provider of Swingline Loans under the Credit Agreement. 

Section 1.7. “Trademarks” means all right, title and interest of the Pledgor, whether now owned or existing or
hereafter acquired or arising, in, to, under and by virtue of all trademarks, trade names, corporate names, partnership names, company names, business names, fictitious business names, trade styles, service marks, package or product designs, trade
dress, logos, other source of business identifiers, designs, and general intangibles of a like nature, and prints and labels on which any of the foregoing have appeared or appear, now existing or hereafter adopted or acquired, and all registrations
and recordings thereof, and all applications for any of the foregoing, including, without limitation, registrations and recordings thereof and applications for any of the foregoing in the United States Patent and Trademark Office, together with:
(a) all goodwill of the business to which any of the foregoing relates; (b) all renewals thereof; (c) all present and future rights of the Pledgor under all present and future license agreements relating to any of the foregoing,
whether the Pledgor is licensee or licensor thereunder; (d) all income, royalties, damages and payments now or hereafter due or payable under any of the foregoing or with respect thereto, including, without limitation, damages and payments for
past, present or future infringements thereof; (e) all present and future claims, causes of action and rights to sue for past, present or future infringements thereof; and (f) all rights corresponding thereto throughout the world.
“Trademarks,” as defined above, shall include, without limitation, all of the United States trademarks and trademark applications listed on Exhibit A attached hereto and incorporated herein by reference. 

Section 2. Grant Of Security Interest. As security for the complete and timely payment, performance and satisfaction of all
of the Obligations and in order to induce the Secured Parties to enter into the Credit Agreement and provide the respective credit accommodations set forth in the Credit Agreement, the Pledgor hereby assigns as collateral, mortgages, pledges, and
hypothecates to the Agent, and hereby grants to the Agent, for the ratable benefit of the Secured Parties, and hereby assigns as collateral, mortgages, pledges, and hypothecates to the Secured Parties, and hereby grants to the Secured Parties, a
security interest in, all of the Pledgor’s right, title and interest in, to and under the following, whether now owned or existing or hereafter acquired (all of which being hereinafter collectively called the “Collateral”):

  

	 	a.	all Trademarks; 

  

	 	b.	all general intangibles, contract rights, documents, instruments, and other rights relating to or arising from the Trademarks; 

 

	 	c.	to the extent not otherwise included, all proceeds and products of any and all of the foregoing; and 

 

	 	d.	all records and writings relating or pertaining to any of the above. 

Section 3. Representations And Warranties. The Pledgor hereby represents and warrants that: 

3.1 Title; No Other Liens. Except for the liens, pledges and security interests granted to the Agent for the ratable benefit of
the Secured Parties, and to the Secured Parties, pursuant to this Agreement, the Pledgor owns each item of the Collateral free and clear of any and all liens or claims of others. To the best of the Pledgor’s knowledge, no security agreement,
financing statement or other public notice with respect to all or any part of the Collateral is on file or of record in any public office, except such as may have been filed in favor of the Agent or any of the Secured Parties pursuant to this
Agreement. 
 3.2 Perfected First Priority Liens. Upon the filing and acceptance for recordation in the United States
Patent and Trademark Office of this Agreement, the security interests and liens granted pursuant to this Agreement will constitute perfected security interests and liens in and to the Collateral in favor of the

 
Agent, for the ratable benefit of the Secured Parties and in favor of the Secured Parties, which are prior to all other liens in or to the Collateral in existence on the date hereof and which are
enforceable as such against all creditors of and purchasers from the Pledgor. 
 3.3 Trademarks. Exhibit A hereto
includes all trademark applications and registrations owned by the Pledgor as of the date hereof. To the best of the Pledgor’s knowledge, each such trademark application and registration is, to the extent applicable, valid, subsisting,
unexpired, enforceable and has not been abandoned. Except as set forth in such Exhibit A or in the ordinary course of the Pledgor’s business, none of such trademark applications and registrations is the subject of any licensing or franchise
agreement. To the best of the Pledgor’s knowledge, no holding, decision or judgment has been rendered by any Governmental Authority which would limit, cancel or question the validity of any such trademark applications or registration. To the
best of the Pledgor’s knowledge, no action or proceeding is pending: (a) seeking to limit, cancel or question the validity of any such trademark application or registration; or (b) which, if adversely determined, would have a material
adverse effect on the value of any such trademark application or registration. 
 3.4 Chief Executive Office. The
Pledgor’s chief executive office is located at 700 Chestnut Ridge Road, Chestnut Ridge, New York 10977. 
 Section 4.
Covenants. The Pledgor covenants and agrees for the benefit of the Secured Parties that, from and after the Date of this Agreement until all of the Obligations have been paid in full and there exists no contingent or noncontingent commitment
which could give rise to any Obligations: 
 Section 4.1. The Pledgor, consistent with good business judgment, shall
(either itself or through licensees): (a) continue to use each Trademark with respect to each class of goods to which such Trademark relates so as to maintain such Trademark in full force, free from any claim of abandonment for non-use;
(b) maintain as in the past the quality of products and services offered under each Trademark; (c) employ each Trademark with the notice of registration, if appropriate; (d) not knowingly adopt or use any mark which is confusingly
similar to, or a colorable imitation of, any third party trademark; and (e) not do any act, or omit to do any act, whereby any Trademark may become invalidated. The Pledgor will not, without the Agent’s prior written consent, enter into
any agreement (for example, a license agreement) which is inconsistent with the Pledgor’s obligations under the Credit Agreement, this Agreement or any of the other Loan Documents, and the Pledgor further agrees that it will not take any
action, or permit any action to be taken by others subject to its control, including licensees, or fail to take any action, which would materially adversely affect the validity or enforcement of the rights transferred to the Agent and other Secured
Parties pursuant to this Agreement, the Security Agreement, or any other Loan Document. 
 Section 4.2. In each case in
which, after the date of this Agreement, the Pledgor shall: (a) obtain rights to any Trademarks not listed on Exhibit A hereto or to any licenses relating to any such Trademarks; or (b) become entitled to the benefit of any Trademark not
listed on Exhibit A hereto or to the benefit of any license renewal, the security interest of the Secured Parties granted hereunder shall automatically attach thereto. The Pledgor shall give the Agent prompt written notice of any trademark
applications or registrations not listed on Exhibit A to which the Pledgor has obtained the rights, provided, however, so long as no Default or Event of Default has occurred and is continuing, the Pledgor may provide such notice to the Agent
quarterly, within forty-five (45) days after the end of each fiscal quarter of each Fiscal Year, and such notice shall include all trademark applications and registrations occurring within such fiscal quarter. Promptly after request by the
Agent and at the Pledgor’s expense, the Pledgor shall execute and deliver to the Agent, in form and content reasonably satisfactory to the Agent and in proper form for filing in the United States Patent and Trademark Office, such security
agreements, assignments or other documents as may be reasonably required by the Agent in order to reflect of record the Secured Parties’ interest therein pursuant to this Agreement. The Pledgor further agrees, at its expense, promptly to do,
make, execute and deliver all such additional and further acts, things, deeds, assurances, instruments and documents as the Agent may reasonably request from time to time to vest in and assure to the Secured Parties their rights under this Agreement
or in any of the Collateral, and the Pledgor hereby constitutes the Agent its attorney-in-fact to execute and file all 

 
such additional instruments and documents for the foregoing purposes, all lawful acts of such attorney being hereby ratified and confirmed; such power, being coupled with an interest, is
irrevocable until the Obligations have been satisfied in full and there exists no contingent or noncontingent commitment which could give rise to any Obligations. 

Section 4.3. The Pledgor will promptly notify the Secured Parties if it knows, or has reason to know, that any Trademark application
or registration to which it has rights may become abandoned or dedicated, or of any adverse determination or development (including, without limitation, the institution of, or any such determination or development in, any proceeding in the United
States Patent and Trademark Office or any state or federal court or tribunal) regarding the Pledgor’s ownership of any such Trademark or its right to register the same or to keep and maintain the same. 

Section 4.4. Consistent with good business judgment, the Pledgor will maintain, preserve and protect all of its Trademark
applications and registrations free of any conflict with the rights of any other Person. Without limitation of the foregoing, the Pledgor shall, consistent with good business judgment, have the duty to: (i) pay all taxes, fees or other amounts
necessary to maintain in full force and effect all of the Trademarks; (ii) prosecute diligently any trademark application relating to any Trademarks pending as of the date hereof or thereafter; (iii) make application on any Trademarks
which have not been registered but which may be registered; and (iv) preserve and maintain all rights in applications and registrations of the Trademarks. Any expenses incurred in connection with such applications shall be paid by the Pledgor,
and none of the Secured Parties shall have any obligation or liability to pay any taxes or fees, nor shall any of the Secured Parties have any duties in connection with applications or maintenance of rights in any Trademarks. 

Section 4.5. Except as permitted under the terms and conditions of the Credit Agreement, without the Agent’s prior written
consent, the Pledgor shall not sell or assign its interest in, or grant any license under, any of the Trademarks. 

Section 4.6. In the event that any Trademark included in the Collateral is infringed by a third party, the Pledgor shall promptly
take appropriate action consistent with good business judgment which may include the sending of a cease and desist letter, suing for infringement, seeking injunctive relief or other settlement measures where appropriate, recovering any and all
damages for such infringement or taking such other actions as the Pledgor shall reasonably deem appropriate under the circumstances to protect such Trademark. The Pledgor shall notify the Secured Parties promptly after it learns of such infringement
and shall provide all information as the Secured Parties may require as to what actions Pledgor has taken or proposes to take with respect to same. 

Section 5. Agent’s Appointment As Attorney-In-Fact. 

Section 5.1. Powers. The Pledgor hereby irrevocably constitutes and appoints the Agent and any officer or agent thereof, with
full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of the Pledgor and in the name of the Pledgor or in its own name, from time to time in the Agent’s discretion
after the occurrence and during the continuance of any Event of Default, for the purpose of carrying out the terms of this Agreement, to take any and all appropriate action and to execute any and all documents and instruments which may be necessary
or desirable to accomplish the purposes of this Agreement, and, without limiting the generality of the foregoing, the Pledgor hereby gives the Agent the power and right, on behalf of the Pledgor, without notice to or assent by the Pledgor, to do the
following: 
 a. to pay or discharge taxes and liens levied or placed on or threatened against the Collateral; and 

b. without limitation of rights granted to the Agent under other provisions of this Agreement: (i) to ask, demand, sue for,
compromise, settle and collect and receive payment of and receipt for, 

 
any and all moneys, claims and other amounts due or to become due at any time in respect of or arising out of any Collateral; (ii) to commence and prosecute any suits, actions or proceedings
at law or in equity in any court of competent jurisdiction to collect the Collateral or any thereof and to enforce any other right in respect of any Collateral; (iii) to defend any suit, action or proceeding brought against the Pledgor with
respect to any Collateral; (iv) to settle, compromise or adjust any suit, action or proceeding described in clause (ii) or (iii) above and, in connection therewith, to give such discharges or releases as the Agent may deem
appropriate; (v) to assign, license or otherwise transfer any Trademark or interests therein or thereunder for such term or terms, on such conditions, and in such manner, as the Agent shall in its sole discretion determine; and
(vi) generally, to sell, transfer, assign, license, pledge and make any agreement with respect to or otherwise deal with any of the Collateral as fully and completely as though the Agent were the absolute owner thereof for all purposes, and to
do, at the Agent’s option and the Pledgor’s expense, at any time, or from time to time, all acts and things which the Agent deems necessary to protect, preserve or realize upon the Collateral and the liens of the Secured Parties thereon
and to effect the intent of this Agreement, all as fully and effectively as the Pledgor might do. The Pledgor hereby ratifies all that said attorneys-in-fact shall lawfully do or cause to be done by virtue hereof. This power of attorney is a power
coupled with an interest and shall be irrevocable. 
 Section 5.2. Other Powers. The Pledgor authorizes the Agent
and each other Secured Party, at any time and from time to time, to execute, in connection with any sale provided for in Section 8 hereof, any endorsements, assignments or other instruments of conveyance or transfer with respect to the
Collateral. 
 Section 5.3. No Duty. The powers conferred on the Agent and the other Secured Parties hereunder are
solely to protect the interests of the Secured Parties in the Collateral and shall not impose any duty upon any of them to exercise any such powers. The Secured Parties shall be accountable only for amounts that they actually receive as a result of
the exercise of such powers, and neither they nor any of their officers, directors, employees, attorneys or agents shall be responsible to the Pledgor for any act or failure to act hereunder, except for their own gross negligence or willful
misconduct. 
 Section 6. Performance By Agent Of Pledgor’s Obligations. If the Pledgor fails to perform or
comply with any of its agreements contained herein and any of the Secured Parties, as provided for by the terms of this Agreement, shall itself perform or comply, or otherwise cause performance or compliance, with such agreement, the Pledgor shall
pay to the Agent the expenses of the Secured Parties incurred in connection with such performance or compliance, together with interest thereon which shall accrue at the highest rate of interest authorized by the Loan Documents upon the occurrence
of an Event of Default. 
 Section 7. Remedies. If an Event of Default shall occur and be continuing: 

a. All cash, checks, drafts, money orders and other items of payment constituting Collateral, or collections or other proceeds of
Collateral, received by the Pledgor shall be held by the Pledgor in trust for the Secured Parties, shall be segregated from other funds of the Pledgor and shall forthwith upon receipt by the Pledgor, be turned over to the Agent, in the same form as
received by the Pledgor (duly endorsed by the Pledgor to the Agent if required), and any and all such collections and other proceeds of Collateral so received by the Agent (whether from the Pledgor or otherwise) may, in the sole discretion of the
Agent, be held by the Agent as collateral security for, and/or then or at any time thereafter applied in whole or in part by the Agent against, such of the Obligations (whether matured or unmatured), and in such order, as is set forth in the Credit
Agreement. 
 b. The Agent may take exclusive possession of any or all of the Collateral from time to time and/or place a
custodian in exclusive possession of any or all of the Collateral from time to time and, so far as the Pledgor may give authority therefor, enter upon any premises on which any of the Collateral may be situated and remove the same therefrom, the
Pledgor hereby waiving, to the extent permitted by applicable law, any and all rights to prior notice and to judicial hearing with respect to repossession of Collateral, and/or 

 
require the Pledgor, at the Pledgor’s expense, to assemble and deliver any or all of the Collateral to such place or places as the Agent may reasonably request. 

c. At the Pledgor’s expense, continue or complete, or cause to be continued or completed, performance of obligations of the Pledgor
under any accounts, chattel paper, contracts, instruments or general intangibles, and, for such purpose, use, operate, manage, control and exercise all rights of the Pledgor relating to, any or all of the Collateral, and collect all income and
revenues therefrom. 
 d. The Agent may exercise, in addition to all other rights and remedies granted to the Agent or the
Secured Parties in this Agreement and in any other Loan Document and in addition to all other rights and remedies available to the Agent or the Secured Parties under applicable law, all rights and remedies of a secured party under the Uniform
Commercial Code, in effect from time to time in the State of New York. Without limiting the generality of the foregoing, the Agent, without demand of performance or other demand, presentment, protest, advertisement or notice of any kind (except
any notice required by law) to or upon the Pledgor or any other Person (all and each of which demands, defenses, advertisements and notices are hereby waived), may forthwith sell, liquidate, license, assign, give options to purchase, or otherwise
dispose of and realize upon the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public or private sale or sales, at any exchange, broker’s board or office of the Agent or any Secured Party, or
at any or all of the places of business of the Pledgor, or elsewhere, upon such terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk.
The Agent or any Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold, free of any right or
equity of redemption in the Pledgor, which right or equity is hereby waived and released. The Agent shall apply the net proceeds of any such sale, license, assignment or other disposition of or realization upon any of the Collateral, after deducting
all reasonable costs and expenses of every kind incurred therein or incidental to repossession, holding, preparing for sale, license, assignment or other disposition, selling, licensing, assigning or otherwise disposing of any of the Collateral or
in any way relating to the Collateral or the rights of the Agent or any Secured Party hereunder, including, without limitation, reasonable attorneys’ fees and disbursements, to the payment in whole or in part of such of the Obligations (whether
matured or unmatured), and in such order, as is set forth in the Credit Agreement, and only after such application and after the payment by the Agent of any other amount required by any provision of law, need the Agent account for the surplus, if
any, to the Pledgor. In no event shall the Pledgor be credited with any part of the proceeds of liquidation, sale, assignment, licensing or other disposition of any of the Collateral until final payment thereon has been received by the Agent in
immediately available funds. To the extent permitted by applicable law, the Pledgor waives all claims, damages and demands it may acquire against the Agent or any Secured Party arising out of the exercise by any of them of any rights hereunder. If
any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed commercially reasonable and proper if given at least five (5) Business Days before such sale or other disposition. The
Pledgor shall remain liable for any deficiency if the proceeds of any sale or other disposition of the Collateral are insufficient to pay in full the Obligations and all costs and expenses, including reasonable attorneys’ fees and
disbursements, paid or incurred by any of the Secured Parties in collecting any such deficiency. 
 Section 8.
Proceeds. If an Event of Default shall have occurred and be continuing, any and all proceeds received by the Agent (whether from the Pledgor or otherwise) may, in the sole discretion of the Agent, be held by the Agent, for the ratable benefit
of the Secured Parties, as collateral security for, and/or then or at any time thereafter applied in whole or in part by the Agent against, such of the Obligations (whether matured or unmatured) in accordance with the Credit Agreement. 

