Document:

Security Agreement

 Exhibit 10.4 
 SECURITY AGREEMENT 
 This SECURITY AGREEMENT dated as of December 17, 2010
(as amended, amended and restated, supplemented or otherwise modified from time to time in accordance with the provisions hereof and the Indenture (as defined below), this “Security Agreement”), among First Data Corporation, a
Delaware corporation (the “Issuer”), each of the Subsidiaries (as defined below) of the Issuer listed on Annex A hereto or that becomes a party hereto pursuant to Section 8.14 hereof (each such Subsidiary being a
“Subsidiary Grantor” and, collectively, the “Subsidiary Grantors”; the Subsidiary Grantors and the Issuer are referred to collectively as the “Grantors”), and Wells Fargo Bank, National Association,
in its capacity as collateral agent (in such capacity and together with any successors in such capacity, the “Collateral Agent”), pursuant to an indenture, dated as of December 17, 2010 (as amended, amended and restated,
supplemented or otherwise modified from time to time, the “Indenture”) among the Issuer, each Guarantor (as defined in the Indenture) and Wells Fargo Bank, National Association, in its capacity as trustee (the
“Trustee”) on behalf of the holders of the Notes (as defined below) (the “Holders”). 

W I T N E S S E T H : 

WHEREAS, pursuant to the Indenture, the Issuer has issued, or will issue $1,999,703,000 aggregate principal amount of 8.25% Senior Second
Lien Notes due 2021 (the “Cash-Pay Notes”) and $1,000,000,000 aggregate principal amount of 8.75%/10.00% PIK Toggle Senior Second Lien Notes due 2022 (the “Toggle Notes”, and, together with the Cash-Pay Notes and
any Additional Notes issued pursuant to the Indenture, the “Notes”) upon the terms and subject to the conditions set forth therein; 
 WHEREAS, each Guarantor has, pursuant to the guarantee provisions under the Indenture, unconditionally guaranteed the Obligations (as defined below); 

WHEREAS, each Grantor will receive substantial benefits from the proceeds of the Notes and each is, therefore, willing to enter into this
Security Agreement; 
 WHEREAS, this Security Agreement is given by each Grantor in favor of the Collateral Agent for the
benefit of the Secured Parties (as defined below) to secure the payment and performance of all of the Obligations; and 

WHEREAS, from time to time after the date hereof, the Issuer may, subject to the terms and conditions of the Indenture and the Security
Documents, incur Additional Second Lien Obligations (including Additional Notes issued under the Indenture), that the Issuer desires to secure by the Collateral on a pari passu basis with the Notes; 

NOW, THEREFORE, in consideration of the foregoing premises and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, each Grantor and the Collateral Agent hereby agree as follows: 
 1. Defined Terms.

 (a) Unless otherwise defined herein, terms defined in the Indenture and used herein shall have the meanings given to them in
the Indenture. 

 (b) Terms used herein without definition that are defined in the UCC have the meanings
given to them in the UCC, including the following terms (which are capitalized herein): Account, Chattel Paper, Commodity Contract, Documents, Instruments, Inventory, Letter-of-Credit Right, Security Entitlement, Supporting Obligation and Tangible
Chattel Paper. 
 (c) The following terms shall have the following meanings: 

“Additional Second Lien Agreement” shall mean any indenture, credit agreement or other agreement, if any, pursuant to
which any Grantor has or will incur Additional Second Lien Obligations; provided that, in each case, the Indebtedness thereunder has been designated as Additional Second Lien Obligations pursuant to and in accordance with Section 8.16.

 “Additional Second Lien Obligations” shall mean any principal, interest (including any interest accruing
subsequent to the filing of a petition in bankruptcy, reorganization or similar proceeding with respect to any Grantor, whether or not such interest is an allowed claim under applicable state, federal or foreign law), premium, penalties, fees,
indemnifications, reimbursements, damages and other liabilities, and guarantees of payment of such principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities payable under any Additional Second Lien
Agreement, in each case, that have been designated as Additional Second Lien Obligations pursuant to and in accordance with Section 8.16. 
 “Additional Second Lien Secured Parties” shall mean the holders from time to time of Additional Second Lien Obligations. 

“Additional Second Lien Secured Party Consent” shall mean a consent in the form of Annex C to this Security Agreement
executed by the Authorized Representative of any holders of Additional Second Lien Obligations pursuant to Section 8.16. 

“Agreement” shall have the meaning assigned to such term in the Preamble hereof. 

“Authorized Representative” means (i) in the case of the Obligations securing the Notes or the Holders, the Trustee
and (ii) in the case of any Series of Additional Second Lien Obligations or Additional Second Lien Secured Parties that become subject to the Intercreditor Agreement, the Authorized Representative named for such Series in the applicable joinder
agreement. 
 “Change in Law” shall mean (a) the adoption of any law, treaty, order, policy, rule or
regulation after the date of the Security Agreement, (b) any change in any law, treaty, order, policy, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the date of the Security Agreement or
(c) compliance by any Secured Party with any guideline, request, directive or order issued or made after the date hereof by any central bank or other governmental or quasi-governmental authority (whether or not having the force of law).

  
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 “Collateral” shall have the meaning provided in Section 2.

 “Collateral Account” shall mean any collateral account established by the Collateral Agent as provided in
Section 5.1 or Section 5.3. 
 “Collateral Agent” shall have the meaning provided in the preamble to
this Security Agreement. 
 “Contractual Requirement” shall mean (a) any applicable provision of any
material law, statute, rule, regulation, order, writ, injunction or decree of any court or governmental instrumentality or (b) any of the terms, covenants, conditions or provisions of any material indenture, loan agreement, lease agreement,
mortgage, deed of trust, agreement or other material instrument to which such Grantor or any of the Restricted Subsidiaries is a party or by which it or any of its property or assets is bound. 

“Control” shall mean “control,” as such term is defined in Section 9-104 or 9-106, as applicable, of the
UCC. 
 “Copyright License” shall mean any written agreement, now or hereafter in effect, granting any right to
any third party under any copyright now or hereafter owned by any Grantor (including all Copyrights) or that any Grantor otherwise has the right to license, or granting any right to any Grantor under any copyright now or hereafter owned by any third
party, and all rights of any Grantor under any such agreement, including those listed on Schedule 1. 

“copyrights” shall mean, with respect to any Person, all of the following now owned or hereafter acquired by such
Person: (i) all copyright rights in any work subject to the copyright laws of the United States or any other country, whether as author, assignee, transferee or otherwise, and (ii) all registrations and applications for registration of any
such copyright in the United States or any other country, including registrations, recordings, supplemental registrations and pending applications for registration in the United States Copyright Office. 

“Copyrights” shall mean all copyrights now owned or hereafter acquired by any Grantor, including those listed on
Schedule 2. 
 “Credit Agreement Collateral Agent” shall mean Credit Suisse AG, Cayman Islands
Branch (formerly known as Credit Suisse, Cayman Islands Branch), as collateral agent for the “Secured Parties” as defined in the Senior Credit Facility. 
 “Credit Agreement Obligations” shall have the meaning assigned to such term in the Intercreditor Agreement. 
 “Discharge” shall have the meaning assigned to such term in the Intercreditor Agreement. 

  
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 “Domestic Subsidiary” shall mean each Subsidiary of the Issuer that is
organized under the laws of the United States, any state thereof, or the District of Columbia. 
 “equipment”
shall mean all “equipment,” as such term is defined in Article 9 of the UCC, now or hereafter owned by any Grantor or to which any Grantor has rights and, in any event, shall include all machinery, equipment, furnishings, movable trade
fixtures and vehicles now or hereafter owned by any Grantor or to which any Grantor has rights and any and all Proceeds, additions, substitutions and replacements of any of the foregoing, wherever located, together with all attachments, components,
parts, equipment and accessories installed thereon or affixed thereto; but excluding equipment to the extent it is subject to a Lien, in each case permitted by Section 4.12 of the Indenture and the terms of the Indebtedness secured by such Lien
prohibit assignment of, or granting of a security interest in, such Grantor’s rights and interests therein (other than to the extent that any such prohibition would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of
the UCC (or any successor provision or provisions) of any relevant jurisdiction or any other applicable law), provided, that immediately upon the repayment of all Indebtedness secured by such Lien, such Grantor shall be deemed to have granted
a Security Interest in all the rights and interests with respect to such equipment. 
 “Event of Default” shall
have the meaning assigned to such term in the Indenture. 
 “Excluded Property” shall mean all Settlement
Assets. 
 “Excluded Stock and Stock Equivalents” shall mean (i) any Stock or Stock Equivalents with
respect to which, in the reasonable judgment of the Issuer (confirmed in writing by notice to the Collateral Agent), the cost or other consequences (including any adverse tax consequences) of pledging such Stock or Stock Equivalents in favor of the
Secured Parties shall be excessive in view of the benefits to be obtained by the Secured Parties therefrom, (ii) solely in the case of any pledge of Stock and Stock Equivalents of any Foreign Subsidiary or any Domestic Subsidiary substantially
all of the assets of which consist of Stock or Stock Equivalents of Foreign Subsidiaries to secure the Obligations, any Stock or Stock Equivalents of any class of such Foreign Subsidiary or such Domestic Subsidiary in excess of 65% of the
outstanding Stock or Stock Equivalents of such class (such percentage to be adjusted upon any Change in Law as may be required to avoid adverse U.S. federal income tax consequences to the Issuer or any Subsidiary), (iii) any Stock or Stock
Equivalents to the extent the pledge thereof would violate any applicable Requirement of Law, (iv) in the case of (A) any Stock or Stock Equivalents of any Subsidiary to the extent such Stock or Stock Equivalents are subject to a Lien
permitted by the Indenture or (B) any Stock or Stock Equivalents of any Subsidiary that is not wholly owned by the Issuer and its Subsidiaries at the time such Subsidiary becomes a Subsidiary, any Stock or Stock Equivalents of each such
Subsidiary described in clause (A) or (B) to the extent that (1) a pledge thereof to secure the Obligations is prohibited by any applicable Contractual Requirement (other than customary non-assignment provisions which are ineffective
under the Uniform Commercial Code or other applicable law), (2) any Contractual Requirement prohibits such a pledge without the consent of any other party; provided that this clause (2) shall not apply if (x) such other party
is a Grantor or wholly owned Subsidiary or (y) consent has been obtained to consummate such pledge (it being understood that the foregoing shall not be deemed to obligate the Issuer or any Subsidiary to obtain any such consent) and for so long
as such Contractual 

  
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Requirement or replacement or renewal thereof is in effect, or (3) a pledge thereof to secure the Obligations would give any other party (other than a Grantor or wholly owned Subsidiary) to
any contract, agreement, instrument or indenture governing such Stock or Stock Equivalents the right to terminate its obligations thereunder (other than customary non-assignment provisions which are ineffective under the Uniform Commercial Code or
other applicable law) and (v) any Stock or Stock Equivalents of any Subsidiary to the extent that (A) the pledge of such Stock or Stock Equivalents would result in adverse tax consequences to the Issuer or any Subsidiary as reasonably
determined by the Issuer and (B) such Stock or Stock Equivalents have been identified in writing to the Collateral Agent by an Officer of the Issuer. 
 “General Intangibles” shall mean all “general intangibles” as such term is defined in Article 9 of the UCC and, in any event, including with respect to any Grantor, all
contracts, agreements, instruments and indentures in any form, and portions thereof, to which such Grantor is a party or under which such Grantor has any right, title or interest or to which such Grantor or any property of such Grantor is subject,
as the same may from time to time be amended, supplemented or otherwise modified, including (a) all rights of such Grantor to receive moneys due and to become due to it thereunder or in connection therewith, (b) all rights of such Grantor
to receive proceeds of any insurance, indemnity, warranty or guarantee with respect thereto, (c) all claims of such Grantor for damages arising out of any breach of or default thereunder and (d) all rights of such Grantor to terminate,
amend, supplement, modify or exercise rights or options thereunder, to perform thereunder and to compel performance and otherwise exercise all remedies thereunder, in each case to the extent the grant by such Grantor of a Security Interest pursuant
to this Security Agreement in its right, title and interest in any such contract, agreement, instrument or indenture (i) is not prohibited by such contract, agreement, instrument or indenture without the consent of any other party thereto
(other than a Grantor), (ii) would not give any other party (other than a Grantor) to any such contract, agreement, instrument or indenture the right to terminate its obligations thereunder or (iii) is permitted with consent if all
necessary consents to such grant of a Security Interest have been obtained from the other parties thereto (other than to the extent that any such prohibition referred to in clauses (i), (ii) and (iii) would be rendered ineffective pursuant
to Sections 9-406, 9-407, 9-408 or 9-409 of the Uniform Commercial Code (or any successor provision or provisions) of any relevant jurisdiction or any other applicable law) (it being understood that the foregoing shall not be deemed to obligate such
Grantor to obtain such consents), provided that the foregoing limitation shall not affect, limit, restrict or impair the grant by such Grantor of a Security Interest pursuant to this Security Agreement in any Account or any money or other
amounts due or to become due under any such contract, agreement, instrument or indenture. 
 “Governmental
Authority” shall mean any nation, sovereign or government, any state, province, territory or other political subdivision thereof, and any entity or authority exercising executive, legislative, judicial, regulatory or administrative
functions of or pertaining to government, including a central bank or stock exchange. 
 “Grantor” shall have
the meaning assigned to such term in the preamble hereof. 
 “Indenture” shall have the meaning assigned to
such term in the recitals hereto. 
 “Indenture Party” means the Issuer and the Guarantors. 

  
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 “Intellectual Property” shall mean all of the following now owned or
hereafter acquired by any Grantor: (A) all Copyrights, Trademarks and Patents, and (B) all rights, priorities and privileges relating to intellectual property, whether arising under United States, multinational or foreign laws or otherwise
now owned or hereafter acquired, including (a) all information used or useful arising from the business including all goodwill, trade secrets, trade secret rights, know-how, customer lists, processes of production, ideas, confidential business
information, techniques, processes, formulas and all other proprietary information, and (b) rights, priorities and privileges relating to the Copyrights, the Patents, the Trademarks and the Licenses and all rights to sue at law or in equity for
any infringement or other impairment thereof, including the right to receive all proceeds and damages therefrom, in each case to the extent the grant by such Grantor of a Security Interest pursuant to this Security Agreement in any such rights,
priorities and privileges relating to intellectual property (i) is not prohibited by any contract, agreement or other instrument governing such rights, priorities and privileges without the consent of any other party thereto (other than a
Grantor), (ii) would not give any other party (other than a Grantor) to any such contract, agreement or other instrument the right to terminate its obligations thereunder or (iii) is permitted with consent if all necessary consents to such
grant of a Security Interest have been obtained from the relevant parties (other than to the extent that any such prohibition referred to in clauses (i), (ii) and (iii) would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408
or 9-409 of the UCC (or any successor provision or provisions) of any relevant jurisdiction or any other applicable law) (it being understood that the foregoing shall not be deemed to obligate such Grantor to obtain such consents). 

“Intercreditor Agreement” shall have the meaning provided in Section 8.1. 

“Investment Property” shall mean all Securities (whether certificated or uncertificated), Security Entitlements and
Commodity Contracts of any Grantor (other than (i) as pledged pursuant to the Pledge Agreement and (ii) solely with respect to the Obligations, any Stock or Stock Equivalents of any Foreign Subsidiary in excess of 65% of the outstanding
voting class of such Stock or Stock Equivalents), whether now or hereafter acquired by any Grantor, except, in each case, to the extent the grant by a Grantor of a Security Interest therein pursuant to this Security Agreement in its right, title and
interest in any such Investment Property (i) is prohibited by any contract, agreement, instrument or indenture governing such Investment Property without the consent of any other party thereto (other than a Grantor) unless such consent has been
expressly obtained, or (ii) would give any other party (other than a Grantor) to any such contract, agreement, instrument or indenture the right to terminate its obligations thereunder (other than to the extent that any such prohibition
referred to in clauses (i) and (ii) would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor provision or provisions) of any relevant jurisdiction or any other applicable law) (it being
understood that the foregoing shall not be deemed to obligate any Grantor to obtain any such consents referred to in clauses (i) or (ii) above). 
 “Issuer” shall have the meaning assigned to such term in the preamble hereof. 
 “License” shall mean any Patent License, Trademark License, Copyright License or other license or sublicense to which any Grantor is a party. 

  
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 “Material Adverse Effect” shall mean a circumstance or condition affecting
the business, assets, operations, properties or financial condition of the Issuer and its Subsidiaries, taken as a whole, that would, individually or in the aggregate, materially adversely affect (a) the ability of the Issuer and the other
Grantors, taken as a whole, to perform their payment obligations under this Agreement or any of the other Notes Documents or (b) the rights and remedies of the Secured Parties under this Agreement or any of the other Notes Documents.

 “Notes Documents” means the Notes, the Indenture, the Security Documents and the Intercreditor Agreement and
any other related documents or instruments executed and delivered pursuant to the Indenture or any Security Document, in each case, as such agreements may be amended, restated, supplemented or otherwise modified from time to time. 

“Obligations” shall mean (i) any principal, interest (including any interest accruing subsequent to the filing of a
petition in bankruptcy, reorganization or similar proceeding with respect to any Grantor, whether or not such interest is an allowed claim under applicable state, federal or foreign law), premium, penalties, fees, indemnifications, reimbursements,
damages and other liabilities, and guarantees of payment of such principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities payable to any Secured Party under the Notes, the Indenture and any other Notes
Documents and all other obligations, covenants and duties of any Indenture Party arising under any Notes Document or otherwise with respect to any Notes Document and (ii) any Additional Second Lien Obligations owing to any holder of
Additional Second Lien Obligations (that has been designated as Additional Second Lien Obligations pursuant to Section 8.16) under any Additional Second Lien Agreement. 
 “Patent License” shall mean any written agreement, now or hereafter in effect, granting to any third party any right to make, use or sell any invention on which a patent, now or hereafter
owned by any Grantor (including all Patents) or that any Grantor otherwise has the right to license, is in existence, or granting to any Grantor any right to make, use or sell any invention on which a patent, now or hereafter owned by any third
party, is in existence, and all rights of any Grantor under any such agreement, including those listed on Schedule 3. 
 “patents” shall mean, with respect to any Person, all of the following now owned or hereafter acquired by such Person: (a) all letters patent of the United States or the equivalent
thereof in any other country, all registrations and recordings thereof, and all applications for letters patent of the United States or the equivalent thereof in any other country, including registrations, recordings and pending applications in the
United States Patent and Trademark Office or any similar offices in any other country, and (b) all reissues, continuations, divisions, continuations-in-part, renewals or extensions thereof, and the inventions disclosed or claimed therein,
including the right to make, use and/or sell the inventions disclosed or claimed therein. 
 “Patents” shall
mean all patents now owned or hereafter acquired by any Grantor, including those listed on Schedule 4. 

“Pledge Agreement” means that certain pledge agreement dated December 17, 2010 (as amended, amended and restated,
supplemented or otherwise modified from time to time in accordance with the provisions thereof and the Indenture), among the Grantors and the Collateral Agent. 

  
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 “Proceeds” shall mean all “proceeds” as such term is defined in
Article 9 of the UCC and, in any event, shall include with respect to any Grantor, any consideration received from the sale, exchange, license, lease or other disposition of any asset or property that constitutes Collateral, any value received as a
consequence of the possession of any Collateral and any payment received from any insurer or other Person or entity as a result of the destruction, loss, theft, damage or other involuntary conversion of whatever nature of any asset or property that
constitutes Collateral, and shall include (a) all cash and negotiable instruments received by or held on behalf of the Collateral Agent, (b) any claim of any Grantor against any third party for (and the right to sue and recover for and the
rights to damages or profits due or accrued arising out of or in connection with) (i) past, present or future infringement of any Patent now or hereafter owned by any Grantor, or licensed under a Patent License, (ii) past, present or
future infringement or dilution of any Trademark now or hereafter owned by any Grantor or licensed under a Trademark License or injury to the goodwill associated with or symbolized by any Trademark now or hereafter owned by any Grantor,
(iii) past, present or future breach of any License and (iv) past, present or future infringement of any Copyright now or hereafter owned by any Grantor or licensed under a Copyright License and (c) any and all other amounts from time
to time paid or payable under or in connection with any of the Collateral. 
 “Requirement of Law” shall mean,
as to any Person, the certificate of incorporation and by-laws or other organizational or governing documents of such Person, and any 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 assets or to which such Person or any of its property or assets is subject. 
 “Secured Parties” shall mean, collectively, (a) the Collateral Agent, (b) each Holder (including the Holders of any Additional Notes issued under and in compliance with the
terms of the Indenture), (c) the beneficiaries of each indemnification obligation undertaken by any Indenture Party under any Notes Document, (d) the Trustee, (e) Additional Second Lien Secured Parties and their Authorized
Representatives; provided that such Additional Second Lien Secured Parties and their Authorized Representatives comply with Section 8.16 hereof and execute an Additional Second Lien Secured Party Consent and (f) the successors and
permitted assigns of each of the foregoing. 
 “Security Agreement” shall have the meaning assigned to such
term in the preamble hereof. 
 “Security Interest” shall have the meaning provided in Section 2.

 “Senior Credit Facility” means that certain Amended and Restated Credit Agreement, dated as of
September 28, 2007, among the Issuer, the lenders from time to time party thereto, Credit Suisse AG, Cayman Islands Branch (formerly known as Credit Suisse, Cayman Islands Branch), as administrative agent and the other parties thereto, as
amended, restated, amended and restated, extended, supplemented or otherwise modified from time to time. 
 “Senior Debt
Documents” shall have the meaning assigned to such term in the Intercreditor Agreement. 

  
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 “Stock” shall mean shares of capital stock or shares in the capital, as
the case may be (whether denominated as common stock or preferred stock or ordinary shares or preferred shares, as the case may be), beneficial, partnership or membership interests, participations or other equivalents (regardless of how designated)
of or in a corporation, partnership, limited liability company or equivalent entity, whether voting or non-voting. 

“Stock Equivalents” shall mean all securities convertible into or exchangeable for Stock and all warrants, options or
other rights to purchase or subscribe for any Stock, whether or not presently convertible, exchangeable or exercisable. 

“Subsidiary” shall have the meaning assigned to such term in the Indenture. 

“Trademark License” shall mean any written agreement, now or hereafter in effect, granting to any third party any right
to use any trademark now or hereafter owned by any Grantor (including any Trademark) or that any Grantor otherwise has the right to license, or granting to any Grantor any right to use any trademark now or hereafter owned by any third party, and all
rights of any Grantor under any such agreement, including those listed on Schedule 5. 

“trademarks” shall mean, with respect to any Person, all of the following now owned or hereafter acquired by such
Person: (i) all trademarks, service marks, trade names, corporate names, company names, business names, fictitious business names, trade styles, trade dress, logos, other source or business identifiers, designs and general intangibles of like
nature, now existing or hereafter adopted or acquired, all registrations and recordings thereof (if any), and all registration and recording applications filed in connection therewith, including registrations and registration applications in the
United States Patent and Trademark Office or any similar offices in any State of the United States or any other country or any political subdivision thereof, and all extensions or renewals thereof, (ii) all goodwill associated therewith or
symbolized thereby and (iii) all other assets, rights and interests that uniquely reflect or embody such goodwill. 

“Trademarks” shall mean all trademarks now owned or hereafter acquired by any Grantor, including those listed on
Schedule 6 hereto; provided that any “intent to use” Trademark applications for which a statement of use has not been filed (but only until such statement is filed) are excluded from this definition. 

“UCC” shall mean the Uniform Commercial Code as from time to time in effect in the State of New York; provided,
however, that, in the event that, by reason of mandatory provisions of law, any of the attachment, perfection or priority of the Collateral Agent’s and the Secured Parties’ security interest in any Collateral is governed by the
Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, the term “UCC” shall mean the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions hereof relating to such
attachment, perfection or priority and for purposes of definitions related to such provisions. 
 (d) The words
“hereof,” “herein,” “hereto” and “hereunder” and words of similar import when used in this Security Agreement shall refer to this Security Agreement as a whole and not to any particular provision of this
Security Agreement, and Section, subsection, 

  
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clause and Schedule references are to this Security Agreement unless otherwise specified. The words “include,” “includes” and “including” shall be deemed to be
followed by the phrase “without limitation.” 
 (e) The meanings given to terms defined herein shall be equally
applicable to both the singular and plural forms of such terms. 
 (f) Where the context requires, terms relating to the
Collateral or any part thereof, when used in relation to a Grantor, shall refer to such Grantor’s Collateral or the relevant part thereof. 
 2. Grant of Security Interest. 
 (a) Each Grantor hereby bargains, sells,
conveys, assigns, sets over, mortgages, pledges, hypothecates and transfers to the Collateral Agent, for the benefit of the Secured Parties, and grants to the Collateral Agent, for the benefit of the Secured Parties, a lien on and security interest
in (the “Security Interest”), all of its right, title and interest in, to and under all of the following property now owned or at any time hereafter acquired by such Grantor or in which such Grantor now has or at any time in the
future may acquire any right, title or interest (collectively, the “Collateral”), as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of
the Obligations: 
 (i) all Accounts; 

(ii) all Chattel Paper; 
 (iii) all Documents; 
 (iv) all equipment and fixtures; 

(v) all General Intangibles; 
 (vi) all Instruments; 
 (vii) all Intellectual Property;

 (viii) all Inventory; 
 (ix) all Investment Property; 
 (x) all Supporting Obligations;

 (xi) all Collateral Accounts; 

(xii) all books and records pertaining to the Collateral; and 

  
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 (xiii) the extent not otherwise included, all Proceeds and products of any
and all of the foregoing; 
 provided, that (x) the Collateral for any Obligations shall not include any (A) Excluded Stock and
Stock Equivalents with respect to such Obligations, (B) Excluded Property or (C) any assets as to which the Collateral Agent and the Issuer have determined that the costs or other consequences (including adverse tax consequences) of
providing a security interest is excessive in view of the benefits to be gained thereby by the Secured Parties and (y) none of the items included in clauses (i) through (xiii) above shall constitute Collateral to the extent (and only
to the extent) that the grant of the Security Interest therein would violate any Requirement of Law applicable to such Collateral. 
 (b) Each Grantor hereby irrevocably authorizes the Collateral Agent and its affiliates, counsel and other representatives, at any time and from time to time, to file or record financing statements,
amendments to financing statements and, with notice to the Issuer, and other filing or recording documents or instruments with respect to the Collateral in such form and in such offices as the Collateral Agent reasonably determines appropriate to
perfect the Security Interests of the Collateral Agent under this Security Agreement, and such financing statements and amendments may describe the Collateral covered thereby as “all assets now owned or hereafter acquired by the Debtor or in
which Debtor otherwise has rights and all proceeds thereof except for Excluded Property and Excluded Stock and Stock Equivalents as defined on Schedule A hereto” or words of similar effect, provided that with respect to fixtures the
Collateral Agent shall only file or record financing statements in the jurisdiction of organization of a Grantor, except in connection with a Mortgage. Each Grantor hereby also authorizes the Collateral Agent and its affiliates, counsel and other
representatives, at any time and from time to time, to file continuation statements with respect to previously filed financing statements. 
 Each Grantor hereby agrees to provide to the Collateral Agent, promptly upon request, any information reasonably necessary to effectuate the filings or recordings authorized by this Section 2(b).

 The Collateral Agent is further authorized to file with the United States Patent and Trademark Office or United States
Copyright Office (or any successor office or any similar office in any other country) such documents as may be necessary or advisable for the purpose of perfecting, confirming, continuing, enforcing or protecting the Security Interest granted
hereunder by each Grantor, without the signature of any Grantor, and naming any Grantor or the Grantors as debtors and the Collateral Agent, as the case may be, as secured party. 

The Security Interests are granted as security only and shall not subject the Collateral Agent or any other Secured Party to, or in any
way alter or modify, any obligation or liability of any Grantor with respect to or arising out of the Collateral. 
 (c)
Notwithstanding anything to the contrary in this Section 2, the term “Collateral”, as it refers to the Collateral securing the Obligations, shall not include any Stock and other securities of a Subsidiary to the extent that the pledge
of such Stock and other securities would result in the Issuer being required to file separate financial statements of such Subsidiary with the SEC, but only to the extent necessary to not be subject to such requirement and only for

  
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so long as such requirement is in existence and only with respect to the relevant Notes affected; provided that neither the Issuer nor any Subsidiary shall take any action in the form of a
reorganization, merger or other restructuring a principal purpose of which is to provide for the release of the Lien on any Stock pursuant to this clause (c). In addition, in the event that Rule 3-16 of Regulation S-X under the Securities Act of
1933, as amended (“Rule 3-16”), is amended, modified or interpreted by the SEC to require (or is replaced with another rule or regulation, or any other law, rule or regulation is adopted, which would require) the filing with the SEC
(or any other Governmental Authority) of separate financial statements of any Subsidiary of the Issuer due to the fact that such Subsidiary’s Stock secures the Obligations affected thereby, then the Stock of such Subsidiary will automatically
be deemed not to be part of the Collateral securing the relevant Obligations affected thereby but only to the extent necessary to not be subject to such requirement and only for so long as required to not be subject to such requirement. In such
event, this Security Agreement may be amended or modified, without the consent of any Secured Party, to the extent necessary to release the Security Interests in favor of the Collateral Agent on the shares of Stock that are so deemed to no longer
constitute part of the Collateral for the relevant Obligations only. In the event that Rule 3-16 is amended, modified or interpreted by the SEC to permit (or is replaced with another rule or regulation, or any other law, rule or regulation is
adopted, which would permit) such Subsidiary’s Stock to secure the Obligations in excess of the amount then pledged without the filing with the SEC (or any other Governmental Authority) of separate financial statements of such Subsidiary, then
the Stock of such Subsidiary will automatically be deemed to be a part of the Collateral for the relevant Obligations. For the avoidance of doubt and notwithstanding anything to the contrary in this Security Agreement, nothing in this clause
(c) shall limit the pledge of such Stock and other securities from securing the Credit Agreement Obligations at all times or from securing any Obligations that are not in respect of securities subject to regulation by the SEC. 

3. Representations and Warranties. 
 Each Grantor hereby represents and warrants to the Collateral Agent and each Secured Party on the date hereof that: 
 3.1 Title; No Other Liens. Except for (a) the Security Interest granted to the Collateral Agent for the benefit of the Secured Parties pursuant to this Security Agreement, (b) the Liens
permitted by the Indenture and (c) any Liens securing Indebtedness which is no longer outstanding or any Liens with respect to commitments to lend which have been terminated, such Grantor owns each item of the Collateral free and clear of any
and all Liens or claims of others. No security agreement, financing statement or other public notice with respect to all or any part of the Collateral that evidences a Lien securing any material Indebtedness is on file or of record in any public
office, except such as (i) have been filed in favor of the Collateral Agent for the benefit of the Secured Parties pursuant to this Security Agreement or (ii) are permitted by the Indenture. 

3.2 Perfected Second Priority Liens. 
 (a) This Security Agreement is effective to create in favor of the Collateral Agent, for its benefit and for the benefit of the Secured Parties, legal, valid and enforceable Security Interests in the
Collateral to the extent the enforceability of such obligation with respect to Stock of Foreign Subsidiaries is governed by the UCC, subject to the effects of bankruptcy, insolvency or similar laws affecting creditors’ rights generally and
general equitable principles. 

  
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 (b) Subject to the limitations set forth in clause (c) of this Section 3.2, the
Security Interests granted pursuant to this Security Agreement (i) will constitute valid and perfected Security Interests in the Collateral (as to which perfection may be obtained by the filings or other actions described in clause (A),
(B) or (C) of this paragraph) in favor of the Collateral Agent, for the benefit of the Secured Parties, as collateral security for the Obligations, upon (A) the filing in the applicable filing offices of all financing statements, in
each case, naming each Grantor as “debtor” and the Collateral Agent as “secured party” and describing the Collateral, (B) subject to Section 8.1, delivery to the Collateral Agent (or its bailee) of all Instruments,
Chattel Paper, Certificated Securities and negotiable Documents in each case, properly endorsed for transfer in blank and (C) completion of the filing, registration and recording of a fully executed agreement in the form hereof (or a supplement
hereto) and containing a description of all Collateral constituting Intellectual Property in the United States Patent and Trademark Office (or any successor office) within the three month period (commencing as of the date hereof) or, in the case of
Collateral constituting Intellectual Property acquired after the date hereof, thereafter pursuant to 35 USC § 261 and 15 USC § 1060 and the regulations thereunder with respect to United States Patents and United States registered
Trademarks and in the United States Copyright Office (or any successor office) within the one month period (commencing as of the applicable date of acquisition or filing) or, in the case of Collateral constituting Intellectual Property acquired
after the date hereof, thereafter with respect to United States registered Copyrights pursuant to 17 USC § 205 and the regulations thereunder as soon as reasonably practicable, and otherwise as may be required pursuant to the laws of any
other necessary jurisdiction to the extent that a security interest may be perfected by such filings, registrations and recordings, and (ii) are prior or equal to all other Liens on the Collateral other than Liens permitted pursuant to
Section 4.12 of the Indenture. 
 (c) Notwithstanding anything to the contrary herein, no Grantor shall be required to
perfect the Security Interests granted by this Security Agreement (including Security Interests in cash, cash accounts and Investment Property) by any means other than by (i) filings pursuant to the Uniform Commercial Code of the relevant
State(s), (ii) filings approved by United States government offices with respect to Intellectual Property and (iii) subject to Section 8.1, delivery to the Collateral Agent (or its bailee) to be held in its possession of all
Collateral consisting of Tangible Chattel Paper, Instruments or Certificated Securities with a fair market value in excess of $10,000,000 individually. 
 (d) It is understood and agreed that the Security Interests in cash and Investment Property created hereunder shall not prevent the Grantors from using such assets in the ordinary course of their
respective businesses. 

  
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 4. Covenants. 

Each Grantor hereby covenants and agrees with the Collateral Agent and the Secured Parties that, from and after the date of this Security
Agreement until the Obligations are paid in full: 
 4.1 Maintenance of Perfected Security Interest; Further
Documentation. 
 (a) Such Grantor shall maintain the Security Interest created by this Security Agreement as a perfected
Security Interest having at least the priority described in Section 3.1 and shall defend such Security Interest against the claims and demands of all Persons whomsoever, in each case subject to Section 3.2(c). 

(b) Such Grantor will furnish to the Collateral Agent from time to time statements and schedules further identifying and describing the
assets and property of such Grantor and such other reports in connection therewith as the Collateral Agent may reasonably request. 
 (c) Such Grantor will furnish to the Collateral Agent at the time of the delivery of the financial statements provided for in Section 4.03 of the Indenture, a schedule setting forth any additional
Copyrights, Copyright Licenses, Patents, Patent Licenses, Trademarks and Trademark Licenses that are registered (or for which an application to register such items has been filed) with the United States Patent and Trademark Office or the United
States Copyright Office (or any successor to either such office) acquired by any Grantor following the Closing Date (or following the date of the last supplement provided to the Collateral Agent pursuant to this Section 4.1(c)), all in
reasonable detail. 
 (d) Subject to clause (e) below and Section 3.2(c), each Grantor agrees that at any time and
from time to time, at the expense of such Grantor, it will 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
any necessary amendments or continuations thereto) and other documents, including all applicable documents required under Section 3.2(b)(C)), which may be required under any applicable law, or which, subject to the terms of the Intercreditor
Agreement, the Collateral Agent may reasonably request, in order (i) to grant, preserve, protect and perfect the validity and priority of the Security Interests created or intended to be created hereby or (ii) to enable the Collateral
Agent to exercise and enforce its rights and remedies hereunder with respect to any Collateral, including the filing of any financing or continuation statements under the Uniform Commercial Code in effect in any jurisdiction with respect to the
Security Interests created hereby and all applicable documents required under Section 3.2(b)(C), all at the expense of such Grantor. 
 (e) Notwithstanding anything in this Section 4.1 to the contrary, (i) with respect to any assets acquired by such Grantor after the date hereof that are required by the Indenture or any
Additional Second Lien Agreement to be subject to the Lien created hereby or (ii) with respect to any Person that, subsequent to the date hereof, becomes a Subsidiary that is required by the Indenture or any Additional Second Lien Agreement to
become a party hereto, the relevant Grantor after the acquisition or creation thereof shall promptly take all actions required by the Indenture, any Additional Second Lien Agreement or this Section 4.1. 

(f) Each Grantor agrees that, in the event any Grantor takes any action to grant or perfect a Lien in favor of the Credit Agreement
Collateral Agent in any assets, such Grantor shall also take such action to grant or perfect a Lien in favor of the Collateral Agent to secure the Obligations, whether or not such action was requested by the Collateral Agent. 

  
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 4.2 Damage or Destruction of Collateral. The Grantors agree promptly to notify the
Collateral Agent if any material portion of the Collateral is damaged or destroyed in any manner which could reasonably be expected to have a Material Adverse Effect. 
 4.3 Notices. Each Grantor will advise the Collateral Agent on behalf of the holders of any Obligations promptly, in reasonable detail, of any Lien of which it has knowledge (other than the Security
Interests created hereby or Liens permitted under the Indenture) on any of the Collateral which would adversely affect, in any material respect, the ability of the Collateral Agent to exercise any of its remedies hereunder. 

4.4 Changes in Locations, Name, etc. Each Grantor will furnish to the Collateral Agent promptly (an in any event within 30 days of
such change) a written notice of any change (i) in its legal name, (ii) in its jurisdiction of organization or location for purposes of the UCC, (iii) in its identity or type of organization or corporate structure or
(iv) in its Federal Taxpayer Identification Number or organizational identification number. As a result of any such change, each Grantor agrees to take all action necessary to maintain the perfection and priority of the security interest
of the Collateral Agent for the benefit of the Secured Parties in the Collateral. Each Grantor agrees promptly to provide the Collateral Agent with certified organizational documents reflecting any of the changes described in the first sentence of
this paragraph. 
 4.5 Insurance. 
 (a) (i) The Issuer will, and will cause each Subsidiary to, at all times maintain in full force and effect, pursuant to self-insurance arrangements or with insurance companies that the Issuer believes (in
the good faith judgment of the management of the Issuer) are financially sound and responsible at the time the relevant coverage is placed or renewed, insurance in at least such amounts (after giving effect to any self-insurance which the Issuer
believes (in the good faith judgment of management of the Issuer) is reasonable and prudent in light of the size and nature of its business) and against at least such risks (and with such risk retentions) as the Issuer believes (in the good faith
judgment of management of the Issuer) is reasonable and prudent in light of the size and nature of its business; and will furnish to the Collateral Agent, upon written request from the Collateral Agent, information presented in reasonable detail as
to the insurance so carried and (ii) with respect to each Mortgaged Property, Borrower will obtain flood insurance in such total amount as the Collateral Agent may from time to time reasonably require, if at any time the area in which any
improvements located on any Mortgaged Property is designated a “flood hazard area” in any Flood Insurance Rate Map published by the Federal Emergency Management Agency (or any successor agency), and otherwise comply with the National Flood
Insurance Program as set forth in the Flood Disaster Protection Act of 1973, as amended from time to time. 
 5. Remedial
Provisions. 
 5.1 Certain Matters Relating to Accounts. 