Section 9. Expenses. The Pledgor agrees to pay to the Agent for the benefit of the Secured Parties upon demand from time to
time the amount of all expenses, including reasonable attorneys’ fees and disbursements, paid or incurred by any of the Secured Parties in exercising or enforcing any of their rights 

 
under this Agreement, recording this Agreement or any other document in public offices, or any other fees or disbursements in connection with protecting, preserving, or maintaining the
Trademarks. 
 Section 10. Limitation on Duties Regarding Preservation of Collateral. The sole duty of any of the
Secured Parties with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code (in effect from time to time in the State of New York) or
otherwise, shall be to deal with it in the same manner as such Secured Party deals with similar property for its own account. None of the Secured Parties, nor any of their respective directors, officers, employees, attorneys or agents, shall be
liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Pledgor or otherwise.

 Section 11. Patent And Trademark Office And Third Parties May Rely Upon Pledgor’s Authorizations To Agent.
If the Secured Parties shall elect to exercise any of their rights hereunder, the United States Patent and Trademark Office and all other persons and entities shall have the right to rely upon the Agent’s written statement of the rights of the
Agent on behalf of the Secured Parties to sell, assign, license and transfer the Trademarks and the Pledgor hereby irrevocably and unconditionally authorizes the United States Patent and Trademark Office and all other persons and entities to
recognize such sale by the Agent for the benefit of the Secured Parties either in name of the Pledgor or the Secured Parties without the necessity or obligation of the United States Patent and Trademark Office or any other persons and entities to
ascertain the existence of any default by the Pledgor under the Loan Documents, or any other fact or matter relating to the entitlement of the Agent or the other Secured Parties to exercise their rights hereunder. 

Section 12. Powers Coupled With An Interest. All authorizations and agencies herein contained with respect to the Collateral
are irrevocable and powers coupled with an interest. 
 Section 13. Waiver of Trial By Jury. THE PLEDGOR, BY ITS
EXECUTION OF THIS AGREEMENT, AND EACH OF THE SECURED PARTIES, BY ITS ACCEPTANCE OF THIS AGREEMENT, HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING
DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

Section 14. Additional Waivers. The Pledgor hereby waives, to the extent the same may be waived under applicable law:
(a) notice of acceptance of this Agreement by the Secured Parties; (b) all claims, causes of action and rights of the Pledgor against any of the Secured Parties on account of actions taken or not taken by any of them in the exercise of any
of their rights or remedies under this Agreement or under Law, provided that the same did not arise from their gross negligence or willful misconduct; and (c) all claims and causes of action of the Pledgor against any of the Secured Parties for
punitive, exemplary or other non-compensatory damages, unless such claims arose on account of willful misconduct. 

Section 15. Severability. Any provisions of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as
to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. 

 Section 16. Successors And Assigns. The terms, covenants and conditions
contained in this Agreement shall inure to the benefit of the Pledgor and each of the Secured Parties and their respective successors and assigns, except that the Pledgor may not assign or transfer any of its rights or obligations under this
Agreement without the written consent of the Required Lenders. 
 Section 17. Paragraph Headings. The paragraph
headings used in this Agreement are for convenience of reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 

Section 18. No Waiver; Cumulative Remedies. None of the Secured Parties shall by any act (except by a written instrument
pursuant to Section 19 hereof), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy under this Agreement or any of the other Loan Documents or to have acquiesced in any Default or Event of Default under the
Credit Agreement or in any breach of any of the terms and conditions hereof. No failure to exercise, nor any delay in exercising, on the part of any of the Secured Parties, any right, power or privilege hereunder shall operate as a waiver thereof.
No single or partial exercise of any right, power or privilege hereunder shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege. A waiver by any of the Secured Parties of any right or remedy
hereunder on any one occasion shall not be construed as a bar to any right or remedy which any of the Secured Parties would otherwise have on any future occasion. The rights and remedies herein provided are cumulative, may be exercised singly or
concurrently and are not exclusive of any rights or remedies provided in any other Loan Document or by law. 
 Section 19.
Waivers and Amendments; Governing Law. None of the terms or provisions of this Agreement may be waived, amended, supplemented or otherwise modified except by a written instrument executed by the Pledgor and the Agent, provided that any
provision of this Agreement may be waived by the Agent with the consent of the Required Lenders in a written letter or agreement executed by the Agent. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PLEDGOR AND EACH OF THE SECURED PARTIES
UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK, EXCLUSIVE OF PRINCIPLES OF CONFLICTS OF LAWS. 

Section 20. Notices. All notices, requests and demands to or upon the Pledgor or any of the Secured Parties to be effective
shall be in writing, and, unless otherwise expressly provided herein, shall be given in the manner specified in the Credit Agreement for the giving of notices under the Credit Agreement. Notwithstanding anything to the contrary, all notices,
requests, and demands upon the Pledgor from any of the Secured Parties actually received in writing by the Pledgor shall be considered to be effective upon the receipt thereof by the Pledgor regardless of the procedure or method utilized to
accomplish delivery thereof to the Pledgor. 
 Section 21. Authority of Agent. The Pledgor acknowledges that the
rights and responsibilities of the Agent under this Agreement with respect to any action taken or not taken by the Agent or the exercise or nonexercise by the Agent of any option, right, request, judgment or other right or remedy provided for herein
or resulting or arising out of this Agreement shall, as among the Agent, the Lenders, the Swingline Lender and the Issuing Lender, be governed by the Credit Agreement and by such other agreements with respect thereto as may exist from time to time
among them, but, as between the Agent and the Pledgor, the Agent shall be conclusively presumed to be acting as Agent for the Lenders, the Swingline Lender, and the Issuing Lender with full and valid authority so to act or refrain from acting, and
the Pledgor shall not be under any obligation, or entitlement, to make any inquiry respecting such authority. 
 [Signatures
Begin on the Following Page] 
  

 Signature Page to Trademark Security Agreement: 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written with the specific intention of creating an
instrument under seal. 
  

													
	WITNESS/ATTEST:	 		 		 	PLEDGOR:
				
		 		 		 	LECROY CORPORATION
						
	  
	 		 		 	By:	 	 /s/ Sean B. O’Connor
	 	(SEAL)
		 		 		 		 	Name:	 	Sean B. O’Connor
		 		 		 		 	Title:	 	Vice President, Finance, Chief Financial Officer, Secretary and Treasurer

 

													
	WITNESS/ATTEST:	 		 		 	AGENT:
				
		 		 		 	 MANUFACTURERS AND TRADERS TRUST

COMPANY, A New York Banking Corporation,

		 		 		 	In Its Capacity As Agent
						
	  
	 		 		 	By:	 	  
	 	(SEAL)
		 		 		 		 	Name:	 	  
	 	
		 		 		 		 	Title:	 	  
	 	

 Exhibit A 

Schedule of Trademarks 
  

											
	 Mark
	  	 Filed
	  	 Application #
	  	 Registration Date
	  	 Registration #
	  	 Status

	 ACTIVEDSO
	  	10/7/1998	  	75/566,009	  	11/5/2002	  	2,646,087	  	REGISTERED
	 ARBSTUDIO
	  	3/19/2010	  	77/964,008	  		  		  	PENDING
	 CATC
	  	8/22/2005	  	78/697,400	  	11/7/2006	  	3,167,925	  	REGISTERED
	 EYE DOCTOR
	  	3/22/2006	  	78/843,029	  	10/13/2009	  	3,697,188	  	REGISTERED
	 FEATUREFINDER
	  	6/8/2006	  	78/903,455	  		  		  	APPLICATION
	 FINDPROBLEM
	  	6/8/2006	  	78/903,458	  		  		  	APPLICATION
	 JITTERTRACK
	  	10/7/1998	  	75/567,027	  	9/16/2003	  	2,764,506	  	REGISTERED
	 LECROY
	  	1/31/1997	  	75/234,035	  	10/20/1998	  	2,197,128	  	REGISTERED
	 LOGICSTUDIO
	  	3/19/2010	  	77/964,007	  		  		  	PENDING
	 PERT3
	  	8/28/2008	  	77/558,268	  		  		  	ALLOWED
	 PROBUS
	  	04/06/1993	  	74/376,167	  	8/20/1996	  	1,994,287	  	REGISTERED
	 PROTOSYNC
	  	3/19/2010	  	77/964,011	  		  		  	PENDING
	 QUALIPHY
	  	7/5/2007	  	77/222,256	  	5/5/2009	  	3,616,692	  	REGISTERED
	 QVT
	  	1/19/1976	  	73/074,718	  	11/09/1976	  	1,052,319	  	REGISTERED
	 SCSI-VIEW
	  	6/02/2000	  	76/061857	  	5/15/1995	  	2558037	  	REGISTERED
	 SIMPASS
	  	3/19/2010	  	77/963,968	  		  		  	PENDING
	 SPARQ
	  	3/19/2010	  	77/964,010	  		  		  	PENDING
	 TRIGGERSCAN
	  	8/28/2008	  	77/558,281	  		  		  	ALLOWED
	 UNISANT
	  	12/20/2004	  	78/535,222	  		  		  	APPLICATION
	 VERISYS
	  	10/1/1999	  	75/795230	  	5/29/2001	  	2454649	  	REGISTERED
	 WAVEACE
	  	8/28/2008	  	77/558,186	  	12/22/2009	  	3,729,495	  	REGISTERED
	 WAVEEXPERT
	  	3/9/2005	  	78/583,260	  	12/5/2006	  	3,181,791	  	REGISTERED
	 WAVEJET
	  	9/21/2005	  	78/717,258	  	9/11/2007	  	3,291,830	  	REGISTERED
	 WAVELINK
	  	9/9/2004	  	78/480,800	  	11/1/2005	  	3,011.322	  	REGISTERED
	 WAVEMASTER
	  	12/27/2001	  	76/353,065	  	2/17/2004	  	2,815,465	  	REGISTERED
	 WAVEPRO
	  	6/16/2000	  	76/072,491	  	11/12/2002	  	2,650,171	  	REGISTERED
	 WAVERUNNER
	  	10/22/1998	  	75/574,956	  	6/19/2001	  	2,462,247	  	REGISTERED
	 WAVESCAN
	  	6/15/2006	  	78/908,697	  	8/18/2009	  	3,671,068	  	REGISTERED
	 WAVESCANNER
	  	8/14/2006	  	78/951,123	  		  		  	APPLICATION
	 WAVESURFER
	  	12/18/2003	  	78/342,575	  	8/2/2005	  	2,982,153	  	REGISTERED
	 WAVESURFER
	  	5/9/2001	  	76/254,051	  	12/10/2002	  	2,658,341	  	REGISTERED

 PATENT SECURITY AGREEMENT 

THIS PATENT SECURITY AGREEMENT (“Agreement”) is dated to be effective as of July 29, 2010, by and between LECROY
CORPORATION, a Delaware corporation (“Pledgor”), to and for the benefit of MANUFACTURERS AND TRADERS TRUST COMPANY, a New York banking corporation, in its capacity as Agent (in such capacity “Agent”), and the other “Secured
Parties” (as such term is defined below). 
 Whereas, pursuant to and upon the terms and subject to the conditions set
forth in the Amended and Restated Credit Agreement dated to be effective as of even date herewith (as the same may be amended, modified, extended, renewed, restated, supplemented, or replaced from time to time, “Credit Agreement,”) by and
between the Pledgor and the Secured Parties, the “Lenders,” the “Swingline Lender,” and the “Issuing Lender” (as such terms are defined below) have severally agreed to provide various credit accommodations to or for the
benefit of the Pledgor. 
 Pursuant to the Security Agreement dated to be effective as of even date herewith (as the same may be
amended, modified, extended, renewed, restated, supplemented, or replaced from time to time, “Security Agreement”), by and between the Pledgor and the Agent, the Pledgor has granted to the Agent for the ratable benefit of the Secured
Parties a continuing security interest in all of the Pledgor’s tangible and intangible assets and properties, whether presently owned or hereafter acquired and wherever located. 

Whereas, it is a condition precedent to the agreements of the Secured Parties under the Credit Agreement that the Pledgor, among other
things, shall have executed and delivered this Agreement to further evidence and facilitate recordation with the United States Patent and Trademark Office of the security interests of the Secured Parties in the “Patents” (as such term is
defined below). 
 NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the Pledgor hereby agrees as follows: 
 Section 1. Defined Terms. As
used in this Agreement, the terms set forth in this Section 1 have the meanings set forth below, unless the specific context of this Agreement clearly requires a different meaning. Any capitalized terms used herein without definition which are
defined in, or defined by reference to the Credit Agreement shall have the meanings thereby assigned. The singular use of any defined term includes the plural and the plural use includes the singular. 

Section 1.1. “Collateral” shall have the same meaning assigned thereto in Section 2 of this Agreement.

 Section 1.2. “Issuing Lender” means Manufacturers and Traders Trust Company, a New York Banking
corporation, or its successors, in its capacity as issuer of Letters of Credit under the Credit Agreement. 
 Section 1.3.
“Lenders” means collectively each lender from time to time a party to the Credit Agreement (in its capacity as a “Lender”). 

Section 1.4. “Obligations” shall have the same meaning assigned thereto in the Credit Agreement. 

Section 1.5. Patents” means all right, title and interest of the Pledgor, whether now owned or existing or hereafter
acquired or arising, in, to, under and by virtue of all patents, letters patent, and patent applications granted by or pending in the United States Patent and Trademark Office or in any other country in the name of the Pledgor including but not
limited to all of the inventions and improvements described or claimed therein, all registrations and recordings thereof, and all pending applications, together with: (a) all goodwill of the business to which any of the foregoing relates;
(b) any reissues, divisions, continuations, continuations-in-part, renewals, reexaminations, certificates of re-examination and extensions thereof; (c) all inventions disclosed or claimed therein, including the right to make, use, or sell
the inventions disclosed or claimed therein; (d) all present and future rights of the Pledgor under all present and future license agreements relating to any of the foregoing, whether the Pledgor is licensee or licensor thereunder; (e) all
income, royalties, damages and payments now or hereafter due or payable to the Pledgor under any of the foregoing or with respect thereto, including, without limitation, damages and payments for past, present or future infringements thereof;
(f) all present and future claims, causes of action and rights to sue for past, present or future infringements thereof; and (g) all rights corresponding thereto throughout the world. “Patents,” as defined above, shall include,
without 

 
limitation, all of the patents and patent applications listed on Exhibit A attached hereto and incorporated herein by reference. 

Section 1.6. “Secured Parties” means, collectively, the Agent, the Lenders, the Swingline Lender, and the Issuing
Lender. 
 Section 1.7. “Swingline Lender” means Manufacturers and Traders Trust Company, a New York
Banking corporation, or its successors, in its capacity as provider of Swingline Loans under the Credit Agreement. 

Section 2. Grant Of Security Interest. As security for the complete and timely payment, performance and satisfaction of all
of the Obligations and in order to induce the Secured Parties to enter into the Credit Agreement and provide the respective credit accommodations set forth in the Credit Agreement, the Pledgor hereby assigns as collateral, mortgages, pledges, and
hypothecates to the Agent, and hereby grants to the Agent, for the ratable benefit of the Secured Parties, and hereby assigns as collateral, mortgages, pledges, and hypothecates to the Secured Parties, and hereby grants to the Secured Parties, a
security interest in, all of all of the Pledgor’s right, title and interest in, to and under the following, whether now owned or existing or hereafter acquired (all of which being hereinafter collectively called the “Collateral”):

  

	 	a.	all Patents; 

  

	 	b.	all general intangibles, contract rights, documents, instruments, and other rights relating to or arising from the Patents; 

 

	 	c.	to the extent not otherwise included, all proceeds and products of any and all of the foregoing; and 

 

	 	d.	all records and writings relating or pertaining to any of the above. 

Section 3. Representations And Warranties. The Pledgor hereby represents and warrants that: 

3.1 Title; No Other Liens. Except for the liens, pledges and security interests granted to the Agent for the ratable benefit of
the Secured Parties, and to the Secured Parties, pursuant to this Agreement, the Pledgor owns each item of the Collateral free and clear of any and all liens or claims of others. To the best of the Pledgor’s knowledge, no security agreement,
financing statement or other public notice with respect to all or any part of the Collateral is on file or of record in any public office, except such as may have been filed in favor of the Agent or any of the Secured Parties pursuant to this
Agreement. 
 3.2 Perfected First Priority Liens. Upon the filing and acceptance for recordation in the United States
Patent and Trademark Office of this Agreement (or with respect to patents issued and pending in jurisdictions outside of the United States, the applicable jurisdiction) the security interests and liens granted pursuant to this Agreement will
constitute perfected security interests and liens in and to the Collateral in favor of the Agent, for the ratable benefit of the Secured Parties and in favor of the Secured Parties, which are prior to all other liens in or to the Collateral in
existence on the date hereof and which are enforceable as such against all creditors of and purchasers from the Pledgor. 
 3.3
Patents. Exhibit A hereto includes all Patents owned by the Pledgor as of the date hereof. To the best of the Pledgor’s knowledge, each such Patent is, to the extent applicable, valid, subsisting, unexpired, enforceable and has not been
abandoned. Except as set forth in such Exhibit A or in the ordinary course of the Pledgor’s business, none of such Patents is the subject of any licensing or franchise agreement. To the best of the Pledgor’s knowledge, no holding, decision
or judgment has been rendered by any Governmental Authority which would limit, cancel or question the validity of any such Patent. To the best of the Pledgor’s knowledge, no action or proceeding is pending: (a) seeking to limit, cancel or
question the validity of any such Patent; or (b) which, if adversely determined, would have a material adverse effect on the value of any such Patent. 

3.4 Chief Executive Office. The Pledgor’s chief executive office is located at 700 Chestnut Ridge Road, Chestnut Ridge, New
York 10977. 

 Section 4. Covenants. The Pledgor covenants and agrees for the benefit of the
Secured Parties that, from and after the Date of this Agreement until all of the Obligations have been paid in full and there exists no contingent or noncontingent commitment which could give rise to any Obligations: 

Section 4.1. The Pledgor, consistent with good business judgment, shall (either itself or through licensees): (a) continue to
maintain such Patent and the registration of the Patent in full force, free from any adverse claim; (b) maintain as in the past the quality of products and/or processes made, sold, or offered under each Patent; (c) employ each Patent with
the appropriate notice of registration; (d) not knowingly adopt or use any goods and or/processes or methods which are confusingly similar to, or a colorable imitation of, any patent owned by a third party not believed by Pledgor to be invalid;
(e) use proper statutory notice and markings in connection with its making, using or selling goods and/or processes or methods covered by the Patents; and (f) not do any act, or omit to do any act, whereby any Patent may become
invalidated. The Pledgor will not, without the Agent’s prior written consent, enter into any agreement (for example, a license agreement) which is inconsistent with the Pledgor’s obligations under the Credit Agreement, this Agreement, the
Security Agreement, or any of the other Loan Documents, and the Pledgor further agrees that it will not take any action, or permit any action to be taken by others subject to its control, including licensees, or fail to take any action, which would
materially adversely affect the validity or enforcement of the rights transferred to the Agent and other Secured Parties pursuant to this Agreement, the Security Agreement, or any other Loan Document. 

Section 4.2. In each case in which, after the date of this Agreement, the Pledgor shall: (a) obtain rights to any Patents not
listed on Exhibit A hereto or to any licenses relating to any such Patents; or (b) become entitled to the benefit of any Patent not listed on Exhibit A hereto or to the benefit of any license renewal, the security interest of the Secured
Parties granted hereunder shall automatically attach thereto. The Pledgor shall give the Agent prompt written notice of any patents to which the Pledgor has obtained rights, provided, however, so long as no Default or Event of Default has occurred
and is continuing, the Pledgor may provide such notice to the Agent quarterly, within forty-five (45) days after the end of each fiscal quarter of each Fiscal Year, and such notice shall include all patents to which the Pledgor has received
rights within such fiscal quarter. Promptly after request by the Agent and at the Pledgor’s expense, the Pledgor shall execute and deliver to the Agent, in form and content reasonably satisfactory to the Agent and in proper form for filing in
the United States Patent and Trademark Office or the applicable office of any other jurisdiction, such security agreements, assignments or other documents as may be reasonably required by the Agent in order to reflect of record the Secured
Parties’ interest therein pursuant to this Agreement. The Pledgor further agrees, at its expense, promptly to do, make, execute and deliver all such additional and further acts, things, deeds, assurances, instruments and documents as the Agent
may reasonably request from time to time to vest in and assure to the Secured Parties their rights under this Agreement or in any of the Collateral, and the Pledgor hereby constitutes the Agent its attorney-in-fact to execute and file all such
additional instruments and documents for the foregoing purposes, all lawful acts of such attorney being hereby ratified and confirmed; such power, being coupled with an interest, is irrevocable until the Obligations have been satisfied in full and
there exists no contingent or noncontingent commitment which could give rise to any Obligations. 
 Section 4.3. The
Pledgor will promptly notify the Secured Parties if it knows, or has reason to know, that any Patent may become abandoned or dedicated, or of any adverse determination or development (including, without limitation, the institution of, or any such
determination or development in, any proceeding in the United States Patent and Trademark Office or any state, federal, or foreign court or tribunal) regarding the Pledgor’s ownership of any such Patent or its right to register the same or to
keep and maintain the same. 
 Section 4.4. Consistent with good business judgment, the Pledgor will maintain, preserve and
protect all of the Patents free of any conflict with the rights of any other Person. Without limitation of the foregoing, the Pledgor , consistent with good business judgment, shall have the duty to: (i) pay all taxes, fees or other amounts
necessary to maintain in full force and effect all of the Patents; (ii) prosecute diligently any application relating to the Patents pending as of the date hereof or thereafter; (iii) make application on any Patents which have not been
registered but which may be registered; and (iv) preserve and maintain all rights in applications and registrations of the Patents. Any expenses incurred in connection with such applications shall be paid by the Pledgor, and none of the Secured
Parties shall have any obligation or liability to pay any taxes or fees, nor shall any of the Secured Parties have any duties in connection with applications or maintenance of rights in any Patents. 

Section 4.5. Except as permitted under the terms and conditions of the Credit Agreement, without the Agent’s prior written
consent, the Pledgor shall not sell or assign its interest in, or grant any license under, any of the Patents. 

 Section 4.6. In the event that any Patent included in the Collateral is infringed by a
third party, the Pledgor shall promptly take appropriate action consistent with good business judgment, including suing for infringement, seeking injunctive relief where appropriate, recovering any and all damages for such infringement or taking
such other actions as the Pledgor shall reasonably deem appropriate under the circumstances to protect such Patent. The Pledgor shall notify the Secured Parties promptly after it learns of such infringement and shall provide all information as the
Secured Parties may require as to what actions Pledgor has taken or proposes to take with respect to same. 
 Section 5.
Agent’s Appointment As Attorney-In-Fact. 
 Section 5.1. Powers. The Pledgor hereby irrevocably
constitutes and appoints the Agent and any officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of the Pledgor and in the name of the
Pledgor or in its own name, from time to time in the Agent’s discretion after the occurrence and during the continuance of any Event of Default, for the purpose of carrying out the terms of this Agreement, to take any and all appropriate action
and to execute any and all documents and instruments which may be necessary or desirable to accomplish the purposes of this Agreement, and, without limiting the generality of the foregoing, the Pledgor hereby gives the Agent the power and right, on
behalf of the Pledgor, without notice to or assent by the Pledgor, to do the following: 
 a. to pay or discharge taxes and
liens levied or placed on or threatened against the Collateral; and 
 b. without limitation of rights granted to the Agent
under other provisions of this Agreement: (i) to ask, demand, sue for, compromise, settle and collect and receive payment of and receipt for, any and all moneys, claims and other amounts due or to become due at any time in respect of or arising
out of any Collateral; (ii) to commence and prosecute any suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect the Collateral or any thereof and to enforce any other right in respect of any
Collateral; (iii) to defend any suit, action or proceeding brought against the Pledgor with respect to any Collateral; (iv) to settle, compromise or adjust any suit, action or proceeding described in clause (ii) or (iii) above
and, in connection therewith, to give such discharges or releases as the Agent may deem appropriate; (v) to assign, license or otherwise transfer any Patent or interests therein or thereunder for such term or terms, on such conditions, and in
such manner, as the Agent shall in its sole discretion determine; and (vi) generally, to sell, transfer, assign, license, pledge and make any agreement with respect to or otherwise deal with any of the Collateral as fully and completely as
though the Agent were the absolute owner thereof for all purposes, and to do, at the Agent’s option and the Pledgor’s expense, at any time, or from time to time, all acts and things which the Agent deems necessary to protect, preserve or
realize upon the Collateral and the liens of the Secured Parties thereon and to effect the intent of this Agreement, all as fully and effectively as the Pledgor might do. The Pledgor hereby ratifies all that said attorneys-in-fact shall lawfully do
or cause to be done by virtue hereof. This power of attorney is a power coupled with an interest and shall be irrevocable. 

Section 5.2. Other Powers. The Pledgor authorizes the Agent and each other Secured Party, at any time and from time to time,
to execute, in connection with any sale provided for in Section 8 hereof, any endorsements, assignments or other instruments of conveyance or transfer with respect to the Collateral. 

Section 5.3. No Duty. The powers conferred on the Agent and the other Secured Parties hereunder are solely to protect the
interests of the Secured Parties in the Collateral and shall not impose any duty upon any of them to exercise any such powers. The Secured Parties shall be accountable only for amounts that they actually receive as a result of the exercise of such
powers, and neither they nor any of their officers, directors, employees, attorneys or agents shall be responsible to the Pledgor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct. 

Section 6. Performance By Agent Of Pledgor’s Obligations. If the Pledgor fails to perform or comply with any of its
agreements contained herein and any of the Secured Parties, as provided for by the terms of this Agreement, shall itself perform or comply, or otherwise cause performance or compliance, with such agreement, the Pledgor shall pay to the Agent the
expenses of the Secured Parties incurred in connection with such performance or compliance, together with interest thereon which shall accrue at the highest rate of interest authorized by the Loan Documents upon the occurrence of an Event of
Default. 
 Section 7. Remedies. If an Event of Default shall occur and be continuing: 

 a. All cash, checks, drafts, money orders and other items of payment constituting
Collateral, or collections or other proceeds of Collateral, received by the Pledgor shall be held by the Pledgor in trust for the Secured Parties, shall be segregated from other funds of the Pledgor and shall forthwith upon receipt by the Pledgor,
be turned over to the Agent, in the same form as received by the Pledgor (duly endorsed by the Pledgor to the Agent if required), and any and all such collections and other proceeds of Collateral so received by the Agent (whether from the Pledgor or
otherwise) may, in the sole discretion of the Agent, be held by the Agent as collateral security for, and/or then or at any time thereafter applied in whole or in part by the Agent against, such of the Obligations (whether matured or unmatured), and
in such order, as is set forth in the Credit Agreement. 
 b. The Agent may take exclusive possession of any or all of the
Collateral from time to time and/or place a custodian in exclusive possession of any or all of the Collateral from time to time and, so far as the Pledgor may give authority therefor, enter upon any premises on which any of the Collateral may be
situated and remove the same therefrom, the Pledgor hereby waiving, to the extent permitted by applicable law, any and all rights to prior notice and to judicial hearing with respect to repossession of Collateral, and/or require the Pledgor, at the
Pledgor’s expense, to assemble and deliver any or all of the Collateral to such place or places as the Agent may reasonably request. 

c. At the Pledgor’s expense, continue or complete, or cause to be continued or completed, performance of obligations of the Pledgor
under any accounts, chattel paper, contracts, instruments or general intangibles, and, for such purpose, use, operate, manage, control and exercise all rights of the Pledgor relating to, any or all of the Collateral, and collect all income and
revenues therefrom. 
 d. The Agent may exercise, in addition to all other rights and remedies granted to the Agent or the
Secured Parties in this Agreement and in any other Loan Document and in addition to all other rights and remedies available to the Agent or the Secured Parties under applicable law, all rights and remedies of a secured party under the Uniform
Commercial Code, in effect from time to time in the State of New York. Without limiting the generality of the foregoing, the Agent, without demand of performance or other demand, presentment, protest, advertisement or notice of any kind (except
any notice required by law) to or upon the Pledgor or any other Person (all and each of which demands, defenses, advertisements and notices are hereby waived), may forthwith sell, liquidate, license, assign, give options to purchase, or otherwise
dispose of and realize upon the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public or private sale or sales, at any exchange, broker’s board or office of the Agent or any Secured Party, or
at any or all of the places of business of the Pledgor, or elsewhere, upon such terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk.
The Agent or any Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold, free of any right or
equity of redemption in the Pledgor, which right or equity is hereby waived and released. The Agent shall apply the net proceeds of any such sale, license, assignment or other disposition of or realization upon any of the Collateral, after deducting
all reasonable costs and expenses of every kind incurred therein or incidental to repossession, holding, preparing for sale, license, assignment or other disposition, selling, licensing, assigning or otherwise disposing of any of the Collateral or
in any way relating to the Collateral or the rights of the Agent or any Secured Party hereunder, including, without limitation, reasonable attorneys’ fees and disbursements, to the payment in whole or in part of such of the Obligations (whether
matured or unmatured), and in such order, as is set forth in the Credit Agreement, and only after such application and after the payment by the Agent of any other amount required by any provision of law, need the Agent account for the surplus, if
any, to the Pledgor. In no event shall the Pledgor be credited with any part of the proceeds of liquidation, sale, assignment, licensing or other disposition of any of the Collateral until final payment thereon has been received by the Agent in
immediately available funds. To the extent permitted by applicable law, the Pledgor waives all claims, damages and demands it may acquire against the Agent or any Secured Party arising out of the exercise by any of them of any rights hereunder. If
any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed commercially reasonable and proper if given at least five (5) Business Days before such sale or other disposition. The
Pledgor shall remain liable for any deficiency if the proceeds of any sale or other disposition of the Collateral are insufficient to pay in full the Obligations and all costs and expenses, including reasonable attorneys’ fees and
disbursements, paid or incurred by any of the Secured Parties in collecting any such deficiency. 
 Section 8.
Proceeds. If an Event of Default shall have occurred and be continuing, any and all proceeds received by the Agent (whether from the Pledgor or otherwise) may, in the sole discretion of the Agent, be held by the Agent, for the ratable benefit
of the Secured Parties, as collateral security for, and/or then or at any time thereafter applied in whole or in part by the Agent against, such of the Obligations (whether matured or unmatured) in accordance with the Credit Agreement. 