(a) At any time after the occurrence and during the continuance of an Event of Default, subject to the terms of the Intercreditor
Agreement, and after giving reasonable notice to the Issuer and any other relevant Grantor, the Collateral Agent shall have the right, but not the 

  
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obligation, to make test verifications of the Accounts in any manner and through any medium that the Collateral Agent reasonably considers advisable, and each Grantor shall furnish all such
assistance and information as the Collateral Agent may require in connection with such test verifications. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured
Party. 
 (b) The Collateral Agent hereby authorizes each Grantor to collect such Grantor’s Accounts and the Collateral
Agent may curtail or terminate said authority at any time after the occurrence and during the continuance of an Event of Default, subject to the terms of the Intercreditor Agreement. If required in writing by the Collateral Agent at any time after
the occurrence and during the continuance of an Event of Default, any payments of Accounts, when collected by any Grantor, (i) shall be forthwith (and, in any event, within two Business Days) deposited by such Grantor in the exact form
received, duly endorsed by such Grantor to the Collateral Agent if required, in a Collateral Account maintained under the sole dominion and control of and on terms and conditions reasonably satisfactory to the Collateral Agent, subject to withdrawal
by the Collateral Agent for the account of the Secured Parties only as provided in Section 5.5, and (ii) until so turned over, shall be held by such Grantor in trust for the Collateral Agent and the Secured Parties, segregated from other
funds of such Grantor. Each such deposit of Proceeds of Accounts shall be accompanied by a report identifying in reasonable detail the nature and source of the payments included in the deposit. 

(c) At the Collateral Agent’s request at any time after the occurrence and during the continuance of an Event of Default, subject to
the terms of the Intercreditor Agreement, each Grantor shall deliver to the Collateral Agent all original and other documents evidencing, and relating to, the agreements and transactions which gave rise to the Accounts, including all original
orders, invoices and shipping receipts. 
 (d) Upon the occurrence and during the continuance of an Event of Default, a Grantor
shall not grant any extension of the time of payment of any of the Accounts, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any Person liable for the payment thereof, or allow any credit or
discount whatsoever thereon if the Collateral Agent shall have instructed the Grantors not to grant or make any such extension, credit, discount, compromise or settlement under any circumstances during the continuance of such Event of Default.

 (e) At the direction of the Collateral Agent, upon the occurrence and during the continuance of an Event of Default, subject
to the terms of the Intercreditor Agreement, each Grantor shall grant to the Collateral Agent to the extent assignable, an irrevocable, non-exclusive, fully paid-up, royalty-free, worldwide license to use, assign, license or sublicense any of the
Intellectual Property now owned or hereafter acquired by such Grantor. Such license shall include access to all media in which any of the licensed items may be recorded or stored and to all computer programs used for the compilation or printout
thereof. 
 5.2 Communications with Grantors; Grantors Remain Liable. 

(a) The Collateral Agent in its own name or in the name of others may at any time after the occurrence and during the continuance of an
Event of Default, subject to the terms 

  
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of the Intercreditor Agreement, after giving reasonable notice to the relevant Grantor of its intent to do so, communicate with obligors under the Accounts to verify with them to the Collateral
Agent’s satisfaction the existence, amount and terms of any Accounts. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party. 

(b) Upon the written request of the Collateral Agent at any time after the occurrence and during the continuance of an Event of Default,
subject to the terms of the Intercreditor Agreement, each Grantor shall notify obligors on the Accounts that the Accounts have been assigned to the Collateral Agent for the benefit of the Secured Parties and that payments in respect thereof shall be
made directly to the Collateral Agent. 
 (c) Anything herein to the contrary notwithstanding, each Grantor shall remain liable
under each of the Accounts to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement giving rise thereto. Neither the Collateral Agent nor any Secured
Party shall have any obligation or liability under any Account (or any agreement giving rise thereto) by reason of or arising out of this Security Agreement or the receipt by the Collateral Agent or any Secured Party of any payment relating thereto,
nor shall the Collateral Agent or any Secured Party be obligated in any manner to perform any of the obligations of any Grantor under or pursuant to any Account (or any agreement giving rise thereto), to make any payment, to make any inquiry as to
the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party thereunder, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts
which may have been assigned to it or to which it may be entitled at any time or times. 
 5.3 Proceeds to be Turned Over To
Collateral Agent. In addition to the rights of the Collateral Agent and the Secured Parties specified in Section 5.1 with respect to payments of Accounts, if an Event of Default shall occur and be continuing, subject to the terms of the
Intercreditor Agreement, and the Collateral Agent so requires by notice in writing to the relevant Grantor (it being understood that the exercise of remedies by the Secured Parties in connection with an Event of Default under Article 6 of the
Indenture or the equivalent provisions of any Additional Second Lien Agreement shall be deemed to constitute a request by the Collateral Agent for the purposes of this sentence and in such circumstances, no such written notice shall be required),
all Proceeds received by any Grantor consisting of cash, checks and other near cash items shall be held by such Grantor in trust for the Collateral Agent and the Secured Parties, segregated from other funds of such Grantor, and shall, forthwith upon
receipt by such Grantor, be turned over to the Collateral Agent in the exact form received by such Grantor (duly endorsed by such Grantor to the Collateral Agent, if required). All Proceeds received by the Collateral Agent hereunder shall be held by
the Collateral Agent in a Collateral Account maintained under its dominion and control and on terms and conditions reasonably satisfactory to the Collateral Agent. All Proceeds while held by the Collateral Agent in a Collateral Account (or by such
Grantor in trust for the Collateral Agent and the Secured Parties) shall continue to be held as collateral security for all the Obligations and shall not constitute payment thereof until applied as provided in Section 5.4. 

  
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 5.4 Application of Proceeds. The Collateral Agent shall apply the proceeds of any
collection or sale of the Collateral as well as any Collateral consisting of cash, at any time after receipt in accordance with the terms of the Intercreditor Agreement. Upon any sale of the Collateral by the Collateral Agent (including pursuant to
a power of sale granted by statute or under a judicial proceeding), the receipt of the Collateral Agent or of the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral or Mortgaged Property so sold
and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Collateral Agent or such officer or be answerable in any way for the misapplication thereof. 

5.5 Code and Other Remedies. Subject to the terms of the Intercreditor Agreement, if an Event of Default shall occur and be
continuing, the Collateral Agent may exercise in respect of the Collateral, in addition to all other rights and remedies provided for herein or otherwise available to it, all the rights and remedies of a secured party upon default under the UCC or
any other applicable law and also may with notice to the relevant Grantor, sell the Collateral or any part thereof in one or more parcels at public or private sale or sales, at any exchange, broker’s board or office of the Collateral Agent or
any Secured Party or elsewhere for cash or on credit or for future delivery at such price or prices and upon such other terms as are commercially reasonable irrespective of the impact of any such sales on the market price of the Collateral. The
Collateral Agent shall be authorized at any such sale (if it deems it advisable to do so) to restrict the prospective bidders or purchasers of Collateral to Persons who will represent and agree that they are purchasing the Collateral for their own
account for investment and not with a view to the distribution or sale thereof, and, upon consummation of any such sale, the Collateral Agent shall have the right to assign, transfer and deliver to the purchaser or purchasers thereof the Collateral
so sold. Each purchaser at any such sale shall hold the property sold absolutely free from any claim or right on the part of any Grantor, and each Grantor hereby waives (to the extent permitted by law) all rights of redemption, stay and/or appraisal
that it now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. The Collateral Agent and any Secured Party shall have the right upon any such public sale, and, to the extent permitted by law,
upon any such private sale, to purchase the whole or any part of the Collateral so sold, and the Collateral Agent or such Secured Party may pay the purchase price by crediting the amount thereof against the Obligations. Each Grantor agrees that, to
the extent notice of sale shall be required by law, at least ten days’ notice to such Grantor of the time and place of any public sale or the time after which any private sale is to be made shall constitute reasonable notification. The
Collateral Agent shall not be obligated to make any sale of Collateral regardless of notice of sale having been given. The Collateral Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed
therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. To the extent permitted by law, each Grantor hereby waives any claim against the Collateral Agent arising by reason of the fact that the
price at which any Collateral may have been sold at such a private sale was less than the price that might have been obtained at a public sale, even if the Collateral Agent accepts the first offer received and does not offer such Collateral to more
than one offeree. Each Grantor further agrees, at the Collateral Agent’s request to assemble the Collateral and make it available to the Collateral Agent, at places which the Collateral Agent shall reasonably select, whether at such
Grantor’s premises or elsewhere. The Collateral Agent shall apply the net proceeds of any action taken by it pursuant to this Section 5.5 in accordance with the provisions of Section 5.4. 

  
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 5.6 Deficiency. Each Grantor shall remain liable for any deficiency if the proceeds
of any sale or other disposition of the Collateral are insufficient to pay its Obligations and the fees and disbursements of any attorneys employed by the Collateral Agent or any Secured Party to collect such deficiency. 

5.7 Amendments, etc. with Respect to the Obligations; Waiver of Rights. Each Grantor shall remain obligated hereunder
notwithstanding that, without any reservation of rights against any Grantor and without notice to or further assent by any Grantor, (a) any demand for payment of any of the Obligations made by the Collateral Agent or any other Secured Party may
be rescinded by such party and any of the Obligations continued, (b) the Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto,
may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Agent or any other Secured Party, (c) the Indenture, the other Notes Documents and
any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Trustee (or the applicable percentage of Holders pursuant to Section 9.02 of the Indenture, as
the case may be) (or in the case of any Additional Second Lien Agreement in accordance with the terms of such Additional Second Lien Agreement) may deem advisable from time to time, and (d) any collateral security, guarantee or right of offset
at any time held by the Collateral Agent or any other Secured Party for the payment of the Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Agent nor any other Secured Party shall have any obligation to
protect, secure, perfect or insure any Lien at any time held by it as security for the Obligations or for this Security Agreement or any property subject thereto. When making any demand hereunder against any Grantor, the Collateral Agent or any
other Secured Party may, but shall be under no obligation to, make a similar demand on any Grantor or any other Person, and any failure by the Collateral Agent or any other Secured Party to make any such demand or to collect any payments from the
Issuer or any Grantor or any other Person or any release of the Issuer or any Grantor or any other Person shall not relieve any Grantor in respect of which a demand or collection is not made or any Grantor not so released of its several obligations
or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Agent or any other Secured Party against any Grantor. For the purposes hereof “demand” shall
include the commencement and continuance of any legal proceedings. 
 6. The Collateral Agent. 

6.1 Collateral Agent’s Appointment as Attorney-in-Fact, etc. 

(a) Each Grantor hereby appoints, which appointment is irrevocable and coupled with an interest, effective upon the occurrence and during
the continuance of an Event of Default, the Collateral 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 such Grantor
and in the name of such Grantor or otherwise, for the purpose of carrying out the terms of this Security Agreement or any of the Security Documents, to take any and all 

  
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appropriate action and to execute any and all documents and instruments that may be necessary or desirable to accomplish the purposes of this Security Agreement or any of the Security Documents,
and, without limiting the generality of the foregoing, each Grantor hereby gives the Collateral Agent the power and right, on behalf of such Grantor, either in the Collateral Agent’s name or in the name of such Grantor or otherwise, without
assent by such Grantor, to do any or all of the following, in each case after the occurrence and during the continuance of an Event of Default and after written notice by the Collateral Agent of its intent to do so: 

(i) take possession of and endorse and collect any checks, drafts, notes, acceptances or other instruments for the payment
of moneys due under any Account or with respect to any other Collateral or Mortgaged Property and file any claim or take any other action or proceeding in any court of law or equity or otherwise deemed appropriate by the Collateral Agent for the
purpose of collecting any and all such moneys due under any Account or with respect to any other Collateral or Mortgaged Property whenever payable; 
 (ii) in the case of any Intellectual Property, execute and deliver, and have recorded, any and all agreements, instruments, documents and papers as the Collateral Agent may request to evidence the
Collateral Agent’s and the Secured Parties’ Security Interest in such Intellectual Property and the goodwill and general intangibles of such Grantor relating thereto or represented thereby; 

(iii) pay or discharge taxes and Liens levied or placed on or threatened against the Collateral or Mortgaged Property;

 (iv) execute, in connection with any sale provided for in Section 5.5, any endorsements, assignments or
other instruments of conveyance or transfer with respect to the Collateral or Mortgaged Property; 
 (v) obtain
and adjust insurance required to be maintained by such Grantor pursuant to Section 4.5; 
 (vi) direct any
party liable for any payment under any of the Collateral or Mortgaged Property to make payment of any and all moneys due or to become due thereunder directly to the Collateral Agent or as the Collateral Agent shall direct; 

(vii) ask or demand for, 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 or Mortgaged Property; 
 (viii) sign
and endorse any invoices, freight or express bills, bills of lading, storage or warehouse receipts, drafts against debtors, assignments, verifications, notices and other documents in connection with any of the Collateral or Mortgaged Property;

 (ix) commence and prosecute any suits, actions or proceedings at law or in equity in any court of competent
jurisdiction to collect the Collateral or Mortgaged Property or any portion thereof and to enforce any other right in respect of any Collateral or Mortgaged Property; 

  
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 (x) defend any suit, action or proceeding brought against such Grantor with
respect to any Collateral or Mortgaged Property (with such Grantor’s consent to the extent such action or its resolution could materially affect such Grantor or any of its affiliates in any manner other than with respect to its continuing
rights in such Collateral or Mortgaged Property); 
 (xi) settle, compromise or adjust any such suit, action or
proceeding and, in connection therewith, give such discharges or releases as the Collateral Agent may deem appropriate (with such Grantor’s consent to the extent such action or its resolution could materially affect such Grantor or any of its
affiliates in any manner other than with respect to its continuing rights in such Collateral or Mortgaged Property); 
 (xii) assign any Copyright, Patent or Trademark (along with the goodwill of the business to which any such Copyright, Patent or Trademark pertains), throughout the world for such term or terms, on such
conditions, and in such manner, as the Collateral Agent shall in its sole discretion determine; and 
 (xiii)
generally, sell, transfer, pledge and make any agreement with respect to or otherwise deal with any of the Collateral or Mortgaged Property as fully and completely as though the Collateral Agent were the absolute owner thereof for all purposes, and
do, at the Collateral Agent’s option and such Grantor’s expense, at any time, or from time to time, all acts and things that the Collateral Agent deems necessary to protect, preserve or realize upon the Collateral or Mortgaged Property and
the Collateral Agent’s and the Secured Parties’ Security Interests therein and to effect the intent of this Security Agreement, all as fully and effectively as such Grantor might do. 

Anything in this Section 6.1(a) to the contrary notwithstanding and subject to the terms of the Intercreditor Agreement, the Collateral Agent agrees
that it will not exercise any rights under the power of attorney provided for in this Section 6.1(a) unless an Event of Default shall have occurred and be continuing. 
 (b) If any Grantor fails to perform or comply with any of its agreements contained herein, the Collateral Agent, at its option, but without any obligation so to do, may perform or comply, or otherwise
cause performance or compliance, with such agreement. 
 (c) The expenses of the Collateral Agent incurred in connection with
actions undertaken as provided in this Section 6.1, together with interest thereon at a rate per annum equal to the highest rate per annum at which interest would then be payable on the applicable Notes, from the date of payment by the
Collateral Agent to the date reimbursed by the relevant Grantor, shall be payable by such Grantor to the Collateral Agent on demand. 
 (d) Each Grantor hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue hereof. All powers, authorizations and agencies contained in this Security Agreement or any of the
Security Documents are coupled with an interest and are irrevocable until this Security Agreement is terminated and the Security Interests created hereby or thereby are released. 

  
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 6.2 Duty of Collateral Agent. The Collateral Agent’s sole duty with respect to
the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the UCC or otherwise, shall be to deal with it in the same manner as the Collateral Agent deals with similar property for its own
account. The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if such Collateral is accorded treatment substantially equal to that which the Collateral Agent
accords its own property. Neither the Collateral Agent, any Secured Party nor any of their respective officers, directors, employees or agents shall be liable for failure to demand, collect or realize upon any 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 any Grantor or any other Person or to take any other action whatsoever with regard to the Collateral or any part thereof. The powers
conferred on the Collateral Agent and the Secured Parties hereunder are solely to protect the Collateral Agent’s and the Secured Parties’ interests in the Collateral and shall not impose any duty upon the Collateral Agent or any Secured
Party to exercise any such powers. The Collateral Agent and 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 or agents shall be responsible to any Grantor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct. 
 6.3 Authority of Collateral Agent. Each Grantor acknowledges that the rights and responsibilities of the Collateral Agent under this Security Agreement with respect to any action taken by the
Collateral Agent or the exercise or non-exercise by the Collateral Agent of any option, voting right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Security Agreement shall, as between the
Collateral Agent and the Secured Parties, be governed by the Intercreditor Agreement, and by such other agreements with respect thereto as may exist from time to time among them, but, as between the Collateral Agent and the Grantors, the Collateral
Agent shall be conclusively presumed to be acting as agent for the applicable Secured Parties with full and valid authority so to act or refrain from acting, and no Grantor shall be under any obligation, or entitlement, to make any inquiry
respecting such authority. 
 6.4 Security Interest Absolute. All rights of the Collateral Agent hereunder, the Security
Interest and all obligations of the Grantors hereunder shall be absolute and unconditional. 
 6.5 Continuing Security
Interest; Assignments Under the Indenture; Release. 
 (a) This Security Agreement and the other Security Documents shall
remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor and the successors and assigns thereof and shall inure to the benefit of the Collateral Agent and the other Secured Parties and their
respective successors, indorsees, transferees and assigns until all Obligations (other than any contingent indemnity obligations not then due) shall have been satisfied by payment in full. 

(b) Subject to the terms of the Intercreditor Agreement, a Subsidiary Grantor shall automatically be released from its obligations
hereunder (x) as it relates to the Obligations securing the Notes if it ceases to be a Guarantor in accordance with Section 10.04 of the 

  
 -22-

 
Indenture and (y) as it relates to the Obligations securing any Additional Second Lien Obligations, if it ceases to be a guarantor under such Additional Second Lien Agreement pursuant to the
applicable provision(s) of such Additional Second Lien Agreement. 
 (c) Subject to any applicable terms of the Intercreditor
Agreement, (i) the Liens securing the Obligations with respect to the Notes will be released, in whole or in part, as provided in Section 10.04 of the Indenture and (ii) the Liens securing Additional Second Lien Obligations of any
series will be released, in whole or in part, as provided in Additional Second Lien Agreement governing such obligations. Any such release in connection with any sale, transfer or other disposition of such Collateral or Mortgaged Property shall
result in such Collateral or Mortgaged Property being sold, transferred or disposed of, as applicable, free and clear of the applicable Lien and Security Interest created hereby. 

(d) In connection with any termination or release pursuant to paragraph (a), (b) or (c), the Collateral Agent shall execute and
deliver to any Grantor, at such Grantor’s expense, all documents that such Grantor shall reasonably request to evidence such termination or release. Any execution and delivery of documents pursuant to this Section 6.5 shall be without
recourse to or warranty by the Collateral Agent. 
 6.6 Reinstatement. Each Grantor further agrees that, if any payment
made by any Grantor or any other Person and applied to the Obligations is at any time annulled, avoided, set aside, rescinded, invalidated, declared to be fraudulent or preferential or otherwise required to be refunded or repaid, or the proceeds of
Collateral are required to be returned by any Secured Party to such Grantor, its estate, trustee, receiver or any other party, including any Grantor, under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent
of such payment or repayment, any Lien or other Collateral securing such liability shall be and remain in full force and effect, as fully as if such payment had never been made or, if prior thereto the Lien granted hereby or other Collateral
securing such liability hereunder shall have been released or terminated by virtue of such cancellation or surrender), such Lien or other Collateral shall be reinstated in full force and effect, and such prior cancellation or surrender shall not
diminish, release, discharge, impair or otherwise affect any Lien or other Collateral securing the obligations of any Grantor in respect of the amount of such payment. 
 7. Collateral Agent As Agent. 
 (a) Wells Fargo Bank, National Association
has been appointed to act as the Collateral Agent under the Indenture. Pursuant to Section 10.02 of the Indenture, the Collateral Agent is authorized to appoint one or more Co-Collateral Agents, for the purposes of this Section 7(a) only
references to the Collateral Agent shall mean the Collateral Agent and any Co-Collateral Agents appointed in accordance with the Indenture. The Collateral Agent shall be obligated, and shall have the right hereunder, to make demands, to give
notices, to exercise or refrain from exercising any rights, and to take or refrain from taking any action (including the release or substitution of Collateral or Mortgaged Property), solely in accordance with this Security Agreement, the Indenture
and the Intercreditor Agreement. In furtherance of the foregoing provisions of this Section 7(a), each Secured Party, by its acceptance of the benefits hereof, agrees that it shall have no right individually to realize upon any of the
Collateral hereunder, it being understood and agreed by such Secured Party that all rights and remedies hereunder may be exercised solely by the Collateral Agent for the ratable benefit of the Secured Parties in accordance with the terms of this
Section 7(a). 

  
 -23-

 (b) So long as the Trustee under the Indenture is the Collateral Agent, written notice of
resignation by the Trustee pursuant to Section 7.08 of the Indenture shall also constitute notice of resignation as Collateral Agent under this Security Agreement; removal of the Trustee shall also constitute removal under this Security
Agreement; and appointment of a Trustee pursuant to Section 7.08 of the Indenture shall also constitute appointment of a successor Collateral Agent under this Security Agreement. Upon the acceptance of any appointment as Trustee under
Section 7.08 of the Indenture and, as applicable, under the relevant provisions of each Additional Second Lien Agreement by a successor Collateral Agent, that successor Collateral Agent shall thereupon succeed to and become vested with all the
rights, powers, privileges and duties of the retiring or removed Collateral Agent under this Security Agreement, and the retiring or removed Collateral Agent under this Security Agreement shall promptly (i) transfer to such successor Collateral
Agent all sums, securities and other items of Collateral held hereunder, together with all records and other documents necessary or appropriate in connection with the performance of the duties of the successor Collateral Agent under this Security
Agreement, and (ii) execute and deliver to such successor Collateral Agent or otherwise authorize the filing of such amendments to financing statements and take such other actions, as may be necessary or appropriate in connection with the
assignment to such successor Collateral Agent of the Security Interests created hereunder, whereupon such retiring or removed Collateral Agent shall be discharged from its duties and obligations under this Security Agreement. After any retiring or
removed Collateral Agent’s resignation or removal hereunder as Collateral Agent, the provisions of this Security Agreement shall inure to its benefit as to any actions taken or omitted to be taken by it under this Security Agreement while it
was Collateral Agent hereunder. 
 8. Miscellaneous. 

8.1 Intercreditor Agreement. Notwithstanding anything herein to the contrary, (i) the liens and security interests granted to
the Collateral Agent pursuant to this Agreement are expressly subject and subordinate to the liens and security interests granted in favor of the Senior Secured Parties (as defined in the Intercreditor Agreement referred to below), including liens
and security interests granted to Credit Suisse AG, Cayman Islands Branch, as administrative agent, pursuant to or in connection with the Amended and Restated Credit Agreement dated as of September 28, 2007 (as amended as of August 10,
2010 and as further amended, restated, supplemented or otherwise modified from time to time), among First Data Corporation, the lenders from time to time party thereto and Credit Suisse, AG, Cayman Islands Branch, as administrative agent, and the
other parties thereto, and (ii) the exercise of any right or remedy by the Collateral Agent hereunder is subject to the limitations and provisions of the Intercreditor Agreement dated as of December 17, 2010 (as amended, restated,
supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), among Credit Suisse AG, Cayman Islands Branch, as Administrative Agent, Wells Fargo Bank, National Association, as Initial Additional Second
Priority Representative and its subsidiaries and affiliated entities party thereto. In the event of any conflict between the terms of the Intercreditor Agreement and the terms of this Agreement, the terms of the Intercreditor Agreement shall
govern. Without limiting the generality of the foregoing, and notwithstanding anything herein to the contrary, all rights and remedies of the Collateral 

  
 -24-

 
Agent (and the Secured Parties) shall be subject to the terms of the Intercreditor Agreement, and, with respect to the Collateral, until the Discharge of Senior Obligations (as such term is
defined in the Intercreditor Agreement) has occurred, any obligation of the Company and any other Grantor hereunder with respect to the delivery or Control of any Collateral, shall be deemed to be satisfied if the Company or such Grantor, as
applicable, delivers such Collateral to the Senior Representative or provides the Senior Representative with Control of such Collateral. Until the Discharge of Senior Obligations has occurred, the delivery of any Collateral to, or the Control of any
Collateral by, any Senior Representative (as such term is defined in the Intercreditor Agreement) pursuant to the Senior Debt Documents shall satisfy any delivery or Control requirement hereunder. 

8.2 Amendments in Writing. None of the terms or provisions of this Security Agreement or any of the Notes Documents may be waived,
amended, supplemented or otherwise modified except by a written instrument executed by the affected Grantor and the Collateral Agent in accordance with the terms of the Indenture and in accordance with each applicable Additional Second Lien
Agreement and the Intercreditor Agreement. 
 8.3 Notices. All notices, requests and demands pursuant hereto shall be
made in accordance with Section 13.02 of the Indenture. All communications and notices hereunder to any Subsidiary Grantor shall be given to it in care of the Issuer at the Issuer’s address set forth in Section 13.02 of the Indenture
and all notices to any Authorized Representative of any Additional Second Lien Obligations, at its address set forth in the Additional Second Lien Secured Party Consent, as such address may be changed by written notice to the Collateral Agent and
the Issuer. 
 8.4 No Waiver by Course of Conduct; Cumulative Remedies. Neither the Collateral Agent nor any Secured
Party shall by any act (except by a written instrument pursuant to Section 8.1), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced in any Default or Event of Default 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 the Collateral Agent or any other Secured Party, 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 the Collateral Agent or any other Secured Party of any
right or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy that the Collateral Agent or such other Secured Party would otherwise have on any future occasion. The rights, remedies, powers and privileges
herein provided are cumulative, may be exercised singly or concurrently and are not exclusive of any other rights or remedies provided by law. 
 8.5 Enforcement Expenses; Indemnification. 
 (a) Each Grantor agrees to pay
any and all reasonable out of pocket expenses (including all reasonable fees and disbursements of counsel) that may be paid or incurred by the Collateral Agent in enforcing, or obtaining advice of counsel in respect of, any rights with respect to
the administration of this Agreement, or collecting, any or all of the Obligations and/or enforcing any rights with respect to, or collecting against, such Grantor under this Security Agreement or any of the Security Documents. 

  
 -25-

 (b) Each Grantor agrees to pay, and to save the Collateral Agent and the Secured Parties
harmless from, any and all liabilities with respect to, or resulting from any delay in paying, any and all stamp, excise, sales or other taxes that may be payable or determined to be payable with respect to any of the Collateral or in connection
with any of the transactions contemplated by this Security Agreement or any of the Security Documents. 
 (c) Each Grantor
agrees to pay, and to save the Collateral Agent and the Secured Parties harmless from, any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever
with respect to the execution, delivery, enforcement, performance and administration of this Security Agreement or any of the Security Documents to the extent the Issuer would be required to do so pursuant to Section 7.07 of the Indenture;
provided that the Grantors shall not be required to reimburse any expense or indemnify against any loss, liability or expense incurred by the Collateral Agent through the Collateral Agent’s own willful misconduct, gross negligence or bad faith.

 (d) All expenses of protecting, storing, warehousing, insuring, handling maintaining and shipping any Collateral, all taxes
payable with respect to any Collateral (including any sale thereof), and all other payments required to be made by the Collateral Agent to any Person to realize upon any Collateral, shall be borne and paid by Grantors. The Collateral Agent shall not
be liable or responsible in any way for the safekeeping of any Collateral, for any loss or damage thereto (except for reasonable care in its custody while Collateral is in the Collateral Agents actual possession), for any diminution in the value
thereof, or for any act or default of any warehouseman, carrier, forwarding agency or other Person whatsoever, but the same shall be at Grantors’ sole risk. 
 (e) The agreements in this Section 8.5 shall survive repayment of the Obligations and all other amounts payable under the Indenture and the other Notes Documents and any Additional Second Lien
Agreement. 
 8.6 Successors and Assigns. The provisions of this Security Agreement shall be binding upon and inure to
the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that no Grantor may assign, transfer or delegate any of its rights or obligations under this Security Agreement without the prior written consent
of the Collateral Agent except pursuant to a transaction permitted by both the Indenture and each Additional Second Lien Agreement. 
 8.7 Counterparts. This Security Agreement may be executed by one or more of the parties to this Security Agreement on any number of separate counterparts (including by facsimile or other electronic
transmission), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. A set of the copies of this Security Agreement signed by all the parties shall be lodged with the Collateral Agent and the Issuer.

 8.8 Severability. Any provision of this Security Agreement that is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good 

  
 -26-

 
faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or
unenforceable provisions. 
 8.9 Section Headings. The Section headings used in this Security Agreement are for
convenience of reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 
 8.10 Integration. This Security Agreement together with the other Notes Documents, the Intercreditor Agreement and each Additional Second Lien Agreement represents the agreement of each of the
Grantors with respect to the subject matter hereof and there are no promises, undertakings, representations or warranties by the Collateral Agent or any other Secured Party relative to the subject matter hereof not expressly set forth or referred to
herein or in the other Notes Documents, the Intercreditor Agreement and each Additional Second Lien Agreement. 
 8.11
GOVERNING LAW. THIS SECURITY AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

8.12 Submission To Jurisdiction Waivers. Each party hereto hereby irrevocably and unconditionally: 

(a) submits for itself and its property in any legal action or proceeding relating to this Security Agreement, the other
Notes Documents to which it is a party and any Additional Second Lien Agreement to which it is a party, or for recognition and enforcement of any judgment in respect thereof, to the non-exclusive general jurisdiction of the courts of the State of
New York, the courts of the United States of America for the Southern District of New York, and appellate courts from any thereof; 
 (b) consents that any such action or proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or
that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same; 

(c) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by
registered or certified mail (or any substantially similar form of mail), postage prepaid, to such Person at its address referred to in Section 8.2 or at such other address of which such Person shall have been notified pursuant thereto;

 (d) agrees that nothing herein shall affect the right of any other party hereto (or any Secured Party) to
effect service of process in any other manner permitted by law or shall limit the right of any party hereto (or any Secured Party) to sue in any other jurisdiction; and 

  
 -27-

 (e) waives, to the maximum extent not prohibited by law, any right it may
have to claim or recover in any legal action or proceeding referred to in this Section 8.11 any special, exemplary, punitive or consequential damages. 
 8.13 Acknowledgments. Each party hereto hereby acknowledges that: 
 (a) it has been advised by counsel in the negotiation, execution and delivery of this Security Agreement and the other Notes Documents to which it is a party; 

(b) neither the Collateral Agent nor any other Secured Party has any fiduciary relationship with or duty to any Grantor
arising out of or in connection with this Security Agreement or any of the other Note Documents, and the relationship between the Grantors, on the one hand, and the Collateral Agent and the other Secured Parties, on the other hand, in connection
herewith or therewith is solely that of debtor and creditor; and 
 (c) no joint venture is created hereby or by
the other Notes Documents or otherwise exists by virtue of the transactions contemplated hereby among the Grantors and any other Secured Party. 
 8.14 Additional Grantors. Each Subsidiary of the Issuer that is required to become a party to this Security Agreement pursuant to the Indenture and/or the equivalent provision of any Additional
Second Lien Agreement shall become a Grantor, with the same force and effect as if originally named as a Grantor herein, for all purposes of this Security Agreement upon execution and delivery by such Subsidiary of a written supplement substantially
in the form of Annex B hereto. The execution and delivery of any instrument adding an additional Grantor as a party to this Security Agreement shall not require the consent of any other Grantor hereunder. The rights and obligations of each Grantor
hereunder shall remain in full force and effect notwithstanding the addition of any new Grantor as a party to this Security Agreement. 
 8.15 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS SECURITY AGREEMENT, ANY OTHER NOTES
DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN. 
 8.16 Additional Second Lien Obligations. On or after the date hereof
and so long as expressly permitted by the Senior Debt Documents then outstanding, the Indenture and any Additional Second Lien Agreement then outstanding, the Issuer may from time to time designate Indebtedness at the time of incurrence to be
secured on a pari passu basis with the Obligations as Additional Second Lien Obligations hereunder by delivering to the Collateral Agent and each other Authorized Representative (a) a certificate signed by an Officer of the Issuer
(i) identifying the obligations so designated and the initial aggregate principal amount or face amount thereof, (ii) stating that such obligations are designated as Additional Second Lien Obligations for purposes hereof,
(iii) representing that such designation of such obligations as Additional Second Lien Obligations complies with the terms of the Senior Debt Documents then outstanding, the Indenture and any Additional Second Lien Agreement then outstanding
and (iv) specifying the name and address of the Authorized Representative for such obligations, (b) a fully executed Additional Second Lien Secured Party Consent (in the form attached as Annex C)

  
 -28-

 
and (c) a fully executed joinder to the Intercreditor Agreement. Each Authorized Representative agrees that upon the satisfaction of all conditions set forth in the preceding sentence, the
Collateral Agent shall act as agent under and subject to the terms of the Security Documents for the benefit of all Secured Parties, including, without limitation, any Secured Parties that hold any such Additional Second Lien Obligations, and each
Authorized Representative agrees to the appointment, and acceptance of the appointment, of the Collateral Agent as agent for the holders of such Additional Second Lien Obligations as set forth in each Additional Second Lien Secured Party Consent and
agrees, on behalf of itself and each Secured Party it represents, to be bound by this Security Agreement and the Intercreditor Agreement. 
 8.17 Force Majeure. In no event shall the Collateral Agent be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or
indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or
malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Collateral Agent shall use reasonable efforts that are consistent with accepted practices in the banking industry to resume
performance as soon as practicable under the circumstances. 
 [SIGNATURE PAGES FOLLOW] 

  
 -29-

 IN WITNESS WHEREOF, each of the undersigned has caused this Security Agreement to be duly
executed and delivered as of the date first above written. 
  

			
	                           
             , as Grantor
		
	By:	 	  

		 	Name:
		 	Title:
	
	                           
             , as Grantor
		
	By:	 	  

		 	Name:
		 	Title:
	
	                           
             , as Grantor
		
	By:	 	  

		 	Name:
		 	Title:
	
	                           
             , as Grantor
		
	By:	 	  

		 	Name:
		 	Title:
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Agent
		
	By:	 	  

		 	Name:
		 	Title:

 [SIGNATURE PAGE TO SECURITY
AGREEMENT] 

 ANNEX B TO THE  
 SECURITY AGREEMENT 
 SUPPLEMENT NO. [    ] dated
as of [                    ], to the Security Agreement dated as of December 17, 2010 (the “Security Agreement”) among First
Data Corporation, a Delaware corporation (the “Issuer”), each Subsidiary of the Issuer listed on Annex A thereto (each such Subsidiary individually a “Subsidiary Grantor” and, collectively, the “Subsidiary
Grantors”; the Subsidiary Grantors and the Issuer are referred to collectively herein as the “Grantors”), Wells Fargo Bank, National Association, as collateral agent (in such capacity, the “Collateral
Agent”) under the indenture referred to below. 
 A. Reference is made to the indenture dated as of December 17,
2010 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Indenture”) among the Issuer, the Grantors and Wells Fargo Bank, National Association, in its capacity as trustee. 

B. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Security
Agreement. 
 C. The Grantors have entered into the Security Agreement in order to induce the Holders to purchase the Notes.

 D. Section 8.14 of the Security Agreement provides that each Subsidiary of the Issuer that is required to become a party
to the Security Agreement pursuant to the Indenture shall become a Grantor, with the same force and effect as if originally named as a Grantor therein, for all purposes of the Security Agreement upon execution and delivery by such Subsidiary of an
instrument in the form of this Supplement. Each undersigned Subsidiary (each a “New Grantor”) is executing this Supplement in accordance with the requirements of the Security Agreement to become a Subsidiary Grantor under the
Security Agreement as consideration for the purchase of the Notes by the Holders. 
 Accordingly, the Collateral Agent and the
New Grantors agree as follows: 
 SECTION 1. In accordance with Section 8.14 of the Security Agreement, each New Grantor by
its signature below becomes a Grantor under the Security Agreement with the same force and effect as if originally named therein as a Grantor and each New Grantor hereby (a) agrees to all the terms and provisions of the Security Agreement
applicable to it as a Grantor thereunder and (b) represents and warrants that the representations and warranties made by it as a Grantor thereunder are true and correct on and as of the date hereof. In furtherance of the foregoing, each New
Grantor, as security for the payment and performance in full of the Obligations, does hereby bargain, sell, convey, assign, set over, mortgage, pledge, hypothecate and transfer to the Collateral Agent for the benefit of the Secured Parties, and
hereby grants to the Collateral Agent for the benefit of the Secured Parties, a Security Interest in all of the Collateral of such New Grantor, in each case whether now or hereafter existing or in which it now has or hereafter acquires an interest.
Each reference to a “Grantor” in the Security Agreement shall be deemed to include each New Grantor. The Security Agreement is hereby incorporated herein by reference. 

  
 B-1

 SECTION 2. Each New Grantor represents and warrants to the Collateral Agent and the other
Secured Parties that this Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, subject to the effects of bankruptcy,
insolvency or similar laws affecting creditors’ rights generally and general equitable principles. 
 SECTION 3. This
Supplement may be executed by one or more of the parties to this Supplement on any number of separate counterparts (including by facsimile or other electronic transmission), and all of said counterparts taken together shall be deemed to constitute
one and the same instrument. A set of the copies of this Supplement signed by all the parties shall be lodged with the Collateral Agent and the Issuer. This Supplement shall become effective as to each New Grantor when the Collateral Agent shall
have received counterparts of this Supplement that, when taken together, bear the signatures of such New Grantor and the Collateral Agent. 
 SECTION 4. Such New Grantor hereby represents and warrants that (a) set forth on Schedule I hereto is (i) the legal name of such New Grantor, (ii) the jurisdiction of incorporation or
organization of such New Grantor, (iii) the identity or type of organization or corporate structure of such New Grantor (iv) the Federal Taxpayer Identification Number and organizational number of such New Grantor and (v) the true and
correct location of the chief executive office and principal place of business and any office in which it maintains books of records relating to Collateral owned by it and (b) as of the date hereof (i) Schedule II hereto lists all of each
New Grantor’s Copyright Licenses, (ii) Schedule III hereto lists in all material respects all of each New Grantor’s registered Copyrights (and all applications therefor), (iii) Schedule IV hereto lists all of each New
Grantor’s Patent Licenses, (iv) Schedule V hereto lists in all material respects all of each New Grantor’s Patents (and all applications therefor), (v) Schedule VI hereto lists all of each New Grantor’s Trademark Licenses
and (vi) Schedule VII hereto lists in all material respects all of each New Grantor’s registered Trademarks (and all applications therefor). 
 SECTION 5. Except as expressly supplemented hereby, the Security Agreement shall remain in full force and effect. 
 SECTION 6. THIS SUPPLEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 SECTION 7. Any provision of this Supplement that is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof and in the Security Agreement, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which
comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

  
 B-2

 SECTION 8. All notices, requests and demands pursuant hereto shall be made in accordance
with Section 13.02 of the Indenture. All communications and notices hereunder to each New Grantor shall be given to it in care of the Issuer at the Issuer’s address set forth in Section 13.02 of the Indenture. 