 Section 9. Expenses. The Pledgor agrees to pay to the Agent for the benefit of
the Secured Parties upon demand from time to time the amount of all expenses, including reasonable attorneys’ fees and disbursements, paid or incurred by any of the Secured Parties in exercising or enforcing any of their rights under this
Agreement, recording this Agreement or any other document in public offices, or any other fees or disbursements in connection with protecting, preserving, or maintaining the Patents. 

Section 10. Limitation on Duties Regarding Preservation of Collateral. The sole duty of any of the Secured Parties with
respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code (in effect from time to time in the State of New York) or otherwise, shall be to deal
with it in the same manner as such Secured Party deals with similar property for its own account. None of the Secured Parties, nor any of their respective directors, officers, employees, attorneys or agents, shall be liable for failure to demand,
collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Pledgor or otherwise. 

Section 11. Patent And Trademark Office And Third Parties May Rely Upon Pledgor’s Authorizations To Agent. If the
Secured Parties shall elect to exercise any of their rights hereunder, the United States Patent and Trademark Office and all other persons and entities shall have the right to rely upon the Agent’s written statement of the rights of the Agent
on behalf of the Secured Parties to sell, assign, license and transfer the Patents and the Pledgor hereby irrevocably and unconditionally authorizes the United States Patent and Trademark Office and all other persons and entities to recognize such
sale by the Agent for the benefit of the Secured Parties either in name of the Pledgor or the Secured Parties without the necessity or obligation of the United States Patent and Trademark Office or any other persons and entities to ascertain the
existence of any default by the Pledgor under the Loan Documents, or any other fact or matter relating to the entitlement of the Agent or the other Secured Parties to exercise their rights hereunder. 

Section 12. Powers Coupled With An Interest. All authorizations and agencies herein contained with respect to the Collateral
are irrevocable and powers coupled with an interest. 
 Section 13. Waiver of Trial By Jury. THE PLEDGOR, BY ITS
EXECUTION OF THIS AGREEMENT, AND EACH OF THE SECURED PARTIES, BY ITS ACCEPTANCE OF THIS AGREEMENT, HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING
DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

Section 14. Additional Waivers. The Pledgor hereby waives, to the extent the same may be waived under applicable law:
(a) notice of acceptance of this Agreement by the Secured Parties; (b) all claims, causes of action and rights of the Pledgor against any of the Secured Parties on account of actions taken or not taken by any of them in the exercise of any
of their rights or remedies under this Agreement or under Law, provided that the same did not arise from their gross negligence or willful misconduct; and (c) all claims and causes of action of the Pledgor against any of the Secured Parties for
punitive, exemplary or other non-compensatory damages, unless such claims arose on account of willful misconduct. 

Section 15. Severability. Any provisions of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as
to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. 
 Section 16. Successors And Assigns. The terms, covenants
and conditions contained in this Agreement shall inure to the benefit of the Pledgor and each of the Secured Parties and their respective successors and assigns, except that the Pledgor may not assign or transfer any of its rights or obligations
under this Agreement without the written consent of the Required Lenders. 

 Section 17. Paragraph Headings. The paragraph headings used in this Agreement
are for convenience of reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 

Section 18. No Waiver; Cumulative Remedies. None of the Secured Parties shall by any act (except by a written instrument
pursuant to Section 19 hereof), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy under this Agreement or any of the other Loan Documents or to have acquiesced in any Default or Event of Default under the
Credit Agreement or in any breach of any of the terms and conditions hereof. No failure to exercise, nor any delay in exercising, on the part of any of the Secured Parties, any right, power or privilege hereunder shall operate as a waiver thereof.
No single or partial exercise of any right, power or privilege hereunder shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege. A waiver by any of the Secured Parties of any right or remedy
hereunder on any one occasion shall not be construed as a bar to any right or remedy which any of the Secured Parties would otherwise have on any future occasion. The rights and remedies herein provided are cumulative, may be exercised singly or
concurrently and are not exclusive of any rights or remedies provided in any other Loan Document or by law. 
 Section 19.
Waivers and Amendments; Governing Law. None of the terms or provisions of this Agreement may be waived, amended, supplemented or otherwise modified except by a written instrument executed by the Pledgor and the Agent, provided that any
provision of this Agreement may be waived by the Agent with the consent of the Required Lenders in a written letter or agreement executed by the Agent. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PLEDGOR AND EACH OF THE SECURED PARTIES
UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK, EXCLUSIVE OF PRINCIPLES OF CONFLICTS OF LAWS. 

Section 20. Notices. All notices, requests and demands to or upon the Pledgor or any of the Secured Parties to be effective
shall be in writing, and, unless otherwise expressly provided herein, shall be given in the manner specified in the Credit Agreement for the giving of notices under the Credit Agreement. Notwithstanding anything to the contrary, all notices,
requests, and demands upon the Pledgor from any of the Secured Parties actually received in writing by the Pledgor shall be considered to be effective upon the receipt thereof by the Pledgor regardless of the procedure or method utilized to
accomplish delivery thereof to the Pledgor. 
 Section 21. Authority of Agent. The Pledgor acknowledges that the
rights and responsibilities of the Agent under this Agreement with respect to any action taken or not taken by the Agent or the exercise or nonexercise by the Agent of any option, right, request, judgment or other right or remedy provided for herein
or resulting or arising out of this Agreement shall, as among the Agent, the Lenders, the Swingline Lender and the Issuing Lender, be governed by the Credit Agreement and by such other agreements with respect thereto as may exist from time to time
among them, but, as between the Agent and the Pledgor, the Agent shall be conclusively presumed to be acting as Agent for the Lenders, the Swingline Lender, and the Issuing Lender with full and valid authority so to act or refrain from acting, and
the Pledgor shall not be under any obligation, or entitlement, to make any inquiry respecting such authority. 
 [Signatures
Begin on the Following Page] 

 Signature Page to Patent Security Agreement: 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written with the specific intention of creating
an instrument under seal. 
  

									
	WITNESS/ATTEST:	 		 	 PLEDGOR:
	 	
				
		 		 	 LECROY CORPORATION
	 	
					
	  
	 		 	By:	 	 /s/ Sean B. O’Connor 
	 	(SEAL)
		 		 	Name:	 	Sean B. O’Connor	 	
		 		 	Title: Vice President, Finance, Chief Financial Officer, Secretary and Treasurer

 

											
			
	WITNESS/ATTEST:	 		 	 AGENT:

				
		 		 	 MANUFACTURERS AND TRADERS TRUST COMPANY, A New York Banking Corporation,

In Its Capacity As Agent
	 	
					
	  
	 		 	By:	 	  
	 	(SEAL)
		 		 		 	Name:	 	  
	 	
		 		 		 	Title:	 	  
	 	

  

 EXHIBIT A 

Schedule Of Patents 
  

					
	 Patent Number
	  	 Date Awarded
	  	 Description

	6,016,464	  	18-Jan-00	  	Method and system for characterizing terminations in a local area network
			
	7,202,678	  	10-Apr-07	  	Resistive probe tips
			
	7,219,037	  	15-May-07	  	High Bandwidth Oscilloscope
			
	7,212,018	  	1-May-07	  	Dual tip probe
			
	7,221,179	  	22-May-07	  	Bendable conductive connector
			
	7,222,055	  	22-May-07	  	High bandwidth real time oscilloscope
			
	7,233,967	  	19-Jun-07	  	Reflection filter
			
	7,262,614	  	28-Aug-07	  	Planar on edge probing tip with flex
			
	RE39,693	  	12-Jun-07	  	Digital frequency response compensator and arbitrary response generator system
			
	7,280,930	  	9-Oct-07	  	Sequential Timebase
			
	7,295,020	  	13-Nov-07	  	Cap at resistors of electrical test probe
			
	7,285,946	  	23-Oct-07	  	Pattern trigger in a coherent timebase
			
	7,301,484	  	27-Nov-07	  	Data decoder
			
	7,304,597	  	4-Dec-07	  	Adaptive interpolation for Use in Reducing Signal Spurs
			
	7,310,392	  	18-Dec-07	  	Method and apparatus for determining inter-symbol interference for estimating data dependent jitter
			
	7,317,312	  	8-Jan-08	  	Guide for tip to transmission path contact
			
	7,321,234	  	22-Jan-08	  	Resistive test probe tips and applications therefor
			
	7,373,281	  	13-May-08	  	High Bandwidth Oscilloscope
			
	7,378,832	  	27-May-08	  	Probing high-frequency signals
			
	7,383,547	  	3-Jun-08	  	Apparatus and technique for device emulation
			
	7,386,409	  	10-Jun-08	  	Method and apparatus for artifact signal reduction in systems of mismatched interleaved digitizers
			
	7,403,560	  	22-Jul-08	  	Simultaneous physical and protocol layer analysis
			
	7,432,698	  	7-Oct-08	  	Modular Active Test Probe and Removable Tip Module Therefor

					
	7,434,113	  	7-Oct-08	  	Method of analyzing serial data streams
			
	7,437,624	  	14-Oct-08	  	Method and apparatus for analyzing serial data streams
			
	7,450,043	  	11-Nov-08	  	Method of compensating for deterministic jitter due to interleave error
			
	7,466,247	  	16-Dec-08	  	Fractional-decimation signal processing
			
	7,492,177	  	17-Feb-09	  	Bendable conductive connector
			
	7,504,886	  	17-Mar-09	  	Thermal tail compensation
			
	7,505,039	  	17-Mar-09	  	Track of statistics
			
	7,514,997	  	7-Apr-09	  	Common mode regulation for thermal tail compensation
			
	7,516,030	  	7-Apr-09	  	Measuring components of jitter
			
	7,518,385	  	14-Apr-09	  	Probe using high pass ground signal path
			
	7,519,513	  	14-Apr-09	  	High bandwidth real time oscilloscope
			
	7,519,874	  	14-Apr-09	  	Method and apparatus for bit error rate analysis
			
	7,525,328	  	28-Apr-09	  	Cap at resistors of electrical test probe
			
	7,529,258	  	5-May-09	  	Method and system for cascading analyzer trace memories
			
	7,535,394	  	19-May-09	  	High speed arbitrary waveform generator
			
	RE40,802	  	23-Jun-09	  	Digital frequency response compensator and arbitrary response generator system
			
	7,589,728	  	15-Sep-09	  	Digital oscilloscope display and method for image quality improvement
			
	7,595,628	  	29-Sep-09	  	Probing apparatus for illuminating an electrical device under test (Previously “Probing apparatus”)
			
	7,634,693	  	15-Dec-09	  	Method and apparatus for analyzing serial data streams
			
	7,653,500	  	26-Jan-10	  	Sequential Timebase
			
	7,653,514	  	26-Jan-10	  	High bandwidth oscilloscope for digitizing an analog signal having a bandwidth greater than the bandwidth of digitizing components of the oscilloscope (Previously “High
Bandwidth Oscilloscope”)
			
	7,659,790	  	9-Feb-10	  	High speed signal transmission line having reduced thickness regions (Previously - “High speed signal transmission”)
			
	7,660,685	  	9-Feb-10	  	Virtual probing
			
	7,663,624	  	16-Feb-10	  	Report generating method and apparatus
			
	7,671,613	  	2-Mar-10	  	Probing blade

					
	7,707,234	  	27-Apr-10	  	Use of multiple data comparators in parallel to trigger an oscilloscope on a pattern found in a serial data stream
			
	7,711,510	  	4-May-10	  	Method of crossover region phase correction when summing signals in multiple frequency bands
			
	7,711,996	  	4-May-10	  	Test system and method
			
	D581,821	  	2-Dec-08	  	Housing for test and measurement instrument
			
	D578,911	  	21-Oct-08	  	Housing for test and measurement instrument
			
	D556066	  	27-Nov-07	  	Housing for oscilloscope (Hornet)
			
	D553520	  	23-Oct-07	  	Housing for test and measurement instrument (Eagle box)

  

					
	 Patent Number
	  	 Date Awarded
	  	 Description

	5,218,363	  	8-Jun-93	  	High-speed switching tree with input sampling pulses of constant frequency and means for varying the effective sampling rate
			
	5,255,365	  	5-Oct-92	  	Method and apparatus for compacting digital time series data for display on a digital oscilloscope
			
	5,257,025	  	26-Oct-93	  	High-speed sampling arrangement and apparatus using same
			
	5,293,122	  	8-Mar-94	  	Signal probe with remote control function
			
	5,384,713	  	24-Jan-95	  	Apparatus and method for acquiring and detecting stale data
			
	5,467,056	  	14-Nov-94	  	Very high speed precision amplifier
			
	5,621,408	  	15-Apr-97	  	Delta sigma analog-to-digital converter with temporarily interleaved architecture
			
	5,703,838	  	30-Dec-97	  	Vernier delay line interpolator and coarse counter realignment
			
	5,835,050	  	10-Nov-98	  	Multi-range analog-to-digital converter with multi-range switching
			
	5,838,754	  	17-Nov-98	  	Vernier delay line interpolator and coarse counter realignment
			
	6,112,160	  	29-Aug-00	  	Optical recording measurement package
			
	6,137,749	  	24-Oct-00	  	Apparatus and method for measuring time intervals with very high resolutions
			
	6,151,010	  	21-Nov-00	  	Digital oscilloscope display and method therefor
			
	6,225,837	  	1-May-01	  	Charge sampling circuit
			
	6,269,317	  	31-Jul-01	  	Self-calibration of an oscilloscope using a square-wave test signal
			
	6,437,552	  	20-Aug-02	  	Automatic Probe Identification System
			
	6,195,617 B1	  	27-Feb-01	  	Digital storage oscilloscope with simultaneous primary measurement and derived parameter display on common time axis and method therefor
			
	6,242,899 B1	  	5-Jun-01	  	Waveform translator for DC to 75GHz oscillography
			
	6,311,138 B2	  	30-Oct-01	  	Digital storage oscilloscope with simultaneous primary measurement and derived parameter display on common time axis and method therefor
			