  
 B-3

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

			
	[NAME OF NEW GRANTOR]
		
	By:	 	  

		 	Name:
		 	Title:
	
	[                            
    ], as Collateral Agent
		
	By:	 	  

		 	Name:
		 	Title:

  
 B-4

 ANNEX C TO THE  
 SECURITY AGREEMENT  
 [Form of] 

ADDITIONAL SECOND LIEN SECURED PARTY CONSENT 
 [Name of Additional Second Lien Secured Party] 
 [Address of Additional Second Lien
Secured Party] 
 [Date] 
  

			
	  
	 	
	  
	 	
	  
	 	
	  
	 	

 The undersigned is the Authorized Representative for Persons wishing to become Secured Parties (the
“New Secured Parties”) under (i) the Security Agreement dated as of December 17, 2010 (as heretofore amended and/or supplemented, the “Security Agreement” (terms used without definition herein have the
meanings assigned to such term by the Security Agreement)) and (ii) the Pledge Agreement dated as of December 17, 2010 (as heretofore amended and/or supplemented, the “Pledge Agreement”) among First Data Corporation, the
Subsidiary Grantors party thereto and Wells Fargo Bank, National Association, as Collateral Agent (the “Collateral Agent”). 
 In consideration of the foregoing, the undersigned hereby: 
 (i)
represents that the Authorized Representative has been duly authorized by the New Secured Parties to become a party to the Security Agreement and the Pledge Agreement on behalf of the New Secured Parties under that [DESCRIBE OPERATIVE AGREEMENT]
(the “New Secured Obligation”) and to act as the Authorized Representative for the New Secured Parties; 
 (ii) acknowledges that the New Secured Parties have received copies of the Security Agreement, the Pledge Agreement and the Intercreditor Agreement; 

(iii) appoints and authorizes the Collateral Agent to take such action as agent on its behalf and on behalf of all other
Secured Parties and to exercise such powers under the Security Agreement, the Pledge Agreement and the Intercreditor Agreement as are delegated to the Collateral Agent by the terms thereof, together with all such powers as are reasonably incidental
thereto; 

  
 C-1

 (iv) accepts and acknowledges the terms of the Intercreditor Agreement
applicable to it and the New Secured Parties and agrees to serve as Authorized Representative for the New Secured Parties with respect to the New Secured Obligations and agrees on its own behalf and on behalf of the New Secured Parties to be bound
by the terms thereof applicable to holders of Additional Second Lien Obligations, with all the rights and obligations of a Secured Party thereunder and bound by all the provisions thereof (including, without limitation, Section 2.02(b) thereof)
as fully as if it had been a Secured Party on the effective date of the Intercreditor Agreement and agrees that its address for receiving notices pursuant to the Second Lien Security Documents (as defined in the Intercreditor Agreement) shall be as
follows: 
 [Address] 
 The Collateral Agent, by acknowledging and agreeing to this Additional Second Lien Secured Party Consent, accepts the appointment set forth in clause (iii) above. 

THIS ADDITIONAL SECOND LIEN SECURED PARTY CONSENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAW
OF THE STATE OF NEW YORK. 

  
 C-2

 IN WITNESS WHEREOF, the undersigned has caused this Additional Second Lien Secured Party
Consent to be duly executed by its authorized officer as of the      day                     , of
20    . 
  

			
	[NAME OF AUTHORIZED REPRESENTATIVE]
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	 Acknowledged and Agreed
 [                        ],
 as Collateral Agent

		
	By:	 	  

		 	Name:
		 	Title:
	
	First Data Corporation, a Delaware corporation The Grantors listed on Schedule I to the Security Agreement, each as Grantor
		
	By:	 	  

		 	Name:
		 	Title:

  
 C-3Registration Rights Agreement

 Exhibit 10.5 

 
  
 REGISTRATION RIGHTS AGREEMENT 
 Dated as of December 17, 2010 

Among 
 FIRST
DATA CORPORATION, 
 THE GUARANTORS LISTED ON SCHEDULE I HERETO 

and 
 CITIGROUP
GLOBAL MARKETS INC. 
 KKR CAPITAL MARKETS LLC 
 HSBC SECURITIES (USA) INC. 
 CREDIT SUISSE SECURITIES (USA) LLC 

DEUTSCHE BANK SECURITIES INC. 
 GOLDMAN, SACHS & CO. 
 MERRILL LYNCH, PIERCE, FENNER & SMITH
INCORPORATED 
 WELLS FARGO SECURITIES, LLC 
 12.625% Senior Notes due 2021 
  

 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
			
	 1.
	  	Definitions	  	 	2	  
			
	 2.
	  	Exchange Offer	  	 	5	  
			
	 3.
	  	Shelf Registration	  	 	7	  
			
	 4.
	  	[Reserved]	  	 	8	  
			
	 5.
	  	Additional Interest	  	 	8	  
			
	 6.
	  	Registration Procedures	  	 	9	  
			
	 7.
	  	Registration Expenses	  	 	16	  
			
	 8.
	  	Indemnification and Contribution	  	 	16	  
			
	 9.
	  	Rule 144A	  	 	20	  
			
	 10.
	  	Underwritten Registrations	  	 	20	  
			
	 11.
	  	Miscellaneous	  	 	20	  

 REGISTRATION RIGHTS
AGREEMENT 
 This Registration Rights Agreement (this “Agreement”) is dated as of December 17, 2010, among
FIRST DATA CORPORATION, a Delaware corporation (the “Issuer”), the guarantors listed on Schedule I hereto (the “Guarantors”) and CITIGROUP GLOBAL MARKETS INC., KKR CAPITAL MARKETS LLC, HSBC SECURITIES (USA)
INC. CREDIT SUISSE SECURITIES (USA) LLC, DEUTSCHE BANK SECURITIES INC., GOLDMAN, SACHS & CO., MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED and WELLS FARGO SECURITIES, LLC, as dealer managers (the “Dealer
Managers”). 
 This Agreement is entered into in connection with the Dealer Manager Agreement, dated as of
November 17, 2010 (the “Dealer Manager Agreement”), by and among First Data Corporation and the Dealer Managers, which provides for, among other things, the exchange (the “Exchange”) of certain of the Issuer’s
existing notes for new securities, including in part $3,000,000,000 aggregate principal amount of the Issuer’s 12.625% Senior Notes due 2021 (the “Notes”). The Notes are issued by the Company pursuant to an indenture, dated as
of the date hereof (as amended or supplemented from time to time, the “Indenture”), among the Company, the Guarantors and Wells Fargo Bank, National Association, as trustee (the “Trustee”). Pursuant to the Dealer
Manager Agreement and the Indenture, the Guarantors are required to guarantee (collectively, the “Guarantees”) the Issuer’s obligations under the Notes and the Indenture. References to the “Securities” shall
mean, collectively, the Notes and, when issued, the Guarantees. In order to induce holders of certain of the Issuer’s existing notes to participate in the Exchange, the Issuer has agreed to provide the registration rights set forth in this
Agreement for the benefit of the holder or holders of the Securities. The execution and delivery of this Agreement is a condition to the Dealer Managers’ obligations under the Dealer Manager Agreement. 

  
 -i-

 The parties hereby agree as follows: 

 

	 	1.	Definitions 

 As used in
this Agreement, the following terms shall have the following meanings: 
 Additional Interest: See Section 5(a)
hereof. 
 Advice: See the last paragraph of Section 6 hereof. 

Agreement: See the introductory paragraphs hereto. 
 Applicable Period: See Section 2(b) hereof. 
 Broker Dealer: a
broker-dealer registered with the SEC and/or FINRA. 
 Business Day: Shall have the meaning ascribed to such term in Rule
14d-1 under the Exchange Act. 
 Dealer Manager Agreement: See the introductory paragraphs hereto. 

Dealer ManAgers: See the introductory paragraphs hereto. 
 Effectiveness Date: With respect to any Shelf Registration Statement, the 90th day after the Filing Date with respect thereto; provided, however, that if the Effectiveness Date would
otherwise fall on a day that is not a Business Day, then the Effectiveness Date shall be the next succeeding Business Day. 

Effectiveness Period: See Section 3(a) hereof. 
 Event Date: See Section 5(b) hereof. 
 Exchange: See the
introductory paragraphs hereto. 
 Exchange Act: The Securities Exchange Act of 1934, as amended, and the rules and
regulations of the SEC promulgated thereunder. 
 Exchange Notes: See Section 2(a) hereof. 

Exchange Offer: See Section 2(a) hereof. 
 Exchange Offer Registration Statement: See Section 2(a) hereof. 

Exchange Securities: See Section 2(a) hereof. 
 Filing Date: The 90th day after the delivery of a Shelf Notice as required pursuant to Section 2(c) hereof; provided, however, that if the Filing Date would otherwise fall on a
day that is not a Business Day, then the Filing Date shall be the next succeeding Business Day. 

  
 -2-

 FINRA: See Section 6(r) hereof. 

Guarantees: See the introductory paragraphs hereto. 
 Guarantors: See the introductory paragraphs hereto. 
 Holder: Any
holder of a Registrable Security or Registrable Securities. 
 Indenture: See the introductory paragraphs hereto.

 Information: See Section 6(n) hereof. 
 Dealer Managers: See the introductory paragraphs hereto. 
 Initial Shelf
Registration: See Section 3(a) hereof. 
 Inspectors: See Section 6(n) hereof. 

Issue Date: December 17, 2010, the date of original issuance of the Notes. 

Issuer: See the introductory paragraphs hereto. 
 New Guarantees: See Section 2(a) hereof. 
 Notes: See the
introductory paragraphs hereto. 
 Participant: See Section 8(a) hereof. 

Participating Broker-Dealer: See Section 2(b) hereof. 

Person: An individual, trustee, corporation, partnership, limited liability company, joint stock company, trust, unincorporated
association, union, business association, firm or other legal entity. 
 Prospectus: The prospectus included in any
Registration Statement (including, without limitation, any prospectus subject to completion and a prospectus that includes any information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon
Rule 430A and Rule 430C under the Securities Act), as amended or supplemented by any prospectus supplement, and all other amendments and supplements to the Prospectus, including post-effective amendments, and all materials incorporated by
reference or deemed to be incorporated by reference in such Prospectus. 
 Records: See Section 6(n) hereof.

 Registrable Securities: Each Security upon its original issuance and at all times subsequent thereto, each Exchange
Security as to which Section 2(c)(iv) hereof is applicable upon original issuance and at all times subsequent thereto upon original issuance thereof and at all times subsequent thereto, until, in each case, the earliest to occur of (i) a
Registration Statement (other than, with respect to any Exchange Securities as to which Section 2(c)(iv) hereof is applicable, the Exchange Offer Registration Statement) covering such Security, Exchange Security (and the related Guarantees) has
been declared effective by the SEC and such Security or Exchange Security (and the related Guarantees), as the case may be, has been disposed of in accordance with such effective Registration Statement, (ii) such Security has been exchanged
pursuant to the Exchange Offer for an Exchange Security or Exchange Securities that 

  
 -3-

 
may be resold without restriction under state and federal securities laws or (iii) such Security or Exchange Security (and the related Guarantees), as the case may be, ceases to be
outstanding for purposes of the Indenture. 
 Registration Statement: Any registration statement of the Issuer that
covers any of the Securities or the Exchange Securities (and the related Guarantees) filed with the SEC under the Securities Act, including, in each case, the Prospectus, amendments and supplements to such registration statement, including
post-effective amendments, all exhibits, and all material incorporated by reference or deemed to be incorporated by reference in such registration statement. 
 Rule 144: Rule 144 (as amended or replaced) under the Securities Act. 

Rule 144A: Rule 144A (as amended or replaced) under the Securities Act. 

Rule 405: Rule 405 (as amended or replaced) under the Securities Act. 

Rule 415: Rule 415 (as amended or replaced) under the Securities Act. 

Rule 424: Rule 424 (as amended or replaced)under the Securities Act. 

SEC: The U.S. Securities and Exchange Commission. 
 Securities: See the introductory paragraphs hereto. 
 Securities
Act: The Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder. 
 Shelf
Notice: See Section 2(c) hereof. 
 Shelf Registration: See Section 3(b) hereof. 

Shelf Registration Statement: Any Registration Statement relating to a Shelf Registration. 

Shelf Suspension Period: See Section 3(a) hereof. 
 Subsequent Shelf Registration: See Section 3(b) hereof. 
 TIA:
The Trust Indenture Act of 1939, as amended. 
 Trustee: The trustee under the Indenture and the trustee under any
indenture (if different) governing the Exchange Securities (and the related Guarantees). 
 Underwritten registration or
underwritten offering: A registration in which securities of the Issuer is sold to an underwriter for reoffering to the public. 
 Except as otherwise specifically provided, all references in this Agreement to acts, laws, statutes, rules, regulations, releases, forms, no-action letters and other regulatory requirements (collectively,
“Regulatory Requirements”) shall be deemed to refer also to any amendments thereto and all subsequent Regulatory Requirements adopted as a replacement thereto having substantially the same effect therewith; provided that
Rule 144 shall not be deemed to amend or replace Rule 144A. 

  
 -4-

  

	 	2.	Exchange Offer 

 (a)
Unless the Exchange Offer would violate applicable law or any applicable interpretation of the staff of the SEC, the Issuer shall use its reasonable best efforts to file with the SEC a Registration Statement (the “Exchange Offer Registration
Statement”) on an appropriate registration form with respect to a registered offer (the “Exchange Offer”) to exchange any and all of the Registrable Securities for a like aggregate principal amount of debt securities of the
Issuer (the “Exchange Notes”), guaranteed, to the extent applicable, on an senior secured basis by the Guarantors (the “New Guarantees” and, together with the Exchange Notes, the “Exchange
Securities”), that are identical in all material respects to the Notes, except that (i) the Exchange Notes shall contain no restrictive legend thereon, (ii) interest thereon shall accrue from the last date on which interest was
paid on such Notes or, if no such interest has been paid, from the Issue Date and (iii) the Exchange Securities shall be entitled to the benefits of the Indenture or trust indenture which is identical in all material respects to the Indenture
(other than such changes to the Indenture or any such identical trust indenture as are necessary to comply with the TIA) and which, in either case, has been qualified under the TIA. The Exchange Offer shall comply with all applicable tender offer
rules and regulations under the Exchange Act and other applicable laws. The Issuer shall use its reasonable best efforts to (x) prepare and file with the SEC the Exchange Offer Registration Statement with respect to the Exchange Offer;
(y) keep the Exchange Offer open for at least 20 Business Days (or longer if required by applicable law) after the date that notice of the Exchange Offer is mailed to Holders; and (z) consummate the Exchange Offer on or prior to the 360th
day following the Issue Date. 
 Each Holder (including, without limitation, each Participating Broker-Dealer) that participates
in the Exchange Offer, as a condition to participation in the Exchange Offer, will be required to represent to the Issuer in writing (which may be contained in the applicable letter of transmittal) that: (i) any Exchange Securities acquired in
exchange for Registrable Securities tendered are being acquired in the ordinary course of business of the Person receiving such Exchange Securities, whether or not such recipient is such Holder itself; (ii) at the time of the commencement or
consummation of the Exchange Offer neither such Holder nor, to the actual knowledge of such Holder, any other Person receiving Exchange Securities from such Holder has an arrangement or understanding with any Person to participate in the
distribution (within the meaning of the Securities Act) of the Exchange Securities in violation of the Securities Act; (iii) neither the Holder nor, to the actual knowledge of such Holder, any other Person receiving Exchange Securities from
such Holder is an “affiliate” (as defined in Rule 405) of the Issuer or, if it is an affiliate of the Issuer, it will comply with the registration and prospectus delivery requirements of the Securities Act to the extent applicable and
will provide information to be included in the Shelf Registration Statement in accordance with Section 6 hereof in order to have their Securities included in the Shelf Registration Statement and benefit from the provisions regarding Additional
Interest in Section 5 hereof; (iv) if such Holder is not a Broker-Dealer, neither such Holder nor, to the actual knowledge of such Holder, any other Person receiving Exchange Securities from such Holder is engaging or intends to engage in
a distribution of the Exchange Securities; and (v) if such Holder is a Participating Broker-Dealer, such Holder has acquired the Registrable Securities for its own account in exchange for Securities that were acquired as a result of
market-making activities or other trading activities and that it will comply with the applicable provisions of the Securities Act (including, but not limited to, the prospectus delivery requirements thereunder). 

Upon consummation of the Exchange Offer in accordance with this Section 2, the provisions of this Agreement shall continue to apply,
mutatis mutandis, solely with respect to Registrable Securities that are Exchange Securities as to which Section 2(c)(iv) is applicable and Exchange Securities held by Participating Broker-Dealers, and the Issuer shall have no
further obligation to register Registrable Securities and Exchange Securities as to which clause 2(c)(iv) hereof applies) pursuant to Section 3 hereof. 

  
 -5-

 (b) The Issuer shall include within the Prospectus contained in the Exchange Offer
Registration Statement a section entitled “Plan of Distribution,” which shall contain a summary statement of the positions taken or policies made by the staff of the SEC with respect to the potential “underwriter” status of any
Broker-Dealer that is the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act) of Exchange Notes received by such Broker-Dealer in the Exchange Offer (a “Participating Broker-Dealer”), whether such
positions or policies have been publicly disseminated by the staff of the SEC or such positions or policies represent the prevailing views of the staff of the SEC. Such “Plan of Distribution” section shall also expressly permit, to the
extent permitted by applicable policies and regulations of the SEC, the use of the Prospectus by all Participating Broker-Dealers, and include a statement describing the means by which Participating Broker-Dealers may resell the Exchange Securities
in compliance with the Securities Act. 
 The Issuer shall use its reasonable best efforts to keep the Exchange Offer
Registration Statement effective and to amend and supplement the Prospectus contained therein in order to permit such Prospectus to be lawfully delivered by all Persons subject to the prospectus delivery requirements of the Securities Act for such
period of time as is necessary to comply with applicable law in connection with any resale of the Exchange Securities; provided, however, that such period shall not be required to exceed 90 days, or such longer period if extended
pursuant to the last paragraph of Section 6 hereof (the “Applicable Period”). 
 In connection with the
Exchange Offer, the Issuer shall: 
 (1) mail, or cause to be mailed, to each Holder of record entitled to
participate in the Exchange Offer a copy of the Prospectus forming part of the Exchange Offer Registration Statement, together with an appropriate letter of transmittal and related documents; 

(2) use their respective reasonable best efforts to keep the Exchange Offer open for not less than 20 Business Days from
the date that notice of the Exchange Offer is mailed to Holders (or longer if required by applicable law); 
 (3)
utilize the services of a depositary for the Exchange Offer with an address in the Borough of Manhattan, The City of New York or in Wilmington, Delaware; 
 (4) permit Holders to withdraw tendered Notes at any time prior to the close of business, New York time, on the last Business Day on which the Exchange Offer remains open; and 

(5) otherwise comply in all material respects with all laws, rules and regulations applicable to the Exchange Offer.

 As soon as practicable after the close of the Exchange Offer, the Issuer shall: 

(1) accept for exchange all Registrable Securities validly tendered and not validly withdrawn pursuant to the Exchange
Offer; 
 (2) deliver to the Trustee for cancellation all Registrable Securities so accepted for exchange; and

 (3) cause the Trustee to authenticate and deliver promptly to each Holder of Notes or Exchange Notes, as the
case may be, equal in aggregate principal amount to the Notes of such Holder so accepted for exchange; provided that, in the case of any Notes held in global form by a depositary, authentication and delivery to such depositary of one or more
replacement Notes in global form in an equivalent principal amount thereto for the account of such Holders in accordance with the Indenture shall satisfy such authentication and delivery requirement. 