	6,442,730 B1	  	27-Aug-02	  	Recording Medium Failure Analysis Apparatus and Method
			
	6,462,529 B1	  	8-Oct-02	  	Legs for Trimming a Tripod with an Electrical Test Probe Tip
			
	6,518,780 B1	  	11-Feb-03	  	Electrical test probe wedge tip
			
	6,650,131 B2	  	18-Nov-03	  	Electrical test probe wedge tip
			
	6,538,424 B1	  	25-Mar-03	  	Notched electrical test probe tip
			
	6,539,318 B2	  	25-Mar-03	  	Streaming architecture for waveform processing
			
	6,542,914 B1	  	1-Apr-03	  	Method and apparatus for increasing bandwidth in sampled systems
			
	6,567,030	  	20-May-03	  	Sample Synthesis for Matching Digitizers in Interleaved Systems
			
	6,605,934	  	12-Aug-03	  	Cartridge system for a probing head for an electrical test probe
			
	6,701,335	  	2-Mar-04	  	Digital frequency response compensator and arbitrary response generator system

					
	6,731,286	  	4-May-04	  	Data compaction for fast display
			
	6,791,545	  	14-Sep-04	  	Measurement icons for digital oscilloscopes
			
	6,819,279	  	16-Nov-04	  	Method and apparatus for the recovery of signals acquired by an interleaved system of digitizers with mismatching frequency response characteristics
			
	6,809,535	  	26-Oct-04	  	Notched electrical test probe tip
			
	6,822,463	  	23-Nov-04	  	Active Differential Test Probe with a Transmission Line Input Structure
			
	6,828,769	  	7-Dec-04	  	Cartridge system for a probing head for an electrical test probe
			
	6,859,813	  	22-Feb-05	  	Parallel decimation circuits
			
	6,863,576	  	8-Mar-05	  	Electrical Test Probe Flexible Spring Tip
			
	6,870,359	  	22-Mar-05	  	Self-Calibrating Electrical Testing Probe
			
	6,885,953	  	26-Apr-05	  	Oscilloscope panel capture and implementation
			
	6,907,365	  	14-Jun-05	  	Context sensitive toolbar
			
	6,919,728	  	19-Jul-05	  	Calibration Cache and Database
			
	6,952,655	  	4-Oct-05	  	User defined processing function
			
	6,956,362	  	18-Oct-05	  	Modular Active Test Probe and Removable Tip Module Therefor
			
	6,965,383	  	15-Nov-05	  	Scaling persistence data with interpolation
			
	7,009,377	  	7-Mar-06	  	Cartridge system for a probing head for an electrical test probe
			
	7,019,544	  	28-Mar-06	  	Transmission line input structure test probe
			
	7,042,232	  	9-May-06	  	Cable and substrate compensating custom resistor
			
	7,050,918	  	23-May-06	  	Digital group delay compensator
			
	7,058,548	  	6-Jun-06	  	High bandwidth real-time oscilloscope
			
	7,058,800	  	6-Jun-06	  	System for defining internal variables by selecting and confirming the selected value is within a defined range of values
			
	7,076,014	  	11-Jul-06	  	Precise synchronization of distributed systems
			
	7,124,159	  	17-Oct-06	  	Parallel decimation circuits
			
	7,139,684	  	21-Nov-06	  	High bandwidth real time oscilloscope
			
	7,140,105	  	28-Nov-06	  	Method of fabricating a notched electrical test probe tip
			
	7,173,439	  	6-Feb-07	  	Guide for tip to transmission path contact
			
	7,180,314	  	20-Feb-07	  	Self-Calibrating electrical test probe calibratable while connected to an electrical component under test
			
	7,173,943	  	6-Feb-07	  	Protocol analyzer and time precise method for capturing multi-directional packet traffic
			
	D444,401	  	3-Jul-01	  	Electrical test probe wedge tip
			
	D444,720	  	10-Jul-01	  	Notched electrical test probe tip
			
	D444,721	  	10-Jul-01	  	Electrical test probe probing head
			
	D504,078	  	19-Apr-05	  	Measurement Instrument
			
	D504,341	  	26-Apr-05	  	Measurement Instrument
			
	D500,693	  	11-Jan-05	  	Measurement Instrument
			
	D501,414	  	1-Feb-05	  	Measurement Instrument
			
	4423373	  	27-Dec-83	  	
			
	4482826	  	13-Nov-84	  	
			
	4734677	  	29-Mar-88	  	
			
	4804939	  	14-Feb-89	  	

					
	4805197	  	14-Feb-89	  	
			
	6242899	  	05-Jun-2001	  	
			
	6292121	  	18-Sept-01	  	
			
	6356532	  	12-Mar-02	  	
			
	6538424	  	25-Mar-03	  	
			
	6650131	  	18-Nov- 03	  	
			
	6657437	  	02-Dec-03	  	
			
	6829223	  	07-Dec-06	  	
			
	D500693	  	11-Jan-05	  	
			
	D501414	  	01-Feb-05	  	
			
	6870359	  		  	Self Calibrating Testing Probe

 United States Patent
Applications: 
  

			
	 Application Number
	  	 Description

		
	11/364,796 (Continuation re-issue application of 6,701,335)	  	Digital frequency response compensator and arbitrary response generator system
	09/988,416	  	Processing web for data processing in a digital oscilloscope or similar instrument
	09/988,420	  	Processing web editor for data processing in a digital oscilloscope or similar instrument
	10/155,655	  	Surface mapping and 3-D parametric analysis
	10/321,422	  	Self-Calibrating Electrical Testing Probe
	10/673,712	  	Method and apparatus for bit error rate analysis
	10/673,713	  	Method and apparatus for analyzing serial data streams
	10/673,735	  	Method and apparatus for analyzing serial data streams
	10/673,736	  	Method of analyzing serial data streams
	10/688,661	  	Method and apparatus for determining inter-symbol interference for estimating data dependent jitter
	10/713,403	  	System and method for displaying protocol analysis in formation
	10/781,146	  	Guide for tip to transmission path contact
	10/830,788	  	Method and apparatus for improving accuracy of touch screen input devices
	10/836,385	  	Simultaneous physical and protocol layer analysis
	10/933,859	  	Reflection filter
	10/941,319	  	Digital oscilloscope display and method for image quality improvement
	10/970,192	  	Dual tip probe
	11/003,654	  	Protocol analyzer time based display
	11/018,133	  	Resistive probe tips
	11/018,134	  	Cap at resistors of electrical test probe

			
	11/019,325	  	Bendable conductive connector
	11/094,754 Reissue of letters of patent 6,542,914 B1	  	Method and apparatus for increasing bandwidth in sampled systems
	11/157,455	  	Report generating method and apparatus
	11/186,676	  	Track of statistics
	11/189,352	  	Spectrum analyzer control in an oscilloscope
	11/197,911	  	Modular Active Test Probe and Removable Tip Module Therefor
	11/244,616	  	Use of multiple data comparators in parallel to trigger an oscilloscope on a pattern found in a serial data stream
	11/264,396	  	Data decoder
	11/264,530	  	Group delay compensation using IFFT filters
	11/270,187	  	High bandwidth real time oscilloscope
	11/280,493	  	Method and apparatus for artifact signal reduction in systems of mismatched interleaved digitizers
	11/280,671	  	Method of crossover region phase correction when summing signals in multiple frequency bands
	11/281,075	  	High Bandwidth Oscilloscope
	11/286,784	  	Common mode measuring differential probe
	11/286,787	  	Adherable holder for test probe tip
	11/346,653	  	Pattern trigger in a coherent timebase
	11/346,654	  	Sequential Timebase
	11/346,854	  	Coherent interleaved sampling
	11/352,128	  	Planar on edge probing tip with flex
	11/362,499	  	Measuring components of jitter
	11/364,796 (reissue of 6,701,335)	  	Digital frequency response compensator and arbitrary response generator system
	11/378,528	  	Envelope generation algorithm
	11/442,030	  	Adaptive interpolation/upsampling
	11/478,463	  	Probe using high pass ground signal path
	11/484,202	  	Precise synchronization of distributed systems
	11/508,509	  	High speed signal transmission
	11/508,583	  	Probing high-frequency signals
	11/518,678	  	Thermal tail compensation
	11/518,765	  	Common mode regulation for thermal tail compensation
	11/525,345	  	High bandwidth real time oscilloscope
	11/581,647	  	Estimating bit error rate performance of signals
	11/590,342	  	Method of compensating for deterministic jitter due to interleave error
	11/641,154	  	Resizable display
	11/641,984	  	Adjustable resistance
	11/650,368	  	Probing blade
	11/681,537	  	Pause request processing for data traffic modification
	11/681,589	  	Code editing for data traffic modification
	11/681,622	  	Triggered modification of data traffic
	11/702,304	  	Method and apparatus for using out of band captured protocol traffic to facilitate in band traffic capturing
	11/702,305	  	WUSB Burst Acknowledgement Management

			
	11/702,387	  	Test and debug method and apparatus
	29/242,941	  	Housing for test and measurement instrument
	29/251,566	  	Housing for test and measurement instrument

  

 PATENT SECURITY AGREEMENT 

THIS PATENT SECURITY AGREEMENT (“Agreement”) is dated to be effective as of July 29, 2010, by and between COMPUTER ACCESS
TECHNOLOGY CORPORATION, a Delaware corporation (“Pledgor”), to and for the benefit of MANUFACTURERS AND TRADERS TRUST COMPANY, a New York banking corporation, in its capacity as Agent (in such capacity “Agent”), and the other
“Secured Parties” (as such term is defined below). 
 Whereas, pursuant to and upon the terms and subject to the
conditions set forth in the Amended and Restated Credit Agreement dated to be effective as of even date herewith (as the same may be amended, modified, extended, renewed, restated, supplemented, or replaced from time to time, “Credit
Agreement,”) by and between LeCroy Corporation, a Delaware corporation (“Borrower”) and the Secured Parties, the “Lenders,” the “Swingline Lender,” and the “Issuing Lender” (as such terms are defined
below) have severally agreed to provide various credit accommodations to or for the benefit of the Borrower. 
 All of the
existing and future obligations of the Borrower to the Secured Parties are guaranteed by the Pledgor pursuant to a Guaranty Agreement dated as of even date herewith by the Pledgor to the Agent for the benefit of the Secured Parties (as the same may
be amended, modified, extended, renewed, restated, supplemented or replaced from time to time, the “Guaranty”). 

Pursuant to the Security Agreement dated to be effective as of even date herewith (as the same may be amended, modified, extended,
renewed, restated, supplemented, or replaced from time to time, “Security Agreement”), by and between the Pledgor and the Agent, the Pledgor has granted to the Agent for the ratable benefit of the Secured Parties a continuing security
interest in all of the Pledgor’s tangible and intangible assets and properties, whether presently owned or hereafter acquired and wherever located. 

Whereas, it is a condition precedent to the agreements of the Secured Parties under the Credit Agreement that the Pledgor, among other
things, shall have executed and delivered this Agreement to further evidence and facilitate recordation with the United States Patent and Trademark Office of the security interests of the Secured Parties in the “Patents” (as such term is
defined below). 
 NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the Pledgor hereby agrees as follows: 
 Section 1. Defined Terms. As used
in this Agreement, the terms set forth in this Section 1 have the meanings set forth below, unless the specific context of this Agreement clearly requires a different meaning. Any capitalized terms used herein without definition which are
defined in, or defined by reference to the Credit Agreement shall have the meanings thereby assigned. The singular use of any defined term includes the plural and the plural use includes the singular. 

Section 1.1. “Collateral” shall have the same meaning assigned thereto in Section 2 of this Agreement. 

Section 1.2. “Issuing Lender” means Manufacturers and Traders Trust Company, a New York Banking corporation, or its
successors, in its capacity as issuer of Letters of Credit under the Credit Agreement. 
 Section 1.3.
“Lenders” means collectively each lender from time to time a party to the Credit Agreement (in its capacity as a “Lender”). 

Section 1.4. “Obligations” shall have the same meaning assigned thereto in the Credit Agreement and in the Guaranty.

 Section 1.5. “Patents” means all right, title and interest of the Pledgor, whether now owned or existing or
hereafter acquired or arising, in, to, under and by virtue of all patents, letters patent, and patent applications granted by or pending in the United States Patent and Trademark Office or in any other country in the name of the Pledgor including
but not limited to all of the inventions and improvements described or claimed therein, all registrations and recordings thereof, and all pending applications, together with: (a) all goodwill of the business to which any of the foregoing
relates; (b) any reissues, divisions, continuations, continuations-in-part, renewals, reexaminations, certificates 

 
of re-examination and extensions thereof; (c) all inventions disclosed or claimed therein, including the right to make, use, or sell the inventions disclosed or claimed therein; (d) all
present and future rights of the Pledgor under all present and future license agreements relating to any of the foregoing, whether the Pledgor is licensee or licensor thereunder; (e) all income, royalties, damages and payments now or hereafter
due or payable to the Pledgor under any of the foregoing or with respect thereto, including, without limitation, damages and payments for past, present or future infringements thereof; (f) all present and future claims, causes of action and
rights to sue for past, present or future infringements thereof; and (g) all rights corresponding thereto throughout the world. “Patents,” as defined above, shall include, without limitation, all of the patents and patent applications
listed on Exhibit A attached hereto and incorporated herein by reference. 
 Section 1.6. “Secured Parties”
means, collectively, the Agent, the Lenders, the Swingline Lender, and the Issuing Lender. 
 Section 1.7. “Swingline
Lender” means Manufacturers and Traders Trust Company, a New York Banking corporation, or its successors, in its capacity as provider of Swingline Loans under the Credit Agreement. 

Section 2. Grant Of Security Interest. As security for the complete and timely payment, performance and satisfaction of all of the
Obligations and in order to induce the Secured Parties to enter into the Credit Agreement and provide the respective credit accommodations set forth in the Credit Agreement, the Pledgor hereby assigns as collateral, mortgages, pledges, and
hypothecates to the Agent, and hereby grants to the Agent, for the ratable benefit of the Secured Parties, and hereby assigns as collateral, mortgages, pledges, and hypothecates to the Secured Parties, and hereby grants to the Secured Parties, a
security interest in, all of all of the Pledgor’s right, title and interest in, to and under the following, whether now owned or existing or hereafter acquired (all of which being hereinafter collectively called the “Collateral”):

  

	 	a.	all Patents; 

  

	 	b.	all general intangibles, contract rights, documents, instruments, and other rights relating to or arising from the Patents; 

 

	 	c.	to the extent not otherwise included, all proceeds and products of any and all of the foregoing; and 

 

	 	d.	all records and writings relating or pertaining to any of the above. 