  
 -6-

 The Exchange Offer shall not be subject to any conditions, other than that (i) the
Exchange Offer does not violate applicable law or any applicable interpretation of the staff of the SEC; (ii) no action or proceeding shall have been instituted or threatened in any court or by any governmental agency which might materially
impair the ability of the Issuer to proceed with the Exchange Offer, and no material adverse development shall have occurred in any existing action or proceeding with respect to the Issuer; and (iii) all governmental approvals shall have been
obtained, which approvals the Issuer deems necessary for the consummation of the Exchange Offer. 
 The Exchange Securities (and
related guarantees) shall be issued under (i) the Indenture or (ii) an indenture identical in all material respects to the Indenture and which, in either case, has been qualified under the TIA or is exempt from such qualification and shall
provide that the Exchange Securities shall not be subject to the transfer restrictions set forth in the Indenture. The Indenture or such indenture shall provide that the Exchange Notes and the Notes shall vote and consent together on all matters as
one class and that none of the Exchange Notes or the Notes will have the right to vote or consent as a separate class on any matter. 
 (c) If, (i) because of any change in law or in currently prevailing interpretations of the staff of the SEC, the Issuer is not permitted to effect the Exchange Offer, (ii) the Exchange Offer is
not consummated within 360 days of the Issue Date, (iii) in the case of any Holder that participates in the Exchange Offer, such Holder does not receive Exchange Securities on the date of the exchange that may be sold without restriction
under state and federal securities laws (other than due solely to the status of such Holder as an affiliate of the Issuer within the meaning of the Securities Act) and so notifies the Issuer within 30 days after such Holder first becomes aware of
such restrictions, then, in the case of each of clauses (i) through (iv) of this sentence, the Issuer shall promptly deliver to the Trustee (to deliver to the Holders) written notice thereof (the “Shelf Notice”) and shall
file a Shelf Registration pursuant to Section 3 hereof. 
  

	 	3.	Shelf Registration 

 If at
any time a Shelf Notice is delivered as contemplated by Section 2(c) hereof, then: 
 (a) Shelf
Registration. The Issuer shall promptly file with the SEC a Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415 covering all of the Registrable Securities (the “Initial Shelf
Registration”). The Issuer shall use its reasonable best efforts to file with the SEC the Initial Shelf Registration on or prior to the Filing Date. The Initial Shelf Registration shall be on Form S-1 or another appropriate form
permitting registration of such Registrable Securities for resale by Holders in the manner or manners designated by them (including, without limitation, one or more underwritten offerings). 

The Issuer shall use its respective reasonable best efforts to cause the Shelf Registration to be declared effective under
the Securities Act on or prior to the Effectiveness Date and to keep the Initial Shelf Registration continuously effective under the Securities Act until the earliest of (i) the date that is two years from the Issue Date or (ii) such
shorter period ending when all Registrable Securities covered by the Initial Shelf Registration have been sold in the manner set forth and as contemplated in the Initial Shelf Registration or, if applicable, a Subsequent Shelf Registration (the
“Effectiveness Period”); provided, however, that the Effectiveness Period in respect of the Initial Shelf Registration shall be extended to the extent required to permit dealers to comply with the applicable prospectus
delivery requirements of Rule 174 under the Securities Act and as otherwise provided herein. Notwithstanding anything to the contrary in this Agreement, at 

  
 -7-

 
any time, the Issuer may delay the filing of any Initial Shelf Registration Statement or delay or suspend the effectiveness thereof, for a reasonable period of time, but not in excess of 60
consecutive days or more than three (3) times during any calendar year (each, a “Shelf Suspension Period”), if the Board of Directors of the Issuer determines reasonably and in good faith that the filing of any such Initial
Shelf Registration Statement or the continuing effectiveness thereof would require the disclosure of non-public material information that, in the reasonable judgment of the Board of Directors of the Issuer, would be detrimental to the Issuer if so
disclosed or would otherwise materially adversely affect a financing, acquisition, disposition, merger or other material transaction or if such action is required by applicable law. 

(b) Withdrawal of Stop Orders; Subsequent Shelf Registrations. If the Initial Shelf Registration or any Subsequent
Shelf Registration ceases to be effective for any reason at any time during the Effectiveness Period (other than because of the sale of all of the Securities registered thereunder), the Issuer shall use its reasonable best efforts to obtain the
prompt withdrawal of any order suspending the effectiveness thereof, and in any event shall file an additional Shelf Registration Statement pursuant to Rule 415 covering all of the Registrable Securities covered by and not sold under the Initial
Shelf Registration or an earlier Subsequent Shelf Registration (each, a “Subsequent Shelf Registration”). If a Subsequent Shelf Registration is filed, the Issuer shall use its reasonable best efforts to cause the Subsequent Shelf
Registration to be declared effective under the Securities Act as soon as practicable after such filing and to keep such subsequent Shelf Registration continuously effective for a period equal to the number of days in the Effectiveness Period less
the aggregate number of days during which the Initial Shelf Registration or any Subsequent Shelf Registration was previously continuously effective. As used herein the term “Shelf Registration” means the Initial Shelf Registration
and any Subsequent Shelf Registration. 
 (c) Supplements and Amendments. The Issuer shall promptly
supplement and amend the Shelf Registration if required by the rules, regulations or instructions applicable to the registration form used for such Shelf Registration, if required by the Securities Act, or if reasonably requested by the Holders of a
majority in aggregate principal amount of the Registrable Securities (or their counsel) covered by such Registration Statement with respect to the information included therein with respect to one or more of such Holders, or, if reasonably requested
by any underwriter of such Registrable Securities, with respect to the information included therein with respect to such underwriter. 
  

	 	4.	[Reserved] 

  

	 	5.	Additional Interest 

 (a)
The Issuer and the Dealer Managers agree that the Holders will suffer damages if the Issuer fails to fulfill its obligations under Section 2 or Section 3 hereof and that it would not be feasible to ascertain the extent of such damages with
precision. Accordingly, the Issuer and the Guarantors agree to pay, jointly and severally, as liquidated damages, additional interest on the Notes (“Additional Interest”) if (A) the Issuer has neither (i) exchanged
Exchange Securities for all Securities of a series validly tendered in accordance with the terms of the Exchange Offer nor (ii) had a Shelf Registration Statement declared effective, in either case on or prior to the 360th day after the Issue
Date, (B) notwithstanding clause (A), the Issuer is required to file a Shelf Registration Statement and such Shelf Registration Statement is not declared effective on or prior to the 360th day after the date such Shelf Registration Statement
filing was requested or required or (C), if applicable, a Shelf Registration has been declared effective and such Shelf Registration ceases to be effective at any time during the Effectiveness Period (other than because of the sale of all of
the Securities of a series registered thereunder), then Additional Interest shall accrue on the 

  
 -8-

 
principal amount of the Notes in such series at a rate of 0.25% per annum (which rate will be increased by an additional 0.25% per annum for each subsequent 90 day period that such
Additional Interest continues to accrue, provided that the rate at which such Additional Interest accrues may in no event exceed 0.50% per annum) (such Additional Interest to be calculated by the Issuer) commencing on the
(x) 361st day after the Issue Date, in the case of (A) above; (y) the 361st day after the date such Shelf Registration Statement filing was requested or required in the case of (B) above; or (z) the day such Shelf
Registration ceases to be effective in the case of (C) above; provided, however, that upon the exchange of the Exchange Securities for all Securities tendered (in the case of clause (A) of this Section 5(a), upon
the effectiveness of the applicable Shelf Registration Statement (in the case of clause (B) of this Section 5(a), or upon the effectiveness of the applicable Shelf Registration Statement which had ceased to remain effective (in the case of
clause (C) of this Section 5(a), Additional Interest on the Notes in respect of which such events relate as a result of such clause (or the relevant subclause thereof), as the case may be, shall cease to accrue. Notwithstanding any other
provisions of this Section 5, the Issuer shall not be obligated to pay Additional Interest provided in Section 5(a)(B) during a Shelf Suspension Period permitted by Section 3(a) hereof. 

(b) The Issuer shall notify the Trustee within five business days after each and every date on which an event occurs in respect of which
Additional Interest is required to be paid (an “Event Date”). Any amounts of Additional Interest due pursuant to (a) of this Section 5 will be payable in cash, semiannually on each January 15 and July 15 (to the
holders of record on the January 1 and July 1 immediately preceding such dates), commencing with the first such date occurring after any such Additional Interest commences to accrue. The amount of Additional Interest will be determined by
the Issuer by multiplying the applicable Additional Interest rate by the principal amount of the Registrable Securities, multiplied by a fraction, the numerator of which is the number of days such Additional Interest rate was applicable during such
period (determined on the basis of a 360 day year comprised of twelve 30-day months and, in the case of a partial month, the actual number of days elapsed), and the denominator of which is 360. 

 

	 	6.	Registration Procedures 

In connection with the filing of any Registration Statement pursuant to Section 2 or 3 hereof, the Issuer shall effect such
registrations to permit the sale of the securities covered thereby in accordance with the intended method or methods of disposition thereof, and pursuant thereto and in connection with any Registration Statement filed by the Issuer hereunder the
Issuer shall: 
 (a) Prepare and file with the SEC (prior to the applicable Filing Date in the case of a Shelf
Registration), a Registration Statement or Registration Statements as prescribed by Section 2 or 3 hereof, and use its reasonable best efforts to cause each such Registration Statement to become effective and remain effective as provided
herein; provided, however, that if (1) such filing is pursuant to Section 3 hereof or (2) a Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be
delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period relating thereto from whom the Issuer has received prior written notice that it will be a Participating
Broker-Dealer in the Exchange Offer, before filing any Registration Statement or Prospectus or any amendments or supplements thereto, the Issuer shall furnish to and afford counsel for the Holders of the Registrable Securities covered by such
Registration Statement (with respect to a Registration Statement filed pursuant to Section 3 hereof) or counsel for such Participating Broker-Dealer (with respect to any such Registration Statement), as the case may be, and counsel to the
managing underwriters, if any, a reasonable opportunity to review copies of all such documents (including copies of any documents to be incorporated by reference therein and all exhibits thereto) proposed to be filed (in each case, at least three
Business Days prior to such filing). The Issuer shall not file any Registration Statement or Prospectus or any amendments 

  
 -9-

 
or supplements thereto if the Holders of a majority in aggregate principal amount of the Registrable Securities covered by such Registration Statement, their counsel or the managing underwriters,
if any, shall reasonably object. 
 (b) Prepare and file with the SEC such amendments and post-effective
amendments to each Shelf Registration Statement or Exchange Offer Registration Statement, as the case may be, as may be necessary to keep such Registration Statement continuously effective for the Effectiveness Period, the Applicable Period or until
consummation of the Exchange Offer, as the case may be; cause the related Prospectus to be supplemented by any Prospectus supplement required by applicable law, and as so supplemented to be filed pursuant to Rule 424; and comply with the
provisions of the Securities Act and the Exchange Act applicable to it with respect to the disposition of all securities covered by such Registration Statement as so amended or in such Prospectus as so supplemented and with respect to the subsequent
resale of any securities being sold by an Participating Broker-Dealer covered by any such Prospectus in all material respects. The Issuer shall be deemed not to have used its reasonable best efforts to keep a Registration Statement effective if it
voluntarily takes any action that is reasonably expected to result in selling Holders of the Registrable Securities covered thereby or Participating Broker-Dealers seeking to sell Exchange Securities not being able to sell such Registrable
Securities or such Exchange Securities during that period unless such action is required by applicable law or permitted by this Agreement. 
 (c) If (1) a Shelf Registration is filed pursuant to Section 3 hereof or (2) a Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2 hereof is
required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period relating thereto from whom the Issuer has received written notice that it will be a Participating
Broker-Dealer in the Exchange Offer, notify the selling Holders of Registrable Securities (with respect to a Registration Statement filed pursuant to Section 3 hereof), or each such Participating Broker-Dealer (with respect to any such
Registration Statement), as the case may be, their counsel and the managing underwriters, if any, promptly (but in any event within three Business Days), and confirm such notice in writing, (i) when a Prospectus or any Prospectus supplement or
post-effective amendment has been filed, and, with respect to a Registration Statement or any post-effective amendment, when the same has become effective under the Securities Act (including in such notice a written statement that any Holder may,
upon request, obtain, at the sole expense of the Issuer, one conformed copy of such Registration Statement or post-effective amendment including financial statements and schedules, documents incorporated or deemed to be incorporated by reference and
exhibits), (ii) of the issuance by the SEC of any stop order suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of any preliminary prospectus or the initiation of any proceedings for that
purpose, (iii) if at any time when a prospectus is required by the Securities Act to be delivered in connection with sales of the Registrable Securities or resales of Exchange Securities by Participating Broker-Dealers the representations and
warranties of the Issuer contained in any agreement (including any underwriting agreement) contemplated by Section 6(m) hereof cease to be true and correct, (iv) of the receipt by the Issuer of any notification with respect to the
suspension of the qualification or exemption from qualification of a Registration Statement or any of the Registrable Securities or the Exchange Securities to be sold by any Participating Broker-Dealer for offer or sale in any jurisdiction, or the
initiation or threatening of any proceeding for such purpose, (v) of the happening of any event, the existence of any condition or any information becoming known that makes any statement made in such Registration Statement or related Prospectus
or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in or amendments or supplements to such Registration Statement, Prospectus or documents so that,

  
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in the case of the Registration Statement, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the
statements therein not misleading, and that in the case of the Prospectus, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in
the light of the circumstances under which they were made, not misleading, and (vi) of the Issuer’s determination that a post-effective amendment to a Registration Statement would be appropriate. 

(d) Use its reasonable best efforts to prevent the issuance of any order suspending the effectiveness of a Registration
Statement or of any order preventing or suspending the use of a Prospectus or suspending the qualification (or exemption from qualification) of any of the Registrable Securities or the Exchange Securities to be sold by any Participating
Broker-Dealer, for sale in any jurisdiction. 
 (e) If a Shelf Registration is filed pursuant to Section 3
and if requested during the Effectiveness Period by the managing underwriter or underwriters (if any) or the Holders of a majority in aggregate principal amount of the Registrable Securities being sold in connection with an underwritten offering,
(i) as promptly as practicable incorporate in a prospectus supplement or post-effective amendment such information as the managing underwriter or underwriters (if any), such Holders or counsel for either of them reasonably request to be
included therein, (ii) make all required filings of such prospectus supplement or such post-effective amendment as soon as practicable after the Issuer has received notification of the matters to be incorporated in such prospectus supplement or
post-effective amendment, and (iii) supplement or make amendments to such Registration Statement. 
 (f) If
(1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by
any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, furnish to each selling Holder of Registrable Securities (with respect to a Registration Statement filed pursuant to Section 3 hereof) and to
each such Participating Broker-Dealer who so requests (with respect to any such Registration Statement) and to their respective counsel and each managing underwriter, if any, at the sole expense of the Issuer, one conformed copy of the Registration
Statement or Registration Statements and each post-effective amendment thereto, including financial statements and schedules, and, if requested, all documents incorporated or deemed to be incorporated therein by reference and all exhibits.

 (g) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus
contained in the Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable
Period, deliver to each selling Holder of Registrable Securities (with respect to a Registration Statement filed pursuant to Section 3 hereof), or each such Participating Broker-Dealer (with respect to any such Registration Statement), as the
case may be, their respective counsel, and the underwriters, if any, at the sole expense of the Issuer, as many copies of the Prospectus or Prospectuses (including each form of preliminary prospectus) and each amendment or supplement thereto and any
documents incorporated by reference therein as such Persons may reasonably request; and, subject to the last paragraph of this Section 6, the Issuer hereby consents to the use of such Prospectus and each amendment or supplement thereto by each
of the selling Holders of Registrable Securities or each such Participating Broker-Dealer, as the case may be, and the underwriters or agents, if any, and dealers, if any, in connection with the offering and sale of the Registrable Securities
covered by, or the sale by Participating Broker-Dealers of the Exchange Securities pursuant to, such Prospectus and any amendment or supplement thereto. 

  
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 (h) Prior to any public offering of Registrable Securities or any delivery
of a Prospectus contained in the Exchange Offer Registration Statement by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, use its reasonable best efforts to register or qualify, and to cooperate
with the selling Holders of Registrable Securities or each such Participating Broker-Dealer, as the case may be, the managing underwriter or underwriters, if any, and their respective counsel in connection with the registration or qualification (or
exemption from such registration or qualification) of such Registrable Securities for offer and sale under the securities or Blue Sky laws of such jurisdictions within the United States as any selling Holder, Participating Broker-Dealer, or the
managing underwriter or underwriters reasonably request in writing; provided, however, that where Exchange Securities held by Participating Broker-Dealers or Registrable Securities are offered other than through an underwritten
offering, the Issuer agrees to cause its counsel to perform Blue Sky investigations and file registrations and qualifications required to be filed pursuant to this Section 6(h), keep each such registration or qualification (or exemption
therefrom) effective during the period such Registration Statement is required to be kept effective and do any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions of the Exchange Securities held by
Participating Broker-Dealers or the Registrable Securities covered by the applicable Registration Statement; provided, however, that the Issuer shall not be required to (A) qualify generally to do business in any jurisdiction
where it is not then so qualified, (B) take any action that would subject it to general service of process in any such jurisdiction where it is not then so subject or (C) subject itself to taxation in excess of a nominal dollar amount in
any such jurisdiction where it is not then so subject. 
 (i) If a Shelf Registration is filed pursuant to
Section 3 hereof, cooperate with the selling Holders of Registrable Securities and the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be
sold, which certificates shall not bear any restrictive legends and shall be in a form eligible for deposit with The Depository Trust Company; and enable such Registrable Securities to be in such denominations (subject to applicable requirements
contained in the Indenture) and registered in such names as the managing underwriter or underwriters, if any, or Holders may request. 
 (j) Use its reasonable best efforts to cause the Registrable Securities covered by the Registration Statement to be registered with or approved by such other U.S. governmental agencies or authorities as
may be necessary to enable the seller or sellers thereof or the underwriter or underwriters, if any, to consummate the disposition of such Registrable Securities, except as may be required solely as a consequence of the nature of such selling
Holder’s business, in which case the Issuer will cooperate in all respects with the filing of such Registration Statement and the granting of such approvals. 

(k) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the
Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, upon the
occurrence of any event contemplated by paragraph 6(c)(v) or 6(c)(vi) hereof, as promptly as practicable prepare and (subject to Section 6(a) hereof) file with the SEC, at the sole expense of the Issuer, a supplement or post-effective
amendment to the Registration Statement or a supplement to the related Prospectus or any document incorporated therein by reference, or file any other required document so that, as thereafter delivered to the purchasers of the Registrable Securities
being sold thereunder 

  
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(with respect to a Registration Statement filed pursuant to Section 3 hereof) or to the purchasers of the Exchange Securities to whom such Prospectus will be delivered by a Participating
Broker-Dealer (with respect to any such Registration Statement), any such Prospectus will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein,
in the light of the circumstances under which they were made, not misleading. 
 (l) Prior to the effective date
of the first Registration Statement relating to the Registrable Securities, (i) provide the Trustee with certificates for the Registrable Securities in a form eligible for deposit with The Depository Trust Company and (ii) provide a CUSIP
number for the Registrable Securities. 
 (m) In connection with any underwritten offering of Registrable
Securities pursuant to a Shelf Registration, enter into an underwriting agreement as is customary in underwritten offerings of debt securities similar to the Securities (including, without limitation, a customary condition to the obligations of the
underwriters that the underwriters shall have received “cold comfort” letters and updates thereof in form, scope and substance reasonably satisfactory to the managing underwriter or underwriters from the independent registered public
accountants of the Issuer (and, if necessary, any other independent registered public accountants of the Issuer, or of any business acquired by the Issuer, for which financial statements and financial data are, or are required to be, included or
incorporated by reference in the Registration Statement), addressed to each of the underwriters, such letters to be in customary form and covering matters of the type customarily covered in “cold comfort” letters in connection with
underwritten offerings of debt securities similar to the Securities), and take all such other actions as are reasonably requested by the managing underwriter or underwriters in order to expedite or facilitate the registration or the disposition of
such Registrable Securities and, in such connection, (i) make such representations and warranties to, and covenants with, the underwriters with respect to the business of the Issuer (including any acquired business, properties or entity, if
applicable), and the Registration Statement, Prospectus and documents, if any, incorporated or deemed to be incorporated by reference therein, in each case, as are customarily made by issuers to underwriters in underwritten offerings of debt
securities similar to the Securities, and confirm the same in writing if and when requested; (ii) obtain the written opinions of counsel to the Issuer, and written updates thereof in form, scope and substance reasonably satisfactory to the
managing underwriter or underwriters, addressed to the underwriters covering the matters customarily covered in opinions reasonably requested in underwritten offerings; and (iii) if an underwriting agreement is entered into, the same shall
contain indemnification provisions and procedures no less favorable to the sellers and underwriters, if any, than those set forth in Section 8 hereof (or such other provisions and procedures reasonably acceptable to Holders of a majority in
aggregate principal amount of Registrable Securities covered by such Registration Statement and the managing underwriter or underwriters or agents, if any). The above shall be done at each closing under such underwriting agreement, or as and to the
extent required thereunder. 
 (n) If (1) a Shelf Registration is filed pursuant to Section 3 hereof,
or (2) a Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities
during the Applicable Period, make available for inspection by any Dealer Manager, any selling Holder of such Registrable Securities being sold (with respect to a Registration Statement filed pursuant to Section 3 hereof), or each such
Participating Broker-Dealer, as the case may be, any underwriter participating in any such disposition of Registrable Securities, if any, and any attorney, accountant or other agent retained by any such selling Holder or each such Participating
Broker-Dealer (with respect to any such Registration Statement), 

  
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as the case may be, or underwriter (any such Dealer Managers, Holders, Participating Broker-Dealers, underwriters, attorneys, accountants or agents, collectively, the
“Inspectors”), upon written request, at the offices where normally kept, during reasonable business hours, all pertinent financial and other records, pertinent corporate documents and instruments of the Issuer and subsidiaries of
the Issuer (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise any applicable due diligence responsibilities, and cause the officers, directors and employees of the Issuer and any of its
subsidiaries to supply all information (“Information”) reasonably requested by any such Inspector in connection with such due diligence responsibilities. Each Inspector shall agree in writing that it will keep the Records and
Information confidential, to use the Information only for due diligence purposes, to abstain from using the Information as the basis for any market transactions in Securities of the Issuer and that it will not disclose any of the Records or
Information that the Issuer determines, in good faith, to be confidential and notifies the Inspectors in writing are confidential unless (i) the disclosure of such Records or Information is necessary to avoid or correct a misstatement or
omission in such Registration Statement or Prospectus, (ii) the release of such Records or Information is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, (iii) disclosure of such Records or Information
is necessary or advisable, in the opinion of counsel for any Inspector, in connection with any action, claim, suit or proceeding, directly or indirectly, involving or potentially involving such Inspector and arising out of, based upon, relating to,
or involving this Agreement or the Dealer Manager Agreement, or any transactions contemplated hereby or thereby or arising hereunder or thereunder, or (iv) the information in such Records or Information has been made generally available to the
public other than by an Inspector or an “affiliate” (as defined in Rule 405) thereof; provided, however, that prior notice shall be provided as soon as practicable to the Issuer of the potential disclosure of any
information by such Inspector pursuant to clause (ii) or (iii) of this sentence to permit the Issuer to obtain a protective order (or waive the provisions of this paragraph (n)) and that such Inspector shall take such actions as are
reasonably necessary to protect the confidentiality of such information (if practicable) to the extent such action is otherwise not inconsistent with, an impairment of or in derogation of the rights and interests of the Holder or any Inspector.

 (o) Provide an indenture trustee for the Registrable Securities or the Exchange Securities, as the case may
be, and cause the Indenture or the trust indenture provided for in Section 2(a) hereof, as the case may be, to be qualified under the TIA not later than the effective date of the first Registration Statement relating to the Registrable
Securities; and in connection therewith, cooperate with the trustee under any such indenture and the Holders of the Registrable Securities, to effect such changes (if any) to such indenture as may be required for such indenture to be so qualified in
accordance with the terms of the TIA; and execute, and use its commercially reasonable best efforts to cause such trustee to execute, all documents as may be required to effect such changes, and all other forms and documents required to be filed
with the SEC to enable such indenture to be so qualified in a timely manner. 
 (p) Comply in all material
respects with all applicable rules and regulations of the SEC and make generally available to its securityholders with regard to any applicable Registration Statement, a consolidated earning statement satisfying the provisions of Section 11(a)
of the Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act) no later than 60 days after the end of any fiscal quarter (or 105 days after the end of any 12-month period if such period is a
fiscal year) (i) commencing at the end of any fiscal quarter in which Registrable Securities are sold to underwriters in a firm commitment or best efforts underwritten offering and (ii) if not sold to underwriters in such an offering,
commencing on the first day of the first fiscal quarter of the Issuer, after the effective date of a Registration Statement, which statements shall cover said 12-month periods; provided that this requirement shall be deemed satisfied by the
Issuer complying with Section 4.03 of the Indenture. 

  
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 (q) Upon consummation of the Exchange Offer, obtain an opinion of counsel to
the Issuer, in a form customary for underwritten transactions, addressed to the Trustee for the benefit of all Holders of Registrable Securities participating in the Exchange Offer that the Exchange Securities the related guarantees and the related
indenture constitute legal, valid and binding obligations of the Issuer, enforceable against the Issuer in accordance with their respective terms, subject to customary exceptions and qualifications. If the Exchange Offer is to be consummated, upon
delivery of the Registrable Securities by Holders to the Issuer (or to such other Person as directed by the Issuer), in exchange for the Exchange Securities (and the related guarantees), the Issuer shall mark, or cause to be marked, on such
Registrable Securities that such Registrable Securities are being cancelled in exchange for the Exchange Securities (and the related guarantees); in no event shall such Registrable Securities be marked as paid or otherwise satisfied. 

(r) Use reasonable efforts to cooperate with each seller of Registrable Securities covered by any Registration Statement
and each underwriter, if any, participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with the Financial Industry Regulatory Authority Inc.
(“FINRA”). 
 (s) Use its respective reasonable best efforts to take all other steps reasonably
necessary to effect the registration of the Exchange Securities and/or Registrable Securities covered by a Registration Statement contemplated hereby. 
 The Issuer may require each seller of Registrable Securities as to which any registration is being effected to furnish to the Issuer such information regarding such seller and the distribution of such
Registrable Securities as the Issuer may, from time to time, reasonably request. The Issuer may exclude from such registration the Registrable Securities of any seller so long as such seller fails to furnish such information within a reasonable time
after receiving such request. Each seller as to which any Shelf Registration is being effected agrees to furnish promptly to the Issuer all information required to be disclosed in order to make the information previously furnished to the Issuer by
such seller not materially misleading. 
 If any such Registration Statement refers to any Holder by name or otherwise as the
holder of any securities of the Issuer, then such Holder shall have the right to require (i) the insertion therein of language, in form and substance reasonably satisfactory to such Holder, to the effect that the holding by such Holder of such
securities is not to be construed as a recommendation by such Holder of the investment quality of the securities covered thereby and that such holding does not imply that such Holder will assist in meeting any future financial requirements of the
Issuer, or (ii) in the event that such reference to such Holder by name or otherwise is not required by the Securities Act or any similar federal statute then in force, the deletion of the reference to such Holder in any amendment or supplement
to the Registration Statement filed or prepared subsequent to the time that such reference ceases to be required. 
 Each Holder
of Registrable Securities and each Participating Broker-Dealer agrees by its acquisition of such Registrable Securities or Exchange Securities to be sold by such Participating Broker-Dealer, as the case may be, that, upon actual receipt of any
notice from the Issuer of the happening of any event of the kind described in Section 6(c)(ii), 6(c)(iv), 6(c)(v) or 6(c)(vi) hereof, such Holder will forthwith discontinue disposition of such Registrable Securities covered by such Registration
Statement or Prospectus or Exchange Securities to be sold by such Holder or Participating Broker-Dealer, as the case may be, until such Holder’s or Participating Broker-Dealer’s receipt of the copies of the supplemented or

  
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amended Prospectus contemplated by Section 6(k) hereof, or until it is advised in writing (the “Advice”) by the Issuer that the use of the applicable Prospectus may be
resumed, and has received copies of any amendments or supplements thereto. In the event that the Issuer shall give any such notice, each of the Applicable Period and the Effectiveness Period shall be extended by the number of days during such
periods from and including the date of the giving of such notice to and including the date when each seller of Registrable Securities covered by such Registration Statement or Exchange Securities to be sold by such Participating Broker-Dealer, as
the case may be, shall have received (x) the copies of the supplemented or amended Prospectus contemplated by Section 6(k) hereof or (y) the Advice. 
  

	 	7.	Registration Expenses 

All fees and expenses incident to the performance of or compliance with this Agreement by the Issuer of its obligations under Sections 2,
3, 6 and 9 shall be borne by the Issuer, whether or not the Exchange Offer Registration Statement or any Shelf Registration Statement is filed or becomes effective or the Exchange Offer is consummated, including, without limitation, (i) all
registration and filing fees (including, without limitation, (A) fees with respect to filings required to be made with FINRA in connection with an underwritten offering and (B) fees and expenses of compliance with state securities or Blue
Sky laws (including, without limitation, reasonable fees and disbursements of counsel in connection with Blue Sky qualifications of the Registrable Securities or Exchange Securities and determination of the eligibility of the Registrable Securities
or Exchange Securities for investment under the laws of such jurisdictions in the United States (x) where the holders of Registrable Securities are located, in the case of the Exchange Securities, or (y) as provided in Section 6(h)
hereof, in the case of Registrable Securities or Exchange Securities to be sold by a Participating Broker-Dealer during the Applicable Period)), (ii) printing expenses, including, without limitation, printing prospectuses if the printing of
prospectuses is requested by the managing underwriter or underwriters, if any, by the Holders of a majority in aggregate principal amount of the Registrable Securities included in any Registration Statement or in respect of Registrable Securities or
Exchange Securities to be sold by any Participating Broker-Dealer during the Applicable Period, as the case may be, (iii) fees and expenses of the Trustee, any exchange agent and their counsel, (iv) fees and disbursements of counsel for
the Issuer and, in the case of a Shelf Registration, reasonable fees and disbursements of one special counsel for all of the sellers of Registrable Securities selected by the Holder of a majority in aggregate principal amount of Registrable
Securities covered by such Shelf Registration (which counsel shall be reasonably satisfactory to the Issuer) exclusive of any counsel retained pursuant to Section 8 hereof), (v) fees and disbursements of all independent registered public
accountants referred to in Section 6(m) hereof (including, without limitation, the expenses of any “cold comfort” letters required by or incident to such performance), (vi) rating agency fees, if any, and any fees associated with
making the Registrable Securities or Exchange Securities eligible for trading through The Depository Trust Company, (vii) Securities Act liability insurance, if the Issuer desires such insurance, (viii) fees and expenses of all other
Persons retained by the Issuer, (ix) internal expenses of the Issuer (including, without limitation, all salaries and expenses of officers and employees of the Issuer performing legal or accounting duties), (x) the expense of any annual
audit, (xi) any fees and expenses incurred in connection with the listing of the securities to be registered on any securities exchange, and the obtaining of a rating of the securities, in each case, if applicable and (xii) the expenses
relating to printing, word processing and distributing all Registration Statements, underwriting agreements, indentures and any other documents necessary in order to comply with this Agreement. 

 

	 	8.	Indemnification and Contribution 

 (a) The Issuer and the Guarantors jointly and severally agree to indemnify and hold harmless each Holder of Registrable Securities and each Participating Broker-Dealer selling Exchange Securities during
the Applicable Period, and each Person, if any, who controls any such Persons or its affiliates within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (each, a

  
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“Participant”) against any losses, claims, damages or liabilities, joint or several, to which any Participant may become subject under the Securities Act, the Exchange Act or
otherwise, insofar as any such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon: 
 (i) any untrue statement or alleged untrue statement of any material fact contained in any Registration Statement (or any amendment thereto) or Prospectus (as amended or supplemented if the Issuer shall
have furnished any amendments or supplements thereto) or any preliminary prospectus; or 
 (ii) the omission or
alleged omission to state, in any Registration Statement (or any amendment thereto) or Prospectus (as amended or supplemented if the Issuer shall have furnished any amendments or supplements thereto) or any preliminary prospectus or any other
document or any amendment or supplement thereto, a material fact required to be stated therein or necessary to make the statements therein not misleading, except, in each case, insofar as such losses, claims, damages or liabilities are arising out
of or based upon any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to any Dealer Manager or any Holder furnished to the Issuer in writing through the Dealer
Managers or any selling Holder expressly for use therein; 
 and agree (subject to the limitations set forth in this sentence) to reimburse, as
incurred, the Participant for any reasonable legal or other expenses incurred by the Participant in connection with investigating, defending against or appearing as a third-party witness in connection with any such loss, claim, damage, liability or
action; provided, however, neither the Issuer nor the Guarantors will be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon any untrue statement or alleged untrue
statement or omission or alleged omission made in any Registration Statement (or any amendment thereto) or Prospectus (as amended or supplemented if the Issuer shall have furnished any amendments or supplements thereto) or any preliminary prospectus
or any amendment or supplement thereto in reliance upon and in conformity with written information relating to any Participant furnished to the Issuer by such Participant specifically for use therein. The indemnity provided for in this
Section 8 will be in addition to any liability that the Issuer may otherwise have to the indemnified parties. The Issuer and the Guarantors shall not be liable under this Section 8 to any indemnified party regarding any settlement or
compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are
actual or potential parties to such claim or action) unless such settlement, compromise or consent is consented to by the Issuer and the Guarantors, which consent shall not be unreasonably withheld. 

(b) Each Participant, severally and not jointly, agrees to indemnify and hold harmless the Issuer, the Guarantors, their respective
directors (or equivalent), their respective officers who sign any Registration Statement and each person, if any, who controls the Issuer within the meaning of Section 15 of the Act or Section 20 of the Exchange Act against any losses,
claims, damages or liabilities to which the Issuer, the Guarantors or any such director, officer or controlling person may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained in any Registration Statement or Prospectus, any amendment or supplement thereto, or any
preliminary prospectus, or (ii) the omission or the alleged omission to state therein a material fact necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or
alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information concerning such Participant, furnished to the Issuer by or on behalf of such Participant, specifically for use therein; and
subject to the limitation set forth immediately preceding this clause, will reimburse, as incurred, any reasonable legal or other expenses 

  
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incurred by the Issuer, the Guarantors or any such director, officer or controlling person in connection with investigating or defending against or appearing as a third party witness in
connection with any such loss, claim, damage, liability or action in respect thereof. The indemnity provided for in this Section 8 will be in addition to any liability that the Participants may otherwise have to the indemnified parties. The
Participants shall not be liable under this Section 8 to any indemnified party regarding any settlement or compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect
of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or action) unless such settlement, compromise or consent is consented to by the Participants,
which consent shall not be unreasonably withheld. The Issuer and the Guarantors shall not, without the prior written consent of such Participant, effect any settlement or compromise of any pending or threatened proceeding in respect of which such
Participant is or could have been a party, or indemnity could have been sought hereunder by such Participant, unless such settlement (A) includes an unconditional written release of such Participant, in form and substance reasonably
satisfactory to such Participant, from all liability on claims that are the subject matter of such proceeding and (B) does not include any statement as to an admission of fault, culpability or failure to act by or on behalf of such Participant.

 (c) Promptly after receipt by an indemnified party under this Section 8 of notice of the commencement of any action,
such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section 8, notify the indemnifying party of the commencement thereof in writing; but the omission to so notify the indemnifying
party (i) will not relieve it from any liability under paragraph (a) or (b) above unless and to the extent such indemnifying party did not otherwise learn of such action and such failure results in the forfeiture by the indemnifying
party of substantial rights and defenses and (ii) will not, in any event, relieve the indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided in paragraphs (a) and (b) above.
The indemnifying party shall be entitled to appoint counsel (including local counsel) of the indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party in any action for which indemnification is
sought (in which case the indemnifying party shall not thereafter be responsible for the fees and expenses of any separate counsel, other than local counsel if not appointed by the indemnifying party, retained by the indemnified party or parties
except as set forth below); provided, however, that such counsel shall be reasonably satisfactory to the indemnified party. Notwithstanding the indemnifying party’s election to appoint counsel (including local counsel) to
represent the indemnified party in an action, the indemnified party shall have the right to employ separate counsel (including local counsel), and the indemnifying party shall bear the reasonable fees, costs and expenses of such separate counsel if
(i) the use of counsel chosen by the indemnifying party to represent the indemnified party would present such counsel with a conflict of interest (based on the advice of counsel to the indemnified person); (ii) such action includes both
the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded (based on the advice of counsel to the indemnified person) that there may be legal defenses available to it and/or other indemnified parties
that are different from or additional to those available to the indemnifying party; (iii) the indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a
reasonable time after notice of the institution of such action; or (iv) the indemnifying party shall authorize the indemnified party to employ separate counsel at the expense of the indemnifying party. It is understood and agreed that the
indemnifying person shall not, in connection with any proceeding or separate but related or substantially similar proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the reasonable fees
and expenses of more than one separate firm (in addition to any local counsel) representing the indemnified parties under paragraph (a) or paragraph (b) of this Section 8, as the case may be, who are parties to such action or actions.
Any such separate firm for any Participants shall be designated in writing by Participants who sold a majority in interest of the Registrable Securities and Exchange Securities sold by all such Participants in the case of paragraph (a) of this
Section 8 or the Issuer in the case of paragraph (b) of this Section 8. In the event that any Participants are indemnified persons collectively entitled, in 

  
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connection with a proceeding or separate but related or substantially similar proceedings in a single jurisdiction, to the payment of fees and expenses of a single separate firm under this
Section 8(c), and any such Participants cannot agree to a mutually acceptable separate firm to act as counsel thereto, then such separate firm for all such Indemnified Persons shall be designated in writing by Participants who sold a majority
in interest of the Registrable Securities and Exchange Securities sold by all such Participants. An indemnifying party will not, without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of any
judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or
action) unless such settlement, compromise or consent includes an unconditional release of each indemnified party from all liability arising out of such claim, action, suit or proceeding and does not include any statement as to, or any admission of,
fault, culpability or failure to act by or on behalf of any indemnified party. All fees and expenses that are reimbursable pursuant to this paragraph (c) shall be reimbursed as they are incurred. 