Section 3. Representations And Warranties. The Pledgor hereby represents and warrants that: 

3.1 Title; No Other Liens. Except for the liens, pledges and security interests granted to the Agent for the ratable benefit of
the Secured Parties, and to the Secured Parties, pursuant to this Agreement, the Pledgor owns each item of the Collateral free and clear of any and all liens or claims of others. To the best of the Pledgor’s knowledge, no security agreement,
financing statement or other public notice with respect to all or any part of the Collateral is on file or of record in any public office, except such as may have been filed in favor of the Agent or any of the Secured Parties pursuant to this
Agreement. 
 3.2 Perfected First Priority Liens. Upon the filing and acceptance for recordation in the United States
Patent and Trademark Office of this Agreement (or with respect to patents issued and pending in jurisdictions outside of the United States, the applicable jurisdiction) the security interests and liens granted pursuant to this Agreement will
constitute perfected security interests and liens in and to the Collateral in favor of the Agent, for the ratable benefit of the Secured Parties and in favor of the Secured Parties, which are prior to all other liens in or to the Collateral in
existence on the date hereof and which are enforceable as such against all creditors of and purchasers from the Pledgor. 
 3.3
Patents. Exhibit A hereto includes all Patents owned by the Pledgor as of the date hereof. To the best of the Pledgor’s knowledge, each such Patent is, to the extent applicable, valid, subsisting, unexpired, enforceable and has not been
abandoned. Except as set forth in such Exhibit A or in the ordinary course of the Pledgor’s business, none of such Patents is the subject of any licensing or franchise agreement. To the best of the Pledgor’s knowledge, no holding, decision
or judgment has been rendered by any Governmental Authority which would limit, 
  

 2 

 
cancel or question the validity of any such Patent. To the best of the Pledgor’s knowledge, no action or proceeding is pending: (a) seeking to limit, cancel or question the validity of
any such Patent; or (b) which, if adversely determined, would have a material adverse effect on the value of any such Patent. 

3.4 Chief Executive Office. The Pledgor’s chief executive office is located at 3385 Scott Boulevard, Santa Clara, California
95054. 
 Section 4. Covenants. The Pledgor covenants and agrees for the benefit of the Secured Parties that, from and
after the Date of this Agreement until all of the Obligations have been paid in full and there exists no contingent or noncontingent commitment which could give rise to any Obligations: 

Section 4.1. The Pledgor, consistent with good business judgment, shall (either itself or through licensees): (a) continue to
maintain such Patent and the registration of the Patent in full force, free from any adverse claim; (b) maintain as in the past the quality of products and/or processes made, sold, or offered under each Patent; (c) employ each Patent with
the appropriate notice of registration; (d) not knowingly adopt or use any goods and or/processes or methods which are confusingly similar to, or a colorable imitation of, any patent owned by a third party not believed by Pledgor to be invalid;
(e) use proper statutory notice and markings in connection with its making, using or selling goods and/or processes or methods covered by the Patents; and (f) not do any act, or omit to do any act, whereby any Patent may become
invalidated. The Pledgor will not, without the Agent’s prior written consent, enter into any agreement (for example, a license agreement) which is inconsistent with the Pledgor’s obligations under this Agreement, the Guaranty, the Security
Agreement, or any of the other Loan Documents, or the Borrower’s obligations under the Credit Agreement or any other Loan Documents, and the Pledgor further agrees that it will not take any action, or permit any action to be taken by others
subject to its control, including licensees, or fail to take any action, which would materially adversely affect the validity or enforcement of the rights transferred to the Agent and other Secured Parties pursuant to this Agreement, the Security
Agreement, or any other Loan Document. 
 Section 4.2. In each case in which, after the date of this Agreement, the Pledgor
shall: (a) obtain rights to any Patents not listed on Exhibit A hereto or to any licenses relating to any such Patents; or (b) become entitled to the benefit of any Patent not listed on Exhibit A hereto or to the benefit of any license
renewal, the security interest of the Secured Parties granted hereunder shall automatically attach thereto. The Pledgor shall give the Agent prompt written notice of any patents to which the Pledgor has obtained rights, provided, however, so long as
no Default or Event of Default has occurred and is continuing, the Pledgor may provide such notice to the Agent quarterly, within forty-five (45) days after the end of each fiscal quarter of each Fiscal Year, and such notice shall include all
patents to which the Pledgor has received rights within such fiscal quarter. Promptly after request by the Agent and at the Pledgor’s expense, the Pledgor shall execute and deliver to the Agent, in form and content reasonably satisfactory to
the Agent and in proper form for filing in the United States Patent and Trademark Office or the applicable office of any other jurisdiction, such security agreements, assignments or other documents as may be reasonably required by the Agent in order
to reflect of record the Secured Parties’ interest therein pursuant to this Agreement. The Pledgor further agrees, at its expense, promptly to do, make, execute and deliver all such additional and further acts, things, deeds, assurances,
instruments and documents as the Agent may reasonably request from time to time to vest in and assure to the Secured Parties their rights under this Agreement or in any of the Collateral, and the Pledgor hereby constitutes the Agent its
attorney-in-fact to execute and file all such additional instruments and documents for the foregoing purposes, all lawful acts of such attorney being hereby ratified and confirmed; such power, being coupled with an interest, is irrevocable until the
Obligations have been satisfied in full and there exists no contingent or noncontingent commitment which could give rise to any Obligations. 

Section 4.3. The Pledgor will promptly notify the Secured Parties if it knows, or has reason to know, that any Patent may become
abandoned or dedicated, or of any adverse determination or development (including, without limitation, the institution of, or any such determination or development in, any proceeding in the United States Patent and Trademark Office or any state,
federal, or foreign court or tribunal) regarding the Pledgor’s ownership of any such Patent or its right to register the same or to keep and maintain the same. 

Section 4.4. Consistent with good business judgment, the Pledgor will maintain, preserve and protect all of the Patents free of any
conflict with the rights of any other Person. Without limitation of the foregoing, the Pledgor , consistent with good business judgment, shall have the duty to: (i) pay all taxes, fees or other amounts necessary to maintain in full force and
effect all of the Patents; (ii) prosecute diligently any application relating to the Patents 
  

 3 

 
pending as of the date hereof or thereafter; (iii) make application on any Patents which have not been registered but which may be registered; and (iv) preserve and maintain all rights
in applications and registrations of the Patents. Any expenses incurred in connection with such applications shall be paid by the Pledgor, and none of the Secured Parties shall have any obligation or liability to pay any taxes or fees, nor shall any
of the Secured Parties have any duties in connection with applications or maintenance of rights in any Patents. 
 Section 4.5.
Except as permitted under the terms and conditions of the Credit Agreement, without the Agent’s prior written consent, the Pledgor shall not sell or assign its interest in, or grant any license under, any of the Patents. 

Section 4.6. In the event that any Patent included in the Collateral is infringed by a third party, the Pledgor shall promptly take
appropriate action consistent with good business judgment, including suing for infringement, seeking injunctive relief where appropriate, recovering any and all damages for such infringement or taking such other actions as the Pledgor shall
reasonably deem appropriate under the circumstances to protect such Patent. The Pledgor shall notify the Secured Parties promptly after it learns of such infringement and shall provide all information as the Secured Parties may require as to what
actions Pledgor has taken or proposes to take with respect to same. 
 Section 5. Agent’s Appointment As
Attorney-In-Fact. 
 Section 5.1. Powers. The Pledgor hereby irrevocably constitutes and appoints the Agent and any
officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of the Pledgor and in the name of the Pledgor or in its own name, from time to time
in the Agent’s discretion after the occurrence and during the continuance of any Event of Default, for the purpose of carrying out the terms of this Agreement, to take any and all appropriate action and to execute any and all documents and
instruments which may be necessary or desirable to accomplish the purposes of this Agreement, and, without limiting the generality of the foregoing, the Pledgor hereby gives the Agent the power and right, on behalf of the Pledgor, without notice to
or assent by the Pledgor, to do the following: 
 a. to pay or discharge taxes and liens levied or placed on or threatened
against the Collateral; and 
 b. without limitation of rights granted to the Agent under other provisions of this Agreement:
(i) to ask, demand, sue for, compromise, settle and collect and receive payment of and receipt for, any and all moneys, claims and other amounts due or to become due at any time in respect of or arising out of any Collateral; (ii) to
commence and prosecute any suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect the Collateral or any thereof and to enforce any other right in respect of any Collateral; (iii) to defend any suit,
action or proceeding brought against the Pledgor with respect to any Collateral; (iv) to settle, compromise or adjust any suit, action or proceeding described in clause (ii) or (iii) above and, in connection therewith, to give such
discharges or releases as the Agent may deem appropriate; (v) to assign, license or otherwise transfer any Patent or interests therein or thereunder for such term or terms, on such conditions, and in such manner, as the Agent shall in its sole
discretion determine; and (vi) generally, to sell, transfer, assign, license, pledge and make any agreement with respect to or otherwise deal with any of the Collateral as fully and completely as though the Agent were the absolute owner thereof
for all purposes, and to do, at the Agent’s option and the Pledgor’s expense, at any time, or from time to time, all acts and things which the Agent deems necessary to protect, preserve or realize upon the Collateral and the liens of the
Secured Parties thereon and to effect the intent of this Agreement, all as fully and effectively as the Pledgor might do. The Pledgor hereby ratifies all that said attorneys-in-fact shall lawfully do or cause to be done by virtue hereof. This power
of attorney is a power coupled with an interest and shall be irrevocable. 
 Section 5.2. Other Powers. The Pledgor
authorizes the Agent and each other Secured Party, at any time and from time to time, to execute, in connection with any sale provided for in Section 8 hereof, any endorsements, assignments or other instruments of conveyance or transfer with
respect to the Collateral. 
 Section 5.3. No Duty. The powers conferred on the Agent and the other Secured Parties
hereunder are solely to protect the interests of the Secured Parties in the Collateral and shall not impose any duty upon any of them to exercise any such powers. The Secured Parties shall be accountable only for amounts that they actually receive
as a result of the exercise of such powers, and neither they nor any of their officers, directors, employees, attorneys or agents 

 

 4 

 
shall be responsible to the Pledgor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct. 

Section 6. Performance By Agent Of Pledgor’s Obligations. If the Pledgor fails to perform or comply with any of its
agreements contained herein and any of the Secured Parties, as provided for by the terms of this Agreement, shall itself perform or comply, or otherwise cause performance or compliance, with such agreement, the Pledgor shall pay to the Agent the
expenses of the Secured Parties incurred in connection with such performance or compliance, together with interest thereon which shall accrue at the highest rate of interest authorized by the Loan Documents upon the occurrence of an Event of
Default. 
 Section 7. Remedies. If an Event of Default shall occur and be continuing: 

a. All cash, checks, drafts, money orders and other items of payment constituting Collateral, or collections or other proceeds of
Collateral, received by the Pledgor shall be held by the Pledgor in trust for the Secured Parties, shall be segregated from other funds of the Pledgor and shall forthwith upon receipt by the Pledgor, be turned over to the Agent, in the same form as
received by the Pledgor (duly endorsed by the Pledgor to the Agent if required), and any and all such collections and other proceeds of Collateral so received by the Agent (whether from the Pledgor or otherwise) may, in the sole discretion of the
Agent, be held by the Agent as collateral security for, and/or then or at any time thereafter applied in whole or in part by the Agent against, such of the Obligations (whether matured or unmatured), and in such order, as is set forth in the Credit
Agreement. 
 b. The Agent may take exclusive possession of any or all of the Collateral from time to time and/or place a
custodian in exclusive possession of any or all of the Collateral from time to time and, so far as the Pledgor may give authority therefor, enter upon any premises on which any of the Collateral may be situated and remove the same therefrom, the
Pledgor hereby waiving, to the extent permitted by applicable law, any and all rights to prior notice and to judicial hearing with respect to repossession of Collateral, and/or require the Pledgor, at the Pledgor’s expense, to assemble and
deliver any or all of the Collateral to such place or places as the Agent may reasonably request. 
 c. At the Pledgor’s
expense, continue or complete, or cause to be continued or completed, performance of obligations of the Pledgor under any accounts, chattel paper, contracts, instruments or general intangibles, and, for such purpose, use, operate, manage, control
and exercise all rights of the Pledgor relating to, any or all of the Collateral, and collect all income and revenues therefrom. 

d. The Agent may exercise, in addition to all other rights and remedies granted to the Agent or the Secured Parties in this Agreement and
in any other Loan Document and in addition to all other rights and remedies available to the Agent or the Secured Parties under applicable law, all rights and remedies of a secured party under the Uniform Commercial Code, in effect from time
to time in the State of New York. Without limiting the generality of the foregoing, the Agent, without demand of performance or other demand, presentment, protest, advertisement or notice of any kind (except any notice required by law) to or upon
the Pledgor or any other Person (all and each of which demands, defenses, advertisements and notices are hereby waived), may forthwith sell, liquidate, license, assign, give options to purchase, or otherwise dispose of and realize upon the
Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public or private sale or sales, at any exchange, broker’s board or office of the Agent or any Secured Party, or at any or all of the places of
business of the Pledgor, or elsewhere, upon such terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. The Agent or any Secured Party
shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold, free of any right or equity of redemption in the Pledgor,
which right or equity is hereby waived and released. The Agent shall apply the net proceeds of any such sale, license, assignment or other disposition of or realization upon any of the Collateral, after deducting all reasonable costs and expenses of
every kind incurred therein or incidental to repossession, holding, preparing for sale, license, assignment or other disposition, selling, licensing, assigning or otherwise disposing of any of the Collateral or in any way relating to the Collateral
or the rights of the Agent or any Secured Party hereunder, including, without limitation, reasonable attorneys’ fees and disbursements, to the payment in whole or in part of such of the Obligations (whether matured or unmatured), and in such
order, as is set forth in the Credit Agreement, and only after such application and after the payment by the Agent of any other amount required by any provision of law, need the Agent account for the surplus, if any, to the Pledgor. In no event
shall the Pledgor be credited with any part of the proceeds of liquidation, sale, assignment, licensing or other disposition of any of the 

 

 5 

 
Collateral until final payment thereon has been received by the Agent in immediately available funds. To the extent permitted by applicable law, the Pledgor waives all claims, damages and demands
it may acquire against the Agent or any Secured Party arising out of the exercise by any of them of any rights hereunder. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed
commercially reasonable and proper if given at least five (5) Business Days before such sale or other disposition. The Pledgor shall remain liable for any deficiency if the proceeds of any sale or other disposition of the Collateral are
insufficient to pay in full the Obligations and all costs and expenses, including reasonable attorneys’ fees and disbursements, paid or incurred by any of the Secured Parties in collecting any such deficiency. 

Section 8. Proceeds. If an Event of Default shall have occurred and be continuing, any and all proceeds received by the Agent
(whether from the Pledgor or otherwise) may, in the sole discretion of the Agent, be held by the Agent, for the ratable benefit of the Secured Parties, as collateral security for, and/or then or at any time thereafter applied in whole or in part by
the Agent against, such of the Obligations (whether matured or unmatured) in accordance with the Credit Agreement. 
 Section 9.
Expenses. The Pledgor agrees to pay to the Agent for the benefit of the Secured Parties upon demand from time to time the amount of all expenses, including reasonable attorneys’ fees and disbursements, paid or incurred by any of the
Secured Parties in exercising or enforcing any of their rights under this Agreement, recording this Agreement or any other document in public offices, or any other fees or disbursements in connection with protecting, preserving, or maintaining the
Patents. 
 Section 10. Limitation on Duties Regarding Preservation of Collateral. The sole duty of any of the Secured
Parties with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code (in effect from time to time in the State of New York) or otherwise, shall
be to deal with it in the same manner as such Secured Party deals with similar property for its own account. None of the Secured Parties, nor any of their respective directors, officers, employees, attorneys or agents, shall be liable for failure to
demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Pledgor or otherwise. 

Section 11. Patent And Trademark Office And Third Parties May Rely Upon Pledgor’s Authorizations To Agent. If the Secured
Parties shall elect to exercise any of their rights hereunder, the United States Patent and Trademark Office and all other persons and entities shall have the right to rely upon the Agent’s written statement of the rights of the Agent on behalf
of the Secured Parties to sell, assign, license and transfer the Patents and the Pledgor hereby irrevocably and unconditionally authorizes the United States Patent and Trademark Office and all other persons and entities to recognize such sale by the
Agent for the benefit of the Secured Parties either in name of the Pledgor or the Secured Parties without the necessity or obligation of the United States Patent and Trademark Office or any other persons and entities to ascertain the existence of
any default by the Pledgor under the Loan Documents, or any other fact or matter relating to the entitlement of the Agent or the other Secured Parties to exercise their rights hereunder. 

Section 12. Powers Coupled With An Interest. All authorizations and agencies herein contained with respect to the Collateral are
irrevocable and powers coupled with an interest. 
 Section 13. Waiver of Trial By Jury. THE PLEDGOR, BY ITS EXECUTION OF
THIS AGREEMENT, AND EACH OF THE SECURED PARTIES, BY ITS ACCEPTANCE OF THIS AGREEMENT, HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR
INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT
OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HAVE BEEN INDUCED TO
ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
  

 6 

 Section 14. Additional Waivers. The Pledgor hereby waives, to the extent the same may
be waived under applicable law: (a) notice of acceptance of this Agreement by the Secured Parties; (b) all claims, causes of action and rights of the Pledgor against any of the Secured Parties on account of actions taken or not taken by
any of them in the exercise of any of their rights or remedies under this Agreement or under Law, provided that the same did not arise from their gross negligence or willful misconduct; and (c) all claims and causes of action of the Pledgor
against any of the Secured Parties for punitive, exemplary or other non-compensatory damages, unless such claims arose on account of willful misconduct. 

Section 15. Severability. Any provisions of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. 
 Section 16. Successors And Assigns. The terms, covenants and
conditions contained in this Agreement shall inure to the benefit of the Pledgor and each of the Secured Parties and their respective successors and assigns, except that the Pledgor may not assign or transfer any of its rights or obligations under
this Agreement without the written consent of the Required Lenders. 
 Section 17. Paragraph Headings. The paragraph
headings used in this Agreement are for convenience of reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 

Section 18. No Waiver; Cumulative Remedies. None of the Secured Parties shall by any act (except by a written instrument pursuant
to Section 19 hereof), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy under this Agreement or any of the other Loan Documents or to have acquiesced in any Default or Event of Default under the Credit
Agreement or in any breach of any of the terms and conditions hereof. No failure to exercise, nor any delay in exercising, on the part of any of the Secured Parties, any right, power or privilege hereunder shall operate as a waiver thereof. No
single or partial exercise of any right, power or privilege hereunder shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege. A waiver by any of the Secured Parties of any right or remedy
hereunder on any one occasion shall not be construed as a bar to any right or remedy which any of the Secured Parties would otherwise have on any future occasion. The rights and remedies herein provided are cumulative, may be exercised singly or
concurrently and are not exclusive of any rights or remedies provided in any other Loan Document or by law. 
 Section 19.
Waivers and Amendments; Governing Law. None of the terms or provisions of this Agreement may be waived, amended, supplemented or otherwise modified except by a written instrument executed by the Pledgor and the Agent, provided that any
provision of this Agreement may be waived by the Agent with the consent of the Required Lenders in a written letter or agreement executed by the Agent. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PLEDGOR AND EACH OF THE SECURED PARTIES
UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK, EXCLUSIVE OF PRINCIPLES OF CONFLICTS OF LAWS. 

Section 20. Notices. All notices, requests and demands to or upon the Pledgor to be effective shall be in writing and, unless
otherwise expressly provided herein, shall be given in the manner specified in the Guaranty for the giving of notices under the Guaranty. All notices, requests and demands to or upon any of the Secured Parties to be effective shall be in writing,
and, unless otherwise expressly provided herein, shall be given in the manner specified in the Credit Agreement for the giving of notices under the Credit Agreement. Notwithstanding anything to the contrary, all notices, requests, and demands upon
the Pledgor from any of the Secured Parties actually received in writing by the Pledgor shall be considered to be effective upon the receipt thereof by the Pledgor regardless of the procedure or method utilized to accomplish delivery thereof to the
Pledgor. 
 Section 21. Authority of Agent. The Pledgor acknowledges that the rights and responsibilities of the Agent
under this Agreement with respect to any action taken or not taken by the Agent or the exercise or nonexercise by the Agent of any option, right, request, judgment or other right or remedy provided for herein or resulting or arising out of this
Agreement shall, as among the Agent, the Lenders, the Swingline Lender and the Issuing Lender, be governed by the Credit Agreement and by such other agreements with respect thereto as may exist from time to time among them, but, as between the Agent
and the Pledgor, the Agent shall be conclusively presumed to be acting as Agent for the Lenders, 
  

 7 

 
the Swingline Lender, and the Issuing Lender with full and valid authority so to act or refrain from acting, and the Pledgor shall not be under any obligation, or entitlement, to make any inquiry
respecting such authority. 
 [Signatures Begin on the Following Page] 

 

 8 

 Signature Page to Patent Security Agreement: 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written with the specific intention of creating an
instrument under seal. 
  

													
	WITNESS/ATTEST:	 		 		 	PLEDGOR:
				
		 		 		 	 COMPUTER ACCESS TECHNOLOGY CORPORATION,

A Delaware Corporation

						
	  
	 		 		 	By:	 	 /s/ Sean B. O’Connor
	 	(SEAL)
		 		 		 		 	Name:	 	Sean B. O’Connor
		 		 		 		 	Title:	 	Vice President, Finance, Chief Financial Officer, Secretary and Treasurer

 

													
	WITNESS/ATTEST:	 		 		 	AGENT:
				
		 		 		 	 MANUFACTURERS AND TRADERS TRUST

COMPANY, A New York Banking Corporation,

		 		 		 	In Its Capacity As Agent
						
	  
	 		 		 	By:	 	  
	 	(SEAL)
		 		 		 		 	Name:	 	  
	 	
		 		 		 		 	Title:	 	  
	 	

  

 9 

 EXHIBIT A 

Schedule Of Patents 

UNITED STATES PATENTS 
  

							
	 Patent #
	  	 Date Awarded
	  	 Status
	  	 Owner

	 6711151
	  	03-23-2004	  	Active	  	Computer Access Technology Corporation
				
	 6718395
	  	04-06-2004	  	Active	  	Computer Access Technology Corporation
				
	 6757318
	  	06-29-2004	  	Active	  	Computer Access Technology Corporation
				
	 6826639
	  	11-30-2004	  	Active	  	Computer Access Technology Corporation
				
	 7173943
	  	02-06-2007	  	Active	  	Computer Access Technology Corporation
				
	 5321632
	  	06-14-1994	  	Active	  	Verisys, Incorporated (predecessor in interest to Computer Access Technology Corporation)

  

 10Rayonier Inc. Excess Benefit Plan, as amended

 Exhibit 10.2 

RAYONIER INC. 

EXCESS BENEFIT PLAN 

As Amended and Restated as of July 15, 2010 

 INTRODUCTION 

The Rayonier Inc. Excess Benefit Plan (the “Plan”) was established by the Board of Directors of Rayonier Inc. effective as of
March 1, 1994 to pay supplemental benefits to employees who have qualified or may qualify for benefits under the Retirement Plan for Salaried Employees of Rayonier Inc. The Plan was amended and restated in its entirety effective as of
December 31, 2007 to comply with the Code Section 409A Rules. The Plan is again being amended and restated in its entirety effective July 15, 2010 to provide that participants can elect a joint and survivor annuity and to clarify
certain provisions of the Plan. 
 All benefits payable under this Plan, which is intended to constitute both an unfunded excess
benefit plan under Sections 3(36) and 4(b)(5) of Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and an unfunded deferred compensation plan for a select group of management or highly compensated
employees under Title I of ERISA, shall be paid out of the general assets of the Company. The Company may establish and fund a trust in order to aid it in providing benefits due under the Plan. The Plan is not intended to meet the qualification
requirements of Section 401 of the Code, but is intended to comply with the Code Section 409A Rules. 

 RAYONIER INC. 

EXCESS BENEFIT PLAN 

TABLE OF CONTENTS 
  

							
	  	 	 	  	Page
	 ARTICLE
	 		  	
			
	 INTRODUCTION
	 		  	
			
	 I
	 	 DEFINITIONS
	  	1
			
	 II
	 	 PARTICIPATION; AMOUNT AND PAYMENT OF BENEFITS
	  	
				
		 	 2.01
	 	 Participation
	  	4
		 	 2.02
	 	 Amount of Benefits
	  	4
		 	 2.03
	 	 Vesting
	  	6
		 	 2.04
	 	 Payment of Benefits
	  	6
		 	 2.05
	 	 Beneficiary
	  	9
		 	 2.06
	 	 Restoration to Service
	  	9
			
	 III
	 	 GENERAL PROVISIONS
	  	
				
		 	 3.01
	 	 Funding
	  	10
		 	 3.02
	 	 Duration of Benefits
	  	10
			
	 IV
	 	 ADMINISTRATION
	  	
				
		 	 4.01
	 	 Discontinuance, Amendment and Termination
	  	12
		 	 4.02
	 	 Vesting Upon Termination or Discontinuance
	  	12
		 	 4.03
	 	 Special Provisions Upon Change in Control
	  	13
		 	 4.04
	 	 Administration and Interpretation
	  	13
		 	 4.05
	 	 Appointment of Subcommittees
	  	13
		 	 4.06
	 	 No Contract of Employment
	  	14
		 	 4.07
	 	 Facility of Payment
	  	14
		 	 4.08
	 	 Withholding Taxes
	  	14
		 	 4.09
	 	 Nonalienation
	  	14
		 	 4.10
	 	 Forfeiture for Cause
	  	15
		 	 4.11
	 	 Claims Procedure
	  	15
		 	 4.12
	 	 Construction
	  	18

 ARTICLE I 

DEFINITIONS 
  

	1.01	 Definitions. The following terms when capitalized herein shall have the meanings assigned below. 

 

	1.02	 Associated Company shall mean any Associated Company, as defined in the Retirement Plan, not participating in the Plan.

  

	1.03	 Board of Directors shall mean the Board of Directors of Rayonier Inc. 

 

	1.04	 Change in Control shall have the same meaning as a “change in control event” under the provisions of Treasury Regulation
§1.409A-3(i)(5)(i)). 

  

	1.05	 Code shall mean the Internal Revenue Code of 1986, as amended from time to time. 

 

	1.06	 Code Section 409A Rules shall mean Section 409A of the Code and the final regulations and other IRS guidance promulgated
thereunder, as in effect from time to time. 

  

	1.07	 Committee shall mean the Retirement Committee under the Retirement Plan. 

 

	1.08	 Company shall mean Rayonier Inc. or any successor by merger, purchase or otherwise, with respect to its employees and those of its
subsidiaries and affiliated companies which are designated as Participating Units, as that term is defined in the Retirement Plan. 

  

	1.09	 Compensation shall mean a Participant’s Compensation, as that term is defined in the Retirement Plan. 

 

 1 

	1.10	 Distribution Election means a written election to receive payments in an actuarially equivalent annuity form other than a Single Life
Annuity. 

  

	1.11	 ERISA shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time. 

 

	1.12	 Excess Benefit Portion shall mean the portion of the Plan which is intended to constitute an unfunded excess benefit plan under
Sections 3(36) and 4(b)(5) of Title I of ERISA. 

  

	1.13	 ITT Retirement Plan shall mean the ITT Industries Salaried Retirement Plan as in effect on December 19, 1995 or any successor thereto.

  

	1.14	 Participant shall mean a Member of the Retirement Plan who is participating in the Plan pursuant to Section 2.01 hereof.

  

	1.15	 Plan shall mean the Rayonier Inc. Excess Benefit Plan, as set forth herein or as amended from time to time. 

 

	1.16	 Plan Year shall mean the calendar year. 

 

	1.17	 Retirement Plan shall mean the Retirement Plan for Salaried Employees of Rayonier Inc., as amended from time to time.

  

	1.18	 Select Management Portion shall mean the portion of the Plan which is intended to constitute an unfunded deferred compensation plan for a
select group of management or highly compensated employees under Title I of ERISA. 

  

 2 

	1.19	 Separation Delay Period shall mean the six month period following the date of a Participant’s Separation from Service (or such other
applicable period as may be provided for by Section 409A(a)(2)(B)(i) of the Code as in effect at the time), or earlier upon the death of the Participant, such that any payment delayed during the Separation Delay Period is to be paid on the
first business day of the seventh month following the Separation from Service or, if earlier, such Participant’s death. 

  

	1.20	 Separation from Service and Short-Term Deferral and Specified Employee shall have the respective meanings assigned such terms
under the Code Section 409A Rules. 

  

	1.21	 Single Life Annuity shall have the same meaning assigned to such term under Section 2.02 of the Plan.

  

 3 

 ARTICLE II 

PARTICIPATION; AMOUNT AND PAYMENT OF BENEFITS 
  

	2.01	 Participation. Each Member of the Retirement Plan whose annual benefit at the time of payment exceeds the limitations imposed by Code
Section 415(b) or 415(e) (as in effect prior to January 1, 2000) shall participate in the Excess Benefit Portion of the Plan. Each Member of the Retirement Plan whose annual benefit at the time of payment is limited by reason of the Code
Section 401(a)(17) limitation on Compensation or is reduced as a result of deferrals of Compensation under the Rayonier Inc. Excess Savings and Deferred Compensation Plan shall participate in the Select Management Portion of the Plan. A
Participant’s participation in the Plan shall terminate upon the Participant’s death or other termination of employment with the Company unless a benefit is payable under the Plan with respect to the Participant or his beneficiary under
the provisions of this Article II. 

  

	2.02	 Amount of Benefits. The benefits under this Article II with respect to a Participant shall be a monthly payment for the life of the
Participant (“Single Life Annuity”) equal to the excess, if any, of (a) the monthly retirement income which would have been payable to the Participant over his lifetime under Section 4.01, 4.02, 4.03, 4.04, 4.05, 8.06(c), or
8.06(d) of the Retirement Plan (or such successor sections), whichever is applicable, prior to the application of the offset determined pursuant to Section 4.01(b)(i)(4) or Section 4.09 of the Retirement Plan (or such successor sections)
beginning at the Participant’s Annuity Starting Date, as defined in Section 1.02 of the Retirement Plan (or such successor section), determined without regard to the provisions contained in

  

 4 

	 	 
Section 4.08 of the Retirement Plan relating to the maximum limitation on pensions (the Excess Benefit Portion), without regard to the limitation on Compensation set forth in Code
Section 401(a)(17) and contained in Section 1.11 of the Retirement Plan (or such successor section), and without regard to deferrals of Compensation under the Rayonier Inc. Excess Savings and Deferred Compensation Plan (the Select
Management Portion), over (b) the sum of the following amounts: 

  

	(i)	 the amount actually payable to the Participant under the Retirement Plan; 

 

	(ii)	 the amount of the benefit payable to the Participant under the ITT Retirement Plan or any other defined benefit plan maintained by ITT Industries,
Inc. as constituted on January 1, 2000 (or any successor thereto), the Company or any Associated Company with respect to any service which is recognized as Benefit Service for purposes of the computation of benefits under the Retirement Plan;
and 

  

	(iii)	 the amount of the benefit payable to the Participant under any nonqualified defined benefit plan maintained by ITT Industries, Inc. as constituted
on January 1, 2000 (or any successor thereto), the Company or any Associated Company with respect to any service which is recognized as Benefit Service for purposes of the computation of benefits under the Retirement Plan.

 For purposes of this Section 2.02, if any benefit described in (b) above is payable in a form
other than a Single Life Annuity commencing on the Participant’s Annuity Starting Date, as defined in Section 1.02 of the Retirement Plan (or such successor section), such benefit shall be converted to a single life annuity, commencing on
such date, of equivalent actuarial value, and “equivalent actuarial value” shall be computed on the basis set forth in Section 1.16 of the Retirement Plan (or such successor section). 