(d) After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof and approval by
such indemnified party of counsel appointed to defend such action, the indemnifying party will not be liable to such indemnified party under this Section 8 for any legal or other expenses, other than reasonable costs of investigation,
subsequently incurred by such indemnified party in connection with the defense thereof, unless (i) the indemnified party shall have employed separate counsel in accordance with the third sentence of paragraph (c) of this Section 8 or
(ii) the indemnifying party has authorized in writing the employment of counsel for the indemnified party at the expense of the indemnifying party. After such notice from the indemnifying party to such indemnified party, the indemnifying party
will not be liable for the costs and expenses of any settlement of such action effected by such indemnified party without the prior written consent of the indemnifying party (which consent shall not be unreasonably withheld), unless such indemnified
party waived in writing its rights under this Section 8, in which case the indemnified party may effect such a settlement without such consent. 
 (e) In circumstances in which the indemnity agreement provided for in the preceding paragraphs of this Section 8 is unavailable to, or insufficient to hold harmless, an indemnified party in respect
of any losses, claims, damages or liabilities (or actions in respect thereof) (other than by virtue of the failure of an indemnified party to notify the indemnifying party of its right to indemnification pursuant to paragraph (a) or (b) of
this Section 8, where such failure materially prejudices the indemnifying party (through the forfeiture of substantial rights or defenses)), each indemnifying party, in order to provide for just and equitable contribution, shall contribute to
the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect (i) the relative benefits received by the
indemnifying party or parties on the one hand and the indemnified party on the other from the offering of the Securities or (ii) if the allocation provided by the foregoing clause (i) is not permitted by applicable law, not only such
relative benefits but also the relative fault of the indemnifying party or parties on the one hand and the indemnified party on the other in connection with the statements or omissions or alleged statements or omissions that resulted in such losses,
claims, damages or liabilities (or actions in respect thereof). The relative benefits received by the Issuer and the Guarantors shall be deemed to be equal to the aggregate principal amount of Notes issued in the Exchange as set forth in the
Offering Memorandum. Benefits received by the Dealer Managers shall be deemed to be equal to the total fees received in the Exchange, and benefits received by any other Participants shall be deemed to be equal to the value of receiving
Securities or Exchange Securities, as applicable, registered under the Securities Act. Benefits received by any underwriter shall be deemed to be equal to the total underwriting discounts and commissions, as set forth on the cover page of the
Prospectus forming a part of the Registration Statement which resulted in such losses The relative fault of the parties shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information supplied by the Issuer on the one hand, or the Participants on the other, the parties’ relative intent, knowledge, access to

  
 -19-

 
information and opportunity to correct or prevent such statement or omission or alleged statement or omission, and any other equitable considerations appropriate in the circumstances. The parties
agree that it would not be equitable if the amount of such contribution were determined by pro rata or per capita allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the first
sentence of this paragraph (e). Notwithstanding any other provision of this paragraph (e), no Participant shall be obligated to make contributions hereunder that in the aggregate exceed the total discounts, commissions and other compensation or net
proceeds on the sale of Securities received by such Participant in connection with the sale of the Securities, less the aggregate amount of any damages that such Participant has otherwise been required to pay by reason of the untrue or alleged
untrue statements or the omissions or alleged omissions to state a material fact, and no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person
who was not guilty of such fraudulent misrepresentation. For purposes of this paragraph (e), each person, if any, who controls a Participant within the meaning of Section 15 of the Act or Section 20 of the Exchange Act shall have the same
rights to contribution as the Participants, and each director and officer of the Issuer and the Guarantors and each person, if any, who controls the Issuer and the Guarantors within the meaning of Section 15 of the Securities Act or
Section 20 of the Exchange Act, shall have the same rights to contribution as the Issuer. 
  

	 	9.	Rule 144A 

 The Issuer
covenants and agrees that it will use reasonable best efforts to file the reports required to be filed by it under the Securities Act and the Exchange Act and the rules and regulations adopted by the SEC thereunder in a timely manner in accordance
with the requirements of the Securities Act and the Exchange Act and, if at any time the Issuer is not required to file such reports, the Issuer will, upon the request of any Holder or beneficial owner of Registrable Securities, make available such
information necessary to permit sales pursuant to Rule 144A. The Issuer further covenants and agrees, for so long as any Registrable Securities remain outstanding that it will take such further action as any Holder of Registrable Securities may
reasonably request, all to the extent required from time to time to enable such holder to sell Registrable Securities without registration under the Securities Act within the limitation of the exemptions provided by Rule 144A unless the Issuer
is then subject to Section 13 or 15(d) of the Exchange Act and reports filed thereunder satisfy the information requirements of Rule 144A then in effect. 
  

	 	10.	Underwritten Registrations 

The Issuer shall not be required to assist in an underwritten offering unless requested by the Holders of a majority in aggregate
principal amount of the Registrable Securities. If any of the Registrable Securities covered by any Shelf Registration are to be sold in an underwritten offering, the underwriters and managers that will manage the offering will be selected by the
Holders of a majority in aggregate principal amount of such Registrable Securities included in such offering and shall be reasonably acceptable to the Issuer. 
 No Holder of Registrable Securities may participate in any underwritten registration hereunder unless such Holder (a) agrees to sell such Holder’s Registrable Securities on the basis provided in
any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and (b) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under
the terms of such underwriting arrangements. 
  

	 	11.	Miscellaneous 

 (a) No
Inconsistent Agreements. The Issuer has not as of the date hereof, and the Issuer shall not, after the date of this Agreement, enter into any agreement with respect to any of its securities

  
 -20-

 
that is inconsistent with the rights granted to the Holders of Registrable Securities in this Agreement or otherwise conflicts with the provisions hereof. The rights granted to the Holders
hereunder do not in any way conflict with and are not inconsistent with the rights granted to the holders of the Issuer other issued and outstanding securities under any such agreements. The Issuer will not enter into any agreement with respect to
any of its securities which will grant to any Person “piggy-back” registration rights with respect to any Registration Statement. 
 (b) Adjustments Affecting Registrable Securities. The Issuer shall not, directly or indirectly, take any action with respect to the Registrable Securities as a class that would adversely affect the
ability of the Holders of Registrable Securities to include such Registrable Securities in a registration undertaken pursuant to this Agreement. 
 (c) Amendments and Waivers. The provisions of this Agreement may not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given,
otherwise than with the prior written consent of (i) the Issuer, and (ii) (a) the Holders of not less than a majority in aggregate principal amount of the then outstanding Registrable Securities and (b) in circumstances that
would adversely affect the Participating Broker-Dealers, the Participating Broker-Dealers holding not less than a majority in aggregate principal amount of the Exchange Notes held by all Participating Broker-Dealers; provided, however,
that Section 8 and this Section 11(c) may not be amended, modified or supplemented without the prior written consent of each Holder and each Participating Broker-Dealer (including any person who was a Holder or Participating Broker-Dealer
of Registrable Securities or Exchange Securities, as the case may be, disposed of pursuant to any Registration Statement) affected by any such amendment, modification or supplement. Notwithstanding the foregoing, a waiver or consent to depart from
the provisions hereof with respect to a matter that relates exclusively to the rights of Holders of Registrable Securities whose securities are being sold pursuant to a Registration Statement and that does not directly or indirectly affect, impair,
limit or compromise the rights of other Holders of Registrable Securities may be given by Holders of at least a majority in aggregate principal amount of the Registrable Securities being sold pursuant to such Registration Statement. 

(d) Notices. All notices and other communications (including, without limitation, any notices or other communications to the
Trustee) provided for or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, next-day air courier or facsimile: 
 (i) if to a Holder of the Registrable Securities or any Participating Broker-Dealer, at the most current address of such Holder or Participating Broker-Dealer, as the case may be, set forth on the records
of the registrar under the Indenture, with a copy in like manner to the Dealer Managers; 
 (ii) if to the Dealer
Managers, at the addresses specified in the Dealer Manager Agreement; 
 with a copy to: 

Cahill Gordon & Reindel LLP 
 80 Pine Street 
 New York, New York 10005 

Facsimile No.: (212) 269-5420 
 Attention: Ann Makich, Esq. 

  
 -21-

 (iii) if to the Issuer, at the address as follows: 

First Data Corporation 
 6200 South Quebec Street 
 Greenwood Village, Colorado 80111 

Fax No.: (303) 889-6615 
 Attention: General Counsel 
 with a copy to: 

Simpson Thacher & Bartlett LLP 
 425 Lexington Ave. 
 New York, New York 10017 

Facsimile No.: (212) 455-2502 
 Attention: Richard Fenyes, Esq. 
 All such notices and communications shall be
deemed to have been duly given: when delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; one Business Day after being timely delivered to a next-day air courier; and upon
written confirmation, if sent by facsimile. 
 Copies of all such notices, demands or other communications shall be concurrently
delivered by the Person giving the same to the Trustee at the address and in the manner specified in such Indenture. 
 (e)
Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of each of the parties hereto, the Holders and the Participating Broker-Dealers; provided, however, that nothing
herein shall be deemed to permit any assignment, transfer or other disposition of Registrable Securities in violation of the terms of the Dealer Manager Agreement or the Indenture. 

(f) Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts,
each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 
 (g) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof. 

(h) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AS
APPLIED TO CONTRACTS MADE AND PERFORMED ENTIRELY WITHIN THE STATE OF NEW YORK. EACH OF THE PARTIES HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT. 

(i) Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction
to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto
shall use their best efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention
of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 

  
 -22-

 (j) Notes Held by the Issuer or Its Affiliates. Whenever the consent or approval of
Holders of a specified percentage of Registrable Securities is required hereunder, Registrable Securities held by the Issuer or its affiliates (as such term is defined in Rule 405 under the Securities Act) shall not be counted in determining
whether such consent or approval was given by the Holders of such required percentage. 
 (k) Third-Party Beneficiaries.
Holders of Registrable Securities and Participating Broker-Dealers are intended third-party beneficiaries of this Agreement, and this Agreement may be enforced by such Persons. 

(l) Entire Agreement. This Agreement, together with the Dealer Manager Agreement and the Indenture, is intended by the parties as
a final and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein and therein and any and all prior oral or written agreements, representations, or warranties, contracts,
understandings, correspondence, conversations and memoranda between the Holders on the one hand and the Issuer on the other, or between or among any agents, representatives, parents, subsidiaries, affiliates, predecessors in interest or successors
in interest with respect to the subject matter hereof and thereof are merged herein and replaced hereby. 

  
 -23-

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

			
	Very truly yours,
	
	FIRST DATA CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:

  
 -24-

  
  

	
	The following entities, each as Guarantor:
	
	BANKCARD INVESTIGATIVE GROUP INC.
	BUYPASS INCO CORPORATION
	CALL INTERACTIVE HOLDINGS LLC
	CARDSERVICE INTERNATIONAL, LLC
	CESI HOLDINGS, INC.
	CONCORD COMPUTING CORPORATION
	CONCORD CORPORATE SERVICES, INC.
	CONCORD EFS FINANCIAL SERVICES, INC.
	CONCORD EFS, INC.
	CONCORD EMERGING TECHNOLOGIES, INC.
	CONCORD EQUIPMENT SALES, INC.
	CONCORD FINANCIAL TECHNOLOGIES, INC.
	CONCORD ONE, LLC
	CONCORD PAYMENT SERVICES, INC.
	CONCORD PROCESSING, INC.
	CONCORD TRANSACTION SERVICES, LLC
	CTS HOLDINGS, LLC
	CTS, INC.
	DW HOLDINGS, INC.
	EFS TRANSPORTATION SERVICES, INC.
	EPSF CORPORATION
	FDC INTERNATIONAL INC.
	FDFS HOLDINGS, LLC
	FDGS GROUP LLC
	FDR IRELAND LIMITED
	FDR MISSOURI INC.
	FDR SIGNET INC.
	FDS HOLDINGS INC.
	FIRST DATA AVIATION LLC
	FIRST DATA COMMERCIAL SERVICES HOLDINGS, INC.
	FIRST DATA COMMUNICATIONS CORPORATION
	FIRST DATA EC, LLC
	FIRST DATA GOVERNMENT SOLUTIONS, INC.
	FIRST DATA GOVERNMENT SOLUTIONS, LP
	FIRST DATA LATIN AMERICA INC.
	FIRST DATA MERCHANT SERVICES CORPORATION
	FIRST DATA MERCHANT SERVICES NORTHEAST, LLC
	FIRST DATA MERCHANT SERVICES SOUTHEAST, L.L.C.
	FIRST DATA MOBILE HOLDINGS, INC.
	FIRST DATA PAYMENT SERVICES, LLC
	FIRST DATA REAL ESTATE HOLDINGS L.L.C.
	FIRST DATA RESOURCES, LLC
	FIRST DATA RETAIL ATM SERVICES L.P.
	FIRST DATA SECURE LLC
	FIRST DATA SOLUTIONS INC.
	FIRST DATA TECHNOLOGIES, INC.
	FIRST DATA VOICE SERVICES
	FSM SERVICES INC.

  
 -25-

  

					
	 FUNDSXPRESS, INC.
 FUNDSXPRESS FINANCIAL NETWORK, INC.
 FX SECURITIES, INC.

GIFT CARD SERVICES, INC.
 H & F SERVICES,
INC.
 IDLOGIX, INC.
 INSTANT CASH
SERVICES, LLC
 LINKPOINT INTERNATIONAL, INC.
 LOYALTYCO LLC
 MAS INCO CORPORATION
 MAS OHIO CORPORATION
 MONEY NETWORK FINANCIAL, LLC

NATIONAL PAYMENT SYSTEMS INC.
 NEW PAYMENT
SERVICES, INC.
 NPSF CORPORATION

PAYPOINT ELECTRONIC PAYMENT SYSTEMS, LLC
 PAYSYS
INTERNATIONAL, INC.
 REMITCO LLC

SAGEBRUSH HOLDINGS LLC
 SIZE TECHNOLOGIES,
INC.
 STAR NETWORKS, INC.
 STAR
PROCESSING, INC.
 STAR SYSTEMS ASSETS, INC.
 STAR SYSTEMS, INC.
 STAR SYSTEMS, LLC
 STRATEGIC INVESTMENT ALTERNATIVES LLC
 TASQ LLC

TASQ TECHNOLOGY, INC.
 TELECHECK INTERNATIONAL,
INC.
 TELECHECK PITTSBURGH/WEST VIRGINIA, INC.
 TRANSACTION SOLUTIONS, LLC
 UNIFIED MERCHANT SERVICES

VALUELINK, LLC

		
	By:	 	  

		 	Name:	 	Stanley J. Andersen
		 	Title:	 	Vice President and Assistant Secretary

  
 -26-

  

					
	The following entities, each as Guarantor:
	
	FIRST DATA CAPITAL, INC.
FIRST DATA CARD SOLUTIONS, INC.
GRATITUDE HOLDINGS LLC
		
	By:	 	  

		 	Name:	 	Stanley J. Andersen
		 	Title:	 	President

  
 -27-

  

					
	FDR LIMITED, as Guarantor
		
	By:	 	  

		 	Name:	 	Rosalind Rayman
		 	Title:	 	Secretary

  
 -28-

  

					
	TELECHECK SERVICES, INC., as Guarantor
		
	By:	 	  

		 	Name:	 	Mark Wallin
		 	Title:	 	President

  
 -29-

  

			
	The foregoing Agreement is hereby confirmed and accepted as of the date first above written.
	
	CITIGROUP GLOBAL MARKETS INC.
	 KKR CAPITAL MARKETS LLC
 HSBC SECURITIES (USA) INC.
 CREDIT SUISSE SECURITIES (USA) LLC

DEUTSCHE BANK SECURITIES INC.
 GOLDMAN, SACHS
& CO.

	 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
 WELLS FARGO SECURITIES, LLC

		
	By:	 	Citigroup Global Markets Inc.
		
	By:	 	  

		 	Name:
		 	Title:
	
	For itself, and as representative of the other several Dealer Managers.

 SCHEDULE I 
 THE GUARANTORS 
 BANKCARD INVESTIGATIVE GROUP INC. 

BUYPASS INCO CORPORATION 
 CALL INTERACTIVE
HOLDINGS LLC 
 CARDSERVICE INTERNATIONAL, LLC 
 CESI HOLDINGS, INC. 
 CONCORD COMPUTING CORPORATION 

CONCORD CORPORATE SERVICES, INC. 
 CONCORD EFS
FINANCIAL SERVICES, INC. 
 CONCORD EFS, INC. 
 CONCORD EMERGING TECHNOLOGIES, INC. 
 CONCORD EQUIPMENT SALES, INC. 

CONCORD FINANCIAL TECHNOLOGIES, INC. 
 CONCORD
ONE, LLC 
 CONCORD PAYMENT SERVICES, INC. 
 CONCORD PROCESSING, INC. 
 CONCORD TRANSACTION SERVICES, LLC 

CTS HOLDINGS, LLC 
 CTS, INC. 

DW HOLDINGS, INC. 
 EFS TRANSPORTATION SERVICES,
INC. 
 EPSF CORPORATION 
 FDC
INTERNATIONAL INC. 
 FDFS HOLDINGS, LLC 

FDGS GROUP LLC 
 FDR IRELAND LIMITED 

FDR MISSOURI INC. 
 FDR SIGNET INC. 

FDS HOLDINGS INC. 
 FIRST DATA AVIATION LLC

 FIRST DATA COMMERCIAL SERVICES HOLDINGS, INC. 
 FIRST DATA COMMUNICATIONS CORPORATION 
 FIRST DATA EC, LLC 

FIRST DATA GOVERNMENT SOLUTIONS, INC. 
 FIRST
DATA GOVERNMENT SOLUTIONS, LP 
 FIRST DATA LATIN AMERICA INC. 
 FIRST DATA MERCHANT SERVICES CORPORATION 
 FIRST DATA MERCHANT SERVICES NORTHEAST, LLC 

FIRST DATA MERCHANT SERVICES SOUTHEAST, L.L.C. 

FIRST DATA MOBILE HOLDINGS, INC. 
 FIRST DATA
PAYMENT SERVICES, LLC 
 FIRST DATA REAL ESTATE HOLDINGS L.L.C. 
 FIRST DATA RESOURCES, LLC 
 FIRST DATA RETAIL ATM SERVICES L.P. 

FIRST DATA SECURE LLC 
 FIRST DATA SOLUTIONS INC.

  
 -2-

 FIRST DATA TECHNOLOGIES, INC. 
 FIRST DATA VOICE SERVICES 
 FSM SERVICES INC. 

FUNDSXPRESS, INC. 
 FUNDSXPRESS FINANCIAL
NETWORK, INC. 
 FX SECURITIES, INC. 

GIFT CARD SERVICES, INC. 
 H & F SERVICES,
INC. 
 IDLOGIX, INC. 
 INSTANT CASH
SERVICES, LLC 
 LINKPOINT INTERNATIONAL, INC. 
 LOYALTYCO LLC 
 MAS INCO CORPORATION 
 MAS OHIO CORPORATION 
 MONEY NETWORK FINANCIAL, LLC 

NATIONAL PAYMENT SYSTEMS INC. 
 NEW PAYMENT
SERVICES, INC. 
 NPSF CORPORATION 

PAYPOINT ELECTRONIC PAYMENT SYSTEMS, LLC 
 PAYSYS
INTERNATIONAL, INC. 
 REMITCO LLC 

SAGEBRUSH HOLDINGS LLC 
 SIZE TECHNOLOGIES, INC.

 STAR NETWORKS, INC. 
 STAR
PROCESSING, INC. 
 STAR SYSTEMS ASSETS, INC. 
 STAR SYSTEMS, INC. 
 STAR SYSTEMS, LLC 
 STRATEGIC INVESTMENT ALTERNATIVES LLC 
 TASQ LLC 

TASQ TECHNOLOGY, INC. 
 TELECHECK INTERNATIONAL,
INC. 
 TELECHECK PITTSBURGH/WEST VIRGINIA, INC. 
 TRANSACTION SOLUTIONS, LLC 
 UNIFIED MERCHANT SERVICES 

VALUELINK, LLC 
 FIRST DATA CAPITAL, INC.

 FIRST DATA CARD SOLUTIONS, INC. 

GRATITUDE HOLDINGS LLC 
 FDR LIMITED 

TELECHECK SERVICES, INC. 

  
 -3-

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