 

 5 

	2.03	 Vesting 

  

	 	(a)	 A Participant shall be vested in, and have a nonforfeitable right to, the benefit payable under this Article II to the same extent as the
Participant is vested in his Accrued Benefit under Section 4.05 of the Retirement Plan (or such successor section). 

  

	 	(b)	 Notwithstanding any provision of this Plan to the contrary, in the event of a Change in Control, all Participants shall become fully vested in the
benefits provided under this Plan. 

  

	2.04	 Payment of Benefits 

  

	 	(a)	 Within the 90 day period following a Participant’s retirement or other termination of employment with the Company, other than by reason of
death, the Participant’s benefit under Section 2.02 to the extent vested pursuant to Section 2.03, shall commence to be paid in the form of a Single Life Annuity calculated in the same manner as under the Retirement Plan. In lieu of
the Single Life Annuity, a Participant may elect a joint and 50% survivor annuity or a joint and 100% survivor annuity by filing a Distribution Election with the Committee, or its delegee, no later than 30 days before the date that payments would
otherwise commence as a Single Life Annuity, provided that such survivor annuities are actuarially equivalent to the Single Life Annuity at time of commencement. If the annuity form of payment is other than a Single Life Annuity, the
Participant’s benefit shall be adjusted as provided in Section 4.06 of the Retirement Plan (or 

  

 6 

	 	 
such successor section) to reflect such different payment form. In the event that the other annuity payment form is not actuarially equivalent to the Single Life Annuity after the adjustments
provided under Section 4.06 of the Retirement Plan (or such successor section) are applied, the Participant’s Distribution Election shall be void and his or her benefit shall be paid in the form of a Single Life Annuity.

  

	 	(b)	 In the event a Participant dies while in active service with the Company, the Participant’s beneficiary for purposes of Section 4.07 of
the Retirement Plan (or such successor section), if any, shall receive a monthly payment for the life of the beneficiary commencing on the earliest date that the Participant’s beneficiary could have commenced payment under the Retirement Plan.
The amount of benefit payable to such beneficiary shall be equal to the excess, if any, of (i) the monthly income which would have been payable to such beneficiary under Section 4.07 of the Retirement Plan (or such successor section) based
on the hypothetical retirement benefit as calculated under clause (a) of Section 2.02 hereof over (ii) the sum of the following amounts: 

 

	 	(A)	 the amount actually payable to such beneficiary under the Retirement Plan; 

 

	 	(B)	 the amount payable to such beneficiary under the ITT Retirement Plan or any other defined benefit plan maintained by ITT Industries, Inc. as
constituted on January 1, 2000 (or any successor thereto), the Company or any Associated Company with respect to any service which is recognized 

 

 7 

	 	 
as Benefit Service for purposes of the computation of benefits under the Plan; and 

  

	 	(C)	 the amount payable to such beneficiary under any nonqualified defined benefit plan maintained by ITT Industries, Inc. as constituted on
January 1, 2000 (or any successor thereto), the Company or any Associated Company with respect to any service which is recognized as Benefit Service for purposes of the computation of benefits under the Retirement Plan.

  

	 	(c)	 Notwithstanding the foregoing paragraphs (a) and (b) of this Section 2.04, if the lump sum value of the benefits payable to or on
behalf of a Participant under this Article II, determined by using the interest rate and mortality table assumptions under the Retirement Plan for purposes of determining lump sum payments is less than $15,000, then such lump sum amount shall
be paid to such Participant, or such Participant’s beneficiary, as the case may be, as soon as practicable following the date such benefits would otherwise have commenced, in lieu of an annuity form of payment. If the Participant has not
attained age 55 at the time the lump sum is payable, the lump sum shall be the value of the benefit that would have been payable to the Participant at age 55 if the Participant had received a Single Life Annuity. If the Participant has
attained age 55 at the time the lump sum is payable, the lump sum shall be the value of the benefit that would have been payable immediately to the Participant in the form of a Single Life Annuity. 

 

	 	(d)	 No distribution under this Section 2.04 that is made on account of a Participant’s Separation from Service shall be made earlier than the
end of the Separation 

  

 8 

	 	 
Delay Period if the distribution is on account of such Separation from Service and at that date the Participant is a Specified Employee; provided that, such delay in payment shall not apply to
any portion of a distribution that is excepted from such delay under the Code Section 409A Rules as a Short-Term Deferral. 

  

	2.05	 Beneficiary. In the event a benefit commences to be paid under this Article II to the Participant in a form other than a Single
Life Annuity the Participant’s retirement or other termination of employment with the Company, other than by reason of death, the Participant may not change the beneficiary under this Plan after commencement. 

 

	2.06	 Restoration to Service. If permitted by the Code Section 409A Rules as in effect at the time, at the Company’s election if a
Participant who retired or otherwise terminated employment with the Company is restored to service, any payment of a benefit hereunder (a) shall cease and (b) upon his subsequent retirement or termination, his benefits hereunder shall be
recomputed in accordance with the provisions of this Article II and reduced by the equivalent actuarial value (as determined in accordance with the restoration of service provisions in Section 4.11(c) of the Retirement Plan (or such
successor section)), of the benefit payments previously paid under the Plan, if any; provided that, the timing of the payments at that time shall be made in accordance with Section 2.04 with respect to the then Separation from Service so as to
comply with the Code Section 409A Rules. 

 ARTICLE III 

GENERAL PROVISIONS 
  

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	3.01	 Funding 

  

	 	(a)	 All amounts payable in accordance with this Plan shall constitute a general unsecured obligation of the Company. Such amounts, as well as any
administrative costs relating to the Plan, shall be paid out of the general assets of the Company, to the extent not paid from the assets of any trust established pursuant to paragraph (b) below. 

 

	 	(b)	 The Company may, for administrative reasons, establish a grantor trust for the benefit of Participants in the Plan. The assets placed in said trust
shall be held separate and apart from other Company funds, and shall be used exclusively for the purposes set forth in the Plan and the applicable trust agreement, subject to the following conditions: 

 

	 	(i)	 the creation of said trust shall not cause the Plan to be other than “unfunded” for purposes of Title I of ERISA;

  

	 	(ii)	 the Company shall be treated as “grantor” of said trust for purposes of Section 677 of the Code; and 

 

	 	(iii)	 the agreement of said trust shall provide that its assets may be used upon the insolvency or bankruptcy of the Company to satisfy claims of the
Company’s general creditors, and that the rights of such general creditors are enforceable by them under federal and state law. 

  

	3.02	 Duration of Benefits. Benefits shall accrue under the Plan on behalf of a Participant only for so long as the provisions of
Section 415 or 401(a)(17) of the Code limit the retirement 

  

 10 

	 	 
benefits that are payable under the Retirement Plan or deferrals of Compensation under the Rayonier Inc. Excess Savings and Deferred Compensation Plan reduce such retirement benefits.

  

 11 

 ARTICLE IV 

ADMINISTRATION 
  

	4.01	 Discontinuance, Amendment, and Termination. The Compensation and Management Development Committee of the Board of Directors reserves the
right to modify, amend, in whole or in part, discontinue benefit accrual under, or terminate the Plan at any time. However, no modification or amendment shall be made to Section 4.02, and no modification, discontinuance, amendment or
termination shall adversely affect the right of any Participant to receive the benefits accrued as of the date of such modification, discontinuance, amendment, or termination. 

 

	4.02	 Vesting Upon Termination or Discontinuance. If the Company terminates the Plan, or discontinues benefit accruals thereunder, each
Participant shall be fully vested in his accrued benefit; for purposes of the foregoing, “accrued benefit” shall mean the value of a Participant’s benefit under the Plan, as of the date of termination or discontinuance, based upon the
Participant’s Compensation and Credited Service (as that term is defined in the Retirement Plan) accrued as of such date. Benefits under the Plan shall be paid in the manner and at the times indicated in Article II, unless the Compensation
and Management Development Committee of the Board of Directors shall determine otherwise, in accordance with Code Section 409A Rules. The Plan will be deemed to be terminated when all the liabilities of the Plan have been discharged.

  

 12 

	4.03	 Special Provisions Upon Change in Control. Notwithstanding any provision of this Plan to the contrary, upon the occurrence of a Change in
Control the benefit that would become payable to or on behalf of a Participant under Article II as if the Participant terminated employment with the Company on the date of the Change in Control shall become payable. All benefits previously
payable and the benefits that become payable under this Section 4.03 shall be paid in a lump sum determined in accordance with Section 2.04(c), but subject to delay as provided in Section 2.04(d). If the Participant has already
commenced receipt of benefits at the time the lump sum becomes payable, the lump sum shall be the remaining unpaid value of the benefit in the form of payment elected by the Participant. 

 

	4.04	 Administration and Interpretation. Full power and authority to construe, interpret and administer the Plan shall be vested in the
Committee. Any interpretation of the Plan by the Committee or any administrative act by the Committee shall be final and binding on all Participants and beneficiaries. All rules relating to the quorum of the Committee and to the conduct of its
business shall also apply to the Committee in administering this Plan. 

  

	4.05	 Appointment of Subcommittees. The members of the Committee may appoint from their number such committees with such powers as they shall
determine, may authorize one or more of their number or any agent to execute or deliver any instrument or instruments in their behalf, and may employ such counsel, agents and other services as they may require in carrying out their duties. Subject
to the limitations of the Plan, the Committee shall, from time to time, establish rules and regulations for the administration of the Plan and 

 

 13 

	 	 
the transaction of its business and shall maintain or cause to be maintained all records which it shall deem necessary for purposes of the Plan. 

 

	4.06	 No Contract of Employment. The establishment of the Plan shall not be construed as conferring any legal rights upon any person for a
continuation of employment, nor shall it interfere with the rights of the Company to discharge any employee and to treat him without regard to the effect which such treatment might have upon him as a Participant in the Plan.

  

	4.07	 Facility of Payment. In the event that the Committee shall find that a Participant is unable to care for his affairs because of illness or
accident, the Committee may direct that any benefit payment due him, unless claim shall have been made therefor by a duly appointed legal representative, be paid to his spouse, a child, a parent or other blood relative, or to a person with whom he
resides, and any such payment so made shall be a complete discharge of the liabilities of the Company and the Plan therefor. 

  

	4.08	 Withholding Taxes. The Company shall have the right to deduct from each payment to be made under the Plan and any trust any required
withholding taxes. 

  

	4.09	 Nonalienation. Subject to any applicable law, no benefit under the Plan shall be subject in any manner to anticipation, alienation, sale,
transfer, assignment, pledge, encumbrance or charge, and any attempt to do so shall be void, nor shall any such benefit be in any 

 

 14 

	 	 
manner liable for or subject to garnishment, attachment, execution or levy, or liable for or subject to the debts, contracts, liabilities, engagements or torts of a Participant.

  

	4.10	 Forfeiture for Cause. In the event that a Participant shall at any time be convicted of a crime involving dishonesty or fraud on the part of
such Participant in his relationship with the Company, all benefits that would otherwise be payable to him or to a beneficiary under the Plan shall be forfeited. 

 

	4.11	 Claims Procedure. 

  

	 	(a)	 Initial Review and Decision. Any claim for benefits under, or other relief with respect to, this Plan shall be submitted in writing to the
Committee’s delegee or in such manner or to such person or other entity as the Committee may from time to time provide. If any claim is wholly or partially denied, the claimant shall be given notice in writing within a reasonable period of time
after receipt of the claim by the Plan (not to exceed 90 days after receipt of the claim or, if special circumstances require an extension of time, written notice of the extension shall be furnished to the claimant prior to the end of the initial
90-day period and an additional 90 days will be granted to consider the claim). The notice of denial shall be written in a manner calculated to be understood by the claimant and shall set forth the following information:

  

	 	(i)	 The specific reasons for such denial; 

  

	 	(ii)	 Specific reference to pertinent Plan provisions on which the denial is based; 

 

 15 

	 	(iii)	 A description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material or
information is necessary; and 

  

	 	(iv)	 A statement that any appeal the claimant wishes to make of the denial must be in writing to the Committee within sixty (60) days after receipt
of the notice of the denial of benefits. The notice must further advise the claimant of his or her right to bring a civil action under Section 502(a) of ERISA following an adverse benefit determination on review. 

 

	 	(b)	 Review and Decision on Appeal. Any appeal of a claim for benefits under the Plan shall be submitted to the Committee. Any such appeal shall
be submitted in writing or in such other manner as the Committee may from time to time provide. If a claimant should appeal, he or she, or his or her duly authorized representative, may submit to the Committee written comments, documents, records
and other information relating to the claim. The claimant, or his or her duly authorized representative, may review all documents, records and other information relevant to the claimant’s claim. 

The Committee shall reexamine all facts to the appeal taking into account all comments, documents, records and other
information submitted by the claimant relating to the claim, regardless of whether such information was submitted or considered in the initial benefit determination, and make a final determination as to whether the denial is justified under the
circumstances. 
 With respect to the Committee’s review of the appeal, the following shall apply:

  

 16 

 If the Committee holds regularly scheduled meetings at least quarterly, the
Committee shall consider a claimant’s written request for review at its next regularly scheduled meeting following receipt of the claimant’s request, provided, however, that, if the claimant’s request is received less than 30 days
before the Committee’s next regularly scheduled meeting, such request shall be considered at the second regularly scheduled Committee meeting following receipt of the claimant’s written request for review. If the Committee determines that
an extension of time for processing is required, written notice of extension shall be furnished to the claimant prior to the termination of the initial period. In no event shall the Committee render a decision respecting a denial for a claim later
than the third regularly scheduled Committee meeting following receipt of the claimant’s written request for review. 

If the Committee does not have a meeting scheduled within 90 days of receipt of a claimant’s written request for
review, the Committee shall advise the claimant of its decision within 60 days of receipt of the claimant’s request, unless special circumstances would make rendering a decision within such 60 days unfeasible. If the Committee determines that
an extension of time for processing is required, written notice of extension shall be furnished to the claimant prior to the termination of the initial 60-day period. In no event shall the Committee render a decision respecting a denial for a claim
for benefits later than 120 days after its receipt of a request for review. 
 If the appeal is denied, the
Committee’s written notification to the claimant shall set forth: 
  

 17 

	 	(1)	 The specific reason for the adverse determination; 

 

	 	(2)	 Specific reference to pertinent Plan provisions on which the Committee based its adverse determination; 

 

	 	(3)	 A statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies, of, all documents, records
and other information relevant to the claimant’s claim for benefits; and 

  

	 	(4)	 A statement that the claimant has a right to bring a civil action under Section 502(a) of ERISA. 

A decision of the Committee shall be binding on all persons affected thereby. 

 

	4.12	 Construction 

  

	 	(a)	 The Plan shall be construed, regulated and administered under the laws of the State of Florida, to the extent not preempted by ERISA or other
federal law. 

  

	 	(b)	 When used herein, the masculine pronoun shall include the feminine pronoun, and the singular shall include the plural, where appropriate.

  

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 Adopted, as amended, effective the      day of
                    , 2010. 
  

									
	 	 	 	  	 	  	 RAYONIER INC.

					
	 Attest:
	 	 /s/ Shelby Pyatt
	  		  	 By:
	  	 /s/ W. Edwin Frazier

		 		  		  		  	 W. Edwin Frazier

					
	 Title:
	 	 Director Compensation, Benefits

and Employee Services
	  		  	 Title:
	  	 Senior Vice President, Administration

  

 19

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